MAZERAY
ActiveMAZERAY has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €46k and a net result of €12k. Equity is shrinking by ~18.2% per year across the filed fiscal years. Its solvency ranks better than 31% of 10289 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
68
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability75▲+52
Solvency46▼-10
Growth32=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3k at 30 days acceptable
Liquidity ample (current ratio 4.19 against 14.59 in 2024; short-term debt: 23.7% and cash: 24.3% of total assets), but 79.1% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five 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
Sector 47
higher
← 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 30-06-2025 was due by 31-01-2026 and was filed on 14-01-2026, 17 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
17 d early
2024
27 d late
2023
on the day
2022
on the day
2021
4 d early
2020
5 d early
2019
10 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close18-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€46k▼ 15.5%
2024 · €54k
2019: €148k
2020: €162k
2021: €147k
2022: €59k
2023: €65k
2024: €54k
2019 → 2025
Total assets
€219k▲ 23.9%
2024 · €177k
2019: €158k
2020: €173k
2021: €149k
2022: €173k
2023: €193k
2024: €177k
2019 → 2025
Net result
€12k
2024 · €-10k
2019: €13k
2020: €13k
2021: €-157
2022: €6k
2023: €18k
2024: €-10k
2019 → 2025
Working capital
€166k▲ 0.7%
2024 · €165k
2019: €146k
2020: €161k
2021: €147k
2022: €59k
2023: €65k
2024: €165k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€147k-€59k▼ 59.8%€65k▲ 9.3%€54k▼ 15.8%€46k▼ 15.5%
Operating result€-1k-€9k€28k▲ 220%€-10k€16k
Net result€-157-€6k€18k▲ 218%€-10k€12k
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 returns to profit in 2025: €16k after a loss of €10k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €219k
Fixed assets
€1k
Current assets
€218k
Equity and liabilities €219k
Equity
€46k▼ 15.5%
Debt
€173k▲ 41.4%
The debt ratio rises from 69.3% to 79.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€16k
Cash flow
€12k
Solvency
20.9%▼
2024 · 30.7%
Current ratio
4.19▼
2024 · 14.59
Quick ratio
1.21▼
2024 · 2.13
Debt / equity
3.77▲
2024 · 2.26
ROE
25.4%▲
2024 · -18.8%
ROA
5.3%▲
2024 · -5.8%
Interest coverage
17.38
Debt
€173k▲
2024 · €123k
Debt ≤ 1 year
€52k▲
2024 · €12k
Debt > 1 year
€120k▲
2024 · €110k
Income taxes
€4k▲
2024 · €0
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 · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€177k€219k▲
Fixed assets21/28-€1k
Tangible fixed assets22/27-€1k
Plant, machinery and equipment23-€1k
Current assets29/58€177k€218k▲
Stocks and contracts in progress3€151k€155k▲
Stocks30/36€151k€155k▲
Amounts receivable within one year40/41€11k€9k▼
Trade receivables40€8k€9k▲
Other amounts receivable41€3k€0▼
Cash at bank and in hand54/58€15k€53k▲
Deferred charges and accrued income490/1€575€0▼
Equity and liabilities
Total equity and liabilities10/49€177k€219k▲
Equity10/15€54k€46k▼
Contributions10/11€6k€6k=
Reserves13€51k€40k▼
Non-distributable reserves130/1€0-
Reserves not available under the articles1311€0-
Distributable reserves133€51k€40k▼
Profit (loss) carried forward14€-3k€0▲
Amounts payable17/49€123k€173k▲
Amounts payable after more than one year17€110k€120k▲
Financial debts170/4€110k€120k▲
Amounts payable within one year42/48€12k€52k▲
Trade debts44€387€11k▲
Suppliers440/4€387€11k▲
Taxes, remuneration and social security45€0€10k▲
Taxes450/3€0€10k▲
Other amounts payable47/48€12k€31k▲
Accrued charges and deferred income492/3-€845
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630-€139
Other operating charges640/8€2k€954▼
Gross operating margin9900€-8k€17k▲
Operating profit (loss)9901€-10k€16k▲
Financial income75/76B-€1
Recurring financial income75-€1
Financial charges65/66B€247€945▲
Recurring financial charges65€247€945▲
Profit (loss) for the period before taxes9903€-10k€15k▲
Income taxes67/77€0€4k▲
Profit (loss) for the period9904€-10k€12k▲
Profit (loss) for the period to be appropriated9905€-10k€12k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-10k€9k▲
Profit (loss) brought forward from the previous period14P-€-3k
Transfer from equity791/2€7k€20k▲
Transfer to equity691/2€0€9k▲
To other reserves6921€0€9k▲
Profit to be distributed694/7€0€20k▲
Return on contributions (dividend)694€0€20k▲
The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
14-01
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
30-06
Financial
Back to profitnet €12k
Net result €12k after one loss-making year.
27-02
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 27 days late
2024
30-06
Financial
Weakest financial yearnet €-10k ▼158%
Net result drops to €-10k, the lowest in the series; recovery starts the following year.
30-06
Financial
Liquidity times 10current ratio 14.59
Current ratio from 1.50 to 14.59; short-term debt falls from €129k to €12k.
31-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-06
Financial
Highest result since 2019net €18k ▲218%
Operating result €28k, net result €18k, both a record.
31-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-06
Financial
Back to profitnet €6k
Net result €6k after one loss-making year.
27-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-06
Financial
Liquidity times 5current ratio 83.64
Current ratio from 15.53 to 83.64; short-term debt falls from €11k to €2k.
26-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-06
Financial
Equity above €150kEq €162k ▲8.9%
2 profitable years in a row build equity to €162k.
21-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
19-03
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 47 days late
2018
27-02
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 27 days late
2017
08-02
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 8 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 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, Koksijde · 1 establishment unit since 2012
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.
La Charitéstraat(Odk) 128670 KoksijdeGround area
1,426 m²
Building footprint
151 m²
Volume, LiDAR
1,165 m³
Parcel 38502G0204/00_000, Flanders · tallest building 10.6 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
MAZERAY BVBA
since 20122.207.932.509
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 38502G0204/00_000 | Flanders | 1,426 m² | 1 · 151 m² | 10.6 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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 (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).
Public money · subsidies and aid
Flemish government
2022 to 2024 · 3 entries · 469 EUR awarded · 469 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 233 EUR | 233 EUR |
| 2023 | 1 | 114 EUR | 114 EUR |
| 2022 | 1 | 122 EUR | 122 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Food safety, FASFC
1 siteKoksijde2.207.932.509
Similar companies · same sector, comparable size
MarjoMi
BE 0650.930.178
Antwerpen · Eq €46k
OLD BACCHUS
BE 0437.919.762
Schoten · Eq €46k
HKR
BE 0697.656.068
Bornem · Eq €46k
Suppecom
BE 0463.956.047
Duffel · Eq €47k
WTB
BE 0793.683.791
Brecht · Eq €44k
Of 1,508 companies in sector 47252 we hold annual accounts for 651. 446 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded24-02-2012
Fiscal year end30-06
Activities, NACEBEL
47252Retail sale of beverages, general range
72200Scientific research and development
Sources
Crossroads Bank for EnterprisesNational Bank · 13 filingsAddress and cadastre registers
Data from official sources, last processed on 18-09-2026. Scores and ratios are computed by Checked and are not a credit decision.