MACELI
ActiveSummary
MACELI has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €202,198 and a net result of €27,588. Equity is growing by ~12.3% per year across the filed fiscal years. Its solvency ranks better than 65% of 18606 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability77▲+10
Solvency76▲+12
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
1.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €13,000 at 30 days acceptable
Liquidity tight (current ratio 1.05 against 0.94 in 2024; short-term debt: 49% and cash: 18.2% of total assets), and 49% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
51%
Return on assets
7%
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 08-06-2026, 53 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
53 d early
2024
41 d early
2023
58 d early
2022
69 d early
2021
72 d early
2020
47 d early
2019
49 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 56 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (2)
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
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€27,588▲ 428%
2024 · €5,226
Working capital
€8,981
2024 · -€14,238
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, 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
Line20212022202320242025
Operating result€101,369▲ 28.4%€14,954▼ 85.2%€48,321▲ 223%€29,421▼ 39.1%€47,574▲ 61.7%
Net result€81,117within the sector's middle half▲ 18.8%€3,023within the sector's middle half▼ 96.3%€13,644within the sector's middle half▲ 351%€5,226within the sector's middle half▼ 61.7%€27,588above the sector's middle half▲ 428%
Equity€176,317within the sector's middle half▲ 85.2%€179,340within the sector's middle half▲ 1.7%€174,384above the sector's middle half▼ 2.8%€174,610above the sector's middle half▲ 0.1%€202,198above the sector's middle half▲ 15.8%
Total assets€563,689within the sector's middle half▲ 6.0%€533,422within the sector's middle half▼ 5.4%€500,543above the sector's middle half▼ 6.2%€445,279above the sector's middle half▼ 11.0%€396,116above the sector's middle half▼ 11.0%
Debt€387,372▼ 11.3%€354,082▼ 8.6%€326,159▼ 7.9%€270,669▼ 17.0%€193,918▼ 28.4%
Working capital€71,922within the sector's middle half▼ 1.4%€27,589within the sector's middle half▼ 61.6%€12,982within the sector's middle half▼ 52.9%-€14,238below the sector's middle half€8,981within the sector's middle half
Solvency31.3%within the sector's middle half▲ 13.4pp33.6%within the sector's middle half▲ 2.3pp34.8%within the sector's middle half▲ 1.2pp39.2%within the sector's middle half▲ 4.4pp51.0%within the sector's middle half▲ 11.8pp
Current ratio1.41within the sector's middle half▼ 0.071.14within the sector's middle half▼ 0.271.06within the sector's middle half▼ 0.080.94within the sector's middle half▼ 0.121.05within the sector's middle half▲ 0.11
Return on assets (ROA)14.4%above the sector's middle half▲ 1.5pp0.6%within the sector's middle half▼ 13.8pp2.7%within the sector's middle half▲ 2.2pp1.2%within the sector's middle half▼ 1.6pp7.0%within the sector's middle half▲ 5.8pp
Staff (FTE)6.6within the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 62% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €396,116
Fixed assets
€193,217 ▼ 14.8%
Current assets
€202,899 ▼ 7.1%
Equity and liabilities €396,116
Equity
€202,198 ▲ 15.8%
Debt
€193,918 ▼ 28.4%
Debt's share of the balance-sheet total falls from 60.8% to 49.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€93,018▲
2024 · €77,357
Cash flow
€73,032▲
2024 · €53,162
Quick ratio
0.56▲
2024 · 0.52
Debt to equity
0.96▼
2024 · 1.55
ROE
13.6%▲
2024 · 3.0%
Interest coverage
8.26▲
2024 · 5.67
Debt ≤ 1 year
€193,918▼
2024 · €232,668
Income taxes
€8,863▼
2024 · €10,555
Staff costs
€376,400▲
2024 · €327,944
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,970 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.5%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.5% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 26,970 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €222,474 | €248,549 | €277,997 | €327,944 | €376,400 | ▲ 14.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €40,292 | €47,413 | €50,852 | €47,936 | €45,444 | ▼ 5.2% |
| Other operating charges640/8 | €1,304 | €1,231 | €1,198 | €1,853 | €1,628 | ▼ 12.1% |
| Non-recurring operating charges66A | - | - | €576 | - | - | - |
| Gross operating margin9900 | €365,439 | €312,147 | €378,944 | €407,154 | €471,046 | ▲ 15.7% |
| Operating profit (loss)9901 | €101,369 | €14,954 | €48,321 | €29,421 | €47,574 | ▲ 61.7% |
| Financial income75/76B | - | - | - | - | €143 | - |
| Recurring financial income75 | - | - | - | - | €143 | - |
| Financial charges65/66B | €16,080 | €10,741 | €11,437 | €13,640 | €11,266 | ▼ 17.4% |
| Recurring financial charges65 | €16,080 | €10,741 | €11,437 | €13,640 | €11,266 | ▼ 17.4% |
| Profit (loss) for the period before taxes9903 | €85,289 | €4,213 | €36,884 | €15,781 | €36,451 | ▲ 131% |
| Income taxes67/77 | €4,172 | €1,190 | €23,240 | €10,555 | €8,863 | ▼ 16.0% |
| Profit (loss) for the period9904 | €81,117 | €3,023 | €13,644 | €5,226 | €27,588 | ▲ 428% |
| Profit (loss) for the period to be appropriated9905 | €81,117 | €3,023 | €13,644 | €5,226 | €27,588 | ▲ 428% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €563,689 | €533,422 | €500,543 | €445,279 | €396,116 | ▼ 11.0% |
| Formation expenses20 | €537 | €279 | €22 | €0 | - | - |
| Fixed assets21/28 | €314,528 | €305,969 | €258,334 | €226,849 | €193,217 | ▼ 14.8% |
| Tangible fixed assets22/27 | €299,094 | €285,736 | €239,168 | €205,389 | €170,110 | ▼ 17.2% |
| Plant, machinery and equipment23 | €215,444 | €197,262 | €173,849 | €151,667 | €132,575 | ▼ 12.6% |
| Furniture and vehicles24 | €83,650 | €88,474 | €65,319 | €53,722 | €37,535 | ▼ 30.1% |
| Financial fixed assets28 | €15,434 | €20,233 | €19,166 | €21,460 | €23,107 | ▲ 7.7% |
| Current assets29/58 | €248,624 | €227,174 | €242,187 | €218,430 | €202,899 | ▼ 7.1% |
| Stocks and contracts in progress3 | €84,205 | €88,416 | €88,452 | €98,018 | €94,188 | ▼ 3.9% |
| Stocks30/36 | €84,205 | €88,416 | €88,452 | €98,018 | €94,188 | ▼ 3.9% |
| Amounts receivable within one year40/41 | €32,527 | €31,507 | €42,056 | €42,800 | €36,606 | ▼ 14.5% |
| Trade receivables40 | €32,527 | €15,601 | €26,193 | €27,355 | €29,076 | ▲ 6.3% |
| Other amounts receivable41 | - | €15,906 | €15,863 | €15,445 | €7,530 | ▼ 51.2% |
| Cash at bank and in hand54/58 | €131,892 | €107,251 | €108,079 | €76,897 | €72,105 | ▼ 6.2% |
| Deferred charges and accrued income490/1 | - | - | €3,600 | €715 | €0 | ▼ 100% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €563,689 | €533,422 | €500,543 | €445,279 | €396,116 | ▼ 11.0% |
| Equity10/15 | €176,317 | €179,340 | €174,384 | €174,610 | €202,198 | ▲ 15.8% |
| Contributions10/11 | €18,600 | €18,600 | €5,000 | €5,000 | €5,000 | = |
| Outside capital11 | €18,600 | €18,600 | - | - | €5,000 | - |
| Other1109/19 | €18,600 | €18,600 | - | - | €5,000 | - |
| Reserves13 | €3,830 | €3,830 | €3,830 | €3,830 | €26,330 | ▲ 587% |
| Non-distributable reserves130/1 | €3,830 | €3,830 | €3,830 | €3,830 | €3,830 | = |
| Reserves not available under the articles1311 | €3,830 | €3,830 | €3,830 | €3,830 | €3,830 | = |
| Distributable reserves133 | - | - | - | - | €22,500 | - |
| Profit (loss) carried forward14 | €153,887 | €156,910 | €165,554 | €165,780 | €170,868 | ▲ 3.1% |
| Amounts payable17/49 | €387,372 | €354,082 | €326,159 | €270,669 | €193,918 | ▼ 28.4% |
| Amounts payable after more than one year17 | €210,670 | €154,497 | €96,954 | €38,001 | - | - |
| Financial debts170/4 | €210,670 | €154,497 | €96,954 | €38,001 | - | - |
| Amounts payable within one year42/48 | €176,702 | €199,585 | €229,205 | €232,668 | €193,918 | ▼ 16.7% |
| Current portion of amounts payable after more than one year42 | €54,840 | €56,173 | €57,543 | €58,952 | €38,001 | ▼ 35.5% |
| Trade debts44 | €115,978 | €127,468 | €133,966 | €163,213 | €142,971 | ▼ 12.4% |
| Suppliers440/4 | €115,978 | €127,468 | €133,966 | €163,213 | €142,971 | ▼ 12.4% |
| Taxes, remuneration and social security45 | €5,803 | €15,863 | €20,439 | €5,578 | €10,248 | ▲ 83.7% |
| Taxes450/3 | €5,803 | - | €1,661 | €3,080 | €7,631 | ▲ 148% |
| Remuneration and social security454/9 | - | €15,863 | €18,778 | €2,498 | €2,617 | ▲ 4.8% |
| Other amounts payable47/48 | €81 | €81 | €17,257 | €4,925 | €2,698 | ▼ 45.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €81,117 | €3,023 | €13,644 | €5,226 | €27,588 | ▲ 428% |
| + Depreciation and write-downs630 | €40,292 | €47,413 | €50,852 | €47,936 | €45,444 | ▼ 5.2% |
| Operating cash flow (approximation) | €121,409 | €50,436 | €64,496 | €53,162 | €73,032 | ▲ 37.4% |
| Investment in fixed assets (approximation) | - | -€38,854 | -€3,217 | -€16,451 | -€11,812 | ▲ 28.2% |
| Change in cash | - | -€24,641 | €828 | -€31,182 | -€4,792 | ▲ 84.6% |
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
Next filing, fiscal year 2026, expected by
2026
08-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Equity above €200,000Eq €202,198 ▲15.8%
7 profitable years in a row build equity to €202,198.
20-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
03-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
23-05
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Weakest financial yearnet €3,023 ▼96.3%
Net result drops to €3,023, the lowest in the series; recovery starts the following year.
20-05
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Highest result since 2019net €81,117 ▲18.8%
Operating result €101,369, net result €81,117, both a record.
31-12
Financial
Equity above €150,000Eq €176,317 ▲85.2%
3 profitable years in a row build equity to €176,317.
14-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
12-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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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, Mont-Saint-Guibert · 1 establishment unit since 2019
Ground area
2,571 m²
Building footprint
442 m²
2 parcels, Wallonia. Linked by address, not a title deed.
1 establishment unit
Louis Delhaize
since 20192.285.215.773
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25104B0362/00B000 | Wallonia | 1,871 m² | 1 · 442 m² | - |
| 25020A0235/00K002 | Wallonia | 700 m² | - | - |
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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteWalhain2.285.215.773
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Of 10,510 companies in sector 47110 we hold annual accounts for 5,853. 4,216 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
Founded25-01-2019
Fiscal year end31-12
Activities, NACEBEL 2025
47110Non-specialised retail sale with food, beverages or tobacco predominating
E-invoicing
Reachable via Peppol
Peppol ID
0208:0719398817
Registered
28-11-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.