MAKEOUT
ActiveSummary
MAKEOUT has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€580,916) and a net result of -€278,332. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 5% of 1453 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0=
Solvency0=
Growth22▼-15
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.03 against 0.42 in 2024; cash: 27.9% of total assets), and equity is negative.
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Signals
Six 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 →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Age of the figures
Age of the figures
9 mo
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
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year -€580,916
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 27-07-2026, 4 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
4 d early
2024
28 d late
2023
51 d late
2022
38 d late
2021
24 d late
2020
30 d late
2019
18 d early
← 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 21 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 33% 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 28 August (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check Which other companies belong to the same group?Nuclys · 450 companies How does this company compare with its sector?Sector benchmark
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, full schema
Turnover
€65,984▼ 91.0%
2024 · €735,508
EBIT margin
-383.5%▼ 357.9pp
2024 · -25.7%
Net result
-€278,332▼ 33.9%
2024 · -€207,908
Working capital
-€581,769▼ 93.0%
2024 · -€301,380
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 62, Computer programming, consultancy and related activities, 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
Turnover€479,806▲ 21.8%€632,747▲ 31.9%€367,826▼ 41.9%€735,508▲ 100.0%€65,984▼ 91.0%
Operating result€38,140▲ 2,568%€8,434▼ 77.9%-€171,758-€188,835▼ 9.9%-€253,072▼ 34.0%
Net result€26,086within the sector's middle half▲ 1,962%€2,412within the sector's middle half▼ 90.8%-€176,213below the sector's middle half-€207,908below the sector's middle half▼ 18.0%-€278,332below the sector's middle half▼ 33.9%
EBIT margin7.9%▲ 7.6pp1.3%▼ 6.6pp-46.7%▼ 48.0pp-25.7%▲ 21.0pp-383.5%▼ 357.9pp
Equity€79,126within the sector's middle half▲ 49.2%€81,537within the sector's middle half▲ 3.0%-€94,676below the sector's middle half-€302,583below the sector's middle half▼ 220%-€580,916below the sector's middle half▼ 92.0%
Total assets€176,977below the sector's middle half▲ 7.7%€192,339below the sector's middle half▲ 8.7%€121,905below the sector's middle half▼ 36.6%€222,389within the sector's middle half▲ 82.4%€17,917below the sector's middle half▼ 91.9%
Debt€97,852▼ 12.1%€110,802▲ 13.2%€216,580▲ 95.5%€524,972▲ 142%€598,832▲ 14.1%
Working capital€78,129within the sector's middle half▲ 55.3%€79,193within the sector's middle half▲ 1.4%-€96,415below the sector's middle half-€301,380below the sector's middle half▼ 213%-€581,769below the sector's middle half▼ 93.0%
Solvency44.7%within the sector's middle half▲ 12.4pp42.4%within the sector's middle half▼ 2.3pp-77.7%below the sector's middle half▼ 120.1pp-136.1%below the sector's middle half▼ 58.4pp
Current ratio1.80within the sector's middle half▲ 0.351.71within the sector's middle half▼ 0.080.55below the sector's middle half▼ 1.160.42below the sector's middle half▼ 0.130.03below the sector's middle half▼ 0.39
Return on assets (ROA)14.7%within the sector's middle half▲ 14.0pp1.3%within the sector's middle half▼ 13.5pp-144.5%below the sector's middle half▼ 145.8pp-93.5%below the sector's middle half▲ 51.1pp
Staff (FTE)3.2within the sector's middle half▲ 88.2%4.4within the sector's middle half▲ 37.5%3.3within the sector's middle half▼ 25.0%4.1within the sector's middle half▲ 24.2%2.3below the sector's middle half▼ 43.9%
above
within
below
the middle half (P25 to P75) of NACE 62, Computer programming, consultancy and related activities, each year against the same schema; no band under 30 filings.
Why a figure moved sharply
- 2025 Turnover -91% on 2024. The accounts now follow the full schema, last year the abbreviated schema.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €253,072 in 2025 against €188,835 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €17,917
Fixed assets
€853 ▼ 34.2%
Current assets
€17,064 ▼ 92.3%
Key figures and ratios
EBITDA
-€252,629▼
2024 · -€188,391
Cash flow
-€277,889▼
2024 · -€207,464
Debt to equity
-1.03▲
2024 · -1.73
Interest coverage
-10.05▲
2024 · -10.12
Debt ≤ 1 year
€598,832▲
2024 · €522,472
Income taxes
€121▼
2024 · €462
Staff costs
€76,478▼
2024 · €232,089
A ratio outside any meaningful range has been withheld (balance sheet total €17,917, equity -€580,916).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,038 companies that looked in July 2024 the way this one looks now, 7.3% went bankrupt within 24 months and 82% are still going.
- Micro
- 5 to 10 years old
- negative equity
- a loss of 10% of the balance sheet or more
7.3%
went bankrupt
8.2%
stopped otherwise
82%
still going
A further 2.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.4% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 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% | 1.7% |
| 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 75% 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 6,038 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 |
|---|---|---|---|---|---|---|
| Turnover70 | €479,806 | €632,747 | €367,826 | €735,508 | €65,984 | ▼ 91.0% |
| Goods, raw materials, services and sundry goods60/61 | €274,542 | €372,420 | €335,027 | €675,981 | €238,374 | ▼ 64.7% |
| Remuneration, social security and pensions62 | €170,636 | €247,748 | €204,169 | €232,089 | €76,478 | ▼ 67.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,745 | €7,496 | €605 | €443 | €443 | = |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | -€2,910 | - | - | €16,752 | €4,640 | ▼ 72.3% |
| Other operating charges640/8 | €1,328 | €912 | €1,907 | €2,001 | €1,045 | ▼ 47.8% |
| Gross operating margin9900 | €208,938 | €264,590 | €34,924 | €62,450 | -€170,467 | ▼ 373% |
| Operating profit (loss)9901 | €38,140 | €8,434 | -€171,758 | -€188,835 | -€253,072 | ▼ 34.0% |
| Financial income75/76B | €12 | €64 | €33 | - | - | - |
| Recurring financial income75 | €12 | €64 | €33 | - | - | - |
| Financial charges65/66B | €926 | €1,361 | €3,674 | €18,611 | €25,139 | ▲ 35.1% |
| Recurring financial charges65 | €926 | €1,361 | €3,674 | €18,611 | €25,139 | ▲ 35.1% |
| Profit (loss) for the period before taxes9903 | €37,226 | €7,137 | -€175,399 | -€207,445 | -€278,211 | ▼ 34.1% |
| Income taxes67/77 | €11,140 | €4,725 | €814 | €462 | €121 | ▼ 73.8% |
| Profit (loss) for the period9904 | €26,086 | €2,412 | -€176,213 | -€207,908 | -€278,332 | ▼ 33.9% |
| Profit (loss) for the period to be appropriated9905 | €26,086 | €2,412 | -€176,213 | -€207,908 | -€278,332 | ▼ 33.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €176,977 | €192,339 | €121,905 | €222,389 | €17,917 | ▼ 91.9% |
| Fixed assets21/28 | €997 | €2,345 | €1,740 | €1,297 | €853 | ▼ 34.2% |
| Tangible fixed assets22/27 | €997 | €2,345 | €1,740 | €1,297 | €853 | ▼ 34.2% |
| Plant, machinery and equipment23 | €997 | €162 | - | - | - | - |
| Furniture and vehicles24 | - | €1,078 | €856 | €634 | €412 | ▼ 35.1% |
| Other tangible fixed assets26 | - | €1,105 | €884 | €663 | €442 | ▼ 33.4% |
| Current assets29/58 | €175,980 | €189,995 | €120,165 | €221,092 | €17,064 | ▼ 92.3% |
| Amounts receivable within one year40/41 | €153,489 | €171,545 | €109,130 | €210,153 | €11,601 | ▼ 94.5% |
| Trade receivables40 | €122,794 | €119,960 | €104,963 | €210,087 | €4,901 | ▼ 97.7% |
| Other amounts receivable41 | €30,695 | €51,585 | €4,167 | €66 | €6,700 | ▲ 10,099% |
| Cash at bank and in hand54/58 | €10,857 | €6,147 | €8,818 | €5,625 | €4,992 | ▼ 11.3% |
| Deferred charges and accrued income490/1 | €11,634 | €12,303 | €2,217 | €5,315 | €471 | ▼ 91.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €176,977 | €192,339 | €121,905 | €222,389 | €17,917 | ▼ 91.9% |
| Equity10/15 | €79,126 | €81,537 | -€94,676 | -€302,583 | -€580,916 | ▼ 92.0% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €17,100 | €19,100 | €19,100 | €19,100 | €19,100 | = |
| Non-distributable reserves130/1 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Legal reserve130 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Distributable reserves133 | €10,900 | €12,900 | €12,900 | €12,900 | €12,900 | = |
| Profit (loss) carried forward14 | €26 | €437 | -€175,776 | -€383,683 | -€662,016 | ▼ 72.5% |
| Amounts payable17/49 | €97,852 | €110,802 | €216,580 | €524,972 | €598,832 | ▲ 14.1% |
| Amounts payable within one year42/48 | €97,852 | €110,802 | €216,580 | €522,472 | €598,832 | ▲ 14.6% |
| Trade debts44 | €65,376 | €70,905 | €65,449 | €91,343 | €12,784 | ▼ 86.0% |
| Suppliers440/4 | €65,376 | €70,905 | €65,449 | €91,343 | €12,784 | ▼ 86.0% |
| Taxes, remuneration and social security45 | €32,476 | €39,897 | €23,469 | €42,275 | €3,774 | ▼ 91.1% |
| Taxes450/3 | €15,942 | €21,265 | €10,081 | €13,837 | €583 | ▼ 95.8% |
| Remuneration and social security454/9 | €16,534 | €18,632 | €13,389 | €28,438 | €3,191 | ▼ 88.8% |
| Other amounts payable47/48 | - | - | €127,662 | €388,854 | €582,274 | ▲ 49.7% |
| Accrued charges and deferred income492/3 | - | - | - | €2,500 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €26,086 | €2,412 | -€176,213 | -€207,908 | -€278,332 | ▼ 33.9% |
| + Depreciation and write-downs630 | €1,745 | €7,496 | €605 | €443 | €443 | = |
| Operating cash flow (approximation) | €27,831 | €9,908 | -€175,608 | -€207,464 | -€277,889 | ▼ 33.9% |
| Investment in fixed assets (approximation) | - | -€8,844 | €0 | €0 | €0 | - |
| Change in cash | - | -€4,710 | €2,671 | -€3,193 | -€633 | ▲ 80.2% |
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
27-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Weakest financial yearnet -€278,332
Net result drops to -€278,332, the lowest in the series.
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 28 days late
2024
20-09
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 51 days late
2023
07-09
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 38 days late
2022
24-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 24 days late
2021
31-12
Financial
Highest result since 2019net €26,086 ▲1,962%
Operating result €38,140, net result €26,086, both a record.
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 30 days late
2020
31-12
Financial
Back to profitnet €1,265
Net result €1,265 after one loss-making year.
13-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 10 acts read
About the unread acts
We know of 10 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
10 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, Kontich · 1 establishment unit since 2018
Ground area
3,333 m²
Building footprint
933 m²
Volume, LiDAR
7,846 m³
Parcel 11024B0079/00F000, Flanders · tallest building 10.3 m, ±3 floors. Linked by address, not a title deed.
79
companies at this address
See who is registered here
1 establishment unit
MAKEOUT
since 20182.275.078.283
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11024B0079/00F000 | Flanders | 3,333 m² | 1 · 932 m² | 10.3 m · 3 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.
Structure & network
Part of the group
Nuclys
450 companies
Group, risk and exposure
Owners and holdings
1 ownerChain of control
- Nuclys
- De Cronos Groep
- MAKEOUT
Highest known parent: Nuclys. The sources do not say who stands above it.
Owners 1
- De Cronos GroepparentSourceown accounts 2025100%
Holdings 0
The accounts to 31-12-2025 list no holdings, and no other source names one.
According to the 2025 annual accounts of MAKEOUT and those 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
No current directors or connected companies found in the register.
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Of 30,007 companies in sector 62200 we hold annual accounts for 18,400. 15,588 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
Founded26-01-2018
Fiscal year end31-12
Activities, NACEBEL 2025
62200Computer consultancy and computer facilities management
E-invoicing
Reachable via Peppol
Peppol ID
0208:0688926464
Also
9925:BE0688926464
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.