MAWIN
ActiveMAWIN has been active since 2000 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €370k and a net result of €-24k. Equity is shrinking by ~9% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2024
70
/ 100
Healthy
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability38▲+28
Solvency100=
Growth32=
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days acceptable
Liquidity ample (current ratio 51.35 against 24.25 in 2023; short-term debt: 1.2% and cash: 10.5% of total assets), and 1.2% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
98.8%
Return on assets
-6.5%
Age of the figures
21 mo
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
18192021222324
2018 to 2024 · latest year €-24k
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 26-08-2025, 26 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
not confirmed
2024
26 d late
2023
28 d late
2022
31 d late
2021
30 d late
2020
31 d late
2019
90 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, micro schema
Equity
€370k▼ 10.8%
2023 · €414k
2018: €650k
2019: €636k
2020: €521k
2021: €489k
2022: €456k
2023: €414k
2018 → 2024
Total assets
€374k▼ 12.0%
2023 · €425k
2018: €660k
2019: €636k
2020: €531k
2021: €502k
2022: €465k
2023: €425k
2018 → 2024
Net result
€-24k▲ 16.1%
2023 · €-29k
2018: €-18k
2019: €-13k
2020: €-16k
2021: €-28k
2022: €-27k
2023: €-29k
2018 → 2024
Working capital
€229k▼ 9.3%
2023 · €253k
2018: €402k
2019: €422k
2020: €326k
2021: €275k
2022: €268k
2023: €253k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€521k-€489k▼ 6.1%€456k▼ 6.8%€414k▼ 9.0%€370k▼ 10.8%
Operating result€-18k-€-23k▼ 22.9%€-27k▼ 21.1%€-28k▼ 2.9%€-27k▲ 5.5%
Net result€-16k-€-28k▼ 76.0%€-27k▲ 2.7%€-29k▼ 6.4%€-24k▲ 16.1%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €27k in 2024 against €28k in 2023; the loss shrinks.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €374k
Fixed assets
€141k▼ 13.0%
Current assets
€234k▼ 11.4%
Equity and liabilities €374k
Equity
€370k▼ 10.8%
Debt
€5k▼ 58.1%
The debt ratio falls from 2.6% to 1.2%. Equity and debt are lower.
Key figures and ratios
EBITDA
€194▲
2023 · €-2k
Cash flow
€2k▲
2023 · €-3k
Solvency
98.8%▲
2023 · 97.4%
Current ratio
51.35▲
2023 · 24.25
Quick ratio
51.35▲
2023 · 24.25
Debt / equity
0.01▼
2023 · 0.03
ROE
-6.6%▲
2023 · -7.0%
ROA
-6.5%▲
2023 · -6.8%
Interest coverage
3.25▲
2023 · -1.58
Debt
€5k▼
2023 · €11k
Debt ≤ 1 year
€5k▼
2023 · €11k
Income taxes
€160▼
2023 · €271
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€425k€374k▼
Fixed assets21/28€162k€141k▼
Tangible fixed assets22/27€162k€141k▼
Land and buildings22€140k€127k▼
Plant, machinery and equipment23-€1k
Furniture and vehicles24€21k€13k▼
Current assets29/58€264k€234k▼
Amounts receivable within one year40/41€2k€3k▲
Trade receivables40€2k-
Other amounts receivable41-€3k
Current investments50/53€243k€190k▼
Cash at bank and in hand54/58€19k€39k▲
Deferred charges and accrued income490/1-€577
Equity and liabilities
Total equity and liabilities10/49€425k€374k▼
Equity10/15€414k€370k▼
Contributions10/11€6k€6k=
Reserves13€408k€364k▼
Distributable reserves133€408k€364k▼
Amounts payable17/49€11k€5k▼
Amounts payable within one year42/48€11k€5k▼
Trade debts44€7k€1k▼
Suppliers440/4€7k€1k▼
Taxes, remuneration and social security45€2k€4k▲
Taxes450/3€2k€4k▲
Other amounts payable47/48€1k-
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€26k€27k▲
Other operating charges640/8€3k€3k▼
Gross operating margin9900€1k€3k▲
Operating profit (loss)9901€-28k€-27k▲
Financial income75/76B€659€2k▲
Recurring financial income75€659€2k▲
Financial charges65/66B€1k€60▼
Recurring financial charges65€1k€60▼
Profit (loss) for the period before taxes9903€-29k€-24k▲
Income taxes67/77€271€160▼
Profit (loss) for the period9904€-29k€-24k▲
Profit (loss) for the period to be appropriated9905€-29k€-24k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-29k€-24k▲
Transfer from equity791/2€41k€45k▲
Profit to be distributed694/7€12k€20k▲
Return on contributions (dividend)694€12k€20k▲
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2026
07-08
State Gazette act
Registered officeGeneral meeting · Registered-office move2 facts ▸
State Gazette act
Registered office
General meeting · Registered-office move2 facts ▸
- General meeting, 01/07/2026
- Registered-office move, Lessestraat 6, 8820 Torhout
2025
26-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 26 days late
2024
31-12
Financial
Liquidity doublescurrent ratio 51.35
Current ratio from 24.25 to 51.35; short-term debt falls from €11k to €5k.
28-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 28 days late
2023
31-12
Financial
Weakest financial yearnet €-29k
Net result drops to €-29k, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
29-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 90 days late
2019
31-12
Financial
Liquidity times 21current ratio 922.12
Current ratio from 43.86 to 922.12; short-term debt falls from €9k to €458.
20-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
26-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
17-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 17 days late
2016
31-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 31 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
5 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Torhout · 1 establishment unit since 2000
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Lessestraat 68820 TorhoutGround area
1,685 m²
Building footprint
315 m²
Volume, LiDAR
1,498 m³
2 parcels, Flanders · tallest building 8.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Herfstlaan 21, 8200 Brugge
since 20002.100.826.394
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31030A0351/00C004 | Flanders | 1,102 m² | 1 · 179 m² | 8.0 m · 2 fl. |
| 31522D0638/00K002 | Flanders | 583 m² | 1 · 136 m² | 6.3 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded24-05-2000
Fiscal year end31-12
Sources
Crossroads Bank for EnterprisesNational Bank · 24 filingsAddress and cadastre registers
Data from official sources, last processed on 19-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
1 entryE-mail:mjognoul@gmail.com