IMMO MAES
ActiveSummary
IMMO MAES has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€152,405) and a net result of €8,117. Equity remains stable across the filed fiscal years (±1.2% per year). Its solvency ranks better than 5% of 14284 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+17
Solvency0=
Growth58=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.08 against 0.15 in 2024; cash: 53.7% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer 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
Return on assets
56%
Age of the figures
9 mo
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 · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 14284 sector peers (2025).
NBB · sector comparisonPosition among 14284 sector peers
Solvency
better than 5%
← 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 04-06-2026, 57 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
57 d early
2024
76 d early
2023
65 d early
2022
67 d early
2021
52 d early
2020
80 d early
2019
36 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 62 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% 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 28 May (5 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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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
-€152,405▲ 5.1%
2024 · -€160,522
Total assets
€14,502▼ 51.8%
2024 · €30,098
Net result
€8,117▲ 144%
2024 · €3,321
Working capital
-€154,197▲ 5.3%
2024 · -€162,863
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€16,636€10,778▼ 35.2%€1,882▼ 82.5%€3,763▲ 100.0%€8,450▲ 125%
Net result€15,308within the sector's middle half€10,922within the sector's middle half▼ 28.6%€1,554within the sector's middle half▼ 85.8%€3,321within the sector's middle half▲ 114%€8,117within the sector's middle half▲ 144%
Equity-€176,319below the sector's middle half▲ 8.0%-€165,396below the sector's middle half▲ 6.2%-€163,843below the sector's middle half▲ 0.9%-€160,522below the sector's middle half▲ 2.0%-€152,405below the sector's middle half▲ 5.1%
Total assets€58,951below the sector's middle half▲ 8.8%€39,786below the sector's middle half▼ 32.5%€43,254below the sector's middle half▲ 8.7%€30,098below the sector's middle half▼ 30.4%€14,502below the sector's middle half▼ 51.8%
Debt€235,269▼ 4.3%€205,183▼ 12.8%€207,096▲ 0.9%€190,620▼ 8.0%€166,907▼ 12.4%
Working capital-€176,819below the sector's middle half▲ 10.9%-€166,522below the sector's middle half▲ 5.8%-€167,003below the sector's middle half▼ 0.3%-€162,863below the sector's middle half▲ 2.5%-€154,197below the sector's middle half▲ 5.3%
Solvency-299.1%below the sector's middle half▲ 54.6pp-415.7%below the sector's middle half▼ 116.6pp-378.8%below the sector's middle half▲ 36.9pp-533.3%below the sector's middle half▼ 154.5pp
Current ratio0.25below the sector's middle half▲ 0.070.19below the sector's middle half▼ 0.060.19below the sector's middle half▲ 0.010.15below the sector's middle half▼ 0.050.08below the sector's middle half▼ 0.07
Return on assets (ROA)26.0%above the sector's middle half▲ 108.5pp27.5%above the sector's middle half▲ 1.5pp3.6%within the sector's middle half▼ 23.9pp11.0%above the sector's middle half▲ 7.4pp56.0%above the sector's middle half▲ 44.9pp
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, 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
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 125% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €14,502
Fixed assets
€1,792 ▼ 23.5%
Current assets
€12,710 ▼ 54.2%
Key figures and ratios
EBITDA
€8,999▲
2024 · €4,582
Cash flow
€8,666▲
2024 · €4,140
Debt to equity
-1.10▲
2024 · -1.19
Interest coverage
52.41▲
2024 · 15.22
Debt ≤ 1 year
€166,907▼
2024 · €190,620
Income taxes
€161▲
2024 · €141
A ratio outside any meaningful range has been withheld (balance sheet total €14,502, equity -€152,405).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,632 companies that looked in July 2024 the way this one looks now, 2.9% went bankrupt within 24 months and 92% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a profit of 5% of the balance sheet or more
2.9%
went bankrupt
4.8%
stopped otherwise
92%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.4% 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 497,340 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 3,632 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 | €11,992 | €270 | €576 | €819 | €549 | ▼ 33.0% |
| Other operating charges640/8 | €990 | €996 | €1,498 | €938 | €947 | ▲ 0.9% |
| Non-recurring operating charges66A | €775 | - | - | - | - | - |
| Gross operating margin9900 | €30,392 | €12,044 | €3,955 | €5,520 | €9,946 | ▲ 80.2% |
| Operating profit (loss)9901 | €16,636 | €10,778 | €1,882 | €3,763 | €8,450 | ▲ 125% |
| Financial income75/76B | - | €790 | €1 | - | - | - |
| Recurring financial income75 | - | €790 | €1 | - | - | - |
| Financial charges65/66B | €1,177 | €506 | €194 | €301 | €172 | ▼ 43.0% |
| Recurring financial charges65 | €1,177 | €506 | €194 | €301 | €172 | ▼ 43.0% |
| Profit (loss) for the period before taxes9903 | €15,459 | €11,062 | €1,688 | €3,462 | €8,278 | ▲ 139% |
| Income taxes67/77 | €151 | €139 | €135 | €141 | €161 | ▲ 14.7% |
| Profit (loss) for the period9904 | €15,308 | €10,922 | €1,554 | €3,321 | €8,117 | ▲ 144% |
| Profit (loss) for the period to be appropriated9905 | €15,308 | €10,922 | €1,554 | €3,321 | €8,117 | ▲ 144% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €58,951 | €39,786 | €43,254 | €30,098 | €14,502 | ▼ 51.8% |
| Fixed assets21/28 | €500 | €1,126 | €3,161 | €2,342 | €1,792 | ▼ 23.5% |
| Tangible fixed assets22/27 | - | €626 | €2,661 | €1,842 | €1,292 | ▼ 29.8% |
| Land and buildings22 | - | - | €1,377 | €1,227 | €1,077 | ▼ 12.2% |
| Furniture and vehicles24 | - | €626 | €1,284 | €615 | €215 | ▼ 65.0% |
| Financial fixed assets28 | €500 | €500 | €500 | €500 | €500 | = |
| Current assets29/58 | €58,451 | €38,661 | €40,093 | €27,756 | €12,710 | ▼ 54.2% |
| Amounts receivable within one year40/41 | €39,830 | €34,912 | €10,315 | €3,815 | €3,815 | = |
| Trade receivables40 | €36,015 | €31,097 | €6,500 | - | - | - |
| Other amounts receivable41 | €3,815 | €3,815 | €3,815 | €3,815 | €3,815 | = |
| Cash at bank and in hand54/58 | €16,930 | €2,271 | €28,180 | €22,570 | €7,791 | ▼ 65.5% |
| Deferred charges and accrued income490/1 | €1,690 | €1,478 | €1,598 | €1,371 | €1,104 | ▼ 19.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €58,951 | €39,786 | €43,254 | €30,098 | €14,502 | ▼ 51.8% |
| Equity10/15 | -€176,319 | -€165,396 | -€163,843 | -€160,522 | -€152,405 | ▲ 5.1% |
| Contributions10/11 | €50,000 | €50,000 | €50,000 | €50,000 | €50,000 | = |
| Reserves13 | €31,532 | €31,532 | €31,532 | €31,532 | €31,532 | = |
| Non-distributable reserves130/1 | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Reserves not available under the articles1311 | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Distributable reserves133 | €26,532 | €26,532 | €26,532 | €26,532 | €26,532 | = |
| Profit (loss) carried forward14 | -€257,851 | -€246,928 | -€245,375 | -€242,054 | -€233,937 | ▲ 3.4% |
| Amounts payable17/49 | €235,269 | €205,183 | €207,096 | €190,620 | €166,907 | ▼ 12.4% |
| Amounts payable within one year42/48 | €235,269 | €205,183 | €207,096 | €190,620 | €166,907 | ▼ 12.4% |
| Current portion of amounts payable after more than one year42 | €5,586 | - | - | - | - | - |
| Trade debts44 | - | - | €1,199 | €472 | €3,041 | ▲ 544% |
| Suppliers440/4 | - | - | €1,199 | €472 | €3,041 | ▲ 544% |
| Taxes, remuneration and social security45 | €8,966 | €4,511 | €7,912 | €10,062 | €5,194 | ▼ 48.4% |
| Taxes450/3 | €8,966 | €4,511 | €7,912 | €10,062 | €5,194 | ▼ 48.4% |
| Other amounts payable47/48 | €220,717 | €200,672 | €197,985 | €180,085 | €158,672 | ▼ 11.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €15,308 | €10,922 | €1,554 | €3,321 | €8,117 | ▲ 144% |
| + Depreciation and write-downs630 | €11,992 | €270 | €576 | €819 | €549 | ▼ 33.0% |
| Operating cash flow (approximation) | €27,300 | €11,192 | €2,129 | €4,140 | €8,666 | ▲ 109% |
| Investment in fixed assets (approximation) | - | -€896 | -€2,611 | €0 | €0 | - |
| Change in cash | - | -€14,659 | €25,909 | -€5,610 | -€14,779 | ▼ 163% |
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
04-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
16-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
27-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
25-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
09-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €15,308
Net result €15,308 after 3 loss-making years.
12-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
25-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
11-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
21-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
06-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Maasmechelen · 1 establishment unit since 2007
Ground area
2,738 m²
Building footprint
250 m²
Volume, LiDAR
1,569 m³
Parcel 73048B1122/00K000, Flanders · tallest building 9.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Immo Maes
since 20072.164.679.021
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 73048B1122/00K000 | Flanders | 2,738 m² | 1 · 250 m² | 9.9 m · 2 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.
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 9,696 companies in sector 68121 we hold annual accounts for 7,393. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded19-06-2007
Fiscal year end31-12
Activities, NACEBEL 2025
68121Development of residential building projects
68122Development of non-residential building projects
46190Agents in non-specialised wholesale trade
E-invoicing
Reachable via Peppol
Peppol ID
0208:0890247984
Also
9925:BE0890247984
Registered
30-01-2025
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.