MAK RETAIL
ActiveSummary
MAK RETAIL has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €432k and a net result of €258k. Equity is growing by ~18.1% per year across the filed fiscal years. Its solvency ranks better than 54% of 10359 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
74
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability83▼-1
Solvency66▼-5
Growth78=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €30k at 30 days acceptable
Liquidity ample (current ratio 2.46 against 3.94 in 2024; short-term debt: 37.7% and cash: 27.3% of total assets), but 59% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Three 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
Sector 47
higher
← 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
41%
Return on assets
24.5%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
28 d late
2024
61 d late
2023
30 d late
2022
60 d late
2021
61 d late
2020
17 d late
2019
1 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
€4.52M
EBIT margin
6.5%
Net result
€258k▲ 126%
2024 · €114k
2018: €31k
2019: €23k
2020: €57k
2021: €55k
2022: €10k
2023: €157k
2024: €114k
2018 → 2025
Working capital
€582k▼ 8.2%
2024 · €634k
2018: €387k
2019: €288k
2020: €340k
2021: €387k
2022: €447k
2023: €629k
2024: €634k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€4.52M
Equity€251k-€261k▲ 3.9%€418k▲ 60.3%€432k▲ 3.4%€432k=
Operating result€93k-€29k▼ 68.2%€236k▲ 701%€147k▼ 37.6%€296k▲ 101%
Net result€55k-€10k▼ 82.1%€157k▲ 1,505%€114k▼ 27.3%€258k▲ 126%
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 101% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.05M
Fixed assets
€75k ▼ 11.8%
Current assets
€980k ▲ 15.3%
Equity and liabilities €1.05M
Equity
€432k =
Debt
€622k ▲ 23.9%
Debt's share of the balance-sheet total rises from 53.7% to 59.0%. Debt is higher.
Key figures and ratios
EBITDA
€343k▲
2024 · €196k
Cash flow
€306k▲
2024 · €163k
Current ratio
2.46▼
2024 · 3.94
Quick ratio
1.84▼
2024 · 2.82
Debt to equity
1.44▲
2024 · 1.16
ROE
59.8%▲
2024 · 26.4%
ROA
24.5%▲
2024 · 12.2%
Interest coverage
16.85▲
2024 · 6.85
Debt ≤ 1 year
€398k▲
2024 · €216k
Debt > 1 year
€224k▼
2024 · €286k
Income taxes
€20k▲
2024 · €6k
Staff costs
€199k▼
2024 · €317k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 58 lines
Balance sheet
Code20242025
Assets
Total assets20/58€934k€1.05M▲
Fixed assets21/28€85k€75k▼
Intangible fixed assets21€28k€0▼
Tangible fixed assets22/27€57k€74k▲
Plant, machinery and equipment23€47k€59k▲
Furniture and vehicles24€254€2k▲
Other tangible fixed assets26€9k€13k▲
Financial fixed assets28€237€327▲
Current assets29/58€850k€980k▲
Stocks and contracts in progress3€242k€246k▲
Stocks30/36€242k€246k▲
Amounts receivable within one year40/41€52k€180k▲
Trade receivables40€27k€48k▲
Other amounts receivable41€25k€132k▲
Current investments50/53€351k€265k▼
Cash at bank and in hand54/58€203k€287k▲
Deferred charges and accrued income490/1€769€729▼
Equity and liabilities
Total equity and liabilities10/49€934k€1.05M▲
Equity10/15€432k€432k=
Contributions10/11€100k€100k=
Reserves13€332k€332k=
Distributable reserves133€332k€332k=
Profit (loss) carried forward14-€0
Amounts payable17/49€502k€622k▲
Amounts payable after more than one year17€286k€224k▼
Financial debts170/4€7k€2k▼
Trade debts175€280k€223k▼
Amounts payable within one year42/48€216k€398k▲
Current portion of amounts payable after more than one year42€5k€5k▲
Trade debts44€54k€67k▲
Suppliers440/4€54k€67k▲
Advances received on contracts in progress46€2k€0▼
Taxes, remuneration and social security45€50k€62k▲
Taxes450/3€6k€25k▲
Remuneration and social security454/9€44k€37k▼
Other amounts payable47/48€105k€263k▲
Income statement
Code20242025
Turnover70-€4.52M
Goods, raw materials, services and sundry goods60/61-€4.02M
Remuneration, social security and pensions62€317k€199k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€49k€48k▼
Other operating charges640/8€2k€2k▼
Gross operating margin9900€516k€545k▲
Operating profit (loss)9901€147k€296k▲
Financial income75/76B€2k€3k▲
Recurring financial income75€2k€3k▲
Financial charges65/66B€29k€20k▼
Recurring financial charges65€29k€20k▼
Profit (loss) for the period before taxes9903€121k€278k▲
Income taxes67/77€6k€20k▲
Profit (loss) for the period9904€114k€258k▲
Profit (loss) for the period to be appropriated9905€114k€258k▲
Appropriation of the result
Profit (loss) to be appropriated9906€114k€258k▲
Transfer to equity691/2€14k€0▼
To other reserves6921€14k€0▼
Profit to be distributed694/7€100k€258k▲
Return on contributions (dividend)694-€58k
Directors or managers695€100k€200k▲
Social balance
Average headcount (FTE)90875.64.0▼
The notes to these accounts (18 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
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 28 days late
2025
31-12
Financial
Highest result since 2018net €258k ▲126%
Operating result €296k, net result €258k, both a record.
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 61 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 30 days late
2023
29-09
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 60 days late
2022
31-12
Financial
Weakest financial yearnet €10k ▼82.1%
Net result drops to €10k, the lowest in the series; recovery starts the following year.
30-09
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 61 days late
2021
31-12
Financial
Equity above €200kEq €251k ▲27.9%
4 profitable years in a row build equity to €251k.
17-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 17 days late
2020
31-12
Financial
Equity above €150kEq €196k ▲40.6%
3 profitable years in a row build equity to €196k.
30-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
18-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
03-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 3 days late
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.
Directors · office · real estate
Directors
5 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, Gent · 1 establishment unit since 2015
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.
Ottergemsesteenweg 29000 GentGround area
636 m²
Building footprint
582 m²
Volume, LiDAR
6,079 m³
Parcel 44808H0259/00L002, Flanders · tallest building 13.2 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
Proxy Delhaize
since 20152.248.539.083
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44808H0259/00L002 | Flanders | 636 m² | 1 · 582 m² | 13.2 m · 4 fl. |
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 2024 · 3 entries · 1,375 EUR awarded · 1,375 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 1,000 EUR | 1,000 EUR |
| 2023 | 1 | 0 EUR | 375 EUR |
| 2022 | 1 | 375 EUR | 0 EUR |
Schemes
Premie kwalificerend werkplekleren
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Food safety, FASFC
1 siteGent2.248.539.083
Dual-learning approval
3 live approvals · 3 endedOnthaal, organisatie en sales duaal (so)
Winkelmedewerker (vwo)
Winkelmedewerker duaal (so)
Show 3 ended approvals
Winkelbediende (so)
Aanvuller (so)
Kassier (so)
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Of 10,519 companies in sector 47110 we hold annual accounts for 5,857. 3,342 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded04-12-2015
Fiscal year end31-12
Activities, NACEBEL 2025
47110Non-specialised retail sale with food, beverages or tobacco predominating
Sources
Crossroads Bank for EnterprisesNational Bank · 10 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.