Active BE 0466.082.822Private limited company

MACON

Grote Moortel 13 ·9830 Sint-Martens-Latem, Belgium· 27 yrs active

Sector: Activities of holding companies (64210)

Conclusion Checked

MACON is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €2.23M and a net result of €-1k. Equity is growing by ~4.3% per year across the filed fiscal years. Its solvency ranks better than 95% of 7865 sector peers (fiscal year 2025). The company has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 5 annual accounts.

Key figures

Equity	€2.23M
Net result	€-1k
Better than sector	95%
Active	27 yrs

Financial profile 4 of 5 axes measured · computed by Checked

63 / 100

Strong profile, led by solvency.

Computed on 4 of 5 axes. Not measured: health. An unmeasured axis is not a zero: no data was read for it.

Health -

Profitability 0

Solvency 100

Growth 52

Stability 100

Bankruptcy probability (12 mo) Checked model v1 · free

This is a financial institution (bank, insurer or financial holding). Our bankruptcy model is trained on ordinary trading and manufacturing companies; a bank balance sheet falls outside that scope. We therefore show no bankruptcy probability rather than a misleading figure.

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 2 signals

Long-established

Founded in 1999, 27 years in business.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags0 events

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Checked score

Model not applicable to financial institutions

The health 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.

Financial overview26 NBB filings

Annual accounts filed on 31-03-2026 with the NBB · fiscal year 2025 · micro schema

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

growing Equity: growth of ~4.3%/year over 5 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2025 · NACE 64, Financial service activities, except insurance and pension funding · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	99.5%	51.3%	better than 95% of 7865 sector peers
Net result	€-1k	€33k	better than 17% of 7869 sector peers
Equity	€2.23M	€132k	better than 95% of 7871 sector peers
Gross operating margin	€102k	€63k	better than 66% of 7858 sector peers
Total assets	€2.24M	€338k	better than 91% of 7868 sector peers

Net profit

€-1k

- 21-25

Total assets

€2.24M

-9.7% 21-25

Equity

€2.23M

-8.8% 21-25

Income taxes

€12k

-66.3% 21-25

Dividends

€215k

- 21-25

Debt

€11k

-69.7% 21-25

Debt ≤ 1y

€10k

-71.1% 21-25

Debt > 1y

€0

-100.0% 21-25

Solvency

99.5%

+1.0% 21-25

ROE

-0.1%

- 21-25

ROA

-0.1%

- 21-25

Figures by fiscal year and ratios

Highlight YoY changes (±10%)

Fiscal year	2025	2024	2023	2022	2021
Deposit	micro schema	micro schema	micro schema	micro schema	abbreviated schema
Revenue	n/a	n/a	n/a	n/a	n/a
EBITDA	n/a	n/a	n/a	n/a	n/a
Net profit	€-1k	€69k	€173k	€209k	€222k
Cash flow	n/a	n/a	n/a	n/a	n/a
Staff costs	-	-	-	-	-
Income taxes	€12k	€36k	€76k	€102k	€91k
Dividends	€215k	-	-	-	-
Total assets	€2.24M	€2.48M	€2.78M	€2.65M	€2.81M
Equity	€2.23M	€2.44M	€2.37M	€2.20M	€1.99M
Debt	€11k	€35k	€405k	€447k	€822k
of which ≤ 1y	€10k	€34k	€403k	€415k	€738k
of which > 1y	-	€0	€1k	€31k	€84k
Working capital	n/a	n/a	n/a	n/a	n/a
Employees (FTE)	-	-	-	-	-

Note: these years are not on the same basis. The filed schemas differ (micro schema, abbreviated schema), so the columns are not directly comparable.

Ratios (computed)

	2025	2024	2023	2022	2021
Current ratio	n/a	n/a	n/a	n/a	n/a
Quick ratio	n/a	n/a	n/a	n/a	n/a
Working capital ratio	n/a	n/a	n/a	n/a	n/a
Solvency	99.5%	98.6%	85.4%	83.1%	70.8%
Debt / equity	n/a	n/a	n/a	n/a	n/a
Long-term debt ratio	n/a	n/a	n/a	n/a	n/a
Interest coverage	n/a	n/a	n/a	n/a	n/a
Gross margin	n/a	n/a	n/a	n/a	n/a
Net margin	n/a	n/a	n/a	n/a	n/a
ROA	-0.1%	2.8%	6.2%	7.9%	7.9%
ROE	-0.1%	2.8%	7.3%	9.5%	11.2%
EBITDA margin	n/a	n/a	n/a	n/a	n/a
Days sales outstanding	n/a	n/a	n/a	n/a	n/a
Days payable outstanding	n/a	n/a	n/a	n/a	n/a
Inventory turnover	n/a	n/a	n/a	n/a	n/a
Days inventory (DSI)	n/a	n/a	n/a	n/a	n/a

Balance-sheet composition 2025

Assets

Fixed assets €1.68M · 75.1% Current assets €556k · 24.9%

Equity & liabilities

Equity €2.23M · 99.5% Debt €11k · 0.5%

Full annual accounts (25 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025	2024	2023	2022	2021
Balance sheet, Assets
TOTAL ASSETS	20/58	€2.24M	€2.48M	€2.78M	€2.65M	€2.81M
Fixed assets	21/28	€1.68M	€1.73M	€1.77M	€1.75M	€2.06M
Tangible fixed assets	22/27	€1.68M	€1.73M	€1.77M	€1.75M	€2.06M
Financial fixed assets	28	€20	€20	€20	€20	€20
Current assets	29/58	€556k	€749k	€1.01M	€898k	€754k
Amounts receivable within one year	40/41	€284k	€253k	€262k	€294k	€456k
Investments	50/53	€97k	€100k	€146k	€157k	€173k
Cash & bank	54/58	€169k	€386k	€599k	€444k	€122k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€2.24M	€2.48M	€2.78M	€2.65M	€2.81M
Equity	10/15	€2.23M	€2.44M	€2.37M	€2.20M	€1.99M
Contributions / capital	10/11	€351k	€351k	€351k	€351k	€351k
Reserves	13	€1.28M	€1.50M	€1.43M	€1.26M	€1.05M
Accumulated profits (losses)	14	€592k	€594k	€594k	€594k	€594k
Amounts payable	17/49	€11k	€35k	€405k	€447k	€822k
Amounts payable after one year	17	-	€0	€1k	€31k	€84k
Amounts payable within one year	42/48	€10k	€34k	€403k	€415k	€738k
Trade debts payable within one year	44	€10k	€19k	€167k	€57k	€37k
Income statement
Gross operating margin	9900	€102k	€173k	€327k	€389k	€375k
Operating result	9901	€3k	€84k	€230k	€312k	€277k
Financial income	75	€11k	€19k	€18k	€15k	€16k
Financial charges	65	€3k	€-2k	€-2k	€17k	€-20k
Result before taxes	9903	€11k	€105k	€249k	€310k	€313k
Income taxes	67/77	€12k	€36k	€76k	€102k	€91k
Net result for the period	9904	€-1k	€69k	€173k	€209k	€222k
Result to be appropriated	9905	€-1k	€69k	€173k	€209k	€222k

Legal Structure

NACE primary	Activities of holding companies(64210)
Legal form	Private limited company(610)
Incorporation	19-05-1999
Status	Active
Postal code	9830

Establishment units 1 location

Grote Moortel 13, 9830 Sint-Martens-Latem

Air transport

since 19992.092.751.640

Real-estate footprint Source: CBE × cadastre

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
44064A0025/00F000	Flanders	2,894 m²	1 · 303 m²	12.2 m · 2 fl.

Methodology

via registered seat: 1

1 of 1 parcel with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Updates 10 events

All 15Financial 5Filings 10

Next filing, fiscal year 2026, expected by 30-04-2027

2026

31-03

NBB filing Annual accounts filed

fiscal year 2025 · micro schema

2025

30-09

Financial Weakest financial yearnet €-1k ▼102%

Net result drops to €-1k, the lowest in the series.

30-09

Financial Liquidity triplescurrent ratio 55.91

Current ratio from 21.74 to 55.91; short-term debt falls from €34k to €10k.

30-04

NBB filing Annual accounts filed

fiscal year 2024 · micro schema

2024

30-09

Financial Liquidity times 9current ratio 21.74

Current ratio from 2.51 to 21.74; short-term debt falls from €403k to €34k.

29-04

NBB filing Annual accounts filed

fiscal year 2023 · micro schema

2023

28-04

NBB filing Annual accounts filed

fiscal year 2022 · micro schema

2022

30-09

Financial Liquidity doublescurrent ratio 2.17

Current ratio from 1.02 to 2.17; short-term debt falls from €738k to €415k.

30-09

Financial Equity above €2MEq €2.20M ▲10.5%

2 profitable years in a row build equity to €2.20M.

29-04

NBB filing Annual accounts filed

fiscal year 2021 · abbreviated schema

2021

18-05

NBB filing Annual accounts filed

fiscal year 2020 · abbreviated schema · 18 days late

2020

30-04

NBB filing Annual accounts filed

fiscal year 2019 · abbreviated schema

2019

26-04

NBB filing Annual accounts filed

fiscal year 2018 · abbreviated schema

2018

02-05

NBB filing Annual accounts filed

fiscal year 2017 · abbreviated schema · 2 days late

2017

08-05

NBB filing Annual accounts filed

fiscal year 2016 · abbreviated schema · 8 days late

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Belgian State Gazette reading coverage 0 of 5 acts read

We know of 5 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

Credit advice verdict per customer and amount

Company registry (CBE) Crossroads Bank

Activities

Holdings64200Activities of holding companies6421074151

Names & trade names

Legal nameNL

MACON

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