MACEES
ActiveSummary
MACEES has been active since 1999 and the Belgian State Gazette contains no insolvency signals. The CBE does carry 1 administrative register entry (see administrative flags). The 2024 annual accounts show equity of €119,972 and a net result of €11,325. Equity is shrinking by ~6.1% per year across the filed fiscal years. Its solvency ranks better than 59% of 15372 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability77▲+56
Solvency92▲+10
Growth58▲+26
Track record92
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €10,000 at 30 days acceptable
Liquidity ample (current ratio 4.86 against 2.29 in 2023; short-term debt: 12.5% of total assets), and 33% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 69
Relative position
BE, all sectors
reference
Legal and accounting activities (NACE 69)
about 77% fewer bankruptcies
← 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
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-09-2025, 61 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
61 d late
2023
89 d late
2022
81 d late
2021
84 d late
2020
89 d late
2019
122 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 88 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
raises risk · Administrative warnings in the KBO publications
1 publication by the FPS Economy about this company, such as a strike-off for address, accounts or UBO, or its withdrawal.
KBO publicationsPublications
UBO non-compliance
History
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Financials · fiscal year 2024, micro schema
Equity
€119,972▲ 10.4%
2023 · €108,647
Total assets
€179,009▼ 5.9%
2023 · €190,167
Net result
€11,325
2023 · -€23,234
Working capital
€86,441▲ 56.9%
2023 · €55,082
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 69, Legal and accounting activities, 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
Operating result€1,583▼ 52.9%-€3,834-€30,300▼ 690%-€20,424▲ 32.6%€15,183
Net result€1,229below the sector's middle half▼ 43.1%-€7,534below the sector's middle half-€32,083below the sector's middle half▼ 326%-€23,234below the sector's middle half▲ 27.6%€11,325within the sector's middle half
Equity€171,498within the sector's middle half▲ 0.7%€163,964within the sector's middle half▼ 4.4%€131,881within the sector's middle half▼ 19.6%€108,647within the sector's middle half▼ 17.6%€119,972within the sector's middle half▲ 10.4%
Total assets€317,519within the sector's middle half▼ 3.1%€255,330within the sector's middle half▼ 19.6%€238,536within the sector's middle half▼ 6.6%€190,167within the sector's middle half▼ 20.3%€179,009within the sector's middle half▼ 5.9%
Debt€146,021▼ 7.2%€91,366▼ 37.4%€106,655▲ 16.7%€81,520▼ 23.6%€59,038▼ 27.6%
Working capital€106,665within the sector's middle half▼ 2.1%€79,259within the sector's middle half▼ 25.7%€63,796within the sector's middle half▼ 19.5%€55,082within the sector's middle half▼ 13.7%€86,441within the sector's middle half▲ 56.9%
Solvency54.0%within the sector's middle half▲ 2.0pp64.2%within the sector's middle half▲ 10.2pp55.3%within the sector's middle half▼ 8.9pp57.1%within the sector's middle half▲ 1.8pp67.0%within the sector's middle half▲ 9.9pp
Current ratio2.73within the sector's middle half▼ 0.144.57above the sector's middle half▲ 1.842.22within the sector's middle half▼ 2.352.29within the sector's middle half▲ 0.074.86above the sector's middle half▲ 2.58
Return on assets (ROA)0.4%below the sector's middle half▼ 0.3pp-3.0%below the sector's middle half▼ 3.3pp-13.4%below the sector's middle half▼ 10.5pp-12.2%below the sector's middle half▲ 1.2pp6.3%within the sector's middle half▲ 18.5pp
above
within
below
the middle half (P25 to P75) of NACE 69, Legal and accounting activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €15,183 after a loss of €20,424 in 2023, the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €179,009
Fixed assets
€70,198 ▼ 24.0%
Current assets
€108,812 ▲ 11.2%
Equity and liabilities €179,009
Equity
€119,972 ▲ 10.4%
Debt
€59,038 ▼ 27.6%
Debt's share of the balance-sheet total falls from 42.9% to 33.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€44,054▲
2023 · €9,827
Cash flow
€40,196▲
2023 · €7,017
Debt to equity
0.49▼
2023 · 0.75
ROE
9.4%▲
2023 · -21.4%
Interest coverage
12.36▲
2023 · 2.15
Debt ≤ 1 year
€22,371▼
2023 · €42,753
Debt > 1 year
€36,667▼
2023 · €37,267
Income taxes
€293
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,370 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.5%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.5% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 31,370 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €25,380 | €31,921 | €31,297 | €30,251 | €28,871 | ▼ 4.6% |
| Other operating charges640/8 | - | €4,543 | €2,090 | €10,610 | €1,040 | ▼ 90.2% |
| Gross operating margin9900 | €31,158 | €32,629 | €3,087 | €20,436 | €45,094 | ▲ 121% |
| Operating profit (loss)9901 | €1,583 | -€3,834 | -€30,300 | -€20,424 | €15,183 | ▲ 174% |
| Financial income75/76B | - | €1,378 | €1,913 | €1,760 | - | - |
| Recurring financial income75 | €8,627 | €1,378 | €1,913 | €1,760 | - | - |
| Financial charges65/66B | - | €2,752 | €3,544 | €4,570 | €3,565 | ▼ 22.0% |
| Recurring financial charges65 | €5,831 | €2,752 | €3,544 | €4,570 | €3,565 | ▼ 22.0% |
| Profit (loss) for the period before taxes9903 | €4,379 | -€5,209 | -€31,930 | -€23,234 | €11,618 | ▲ 150% |
| Income taxes67/77 | €3,150 | €2,325 | €152 | - | €293 | - |
| Profit (loss) for the period9904 | €1,229 | -€7,534 | -€32,083 | -€23,234 | €11,325 | ▲ 149% |
| Profit (loss) for the period to be appropriated9905 | €1,229 | -€7,534 | -€32,083 | -€23,234 | €11,325 | ▲ 149% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €317,519 | €255,330 | €238,536 | €190,167 | €179,009 | ▼ 5.9% |
| Fixed assets21/28 | €149,231 | €153,880 | €122,583 | €92,332 | €70,198 | ▼ 24.0% |
| Tangible fixed assets22/27 | €141,731 | €146,380 | €115,083 | €84,832 | €62,698 | ▼ 26.1% |
| Land and buildings22 | - | €95,116 | €76,093 | €57,070 | €38,046 | ▼ 33.3% |
| Plant, machinery and equipment23 | - | €600 | €273 | - | - | - |
| Furniture and vehicles24 | - | €1,313 | €919 | €525 | €6,464 | ▲ 1,130% |
| Other tangible fixed assets26 | - | €49,350 | €37,798 | €27,237 | €18,187 | ▼ 33.2% |
| Financial fixed assets28 | €7,500 | €7,500 | €7,500 | €7,500 | €7,500 | = |
| Current assets29/58 | €168,288 | €101,450 | €115,953 | €97,835 | €108,812 | ▲ 11.2% |
| Amounts receivable within one year40/41 | €167,091 | €92,805 | €115,953 | €96,991 | €107,874 | ▲ 11.2% |
| Trade receivables40 | - | €2,125 | €15,997 | €3,659 | €13,007 | ▲ 255% |
| Other amounts receivable41 | - | €90,680 | €99,956 | €93,332 | €94,866 | ▲ 1.6% |
| Cash at bank and in hand54/58 | - | €7,430 | - | - | - | - |
| Deferred charges and accrued income490/1 | - | €1,215 | - | €844 | €938 | ▲ 11.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €317,519 | €255,330 | €238,536 | €190,167 | €179,009 | ▼ 5.9% |
| Equity10/15 | €171,498 | €163,964 | €131,881 | €108,647 | €119,972 | ▲ 10.4% |
| Contributions10/11 | - | €6,208 | €6,208 | €6,208 | €6,208 | = |
| Reserves13 | €147,860 | €147,860 | €147,860 | €147,860 | €147,860 | = |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | €146,000 | €146,000 | €146,000 | €146,000 | = |
| Profit (loss) carried forward14 | €17,430 | €9,896 | -€22,187 | -€45,421 | -€34,096 | ▲ 24.9% |
| Amounts payable17/49 | €146,021 | €91,366 | €106,655 | €81,520 | €59,038 | ▼ 27.6% |
| Amounts payable after more than one year17 | €82,898 | €67,675 | €52,998 | €37,267 | €36,667 | ▼ 1.6% |
| Financial debts170/4 | - | €67,675 | €52,398 | €36,667 | €36,667 | = |
| Other amounts payable178/9 | - | - | €600 | €600 | - | - |
| Amounts payable within one year42/48 | €61,623 | €22,190 | €52,157 | €42,753 | €22,371 | ▼ 47.7% |
| Current portion of amounts payable after more than one year42 | - | €15,222 | €15,398 | €15,731 | - | - |
| Financial debts43 | - | - | €20,552 | €18,163 | €9,252 | ▼ 49.1% |
| Credit institutions430/8 | - | - | €20,552 | €18,163 | €9,252 | ▼ 49.1% |
| Trade debts44 | €11,852 | €1,511 | €9,292 | €7,351 | €11,624 | ▲ 58.1% |
| Suppliers440/4 | - | €1,511 | €9,292 | €7,351 | €11,624 | ▲ 58.1% |
| Advances received on contracts in progress46 | - | - | €4,604 | - | - | - |
| Taxes, remuneration and social security45 | - | €4,284 | €1,126 | €323 | €293 | ▼ 9.4% |
| Taxes450/3 | - | €4,284 | €1,126 | €323 | €293 | ▼ 9.4% |
| Other amounts payable47/48 | - | €1,173 | €1,184 | €1,184 | €1,202 | ▲ 1.5% |
| Accrued charges and deferred income492/3 | - | €1,500 | €1,500 | €1,500 | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,229 | -€7,534 | -€32,083 | -€23,234 | €11,325 | ▲ 149% |
| + Depreciation and write-downs630 | €25,380 | €31,921 | €31,297 | €30,251 | €28,871 | ▼ 4.6% |
| Operating cash flow (approximation) | €26,609 | €24,387 | -€786 | €7,017 | €40,196 | ▲ 473% |
| Investment in fixed assets (approximation) | - | -€36,570 | €0 | €0 | -€6,737 | - |
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
2026
22-06
State Gazette act
Resignation: HEENAN Brona Mary (manager)Appointment: EDWARDS Graham Allen (non-statutory director) · Director discharge · Board rule18 facts ▸
State Gazette act
Resignation: HEENAN Brona Mary (manager)
Appointment: EDWARDS Graham Allen (non-statutory director) · Director discharge · Board rule18 facts ▸
- Director resignation, HEENAN Brona Mary (manager)
- Director discharge, HEENAN Brona Mary
- Board rule, 1, assemblée générale
- Director appointment, EDWARDS Graham Allen (non-statutory director)
- Registered office clause, déclaration et précision, 1080 Molenbeek-Saint-Jean,Quai des Charbonnages 8 boite 12
- Power of attorney
- Power of attorney, Katrien VAN STEENKISTE
- General meeting, Assemblée Générale Extraordinaire, 1080 Molenbeek-Saint-Jean,Quai des Charbonnages 4-8
- Other statement, ordre du jour
- Director in office, HEENAN Brona (director)
- Statutes amendment
- Capital conversion, compte de capitaux propres statutairement indisponible
- +6 further facts in this act
2025
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 61 days late
2024
31-12
Financial
Back to profitnet €11,325
Net result €11,325 after 3 loss-making years.
31-12
Financial
Liquidity doublescurrent ratio 4.86
Current ratio from 2.29 to 4.86; short-term debt falls from €42,753 to €22,371.
31-10
KBO administration
UBO non-compliance
event 21-10-2024
28-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 89 days late
2023
20-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 81 days late
2022
31-12
Financial
Weakest financial yearnet -€32,083
Net result drops to -€32,083, the lowest in the series; recovery starts the following year.
23-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 84 days late
2021
28-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 89 days late
2020
30-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 122 days late
10-02
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 194 days late
Show earlier events
2019
18-11
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 475 days late
2017
29-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 60 days late
2016
30-09
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 61 days late
SignalFinancial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 1 act read
Directors · office · real estate
Directors
1 director, no change since 2026
EDWARDS Graham Allen
CurrentNon-statutory director · since 22-06-2026
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Location & real-estate footprint
Registered office, Sint-Jans-Molenbeek · 1 establishment unit since 2010
Ground area
979 m²
Building footprint
978 m²
Volume, LiDAR
13,169 m³
Parcel 21522B0406/00G000, Brussels · tallest building 21.1 m, ±5 floors. Linked by address, not a title deed.
18
companies at this address
See who is registered here
1 establishment unit
Koolmijnenkaai 8, 1080 Sint-Jans-Molenbeek
since 20102.365.609.175
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21522B0406/00G000 | Brussels | 978 m² | 1 · 978 m² | 21.1 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
2 people since 2026, 1 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| EDWARDS Graham Allen |
|
| HEENAN Brona Mary |
|
Articles of association
Annual meeting
First Monday of June at 18:30
Duration
Unlimited
Purpose
La tenue d'un bureau d'étude et d'organisation en matière juridique,financière et administrative; La réalisation de travaux de construction,de transformation ou de rénovation de…
Full purpose (8 activities)
- La tenue d'un bureau d'étude et d'organisation en matière juridique,financière et administrative.
- La réalisation de travaux de construction,de transformation ou de rénovation de biens immobiliers;
- La construction de tous bâtiments et édifices de préférence pour tout particulier,entreprise ou administration dans le cadre de contrats publics et privés;
- Tous travaux d'entretien et de réparation de bâtiments;
- Tous travaux de démolition et de concassage;
- Tous travaux d'aménagements intérieurs et extérieurs,de parachèvements,de revêtements et d'installations sanitaires et électriques;
- La location de tout matériel en relation avec son objet;
- La participation,sous quelque forme que ce soit,à des entreprises existantes ou à créer ayant un objet identique,analogue ou connexe.
Other statement
Date à laquelle le Code des sociétés et des associations devient applicable à la société, compte de capitaux propres statutairement indisponible
Appels de fonds, actions doivent être libérées à leur émission
Actions nouvelles à souscrire en numéraire offertes par préférence aux actionnaires existants proportionnellement aux actions détenues, apport en numéraire avec…
Nominatives, nature des actions
Organe d'administration, distributions provenant du bénéfice de l'exercice en cours ou du bénéfice de l'exercice précédent tant que comptes annuels non approuvé…
Organe détermine s'ils agissent seul ou conjointement, organe fixe attributions et rémunérations éventuelles
Admission à l'assemblée générale, titulaire de titres nominatifs inscrit dans le registre des titres nominatifs relatif à sa catégorie
Administrateur ou,à défaut,actionnaire présent détenant le plus d'actions ou,en cas de parité,le plus âgé, séances-procès-verbaux
Tout actionnaire peut donner à toute autre personne,actionnaire ou non,par tout moyen de transmission,une procuration écrite;valable pour assemblées suivantes s…
Répartition-réserves, assemblée générale sur proposition de l'organe d'administration
Siège, élection de domicile
Tribunaux du siège,compétence exclusive, compétence judiciaire
Droit commun, dispositions du Code des sociétés et des associations auxquelles il ne serait pas licitement dérogé réputées inscrites
2 more provisions on this in the deed
Transfer restriction
Tenus de solliciter agrément selon mêmes formalités s'ils ne deviennent pas de plein droit actionnaires, libre de céder tout ou partie librement si société ne c…
Board rule
Avec ou sans limitation de durée, organe d'administration
1 more provision on this in the deed
Dissolution rule
Formes prévues pour les modifications aux statuts, dissolution en tout temps
Liquidation rule
Dissolution pour quelque cause et à quelque moment que ce soit, faculté de désigner un ou plusieurs liquidateurs et déterminer pouvoirs et émoluments
Liquidation distribution
Actif net réparti entre tous actionnaires en proportion de leurs actions,biens conservés remis pour partage même proportion, apurement dettes,charges et frais o…
Name clause
Registered office clause
Faire constater authentiquement modification statutaire, Région de Bruxelles-Capitale
Structure & network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
+N: links not shown yet
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Capital and shareholders
Capital over the years
- 22-06-2026 Converted to unavailable equity
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Of 22,076 companies in sector 69101 we hold annual accounts for 9,061. 7,566 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded17-05-1999
Fiscal year end31-12
Legal name FR
MACULAW
Activities, NACEBEL 2025
69101Activities of lawyers
69109Other legal services
73200Market research and public opinion polling
E-invoicing
Reachable via Peppol
Peppol ID
0208:0466061541
Also
9925:BE0466061541
Registered
20-07-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.