What does MANAGEMENT ASSOCIATES INTERNATIONAL do?

MANAGEMENT ASSOCIATES INTERNATIONAL is a commercial agency in Chaudfontaine. Public Limited, started on 20 December 1990, 1 establishment.

What is the address of MANAGEMENT ASSOCIATES INTERNATIONAL?

The registered office of MANAGEMENT ASSOCIATES INTERNATIONAL is located at Rue des Chèvrefeuilles 16, 4052 Chaudfontaine.

Is MANAGEMENT ASSOCIATES INTERNATIONAL still active?

Yes. According to the CBE (16 September 2026) MANAGEMENT ASSOCIATES INTERNATIONAL is active, legal situation “Normale toestand”, started on 20 December 1990.

Is MANAGEMENT ASSOCIATES INTERNATIONAL registered on Peppol?

Yes, MANAGEMENT ASSOCIATES INTERNATIONAL is registered on the Peppol network with ID 0208:0442665042.

What is the enterprise number of MANAGEMENT ASSOCIATES INTERNATIONAL?

The enterprise number of MANAGEMENT ASSOCIATES INTERNATIONAL is BE0442665042.

When was MANAGEMENT ASSOCIATES INTERNATIONAL founded?

MANAGEMENT ASSOCIATES INTERNATIONAL was founded on 20 December 1990.

Who are the directors of MANAGEMENT ASSOCIATES INTERNATIONAL?

According to the 2025 annual accounts, the directors of MANAGEMENT ASSOCIATES INTERNATIONAL are: ALPHAR HEUSY SA, Karin VAN LINTHOUT.

Is MANAGEMENT ASSOCIATES INTERNATIONAL a reliable company?

Databakkes does not pass judgement; this is what the sources say: Active according to the CBE since 20 December 1990; 5 annual accounts filed, latest fiscal year 2025; 2 directors known from the annual account.

How much profit did MANAGEMENT ASSOCIATES INTERNATIONAL make in 2025?

MANAGEMENT ASSOCIATES INTERNATIONAL recorded a loss after taxes of € 55,692 in financial year 2025.

What is the revenue of MANAGEMENT ASSOCIATES INTERNATIONAL?

As a small company, MANAGEMENT ASSOCIATES INTERNATIONAL is not required to publish revenue in its annual accounts. In financial year 2025, its added value was € -21,361.

How many employees does MANAGEMENT ASSOCIATES INTERNATIONAL have?

According to the 2025 annual accounts, MANAGEMENT ASSOCIATES INTERNATIONAL has 0 full-time equivalents (FTE).

MANAGEMENT ASSOCIATES INTERNATIONAL (Public Limited)

Dossier MANAGEMENT ASSOCIATES INTERNATIONAL, printed on 16 September 2026 from databakkes.be/en/0442665042/management-associates-international. Sources: CBE, National Bank of Belgium, Belgian Official Gazette.

Warning lights

Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.

Two loss years in a row NBB

Negative result in 2024 and 2025.

Financials

Financial year 2025

MANAGEMENT ASSOCIATES INTERNATIONAL from Chaudfontaine, company number BE0442665042, closed financial year 2025 with a result of € -55,692 after tax. For that financial year MANAGEMENT ASSOCIATES INTERNATIONAL recorded a gross margin of € -21,361 and equity of € 194,598. Compared with financial year 2024, the result moved from € -20,453 to € -55,692. The company made a loss. The company holds a healthy buffer. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on March 17, 2026.

What it is worth Healthy

€ 194,598

▼ 22% vs 2024

Assets minus debts, by the books. What is left if everything were sold and paid today.

Loss Caution

€ -55,692

▼ 172 % more loss than in 2024

Profit after tax over the fiscal year.

Cash in the bank

€ 93,093

▼ 37% vs 2024

Cash and bank balances on the last day of the fiscal year.

Where the profit goes Caution

Loss, nothing to pay out

Reserves fell to € 132,598.

People and assets in 2025

Full-time equivalents

Average over the fiscal year, from the social balance sheet.

Vehicles and equipment

€ 955

▼ 47% vs 2024

Book value of vehicles, furniture and equipment.

Debts at end 2025

Bank debt

None

No bank loans on the last day of the fiscal year.

Owed to suppliers

€ 6,253

▲ 66% vs 2024

Supplier invoices still open on the last day of the fiscal year.

Taxes

€ 1,362

▼ 63% vs 2024

Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.

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Key figures per fiscal year Download key figures (CSV)
	2022	2023	2024	2025	Change 2024 → 2025
Gross margin	€ 4,781 Gross margin 2022: € 4,781 First fiscal year in the series	€ 186,998 Gross margin 2023: € 186,998 ▲ € 182,218 vs 2022 (€ 4,781) Favourable step	€ -18,752 Gross margin 2024: € -18,752 ▼ € 205,751 vs 2023 (€ 186,998) Unfavourable step	€ -21,361 Gross margin 2025: € -21,361 ▼ € 2,609 vs 2024 (€ -18,752) Unfavourable step	▼ € 2,609
Profit after taxes	€ -29,648 Profit after taxes 2022: € -29,648 First fiscal year in the series	€ 153,017 Profit after taxes 2023: € 153,017 ▲ € 182,665 vs 2022 (€ -29,648) Favourable step	€ -20,453 Profit after taxes 2024: € -20,453 ▼ € 173,470 vs 2023 (€ 153,017) Unfavourable step	€ -55,692 Profit after taxes 2025: € -55,692 ▼ € 35,240 vs 2024 (€ -20,453) Unfavourable step	▼ € 35,240
Equity	€ 117,726 Equity 2022: € 117,726 First fiscal year in the series	€ 270,743 Equity 2023: € 270,743 ▲ 130% vs 2022 (€ 117,726) Favourable step	€ 250,291 Equity 2024: € 250,291 ▼ 8% vs 2023 (€ 270,743) Unfavourable step	€ 194,598 Equity 2025: € 194,598 ▼ 22% vs 2024 (€ 250,291) Unfavourable step	▼ 22%
Total debts	€ 813,099 Total debts 2022: € 813,099 First fiscal year in the series	€ 226,175 Total debts 2023: € 226,175 ▼ 72% vs 2022 (€ 813,099) Favourable step	€ 27,819 Total debts 2024: € 27,819 ▼ 88% vs 2023 (€ 226,175) Favourable step	€ 13,975 Total debts 2025: € 13,975 ▼ 50% vs 2024 (€ 27,819) Favourable step	▼ 50%
Cash	€ 242,118 Cash 2022: € 242,118 First fiscal year in the series	€ 249,207 Cash 2023: € 249,207 ▲ 3% vs 2022 (€ 242,118) Favourable step	€ 148,516 Cash 2024: € 148,516 ▼ 40% vs 2023 (€ 249,207) Unfavourable step	€ 93,093 Cash 2025: € 93,093 ▼ 37% vs 2024 (€ 148,516) Unfavourable step	▼ 37%
Land & buildings	€ 172,007 Land & buildings 2022: € 172,007 First fiscal year in the series	-	-	-
Retained profit	€ 55,726 Retained profit 2022: € 55,726 First fiscal year in the series	€ 208,743 Retained profit 2023: € 208,743 ▲ 275% vs 2022 (€ 55,726) Favourable step	€ 188,291 Retained profit 2024: € 188,291 ▼ 10% vs 2023 (€ 208,743) Unfavourable step	€ 132,598 Retained profit 2025: € 132,598 ▼ 30% vs 2024 (€ 188,291) Unfavourable step	▼ 30%
Dividend	€ 500,000 Dividend 2022: € 500,000 First fiscal year in the series	€ 0 Dividend 2023: € 0 ▼ 100% vs 2022 (€ 500,000) Unchanged	€ 0 Dividend 2024: € 0 Unchanged (€ 0) Unchanged	€ 0 Dividend 2025: € 0 Unchanged (€ 0) Unchanged
Bank debt	€ 184,503 Bank debt 2022: € 184,503 First fiscal year in the series	€ 0 Bank debt 2023: € 0 ▼ 100% vs 2022 (€ 184,503) Favourable step	€ 0 Bank debt 2024: € 0 Unchanged (€ 0) Unchanged	€ 0 Bank debt 2025: € 0 Unchanged (€ 0) Unchanged
Balance sheet total	€ 930,825 Balance sheet total 2022: € 930,825 First fiscal year in the series	€ 496,918 Balance sheet total 2023: € 496,918 ▼ 47% vs 2022 (€ 930,825) Unchanged	€ 278,110 Balance sheet total 2024: € 278,110 ▼ 44% vs 2023 (€ 496,918) Unchanged	€ 208,574 Balance sheet total 2025: € 208,574 ▼ 25% vs 2024 (€ 278,110) Unchanged	▼ 25%
Employees (FTE)	0.7 Employees (FTE) 2022: 0.7 First fiscal year in the series	-	-	0 Employees (FTE) 2025: 0 First fiscal year in the series

Key figures of MANAGEMENT ASSOCIATES INTERNATIONAL, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.

What happened to MANAGEMENT ASSOCIATES INTERNATIONAL?

What happened at MANAGEMENT ASSOCIATES INTERNATIONAL in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:

2026 ALPHAR HEUSY SA stepped down as director. NBB
2026 Karin VAN LINTHOUT stepped down as director. NBB
Mar 17, 2026 New annual accounts for financial year 2025: loss of € 55,692. Source: NBB ↗
2020 ALPHAR HEUSY SA became a director. NBB
2020 Karin VAN LINTHOUT became a director. NBB
Feb 1, 1991 New establishment in Herve. KBO
Dec 20, 1990 Start of the company according to the CBE. KBO

In short

From € 29,648 loss in 2022 to € 55,692 loss in 2025.

Paid € 41,551 in corporate taxes since 2022.

Best year ever: 2023, with € 153,017 profit.

Paid out € 500,000 in dividends to the owners in total.

Original PDFs at the National Bank ↗

A new publication or filing at MANAGEMENT ASSOCIATES INTERNATIONAL? We notify you, reason included.

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My folder 3 companies

De Lijn 8 June 2026 New annual account 2025

filed on 8 June 2026

What was left

€ 20 k ▼ 91%
Money in the bank

€ 178 k ▼ 98%

Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit

Real filings at the National Bank

Management

ALPHAR HEUSY 99.9%

The stake of ALPHAR HEUSY comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.

MANAGEMENT ASSOCIATES INTERNATIONAL

The shares are held by ALPHAR HEUSY (99.9%).

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Directors

According to the 2025 annual accounts

ALPHAR HEUSY SA

Managing director · represented by Jean-Luc MURI

Also active at: Compagnie Commerciale de Distribution Africaine

since 2020 · until 2026

Karin VAN LINTHOUT

Director

Also active at: ALPHAR HEUSY, Compagnie Commerciale de Distribution Africaine

since 2020 · until 2026

Shareholders

ALPHAR HEUSY

99.9%

Participations

No participations in other companies reported.

Establishments

Establishment units

Physical locations of this company

Registered office

Rue des Chèvrefeuilles 16

4052 Chaudfontaine

2.051.379.457

Outre-Cour 122

4651 Herve

Active since 1 February 1991

Who else lives here?

A building full of entrepreneurs or one very busy letterbox? Another 2 companies are registered at this address.

All companies at this address →

ALPHAR HEUSY same network

€ 802,700 gross margin · 2025

Compagnie Commerciale de Distribution Africaine same network

€ 1.4 million gross margin · 2025

What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.

Details

Company number

0442.665.042

VAT number

BE 0442.665.042

Registered office

Rue des Chèvrefeuilles 16, 4052 Chaudfontaine

Names & denominations

MANAGEMENT ASSOCIATES INTERNATIONAL · M.A.I.

Enterprise type

Rechtspersoon

Legal form

Public limited company

Legal situation

Normale toestand

Start date

20 December 1990

Peppol

Active · Active since 9 Nov 2025

Activities · NACE

Handelsbemiddeling in de groothandel in andere specifieke goederen

Detailhandel in andere huishoudelijke artikelen, neg

Detailhandel in glas-, porselein- en aardewerk en in niet-elektrische huishoudelijke artikelen

Detailhandel in glas-, porselein- en aardewerk en in niet-elektrische huishoudelijke artikelen in gespecialiseerde winkels

Detailhandel in andere huishoudelijke artikelen in gespecialiseerde winkels, n.e.g.

View on CBE Public ↗ Annual accounts (NBB) ↗