THEMAVIC
ActiveSummary
THEMAVIC has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €34k and a net result of €14. Equity is growing by ~3.7% per year across the filed fiscal years. Its solvency ranks better than 22% of 3489 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability61▼-8
Solvency38▲+1
Growth52=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1.5k at 30 days acceptable
Liquidity short (current ratio 0.02 against 0.01 in 2024; short-term debt: 62% and cash: 0.6% of total assets), and 87.3% of the assets are financed with debt.
Credit check 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 · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 74
Relative position
BE, all sectors
reference
Other professional, scientific and technical activities (NACE 74)
about 48% 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
12.7%
Return on assets
0%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 22% of 3489 sector peers (2025).
NBB · sector comparisonPosition among 3489 sector peers
Solvency
better than 22%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-08-2026, 27 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 · 4 filingsDeviation from the deadline
2025
27 d late
2024
57 d late
2023
65 d late
2022
107 d early
← before the deadline
after the deadline →
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€34k=
2024 · €34k
2022: €31klowest in 4 years
2023: €33k▲ +4.8% vs 2022
2024: €34k▲ +4.5% vs 2023
2025: €34k● +0.0% vs 2024highest in 4 years
2022 → 2025
Total assets
€269k▼ 5.4%
2024 · €284k
2022: €75klowest in 4 years
2023: €302k▲ +304% vs 2022highest in 4 years
2024: €284k▼ -5.9% vs 2023
2025: €269k▼ -5.4% vs 2024
2022 → 2025
Net result
€14▼ 99.0%
2024 · €1k
2022: €12khighest in 4 years
2023: €1k▼ -87.6% vs 2022
2024: €1k▼ -1.4% vs 2023
2025: €14▼ -99.0% vs 2024lowest in 4 years
2022 → 2025
Working capital
€-164k▲ 3.0%
2024 · €-169k
2022: €10khighest in 4 years
2023: €-162k▼ -1792% vs 2022
2024: €-169k▼ -4.9% vs 2023lowest in 4 years
2025: €-164k▲ +3.0% vs 2024
2022 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2022202320242025Trend
Equity€31k-€33k▲ 4.8%€34k▲ 4.5%€34k=
2022: €31klowest in 4 years
2023: €33k▲ +4.8% vs 2022
2024: €34k▲ +4.5% vs 2023
2025: €34k● +0.0% vs 2024highest in 4 years
Operating result€16k-€5k▼ 70.8%€5k▲ 15.3%€4k▼ 27.3%
2022: €16khighest in 4 years
2023: €5k▼ -70.8% vs 2022
2024: €5k▲ +15.3% vs 2023
2025: €4k▼ -27.3% vs 2024lowest in 4 years
Net result€12k-€1k▼ 87.6%€1k▼ 1.4%€14▼ 99.0%
2022: €12khighest in 4 years
2023: €1k▼ -87.6% vs 2022
2024: €1k▼ -1.4% vs 2023
2025: €14▼ -99.0% vs 2024lowest in 4 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 27% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €269k
Fixed assets
€266k ▼ 5.6%
Current assets
€3k ▲ 22.2%
Equity and liabilities €269k
Equity
€34k =
Debt
€235k ▼ 6.1%
Debt's share of the balance-sheet total falls from 88.0% to 87.3%. Debt is lower.
Key figures and ratios
EBITDA
€20k▼
2024 · €21k
Cash flow
€16k▼
2024 · €17k
Current ratio
0.02▲
2024 · 0.01
Debt to equity
6.88▼
2024 · 7.33
ROE
0.0%▼
2024 · 4.3%
ROA
0.0%▼
2024 · 0.5%
Interest coverage
5.13▼
2024 · 6.10
Debt ≤ 1 year
€167k▼
2024 · €171k
Debt > 1 year
€68k▼
2024 · €79k
Income taxes
€93▼
2024 · €486
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 44 lines
Balance sheet
Code20242025
Assets
Total assets20/58€284k€269k▼
Fixed assets21/28€282k€266k▼
Tangible fixed assets22/27€282k€266k▼
Land and buildings22€280k€265k▼
Other tangible fixed assets26€2k€888▼
Current assets29/58€2k€3k▲
Amounts receivable within one year40/41-€1k
Trade receivables40-€1k
Cash at bank and in hand54/58€2k€2k▼
Equity and liabilities
Total equity and liabilities10/49€284k€269k▼
Equity10/15€34k€34k=
Contributions10/11€1k€1k=
Reserves13€31k€31k=
Distributable reserves133€31k€31k=
Profit (loss) carried forward14€2k€2k▲
Amounts payable17/49€250k€235k▼
Amounts payable after more than one year17€79k€68k▼
Financial debts170/4€76k€66k▼
Other amounts payable178/9€2k€2k=
Amounts payable within one year42/48€171k€167k▼
Current portion of amounts payable after more than one year42€10k€11k▲
Trade debts44€737€6▼
Suppliers440/4€737€6▼
Taxes, remuneration and social security45€513€816▲
Taxes450/3€513€816▲
Other amounts payable47/48€160k€155k▼
Accrued charges and deferred income492/3-€111
Income statement
Code20242025
Non-recurring operating income76A-€932
Goods, raw materials, services and sundry goods60/61€7k€8k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€16k€16k▲
Other operating charges640/8€2k€4k▲
Non-recurring operating charges66A€264€210▼
Gross operating margin9900€23k€24k▲
Operating profit (loss)9901€5k€4k▼
Financial income75/76B€0€6▲
Recurring financial income75€0€6▲
Financial charges65/66B€3k€4k▲
Recurring financial charges65€3k€4k▲
Profit (loss) for the period before taxes9903€2k€107▼
Income taxes67/77€486€93▼
Profit (loss) for the period9904€1k€14▼
Profit (loss) for the period to be appropriated9905€1k€14▼
Appropriation of the result
Profit (loss) to be appropriated9906€2k€2k▲
Profit (loss) brought forward from the previous period14P€292€2k▲
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €932 | - |
| Goods, raw materials, services and sundry goods60/61 | €9k | - | €7k | €8k | ▲ 0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4k | €9k | €16k | €16k | ▲ 0.4% |
| Other operating charges640/8 | €2k | €6k | €2k | €4k | ▲ 139% |
| Non-recurring operating charges66A | - | - | €264 | €210 | ▼ 20.5% |
| Gross operating margin9900 | €22k | €19k | €23k | €24k | ▲ 4.0% |
| Operating profit (loss)9901 | €16k | €5k | €5k | €4k | ▼ 27.3% |
| Financial income75/76B | - | €0 | €0 | €6 | ▲ 59,900% |
| Recurring financial income75 | - | €0 | €0 | €6 | ▲ 59,900% |
| Financial charges65/66B | €1k | €3k | €3k | €4k | ▲ 10.9% |
| Recurring financial charges65 | €1k | €3k | €3k | €4k | ▲ 10.9% |
| Profit (loss) for the period before taxes9903 | €15k | €2k | €2k | €107 | ▼ 94.5% |
| Income taxes67/77 | €3k | €439 | €486 | €93 | ▼ 80.8% |
| Profit (loss) for the period9904 | €12k | €1k | €1k | €14 | ▼ 99.0% |
| Profit (loss) for the period to be appropriated9905 | €12k | €1k | €1k | €14 | ▼ 99.0% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €75k | €302k | €284k | €269k | ▼ 5.4% |
| Fixed assets21/28 | €53k | €295k | €282k | €266k | ▼ 5.6% |
| Tangible fixed assets22/27 | €53k | €295k | €282k | €266k | ▼ 5.6% |
| Land and buildings22 | €53k | €295k | €280k | €265k | ▼ 5.3% |
| Other tangible fixed assets26 | - | - | €2k | €888 | ▼ 48.8% |
| Current assets29/58 | €21k | €7k | €2k | €3k | ▲ 22.2% |
| Amounts receivable within one year40/41 | €860 | - | - | €1k | - |
| Trade receivables40 | €860 | - | - | €1k | - |
| Cash at bank and in hand54/58 | €21k | €6k | €2k | €2k | ▼ 26.0% |
| Deferred charges and accrued income490/1 | - | €832 | - | - | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €75k | €302k | €284k | €269k | ▼ 5.4% |
| Equity10/15 | €31k | €33k | €34k | €34k | = |
| Contributions10/11 | €1k | €1k | €1k | €1k | = |
| Capital10 | €1k | - | - | - | - |
| Issued capital100 | €1k | - | - | - | - |
| Reserves13 | €124 | €31k | €31k | €31k | = |
| Non-distributable reserves130/1 | €124 | - | - | - | - |
| Legal reserve130 | €124 | - | - | - | - |
| Distributable reserves133 | - | €31k | €31k | €31k | = |
| Profit (loss) carried forward14 | €30k | €292 | €2k | €2k | ▲ 0.8% |
| Amounts payable17/49 | €44k | €269k | €250k | €235k | ▼ 6.1% |
| Amounts payable after more than one year17 | €32k | €101k | €79k | €68k | ▼ 13.7% |
| Financial debts170/4 | €30k | €97k | €76k | €66k | ▼ 14.1% |
| Other amounts payable178/9 | €2k | €4k | €2k | €2k | = |
| Amounts payable within one year42/48 | €12k | €168k | €171k | €167k | ▼ 2.7% |
| Current portion of amounts payable after more than one year42 | €4k | €483 | €10k | €11k | ▲ 3.7% |
| Trade debts44 | - | - | €737 | €6 | ▼ 99.2% |
| Suppliers440/4 | - | - | €737 | €6 | ▼ 99.2% |
| Taxes, remuneration and social security45 | €3k | €3k | €513 | €816 | ▲ 59.2% |
| Taxes450/3 | €3k | €3k | €513 | €816 | ▲ 59.2% |
| Other amounts payable47/48 | €5k | €164k | €160k | €155k | ▼ 2.9% |
| Accrued charges and deferred income492/3 | - | - | - | €111 | - |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €12k | €1k | €1k | €14 | ▼ 99.0% |
| + Depreciation and write-downs630 | €4k | €9k | €16k | €16k | ▲ 0.4% |
| Operating cash flow (approximation) | €16k | €10k | €17k | €16k | ▼ 8.2% |
| Investment in fixed assets (approximation) | - | €-251k | €-3k | €0 | ▲ 100% |
| Change in cash | - | €-15k | €-4k | €-547 | ▲ 85.7% |
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
27-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 27 days late
2025
31-12
Financial
Weakest financial yearnet €14 ▼99%
Net result drops to €14, the lowest in the series.
26-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 57 days late
2024
04-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 65 days late
2023
15-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Schaarbeek · 1 establishment unit since 1992
Ground area
1,872 m²
Building footprint
251 m²
Volume, LiDAR
2,604 m³
2 parcels, Brussels, Wallonia · tallest building 16.5 m, ±5 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
THEMAVIC
since 19922.055.741.883
2 parcels
Wallonia
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25772H0069/00P007 | Wallonia | 1,707 m² | 1 · 124 m² | 9.7 m · 2 fl. |
| 21904B0399/00T010 | Brussels | 165 m² | 1 · 127 m² | 16.5 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.
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Of 14,144 companies in sector 74201 we hold annual accounts for 2,612. 1,863 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
Founded15-11-1991
Fiscal year end31-12
Activities, NACEBEL 2025
74201Photography, excluding press photography
18130Pre-press and pre-media services
58190Other publishing activities, excluding software publishing
46180Agents specialised in the wholesale of other particular products
58130Publishing activities
73110Advertising agencies
Scores and ratios are computed by Checked and are not a credit decision.