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MAPICO

Active Private limited companyfounded 2005active for 20 yearsAlois De Beulelaan 5, 9240 ZeleKBO/BCE: BE 0877.867.519
MAPICO
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Overview

Lifetime

19 annual accounts with figures on one time axis
peak €445,635 (2010)
-not published
lowest -€5,081 (2023)
-€3,320▲ €1,167
peak €722,068 (2016)
€688,233▼ 0.5%
€4,053▲ 5.6%
Board2 names since 2022
1 director
Documentsfilings and deeds
24-11-2025157 days before the deadline
2025abbreviated format
Loss of €3,320

Key points

from the 2025 annual accounts

Losses

-€33,835 in nine years
201720182019202020212022-5,08120232024-3,3202025

Every financial year from 2017 to 2025 closed with a loss. 2023 was the heaviest.

Filings

19 annual accounts since 2006
deadline2010201520202025

The last five annual accounts were filed 142 to 163 days before the end of the period.

Turnover not published (abbreviated format)

Checked score

Bankruptcy probability within 12 months

Financial strength

Score breakdown

Comparable companies, two years later

In July 2024, 8,613 companies had the same profile as MAPICO has now. Each dot stands for 22 companies, two years later.

94.1%
were still trading
5.2%
stopped another way
0.4%
went bankrupt
  • Small
  • 20 years or older
  • solvency 30% or more
  • a small loss

Another 0.2% stopped without a precise date, possibly only after those two years.

Test of the method

The method was tested on the 497,762 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.

The companies in ten equal groups, from the lowest to the highest expected share
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 2.9% 3.1%
10 5.6% 6.1%

A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.

This is an observation about 8,613 companies, not a prediction for MAPICO. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.

Credit verdict

Credit check for an amount and term of your choice

Show the recommended maximum and see how the verdict changes with amount, term and advance.

The scores and ratios are Checked's own calculations, not a credit decision.

Signals

Board and ownership

Director
Board & ownership

Recent changes

New director appointed, resigned · Gazette deed
Incorporation published on 23-12-2005 · Gazette deed
All 28 events

Official details

Source: KBO
Status
Active since 13-12-2005Normal situation
Registered office
10 active companies are registered at this addressSource: KBO register, as of 13 November 2026.
Activity
No activity registered in the KBO
Financial year end
30 September
Peppol
Not found in the Peppol Directory
Company details

Annual accounts to 30-09-2025

€3,320▼ 26.0%
€688,233▼ 0.5%
€692,286▼ 0.4%
Filing
Filed on 24-11-2025, 157 days before the end of the filing period
Financials

Insights on MAPICO

MAPICO has been active since 2005 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €688,233 and a net result of -€3,320.

Equity has been stable since 2019 (±0.6% per year).

Sources: KBO register, filings at the National Bank, Belgian Official Gazette.

Financials

Annual accounts 2025

abbreviated format, filed on 24-11-2025, 157 days before the deadline
€688,233
▼ 0.5%
-€3,455
▲ €1,247
-
-
99.4%
unchanged
-

Turnover and EBIT margin are not published. The abbreviated format does not require them.

Money flows

no detail for 2025

Balance sheet

balance sheet total €692,286 on 30-09-2025
What the company ownsHow it is paid for

in euro

in euro

Filed annual accounts

as filed with the National Bank, click a year to choose it
Line Trend202520242023202220212020201920182017201620152014201320122011201021 months20082007200613 months
Balance sheet: assets
20/58 692,286695,392697,285705,333708,756712,075714,503717,512725,104731,134728,778755,761714,477694,090654,165693,510538,099420,040263,543
21/28 000000000-1,4522,9044,5266,6591,5322,213---
21 00000000001,4522,9044,3565,808-----
22/27 00000000000-1708511,5322,213---
23 ------------1708511,5322,213---
29/58 692,286695,392697,285705,333708,756712,075714,503717,512725,104731,134727,326752,857709,951687,431652,633691,297538,099420,040263,543
40/41 652,853652,874652,782552,785552,827519,375514,510469,593469,661472,993482,284480,435493,777282,820313,448-43,812--
40 ---------1,2052,8003,35416,0897,62737,229----
41 652,853652,874652,782552,785552,827519,375514,510469,593469,661471,788479,484477,081477,688275,193276,219-43,812--
50/53 ----------------203,957363,001-
54/58 39,39742,48344,470152,517155,899192,670199,743247,669255,443258,141245,042272,422216,174404,611339,185680,821247,91316,065232,268
490/1 363533313030250250-------10,47642,41740,97431,275
Balance sheet: equity and liabilities
10/49 692,286695,392697,285705,333708,756712,075714,503717,512725,104731,134728,778755,761714,477694,090654,165693,510538,099420,040263,543
10/15 688,233691,553696,040701,121704,786708,231711,528715,123717,875722,068720,009705,419683,706660,655635,652610,843375,462342,208210,900
10/11 20,00020,00020,00020,00020,00020,00020,00020,00020,00020,00020,00020,00020,00020,00020,00020,00020,00020,00020,000
100 -----20,00020,00020,00020,00020,00020,00020,00020,00020,00020,00020,00020,00020,00020,000
13 668,233671,553676,040681,121684,786688,231691,528695,123697,875702,068700,009685,419663,706640,655615,652590,843355,462322,208190,900
130/1 --2,0002,0002,000--------------
130 -----2,0002,0002,0002,0002,0002,0002,0002,0002,0002,0002,0002,0009,5459,545
1311 --2,0002,0002,000--------------
133 668,233671,553674,040679,121682,786686,231689,528693,123695,875700,068698,009683,419661,706638,655613,652588,843353,462312,663181,355
17/49 4,0533,8391,2454,2123,9703,8442,9752,3897,2299,0668,76950,34230,77133,43518,51382,667162,63777,83252,643
42/48 3,9473,7421,2171,2171,0779588062722,4381,3701,14627,12220,78925,7271,54958,2744,93077,83252,643
44 -----------25,91719,52724,251-----
440/4 -----------25,91719,52724,251-----
45 ---------------55,114-24,67850,328
450/3 ---------------55,114-24,67850,328
47/48 3,9473,7421,2171,2171,0779588062722,4381,3701,1461,2051,2621,4761,5493,1604,93053,1542,315
492/3 10697282,9952,8932,8862,1692,1174,7917,6967,62323,2209,9827,70816,96424,393157,707--
Income statement
70 --------5,71421,52040,59474,05155,79348,54737,581754,460184,133--
9900 --------3,71413,98826,38648,13336,26631,55637,581445,635138,100188,751292,525
60/61 --------2,0007,53214,20825,91819,52716,991-308,82546,033--
630 ---------1,4521,4521,6222,1332,1336811,192--467
640/8 3,4554,7025,6023,5473,4713,4783,8023,2358,75111,90311,13126,94813,80310,86420,430131,887114,8785863,119
9901 -3,455-4,702-5,602-3,547-3,471-3,478-3,802-3,235-5,03763313,80319,56320,33018,55916,470312,55623,222188,165288,939
75/76B 238309651121513113195959141,4968572,2202,8126,4878,37631,47219,1379,4242,694
75 2383090121513113195959141,4968572,2202,8126,4878,37631,47219,1379,4242,694
76B --651----------------
65/66B 10394130130125130112112707070709143376235111
65 10394130130125130112112707070709143376235111
9903 -3,320-4,487-5,081-3,665-3,445-3,297-3,595-2,752-4,1932,05914,59021,71323,05125,00324,809343,96642,324197,578291,632
67/77 ---------------108,5859,07066,270100,732
9904 -3,320-4,487-5,081-3,665-3,445-3,297-3,595-2,752-4,1932,05914,59021,71323,05125,00324,809235,38133,254131,308190,900
9905 -3,320-4,487-5,081-3,665-3,445-3,297-3,595-2,752-4,1932,05914,59021,71323,05125,00324,809235,38133,254131,308190,900
Appropriation of the result
9906 -3,320-4,487-5,081-3,665-3,445-3,297-3,595-2,752-4,1932,05914,59021,71323,05125,00324,809235,38133,254131,308190,900
791/2 3,3204,4875,0813,6653,4453,2973,5952,7524,193----------
691/2 ---------2,05914,59021,71323,05125,00324,809235,38133,254131,308190,900
6920 ------------------9,545
6921 ---------2,05914,59021,71323,05125,00324,809235,38133,254131,308181,355
Document PDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDF

The notes to these accounts have 5 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).

Source: Annual accounts 2025 (PDF), filed on 24-11-2025.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank
Financial year Type Filed Reference Document
30-09-2025 abbreviated format 24-11-2025 2025-00570565 PDF
30-09-2024 abbreviated format 18-11-2024 2024-00601777 PDF
30-09-2023 abbreviated format 21-11-2023 2023-00514076 PDF
30-09-2022 abbreviated format 09-12-2022 2022-20535802 PDF
30-09-2021 abbreviated format 09-12-2021 2021-79900093 PDF
30-09-2020 abbreviated format 16-11-2020 2020-70800117 PDF
30-09-2019 abbreviated format 19-11-2019 2019-73900514 PDF
30-09-2018 abbreviated format 21-11-2018 2018-72500582 PDF
30-09-2017 abbreviated format 04-12-2017 2017-71100446 PDF
30-09-2016 abbreviated format 21-11-2016 2016-68200289 PDF
30-09-2015 abbreviated format 23-11-2015 2015-67200308 PDF
30-09-2014 abbreviated format 26-11-2014 2014-68000221 PDF
30-09-2013 abbreviated format 18-11-2013 2013-66300029 PDF
30-09-2012 abbreviated format 21-11-2012 2012-64300035 PDF
30-09-2011 abbreviated format 23-11-2011 2011-61600286 PDF
30-09-2010 abbreviated format 02-12-2010 2010-62300464 PDF
31-12-2008 abbreviated format 26-05-2009 2009-16300284 PDF
31-12-2007 abbreviated format 16-06-2008 2008-23600390 PDF
31-12-2006 abbreviated format 06-06-2007 2007-19400393 PDF

Key figures and ratios

per financial year, computed from the annual accounts
Line Trend202520242023202220212020201920182017201620152014201320122011201021 months20082007200613 months
---------2,08515,25521,18522,46320,69217,151313,748--289,406
---------3,51116,04223,33525,18427,13625,490236,573--191,367
---------00007,26003,405---
-3,086-1,987-108,047-3,382-36,771-7,073-47,926-7,774-2,69813,099-27,38056,248-188,43765,426-341,636432,908231,848-216,203-
688,339691,650696,068704,116707,679711,117713,697717,240722,666729,764726,180725,735689,162661,704651,084633,023533,169342,208210,900
---------88.2%2.9%34.0%26.4%36.4%38.2%43.8%41.4%12.6%--
99.4%99.4%99.8%99.4%99.4%99.5%99.6%99.7%99.0%98.8%98.8%93.3%95.7%95.2%97.2%88.1%69.8%81.5%80.0%
-----------27.7634.1526.72-11.86-5.405.01
0.010.010.000.010.010.010.000.000.010.010.010.070.050.050.030.140.430.230.25
-0.5%-0.6%-0.7%-0.5%-0.5%-0.5%-0.5%-0.4%-0.6%0.3%2.0%3.1%3.4%3.8%3.9%38.5%8.9%38.4%90.5%
-0.5%-0.6%-0.7%-0.5%-0.5%-0.5%-0.5%-0.4%-0.6%0.3%2.0%2.9%3.2%3.6%3.8%33.9%6.2%31.3%72.4%
--------30001 days20 days25 days17 days105 days57 days362 days-87 days--
-----------365 days365 days521 days-----

A ratio outside any meaningful range has been withheld (balance sheet total €692,286, equity €688,233).

A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.

Insights on MAPICO

The operating result for 2025 is a loss of €3,455, smaller than the loss of €4,702 in 2024.

Debt's share of the balance-sheet total stays at 0.6%.

Board & ownership

Board

1 director, last change in 2023
Director (not named in the articles)
appointed by deed of 28-12-2023 term without a fixed end
listed in the 2025 annual accounts, filed on 24-11-2025

Office holders in the KBO →

Mandates through the years

2 names, the dashed line is today

Director (not named in the articles)

Manager
BoardEarliermandate already running before its first mention
Mandates as a list
    • Director (not named in the articles), since before 30-09-2022
    • Manager, until 28-12-2023

See the board, name and registered office on a given date →

Control

See the annual accounts at the National Bank and the publications in the Belgian Official Gazette.

Capital

Contribution
€20,000
Source
2025 annual accounts

Articles of association

deed of 28-12-2023 (in Dutch)
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Third Friday of November at 18:00
Liquidation ruleIn a liquidation the creditors are paid first. What is left goes to the shareholders.
“Een of meerdere vereffenaars aanduiden,bevoegdheden omlijnen,vergoeding bepalen, ontbinding om welke reden en op welk ogenblik ook”

Network & group

No group

MAPICO has no parent and no holdings in its annual accounts. is the only director. MAPICO shares no director with another company.

At the same address

Alois De Beulelaan 5, 9240 Zele · 9 other companies
Oostvlaamse Invest Company
registered office since 13-08-1992 · founded in 1991
 turnover €524,388 (2025)
0446.281.261
DONATERIE
registered office since 30-11-2006 · founded in 2006
 total assets €5.3m (2025)
0885.341.764
Tersal
registered office since 14-06-2017 · founded in 2017 · negative equity (2025)
 total assets €1.7m (2025)
0676.815.223
Maatschappij voor onderlinge borgstelling voor krediet aan de middenstand te Zele
registered office since 10-03-1955 · founded in 1955
 total assets €1.3m (2025)
0400.275.844
MABOR
registered office since 22-06-2023 · founded in 2023 · negative equity (2025)
 total assets €1.3m (2025)
0803.040.036
KREDIET VOOR AMBACHTSWERKTUIGEN ZELE
registered office since 09-12-1929 · founded in 1929
 total assets €856,260 (2025)
0400.154.692
EMMARIELCO
registered office since 08-03-1993 · founded in 1993
 total assets €114,523 (2025)
0449.606.480
ASSURZELE
registered office since 08-10-2010 · founded in 2010
 turnover €8,651 (2025)
0830.100.561
Deposito- en Kredietkantoor Van Zele
registered office since 01-01-1966 · founded in 1966
 total assets €21,777 (2025)
0400.154.989

Timeline

Timeline

28 events since 2005

Deadline for the 2026 accounts: 30-04-2027

2025
Annual accounts 2025 filed PDFabbreviated format · 157 days before the deadline
2024
Annual accounts 2024 filed PDFabbreviated format · 163 days before the deadline
2023
New director appointed, resigned4 points ▸
  • Director appointment, (director (not named in the articles))
  • Registered office clause, Aloïs De Beulelaan 5, 9240 Zele
  • 20 shares
  • Director resignation, (manager)
  • The deed holds 5 more points.

Open the deed in the Belgian Official Gazette

Annual accounts 2023 filed PDFabbreviated format · 161 days before the deadline
Weakest financial year net -€5,081 The net result drops to -€5,081, the lowest from 2006 to 2025. It recovers the following year.
2022
Annual accounts 2022 filed PDFabbreviated format · 142 days before the deadline
2021
Annual accounts 2021 filed PDFabbreviated format · 142 days before the deadline
2020
Annual accounts 2020 filed PDFabbreviated format · 165 days before the deadline
2019
Annual accounts 2019 filed PDFabbreviated format · 163 days before the deadline
2018
Annual accounts 2018 filed PDFabbreviated format · 160 days before the deadline
Liquidity more than 8 times current ratio 2637.91 The current ratio rises from 297.42 to 2637.91. Short-term debt falls from €2,438 to €272.
2017
Annual accounts 2017 filed PDFabbreviated format · 147 days before the deadline
2016
Annual accounts 2016 filed PDFabbreviated format · 160 days before the deadline
2015
Annual accounts 2015 filed PDFabbreviated format · 159 days before the deadline
Liquidity more than 22 times current ratio 634.66 The current ratio rises from 27.76 to 634.66. Short-term debt falls from €27,122 to €1,146.
2014
Annual accounts 2014 filed PDFabbreviated format · 155 days before the deadline
2013
Annual accounts 2013 filed PDFabbreviated format · 163 days before the deadline
2012
Annual accounts 2012 filed PDFabbreviated format · 160 days before the deadline
2011
Annual accounts 2011 filed PDFabbreviated format · 159 days before the deadline
Liquidity more than 35 times current ratio 421.33 The current ratio rises from 11.86 to 421.33. Short-term debt falls from €58,274 to €1,549.
2010
Annual accounts 2010 filed PDFabbreviated format · 149 days before the deadline
Highest result from 2006 to 2025 net €235,381 ▲608% The operating result of €312,556 and the net result of €235,381 are both a record.
Equity above €500,000 equity €610,843 ▲62.7% With a profit in every financial year since 2006, equity grows to €610,843.
2009
Annual accounts 2008 filed PDFabbreviated format · 66 days before the deadline
2008
Liquidity more than 20 times current ratio 109.15 The current ratio rises from 5.40 to 109.15. Short-term debt falls from €77,832 to €4,930.
Annual accounts 2007 filed PDFabbreviated format · 45 days before the deadline
2007
Annual accounts 2006 filed PDFabbreviated format · 55 days before the deadline
2005
Incorporation PDFpublished on 23-12-2005

Financial milestones sit on the financial year-end date, not the filing date.

Sources: Publications in the Belgian Official GazetteFilings with the National Bank

History

On 13 December 2005, MAPICO was incorporated.1 Total assets went from €714,503 in 2019 to €692,286 in 2025.2

  1. 1KBO register
  2. 2National Bank, annual accounts 2019 and 2025

Company details

Identity

Enterprise number
0877.867.519
VAT number
BE 0877.867.519
Legal form
Private limited company
Status
Active, normal situation
Founded
13-12-2005
Financial year
ends on 30 September
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Third Friday of November at 18:00
deed of 28-12-2023 (in Dutch)
Peppol
Not found in the Peppol Directory
Name
MAPICO in Dutch
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 28-12-2023 (in Dutch)
Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Vlaams Gewest”
deed of 28-12-2023 (in Dutch)

Registered office and establishments

Alois De Beulelaan 5 registered office 9240 Zele

Buildings and parcels at the address

Ground area
4,501 m²
Buildings
528 m²
Volume, LiDAR
3,581 m³
Tallest building
17.7 m
Buildings to scale, each on its own parcel
528 m², 17.6 m 528 m², 17.6 m

Location

exact location from the address register On OpenStreetMap
10 companies at this address See who is registered here

Parcels

Cadastral parcelArea Buildings Height / floors
42028B0920/00H0004,501 m² 1 · 528 m² 17.6 m · 2

Invoicing and payment

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Register as of 13 November 2026 · Peppol Directory

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