ACTIVE

MAFICON

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Financial year 2025 · closed on 31/12/2025

Net result

116,5 k €

+21.4% YoY

Gross margin

130,7 k €

+15.2% YoY

Equity

358 k €

+48.2% YoY

What does MAFICON do?

MAFICON is a Private limited company incorporated in 1998. Its main activity is: Passenger air transport. Its registered office is in Riemst.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0463.774.222

Incorporation

14/07/1998

Legal form

Private limited company

Registered office

Krekelgrachtstraat 14A
3770 Riemst · FlandreSee on map

Contributed capital

18 600,00 €

Latest accounts

31/12/2025

Activities (NACE)

51190Passenger air transport· main 70200Management consultancy activities 70220Business and other management consultancy activities 46190Agents involved in the sale of a variety of goods 46190Agents involved in the sale of a variety of goods 68100Buying and selling of own real estate+1

Contacts

1 public detail availableLog in to view

Signals

ProfitablePositive cashflowPositive EBITDA

View the BCE/KBO Public Search record →

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	130,7 k €	+15.2%	113,5 k €	-9.0%	124,7 k €	-17.5%	151,1 k €	-38.3%	244,9 k €	+46.3%	167,4 k €	-2.5%	171,6 k €	+81.1%	94,8 k €	+206%	31 k €	-78.2%	141,9 k €	-1.5%	144,1 k €	+1.2%	142,4 k €	+10.6%	128,8 k €	+12.8%	114,2 k €	-37.8%	183,4 k €	+34.3%	136,6 k €	+49.0%	91,6 k €	-22.3%	118 k €	+15.9%	101,8 k €
EBITDA	120 k €	+16.4%	103,1 k €	+13.9%	90,5 k €	-33.1%	135,3 k €	-42.5%	235,3 k €	+49.0%	157,9 k €	-2.7%	162,4 k €	+89.9%	85,5 k €	+309%	20,9 k €	-83.9%	129,9 k €	-7.7%	140,8 k €	+1.0%	139,4 k €	+11.4%	125,2 k €	+14.9%	108,9 k €	-37.4%	174,1 k €	+29.2%	134,8 k €	+52.7%	88,3 k €	-11.7%	99,9 k €	-0.4%	100,4 k €
Operating result	14,7 k €	+781%	-2,2 k €	+85.4%	-14,8 k €	-149%	30 k €	-76.9%	129,7 k €	+209%	42 k €	-10.1%	46,7 k €	+254%	-30,3 k €	+63.6%	-83,2 k €	-422%	25,8 k €	-78.8%	122 k €	+7.5%	113,5 k €	+14.3%	99,3 k €	+31.5%	75,5 k €	-46.0%	139,9 k €	+26.4%	110,7 k €	+47.9%	74,9 k €	-4.5%	78,4 k €	-0.6%	78,8 k €
Net result	116,5 k €	+21.4%	96 k €	+305%	-46,8 k €	+26.6%	-63,7 k €	-173%	87,4 k €	+1571%	5,2 k €	-58.3%	12,5 k €	+119%	-67,3 k €	+39.2%	-110,7 k €	-890%	14 k €	-85.4%	95,8 k €	+15.1%	83,3 k €	+62.3%	51,3 k €	-32.1%	75,5 k €	-31.3%	109,9 k €	+48.6%	73,9 k €	+3.0%	71,8 k €	+378%	15 k €	-53.9%	32,6 k €
Balance sheet
Equity	358 k €	+48.2%	241,5 k €	+66.0%	145,5 k €	-24.3%	192,3 k €	-24.9%	255,9 k €	+51.9%	168,5 k €	+2.9%	163,8 k €	+8.3%	151,2 k €	-30.8%	218,5 k €	-33.6%	329,2 k €	+32.6%	248,2 k €	+62.8%	152,4 k €	+120%	69,2 k €	+287%	17,9 k €	-57.8%	42,3 k €	-48.6%	82,5 k €	+869%	8,5 k €	-96.4%	236,7 k €	+6.8%	221,7 k €
Total assets	4,1 M €	+5.8%	3,8 M €	+4.8%	3,7 M €	-3.6%	3,8 M €	-4.3%	4 M €	+162%	1,5 M €	-3.1%	1,6 M €	-5.9%	1,7 M €	+5.2%	1,6 M €	+16.9%	1,4 M €	+339%	307,9 k €	+62.4%	189,6 k €	+29.6%	146,3 k €	-40.1%	244,2 k €	+13.2%	215,8 k €	-10.0%	239,6 k €	+25.9%	190,3 k €	-38.1%	307,3 k €	+0.5%	305,8 k €
Cash	15,8 k €	-48.5%	30,7 k €	-20.8%	38,8 k €	-44.2%	69,5 k €	-49.4%	137,4 k €	+26.0%	109,1 k €	+124%	48,6 k €	+147%	19,7 k €	-39.1%	32,3 k €	-65.0%	92,3 k €	-37.4%	147,3 k €	+102%	72,8 k €	+90.2%	38,3 k €	-71.0%	132 k €	+144%	54 k €	+2.3%	52,8 k €	+141%	21,9 k €	-67.7%	68 k €	-56.3%	155,5 k €
Debts	3,6 M €	+3.1%	3,5 M €	+1.5%	3,4 M €	-3.1%	3,5 M €	-5.5%	3,7 M €	+176%	1,3 M €	-3.7%	1,4 M €	-7.3%	1,5 M €	+11.0%	1,4 M €	+33.3%	1 M €	+1606%	59,6 k €	+60.6%	37,1 k €	-51.8%	77,1 k €	-65.9%	226,3 k €	+30.5%	173,4 k €	+10.3%	157,2 k €	-13.5%	181,8 k €	+176%	66 k €	-17.1%	79,5 k €

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 · 3 active · 11 ended

Active mandates

Danny Lenaerts

Managing director · since 03 juillet 1998

Active

Frederick Duchateau

Director

Active

Kris Lenaerts

Managing director

Active

Ended mandates

Danny Lenaerts

Managing director · since 28 juin 2021

Ended

Frederick Duchateau

Director · since 28 juin 2021

Ended

Frederick Duchateau

Administrator - manager · since 28 juin 2021

Ended

Kris Lenaerts

Managing director · since 28 juin 2021

Ended

At this address

Other companies at this address

Company	CBE no.
KEY-LOCK & CIE● Active	0887.866.932

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	21/08/2026	29/08/2025	30/08/2024	27/07/2023	17/10/2022	22/11/2021
General meeting	30/06/2026	27/08/2025	28/06/2024	30/06/2023	30/06/2022	30/09/2021
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	30/06/2026	21/08/2026	Dutch	PDF
Abridged model	31/12/2024	27/08/2025	29/08/2025	Dutch	PDF
Abridged model	31/12/2023	28/06/2024	30/08/2024	Dutch	PDF
Abridged model	31/12/2022	30/06/2023	27/07/2023	Dutch	PDF
Abridged model	31/12/2021	30/06/2022	17/10/2022	Dutch	PDF
Abridged model	31/12/2020	30/09/2021	22/11/2021	Dutch	PDF
Abridged model	31/12/2019	30/06/2020	27/07/2020	Dutch	PDF
Abridged model	31/12/2018	31/05/2019	26/06/2019	Dutch	PDF
Abridged model	31/12/2017	25/05/2018	30/08/2018	Dutch	PDF
Abridged model	31/12/2016	26/05/2017	26/08/2017	Dutch	PDF
Abridged model	31/12/2015	21/05/2016	23/05/2016	Dutch	PDF
Abridged model	31/12/2014	22/06/2015	25/06/2015	Dutch	PDF
Abridged model	31/12/2013	21/06/2014	08/07/2014	Dutch	PDF
Abridged model	31/12/2012	21/06/2013	01/07/2013	Dutch	PDF
Abridged model	31/12/2011	21/06/2012	27/08/2012	Dutch	PDF
Abridged model	31/12/2010	21/06/2011	05/09/2011	Dutch	PDF
Abridged model	31/12/2009	21/06/2010	30/06/2010	Dutch	PDF
Abridged model	31/12/2008	21/06/2009	30/06/2009	Dutch	PDF
Abridged model	31/12/2007	28/06/2008	30/06/2008	Dutch	PDF
Abridged model	31/12/2006	17/06/2007	27/06/2007	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 · 3 active · 11 ended

Active mandates

Danny Lenaerts

Managing director · since 03 juillet 1998

Active

Frederick Duchateau

Director

Active

Kris Lenaerts

Managing director

Active

Ended mandates

Danny Lenaerts

Managing director · since 28 juin 2021

Ended

Frederick Duchateau

Director · since 28 juin 2021

Ended

Frederick Duchateau

Administrator - manager · since 28 juin 2021

Ended

Kris Lenaerts

Managing director · since 28 juin 2021

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates12/06/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates12/07/2021
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - DOEL - ONTSLAGEN - BENOEMINGEN
PDF
Mandates03/05/2018
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 2025116,5 k €↑
2024
Annual accounts 202496 k €↑
2023
Annual accounts 2023-46,8 k €↑
2022
Annual accounts 2022-63,7 k €↓
2021
Annual accounts 202187,4 k €↑
2020
Annual accounts 20205,2 k €↓
2019
Annual accounts 201912,5 k €↑
2018
Annual accounts 2018-67,3 k €↑
2017
Annual accounts 2017-110,7 k €↓
2016
Annual accounts 201614 k €↓
2014
Annual accounts 201495,8 k €↑
2013
Annual accounts 201383,3 k €↑
2012
Annual accounts 201251,3 k €↓
2011
Annual accounts 201175,5 k €↓
2010
Annual accounts 2010109,9 k €↑
2009
Annual accounts 200973,9 k €↑
2008
Annual accounts 200871,8 k €↑
2007
Annual accounts 200715 k €↓
2006
Annual accounts 200632,6 k €
14/07/1998
IncorporationPrivate 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

MAFICON

Overview

What does MAFICON do?

Trend over 19 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