MAPLE TREE
ActiveSummary
MAPLE TREE has been active since 2014 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €273,001 and a net result of €89,146. Equity is growing by about 8.5% per year across the filed financial years. Its solvency ranks better than 39% of 11,720 sector peers (NACE 71, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Financials · financial year 2025, micro format
2025 annual accounts filed late (25 days) Filed on 25 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00423029.
Equity
€273,001▲ 48.5%
2024 · €183,855
Total assets
€645,032▲ 10.3%
2024 · €584,572
Net result
€89,146▲ 23.3%
2024 · €72,306
Working capital
-€196,294▲ 31.3%
2024 · -€285,771
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result recovers in 2025; 2025 is 23% above 2024 and is 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.
Operating result€119,631
2025
Net result€89,146
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€645,032
2025
Equity€273,001
2025
Debt€372,031
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€196,294
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)13.8%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency42.3%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.47
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 71, Architectural and engineering activities; technical testing and analysis: 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).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€69,685-€104,970▲ 50.6%€123,005▲ 17.2%€57,068▼ 53.6%€63,593▲ 11.4%€108,424▲ 70.5%€97,161▼ 10.4%€119,631▲ 23.1%
Net result€55,730-€83,894▲ 50.5%€98,378above the sector's middle half▲ 17.3%€44,128above the sector's middle half▼ 55.1%€50,107above the sector's middle half▲ 13.5%€85,213above the sector's middle half▲ 70.1%€72,306above the sector's middle half▼ 15.1%€89,146above the sector's middle half▲ 23.3%
Equity€124,082-€121,377▼ 2.2%€133,255within the sector's middle half▲ 9.8%€66,228within the sector's middle half▼ 50.3%€26,335within the sector's middle half▼ 60.2%€111,548within the sector's middle half▲ 324%€183,855above the sector's middle half▲ 64.8%€273,001above the sector's middle half▲ 48.5%
Total assets€154,051-€174,965▲ 13.6%€185,917within the sector's middle half▲ 6.3%€116,429within the sector's middle half▼ 37.4%€149,675within the sector's middle half▲ 28.6%€183,507within the sector's middle half▲ 22.6%€584,572above the sector's middle half▲ 219%€645,032above the sector's middle half▲ 10.3%
Debt€29,968-€53,588▲ 78.8%€52,662▼ 1.7%€50,201▼ 4.7%€123,340▲ 146%€71,959▼ 41.7%€400,717▲ 457%€372,031▼ 7.2%
Working capital€111,837-€112,294▲ 0.4%€128,977above the sector's middle half▲ 14.9%€66,285within the sector's middle half▼ 48.6%€26,399within the sector's middle half▼ 60.2%€110,071above the sector's middle half▲ 317%-€285,771below the sector's middle half-€196,294below the sector's middle half▲ 31.3%
Solvency80.5%-69.4%▼ 11.2pp71.7%within the sector's middle half▲ 2.3pp56.9%within the sector's middle half▼ 14.8pp17.6%below the sector's middle half▼ 39.3pp60.8%within the sector's middle half▲ 43.2pp31.5%within the sector's middle half▼ 29.3pp42.3%within the sector's middle half▲ 10.9pp
Current ratio4.96-3.10▼ 1.863.45within the sector's middle half▲ 0.352.32within the sector's middle half▼ 1.131.21within the sector's middle half▼ 1.112.53within the sector's middle half▲ 1.320.29below the sector's middle half▼ 2.240.47below the sector's middle half▲ 0.19
Return on assets (ROA)36.2%-47.9%▲ 11.8pp52.9%above the sector's middle half▲ 5.0pp37.9%above the sector's middle half▼ 15.0pp33.5%above the sector's middle half▼ 4.4pp46.4%above the sector's middle half▲ 13.0pp12.4%within the sector's middle half▼ 34.1pp13.8%within the sector's middle half▲ 1.5pp
above
within
below
the middle half of NACE 71, Architectural and engineering activities; technical testing and analysis: 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.
Turnover and EBIT margin not published: the micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €645,032
Fixed assets
€469,364 ▼ 0.1%
Current assets
€175,668 ▲ 52.9%
Equity and liabilities €645,032
Equity
€273,001 ▲ 48.5%
Debt
€372,031 ▼ 7.2%
Debt's share of the balance-sheet total falls from 68.5% to 57.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€119,958▲
2024 · €97,488
Cash flow
€89,473▲
2024 · €72,633
Debt to equity
1.36▼
2024 · 2.18
ROE
32.7%▼
2024 · 39.3%
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€371,962▼
2024 · €400,651
Income taxes
€30,488▲
2024 · €24,538
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,804 | €4,804 | €4,804 | €4,333 | - | €93 | €327 | €327 | = |
| Other operating charges640/8 | - | - | - | €1,245 | €936 | €1,055 | €870 | €820 | ▼ 5.8% |
| Gross operating margin9900 | €75,517 | €110,595 | €128,814 | €62,645 | €64,528 | €109,572 | €98,358 | €120,778 | ▲ 22.8% |
| Operating profit (loss)9901 | €69,685 | €104,970 | €123,005 | €57,068 | €63,593 | €108,424 | €97,161 | €119,631 | ▲ 23.1% |
| Financial income75/76B | - | - | - | - | €0 | €2 | - | €336 | - |
| Recurring financial income75 | - | €10 | - | - | €0 | €2 | - | €336 | - |
| Financial charges65/66B | - | - | - | €317 | €314 | €315 | €316 | €332 | ▲ 5.0% |
| Recurring financial charges65 | €363 | €240 | €216 | €317 | €314 | €315 | €316 | €332 | ▲ 5.0% |
| Profit (loss) for the period before taxes9903 | €69,322 | €104,740 | €122,789 | €56,751 | €63,278 | €108,112 | €96,845 | €119,635 | ▲ 23.5% |
| Income taxes67/77 | €13,592 | €20,845 | €24,411 | €12,623 | €13,171 | €22,899 | €24,538 | €30,488 | ▲ 24.2% |
| Profit (loss) for the period9904 | €55,730 | €83,894 | €98,378 | €44,128 | €50,107 | €85,213 | €72,306 | €89,146 | ▲ 23.3% |
| Profit (loss) for the period to be appropriated9905 | €55,730 | €83,894 | €98,378 | €44,128 | €50,107 | €85,213 | €72,306 | €89,146 | ▲ 23.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €154,051 | €174,965 | €185,917 | €116,429 | €149,675 | €183,507 | €584,572 | €645,032 | ▲ 10.3% |
| Fixed assets21/28 | €13,941 | €9,137 | €4,333 | - | €0 | €1,542 | €469,691 | €469,364 | ▼ 0.1% |
| Tangible fixed assets22/27 | €13,941 | €9,137 | €4,333 | - | €0 | €1,542 | €1,215 | €888 | ▼ 26.9% |
| Furniture and vehicles24 | - | - | - | - | €0 | €1,542 | €1,215 | €888 | ▼ 26.9% |
| Financial fixed assets28 | - | - | - | - | - | - | €468,476 | €468,476 | = |
| Current assets29/58 | €140,109 | €165,828 | €181,584 | €116,429 | €149,675 | €181,966 | €114,881 | €175,668 | ▲ 52.9% |
| Amounts receivable after more than one year29 | - | - | - | - | - | - | €51,000 | €31,889 | ▼ 37.5% |
| Other amounts receivable291 | - | - | - | - | - | - | €51,000 | €31,889 | ▼ 37.5% |
| Amounts receivable within one year40/41 | €99,725 | €71,219 | €103,730 | €43,354 | €55,353 | €86,789 | €41,479 | €63,231 | ▲ 52.4% |
| Trade receivables40 | - | - | - | €43,354 | €46,525 | €77,960 | €41,475 | €43,626 | ▲ 5.2% |
| Other amounts receivable41 | - | - | - | - | €8,829 | €8,829 | €4 | €19,604 | ▲ 5,186× |
| Cash at bank and in hand54/58 | €40,263 | €94,092 | €77,729 | €72,946 | €94,098 | €95,034 | €22,251 | €80,419 | ▲ 261% |
| Deferred charges and accrued income490/1 | - | - | - | €129 | €224 | €142 | €151 | €130 | ▼ 14.0% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €154,051 | €174,965 | €185,917 | €116,429 | €149,675 | €183,507 | €584,572 | €645,032 | ▲ 10.3% |
| Equity10/15 | €124,082 | €121,377 | €133,255 | €66,228 | €26,335 | €111,548 | €183,855 | €273,001 | ▲ 48.5% |
| Contributions10/11 | €6,200 | €18,600 | - | €18,600 | €18,600 | €20,460 | €20,460 | €20,460 | = |
| Reserves13 | €116,860 | €101,860 | €111,860 | €46,860 | €1,860 | €90,000 | €163,000 | €252,000 | ▲ 54.6% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | - | - | - | €45,000 | - | €90,000 | €163,000 | €252,000 | ▲ 54.6% |
| Profit (loss) carried forward14 | €1,022 | €917 | €2,795 | €768 | €5,875 | €1,088 | €395 | €541 | ▲ 37.1% |
| Amounts payable17/49 | €29,968 | €53,588 | €52,662 | €50,201 | €123,340 | €71,959 | €400,717 | €372,031 | ▼ 7.2% |
| Amounts payable after more than one year17 | €1,641 | - | - | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €28,273 | €53,533 | €52,607 | €50,144 | €123,276 | €71,895 | €400,651 | €371,962 | ▼ 7.2% |
| Trade debts44 | €4 | €456 | €107 | €393 | €679 | - | €2,721 | €676 | ▼ 75.2% |
| Suppliers440/4 | - | - | - | €393 | €679 | - | €2,721 | €676 | ▼ 75.2% |
| Advances received on contracts in progress46 | - | - | - | - | - | €44,815 | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €15,633 | €21,918 | €23,702 | €18,151 | €20,174 | ▲ 11.1% |
| Taxes450/3 | - | - | - | €15,633 | €21,918 | €23,702 | €18,151 | €20,174 | ▲ 11.1% |
| Other amounts payable47/48 | - | - | - | €34,118 | €100,679 | €3,379 | €379,779 | €351,112 | ▼ 7.5% |
| Accrued charges and deferred income492/3 | - | - | - | €57 | €64 | €64 | €66 | €69 | ▲ 5.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €55,730 | €83,894 | €98,378 | €44,128 | €50,107 | €85,213 | €72,306 | €89,146 | ▲ 23.3% |
| + Depreciation and write-downs630 | €4,804 | €4,804 | €4,804 | €4,333 | - | €93 | €327 | €327 | = |
| Operating cash flow (approximation) | €60,535 | €88,699 | €103,182 | €48,461 | €50,107 | €85,307 | €72,633 | €89,473 | ▲ 23.2% |
| Investment in fixed assets (approximation) | - | €0 | €0 | - | - | -€1,635 | -€468,476 | €0 | - |
| Change in cash | - | €53,829 | -€16,363 | -€4,783 | €21,151 | €937 | -€72,784 | €58,168 | - |
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 12 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 25-08-2026 | 2026-00423029 |
| 31-12-2024 | micro format | 29-09-2025 | 2025-00518721 |
| 31-12-2023 | micro format | 28-08-2024 | 2024-00396326 |
| 31-12-2022 | micro format | 25-08-2023 | 2023-00371147 |
| 31-12-2021 | micro format | 24-08-2022 | 2022-20310461 |
| 31-12-2020 | micro format | 19-08-2021 | 2021-50700072 |
| 31-12-2019 | micro format | 08-09-2020 | 2020-52100227 |
| 31-12-2018 | micro format | 27-08-2019 | 2019-52700271 |
| 31-12-2017 | micro format | 30-08-2018 | 2018-58100172 |
| 31-12-2016 | micro format | 29-08-2017 | 2017-51600005 |
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Of the 11,525 active companies whose main activity is engineering and related technical consultancy, excluding land surveyors (NACE 71121), figures are known for 6,754. 5,042 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.