Equity
MAPIDE paid out €81,201 in dividends. That is 228% of the 2025 profit.
MAPIDE paid out €81,201 in dividends. That is 228% of the 2025 profit.
The micro format states no turnover.
Of this, €281,074 falls due within a year.
Green is investment, beige is depreciation.
Two of the last ten came late. The 2021 accounts came latest: 31 days after the end of the period.
More equity than 88% of companies in head offices and management consultancy. Sector median €78,218 · 39,392 companies.
The dashed line is the sector median: 0.1% across 4,522 companies (NACE 70, small).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 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 70, small). It does better than 19% of them on solvency, 57% on liquidity, 43% on profitability and 16% on growth.
The bankruptcy probability was computed on 07-11-2026 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.
The probability rests on the annual accounts with balance sheet date 30-09-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 4,107 companies had the same profile as MAPIDE has now. Each dot stands for 11 companies, two years later.
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MAPIDE itself: 0.1% within 12 months.
The method was tested on the 497,447 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.
| 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% |
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 4,107 companies, not a prediction for MAPIDE. 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.
Liquidity is tight, with a current ratio of 1.39 (1.51 in 2024), below the usual 1.5. Short-term debt is 10.4% and cash 1.4% of total assets. 82.4% of the assets are financed with debt and provisions.
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.
The company filed its last 7 accounts on average 7 days before the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
These companies have the same main activity as MAPIDE: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €2.6m and €2.9m, founded between 2007 and 2011.
MAPIDE files the micro format. That format states no turnover. The gross margin rose from €17,034 in 2010 to €285,112 in 2025.
The balance sheet grew most from 2019 to 2021 through fixed assets, financed with long-term debt.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €410,000. Estimated: probably between €340,000 and €710,000.
Higher than 22% of 39,360 companies in 2025.
Higher than 36% of 38,044 companies in 2025.
Higher than 22% of 38,516 companies in 2025.
Net result: middle half · Equity: top quarter · Balance sheet total: top quarter · Working capital: middle half
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||||
20/58 |
2.7m | 2.0m | 2.2m | 2.2m | 2.3m | 910,848 | 819,812 | 616,629 | 607,815 | 170,208 | 144,307 | 133,295 | 114,817 | 135,655 | 113,189 | |
20 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 250 | |
21/28 |
2.3m | 1.6m | 1.8m | 2.2m | 2.2m | 772,861 | 762,796 | 511,231 | 499,119 | 81,399 | 87,149 | 92,966 | 98,799 | 104,649 | 70,658 | |
22/27 |
1.5m | 1.6m | 1.7m | 2.1m | 2.2m | 747,860 | 762,795 | 511,230 | 499,119 | 81,399 | 87,149 | 92,966 | 98,799 | 104,649 | 70,408 | |
22 |
302,899 | 328,635 | 354,371 | 598,059 | 637,417 | 570,637 | 603,410 | 363,742 | 382,893 | 81,399 | 87,149 | 92,900 | 98,650 | 104,400 | 70,408 | |
24 |
11,531 | 17,144 | 30,948 | 41,813 | 27,866 | - | 220 | 440 | - | - | - | 66 | 149 | 249 | - | |
25 |
1.0m | 1.1m | 1.1m | 1.2m | 1.3m | - | - | - | - | - | - | - | - | - | - | |
26 |
146,655 | 184,850 | 190,358 | 244,851 | 238,087 | 177,223 | 159,165 | 147,047 | 116,226 | - | - | - | - | - | - | |
28 |
846,201 | 25,001 | 25,001 | 50,001 | 25,001 | 25,001 | 1 | 1 | - | - | - | - | - | - | - | |
29/58 |
390,945 | 391,193 | 450,169 | 87,347 | 55,151 | 137,986 | 57,016 | 105,398 | 108,696 | 88,809 | 57,158 | 40,329 | 16,018 | 31,006 | 42,531 | |
40/41 |
200,565 | 67,407 | 73,391 | 42,558 | 20,912 | 68,536 | 48,708 | 34,649 | 38,474 | 17,748 | 13,636 | 16,625 | 8,756 | 11,650 | 11,918 | |
40 |
44,765 | 42,407 | 46,946 | 39,170 | 18,442 | 65,386 | 36,588 | 34,649 | 32,031 | 16,538 | 13,636 | 16,625 | 8,731 | 11,645 | 11,918 | |
41 |
155,800 | 25,000 | 26,446 | 3,388 | 2,470 | 3,150 | 12,120 | - | 6,443 | 1,210 | - | - | 25 | 5 | - | |
50/53 |
145,915 | 598 | 1,125 | 4,969 | 9,068 | 2,017 | - | - | - | - | - | - | - | - | - | |
54/58 |
37,451 | 317,368 | 363,018 | 24,178 | 16,815 | 65,448 | 5,035 | 61,646 | 69,436 | 71,061 | 43,522 | 23,704 | 7,262 | 19,321 | 30,577 | |
490/1 |
7,014 | 5,819 | 12,635 | 15,641 | 8,355 | 1,985 | 3,273 | 9,103 | 786 | - | - | - | - | 35 | 36 | |
| Balance sheet: equity and liabilities | ||||||||||||||||
10/49 |
2.7m | 2.0m | 2.2m | 2.2m | 2.3m | 910,848 | 819,812 | 616,629 | 607,815 | 170,208 | 144,307 | 133,295 | 114,817 | 135,655 | 113,189 | |
10/15 |
478,579 | 524,204 | 499,495 | 461,503 | 412,748 | 361,717 | 280,516 | 233,882 | 201,003 | 87,908 | 41,324 | 20,969 | -1,331 | 5,994 | 13,672 | |
10/11 |
12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | |
13 |
466,179 | 511,804 | 487,095 | 449,103 | 400,348 | 349,317 | 268,116 | 221,482 | 188,603 | 75,508 | 28,924 | 8,569 | 63 | 63 | 63 | |
130/1 |
- | - | - | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 63 | 63 | 63 | |
1311 |
- | - | - | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | - | |
132 |
37,500 | 37,500 | 37,500 | 80,900 | 80,900 | 80,900 | 80,900 | 80,900 | 37,500 | 18,750 | - | - | - | - | - | |
133 |
428,679 | 474,304 | 449,595 | 366,343 | 317,588 | 266,557 | 185,356 | 138,722 | 149,243 | 54,898 | 27,064 | 6,709 | - | - | - | |
14 |
- | - | - | - | - | - | - | - | - | - | - | - | -13,794 | -6,469 | 1,209 | |
17/49 |
2.2m | 1.5m | 1.7m | 1.8m | 1.9m | 549,131 | 539,296 | 382,748 | 406,812 | 82,299 | 102,983 | 112,326 | 116,148 | 129,661 | 99,517 | |
17 |
1.9m | 1.2m | 1.4m | 1.5m | 1.6m | 392,917 | 447,417 | 243,917 | 289,417 | 48,000 | 60,000 | 72,000 | 84,001 | 96,000 | 72,026 | |
170/4 |
1.9m | 1.2m | 1.4m | 1.5m | 1.6m | 392,917 | 447,417 | 243,917 | 289,417 | 48,000 | 60,000 | 72,000 | 84,001 | 96,000 | 72,026 | |
42/48 |
281,074 | 258,722 | 321,790 | 267,521 | 211,755 | 155,347 | 91,863 | 138,753 | 117,162 | 34,099 | 42,574 | 39,797 | 31,335 | 33,247 | 25,234 | |
42 |
131,312 | 135,808 | 134,736 | 133,679 | 132,636 | 54,500 | 63,500 | 45,500 | 45,500 | 12,000 | 12,000 | 12,000 | 11,999 | 12,000 | 12,000 | |
44 |
2,937 | 4,215 | 1,123 | 6,174 | 18,160 | 49,207 | 18,232 | 51,147 | 53,925 | 6,036 | 1,948 | 3,803 | 275 | 5,423 | 4,899 | |
440/4 |
2,937 | 4,215 | 1,123 | 6,174 | 18,160 | 49,207 | 18,232 | 51,147 | 53,925 | 6,036 | 1,948 | 3,803 | 275 | 5,423 | 4,899 | |
45 |
27,859 | 46,829 | 49,550 | 56,917 | 40,197 | 51,140 | 9,828 | 41,621 | 14,351 | 12,779 | 21,878 | 14,347 | 7,541 | 4,139 | 8,335 | |
450/3 |
27,047 | 45,917 | 48,876 | 53,494 | 36,918 | 47,869 | 6,590 | 41,621 | 11,548 | 9,982 | 18,537 | 14,347 | 4,756 | 1,514 | 4,547 | |
454/9 |
813 | 912 | 674 | 3,423 | 3,279 | 3,271 | 3,238 | - | 2,803 | 2,797 | 3,341 | - | 2,785 | 2,625 | 3,788 | |
47/48 |
118,966 | 71,870 | 136,381 | 70,752 | 20,762 | 501 | 304 | 485 | 3,386 | 3,284 | 6,748 | 9,647 | 11,520 | 11,685 | - | |
492/3 |
26,480 | 8,866 | 5,903 | 1,830 | 1,301 | 866 | 16 | 77 | 233 | 201 | 409 | 529 | 812 | 414 | 2,257 | |
| Income statement | ||||||||||||||||
76A |
9,716 | 6,440 | 150,679 | - | - | - | - | - | 30,560 | 13,306 | - | - | - | - | - | |
9900 |
285,112 | 259,665 | 420,518 | 315,639 | 293,648 | 186,839 | 168,194 | 119,561 | 286,751 | 62,640 | 47,077 | 49,126 | 10,161 | 22,164 | 17,034 | |
62 |
- | - | - | - | - | - | - | - | - | - | - | 45 | - | - | - | |
630 |
137,443 | 140,261 | 141,489 | 154,018 | 183,695 | 56,150 | 90,727 | 38,483 | 93,686 | 5,750 | 5,817 | 5,833 | 5,850 | 20,916 | 14,367 | |
640/8 |
12,982 | 17,566 | 3,461 | 27,932 | 9,135 | 6,042 | 4,252 | 3,653 | 6,565 | 9,251 | 1,522 | 1,638 | 1,605 | 937 | 348 | |
66A |
6,622 | - | 33,788 | - | - | - | - | - | 50,824 | 28,328 | 25,790 | 30,211 | 21,808 | 19,946 | - | |
9901 |
128,065 | 101,838 | 241,781 | 133,689 | 100,818 | 124,647 | 73,215 | 77,425 | 135,677 | 47,638 | 39,738 | 41,610 | 2,706 | 311 | 2,319 | |
75/76B |
7,815 | 10,582 | 206 | 151 | 1 | 424 | 606 | 30 | 3 | 26 | 38 | 70 | 10 | 65 | 36 | |
75 |
7,815 | 10,582 | 206 | 151 | 1 | 424 | 606 | 30 | 3 | 26 | 38 | 70 | 10 | 65 | 36 | |
65/66B |
67,906 | 28,932 | 27,061 | 26,694 | 21,705 | 5,893 | 3,902 | 4,751 | 7,921 | 3,081 | 5,157 | 7,433 | 9,670 | 8,019 | 571 | |
65 |
62,135 | 28,932 | 27,061 | 26,694 | 21,705 | 5,893 | 3,902 | 4,751 | 7,921 | 3,081 | 5,157 | 7,433 | 9,670 | 8,019 | 571 | |
66B |
5,772 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
9903 |
67,974 | 83,489 | 214,926 | 107,146 | 79,115 | 119,179 | 69,919 | 72,704 | 127,760 | 29,561 | 8,829 | 4,036 | -28,762 | -27,589 | 1,784 | |
67/77 |
32,398 | 58,779 | 62,235 | 58,392 | 28,084 | 37,978 | 23,284 | 39,825 | 14,665 | -17,024 | -11,526 | -18,263 | -21,437 | -19,911 | 511 | |
9904 |
35,576 | 24,710 | 152,691 | 48,755 | 51,031 | 81,201 | 46,635 | 32,879 | 113,094 | 46,585 | 20,355 | 22,299 | -7,325 | -7,678 | 1,273 | |
789 |
- | - | 43,400 | - | - | - | - | - | - | - | - | - | - | - | - | |
689 |
- | - | - | - | - | - | - | 43,400 | 18,750 | 18,750 | - | - | - | - | - | |
9905 |
35,576 | 24,710 | 196,091 | 48,755 | 51,031 | 81,201 | 46,635 | -10,521 | 94,344 | 27,835 | 20,355 | 22,299 | -7,325 | -7,678 | 1,273 | |
| Appropriation of the result | ||||||||||||||||
9906 |
35,576 | 24,710 | 196,091 | 48,755 | 51,031 | 81,201 | 46,635 | -10,521 | 94,344 | 27,835 | 20,355 | 8,505 | -13,794 | -6,469 | 1,273 | |
791/2 |
81,201 | - | 114,699 | - | - | - | - | 10,521 | - | - | - | - | - | - | - | |
691/2 |
35,576 | 24,710 | 196,091 | 48,755 | 51,031 | 81,201 | 46,635 | - | 94,344 | 27,835 | 20,355 | 8,505 | - | - | 64 | |
6921 |
35,576 | 24,710 | 196,091 | 48,755 | 51,031 | 81,201 | 46,635 | - | 94,344 | 27,835 | 20,355 | 8,505 | - | - | 64 | |
694/7 |
81,201 | - | 114,699 | - | - | - | - | - | - | - | - | - | - | - | - | |
694 |
81,201 | - | 114,699 | - | - | - | - | - | - | - | - | - | - | - | - | |
| Document | ||||||||||||||||
The notes to these accounts have 15 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 30-04-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 30-04-2026 | 2026-00101208 | |
| 30-09-2024 | micro format | 20-03-2025 | 2025-00053162 | |
| 30-09-2023 | micro format | 29-04-2024 | 2024-00077036 | |
| 30-09-2022 | micro format | 04-05-2023 | 2023-00084752 | |
| 30-09-2021 | micro format | 31-05-2022 | 2022-20044055 | |
| 30-09-2020 | micro format | 22-03-2021 | 2021-08000517 | |
| 30-09-2019 | micro format | 28-04-2020 | 2020-10900460 | |
| 30-09-2018 | micro format | 17-04-2019 | 2019-10300585 | |
| 30-09-2017 | micro format | 30-03-2018 | 2018-08900392 | |
| 31-12-2015 | abbreviated format | 11-07-2016 | 2016-30000379 | |
| 31-12-2014 | abbreviated format | 22-07-2015 | 2015-33600547 | |
| 31-12-2013 | abbreviated format | 20-08-2014 | 2014-46100318 | |
| 31-12-2012 | abbreviated format | 26-08-2013 | 2013-52600545 | |
| 31-12-2011 | abbreviated format | 19-07-2012 | 2012-31600502 | |
| 31-12-2010 | abbreviated format | 31-08-2011 | 2011-50800030 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 265,508 | 242,099 | 383,270 | 287,707 | 284,513 | 180,797 | 163,942 | 115,908 | 229,363 | 53,388 | 45,555 | 47,443 | 8,556 | 21,227 | 16,686 | ||
| 173,019 | 164,970 | 294,180 | 202,773 | 234,726 | 137,351 | 137,362 | 71,362 | 206,780 | 52,335 | 26,172 | 28,132 | -1,475 | 13,238 | 15,640 | ||
| 835,976 | 44,007 | 17,003 | 93,193 | 1.6m | 66,215 | 342,292 | 50,595 | 511,406 | 0 | 0 | 0 | 0 | 54,907 | 84,025 | ||
| -279,917 | -45,650 | 338,840 | 7,363 | -48,633 | 60,413 | -56,610 | -7,790 | - | 27,539 | 19,818 | 16,442 | -12,059 | -11,256 | - | ||
| 109,871 | 132,471 | 128,380 | -180,174 | -156,605 | -17,361 | -34,847 | -33,355 | -8,466 | 54,710 | 14,584 | 532 | -15,317 | -2,241 | 17,297 | ||
| 17.6% | 25.8% | 22.7% | 20.6% | 18.2% | 39.7% | 34.2% | 37.9% | 33.1% | 51.6% | 28.6% | 15.7% | -1.2% | 4.4% | 12.1% | ||
| 1.39 | 1.51 | 1.40 | 0.33 | 0.26 | 0.89 | 0.62 | 0.76 | 0.93 | 2.60 | 1.34 | 1.01 | 0.51 | 0.93 | 1.69 | ||
| 4.67 | 2.87 | 3.41 | 3.85 | 4.49 | 1.52 | 1.92 | 1.64 | 2.02 | 0.94 | 2.49 | 5.36 | - | 21.63 | 7.28 | ||
| 7.4% | 4.7% | 30.6% | 10.6% | 12.4% | 22.4% | 16.6% | 14.1% | 56.3% | 53.0% | 49.3% | 106.3% | - | -128.1% | 9.3% | ||
| 1.3% | 1.2% | 6.9% | 2.2% | 2.3% | 8.9% | 5.7% | 5.3% | 18.6% | 27.4% | 14.1% | 16.7% | -6.4% | -5.7% | 1.1% | ||
| 4.27 | 8.37 | 14.16 | 10.78 | 13.11 | - | - | - | - | - | - | - | - | - | - |
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.
| Item | 30-09-2025 | 30-09-2024 | 30-09-2023 | 30-09-2022 | 30-09-2021 |
|---|---|---|---|---|---|
| Mortgages, amount registered | €10,000 | €10,000 | €10,000 | €35,000 | €30,000 |
| €1.3m | €1.3m | €1.3m | €1.6m | €1.6m | |
| Carrying value of the mortgaged assets | €1.3m | €1.4m | €1.5m | €1.8m | €1.9m |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
| Item | 30-09-2025 | 30-09-2024 | 30-09-2023 | 30-09-2022 | 30-09-2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €14,776 | €44,007 | €17,003 | €68,193 | €1.6m |
| Financial fixed assets | €821,200 | - | - | €25,000 | - |
| €137,443 | €140,261 | €141,489 | €154,018 | €183,695 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 26% higher than in 2024. It is a recovery after the fall in 2024.
Debt's share of the balance-sheet total rises from 74.2% to 82.4%. Equity is lower and debt is higher.
Source: list of holdings in its own 30-09-2025 accounts. Every holding stands with its own latest accounts.
Source for every holding own accounts 30-09-2025
The board mandates are listed under Board mandates elsewhere. The network lets you explore the same ties.
Deadline for the 2026 accounts: 30-04-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Monseigneur De Haernelaan 74 registered office 8500 Kortrijk 64210 Activities of holding companies | 02-06-2010 | 2.188.316.535 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 34022E0057/00V003 | 176 m² | 1 · 92 m² | 13.6 m · 4 |
If something looks wrong or is missing, please tell us.