IR. C. MAENHOUT
ActiveSummary
IR. C. MAENHOUT has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals. The 2026 annual accounts show equity of €354,095 and a net result of -€19,722. Equity is growing by ~3.7% per year across the filed fiscal years. Its solvency ranks better than 68% of 168 sector peers (fiscal year 2026). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2026
Axes · tick = 2025
Profitability63▼-4
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €30,000 at 30 days acceptable
Liquidity ample (current ratio 4.53 against 5.11 in 2025; short-term debt: 12.3% and cash: 51.4% of total assets), and 18.3% 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 · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 69
Relative position
BE, all sectors
reference
Legal and accounting activities (NACE 69)
about 77% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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 (2025 and 2026); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2026Net result per financial year
1920212223242526
2019 to 2026 · latest year -€19,722
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2026 was due by 31-10-2026 and was filed on 29-09-2026, 32 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2026
32 d early
2025
96 d late
2024
28 d early
2023
1 d early
2022
17 d early
2021
25 d early
2020
27 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 3 days after the deadline; the sector median for financial year 2024 is 9 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 31-03-2027 and is due by 31-10-2027. Nothing is late today. Usually files around 14 October (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-03-2027 close31-10-2027 deadline
History
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Financials · fiscal year 2026, micro schema
Equity
€354,095▼ 14.2%
2025 · €412,817
Total assets
€433,349▼ 5.1%
2025 · €456,398
Net result
-€19,722▼ 220%
2025 · -€6,156
Working capital
€188,287▲ 5.0%
2025 · €179,283
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 69, Legal and accounting 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
Line20222023202420252026
Operating result€59,589▲ 3.5%€46,500▼ 22.0%€50,392▲ 8.4%-€2,155-€16,939▼ 686%
Net result€38,675within the sector's middle half▼ 1.2%€28,303within the sector's middle half▼ 26.8%€30,512within the sector's middle half▲ 7.8%-€6,156below the sector's middle half-€19,722▼ 220%
Equity€433,224above the sector's middle half▲ 9.8%€461,527above the sector's middle half▲ 6.5%€448,972above the sector's middle half▼ 2.7%€412,817above the sector's middle half▼ 8.1%€354,095▼ 14.2%
Total assets€501,958within the sector's middle half▲ 3.2%€500,843above the sector's middle half▼ 0.2%€540,030above the sector's middle half▲ 7.8%€456,398within the sector's middle half▼ 15.5%€433,349▼ 5.1%
Debt€68,735▼ 25.3%€39,316▼ 42.8%€91,057▲ 132%€43,581▼ 52.1%€79,253▲ 81.9%
Working capital€133,398within the sector's middle half▼ 7.2%€163,665within the sector's middle half▲ 22.7%€201,411above the sector's middle half▲ 23.1%€179,283above the sector's middle half▼ 11.0%€188,287▲ 5.0%
Solvency86.3%above the sector's middle half▲ 5.2pp92.2%above the sector's middle half▲ 5.8pp83.1%above the sector's middle half▼ 9.0pp90.5%above the sector's middle half▲ 7.3pp81.7%▼ 8.7pp
Current ratio4.19within the sector's middle half▲ 0.875.16above the sector's middle half▲ 0.973.94within the sector's middle half▼ 1.225.11above the sector's middle half▲ 1.174.53▼ 0.58
Return on assets (ROA)7.7%within the sector's middle half▼ 0.3pp5.7%within the sector's middle half▼ 2.1pp5.7%below the sector's middle half=-1.3%below the sector's middle half▼ 7.0pp-4.6%▼ 3.2pp
above
within
below
the middle half (P25 to P75) of NACE 69, Legal and accounting 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
The operating result stays negative: a loss of €16,939 in 2026 against €2,155 in 2025; the loss grows and 2026 has the lowest result in the available series.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €432,598
Fixed assets
€190,997 ▼ 18.0%
Current assets
€241,601 ▲ 8.4%
Equity and liabilities €433,349
Equity
€354,095 ▼ 14.2%
Debt
€79,253 ▲ 81.9%
Debt's share of the balance-sheet total rises from 9.5% to 18.3%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€15,505▼
2025 · €38,983
Cash flow
€12,723▼
2025 · €34,982
Debt to equity
0.22▲
2025 · 0.11
ROE
-5.6%▼
2025 · -1.5%
Interest coverage
29.21▼
2025 · 395.20
Debt ≤ 1 year
€53,314▲
2025 · €43,581
Income taxes
€2,346▼
2025 · €3,902
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 12,321 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 90% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
0.7%
went bankrupt
8.6%
stopped otherwise
90%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.1% 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 12,321 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 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €40,072 | €44,154 | €45,365 | €41,138 | €32,444 | ▼ 21.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €7,379 | - |
| Other operating charges640/8 | €1,403 | €2,257 | €1,939 | €2,151 | €1,242 | ▼ 42.3% |
| Non-recurring operating charges66A | €679 | €11,455 | €0 | - | €15,334 | - |
| Gross operating margin9900 | €101,743 | €104,366 | €97,696 | €41,134 | €39,460 | ▼ 4.1% |
| Operating profit (loss)9901 | €59,589 | €46,500 | €50,392 | -€2,155 | -€16,939 | ▼ 686% |
| Financial income75/76B | €0 | €30 | €0 | €0 | €95 | - |
| Recurring financial income75 | €0 | €30 | €0 | €0 | €95 | - |
| Financial charges65/66B | €1,187 | €660 | €618 | €99 | €531 | ▲ 438% |
| Recurring financial charges65 | €1,187 | €660 | €618 | €99 | €531 | ▲ 438% |
| Profit (loss) for the period before taxes9903 | €58,402 | €45,871 | €49,774 | -€2,254 | -€17,375 | ▼ 671% |
| Income taxes67/77 | €19,727 | €17,568 | €19,262 | €3,902 | €2,346 | ▼ 39.9% |
| Profit (loss) for the period9904 | €38,675 | €28,303 | €30,512 | -€6,156 | -€19,722 | ▼ 220% |
| Profit (loss) for the period to be appropriated9905 | €38,675 | €28,303 | €30,512 | -€6,156 | -€19,722 | ▼ 220% |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €501,958 | €500,843 | €540,030 | €456,398 | €433,349 | ▼ 5.1% |
| Formation expenses20 | €751 | €751 | €751 | €751 | €751 | = |
| Fixed assets21/28 | €325,972 | €297,111 | €269,340 | €232,783 | €190,997 | ▼ 18.0% |
| Tangible fixed assets22/27 | €325,922 | €297,061 | €269,290 | €232,733 | €190,947 | ▼ 18.0% |
| Land and buildings22 | €15,600 | €14,145 | €12,689 | €11,234 | €9,778 | ▼ 13.0% |
| Plant, machinery and equipment23 | €102,151 | €98,261 | €87,339 | €74,760 | €64,967 | ▼ 13.1% |
| Furniture and vehicles24 | €185,208 | €171,209 | €165,332 | €146,739 | €116,202 | ▼ 20.8% |
| Other tangible fixed assets26 | €22,963 | €13,447 | €3,930 | €0 | €0 | ▼ 100% |
| Financial fixed assets28 | €50 | €50 | €50 | €50 | €50 | = |
| Current assets29/58 | €175,235 | €202,981 | €269,939 | €222,865 | €241,601 | ▲ 8.4% |
| Amounts receivable within one year40/41 | €2,794 | €37,624 | €36,730 | €12,511 | €15,301 | ▲ 22.3% |
| Trade receivables40 | - | €9,155 | €2,521 | €6,285 | €1,550 | ▼ 75.3% |
| Other amounts receivable41 | €2,794 | €28,469 | €34,210 | €6,227 | €13,752 | ▲ 121% |
| Cash at bank and in hand54/58 | €170,565 | €159,989 | €226,635 | €208,198 | €222,654 | ▲ 6.9% |
| Deferred charges and accrued income490/1 | €1,877 | €5,368 | €6,574 | €2,155 | €3,646 | ▲ 69.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €501,958 | €500,843 | €540,030 | €456,398 | €433,349 | ▼ 5.1% |
| Equity10/15 | €433,224 | €461,527 | €448,972 | €412,817 | €354,095 | ▼ 14.2% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €402,029 | €430,029 | €416,962 | €386,962 | €334,095 | ▼ 13.7% |
| Non-distributable reserves130/1 | €2,000 | €2,000 | €0 | - | - | - |
| Reserves not available under the articles1311 | €2,000 | €2,000 | €0 | - | - | - |
| Distributable reserves133 | €400,029 | €428,029 | €416,962 | €386,962 | €334,095 | ▼ 13.7% |
| Profit (loss) carried forward14 | €11,195 | €11,498 | €12,010 | €5,854 | €0 | ▼ 100% |
| Amounts payable17/49 | €68,735 | €39,316 | €91,057 | €43,581 | €79,253 | ▲ 81.9% |
| Amounts payable after more than one year17 | €897 | €0 | - | - | - | - |
| Financial debts170/4 | €897 | €0 | - | - | - | - |
| Amounts payable within one year42/48 | €41,837 | €39,316 | €68,528 | €43,581 | €53,314 | ▲ 22.3% |
| Current portion of amounts payable after more than one year42 | €36,752 | €15,937 | €7,550 | €6,721 | €3,767 | ▼ 44.0% |
| Trade debts44 | €3,469 | €9,160 | €485 | €2,190 | €3,678 | ▲ 67.9% |
| Suppliers440/4 | €3,469 | €9,160 | €485 | €2,190 | €3,678 | ▲ 67.9% |
| Taxes, remuneration and social security45 | €1,416 | €14,019 | €19,380 | €5,970 | €7,226 | ▲ 21.0% |
| Taxes450/3 | €1,416 | €14,019 | €19,380 | €5,970 | €7,226 | ▲ 21.0% |
| Other amounts payable47/48 | €200 | €200 | €41,113 | €28,700 | €38,644 | ▲ 34.6% |
| Accrued charges and deferred income492/3 | €26,000 | €0 | €22,529 | €0 | €25,939 | - |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €38,675 | €28,303 | €30,512 | -€6,156 | -€19,722 | ▼ 220% |
| + Depreciation and write-downs630 | €40,072 | €44,154 | €45,365 | €41,138 | €32,444 | ▼ 21.1% |
| Operating cash flow (approximation) | €78,747 | €72,457 | €75,877 | €34,982 | €12,723 | ▼ 63.6% |
| Investment in fixed assets (approximation) | - | -€15,293 | -€17,594 | -€4,581 | €9,342 | ▲ 304% |
| Change in cash | - | -€10,576 | €66,646 | -€18,436 | €14,456 | ▲ 178% |
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 2027, expected by
2026
29-09
NBB filing
Annual accounts filed
fiscal year 2026 · micro schema
31-03
Financial
Weakest financial yearnet -€19,722
Net result drops to -€19,722, the lowest in the series.
04-02
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 96 days late
2024
03-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
30-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2022
14-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2021
06-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
05-08
State Gazette act
General meeting · Board meeting
Director resignation · Permanent representative
2020
27-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 27 days late
31-03
Financial
Highest result since 2019net €52,862 ▲22.7%
Operating result €74,910, net result €52,862, both a record.
2019
24-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
28-11
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 28 days late
Show earlier events
31-05
State Gazette act
General meeting · Director reappointment
Permanent representative · Mandate compensation
2017
27-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2013
08-05
State Gazette act
General meeting · Name change
Short name removal · Director resignation
2006
11-09
State Gazette act
General meeting · Name change
Statutes amendment · Director resignation
Financial milestoneState Gazette actNBB 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
No directors read yet: 0 of 2 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Brasschaat · 1 establishment unit since 2006
Ground area
1,010 m²
Building footprint
176 m²
Volume, LiDAR
774 m³
Parcel 11322E0015/00E005, Flanders · tallest building 6.0 m, ±1 floor. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
IR. C. MAENHOUT
since 20062.150.867.310
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11322E0015/00E005 | Flanders | 1,010 m² | 1 · 176 m² | 6.0 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
Connections & network
The group is listed under Ownership & control below; here you explore it as a network.
This company
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Shareholding
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Ownership & control
1 board mandateBoard mandates of this companythis company sits on their board1
1 location
Subsidies and aid
Flemish government
2023 · 1 entry · 56 EUR awarded · 56 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 56 EUR | 56 EUR |
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Of 2,765 companies in this sector we hold annual accounts for 1,209. 813 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPrivate limited company
Founded16-12-2005
Fiscal year end31-03
Trade name NL
MAR-SELL (1) view//masters (2)
Activities, NACEBEL 2025
69109Other legal services
52249Warehousing and support activities for transportation
52250Logistics services
64210Activities of holding companies
82990Other business support services
77340Rental and leasing activities
Contact
E-mail
cm@expert-maenhout.be
E-invoicing
Reachable via Peppol
Peppol ID
0208:0877970853
Also
9925:BE0877970853
Registered
06-11-2025
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.