ACTIVE

MAFFF

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Financial year 2025 · closed on 31/12/2025

Net result

-48,8 k €

-265.7% YoY

Gross margin

16,3 k €

+563.7% YoY

Equity

-848,3 k €

-6.1% YoY

What does MAFFF do?

MAFFF is a Private limited company incorporated in 2010. Its main activity is: Activities of holding companies. Its registered office is in Rotselaar.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0828.433.151

Incorporation

05/08/2010

Legal form

Private limited company

Registered office

Steenweg op Gelrode 106
3110 Rotselaar · FlandreSee on map

Contributed capital

262 000,00 €

Latest accounts

31/12/2025

Activities (NACE)

64200Activities of holding companies· main 64210Activities of holding companies 47781Other retail sale of new goods in specialised stores 47990Other retail sale not in stores, stalls or markets 68100Buying and selling of own real estate 68110Buying and selling of own real estate+6

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✦ Verdict · Analyst summary

Financials

Trend over 15 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011
Income statement
Gross margin	16,3 k €	+564%	2,5 k €	+111%	-22 k €	+67.7%	-68,2 k €	-27.6%	-53,5 k €	-144%	120,4 k €	+10.7%	108,7 k €	-31.6%	159 k €	+34.9%	117,9 k €	-46.9%	221,8 k €	+51.3%	146,6 k €	+1422%	9,6 k €	-98.9%	841,5 k €	+206%	-791,3 k €	-3254%	-23,6 k €
EBITDA	-39,2 k €	-4086%	983,2 €	+104%	-22,4 k €	+74.1%	-86,4 k €	-38.3%	-62,5 k €	-152%	120 k €	+10.7%	108,4 k €	-26.8%	148,1 k €	+31.4%	112,7 k €	-46.3%	210 k €	+51.1%	138,9 k €	+3302%	4,1 k €	-99.5%	841,1 k €	+206%	-791,3 k €	-3158%	-24,3 k €
Operating result	-48,4 k €	-267%	-13,2 k €	+65.8%	-38,7 k €	+62.1%	-102 k €	-28.1%	-79,6 k €	-198%	81,3 k €	-16.7%	97,6 k €	+38.3%	70,6 k €	+79.9%	39,3 k €	-71.3%	136,5 k €	+112%	64,3 k €	+187%	-73,9 k €	-110%	704,8 k €	+189%	-796,3 k €	-2780%	-27,7 k €
Net result	-48,8 k €	-266%	-13,3 k €	+65.6%	-38,8 k €	+58.9%	-94,3 k €	-24.5%	-75,8 k €	-194%	80,6 k €	-17.1%	97,2 k €	+38.0%	70,4 k €	+80.4%	39 k €	-71.4%	136,4 k €	+112%	-1,2 M €	-3342%	36,5 k €	-94.8%	704,6 k €	+189%	-793,7 k €	-2790%	-27,5 k €
Balance sheet
Equity	-848,3 k €	-6.1%	-799,5 k €	-1.7%	-786,1 k €	-5.2%	-747,3 k €	-14.4%	-653 k €	-13.1%	-577,2 k €	+13.8%	-669,8 k €	+12.7%	-767 k €	+8.4%	-837,4 k €	+4.5%	-876,5 k €	+13.5%	-1 M €	-696%	169,9 k €	+27.3%	133,4 k €	+123%	-571,2 k €	-357%	222,5 k €
Total assets	628,8 k €	+577%	92,9 k €	+6.1%	87,6 k €	-70.5%	297,2 k €	-2.4%	304,5 k €	+86.2%	163,5 k €	+61.5%	101,3 k €	+0.6%	100,7 k €	-32.0%	148,2 k €	-50.9%	302 k €	-2.3%	309,1 k €	-80.7%	1,6 M €	+0.7%	1,6 M €	+1244%	118,2 k €	-49.8%	235,4 k €
Cash	518,7 k €	+2558%	19,5 k €	+63.7%	11,9 k €	+17.7%	10,1 k €	+1654%	577,6 €	-95.8%	13,9 k €	+17.1%	11,9 k €	-74.1%	46 k €	+26.9%	36,2 k €	+59.7%	22,7 k €		–		13,4 k €	+128%	5,9 k €	-64.1%	16,3 k €	-88.5%	141,9 k €
Debts	1,5 M €	+65.5%	892,4 k €	+2.1%	873,7 k €	-16.3%	1 M €	+9.1%	957,4 k €	+29.3%	740,8 k €	-3.9%	771,1 k €	-11.1%	867,7 k €	-12.0%	985,6 k €	-16.4%	1,2 M €	-10.9%	1,3 M €	-7.6%	1,4 M €	-1.7%	1,5 M €	+111%	689,4 k €	+5261%	12,9 k €

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 4 ended

Active mandates

Fiona Alicia Westheim

Andere functie

Active

Floris Johannes Westheim

Andere functie

Active

Ended mandates

Marcel Westheim

Manager · since 05 août 2010

Ended

Marcel Johannes Westheim

Director

Ended

Marcel Johannes Westheim

Manager

Ended

Marcel Westheim

Manager

Ended

At this address

Other companies at this address

Company	CBE no.
2B Fixed● Active	1018.880.872
Auron● Active	0443.630.290
Boekhoudkantoor Carl Van Gestel● Active	0428.562.232
C-CONSULTANTS● Active	0456.363.818
KTL Solutions● Active	1018.812.180
W-Fin● Active	0708.990.123
Wolfron● Active	0789.305.331
Yxof● Active	0789.847.343

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro 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	11/08/2026	14/08/2025	27/09/2024	29/09/2023	21/07/2022	30/09/2021
General meeting	25/06/2026	25/06/2025	25/06/2024	17/05/2023	17/05/2022	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

15 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	25/06/2026	11/08/2026	Dutch	PDF
Micro model	31/12/2024	25/06/2025	14/08/2025	Dutch	PDF
Micro model	31/12/2023	25/06/2024	27/09/2024	Dutch	PDF
Micro model	31/12/2022	17/05/2023	29/09/2023	Dutch	PDF
Micro model	31/12/2021	17/05/2022	21/07/2022	Dutch	PDF
Micro model	31/12/2020	30/09/2021	30/09/2021	Dutch	PDF
Micro model	31/12/2019	16/05/2020	23/11/2020	Dutch	PDF
Micro model	31/12/2018	26/06/2019	16/09/2019	Dutch	PDF
Abridged model	31/12/2017	26/06/2018	15/07/2019	Dutch	PDF
Abridged model	31/12/2016	30/06/2017	17/07/2017	Dutch	PDF
Abridged model	31/12/2015	19/05/2016	30/08/2016	Dutch	PDF
Abridged model	31/12/2014	21/05/2015	31/08/2015	Dutch	PDF
Abridged model	31/12/2013	29/06/2014	30/09/2014	Dutch	PDF
Abridged model	31/12/2012	16/05/2013	27/10/2013	Dutch	PDF
Abridged model	31/12/2011	18/05/2012	21/08/2012	Dutch	PDF

Estimate

Indicative valuation

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 · 2 active · 4 ended

Active mandates

Fiona Alicia Westheim

Andere functie

Active

Floris Johannes Westheim

Andere functie

Active

Ended mandates

Marcel Westheim

Manager · since 05 août 2010

Ended

Marcel Johannes Westheim

Director

Ended

Marcel Johannes Westheim

Manager

Ended

Marcel Westheim

Manager

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates16/10/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates01/09/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates07/02/2024
WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING
PDF
Mandates18/02/2020
MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN
PDF
Registered office27/09/2016
MAATSCHAPPELIJKE ZETEL
PDF
Other23/08/2010
RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, ENZ...)
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 2025-48,8 k €↓
2024
Annual accounts 2024-13,3 k €↑
2023
Annual accounts 2023-38,8 k €↑
2022
Annual accounts 2022-94,3 k €↓
2021
Annual accounts 2021-75,8 k €↓
2020
Annual accounts 202080,6 k €↓
2019
Annual accounts 201997,2 k €↑
2018
Annual accounts 201870,4 k €↑
2017
Annual accounts 201739 k €↓
2016
Annual accounts 2016136,4 k €↑
2015
Annual accounts 2015-1,2 M €↓
2014
Annual accounts 201436,5 k €↓
2013
Annual accounts 2013704,6 k €↑
2012
Annual accounts 2012-793,7 k €↓
2011
Annual accounts 2011-27,5 k €
05/08/2010
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

MAFFF

Overview

What does MAFFF do?

Trend over 15 financial years

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