Summary
MAENHOUT 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 €203,517 and a net result of -€4,389. Equity remains stable across the filed financial years (±1.9% per year). Its solvency ranks better than 24% of 6,652 sector peers (NACE 64, financial year 2025). The company has been active since 2002 and the Belgian Official Gazette contains no insolvency or warning signals.
Financials · financial year 2025, abbreviated format
2025 annual accounts filed late (31 days) Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00493232.
Equity
€203,517▼ 2.1%
2024 · €207,906
Net result
-€4,389
2024 · €6,657
Total assets
€931,990▼ 7.4%
2024 · €1.0m
Solvency
21.8%▲ 1.2pp
2024 · 20.7%
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result has risen four years in a row; 2025 is 11% above 2024 and is the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€0.04m
2025
Net result-€0.004m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€0.9m
2025
Equity€0.2m
2025
Debt€0.7m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€0.4m
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)-0.5%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency21.8%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.08
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)0
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.03m-€0.006m▼ 82.9%€0.02m▲ 187%-€0.01m-€0.003m▲ 76.0%€0.01m€0.03m▲ 228%€0.04m▲ 10.7%
Net result€0.01m--€0.008m€0.005mwithin the sector's middle half-€0.02mbelow the sector's middle half-€0.007mbelow the sector's middle half▲ 59.0%€0.001mbelow the sector's middle half€0.007mwithin the sector's middle half▲ 11×-€0.004mbelow the sector's middle half
Equity€0.2m-€0.2m▼ 3.7%€0.2mwithin the sector's middle half▲ 2.2%€0.2mwithin the sector's middle half▼ 8.0%€0.2mwithin the sector's middle half▼ 3.6%€0.2mwithin the sector's middle half▲ 0.3%€0.2mwithin the sector's middle half▲ 3.3%€0.2mwithin the sector's middle half▼ 2.1%
Total assets€1.1m-€0.9m▼ 15.5%€0.8mwithin the sector's middle half▼ 6.0%€0.8mwithin the sector's middle half▼ 10.1%€0.8mwithin the sector's middle half▲ 1.9%€1.0mwithin the sector's middle half▲ 25.5%€1.0mwithin the sector's middle half▲ 3.1%€0.9mwithin the sector's middle half▼ 7.4%
Debt€0.8m-€0.7m▼ 19.0%€0.6m▼ 8.7%€0.5m▼ 10.9%€0.6m▲ 4.4%€0.8m▲ 35.4%€0.8m▲ 3.3%€0.7m▼ 8.7%
Working capital€0.001m--€0.02m-€0.05mwithin the sector's middle half▼ 140%-€0.08mwithin the sector's middle half▼ 80.7%-€0.1mwithin the sector's middle half▼ 65.4%-€0.2mwithin the sector's middle half▼ 16.0%-€0.2mbelow the sector's middle half▼ 25.4%-€0.4mbelow the sector's middle half▼ 106%
Solvency21.5%-24.5%▲ 3.0pp26.6%within the sector's middle half▲ 2.1pp27.3%within the sector's middle half▲ 0.6pp25.8%within the sector's middle half▼ 1.5pp20.6%below the sector's middle half▼ 5.2pp20.7%below the sector's middle half=21.8%below the sector's middle half▲ 1.2pp
Current ratio1.00-0.86▼ 0.140.64within the sector's middle half▼ 0.220.25below the sector's middle half▼ 0.390.24below the sector's middle half▼ 0.010.63within the sector's middle half▲ 0.390.56within the sector's middle half▼ 0.070.08below the sector's middle half▼ 0.49
Return on assets (ROA)1.3%--0.9%▼ 2.2pp0.6%within the sector's middle half▲ 1.5pp-2.4%below the sector's middle half▼ 2.9pp-1.0%below the sector's middle half▲ 1.4pp0.1%below the sector's middle half▲ 1.0pp0.7%within the sector's middle half▲ 0.6pp-0.5%below the sector's middle half▼ 1.1pp
Staff (FTE)0within the sector's middle half0within the sector's middle half
above
within
below
the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the abbreviated format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €931,990
Fixed assets
€897,629 ▲ 19.7%
Current assets
€34,361 ▼ 86.6%
Equity and liabilities €931,990
Equity
€203,517 ▼ 2.1%
Provisions
€8,563 ▼ 16.7%
Debt
€719,911 ▼ 8.7%
Debt's share of the balance-sheet total falls from 78.3% to 77.2%. Equity and debt are lower.
Key figures and ratios
ROE
-2.2%▼
2024 · 3.2%
Debt ≤ 1 year
€443,392▼
2024 · €454,730
Debt > 1 year
€269,096▼
2024 · €330,172
Income taxes
€971▼
2024 · €4,634
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | €413 | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €36,026 | €36,026 | €29,537 | €30,379 | €30,379 | €30,407 | €32,977 | €51,955 | ▲ 57.5% |
| Other operating charges640/8 | - | - | - | €1,405 | €1,086 | €911 | €3,734 | €9,941 | ▲ 166% |
| Gross operating margin9900 | €69,561 | €47,374 | €46,390 | €19,626 | €28,553 | €41,980 | €71,663 | €100,583 | ▲ 40.4% |
| Operating profit (loss)9901 | €32,820 | €5,597 | €16,072 | -€12,159 | -€2,912 | €10,661 | €34,951 | €38,687 | ▲ 10.7% |
| Financial income75/76B | - | - | - | €1,287 | €226 | €845 | €2,246 | €10 | ▼ 99.5% |
| Recurring financial income75 | €1,377 | €835 | €2,281 | €1,287 | €226 | €845 | €2,246 | €10 | ▼ 99.5% |
| Financial charges65/66B | - | - | - | €8,662 | €6,170 | €9,693 | €27,619 | €43,828 | ▲ 58.7% |
| Recurring financial charges65 | €19,102 | €15,918 | €11,450 | €8,662 | €6,170 | €9,693 | €27,619 | €43,828 | ▲ 58.7% |
| Profit (loss) for the period before taxes9903 | €15,096 | -€9,486 | €6,903 | -€19,534 | -€8,857 | €1,814 | €9,578 | -€5,131 | - |
| Transfer from deferred taxes780 | - | - | - | €1,713 | €1,713 | €1,713 | €1,713 | €1,713 | = |
| Income taxes67/77 | €3,013 | €622 | €3,781 | €237 | €260 | €2,931 | €4,634 | €971 | ▼ 79.0% |
| Profit (loss) for the period9904 | €13,795 | -€8,396 | €4,834 | -€18,058 | -€7,404 | €595 | €6,657 | -€4,389 | - |
| Transfer from tax-exempt reserves789 | - | - | - | €5,144 | €5,144 | €5,144 | €5,144 | €5,144 | = |
| Profit (loss) for the period to be appropriated9905 | €18,939 | -€3,252 | €9,978 | -€12,914 | -€2,260 | €5,739 | €11,801 | €755 | ▼ 93.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.1m | €0.9m | €0.8m | €0.8m | €0.8m | €1.0m | €1.0m | €0.9m | ▼ 7.4% |
| Fixed assets21/28 | €0.8m | €0.8m | €0.8m | €0.7m | €0.7m | €0.7m | €0.8m | €0.9m | ▲ 19.7% |
| Tangible fixed assets22/27 | €0.7m | €0.7m | €0.7m | €0.6m | €0.6m | €0.6m | €0.6m | €0.8m | ▲ 23.8% |
| Land and buildings22 | - | - | - | €0.6m | €0.6m | €0.6m | €0.5m | €0.7m | ▲ 30.5% |
| Leasing and similar rights25 | - | - | - | - | - | - | €0.08m | €0.06m | ▼ 20.7% |
| Other tangible fixed assets26 | - | - | - | €0.01m | €0.01m | €0.008m | €0.007m | €0.006m | ▼ 17.7% |
| Financial fixed assets28 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Current assets29/58 | €0.2m | €0.1m | €0.08m | €0.03m | €0.04m | €0.3m | €0.3m | €0.03m | ▼ 86.6% |
| Stocks and contracts in progress3 | €0.08m | - | - | - | - | €0.2m | €0.2m | €0 | ▼ 100% |
| Stocks30/36 | - | - | - | - | - | €0.2m | €0.2m | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €0.08m | €0.09m | €0.08m | €0.03m | €0.04m | €0.08m | €0.06m | €0.03m | ▼ 50.5% |
| Trade receivables40 | - | - | - | €0.003m | €0.02m | €0.006m | €0.001m | €0 | ▼ 100% |
| Other amounts receivable41 | - | - | - | €0.02m | €0.02m | €0.07m | €0.06m | €0.03m | ▼ 49.7% |
| Current investments50/53 | €172 | €172 | €172 | €172 | €172 | €173 | - | - | - |
| Cash at bank and in hand54/58 | €0.003m | €0.02m | €0.003m | €325 | €0.002m | €252 | €173 | €0.002m | ▲ 13× |
| Deferred charges and accrued income490/1 | - | - | - | €55 | €163 | €159 | €0 | €301 | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.1m | €0.9m | €0.8m | €0.8m | €0.8m | €1.0m | €1.0m | €0.9m | ▼ 7.4% |
| Equity10/15 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 2.1% |
| Contributions10/11 | €0.01m | €0.01m | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Reserves13 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 2.2% |
| Non-distributable reserves130/1 | - | - | - | €0.002m | - | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.002m | - | - | - | - | - |
| Tax-exempt reserves132 | - | - | - | €0.05m | €0.04m | €0.04m | €0.03m | €0.03m | ▼ 16.7% |
| Distributable reserves133 | - | - | - | €0.1m | €0.1m | €0.2m | €0.2m | €0.2m | ▲ 0.5% |
| Provisions and deferred taxes16 | €0.02m | €0.02m | €0.02m | €0.02m | €0.01m | €0.01m | €0.01m | €0.009m | ▼ 16.7% |
| Deferred taxes168 | - | - | - | €0.02m | €0.01m | €0.01m | €0.01m | €0.009m | ▼ 16.7% |
| Amounts payable17/49 | €0.8m | €0.7m | €0.6m | €0.5m | €0.6m | €0.8m | €0.8m | €0.7m | ▼ 8.7% |
| Amounts payable after more than one year17 | €0.6m | €0.5m | €0.5m | €0.4m | €0.4m | €0.3m | €0.3m | €0.3m | ▼ 18.5% |
| Financial debts170/4 | - | - | - | €0.4m | €0.4m | €0.3m | €0.3m | €0.3m | ▼ 18.5% |
| Amounts payable within one year42/48 | €0.2m | €0.1m | €0.1m | €0.1m | €0.2m | €0.4m | €0.5m | €0.4m | ▼ 2.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.05m | €0.05m | €0.05m | €0.07m | €0.07m | ▼ 1.0% |
| Financial debts43 | - | - | - | - | - | €0.09m | €0.2m | €0.2m | ▼ 7.2% |
| Credit institutions430/8 | - | - | - | - | - | €0.09m | €0.2m | €0.2m | ▼ 7.2% |
| Trade debts44 | €0.004m | €0.02m | €0.01m | €0.009m | €0.006m | €0.02m | €0.01m | €0.003m | ▼ 80.1% |
| Suppliers440/4 | - | - | - | €0.009m | €0.006m | €0.02m | €0.01m | €0.003m | ▼ 80.1% |
| Advances received on contracts in progress46 | - | - | - | - | - | €0.003m | €0 | - | - |
| Taxes, remuneration and social security45 | - | - | - | €0.006m | €0.005m | €0.009m | €0.009m | €0.01m | ▲ 17.5% |
| Taxes450/3 | - | - | - | €0.004m | €0.005m | €0.009m | €0.009m | €0.01m | ▲ 17.5% |
| Remuneration and social security454/9 | - | - | - | €0.002m | - | - | - | - | - |
| Other amounts payable47/48 | - | - | - | €0.05m | €0.1m | €0.3m | €0.2m | €0.2m | ▲ 8.2% |
| Accrued charges and deferred income492/3 | - | - | - | €0.006m | €0.003m | €0.003m | €0.003m | €0.007m | ▲ 132% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €13,795 | -€8,396 | €4,834 | -€18,058 | -€7,404 | €595 | €6,657 | -€4,389 | - |
| + Depreciation and write-downs630 | €36,026 | €36,026 | €29,537 | €30,379 | €30,379 | €30,407 | €32,977 | €51,955 | ▲ 57.5% |
| Operating cash flow (approximation) | €49,821 | €27,631 | €34,371 | €12,321 | €22,975 | €31,002 | €39,635 | €47,566 | ▲ 20.0% |
| Investment in fixed assets (approximation) | - | €0 | -€12,683 | €0 | -€30,000 | -€28 | -€77,938 | -€199,484 | ▼ 156% |
| Change in cash | - | €14,634 | -€15,482 | -€2,240 | €2,126 | -€2,199 | -€79 | €2,109 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 24 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | abbreviated format | 31-08-2026 | 2026-00493232 |
| 31-12-2024 | abbreviated format | 29-08-2025 | 2025-00433372 |
| 31-12-2023 | abbreviated format | 30-08-2024 | 2024-00409025 |
| 31-12-2022 | abbreviated format | 30-08-2023 | 2023-00374934 |
| 31-12-2021 | abbreviated format | 31-08-2022 | 2022-20369069 |
| 31-12-2020 | abbreviated format | 31-08-2021 | 2021-58500202 |
| 31-12-2019 | abbreviated format | 14-09-2020 | 2020-52600430 |
| 31-12-2018 | abbreviated format | 29-08-2019 | 2019-53400315 |
| 31-12-2017 | abbreviated format | 31-08-2018 | 2018-55300008 |
| 31-12-2016 | abbreviated format | 29-08-2017 | 2017-49100301 |
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Of the 24,459 active companies whose main activity is activities of holding companies (NACE 64210), figures are known for 20,048. 13,744 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.