Liquidity
4.82 was 2.74 in 2024
Short-term debts fell from €98,236 to €49,085.
M.H. - RETAIL
Lifetime
15 annual accounts with figures on one time axispeak €84,796 (2024)
€17,927▼ 78.9%
lowest -€12,305 (2025)
-€12,305▼ €37,108
peak €233,581 (2024)
€221,277▼ 5.3%
€49,085▼ 50.0%
Board4 names since 2010
4 directorsDE CLERCQ,Marie-Claire and 3 others
Documentsfilings and deeds
19-08-202619 days late
2025abbreviated format
Gross margin from €84,796 to €17,927Loss of €12,305Debts from €98,236 to €49,085
Key points
from the 2025 annual accountsFilings
15 annual accounts since 2011
Three of the last ten came late. The 2022 accounts came latest: 24 days after the end of the period.
Position in the sector
-€12,305
Lower net result than 81% of companies in wholesale trade. Sector median €26,728 · 9,878 companies.
Checked score
96
Excellent
Financially stronger than 65% of micro companies in wholesale trade (NACE 46)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.4% across 26,888 companies (NACE 46, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: < 0.1%
01-2025: < 0.1%● unchanged vs 12-2024
02-2025: < 0.1%● unchanged vs 01-2025
03-2025: < 0.1%● unchanged vs 02-2025
04-2025: < 0.1%● unchanged vs 03-2025
05-2025: < 0.1%● unchanged vs 04-2025
06-2025: < 0.1%● unchanged vs 05-2025lowest value
07-2025: 0.1%▲ +0.1 percentage points vs 06-2025
08-2025: < 0.1%▼ -0.1 percentage points vs 07-2025
09-2025: < 0.1%● unchanged vs 08-2025
10-2025: < 0.1%● unchanged vs 09-2025
11-2025: < 0.1%● unchanged vs 10-2025
12-2025: < 0.1%● unchanged vs 11-2025
01-2026: < 0.1%● unchanged vs 12-2025
02-2026: < 0.1%● unchanged vs 01-2026
03-2026: < 0.1%● unchanged vs 02-2026
04-2026: 0.1%▲ +0.1 percentage points vs 03-2026
05-2026: 0.1%● unchanged vs 04-2026
06-2026: 0.1%● unchanged vs 05-2026
07-2026: 0.1%● unchanged vs 06-2026
08-2026: 0.1%● unchanged vs 07-2026highest value
09-2026: 0.1%● unchanged vs 08-2026
10-2026: 0.1%● unchanged vs 09-2026
11-2026: 0.1%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
raises risk
Loss of €12,305 (financial year 2025)
lowers risk
Liquidity: current ratio 4.82, cash €104,561
Founded in 2010
Equity €221,277 (81.8% of total assets)
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 46, micro). It does better than 90% of them on solvency, 91% on liquidity, 46% on profitability and 31% on growth.
The bankruptcy probability was computed on 08-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 6,908 companies had the same profile as M.H. - RETAIL has now. Each dot stands for 18 companies, two years later.
90.9%
were still trading
7.8%
stopped another way
1.1%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of M.H. - RETAIL itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 6,908 companies, not a prediction for M.H. - RETAIL. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €21,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 4.82 (2.74 in 2024), above the usual 1.5. Short-term debt is 18.2% and cash 38.7% of total assets. 18.2% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises risk
raises risk · 2025 accounts filed 19 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 19-08-2026, 19 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
19 days late
2024
5 days early
2023
13 days early
2022
24 days late
2021
4 days early
2020
40 days early
2019
6 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 2 days before the deadline. In the sector (NACE 46), the median for financial year 2024 was 3 days before the deadline, and 39% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 27 July (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- VANDERBAUWHEDE Luc Gentiel Adolf 50 sharesdeed of 19-01-2024
- DE CLERCQ Marie-Claire 50 sharesdeed of 19-01-2024
Shares in 1 company, TIMBERDRY
Board & ownershipRecent changes
Purpose change · Amendment of the articles · Legal-form change · Resignations & appointments
Reappointments: VANDERBAUWHEDE Luc Gentiel Adolf (director) and DE CLERCQ Marie-Claire (director) · Appointments: VANDERBAUWHEDE Ann Claire Meike (director) and VANDERBAUWHEDE Filip Antoine Adelin (director) · “Alle verrichtingen die direct of indirect betrekking hebben op het beheer,de aankoop,de verkoop,de…” (deed in Dutch) · General meeting of 03-01-2024 · Gazette deed
First establishment
M.H. Retail, Karreweg 15, Nazareth-De Pinte
Incorporation
published on 23-03-2010 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| M.H. - RETAIL Nazareth-De Pinte | €270,362 | €17,927 | 81.8% | - |
| EUROCOM TRADING Antwerp | €235,550 | €20,476 | 21.6% | - |
| ELINE - JILL Schoten | €201,134 | €43,736 | 13.0% | - |
| INLOOK Antwerp | €215,576 | €51,647 | 29.8% | - |
| KAZAN GROUP Schaerbeek | €133,697 | €14,456 | 5.5% | 3 |
| VESTITO Schoten | €165,946 | €56,781 | 80.1% | - |
| ACCESS TRADING Forest | €143,535 | €6,780 | 35.2% | - |
These companies have the same main activity as M.H. - RETAIL: wholesale trade (NACE 46419). They are comparable in size and age: total assets between €134,000 and €236,000, founded between 2006 and 2014.
Official details
Source: KBO- Status
- Active since 11-03-2010Normal situation
- Activity
- Wholesale tradeNACE 46419and 3 others
- Establishment unit
- 2.186.028.8209810 Nazareth-De Pinte, since 23-03-2010
- Financial year end
- 31 December
- Peppol
- Reachable
Insights on M.H. - RETAIL
M.H. - RETAIL files the abbreviated format. That format states no turnover. The gross margin fell from €21,060 in 2011 to €17,927 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about M.H. - RETAIL
- What is the company number of M.H. - RETAIL?
- The company number of M.H. - RETAIL is 0823.841.883. The VAT number is the same number with BE in front: BE 0823.841.883.
- Where is M.H. - RETAIL based?
- The registered office is at Karreweg 15, 9810 Nazareth-De Pinte.Company details
- What does M.H. - RETAIL do?
- According to the KBO register, the main activity is wholesale trade (NACE 46419).
- What is the legal form of M.H. - RETAIL?
- M.H. - RETAIL is a private limited company (BV).
- When was M.H. - RETAIL founded?
- M.H. - RETAIL was founded on 11-03-2010.
- Is M.H. - RETAIL still active?
- Yes, M.H. - RETAIL is an active enterprise in the KBO register.
- What is the turnover of M.H. - RETAIL?
- The turnover in financial year 2025 is ≈ €170,000. This figure is estimated from the gross margin of €17,927 and 70 comparable companies (NACE 464). It probably lies between €91,000 and €540,000. It is a rough estimate.Financials
- Is M.H. - RETAIL profitable?
- In financial year 2025, M.H. - RETAIL made a loss of €12,305.
- Where can I find the annual accounts of M.H. - RETAIL?
- M.H. - RETAIL filed 15 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of M.H. - RETAIL due?
- M.H. - RETAIL must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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