MAPIVAN
ActiveSummary
MAPIVAN has been active since 2000 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €882k and a net result of €56k. Equity is growing by ~14% per year across the filed fiscal years. Its solvency ranks better than 55% of 7780 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability72▲+2
Solvency82▼-11
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €60k at 30 days acceptable
Liquidity short (current ratio 0.57 against 0.64 in 2024; short-term debt: 39.8% and cash: 1.2% of total assets), and 42.8% of the assets are financed with debt.
Credit check for your own amount and term
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 82
Relative position
BE, all sectors
reference
Office administrative, office support and other business support activities (NACE 82)
about 37% 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
57.2%
Return on assets
3.6%
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 28-07-2026, 3 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
3 d early
2024
13 d early
2023
on the day
2022
4 d early
2021
34 d early
2020
30 d early
2019
35 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
€882k▼ 14.7%
2024 · €1.03M
2018: €458klowest in 8 years
2019: €474k▲ +3.5% vs 2018
2020: €503k▲ +6.3% vs 2019
2021: €667k▲ +32.6% vs 2020
2022: €752k▲ +12.7% vs 2021
2023: €977k▲ +29.9% vs 2022
2024: €1.03M▲ +5.9% vs 2023highest in 8 years
2025: €882k▼ -14.7% vs 2024
2018 → 2025
Total assets
€1.54M▲ 0.6%
2024 · €1.53M
2018: €909k
2019: €743k▼ -18.2% vs 2018lowest in 8 years
2020: €1.10M▲ +48.3% vs 2019
2021: €1.06M▼ -4.2% vs 2020
2022: €1.40M▲ +33.0% vs 2021
2023: €1.49M▲ +6.4% vs 2022
2024: €1.53M▲ +2.5% vs 2023
2025: €1.54M▲ +0.6% vs 2024highest in 8 years
2018 → 2025
Net result
€56k▼ 31.7%
2024 · €82k
2018: €-1klowest in 8 years
2019: €12k▲ +1106% vs 2018
2020: €30k▲ +149% vs 2019
2021: €164k▲ +451% vs 2020
2022: €85k▼ -48.4% vs 2021
2023: €225k▲ +166% vs 2022highest in 8 years
2024: €82k▼ -63.8% vs 2023
2025: €56k▼ -31.7% vs 2024
2018 → 2025
Working capital
€-265k▼ 63.6%
2024 · €-162k
2018: €-173k
2019: €-148k▲ +14.4% vs 2018highest in 8 years
2020: €-507k▼ -242% vs 2019
2021: €-319k▲ +37.1% vs 2020
2022: €-574k▼ -80.1% vs 2021lowest in 8 years
2023: €-279k▲ +51.4% vs 2022
2024: €-162k▲ +42.0% vs 2023
2025: €-265k▼ -63.6% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€667k-€752k▲ 12.7%€977k▲ 29.9%€1.03M▲ 5.9%€882k▼ 14.7%
2021: €667klowest in 5 years
2022: €752k▲ +12.7% vs 2021
2023: €977k▲ +29.9% vs 2022
2024: €1.03M▲ +5.9% vs 2023highest in 5 years
2025: €882k▼ -14.7% vs 2024
Operating result€2k-€142k▲ 6,545%€164k▲ 15.9%€124k▼ 24.5%€102k▼ 17.6%
2021: €2klowest in 5 years
2022: €142k▲ +6545% vs 2021
2023: €164k▲ +15.9% vs 2022highest in 5 years
2024: €124k▼ -24.5% vs 2023
2025: €102k▼ -17.6% vs 2024
Net result€164k-€85k▼ 48.4%€225k▲ 166%€82k▼ 63.8%€56k▼ 31.7%
2021: €164k
2022: €85k▼ -48.4% vs 2021
2023: €225k▲ +166% vs 2022highest in 5 years
2024: €82k▼ -63.8% vs 2023
2025: €56k▼ -31.7% vs 2024lowest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 18% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.54M
Fixed assets
€1.19M ▼ 4.4%
Current assets
€349k ▲ 22.7%
Equity and liabilities €1.54M
Equity
€882k ▼ 14.7%
Provisions
€17k ▼ 11.1%
Debt
€643k ▲ 34.4%
Debt's share of the balance-sheet total rises from 31.2% to 41.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€162k▼
2024 · €182k
Cash flow
€116k▼
2024 · €140k
Current ratio
0.57▼
2024 · 0.64
Debt to equity
0.73▲
2024 · 0.46
ROE
6.3%▼
2024 · 7.9%
ROA
3.6%▼
2024 · 5.3%
Interest coverage
5.82▲
2024 · 5.38
Debt ≤ 1 year
€613k▲
2024 · €446k
Income taxes
€26k▼
2024 · €32k
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 · 59 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.53M€1.54M▲
Fixed assets21/28€1.25M€1.19M▼
Tangible fixed assets22/27€1.24M€1.19M▼
Land and buildings22€1.21M€1.17M▼
Plant, machinery and equipment23€996€655▼
Furniture and vehicles24€2k€24k▲
Leasing and similar rights25€28k€0▼
Financial fixed assets28€3k€400▼
Current assets29/58€284k€349k▲
Amounts receivable within one year40/41€5k€145k▲
Other amounts receivable41€5k€145k▲
Current investments50/53€256k€173k▼
Cash at bank and in hand54/58€18k€19k▲
Deferred charges and accrued income490/1€5k€13k▲
Equity and liabilities
Total equity and liabilities10/49€1.53M€1.54M▲
Equity10/15€1.03M€882k▼
Contributions10/11€37k€37k=
Reserves13€997k€845k▼
Tax-exempt reserves132€58k€51k▼
Distributable reserves133€939k€793k▼
Profit (loss) carried forward14€0€0=
Provisions and deferred taxes16€19k€17k▼
Deferred taxes168€19k€17k▼
Amounts payable17/49€478k€643k▲
Amounts payable after more than one year17€0-
Financial debts170/4€0-
Amounts payable within one year42/48€446k€613k▲
Current portion of amounts payable after more than one year42€13k€0▼
Financial debts43€0-
Credit institutions430/8€0-
Trade debts44€3k€2k▼
Suppliers440/4€3k€2k▼
Taxes, remuneration and social security45€28k€7k▼
Taxes450/3€28k€7k▼
Other amounts payable47/48€403k€604k▲
Accrued charges and deferred income492/3€32k€29k▼
Income statement
Code20242025
Non-recurring operating income76A€2k€2k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€58k€60k▲
Other operating charges640/8€13k€12k▼
Gross operating margin9900€195k€174k▼
Operating profit (loss)9901€124k€102k▼
Financial income75/76B€21k€6k▼
Recurring financial income75€21k€6k▼
Financial charges65/66B€34k€29k▼
Recurring financial charges65€34k€28k▼
Non-recurring financial charges66B-€648
Profit (loss) for the period before taxes9903€111k€80k▼
Transfer from deferred taxes780€2k€2k=
Income taxes67/77€32k€26k▼
Profit (loss) for the period9904€82k€56k▼
Transfer from tax-exempt reserves789€6k€6k=
Profit (loss) for the period to be appropriated9905€88k€62k▼
Appropriation of the result
Profit (loss) to be appropriated9906€88k€62k▼
Transfer from equity791/2€21k€207k▲
Transfer to equity691/2€84k€60k▼
To other reserves6921€84k€60k▼
Profit to be distributed694/7€24k€208k▲
Return on contributions (dividend)694€22k€208k▲
Directors or managers695€2k€0▼
The notes to these accounts (13 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €2k | €2k | €2k | €2k | €2k | ▼ 13.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €41k | €74k | €96k | €58k | €60k | ▲ 3.6% |
| Other operating charges640/8 | €7k | €9k | €13k | €13k | €12k | ▼ 10.8% |
| Non-recurring operating charges66A | €0 | - | - | - | - | - |
| Gross operating margin9900 | €51k | €224k | €273k | €195k | €174k | ▼ 10.8% |
| Operating profit (loss)9901 | €2k | €142k | €164k | €124k | €102k | ▼ 17.6% |
| Financial income75/76B | €191k | €0 | €143k | €21k | €6k | ▼ 72.0% |
| Recurring financial income75 | €191k | €0 | €143k | €21k | €6k | ▼ 72.0% |
| Financial charges65/66B | €13k | €18k | €27k | €34k | €29k | ▼ 15.7% |
| Recurring financial charges65 | €13k | €18k | €27k | €34k | €28k | ▼ 17.6% |
| Non-recurring financial charges66B | - | - | - | - | €648 | - |
| Profit (loss) for the period before taxes9903 | €181k | €124k | €280k | €111k | €80k | ▼ 28.3% |
| Transfer from deferred taxes780 | €2k | €2k | €2k | €2k | €2k | = |
| Income taxes67/77 | €19k | €41k | €57k | €32k | €26k | ▼ 17.6% |
| Profit (loss) for the period9904 | €164k | €85k | €225k | €82k | €56k | ▼ 31.7% |
| Transfer from tax-exempt reserves789 | €6k | €6k | €6k | €6k | €6k | = |
| Profit (loss) for the period to be appropriated9905 | €170k | €91k | €232k | €88k | €62k | ▼ 29.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.06M | €1.40M | €1.49M | €1.53M | €1.54M | ▲ 0.6% |
| Fixed assets21/28 | €1.05M | €1.39M | €1.29M | €1.25M | €1.19M | ▼ 4.4% |
| Tangible fixed assets22/27 | €1.04M | €1.38M | €1.29M | €1.24M | €1.19M | ▼ 4.2% |
| Land and buildings22 | €1.03M | €1.33M | €1.24M | €1.21M | €1.17M | ▼ 3.8% |
| Plant, machinery and equipment23 | - | €2k | €1k | €996 | €655 | ▼ 34.3% |
| Furniture and vehicles24 | €13k | €7k | €5k | €2k | €24k | ▲ 977% |
| Leasing and similar rights25 | - | €49k | €39k | €28k | €0 | ▼ 100% |
| Financial fixed assets28 | €3k | €3k | €3k | €3k | €400 | ▼ 86.7% |
| Current assets29/58 | €10k | €18k | €204k | €284k | €349k | ▲ 22.7% |
| Amounts receivable within one year40/41 | €1k | €5k | €0 | €5k | €145k | ▲ 2,776% |
| Other amounts receivable41 | €1k | €5k | €0 | €5k | €145k | ▲ 2,776% |
| Current investments50/53 | - | - | €145k | €256k | €173k | ▼ 32.6% |
| Cash at bank and in hand54/58 | €5k | €8k | €54k | €18k | €19k | ▲ 3.6% |
| Deferred charges and accrued income490/1 | €3k | €5k | €5k | €5k | €13k | ▲ 162% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.06M | €1.40M | €1.49M | €1.53M | €1.54M | ▲ 0.6% |
| Equity10/15 | €667k | €752k | €977k | €1.03M | €882k | ▼ 14.7% |
| Contributions10/11 | €37k | €37k | €37k | €37k | €37k | = |
| Reserves13 | €630k | €715k | €940k | €997k | €845k | ▼ 15.3% |
| Non-distributable reserves130/1 | €5k | €5k | €0 | - | - | - |
| Reserves not available under the articles1311 | €5k | €5k | €0 | - | - | - |
| Tax-exempt reserves132 | €77k | €71k | €64k | €58k | €51k | ▼ 11.1% |
| Distributable reserves133 | €548k | €639k | €876k | €939k | €793k | ▼ 15.5% |
| Profit (loss) carried forward14 | - | - | - | €0 | €0 | - |
| Provisions and deferred taxes16 | €26k | €24k | €21k | €19k | €17k | ▼ 11.1% |
| Deferred taxes168 | €26k | €24k | €21k | €19k | €17k | ▼ 11.1% |
| Amounts payable17/49 | €363k | €629k | €495k | €478k | €643k | ▲ 34.4% |
| Amounts payable after more than one year17 | €34k | €36k | €13k | €0 | - | - |
| Financial debts170/4 | €34k | €36k | €13k | €0 | - | - |
| Amounts payable within one year42/48 | €328k | €592k | €483k | €446k | €613k | ▲ 37.5% |
| Current portion of amounts payable after more than one year42 | €13k | €23k | €23k | €13k | €0 | ▼ 100% |
| Financial debts43 | - | €100k | €2k | €0 | - | - |
| Credit institutions430/8 | - | €100k | €2k | €0 | - | - |
| Trade debts44 | €2k | €3k | €4k | €3k | €2k | ▼ 36.0% |
| Suppliers440/4 | €2k | €3k | €4k | €3k | €2k | ▼ 36.0% |
| Taxes, remuneration and social security45 | €17k | €12k | €31k | €28k | €7k | ▼ 73.2% |
| Taxes450/3 | €17k | €12k | €31k | €28k | €7k | ▼ 73.2% |
| Other amounts payable47/48 | €296k | €454k | €423k | €403k | €604k | ▲ 50.0% |
| Accrued charges and deferred income492/3 | €559 | €578 | €0 | €32k | €29k | ▼ 9.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €164k | €85k | €225k | €82k | €56k | ▼ 31.7% |
| + Depreciation and write-downs630 | €41k | €74k | €96k | €58k | €60k | ▲ 3.6% |
| Operating cash flow (approximation) | €205k | €158k | €321k | €140k | €116k | ▼ 17.0% |
| Investment in fixed assets (approximation) | - | €-414k | €-282 | €-15k | €-5k | ▲ 64.6% |
| Change in cash | - | €2k | €46k | €-35k | €658 | ▲ 102% |
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
28-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
18-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Equity above €1MEq €1.03M ▲5.9%
6 profitable years in a row build equity to €1.03M.
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2018net €225k ▲166%
Operating result €164k, net result €225k, both a record.
27-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
27-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
01-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Equity above €500kEq €503k ▲6.3%
2 profitable years in a row build equity to €503k.
26-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Back to profitnet €12k
Net result €12k after one loss-making year.
25-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
27-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 27 days late
2017
17-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 17 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 9 acts read
About the unread acts
We know of 9 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
9 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, Wingene · 1 establishment unit since 2002
Ground area
1,479 m²
Building footprint
207 m²
Volume, LiDAR
913 m³
Parcel 37018F1031/00B002, Flanders · tallest building 7.3 m, ±1 floor. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
Kokerstraat 30, 8750 Wingene
since 20022.096.185.539
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 37018F1031/00B002 | Flanders | 1,479 m² | 1 · 207 m² | 7.3 m · 1 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.
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Of 24,497 companies in sector 82990 we hold annual accounts for 9,406. 4,825 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
Founded15-11-2000
Fiscal year end31-12
Activities, NACEBEL 2025
82990Other business support services
Scores and ratios are computed by Checked and are not a credit decision.