Summary
MACAN.GROUP is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2024 annual accounts show equity of €5.6m and a net result of -€457,907. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 20% of 2817 sector peers (fiscal year 2024). The company has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
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 26-06-2025, 35 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
35 d early
2023
28 d early
2022
35 d early
2021
32 d early
2020
61 d early
2019
123 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 11 days before the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% of the sector filed late.
Checked, nothing found (1)
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check Which other companies belong to the same group?PHG ASSET MANAGEMENT · 11 companies What changed in the latest annual accounts?What changed
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2024, full schema
Equity
€5.6m▼ 7.6%
2023 · €6.0m
Net result
-€457,907▲ 18.2%
2023 · -€559,974
Total assets
€27.4m▲ 1.3%
2023 · €27.0m
Solvency
20.4%▼ 1.9pp
2023 · 22.3%
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Turnover€3,000€60,000▲ 1,900%
Operating result-€274,078▲ 43.3%€362,350-€410,261-€7,977▲ 98.1%-€55,118▼ 591%
Net result-€376,465below the sector's middle half▲ 29.2%€798,880within the sector's middle half-€882,719below the sector's middle half-€559,974below the sector's middle half▲ 36.6%-€457,907below the sector's middle half▲ 18.2%
Equity€1.3mwithin the sector's middle half▼ 22.7%€1.6mwithin the sector's middle half▲ 21.4%€6.6mwithin the sector's middle half▲ 324%€6.0mwithin the sector's middle half▼ 8.5%€5.6mwithin the sector's middle half▼ 7.6%
Total assets€11.5mwithin the sector's middle half▲ 10.9%€5.2mwithin the sector's middle half▼ 54.7%€26.7mwithin the sector's middle half▲ 414%€27.0mwithin the sector's middle half▲ 1.4%€27.4mwithin the sector's middle half▲ 1.3%
Debt€9.3m▲ 20.5%€3.6m▼ 61.0%€20.1m▲ 452%€21.0m▲ 4.6%€21.8m▲ 3.9%
Working capital-€7.5mbelow the sector's middle half▼ 6.7%-€3.6mbelow the sector's middle half▲ 51.5%€1.6mwithin the sector's middle half€706,128within the sector's middle half▼ 56.7%-€1.4mbelow the sector's middle half
Solvency11.2%below the sector's middle half▼ 4.9pp30.0%within the sector's middle half▲ 18.8pp24.7%below the sector's middle half▼ 5.2pp22.3%below the sector's middle half▼ 2.4pp20.4%below the sector's middle half▼ 1.9pp
Current ratio0.19below the sector's middle half▲ 0.110.00below the sector's middle half▼ 0.191.57within the sector's middle half▲ 1.571.20within the sector's middle half▼ 0.370.67within the sector's middle half▼ 0.53
Return on assets (ROA)-3.3%below the sector's middle half▲ 1.9pp15.4%above the sector's middle half▲ 18.7pp-3.3%below the sector's middle half▼ 18.7pp-2.1%below the sector's middle half▲ 1.2pp-1.7%below the sector's middle half▲ 0.4pp
Staff (FTE)1.5within the sector's middle half5.7within the sector's middle half▲ 280%5within the sector's middle half▼ 12.3%
above
within
below
the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €55,118 in 2024 against €7,977 in 2023; the loss grows.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €27.4m
Fixed assets
€24.6m ▲ 7.7%
Current assets
€2.8m ▼ 33.6%
Equity and liabilities €27.4m
Equity
€5.6m ▼ 7.6%
Provisions
€0 ▼ 100%
Debt
€21.8m ▲ 3.9%
Debt's share of the balance-sheet total rises from 77.6% to 79.6%. Equity is lower and debt is higher.
Key figures and ratios
ROE
-8.2%▲
2023 · -9.3%
Debt ≤ 1 year
€4.1m▲
2023 · €3.5m
Debt > 1 year
€17.6m▲
2023 · €17.4m
Income taxes
€6,293▲
2023 · -€1,594
Staff costs
€653,979▼
2023 · €672,316
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | €1.2m | €1.6m | €1.6m | ▲ 3.8% |
| Turnover70 | - | - | - | €3,000 | €60,000 | ▲ 1,900% |
| Other operating income74 | - | - | €1.2m | €1.6m | €1.5m | = |
| Non-recurring operating income76A | - | €703,159 | - | - | €2,318 | - |
| Operating charges60/66A | - | - | €1.6m | €1.6m | €1.7m | ▲ 6.8% |
| Services and other goods61 | - | - | €1.3m | €856,398 | €986,307 | ▲ 15.2% |
| Remuneration, social security and pensions62 | - | - | €174,925 | €672,316 | €653,979 | ▼ 2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €288,143 | - | - | €1,861 | €7,705 | ▲ 314% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €46,772 | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | €29,451 | -€29,451 | ▼ 200% |
| Other operating charges640/8 | - | €141,966 | €1,318 | €1,025 | €1,660 | ▲ 62.0% |
| Non-recurring operating charges66A | - | €258,132 | €209,546 | - | - | - |
| Gross operating margin9900 | €134,597 | €762,447 | - | - | - | - |
| Operating profit (loss)9901 | -€274,078 | €362,350 | -€410,261 | -€7,977 | -€55,118 | ▼ 591% |
| Financial income75/76B | - | €6 | €41,876 | €356,629 | €348,093 | ▼ 2.4% |
| Recurring financial income75 | €1 | €6 | €41,876 | €356,629 | €348,093 | ▼ 2.4% |
| Income from financial fixed assets750 | - | - | €28,206 | €177,944 | €177,505 | ▼ 0.2% |
| Income from current assets751 | - | - | €4,809 | €25,231 | €7,131 | ▼ 71.7% |
| Other financial income752/9 | - | - | €8,861 | €153,454 | €163,457 | ▲ 6.5% |
| Financial charges65/66B | - | €96,283 | €497,716 | €910,220 | €744,589 | ▼ 18.2% |
| Recurring financial charges65 | €143,713 | €96,283 | €497,716 | €910,220 | €744,589 | ▼ 18.2% |
| Debt charges650 | - | - | €427,495 | €791,465 | €761,169 | ▼ 3.8% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651 | - | - | €55,587 | €34,681 | -€90,268 | ▼ 360% |
| Other financial charges652/9 | - | - | €14,634 | €84,074 | €73,688 | ▼ 12.4% |
| Profit (loss) for the period before taxes9903 | -€417,790 | €266,073 | -€866,101 | -€561,568 | -€451,614 | ▲ 19.6% |
| Transfer from deferred taxes780 | - | €838,807 | - | - | - | - |
| Income taxes67/77 | - | €306,000 | €16,618 | -€1,594 | €6,293 | ▲ 495% |
| Taxes670/3 | - | - | €26,673 | €7,589 | €6,293 | ▼ 17.1% |
| Tax adjustments and reversals of tax provisions77 | - | - | €10,056 | €9,183 | - | - |
| Profit (loss) for the period9904 | -€376,465 | €798,880 | -€882,719 | -€559,974 | -€457,907 | ▲ 18.2% |
| Transfer from tax-exempt reserves789 | - | €2.0m | - | - | €1.1m | - |
| Transfer to tax-exempt reserves689 | - | €1.1m | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | -€252,488 | €1.6m | -€882,719 | -€559,974 | €683,003 | ▲ 222% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €11.5m | €5.2m | €26.7m | €27.0m | €27.4m | ▲ 1.3% |
| Fixed assets21/28 | €9.7m | €5.2m | €22.2m | €22.8m | €24.6m | ▲ 7.7% |
| Tangible fixed assets22/27 | €4.5m | - | - | €11,577 | €11,170 | ▼ 3.5% |
| Furniture and vehicles24 | - | - | - | €11,577 | €11,170 | ▼ 3.5% |
| Financial fixed assets28 | €5.2m | €5.2m | €22.2m | €22.8m | €24.6m | ▲ 7.7% |
| Affiliated companies280/1 | - | - | €22.2m | €22.8m | €24.6m | ▲ 7.7% |
| Participating interests280 | - | - | €19.9m | €19.9m | €19.9m | = |
| Amounts receivable281 | - | - | €2.3m | €3.0m | €4.7m | ▲ 58.9% |
| Current assets29/58 | €1.8m | €12,898 | €4.5m | €4.2m | €2.8m | ▼ 33.6% |
| Amounts receivable within one year40/41 | €1.8m | €10,623 | €1.7m | €2.2m | €2.7m | ▲ 19.4% |
| Trade receivables40 | - | €168 | €1.2m | €1.5m | €1.9m | ▲ 25.5% |
| Other amounts receivable41 | - | €10,455 | €560,032 | €719,533 | €765,181 | ▲ 6.3% |
| Current investments50/53 | - | - | €1.6m | €1.8m | - | - |
| Other investments51/53 | - | - | €1.6m | €1.8m | - | - |
| Cash at bank and in hand54/58 | €32,551 | €2,275 | €1.1m | €118,192 | €63,598 | ▼ 46.2% |
| Deferred charges and accrued income490/1 | - | - | €1,290 | €35,723 | €45,654 | ▲ 27.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €11.5m | €5.2m | €26.7m | €27.0m | €27.4m | ▲ 1.3% |
| Equity10/15 | €1.3m | €1.6m | €6.6m | €6.0m | €5.6m | ▼ 7.6% |
| Contributions10/11 | €63,000 | €63,000 | €5.5m | €5.5m | €5.5m | = |
| Capital10 | - | €63,000 | €5.5m | €5.5m | €5.5m | = |
| Issued capital100 | - | €63,000 | €5.5m | €5.5m | €5.5m | = |
| Reserves13 | €2.0m | €1.1m | €1.2m | €1.2m | €1.2m | = |
| Non-distributable reserves130/1 | - | €6,300 | €64,460 | €64,460 | €64,460 | = |
| Legal reserve130 | - | €6,300 | €64,460 | €64,460 | €64,460 | = |
| Tax-exempt reserves132 | - | €1.1m | €1.1m | €1.1m | - | - |
| Distributable reserves133 | - | - | - | - | €1.1m | - |
| Profit (loss) carried forward14 | -€759,277 | €345,016 | -€90,508 | -€650,482 | -€1.1m | ▼ 70.4% |
| Provisions and deferred taxes16 | €838,807 | - | - | €29,451 | - | - |
| Provisions for liabilities and charges160/5 | - | - | - | €29,451 | - | - |
| Taxes161 | - | - | - | €29,451 | - | - |
| Amounts payable17/49 | €9.3m | €3.6m | €20.1m | €21.0m | €21.8m | ▲ 3.9% |
| Amounts payable after more than one year17 | - | - | €17.1m | €17.4m | €17.6m | ▲ 1.4% |
| Financial debts170/4 | - | - | €3.2m | €3.4m | - | - |
| Unsubordinated bonds171 | - | - | €3.2m | €3.4m | - | - |
| Other amounts payable178/9 | - | - | €13.9m | €14.0m | €17.6m | ▲ 26.1% |
| Amounts payable within one year42/48 | €9.3m | €3.6m | €2.9m | €3.5m | €4.1m | ▲ 18.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €2.4m | - |
| Financial debts43 | - | - | €1.2m | €1.3m | - | - |
| Credit institutions430/8 | - | - | €1.2m | €1.3m | - | - |
| Trade debts44 | €251,765 | €5,582 | €833,175 | €773,411 | €233,076 | ▼ 69.9% |
| Suppliers440/4 | - | €5,582 | €833,175 | €773,411 | €233,076 | ▼ 69.9% |
| Taxes, remuneration and social security45 | - | €35,000 | €65,156 | €87,088 | €165,201 | ▲ 89.7% |
| Taxes450/3 | - | €35,000 | €24,944 | - | €24,230 | - |
| Remuneration and social security454/9 | - | - | €40,212 | €87,088 | €140,971 | ▲ 61.9% |
| Other amounts payable47/48 | - | €3.6m | €722,849 | €1.4m | €1.4m | ▼ 0.1% |
| Accrued charges and deferred income492/3 | - | €33 | €80,017 | €96,087 | €31,737 | ▼ 67.0% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€376,465 | €798,880 | -€882,719 | -€559,974 | -€457,907 | ▲ 18.2% |
| + Depreciation and write-downs630 | €288,143 | - | - | €1,861 | €7,705 | ▲ 314% |
| Operating cash flow (approximation) | -€88,321 | €798,880 | -€882,719 | -€558,113 | -€450,202 | ▲ 19.3% |
| Investment in fixed assets (approximation) | - | €4.5m | -€17.0m | -€681,338 | -€1.8m | ▼ 158% |
| Change in cash | - | -€30,276 | €1.1m | -€1.0m | -€54,594 | ▲ 94.7% |
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
2025
26-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
03-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
26-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Liquidity times 442current ratio 1.57
Current ratio from 0.00 to 1.57; short-term debt falls from €3.6m to €2.9m.
31-12
Financial
Equity above €5mEq €6.6m ▲324%
Equity rises from €1.6m to €6.6m.
29-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Back to profitnet €798,880
Net result €798,880 after 3 loss-making years.
31-05
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
01-12
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 123 days late
2019
22-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 22 days late
16-01
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 169 days late
2017
04-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 4 days late
2016
30-06
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 20 acts read
About the unread acts
We know of 20 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
20 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, Brussel · 1 establishment unit since 2000
Ground area
1,994 m²
Building footprint
1,999 m²
Volume, LiDAR
53,106 m³
2 parcels, Brussels · tallest building 46.6 m, ±13 floors. Linked by address, not a title deed.
284
companies at this address
See who is registered here
1 establishment unit
Louizalaan 380, 1050 Elsene
since 20002.093.573.467
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21807G0135/00T003 | Brussels | 1,574 m² | 1 · 1,579 m² | 46.6 m · 13 fl. |
| 21807G0180/00P004 | Brussels | 420 m² | 1 · 419 m² | 26.2 m · 7 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Part of the group
PHG ASSET MANAGEMENT
11 companies
Group, risk and exposure
Owners and holdings
1 owner · 11 holdings · 17 subsidiaries in the treeChain of control
- PHG ASSET MANAGEMENT
- MACAN.GROUP
Highest known parent: PHG ASSET MANAGEMENT. The sources do not say who stands above it.
Owners 1
-
100%
Holdings 11
-
100%
-
100%
-
100%
-
99.87%
- MD2 REAL ESTATEsubsidiarySourceown accounts 202499.8%
- MD3 REAL ESTATEsubsidiarySourceown accounts 202499.8%
- MD4 REAL ESTATEsubsidiarySourceown accounts 202499.8%
-
51%
-
51%
-
51%
Show 1 more holdings
-
1%
Stated earlier (1)
An older source named these holdings; newer accounts no longer list them.
-
50.3%
All subsidiaries, including indirect ones 17
Companies in which this company or one of its subsidiaries holds more than half, or which it consolidates according to the LEI register.
BELGIUM SR 100%1 subsidiary
- MARRAKECH SRMA 90%
- CASTELL MANAGEMENT 100%
- MACAN DEVELOPMENT BENELUXLU 100%
MACAN DEVELOPMENT 99.87%6 subsidiaries
- Immobiliére des vignes 100%
- MD1 CENTER HOUSE 100%
- PARMENTIER DEVELOPMENT 100%
- SAULES INVEST 100%
- SILICONE MARCHE 100%
- IMMO BERVOETS 99%
- MD2 REAL ESTATE 99.8%
- MD3 REAL ESTATE 99.8%
- MD4 REAL ESTATE 99.8%
- ANTWERP SR 51%
- BRUSSELS SR 51%
- KNOKKE SR 51%
According to the 2024 annual accounts of MACAN.GROUP and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Recognitions · licences · registrations
Legal Entity Identifier
699400UDT3P7L62GCV45
Similar companies · same sector, comparable size
Furn Holding
BE 1015.008.988
Tessenderlo · Eq €5,578,986
NOORDZEEDREEF
BE 0751.926.182
Koksijde · Eq €5,580,350
AHC-GROUP
BE 0817.389.603
Tongeren-Borgloon · Eq €5,580,775
Clear Vision België
BE 0803.499.203
Beveren-Kruibeke-Zwijndrecht · Eq €5,574,887
CELERO
BE 0631.847.904
Lasne · Eq €5,584,242
Of 24,728 companies in sector 64210 we hold annual accounts for 19,805. 7,812 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded29-06-1999
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
82990Other business support services
70100Activities of head offices
E-invoicing
Reachable via Peppol
Peppol ID
0208:0466381344
Registered
05-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.