KAREL MAES
ActiveKAREL MAES has been active since 2000 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €521k and a net result of €66k. Equity is growing by ~21.9% per year across the filed fiscal years. Its solvency ranks better than 95% of 7692 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
89
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability84=
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €45k at 30 days acceptable
Liquidity ample (current ratio 19.86 against 6.87 in 2024; short-term debt: 3.8% and cash: 49.5% of total assets), and 6.3% 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Sector 43
higher
← 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
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
93.7%
Return on assets
11.9%
Age of the figures
9 mo
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 01-07-2026, 30 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
30 d early
2024
31 d early
2023
41 d early
2022
32 d early
2021
31 d early
2020
33 d early
2019
36 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
16-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€521k▲ 14.5%
2024 · €455k
2018: €114k
2019: €171k
2020: €205k
2021: €254k
2022: €303k
2023: €391k
2024: €455k
2018 → 2025
Total assets
€556k▲ 4.5%
2024 · €532k
2018: €680k
2019: €705k
2020: €695k
2021: €644k
2022: €640k
2023: €518k
2024: €532k
2018 → 2025
Net result
€66k▲ 4.2%
2024 · €63k
2018: €42k
2019: €57k
2020: €33k
2021: €49k
2022: €49k
2023: €88k
2024: €63k
2018 → 2025
Working capital
€401k▲ 28.5%
2024 · €312k
2018: €180k
2019: €191k
2020: €220k
2021: €262k
2022: €302k
2023: €256k
2024: €312k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€254k-€303k▲ 19.4%€391k▲ 29.0%€455k▲ 16.2%€521k▲ 14.5%
Operating result€62k-€65k▲ 5.4%€115k▲ 76.8%€85k▼ 25.8%€90k▲ 5.0%
Net result€49k-€49k=€88k▲ 78.4%€63k▼ 27.8%€66k▲ 4.2%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 5% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €556k
Fixed assets
€133k▼ 20.0%
Current assets
€423k▲ 15.6%
Equity and liabilities €556k
Equity
€521k▲ 14.5%
Debt
€35k▼ 54.8%
The debt ratio falls from 14.5% to 6.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€123k▲
2024 · €119k
Cash flow
€99k▲
2024 · €97k
Solvency
93.7%▲
2024 · 85.5%
Current ratio
19.86▲
2024 · 6.87
Quick ratio
18.74▲
2024 · 6.40
Debt / equity
0.07▼
2024 · 0.17
ROE
12.7%▼
2024 · 14.0%
ROA
11.9%▼
2024 · 11.9%
Interest coverage
35.49▲
2024 · 26.16
Debt
€35k▼
2024 · €77k
Debt ≤ 1 year
€21k▼
2024 · €53k
Debt > 1 year
€14k▼
2024 · €24k
Income taxes
€26k▼
2024 · €26k
Staff costs
€220k▲
2024 · €214k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€532k€556k▲
Fixed assets21/28€167k€133k▼
Tangible fixed assets22/27€167k€133k▼
Land and buildings22€154k€125k▼
Plant, machinery and equipment23€6k€4k▼
Furniture and vehicles24€7k€4k▼
Current assets29/58€366k€423k▲
Stocks and contracts in progress3€25k€24k▼
Stocks30/36€25k€24k▼
Amounts receivable within one year40/41€110k€123k▲
Trade receivables40€84k€84k▼
Other amounts receivable41€26k€40k▲
Cash at bank and in hand54/58€231k€275k▲
Equity and liabilities
Total equity and liabilities10/49€532k€556k▲
Equity10/15€455k€521k▲
Contributions10/11€100k€100k=
Reserves13€355k€421k▲
Distributable reserves133€355k€421k▲
Amounts payable17/49€77k€35k▼
Amounts payable after more than one year17€24k€14k▼
Financial debts170/4€24k€14k▼
Amounts payable within one year42/48€53k€21k▼
Current portion of amounts payable after more than one year42€40k€10k▼
Trade debts44€6k€1k▼
Suppliers440/4€6k€1k▼
Taxes, remuneration and social security45€7k€7k▼
Remuneration and social security454/9€7k€7k▼
Other amounts payable47/48-€2k
Income statement
Code20242025
Remuneration, social security and pensions62€214k€220k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€33k€33k▼
Other operating charges640/8€9k€10k▲
Gross operating margin9900€342k€353k▲
Operating profit (loss)9901€85k€90k▲
Financial income75/76B€8k€6k▼
Recurring financial income75€8k€6k▼
Financial charges65/66B€5k€3k▼
Recurring financial charges65€5k€3k▼
Profit (loss) for the period before taxes9903€89k€92k▲
Income taxes67/77€26k€26k▼
Profit (loss) for the period9904€63k€66k▲
Profit (loss) for the period to be appropriated9905€63k€66k▲
Appropriation of the result
Profit (loss) to be appropriated9906€63k€66k▲
Transfer to equity691/2€63k€66k▲
To other reserves6921€63k€66k▲
Social balance
Average headcount (FTE)90873.73.6▼
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
01-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Liquidity triplescurrent ratio 19.86
Current ratio from 6.87 to 19.86; short-term debt falls from €53k to €21k.
31-12
Financial
Equity above €500kEq €521k ▲14.5%
8 profitable years in a row build equity to €521k.
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
20-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Highest result since 2018net €88k ▲78.4%
Operating result €115k, net result €88k, both a record.
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
28-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Weakest financial yearnet €33k ▼41.3%
Net result drops to €33k, the lowest in the series; recovery starts the following year.
31-12
Financial
Equity above €200kEq €205k ▲19.5%
3 profitable years in a row build equity to €205k.
25-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Equity above €150kEq €171k ▲49.9%
2 profitable years in a row build equity to €171k.
01-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
21-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
27-06
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.
Directors · office · real estate
Directors
2 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, Geel · 1 establishment unit since 2000
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.
Bruul 662440 GeelGround area
1,333 m²
Building footprint
199 m²
Volume, LiDAR
1,073 m³
Parcel 13008I0830/00X000, Flanders · tallest building 9.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
KAREL MAES BVBA
since 20002.131.834.029
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13008I0830/00X000 | Flanders | 1,333 m² | 1 · 199 m² | 9.3 m · 2 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.
Public money · subsidies and aid
Flemish government
2024 to 2025 · 2 entries · 751 EUR awarded · 751 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 491 EUR | 491 EUR |
| 2024 | 1 | 260 EUR | 260 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 20,033 companies in sector 43320 we hold annual accounts for 9,135. 5,883 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded11-04-2000
Fiscal year end31-12
Activities, NACEBEL
43320Joinery installation
45421
Sources
Crossroads Bank for EnterprisesNational Bank · 25 filingsAddress and cadastre registers
Data from official sources, last processed on 16-09-2026. Scores and ratios are computed by Checked and are not a credit decision.