ACTIVE

MAFRANS

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Financial year 2025 · closed on 31/12/2025

Net result

-473,9 k €

-8801.6% YoY

Gross margin

303,5 k €

-9.8% YoY

Equity

181 k €

-72.4% YoY

Workforce

0,0 ETP

-100.0% YoY

What does MAFRANS do?

MAFRANS is a Public limited company incorporated in 1993. Its main activity is: Manufacture of corrugated paper and paperboard and of containers of paper and paperboard. Its registered office is in Kampenhout.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0451.562.813

Incorporation

23/11/1993

Legal form

Public limited company

Registered office

Industriestraat 10 box 2
1910 Kampenhout · FlandreSee on map

Contributed capital

645 000,00 €

Latest accounts

31/12/2025

Average workforce

0,0 ETP

Activities (NACE)

17210Manufacture of corrugated paper and paperboard and of containers of paper and paperboard· main 17210Manufacture of corrugated paper and paperboard and of containers of paper and paperboard 21210Manufacture of pharmaceutical preparations 46620Wholesale of machine tools 46620Wholesale of machine tools 51810Air transport+3

Joint committees (2)

Signals

Positive cashflowPositive EBITDA

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	303,5 k €	-9.8%	336,5 k €	-32.2%	496,7 k €	-58.9%	1,2 M €	+151%	480,2 k €	+11.8%	429,6 k €	-5.0%	452,2 k €	+2.6%	440,6 k €	-9.6%	487,3 k €	-2.5%	499,8 k €	-3.0%	515,1 k €	-0.5%	517,9 k €	-8.8%	567,9 k €	-3.3%	587,1 k €	+13.2%	518,5 k €	-7.5%	560,9 k €	-17.5%	679,6 k €	+4.4%	651 k €	-5.8%	690,9 k €	-4.2%	721,1 k €
EBITDA	61,6 k €	+296%	15,6 k €	-90.8%	168,8 k €	-78.5%	784,8 k €	+561%	118,7 k €	-1.0%	119,9 k €	-9.7%	132,7 k €	+1.2%	131,2 k €	-19.1%	162,1 k €	-12.2%	184,6 k €	-0.1%	184,8 k €	+7.5%	171,9 k €	-18.1%	210 k €	-8.0%	228,2 k €	+13.8%	200,6 k €	-12.8%	230 k €	-31.6%	336 k €	+13.5%	295,9 k €	+9.4%	270,4 k €	+24.2%	217,7 k €
Operating result	-436,3 k €	-1014%	47,7 k €	-52.9%	101,3 k €	-83.0%	595,3 k €	+961%	56,1 k €	+22.4%	45,8 k €	-2.8%	47,2 k €	-6.1%	50,2 k €	-33.8%	75,8 k €	-28.8%	106,4 k €	+33.6%	79,7 k €	+71.5%	46,4 k €	-50.7%	94,2 k €	-18.7%	115,9 k €	+19.8%	96,8 k €	-17.9%	117,9 k €	-42.5%	205,1 k €	+13.0%	181,5 k €	+12.0%	162 k €	+37.7%	117,7 k €
Net result	-473,9 k €	-8802%	5,4 k €	-93.5%	84,3 k €	-79.0%	401,9 k €	+11700%	3,4 k €	+536%	535,8 €	+11.7%	479,6 €	-52.6%	1 k €	-96.1%	26 k €	+855%	2,7 k €	-81.5%	14,7 k €	+161%	-24,3 k €	-238%	17,6 k €	+539%	-4 k €	-167%	6 k €	-1.4%	6,1 k €	-95.6%	139,1 k €	+1620%	8,1 k €	-89.4%	76,5 k €	+1275%	5,6 k €
Balance sheet
Equity	181 k €	-72.4%	654,9 k €	+0.8%	649,5 k €	+14.9%	565,2 k €	-10.1%	628,9 k €	+0.5%	625,5 k €	+0.1%	625 k €	+0.1%	624,5 k €	+121%	282,9 k €	+10.1%	256,9 k €	+1.1%	254,2 k €	+6.2%	239,4 k €	-9.2%	263,7 k €	+7.1%	246,1 k €	-1.6%	250,1 k €	+2.5%	244,2 k €	+2.6%	238,1 k €	+141%	98,9 k €	+8.9%	90,8 k €	+535%	14,3 k €
Total assets	919,3 k €	-35.5%	1,4 M €	-6.5%	1,5 M €	-2.6%	1,6 M €	-29.2%	2,2 M €	+9.1%	2 M €	-6.1%	2,2 M €	+8.5%	2 M €	+18.0%	1,7 M €	+3.6%	1,6 M €	-4.1%	1,7 M €	+1.7%	1,7 M €	+2.9%	1,6 M €	-4.3%	1,7 M €	+10.0%	1,5 M €	-4.3%	1,6 M €	+7.6%	1,5 M €	-18.9%	1,8 M €	-2.7%	1,9 M €	-10.8%	2,1 M €
Cash	15,1 k €	+59.4%	9,5 k €	-36.7%	15 k €	-67.7%	46,4 k €	+129%	20,3 k €	+39.6%	14,5 k €	+49.4%	9,7 k €	+512%	1,6 k €	-68.6%	5,1 k €	+76.9%	2,9 k €	-49.8%	5,7 k €	-61.0%	14,6 k €	+23.9%	11,8 k €	+57.5%	7,5 k €	+16.8%	6,4 k €	+149%	2,6 k €	-81.3%	13,8 k €	-47.2%	26,1 k €	+121%	11,8 k €	+46.3%	8,1 k €
Debts	728,7 k €	-1.9%	743,2 k €	-0.9%	749,7 k €	-14.2%	873,4 k €	-44.8%	1,6 M €	+12.9%	1,4 M €	-8.5%	1,5 M €	+12.2%	1,4 M €	-2.7%	1,4 M €	+2.3%	1,4 M €	-5.0%	1,4 M €	+0.9%	1,4 M €	+6.6%	1,3 M €	-6.6%	1,4 M €	+11.6%	1,3 M €	-5.5%	1,4 M €	+8.5%	1,3 M €	-27.8%	1,7 M €	-3.5%	1,8 M €	-14.5%	2,1 M €
Other
Workforce	0,0 ETP	-100%	5,0 ETP	0.0%	5,0 ETP	-3.8%	5,2 ETP	-14.8%	6,1 ETP	0.0%	6,1 ETP	+3.4%	5,9 ETP	-3.3%	6,1 ETP	-7.6%	6,6 ETP	0.0%	6,6 ETP	-1.5%	6,7 ETP	-1.5%	6,8 ETP	0.0%	6,8 ETP	0.0%	6,8 ETP	0.0%	6,8 ETP	0.0%	6,8 ETP	-12.8%	7,8 ETP	-7.1%	8,4 ETP	-5.6%	8,9 ETP	-11.0%	10,0 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 11 ended

Active mandates

Bart Bruyndonckx

Managing director · since 17 juin 2005

Active

Ended mandates

Kristel Bruyndonckx

Director · since 17 juin 2005

Ended

Bart BRUYNDONCKX

Managing director · until 02 mai 2011

Ended

Bart BRUYNDONCKX

Managing director · until 02 mai 2017

Ended

Bart BRUYNDONCKX

Managing director

Ended

At this address

Other companies at this address

Company	CBE no.
BERDY LOOGICS● Active	0747.960.961
Climalogics● Active	0838.984.771
STABILOGICS● Active	0476.779.150

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	12/08/2026	31/07/2025	03/07/2024	22/06/2023	28/06/2022	02/07/2021
General meeting	11/08/2026	30/07/2025	24/06/2024	23/05/2023	27/06/2022	25/06/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	11/08/2026	12/08/2026	Dutch	PDF
Abridged model	31/12/2024	30/07/2025	31/07/2025	Dutch	PDF
Abridged model	31/12/2023	24/06/2024	03/07/2024	Dutch	PDF
Abridged model	31/12/2022	23/05/2023	22/06/2023	Dutch	PDF
Abridged model	31/12/2021	27/06/2022	28/06/2022	Dutch	PDF
Abridged model	31/12/2020	25/06/2021	02/07/2021	Dutch	PDF
Abridged model	31/12/2019	25/05/2020	08/06/2020	Dutch	PDF
Abridged model	31/12/2018	28/06/2019	07/08/2019	Dutch	PDF
Abridged model	31/12/2017	28/06/2018	23/07/2018	Dutch	PDF
Abridged model	31/12/2016	02/05/2017	17/05/2017	Dutch	PDF
Abridged model	31/12/2015	27/05/2016	30/05/2016	Dutch	PDF
Abridged model	31/12/2014	24/06/2015	30/06/2015	Dutch	PDF
Abridged model	31/12/2013	12/06/2014	01/07/2014	Dutch	PDF
Abridged model	31/12/2012	28/06/2013	18/07/2013	Dutch	PDF
Abridged model	31/12/2011	29/06/2012	02/08/2012	Dutch	PDF
Abridged model	31/12/2010	30/06/2011	01/08/2011	Dutch	PDF
Abridged model	31/12/2009	08/03/2010	18/03/2010	Dutch	PDF
Abridged model	31/12/2008	30/06/2009	27/08/2009	Dutch	PDF
Abridged model	31/12/2007	26/06/2008	15/10/2008	Dutch	PDF
Abridged model	31/12/2006	29/06/2007	26/09/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 k€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 11 ended

Active mandates

Bart Bruyndonckx

Managing director · since 17 juin 2005

Active

Ended mandates

Kristel Bruyndonckx

Director · since 17 juin 2005

Ended

Bart BRUYNDONCKX

Managing director · until 02 mai 2011

Ended

Bart BRUYNDONCKX

Managing director · until 02 mai 2017

Ended

Bart BRUYNDONCKX

Managing director

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates29/12/2025
MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN
PDF
Mandates12/09/2018
ONTSLAGEN - BENOEMINGEN
PDF
Mandates29/11/2012
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares31/01/2012
KAPITAAL - AANDELEN
PDF
Mandates09/07/2008
ONTSLAGEN - BENOEMINGEN
PDF
Mandates25/08/2005
ONTSLAGEN - BENOEMINGEN
PDF
Mandates18/06/2003
ONTSLAGEN - BENOEMINGEN
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 2025-473,9 k €↓
2024
Annual accounts 20245,4 k €↓
2023
Annual accounts 202384,3 k €↓
2022
Annual accounts 2022401,9 k €↑
2021
Annual accounts 20213,4 k €↑
2020
Annual accounts 2020535,8 €↑
2019
Annual accounts 2019479,6 €↓
2018
Annual accounts 20181 k €↓
2017
Annual accounts 201726 k €↑
2016
Annual accounts 20162,7 k €↓
2015
Annual accounts 201514,7 k €↑
2014
Annual accounts 2014-24,3 k €↓
2013
Annual accounts 201317,6 k €↑
2012
Annual accounts 2012-4 k €↓
2011
Annual accounts 20116 k €↓
2010
Annual accounts 20106,1 k €↓
2009
Annual accounts 2009139,1 k €↑
2008
Annual accounts 20088,1 k €↓
2007
Annual accounts 200776,5 k €↑
2006
Annual accounts 20065,6 k €
23/11/1993
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

MAFRANS

Overview

What does MAFRANS do?

Trend over 20 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline