MAVAM
ActiveSummary
MAVAM has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.7m and a net result of €831,992. Equity is growing by ~9.7% per year across the filed fiscal years. Its solvency ranks better than 80% of 9354 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability76▲+4
Solvency97▼-3
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €220,000 at 30 days acceptable
Liquidity ample (current ratio 3.24 against 18.7 in 2024; short-term debt: 15.7% and cash: 8.5% of total assets), and 27.6% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
72.4%
Return on assets
22.2%
Age of the figures
9 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
on the day
2023
31 d late
2022
24 d early
2021
23 d late
2020
44 d early
2019
28 d late
← 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 6 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 23 August (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#6 company by equity in Veurne, Real estate sector
Equity
€2.7m▲ 13.9%
2024 · €2.4m
Total assets
€3.8m▲ 27.8%
2024 · €2.9m
Net result
€831,992▲ 898%
2024 · €83,354
Working capital
€1.3m▼ 27.1%
2024 · €1.8m
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. 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 fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€43,225€27,412€175,439▲ 540%€128,964▼ 26.5%€21,833▼ 83.1%
Net result€870,433above the sector's middle half▲ 747%€83,768within the sector's middle half▼ 90.4%€112,505above the sector's middle half▲ 34.3%€83,354within the sector's middle half▼ 25.9%€831,992above the sector's middle half▲ 898%
Equity€2.5mabove the sector's middle half▲ 48.7%€2.4mabove the sector's middle half▼ 5.1%€2.4mabove the sector's middle half▼ 0.6%€2.4mabove the sector's middle half▲ 1.1%€2.7mabove the sector's middle half▲ 13.9%
Total assets€3.0mwithin the sector's middle half▲ 40.8%€2.5mwithin the sector's middle half▼ 17.1%€3.0mwithin the sector's middle half▲ 17.6%€2.9mwithin the sector's middle half▼ 0.7%€3.8mabove the sector's middle half▲ 27.8%
Debt€534,806▲ 12.8%€142,477▼ 73.4%€599,445▲ 321%€553,027▼ 7.7%€1.0m▲ 87.6%
Working capital€1.3mabove the sector's middle half▲ 51.1%€1.3mabove the sector's middle half▼ 2.7%€1.7mabove the sector's middle half▲ 37.6%€1.8mabove the sector's middle half▲ 3.5%€1.3mabove the sector's middle half▼ 27.1%
Solvency82.4%above the sector's middle half▲ 4.4pp94.3%above the sector's middle half▲ 12.0pp79.7%above the sector's middle half▼ 14.6pp81.2%above the sector's middle half▲ 1.4pp72.4%above the sector's middle half▼ 8.8pp
Current ratio3.44above the sector's middle half▲ 0.109.91above the sector's middle half▲ 6.4712.75above the sector's middle half▲ 2.8518.70above the sector's middle half▲ 5.943.24above the sector's middle half▼ 15.45
Return on assets (ROA)28.7%above the sector's middle half▲ 23.9pp3.3%within the sector's middle half▼ 25.4pp3.8%within the sector's middle half▲ 0.5pp2.8%within the sector's middle half▼ 1.0pp22.2%above the sector's middle half▲ 19.3pp
Staff (FTE)
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Why a figure moved sharply
- 2021 Net result +747% on 2020. The accounts now follow the abbreviated schema, last year the micro schema.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 83% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.8m
Fixed assets
€1.8m ▲ 80.1%
Current assets
€1.9m ▼ 0.3%
Equity and liabilities €3.8m
Equity
€2.7m ▲ 13.9%
Debt
€1.0m ▲ 87.6%
Debt's share of the balance-sheet total rises from 18.8% to 27.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€65,956▼
2024 · €179,492
Cash flow
€876,115▲
2024 · €133,882
Quick ratio
3.04▼
2024 · 17.52
Debt to equity
0.38▲
2024 · 0.23
ROE
30.7%▲
2024 · 3.5%
Interest coverage
3.58▼
2024 · 9.91
Debt ≤ 1 year
€587,362▲
2024 · €102,153
Debt > 1 year
€450,000=
2024 · €450,000
Income taxes
€90,801▲
2024 · €40,614
Staff costs
€0▼
2024 · €62
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 20,134 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
4.7%
stopped otherwise
95%
still going
For this company itself Checked computes a bankruptcy probability of 0.1% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 20,134 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | -€4,617 | €0 | - | €62 | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €61,268 | €50,098 | €50,786 | €50,528 | €44,123 | ▼ 12.7% |
| Other operating charges640/8 | €6,974 | €4,832 | €7,857 | €3,131 | €2,688 | ▼ 14.1% |
| Gross operating margin9900 | €20,400 | €82,342 | €234,081 | €182,684 | €68,644 | ▼ 62.4% |
| Operating profit (loss)9901 | -€43,225 | €27,412 | €175,439 | €128,964 | €21,833 | ▼ 83.1% |
| Financial income75/76B | €1.0m | €75,223 | €2,751 | €13,123 | €919,395 | ▲ 6,906% |
| Recurring financial income75 | €1.0m | €75,223 | €2,751 | €13,123 | €11,177 | ▼ 14.8% |
| Non-recurring financial income76B | €949 | - | - | - | €908,219 | - |
| Financial charges65/66B | €910 | €10,078 | €14,667 | €18,119 | €18,436 | ▲ 1.7% |
| Recurring financial charges65 | €910 | €10,078 | €14,667 | €18,119 | €18,436 | ▲ 1.7% |
| Profit (loss) for the period before taxes9903 | €957,957 | €92,558 | €163,522 | €123,968 | €922,793 | ▲ 644% |
| Income taxes67/77 | €87,525 | €8,790 | €51,017 | €40,614 | €90,801 | ▲ 124% |
| Profit (loss) for the period9904 | €870,433 | €83,768 | €112,505 | €83,354 | €831,992 | ▲ 898% |
| Profit (loss) for the period to be appropriated9905 | €870,433 | €83,768 | €112,505 | €83,354 | €831,992 | ▲ 898% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.0m | €2.5m | €3.0m | €2.9m | €3.8m | ▲ 27.8% |
| Fixed assets21/28 | €1.2m | €1.1m | €1.1m | €1.0m | €1.8m | ▲ 80.1% |
| Tangible fixed assets22/27 | €226,212 | €209,937 | €169,057 | €132,858 | €101,437 | ▼ 23.7% |
| Land and buildings22 | €174,562 | €147,338 | €119,978 | €101,367 | €75,471 | ▼ 25.5% |
| Plant, machinery and equipment23 | €7,600 | €24,648 | €20,944 | €17,239 | €13,597 | ▼ 21.1% |
| Furniture and vehicles24 | €44,050 | €34,913 | €25,098 | €11,214 | €9,332 | ▼ 16.8% |
| Other tangible fixed assets26 | - | €3,038 | €3,038 | €3,038 | €3,038 | = |
| Financial fixed assets28 | €967,725 | €892,725 | €892,725 | €892,725 | €1.7m | ▲ 95.6% |
| Current assets29/58 | €1.8m | €1.4m | €1.9m | €1.9m | €1.9m | ▼ 0.3% |
| Stocks and contracts in progress3 | €396,616 | €341,833 | €144,976 | €120,072 | €120,072 | = |
| Stocks30/36 | €367,983 | €341,833 | €144,976 | €120,072 | €120,072 | = |
| Contracts in progress37 | €28,633 | €0 | - | - | - | - |
| Amounts receivable within one year40/41 | €652,284 | €628,867 | €920,677 | €761,587 | €763,201 | ▲ 0.2% |
| Trade receivables40 | €39,503 | €34,167 | €22,147 | €6,756 | €8,172 | ▲ 21.0% |
| Other amounts receivable41 | €612,781 | €594,700 | €898,530 | €754,831 | €755,028 | = |
| Current investments50/53 | - | - | €350,162 | €692,950 | €700,768 | ▲ 1.1% |
| Cash at bank and in hand54/58 | €787,448 | €438,155 | €470,038 | €327,028 | €317,347 | ▼ 3.0% |
| Deferred charges and accrued income490/1 | €2,913 | €2,595 | €8,950 | €8,299 | €2,998 | ▼ 63.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.0m | €2.5m | €3.0m | €2.9m | €3.8m | ▲ 27.8% |
| Equity10/15 | €2.5m | €2.4m | €2.4m | €2.4m | €2.7m | ▲ 13.9% |
| Contributions10/11 | €157,500 | €157,500 | €157,500 | €157,500 | €157,500 | = |
| Capital10 | €157,500 | €157,500 | €157,500 | €157,500 | €157,500 | = |
| Issued capital100 | €157,500 | €157,500 | €157,500 | €157,500 | €157,500 | = |
| Reserves13 | €2.3m | €2.2m | €2.2m | €2.2m | €2.6m | ▲ 14.9% |
| Non-distributable reserves130/1 | €115,626 | €15,750 | €15,750 | €15,750 | €15,750 | = |
| Legal reserve130 | €115,626 | €15,750 | €15,750 | €15,750 | €15,750 | = |
| Distributable reserves133 | €2.2m | €2.2m | €2.2m | €2.2m | €2.5m | ▲ 15.0% |
| Profit (loss) carried forward14 | €0 | €0 | - | - | €0 | - |
| Amounts payable17/49 | €534,806 | €142,477 | €599,445 | €553,027 | €1.0m | ▲ 87.6% |
| Amounts payable after more than one year17 | - | - | €450,000 | €450,000 | €450,000 | = |
| Financial debts170/4 | - | - | €450,000 | €450,000 | €450,000 | = |
| Amounts payable within one year42/48 | €534,806 | €142,477 | €148,572 | €102,153 | €587,362 | ▲ 475% |
| Trade debts44 | €18,673 | €1,325 | €181 | €8,459 | €2,565 | ▼ 69.7% |
| Suppliers440/4 | €18,673 | €1,325 | €181 | €8,459 | €2,565 | ▼ 69.7% |
| Taxes, remuneration and social security45 | €123,338 | €107,756 | €29,426 | €35,694 | €84,573 | ▲ 137% |
| Taxes450/3 | €123,338 | €107,756 | €29,426 | €35,694 | €84,573 | ▲ 137% |
| Remuneration and social security454/9 | €0 | - | - | - | - | - |
| Other amounts payable47/48 | €392,796 | €33,396 | €118,965 | €58,000 | €500,224 | ▲ 762% |
| Accrued charges and deferred income492/3 | €0 | - | €873 | €873 | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €870,433 | €83,768 | €112,505 | €83,354 | €831,992 | ▲ 898% |
| + Depreciation and write-downs630 | €61,268 | €50,098 | €50,786 | €50,528 | €44,123 | ▼ 12.7% |
| Operating cash flow (approximation) | €931,701 | €133,866 | €163,291 | €133,882 | €876,115 | ▲ 554% |
| Investment in fixed assets (approximation) | - | €41,178 | -€9,906 | -€14,329 | -€866,000 | ▼ 5,944% |
| Change in cash | - | -€349,293 | €31,883 | -€143,010 | -€9,681 | ▲ 93.2% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 31 days late
05-05
State Gazette act
General meeting · Director resignation
Permanent representative · Director discharge
05-05
State Gazette act
General meeting · Director resignation
Permanent representative · Director discharge
2025
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 31 days late
2023
07-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Liquidity triplescurrent ratio 9.91
Current ratio from 3.44 to 9.91; short-term debt falls from €534,806 to €142,477.
23-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 23 days late
2021
31-12
Financial
Highest result since 2018net €870,433 ▲747%
Net result €870,433, the highest in the series.
31-12
Financial
Equity above €2mEq €2.5m ▲48.7%
4 profitable years in a row build equity to €2.5m.
17-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
28-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 28 days late
Show earlier events
2019
25-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
23-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
No directors read yet: 0 of 7 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Veurne · 1 establishment unit since 2003
Ground area
972 m²
Building footprint
360 m²
Volume, LiDAR
3,363 m³
Parcel 38025A0479/00G000, Flanders · tallest building 14.6 m, ±4 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
MAVAM
since 20032.126.525.159
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 38025A0479/00G000 | Flanders | 972 m² | 1 · 360 m² | 14.6 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Structure & network
Owners and holdings
3 holdingsOwners 0
The accounts to 31-12-2024 list no shareholders, and no other source names one.
Holdings 3
-
50%
-
50%
-
50%
According to the 2024 annual accounts of MAVAM and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Subsidies and aid
Flemish government
2025 · 1 entry · 1,491 EUR awarded · 1,491 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 1,491 EUR | 1,491 EUR |
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Of 7,321 companies in this sector we hold annual accounts for 5,387. 2,385 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPublic limited company
Founded03-03-2003
Fiscal year end31-12
Activities, NACEBEL 2025
68110Buying and selling of own real estate
E-invoicing
Reachable via Peppol
Peppol ID
0208:0479686576
Registered
27-03-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
General meetings
1 convocationExtraordinary general meeting
Agenda
1. Lezing van de jaarrekening per 31.12.2003. 2. Goedkeuring van de jaarrekening. 3. Kwijting aan de leden van de raad van bestuur. 4. Goedkeuring van de toewijzing van het resultaat. 5. Statutaire benoemingen. (79977) De raad van bestuur. Mathimmo, naamloze vennootschap, Leberg 34, 9660 Brakel H.R. Oudenaarde 553143 De raad van bestuur nodigt de aandeelhouders uit tot de jaarverga- dering op de maatschappelijke zetel op 11.06.2004, om 14 uur. Dagorde : 1. Verslag raad van bestuur. 2. Goedkeuring jaarrekening per 31.12.2003. 3. Bestemming resultaat. 4. Kwijting bestuurders. 4. Rond- vraag. Zich richten naar de statuten. (79978) Mavam, naamloze vennootschap, Wulpendammestraat 156, 8630 Veurne ...
Scores and ratios are computed by Checked and are not a credit decision.