IMMO MAES
ActiveSummary
IMMO MAES has been active since 1986 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €385,707 and a net result of -€21,245. Equity remains stable across the filed fiscal years (±1.4% per year). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability42▼-26
Solvency98▼-2
Growth55=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25,000 at 30 days acceptable
Liquidity short (current ratio 0.41 against 0.55 in 2024; short-term debt: 18.5% and cash: 1% of total assets), and 27.2% 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
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
18192022232425
2018 to 2025 · latest year -€21,245
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 10-07-2026, 21 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
21 d early
2024
29 d late
2023
53 d early
2022
52 d early
2021
32 d early
2020
50 d early
2019
52 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 33 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were 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 29 June (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
€41,012▲ 25.6%
2019 · €32,651
EBIT margin
-2.1%▼ 7.5pp
2019 · 5.4%
Net result
-€21,245▼ 338%
2024 · -€4,851
Working capital
-€57,902▼ 194%
2024 · -€19,722
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
Line20202022202320242025
Turnover€41,012▲ 25.6%
Operating result-€859€29,172-€23,734▼ 18.6%-€10,724-€21,173▼ 97.4%
Net result-€3,097€17,182-€17,807▲ 3.6%-€4,851-€21,245▼ 338%
EBIT margin-2.1%▼ 7.5pp
Equity€418,983▼ 0.7%€405,075-€394,883▼ 2.5%€390,032▼ 1.2%€385,707▼ 1.1%
Total assets€574,702▼ 4.0%€537,015-€517,928▼ 3.6%€500,258▼ 3.4%€529,454▲ 5.8%
Debt€67,928▼ 20.0%€57,362-€53,770▼ 6.3%€46,254▼ 14.0%€100,597▲ 117%
Working capital-€38,183▲ 25.8%-€22,776--€10,455▲ 54.1%-€19,722▼ 88.6%-€57,902▼ 194%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €21,173 in 2025 against €10,724 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 €529,454
Fixed assets
€489,384 ▲ 2.9%
Current assets
€40,070 ▲ 63.4%
Equity and liabilities €529,454
Equity
€385,707 ▼ 1.1%
Provisions
€43,151 ▼ 32.5%
Debt
€100,597 ▲ 117%
Debt's share of the balance-sheet total rises from 9.2% to 19.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€14,331▼
2024 · €18,968
Cash flow
€14,259▼
2024 · €24,841
Current ratio
0.41▼
2024 · 0.55
Debt to equity
0.26▲
2024 · 0.12
ROE
-5.5%▼
2024 · -1.2%
ROA
-4.0%▼
2024 · -1.0%
Interest coverage
3.41▼
2024 · 7.85
Debt ≤ 1 year
€97,972▲
2024 · €44,242
Income taxes
€80▲
2024 · -€2,757
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 8,611 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 94% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a small loss
0.4%
went bankrupt
5.1%
stopped otherwise
94%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.6% 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 497,340 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% | 1.8% |
| 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 8,611 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 | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €41,012 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €30,397 | €25,471 | €28,772 | €29,692 | €35,504 | ▲ 19.6% |
| Other operating charges640/8 | - | €270 | €109 | €1,727 | €2,565 | ▲ 48.5% |
| Gross operating margin9900 | €29,538 | €54,913 | €52,615 | €20,694 | €16,895 | ▼ 18.4% |
| Operating profit (loss)9901 | -€859 | €29,172 | €23,734 | -€10,724 | -€21,173 | ▼ 97.4% |
| Financial income75/76B | - | - | - | €231 | €311 | ▲ 34.7% |
| Recurring financial income75 | - | - | - | €231 | €311 | ▲ 34.7% |
| Financial charges65/66B | - | €1,293 | €1,230 | €2,418 | €4,204 | ▲ 73.9% |
| Recurring financial charges65 | €2,239 | €1,293 | €1,230 | €2,418 | €4,204 | ▲ 73.9% |
| Profit (loss) for the period before taxes9903 | -€3,098 | €27,879 | €22,504 | -€12,911 | -€25,066 | ▼ 94.1% |
| Transfer from deferred taxes780 | - | €5,303 | €5,303 | €5,303 | €3,901 | ▼ 26.4% |
| Income taxes67/77 | €4,000 | €16,000 | €10,000 | -€2,757 | €80 | ▲ 103% |
| Profit (loss) for the period9904 | -€3,097 | €17,182 | €17,807 | -€4,851 | -€21,245 | ▼ 338% |
| Transfer from tax-exempt reserves789 | - | €21,798 | €10,299 | €10,299 | €11,702 | ▲ 13.6% |
| Profit (loss) for the period to be appropriated9905 | €4,672 | €38,980 | €28,106 | €5,449 | -€9,543 | ▼ 275% |
| Line | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €574,702 | €537,015 | €517,928 | €500,258 | €529,454 | ▲ 5.8% |
| Fixed assets21/28 | €544,957 | €502,429 | €474,613 | €475,737 | €489,384 | ▲ 2.9% |
| Tangible fixed assets22/27 | €544,707 | €502,179 | €474,363 | €475,487 | €489,134 | ▲ 2.9% |
| Land and buildings22 | - | €499,883 | €471,876 | €473,765 | €487,888 | ▲ 3.0% |
| Furniture and vehicles24 | - | €2,296 | €2,487 | €1,722 | €1,246 | ▼ 27.6% |
| Financial fixed assets28 | €250 | €250 | €250 | €250 | €250 | = |
| Current assets29/58 | €29,745 | €34,586 | €43,315 | €24,521 | €40,070 | ▲ 63.4% |
| Amounts receivable within one year40/41 | €16,967 | €15,130 | €27,504 | €21,851 | €35,002 | ▲ 60.2% |
| Trade receivables40 | - | €15,130 | €17,504 | €21,851 | €35,002 | ▲ 60.2% |
| Other amounts receivable41 | - | - | €10,000 | - | - | - |
| Cash at bank and in hand54/58 | €12,778 | €19,456 | €15,811 | €2,669 | €5,068 | ▲ 89.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €574,702 | €537,015 | €517,928 | €500,258 | €529,454 | ▲ 5.8% |
| Equity10/15 | €418,983 | €405,075 | €394,883 | €390,032 | €385,707 | ▼ 1.1% |
| Contributions10/11 | €166,701 | €166,701 | €166,701 | €166,701 | €166,701 | = |
| Capital10 | - | €166,701 | €166,701 | €166,701 | €166,701 | = |
| Issued capital100 | - | €166,701 | €166,701 | €166,701 | €166,701 | = |
| Reserves13 | €187,163 | €161,504 | €151,205 | €140,906 | €228,548 | ▲ 62.2% |
| Non-distributable reserves130/1 | - | €16,670 | €16,670 | €16,670 | €16,670 | = |
| Legal reserve130 | - | €16,670 | €16,670 | €16,670 | €16,670 | = |
| Tax-exempt reserves132 | - | €144,834 | €134,535 | €124,235 | €129,453 | ▲ 4.2% |
| Distributable reserves133 | - | - | - | - | €82,425 | - |
| Profit (loss) carried forward14 | €65,119 | €76,870 | €76,977 | €82,425 | -€9,543 | ▼ 112% |
| Provisions and deferred taxes16 | €87,791 | €74,578 | €69,275 | €63,971 | €43,151 | ▼ 32.5% |
| Deferred taxes168 | - | €74,578 | €69,275 | €63,971 | €43,151 | ▼ 32.5% |
| Amounts payable17/49 | €67,928 | €57,362 | €53,770 | €46,254 | €100,597 | ▲ 117% |
| Amounts payable within one year42/48 | €67,928 | €57,362 | €53,770 | €44,242 | €97,972 | ▲ 121% |
| Current portion of amounts payable after more than one year42 | - | €40,000 | €40,710 | €41,296 | €40,000 | ▼ 3.1% |
| Trade debts44 | - | €1,106 | - | €38 | €4,090 | ▲ 10,610% |
| Suppliers440/4 | - | €1,106 | - | €38 | €4,090 | ▲ 10,610% |
| Taxes, remuneration and social security45 | - | €16,256 | €13,060 | €1,326 | €1,242 | ▼ 6.4% |
| Taxes450/3 | - | €16,256 | €13,060 | €1,326 | €1,242 | ▼ 6.4% |
| Other amounts payable47/48 | - | - | - | €1,582 | €52,640 | ▲ 3,228% |
| Accrued charges and deferred income492/3 | - | - | - | €2,012 | €2,625 | ▲ 30.5% |
| Line | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€3,097 | €17,182 | €17,807 | -€4,851 | -€21,245 | ▼ 338% |
| + Depreciation and write-downs630 | €30,397 | €25,471 | €28,772 | €29,692 | €35,504 | ▲ 19.6% |
| Operating cash flow (approximation) | €27,300 | €42,653 | €46,579 | €24,841 | €14,259 | ▼ 42.6% |
| Investment in fixed assets (approximation) | - | - | -€956 | -€30,816 | -€49,152 | ▼ 59.5% |
| Change in cash | - | - | -€3,645 | -€13,142 | €2,398 | ▲ 118% |
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
17-07
State Gazette act
Appointments: JOSEPHINA MAES FRANCOIS, LINDA MAES and 3 others7 facts ▸
State Gazette act
Appointments: JOSEPHINA MAES FRANCOIS, LINDA MAES and 3 others
7 facts ▸
- General meeting, 08-06-2026
- Director appointment, JOSEPHINA MAES FRANCOIS (director)
- Director appointment, LINDA MAES (director)
- Director appointment, LUCIEN MAES (managing director)
- Director appointment, MARLEEN MAES (director)
- Director appointment, HENRI MAES PATRICK (director)
- Other statement, voting, eenparigheid van stemmen
10-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Weakest financial yearnet -€21,245
Net result drops to -€21,245, the lowest in the series.
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 29 days late
2024
08-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Highest result since 2018net €17,807 ▲3.6%
Net result €17,807, the highest in the series.
09-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Back to profitnet €17,182
Net result €17,182 after one loss-making year.
29-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
11-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
09-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Back to profitnet €200
Net result €200 after one loss-making year.
Show earlier events
10-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
19-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
01-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 6 acts read
About the unread acts
Of the 6 Belgian State Gazette acts we know for this company, 1 has been read. The other 5 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
under verification, last change in 2026
This board is reconstructed from a single act (26092788). A Gazette act generally publishes only CHANGES, not a full roll call, so directors unchanged since then may be missing here. The KBO register holds the complete list of function holders.
Board 4
HENRI MAES PATRICK
CurrentDirector · since 17-07-2026
JOSEPHINA MAES FRANCOIS
CurrentDirector · since 17-07-2026
LINDA MAES
CurrentDirector · since 17-07-2026
MARLEEN MAES
CurrentDirector · since 17-07-2026
Day-to-day management 1
LUCIEN MAES
CurrentManaging director · since 17-07-2026
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
5 of this company's 6 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Berlaar · 1 establishment unit since 1986
Ground area
2,549 m²
Building footprint
403 m²
Volume, LiDAR
2,448 m³
2 parcels, Flanders · tallest building 9.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
IMMO MAES
since 19862.033.382.393
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12002A0308/00D002 | Flanders | 1,519 m² | 1 · 187 m² | 8.8 m · 2 fl. |
| 11009M0066/00P008 | Flanders | 1,030 m² | 1 · 215 m² | 9.7 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.
Mandate history
5 people since 2026, 5 in office
- Board
- Day-to-day management
| Name | Functions and periods |
|---|---|
| HENRI MAES PATRICK |
|
| JOSEPHINA MAES FRANCOIS |
|
| LINDA MAES |
|
| MARLEEN MAES |
|
| LUCIEN MAES |
|
Articles of association
Other provisions
Tom Van beek
Structure & network
Connections & network
5 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
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Shareholding
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Identification & contact
Identification
Legal formPublic limited company
Founded26-03-1986
Fiscal year end31-12
Abbreviation NL
IMMA
Contact
E-mail
arthurderooy@hotmail.comBrecht
Phone
03/568.82.22Brecht
E-invoicing
Reachable via Peppol
Peppol ID
0208:0428706544
Also
9925:BE0428706544
Registered
17-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.