BAG-MacBen
ActiveSummary
BAG-MacBen has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €167,238 and a net result of €34,182. Equity is shrinking by ~12.2% per year across the filed fiscal years. Its solvency ranks better than 14% of 409 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability38▲+34
Solvency33▲+5
Growth32=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €8,000 at 30 days acceptable
Liquidity short (current ratio 0.78 against 0.59 in 2024; short-term debt: 69.3% and cash: 1.7% of total assets), and 92.5% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
7.5%
Return on assets
1.5%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 14% of 409 sector peers (2025).
NBB · sector comparisonPosition among 409 sector peers
Solvency
better than 14%
← weakest
strongest →
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 01-07-2026, 30 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
30 d early
2024
29 d late
2023
28 d early
2022
28 d late
2022
3 d late
2021
32 d early
2020
2 d 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 5 days before the deadline; the sector median for financial year 2024 is 11 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 1 August (3 of the last 4 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€167,238▲ 226%
2024 · €51,269
Total assets
€2.2m▲ 17.4%
2024 · €1.9m
Net result
€34,182
2024 · -€227,283
Working capital
-€343,617▲ 40.3%
2024 · -€575,510
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 28, Manufacture of machinery and equipment not elsewhere classified, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20222022202320242025
Operating result€321,638▲ 96.5%-€38,374--€76,348▼ 99.0%-€157,321▼ 106%€107,518
Net result€259,798above the sector's middle half▲ 155%-€62,193below the sector's middle half--€143,678below the sector's middle half▼ 131%-€227,283below the sector's middle half▼ 58.2%€34,182within the sector's middle half
Equity€481,675within the sector's middle half▼ 0.6%€419,482within the sector's middle half-€278,552within the sector's middle half▼ 33.6%€51,269below the sector's middle half▼ 81.6%€167,238within the sector's middle half▲ 226%
Total assets€2.2mwithin the sector's middle half▲ 5.9%€2.0mwithin the sector's middle half-€2.0mwithin the sector's middle half▼ 1.7%€1.9mwithin the sector's middle half▼ 4.7%€2.2mwithin the sector's middle half▲ 17.4%
Debt€1.7m▲ 7.9%€1.6m-€1.7m▲ 4.6%€1.8m▲ 8.2%€2.0m▲ 11.9%
Working capital-€42,420below the sector's middle half▼ 150%-€133,361below the sector's middle half--€343,315below the sector's middle half▼ 157%-€575,510below the sector's middle half▼ 67.6%-€343,617below the sector's middle half▲ 40.3%
Solvency21.6%below the sector's middle half▼ 1.4pp20.8%below the sector's middle half-14.1%below the sector's middle half▼ 6.7pp2.7%below the sector's middle half▼ 11.3pp7.5%below the sector's middle half▲ 4.8pp
Current ratio0.96below the sector's middle half▼ 0.020.87below the sector's middle half-0.72below the sector's middle half▼ 0.150.59below the sector's middle half▼ 0.130.78below the sector's middle half▲ 0.19
Return on assets (ROA)11.7%within the sector's middle half▲ 6.8pp-3.1%below the sector's middle half--7.3%below the sector's middle half▼ 4.2pp-12.0%below the sector's middle half▼ 4.8pp1.5%within the sector's middle half▲ 13.6pp
Staff (FTE)8.6within the sector's middle half▲ 19.4%6.9within the sector's middle half-9within the sector's middle half▲ 30.4%6.5within the sector's middle half▼ 27.8%4within the sector's middle half▼ 38.5%
above
within
below
the middle half (P25 to P75) of NACE 28, Manufacture of machinery and equipment not elsewhere classified, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
Multiple fiscal year ends fall in the same calendar year; an annual trend is not displayed.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.2m
Fixed assets
€1.0m ▼ 3.9%
Current assets
€1.2m ▲ 45.1%
Equity and liabilities €2.2m
Equity
€167,238 ▲ 226%
Provisions
€35,725 ▼ 5.4%
Debt
€2.0m ▲ 11.9%
Debt's share of the balance-sheet total falls from 95.3% to 90.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€161,775▲
2024 · -€102,054
Cash flow
€88,439▲
2024 · -€172,017
Quick ratio
0.40▲
2024 · 0.21
Debt to equity
12.05▼
2024 · 35.11
ROE
20.4%▲
2024 · -443.3%
Interest coverage
2.14▲
2024 · -1.45
Debt ≤ 1 year
€1.5m▲
2024 · €1.4m
Debt > 1 year
€478,676▲
2024 · €402,441
Income taxes
-€59▼
2024 · €4,511
Staff costs
€292,679▼
2024 · €524,684
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,082 companies that looked in July 2024 the way this one looks now, 0.8% went bankrupt within 24 months and 97% are still going.
- Micro
- 20 years or older
- solvency under 10%
- a profit under 5% of the balance sheet
0.8%
went bankrupt
2.2%
stopped otherwise
97%
still going
For this company itself Checked computes a bankruptcy probability of 0.3% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 1,082 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2022 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €1,437 | €26,727 | ▲ 1,760% |
| Remuneration, social security and pensions62 | €523,554 | €455,794 | €669,726 | €524,684 | €292,679 | ▼ 44.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €64,017 | €45,362 | €56,620 | €55,266 | €54,257 | ▼ 1.8% |
| Other operating charges640/8 | €3,782 | €6,435 | €10,876 | €11,512 | €8,695 | ▼ 24.5% |
| Non-recurring operating charges66A | - | - | - | €66 | - | - |
| Gross operating margin9900 | €912,990 | €469,217 | €660,873 | €434,208 | €463,148 | ▲ 6.7% |
| Operating profit (loss)9901 | €321,638 | -€38,374 | -€76,348 | -€157,321 | €107,518 | ▲ 168% |
| Financial income75/76B | €36,544 | €1,549 | €1,373 | €2,719 | €281 | ▼ 89.7% |
| Recurring financial income75 | €36,544 | €1,549 | €1,373 | €2,719 | €281 | ▼ 89.7% |
| Financial charges65/66B | €37,095 | €24,391 | €43,211 | €70,211 | €75,718 | ▲ 7.8% |
| Recurring financial charges65 | €37,095 | €24,391 | €43,211 | €70,211 | €75,718 | ▲ 7.8% |
| Profit (loss) for the period before taxes9903 | €321,086 | -€61,216 | -€118,187 | -€224,813 | €32,081 | ▲ 114% |
| Transfer from deferred taxes780 | €327 | €163 | €37,194 | €2,041 | €2,041 | = |
| Transfer to deferred taxes680 | - | - | €35,153 | - | - | - |
| Income taxes67/77 | €61,614 | €1,140 | €27,532 | €4,511 | -€59 | ▼ 101% |
| Profit (loss) for the period9904 | €259,798 | -€62,193 | -€143,678 | -€227,283 | €34,182 | ▲ 115% |
| Transfer from tax-exempt reserves789 | €7,839 | €3,920 | €6,124 | €6,124 | €6,124 | = |
| Profit (loss) for the period to be appropriated9905 | €267,637 | -€58,273 | -€137,554 | -€221,159 | €40,306 | ▲ 118% |
| Line | 2022 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.2m | €2.0m | €2.0m | €1.9m | €2.2m | ▲ 17.4% |
| Fixed assets21/28 | €1.2m | €1.2m | €1.1m | €1.1m | €1.0m | ▼ 3.9% |
| Tangible fixed assets22/27 | €1.2m | €1.1m | €1.1m | €1.1m | €1.0m | ▼ 5.3% |
| Land and buildings22 | €1.1m | €1.1m | €1.1m | €1.0m | €965,823 | ▼ 4.6% |
| Plant, machinery and equipment23 | €41,094 | €35,448 | €45,806 | €39,447 | €33,150 | ▼ 16.0% |
| Furniture and vehicles24 | €1,016 | €3,747 | €6,753 | €7,151 | €3,867 | ▼ 45.9% |
| Leasing and similar rights25 | €4,382 | €1,095 | - | - | - | - |
| Financial fixed assets28 | €8,467 | €8,467 | €8,467 | €8,467 | €22,417 | ▲ 165% |
| Current assets29/58 | €1.0m | €863,322 | €862,111 | €821,970 | €1.2m | ▲ 45.1% |
| Stocks and contracts in progress3 | €558,699 | €470,631 | €468,021 | €530,001 | €577,960 | ▲ 9.0% |
| Stocks30/36 | €558,699 | €470,631 | €468,021 | €530,001 | €577,960 | ▲ 9.0% |
| Amounts receivable within one year40/41 | €375,221 | €305,350 | €332,806 | €276,646 | €575,705 | ▲ 108% |
| Trade receivables40 | €375,221 | €305,350 | €232,521 | €272,127 | €568,322 | ▲ 109% |
| Other amounts receivable41 | - | - | €100,285 | €4,519 | €7,383 | ▲ 63.4% |
| Cash at bank and in hand54/58 | €92,868 | €82,516 | €59,401 | €13,441 | €37,025 | ▲ 175% |
| Deferred charges and accrued income490/1 | €4,438 | €4,825 | €1,883 | €1,883 | €1,889 | ▲ 0.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.2m | €2.0m | €2.0m | €1.9m | €2.2m | ▲ 17.4% |
| Equity10/15 | €481,675 | €419,482 | €278,552 | €51,269 | €167,238 | ▲ 226% |
| Contributions10/11 | €18,592 | €18,592 | €18,592 | €18,592 | €63,213 | ▲ 240% |
| Reserves13 | €266,478 | €262,559 | €221,282 | €215,158 | €209,034 | ▼ 2.8% |
| Non-distributable reserves130/1 | €1,859 | €1,859 | - | - | - | - |
| Reserves not available under the articles1311 | €1,859 | €1,859 | - | - | - | - |
| Tax-exempt reserves132 | €164,619 | €160,700 | €119,423 | €113,299 | €107,175 | ▼ 5.4% |
| Distributable reserves133 | €100,000 | €100,000 | €101,859 | €101,859 | €101,859 | = |
| Profit (loss) carried forward14 | €196,605 | €138,331 | €38,678 | -€182,481 | -€105,009 | ▲ 42.5% |
| Provisions and deferred taxes16 | €6,859 | €6,696 | €39,808 | €37,766 | €35,725 | ▼ 5.4% |
| Deferred taxes168 | €6,859 | €6,696 | €39,808 | €37,766 | €35,725 | ▼ 5.4% |
| Amounts payable17/49 | €1.7m | €1.6m | €1.7m | €1.8m | €2.0m | ▲ 11.9% |
| Amounts payable after more than one year17 | €650,872 | €593,212 | €457,053 | €402,441 | €478,676 | ▲ 18.9% |
| Financial debts170/4 | €631,689 | €593,212 | €457,053 | €402,441 | €478,676 | ▲ 18.9% |
| Advances received on contracts in progress176 | €19,183 | - | - | - | - | - |
| Amounts payable within one year42/48 | €1.1m | €996,684 | €1.2m | €1.4m | €1.5m | ▲ 9.9% |
| Current portion of amounts payable after more than one year42 | €75,197 | €66,332 | €60,369 | €54,612 | €56,444 | ▲ 3.4% |
| Financial debts43 | €225,000 | €225,000 | €293,851 | €251,789 | €258,704 | ▲ 2.7% |
| Credit institutions430/8 | €225,000 | €225,000 | €293,851 | €251,789 | €258,704 | ▲ 2.7% |
| Trade debts44 | €198,839 | €151,965 | €329,219 | €112,834 | €145,857 | ▲ 29.3% |
| Suppliers440/4 | €198,839 | €151,965 | €329,219 | €112,834 | €145,857 | ▲ 29.3% |
| Advances received on contracts in progress46 | - | - | - | €40,131 | €62,035 | ▲ 54.6% |
| Taxes, remuneration and social security45 | €152,783 | €150,474 | €103,070 | €55,682 | €57,555 | ▲ 3.4% |
| Taxes450/3 | €63,266 | €70,854 | €42,678 | €16,824 | €27,408 | ▲ 62.9% |
| Remuneration and social security454/9 | €89,517 | €79,620 | €60,392 | €38,858 | €30,146 | ▼ 22.4% |
| Other amounts payable47/48 | €421,827 | €402,913 | €418,917 | €882,433 | €955,600 | ▲ 8.3% |
| Accrued charges and deferred income492/3 | €12,131 | €201 | €319 | - | - | - |
| Line | 2022 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €259,798 | -€62,193 | -€143,678 | -€227,283 | €34,182 | ▲ 115% |
| + Depreciation and write-downs630 | €64,017 | €45,362 | €56,620 | €55,266 | €54,257 | ▼ 1.8% |
| Operating cash flow (approximation) | €323,816 | -€16,830 | -€87,058 | -€172,017 | €88,439 | ▲ 151% |
| Investment in fixed assets (approximation) | - | - | -€22,713 | -€3,206 | -€12,527 | ▼ 291% |
| Change in cash | - | - | -€23,115 | -€45,961 | €23,584 | ▲ 151% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
01-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Back to profitnet €34,182
Net result €34,182 after 3 loss-making years.
31-12
Financial
Equity above €150,000Eq €167,238 ▲226%
Equity rises from €51,269 to €167,238.
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 29 days late
2024
31-12
Financial
Weakest financial yearnet -€227,283
Net result drops to -€227,283, the lowest in the series; recovery starts the following year.
03-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 28 days late
2022
03-11
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 3 days late
31-03
Financial
Highest result since 2019net €259,798 ▲155%
Operating result €321,638, net result €259,798, both a record.
2021
29-09
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2020
29-10
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2019
30-09
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
24-10
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
12-10
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 9 acts read
About the unread acts
We know of 9 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
9 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Sint-Niklaas · 1 establishment unit since 2000
Ground area
1,994 m²
Building footprint
785 m²
Volume, LiDAR
1,974 m³
Parcel 46442C1276/39_000, Flanders · tallest building 6.4 m, ±1 floor. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
MACBEN BVBA
since 20002.057.573.995
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46442C1276/39_000 | Flanders | 1,994 m² | 1 · 785 m² | 6.4 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
2 ownersChain of control
- Newton Force
- BAG-MacBen
Highest known parent: Newton Force. The sources do not say who stands above it.
Owners 2
- Newton Forceparent100%
- RICAROparentSourceaccounts RICARO 2023100%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2022 to 2024 · 4 entries · 10,311 EUR awarded · 10,311 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 0 EUR | 7,500 EUR |
| 2023 | 2 | 9,516 EUR | 2,811 EUR |
| 2022 | 1 | 795 EUR | 0 EUR |
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Of 268 companies in sector 28220 we hold annual accounts for 233. 158 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded27-04-1992
Fiscal year end31-12
Activities, NACEBEL 2025
28220Manufacture of machinery and equipment not elsewhere classified
46649Wholesale of other machinery and equipment
Contact
Website
www.macben.eu
E-mail
wilfried@macben.eu
E-invoicing
Reachable via Peppol
Peppol ID
0208:0447286695
Registered
08-01-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.