MAHU MEAT
ActiveSummary
MAHU MEAT has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €822,555 and a net result of €70,992. Equity is growing by ~18.3% per year across the filed fiscal years. Its solvency ranks better than 33% of 10519 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability71▼-1
Solvency47▼-1
Growth52=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €50,000 at 30 days acceptable
Liquidity short (current ratio 0.9 against 0.93 in 2024; short-term debt: 25.6% and cash: 10.8% of total assets), and 77.7% of the assets are financed with debt.
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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 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more 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
22.3%
Return on assets
1.9%
Age of the figures
9 mo
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
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
61 d late
2023
12 d early
2022
28 d late
2021
18 d late
2020
9 d early
2019
8 d early
← 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 9 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% 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 18 August (4 of the last 5 filed years within 35 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Is the workforce growing, and do people stay?Employer check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Public money
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#2 fastest grower in Bruges, Wholesale and retail trade sector
Equity
€822,555▼ 1.1%
2024 · €831,455
Total assets
€3.7m▲ 3.3%
2024 · €3.6m
Net result
€70,992▼ 11.1%
2024 · €79,890
Working capital
-€94,060▼ 47.5%
2024 · -€63,775
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, 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
Operating result€16,463▼ 81.8%€61,365▲ 273%€377,659▲ 515%€158,665▼ 58.0%€180,145▲ 13.5%
Net result-€8,141below the sector's middle half€27,590within the sector's middle half€306,182above the sector's middle half▲ 1,010%€79,890within the sector's middle half▼ 73.9%€70,992within the sector's middle half▼ 11.1%
Equity€417,793within the sector's middle half▼ 1.9%€445,383within the sector's middle half▲ 6.6%€751,564above the sector's middle half▲ 68.7%€831,455above the sector's middle half▲ 10.6%€822,555above the sector's middle half▼ 1.1%
Total assets€1.4mwithin the sector's middle half▲ 8.8%€2.8mabove the sector's middle half▲ 102%€2.8mabove the sector's middle half=€3.6mabove the sector's middle half▲ 29.3%€3.7mabove the sector's middle half▲ 3.3%
Debt€952,049▲ 14.3%€2.3m▲ 144%€2.0m▼ 13.2%€2.7m▲ 36.2%€2.9m▲ 4.6%
Working capital-€17,911below the sector's middle half-€277,831below the sector's middle half▼ 1,451%-€32,724below the sector's middle half▲ 88.2%-€63,775below the sector's middle half▼ 94.9%-€94,060below the sector's middle half▼ 47.5%
Solvency30.5%within the sector's middle half▼ 3.3pp16.1%below the sector's middle half▼ 14.4pp27.2%within the sector's middle half▲ 11.1pp23.2%within the sector's middle half▼ 3.9pp22.3%within the sector's middle half▼ 1.0pp
Current ratio0.96below the sector's middle half▼ 0.280.70below the sector's middle half▼ 0.260.96below the sector's middle half▲ 0.260.93below the sector's middle half▼ 0.030.90below the sector's middle half▼ 0.03
Return on assets (ROA)-0.6%below the sector's middle half▼ 5.0pp1.0%within the sector's middle half▲ 1.6pp11.1%above the sector's middle half▲ 10.1pp2.2%within the sector's middle half▼ 8.8pp1.9%within the sector's middle half▼ 0.3pp
Staff (FTE)15.5above the sector's middle half▲ 9.2%15.9above the sector's middle half▲ 2.6%20above the sector's middle half▲ 25.8%21.2above the sector's middle half▲ 6.0%28.3above the sector's middle half▲ 33.5%
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 14% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.7m
Fixed assets
€2.8m ▲ 2.5%
Current assets
€852,922 ▲ 5.9%
Equity and liabilities €3.7m
Equity
€822,555 ▼ 1.1%
Debt
€2.9m ▲ 4.6%
Debt's share of the balance-sheet total rises from 76.8% to 77.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€489,080▲
2024 · €408,874
Cash flow
€379,928▲
2024 · €330,099
Quick ratio
0.61▼
2024 · 0.61
Debt to equity
3.49▲
2024 · 3.30
ROE
8.6%▼
2024 · 9.6%
Interest coverage
6.21▼
2024 · 7.42
Debt ≤ 1 year
€946,982▲
2024 · €869,046
Debt > 1 year
€1.9m▲
2024 · €1.9m
Income taxes
€30,754▲
2024 · €24,651
Staff costs
€1.2m▲
2024 · €994,691
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 4,105 companies that looked in July 2024 the way this one looks now, 0.9% went bankrupt within 24 months and 98% are still going.
- Small
- 10 to 20 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
0.9%
went bankrupt
0.9%
stopped otherwise
98%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.8% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 4,105 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €10,000 | €7,250 | - | - | - |
| Remuneration, social security and pensions62 | €518,183 | €626,015 | €814,789 | €994,691 | €1.2m | ▲ 23.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €146,738 | €215,309 | €231,747 | €250,209 | €308,935 | ▲ 23.5% |
| Other operating charges640/8 | €1,827 | €1,877 | €2,527 | €78,114 | €43,946 | ▼ 43.7% |
| Gross operating margin9900 | €683,211 | €904,565 | €1.4m | €1.5m | €1.8m | ▲ 19.2% |
| Operating profit (loss)9901 | €16,463 | €61,365 | €377,659 | €158,665 | €180,145 | ▲ 13.5% |
| Financial income75/76B | €3,438 | €796 | €1,026 | €997 | €299 | ▼ 70.0% |
| Recurring financial income75 | €3,438 | €796 | €1,026 | €997 | €299 | ▼ 70.0% |
| Financial charges65/66B | €25,106 | €31,813 | €41,886 | €55,121 | €78,698 | ▲ 42.8% |
| Recurring financial charges65 | €25,106 | €31,813 | €41,886 | €55,121 | €78,698 | ▲ 42.8% |
| Profit (loss) for the period before taxes9903 | -€5,205 | €30,349 | €336,800 | €104,541 | €101,746 | ▼ 2.7% |
| Income taxes67/77 | €2,936 | €2,759 | €30,618 | €24,651 | €30,754 | ▲ 24.8% |
| Profit (loss) for the period9904 | -€8,141 | €27,590 | €306,182 | €79,890 | €70,992 | ▼ 11.1% |
| Transfer from tax-exempt reserves789 | €18,750 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €10,609 | €27,590 | €306,182 | €79,890 | €70,992 | ▼ 11.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.4m | €2.8m | €2.8m | €3.6m | €3.7m | ▲ 3.3% |
| Fixed assets21/28 | €972,737 | €2.1m | €2.0m | €2.8m | €2.8m | ▲ 2.5% |
| Intangible fixed assets21 | €5,766 | €568 | - | €9,579 | €8,579 | ▼ 10.4% |
| Tangible fixed assets22/27 | €966,463 | €2.1m | €2.0m | €2.8m | €2.8m | ▲ 2.5% |
| Land and buildings22 | €473,713 | €802,868 | €740,804 | €1.4m | €1.6m | ▲ 16.3% |
| Plant, machinery and equipment23 | €290,740 | €275,539 | €260,012 | €387,259 | €322,506 | ▼ 16.7% |
| Furniture and vehicles24 | €29,633 | €64,248 | €68,318 | €107,265 | €74,869 | ▼ 30.2% |
| Other tangible fixed assets26 | €172,376 | €978,903 | €969,602 | €915,708 | €861,813 | ▼ 5.9% |
| Financial fixed assets28 | €508 | €508 | €508 | €508 | €508 | = |
| Current assets29/58 | €397,105 | €645,645 | €728,325 | €805,271 | €852,922 | ▲ 5.9% |
| Stocks and contracts in progress3 | €87,928 | €187,476 | €281,024 | €274,525 | €276,685 | ▲ 0.8% |
| Stocks30/36 | €87,928 | €187,476 | €281,024 | €274,525 | €276,685 | ▲ 0.8% |
| Amounts receivable within one year40/41 | €115,522 | €220,027 | €55,042 | €114,088 | €170,926 | ▲ 49.8% |
| Trade receivables40 | €4,530 | €97,502 | €49,396 | €74,263 | €149,203 | ▲ 101% |
| Other amounts receivable41 | €110,992 | €122,525 | €5,647 | €39,825 | €21,723 | ▼ 45.5% |
| Cash at bank and in hand54/58 | €190,620 | €236,005 | €390,813 | €408,052 | €398,617 | ▼ 2.3% |
| Deferred charges and accrued income490/1 | €3,035 | €2,137 | €1,446 | €8,605 | €6,693 | ▼ 22.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.4m | €2.8m | €2.8m | €3.6m | €3.7m | ▲ 3.3% |
| Equity10/15 | €417,793 | €445,383 | €751,564 | €831,455 | €822,555 | ▼ 1.1% |
| Contributions10/11 | €30,000 | €30,000 | €30,000 | €30,000 | €30,000 | = |
| Reserves13 | €387,793 | €415,383 | €721,564 | €801,455 | €792,555 | ▼ 1.1% |
| Non-distributable reserves130/1 | €3,000 | €3,000 | - | - | - | - |
| Reserves not available under the articles1311 | €3,000 | €3,000 | - | - | - | - |
| Tax-exempt reserves132 | €1,463 | €1,463 | €1,463 | €1,463 | €1,463 | = |
| Distributable reserves133 | €383,330 | €410,919 | €720,101 | €799,992 | €791,092 | ▼ 1.1% |
| Amounts payable17/49 | €952,049 | €2.3m | €2.0m | €2.7m | €2.9m | ▲ 4.6% |
| Amounts payable after more than one year17 | €534,837 | €1.4m | €1.3m | €1.9m | €1.9m | ▲ 2.7% |
| Financial debts170/4 | €534,837 | €1.4m | €1.3m | €1.9m | €1.9m | ▲ 2.4% |
| Other amounts payable178/9 | - | - | - | - | €4,950 | - |
| Amounts payable within one year42/48 | €415,016 | €923,476 | €761,048 | €869,046 | €946,982 | ▲ 9.0% |
| Current portion of amounts payable after more than one year42 | €58,985 | €138,096 | €139,375 | €197,139 | €214,066 | ▲ 8.6% |
| Trade debts44 | €249,298 | €617,105 | €371,267 | €460,627 | €465,791 | ▲ 1.1% |
| Suppliers440/4 | €249,298 | €617,105 | €371,267 | €460,627 | €465,791 | ▲ 1.1% |
| Advances received on contracts in progress46 | - | - | - | - | €1,997 | - |
| Taxes, remuneration and social security45 | €101,447 | €93,722 | €147,833 | €185,155 | €233,843 | ▲ 26.3% |
| Taxes450/3 | €12,891 | €2,929 | €34,608 | €24,818 | €24,430 | ▼ 1.6% |
| Remuneration and social security454/9 | €88,555 | €90,793 | €113,225 | €160,337 | €209,413 | ▲ 30.6% |
| Other amounts payable47/48 | €5,287 | €74,552 | €102,574 | €26,125 | €31,286 | ▲ 19.8% |
| Accrued charges and deferred income492/3 | €2,196 | €5,089 | - | €4,736 | €1,739 | ▼ 63.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€8,141 | €27,590 | €306,182 | €79,890 | €70,992 | ▼ 11.1% |
| + Depreciation and write-downs630 | €146,738 | €215,309 | €231,747 | €250,209 | €308,935 | ▲ 23.5% |
| Operating cash flow (approximation) | €138,598 | €242,899 | €537,929 | €330,099 | €379,928 | ▲ 15.1% |
| Investment in fixed assets (approximation) | - | -€1.4m | -€148,358 | -€983,747 | -€377,808 | ▲ 61.6% |
| Change in cash | - | €45,385 | €154,808 | €17,239 | -€9,435 | ▼ 155% |
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 · abbreviated schema
2025
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 61 days late
2024
19-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Highest result since 2018net €306,182 ▲1,010%
Operating result €377,659, net result €306,182, both a record.
31-12
Financial
Equity above €500,000Eq €751,564 ▲68.7%
2 profitable years in a row build equity to €751,564.
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 28 days late
2022
31-12
Financial
Back to profitnet €27,590
Net result €27,590 after one loss-making year.
18-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 18 days late
2021
31-12
Financial
Weakest financial yearnet -€8,141
Net result drops to -€8,141, the lowest in the series; recovery starts the following year.
22-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
23-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
23-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
18-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Brugge · 2 establishment units since 2011
Ground area
641 m²
Building footprint
603 m²
Volume, LiDAR
3,045 m³
2 parcels, Flanders · tallest building 13.6 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
Slagerij Traiteur Maertens
since 20112.201.862.584
Slagerij Traiteur Maertens
since 20242.362.961.669
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31026C0823/00F000 | Flanders | 383 m² | 1 · 278 m² | 7.2 m · 2 fl. |
| 31808M0467/00X005 | Flanders | 258 m² | 1 · 325 m² | 13.6 m · 2 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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 7 entries · 28,777 EUR awarded · 3,884 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 3 | 176 EUR | 176 EUR |
| 2024 | 1 | 176 EUR | 176 EUR |
| 2023 | 2 | 27,114 EUR | 2,741 EUR |
| 2022 | 1 | 1,311 EUR | 791 EUR |
Recognitions · licences · registrations
Food safety, FASFC
2 sitesBrugge2.201.862.584
Damme2.362.961.669
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Of 3,043 companies in sector 47221 we hold annual accounts for 1,566. 891 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
Founded19-07-2011
Fiscal year end31-12
Activities, NACEBEL 2025
47221Retail sale of meat and meat products, excluding game and poultry
47222Retail trade
47230Retail trade
47241Retail sale of bread and pastry (bakery outlets)
47279Other retail sale of food
68321Property management for co-owned buildings (syndics)
E-invoicing
Reachable via Peppol
Peppol ID
0208:0837979040
Also
9925:BE0837979040
Registered
08-10-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.