BERT MAES
ActiveSummary
BERT MAES has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €9.2m and a net result of €1.5m. Equity is growing by ~26.7% per year across the filed fiscal years. Its solvency ranks better than 81% of 4926 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability71▼-9
Solvency100▲+3
Growth78▼-1
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €700,000 at 30 days acceptable
Liquidity ample (current ratio 2.82 against 2.95 in 2024; short-term debt: 24.1% and cash: 16.1% of total assets), and 25.4% of the assets are financed with debt.
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Signals
Five 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
74.6%
Return on assets
12.3%
Age of the figures
18 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Filed after the deadline
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 14-11-2025, 14 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
14 d late
2024
19 d late
2023
48 d late
2022
25 d late
2021
30 d late
2020
30 d late
2019
29 d late
← 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 28 days after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close27-09-2026 today31-10-2026 deadline
History
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Financials · fiscal year 2025, full schema
In the rankings
#3 employer in Tielt, Wholesale and retail trade sector#3 fastest grower in Tielt, Wholesale and retail trade sector
Turnover
€45.7m▲ 6.8%
2024 · €42.8m
EBIT margin
4.6%▼ 2.2pp
2024 · 6.8%
Net result
€1.5m▼ 30.4%
2024 · €2.2m
Working capital
€5.4m▲ 13.8%
2024 · €4.7m
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€27.4m▲ 11.3%€30.1m▲ 9.9%€38.7m▲ 28.7%€42.8m▲ 10.5%€45.7m▲ 6.8%
Operating result€2.0m▲ 173%€1.2m▼ 41.6%€1.6m▲ 40.9%€2.9m▲ 77.3%€2.1m▼ 27.8%
Net result€1.5m▲ 196%€864,551▼ 41.3%€1.2m▲ 39.9%€2.2m▲ 80.0%€1.5m▼ 30.4%
EBIT margin7.3%▲ 4.3pp3.9%▼ 3.4pp4.2%▲ 0.4pp6.8%▲ 2.6pp4.6%▼ 2.2pp
Equity€4.2m▲ 54.5%€5.0m▲ 20.7%€5.5m▲ 9.1%€7.7m▲ 39.6%€9.2m▲ 19.8%
Total assets€8.2m▲ 20.2%€8.5m▲ 3.3%€9.9m▲ 16.3%€10.7m▲ 8.7%€12.3m▲ 14.9%
Debt€4.0m▼ 2.3%€3.4m▼ 14.8%€4.4m▲ 26.9%€3.0m▼ 30.2%€3.1m▲ 2.7%
Working capital€1.9m▲ 62.0%€2.7m▲ 38.9%€3.0m▲ 12.2%€4.7m▲ 58.5%€5.4m▲ 13.8%
Staff (FTE)49.4▲ 11.0%46.6▼ 5.7%47.2▲ 1.3%52.5▲ 11.2%55.6▲ 5.9%
Why a figure moved sharply
- 2024 Net result +80% on 2023. Cause not known from the registers.
- 2021 Net result +196%, Equity +54% on 2020. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 28% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €12.3m
Fixed assets
€3.9m ▲ 11.4%
Current assets
€8.4m ▲ 16.6%
Equity and liabilities €12.3m
Equity
€9.2m ▲ 19.8%
Debt
€3.1m ▲ 2.7%
Debt's share of the balance-sheet total falls from 28.4% to 25.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€2.7m▼
2024 · €3.4m
Cash flow
€2.2m▼
2024 · €2.7m
Current ratio
2.82▼
2024 · 2.95
Quick ratio
2.47▼
2024 · 2.58
Debt to equity
0.34▼
2024 · 0.40
ROE
16.5%▼
2024 · 28.4%
ROA
12.3%▼
2024 · 20.3%
Interest coverage
313.03▲
2024 · 230.90
Debt ≤ 1 year
€3.0m▲
2024 · €2.4m
Debt > 1 year
€148,815▼
2024 · €604,871
Income taxes
€532,729▼
2024 · €732,954
Staff costs
€3.5m▲
2024 · €3.2m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,552 companies that looked in July 2024 the way this one looks now, 0.1% went bankrupt within 24 months and 97% are still going.
- Medium-sized
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.1%
went bankrupt
3.2%
stopped otherwise
97%
still going
For this company itself Checked computes a higher bankruptcy probability: 0.5% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 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% | 1.6% |
| 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 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 1,552 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 |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | €30.2m | €38.9m | €42.9m | €45.8m | ▲ 6.8% |
| Turnover70 | €27.4m | €30.1m | €38.7m | €42.8m | €45.7m | ▲ 6.8% |
| Other operating income74 | - | €137,784 | €165,368 | €175,977 | €173,108 | ▼ 1.6% |
| Non-recurring operating income76A | - | - | - | - | €8,000 | - |
| Operating charges60/66A | - | €29.1m | €37.2m | €40.0m | €43.8m | ▲ 9.3% |
| Goods for resale, raw materials and consumables60 | - | €24.2m | €31.5m | €33.6m | €36.7m | ▲ 9.0% |
| Purchases600/8 | - | €24.9m | €31.5m | €33.4m | €36.8m | ▲ 10.2% |
| Change in stocks: decrease (increase)609 | - | -€693,528 | -€44,379 | €248,779 | -€124,370 | ▼ 150% |
| Services and other goods61 | - | €1.9m | €2.6m | €2.7m | €2.9m | ▲ 9.7% |
| Remuneration, social security and pensions62 | - | €2.4m | €2.6m | €3.2m | €3.5m | ▲ 8.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €572,512 | €528,147 | €552,650 | €506,927 | €651,114 | ▲ 28.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €3,874 | €8,169 | €20,598 | €11,590 | ▼ 43.7% |
| Other operating charges640/8 | - | €39,855 | €43,366 | €44,591 | €57,255 | ▲ 28.4% |
| Operating profit (loss)9901 | €2.0m | €1.2m | €1.6m | €2.9m | €2.1m | ▼ 27.8% |
| Financial income75/76B | - | €22,190 | €20,830 | €27,910 | €25,738 | ▼ 7.8% |
| Recurring financial income75 | €15,350 | €22,190 | €20,830 | €27,910 | €25,738 | ▼ 7.8% |
| Income from current assets751 | - | €0 | €1 | €0 | €961 | ▲ 4,805,100% |
| Other financial income752/9 | - | €22,190 | €20,829 | €27,910 | €24,777 | ▼ 11.2% |
| Financial charges65/66B | - | €27,420 | €21,492 | €24,088 | €73,821 | ▲ 206% |
| Recurring financial charges65 | €38,426 | €27,420 | €21,492 | €24,088 | €73,821 | ▲ 206% |
| Debt charges650 | €35,070 | €23,682 | €17,546 | €14,784 | €8,780 | ▼ 40.6% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651 | - | - | - | - | €60,564 | - |
| Other financial charges652/9 | - | €3,738 | €3,946 | €9,304 | €4,477 | ▼ 51.9% |
| Profit (loss) for the period before taxes9903 | €2.0m | €1.2m | €1.6m | €2.9m | €2.0m | ▼ 29.6% |
| Income taxes67/77 | €494,881 | €293,341 | €428,850 | €732,954 | €532,729 | ▼ 27.3% |
| Taxes670/3 | - | €293,341 | €428,850 | €732,954 | €532,729 | ▼ 27.3% |
| Profit (loss) for the period9904 | €1.5m | €864,551 | €1.2m | €2.2m | €1.5m | ▼ 30.4% |
| Profit (loss) for the period to be appropriated9905 | €1.5m | €864,551 | €1.2m | €2.2m | €1.5m | ▼ 30.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €8.2m | €8.5m | €9.9m | €10.7m | €12.3m | ▲ 14.9% |
| Fixed assets21/28 | €3.9m | €3.6m | €3.5m | €3.5m | €3.9m | ▲ 11.4% |
| Intangible fixed assets21 | - | - | - | €10,600 | €8,200 | ▼ 22.6% |
| Tangible fixed assets22/27 | €3.9m | €3.6m | €3.5m | €3.5m | €3.9m | ▲ 11.5% |
| Land and buildings22 | - | €2.7m | €2.6m | €2.4m | €2.4m | ▼ 1.3% |
| Plant, machinery and equipment23 | - | €359,830 | €369,990 | €657,521 | €816,637 | ▲ 24.2% |
| Furniture and vehicles24 | - | €512,443 | €513,036 | €439,980 | €719,048 | ▲ 63.4% |
| Financial fixed assets28 | €270 | €135 | €135 | €135 | €405 | ▲ 200% |
| Other financial fixed assets284/8 | - | €135 | €135 | €135 | €405 | ▲ 200% |
| Amounts receivable and cash guarantees285/8 | - | €135 | €135 | €135 | €405 | ▲ 200% |
| Current assets29/58 | €4.3m | €4.9m | €6.4m | €7.2m | €8.4m | ▲ 16.6% |
| Stocks and contracts in progress3 | €421,371 | €1.1m | €1.2m | €910,498 | €1.0m | ▲ 13.7% |
| Stocks30/36 | - | €1.1m | €1.2m | €910,498 | €1.0m | ▲ 13.7% |
| Raw materials and consumables30/31 | - | €1.1m | €1.2m | €910,498 | €1.0m | ▲ 13.7% |
| Amounts receivable within one year40/41 | €2.1m | €2.7m | €3.2m | €3.8m | €3.6m | ▼ 4.8% |
| Trade receivables40 | - | €2.5m | €3.1m | €3.6m | €3.4m | ▼ 5.0% |
| Other amounts receivable41 | - | €164,345 | €149,170 | €214,473 | €214,757 | ▲ 0.1% |
| Current investments50/53 | - | - | - | €466,667 | €1.7m | ▲ 262% |
| Other investments51/53 | - | - | - | €466,667 | €1.7m | ▲ 262% |
| Cash at bank and in hand54/58 | €1.7m | €1.1m | €2.0m | €2.0m | €2.0m | ▲ 0.2% |
| Deferred charges and accrued income490/1 | - | €27,388 | €36,604 | €30,374 | €55,344 | ▲ 82.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €8.2m | €8.5m | €9.9m | €10.7m | €12.3m | ▲ 14.9% |
| Equity10/15 | €4.2m | €5.0m | €5.5m | €7.7m | €9.2m | ▲ 19.8% |
| Contributions10/11 | - | €368,500 | €368,500 | €368,500 | €368,500 | = |
| Reserves13 | €3.8m | €4.7m | €5.1m | €7.3m | €8.8m | ▲ 20.7% |
| Distributable reserves133 | - | €4.7m | €5.1m | €7.3m | €8.8m | ▲ 20.7% |
| Amounts payable17/49 | €4.0m | €3.4m | €4.4m | €3.0m | €3.1m | ▲ 2.7% |
| Amounts payable after more than one year17 | €1.7m | €1.2m | €941,046 | €604,871 | €148,815 | ▼ 75.4% |
| Financial debts170/4 | - | €1.2m | €941,046 | €604,871 | €148,815 | ▼ 75.4% |
| Credit institutions173 | - | €1.2m | €941,046 | €604,871 | €148,815 | ▼ 75.4% |
| Amounts payable within one year42/48 | €2.3m | €2.2m | €3.4m | €2.4m | €3.0m | ▲ 22.1% |
| Current portion of amounts payable after more than one year42 | - | €467,847 | €420,753 | €322,842 | €122,723 | ▼ 62.0% |
| Trade debts44 | €1.0m | €1.2m | €1.5m | €1.4m | €2.2m | ▲ 56.1% |
| Suppliers440/4 | - | €1.2m | €1.5m | €1.4m | €2.2m | ▲ 56.1% |
| Taxes, remuneration and social security45 | - | €373,243 | €573,990 | €534,178 | €463,789 | ▼ 13.2% |
| Taxes450/3 | - | €63,161 | €159,595 | €47,549 | €10,647 | ▼ 77.6% |
| Remuneration and social security454/9 | - | €310,081 | €414,395 | €486,629 | €453,143 | ▼ 6.9% |
| Other amounts payable47/48 | - | €148,699 | €924,321 | €191,592 | €223,601 | ▲ 16.7% |
| Accrued charges and deferred income492/3 | - | €13,399 | €8,484 | €8,426 | €8,367 | ▼ 0.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1.5m | €864,551 | €1.2m | €2.2m | €1.5m | ▼ 30.4% |
| + Depreciation and write-downs630 | €572,512 | €528,147 | €552,650 | €506,927 | €651,114 | ▲ 28.4% |
| Operating cash flow (approximation) | €2.0m | €1.4m | €1.8m | €2.7m | €2.2m | ▼ 19.3% |
| Investment in fixed assets (approximation) | - | -€171,342 | -€422,975 | -€594,723 | -€1.1m | ▼ 77.3% |
| Change in cash | - | -€631,610 | €908,806 | €12,125 | €3,175 | ▼ 73.8% |
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
2025
14-11
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 14 days late
2024
19-11
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 19 days late
31-03
Financial
Highest result since 2019net €2.2m ▲80%
Operating result €2.9m, net result €2.2m, both a record.
2023
18-12
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 48 days late
2022
25-11
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 25 days late
31-03
Financial
Equity above €5mEq €5.0m ▲20.7%
4 profitable years in a row build equity to €5.0m.
2021
30-11
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 30 days late
2020
30-11
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 30 days late
2019
29-11
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 29 days late
2018
09-11
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 9 days late
2017
03-11
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 3 days late
2016
14-10
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 10 acts read
About the unread acts
We know of 10 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
10 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, Tielt · 2 establishment units since 2002
Ground area
5,449 m²
Building footprint
2,639 m²
Volume, LiDAR
18,983 m³
2 parcels, Flanders · tallest building 10.4 m, ±3 floors. Linked by address, not a title deed.
2 establishment units
BERT MAES BVBA
since 20022.114.355.421
BVBA Bert Maes
since 20132.220.761.748
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 37322B0441/00R000 | Flanders | 2,977 m² | 1 · 1,602 m² | 10.3 m · 3 fl. |
| 37322C0418/00M000 | Flanders | 2,472 m² | 1 · 1,037 m² | 7.3 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 5 entries · 33,893 EUR awarded · 1,983 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 32,255 EUR | 429 EUR |
| 2024 | 1 | 1,143 EUR | 1,059 EUR |
| 2023 | 1 | 396 EUR | 396 EUR |
| 2022 | 1 | 99 EUR | 99 EUR |
Recognitions · licences · registrations
Food safety, FASFC
2 sitesTielt2.220.761.748
Tielt2.114.355.421
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Of 184 companies in sector 46322 we hold annual accounts for 132. 34 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
Founded01-07-2002
Fiscal year end31-03
Activities, NACEBEL 2025
46322Wholesale trade
10111Manufacture of food products
10120Manufacture of food products
46321Wholesale of meat and meat products, excluding game and poultry
E-invoicing
Reachable via Peppol
Peppol ID
0208:0477869312
Registered
20-11-2020
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.