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MAPINA

Active
Private limited company·Vervaardiging van bovenkleding· 16 yrs active
Bruul 82 ·2800 Mechelen, Belgium
BE 0826.262.034
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Turnover
EBIT margin
Net result€-106k
Working capital€53k-62.6%
Directors1
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Annual accounts & ratios

Source: NBB · 2023
Annual accounts filed on 26-04-2024 with the NBB · fiscal year 2023 · verkort
€-600k€-400k€-200k€0Operating result 2018: €6k€6kNet result 2018: €-471k€-471kOperating result 2019: €47k€47kNet result 2019: €-465k€-465kOperating result 2020: €47k€47kNet result 2020: €-431k€-431kOperating result 2022: €4k€4kNet result 2022: €97k€97kOperating result 2023: €-182k€-182kNet result 2023: €-106k€-106k20182019202020222023
Operating resultNet result
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts — not a forecast, the extended trend.
growing Equity: growth of ~30.5%/year over 5 fiscal years — indicative, assuming unchanged policy.
€-500k€0€500k2024: €235k (€116k – €355k)2025: €361k (€170k – €552k)2026: €487k (€224k – €750k)2018: €-452k2019: €-446k2020: €-412k2022: €216k2023: €110k20182019202020222023202420252026
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil–Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

EBITDA
€-164k
18–23
Net profit
€-106k
18–23
Cash flow
€-88k
18–23
Total assets
€1.66M
-15.0% 18–23
Equity
€110k
-49.2% 18–23
Working capital
€53k
-62.6% 18–23
Employees (FTE)
26
-1.5% 18–23
Staff costs
€1.03M
-19.8% 18–23
Income taxes
€-3k
18–23
Dividends
€0
18–23
Debt
€1.55M
-10.8% 18–23
Debt ≤ 1y
€1.55M
-10.8% 18–23
Current ratio
1.03
-4.4% 18–23
Quick ratio
0.36
-17.3% 18–23
Solvency
6.6%
-40.2% 18–23
Debt / equity
14.12
+75.7% 18–23
ROE
-96.9%
18–23
ROA
-6.4%
18–23
Interest coverage
-7.09
18–23
Figures by fiscal year
Fiscal year2023
Revenue
EBITDA€-164k
Net profit€-106k
Cash flow€-88k
Staff costs€1.03M
Income taxes€-3k
Dividends
Total assets€1.66M
Equity€110k
Debt€1.55M
of which ≤ 1y€1.55M
of which > 1y
Working capital€53k
Employees (FTE)26.0
Ratios (computed)
2023
Current ratio1.03
Quick ratio0.36
Working capital ratio3.2%
Solvency6.6%
Debt / equity14.12
Long-term debt ratio
Interest coverage-7.09
Gross margin
Net margin
ROA-6.4%
ROE-96.9%
EBITDA margin
Days sales outstanding
Days payable outstanding
Inventory turnover
Days inventory (DSI)
Balance-sheet composition 2023
Full annual accounts
Filed balance sheet and income statement, exactly as deposited with the NBB.
Line item Code2023
Balance sheet — Assets
TOTAL ASSETS 20/58€1.66M
Fixed assets 21/28€57k
Tangible fixed assets 22/27€57k
Financial fixed assets 28€81
Current assets 29/58€1.60M
Stocks & contracts in progress 3€1.05M
Amounts receivable within one year 40/41€364k
Cash & bank 54/58€186k
Balance sheet — Equity & liabilities
TOTAL EQUITY & LIABILITIES 10/49€1.66M
Equity 10/15€110k
Contributions / capital 10/11€119k
Accumulated profits (losses) 14€-9k
Amounts payable 17/49€1.55M
Amounts payable within one year 42/48€1.55M
Trade debts payable within one year 44€432k
Income statement
Gross operating margin 9900€939k
Operating result 9901€-182k
Financial income 75€96k
Financial charges 65€23k
Result before taxes 9903€-109k
Income taxes 67/77€-3k
Net result for the period 9904€-106k
Result to be appropriated 9905€-106k
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Ratios computed by Checked.

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FY 2023 · computed
17 / 100 Critical
050100

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Computed by Checked from NBB filings and Belgian State Gazette signals. Indicative — not credit advice.