Equity
MAC has made a profit without a break since 2020.
In July 2024, 17,035 companies had the same profile as MAC has now. Each dot stands for 43 companies, two years later.
Another 0.2% stopped without a precise date, possibly only after those two years.
The method was tested on the 497,331 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 | 2.9% | 3.1% |
| 10 | 5.6% | 6.1% |
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 17,035 companies, not a prediction for MAC. 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.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
| Company | ||||
|---|---|---|---|---|
| MAC Heers | €208,189 | €27,499 | 58.4% | - |
| B.B.A. Bocholt | €208,562 | €26,589 | -353.3% | - |
| CARDINAELS Maasmechelen | €197,113 | €18,540 | 55.6% | - |
| TOPAGRA Geraardsbergen | €147,450 | €21,066 | -257.8% | - |
| LEMMENS TRACTOR Beringen | €318,260 | €46,984 | 26.4% | - |
| Tuinen Stijn Landuyt Aalter | €220,305 | €23,403 | 78.1% | - |
| AZAPERK Ghent | €308,701 | €41,199 | 26.1% | - |
These companies have the same main activity as MAC: wholesale trade (NACE 46610). They are comparable in size and age: total assets between €147,000 and €318,000, founded between 1985 and 2001.
MAC files the micro format. That format states no turnover. The gross margin fell from €43,273 in 2006 to €27,499 in 2025.
In January 2023, the Official Gazette published the appointment of as managing director.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €180,000. Estimated: probably between €95,000 and €340,000.
Higher than 64% of 15,428 companies in 2025.
Higher than 71% of 14,692 companies in 2025.
Higher than 50% of 14,921 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||||||||||||
20/58 |
208,189 | 218,751 | 197,640 | 219,029 | 399,289 | 415,403 | 238,978 | 269,976 | 426,210 | 427,626 | 398,638 | 557,137 | 267,933 | 212,172 | 220,996 | 201,120 | 271,292 | 231,309 | 174,468 | 231,678 | |
21/28 |
103,933 | 140,364 | 114,238 | 152,561 | 200,635 | 255,564 | 143,377 | 185,876 | 201,705 | 250,277 | 276,563 | 310,796 | 141,560 | 169,875 | 192,361 | 164,423 | 257,094 | 214,674 | 165,447 | 199,849 | |
22/27 |
103,933 | 140,364 | 114,238 | 152,561 | 200,635 | 255,564 | 143,377 | 185,876 | 201,705 | 250,277 | 276,563 | 310,796 | 141,560 | 169,875 | 192,361 | 164,423 | 257,094 | 214,674 | 165,447 | 199,849 | |
23 |
97,731 | 131,412 | 102,536 | 145,033 | 191,601 | 245,024 | 128,791 | 165,622 | 191,233 | 230,955 | 248,391 | 273,774 | 95,688 | 103,799 | 106,081 | 57,940 | 31,232 | 39,008 | 39,000 | 46,108 | |
24 |
6,202 | 8,952 | 11,702 | 7,528 | 9,034 | 10,539 | 14,586 | 20,254 | 10,472 | 19,322 | 28,172 | 37,022 | 45,872 | 66,076 | 86,280 | 106,483 | 225,862 | 175,666 | 126,447 | 153,741 | |
29/58 |
104,257 | 78,387 | 83,402 | 66,468 | 198,654 | 159,839 | 95,601 | 84,100 | 224,505 | 177,349 | 122,075 | 246,341 | 126,373 | 42,297 | 28,635 | 36,697 | 14,198 | 16,635 | 9,021 | 31,829 | |
40/41 |
80,465 | 76,148 | 75,615 | 61,685 | 146,981 | 125,298 | 87,991 | 77,281 | 214,221 | 162,331 | 96,248 | 234,240 | 126,373 | 42,063 | 18,851 | 36,602 | 14,118 | 4,608 | 8,896 | 23,740 | |
40 |
80,117 | 56,435 | 71,197 | 60,693 | 146,633 | 93,793 | 85,084 | 73,871 | 211,327 | 159,004 | 92,044 | 180,590 | 115,515 | 36,109 | 18,541 | 36,602 | 14,118 | 4,593 | 8,893 | 6,877 | |
41 |
348 | 19,713 | 4,418 | 992 | 348 | 31,505 | 2,907 | 3,410 | 2,894 | 3,327 | 4,204 | 53,651 | 10,857 | 5,954 | 310 | - | - | 15 | 3 | 16,863 | |
54/58 |
23,234 | 1,663 | 7,241 | 4,263 | 51,546 | 34,542 | 7,611 | 6,819 | 10,284 | 15,019 | 25,827 | 12,101 | - | 234 | 9,784 | - | - | 11,957 | 1 | 7,869 | |
490/1 |
558 | 576 | 545 | 520 | 128 | - | - | - | - | - | - | - | - | - | - | 95 | 80 | 70 | 124 | 220 | |
| Balance sheet: equity and liabilities | |||||||||||||||||||||
10/49 |
208,189 | 218,751 | 197,640 | 219,029 | 399,289 | 415,403 | 238,978 | 269,976 | 426,210 | 427,626 | 398,638 | 557,137 | 267,933 | 212,172 | 220,996 | 201,120 | 271,292 | 231,309 | 174,468 | 231,678 | |
10/15 |
121,549 | 105,959 | 106,491 | 108,204 | 106,210 | 58,271 | 34,431 | 36,825 | 30,626 | 37,162 | 40,878 | 35,767 | 30,283 | 27,017 | 28,299 | 30,617 | 27,695 | 25,691 | 25,421 | 25,556 | |
10/11 |
18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
13 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
130/1 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
1311 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
14 |
73,628 | 67,061 | 61,164 | 56,448 | 48,025 | 37,811 | 13,971 | 16,365 | 10,166 | 16,702 | 20,418 | 15,307 | 9,823 | 6,557 | 7,839 | 10,157 | 7,235 | 5,231 | 4,961 | 5,096 | |
15 |
27,461 | 18,439 | 24,867 | 31,296 | 37,725 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
17/49 |
86,640 | 112,791 | 91,149 | 110,825 | 293,079 | 357,132 | 204,547 | 233,151 | 395,584 | 390,464 | 357,760 | 521,370 | 237,650 | 185,155 | 192,697 | 170,503 | 243,597 | 205,618 | 149,047 | 206,122 | |
17 |
52,682 | 79,462 | 69,393 | 90,093 | 239,182 | 269,972 | 134,599 | 187,066 | 337,035 | 299,300 | 315,729 | 466,325 | 236,155 | 169,321 | 179,895 | 91,945 | 180,508 | 56,713 | 81,713 | 67,284 | |
170/4 |
46,489 | 73,269 | 63,200 | 83,900 | 104,423 | 141,198 | 33,119 | 59,691 | 86,524 | 93,714 | 117,143 | 140,571 | - | - | 10,574 | 21,145 | 100,858 | 56,713 | 81,713 | 67,284 | |
178/9 |
6,193 | 6,193 | 6,193 | 6,193 | 134,759 | 128,774 | 101,480 | 127,375 | 250,511 | 205,586 | 198,586 | 325,753 | 236,155 | 169,321 | 169,321 | 70,800 | 79,650 | - | - | - | |
42/48 |
33,958 | 33,329 | 21,756 | 20,732 | 53,897 | 87,160 | 69,948 | 41,086 | 53,549 | 86,164 | 42,031 | 55,046 | 1,495 | 15,834 | 12,802 | 78,558 | 63,089 | 148,811 | 65,993 | 137,754 | |
42 |
26,780 | 26,598 | 20,700 | 20,522 | 36,775 | 44,659 | 26,571 | 26,571 | 26,309 | 23,429 | 23,429 | 23,429 | - | 10,574 | 10,571 | 10,571 | 41,923 | 25,000 | 25,000 | 36,717 | |
43 |
- | - | - | - | - | - | - | - | - | - | - | - | 682 | - | - | 62 | 620 | - | 620 | - | |
430/8 |
- | - | - | - | - | - | - | - | - | - | - | - | 682 | - | - | 62 | 620 | - | 620 | - | |
44 |
4,017 | 6,722 | 1,046 | 209 | 12,163 | 39,958 | 40,842 | 14,514 | 27,240 | 62,735 | 18,602 | 31,617 | 814 | 5,260 | 2,231 | 54,784 | 18,113 | 121,787 | 39,670 | 101,037 | |
440/4 |
4,017 | 6,722 | 1,046 | 209 | 12,163 | 39,958 | 40,842 | 14,514 | 27,240 | 62,735 | 18,602 | 31,617 | 814 | 5,260 | 2,231 | 54,784 | 18,113 | 121,787 | 39,670 | 101,037 | |
45 |
658 | 10 | 10 | - | 4,959 | 2,543 | 2,535 | - | - | - | - | - | - | - | - | 13,141 | 2,433 | 2,024 | 703 | - | |
450/3 |
658 | 10 | 10 | - | 4,959 | 2,543 | 2,535 | - | - | - | - | - | - | - | - | 13,141 | 2,433 | 2,024 | 703 | - | |
47/48 |
2,503 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
492/3 |
- | - | - | - | - | - | - | 5,000 | 5,000 | 5,000 | - | - | - | - | - | - | - | 94 | 1,341 | 1,084 | |
| Income statement | |||||||||||||||||||||
76A |
- | - | - | 2,500 | - | 23,000 | 16,980 | - | - | - | 7,350 | 30,000 | - | - | - | - | - | - | - | - | |
9900 |
27,499 | 48,336 | 45,036 | 52,828 | 60,290 | 64,665 | 42,719 | 58,786 | 47,135 | 48,360 | 59,021 | 15,995 | 47,866 | 40,475 | 37,832 | 58,577 | 57,670 | 38,058 | 37,991 | 43,273 | |
630 |
36,431 | 46,994 | 44,545 | 48,074 | 54,929 | 38,748 | 39,479 | 49,051 | 48,572 | 54,786 | 56,651 | 39,163 | 43,931 | 40,808 | 38,143 | 28,564 | 46,080 | 33,333 | 33,741 | 38,364 | |
640/8 |
62 | 62 | 523 | 910 | 776 | 487 | 1,870 | 484 | 483 | 556 | 634 | 876 | 480 | 234 | 669 | 19,972 | 464 | 570 | 890 | 487 | |
9901 |
-8,995 | 1,280 | -32 | 3,844 | 4,585 | 25,430 | 1,370 | 9,252 | -1,919 | -6,983 | 1,736 | -24,043 | 3,455 | -566 | -980 | 10,041 | 11,126 | 4,155 | 3,360 | 4,422 | |
75/76B |
18,731 | 6,429 | 6,431 | 6,429 | 7,278 | - | - | - | - | 6,000 | 2 | 66 | 5 | - | - | 943 | 2,082 | 1,054 | 3,914 | 2,816 | |
75 |
11,231 | 6,429 | 6,431 | 6,429 | 7,278 | - | - | - | - | - | 2 | 66 | 5 | - | - | 943 | 2,082 | 1,054 | 3,914 | 2,816 | |
76B |
7,500 | - | - | - | - | - | - | - | - | 6,000 | - | - | - | - | - | - | - | - | - | - | |
65/66B |
3,169 | 1,812 | 1,683 | 1,851 | 1,648 | 1,590 | 1,229 | 3,053 | 2,705 | 2,733 | 2,732 | 538 | 195 | 716 | 1,338 | 8,060 | 11,204 | 4,939 | 7,409 | 7,271 | |
65 |
3,169 | 1,812 | 1,683 | 1,851 | 1,648 | 1,590 | 1,229 | 1,978 | 2,705 | 2,733 | 2,732 | 538 | 195 | 716 | 1,338 | 8,060 | 11,204 | 4,939 | 7,409 | 7,271 | |
66B |
- | - | - | - | - | - | - | 1,075 | - | - | - | - | - | - | - | - | - | - | - | - | |
9903 |
6,568 | 5,897 | 4,716 | 8,422 | 10,215 | 23,840 | 141 | 6,199 | -4,624 | -3,716 | 6,356 | 5,485 | 3,266 | -1,282 | -2,318 | 2,924 | 2,004 | 270 | -135 | -33 | |
67/77 |
- | - | - | - | - | - | 2,535 | - | 1,913 | - | 1,245 | 0 | - | - | - | 2 | - | - | - | - | |
9904 |
6,568 | 5,897 | 4,716 | 8,422 | 10,215 | 23,840 | -2,394 | 6,199 | -6,537 | -3,716 | 5,111 | 5,485 | 3,266 | -1,282 | -2,318 | 2,922 | 2,004 | 270 | -135 | -33 | |
9905 |
6,568 | 5,897 | 4,716 | 8,422 | 10,215 | 23,840 | -2,394 | 6,199 | -6,537 | -3,716 | 5,111 | 5,485 | 3,266 | -1,282 | -2,318 | 2,922 | 2,004 | 270 | -135 | -33 | |
| Appropriation of the result | |||||||||||||||||||||
9906 |
73,628 | 67,061 | 61,164 | 56,448 | 48,025 | 37,811 | 13,971 | 16,365 | 10,166 | 16,702 | 20,418 | 15,307 | 9,823 | 6,557 | 7,839 | 10,157 | 7,235 | 5,231 | 4,961 | 5,096 | |
14P |
67,061 | 61,164 | 56,448 | 48,025 | 37,811 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Document | |||||||||||||||||||||
The accounts for 9 older financial years (1997-2005) were filed as documents without figures as data, scans for example.
The notes to these accounts have 8 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 30-08-2026.
2025 annual accounts filed 30 days after the deadline. Filed on 30 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00453704.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 30-08-2026 | 2026-00453704 | |
| 31-12-2024 | micro format | 31-08-2025 | 2025-00454130 | |
| 31-12-2023 | micro format | 28-08-2024 | 2024-00435445 | |
| 31-12-2022 | micro format | 31-08-2023 | 2023-00393273 | |
| 31-12-2021 | micro format | 29-08-2022 | 2022-20354753 | |
| 31-12-2020 | micro format | 31-08-2021 | 2021-60800148 | |
| 31-12-2019 | micro format | 01-02-2021 | 2021-04300142 | |
| 31-12-2018 | micro format | 08-09-2020 | 2020-51700021 | |
| 31-12-2017 | micro format | 31-08-2018 | 2018-61700352 | |
| 31-12-2016 | micro format | 30-08-2017 | 2017-54400518 | |
| 31-12-2015 | abbreviated format | 29-12-2016 | 2016-72100269 | |
| 31-12-2014 | abbreviated format | 19-11-2015 | 2015-67000517 | |
| 31-12-2013 | abbreviated format | 28-08-2014 | 2014-54400192 | |
| 31-12-2012 | abbreviated format | 31-08-2013 | 2013-56700315 | |
| 31-12-2011 | full format | 23-08-2012 | 2012-44200022 | |
| 31-12-2010 | full format | 02-08-2011 | 2011-36700466 | |
| 31-12-2009 | full format | 24-08-2010 | 2010-44100587 | |
| 31-12-2008 | full format | 10-08-2009 | 2009-56200279 | |
| 31-12-2007 | full format | 29-07-2008 | 2008-49400127 | |
| 31-12-2006 | full format | 14-08-2007 | 2007-56600072 | |
| 31-12-2005 | full format | 27-06-2006 | 2006-33603750 | |
| 31-12-2004 | full format | 27-06-2005 | 2005-34700742 | |
| 31-12-2003 | full format | 19-08-2004 | 2004-60603811 | |
| 31-12-2002 | full format | 29-07-2003 | 2003-54203958 | |
| 31-12-2001 | full format | 12-09-2002 | 2002-55404264 | |
| 31-12-2000 | full format | 29-06-2001 | 2001-31303174 | |
| 31-12-1999 | full format | 23-10-2000 | 2000-67300439 | |
| 31-12-1998 | full format | 28-10-1999 | 1999-55802785 | |
| 31-12-1997 | full format | 20-11-1998 | 1998-58404505 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 27,437 | 48,274 | 44,513 | 51,918 | 59,513 | 64,178 | 40,849 | 58,303 | 46,653 | 47,803 | 58,387 | 15,120 | 47,386 | 40,242 | 37,163 | 38,605 | 57,206 | 37,488 | 37,101 | 42,786 | ||
| 42,999 | 52,891 | 49,260 | 56,496 | 65,143 | 62,588 | 37,085 | 55,250 | 42,036 | 51,070 | 61,762 | 44,648 | 47,197 | 39,526 | 35,825 | 31,486 | 48,084 | 33,603 | 33,606 | 38,331 | ||
| 0 | 73,120 | 6,221 | 0 | 0 | 150,935 | 5,000 | 33,222 | 0 | 28,500 | 36,318 | 208,399 | 15,617 | 18,321 | 66,082 | 46,100 | 88,500 | 88,500 | 982 | 109,101 | ||
| 21,571 | -5,578 | 2,978 | -47,283 | 17,005 | 26,931 | 792 | -3,465 | -4,735 | -10,808 | 13,726 | - | - | -9,550 | - | - | - | 11,956 | -7,868 | - | ||
| 70,298 | 45,058 | 61,646 | 45,736 | 144,757 | 72,679 | 25,653 | 43,014 | 170,956 | 91,185 | 80,044 | 191,296 | 124,878 | 26,463 | 15,833 | -41,861 | -48,891 | -132,176 | -56,972 | -105,925 | ||
| 58.4% | 48.4% | 53.9% | 49.4% | 26.6% | 14.0% | 14.4% | 13.6% | 7.2% | 8.7% | 10.3% | 6.4% | 11.3% | 12.7% | 12.8% | 15.2% | 10.2% | 11.1% | 14.6% | 11.0% | ||
| 3.07 | 2.35 | 3.83 | 3.21 | 3.69 | 1.83 | 1.37 | 2.05 | 4.19 | 2.06 | 2.90 | 4.48 | 84.53 | 2.67 | 2.24 | 0.47 | 0.23 | 0.11 | 0.14 | 0.23 | ||
| 0.71 | 1.06 | 0.86 | 1.02 | 2.76 | 6.13 | 5.94 | 6.33 | 12.92 | 10.51 | 8.75 | 14.58 | 7.85 | 6.85 | 6.81 | 5.57 | 8.80 | 8.00 | 5.86 | 8.07 | ||
| 5.4% | 5.6% | 4.4% | 7.8% | 9.6% | 40.9% | -7.0% | 16.8% | -21.3% | -10.0% | 12.5% | 15.3% | 10.8% | -4.7% | -8.2% | 9.5% | 7.2% | 1.1% | -0.5% | -0.1% | ||
| 3.2% | 2.7% | 2.4% | 3.8% | 2.6% | 5.7% | -1.0% | 2.3% | -1.5% | -0.9% | 1.3% | 1.0% | 1.2% | -0.6% | -1.0% | 1.5% | 0.7% | 0.1% | -0.1% | 0.0% | ||
| 8.66 | 26.65 | 26.44 | 28.05 | 36.10 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €73,120 | €6,221 | - | - |
| €36,431 | €46,994 | €44,545 | €48,074 | €54,929 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a loss of €8,995, after a profit of €1,280 in 2024. It is the lowest result since 2014.
Debt's share of the balance-sheet total falls from 51.6% to 41.6%. Equity is higher and debt is lower.
MAC has no parent and no holdings in its annual accounts.
via , no longer at · Director · deed of 29-12-2020 |
founded in 1991 |
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Opheersstraat (Oph.) 111 registered office 3870 Heers 0130902 Crop and animal production, hunting and related service activities | 20-03-1997 | 2.080.970.692 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 73061B0115/00B000 | 4,909 m² | 1 · 1,667 m² | 15.9 m · 3 |
1 of these parcels carries protected heritage. Expect extra rules on renovation or sale.
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