Equity
€66,365 from €496,756 in 2014
Equity fell by 87% in 11 years.
MAVARI
Lifetime
19 annual accounts with figures on one time axis, 30 filings since 1996peak €117,279 (2024)
€81,625▼ 30.4%
lowest -€117,778 (2015)
€14,184▼ 83.8%
peak €496,756 (2014)
€66,365▲ 27.2%
€2.2m▼ 22.0%
Board4 names since 2017
-
Documentsfilings and deeds
27-04-20263 days before the deadline
2025micro format
Gross margin from €117,279 to €81,625Result from €87,645 to €14,184Equity from €52,181 to €66,365Debts from €2.8m to €2.2mCash from €440,261 to €265,228
Key points
from the 2025 annual accountsResult
€14,184 ▼ 83.8%
The result fell in 2025 from €87,645 to €14,184.
Turnover
≈ €110,000 estimated
The micro format states no turnover.
Debts
€2.2m 96% of the balance sheet
Financial debts 43%Suppliers 1%Taxes and wages 0%Other 56%
Of this, €1.3m falls due within a year.
Filings
30 annual accounts since 1996
The last five annual accounts were filed 1 to 27 days before the end of the period.
Position in the sector
€2.3m
Larger balance sheet than 90% of companies in real estate. Sector median €410,827 · 17,194 companies.
Checked score
93
Excellent
Financially stronger than 44% of small companies in real estate (NACE 68)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 6,995 companies (NACE 68, small).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.1%
01-2025: 0.1%● unchanged vs 12-2024
02-2025: 0.2%▲ +0.1 percentage points vs 01-2025
03-2025: 0.2%● unchanged vs 02-2025
04-2025: 0.2%● unchanged vs 03-2025highest value
05-2025: < 0.1%▼ -0.2 percentage points vs 04-2025lowest value
06-2025: < 0.1%● unchanged vs 05-2025lowest value
07-2025: < 0.1%● unchanged vs 06-2025lowest value
08-2025: < 0.1%● unchanged vs 07-2025lowest value
09-2025: < 0.1%● unchanged vs 08-2025
10-2025: < 0.1%● unchanged vs 09-2025
11-2025: 0.1%▲ +0.1 percentage points vs 10-2025
12-2025: 0.1%● unchanged vs 11-2025
01-2026: 0.1%● unchanged vs 12-2025
02-2026: 0.1%● unchanged vs 01-2026
03-2026: 0.1%● unchanged vs 02-2026
04-2026: 0.2%▲ +0.1 percentage points vs 03-2026
05-2026: 0.1%▼ -0.1 percentage points vs 04-2026
06-2026: 0.1%● unchanged vs 05-2026
07-2026: 0.1%● unchanged vs 06-2026
08-2026: 0.1%● unchanged vs 07-2026
09-2026: 0.1%● unchanged vs 08-2026
10-2026: 0.1%● unchanged vs 09-2026
11-2026: 0.1%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Equity €66,365 (2.9% of total assets)
lowers risk
Size: total assets €2.3m
Figures for financial year 2025 (filed on 27-04-2026)
Legal form: public limited company
Calculation
The band follows from the bankruptcy probability. 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 68, small). It does better than 20% of them on solvency, 30% on liquidity, 43% on profitability and 84% on growth.
The bankruptcy probability was computed on 09-11-2026 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.
The probability rests on the annual accounts with balance sheet date 30-09-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 1,217 companies had the same profile as MAVARI has now. Each dot stands for 4 companies, two years later.
95.9%
were still trading
2.5%
stopped another way
1.5%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of MAVARI itself is lower: 0.1% within 12 months. It rests on far more data about MAVARI than the profile alone.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,217 companies, not a prediction for MAVARI. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €6,000 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.27 (0.42 in 2024), below 1. Short-term debt is 54.7% and cash 11.5% of total assets. 97.1% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Seven signals.
lowers riskraises riskneutral
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 24% of 17190 sector peers (2025).
NBB · sector comparisonPosition among 17190 sector peers
Solvency
better than 24%
← weakest
strongest →
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year €66,365
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 27-04-2026, 3 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
3 days early
2024
7 days early
2023
27 days early
2022
19 days early
2021
1 day early
2020
7 days early
2019
41 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 15 days before the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The financial year that closed on 30-09-2026 is due by 30-04-2027. Nothing is late today. The company usually files around 23 April (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
30-09-2026 year end09-11-2026 today30-04-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0455867039
3 directors resigning, 4 reappointments
Change of role: Maeseele Paul, from director to managing director · Resignations: Van Riet Anna, Maeseele Peter and Maeseele Karel · Reappointments: Maeseele Paul, Van Riet Anna, Maeseele Peter and Maeseele Karel · General meeting of 09-05-2023 · Gazette deed
Environmental permit granted
Nieuwbouw of aanleggen · Brugge
Environmental permit granted
Bouwen of herbouwen, Nieuwbouw of aanleggen, Verwijderen van vrijstaande bijgebouwen, niet-overdekte lage constructies of andere beperkte handelingen · Brugge
Comparable companies
same main activity, similar in size and ageThese companies have the same main activity as MAVARI: renting and operating of own or leased residential real estate, excluding social housing (NACE 68201). They are comparable in size and age: total assets between €2m and €2.6m, founded between 1992 and 1999.
Official details
Source: KBO- Status
- Active since 23-08-1995Normal situation
- Activity
- Renting and operating of own or leased residential real estate, excluding social housingNACE 68201
- Establishment unit
- 2.074.457.4408020 Oostkamp, since 28-12-1995
- Financial year end
- 30 September
- Peppol
- Reachable since 27-03-2026
Annual accounts to 30-09-2025
- €2.3m▼ 22.1%
- Filing
- Filed on 27-04-2026, 3 days before the end of the filing period
Insights on MAVARI
MAVARI files the micro format. That format states no turnover. The gross margin rose from €42,673 in 2007 to €81,625 in 2025.
The balance sheet grew most from 2021 to 2022 through fixed assets, financed with long-term debt.
In June 2023, four directors stepped down.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about MAVARI
- What is the company number of MAVARI?
- The company number of MAVARI is 0455.867.039. The VAT number is the same number with BE in front: BE 0455.867.039.
- Where is MAVARI based?
- The registered office is at Torhoutsestraat 122, 8020 Oostkamp.Company details
- What does MAVARI do?
- According to the KBO register, the main activity is renting and operating of own or leased residential real estate, excluding social housing (NACE 68201).
- What is the legal form of MAVARI?
- MAVARI is a public limited company (NV).
- When was MAVARI founded?
- MAVARI was founded on 23-08-1995.
- Is MAVARI still active?
- Yes, MAVARI is an active enterprise in the KBO register.
- What is the turnover of MAVARI?
- The turnover in financial year 2025 is ≈ €110,000. This figure is estimated from the gross margin of €81,625 and 45 comparable companies (NACE 682). It probably lies between €91,000 and €130,000.Financials
- Is MAVARI profitable?
- In financial year 2025, MAVARI made a profit of €14,184.
- Where can I find the annual accounts of MAVARI?
- MAVARI filed 30 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of MAVARI due?
- MAVARI must file the annual accounts for financial year 2026 by 30-04-2027.Timeline
Next steps
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