BE MACARONS
ActiveSummary
The annual accounts of BE MACARONS for fiscal year 2025 show a net loss of 70% of the equity at the start of that year. The 2025 annual accounts show equity of €3,135 and a net result of -€7,288. Equity is shrinking by ~16.1% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2027. Its solvency ranks better than 32% of 1577 sector peers (fiscal year 2025). The company has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 1.3% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-12
Solvency39▼-3
Growth32=
Track record100
Bankruptcy probability, 12 months
1.3%
Low
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity tight (current ratio 1.12 against 1.13 in 2024; short-term debt: 86% and cash: 67.2% of total assets), and 86% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 10
Relative position
BE, all sectors
reference
Manufacture of food products (NACE 10)
about 60% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
14%
Return on assets
-32.5%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€7,288
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 30-04-2026, 92 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
92 d early
2024
86 d early
2023
71 d early
2022
60 d late
2021
30 d late
2020
26 d late
2019
24 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 22 days before the deadline; the sector median for financial year 2024 is 5 days before the deadline, and 38% 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 22 May (4 of the last 5 filed years within 100 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€3,135▼ 69.9%
2024 · €10,423
Total assets
€22,428▼ 64.1%
2024 · €62,424
Net result
-€7,288▼ 102%
2024 · -€3,612
Working capital
€2,360▼ 63.8%
2024 · €6,519
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 10, Manufacture of food products, 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
Line20212022202320242025
Operating result€21,112▲ 302%€8,193▼ 61.2%€9,281▲ 13.3%-€5,237-€5,745▼ 9.7%
Net result€17,083within the sector's middle half▲ 507%€6,364within the sector's middle half▼ 62.7%€1,279within the sector's middle half▼ 79.9%-€3,612below the sector's middle half-€7,288below the sector's middle half▼ 102%
Equity€31,391within the sector's middle half▼ 42.2%€37,755within the sector's middle half▲ 20.3%€39,034within the sector's middle half▲ 3.4%€10,423within the sector's middle half▼ 73.3%€3,135below the sector's middle half▼ 69.9%
Total assets€97,982within the sector's middle half▲ 13.3%€68,659below the sector's middle half▼ 29.9%€60,435below the sector's middle half▼ 12.0%€62,424below the sector's middle half▲ 3.3%€22,428below the sector's middle half▼ 64.1%
Debt€66,591▲ 107%€30,904▼ 53.6%€21,401▼ 30.8%€52,001▲ 143%€19,293▼ 62.9%
Working capital€17,130within the sector's middle half▼ 53.5%€27,645within the sector's middle half▲ 61.4%€32,231within the sector's middle half▲ 16.6%€6,519within the sector's middle half▼ 79.8%€2,360within the sector's middle half▼ 63.8%
Solvency32.0%within the sector's middle half▼ 30.8pp55.0%above the sector's middle half▲ 23.0pp64.6%above the sector's middle half▲ 9.6pp16.7%within the sector's middle half▼ 47.9pp14.0%within the sector's middle half▼ 2.7pp
Current ratio1.26within the sector's middle half▼ 0.891.89within the sector's middle half▲ 0.642.51above the sector's middle half▲ 0.611.13within the sector's middle half▼ 1.381.12within the sector's middle half=
Return on assets (ROA)17.4%above the sector's middle half▲ 14.2pp9.3%within the sector's middle half▼ 8.2pp2.1%within the sector's middle half▼ 7.2pp-5.8%below the sector's middle half▼ 7.9pp-32.5%below the sector's middle half▼ 26.7pp
above
within
below
the middle half (P25 to P75) of NACE 10, Manufacture of food products, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €5,745 in 2025 against €5,237 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €22,428
Fixed assets
€775 ▼ 80.1%
Current assets
€21,653 ▼ 63.0%
Equity and liabilities €22,428
Equity
€3,135 ▼ 69.9%
Debt
€19,293 ▼ 62.9%
Debt's share of the balance-sheet total rises from 83.3% to 86.0%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€2,412▼
2024 · -€1,370
Cash flow
-€3,955▼
2024 · €255
Debt to equity
6.15▲
2024 · 4.99
ROE
-232.5%▼
2024 · -34.7%
Interest coverage
-2.20▼
2024 · -0.67
Debt ≤ 1 year
€19,293▼
2024 · €52,001
Income taxes
€446▲
2024 · -€3,678
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,295 companies that looked in July 2024 the way this one looks now, 3.6% went bankrupt within 24 months and 89% are still going.
- Micro
- 10 to 20 years old
- solvency 10 to 30%
- a loss of 10% of the balance sheet or more
3.6%
went bankrupt
5.9%
stopped otherwise
89%
still going
A further 1.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.3% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 1,295 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,264 | €4,150 | €4,464 | €3,867 | €3,333 | ▼ 13.8% |
| Other operating charges640/8 | €2,846 | €2,159 | €3,868 | €682 | €1,148 | ▲ 68.4% |
| Gross operating margin9900 | €28,222 | €14,502 | €17,612 | -€688 | -€1,264 | ▼ 83.7% |
| Operating profit (loss)9901 | €21,112 | €8,193 | €9,281 | -€5,237 | -€5,745 | ▼ 9.7% |
| Financial income75/76B | €1,775 | €42 | - | - | €0 | - |
| Recurring financial income75 | €1,775 | €42 | - | - | €0 | - |
| Financial charges65/66B | €545 | €637 | €1,001 | €2,054 | €1,098 | ▼ 46.6% |
| Recurring financial charges65 | €545 | €637 | €1,001 | €2,054 | €1,098 | ▼ 46.6% |
| Profit (loss) for the period before taxes9903 | €22,342 | €7,598 | €8,279 | -€7,290 | -€6,842 | ▲ 6.2% |
| Income taxes67/77 | €5,259 | €1,233 | €7,000 | -€3,678 | €446 | ▲ 112% |
| Profit (loss) for the period9904 | €17,083 | €6,364 | €1,279 | -€3,612 | -€7,288 | ▼ 102% |
| Profit (loss) for the period to be appropriated9905 | €17,083 | €6,364 | €1,279 | -€3,612 | -€7,288 | ▼ 102% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €97,982 | €68,659 | €60,435 | €62,424 | €22,428 | ▼ 64.1% |
| Fixed assets21/28 | €14,260 | €10,111 | €6,804 | €3,903 | €775 | ▼ 80.1% |
| Tangible fixed assets22/27 | €14,260 | €10,111 | €6,804 | €3,903 | €570 | ▼ 85.4% |
| Plant, machinery and equipment23 | €2,223 | €1,265 | €307 | €154 | - | - |
| Furniture and vehicles24 | €3,037 | €2,095 | €1,997 | €1,500 | €570 | ▼ 62.0% |
| Other tangible fixed assets26 | €9,000 | €6,750 | €4,500 | €2,250 | - | - |
| Financial fixed assets28 | - | - | - | - | €205 | - |
| Current assets29/58 | €83,721 | €58,548 | €53,631 | €58,520 | €21,653 | ▼ 63.0% |
| Amounts receivable within one year40/41 | €66,664 | €43,845 | €50,312 | €49,344 | €5,781 | ▼ 88.3% |
| Trade receivables40 | €27,397 | €28,695 | €30,209 | €25,324 | €2,324 | ▼ 90.8% |
| Other amounts receivable41 | €39,266 | €15,151 | €20,103 | €24,020 | €3,457 | ▼ 85.6% |
| Cash at bank and in hand54/58 | €13,963 | €14,396 | €2,592 | €8,580 | €15,074 | ▲ 75.7% |
| Deferred charges and accrued income490/1 | €3,095 | €308 | €727 | €597 | €797 | ▲ 33.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €97,982 | €68,659 | €60,435 | €62,424 | €22,428 | ▼ 64.1% |
| Equity10/15 | €31,391 | €37,755 | €39,034 | €10,423 | €3,135 | ▼ 69.9% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €23,331 | €29,695 | €30,974 | €2,363 | -€4,925 | ▼ 308% |
| Amounts payable17/49 | €66,591 | €30,904 | €21,401 | €52,001 | €19,293 | ▼ 62.9% |
| Amounts payable within one year42/48 | €66,591 | €30,904 | €21,401 | €52,001 | €19,293 | ▼ 62.9% |
| Current portion of amounts payable after more than one year42 | €7,442 | €7,000 | €7,000 | - | - | - |
| Trade debts44 | €16,025 | €16,257 | €14,338 | €22,864 | €10,826 | ▼ 52.7% |
| Suppliers440/4 | €16,025 | €16,257 | €14,338 | €22,864 | €10,826 | ▼ 52.7% |
| Taxes, remuneration and social security45 | €3,124 | €7,647 | €63 | €4,137 | €8,467 | ▲ 105% |
| Taxes450/3 | €3,124 | €7,647 | €63 | €4,137 | €8,467 | ▲ 105% |
| Other amounts payable47/48 | €40,000 | - | - | €25,000 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €17,083 | €6,364 | €1,279 | -€3,612 | -€7,288 | ▼ 102% |
| + Depreciation and write-downs630 | €4,264 | €4,150 | €4,464 | €3,867 | €3,333 | ▼ 13.8% |
| Operating cash flow (approximation) | €21,348 | €10,514 | €5,743 | €255 | -€3,955 | ▼ 1,652% |
| Investment in fixed assets (approximation) | - | €0 | -€1,157 | -€966 | -€205 | ▲ 78.8% |
| Change in cash | - | €433 | -€11,803 | €5,987 | €6,495 | ▲ 8.5% |
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
30-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet -€7,288
Net result drops to -€7,288, the lowest in the series.
06-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
21-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
29-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 60 days late
2022
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
31-12
Financial
Highest result since 2018net €17,083 ▲507%
Operating result €21,112, net result €17,083, both a record.
26-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 26 days late
2020
07-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
24-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Amay · 1 establishment unit since 2015
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Rue du Parc Industriel 64540 Amay1 establishment unit
BE MACARONS
since 20152.243.235.163
Recognitions · licences · registrations
Food safety, FASFC
1 siteAmay2.243.235.163
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Of 4,228 companies in sector 10712 we hold annual accounts for 1,874. 470 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
Founded01-07-2015
Fiscal year end31-12
Activities, NACEBEL 2025
10712Artisanal bread and fresh pastry making
10720Manufacture of food products
47241Retail sale of bread and pastry (bakery outlets)
47242Retail sale of chocolate and confectionery
E-invoicing
Reachable via Peppol
Peppol ID
0208:0632930443
Also
9925:BE0632930443
Registered
27-11-2025
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.