MAHE
ActiveSummary
The computed 12-month bankruptcy probability of MAHE is 2.0% (moderate). The 2025 annual accounts show equity of €41k and a net result of €8k. Equity is growing by ~16.4% per year across the filed fiscal years. Its solvency ranks better than 80% of 13417 sector peers (fiscal year 2025). The company has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability84▲+5
Solvency91=
Growth78=
Track record100
Bankruptcy probability, 12 months
2.0%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €3k at 30 days acceptable
Liquidity ample (current ratio 2.75 against 2.64 in 2024; short-term debt: 34.5% and cash: 40.9% of total assets), and 34.5% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five 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 56
Relative position
BE, all sectors
reference
Food and beverage service activities (NACE 56)
about 206% more 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
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
65.5%
Return on assets
12.4%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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
31 d late
2024
1 d late
2023
26 d late
2022
31 d late
2021
31 d late
2020
27 d late
2019
150 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
€54k
EBIT margin
-8.3%
Net result
€8k▲ 94.4%
2024 · €4k
Working capital
€37k▲ 33.2%
2024 · €28k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover
Operating result€4k▼ 48.0%€290▼ 93.0%€6k▲ 2,063%€4k▼ 35.1%€7k▲ 79.3%
Net result€4k▼ 50.5%€172▼ 95.8%€6k▲ 3,362%€4k▼ 34.0%€8k▲ 94.4%
EBIT margin
Equity€23k▲ 21.8%€23k▲ 0.8%€29k▲ 25.9%€33k▲ 13.6%€41k▲ 23.3%
Total assets€35k▲ 43.9%€36k▲ 4.1%€43k▲ 17.2%€50k▲ 17.6%€62k▲ 23.9%
Debt€12k▲ 120%€13k▲ 10.6%€14k▲ 2.1%€17k▲ 26.3%€21k▲ 25.0%
Working capital€13k▼ 19.8%€15k▲ 14.1%€23k▲ 51.4%€28k▲ 24.9%€37k▲ 33.2%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 79% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €62k
Fixed assets
€3k ▼ 34.6%
Current assets
€59k ▲ 30.1%
Equity and liabilities €62k
Equity
€41k ▲ 23.3%
Debt
€21k ▲ 25.0%
Debt's share of the balance-sheet total rises from 34.2% to 34.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€9k▲
2024 · €6k
Cash flow
€9k▲
2024 · €6k
Current ratio
2.75▲
2024 · 2.64
Quick ratio
2.72▲
2024 · 2.59
Debt to equity
0.53▲
2024 · 0.52
ROE
18.9%▲
2024 · 12.0%
ROA
12.4%▲
2024 · 7.9%
Interest coverage
21.35▼
2024 · 41.63
Debt ≤ 1 year
€21k▲
2024 · €17k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1k | €2k | €2k | €2k | €2k | = |
| Other operating charges640/8 | €1k | €1k | €456 | €1k | €2k | ▲ 65.6% |
| Gross operating margin9900 | €7k | €3k | €8k | €7k | €11k | ▲ 57.9% |
| Operating profit (loss)9901 | €4k | €290 | €6k | €4k | €7k | ▲ 79.3% |
| Financial income75/76B | €1 | €653 | €14 | €5 | €779 | ▲ 15,569% |
| Recurring financial income75 | €1 | €653 | €14 | €5 | €779 | ▲ 15,569% |
| Financial charges65/66B | €80 | €771 | €319 | €138 | €420 | ▲ 205% |
| Recurring financial charges65 | €80 | €771 | €319 | €138 | €420 | ▲ 205% |
| Profit (loss) for the period before taxes9903 | €4k | €172 | €6k | €4k | €8k | ▲ 94.4% |
| Profit (loss) for the period9904 | €4k | €172 | €6k | €4k | €8k | ▲ 94.4% |
| Profit (loss) for the period to be appropriated9905 | €4k | €172 | €6k | €4k | €8k | ▲ 94.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €35k | €36k | €43k | €50k | €62k | ▲ 23.9% |
| Fixed assets21/28 | €10k | €8k | €6k | €5k | €3k | ▼ 34.6% |
| Tangible fixed assets22/27 | €7k | €6k | €4k | €2k | €624 | ▼ 72.8% |
| Plant, machinery and equipment23 | €4k | €3k | €2k | €1k | €497 | ▼ 60.6% |
| Furniture and vehicles24 | €3k | €2k | €1k | €710 | €47 | ▼ 93.4% |
| Other tangible fixed assets26 | €1k | €801 | €561 | €320 | €79 | ▼ 75.3% |
| Financial fixed assets28 | €3k | €3k | €3k | €3k | €3k | = |
| Current assets29/58 | €25k | €28k | €36k | €45k | €59k | ▲ 30.1% |
| Stocks and contracts in progress3 | €2k | €1k | €849 | €969 | €648 | ▼ 33.1% |
| Stocks30/36 | €2k | €1k | €849 | €969 | €648 | ▼ 33.1% |
| Amounts receivable within one year40/41 | €14k | €15k | €13k | €16k | €33k | ▲ 107% |
| Trade receivables40 | €4k | €4k | €6k | €6k | €17k | ▲ 204% |
| Other amounts receivable41 | €9k | €12k | €7k | €10k | €16k | ▲ 55.2% |
| Cash at bank and in hand54/58 | €9k | €11k | €22k | €28k | €25k | ▼ 10.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €35k | €36k | €43k | €50k | €62k | ▲ 23.9% |
| Equity10/15 | €23k | €23k | €29k | €33k | €41k | ▲ 23.3% |
| Contributions10/11 | €37k | €37k | €37k | €37k | €37k | = |
| Profit (loss) carried forward14 | €-14k | €-14k | €-8k | €-4k | €3k | ▲ 180% |
| Amounts payable17/49 | €12k | €13k | €14k | €17k | €21k | ▲ 25.0% |
| Amounts payable within one year42/48 | €12k | €13k | €14k | €17k | €21k | ▲ 25.0% |
| Trade debts44 | €12k | €13k | €14k | €17k | €21k | ▲ 21.5% |
| Suppliers440/4 | €12k | €13k | €13k | €17k | €21k | ▲ 21.5% |
| Bills of exchange payable441 | - | - | €93 | - | - | - |
| Taxes, remuneration and social security45 | €219 | €506 | - | - | €600 | - |
| Taxes450/3 | €219 | €506 | - | - | - | - |
| Remuneration and social security454/9 | - | - | - | - | €600 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €4k | €172 | €6k | €4k | €8k | ▲ 94.4% |
| + Depreciation and write-downs630 | €1k | €2k | €2k | €2k | €2k | = |
| Operating cash flow (approximation) | €5k | €2k | €8k | €6k | €9k | ▲ 66.3% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €2k | €11k | €6k | €-3k | ▼ 150% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
01-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 1 day late
2024
26-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 26 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
27-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 27 days late
2020
31-12
Financial
Back to profitnet €8k
Net result €8k after 2 loss-making years.
28-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 150 days late
2019
28-12
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 150 days late
2018
31-12
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 153 days late
2006
11-12
NBB filing
Annual accounts filed
fiscal year 2004 · full schema · 498 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
1 act for this company is 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, Brussel · 1 establishment unit since 2000
Ground area
631 m²
Building footprint
360 m²
Volume, LiDAR
5,261 m³
Parcel 21813A0484/00A002, Brussels · tallest building 19.1 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
THE MUST
since 20002.096.767.836
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21813A0484/00A002 | Brussels | 631 m² | 1 · 360 m² | 19.1 m · 5 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteBrussel2.096.767.836
Similar companies · same sector, comparable size
Jintana Sushi
BE 0724.835.666
Bilzen-Hoeselt · Eq €40,594
FRITAPAPA WAVRE
BE 1002.876.169
Wavre · Eq €40,607
LISANO
BE 0766.889.225
Ukkel · Eq €40,609
NICOLETTO
BE 0889.782.483
Mont-Saint-Guibert · Eq €40,584
BurgerArt
BE 0794.984.680
Koekelare · Eq €40,620
Of 21,861 companies in sector 56112 we hold annual accounts for 9,773. 8,452 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded20-10-1999
Fiscal year end31-12
Activities, NACEBEL 2025
56112Limited-service restaurants, excluding mobile food services
Scores and ratios are computed by Checked and are not a credit decision.