Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Negative equity NBB
More debt than assets in 4 of the last 4 fiscal years.
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Tight liquidity NBB
Cash and receivables cover 7 % of short-term debt in 2026; threshold 65 %.
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Busy address KBO
15 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2026
MAGAP from Brussel, company number BE0832750047, closed financial year 2026 with a result of € 261,310 after tax. For that financial year MAGAP recorded a gross margin of € 261,790 and equity of € -3,859. Compared with financial year 2025, the result moved from € 126 to € 261,310. Profitable, and profit is growing. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on August 27, 2026.
€ -3,859
▲ € 261,310 vs 2025
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 261,310
▲ € 261,184 vs 2025
Profit after tax over the fiscal year.
€ 0
▼ 100% vs 2025
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2026. Retained profit grew to € -10,059.
Debts at end 2026
€ 263
Loans from banks and other lenders, long and short.
€ 3,890
▲ € 3,711 vs 2025
Supplier invoices still open on the last day of the fiscal year.
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| 2023 | 2024 | 2025 | 2026 | Change 2025 → 2026 | |
|---|---|---|---|---|---|
| Gross margin | € -76 | € -1,820 | € 283 | € 261,790 | ▲ € 261,507 |
| Profit after taxes | € -226 | € -2,354 | € 126 | € 261,310 | ▲ € 261,184 |
| Equity | € -262,941 | € -265,295 | € -265,169 | € -3,859 | ▲ € 261,310 |
| Total debts | € 265,083 | € 266,246 | € 265,862 | € 4,153 | ▼ 98% |
| Cash | € 1,967 | € 463 | € 204 | € 0 | ▼ 100% |
| Retained profit | € -269,141 | € -271,495 | € -271,369 | € -10,059 | ▲ € 261,310 |
| Bank debt | € 0 | € 0 | € 0 | € 263 | |
| Balance sheet total | € 29,097 | € 27,906 | € 27,648 | € 294 | ▼ 99% |
Key figures of MAGAP, fiscal years 2023 to 2026, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2027) expected before 31 August 2027.
What happened to MAGAP?
What happened at MAGAP in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2026: profit of € 261,310 (▲ € 261,184 vs 2025). Source: NBB ↗
- New establishment in Brussel. KBO
- Start of the company according to the CBE. KBO
In short
From € 226 loss in 2023 to € 261,310 profit in 2026.
Best year ever: 2026, with € 261,310 profit.
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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
Management
Directors
According to the 2026 annual accounts
Elie APPELSTEIN
Director
Establishments
Establishment units
Physical locations of this company
Zaterdagplein 1
1000 Brussel
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 15 companies are registered at this address.
All companies at this address →BLUE STORES
€ 54.4 million revenue · 2026
IMMO APPELS
€ 946,093 gross margin · 2025
A & S DISTRIBUTION
€ 562,313 gross margin · 2025
FAMCO
€ -85 gross margin · 2025
L&L RETAIL BELGIUM
€ 72.6 million revenue · 2026
+10 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0832.750.047
- VAT number
- BE 0832.750.047
- Registered office
- Zaterdagplein 1, 1000 Brussel
- Names & denominations
- MAGAP
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 7 January 2011
- Peppol
- Active · Active since 26 Aug 2025