JF Maes
ActiveSummary
JF Maes has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €6.04M and a net result of €670k. Equity is growing by ~11% per year across the filed fiscal years. Its solvency ranks better than 77% of 5989 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2024
76
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability65▼-4
Solvency91▼-9
Growth72▲+2
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €450k at 30 days acceptable
Liquidity ample (current ratio 2.76 against 7.02 in 2023; short-term debt: 30.4% and cash: 12.5% of total assets), and 33.5% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six 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 · 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
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
66.5%
Return on assets
7.4%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 20-06-2025, 41 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
41 d early
2023
41 d early
2022
66 d early
2021
33 d early
2020
52 d early
2019
3 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, full schema
Turnover
€20.53M▲ 18.8%
2023 · €17.28M
2018: €12.81M
2019: €7.54M
2020: €7.37M
2021: €13.73M
2022: €17.24M
2023: €17.28M
2018 → 2024
EBIT margin
3.6%▼ 1.3pp
2023 · 4.9%
2018: 2.9%
2019: 6.0%
2020: 10.4%
2021: 5.2%
2022: 2.8%
2023: 4.9%
2018 → 2024
Net result
€670k▼ 1.8%
2023 · €683k
2018: €331k
2019: €345k
2020: €589k
2021: €656k
2022: €354k
2023: €683k
2018 → 2024
Working capital
€4.86M▲ 1.7%
2023 · €4.78M
2018: €2.80M
2019: €2.49M
2020: €3.11M
2021: €3.44M
2022: €3.91M
2023: €4.78M
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Turnover€7.37M-€13.73M▲ 86.4%€17.24M▲ 25.5%€17.28M▲ 0.3%€20.53M▲ 18.8%
Equity€3.98M-€4.42M▲ 11.2%€4.79M▲ 8.2%€5.46M▲ 14.1%€6.04M▲ 10.5%
Operating result€768k-€709k▼ 7.7%€483k▼ 31.9%€855k▲ 77.1%€742k▼ 13.2%
Net result€589k-€656k▲ 11.3%€354k▼ 46.1%€683k▲ 93.1%€670k▼ 1.8%
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 13% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €9.08M
Fixed assets
€1.45M ▲ 28.9%
Current assets
€7.63M ▲ 36.9%
Equity and liabilities €9.08M
Equity
€6.04M ▲ 10.5%
Provisions
€18k ▼ 20.0%
Debt
€3.03M ▲ 148%
Debt's share of the balance-sheet total rises from 18.2% to 33.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€969k▼
2023 · €1.06M
Cash flow
€897k▲
2023 · €888k
Current ratio
2.76▼
2023 · 7.02
Quick ratio
1.28▼
2023 · 3.58
Debt to equity
0.50▲
2023 · 0.22
ROE
11.1%▼
2023 · 12.5%
ROA
7.4%▼
2023 · 10.2%
Interest coverage
31.78▼
2023 · 34.45
Debt ≤ 1 year
€2.76M▲
2023 · €794k
Income taxes
€150k▼
2023 · €236k
Staff costs
€449k▲
2023 · €443k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 88 lines
Balance sheet
Code20232024
Assets
Total assets20/58€6.70M€9.08M▲
Fixed assets21/28€1.13M€1.45M▲
Intangible fixed assets21€63k€64k▲
Tangible fixed assets22/27€971k€1.29M▲
Land and buildings22€564k€829k▲
Plant, machinery and equipment23€123k€134k▲
Furniture and vehicles24€35k€108k▲
Other tangible fixed assets26€249k€215k▼
Financial fixed assets28€94k€103k▲
Other financial fixed assets284/8€94k€103k▲
Amounts receivable and cash guarantees285/8€94k€103k▲
Current assets29/58€5.57M€7.63M▲
Stocks and contracts in progress3€2.73M€4.10M▲
Stocks30/36€2.73M€4.10M▲
Goods purchased for resale34€2.73M€4.10M▲
Amounts receivable within one year40/41€1.68M€2.35M▲
Trade receivables40€1.68M€1.81M▲
Other amounts receivable41-€547k
Current investments50/53€400k-
Other investments51/53€400k-
Cash at bank and in hand54/58€714k€1.14M▲
Deferred charges and accrued income490/1€43k€38k▼
Equity and liabilities
Total equity and liabilities10/49€6.70M€9.08M▲
Equity10/15€5.46M€6.04M▲
Contributions10/11€1.80M€1.80M=
Capital10€1.80M€1.80M=
Issued capital100€1.80M€1.80M=
Reserves13€3.58M€4.18M▲
Non-distributable reserves130/1€180k€180k=
Legal reserve130€180k€180k=
Tax-exempt reserves132€760k€667k▼
Distributable reserves133€2.64M€3.33M▲
Profit (loss) carried forward14€14k€5k▼
Investment grants15€63k€53k▼
Provisions and deferred taxes16€23k€18k▼
Deferred taxes168€23k€18k▼
Amounts payable17/49€1.22M€3.03M▲
Amounts payable within one year42/48€794k€2.76M▲
Current portion of amounts payable after more than one year42-€800k
Trade debts44€677k€1.50M▲
Suppliers440/4€677k€1.33M▲
Bills of exchange payable441-€169k
Advances received on contracts in progress46€33k€28k▼
Taxes, remuneration and social security45€84k€44k▼
Taxes450/3€35k€240▼
Remuneration and social security454/9€50k€43k▼
Other amounts payable47/48-€395k
Accrued charges and deferred income492/3€425k€263k▼
Income statement
Code20232024
Operating income70/76A€19.47M€22.96M▲
Turnover70€17.28M€20.53M▲
Other operating income74€2.18M€2.42M▲
Non-recurring operating income76A€130€9k▲
Operating charges60/66A€18.61M€22.22M▲
Goods for resale, raw materials and consumables60€13.63M€17.03M▲
Purchases600/8€12.81M€18.40M▲
Change in stocks: decrease (increase)609€822k€-1.37M▼
Services and other goods61€2.19M€2.33M▲
Remuneration, social security and pensions62€443k€449k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€205k€227k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€2k€-411▼
Provisions for liabilities and charges: additions (uses and reversals)635/8€-245k-
Other operating charges640/8€2.38M€2.19M▼
Non-recurring operating charges66A€2k-
Operating profit (loss)9901€855k€742k▼
Financial income75/76B€89k€103k▲
Recurring financial income75€89k€103k▲
Income from financial fixed assets750€10k€16k▲
Income from current assets751€4k€578▼
Other financial income752/9€75k€87k▲
Financial charges65/66B€31k€30k▼
Recurring financial charges65€31k€30k▼
Other financial charges652/9€31k€30k▼
Profit (loss) for the period before taxes9903€914k€815k▼
Transfer from deferred taxes780€5k€5k=
Income taxes67/77€236k€150k▼
Taxes670/3€236k€210k▼
Tax adjustments and reversals of tax provisions77-€60k
Profit (loss) for the period9904€683k€670k▼
Transfer from tax-exempt reserves789€9k€9k=
Transfer to tax-exempt reserves689€307k€295k▼
Profit (loss) for the period to be appropriated9905€384k€384k=
Appropriation of the result
Profit (loss) to be appropriated9906€394k€398k▲
Profit (loss) brought forward from the previous period14P€9k€14k▲
Transfer to equity691/2€380k€308k▼
To other reserves6921€380k€308k▼
Profit to be distributed694/7-€85k
Return on contributions (dividend)694-€85k
Social balance
Average headcount (FTE)90877.27.1▼
The notes to these accounts (58 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2026
12-08
State Gazette act
Appointment: Michel Weber, réviseur d'entreprises (statutory auditor)2 facts ▸
State Gazette act
Appointment: Michel Weber, réviseur d'entreprises (statutory auditor)
2 facts ▸
- General meeting, 28/05/2026
- Auditor appointment, Michel Weber, réviseur d'entreprises
2025
20-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
20-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Highest result since 2018net €683k ▲93.1%
Operating result €855k, net result €683k, both a record.
31-12
Financial
Liquidity doublescurrent ratio 7.02
Current ratio from 2.82 to 7.02; short-term debt falls from €2.15M to €794k.
31-12
Financial
Equity above €5MEq €5.46M ▲14.1%
6 profitable years in a row build equity to €5.46M.
26-05
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
28-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
09-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Liquidity triplescurrent ratio 14.70
Current ratio from 4.46 to 14.70; short-term debt falls from €720k to €227k.
28-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
20-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
Show earlier events
2018
23-05
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
12-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
07-06
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Location & real-estate footprint
Registered office, Tubize · 1 establishment unit since 1992
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.
Avenue Zénobe Gramme 51480 TubizeGround area
6,312 m²
Building footprint
2,372 m²
Volume, LiDAR
17,599 m³
Parcel 25097C0575/00V002, Wallonia · tallest building 10.3 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
JF MAES SA
since 19922.059.549.629
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25097C0575/00V002 | Wallonia | 6,312 m² | 1 · 2,372 m² | 10.3 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Statutory auditor
1 auditor| Michel Weber, reviseur d'entreprisesCurrent Auditor | 12-08-2026 → present |
Recognitions · licences · registrations
Food safety, FASFC
1 siteTubize2.059.549.629
Legal Entity Identifier
549300FX3QZ71O8K7L04
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Of 1,565 companies in sector 46900 we hold annual accounts for 920. 332 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded06-08-1992
Fiscal year end31-12
Activities, NACEBEL 2025
46900Non-specialised wholesale trade
46350Wholesale trade
46499Wholesale of other household goods
47120Other non-specialised retail sale
82100Office administrative and support services
Sources
Crossroads Bank for EnterprisesNational Bank · 33 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.