MAPI
ActiveSummary
MAPI has been active since 2007 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €133,226 and a net result of €19,277. Equity is growing by about 5.9% per year across the filed financial years. Its solvency ranks better than 95% of 12,678 sector peers (NACE 47, financial year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Overview
- Equity
- €133,226
- Profit
- €19,277
- BARRAN SENIN ManuelDirector
- MAURICI MariaDirector
Why 88raises riskSize: total assets €138,828Last filed accounts filed 61 days late; 1 of the last 3 latelowers riskFounded in 2007Equity €133,226 (96.0% of total assets)Show the evidence
Checked score
About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 47, micro): better than 92% on solvency, 64% on liquidity, 81% on profitability and 70% on growth.
The bankruptcy probability was computed on 26-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
Credit check for your own amount and term
Show the recommended maximum and see how the verdict changes with amount, term and advance.
Signals
This company filed its last 7 accounts on average 29 days after the deadline; the sector median (NACE 47) for financial year 2024 is on the deadline day, and 47% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · abbreviated…
- Liquidity more than triplescurrent ratio 24.78
- Annual accounts filedfinancial year 2024 · micro…
Financials · financial year 2025, abbreviated format
2025 annual accounts filed late (61 days) Filed on 30 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00551610.
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result returns to profit in 2025: €19,483 after a loss of €4,832 in 2024, the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 47, Retail trade: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Peer companies
Historical observationOf the 34,695 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 95.3% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
For this company itself Checked computes a bankruptcy probability of 0.4% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,475 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 34,695 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | - | €29,200 | €34,800 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,747 | €3,025 | €2,961 | €1,901 | €1,901 | €1,901 | €1,901 | €1,901 | = |
| Other operating charges640/8 | - | - | €1,733 | - | €453 | €209 | €333 | €301 | ▼ 9.5% |
| Gross operating margin9900 | €40,628 | €26,060 | €27,799 | €11,012 | €45,632 | €33,035 | -€2,598 | €21,684 | - |
| Operating profit (loss)9901 | €37,765 | €22,136 | €23,106 | €9,112 | €14,078 | -€3,875 | -€4,832 | €19,483 | - |
| Financial income75/76B | - | - | - | - | - | €6,336 | €6,558 | - | - |
| Recurring financial income75 | €0 | - | - | - | - | €6,336 | €6,558 | - | - |
| Financial charges65/66B | - | - | €152 | €171 | €172 | €183 | €417 | €206 | ▼ 50.5% |
| Recurring financial charges65 | €60 | €451 | €152 | €171 | €172 | €183 | €417 | €206 | ▼ 50.5% |
| Profit (loss) for the period before taxes9903 | €37,706 | €21,685 | €22,953 | €8,941 | €13,906 | €2,278 | €1,309 | €19,277 | ▲ 15× |
| Income taxes67/77 | - | €4,832 | - | - | €2,224 | - | - | - | - |
| Profit (loss) for the period9904 | €37,706 | €16,853 | €22,953 | €8,941 | €11,682 | €2,278 | €1,309 | €19,277 | ▲ 15× |
| Profit (loss) for the period to be appropriated9905 | €37,706 | €16,853 | €22,953 | €8,941 | €11,682 | €2,278 | €1,309 | €19,277 | ▲ 15× |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €94,676 | €87,643 | €122,217 | €142,521 | €141,296 | €139,269 | €131,129 | €138,828 | ▲ 5.9% |
| Fixed assets21/28 | €4,574 | €2,644 | - | €7,602 | €5,702 | €5,116 | €1,901 | - | - |
| Tangible fixed assets22/27 | €4,574 | €2,644 | - | €7,602 | €5,702 | €5,116 | €1,901 | - | - |
| Furniture and vehicles24 | - | - | - | €7,602 | €5,702 | €5,116 | €1,901 | - | - |
| Current assets29/58 | €90,102 | €84,999 | €122,217 | €134,919 | €135,594 | €134,153 | €129,228 | €138,828 | ▲ 7.4% |
| Stocks and contracts in progress3 | - | €180 | €337 | €3,787 | €6,187 | €6,187 | €6,187 | €1,187 | ▼ 80.8% |
| Stocks30/36 | - | - | €337 | €3,787 | €6,187 | €6,187 | €6,187 | €1,187 | ▼ 80.8% |
| Amounts receivable within one year40/41 | €2,925 | €64,047 | €112,147 | €117,392 | €119,018 | €121,363 | €116,384 | €128,822 | ▲ 10.7% |
| Trade receivables40 | - | - | €2,513 | €1,092 | €1,092 | €1,504 | - | €10,728 | - |
| Other amounts receivable41 | - | - | €109,634 | €116,300 | €117,926 | €119,859 | €116,384 | €118,094 | ▲ 1.5% |
| Cash at bank and in hand54/58 | €77,873 | €20,772 | €9,733 | €13,740 | €10,390 | €6,603 | €6,657 | €8,819 | ▲ 32.5% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €94,676 | €87,643 | €122,217 | €142,521 | €141,296 | €139,269 | €131,129 | €138,828 | ▲ 5.9% |
| Equity10/15 | €88,831 | €79,486 | €102,439 | €111,380 | €123,062 | €112,640 | €113,950 | €133,226 | ▲ 16.9% |
| Contributions10/11 | €12,700 | €12,700 | €12,700 | €12,700 | €12,700 | - | - | - | - |
| Contributions outside capital11 | - | - | €12,700 | €12,700 | €12,700 | - | - | - | - |
| Other1109/19 | - | - | €12,700 | €12,700 | €12,700 | - | - | - | - |
| Reserves13 | €1,900 | €1,900 | €1,900 | €1,900 | €1,900 | €1,900 | €1,900 | €1,900 | = |
| Non-distributable reserves130/1 | - | - | €1,900 | €1,900 | €1,900 | €1,900 | €1,900 | €1,900 | = |
| Reserves not available under the articles1311 | - | - | €1,900 | €1,900 | €1,900 | €1,900 | €1,900 | €1,900 | = |
| Profit (loss) carried forward14 | €74,231 | €64,886 | €87,839 | €96,780 | €108,462 | €110,740 | €112,050 | €131,326 | ▲ 17.2% |
| Amounts payable17/49 | €5,845 | €8,157 | €19,778 | €31,141 | €18,234 | €26,629 | €17,179 | €5,602 | ▼ 67.4% |
| Amounts payable within one year42/48 | €5,845 | €8,157 | €19,778 | €31,141 | €18,234 | €26,629 | €17,179 | €5,602 | ▼ 67.4% |
| Trade debts44 | - | - | €14,617 | €30,050 | €18,234 | €23,202 | €15,395 | €3,652 | ▼ 76.3% |
| Suppliers440/4 | - | - | €14,617 | €30,050 | €18,234 | €23,202 | €15,395 | €3,652 | ▼ 76.3% |
| Taxes, remuneration and social security45 | - | - | €5,161 | €1,091 | - | €3,427 | €1,784 | €1,950 | ▲ 9.3% |
| Taxes450/3 | - | - | €3,661 | €1,091 | - | - | - | €1,566 | - |
| Remuneration and social security454/9 | - | - | €1,500 | - | - | €3,427 | €1,784 | €384 | ▼ 78.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €37,706 | €16,853 | €22,953 | €8,941 | €11,682 | €2,278 | €1,309 | €19,277 | ▲ 15× |
| + Depreciation and write-downs630 | €2,747 | €3,025 | €2,961 | €1,901 | €1,901 | €1,901 | €1,901 | €1,901 | = |
| Operating cash flow (approximation) | €40,453 | €19,878 | €25,914 | €10,842 | €13,583 | €4,179 | €3,210 | €21,177 | ▲ 560% |
| Investment in fixed assets (approximation) | - | -€1,095 | - | - | €0 | -€1,315 | €1,315 | - | - |
| Change in cash | - | -€57,101 | -€11,038 | €4,006 | -€3,350 | -€3,787 | €54 | €2,162 | ▲ 40× |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 17 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | abbreviated format | 30-09-2026 | 2026-00551610 |
| 31-12-2024 | micro format | 30-08-2025 | 2025-00479190 |
| 31-12-2023 | micro format | 30-08-2024 | 2024-00438443 |
| 31-12-2022 | abbreviated format | 24-06-2024 | 2024-00159858 |
| 31-12-2022 | micro format | 28-07-2023 | 2023-00303322 |
| 31-12-2021 | abbreviated format | 24-06-2024 | 2024-00159860 |
| 31-12-2021 | micro format | 29-07-2022 | 2022-20267013 |
| 31-12-2020 | abbreviated format | 24-06-2024 | 2024-00159861 |
| 31-12-2020 | micro format | 29-07-2021 | 2021-45000112 |
| 31-12-2019 | micro format | 28-10-2020 | 2020-64900081 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| BARRAN SENIN Manuel |
|
| MAURICI Maria |
|
Owners and capital
Capital and shareholders
- BARRAN SENIN Manuel 50 shares
- MAURICI Maria 50 shares
The Belgian Official Gazette names shareholders only when an act mentions them; the share register itself is not published.
Group and network
Connections & network
2 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
03-05
Gazette deed
Resignations & appointmentsGeneral meeting2 facts ▸
- General meeting, 31-01-2024
- Other provision, “bevestiging van mandaat, vrij tot een beslissing van de algemene vergadering” (deed in Dutch)
08-03
Gazette deed
Amendment of the articles · Legal-form change · Resignations & appointmentsResignations: BARRAN SENIN Manuel (manager) and MAURICI Maria (manager) · Appointments: BARRAN SENIN Manuel (director) and MAURICI Maria (director) · Incorporation17 facts ▸
- General meeting, 05-03-2024
- Incorporation, 02-07-2007
- Other provision, “statutenwijzigingen tot op heden, niet gewijzigd tot op heden” (deed in Dutch)
- Shareholding, 50 (2 times)
- Power of attorney, Christel Discry
- Proposal, “statuten aanpassen aan bepalingen Wetboek van vennootschappen en verenigingen, aanpassing rechtsvorm en kapitaal aan Wetboek van vennootschappen en verenigingen” (deed in Dutch)
- General meeting
- Amendment of the articles (3 times)
- Capital conversion, “statutair onbeschikbare eigen vermogensrekening, eigen vermogensrekening niet-opgevraagde inbrengen” (deed in Dutch)
- Reserve release, “vormen en meerderheden van statutenwijziging, opheffing statutair onbeschikbare eigen vermogensrekening en middelen beschikbaar voor uitkering” (deed in Dutch)
- Other provision, “Vierde besluit-coördinatie statuten, neerlegging in vennootschapsdossier verzorgen” (deed in Dutch)
- Director resignation, BARRAN SENIN Manuel (manager)
- +5 further facts in this act
Show earlier events
About the unread acts
Of the 9 Belgian Official Gazette deeds we know for this company, 2 have been read. The other 7 have not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 26 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Recognitions · licences · registrations
Food safety, FASFC
1 siteEnvironmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 23075A0062/00C000 | Flanders | 717 m² | 1 · 182 m² | 7.8 m · 1 |
How the parcels are linked
Articles of association
What the company does
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- MAPI
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaamse Gewest, Artikel 2:Zetel” (deed in Dutch)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- “Artikel 11. Bevoegdheden van het bestuursorgaan Als er slechts één bestuurder is, is het geheel van de bevoegdheden van de bestuurders aan…”
- Board ruleHow the board is made up, meets and takes decisions.
- “Met of zonder beperking van duur, één of meer bestuurders” (deed in Dutch)“Vaste of evenredige vergoeding, al dan niet ten kosteloze titel” (deed in Dutch)
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- “Op naam, register van aandelen op naam” (deed in Dutch)
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Helft overdrager,helft koper(s) naar evenredigheid verworven aantal bij meerdere kopers, geen beroep op rechter tegen weigering” (deed in Dutch)
- Share issue ruleHow and by whom new shares can be issued.
- “Nieuwe aandelen waarop in geld wordt ingeschreven, inbreng in geld met uitgifte van nieuwe aandelen – recht van voorkeur” (deed in Dutch)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- First Monday of June at 18:00
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Beslissing algemene vergadering in vormen statutenwijziging” (deed in Dutch)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- One provision in the deed