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MAKART

Active
Public limited companyfounded 199135 yrs activeAvenue Alfred Deponthière 54, 4431 Ans, BelgiumKBO/BCE: BE 0443.513.197
Summary

MAKART has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €6.33M and a net result of €353k. Equity is growing by ~5.4% per year across the filed fiscal years. Its solvency ranks better than 57% of 5989 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.5% (very low).

Checked score

Score 2024
59 / 100
Fair
A confirmed filing finding caps the score. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability60▼-14
Solvency74▼-6
Growth49▼-17
Track record100
Bankruptcy probability, 12 months
0.5% Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €370k at 30 days only on tighter terms
Liquidity ample (current ratio 1.68 against 1.83 in 2023; short-term debt: 49.5% and cash: 19% of total assets), but 51.3% of the assets are financed with debt.
Credit check for your own amount and term

Signals

Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 35 years 0 40 y
raises risk · Multiple establishment units
Several establishment units mean more fixed costs, and such companies fail more often than a company with one establishment.
KBO · establishment units
lowers risk · Lower-risk legal form
Companies with this legal form statistically fail less often than a BV.
KBO · legal form
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% 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 2024
Solvency, return and age of the figures
Solvency
48.7%
Return on assets
2.7%
Age of the figures
21 mo
raises risk · Higher-failure-rate region
In this region companies fail more often than in the rest of the country.
KBO · registered office
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 17-12-2025, 139 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 10 filings
Deviation from the deadline
2025
not confirmed
2024
139 d late
2023
119 d late
2022
86 d late
2021
74 d late
2020
89 d late
2019
95 d late
← before the deadline after the deadline →
Checked, nothing found (1)
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

Financials · fiscal year 2024, full schema

Turnover
€20.34M▲ 1.2%
2023 · €20.09M
2018: €17.32M 2019: €17.14M▼ -1.1% vs 2018 2020: €10.71M▼ -37.5% vs 2019lowest in 7 years 2021: €13.65M▲ +27.4% vs 2020 2022: €18.67M▲ +36.8% vs 2021 2023: €20.09M▲ +7.6% vs 2022 2024: €20.34M▲ +1.2% vs 2023highest in 7 years
2018 → 2024
EBIT margin
2.4%▼ 5.4pp
2023 · 7.9%
2018: 6.1% 2019: 5.7%▼ -6.5% vs 2018 2020: 7.5%▲ +32.4% vs 2019 2021: 7.0%▼ -6.8% vs 2020 2022: 2.8%▼ -60.2% vs 2021 2023: 7.9%▲ +181% vs 2022highest in 7 years 2024: 2.4%▼ -69.0% vs 2023lowest in 7 years
2018 → 2024
Net result
€353k▼ 70.6%
2023 · €1.20M
2018: €758k 2019: €832k▲ +9.8% vs 2018 2020: €728k▼ -12.5% vs 2019 2021: €687k▼ -5.6% vs 2020 2022: €450k▼ -34.5% vs 2021 2023: €1.20M▲ +167% vs 2022highest in 7 years 2024: €353k▼ -70.6% vs 2023lowest in 7 years
2018 → 2024
Working capital
€4.36M▲ 0.8%
2023 · €4.33M
2018: €1.86Mlowest in 7 years 2019: €2.24M▲ +20.5% vs 2018 2020: €2.40M▲ +7.1% vs 2019 2021: €3.38M▲ +40.5% vs 2020 2022: €3.60M▲ +6.6% vs 2021 2023: €4.33M▲ +20.2% vs 2022 2024: €4.36M▲ +0.8% vs 2023highest in 7 years
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise ▼ fall
Line20202021202220232024Trend
Turnover€10.71M-€13.65M▲ 27.4%€18.67M▲ 36.8%€20.09M▲ 7.6%€20.34M▲ 1.2% 2020: €10.71Mlowest in 5 years 2021: €13.65M▲ +27.4% vs 2020 2022: €18.67M▲ +36.8% vs 2021 2023: €20.09M▲ +7.6% vs 2022 2024: €20.34M▲ +1.2% vs 2023highest in 5 years
Equity€5.09M-€5.77M▲ 13.3%€6.01M▲ 4.2%€6.54M▲ 8.9%€6.33M▼ 3.3% 2020: €5.09Mlowest in 5 years 2021: €5.77M▲ +13.3% vs 2020 2022: €6.01M▲ +4.2% vs 2021 2023: €6.54M▲ +8.9% vs 2022highest in 5 years 2024: €6.33M▼ -3.3% vs 2023
Operating result€809k-€961k▲ 18.8%€523k▼ 45.5%€1.58M▲ 202%€496k▼ 68.6% 2020: €809k 2021: €961k▲ +18.8% vs 2020 2022: €523k▼ -45.5% vs 2021 2023: €1.58M▲ +202% vs 2022highest in 5 years 2024: €496k▼ -68.6% vs 2023lowest in 5 years
Net result€728k-€687k▼ 5.6%€450k▼ 34.5%€1.20M▲ 167%€353k▼ 70.6% 2020: €728k 2021: €687k▼ -5.6% vs 2020 2022: €450k▼ -34.5% vs 2021 2023: €1.20M▲ +167% vs 2022highest in 5 years 2024: €353k▼ -70.6% vs 2023lowest in 5 years
Result per fiscal year
Operating resultNet result
€0€500k€1.00M€1.50MOperating result 2020: €809k€809kNet result 2020: €728k€728kOperating result 2021: €961k€961kNet result 2021: €687k€687kOperating result 2022: €523k€523kNet result 2022: €450k€450kOperating result 2023: €1.58M€1.58MNet result 2023: €1.20M€1.20MOperating result 2024: €496k€496kNet result 2024: €353k€353k20202021202220232024€0€500k€1M€1.5MOperating result 2022: €523k€523kNet result 2022: €450k€450kOperating result 2023: €1.58M€1.6MNet result 2023: €1.20M€1.2MOperating result 2024: €496k€496kNet result 2024: €353k€353k202220232024
The operating result falls in 2024; 2024 is 69% below 2023 and is the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €13.00M
Fixed assets €2.20M ▼ 4.7%
Current assets €10.80M ▲ 13.3%
Equity and liabilities €13.00M
Equity €6.33M ▼ 3.3%
Provisions €236k ▲ 175%
Debt €6.44M ▲ 23.4%
Debt's share of the balance-sheet total rises from 44.0% to 49.5%. Equity is lower and debt is higher.
Key figures and ratios
2024 value · change against 2023
EBITDA
€851k▼
2023 · €1.98M
Cash flow
€708k▼
2023 · €1.60M
Current ratio
1.68▼
2023 · 1.83
Quick ratio
0.87▼
2023 · 0.91
Debt to equity
1.02▲
2023 · 0.80
ROE
5.6%▼
2023 · 18.3%
ROA
2.7%▼
2023 · 10.1%
Interest coverage
888.17▲
2023 · 405.42
Debt ≤ 1 year
€6.44M▲
2023 · €5.21M
Income taxes
€150k▼
2023 · €372k
Staff costs
€1.66M▲
2023 · €1.56M
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 · 2024 against 2023 · 90 lines
Balance sheet Code20232024
Assets
Total assets20/58€11.84M€13.00M▲
Fixed assets21/28€2.31M€2.20M▼
Intangible fixed assets21€3k€2k▼
Tangible fixed assets22/27€2.28M€2.17M▼
Land and buildings22€1.96M€1.84M▼
Plant, machinery and equipment23€10k€52k▲
Furniture and vehicles24€255k€223k▼
Other tangible fixed assets26€50k€55k▲
Financial fixed assets28€32k€32k▲
Other financial fixed assets284/8€32k€32k▲
Shares284€3k€3k=
Amounts receivable and cash guarantees285/8€29k€29k▲
Current assets29/58€9.53M€10.80M▲
Stocks and contracts in progress3€4.78M€5.20M▲
Stocks30/36€4.78M€5.20M▲
Goods purchased for resale34€4.78M€5.20M▲
Amounts receivable within one year40/41€2.60M€3.04M▲
Trade receivables40€2.56M€2.86M▲
Other amounts receivable41€39k€180k▲
Cash at bank and in hand54/58€2.01M€2.47M▲
Deferred charges and accrued income490/1€141k€85k▼
Equity and liabilities
Total equity and liabilities10/49€11.84M€13.00M▲
Equity10/15€6.54M€6.33M▼
Contributions10/11€174k€174k=
Capital10€174k€174k=
Issued capital100€174k€174k=
Reserves13€6.28M€6.06M▼
Non-distributable reserves130/1€17k€17k=
Legal reserve130€17k€17k=
Tax-exempt reserves132€389k€573k▲
Distributable reserves133€5.87M€5.47M▼
Profit (loss) carried forward14€5k€15k▲
Investment grants15€87k€79k▼
Provisions and deferred taxes16€86k€236k▲
Provisions for liabilities and charges160/5-€160k
Taxes161-€160k
Deferred taxes168€86k€76k▼
Amounts payable17/49€5.22M€6.44M▲
Amounts payable within one year42/48€5.21M€6.44M▲
Financial debts43€750k€700k▼
Credit institutions430/8€750k€700k▼
Trade debts44€3.18M€4.78M▲
Suppliers440/4€3.18M€4.78M▲
Taxes, remuneration and social security45€520k€350k▼
Taxes450/3€297k€140k▼
Remuneration and social security454/9€223k€210k▼
Other amounts payable47/48€759k€610k▼
Accrued charges and deferred income492/3€8k€783▼
Income statement Code20232024
Operating income70/76A€20.28M€20.41M▲
Turnover70€20.09M€20.34M▲
Other operating income74€188k€75k▼
Non-recurring operating income76A€3k-
Operating charges60/66A€18.70M€19.91M▲
Goods for resale, raw materials and consumables60€15.18M€16.25M▲
Purchases600/8€16.18M€16.67M▲
Change in stocks: decrease (increase)609€-999k€-421k▲
Services and other goods61€1.42M€1.40M▼
Remuneration, social security and pensions62€1.56M€1.66M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€399k€355k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-106k€-34k▲
Provisions for liabilities and charges: additions (uses and reversals)635/8-€160k
Other operating charges640/8€240k€125k▼
Non-recurring operating charges66A€5k-
Operating profit (loss)9901€1.58M€496k▼
Financial income75/76B€39k€45k▲
Recurring financial income75€39k€45k▲
Income from current assets751€134€304▲
Other financial income752/9€39k€45k▲
Financial charges65/66B€59k€48k▼
Recurring financial charges65€59k€48k▼
Debt charges650€5k€958▼
Other financial charges652/9€54k€47k▼
Profit (loss) for the period before taxes9903€1.56M€493k▼
Transfer from deferred taxes780€10k€10k▼
Income taxes67/77€372k€150k▼
Taxes670/3€372k€150k▼
Profit (loss) for the period9904€1.20M€353k▼
Transfer from tax-exempt reserves789€27k€27k=
Transfer to tax-exempt reserves689€211k€211k=
Profit (loss) for the period to be appropriated9905€1.02M€169k▼
Appropriation of the result
Profit (loss) to be appropriated9906€1.02M€175k▼
Profit (loss) brought forward from the previous period14P€3k€5k▲
Transfer from equity791/2-€400k
From reserves792-€400k
Transfer to equity691/2€355k-
To other reserves6921€355k-
Profit to be distributed694/7€660k€560k▼
Return on contributions (dividend)694€360k€360k=
Directors or managers695€300k€200k▼
Social balance
Average headcount (FTE)908738.639.6▲

The notes to these accounts (51 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Accounts by statement
Line20202021202220232024Change
Operating income70/76A-€13.74M€18.81M€20.28M€20.41M▲ 0.6%
Turnover70€10.71M€13.65M€18.67M€20.09M€20.34M▲ 1.2%
Other operating income74-€87k€127k€188k€75k▼ 59.8%
Non-recurring operating income76A--€10k€3k--
Operating charges60/66A-€12.78M€18.29M€18.70M€19.91M▲ 6.5%
Goods for resale, raw materials and consumables60-€10.61M€14.67M€15.18M€16.25M▲ 7.1%
Purchases600/8-€10.89M€15.66M€16.18M€16.67M▲ 3.0%
Change in stocks: decrease (increase)609-€-281k€-988k€-999k€-421k▲ 57.9%
Services and other goods61-€1.03M€1.75M€1.42M€1.40M▼ 1.2%
Remuneration, social security and pensions62-€580k€1.24M€1.56M€1.66M▲ 6.1%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€519k€450k€425k€399k€355k▼ 11.2%
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€-14k€112k€-106k€-34k▲ 68.0%
Provisions for liabilities and charges: additions (uses and reversals)635/8----€160k-
Other operating charges640/8-€117k€87k€240k€125k▼ 48.0%
Non-recurring operating charges66A-€1k-€5k--
Operating profit (loss)9901€809k€961k€523k€1.58M€496k▼ 68.6%
Financial income75/76B-€20k€54k€39k€45k▲ 14.8%
Recurring financial income75€12k€20k€54k€39k€45k▲ 14.8%
Income from current assets751---€134€304▲ 127%
Other financial income752/9-€20k€54k€39k€45k▲ 14.4%
Financial charges65/66B-€34k€20k€59k€48k▼ 17.6%
Recurring financial charges65€37k€34k€20k€59k€48k▼ 17.6%
Debt charges650€20k€20k€5k€5k€958▼ 80.4%
Other financial charges652/9-€13k€16k€54k€47k▼ 11.9%
Profit (loss) for the period before taxes9903€784k€947k€557k€1.56M€493k▼ 68.4%
Transfer from deferred taxes780-€10k€10k€10k€10k▼ 1.5%
Income taxes67/77€67k€270k€118k€372k€150k▼ 59.6%
Taxes670/3-€270k€118k€372k€150k▼ 59.6%
Profit (loss) for the period9904€728k€687k€450k€1.20M€353k▼ 70.6%
Transfer from tax-exempt reserves789-€27k€27k€27k€27k=
Transfer to tax-exempt reserves689---€211k€211k=
Profit (loss) for the period to be appropriated9905€758k€714k€477k€1.02M€169k▼ 83.3%
Line20202021202220232024Change
Assets
Total assets20/58€9.14M€9.23M€10.29M€11.84M€13.00M▲ 9.8%
Fixed assets21/28€2.98M€2.54M€2.52M€2.31M€2.20M▼ 4.7%
Intangible fixed assets21--€4k€3k€2k▼ 32.2%
Tangible fixed assets22/27€2.94M€2.50M€2.49M€2.28M€2.17M▼ 4.7%
Land and buildings22-€2.10M€2.16M€1.96M€1.84M▼ 6.2%
Plant, machinery and equipment23-€26k€13k€10k€52k▲ 427%
Furniture and vehicles24-€372k€277k€255k€223k▼ 12.8%
Other tangible fixed assets26--€39k€50k€55k▲ 8.8%
Financial fixed assets28€48k€37k€32k€32k€32k▲ 0.7%
Other financial fixed assets284/8-€37k€32k€32k€32k▲ 0.7%
Shares284-€3k€3k€3k€3k=
Amounts receivable and cash guarantees285/8-€34k€29k€29k€29k▲ 0.7%
Current assets29/58€6.16M€6.69M€7.77M€9.53M€10.80M▲ 13.3%
Stocks and contracts in progress3€2.51M€2.79M€3.78M€4.78M€5.20M▲ 8.8%
Stocks30/36-€2.79M€3.78M€4.78M€5.20M▲ 8.8%
Goods purchased for resale34-€2.79M€3.78M€4.78M€5.20M▲ 8.8%
Amounts receivable within one year40/41€1.68M€1.65M€2.15M€2.60M€3.04M▲ 16.9%
Trade receivables40-€1.64M€2.14M€2.56M€2.86M▲ 11.7%
Other amounts receivable41-€6k€11k€39k€180k▲ 363%
Cash at bank and in hand54/58€1.96M€2.25M€1.82M€2.01M€2.47M▲ 22.9%
Deferred charges and accrued income490/1-€63€13k€141k€85k▼ 39.3%
Equity and liabilities
Total equity and liabilities10/49€9.14M€9.23M€10.29M€11.84M€13.00M▲ 9.8%
Equity10/15€5.09M€5.77M€6.01M€6.54M€6.33M▼ 3.3%
Contributions10/11€174k€174k€174k€174k€174k=
Capital10-€174k€174k€174k€174k=
Issued capital100-€174k€174k€174k€174k=
Reserves13€4.80M€5.49M€5.74M€6.28M€6.06M▼ 3.5%
Non-distributable reserves130/1-€17k€17k€17k€17k=
Legal reserve130-€17k€17k€17k€17k=
Tax-exempt reserves132-€233k€206k€389k€573k▲ 47.1%
Distributable reserves133-€5.24M€5.52M€5.87M€5.47M▼ 6.8%
Profit (loss) carried forward14€2k€1k€3k€5k€15k▲ 176%
Investment grants15-€104k€95k€87k€79k▼ 9.1%
Provisions and deferred taxes16€117k€106k€96k€86k€236k▲ 175%
Provisions for liabilities and charges160/5----€160k-
Taxes161----€160k-
Deferred taxes168-€106k€96k€86k€76k▼ 11.5%
Amounts payable17/49€3.94M€3.35M€4.19M€5.22M€6.44M▲ 23.4%
Amounts payable after more than one year17€180k€9k----
Financial debts170/4-€9k----
Credit institutions173-€9k----
Amounts payable within one year42/48€3.76M€3.31M€4.17M€5.21M€6.44M▲ 23.6%
Current portion of amounts payable after more than one year42-€176k€9k---
Financial debts43---€750k€700k▼ 6.7%
Credit institutions430/8---€750k€700k▼ 6.7%
Trade debts44€1.66M€2.32M€3.05M€3.18M€4.78M▲ 50.3%
Suppliers440/4-€2.32M€3.05M€3.18M€4.78M▲ 50.3%
Taxes, remuneration and social security45-€538k€810k€520k€350k▼ 32.7%
Taxes450/3-€430k€585k€297k€140k▼ 52.9%
Remuneration and social security454/9-€108k€225k€223k€210k▼ 5.8%
Other amounts payable47/48-€278k€301k€759k€610k▼ 19.7%
Accrued charges and deferred income492/3-€29k€16k€8k€783▼ 90.7%
Line20202021202220232024Change
Profit (loss) for the period9904€728k€687k€450k€1.20M€353k▼ 70.6%
+ Depreciation and write-downs630€519k€450k€425k€399k€355k▼ 11.2%
Operating cash flow (approximation)€1.25M€1.14M€875k€1.60M€708k▼ 55.8%
Investment in fixed assets (approximation)-€-2k€-412k€-188k€-246k▼ 31.0%
Change in cash-€286k€-427k€188k€461k▲ 144%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

2025
17-12
NBB filing Annual accounts filed
fiscal year 2024 · full schema · 139 days late
2024
31-12
Financial Weakest financial yearnet €353k ▼70.6%
Net result drops to €353k, the lowest in the series.
27-11
NBB filing Annual accounts filed
fiscal year 2023 · full schema · 119 days late
2023
31-12
Financial Highest result since 2018net €1.20M ▲167%
Operating result €1.58M, net result €1.20M, both a record.
25-10
NBB filing Annual accounts filed
fiscal year 2022 · full schema · 86 days late
2022
13-10
NBB filing Annual accounts filed
fiscal year 2021 · full schema · 74 days late
2021
28-10
NBB filing Annual accounts filed
fiscal year 2020 · full schema · 89 days late
2020
03-11
NBB filing Annual accounts filed
fiscal year 2019 · full schema · 95 days late
2019
31-12
Financial Equity above €5MEq €5.02M ▲4.6%
2 profitable years in a row build equity to €5.02M.
02-10
NBB filing Annual accounts filed
fiscal year 2018 · full schema · 63 days late
2018
20-09
NBB filing Annual accounts filed
fiscal year 2017 · full schema · 51 days late
2017
25-09
NBB filing Annual accounts filed
fiscal year 2016 · full schema · 56 days late
2016
29-08
NBB filing Annual accounts filed
fiscal year 2015 · full schema · 29 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 12 acts read
About the unread acts

We know of 12 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

Have them read with priority Sign in to place this company at the front of the reading queue.

Directors · office · real estate

Directors
12 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, Ans · 2 establishment units since 1991
seat establishment All 2 establishment units on the map
Ground area
2.0 ha
Building footprint
6,497 m²
Volume, LiDAR
41,785 m³
2 parcels, Wallonia · tallest building 10.4 m, ±3 floors. Linked by address, not a title deed.
3 companies at this address See who is registered here
2 establishment units
Avenue Alfred Deponthière 54, 4431 Ans
Air transport
since 19912.052.126.654
HESBY-DRINK
Rue de Landen 61, 4280 HannutNACE 52240
since 19972.052.126.555
2 parcels
Wallonia 2 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
62066B0042/00B002 Wallonia 1.6 ha 1 · 5,108 m² 10.4 m · 3 fl.
64034A0642/00X000 Wallonia 3,901 m² 1 · 1,389 m² -
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.

Recognitions · licences · registrations

Food safety, FASFC

2 sites
Ans2.052.126.654
1 permission
Groothandelaar LM>3 maand · since 01-01-2006
Hannut2.052.126.555
1 permission
Detailhandel LM>3 maand · since 20-08-2015

Similar companies · same sector, comparable size

Of 1,580 companies in sector 46349 we hold annual accounts for 987. 270 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
Founded11-03-1991
Fiscal year end31-12
Activities, NACEBEL 2025
46349Wholesale of beverages, general range
47252Retail sale of beverages, general range
46331Wholesale trade

Scores and ratios are computed by Checked and are not a credit decision.