Maes
ActiveMaes has been active since 1985 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €79k and a net result of €-4k. Equity is shrinking by ~16.2% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2028. Its solvency ranks better than 95% of 27711 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
76
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability26▲+26
Solvency100=
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6k at 30 days acceptable
short-term debt: 0% and cash: 51.1% of total assets, and 0% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Sector 43
higher
← fewer bankruptcies
more bankruptcies →
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 (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-4k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 03-09-2026, 34 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
34 d late
2024
13 d late
2023
2 d early
2022
1 d late
2021
26 d late
2020
30 d late
2019
68 d late
← before the deadline
after the deadline →
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
22-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€79k▼ 4.4%
2024 · €83k
2018: €213k
2019: €196k
2020: €183k
2021: €151k
2022: €122k
2023: €98k
2024: €83k
2018 → 2025
Total assets
€79k▼ 6.0%
2024 · €84k
2018: €235k
2019: €197k
2020: €184k
2021: €167k
2022: €140k
2023: €101k
2024: €84k
2018 → 2025
Net result
€-4k▲ 76.6%
2024 · €-16k
2018: €-8k
2019: €-17k
2020: €-13k
2021: €-32k
2022: €-29k
2023: €-23k
2024: €-16k
2018 → 2025
Working capital
€79k▼ 3.9%
2024 · €82k
2018: €158k
2019: €140k
2020: €141k
2021: €122k
2022: €107k
2023: €86k
2024: €82k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€151k-€122k▼ 19.3%€98k▼ 19.2%€83k▼ 15.9%€79k▼ 4.4%
Operating result€-21k-€-31k▼ 46.6%€-24k▲ 21.2%€-16k▲ 32.4%€-5k▲ 66.9%
Net result€-32k-€-29k▲ 9.7%€-23k▲ 19.9%€-16k▲ 33.0%€-4k▲ 76.6%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €5k in 2025 against €16k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €79k
Equity
€79k▼ 4.4%
Debt
€11▼ 99.2%
The debt ratio falls from 1.7% to 0.0%. Equity and debt are lower.
Key figures and ratios
Solvency
100.0%▲
2024 · 98.3%
Debt / equity
0.00▼
2024 · 0.02
ROE
-4.6%▲
2024 · -18.9%
ROA
-4.6%▲
2024 · -18.6%
Debt
€11▼
2024 · €1k
Debt ≤ 1 year
€11▼
2024 · €1k
A ratio outside any meaningful range has been withheld (balance sheet total €79k, equity €79k).
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 · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€84k€79k▼
Fixed assets21/28€425€0▼
Financial fixed assets28€425€0▼
Current assets29/58€84k€79k▼
Amounts receivable after more than one year29€75k€34k▼
Other amounts receivable291€75k€34k▼
Stocks and contracts in progress3€772€0▼
Stocks30/36€772€0▼
Amounts receivable within one year40/41€5k€5k▲
Trade receivables40€5k€5k=
Other amounts receivable41-€181
Cash at bank and in hand54/58€3k€40k▲
Deferred charges and accrued income490/1€127€131▲
Equity and liabilities
Total equity and liabilities10/49€84k€79k▼
Equity10/15€83k€79k▼
Contributions10/11€33k€33k=
Reserves13€50k€46k▼
Non-distributable reserves130/1€3k€3k=
Reserves not available under the articles1311€3k€3k=
Tax-exempt reserves132€1k€1k=
Distributable reserves133€45k€42k▼
Amounts payable17/49€1k€11▼
Amounts payable within one year42/48€1k€11▼
Trade debts44-€11
Suppliers440/4-€11
Taxes, remuneration and social security45€614€0▼
Taxes450/3€614€0▼
Other amounts payable47/48€800€0▼
Income statement
Code20242025
Other operating charges640/8€727€515▼
Non-recurring operating charges66A€8k€0▼
Gross operating margin9900€-7k€-5k▲
Operating profit (loss)9901€-16k€-5k▲
Financial income75/76B€912€2k▲
Recurring financial income75€912€2k▲
Financial charges65/66B€40€54▲
Recurring financial charges65€40€54▲
Profit (loss) for the period before taxes9903€-16k€-4k▲
Profit (loss) for the period9904€-16k€-4k▲
Profit (loss) for the period to be appropriated9905€-16k€-4k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-16k€-4k▲
Transfer from equity791/2€16k€4k▼
The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
03-09
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 34 days late
2025
31-12
Financial
Liquidity times 119current ratio 7027.57
Current ratio from 59.17 to 7027.57; short-term debt falls from €1k to €11.
13-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 13 days late
2024
29-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Liquidity times 5current ratio 34.24
Current ratio from 6.77 to 34.24; short-term debt falls from €19k to €3k.
01-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 1 day late
2022
26-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 26 days late
2021
31-12
Financial
Weakest financial yearnet €-32k
Net result drops to €-32k, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
07-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 68 days late
2019
31-12
Financial
Liquidity times 18current ratio 144.52
Current ratio from 8.21 to 144.52; short-term debt falls from €22k to €972.
27-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 58 days late
2018
07-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 7 days late
2017
03-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 3 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Gistel · 1 establishment unit since 1985
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.
Snaaskerkestraat 708470 GistelGround area
1.5 ha
Building footprint
2,372 m²
Volume, LiDAR
5,584 m³
2 parcels, Flanders · tallest building 20.1 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Zandvoordestraat 449, 8400 Oostende
since 19852.027.319.794
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 35026A0224/00N000 | Flanders | 8,625 m² | 1 · 1,935 m² | 20.1 m |
| 35019B0311/00A000 | Flanders | 6,455 m² | 1 · 436 m² | 8.6 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels 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
DMD Solutions
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L-Teco
BE 0674.917.090
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HRUNANSKY STEPHANE
BE 0897.949.289
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PJS Installatietechnieken
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Of 9,530 companies in sector 43222 we hold annual accounts for 5,662. 4,841 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded27-06-1985
Fiscal year end31-12
Activities, NACEBEL
43222Installation of electric heating, air conditioning, cooling and ventilation
43221Plumbing work
43410Roofing work
45220
45332
64910Financial service activities, except insurance and pension funding
65210
Sources
Crossroads Bank for EnterprisesNational Bank · 41 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.