Maspa

Active

Public limited companyfounded 1968active for 58 yearsMechanicalaan 10-12, 2610 Antwerpen, BelgiumKBO/BCE: BE 0405.936.684

From the official registers: KBO 49 annual accounts at the National Bank publications in the Belgian Official Gazette

Summary

Maspa has been active since 1968 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €621,535 and a net result of -€50,560. Equity remains stable across the filed financial years (±2.1% per year). Its solvency ranks better than 83% of 788 sector peers (NACE 10, financial year 2025). The computed 12-month bankruptcy probability is 0.9% (low).

Risk analysisFollow Report Compare

MaspaActiveChecked score 67/100

Risk analysis Report Compare

Official details

KBO

Status: Active since 03-08-1968 Normal situation
Legal form: Public limited company
Registered office: Mechanicalaan 10-12, 2610 Antwerpen
Activity: Manufacture of food products NACE 10890and 1 other
Establishment units: 2.037.420.563 2627 Schelle, since 01-10-1968
: 2.037.420.662 2610 Antwerpen, since 25-01-1989
Financial year end: 31 December
Peppol: Reachable since 04-11-2025

Company details

Who decides

Board

FOOD CONSULTANCY INVESTDirector · since 07-05-2024 · permanent representative Didier Hens
KandijfabriekDirector · since 07-05-2024

Shareholders

Board & ownership

How it is doing

67 Healthy Checked score 2025

Bankruptcy probabilitywithin 12 months: 0.9%

Annual accounts 2025

Gross margin: €234,818; ▼ 38.4%
Turnover: ≈ €600,000; estimated
Loss: €50,560
Equity: €621,535; ▼ 7.5%
Total assets: €876,622; ▼ 13.6%
Staff: 5.2 FTE; ▼ 22.4%

2025 accounts on time

Filed on 31-07-2026at the National Bank

Financials

Why 67raises riskLiquidity: current ratio 0.04, cash €6,735Loss of €50,560 (financial year 2025)Sector: Manufacture of food products (NACE 10)lowers riskEquity €621,535 (70.9% of total assets)Show the evidence

Checked score

Score 2025

67 / 100

Healthy

Probability in this band: 0.55% to 1.5%

Financially better than 40% of its sector peers (NACE 10, micro)

Every signal that counts is listed under Signals.

Financial strength · tick = 2024

Average

Solvency 96+5

equity 70.9% of total assets

Liquidity 39+3

short-term debt 29.0% · cash 0.8%

Profitability 12-57

return on assets -5.8%

Bankruptcy probability, 12 months

0.9% Low

0%0.5%1.5%4%10%≥ 25%

About 9 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 1.1% (3,081 companies, NACE 10, micro)

Last 24 months 11-2024: 0.7%lowest value 12-2024: 0.7%● unchanged vs 11-2024lowest value 01-2025: 0.7%● unchanged vs 12-2024lowest value 02-2025: 0.7%● unchanged vs 01-2025lowest value 03-2025: 0.7%● unchanged vs 02-2025lowest value 04-2025: 0.8%▲ +0.1 percentage points vs 03-2025 05-2025: 0.8%● unchanged vs 04-2025 06-2025: 0.8%● unchanged vs 05-2025 07-2025: 0.9%▲ +0.1 percentage points vs 06-2025 08-2025: 1.5%▲ +0.6 percentage points vs 07-2025highest value 09-2025: 0.9%▼ -0.6 percentage points vs 08-2025 10-2025: 0.9%● unchanged vs 09-2025 11-2025: 0.9%● unchanged vs 10-2025 12-2025: 0.9%● unchanged vs 11-2025 01-2026: 0.9%● unchanged vs 12-2025 02-2026: 0.9%● unchanged vs 01-2026 03-2026: 0.9%● unchanged vs 02-2026 04-2026: 0.9%● unchanged vs 03-2026 05-2026: 0.9%● unchanged vs 04-2026 06-2026: 0.9%● unchanged vs 05-2026 07-2026: 0.9%● unchanged vs 06-2026 08-2026: 0.9%● unchanged vs 07-2026 09-2026: 0.9%● unchanged vs 08-2026 10-2026: 0.9%● unchanged vs 09-2026

Credit of up to €40,000 on 30-day terms is acceptable

Liquidity insufficient (current ratio 0.04, compared with 0.43 in 2024, below 1; short-term debt: 29% and cash: 0.8% of total assets), and 29.1% of the assets are financed with debt and provisions.

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 (NACE 10, micro): better than 83% on solvency, 31% on liquidity, 16% on profitability and 29% on growth.

The bankruptcy probability was computed on 31-10-2026 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

Five signals.

lowers riskraises riskneutral

Liquidity: current ratio 0.04, cash €6,735

NBB · annual accounts

Loss of €50,560 (financial year 2025)

NBB · annual accounts

Sector: Manufacture of food products (NACE 10)

KBO

Equity €621,535 (70.9% of total assets)

NBB · annual accounts

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-07-2026, 0 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

on the day

2024

20 days late

2023

21 days late

2022

75 days early

2021

59 days early

2020

39 days early

2019

46 days early

← before the deadline after the deadline →

tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 25 days before the deadline; the sector median (NACE 10) for financial year 2024 is 4 days before the deadline, and 38% of those companies filed late.

Searched, nothing found (2)

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 31 July (4 of the last 5 filed years within 59 days of that day).

Companies Code · seven months

Where today falls in the filing period

01-11-2026 today31-12-2026 year end31-07-2027 deadline

No strike-offs in the KBO publications

Searched since 2021.

KBO publications · our coverage

Key points

Caution: From profit to loss in 2025after €4,289 in 2024 -€50,560 View
Caution: Among the weakest 19% on net resultsector median €135,029 · 791 companies -€50,560 View

Documents

Key facts about Maspa

What is the company number of Maspa?: 0405.936.684. In Belgium the VAT number is the company number with BE in front: BE 0405.936.684.
Where is Maspa based?: The registered office is at Mechanicalaan 10-12, 2610 Antwerpen.Company details
What does Maspa do?: According to the KBO register, the main activity is manufacture of food products (NACE 10890).
What is the legal form of Maspa?: Public limited company (NV).
When was Maspa founded?: On 03-08-1968.
Is Maspa still active?: Yes, Maspa is an active enterprise in the KBO register.
How many employees does Maspa have?: On average 5.2 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
What is the turnover of Maspa?: ≈ €600,000 in financial year 2025. Estimated from the gross margin of €234,818: probably between €360,000 and €1.1m, based on 1,644 comparable companies of the same size. A rough estimate.
Is Maspa profitable?: In financial year 2025, Maspa made a loss of €50,560.
Where can I find the annual accounts of Maspa?: Maspa filed 49 annual accounts with the National Bank of Belgium, the latest for financial year 2025.Annual accounts at the National Bank
When are the next annual accounts of Maspa due?: By 31-07-2027, for financial year 2026.Timeline