Mahieu
ActiveMahieu has been active since 1982 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.01M and a net result of €-145k. Equity is shrinking by ~5.8% per year across the filed fiscal years. Its solvency ranks better than 24% of 479 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
59
/ 100
Fair
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability29▲+5
Solvency46▼-4
Growth32=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €55k at 30 days acceptable
Liquidity tight (current ratio 1.25 against 1.47 in 2024; short-term debt: 45.9% and cash: 13.2% of total assets), and 78.8% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Nine signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 01
Relative position
BE, all sectors
reference
Sector 01
lower
← 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
21.2%
Return on assets
-3%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
19202122232425
2019 to 2025 · latest year €-145k
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 24% of 479 sector peers (2025).
NBB · sector comparisonPosition among 479 sector peers
Solvency
better than 24%
← weakest
strongest →
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 30-07-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
6 d early
2023
13 d early
2022
3 d early
2021
31 d late
2020
8 d early
2019
113 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
20-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-145k▲ 17.0%
2024 · €-175k
2019: €805k
2020: €-72k
2021: €-38k
2022: €26k
2023: €-17k
2024: €-175k
2019 → 2025
Working capital
€551k▼ 26.2%
2024 · €745k
2019: €919k
2020: €1.02M
2021: €995k
2022: €713k
2023: €869k
2024: €745k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.46M-€1.48M▲ 1.8%€1.33M▼ 10.1%€1.16M▼ 13.1%€1.01M▼ 12.6%
Operating result€12k-€-6k€139k€-92k€-76k▲ 16.8%
Net result€-38k-€26k€-17k€-175k▼ 928%€-145k▲ 17.0%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €76k in 2025 against €92k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.76M
Fixed assets
€2.03M▼ 8.5%
Current assets
€2.74M▲ 17.8%
Equity and liabilities €4.76M
Equity
€1.01M▼ 12.6%
Provisions
€291k▼ 10.3%
Debt
€3.46M▲ 13.2%
The debt ratio rises from 67.4% to 72.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€209k▲
2024 · €202k
Cash flow
€140k▲
2024 · €118k
Solvency
21.2%▼
2024 · 25.5%
Current ratio
1.25▼
2024 · 1.47
Quick ratio
1.20▼
2024 · 1.41
Debt / equity
3.42▲
2024 · 2.64
ROE
-14.4%▲
2024 · -15.1%
ROA
-3.0%▲
2024 · -3.9%
Interest coverage
1.64▲
2024 · 1.26
Debt
€3.46M▲
2024 · €3.06M
Debt ≤ 1 year
€2.19M▲
2024 · €1.58M
Debt > 1 year
€1.27M▼
2024 · €1.47M
Income taxes
€909▼
2024 · €7k
Staff costs
€1.55M▼
2024 · €1.62M
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€4.54M€4.76M▲
Fixed assets21/28€2.21M€2.03M▼
Intangible fixed assets21€953€0▼
Tangible fixed assets22/27€2.09M€1.90M▼
Land and buildings22€375k€335k▼
Plant, machinery and equipment23€254k€221k▼
Furniture and vehicles24€127k€145k▲
Leasing and similar rights25€1.33M€1.18M▼
Assets under construction and advance payments27-€18k
Financial fixed assets28€122k€122k▲
Current assets29/58€2.33M€2.74M▲
Amounts receivable after more than one year29€424k€426k▲
Other amounts receivable291€424k€426k▲
Stocks and contracts in progress3€103k€113k▲
Stocks30/36€103k€113k▲
Amounts receivable within one year40/41€1.18M€1.55M▲
Trade receivables40€1.01M€1.35M▲
Other amounts receivable41€176k€199k▲
Cash at bank and in hand54/58€579k€628k▲
Deferred charges and accrued income490/1€37k€27k▼
Equity and liabilities
Total equity and liabilities10/49€4.54M€4.76M▲
Equity10/15€1.16M€1.01M▼
Contributions10/11€375k€375k=
Capital10€375k€375k=
Issued capital100€375k€375k=
Reserves13€727k€637k▼
Non-distributable reserves130/1€38k€38k=
Legal reserve130€38k€38k=
Tax-exempt reserves132€582k€517k▼
Distributable reserves133€108k€82k▼
Profit (loss) carried forward14€55k€0▼
Provisions and deferred taxes16€324k€291k▼
Deferred taxes168€324k€291k▼
Amounts payable17/49€3.06M€3.46M▲
Amounts payable after more than one year17€1.47M€1.27M▼
Financial debts170/4€1.47M€1.27M▼
Amounts payable within one year42/48€1.58M€2.19M▲
Current portion of amounts payable after more than one year42€296k€311k▲
Financial debts43€624k€664k▲
Credit institutions430/8€624k€664k▲
Trade debts44€588k€1.11M▲
Suppliers440/4€588k€1.11M▲
Taxes, remuneration and social security45€73k€108k▲
Taxes450/3€13k€18k▲
Remuneration and social security454/9€60k€89k▲
Other amounts payable47/48€0-
Accrued charges and deferred income492/3€2k€2k▼
Income statement
Code20242025
Non-recurring operating income76A€4k€22k▲
Remuneration, social security and pensions62€1.62M€1.55M▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€293k€285k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€386
Other operating charges640/8€54k€92k▲
Non-recurring operating charges66A€19k€81k▲
Gross operating margin9900€1.90M€1.94M▲
Operating profit (loss)9901€-92k€-76k▲
Financial income75/76B€50k€26k▼
Recurring financial income75€50k€26k▼
Financial charges65/66B€160k€128k▼
Recurring financial charges65€160k€128k▼
Profit (loss) for the period before taxes9903€-202k€-178k▲
Transfer from deferred taxes780€33k€33k=
Income taxes67/77€7k€909▼
Profit (loss) for the period9904€-175k€-145k▲
Transfer from tax-exempt reserves789€65k€65k=
Profit (loss) for the period to be appropriated9905€-110k€-81k▲
Appropriation of the result
Profit (loss) to be appropriated9906€55k€-25k▼
Profit (loss) brought forward from the previous period14P€166k€55k▼
Transfer from equity791/2-€25k
Social balance
Average headcount (FTE)908726.324.3▼
The notes to these accounts (31 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
30-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
25-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Weakest financial yearnet €-175k
Net result drops to €-175k, the lowest in the series; recovery starts the following year.
18-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
28-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Back to profitnet €26k
Net result €26k after 2 loss-making years.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
23-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
09-04
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
19-10
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
20-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
04-10
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
9 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, Oudenburg · 1 establishment unit since 1982
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Leo Baekelandlaan 58460 OudenburgGround area
1.5 ha
Building footprint
2,451 m²
Volume, LiDAR
2,630 m³
Parcel 35014C0378/00N000, Flanders · tallest building 10.9 m. Linked by address, not a title deed.
1 establishment unit
MAHIEU NV
since 19822.019.967.986
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 35014C0378/00N000 | Flanders | 1.5 ha | 1 · 2,451 m² | 10.9 m |
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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 6 entries · 15,706 EUR awarded · 14,952 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 5,536 EUR | 5,536 EUR |
| 2024 | 1 | 704 EUR | 704 EUR |
| 2023 | 3 | 7,864 EUR | 7,963 EUR |
| 2022 | 1 | 1,602 EUR | 749 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Subsidies ecologisch en veilig transport (stopgezet)
Stagebonus (stopgezet)
Recognitions · licences · registrations
Recognised contractor
6 categoriesMahieu NV17826
Dual-learning approval
1 live approval · 1 endedVloerder - tegelzetter duaal (so)
Similar companies · same sector, comparable size
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BOOMKWEKERIJ HELLIN
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AKEBIA
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Of 641 companies in sector 01301 we hold annual accounts for 297. 219 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded23-02-1982
Fiscal year end31-12
Activities, NACEBEL
01123
01301Crop and animal production, hunting and related service activities
01410Raising of dairy cattle
81300Landscape service activities
42110Construction of roads and motorways
45230
46216Wholesale of agricultural produce and animal feed, general range
51210
Sources
Crossroads Bank for EnterprisesNational Bank · 42 filingsAddress and cadastre registers
Data from official sources, last processed on 18-09-2026. Scores and ratios are computed by Checked and are not a credit decision.