Checked.be
Active
BE 0670.866.747Private limited company (pre-2019)
MA DECOR
Paleizenstraat 114 ·1030 Schaarbeek, Belgium· 9 yrs active
Sector: Manufacture of outerwear
(14210)
Conclusion
MA DECOR has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-6k) and a net result of €1k. Equity is shrinking by ~112.7% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 1.2% (low).
Based on the State Gazette, CBE and 4 annual accounts.
Key figures
| Equity | €-6k |
| Net result | €1k |
| Active | 9 yrs |
| Locations | 1 |
Financial profile
36
/ 100
Fragile profile, watch profitability in particular.
All 5 axes are computed from data Checked has read.
Health
8
Profitability
0
Solvency
41
Growth
32
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
More than 3 years active
Founded in 2017, past the statistically most fragile first 3 years.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
8
/ 100
Critical
Computed from 4 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
No credit
negative equity or figures too weak
Score history
55
2022
27
2023
22
2024
8
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 0.83 (< 1.0)
-10
Quick ratio
Quick ratio 0.58 (< 0.6)
-5
Equity
Negative equity
-25
Profitability
Negatieve ROE -16%
-10
Profit trend
Net profit up YoY
+5
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 07-08-2026 with the NBB · fiscal year 2025 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
declining
Equity: declining trend of ~112.7%/year over 4 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
€46k
-
22-25
€1k
-
22-25
€53k
-7.2%
22-25
€-6k
+13.7%
22-25
€-10k
+9.2%
22-25
€59k
-7.9%
22-25
€59k
-7.9%
22-25
0.83
+0.3%
22-25
0.58
-19.8%
22-25
-12.2%
+7.0%
22-25
-9.21
-6.7%
22-25
-15.9%
-
22-25
1.9%
-
22-25
18.0%
-
22-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | micro schema |
| Revenue | - | - | - | €46k |
| EBITDA | - | - | - | - |
| Net profit | €1k | €-13k | €-9k | €8k |
| Cash flow | - | - | - | - |
| Staff costs | - | - | - | - |
| Income taxes | - | - | - | - |
| Dividends | - | - | - | - |
| Total assets | €53k | €57k | €36k | €70k |
| Equity | €-6k | €-7k | €5k | €14k |
| Debt | €59k | €64k | €31k | €56k |
| of which ≤ 1y | €59k | €64k | €31k | €56k |
| of which > 1y | - | - | - | - |
| Working capital | €-10k | €-11k | €2k | €11k |
| Employees (FTE) | - | - | - | - |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Current ratio | 0.83 | 0.83 | 1.06 | 1.19 |
| Quick ratio | 0.58 | 0.72 | 0.19 | 0.89 |
| Working capital ratio | -19.0% | -19.4% | 4.7% | 15.0% |
| Solvency | -12.2% | -13.1% | 14.6% | 20.1% |
| Debt / equity | -9.21 | -8.63 | 5.86 | 3.98 |
| Long-term debt ratio | - | - | - | - |
| Interest coverage | - | - | - | - |
| Gross margin | - | - | - | 18.6% |
| Net margin | - | - | - | 18.0% |
| ROA | 1.9% | -22.4% | -24.1% | 11.8% |
| ROE | -15.9% | 171.4% | -165.5% | 58.8% |
| EBITDA margin | - | - | - | - |
| Days sales outstanding | - | - | - | 335d |
| Days payable outstanding | - | - | - | 405d |
| Inventory turnover | - | - | - | 2.21 |
| Days inventory (DSI) | - | - | - | 165d |
Balance-sheet composition 2025
Full annual accounts (21 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet, Assets | |||||
| TOTAL ASSETS | 20/58 | €53k | €57k | €36k | €70k |
| Fixed assets | 21/28 | €4k | €4k | €4k | €4k |
| Financial fixed assets | 28 | €4k | €4k | €4k | €4k |
| Current assets | 29/58 | €49k | €53k | €33k | €67k |
| Stocks & contracts in progress | 3 | €15k | €7k | €27k | €17k |
| Amounts receivable within one year | 40/41 | €33k | €45k | €1k | €45k |
| Cash & bank | 54/58 | €1k | €1k | €5k | €3k |
| Balance sheet, Equity & liabilities | |||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €53k | €57k | €36k | €70k |
| Equity | 10/15 | €-6k | €-7k | €5k | €14k |
| Contributions / capital | 10/11 | €12k | €12k | €12k | €12k |
| Accumulated profits (losses) | 14 | €-19k | €-20k | €-7k | €2k |
| Amounts payable | 17/49 | €59k | €64k | €31k | €56k |
| Amounts payable within one year | 42/48 | €59k | €64k | €31k | €56k |
| Trade debts payable within one year | 44 | €38k | €54k | €17k | €42k |
| Income statement | |||||
| Turnover | 70 | - | - | - | €46k |
| Gross operating margin | 9900 | €2k | €-11k | €-9k | €9k |
| Operating result | 9901 | €2k | €-12k | €-9k | €8k |
| Financial charges | 65 | €658 | €473 | €244 | €153 |
| Result before taxes | 9903 | €1k | €-13k | €-9k | €8k |
| Net result for the period | 9904 | €1k | €-13k | €-9k | €8k |
| Result to be appropriated | 9905 | €1k | €-13k | €-9k | €8k |
Legal Structure
| NACE primary | Manufacture of outerwear(14210) |
| Legal form | Private limited company (pre-2019)(015) |
| Incorporation | 08-02-2017 |
| Status | Active |
| Postal code | 1030 |
Establishment units
MA DECOR
since 20172.265.544.668
Real-estate footprint
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21909E0216/00P002 | Brussels | 133 m² | 1 · 121 m² | 31.5 m · 6 fl. |
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.
Updates
Next filing, fiscal year 2026, expected by
2026
07-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 7 days late
2025
31-12
Financial
Back to profitnet €1k
Net result €1k after 2 loss-making years.
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 61 days late
2024
31-12
Financial
Weakest financial yearnet €-13k
Net result drops to €-13k, the lowest in the series; recovery starts the following year.
08-11
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 100 days late
2023
03-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 64 days late
2021
30-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 122 days late
2020
31-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 92 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
Manufacture of wearing apparel14130Manufacture of outerwear14210Repair and maintenance of other personal and household goods95290
Names & trade names
| Legal nameFR | MA DECOR |
Similar companies
ELEGANCE SUR MESURE
BE 0771.380.424 · Sint-Gillis (bij-Brussel)
H&L Clothing
BE 0797.322.182 · Antwerpen
Les Tournaisiennes
BE 0707.529.678 · Tournai
ALFA SERVICES
BE 0450.012.791 · Braine-l'Alleud
LA COUTURIERE
BE 0717.600.852 · Schaarbeek