MAK-SYSTEM
ActiveSummary
MAK-SYSTEM has been active since 2013 and the Belgian State Gazette contains no insolvency signals. The CBE does carry 1 administrative register entry (see administrative flags). The 2025 annual accounts show equity of €5.20M and a net result of €381k. Equity is growing by ~6% per year across the filed fiscal years. Its solvency ranks better than 79% of 1424 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability50▼-11
Solvency93▼-6
Growth83▼-2
Track record92
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €350k at 30 days acceptable
Liquidity ample (current ratio 4.36 against 9.3 in 2024; short-term debt: 21.5% and cash: 6.2% of total assets), and 32% of the assets are financed with debt.
Credit check 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 62
Relative position
BE, all sectors
reference
Computer programming, consultancy and related activities (NACE 62)
about 64% fewer 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
68%
Return on assets
5%
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 31-07-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
13 d early
2023
5 d late
2022
26 d early
2021
3 d early
2020
151 d late
2019
31 d late
← before the deadline
after the deadline →
raises risk · Administrative warnings in the KBO publications
1 publication by the FPS Economy about this company, such as a strike-off for address, accounts or UBO, or its withdrawal.
KBO publicationsPublications
Address struck
Checked, nothing found (1)
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€13.25M▲ 1.1%
2024 · €13.11M
2023: €9.43Mlowest in 3 years
2024: €13.11M▲ +39.0% vs 2023
2025: €13.25M▲ +1.1% vs 2024highest in 3 years
2023 → 2025
EBIT margin
5.6%▲ 2.4pp
2024 · 3.2%
2023: 4.5%
2024: 3.2%▼ -28.5% vs 2023lowest in 3 years
2025: 5.6%▲ +74.5% vs 2024highest in 3 years
2023 → 2025
Net result
€381k▲ 9.4%
2024 · €348k
2018: €145k
2019: €217k▲ +50.1% vs 2018
2020: €-763k▼ -451% vs 2019lowest in 8 years
2021: €466k▲ +161% vs 2020highest in 8 years
2022: €371k▼ -20.4% vs 2021
2023: €228k▼ -38.6% vs 2022
2024: €348k▲ +52.6% vs 2023
2025: €381k▲ +9.4% vs 2024
2018 → 2025
Working capital
€5.54M▲ 1.1%
2024 · €5.47M
2018: €3.46Mlowest in 8 years
2019: €3.77M▲ +8.9% vs 2018
2020: €5.39M▲ +43.0% vs 2019
2021: €4.18M▼ -22.5% vs 2020
2022: €4.24M▲ +1.6% vs 2021
2023: €4.87M▲ +14.6% vs 2022
2024: €5.47M▲ +12.5% vs 2023
2025: €5.54M▲ +1.1% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€9.43M€13.11M▲ 39.0%€13.25M▲ 1.1%
2023: €9.43Mlowest in 3 years
2024: €13.11M▲ +39.0% vs 2023
2025: €13.25M▲ +1.1% vs 2024highest in 3 years
Equity€3.87M-€4.24M▲ 9.6%€4.47M▲ 5.4%€4.82M▲ 7.8%€5.20M▲ 7.9%
2021: €3.87Mlowest in 5 years
2022: €4.24M▲ +9.6% vs 2021
2023: €4.47M▲ +5.4% vs 2022
2024: €4.82M▲ +7.8% vs 2023
2025: €5.20M▲ +7.9% vs 2024highest in 5 years
Operating result€404k-€557k▲ 37.9%€421k▼ 24.3%€419k▼ 0.6%€739k▲ 76.5%
2021: €404klowest in 5 years
2022: €557k▲ +37.9% vs 2021
2023: €421k▼ -24.3% vs 2022
2024: €419k▼ -0.6% vs 2023
2025: €739k▲ +76.5% vs 2024highest in 5 years
Net result€466k-€371k▼ 20.4%€228k▼ 38.6%€348k▲ 52.6%€381k▲ 9.4%
2021: €466khighest in 5 years
2022: €371k▼ -20.4% vs 2021
2023: €228k▼ -38.6% vs 2022lowest in 5 years
2024: €348k▲ +52.6% vs 2023
2025: €381k▲ +9.4% vs 2024
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 76% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €7.65M
Fixed assets
€463k ▲ 24.9%
Current assets
€7.18M ▲ 17.1%
Equity and liabilities €7.65M
Equity
€5.20M ▲ 7.9%
Debt
€2.45M ▲ 45.1%
Debt's share of the balance-sheet total rises from 25.9% to 32.0%. Equity and debt are higher.
Key figures and ratios
Current ratio
4.36▼
2024 · 9.30
Debt to equity
0.47▲
2024 · 0.35
ROE
7.3%▲
2024 · 7.2%
ROA
5.0%▼
2024 · 5.3%
Debt ≤ 1 year
€1.65M▲
2024 · €660k
Income taxes
€120k▼
2024 · €124k
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 · 55 lines
Balance sheet
Code20242025
Assets
Total assets20/58€6.51M€7.65M▲
Fixed assets21/28€371k€463k▲
Financial fixed assets28€371k€463k▲
Affiliated companies280/1€32k€32k=
Participating interests280€32k€32k=
Other financial fixed assets284/8€339k€431k▲
Amounts receivable and cash guarantees285/8€339k€431k▲
Current assets29/58€6.13M€7.18M▲
Amounts receivable within one year40/41€3.02M€4.08M▲
Trade receivables40€1.40M€1.56M▲
Other amounts receivable41€1.62M€2.52M▲
Cash at bank and in hand54/58€1.42M€472k▼
Deferred charges and accrued income490/1€1.70M€2.63M▲
Equity and liabilities
Total equity and liabilities10/49€6.51M€7.65M▲
Equity10/15€4.82M€5.20M▲
Contributions10/11€3.07M€3.07M=
Capital10€3.07M€3.07M=
Issued capital100€3.07M€3.07M=
Reserves13€307k€307k=
Non-distributable reserves130/1€307k€307k=
Legal reserve130€307k€307k=
Profit (loss) carried forward14€1.44M€1.82M▲
Amounts payable17/49€1.69M€2.45M▲
Amounts payable within one year42/48€660k€1.65M▲
Trade debts44€241k€318k▲
Suppliers440/4€241k€318k▲
Advances received on contracts in progress46€81k-
Taxes, remuneration and social security45€253k€280k▲
Taxes450/3€253k€280k▲
Other amounts payable47/48€85k€1.05M▲
Accrued charges and deferred income492/3€1.03M€802k▼
Income statement
Code20242025
Operating income70/76A€13.11M€13.33M▲
Turnover70€13.11M€13.25M▲
Non-recurring operating income76A-€77k
Operating charges60/66A€12.69M€12.59M▼
Goods for resale, raw materials and consumables60€1.89M€1.73M▼
Purchases600/8€1.89M€1.73M▼
Services and other goods61€10.36M€10.82M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€396-
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-51k€-328▲
Other operating charges640/8€491k€34k▼
Operating profit (loss)9901€419k€739k▲
Financial income75/76B€82k€3k▼
Recurring financial income75€82k€3k▼
Other financial income752/9€82k€3k▼
Financial charges65/66B€30k€241k▲
Recurring financial charges65€30k€241k▲
Other financial charges652/9€30k€241k▲
Profit (loss) for the period before taxes9903€471k€501k▲
Income taxes67/77€124k€120k▼
Taxes670/3€124k€120k▼
Profit (loss) for the period9904€348k€381k▲
Profit (loss) for the period to be appropriated9905€348k€381k▲
Appropriation of the result
Profit (loss) to be appropriated9906€1.44M€1.82M▲
Profit (loss) brought forward from the previous period14P€1.09M€1.44M▲
The notes to these accounts (24 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | €9.43M | €13.11M | €13.33M | ▲ 1.7% |
| Turnover70 | - | - | €9.43M | €13.11M | €13.25M | ▲ 1.1% |
| Other operating income74 | - | - | €221 | - | - | - |
| Non-recurring operating income76A | €25k | - | - | - | €77k | - |
| Operating charges60/66A | - | - | €9.01M | €12.69M | €12.59M | ▼ 0.8% |
| Goods for resale, raw materials and consumables60 | - | - | €1.62M | €1.89M | €1.73M | ▼ 8.2% |
| Purchases600/8 | - | - | €1.62M | €1.89M | €1.73M | ▼ 8.2% |
| Services and other goods61 | - | - | €7.24M | €10.36M | €10.82M | ▲ 4.5% |
| Remuneration, social security and pensions62 | €104k | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €307 | €307 | €307 | €396 | - | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €-33k | €5k | €103k | €-51k | €-328 | ▲ 99.4% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | €-70k | - | - | - | - | - |
| Other operating charges640/8 | €9k | €237 | €46k | €491k | €34k | ▼ 93.1% |
| Gross operating margin9900 | €413k | €562k | - | - | - | - |
| Operating profit (loss)9901 | €404k | €557k | €421k | €419k | €739k | ▲ 76.5% |
| Financial income75/76B | €138k | €14k | €21k | €82k | €3k | ▼ 96.6% |
| Recurring financial income75 | €138k | €14k | €21k | €82k | €3k | ▼ 96.6% |
| Other financial income752/9 | - | - | €21k | €82k | €3k | ▼ 96.6% |
| Financial charges65/66B | €60k | €65k | €111k | €30k | €241k | ▲ 703% |
| Recurring financial charges65 | €60k | €65k | €18k | €30k | €241k | ▲ 703% |
| Other financial charges652/9 | - | - | €18k | €30k | €241k | ▲ 703% |
| Non-recurring financial charges66B | - | - | €93k | - | - | - |
| Profit (loss) for the period before taxes9903 | €481k | €506k | €331k | €471k | €501k | ▲ 6.3% |
| Income taxes67/77 | €15k | €135k | €104k | €124k | €120k | ▼ 2.6% |
| Taxes670/3 | - | - | €104k | €124k | €120k | ▼ 2.6% |
| Profit (loss) for the period9904 | €466k | €371k | €228k | €348k | €381k | ▲ 9.4% |
| Profit (loss) for the period to be appropriated9905 | €466k | €371k | €228k | €348k | €381k | ▲ 9.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €15.95M | €6.58M | €6.88M | €6.51M | €7.65M | ▲ 17.6% |
| Fixed assets21/28 | €355k | €350k | €339k | €371k | €463k | ▲ 24.9% |
| Tangible fixed assets22/27 | €1k | €703 | €396 | - | - | - |
| Furniture and vehicles24 | €1k | €703 | €396 | - | - | - |
| Financial fixed assets28 | €354k | €349k | €338k | €371k | €463k | ▲ 24.9% |
| Affiliated companies280/1 | - | - | €32k | €32k | €32k | = |
| Participating interests280 | - | - | €32k | €32k | €32k | = |
| Other financial fixed assets284/8 | - | - | €306k | €339k | €431k | ▲ 27.3% |
| Amounts receivable and cash guarantees285/8 | - | - | €306k | €339k | €431k | ▲ 27.3% |
| Current assets29/58 | €15.60M | €6.23M | €6.54M | €6.13M | €7.18M | ▲ 17.1% |
| Amounts receivable within one year40/41 | €14.87M | €3.79M | €4.76M | €3.02M | €4.08M | ▲ 35.4% |
| Trade receivables40 | €4.91M | €3.74M | €2.76M | €1.40M | €1.56M | ▲ 11.7% |
| Other amounts receivable41 | €9.96M | €52k | €2.00M | €1.62M | €2.52M | ▲ 55.9% |
| Cash at bank and in hand54/58 | €498k | €712k | €871k | €1.42M | €472k | ▼ 66.8% |
| Deferred charges and accrued income490/1 | €231k | €1.73M | €904k | €1.70M | €2.63M | ▲ 55.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €15.95M | €6.58M | €6.88M | €6.51M | €7.65M | ▲ 17.6% |
| Equity10/15 | €3.87M | €4.24M | €4.47M | €4.82M | €5.20M | ▲ 7.9% |
| Contributions10/11 | €3.07M | €3.07M | €3.07M | €3.07M | €3.07M | = |
| Capital10 | €3.07M | €3.07M | €3.07M | €3.07M | €3.07M | = |
| Issued capital100 | €3.07M | €3.07M | €3.07M | €3.07M | €3.07M | = |
| Reserves13 | €307k | €307k | €307k | €307k | €307k | = |
| Non-distributable reserves130/1 | €307k | €307k | €307k | €307k | €307k | = |
| Legal reserve130 | €307k | €307k | €307k | €307k | €307k | = |
| Profit (loss) carried forward14 | €496k | €867k | €1.09M | €1.44M | €1.82M | ▲ 26.4% |
| Amounts payable17/49 | €12.08M | €2.34M | €2.41M | €1.69M | €2.45M | ▲ 45.1% |
| Amounts payable within one year42/48 | €11.42M | €1.99M | €1.67M | €660k | €1.65M | ▲ 150% |
| Trade debts44 | €11.30M | €224k | €227k | €241k | €318k | ▲ 32.1% |
| Suppliers440/4 | €11.30M | €224k | €227k | €241k | €318k | ▲ 32.1% |
| Advances received on contracts in progress46 | €74k | €78k | €76k | €81k | - | - |
| Taxes, remuneration and social security45 | €26k | €165k | €236k | €253k | €280k | ▲ 10.7% |
| Taxes450/3 | €26k | €165k | €236k | €253k | €280k | ▲ 10.7% |
| Other amounts payable47/48 | €17k | €1.52M | €1.13M | €85k | €1.05M | ▲ 1,136% |
| Accrued charges and deferred income492/3 | €661k | €352k | €735k | €1.03M | €802k | ▼ 22.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €466k | €371k | €228k | €348k | €381k | ▲ 9.4% |
| + Depreciation and write-downs630 | €307 | €307 | €307 | €396 | - | - |
| Operating cash flow (approximation) | €467k | €371k | €228k | €348k | €381k | ▲ 9.3% |
| Investment in fixed assets (approximation) | - | €5k | €11k | €-33k | €-92k | ▼ 182% |
| Change in cash | - | €213k | €159k | €551k | €-950k | ▼ 272% |
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
31-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
23-02
KBO administration
Address struck
de Meeûssquare 35 L’adresse du siège Square de Meeûs 35 1000 Die Sitzadresse Square de Meeûs / de
1000 Brussel werd doorgehaald met ingang Bruxelles · event 09-02-2026
2025
31-12
Financial
Equity above €5MEq €5.20M ▲7.9%
5 profitable years in a row build equity to €5.20M.
18-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Liquidity doublescurrent ratio 9.30
Current ratio from 3.91 to 9.30; short-term debt falls from €1.67M to €660k.
05-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 5 days late
2023
05-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Liquidity doublescurrent ratio 3.13
Current ratio from 1.37 to 3.13; short-term debt falls from €11.42M to €1.99M.
28-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Back to profitnet €466k
Net result €466k after one loss-making year.
29-12
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 151 days late
2020
31-12
Financial
Weakest financial yearnet €-763k
Net result drops to €-763k, the lowest in the series; recovery starts the following year.
Show earlier events
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 31 days late
2019
30-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
21-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
28-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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, Brussel · 1 establishment unit since 2013
Ground area
1,266 m²
Building footprint
900 m²
Volume, LiDAR
24,012 m³
Parcel 21805E0456/00C000, Brussels · tallest building 31.7 m, ±9 floors. Linked by address, not a title deed.
290
companies at this address
See who is registered here
1 establishment unit
MAK-SYSTEM
since 20132.224.200.003
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21805E0456/00C000 | Brussels | 1,266 m² | 1 · 900 m² | 31.7 m · 9 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 29,993 companies in sector 62200 we hold annual accounts for 18,396. 1,822 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded14-10-2013
Fiscal year end31-12
Activities, NACEBEL 2025
62200Computer consultancy and computer facilities management
Scores and ratios are computed by Checked and are not a credit decision.