MFA PROJECTS
ActiveSummary
MFA PROJECTS has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €57,726 and a net result of €1,364. Equity remains stable across the filed fiscal years (±0.1% per year). Its solvency ranks better than 94% of 31840 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability43▼-10
Solvency100▲+100
Growth52▲+20
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4,000 at 30 days acceptable
Liquidity ample (current ratio 19.4 against 0.57 in 2024; short-term debt: 5.2% and cash: 9.3% of total assets), and 5.2% of the assets are financed with debt.
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Signals
Four 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 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer 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
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
94.8%
Return on assets
2.2%
Age of the figures
9 mo
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
25 d late
2023
92 d late
2022
72 d late
2021
92 d late
2020
89 d late
2019
61 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 66 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% 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.
Companies Code · seven monthsPosition in the running window
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€57,726
2024 · -€13,638
Total assets
€60,863▲ 248%
2024 · €17,512
Net result
€1,364▼ 54.3%
2024 · €2,985
Working capital
€57,726
2024 · -€13,197
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
Line20212022202320242025
Operating result-€13,305€45,119-€4,243€8,413-€1,111
Net result-€20,502€36,609-€8,235€2,985€1,364▼ 54.3%
Equity€36,003▼ 36.3%€61,612▲ 71.1%€53,377▼ 13.4%-€13,638€57,726
Total assets€939,522▲ 6.1%€367,914▼ 60.8%€278,059▼ 24.4%€17,512▼ 93.7%€60,863▲ 248%
Debt€903,519▲ 9.0%€306,302▼ 66.1%€224,682▼ 26.6%€31,150▼ 86.1%€3,136▼ 89.9%
Working capital-€459,503▼ 116%-€26,185▲ 94.3%-€50,259▼ 91.9%-€13,197▲ 73.7%€57,726
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €1,111 after €8,413 in 2024.
Balance-sheet composition
Equity and liabilities €60,863
Equity
€57,726
Debt
€3,136
Debt finances 5.2% of the balance-sheet total.
Key figures and ratios
Current ratio
19.40▲
2024 · 0.57
Debt to equity
0.05▲
2024 · -2.28
ROE
2.4%
ROA
2.2%▼
2024 · 17.0%
Debt ≤ 1 year
€3,136▼
2024 · €30,709
Income taxes
€276
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €0 | - | - | €15,858 | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €46,675 | €5,663 | €10,019 | €0 | - | - |
| Other operating charges640/8 | €1,692 | €24,731 | €2,263 | €1,802 | €729 | ▼ 59.6% |
| Non-recurring operating charges66A | €0 | €16,641 | €0 | - | - | - |
| Gross operating margin9900 | €35,061 | €92,154 | €8,039 | €10,215 | -€382 | ▼ 104% |
| Operating profit (loss)9901 | -€13,305 | €45,119 | -€4,243 | €8,413 | -€1,111 | ▼ 113% |
| Financial income75/76B | €0 | €239 | €441 | €35 | €3,050 | ▲ 8,666% |
| Recurring financial income75 | €0 | €239 | €441 | €35 | €3,050 | ▲ 8,666% |
| Financial charges65/66B | €6,834 | €6,437 | €4,434 | €5,463 | €298 | ▼ 94.5% |
| Recurring financial charges65 | €6,834 | €6,437 | €4,434 | €5,463 | €298 | ▼ 94.5% |
| Profit (loss) for the period before taxes9903 | -€20,140 | €38,921 | -€8,235 | €2,985 | €1,640 | ▼ 45.0% |
| Income taxes67/77 | €362 | €2,312 | €0 | - | €276 | - |
| Profit (loss) for the period9904 | -€20,502 | €36,609 | -€8,235 | €2,985 | €1,364 | ▼ 54.3% |
| Profit (loss) for the period to be appropriated9905 | -€20,502 | €36,609 | -€8,235 | €2,985 | €1,364 | ▼ 54.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €939,522 | €367,914 | €278,059 | €17,512 | €60,863 | ▲ 248% |
| Fixed assets21/28 | €865,857 | €264,136 | €254,118 | €0 | - | - |
| Tangible fixed assets22/27 | €865,857 | €264,136 | €254,118 | €0 | - | - |
| Land and buildings22 | €856,616 | €263,569 | €253,692 | €0 | - | - |
| Plant, machinery and equipment23 | €709 | €567 | €425 | €0 | - | - |
| Furniture and vehicles24 | €8,532 | €0 | - | - | - | - |
| Current assets29/58 | €73,665 | €103,778 | €23,942 | €17,512 | €60,863 | ▲ 248% |
| Amounts receivable within one year40/41 | €57,912 | €25,787 | €9,188 | €11,882 | €55,182 | ▲ 364% |
| Trade receivables40 | €52,893 | €0 | - | - | €32,000 | - |
| Other amounts receivable41 | €5,019 | €25,787 | €9,188 | €11,882 | €23,182 | ▲ 95.1% |
| Current investments50/53 | - | - | €56 | €22 | €19 | ▼ 11.1% |
| Cash at bank and in hand54/58 | €15,151 | €77,683 | €14,602 | €5,608 | €5,661 | ▲ 0.9% |
| Deferred charges and accrued income490/1 | €603 | €308 | €96 | €0 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €939,522 | €367,914 | €278,059 | €17,512 | €60,863 | ▲ 248% |
| Equity10/15 | €36,003 | €61,612 | €53,377 | -€13,638 | €57,726 | ▲ 523% |
| Contributions10/11 | €60,000 | €60,000 | €60,000 | €60,000 | €60,000 | = |
| Reserves13 | €6,000 | €6,000 | €6,000 | €6,000 | €6,000 | = |
| Non-distributable reserves130/1 | €6,000 | €6,000 | €6,000 | €6,000 | €6,000 | = |
| Reserves not available under the articles1311 | €6,000 | €6,000 | €6,000 | €6,000 | €6,000 | = |
| Profit (loss) carried forward14 | -€29,997 | -€4,388 | -€12,623 | -€9,638 | -€8,274 | ▲ 14.2% |
| Advance to shareholders on the distribution of net assets19 | - | - | - | €70,000 | €0 | ▼ 100% |
| Amounts payable17/49 | €903,519 | €306,302 | €224,682 | €31,150 | €3,136 | ▼ 89.9% |
| Amounts payable after more than one year17 | €370,351 | €176,339 | €150,481 | €0 | - | - |
| Financial debts170/4 | €370,351 | €176,339 | €150,481 | €0 | - | - |
| Amounts payable within one year42/48 | €533,168 | €129,963 | €74,200 | €30,709 | €3,136 | ▼ 89.8% |
| Current portion of amounts payable after more than one year42 | €52,255 | €25,421 | €25,857 | €0 | - | - |
| Financial debts43 | €50,000 | €0 | - | €25 | €2,716 | ▲ 10,860% |
| Credit institutions430/8 | €50,000 | €0 | - | €25 | €2,716 | ▲ 10,860% |
| Trade debts44 | €9,356 | €5,878 | €13,369 | €2,155 | €106 | ▼ 95.1% |
| Suppliers440/4 | €9,356 | €5,878 | €13,369 | €2,155 | €106 | ▼ 95.1% |
| Advances received on contracts in progress46 | €64,000 | €0 | - | - | - | - |
| Taxes, remuneration and social security45 | €33,581 | €45,664 | €29,240 | €23,986 | €314 | ▼ 98.7% |
| Taxes450/3 | €33,581 | €45,664 | €29,240 | €23,986 | €314 | ▼ 98.7% |
| Other amounts payable47/48 | €323,975 | €53,000 | €5,733 | €4,543 | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | - | - | - | €441 | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€20,502 | €36,609 | -€8,235 | €2,985 | €1,364 | ▼ 54.3% |
| + Depreciation and write-downs630 | €46,675 | €5,663 | €10,019 | €0 | - | - |
| Operating cash flow (approximation) | €26,173 | €42,272 | €1,784 | €2,985 | €1,364 | ▼ 54.3% |
| Investment in fixed assets (approximation) | - | €596,058 | €0 | €254,118 | - | - |
| Change in cash | - | €62,533 | -€63,081 | -€8,993 | €53 | ▲ 101% |
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 · micro schema · 31 days late
2025
31-12
Financial
Liquidity times 34current ratio 19.40
Current ratio from 0.57 to 19.40; short-term debt falls from €30,709 to €3,136.
25-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 25 days late
2024
31-12
Financial
Back to profitnet €2,985
Net result €2,985 after one loss-making year.
31-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 92 days late
2023
11-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 72 days late
2022
31-12
Financial
Back to profitnet €36,609
Net result €36,609 after one loss-making year.
31-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 92 days late
2021
31-12
Financial
Weakest financial yearnet -€20,502
Net result drops to -€20,502, the lowest in the series; recovery starts the following year.
28-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 89 days late
2020
31-12
Financial
Back to profitnet €50,887
Net result €50,887 after one loss-making year.
30-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 61 days late
Show earlier events
2019
30-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 61 days late
2018
03-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 3 days late
2017
27-09
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 58 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 10 acts read
About the unread acts
We know of 10 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
10 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, Antwerpen · 1 establishment unit since 2010
Ground area
101 m²
Building footprint
56 m²
Volume, LiDAR
715 m³
Parcel 11002A2226/00A000, Flanders · tallest building 15.5 m, ±4 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Zwartzustersstraat 48, 2000 Antwerpen
since 20102.185.492.449
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11002A2226/00A000 | Flanders | 101 m² | 1 · 56 m² | 15.5 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.
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Of 82,632 companies in sector 70200 we hold annual accounts for 52,587. 38,806 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 (pre-2019)
Founded22-01-2010
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
Scores and ratios are computed by Checked and are not a credit decision.