Equity
-€1.8m
Debts exceed assets in financial year 2025.
MAHER
Lifetime
18 annual accounts with figures on one time axispeak €480,440 (2008)
-€7,722▲ €160,955
lowest -€451,572 (2009)
-€69,029▲ €163,856
peak -€344,628 (2008)
-€1.8m▼ €69,029
€3.8m▲ 6.4%
Board3 names since 2019
3 directorsGOLDBERG Charles and 2 others
Owners5 names in the annual accounts
listedCOTRADIM and 1 other
Documentsfilings and deeds
02-07-202629 days before the deadline
2025financial year
Gross margin from -€168,677 to -€7,722Loss of €69,029Investments €158,146
Key points
from the 2025 annual accountsLosses
-€1.0m in twelve years
Every financial year from 2014 to 2025 closed with a loss. 2024 was the heaviest.
Debts
€3.8m 188% of the balance sheet
After one year 77%Within one year 23%
Of this, €856,146 falls due within a year.
Investments
€158,146 76.5 × depreciation
Green is investment, beige is depreciation.
At the same address
123 companies
Position in the sector
-88.4%
Lower solvency than 95% of companies in real estate. Sector median 38.2% · 5,810 companies.
Net result +70%: other schema
Checked score
53
Fair
Financially stronger than 20% of micro companies in real estate (NACE 68)
Probability in this band: 1.5% to 4.2%
Negative equity caps the score at 59.
Bankruptcy probability within 12 months
0.8% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 26,627 companies (NACE 68, micro).
About 8 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 1.4%
01-2025: 1.4%● unchanged vs 12-2024
02-2025: 1.4%● unchanged vs 01-2025
03-2025: 1.4%● unchanged vs 02-2025
04-2025: 1.3%▼ -0.1 percentage points vs 03-2025
05-2025: 1.3%● unchanged vs 04-2025
06-2025: 1.3%● unchanged vs 05-2025
07-2025: 1.4%▲ +0.1 percentage points vs 06-2025
08-2025: 1.8%▲ +0.4 percentage points vs 07-2025highest value
09-2025: 1.6%▼ -0.2 percentage points vs 08-2025
10-2025: 1.6%● unchanged vs 09-2025
11-2025: 1.6%● unchanged vs 10-2025
12-2025: 1.6%● unchanged vs 11-2025
01-2026: 1.6%● unchanged vs 12-2025
02-2026: 1.6%● unchanged vs 01-2026
03-2026: 1.6%● unchanged vs 02-2026
04-2026: 1.5%▼ -0.1 percentage points vs 03-2026
05-2026: 1.5%● unchanged vs 04-2026
06-2026: 1.5%● unchanged vs 05-2026
07-2026: 1.5%● unchanged vs 06-2026
08-2026: 0.8%▼ -0.7 percentage points vs 07-2026lowest value
09-2026: 0.8%● unchanged vs 08-2026lowest value
10-2026: 0.8%● unchanged vs 09-2026
11-2026: 0.8%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Capped at 59: negative equity
Liquidity: current ratio 0.00, cash €3,678
Negative equity -€1.8m
1 of the last 3 accounts late
lowers risk
Size: total assets €2.0m
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, micro). It does better than 5% of them on solvency, 23% on liquidity, 17% on profitability and 36% on growth.
The bankruptcy probability was computed on 10-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 1,216 companies had the same profile as MAHER has now. Each dot stands for 4 companies, two years later.
95.6%
were still trading
2.6%
stopped another way
1.1%
went bankrupt
Another 0.7% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MAHER itself: 0.8% within 12 months.
Test of the method
The method was tested on the 497,447 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 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
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 1,216 companies, not a prediction for MAHER. 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
No credit on open account
Liquidity is insufficient, with a current ratio of 0.0 (0.0 in 2024), below 1. Short-term debt is 43% and cash 0.2% of total assets. Equity is negative.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€1.8m
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 02-07-2026, 29 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
29 days early
2024
21 days late
2023
44 days late
2022
22 days late
2021
95 days late
2020
45 days late
2019
7 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 27 days after the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 22 August (4 of the last 5 accounts filed within 51 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
11-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- COTRADIM 80%equity €4.3m (2025) · 2022 annual accounts of COTRADIM
- TAO BV consolidatesequity €21.1m (2025) · annual accounts 2022
- KETER INVEST 20%score 57equity €3.3m (2025) · 2022 annual accounts of KETER INVEST
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0889838507
1 director appointed, 3 reappointments
Reappointments: VLEUGELS Renilde, GOLDBERG Charles and NUTKEWITZ Vivian · Appointment: VLEUGELS Renilde (managing director) · Board meeting of 04-12-2023 · Gazette deed
3 directors reappointed
Vleugels Renilde (managing director), Goldberg Charles and Nutkewítz Vivian · General meeting of 16-05-2019 · Gazette deed
Incorporation
published on 07-06-2007 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| MAHER Antwerp | €2.0m | -€7,722 | -88.4% | - |
| KOMITO GREEN Merchtem | €2.0m | -€47,287 | -1.9% | - |
| Dracir Holdings Koksijde | €2.2m | -€280 | 64.9% | - |
| AURA GRIMBERGEN INVEST Sint-Gillis (bij-Brussel) | €1.9m | -€244,070 | 28.5% | - |
| R. ESTATE Stekene | €2.4m | -€11,191 | -5.1% | - |
| Vefica Turnhout | €1.7m | -€3,921 | 68.6% | - |
| Newmo Westerlo Stabroek | €1.8m | -€4,670 | 14.7% | 0 |
These companies have the same main activity as MAHER: renting and operating of own or leased non-residential real estate, excluding land (NACE 68203). They are comparable in size and age: total assets between €1.7m and €2.4m, founded between 1998 and 2009.
Official details
Source: KBO- Status
- Active since 05-06-2007Normal situation
- Registered office
- 124 active companies are registered at this address2 started in the 12 months before. Source: KBO register, as of 10 November 2026.
- Activity
- Renting and operating of own or leased non-residential real estate, excluding landNACE 68203
- Establishment unit
- 2.166.088.2912018 Antwerp, since 04-06-2007
- Financial year end
- 31 December
- Peppol
- Reachable since 08-12-2025
Annual accounts 2025
- €2.0m▲ 8.5%
- Filing
- Filed on 02-07-2026, 29 days before the end of the filing period
Companies linked to MAHER
Parent and group
Insights on MAHER
MAHER has existed since 2007. The gross margin fell from €295,386 in 2013 to €3,842 in 2014.
COTRADIM holds 80% of the shares.
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 MAHER
- What is the company number of MAHER?
- The company number of MAHER is 0889.838.507. The VAT number is the same number with BE in front: BE 0889.838.507.
- Where is MAHER based?
- The registered office is at Pelikaanstraat 78, 2018 Antwerp.Company details
- What does MAHER do?
- According to the KBO register, the main activity is renting and operating of own or leased non-residential real estate, excluding land (NACE 68203).
- What is the legal form of MAHER?
- MAHER is a public limited company (NV).
- When was MAHER founded?
- MAHER was founded on 05-06-2007.
- Is MAHER still active?
- Yes, MAHER is an active enterprise in the KBO register.
- What is the turnover of MAHER?
- The annual accounts for financial year 2025 state no turnover.Financials
- Is MAHER profitable?
- In financial year 2025, MAHER made a loss of €69,029.
- Where can I find the annual accounts of MAHER?
- MAHER filed 18 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of MAHER due?
- MAHER must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
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