Summary
Mapwave is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €9,932 and a net result of €8,932. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 13% of 9,701 sector peers (NACE 64, financial year 2025). The company has been active since 2021 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Activity
Activities of holding companies
NACE 64210Temporary employment agencies and other provision of personnel NACE 78200
1 site
Size
€173,101total assets 2025
- Staff
- 1 FTE
- Equity
- €9,932
- Profit
- €8,932
Turnover not published (micro format)
Financial health
Financial institution: outside the modelBankruptcy probability: sector outside the model
Signalsraises riskWeak solvency vs sectorneutralLatest accounts filed on timeShow the evidence
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
Bankruptcy probability, 12 months
This is a financial institution (bank, insurer or financial holding). A bank balance sheet works differently from that of an ordinary trading or manufacturing company. We therefore show no bankruptcy probability rather than a misleading figure.
Credit check for your own amount and term
Show the recommended maximum and see how the verdict changes with amount, term and advance.
Signals
Two signals.
raises riskneutral
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 13% of 9701 sector peers (2025).
NBB · sector comparisonPosition among 9701 sector peers
Solvency
better than 13%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 15-06-2026, 46 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
46 days early
2024
27 days early
2023
44 days early
2022
on the day
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 29 days before the deadline; the sector median (NACE 64) for financial year 2024 is 14 days before the deadline, and 28% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 26 June (3 of the last 4 filed years within 30 days of that day).
Companies Code · seven monthsWhere today falls in the filing period
21-10-2026 today31-12-2026 year end31-07-2027 deadline
- Annual accounts filedfinancial year 2025 · micro…
- Resignations: Maarten Andriessen (director) and Elies…Appointments: Maarten Andriessen BV (director)…
- Annual accounts filedfinancial year 2024 · micro…
Financials · financial year 2025, micro format
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€9,932▼ 89.2%
2024 · €91,583
Net result
€8,932▼ 78.1%
2024 · €40,767
Total assets
€173,101▼ 10.3%
2024 · €192,935
Solvency
5.7%▼ 41.7pp
2024 · 47.5%
Trend over the years
2022 to 2025, 4 financial years
The operating result has fallen two years in a row; 2025 is 74% below 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€13,563
2025
Net result€8,932
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€173,101
2025
Equity€9,932
2025
Debt€163,169
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€6,288
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)5.2%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency5.7%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio1.04
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)1
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 64, Financial service activities, except insurance and pension funding: 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
Line2022202320242025
Operating result€4,216-€56,258▲ 1,234%€51,933▼ 7.7%€13,563▼ 73.9%
Net result€3,129below the sector's middle half-€44,687within the sector's middle half▲ 1,328%€40,767within the sector's middle half▼ 8.8%€8,932within the sector's middle half▼ 78.1%
Equity€6,129below the sector's middle half-€50,816within the sector's middle half▲ 729%€91,583within the sector's middle half▲ 80.2%€9,932below the sector's middle half▼ 89.2%
Total assets€52,590below the sector's middle half-€67,494below the sector's middle half▲ 28.3%€192,935within the sector's middle half▲ 186%€173,101within the sector's middle half▼ 10.3%
Debt€46,461-€16,678▼ 64.1%€101,352▲ 508%€163,169▲ 61.0%
Working capital€2,324within the sector's middle half-€39,061within the sector's middle half▲ 1,581%€80,633within the sector's middle half▲ 106%€6,288within the sector's middle half▼ 92.2%
Solvency11.7%below the sector's middle half-75.3%within the sector's middle half▲ 63.6pp47.5%within the sector's middle half▼ 27.8pp5.7%below the sector's middle half▼ 41.7pp
Current ratio1.05within the sector's middle half-3.34within the sector's middle half▲ 2.291.80within the sector's middle half▼ 1.551.04within the sector's middle half▼ 0.76
Return on assets (ROA)5.9%within the sector's middle half-66.2%above the sector's middle half▲ 60.3pp21.1%within the sector's middle half▼ 45.1pp5.2%within the sector's middle half▼ 16.0pp
Staff (FTE)0.31
above
within
below
the middle half of NACE 64, Financial service activities, except insurance and pension funding: 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 €173,101
Fixed assets
€3,644 ▼ 66.7%
Current assets
€169,457 ▼ 6.9%
Equity and liabilities €173,101
Equity
€9,932 ▼ 89.2%
Debt
€163,169 ▲ 61.0%
Debt's share of the balance-sheet total rises from 52.5% to 94.3%. Equity is lower and debt is higher.
Key figures and ratios
ROE
89.9%▲
2024 · 44.5%
Debt ≤ 1 year
€163,169▲
2024 · €101,352
Income taxes
€3,193▼
2024 · €10,626
Staff costs
€49,482▲
2024 · €14,173
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €4,219 | €14,173 | €49,482 | ▲ 249% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | €271 | - |
| Other operating charges640/8 | €1,255 | €674 | €505 | €520 | ▲ 2.8% |
| Gross operating margin9900 | €5,471 | €61,151 | €66,611 | €63,836 | ▼ 4.2% |
| Operating profit (loss)9901 | €4,216 | €56,258 | €51,933 | €13,563 | ▼ 73.9% |
| Financial income75/76B | €0 | €72 | - | €31 | - |
| Recurring financial income75 | €0 | €72 | - | €31 | - |
| Financial charges65/66B | €19 | €130 | €539 | €1,469 | ▲ 172% |
| Recurring financial charges65 | €19 | €130 | €539 | €1,469 | ▲ 172% |
| Profit (loss) for the period before taxes9903 | €4,197 | €56,201 | €51,393 | €12,125 | ▼ 76.4% |
| Income taxes67/77 | €1,068 | €11,514 | €10,626 | €3,193 | ▼ 69.9% |
| Profit (loss) for the period9904 | €3,129 | €44,687 | €40,767 | €8,932 | ▼ 78.1% |
| Profit (loss) for the period to be appropriated9905 | €3,129 | €44,687 | €40,767 | €8,932 | ▼ 78.1% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €52,590 | €67,494 | €192,935 | €173,101 | ▼ 10.3% |
| Fixed assets21/28 | €3,805 | €11,755 | €10,950 | €3,644 | ▼ 66.7% |
| Tangible fixed assets22/27 | - | - | - | €867 | - |
| Plant, machinery and equipment23 | - | - | - | €867 | - |
| Financial fixed assets28 | €3,805 | €11,755 | €10,950 | €2,777 | ▼ 74.6% |
| Current assets29/58 | €48,785 | €55,739 | €181,985 | €169,457 | ▼ 6.9% |
| Amounts receivable within one year40/41 | €44,896 | €49,279 | €20,577 | €61,245 | ▲ 198% |
| Trade receivables40 | €34,987 | €42,690 | €19,682 | €60,058 | ▲ 205% |
| Other amounts receivable41 | €9,909 | €6,589 | €894 | €1,187 | ▲ 32.7% |
| Cash at bank and in hand54/58 | €2,314 | €35 | €135,418 | €76,076 | ▼ 43.8% |
| Deferred charges and accrued income490/1 | €1,575 | €6,424 | €25,991 | €32,136 | ▲ 23.6% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €52,590 | €67,494 | €192,935 | €173,101 | ▼ 10.3% |
| Equity10/15 | €6,129 | €50,816 | €91,583 | €9,932 | ▼ 89.2% |
| Contributions10/11 | €3,000 | €3,000 | €3,000 | €3,000 | = |
| Reserves13 | €3,129 | €47,816 | €88,583 | €6,932 | ▼ 92.2% |
| Distributable reserves133 | €3,129 | €47,816 | €88,583 | €6,932 | ▼ 92.2% |
| Amounts payable17/49 | €46,461 | €16,678 | €101,352 | €163,169 | ▲ 61.0% |
| Amounts payable within one year42/48 | €46,461 | €16,678 | €101,352 | €163,169 | ▲ 61.0% |
| Financial debts43 | - | - | €519 | €1,090 | ▲ 110% |
| Credit institutions430/8 | - | - | €519 | €1,090 | ▲ 110% |
| Trade debts44 | €45,345 | €16,654 | €89,817 | €57,917 | ▼ 35.5% |
| Suppliers440/4 | €45,345 | €16,654 | €89,817 | €57,917 | ▼ 35.5% |
| Taxes, remuneration and social security45 | €1,116 | - | €10,992 | €26,841 | ▲ 144% |
| Taxes450/3 | €1,116 | - | €7,298 | €14,879 | ▲ 104% |
| Remuneration and social security454/9 | - | - | €3,694 | €11,963 | ▲ 224% |
| Other amounts payable47/48 | - | €24 | €24 | €77,320 | ▲ 317,959% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,129 | €44,687 | €40,767 | €8,932 | ▼ 78.1% |
| + Depreciation and write-downs630 | - | - | - | €271 | - |
| Operating cash flow (approximation) | €3,129 | €44,687 | €40,767 | €9,203 | ▼ 77.4% |
| Investment in fixed assets (approximation) | - | -€7,950 | €805 | €7,035 | ▲ 774% |
| Change in cash | - | -€2,279 | €135,383 | -€59,342 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (4)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 15-06-2026 | 2026-00159744 |
| 31-12-2024 | micro format | 04-07-2025 | 2025-00229622 |
| 31-12-2023 | micro format | 17-06-2024 | 2024-00140000 |
| 31-12-2022 | micro format | 31-07-2023 | 2023-00309361 |
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Of the 24,460 active companies whose main activity is activities of holding companies (NACE 64210), figures are known for 19,967. 5,209 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Subsidies and aid
Flemish government
2024 to 2025 · 2 entries · €7,220 awarded · €7,220 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €2,907 | €2,907 |
| 2024 | 1 | €4,313 | €4,313 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Directors
2 directors, last change in 2025
Board 2
Elies Hendrickx CommV
CurrentDirector · since 19-11-2025 · Limited partnership · permanent representative: Elies Hendrickx
MAARTEN ANDRIESSEN BV
CurrentDirector · since 19-11-2025 · Private limited company · permanent representative: Maarten Andriessen
Permanent representatives 2
Elies Hendrickx
CurrentPermanent representative · since 19-11-2025 · for Elies Hendrickx CommV
Maarten Andriessen
CurrentPermanent representative · since 19-11-2025 · for MAARTEN ANDRIESSEN BV
Derived from published Gazette deeds. The KBO keeps the official list of office holders; we do not read it, so the two can differ.
See the directors and other office holders in the KBO →
Not every act has been read: a resignation may still be missing
3 of this company's 4 Belgian Official Gazette deeds have not been read yet. Appointments and resignations recorded in them are not yet in the list of directors: someone who resigned there may still be listed as sitting. The acts are in the Timeline.
Mandate history
4 people since 2025, 2 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Elies Hendrickx |
|
| MAARTEN ANDRIESSEN |
|
| Elies Hendrickx |
|
| Maarten Andriessen |
|
Owners and capital
Owners
No owners or capital events in the accounts and acts we read.
Group and network
Connections & network
1 connected companyThe connected companies are in the list below.
This company
Company
Director
Shareholding
+N: links not shown yet
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Linked via shared directors
BDO ADVISORY
Shared corporate director
→
History
Acts, filings and financial milestones
Next filing, financial year 2026, expected by
2026
15-06
NBB filing
Annual accounts filed
financial year 2025 · micro format
17-03
Gazette deed
Resignations: Maarten Andriessen (director) and Elies Hendrickx (director)Appointments: Maarten Andriessen BV (director) and Elies Hendrickx CommV (director) · Permanent representatives: Maarten Andriessen and Elies Hendrickx · Director discharge9 facts ▸
Gazette deed
Resignations: Maarten Andriessen (director) and Elies Hendrickx (director)
Appointments: Maarten Andriessen BV (director) and Elies Hendrickx CommV (director) · Permanent representatives: Maarten Andriessen and Elies Hendrickx · Director discharge9 facts ▸
- General meeting, 19-11-2025
- Director resignation, Maarten Andriessen (director)
- Director resignation, Elies Hendrickx (director)
- Director discharge, Maarten Andriessen
- Director discharge, Elies Hendrickx
- Director appointment, Maarten Andriessen BV (director)
- Director appointment, Elies Hendrickx CommV (director)
- Permanent representative, Maarten Andriessen
- Permanent representative, Elies Hendrickx
2025
04-07
NBB filing
Annual accounts filed
financial year 2024 · micro format
2024
17-06
NBB filing
Annual accounts filed
financial year 2023 · micro format
2023
31-12
Financial
Highest result from 2022 to 2025net €44,687 ▲1,328%
Operating result €56,258, net result €44,687, both a record.
31-12
Financial
Liquidity more than triplescurrent ratio 3.34
Current ratio from 1.05 to 3.34; short-term debt falls from €46,461 to €16,678.
31-07
NBB filing
Annual accounts filed
financial year 2022 · micro format
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
1 of 4 deeds read
About the unread acts
Of the 4 Belgian Official Gazette deeds we know for this company, 1 has been read. The other 3 have not been read yet: what they contain is neither established nor disproved here.
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Register details
Identification
Legal formPrivate limited company
Founded22-11-2021
Financial year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
78200Temporary employment agencies and other provision of personnel
62200Computer consultancy and computer facilities management
70200Business and other management consultancy
73200Market research and public opinion polling
82990Other business support services
85599Other education
E-invoicing
Reachable via Peppol
Peppol ID
0208:0777565856
Also
9925:BE0777565856
Registered
20-11-2024
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 21 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Recognitions · licences · registrations
Quality registration as a provider
1 live approvalQuality registration as a provider
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
Location & real-estate footprint
Registered office, Antwerpen · 1 establishment unit since 2021
Ground area
1,305 m²
Building footprint
1,305 m²
Building volume
23,316 m³
Parcel 11802B0262/00V000, Flanders · tallest building 31.6 m. Linked by address, not a title deed.
22
companies at this address
See who is registered here
1 establishment unit
Mapwave
since 2021unit no. 2.325.046.943
1 parcel
Flanders
1
(100%)
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 11802B0262/00V000 | Flanders | 1,305 m² | 1 · 1,305 m² | 31.6 m · 6 |
How the parcels are linked
Good to know
The parcel matches the address exactly.
1 of these parcels carries protected heritage: expect extra rules on renovation or sale.