MAVI
ActiveSummary
MAVI has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €127,660 and a net result of €9,687. Equity is growing by ~7.6% per year across the filed fiscal years. Its solvency ranks better than 95% of 26040 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability77▲+18
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €10,000 at 30 days acceptable
Liquidity ample (current ratio 10.54 against 6.19 in 2023; short-term debt: 6.9% and cash: 61% of total assets), and 7.9% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 20-06-2025, 41 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
41 d early
2023
47 d early
2022
40 d early
2021
40 d early
2020
40 d early
2019
15 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 37 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€127,660▲ 3.8%
2023 · €122,937
Total assets
€138,617▼ 2.0%
2023 · €141,426
Net result
€9,687▼ 21.0%
2023 · €12,267
Working capital
€91,738▲ 2.8%
2023 · €89,236
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€10,942▲ 189%€15,536▲ 42.0%€21,932▲ 41.2%€18,109▼ 17.4%€14,416▼ 20.4%
Net result€8,137▲ 428%€9,897▲ 21.6%€15,013▲ 51.7%€12,267▼ 18.3%€9,687▼ 21.0%
Equity€96,815▲ 9.2%€95,657▼ 1.2%€110,670▲ 15.7%€122,937▲ 11.1%€127,660▲ 3.8%
Total assets€112,775▲ 6.7%€122,353▲ 8.5%€134,618▲ 10.0%€141,426▲ 5.1%€138,617▼ 2.0%
Debt€15,959▼ 6.1%€26,695▲ 67.3%€23,947▼ 10.3%€18,489▼ 22.8%€10,958▼ 40.7%
Working capital€53,627▼ 26.9%€61,972▲ 15.6%€80,913▲ 30.6%€89,236▲ 10.3%€91,738▲ 2.8%
Staff (FTE)2▼ 13.0%2=1.9▼ 5.0%1.9=1.5▼ 21.1%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2024 is 20% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €138,617
Fixed assets
€37,262 ▲ 6.5%
Current assets
€101,356 ▼ 4.8%
Equity and liabilities €138,617
Equity
€127,660 ▲ 3.8%
Debt
€10,958 ▼ 40.7%
Debt's share of the balance-sheet total falls from 13.1% to 7.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€14,928
Cash flow
€10,199
Current ratio
10.54▲
2023 · 6.19
Debt to equity
0.09▼
2023 · 0.15
ROE
7.6%▼
2023 · 10.0%
ROA
7.0%▼
2023 · 8.7%
Interest coverage
111.61
Debt ≤ 1 year
€9,617▼
2023 · €17,191
Income taxes
€4,790▼
2023 · €5,756
Staff costs
€56,555▲
2023 · €55,109
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,672 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
3.9%
stopped otherwise
95%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 34,672 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €35,773 | €45,985 | €55,109 | €56,555 | ▲ 2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,644 | €8,644 | - | - | €512 | - |
| Other operating charges640/8 | - | €101 | - | - | €118 | - |
| Gross operating margin9900 | €56,478 | €60,054 | €67,917 | €73,218 | €71,601 | ▼ 2.2% |
| Operating profit (loss)9901 | €10,942 | €15,536 | €21,932 | €18,109 | €14,416 | ▼ 20.4% |
| Financial income75/76B | - | - | - | - | €195 | - |
| Recurring financial income75 | - | - | - | - | €195 | - |
| Financial charges65/66B | - | €155 | €142 | €86 | €134 | ▲ 56.2% |
| Recurring financial charges65 | €224 | €155 | €142 | €86 | €134 | ▲ 56.2% |
| Profit (loss) for the period before taxes9903 | €10,719 | €15,381 | €21,790 | €18,023 | €14,477 | ▼ 19.7% |
| Income taxes67/77 | €2,582 | €5,484 | €6,777 | €5,756 | €4,790 | ▼ 16.8% |
| Profit (loss) for the period9904 | €8,137 | €9,897 | €15,013 | €12,267 | €9,687 | ▼ 21.0% |
| Profit (loss) for the period to be appropriated9905 | €8,137 | €9,897 | €15,013 | €12,267 | €9,687 | ▼ 21.0% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €112,775 | €122,353 | €134,618 | €141,426 | €138,617 | ▼ 2.0% |
| Fixed assets21/28 | €43,644 | €35,000 | €35,000 | €35,000 | €37,262 | ▲ 6.5% |
| Tangible fixed assets22/27 | €8,644 | - | - | - | €2,262 | - |
| Plant, machinery and equipment23 | - | - | - | - | €2,262 | - |
| Financial fixed assets28 | €35,000 | €35,000 | €35,000 | €35,000 | €35,000 | = |
| Current assets29/58 | €69,131 | €87,353 | €99,618 | €106,426 | €101,356 | ▼ 4.8% |
| Amounts receivable within one year40/41 | €22,119 | €22,265 | €19,243 | €17,615 | €15,490 | ▼ 12.1% |
| Trade receivables40 | - | €15,813 | €19,243 | €17,615 | €15,280 | ▼ 13.3% |
| Other amounts receivable41 | - | €6,452 | - | - | €210 | - |
| Cash at bank and in hand54/58 | €47,012 | €63,606 | €79,184 | €88,811 | €84,507 | ▼ 4.8% |
| Deferred charges and accrued income490/1 | - | €1,482 | €1,190 | - | €1,359 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €112,775 | €122,353 | €134,618 | €141,426 | €138,617 | ▼ 2.0% |
| Equity10/15 | €96,815 | €95,657 | €110,670 | €122,937 | €127,660 | ▲ 3.8% |
| Contributions10/11 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €56,448 | €55,290 | €70,303 | €82,570 | €87,293 | ▲ 5.7% |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €1,860 | - | - |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | €1,860 | - | - |
| Distributable reserves133 | - | €53,430 | €68,443 | €80,710 | €87,293 | ▲ 8.2% |
| Profit (loss) carried forward14 | €34,167 | €34,167 | €34,167 | €34,167 | €34,167 | = |
| Amounts payable17/49 | €15,959 | €26,695 | €23,947 | €18,489 | €10,958 | ▼ 40.7% |
| Amounts payable within one year42/48 | €15,504 | €25,381 | €18,705 | €17,191 | €9,617 | ▼ 44.1% |
| Trade debts44 | €992 | - | - | €105 | - | - |
| Suppliers440/4 | - | - | - | €105 | - | - |
| Taxes, remuneration and social security45 | - | €14,326 | €12,529 | €9,045 | €8,444 | ▼ 6.6% |
| Taxes450/3 | - | €9,939 | €11,002 | €7,255 | €6,317 | ▼ 12.9% |
| Remuneration and social security454/9 | - | €4,387 | €1,526 | €1,790 | €2,127 | ▲ 18.9% |
| Other amounts payable47/48 | - | €11,055 | €6,176 | €8,041 | €1,173 | ▼ 85.4% |
| Accrued charges and deferred income492/3 | - | €1,315 | €5,243 | €1,298 | €1,340 | ▲ 3.2% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €8,137 | €9,897 | €15,013 | €12,267 | €9,687 | ▼ 21.0% |
| + Depreciation and write-downs630 | €8,644 | €8,644 | - | - | €512 | - |
| Operating cash flow (approximation) | €16,781 | €18,540 | €15,013 | €12,267 | €10,199 | ▼ 16.9% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | -€2,774 | - |
| Change in cash | - | €16,594 | €15,578 | €9,627 | -€4,305 | ▼ 145% |
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
2025
20-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
14-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
21-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2018net €15,013 ▲51.7%
Operating result €21,932, net result €15,013, both a record.
31-12
Financial
Equity above €100,000Eq €110,670 ▲15.7%
5 profitable years in a row build equity to €110,670.
21-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
21-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
16-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
06-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
05-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
19-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
08-06
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Balen · 1 establishment unit since 2008
Ground area
854 m²
Building footprint
581 m²
Volume, LiDAR
6,850 m³
2 parcels, Flanders · tallest building 17.8 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
Veritas
since 20082.169.086.284
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13003A0739/00Z000 | Flanders | 456 m² | 1 · 183 m² | 10.1 m · 2 fl. |
| 13434F1013/00H000 | Flanders | 398 m² | 1 · 398 m² | 17.8 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
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VAPORMONKS
BE 0679.994.051
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GALERIJ HOBO
BE 0421.146.284
Rumst · Eq €125,913
MUZIEKHANDEL DEKEYSER
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Of 4,238 companies in sector 47789 we hold annual accounts for 1,019. 823 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded25-01-2008
Fiscal year end31-12
Activities, NACEBEL 2025
47715Retail trade
47789Other retail sale of new goods
E-invoicing
Reachable via Peppol
Peppol ID
0208:0895231509
Also
9925:BE0895231509
Registered
31-03-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.