MAHEL
ActiveSummary
MAHEL has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €114,396 and a net result of €25,585. Equity is growing by ~11.8% per year across the filed fiscal years. Its solvency ranks better than 69% of 2604 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability79▲+68
Solvency84▲+16
Growth73▲+14
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €8,000 at 30 days acceptable
Liquidity ample (current ratio 2.94 against 1.6 in 2024; short-term debt: 30.4% and cash: 4.9% of total assets), and 40.8% of the assets are financed with debt.
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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 · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 95
Relative position
BE, all sectors
reference
Repair and maintenance of computers, personal and household goods, and motor vehicles and motorcycles (NACE 95)
about 19% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
59.2%
Return on assets
13.2%
Age of the figures
9 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 14-07-2026, 17 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
17 d early
2024
6 d early
2023
272 d late
2022
20 d early
2021
18 d early
2020
39 d early
2019
21 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 28 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 47% of the sector filed late.
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. Usually files around 14 July (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€325,152▲ 21.4%
2022 · €267,925
EBIT margin
9.9%▲ 12.4pp
2022 · -2.5%
Net result
€25,585
2024 · -€12,620
Working capital
€113,842▲ 61.8%
2024 · €70,364
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 95, Repair and maintenance of computers, personal and household goods, and motor vehicles and motorcycles, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€302,898▲ 64.4%€267,925▼ 11.5%€325,152
Operating result€97,176-€6,717€30,393-€8,038€32,252
Net result€73,356above the sector's middle half-€5,400below the sector's middle half-€6,296below the sector's middle half▼ 16.6%-€12,620below the sector's middle half▼ 100%€25,585within the sector's middle half
EBIT margin32.1%▲ 35.6pp-2.5%▼ 34.6pp9.9%
Equity€113,126within the sector's middle half▲ 184%€107,727within the sector's middle half▼ 4.8%€101,430within the sector's middle half▼ 5.8%€88,810within the sector's middle half▼ 12.4%€114,396within the sector's middle half▲ 28.8%
Total assets€173,090within the sector's middle half▲ 55.2%€163,011within the sector's middle half▼ 5.8%€166,642within the sector's middle half▲ 2.2%€206,409within the sector's middle half▲ 23.9%€193,127within the sector's middle half▼ 6.4%
Debt€59,964▼ 16.4%€55,284▼ 7.8%€65,212▲ 18.0%€117,598▲ 80.3%€78,731▼ 33.1%
Working capital€111,982above the sector's middle half▲ 193%€90,829above the sector's middle half▼ 18.9%€87,801above the sector's middle half▼ 3.3%€70,364within the sector's middle half▼ 19.9%€113,842above the sector's middle half▲ 61.8%
Solvency65.4%above the sector's middle half▲ 29.7pp66.1%above the sector's middle half▲ 0.7pp60.9%within the sector's middle half▼ 5.2pp43.0%within the sector's middle half▼ 17.8pp59.2%within the sector's middle half▲ 16.2pp
Current ratio2.87above the sector's middle half▲ 1.332.64within the sector's middle half▼ 0.222.35within the sector's middle half▼ 0.301.60within the sector's middle half▼ 0.752.94above the sector's middle half▲ 1.34
Return on assets (ROA)42.4%above the sector's middle half▲ 48.8pp-3.3%below the sector's middle half▼ 45.7pp-3.8%below the sector's middle half▼ 0.5pp-6.1%below the sector's middle half▼ 2.3pp13.2%within the sector's middle half▲ 19.4pp
Staff (FTE)4.4
above
within
below
the middle half (P25 to P75) of NACE 95, Repair and maintenance of computers, personal and household goods, and motor vehicles and motorcycles, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €32,252 after a loss of €8,038 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €193,127
Fixed assets
€20,554 ▲ 11.4%
Current assets
€172,573 ▼ 8.2%
Equity and liabilities €193,127
Equity
€114,396 ▲ 28.8%
Debt
€78,731 ▼ 33.1%
Debt's share of the balance-sheet total falls from 57.0% to 40.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€37,690▲
2024 · -€3,718
Cash flow
€31,023▲
2024 · -€8,301
Debt to equity
0.69▼
2024 · 1.32
ROE
22.4%▲
2024 · -14.2%
Interest coverage
139.56▲
2024 · -7.40
Debt ≤ 1 year
€58,731▼
2024 · €117,598
Debt > 1 year
€20,000
Income taxes
€6,396▲
2024 · €4,080
Staff costs
€116,349▼
2024 · €203,067
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,370 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.5%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 31,370 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €302,898 | €267,925 | - | - | €325,152 | - |
| Goods, raw materials, services and sundry goods60/61 | €101,829 | €118,131 | - | - | €171,402 | - |
| Remuneration, social security and pensions62 | €102,115 | €155,089 | €180,250 | €203,067 | €116,349 | ▼ 42.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €417 | €1,244 | €3,568 | €4,320 | €5,438 | ▲ 25.9% |
| Other operating charges640/8 | €2,722 | €2,206 | €1,875 | €177 | €888 | ▲ 403% |
| Non-recurring operating charges66A | - | - | - | - | €5,025 | - |
| Gross operating margin9900 | €202,430 | €151,821 | €216,086 | €199,525 | €159,951 | ▼ 19.8% |
| Operating profit (loss)9901 | €97,176 | -€6,717 | €30,393 | -€8,038 | €32,252 | ▲ 501% |
| Financial income75/76B | €871 | €1,608 | - | - | - | - |
| Recurring financial income75 | €871 | €1,608 | - | - | - | - |
| Financial charges65/66B | €239 | €292 | €475 | €502 | €270 | ▼ 46.2% |
| Recurring financial charges65 | €239 | €292 | €475 | €502 | €270 | ▼ 46.2% |
| Profit (loss) for the period before taxes9903 | €97,808 | -€5,400 | €29,918 | -€8,541 | €31,982 | ▲ 474% |
| Income taxes67/77 | €24,452 | - | €36,214 | €4,080 | €6,396 | ▲ 56.8% |
| Profit (loss) for the period9904 | €73,356 | -€5,400 | -€6,296 | -€12,620 | €25,585 | ▲ 303% |
| Profit (loss) for the period to be appropriated9905 | €73,356 | -€5,400 | -€6,296 | -€12,620 | €25,585 | ▲ 303% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €173,090 | €163,011 | €166,642 | €206,409 | €193,127 | ▼ 6.4% |
| Fixed assets21/28 | €1,145 | €16,897 | €13,629 | €18,446 | €20,554 | ▲ 11.4% |
| Tangible fixed assets22/27 | €684 | €16,437 | €13,169 | €17,985 | €20,093 | ▲ 11.7% |
| Furniture and vehicles24 | €684 | €8,098 | €5,675 | €6,495 | €3,620 | ▼ 44.3% |
| Other tangible fixed assets26 | - | €8,339 | €7,494 | €11,491 | €16,473 | ▲ 43.4% |
| Financial fixed assets28 | €461 | €461 | €461 | €461 | €461 | = |
| Current assets29/58 | €171,946 | €146,113 | €153,013 | €187,962 | €172,573 | ▼ 8.2% |
| Amounts receivable within one year40/41 | €123,879 | €121,185 | €125,398 | €173,100 | €162,843 | ▼ 5.9% |
| Trade receivables40 | €54,875 | €13,651 | €15,446 | €5,580 | - | - |
| Other amounts receivable41 | €69,004 | €107,534 | €109,952 | €167,520 | €162,843 | ▼ 2.8% |
| Cash at bank and in hand54/58 | €43,575 | €21,308 | €22,423 | €14,394 | €9,523 | ▼ 33.8% |
| Deferred charges and accrued income490/1 | €4,491 | €3,620 | €5,191 | €469 | €208 | ▼ 55.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €173,090 | €163,011 | €166,642 | €206,409 | €193,127 | ▼ 6.4% |
| Equity10/15 | €113,126 | €107,727 | €101,430 | €88,810 | €114,396 | ▲ 28.8% |
| Contributions10/11 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €4,173 | €4,173 | €4,173 | €4,173 | €4,173 | = |
| Non-distributable reserves130/1 | €1,138 | €1,138 | €1,138 | €1,138 | €1,138 | = |
| Reserves not available under the articles1311 | €1,138 | €1,138 | €1,138 | €1,138 | €1,138 | = |
| Distributable reserves133 | €3,035 | €3,035 | €3,035 | €3,035 | €3,035 | = |
| Profit (loss) carried forward14 | €90,362 | €84,962 | €78,666 | €66,046 | €91,631 | ▲ 38.7% |
| Amounts payable17/49 | €59,964 | €55,284 | €65,212 | €117,598 | €78,731 | ▼ 33.1% |
| Amounts payable after more than one year17 | - | - | - | - | €20,000 | - |
| Financial debts170/4 | - | - | - | - | €20,000 | - |
| Amounts payable within one year42/48 | €59,964 | €55,284 | €65,212 | €117,598 | €58,731 | ▼ 50.1% |
| Trade debts44 | €4,276 | €8,022 | €5,926 | €6,592 | €1,224 | ▼ 81.4% |
| Suppliers440/4 | €4,276 | €8,022 | €5,926 | €6,592 | €1,224 | ▼ 81.4% |
| Advances received on contracts in progress46 | - | - | - | - | €1,570 | - |
| Taxes, remuneration and social security45 | €55,687 | €47,263 | €59,286 | €111,006 | €55,937 | ▼ 49.6% |
| Taxes450/3 | €45,647 | €8,497 | €30,455 | €33,958 | €25,078 | ▼ 26.1% |
| Remuneration and social security454/9 | €10,040 | €38,765 | €28,831 | €77,049 | €30,859 | ▼ 59.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €73,356 | -€5,400 | -€6,296 | -€12,620 | €25,585 | ▲ 303% |
| + Depreciation and write-downs630 | €417 | €1,244 | €3,568 | €4,320 | €5,438 | ▲ 25.9% |
| Operating cash flow (approximation) | €73,772 | -€4,156 | -€2,728 | -€8,301 | €31,023 | ▲ 474% |
| Investment in fixed assets (approximation) | - | -€16,996 | -€300 | -€9,136 | -€7,545 | ▲ 17.4% |
| Change in cash | - | -€22,267 | €1,115 | -€8,030 | -€4,871 | ▲ 39.3% |
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
14-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €25,585
Net result €25,585 after 3 loss-making years.
31-12
Financial
Equity above €100,000Eq €114,396 ▲28.8%
Equity rises from €88,810 to €114,396.
25-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
29-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 272 days late
2024
31-12
Financial
Weakest financial yearnet -€12,620
Net result drops to -€12,620, the lowest in the series; recovery starts the following year.
2023
11-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
13-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €73,356
Net result €73,356 after one loss-making year.
31-12
Financial
Equity above €100,000Eq €113,126 ▲184%
Equity rises from €39,771 to €113,126.
22-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
21-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 21 days late
Show earlier events
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 30 days late
2018
14-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 14 days late
2017
23-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 23 days late
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, Vorst · 2 establishment units since 2001
Ground area
707 m²
Building footprint
177 m²
Volume, LiDAR
1,904 m³
2 parcels, Brussels, Wallonia · tallest building 16.5 m, ±5 floors. Linked by address, not a title deed.
2 establishment units
de Mérodestraat 391, 1190 Vorst
since 20012.088.593.904
NEW CAR WASH
since 20222.345.870.665
2 parcels
Wallonia
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25014N0148/00A000 | Wallonia | 546 m² | 1 · 104 m² | 10.7 m · 3 fl. |
| 21007A0017/00H005 | Brussels | 162 m² | 1 · 72 m² | 16.5 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 3,205 companies in sector 95316 we hold annual accounts for 754. 522 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
Founded29-07-1998
Fiscal year end31-12
Activities, NACEBEL 2025
95316Washing and cleaning of motor vehicles
E-invoicing
Reachable via Peppol
Peppol ID
0208:0463915564
Also
9925:BE0463915564
Registered
05-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.