Equity
€776,443 ▲ 2.3%
MAHA has made a profit without a break since 2021.
MAHA
Lifetime
19 annual accounts with figures on one time axis, 34 filings since 1992peak €397,789 (2024)
€172,047▼ 56.7%
lowest -€84,278 (2020)
€17,353▼ 90.6%
peak €776,443 (2025)
€776,443▲ 2.3%
€2.5m▼ 1.9%
peak 0.2 FTE (2015)
-not published
Board4 names since 2015
3 directors and 2 others
Documentsfilings and deeds
05-07-202626 days before the deadline
2025micro format
Gross margin from €397,789 to €172,047Result from €185,050 to €17,353Investments €404,848Cash from €788,452 to €433,601
Key points
from the 2025 annual accountsResult
€17,353 ▼ 90.6%
The result fell in 2025: the 2024 profit included a one-off income of €108,099.
Turnover
≈ €430,000 estimated
The micro format states no turnover.
Debts
€2.5m 76% of the balance sheet
Financial debts 6%Suppliers 0%Taxes and wages 1%Other 93%
Of this, €2.3m falls due within a year.
Investments
€404,848 3.6 × depreciation
Green is investment, beige is depreciation. Land and buildings stand 13.6% higher than in 2024.
Filings
34 annual accounts since 1992
The 2024 accounts came 1 day late. The other nine of the last ten were filed on time.
Checked score
Bankruptcy probability within 12 months
Financial strength
Score breakdown
Comparable companies, two years later
In July 2024, 4,684 companies had the same profile as MAHA has now. Each dot stands for 12 companies, two years later.
97.0%
were still trading
1.9%
stopped another way
1.1%
went bankrupt
Test of the method
The method was tested on the 497,762 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 | 2.9% | 3.1% |
| 10 | 5.6% | 6.1% |
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 4,684 companies, not a prediction for MAHA. 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
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Signals
Recent changes
4 directors reappointed
(director), (director), (director) and (managing director) · Director discharge: · Director discharge: · General meeting of 14-02-2024 · Gazette deed
1 director appointed, 3 reappointments
Reappointments: (managing director), and (managing director) · Appointment: (managing director) · General meeting of 13-11-2019 · Gazette deed
Reappointments: (managing director) and (director)
General meeting of 29-06-2015 · Gazette deed
First establishment
Boondaalse Steenweg 425, Ixelles
Official details
Source: KBO- Status
- Active since 02-09-1991Normal situation
- Activity
- “L’acquisition,la vente,l’échange de tous immeubles,bâtis ou non bâtis,la prise à bail,la location de toutes…” (deed in French)From the articles, 2 activitiesNo NACE code in the KBO yet
- Establishment unit
- 2.219.884.6891050 Ixelles, since 01-10-2011
- Financial year end
- 31 December
- Peppol
- Not found in the Peppol Directory
Annual accounts 2025
- €3.3m▼ 0.9%
- Filing
- Filed on 05-07-2026, 26 days before the end of the filing period
Insights on MAHA
MAHA files the micro format. That format states no turnover. The gross margin rose from €32,693 in 2007 to €172,047 in 2025.
The balance sheet grew most from 2020 to 2022 through fixed assets.
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 MAHA
- What is the company number of MAHA?
- The company number of MAHA is 0445.047.084. The VAT number is the same number with BE in front: BE 0445.047.084.
- Where is MAHA based?
- The registered office is at Boondaalse Steenweg 425, 1050 Ixelles.Company details
- What is the legal form of MAHA?
- MAHA is a public limited company (NV).
- When was MAHA founded?
- MAHA was founded on 02-09-1991.
- Is MAHA still active?
- Yes, MAHA is an active enterprise in the KBO register.
- What is the turnover of MAHA?
- The turnover in financial year 2025 is ≈ €430,000. This figure is estimated from the gross margin of €172,047 and 2,204 comparable companies of the same size. It probably lies between €290,000 and €670,000. It is a rough estimate. In financial year 2024 turnover was €252,746.Financials
- Is MAHA profitable?
- In financial year 2025, MAHA made a profit of €17,353.
- Where can I find the annual accounts of MAHA?
- MAHA filed 34 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of MAHA due?
- MAHA must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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