E - MAPROD
ActiveSummary
E - MAPROD has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €5.35M and a net result of €53k. Equity is growing by ~14.3% per year across the filed fiscal years. Its solvency ranks better than 36% of 4556 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability19▼-11
Solvency48▼-3
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €300k at 30 days acceptable
Liquidity ample (current ratio 7.42 against 16.06 in 2024; short-term debt: 7.1% and cash: 0% of total assets), but 76.5% 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 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% 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
23.5%
Return on assets
0.2%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 29-06-2026, 32 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
32 d early
2024
30 d early
2023
26 d late
2022
92 d late
2021
31 d late
2020
17 d late
2019
31 d late
← 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, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€53k▼ 91.6%
2024 · €629k
2018: €246k
2019: €49k▼ -80.0% vs 2018
2020: €176k▲ +258% vs 2019
2021: €-97k▼ -155% vs 2020lowest in 8 years
2022: €130k▲ +233% vs 2021
2023: €2.20M▲ +1599% vs 2022highest in 8 years
2024: €629k▼ -71.5% vs 2023
2025: €53k▼ -91.6% vs 2024
2018 → 2025
Working capital
€10.46M▲ 14.7%
2024 · €9.12M
2018: €-2.65M
2019: €-5.15M▼ -94.7% vs 2018lowest in 8 years
2020: €-4.51M▲ +12.5% vs 2019
2021: €-5.01M▼ -11.2% vs 2020
2022: €-3.39M▲ +32.3% vs 2021
2023: €2.10M▲ +162% vs 2022
2024: €9.12M▲ +334% vs 2023
2025: €10.46M▲ +14.7% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€2.83M-€2.47M▼ 12.8%€4.67M▲ 89.1%€5.30M▲ 13.4%€5.35M▲ 1.0%
2021: €2.83M
2022: €2.47M▼ -12.8% vs 2021lowest in 5 years
2023: €4.67M▲ +89.1% vs 2022
2024: €5.30M▲ +13.4% vs 2023
2025: €5.35M▲ +1.0% vs 2024highest in 5 years
Operating result€-235k-€-190k▲ 19.4%€193k€333k▲ 72.8%€-117k
2021: €-235klowest in 5 years
2022: €-190k▲ +19.4% vs 2021
2023: €193k▲ +202% vs 2022
2024: €333k▲ +72.8% vs 2023highest in 5 years
2025: €-117k▼ -135% vs 2024
Net result€-97k-€130k€2.20M▲ 1,599%€629k▼ 71.5%€53k▼ 91.6%
2021: €-97klowest in 5 years
2022: €130k▲ +233% vs 2021
2023: €2.20M▲ +1599% vs 2022highest in 5 years
2024: €629k▼ -71.5% vs 2023
2025: €53k▼ -91.6% vs 2024
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €117k after €333k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €22.82M
Fixed assets
€10.74M ▲ 3.8%
Current assets
€12.08M ▲ 24.3%
Equity and liabilities €22.82M
Equity
€5.35M ▲ 1.0%
Debt
€17.47M ▲ 18.3%
Debt's share of the balance-sheet total rises from 73.6% to 76.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€-79k▼
2024 · €370k
Cash flow
€91k▼
2024 · €665k
Current ratio
7.42▼
2024 · 16.06
Quick ratio
5.58▼
2024 · 12.17
Debt to equity
3.26▲
2024 · 2.79
ROE
1.0%▼
2024 · 11.9%
ROA
0.2%▼
2024 · 3.1%
Interest coverage
-0.12▼
2024 · 0.83
Debt ≤ 1 year
€1.63M▲
2024 · €606k
Debt > 1 year
€15.83M▲
2024 · €14.16M
Income taxes
€1k▼
2024 · €1k
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 · 54 lines
Balance sheet
Code20242025
Assets
Total assets20/58€20.07M€22.82M▲
Fixed assets21/28€10.35M€10.74M▲
Tangible fixed assets22/27€1.10M€1.09M▼
Land and buildings22€951k€928k▼
Furniture and vehicles24€6k€24k▲
Other tangible fixed assets26€139k€139k=
Financial fixed assets28€9.25M€9.65M▲
Current assets29/58€9.72M€12.08M▲
Amounts receivable after more than one year29€7.00M€8.69M▲
Other amounts receivable291€7.00M€8.69M▲
Stocks and contracts in progress3€2.35M€3.00M▲
Stocks30/36€2.35M€3.00M▲
Amounts receivable within one year40/41€317k€346k▲
Trade receivables40€317k€218k▼
Other amounts receivable41-€127k
Cash at bank and in hand54/58€45k€11k▼
Deferred charges and accrued income490/1€8k€37k▲
Equity and liabilities
Total equity and liabilities10/49€20.07M€22.82M▲
Equity10/15€5.30M€5.35M▲
Contributions10/11€120k€120k=
Capital10€120k€120k=
Issued capital100€120k€120k=
Reserves13€12k€12k=
Non-distributable reserves130/1€12k€12k=
Legal reserve130€12k€12k=
Profit (loss) carried forward14€5.17M€5.22M▲
Amounts payable17/49€14.77M€17.47M▲
Amounts payable after more than one year17€14.16M€15.83M▲
Financial debts170/4€102k€340k▲
Other amounts payable178/9€14.06M€15.49M▲
Amounts payable within one year42/48€606k€1.63M▲
Current portion of amounts payable after more than one year42€33k€1.35M▲
Financial debts43€414k€84k▼
Credit institutions430/8€414k€84k▼
Trade debts44€105k€160k▲
Suppliers440/4€105k€160k▲
Advances received on contracts in progress46€36k€32k▼
Taxes, remuneration and social security45€18k€2k▼
Taxes450/3€18k€2k▼
Accrued charges and deferred income492/3€5k€6k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€37k€38k▲
Other operating charges640/8€26k€27k▲
Gross operating margin9900€396k€-52k▼
Operating profit (loss)9901€333k€-117k▼
Financial income75/76B€742k€803k▲
Recurring financial income75€742k€803k▲
Financial charges65/66B€446k€632k▲
Recurring financial charges65€446k€632k▲
Profit (loss) for the period before taxes9903€630k€54k▼
Income taxes67/77€1k€1k▼
Profit (loss) for the period9904€629k€53k▼
Profit (loss) for the period to be appropriated9905€629k€53k▼
Appropriation of the result
Profit (loss) to be appropriated9906€5.17M€5.22M▲
Profit (loss) brought forward from the previous period14P€4.54M€5.17M▲
The notes to these accounts (14 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €55k | €37k | €38k | €37k | €38k | ▲ 4.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €282k | - | - | - | - |
| Other operating charges640/8 | €16k | €16k | €55k | €26k | €27k | ▲ 5.9% |
| Gross operating margin9900 | €-164k | €146k | €285k | €396k | €-52k | ▼ 113% |
| Operating profit (loss)9901 | €-235k | €-190k | €193k | €333k | €-117k | ▼ 135% |
| Financial income75/76B | €287k | €511k | €2.45M | €742k | €803k | ▲ 8.2% |
| Recurring financial income75 | €287k | €511k | €2.45M | €742k | €803k | ▲ 8.2% |
| Financial charges65/66B | €148k | €191k | €443k | €446k | €632k | ▲ 41.8% |
| Recurring financial charges65 | €148k | €191k | €443k | €446k | €632k | ▲ 41.8% |
| Profit (loss) for the period before taxes9903 | €-97k | €131k | €2.20M | €630k | €54k | ▼ 91.5% |
| Income taxes67/77 | €816 | €864 | €424 | €1k | €1k | ▼ 7.4% |
| Profit (loss) for the period9904 | €-97k | €130k | €2.20M | €629k | €53k | ▼ 91.6% |
| Profit (loss) for the period to be appropriated9905 | €-97k | €130k | €2.20M | €629k | €53k | ▼ 91.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €11.66M | €11.70M | €16.97M | €20.07M | €22.82M | ▲ 13.7% |
| Fixed assets21/28 | €7.88M | €8.67M | €9.65M | €10.35M | €10.74M | ▲ 3.8% |
| Tangible fixed assets22/27 | €2.67M | €1.18M | €1.13M | €1.10M | €1.09M | ▼ 0.5% |
| Land and buildings22 | €1.05M | €1.02M | €983k | €951k | €928k | ▼ 2.4% |
| Furniture and vehicles24 | €11k | €8k | €5k | €6k | €24k | ▲ 279% |
| Other tangible fixed assets26 | €1.62M | €161k | €139k | €139k | €139k | = |
| Financial fixed assets28 | €5.21M | €7.48M | €8.53M | €9.25M | €9.65M | ▲ 4.3% |
| Current assets29/58 | €3.78M | €3.03M | €7.32M | €9.72M | €12.08M | ▲ 24.3% |
| Amounts receivable after more than one year29 | €2.00M | €2.00M | €6.01M | €7.00M | €8.69M | ▲ 24.1% |
| Other amounts receivable291 | €2.00M | €2.00M | €6.01M | €7.00M | €8.69M | ▲ 24.1% |
| Stocks and contracts in progress3 | €396k | €424k | €1.10M | €2.35M | €3.00M | ▲ 27.7% |
| Stocks30/36 | €396k | €424k | €1.10M | €2.35M | €3.00M | ▲ 27.7% |
| Amounts receivable within one year40/41 | €481k | €557k | €191k | €317k | €346k | ▲ 9.0% |
| Trade receivables40 | €183k | €427k | €190k | €317k | €218k | ▼ 31.1% |
| Other amounts receivable41 | €298k | €129k | €1k | - | €127k | - |
| Cash at bank and in hand54/58 | €905k | €50k | €21k | €45k | €11k | ▼ 75.2% |
| Deferred charges and accrued income490/1 | €4k | €712 | €3k | €8k | €37k | ▲ 379% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €11.66M | €11.70M | €16.97M | €20.07M | €22.82M | ▲ 13.7% |
| Equity10/15 | €2.83M | €2.47M | €4.67M | €5.30M | €5.35M | ▲ 1.0% |
| Contributions10/11 | €150k | €120k | €120k | €120k | €120k | = |
| Capital10 | €150k | €120k | €120k | €120k | €120k | = |
| Issued capital100 | €150k | €120k | €120k | €120k | €120k | = |
| Reserves13 | €15k | €12k | €12k | €12k | €12k | = |
| Non-distributable reserves130/1 | €15k | €12k | €12k | €12k | €12k | = |
| Legal reserve130 | €15k | €12k | €12k | €12k | €12k | = |
| Profit (loss) carried forward14 | €2.67M | €2.34M | €4.54M | €5.17M | €5.22M | ▲ 1.0% |
| Amounts payable17/49 | €8.83M | €9.23M | €12.30M | €14.77M | €17.47M | ▲ 18.3% |
| Amounts payable after more than one year17 | - | €2.74M | €7.06M | €14.16M | €15.83M | ▲ 11.8% |
| Financial debts170/4 | - | - | €549k | €102k | €340k | ▲ 233% |
| Other amounts payable178/9 | - | €2.74M | €6.51M | €14.06M | €15.49M | ▲ 10.2% |
| Amounts payable within one year42/48 | €8.79M | €6.42M | €5.22M | €606k | €1.63M | ▲ 169% |
| Current portion of amounts payable after more than one year42 | - | - | €32k | €33k | €1.35M | ▲ 3,976% |
| Financial debts43 | €6.80M | €5.69M | €5.14M | €414k | €84k | ▼ 79.6% |
| Credit institutions430/8 | €6.80M | €5.69M | €5.14M | €414k | €84k | ▼ 79.6% |
| Trade debts44 | €17k | €148k | €46k | €105k | €160k | ▲ 51.7% |
| Suppliers440/4 | €17k | €148k | €46k | €105k | €160k | ▲ 51.7% |
| Advances received on contracts in progress46 | - | - | - | €36k | €32k | ▼ 10.1% |
| Taxes, remuneration and social security45 | €2k | €3k | €424 | €18k | €2k | ▼ 87.8% |
| Taxes450/3 | €2k | €3k | €424 | €18k | €2k | ▼ 87.8% |
| Other amounts payable47/48 | €1.97M | €578k | - | - | - | - |
| Accrued charges and deferred income492/3 | €34k | €69k | €19k | €5k | €6k | ▲ 19.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-97k | €130k | €2.20M | €629k | €53k | ▼ 91.6% |
| + Depreciation and write-downs630 | €55k | €37k | €38k | €37k | €38k | ▲ 4.2% |
| Operating cash flow (approximation) | €-42k | €167k | €2.24M | €665k | €91k | ▼ 86.4% |
| Investment in fixed assets (approximation) | - | €-827k | €-1.02M | €-730k | €-428k | ▲ 41.4% |
| Change in cash | - | €-855k | €-29k | €24k | €-34k | ▼ 242% |
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
17-09
State Gazette act
Reappointment: Stéphane Benaym (director)Power of attorney4 facts ▸
State Gazette act
Reappointment: Stéphane Benaym (director)
Power of attorney4 facts ▸
- General meeting, 26-06-2026
- Director reappointment, Stéphane Benaym (director)
- Power of attorney, SRL Fiscalys
- Director in office, Mathieu Guillard (director)
29-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
01-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Liquidity times 11current ratio 16.06
Current ratio from 1.40 to 16.06; short-term debt falls from €5.22M to €606k.
31-12
Financial
Equity above €5MEq €5.30M ▲13.4%
3 profitable years in a row build equity to €5.30M.
26-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 26 days late
2023
31-12
Financial
Highest result since 2018net €2.20M ▲1,599%
Net result €2.20M, the highest in the series.
31-12
Financial
Liquidity triplescurrent ratio 1.40
Current ratio from 0.47 to 1.40; short-term debt falls from €6.42M to €5.22M.
31-10
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 92 days late
2022
31-12
Financial
Back to profitnet €130k
Net result €130k after one loss-making year.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 31 days late
2021
31-12
Financial
Weakest financial yearnet €-97k
Net result drops to €-97k, the lowest in the series; recovery starts the following year.
Show earlier events
17-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 17 days late
2020
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 31 days late
2019
31-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
10-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 10 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 30 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 14 acts read
About the unread acts
Of the 14 Belgian State Gazette acts we know for this company, 1 has been read. The other 13 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, last change in 2026
Stéphane Benaym
CurrentDirector · since 26-06-2026
26-06-2026
Mandate renewed as Director
Not every act has been read: a resignation may be missing here
13 of this company's 14 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Sint-Gillis (bij-Brussel) · 1 establishment unit since 2003
Ground area
2,754 m²
Parcel 21013B0370/00H010, Brussels. Linked by address, not a title deed.
31
companies at this address
See who is registered here
1 establishment unit
Brugmannlaan 27A, 1060 Sint-Gillis (bij-Brussel)
since 20032.126.247.522
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21013B0370/00H010 | Brussels | 2,754 m² | - | - |
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.
Structure & network
Ownership & control
2 board mandatesBoard mandates of this companythis company sits on their board2
1 location
1 location
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Identification & contact
Identification
Legal formPublic limited company
Founded13-07-2001
Fiscal year end31-12
Activities, NACEBEL 2025
68110Buying and selling of own real estate
46711Wholesale of cars and light vans (up to 3.5 tonnes)
47811Retail sale of cars and light vans (up to 3.5 tonnes)
61900Telecommunications
62100Computer programming
62200Computer consultancy and computer facilities management
Contact
Website
www.emaprod.com
Scores and ratios are computed by Checked and are not a credit decision.