MAPICSI
ActiveSummary
MAPICSI has been active since 2006 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €184,698 and a net result of €24,366. Equity is growing by about 16% per year across the filed financial years. The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
- Equity
- €184,698
- Profit
- €24,366
Why 94lowers riskSize: total assets €390,086No main activity registeredFounded in 2006Figures for financial year 2025 (filed 06-08-2026)Show the evidence
Checked score
Fewer than 1 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 (no NACE code, micro): better than 43% on solvency, 42% on liquidity, 59% on profitability and 73% 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).
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Signals
This company filed its last 7 accounts on average 16 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Annual accounts filedfinancial year 2024 · micro…
- Annual accounts filedfinancial year 2023 · micro…
Financials · financial year 2025, micro format
2025 annual accounts filed late (6 days) Filed on 6 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00384391.
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result recovers in 2025; 2025 is 159% above 2024.
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.
Use the arrow keys on the chart for the figures per year.
Peer companies
Historical observationOf the 34,693 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 0.1% 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 497,445 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 34,693 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 |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,681 | €62,283 | €18,024 | €20,314 | €26,931 | €28,303 | €29,485 | €28,989 | ▼ 1.7% |
| Other operating charges640/8 | - | - | - | €1,563 | €2,194 | €2,666 | €1,865 | €4,136 | ▲ 122% |
| Gross operating margin9900 | €27,294 | €10,162 | €55,144 | €67,443 | €63,456 | €62,808 | €46,095 | €71,296 | ▲ 54.7% |
| Operating profit (loss)9901 | €20,818 | -€53,619 | €35,649 | €45,566 | €34,331 | €31,839 | €14,745 | €38,171 | ▲ 159% |
| Financial income75/76B | - | - | - | - | €10 | €9 | €52 | €114 | ▲ 119% |
| Recurring financial income75 | €94 | €19 | - | - | €10 | €9 | €52 | €114 | ▲ 119% |
| Financial charges65/66B | - | - | - | €4,639 | €4,218 | €4,590 | €4,825 | €4,288 | ▼ 11.1% |
| Recurring financial charges65 | €755 | €4,610 | €5,199 | €4,639 | €4,218 | €4,590 | €4,825 | €4,288 | ▼ 11.1% |
| Profit (loss) for the period before taxes9903 | €20,157 | -€58,210 | €30,450 | €40,927 | €30,123 | €27,258 | €9,972 | €33,997 | ▲ 241% |
| Income taxes67/77 | €5,212 | €175 | €154 | €5,758 | €9,389 | €7,553 | €4,569 | €9,631 | ▲ 111% |
| Profit (loss) for the period9904 | €14,945 | -€58,385 | €30,296 | €35,169 | €20,734 | €19,705 | €5,403 | €24,366 | ▲ 351% |
| Profit (loss) for the period to be appropriated9905 | €14,750 | -€58,552 | €30,296 | €35,169 | €20,734 | €19,705 | €5,403 | €24,366 | ▲ 351% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €149,365 | €393,345 | €397,607 | €427,300 | €441,154 | €413,236 | €397,194 | €390,086 | ▼ 1.8% |
| Formation expenses20 | - | - | - | - | - | €1,166 | - | - | - |
| Fixed assets21/28 | €49,715 | €382,973 | €366,185 | €411,744 | €426,638 | €395,991 | €369,841 | €354,580 | ▼ 4.1% |
| Tangible fixed assets22/27 | €49,715 | €382,973 | €366,185 | €411,744 | €426,638 | €395,991 | €369,841 | €354,580 | ▼ 4.1% |
| Land and buildings22 | - | - | - | €411,177 | €422,383 | €394,257 | €368,282 | €353,197 | ▼ 4.1% |
| Furniture and vehicles24 | - | - | - | €567 | €4,255 | €1,734 | €1,559 | €1,383 | ▼ 11.3% |
| Current assets29/58 | €99,650 | €10,372 | €31,422 | €15,556 | €14,516 | €16,079 | €27,353 | €35,506 | ▲ 29.8% |
| Amounts receivable within one year40/41 | €32,610 | - | - | - | €4,000 | - | - | €2,404 | - |
| Trade receivables40 | - | - | - | - | €4,000 | - | - | - | - |
| Other amounts receivable41 | - | - | - | - | - | - | - | €2,404 | - |
| Cash at bank and in hand54/58 | €66,985 | €686 | €18,765 | €5,642 | €1,511 | €6,332 | €3,651 | €17,046 | ▲ 367% |
| Deferred charges and accrued income490/1 | - | - | - | €9,914 | €9,005 | €9,747 | €23,702 | €16,056 | ▼ 32.3% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €149,365 | €393,345 | €397,607 | €427,300 | €441,154 | €413,236 | €397,194 | €390,086 | ▼ 1.8% |
| Equity10/15 | €107,410 | €49,025 | €79,321 | €114,490 | €135,224 | €154,929 | €160,332 | €184,698 | ▲ 15.2% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €20,460 | €20,460 | = |
| Reserves13 | €32,271 | €32,438 | €32,438 | €32,438 | €32,438 | €32,438 | €30,578 | €30,578 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | - | - | - |
| Tax-exempt reserves132 | - | - | - | €30,578 | €30,578 | €30,578 | €30,578 | €30,578 | = |
| Profit (loss) carried forward14 | €56,539 | -€2,013 | €28,283 | €63,452 | €84,186 | €103,891 | €109,294 | €133,660 | ▲ 22.3% |
| Amounts payable17/49 | €41,955 | €344,320 | €318,286 | €312,810 | €305,930 | €258,307 | €236,862 | €205,388 | ▼ 13.3% |
| Amounts payable after more than one year17 | €20,209 | €242,027 | €223,272 | €204,146 | €184,643 | €164,754 | €146,843 | €130,318 | ▼ 11.3% |
| Financial debts170/4 | - | - | - | €204,146 | €184,643 | €164,754 | €146,843 | €130,318 | ▼ 11.3% |
| Amounts payable within one year42/48 | €15,773 | €96,321 | €89,042 | €102,692 | €115,315 | €87,581 | €84,047 | €69,098 | ▼ 17.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | €19,126 | €19,503 | €19,889 | €17,911 | €16,525 | ▼ 7.7% |
| Trade debts44 | €374 | €2,443 | €772 | €3,235 | €4,913 | €517 | €1,348 | €1,124 | ▼ 16.6% |
| Suppliers440/4 | - | - | - | €3,235 | €4,913 | €517 | €1,348 | €1,124 | ▼ 16.6% |
| Taxes, remuneration and social security45 | - | - | - | €11,758 | €16,897 | €7,553 | €1,554 | €1,554 | = |
| Taxes450/3 | - | - | - | €11,758 | €16,897 | €7,553 | €1,554 | €1,554 | = |
| Other amounts payable47/48 | - | - | - | €68,573 | €74,002 | €59,622 | €63,234 | €49,895 | ▼ 21.1% |
| Accrued charges and deferred income492/3 | - | - | - | €5,972 | €5,972 | €5,972 | €5,972 | €5,972 | = |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €14,945 | -€58,385 | €30,296 | €35,169 | €20,734 | €19,705 | €5,403 | €24,366 | ▲ 351% |
| + Depreciation and write-downs630 | €4,681 | €62,283 | €18,024 | €20,314 | €26,931 | €28,303 | €29,485 | €28,989 | ▼ 1.7% |
| Operating cash flow (approximation) | €19,626 | €3,898 | €48,320 | €55,483 | €47,665 | €48,008 | €34,888 | €53,355 | ▲ 52.9% |
| Investment in fixed assets (approximation) | - | -€395,541 | -€1,236 | -€65,873 | -€41,825 | €2,344 | -€3,335 | -€13,728 | ▼ 312% |
| Change in cash | - | -€66,299 | €18,079 | -€13,123 | -€4,131 | €4,821 | -€2,681 | €13,395 | - |
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 19 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 06-08-2026 | 2026-00384391 |
| 31-12-2024 | micro format | 26-08-2025 | 2025-00402692 |
| 31-12-2023 | micro format | 08-08-2024 | 2024-00334545 |
| 31-12-2022 | micro format | 01-09-2023 | 2023-00408825 |
| 31-12-2021 | micro format | 22-08-2022 | 2022-20300535 |
| 31-12-2020 | micro format | 30-07-2021 | 2021-43400032 |
| 31-12-2019 | micro format | 20-08-2020 | 2020-43400500 |
| 31-12-2018 | micro format | 29-08-2019 | 2019-55000406 |
| 31-12-2017 | micro format | 26-09-2018 | 2018-65200317 |
| 31-12-2016 | micro format | 18-08-2017 | 2017-44800279 |
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 |
|---|---|
| VANBILLOEN Véronique Elisabeth Lucienne Marie |
|
Owners and capital
Capital and shareholders
- 26-02-2024 Converted to unavailable equity
Group and network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
26-02
Gazette deed
Amendment of the articles · Legal-form change · Resignations & appointments · MiscellaneousResignation: VANBILLOEN Véronique Elisabeth Lucienne Marie (statutory manager) · Appointment: VANBILLOEN Véronique Elisabeth Lucienne Marie (statutory director) · Incorporation13 facts ▸
- General meeting, 16-02-2024
- Incorporation, 26-12-2006
- Other provision, “statuts non modifiés, non modifiés à ce jour” (deed in French)
- Legal-form conversion, “société à responsabilité limitée” (deed in French)
- Capital conversion, “compte de capitaux propres statutairement indisponible” (deed in French)
- Director resignation, VANBILLOEN Véronique Elisabeth Lucienne Marie (statutory manager)
- Director appointment, VANBILLOEN Véronique Elisabeth Lucienne Marie (statutory director)
- Director discharge, VANBILLOEN Véronique Elisabeth Lucienne Marie (gérant statutaire démissionnaire)
- Amendment of the articles
- Capital
- Board composition, VANBILLOEN Véronique Elisabeth Lucienne Marie (statutory director)
- Registered office clause, “1310 La Hulpe,avenue Croix de Lorraine,33” (deed in French)
- +1 further fact in this act
Show earlier events
About the unread acts
Of the 3 Belgian Official Gazette deeds we know for this company, 1 has been read. The other 2 have not been read yet: what they contain is neither established nor disproved here.
Register details
No listing in the Peppol Directory under this enterprise or VAT number. That proves nothing: being listed there is voluntary.
What can you do?
Try sending from your invoicing software; if that fails, ask the customer whether they already receive via Peppol.
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If you follow this company, Checked tells you the day it appears in the Peppol register.
Register as of 27 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental 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 |
|---|---|---|---|---|
| 25050A0075/00X002 | Wallonia | 487 m² | 1 · 98 m² | 9.0 m · 3 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “L’activité d’infirmière y compris les soins à domicile; Elle peut notamment se porter caution et donner toute sûreté personnelle ou réelle…” (deed in French)
6 activities (deed in French)
- L’activité d’infirmière y compris les soins à domicile.
- Elle peut notamment se porter caution et donner toute sûreté personnelle ou réelle en faveur de toute personne ou société liée ou non.
- En général elle pourra faire toutes les opérations mobilières financières ou immobilières ou connexes restant dans le cadre normal de ses activités ou qui seraient de nature à en favoriser le développement.
- Elle peut s'intéresser par voie d'apports de fusion d'absorption ou de souscription à toutes entreprises ou sociétés belge ou étrangère ayant un objet semblable analogue ou connexe ou de nature à favoriser celui de la société.
- La société pourra accepter un mandat d'administrateur éventuellement délégué à la gestion journalière de gérant dans d'autres sociétés.
- Ce mandat pourra être rémunéré ou gratuit.
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- MAPICSI
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Région wallonne, pas de changement en matière de régime linguistique applicable” (deed in French)
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “Organe d’administration, Article 11” (deed in French)“Fixe ou proportionnelle, Article 13” (deed in French)
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- “Nominatives, registre des actions nominatives avec mentions requises par le Code des sociétés et des associations” (deed in French)
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- One provision in the deed
- Share issue ruleHow and by whom new shares can be issued.
- “Apport en numéraire avec émission de nouvelles actions, portés à connaissance par courrier électronique ou par courrier ordinaire pour…” (deed in French)
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Prévues pour modifications aux statuts, assemblée générale” (deed in French)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Faculté assemblée générale de désigner liquidateurs et déterminer pouvoirs et émoluments, quelque cause et à quelque moment” (deed in French)