Checked.be
Active
BE 0435.486.844Public limited company
MAELVAMI
Rederskaai 16-17 ·8380 Brugge, Belgium· 37 yrs active
Sector: Logistics services
(52250)
Conclusion
MAELVAMI has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.02M and a net result of €-3k. Equity remains stable across the filed fiscal years (±2.1% per year). Its solvency ranks better than 64% of 902 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Based on the State Gazette, CBE and 4 annual accounts.
Key figures
| Equity | €1.02M |
| Net result | €-3k |
| Better than sector | 64% |
| Active | 37 yrs |
Financial profile
63
/ 100
Strong profile, led by stability.
All 5 axes are computed from data Checked has read.
Health
60
Profitability
0
Solvency
98
Growth
58
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 1988, 37 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 Flags
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
60
/ 100
Healthy
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€60k
estimate, not credit advice
Score history
45
2022
52
2023
60
2024
60
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 19.21 (≥ 1.5)
+10
Quick ratio
Quick ratio 6.22 (≥ 1.0)
+5
Leverage
Debt/equity 0.66 (< 1.0)
+10
Profitability
Negatieve ROE 0%
-10
Interest coverage
Interest coverage -70.8× (< 1.5×)
-10
Profit trend
Net profit up YoY
+5
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 08-10-2025 with the NBB · fiscal year 2025 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
stable
Equity: stable across 4 fiscal years (±2.1%/year).
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 52, Warehousing and support activities for transportation · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 60.2% | 43.5% | |
| Net result | €-3k | €12k | |
| Equity | €1.02M | €60k | |
| Gross operating margin | €-7k | €46k | |
| Total assets | €1.70M | €181k |
€-12k
+18.7%
22-25
€-3k
+84.1%
22-25
€-3k
+72.2%
22-25
€1.70M
-1.4%
22-25
€1.02M
-0.3%
22-25
€1.16M
+0.7%
22-25
€92
-64.2%
22-25
€675k
-3.0%
22-25
€64k
-25.0%
22-25
19.21
+31.8%
22-25
6.22
+28.9%
22-25
60.2%
+1.1%
22-25
0.66
-2.7%
22-25
-0.3%
+84.0%
22-25
-0.2%
+83.9%
22-25
-70.85
-11.8%
22-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | abbreviated schema |
| Revenue | - | - | - | - |
| EBITDA | €-12k | €-15k | €-36k | €-8k |
| Net profit | €-3k | €-21k | €-47k | €-16k |
| Cash flow | €-3k | €-12k | €-37k | €-8k |
| Staff costs | - | - | - | - |
| Income taxes | €92 | €256 | €256 | €23 |
| Dividends | - | - | - | - |
| Total assets | €1.70M | €1.72M | €1.76M | €1.27M |
| Equity | €1.02M | €1.02M | €1.05M | €1.09M |
| Debt | €675k | €696k | €713k | €178k |
| of which ≤ 1y | €64k | €85k | €102k | €178k |
| of which > 1y | - | - | - | - |
| Working capital | €1.16M | €1.15M | €1.16M | €677k |
| 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 | |
|---|---|---|---|---|
| Current ratio | 19.21 | 14.57 | 12.40 | 4.80 |
| Quick ratio | 6.22 | 4.83 | 4.30 | 0.17 |
| Working capital ratio | 68.2% | 66.8% | 66.0% | 53.2% |
| Solvency | 60.2% | 59.5% | 59.5% | 86.0% |
| Debt / equity | 0.66 | 0.68 | 0.68 | 0.16 |
| Long-term debt ratio | - | - | - | - |
| Interest coverage | -70.85 | -63.39 | -77.57 | -20.15 |
| Gross margin | - | - | - | - |
| Net margin | - | - | - | - |
| ROA | -0.2% | -1.2% | -2.7% | -1.3% |
| ROE | -0.3% | -2.1% | -4.5% | -1.5% |
| EBITDA margin | - | - | - | - |
| Days sales outstanding | - | - | - | - |
| Days payable outstanding | - | - | - | - |
| Inventory turnover | - | - | - | - |
| Days inventory (DSI) | - | - | - | - |
Balance-sheet composition 2025
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 |
|---|---|---|---|---|---|
| Balance sheet, Assets | |||||
| TOTAL ASSETS | 20/58 | €1.70M | €1.72M | €1.76M | €1.27M |
| Fixed assets | 21/28 | €475k | €486k | €495k | €417k |
| Intangible fixed assets | 21 | €91k | €91k | €91k | - |
| Tangible fixed assets | 22/27 | €385k | €396k | €405k | €416k |
| Financial fixed assets | 28 | - | - | - | €1k |
| Current assets | 29/58 | €1.22M | €1.23M | €1.26M | €855k |
| Stocks & contracts in progress | 3 | €826k | €826k | €826k | €826k |
| Amounts receivable within one year | 40/41 | €9k | €7k | €8k | €7k |
| Investments | 50/53 | €275k | €200k | - | - |
| Cash & bank | 54/58 | €111k | €202k | €431k | €22k |
| Balance sheet, Equity & liabilities | |||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €1.70M | €1.72M | €1.76M | €1.27M |
| Equity | 10/15 | €1.02M | €1.02M | €1.05M | €1.09M |
| Contributions / capital | 10/11 | €156k | €156k | €156k | €156k |
| Reserves | 13 | €865k | €869k | €890k | €937k |
| Amounts payable | 17/49 | €675k | €696k | €713k | €178k |
| Amounts payable within one year | 42/48 | €64k | €85k | €102k | €178k |
| Trade debts payable within one year | 44 | €112 | €108 | €524 | - |
| Income statement | |||||
| Gross operating margin | 9900 | €-7k | €-11k | €-31k | €-3k |
| Operating result | 9901 | €-12k | €-24k | €-47k | €-16k |
| Financial income | 75 | €9k | €4k | €0 | €2 |
| Financial charges | 65 | €176 | €242 | €463 | €392 |
| Result before taxes | 9903 | €-3k | €-21k | €-47k | €-16k |
| Income taxes | 67/77 | €92 | €256 | €256 | €23 |
| Net result for the period | 9904 | €-3k | €-21k | €-47k | €-16k |
| Result to be appropriated | 9905 | €-3k | €-21k | €-47k | €-16k |
Legal Structure
| NACE primary | Logistics services(52250) |
| Legal form | Public limited company(014) |
| Incorporation | 30-09-1988 |
| Status | Active |
| Postal code | 8380 |
Establishment units
MAELVAMI NV
since 19922.040.682.238
Real-estate footprint
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31812P0047/00D016 | Flanders | 1,713 m² | 1 · 1,666 m² | 18.2 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
Next filing, fiscal year 2026, expected by
2025
08-10
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2024
08-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
27-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
31-03
Financial
Weakest financial yearnet €-47k
Net result drops to €-47k, the lowest in the series; recovery starts the following year.
31-03
Financial
Liquidity triplescurrent ratio 12.40
Current ratio from 4.80 to 12.40; short-term debt falls from €178k to €102k.
2022
14-09
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2021
21-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2020
15-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2019
10-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
20-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
13-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
07-12
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 37 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 6 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
Company registry (CBE)
Activities
Logistics services52250Warehousing and support activities for transportation5229063406Warehousing and support activities for transportation5224963112
Names & trade names
| Legal nameNL | MAELVAMI |
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