MAHE
ActiveMAHE has been active since 2000 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €234k and a net result of €30k. Equity is growing by ~10.3% per year across the filed fiscal years. Its solvency ranks better than 84% of 435 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
90
/ 100
Excellent▼ -4 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability64▲+19
Solvency100=
Growth78=
Stability100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €21k at 30 days acceptable
Liquidity ample (current ratio 3.65 against 9.12 in 2024), and 25.8% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six 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 79
Relative position
BE, all sectors
reference
Sector 79
higher
← 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
74.2%
Return on assets
9.5%
Age of the figures
8 mo
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 15-06-2026, 46 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
46 d early
2024
22 d early
2023
40 d early
2022
132 d early
2021
122 d early
2020
108 d early
2019
121 d early
← before the deadline
after the deadline →
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
09-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€234k▼ 32.6%
2024 · €348k
2018: €193k
2019: €207k
2020: €186k
2021: €250k
2022: €297k
2023: €317k
2024: €348k
2018 → 2025
Total assets
€316k▼ 18.3%
2024 · €386k
2018: €305k
2019: €314k
2020: €335k
2021: €312k
2022: €341k
2023: €382k
2024: €386k
2018 → 2025
Net result
€30k▼ 4.3%
2024 · €31k
2018: €22k
2019: €35k
2020: €-21k
2021: €64k
2022: €47k
2023: €19k
2024: €31k
2018 → 2025
Working capital
€189k▼ 31.4%
2024 · €276k
2018: €133k
2019: €141k
2020: €113k
2021: €174k
2022: €233k
2023: €262k
2024: €276k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€250k-€297k▲ 19.0%€317k▲ 6.5%€348k▲ 9.9%€234k▼ 32.6%
Operating result€72k-€56k▼ 22.7%€30k▼ 47.1%€47k▲ 57.9%€45k▼ 3.0%
Net result€64k-€47k▼ 26.2%€19k▼ 59.4%€31k▲ 62.0%€30k▼ 4.3%
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 3% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €316k
Fixed assets
€55k▼ 28.3%
Current assets
€261k▼ 15.9%
Equity and liabilities €316k
Equity
€234k▼ 32.6%
Debt
€81k▲ 111%
The debt ratio rises from 10.0% to 25.8%: debt grows while equity shrinks.
Key figures and ratios
EBITDA
€68k▲
2024 · €67k
Cash flow
€52k▲
2024 · €51k
Solvency
74.2%▼
2024 · 90.0%
Current ratio
3.65▼
2024 · 9.12
Quick ratio
3.65▼
2024 · 9.12
Debt / equity
0.35▲
2024 · 0.11
ROE
12.7%▲
2024 · 9.0%
ROA
9.5%▲
2024 · 8.1%
Interest coverage
35.29▼
2024 · 54.82
Debt
€81k▲
2024 · €39k
Debt ≤ 1 year
€72k▲
2024 · €34k
Income taxes
€15k▼
2024 · €16k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€386k€316k▼
Fixed assets21/28€76k€55k▼
Tangible fixed assets22/27€76k€55k▼
Land and buildings22€39k€26k▼
Plant, machinery and equipment23€2k€1k▼
Furniture and vehicles24€35k€28k▼
Current assets29/58€310k€261k▼
Amounts receivable within one year40/41€1k€994▼
Other amounts receivable41€1k€994▼
Current investments50/53€65k€67k▲
Cash at bank and in hand54/58€227k€183k▼
Deferred charges and accrued income490/1€17k€11k▼
Equity and liabilities
Total equity and liabilities10/49€386k€316k▼
Equity10/15€348k€234k▼
Contributions10/11€35k€35k=
Reserves13€311k€197k▼
Distributable reserves133€311k€197k▼
Profit (loss) carried forward14€2k€2k=
Amounts payable17/49€39k€81k▲
Amounts payable within one year42/48€34k€72k▲
Trade debts44€28k€28k▲
Suppliers440/4€28k€28k▲
Advances received on contracts in progress46€1k-
Taxes, remuneration and social security45€5k€8k▲
Taxes450/3€5k€8k▲
Other amounts payable47/48-€35k
Accrued charges and deferred income492/3€5k€10k▲
Income statement
Code20242025
Non-recurring operating income76A-€920
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€20k€22k▲
Other operating charges640/8€4k€2k▼
Non-recurring operating charges66A€397-
Gross operating margin9900€71k€70k▼
Operating profit (loss)9901€47k€45k▼
Financial income75/76B€1k€2k▲
Recurring financial income75€1k€2k▲
Financial charges65/66B€1k€2k▲
Recurring financial charges65€1k€2k▲
Profit (loss) for the period before taxes9903€47k€45k▼
Income taxes67/77€16k€15k▼
Profit (loss) for the period9904€31k€30k▼
Profit (loss) for the period to be appropriated9905€31k€30k▼
Appropriation of the result
Profit (loss) to be appropriated9906€34k€32k▼
Profit (loss) brought forward from the previous period14P€2k€2k=
Transfer from equity791/2-€143k
Transfer to equity691/2€31k€30k▼
To other reserves6921€31k€30k▼
Profit to be distributed694/7-€143k
Return on contributions (dividend)694-€143k
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
15-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
09-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
21-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
21-03
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €64k
Net result €64k after one loss-making year.
31-12
Financial
Liquidity doublescurrent ratio 3.96
Current ratio from 1.88 to 3.96; short-term debt falls from €128k to €59k.
31-12
Financial
Equity above €200kEq €250k ▲34.6%
Equity rises from €186k to €250k.
14-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Weakest financial yearnet €-21k ▼160%
Net result drops to €-21k, the lowest in the series; recovery starts the following year.
01-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Equity above €200kEq €207k ▲7%
2 profitable years in a row build equity to €207k.
08-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
05-04
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
24-04
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Laarne · 1 establishment unit since 2000
Ground area
724 m²
Parcel 42009C0040/00D000, Flanders. Linked by address, not a title deed.
1 establishment unit
MAHE BVBA
since 20002.099.455.231
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42009C0040/00D000 | Flanders | 724 m² | - | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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 1,430 companies in sector 79110 we hold annual accounts for 873. 736 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded19-01-2000
Fiscal year end31-12
Activities, NACEBEL
79110Travel agency activities
49320Taxi operation
49330On-demand passenger transport by chauffeured vehicle
Sources
Crossroads Bank for EnterprisesNational Bank · 25 filingsAddress and cadastre registers
Data from official sources, last processed on 07-09-2026. Scores and ratios are computed by Checked and are not a credit decision.