Maca development
ActiveSummary
Maca development has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €27k and a net result of €-10k. Equity is shrinking by ~17.2% per year across the filed fiscal years. Its solvency ranks better than 60% of 7058 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-67
Solvency90▼-2
Growth58=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1.5k at 30 days acceptable
Liquidity ample (current ratio 2.63 against 4.03 in 2024; short-term debt: 20.3% and cash: 45% of total assets), and 34.8% 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+raises risk○neutral
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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
65.2%
Return on assets
-23.6%
Age of the figures
12 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 28-11-2025, 153 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
153 d early
2024
175 d early
2023
169 d early
2022
90 d early
2021
166 d early
2020
165 d early
2019
167 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 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today30-09-2026 close30-04-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Accepting this client? The AML file with identity, beneficial owners and sanctions lists.AML client file How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed Roughly what is this company worth?Value indication
Financials · fiscal year 2025, micro schema
Equity
€27k▼ 26.6%
2024 · €36k
Total assets
€41k▼ 24.5%
2024 · €54k
Net result
€-10k
2024 · €6k
Working capital
€13k▼ 39.9%
2024 · €22k
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€-10k€-19k▼ 94.9%€-8k▲ 58.4%€5k€-9k
Net result€-10k€-19k▼ 87.0%€-8k▲ 57.9%€6k€-10k
Equity€57k▼ 15.3%€38k▼ 33.7%€30k▼ 21.4%€36k▲ 21.3%€27k▼ 26.6%
Total assets€75k▼ 20.7%€48k▼ 36.3%€34k▼ 27.5%€54k▲ 57.0%€41k▼ 24.5%
Debt€17k▼ 34.6%€10k▼ 44.6%€5k▼ 51.8%€18k▲ 288%€14k▼ 20.5%
Working capital€42k▼ 17.2%€25k▼ 40.2%€20k▼ 19.8%€22k▲ 10.8%€13k▼ 39.9%
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 €9k after €5k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €41k
Fixed assets
€19k ▼ 21.5%
Current assets
€22k ▼ 27.0%
Equity and liabilities €41k
Equity
€27k ▼ 26.6%
Debt
€14k ▼ 20.5%
Debt's share of the balance-sheet total rises from 33.1% to 34.8%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-3k▼
2024 · €12k
Cash flow
€-4k▼
2024 · €13k
Current ratio
2.63▼
2024 · 4.03
Debt to equity
0.53▲
2024 · 0.49
ROE
-36.2%▼
2024 · 17.6%
ROA
-23.6%▼
2024 · 11.8%
Interest coverage
-3.59▲
2024 · -5.95
Debt ≤ 1 year
€8k▲
2024 · €7k
Debt > 1 year
€6k▼
2024 · €11k
Income taxes
€218▼
2024 · €319
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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7k | €7k | €7k | €7k | €6k | ▼ 16.2% |
| Other operating charges640/8 | - | €625 | €704 | €2k | €916 | ▼ 63.3% |
| Gross operating margin9900 | €153 | €-11k | €-396 | €14k | €-2k | ▼ 113% |
| Operating profit (loss)9901 | €-10k | €-19k | €-8k | €5k | €-9k | ▼ 283% |
| Financial charges65/66B | - | €219 | €159 | €-2k | €778 | ▲ 140% |
| Recurring financial charges65 | €264 | €219 | €159 | €-2k | €778 | ▲ 140% |
| Profit (loss) for the period before taxes9903 | €-10k | €-19k | €-8k | €7k | €-9k | ▼ 241% |
| Income taxes67/77 | €501 | €454 | €204 | €319 | €218 | ▼ 31.7% |
| Profit (loss) for the period9904 | €-10k | €-19k | €-8k | €6k | €-10k | ▼ 251% |
| Profit (loss) for the period to be appropriated9905 | €-10k | €-19k | €-8k | €6k | €-10k | ▼ 251% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €75k | €48k | €34k | €54k | €41k | ▼ 24.5% |
| Fixed assets21/28 | €23k | €16k | €10k | €24k | €19k | ▼ 21.5% |
| Tangible fixed assets22/27 | €23k | €16k | €10k | €24k | €19k | ▼ 21.5% |
| Plant, machinery and equipment23 | - | €5k | €2k | €0 | - | - |
| Furniture and vehicles24 | - | €11k | €7k | €24k | €19k | ▼ 21.5% |
| Financial fixed assets28 | €25 | €25 | €25 | €25 | €25 | = |
| Current assets29/58 | €52k | €31k | €25k | €30k | €22k | ▼ 27.0% |
| Amounts receivable within one year40/41 | €4k | €2k | €621 | €5k | €3k | ▼ 31.4% |
| Trade receivables40 | - | €2k | - | €5k | €3k | ▼ 44.3% |
| Other amounts receivable41 | - | - | €621 | - | €633 | - |
| Cash at bank and in hand54/58 | €47k | €29k | €24k | €25k | €18k | ▼ 26.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €75k | €48k | €34k | €54k | €41k | ▼ 24.5% |
| Equity10/15 | €57k | €38k | €30k | €36k | €27k | ▼ 26.6% |
| Contributions10/11 | €114k | €114k | €114k | €114k | €114k | = |
| Outside capital11 | - | €114k | €114k | €114k | €114k | = |
| Other1109/19 | - | €114k | €114k | €114k | €114k | = |
| Reserves13 | €31k | €31k | €31k | €31k | €31k | = |
| Non-distributable reserves130/1 | - | €11k | €11k | €11k | €11k | = |
| Reserves not available under the articles1311 | - | €11k | €11k | €11k | €11k | = |
| Tax-exempt reserves132 | - | €20k | €20k | €20k | €20k | = |
| Profit (loss) carried forward14 | €-88k | €-107k | €-115k | €-109k | €-119k | ▼ 8.8% |
| Amounts payable17/49 | €17k | €10k | €5k | €18k | €14k | ▼ 20.5% |
| Amounts payable after more than one year17 | €8k | €4k | - | €11k | €6k | ▼ 43.3% |
| Financial debts170/4 | - | €4k | - | €11k | €6k | ▼ 43.3% |
| Amounts payable within one year42/48 | €9k | €6k | €5k | €7k | €8k | ▲ 11.9% |
| Current portion of amounts payable after more than one year42 | - | €5k | €4k | €4k | €5k | ▲ 4.4% |
| Trade debts44 | €3k | €1k | €876 | €272 | €400 | ▲ 47.0% |
| Suppliers440/4 | - | €1k | €876 | €272 | €400 | ▲ 47.0% |
| Advances received on contracts in progress46 | - | - | - | - | €3k | - |
| Taxes, remuneration and social security45 | - | €197 | €197 | €3k | - | - |
| Taxes450/3 | - | €197 | €197 | €1k | - | - |
| Remuneration and social security454/9 | - | - | - | €2k | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-10k | €-19k | €-8k | €6k | €-10k | ▼ 251% |
| + Depreciation and write-downs630 | €7k | €7k | €7k | €7k | €6k | ▼ 16.2% |
| Operating cash flow (approximation) | €-3k | €-13k | €-1k | €13k | €-4k | ▼ 128% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €-22k | €-609 | ▲ 97.2% |
| Change in cash | - | €-18k | €-5k | €669 | €-7k | ▼ 1,073% |
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
2025
28-11
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2024
06-11
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
30-09
Financial
Back to profitnet €6k
Net result €6k after 3 loss-making years.
2023
13-11
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
30-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2021
15-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2020
16-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
30-09
Financial
Back to profitnet €7k
Net result €7k after 2 loss-making years.
2019
15-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
30-09
Financial
Weakest financial yearnet €-25k
Net result drops to €-25k, the lowest in the series; recovery starts the following year.
2018
09-11
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
21-11
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
16-11
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
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.
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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, Beauvechain · 1 establishment unit since 2007
Ground area
2,227 m²
Building footprint
103 m²
Parcel 25073A0061/00A000, Wallonia. Linked by address, not a title deed.
1 establishment unit
Maca Development
since 20072.165.787.096
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25073A0061/00A000 | Wallonia | 2,227 m² | 1 · 103 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.
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Of 2,711 companies in sector 73200 we hold annual accounts for 1,781. 939 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
Founded14-09-2007
Fiscal year end30-09
Abbreviation FR
MD
Activities, NACEBEL 2025
73200Market research and public opinion polling
Contact
E-mail
p.alexis@macaexpress.beBeauvechain
Phone
0477/45.26.43Beauvechain
Scores and ratios are computed by Checked and are not a credit decision.