MAI 68
ActiveSummary
MAI 68 has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €789,963 and a net result of €63,159. Equity is growing by ~9.7% per year across the filed fiscal years. Its solvency ranks better than 59% of 4231 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability73▲+2
Solvency70▲+7
Growth78=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €55,000 at 30 days acceptable
Liquidity ample (current ratio 2.85 against 2.25 in 2024; short-term debt: 14.1% and cash: 10.6% of total assets), but 55.5% 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 · 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
44.5%
Return on assets
3.6%
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 29-05-2026, 63 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
63 d early
2024
29 d late
2023
33 d late
2022
32 d late
2021
78 d late
2020
86 d late
2019
92 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 41 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 1 September (4 of the last 5 filed years within 46 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, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€63,159▲ 73.3%
2024 · €36,454
Working capital
€462,994▲ 9.4%
2024 · €423,310
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€68,890€38,963▼ 43.4%€73,945▲ 89.8%€60,321▼ 18.4%€92,292▲ 53.0%
Net result€54,216within the sector's middle half€138,385above the sector's middle half▲ 155%€54,349within the sector's middle half▼ 60.7%€36,454within the sector's middle half▼ 32.9%€63,159within the sector's middle half▲ 73.3%
Equity€497,616within the sector's middle half▲ 12.2%€636,001within the sector's middle half▲ 27.8%€690,350within the sector's middle half▲ 8.5%€726,804within the sector's middle half▲ 5.3%€789,963within the sector's middle half▲ 8.7%
Total assets€2.4mabove the sector's middle half▼ 9.2%€2.2mwithin the sector's middle half▼ 11.0%€2.1mwithin the sector's middle half▼ 3.7%€1.9mwithin the sector's middle half▼ 6.7%€1.8mwithin the sector's middle half▼ 8.3%
Debt€1.9m▼ 13.5%€1.5m▼ 21.0%€1.4m▼ 8.8%€1.2m▼ 12.7%€984,607▼ 18.5%
Working capital-€31,211below the sector's middle half▲ 91.3%€365,191within the sector's middle half€403,789within the sector's middle half▲ 10.6%€423,310within the sector's middle half▲ 4.8%€462,994within the sector's middle half▲ 9.4%
Solvency20.6%within the sector's middle half▲ 3.9pp29.5%within the sector's middle half▲ 9.0pp33.3%within the sector's middle half▲ 3.8pp37.6%within the sector's middle half▲ 4.3pp44.5%within the sector's middle half▲ 6.9pp
Current ratio0.95below the sector's middle half▲ 0.261.98within the sector's middle half▲ 1.032.07within the sector's middle half▲ 0.092.25within the sector's middle half▲ 0.182.85above the sector's middle half▲ 0.60
Return on assets (ROA)2.2%within the sector's middle half▲ 3.5pp6.4%within the sector's middle half▲ 4.2pp2.6%within the sector's middle half▼ 3.8pp1.9%within the sector's middle half▼ 0.7pp3.6%within the sector's middle half▲ 1.7pp
Staff (FTE)4.4within the sector's middle half▼ 8.3%5.3within the sector's middle half4.4within the sector's middle half▼ 17.0%4.5within the sector's middle half▲ 2.3%
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.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 53% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.8m
Fixed assets
€1.1m ▼ 9.5%
Current assets
€712,662 ▼ 6.4%
Equity and liabilities €1.8m
Equity
€789,963 ▲ 8.7%
Debt
€984,607 ▼ 18.5%
Debt's share of the balance-sheet total falls from 62.4% to 55.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€213,599▲
2024 · €182,246
Cash flow
€184,466▲
2024 · €158,379
Quick ratio
2.10▲
2024 · 1.66
Debt to equity
1.25▼
2024 · 1.66
ROE
8.0%▲
2024 · 5.0%
Interest coverage
7.66▲
2024 · 6.24
Debt ≤ 1 year
€249,668▼
2024 · €338,171
Debt > 1 year
€729,694▼
2024 · €868,724
Income taxes
€22,379▲
2024 · €12,231
Staff costs
€157,151▲
2024 · €153,988
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 17,039 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 94% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.5%
went bankrupt
4.9%
stopped otherwise
94%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.6% 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 17,039 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €141,011 | €141,721 | €155,374 | €153,988 | €157,151 | ▲ 2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €151,789 | €125,254 | €123,924 | €121,925 | €121,307 | ▼ 0.5% |
| Other operating charges640/8 | €21,549 | €16,993 | €12,107 | €13,287 | €16,823 | ▲ 26.6% |
| Gross operating margin9900 | €383,239 | €322,931 | €365,350 | €349,521 | €387,573 | ▲ 10.9% |
| Operating profit (loss)9901 | €68,890 | €38,963 | €73,945 | €60,321 | €92,292 | ▲ 53.0% |
| Financial income75/76B | €22,532 | €201,951 | €18,659 | €17,589 | €21,149 | ▲ 20.2% |
| Recurring financial income75 | €22,532 | €22,898 | €18,659 | €17,589 | €21,149 | ▲ 20.2% |
| Non-recurring financial income76B | - | €179,053 | - | - | - | - |
| Financial charges65/66B | €37,206 | €47,148 | €23,108 | €29,225 | €27,903 | ▼ 4.5% |
| Recurring financial charges65 | €37,206 | €47,148 | €23,108 | €29,225 | €27,903 | ▼ 4.5% |
| Profit (loss) for the period before taxes9903 | €54,216 | €193,766 | €69,496 | €48,685 | €85,538 | ▲ 75.7% |
| Income taxes67/77 | - | €55,381 | €15,147 | €12,231 | €22,379 | ▲ 83.0% |
| Profit (loss) for the period9904 | €54,216 | €138,385 | €54,349 | €36,454 | €63,159 | ▲ 73.3% |
| Profit (loss) for the period to be appropriated9905 | €54,216 | €138,385 | €54,349 | €36,454 | €63,159 | ▲ 73.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.4m | €2.2m | €2.1m | €1.9m | €1.8m | ▼ 8.3% |
| Fixed assets21/28 | €1.8m | €1.4m | €1.3m | €1.2m | €1.1m | ▼ 9.5% |
| Tangible fixed assets22/27 | €1.7m | €1.4m | €1.3m | €1.1m | €1.0m | ▼ 10.6% |
| Land and buildings22 | €1.7m | €1.4m | €1.3m | €1.1m | €1.0m | ▼ 10.3% |
| Plant, machinery and equipment23 | - | - | €521 | €315 | €108 | ▼ 65.7% |
| Furniture and vehicles24 | €12,043 | €11,045 | €7,343 | €4,422 | €954 | ▼ 78.4% |
| Financial fixed assets28 | €25,000 | €25,000 | €25,000 | €25,000 | €35,000 | ▲ 40.0% |
| Current assets29/58 | €659,737 | €737,519 | €780,434 | €761,481 | €712,662 | ▼ 6.4% |
| Stocks and contracts in progress3 | €166,903 | €205,364 | €209,421 | €199,266 | €188,660 | ▼ 5.3% |
| Stocks30/36 | €166,903 | €205,364 | €209,421 | €199,266 | €188,660 | ▼ 5.3% |
| Amounts receivable within one year40/41 | €24,464 | €29,356 | €18,504 | €48,540 | €18,320 | ▼ 62.3% |
| Trade receivables40 | €21,913 | €29,302 | €18,463 | €45,361 | €15,141 | ▼ 66.6% |
| Other amounts receivable41 | €2,551 | €54 | €41 | €3,179 | €3,179 | = |
| Current investments50/53 | €326,680 | €254,401 | €261,225 | €327,194 | €309,274 | ▼ 5.5% |
| Cash at bank and in hand54/58 | €136,817 | €213,526 | €285,110 | €179,585 | €188,699 | ▲ 5.1% |
| Deferred charges and accrued income490/1 | €4,873 | €34,872 | €6,174 | €6,896 | €7,709 | ▲ 11.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.4m | €2.2m | €2.1m | €1.9m | €1.8m | ▼ 8.3% |
| Equity10/15 | €497,616 | €636,001 | €690,350 | €726,804 | €789,963 | ▲ 8.7% |
| Contributions10/11 | €75,000 | €75,000 | €75,000 | €75,000 | €75,000 | = |
| Reserves13 | €7,500 | €7,500 | €7,500 | €7,500 | €7,500 | = |
| Non-distributable reserves130/1 | €7,500 | €7,500 | - | - | - | - |
| Reserves not available under the articles1311 | - | €7,500 | - | - | - | - |
| Own shares acquired1312 | €7,500 | - | - | - | - | - |
| Distributable reserves133 | - | - | €7,500 | €7,500 | €7,500 | = |
| Profit (loss) carried forward14 | €415,116 | €553,501 | €607,850 | €644,304 | €707,463 | ▲ 9.8% |
| Amounts payable17/49 | €1.9m | €1.5m | €1.4m | €1.2m | €984,607 | ▼ 18.5% |
| Amounts payable after more than one year17 | €1.2m | €1.1m | €1.0m | €868,724 | €729,694 | ▼ 16.0% |
| Financial debts170/4 | €981,563 | €888,351 | €742,323 | €594,853 | €445,911 | ▼ 25.0% |
| Other amounts payable178/9 | €249,303 | €255,603 | €263,528 | €273,871 | €283,783 | ▲ 3.6% |
| Amounts payable within one year42/48 | €690,948 | €372,328 | €376,645 | €338,171 | €249,668 | ▼ 26.2% |
| Current portion of amounts payable after more than one year42 | €193,547 | €144,580 | €146,019 | €147,470 | €148,942 | ▲ 1.0% |
| Financial debts43 | €350,000 | - | - | - | - | - |
| Credit institutions430/8 | €350,000 | - | - | - | - | - |
| Trade debts44 | €106,009 | €152,023 | €178,238 | €143,390 | €42,885 | ▼ 70.1% |
| Suppliers440/4 | €106,009 | €152,023 | €178,238 | €143,390 | €42,885 | ▼ 70.1% |
| Taxes, remuneration and social security45 | €41,019 | €75,328 | €52,008 | €46,931 | €57,446 | ▲ 22.4% |
| Taxes450/3 | €26,392 | €61,130 | €31,502 | €26,519 | €35,092 | ▲ 32.3% |
| Remuneration and social security454/9 | €14,627 | €14,198 | €20,506 | €20,412 | €22,354 | ▲ 9.5% |
| Other amounts payable47/48 | €373 | €397 | €380 | €380 | €395 | ▲ 3.9% |
| Accrued charges and deferred income492/3 | €2 | €1,000 | €997 | €997 | €5,245 | ▲ 426% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €54,216 | €138,385 | €54,349 | €36,454 | €63,159 | ▲ 73.3% |
| + Depreciation and write-downs630 | €151,789 | €125,254 | €123,924 | €121,925 | €121,307 | ▼ 0.5% |
| Operating cash flow (approximation) | €206,005 | €263,639 | €178,273 | €158,379 | €184,466 | ▲ 16.5% |
| Investment in fixed assets (approximation) | - | €218,677 | -€1,569 | -€1,731 | -€10,000 | ▼ 478% |
| Change in cash | - | €76,709 | €71,584 | -€105,525 | €9,114 | ▲ 109% |
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
15-06
State Gazette act
Resignations: Fabienne GRUTMAN (director) and HG HOLDING (director)Permanent representatives: Philippe HALLEUX and Julien ROTH · Appointment: ROTHMES MANAGEMENT (sole director) · Director discharge9 facts ▸
State Gazette act
Resignations: Fabienne GRUTMAN (director) and HG HOLDING (director)
Permanent representatives: Philippe HALLEUX and Julien ROTH · Appointment: ROTHMES MANAGEMENT (sole director) · Director discharge9 facts ▸
- General meeting, 02-06-2026
- Director resignation, Fabienne GRUTMAN (director)
- Director resignation, HG HOLDING (director)
- Director discharge, Fabienne GRUTMAN
- Director discharge, HG HOLDING
- Permanent representative, Philippe HALLEUX (permanent representative)
- Director appointment, ROTHMES MANAGEMENT (sole director)
- Permanent representative, Julien ROTH (permanent representative)
- Registered-office move, 4460 GRACE-HOLLOGNE,Rue de Loncin 234
29-05
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 29 days late
2024
02-09
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 33 days late
2023
01-09
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 32 days late
2022
31-12
Financial
Highest result since 2018net €138,385 ▲155%
Net result €138,385, the highest in the series.
31-12
Financial
Liquidity doublescurrent ratio 1.98
Current ratio from 0.95 to 1.98; short-term debt falls from €690,948 to €372,328.
31-12
Financial
Equity above €500,000Eq €636,001 ▲27.8%
2 profitable years in a row build equity to €636,001.
17-10
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 78 days late
2021
31-12
Financial
Back to profitnet €54,216
Net result €54,216 after one loss-making year.
25-10
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 86 days late
2020
31-12
Financial
Weakest financial yearnet -€33,522
Net result drops to -€33,522, the lowest in the series; recovery starts the following year.
Show earlier events
31-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 92 days late
2019
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 28 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 31 days late
2017
22-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 22 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 3 acts read
About the unread acts
Of the 3 Belgian State Gazette acts we know for this company, 1 has been read. The other 2 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, last change in 2026
Board 1
ROTHMES MANAGEMENT
CurrentSole director · since 02-06-2026 · Private limited company · perm. rep.: Julien ROTH
Permanent representatives 1
Julien ROTH
CurrentPermanent representative · since 02-06-2026 · for ROTHMES MANAGEMENT
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
2 of this company's 3 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Grâce-Hollogne · 1 establishment unit since 2005
Ground area
3,345 m²
Building footprint
135 m²
Volume, LiDAR
810 m³
2 parcels, Wallonia · tallest building 8.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
POINT CARRE
since 20052.148.787.946
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 64040B0364/00D000 | Wallonia | 2,322 m² | - | - |
| 62046A0136/00H000 | Wallonia | 1,023 m² | 1 · 135 m² | 8.2 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.
Mandate history
3 people since 2026, 1 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| ROTHMES MANAGEMENT |
|
| Fabienne GRUTMAN |
|
| HG HOLDING |
|
Structure & network
Owners and holdings
1 ownerChain of control
- HG HOLDING
- MAI 68
Highest known parent: HG HOLDING. The sources do not say who stands above it.
Owners 1
- HG HOLDINGparentSourceaccounts HG HOLDING 202599%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
1 current directorThe group is listed under Ownership & control below; here you explore it as a network.
This company
Company
Director
Shareholding
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Recognitions · licences · registrations
Legal Entity Identifier
967600VZDQQABHXX3U13
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Of 6,495 companies in sector 47716 we hold annual accounts for 2,440. 1,253 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 (pre-2019)
Founded07-07-2005
Fiscal year end31-12
Activities, NACEBEL 2025
47716Retail sale of clothing and accessories for women, men, children and babies (general range)
Contact
E-mail
info@pointcarrewaremme.beWaremme
E-invoicing
Reachable via Peppol
Peppol ID
0208:0874938515
Also
9925:BE0874938515
Registered
11-06-2026
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.