MAES INDUSTRIES
ActiveSummary
MAES INDUSTRIES has been active since 1996 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €566k and a net result of €68k. Equity is shrinking by ~2.8% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability79▲+33
Solvency95▲+6
Growth58=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €50k at 30 days acceptable
Liquidity ample (current ratio 2.57 against 0.05 in 2024; short-term debt: 14.6% and cash: 37.2% of total assets), and 29.6% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
70.4%
Return on assets
8.5%
Age of the figures
15 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year €566k
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 30-01-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
1 d early
2023
on the day
2022
28 d early
2021
11 d early
2020
12 d early
2019
15 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close25-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€566k▲ 13.7%
2024 · €497k
2019: €595khighest in 7 years
2020: €558k▼ -6.2% vs 2019
2021: €564k▲ +1.0% vs 2020
2022: €541k▼ -4.0% vs 2021
2023: €512k▼ -5.3% vs 2022
2024: €497k▼ -3.0% vs 2023lowest in 7 years
2025: €566k▲ +13.7% vs 2024
2019 → 2025
Total assets
€803k▲ 3.1%
2024 · €780k
2019: €873k
2020: €837k▼ -4.0% vs 2019
2021: €890k▲ +6.2% vs 2020highest in 7 years
2022: €863k▼ -3.0% vs 2021
2023: €806k▼ -6.6% vs 2022
2024: €780k▼ -3.3% vs 2023lowest in 7 years
2025: €803k▲ +3.1% vs 2024
2019 → 2025
Net result
€68k
2024 · €-15k
2019: €-36k
2020: €-43k▼ -17.3% vs 2019lowest in 7 years
2021: €6k▲ +113% vs 2020
2022: €-26k▼ -568% vs 2021
2023: €-28k▼ -9.3% vs 2022
2024: €-15k▲ +46.9% vs 2023
2025: €68k▲ +551% vs 2024highest in 7 years
2019 → 2025
Working capital
€184k
2024 · €-96k
2019: €-36k
2020: €-82k▼ -125% vs 2019
2021: €-71k▲ +12.7% vs 2020
2022: €-79k▼ -10.5% vs 2021
2023: €-93k▼ -18.0% vs 2022
2024: €-96k▼ -2.9% vs 2023lowest in 7 years
2025: €184k▲ +292% vs 2024highest in 7 years
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€564k-€541k▼ 4.0%€512k▼ 5.3%€497k▼ 3.0%€566k▲ 13.7%
2021: €564k
2022: €541k▼ -4.0% vs 2021
2023: €512k▼ -5.3% vs 2022
2024: €497k▼ -3.0% vs 2023lowest in 5 years
2025: €566k▲ +13.7% vs 2024highest in 5 years
Operating result€2k-€-29k€-31k▼ 9.1%€-16k▲ 47.6%€37k
2021: €2k
2022: €-29k▼ -1313% vs 2021
2023: €-31k▼ -9.1% vs 2022lowest in 5 years
2024: €-16k▲ +47.6% vs 2023
2025: €37k▲ +325% vs 2024highest in 5 years
Net result€6k-€-26k€-28k▼ 9.3%€-15k▲ 46.9%€68k
2021: €6k
2022: €-26k▼ -568% vs 2021
2023: €-28k▼ -9.3% vs 2022lowest in 5 years
2024: €-15k▲ +46.9% vs 2023
2025: €68k▲ +551% vs 2024highest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €37k after a loss of €16k in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €803k
Fixed assets
€502k ▼ 35.3%
Current assets
€302k ▲ 6,467%
Equity and liabilities €803k
Equity
€566k ▲ 13.7%
Provisions
€53k ▼ 49.6%
Debt
€185k ▲ 4.2%
Debt's share of the balance-sheet total rises from 22.8% to 23.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€54k▲
2024 · €10k
Cash flow
€85k▲
2024 · €11k
Current ratio
2.57▲
2024 · 0.05
Debt to equity
0.33▼
2024 · 0.36
ROE
12.1%▲
2024 · -3.0%
ROA
8.5%▲
2024 · -1.9%
Interest coverage
34.39▲
2024 · 3.58
Debt ≤ 1 year
€118k▲
2024 · €100k
Debt > 1 year
€67k▼
2024 · €77k
Income taxes
€19k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 51 lines
Balance sheet
Code20242025
Assets
Total assets20/58€780k€803k▲
Fixed assets21/28€775k€502k▼
Tangible fixed assets22/27€775k€502k▼
Land and buildings22€775k€502k▼
Current assets29/58€5k€302k▲
Amounts receivable within one year40/41€726€871▲
Trade receivables40€726€871▲
Cash at bank and in hand54/58€3k€299k▲
Deferred charges and accrued income490/1€1k€2k▲
Equity and liabilities
Total equity and liabilities10/49€780k€803k▲
Equity10/15€497k€566k▲
Contributions10/11€80k€80k=
Capital10€80k€80k=
Issued capital100€80k€80k=
Revaluation surpluses12€18k€18k=
Reserves13€399k€467k▲
Non-distributable reserves130/1€58k€58k=
Legal reserve130€58k€58k=
Tax-exempt reserves132€249k€126k▼
Distributable reserves133€92k€284k▲
Provisions and deferred taxes16€105k€53k▼
Deferred taxes168€105k€53k▼
Amounts payable17/49€178k€185k▲
Amounts payable after more than one year17€77k€67k▼
Financial debts170/4€77k€67k▼
Amounts payable within one year42/48€100k€118k▲
Current portion of amounts payable after more than one year42€10k€10k▲
Trade debts44€5k€2k▼
Suppliers440/4€5k€2k▼
Taxes, remuneration and social security45-€19k
Taxes450/3-€19k
Other amounts payable47/48€85k€87k▲
Income statement
Code20242025
Non-recurring operating income76A-€94k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€26k€17k▼
Other operating charges640/8€7k€7k▲
Gross operating margin9900€16k€61k▲
Operating profit (loss)9901€-16k€37k▲
Financial income75/76B€0-
Recurring financial income75€0-
Financial charges65/66B€3k€2k▼
Recurring financial charges65€3k€2k▼
Profit (loss) for the period before taxes9903€-19k€36k▲
Transfer from deferred taxes780€4k€52k▲
Income taxes67/77-€19k
Profit (loss) for the period9904€-15k€68k▲
Transfer from tax-exempt reserves789€10k€124k▲
Profit (loss) for the period to be appropriated9905€-5k€192k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-5k€192k▲
Transfer from equity791/2€5k€0▼
Transfer to equity691/2-€192k
To other reserves6921-€192k
The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €0 | - | - | €94k | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €56k | €34k | €34k | €26k | €17k | ▼ 34.5% |
| Other operating charges640/8 | - | €4k | €3k | €7k | €7k | ▲ 2.1% |
| Non-recurring operating charges66A | - | €0 | - | - | - | - |
| Gross operating margin9900 | €62k | €9k | €6k | €16k | €61k | ▲ 277% |
| Operating profit (loss)9901 | €2k | €-29k | €-31k | €-16k | €37k | ▲ 325% |
| Financial income75/76B | - | - | €0 | €0 | - | - |
| Recurring financial income75 | - | - | €0 | €0 | - | - |
| Financial charges65/66B | - | €3k | €3k | €3k | €2k | ▼ 41.5% |
| Recurring financial charges65 | €3k | €3k | €3k | €3k | €2k | ▼ 41.5% |
| Profit (loss) for the period before taxes9903 | €-128 | €-32k | €-34k | €-19k | €36k | ▲ 285% |
| Transfer from deferred taxes780 | - | €6k | €6k | €4k | €52k | ▲ 1,183% |
| Income taxes67/77 | - | - | - | - | €19k | - |
| Profit (loss) for the period9904 | €6k | €-26k | €-28k | €-15k | €68k | ▲ 551% |
| Transfer from tax-exempt reserves789 | - | €14k | €14k | €10k | €124k | ▲ 1,183% |
| Profit (loss) for the period to be appropriated9905 | €19k | €-12k | €-15k | €-5k | €192k | ▲ 3,594% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €890k | €863k | €806k | €780k | €803k | ▲ 3.1% |
| Fixed assets21/28 | €865k | €835k | €801k | €775k | €502k | ▼ 35.3% |
| Tangible fixed assets22/27 | €865k | €835k | €801k | €775k | €502k | ▼ 35.3% |
| Land and buildings22 | - | €835k | €801k | €775k | €502k | ▼ 35.3% |
| Current assets29/58 | €25k | €28k | €5k | €5k | €302k | ▲ 6,467% |
| Amounts receivable within one year40/41 | - | €2k | €0 | €726 | €871 | ▲ 20.0% |
| Trade receivables40 | - | €2k | €0 | €726 | €871 | ▲ 20.0% |
| Cash at bank and in hand54/58 | €22k | €25k | €4k | €3k | €299k | ▲ 11,570% |
| Deferred charges and accrued income490/1 | - | €2k | €1k | €1k | €2k | ▲ 50.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €890k | €863k | €806k | €780k | €803k | ▲ 3.1% |
| Equity10/15 | €564k | €541k | €512k | €497k | €566k | ▲ 13.7% |
| Contributions10/11 | €80k | €80k | €80k | €80k | €80k | = |
| Capital10 | - | €80k | €80k | €80k | €80k | = |
| Issued capital100 | - | €80k | €80k | €80k | €80k | = |
| Revaluation surpluses12 | - | €18k | €18k | €18k | €18k | = |
| Reserves13 | €469k | €443k | €414k | €399k | €467k | ▲ 17.1% |
| Non-distributable reserves130/1 | - | €58k | €58k | €58k | €58k | = |
| Legal reserve130 | - | €58k | €58k | €58k | €58k | = |
| Tax-exempt reserves132 | - | €273k | €259k | €249k | €126k | ▼ 49.6% |
| Distributable reserves133 | - | €112k | €97k | €92k | €284k | ▲ 209% |
| Provisions and deferred taxes16 | €120k | €115k | €109k | €105k | €53k | ▼ 49.6% |
| Deferred taxes168 | - | €115k | €109k | €105k | €53k | ▼ 49.6% |
| Amounts payable17/49 | €206k | €208k | €185k | €178k | €185k | ▲ 4.2% |
| Amounts payable after more than one year17 | €106k | €96k | €87k | €77k | €67k | ▼ 12.6% |
| Financial debts170/4 | - | €96k | €87k | €77k | €67k | ▼ 12.6% |
| Amounts payable within one year42/48 | €96k | €107k | €98k | €100k | €118k | ▲ 17.2% |
| Current portion of amounts payable after more than one year42 | - | €10k | €10k | €10k | €10k | ▲ 0.8% |
| Trade debts44 | €2k | €0 | €638 | €5k | €2k | ▼ 66.0% |
| Suppliers440/4 | - | €0 | €638 | €5k | €2k | ▼ 66.0% |
| Taxes, remuneration and social security45 | - | - | - | - | €19k | - |
| Taxes450/3 | - | - | - | - | €19k | - |
| Other amounts payable47/48 | - | €98k | €88k | €85k | €87k | ▲ 1.7% |
| Accrued charges and deferred income492/3 | - | €4k | €0 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6k | €-26k | €-28k | €-15k | €68k | ▲ 551% |
| + Depreciation and write-downs630 | €56k | €34k | €34k | €26k | €17k | ▼ 34.5% |
| Operating cash flow (approximation) | €61k | €8k | €5k | €11k | €85k | ▲ 676% |
| Investment in fixed assets (approximation) | - | €-3k | €0 | €0 | €256k | - |
| Change in cash | - | €2k | €-21k | €-1k | €296k | ▲ 22,305% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
04-08
State Gazette act
Reappointments: Maes Alexia, Maes Frederik and 2 othersPower of attorney8 facts ▸
State Gazette act
Reappointments: Maes Alexia, Maes Frederik and 2 others
Power of attorney8 facts ▸
- General meeting, 30/12/2025
- Director reappointment, Maes Alexia (director)
- Director reappointment, Maes Frederik (director)
- Director reappointment, Maes Isabelle (director)
- Director reappointment, Martens Irène (director)
- Director reappointment, Martens Irène (managing director)
- Director reappointment, Martens Irène (chair)
- Power of attorney, Luminad
30-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-06
Financial
Back to profitnet €68k
Net result €68k after 3 loss-making years.
30-06
Financial
Liquidity times 56current ratio 2.57
Current ratio from 0.05 to 2.57.
30-06
Financial
Equity above €500kEq €566k ▲13.7%
Equity rises from €497k to €566k.
30-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
03-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
20-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-06
Financial
Back to profitnet €6k
Net result €6k after 2 loss-making years.
19-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-06
Financial
Weakest financial yearnet €-43k
Net result drops to €-43k, the lowest in the series; recovery starts the following year.
Show earlier events
16-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
17-12
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
15-12
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
14-12
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 9 acts read
About the unread acts
Of the 9 Belgian State Gazette acts we know for this company, 1 has been read. The other 8 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
under verification, last change in 2025
This board is reconstructed from a single act (26099940). A Gazette act generally publishes only CHANGES, not a full roll call, so directors unchanged since then may be missing here. The KBO register holds the complete list of function holders.
Maes Alexia
CurrentDirector · since 30-12-2025
MAES Frederik
CurrentDirector · since 30-12-2025
Maes Isabelle
CurrentDirector · since 30-12-2025
Martens Irène
CurrentDirector · since 30-12-2025
30-12-2025
Maes Alexia: Mandate renewed as Director
30-12-2025
MAES Frederik: Mandate renewed as Director
30-12-2025
Maes Isabelle: Mandate renewed as Director
30-12-2025
Martens Irène: Mandate renewed as Director
30-12-2025
Martens Irène: Mandate renewed as Managing director
Not every act has been read: a resignation may be missing here
8 of this company's 9 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Kortrijk · 1 establishment unit since 1996
Ground area
591 m²
Building footprint
182 m²
Volume, LiDAR
550 m³
Parcel 34005C0761/00L000, Flanders · tallest building 3.9 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
MAES INDUSTRIES
since 19962.076.626.577
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34005C0761/00L000 | Flanders | 591 m² | 1 · 182 m² | 3.9 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Connections & network
1 connected companyLinked via shared directors
via MAES Frederik · Director
former→
Identification & contact
Identification
Legal formPublic limited company
Founded29-03-1996
Fiscal year end30-06
Scores and ratios are computed by Checked and are not a credit decision.