MAESSEN - PROJECTS
ActiveSummary
MAESSEN - PROJECTS has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €598k and a net result of €-15k. Equity is growing by ~13% per year across the filed fiscal years. Its solvency ranks better than 35% of 14128 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability54▼-19
Solvency37▼-13
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €35k at 30 days acceptable
Liquidity short (current ratio 0.16 against 0.41 in 2024; short-term debt: 21.1% and cash: 0.1% of total assets), and 87.5% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← 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
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 31-03-2026, 30 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
30 d early
2024
8 d late
2023
1 d late
2022
37 d early
2021
37 d early
2020
43 d early
2019
on the day
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€598k▼ 2.5%
2024 · €614k
2018: €308k
2019: €306k▼ -0.6% vs 2018lowest in 8 years
2020: €312k▲ +1.8% vs 2019
2021: €355k▲ +13.8% vs 2020
2022: €440k▲ +24.1% vs 2021
2023: €525k▲ +19.2% vs 2022
2024: €614k▲ +16.9% vs 2023highest in 8 years
2025: €598k▼ -2.5% vs 2024
2018 → 2025
Total assets
€4.80M▲ 95.7%
2024 · €2.45M
2018: €1.09Mlowest in 8 years
2019: €1.93M▲ +76.8% vs 2018
2020: €2.77M▲ +43.8% vs 2019
2021: €2.64M▼ -4.8% vs 2020
2022: €2.58M▼ -2.0% vs 2021
2023: €2.51M▼ -2.8% vs 2022
2024: €2.45M▼ -2.3% vs 2023
2025: €4.80M▲ +95.7% vs 2024highest in 8 years
2018 → 2025
Net result
€-15k
2024 · €89k
2018: €-7k
2019: €-2k▲ +73.2% vs 2018
2020: €6k▲ +392% vs 2019
2021: €43k▲ +669% vs 2020
2022: €86k▲ +99.5% vs 2021
2023: €85k▼ -1.3% vs 2022
2024: €89k▲ +5.0% vs 2023highest in 8 years
2025: €-15k▼ -117% vs 2024lowest in 8 years
2018 → 2025
Working capital
€-856k▼ 177%
2024 · €-309k
2018: €131khighest in 8 years
2019: €-186k▼ -242% vs 2018
2020: €-478k▼ -156% vs 2019
2021: €-451k▲ +5.7% vs 2020
2022: €-387k▲ +14.2% vs 2021
2023: €-338k▲ +12.6% vs 2022
2024: €-309k▲ +8.5% vs 2023
2025: €-856k▼ -177% vs 2024lowest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€355k-€440k▲ 24.1%€525k▲ 19.2%€614k▲ 16.9%€598k▼ 2.5%
2021: €355klowest in 5 years
2022: €440k▲ +24.1% vs 2021
2023: €525k▲ +19.2% vs 2022
2024: €614k▲ +16.9% vs 2023highest in 5 years
2025: €598k▼ -2.5% vs 2024
Operating result€107k-€137k▲ 27.9%€148k▲ 8.3%€155k▲ 4.6%€49k▼ 68.1%
2021: €107k
2022: €137k▲ +27.9% vs 2021
2023: €148k▲ +8.3% vs 2022
2024: €155k▲ +4.6% vs 2023highest in 5 years
2025: €49k▼ -68.1% vs 2024lowest in 5 years
Net result€43k-€86k▲ 99.5%€85k▼ 1.3%€89k▲ 5.0%€-15k
2021: €43k
2022: €86k▲ +99.5% vs 2021
2023: €85k▼ -1.3% vs 2022
2024: €89k▲ +5.0% vs 2023highest in 5 years
2025: €-15k▼ -117% vs 2024lowest 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 falls in 2025; 2025 is 68% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.80M
Fixed assets
€4.64M ▲ 107%
Current assets
€158k ▼ 25.2%
Equity and liabilities €4.80M
Equity
€598k ▼ 2.5%
Debt
€4.20M ▲ 129%
Debt's share of the balance-sheet total rises from 75.0% to 87.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€278k▲
2024 · €263k
Cash flow
€213k▲
2024 · €197k
Current ratio
0.16▼
2024 · 0.41
Debt to equity
7.02▲
2024 · 3.00
ROE
-2.5%▼
2024 · 14.5%
ROA
-0.3%▼
2024 · 3.6%
Interest coverage
4.30▼
2024 · 6.87
Debt ≤ 1 year
€1.01M▲
2024 · €521k
Debt > 1 year
€3.19M▲
2024 · €1.32M
Staff costs
€11k▲
2024 · €10k
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 · 46 lines
Balance sheet
Code20242025
Assets
Total assets20/58€2.45M€4.80M▲
Fixed assets21/28€2.24M€4.64M▲
Tangible fixed assets22/27€2.24M€4.64M▲
Land and buildings22€2.20M€4.51M▲
Plant, machinery and equipment23€39k€27k▼
Furniture and vehicles24€259€103k▲
Current assets29/58€211k€158k▼
Amounts receivable within one year40/41€152k€152k=
Other amounts receivable41€152k€152k=
Cash at bank and in hand54/58€59k€6k▼
Equity and liabilities
Total equity and liabilities10/49€2.45M€4.80M▲
Equity10/15€614k€598k▼
Contributions10/11€242k€242k=
Capital10€242k€242k=
Issued capital100€242k€242k=
Reserves13€66k€66k=
Non-distributable reserves130/1€24k€24k=
Legal reserve130€24k€24k=
Distributable reserves133€42k€42k=
Profit (loss) carried forward14€305k€290k▼
Amounts payable17/49€1.84M€4.20M▲
Amounts payable after more than one year17€1.32M€3.19M▲
Financial debts170/4€1.32M€3.19M▲
Amounts payable within one year42/48€521k€1.01M▲
Current portion of amounts payable after more than one year42€143k€197k▲
Trade debts44€19k€785▼
Suppliers440/4€19k€785▼
Taxes, remuneration and social security45€30k€1k▼
Taxes450/3€30k-
Remuneration and social security454/9€93€1k▲
Other amounts payable47/48€328k€815k▲
Income statement
Code20242025
Remuneration, social security and pensions62€10k€11k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€108k€228k▲
Other operating charges640/8€27k€41k▲
Gross operating margin9900€299k€330k▲
Operating profit (loss)9901€155k€49k▼
Financial income75/76B€1€9▲
Recurring financial income75€1€9▲
Financial charges65/66B€38k€65k▲
Recurring financial charges65€38k€65k▲
Profit (loss) for the period before taxes9903€117k€-15k▼
Income taxes67/77€28k-
Profit (loss) for the period9904€89k€-15k▼
Profit (loss) for the period to be appropriated9905€89k€-15k▼
Appropriation of the result
Profit (loss) to be appropriated9906€305k€290k▼
Profit (loss) brought forward from the previous period14P€216k€305k▲
The notes to these accounts (7 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €980 | €4k | €10k | €11k | ▲ 12.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €132k | €130k | €129k | €108k | €228k | ▲ 112% |
| Other operating charges640/8 | - | €25k | €28k | €27k | €41k | ▲ 52.6% |
| Gross operating margin9900 | €264k | €292k | €309k | €299k | €330k | ▲ 10.2% |
| Operating profit (loss)9901 | €107k | €137k | €148k | €155k | €49k | ▼ 68.1% |
| Financial income75/76B | - | - | - | €1 | €9 | ▲ 1,702% |
| Recurring financial income75 | €229 | - | - | €1 | €9 | ▲ 1,702% |
| Financial charges65/66B | - | €37k | €37k | €38k | €65k | ▲ 69.0% |
| Recurring financial charges65 | €49k | €37k | €37k | €38k | €65k | ▲ 69.0% |
| Profit (loss) for the period before taxes9903 | €58k | €100k | €111k | €117k | €-15k | ▼ 113% |
| Income taxes67/77 | €15k | €14k | €27k | €28k | - | - |
| Profit (loss) for the period9904 | €43k | €86k | €85k | €89k | €-15k | ▼ 117% |
| Profit (loss) for the period to be appropriated9905 | €43k | €86k | €85k | €89k | €-15k | ▼ 117% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.64M | €2.58M | €2.51M | €2.45M | €4.80M | ▲ 95.7% |
| Fixed assets21/28 | €2.52M | €2.44M | €2.33M | €2.24M | €4.64M | ▲ 107% |
| Tangible fixed assets22/27 | €2.52M | €2.44M | €2.33M | €2.24M | €4.64M | ▲ 107% |
| Land and buildings22 | - | €2.33M | €2.25M | €2.20M | €4.51M | ▲ 105% |
| Plant, machinery and equipment23 | - | €83k | €64k | €39k | €27k | ▼ 29.8% |
| Furniture and vehicles24 | - | €33k | €11k | €259 | €103k | ▲ 39,484% |
| Current assets29/58 | €117k | €141k | €183k | €211k | €158k | ▼ 25.2% |
| Amounts receivable within one year40/41 | €85k | €86k | €161k | €152k | €152k | = |
| Other amounts receivable41 | - | €86k | €161k | €152k | €152k | = |
| Cash at bank and in hand54/58 | €32k | €55k | €22k | €59k | €6k | ▼ 89.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.64M | €2.58M | €2.51M | €2.45M | €4.80M | ▲ 95.7% |
| Equity10/15 | €355k | €440k | €525k | €614k | €598k | ▼ 2.5% |
| Contributions10/11 | €242k | €242k | €242k | €242k | €242k | = |
| Capital10 | - | €242k | €242k | €242k | €242k | = |
| Issued capital100 | - | €242k | €242k | €242k | €242k | = |
| Reserves13 | €66k | €66k | €66k | €66k | €66k | = |
| Non-distributable reserves130/1 | - | €24k | €24k | €24k | €24k | = |
| Legal reserve130 | - | €24k | €24k | €24k | €24k | = |
| Distributable reserves133 | - | €42k | €42k | €42k | €42k | = |
| Profit (loss) carried forward14 | €46k | €132k | €216k | €305k | €290k | ▼ 5.0% |
| Amounts payable17/49 | €2.28M | €2.14M | €1.99M | €1.84M | €4.20M | ▲ 129% |
| Amounts payable after more than one year17 | €1.71M | €1.62M | €1.47M | €1.32M | €3.19M | ▲ 142% |
| Financial debts170/4 | - | €1.62M | €1.47M | €1.32M | €3.19M | ▲ 142% |
| Amounts payable within one year42/48 | €568k | €528k | €521k | €521k | €1.01M | ▲ 94.7% |
| Current portion of amounts payable after more than one year42 | - | €175k | €165k | €143k | €197k | ▲ 37.5% |
| Trade debts44 | €3k | €17k | €10k | €19k | €785 | ▼ 95.9% |
| Suppliers440/4 | - | €17k | €10k | €19k | €785 | ▼ 95.9% |
| Taxes, remuneration and social security45 | - | - | €3k | €30k | €1k | ▼ 96.4% |
| Taxes450/3 | - | - | €3k | €30k | - | - |
| Remuneration and social security454/9 | - | - | - | €93 | €1k | ▲ 1,062% |
| Other amounts payable47/48 | - | €336k | €344k | €328k | €815k | ▲ 148% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €43k | €86k | €85k | €89k | €-15k | ▼ 117% |
| + Depreciation and write-downs630 | €132k | €130k | €129k | €108k | €228k | ▲ 112% |
| Operating cash flow (approximation) | €175k | €216k | €213k | €197k | €213k | ▲ 8.4% |
| Investment in fixed assets (approximation) | - | €-54k | €-14k | €-21k | €-2.63M | ▼ 12,425% |
| Change in cash | - | €23k | €-33k | €37k | €-53k | ▼ 244% |
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
31-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Weakest financial yearnet €-15k
Net result drops to €-15k, the lowest in the series.
08-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 8 days late
2024
30-09
Financial
Highest result since 2018net €89k ▲5%
Operating result €155k, net result €89k, both a record.
01-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 1 day late
2023
30-09
Financial
Equity above €500kEq €525k ▲19.2%
4 profitable years in a row build equity to €525k.
24-03
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
24-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
18-03
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-09
Financial
Back to profitnet €6k
Net result €6k after 2 loss-making years.
30-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
20-03
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
20-02
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
14-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
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.
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Directors · office · real estate
Directors
6 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, Zutendaal · 1 establishment unit since 1990
Ground area
2,656 m²
Building footprint
374 m²
Volume, LiDAR
1,723 m³
Parcel 71582E0431/00M031, Flanders · tallest building 8.5 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
MAESSEN PROJECTS NV
since 19902.047.454.026
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71582E0431/00M031 | Flanders | 2,656 m² | 1 · 374 m² | 8.5 m · 2 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.
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Of 9,136 companies in sector 68201 we hold annual accounts for 6,765. 5,010 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded22-02-1990
Fiscal year end30-09
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
Scores and ratios are computed by Checked and are not a credit decision.