Financials
- Financial year
- 2025
- Turnover
- €325.2m
- Loss
- -€104.2m
- Solvency
- 23.9%
Turnover▼ 5.3%
Net result
20202025
Alken-Maes
ActiveSummary
The computed 12-month bankruptcy probability of Alken-Maes is 1.9% (moderate). The annual accounts of Alken-Maes for financial year 2025 show a net loss of 62% of the equity at the start of that year. The 2025 annual accounts show equity of €65.5m and a net result of -€104.2m. Equity remains stable across the filed financial years (±0.3% per year). Its solvency ranks better than 39% of 103 sector peers (NACE 11, financial year 2025). The company has been active since 2018 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Activity
Manufacture of beer
NACE 11050
#1 employer in Belgium, Beverages sector5 sites
Size
€325.2mturnover 2025
- Staff
- 591.3 FTE
- Equity
- €65.5m
- Loss
- -€104.2m
Equity -61%: merger
Structure
- Parent
- Heineken International B.V. · 76.4%
- Holdings
- 6
- Kenny WillemsManaging director
- Dominique RASKINDirector
- Hannelore CalmeynDirector
Auditor: KPMG BedrijfsrevisorenAccounts 1 day early
Why 52raises riskLoss of €104.2m (financial year 2025)Liquidity: current ratio 0.98, cash €863,6111 change of registered office in 24 monthslowers riskSector: Manufacture of beverages (NACE 11)Show the evidence
Checked score
Score 2025
52
/ 100
Fair
Probability in this band: 1.5% to 4.2%
Financially better than 20% of its sector peers (all companies)
Financial strength · tick = 2024
Weak
Solvency
49-22
equity 23.9% of total assets
Liquidity
27-14
short-term debt 47.6% · cash 0.3%
Profitability
0-59
return on assets -38.0%
Bankruptcy probability, 12 months
1.9%
Moderate
0%0.5%1.5%4%10%≥ 25%
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
11-2024: 0.4%
12-2024: 0.4%● unchanged vs 11-2024
01-2025: 0.4%● unchanged vs 12-2024
02-2025: 0.4%● unchanged vs 01-2025lowest value
03-2025: 0.4%● unchanged vs 02-2025
04-2025: 0.4%● unchanged vs 03-2025
05-2025: 0.4%● unchanged vs 04-2025
06-2025: 0.5%▲ +0.1 percentage points vs 05-2025
07-2025: 0.5%● unchanged vs 06-2025
08-2025: 0.5%● unchanged vs 07-2025
09-2025: 0.5%● unchanged vs 08-2025
10-2025: 0.5%● unchanged vs 09-2025
11-2025: 0.5%● unchanged vs 10-2025
12-2025: 0.5%● unchanged vs 11-2025
01-2026: 0.5%● unchanged vs 12-2025
02-2026: 0.5%● unchanged vs 01-2026
03-2026: 0.7%▲ +0.2 percentage points vs 02-2026
04-2026: 0.8%▲ +0.1 percentage points vs 03-2026
05-2026: 0.8%● unchanged vs 04-2026
06-2026: 0.8%● unchanged vs 05-2026
07-2026: 0.8%● unchanged vs 06-2026
08-2026: 1.9%▲ +1.1 percentage points vs 07-2026highest value
09-2026: 1.9%● unchanged vs 08-2026highest value
10-2026: 1.9%● unchanged vs 09-2026highest value
Credit of up to €3,400,000 on 30-day terms, only on tighter conditions
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity insufficient (current ratio 0.98, compared with 1.48 in 2024; short-term debt: 47.6% and cash: 0.3% of total assets), and 76.1% of the assets are financed with debt.
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (all companies): better than 37% on solvency, 23% on liquidity, 4% on profitability and 15% on growth.
The bankruptcy probability was computed on 08-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
Five signals.
−lowers risk+raises risk○neutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-07-2026, 1 day ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
1 day early
2024
7 days early
2023
13 days early
2022
5 days early
2021
4 days early
2020
19 days late
2019
15 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 4 days before the deadline; the sector median (NACE 11) for financial year 2024 is 2 days before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 26 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsWhere today falls in the filing period
09-10-2026 today31-12-2026 year end31-07-2027 deadline
- Annual accounts filedfinancial year 2025 · full…
- Resignations: Valérie Laporte, Robert Mataheroe and…Gazette deed
- Resignation: Valérie Delaby (director)Permanent representative: Robert Mataheroe ·…
Key points
- Caution: From profit to loss in 2025after €1.8m in 2024 -€104.2m View
- Caution: Among the weakest 5% on net resultsector median €34,060 · 104 companies -€104.2m View
- Caution: Directors leftlatest change 30-06-2026 · 3 in office 4 left View
- Controlled by Heineken International B.V.known shareholders 100% 76.4% View
- Merger with Brasserie Extensionmerger on 29-07-2025 2025 View
- Flemish supportawarded 2022 - 2025 €1.3m View
- Positive: Filed on time since financial year 2021accounts within the deadline every year 5 years View
By topic
Board & ownership
- Board
- 3 members
- Parent
- Heineken International B.V. · 76.4%
- Known shareholders
- 100%
- Auditor
- KPMG Bedrijfsrevisoren
- Kenny WillemsManaging director
- Dominique RASKINDirector
- Hannelore CalmeynDirector
Network & group
- Subsidiaries
- 5
- Holdings
- 6
- Connected companies
- 6
- Mergers and contributions
- 5
6 holdings
Timeline
- Events
- 46
- Since
- 2019
- Next accounts
- by 31-07-2027
- 18-02-2026Registered office
- 31-12-2025Weakest financial year
- 06-10-2025Resignation: Marc Josephus Jitta (managing director)
Company details
- Sites
- 5
- Legal form
- Public limited company
- Activity
- Manufacture of beerNACE 11050
- Founded
- 28-12-2018
- Year ends
- 31-12
- Peppol
- Reachable for e-invoices
Articles of association
- Provisions read
- 1
- Purpose
- De vennootschap heeft tot voorwerp, zowel in België als in het buitenland, voor eigen…
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