MACOVAN
ActiveThe annual accounts of MACOVAN for fiscal year 2024 show a net loss of 54% of total assets and of 204% of the equity at the start of that year. The 2024 annual accounts show equity of €749 and a net result of €-51k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 16% of 9713 sector peers (fiscal year 2024). The company has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2024
34
/ 100
Weak
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability0▼-33
Solvency26▼-5
Growth52=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity tight (current ratio 1.01 against 1.06 in 2023; short-term debt: 99.2% and cash: 5.4% of total assets), and 99.2% of the assets are financed with debt.
Credit advice for your own amount and term
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 68
Relative position
BE, all sectors
reference
Sector 68
lower
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
0.8%
Return on assets
-53.9%
Age of the figures
20 mo
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
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
18192021222324
2018 to 2024 · latest year €-51k
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 16% of 9713 sector peers (2024).
NBB · sector comparisonPosition among 9713 sector peers
Solvency
better than 16%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 25-08-2025, 25 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
25 d late
2023
29 d late
2022
31 d late
2021
29 d late
2020
31 d late
2019
31 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, abbreviated schema
Equity
€749▼ 97.0%
2023 · €25k
2018: €-123k
2019: €-130k
2020: €-140k
2021: €39k
2022: €34k
2023: €25k
2018 → 2024
Total assets
€95k▼ 78.4%
2023 · €442k
2018: €112k
2019: €163k
2020: €471k
2021: €226k
2022: €486k
2023: €442k
2018 → 2024
Net result
€-51k▼ 504%
2023 · €-9k
2018: €14k
2019: €-7k
2020: €-11k
2021: €179k
2022: €-5k
2023: €-9k
2018 → 2024
Working capital
€749▼ 97.0%
2023 · €25k
2018: €-123k
2019: €-130k
2020: €-140k
2021: €39k
2022: €34k
2023: €25k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€-140k-€39k€34k▼ 13.6%€25k▼ 25.3%€749▼ 97.0%
Operating result€-2k-€189k€-5k€-9k▼ 59.4%€-51k▼ 504%
Net result€-11k-€179k€-5k€-9k▼ 60.6%€-51k▼ 504%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €51k in 2024 against €9k in 2023; the loss grows and 2024 has the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Equity and liabilities €95k
Equity
€749▼ 97.0%
Debt
€95k▼ 77.3%
The debt ratio rises from 94.3% to 99.2%. Equity and debt are lower.
Key figures and ratios
Solvency
0.8%▼
2023 · 5.7%
Current ratio
1.01▼
2023 · 1.06
Quick ratio
1.01▲
2023 · 0.02
ROA
-53.9%▼
2023 · -1.9%
Debt
€95k▼
2023 · €417k
Debt ≤ 1 year
€95k▼
2023 · €417k
Equity ratios withheld: equity of €749 is too small for a meaningful ratio.
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€442k€95k▼
Current assets29/58€442k€95k▼
Stocks and contracts in progress3€434k€0▼
Stocks30/36€434k€0▼
Amounts receivable within one year40/41€1k€89k▲
Trade receivables40€6€89k▲
Other amounts receivable41€1k€355▼
Cash at bank and in hand54/58€6k€5k▼
Deferred charges and accrued income490/1€1k€802▼
Equity and liabilities
Total equity and liabilities10/49€442k€95k▼
Equity10/15€25k€749▼
Contributions10/11€13k€13k=
Reserves13€25k€25k=
Tax-exempt reserves132€13k€13k=
Distributable reserves133€12k€12k=
Profit (loss) carried forward14€-12k€-37k▼
Amounts payable17/49€417k€95k▼
Amounts payable within one year42/48€417k€95k▼
Trade debts44€537€2k▲
Suppliers440/4€537€2k▲
Advances received on contracts in progress46€335k€0▼
Taxes, remuneration and social security45€0€3k▲
Taxes450/3€0€3k▲
Other amounts payable47/48€82k€89k▲
Income statement
Code20232024
Other operating charges640/8€499€551▲
Gross operating margin9900€-8k€-51k▼
Operating profit (loss)9901€-9k€-51k▼
Financial income75/76B€0-
Recurring financial income75€0-
Financial charges65/66B€0-
Recurring financial charges65€0-
Profit (loss) for the period before taxes9903€-9k€-51k▼
Profit (loss) for the period9904€-9k€-51k▼
Profit (loss) for the period to be appropriated9905€-9k€-51k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-12k€-64k▼
Profit (loss) brought forward from the previous period14P€-4k€-12k▼
Shareholders' contribution to the loss794-€27k
The notes to these accounts (1 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
25-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 25 days late
2024
31-12
Financial
Weakest financial yearnet €-51k
Net result drops to €-51k, the lowest in the series.
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 29 days late
2021
31-12
Financial
Back to profitnet €179k
Net result €179k after 2 loss-making years.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 31 days late
2019
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 29 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
07-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 38 days late
2016
11-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 11 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
5 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, Torhout · 1 establishment unit since 2009
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Hillestraat 348820 TorhoutGround area
3,675 m²
Building footprint
175 m²
Volume, LiDAR
263 m³
Parcel 31033A0519/00L000, Flanders · tallest building 6.3 m. Linked by address, not a title deed.
1 establishment unit
MACOVAN
since 20092.175.455.721
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31033A0519/00L000 | Flanders | 3,675 m² | 1 · 175 m² | 6.2 m |
Linked by address, not proof of ownership
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.
Similar companies · same sector, comparable size
AYE CONSTRUCT
BE 0774.326.254
Liège · Eq €749
Jinthian
BE 0764.633.578
Mechelen · Eq €742
STEP IMMO
BE 1021.389.511
Sprimont · Eq €764
Ysère
BE 0791.209.204
Diksmuide · Eq €765
AUTO GEOMAR
BE 0792.858.895
Sint-Pieters-Leeuw · Eq €731
Of 9,696 companies in sector 68121 we hold annual accounts for 7,378. 646 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded08-12-2008
Fiscal year end31-12
Activities, NACEBEL
68121Development of residential building projects
Sources
Crossroads Bank for EnterprisesNational Bank · 16 filingsAddress and cadastre registers
Data from official sources, last processed on 16-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
1 entryE-mail:johan@osaer-pauwels.be