MAKESHIFT
ActiveSummary
MAKESHIFT has been active since 1994 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €168,491 and a net result of €83,807. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 92% of 5,672 sector peers (NACE 96, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
- Equity
- €168,491
- Profit
- €83,807
Why 98raises riskLast filed accounts filed 31 days late; 1 of the last 3 latelowers riskFounded in 1994Liquidity: current ratio 5.88, cash €28,529, halvedEquity €168,491 (84.0% of total assets)Show the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 96, micro): better than 93% on solvency, 68% on liquidity, 93% on profitability and 90% on growth.
The bankruptcy probability was computed on 27-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 14 days after the deadline; the sector median (NACE 96) for financial year 2024 is on the deadline day, and 48% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Highest result from 2018 to 2025net €83,807 ▲5%
- Liquidity more than triplescurrent ratio 5.88
Financials · financial year 2025, micro format
2025 annual accounts filed late (31 days) Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00504702.
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 6% above 2024 and is the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 96, Personal service activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Peer companies
Historical observationOf the 31,368 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 93.5% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.1% 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 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 31,368 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €57 | €57 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,613 | €6,061 | €6,289 | €6,752 | €5,898 | €906 | €852 | €1,773 | ▲ 108% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €1,000 | - | - | - | - | - |
| Other operating charges640/8 | - | - | - | €503 | €574 | €95 | €1,487 | €536 | ▼ 64.0% |
| Gross operating margin9900 | €2,576 | €7,097 | €6,882 | €7,945 | -€7,164 | €23,334 | €118,238 | €124,683 | ▲ 5.5% |
| Operating profit (loss)9901 | -€3,564 | €536 | €91 | -€368 | -€13,693 | €22,332 | €115,898 | €122,374 | ▲ 5.6% |
| Financial income75/76B | - | - | - | €80 | €7,025 | - | €3,610 | €3,592 | ▼ 0.5% |
| Recurring financial income75 | €29 | €97 | €6 | €80 | €0 | - | €3,610 | €3,592 | ▼ 0.5% |
| Non-recurring financial income76B | - | - | - | - | €7,024 | - | - | - | - |
| Financial charges65/66B | - | - | - | €57 | €69 | €16 | €1,791 | €4,837 | ▲ 170% |
| Recurring financial charges65 | €48 | €64 | €184 | €57 | €69 | €16 | €1,791 | €4,837 | ▲ 170% |
| Profit (loss) for the period before taxes9903 | -€631 | €568 | -€87 | -€345 | -€6,737 | €22,317 | €117,717 | €121,129 | ▲ 2.9% |
| Income taxes67/77 | €116 | €169 | €363 | -€72 | €149 | - | €37,870 | €37,323 | ▼ 1.4% |
| Profit (loss) for the period9904 | -€747 | €399 | -€450 | -€274 | -€6,887 | €22,317 | €79,848 | €83,807 | ▲ 5.0% |
| Profit (loss) for the period to be appropriated9905 | -€747 | €399 | -€450 | -€274 | -€6,887 | €22,317 | €79,848 | €83,807 | ▲ 5.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €33,688 | €27,824 | €22,476 | €12,587 | €5,386 | €26,489 | €177,699 | €200,700 | ▲ 12.9% |
| Fixed assets21/28 | €23,160 | €18,442 | €15,068 | €8,316 | €2,418 | €1,995 | €11,007 | €11,445 | ▲ 4.0% |
| Tangible fixed assets22/27 | €23,160 | €18,442 | €15,068 | €8,316 | €2,418 | €1,995 | €10,607 | €11,045 | ▲ 4.1% |
| Plant, machinery and equipment23 | - | - | - | €165 | - | - | €2,696 | €2,125 | ▼ 21.2% |
| Furniture and vehicles24 | - | - | - | €5,803 | €1,306 | €1,995 | €7,911 | €8,921 | ▲ 12.8% |
| Other tangible fixed assets26 | - | - | - | €2,348 | €1,112 | - | - | - | - |
| Financial fixed assets28 | - | - | - | - | - | - | €400 | €400 | = |
| Current assets29/58 | €10,528 | €9,382 | €7,408 | €4,270 | €2,968 | €24,494 | €166,692 | €189,254 | ▲ 13.5% |
| Amounts receivable after more than one year29 | - | - | - | - | - | - | €100,000 | €152,000 | ▲ 52.0% |
| Other amounts receivable291 | - | - | - | - | - | - | €100,000 | €152,000 | ▲ 52.0% |
| Stocks and contracts in progress3 | €3,223 | €2,438 | €2,748 | €1,748 | - | - | - | - | - |
| Stocks30/36 | - | - | - | €1,748 | - | - | - | - | - |
| Amounts receivable within one year40/41 | - | €82 | €888 | €678 | €1,683 | €399 | - | €5,626 | - |
| Trade receivables40 | - | - | - | €315 | €1,538 | - | - | €1,450 | - |
| Other amounts receivable41 | - | - | - | €364 | €145 | €399 | - | €4,176 | - |
| Cash at bank and in hand54/58 | €7,305 | €6,862 | €3,771 | €1,573 | €1,284 | €24,095 | €63,291 | €28,529 | ▼ 54.9% |
| Deferred charges and accrued income490/1 | - | - | - | €271 | - | - | €3,400 | €3,100 | ▼ 8.8% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €33,688 | €27,824 | €22,476 | €12,587 | €5,386 | €26,489 | €177,699 | €200,700 | ▲ 12.9% |
| Equity10/15 | -€10,269 | -€9,870 | -€10,320 | -€10,593 | -€17,480 | €4,837 | €84,684 | €168,491 | ▲ 99.0% |
| Contributions10/11 | €6,197 | €6,197 | - | €6,197 | €6,197 | €6,197 | €6,197 | €6,197 | = |
| Reserves13 | - | - | - | - | - | - | €78,487 | €162,294 | ▲ 107% |
| Distributable reserves133 | - | - | - | - | - | - | €78,487 | €162,294 | ▲ 107% |
| Profit (loss) carried forward14 | -€16,466 | -€16,067 | -€16,517 | -€16,791 | -€23,677 | -€1,361 | - | - | - |
| Amounts payable17/49 | €43,957 | €37,694 | €32,796 | €23,180 | €22,866 | €21,652 | €93,015 | €32,209 | ▼ 65.4% |
| Amounts payable after more than one year17 | €8,969 | €8,969 | €8,969 | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €34,988 | €28,725 | €23,827 | €23,180 | €22,866 | €21,652 | €93,015 | €32,209 | ▼ 65.4% |
| Trade debts44 | €478 | €439 | €479 | €186 | €1,415 | €2,000 | €4,091 | €748 | ▼ 81.7% |
| Suppliers440/4 | - | - | - | €186 | €1,415 | €2,000 | €4,091 | €748 | ▼ 81.7% |
| Taxes, remuneration and social security45 | - | - | - | €291 | €296 | - | €36,003 | €31,162 | ▼ 13.4% |
| Taxes450/3 | - | - | - | €291 | €296 | - | €36,003 | €31,162 | ▼ 13.4% |
| Other amounts payable47/48 | - | - | - | €22,703 | €21,155 | €19,652 | €52,921 | €298 | ▼ 99.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€747 | €399 | -€450 | -€274 | -€6,887 | €22,317 | €79,848 | €83,807 | ▲ 5.0% |
| + Depreciation and write-downs630 | €5,613 | €6,061 | €6,289 | €6,752 | €5,898 | €906 | €852 | €1,773 | ▲ 108% |
| Operating cash flow (approximation) | €4,866 | €6,460 | €5,839 | €6,478 | -€989 | €23,222 | €80,699 | €85,579 | ▲ 6.0% |
| Investment in fixed assets (approximation) | - | -€1,344 | -€2,915 | €0 | €0 | -€482 | -€9,864 | -€2,211 | ▲ 77.6% |
| Change in cash | - | -€443 | -€3,091 | -€2,198 | -€289 | €22,810 | €39,197 | -€34,763 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 32 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 31-08-2026 | 2026-00504702 |
| 31-12-2024 | micro format | 31-07-2025 | 2025-00351099 |
| 31-12-2023 | micro format | 07-08-2024 | 2024-00336316 |
| 31-12-2022 | micro format | 11-08-2023 | 2023-00328058 |
| 31-12-2021 | micro format | 08-07-2022 | 2022-20172546 |
| 31-12-2020 | micro format | 03-08-2021 | 2021-45700338 |
| 31-12-2019 | micro format | 08-10-2020 | 2020-60600494 |
| 31-12-2018 | micro format | 28-06-2019 | 2019-26400016 |
| 31-12-2017 | micro format | 22-06-2018 | 2018-21900049 |
| 31-12-2016 | micro format | 18-07-2017 | 2017-32700437 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| BODEN Geert |
|
| ICKX Jill |
|
| SMETS Jeanne |
|
Owners and capital
Capital and shareholders
- 05-10-2023 Converted to unavailable equity
Group and network
Connections & network
2 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
05-10
Gazette deed
Resignation: SMETS Jeanne (director)Appointments: ICKX Jill (director) and BODEN Geert (director) · Legal-form conversion · Capital conversion16 facts ▸
- General meeting, “buitengewone algemene vergadering” (deed in Dutch)
- Legal-form conversion, “besloten vennootschap” (deed in Dutch)
- Capital conversion, “onbeschikbare eigenvermogensrekening” (deed in Dutch)
- Reserve release, “opheffing statutair onbeschikbare eigen vermogensrekening, middelen beschikbaar voor uitkering” (deed in Dutch)
- Name change, MAKESHIFT
- Registered-office move, Leopoldslei 158,2930 Brasschaat
- Other provision, “verslag bestuursorgaan artikel 5:101 WVV bij wijziging voorwerp” (deed in Dutch)
- Purpose change
- Power of attorney
- Director resignation, SMETS Jeanne (director)
- Board rule, 2
- Director appointment, ICKX Jill (director (not named in the articles))
- +4 further facts in this act
Show earlier events
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 27 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 11323F0398/00N002 | Flanders | 1,056 m² | 1 · 165 m² | 10.4 m · 3 |
How the parcels are linked
Articles of association
What the company does
- Name clauseThe name the company operates under according to its articles.
- MAKESHIFT
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaamse Gewest” (deed in Dutch)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- Each director alone
- Board ruleHow the board is made up, meets and takes decisions.
- “Een of meer bestuurders,natuurlijke of rechtspersonen,al dan niet aandeelhouder,met of zonder beperking duur,statutair mogelijk, onbepaalde…” (deed in Dutch)
- Power of attorneyA special mandate allowing someone to perform one or more acts on the company's behalf.
- One provision in the deed
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Last Friday of June at 20:00