Equity
€112,691 from €238,582 in 2021
Equity fell by 53% in 4 years.
MAES
Lifetime
20 annual accounts with figures on one time axis, 35 filings since 1991peak €99,026 (2013)
€35,208▲ €37,354
lowest -€71,829 (2025)
-€71,829▼ €68,918
peak €238,582 (2021)
€112,691▼ 38.9%
€27,543▼ 43.9%
peak 1 FTE (2012)
-not published
Board2 names since 1991
2 directorsMAES Frank August Magdalena and 1 other
Documentsfilings and deeds
22-07-20269 days before the deadline
2025micro format
Gross margin from -€2,146 to €35,208Loss of €71,829Equity from €184,520 to €112,691Debts from €49,067 to €27,543Cash from €3,552 to €5,262
Key points
from the 2025 annual accountsResult
-€71,829 ▼ 2,368%
The result fell in 2025 from -€2,910 to -€71,829.
Turnover
≈ €190,000 estimated
The micro format states no turnover.
Liquidity
4.96 was 9.72 in 2024
Short-term debts rose from €23,497 to €27,543.
Filings
35 annual accounts since 1991
Three of the last ten came late. The 2020 accounts came latest: 11 days after the end of the period.
Position in the sector
-€71,829
Lower net result than 95% of companies in specialised construction. Sector median €10,189 · 35,113 companies.
Checked score
55
Fair
Financially stronger than 37% of micro companies in specialised construction (NACE 43)
Probability in this band: 1.5% to 4.2%
A net loss of at least half of total assets or of the equity at the start of the financial year caps the score at 59.
Bankruptcy probability within 12 months
1.1% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.7% across 47,693 companies (NACE 43, micro).
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.3%
01-2025: 0.3%● unchanged vs 12-2024lowest value
02-2025: 0.3%● unchanged vs 01-2025lowest value
03-2025: 0.3%● unchanged vs 02-2025lowest value
04-2025: 0.3%● unchanged vs 03-2025
05-2025: 0.3%● unchanged vs 04-2025
06-2025: 0.3%● unchanged vs 05-2025
07-2025: 0.5%▲ +0.2 percentage points vs 06-2025
08-2025: 0.4%▼ -0.1 percentage points vs 07-2025
09-2025: 0.4%● unchanged vs 08-2025
10-2025: 0.4%● unchanged vs 09-2025
11-2025: 0.4%● unchanged vs 10-2025
12-2025: 0.4%● unchanged vs 11-2025
01-2026: 0.4%● unchanged vs 12-2025
02-2026: 0.4%● unchanged vs 01-2026
03-2026: 0.4%● unchanged vs 02-2026
04-2026: 0.5%▲ +0.1 percentage points vs 03-2026
05-2026: 0.5%● unchanged vs 04-2026
06-2026: 0.5%● unchanged vs 05-2026
07-2026: 0.5%● unchanged vs 06-2026
08-2026: 1.1%▲ +0.6 percentage points vs 07-2026highest value
09-2026: 1.1%● unchanged vs 08-2026highest value
10-2026: 1.1%● unchanged vs 09-2026highest value
11-2026: 1.1%● unchanged vs 10-2026highest value
Financial strengthAverage
Score breakdown
raises risk
Capped at 59: a net loss of at least half of total assets or of the equity at the start of the financial year
Loss of €71,829, the second in a row (financial year 2025)
Sector: Specialised construction activities (NACE 43)
Liquidity: current ratio 4.96, cash €5,262
lowers risk
Equity €112,691 (80.4% of total assets)
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 43, micro). It does better than 90% of them on solvency, 40% on liquidity, 4% on profitability and 11% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 5,831 companies had the same profile as MAES has now. Each dot stands for 15 companies, two years later.
84.5%
were still trading
13.4%
stopped another way
1.7%
went bankrupt
Another 0.4% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MAES itself: 1.1% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 5,831 companies, not a prediction for MAES. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €6,000 on 30-day terms, only on tighter conditions
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity is ample, with a current ratio of 4.96 (9.72 in 2024), above the usual 1.5. Short-term debt is 19.6% and cash 3.8% of total assets. 19.6% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
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 -€71,829
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 22-07-2026, 9 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
9 days early
2024
2 days early
2023
2 days early
2022
on the day
2021
11 days late
2020
11 days late
2019
28 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 3 days before the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 30 July (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0443770941
Changes of role: MAES Frank August Magdalena (director) and MAES Wouter Joannes Anna (director)
Director discharge: MAES Frank August Magdalena · Director discharge: MAES Wouter Joannes Anna · Gazette deed
First establishment
MAES BVBA, Zandvliet 78, Dessel
Incorporation
published on 23-04-1991 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| MAES Dessel | €140,234 | €35,208 | 80.4% | - |
| RENO DE PAUW Bornem | €163,089 | €36,458 | 45.2% | - |
| WUYTS KOENRAAD Wijnegem | €112,700 | €25,911 | 12.1% | - |
| SANIMO Antwerp | €180,131 | €26,327 | 35.2% | - |
| TOITURE HESBIGNONNE Geer | €175,938 | €36,808 | 60.8% | - |
| Chauffage, Sanitaire BRIDE et Fils Celles (lez-Tournai) | €136,411 | €38,754 | 54.1% | - |
| SANI - CHAUFF Wingene | €114,128 | €33,567 | 14.5% | - |
These companies have the same main activity as MAES: plumbing work (NACE 43221). They are comparable in size and age: total assets between €113,000 and €180,000, founded between 1983 and 1997.
Official details
Source: KBO- Status
- Active since 29-03-1991Normal situation
- Activity
- Plumbing workNACE 43221and 2 others
- Establishment unit
- 2.052.427.5522480 Dessel, since 18-04-1991
- Financial year end
- 31 December
- Peppol
- Reachable since 09-10-2025
Annual accounts 2025
- €140,234▼ 40.0%
- Filing
- Filed on 22-07-2026, 9 days before the end of the filing period
Insights on MAES
MAES files the micro format. That format states no turnover. The gross margin rose from €26,348 in 2006 to €35,208 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about MAES
- What is the company number of MAES?
- The company number of MAES is 0443.770.941. The VAT number is the same number with BE in front: BE 0443.770.941.
- Where is MAES based?
- The registered office is at Zandvliet 78, 2480 Dessel.Company details
- What does MAES do?
- According to the KBO register, the main activity is plumbing work (NACE 43221).
- What is the legal form of MAES?
- MAES is a private limited company (BV).
- When was MAES founded?
- MAES was founded on 29-03-1991.
- Is MAES still active?
- Yes, MAES is an active enterprise in the KBO register.
- What is the turnover of MAES?
- The turnover in financial year 2025 is ≈ €190,000. This figure is estimated from the gross margin of €35,208 and 119 comparable companies (NACE 432). It probably lies between €120,000 and €250,000.Financials
- Is MAES profitable?
- In financial year 2025, MAES made a loss of €71,829.
- Where can I find the annual accounts of MAES?
- MAES filed 35 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of MAES due?
- MAES must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can trust this company with building work.Contractor check Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Check which of your other customers you can e-invoice via Peppol.Peppol check Compare this company with its sector.Sector benchmark
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