MAK
ActiveSummary
MAK has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €81,171 and a net result of €6,770. Equity is growing by ~9.6% per year across the filed fiscal years. Its solvency ranks better than 84% of 36380 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability50▲+9
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €5,000 at 30 days acceptable
Liquidity ample (current ratio 4.04 against 3.68 in 2023; short-term debt: 22.1% and cash: 2.9% of total assets), and 22.1% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
+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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 24-06-2025, 37 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
not confirmed
2024
37 d early
2023
29 d early
2022
32 d early
2021
37 d early
2020
36 d early
2019
31 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 34 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€81,171▲ 9.1%
2023 · €74,401
Total assets
€104,205▲ 9.3%
2023 · €95,318
Net result
€6,770▲ 116%
2023 · €3,127
Working capital
€70,128▲ 25.2%
2023 · €56,034
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€44,786▲ 42.8%€26,875▼ 40.0%€13,960▼ 48.1%€7,298▼ 47.7%€12,322▲ 68.8%
Net result€34,360▲ 72.8%€14,946▼ 56.5%€2,086▼ 86.0%€3,127▲ 49.9%€6,770▲ 116%
Equity€54,242▲ 173%€69,188▲ 27.6%€71,274▲ 3.0%€74,401▲ 4.4%€81,171▲ 9.1%
Total assets€120,885▲ 106%€78,610▼ 35.0%€89,981▲ 14.5%€95,318▲ 5.9%€104,205▲ 9.3%
Debt€66,643▲ 72.0%€9,421▼ 85.9%€18,707▲ 98.6%€20,916▲ 11.8%€23,034▲ 10.1%
Working capital€46,194▲ 670%€61,178▲ 32.4%€43,481▼ 28.9%€56,034▲ 28.9%€70,128▲ 25.2%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 69% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €104,205
Fixed assets
€11,043 ▼ 39.9%
Current assets
€93,162 ▲ 21.1%
Equity and liabilities €104,205
Equity
€81,171 ▲ 9.1%
Debt
€23,034 ▲ 10.1%
Debt's share of the balance-sheet total rises from 21.9% to 22.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€19,646▲
2023 · €16,724
Cash flow
€14,094▲
2023 · €12,553
Current ratio
4.04▲
2023 · 3.68
Debt to equity
0.28▲
2023 · 0.28
ROE
8.3%▲
2023 · 4.2%
ROA
6.5%▲
2023 · 3.3%
Interest coverage
2.76▲
2023 · 2.17
Debt ≤ 1 year
€23,034▲
2023 · €20,916
Income taxes
€2,289▼
2023 · €3,698
Staff costs
€3,546▼
2023 · €4,120
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,964 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.5%
went bankrupt
3.4%
stopped otherwise
95%
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 1.2% 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 497,058 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% | 1.6% |
| 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 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 26,964 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €15,486 | €5,086 | €4,120 | €3,546 | ▼ 13.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,833 | €5,018 | €8,798 | €9,426 | €7,324 | ▼ 22.3% |
| Other operating charges640/8 | - | €1,313 | €2,402 | €2,989 | €1,801 | ▼ 39.7% |
| Gross operating margin9900 | €74,375 | €48,692 | €30,246 | €23,833 | €24,994 | ▲ 4.9% |
| Operating profit (loss)9901 | €44,786 | €26,875 | €13,960 | €7,298 | €12,322 | ▲ 68.8% |
| Financial income75/76B | - | - | €380 | €7,236 | €3,864 | ▼ 46.6% |
| Recurring financial income75 | €132 | - | €380 | €7,236 | €3,864 | ▼ 46.6% |
| Financial charges65/66B | - | €6,618 | €9,652 | €7,709 | €7,127 | ▼ 7.5% |
| Recurring financial charges65 | €5,153 | €6,618 | €9,652 | €7,709 | €7,127 | ▼ 7.5% |
| Profit (loss) for the period before taxes9903 | €39,765 | €20,258 | €4,689 | €6,826 | €9,059 | ▲ 32.7% |
| Income taxes67/77 | €5,406 | €5,312 | €2,603 | €3,698 | €2,289 | ▼ 38.1% |
| Profit (loss) for the period9904 | €34,360 | €14,946 | €2,086 | €3,127 | €6,770 | ▲ 116% |
| Profit (loss) for the period to be appropriated9905 | €34,360 | €14,946 | €2,086 | €3,127 | €6,770 | ▲ 116% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €120,885 | €78,610 | €89,981 | €95,318 | €104,205 | ▲ 9.3% |
| Fixed assets21/28 | €8,049 | €8,010 | €27,793 | €18,367 | €11,043 | ▼ 39.9% |
| Tangible fixed assets22/27 | €8,049 | €8,010 | €27,793 | €18,367 | €11,043 | ▼ 39.9% |
| Furniture and vehicles24 | - | €8,010 | €27,793 | €18,367 | €11,043 | ▼ 39.9% |
| Current assets29/58 | €112,837 | €70,599 | €62,188 | €76,950 | €93,162 | ▲ 21.1% |
| Stocks and contracts in progress3 | - | - | €3,899 | - | - | - |
| Stocks30/36 | - | - | €3,899 | - | - | - |
| Amounts receivable within one year40/41 | €63,145 | €64,379 | €43,817 | €61,046 | €90,162 | ▲ 47.7% |
| Trade receivables40 | - | €50,086 | €34,951 | €44,448 | €73,617 | ▲ 65.6% |
| Other amounts receivable41 | - | €14,293 | €8,867 | €16,599 | €16,545 | ▼ 0.3% |
| Cash at bank and in hand54/58 | €49,692 | €6,220 | €14,471 | €15,904 | €3,000 | ▼ 81.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €120,885 | €78,610 | €89,981 | €95,318 | €104,205 | ▲ 9.3% |
| Equity10/15 | €54,242 | €69,188 | €71,274 | €74,401 | €81,171 | ▲ 9.1% |
| Contributions10/11 | - | €18,601 | €18,601 | €18,601 | €18,601 | = |
| Profit (loss) carried forward14 | €35,641 | €50,587 | €52,673 | €55,800 | €62,570 | ▲ 12.1% |
| Amounts payable17/49 | €66,643 | €9,421 | €18,707 | €20,916 | €23,034 | ▲ 10.1% |
| Amounts payable within one year42/48 | €66,643 | €9,421 | €18,707 | €20,916 | €23,034 | ▲ 10.1% |
| Financial debts43 | - | - | - | - | €20,806 | - |
| Credit institutions430/8 | - | - | - | - | €20,806 | - |
| Trade debts44 | €51,208 | €165 | €4,324 | €1,219 | - | - |
| Suppliers440/4 | - | €165 | €4,324 | €1,219 | - | - |
| Taxes, remuneration and social security45 | - | €9,256 | €14,382 | €19,698 | €2,227 | ▼ 88.7% |
| Taxes450/3 | - | €4,543 | €11,370 | €18,897 | €2,227 | ▼ 88.2% |
| Remuneration and social security454/9 | - | €4,713 | €3,012 | €801 | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €34,360 | €14,946 | €2,086 | €3,127 | €6,770 | ▲ 116% |
| + Depreciation and write-downs630 | €5,833 | €5,018 | €8,798 | €9,426 | €7,324 | ▼ 22.3% |
| Operating cash flow (approximation) | €40,192 | €19,964 | €10,883 | €12,553 | €14,094 | ▲ 12.3% |
| Investment in fixed assets (approximation) | - | -€4,980 | -€28,581 | €0 | €0 | - |
| Change in cash | - | -€43,472 | €8,251 | €1,433 | -€12,904 | ▼ 1,001% |
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
2025
24-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
02-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet €2,086 ▼86%
Net result drops to €2,086, the lowest in the series; recovery starts the following year.
24-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Liquidity quadruplescurrent ratio 7.49
Current ratio from 1.69 to 7.49; short-term debt falls from €66,643 to €9,421.
25-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Highest result since 2019net €34,360 ▲72.8%
Operating result €44,786, net result €34,360, both a record.
30-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Beringen · 1 establishment unit since 2018
Ground area
3,480 m²
Building footprint
385 m²
Volume, LiDAR
2,260 m³
2 parcels, Flanders · tallest building 10.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MAK
since 20182.281.370.318
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71025A0073/00F116 | Flanders | 2,319 m² | 1 · 233 m² | 8.0 m · 2 fl. |
| 71004A0575/11Z002 | Flanders | 1,161 m² | 1 · 152 m² | 10.3 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.
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Of 3,960 companies in sector 43331 we hold annual accounts for 1,788. 1,564 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
Founded29-08-2018
Fiscal year end31-12
Activities, NACEBEL 2025
43331Floor and wall tiling
43230Insulation installation
E-invoicing
Reachable via Peppol
Peppol ID
0208:0701879231
Also
9925:BE0701879231
Registered
12-12-2024
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.