maKs

Active

Private limited companyfounded 2009active for 17 yearsPathoekeweg 19/21, 8000 Brugge, BelgiumKBO/BCE: BE 0809.895.461

Summary

The computed 12-month bankruptcy probability of maKs is 2.4% (moderate). The 2025 annual accounts show equity of €168,928 and a net result of -€123,375. Equity has been shrinking by about 8.1% per year since 2018. Its solvency ranks better than 21% of 9,898 sector peers (NACE 43, financial year 2025). The company has been active since 2009 and the Belgian Official Gazette contains no insolvency or warning signals.

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maKsActiveChecked score 50/100

Risk analysis Report Compare

Overview

Official details

Source: KBO

Status: Active since 16-02-2009 Normal situation
Activity: Insulation installation NACE 43230and 4 others
Joint committees: 200 Aanvullend Paritair Comité voor de bedienden
: 124 Paritair Comité voor het bouwbedrijf · annual accounts 2025
Establishment unit: 2.176.778.483 8000 Brugge, since 17-03-2009
Financial year end: 31 December
Peppol: Reachable since 21-10-2026

Company details

Board and ownership

Board

JL MANAGEMENTManaging director
JELILODirector · since 16-04-2024

Shareholders

VERPOLA100%· score 702025 annual accounts of VERPOLA

Board & ownership

Financial position

50 Fair Checked score 2025

Bankruptcy probabilitywithin 12 months: 2.4%

Annual accounts 2025

Gross margin: €440,571; ▼ 26.7%
Turnover: ≈ €1.2m; estimated
Loss: €123,375; ▲ 147%
Equity: €168,928; ▼ 42.2%
Total assets: €852,379; ▲ 72.1%
Employees on 31-12-2025: 9; =

Financials

Score breakdownraises riskLoss of €123,375, the second in a row (financial year 2025)1 of the last 3 accounts lateSector: Specialised construction activities (NACE 43)lowers riskLiquidity: current ratio 0.67, cash €154,466Show the evidence

Checked score

Score 2025

50 / 100

Fair

Probability in this band: 1.5% to 4.2%

Financially stronger than 14% of micro companies in specialised construction (NACE 43)

Every signal that counts is listed under Signals.

Financial strength · tick: 2024

Weak

Solvency 45-39

equity 19.8% of total assets

Liquidity 29-24

short-term debt 80.2% · cash 18.1%

Profitability 1-5

return on assets -14.5%

Bankruptcy probability within 12 months

2.4% Moderate

0%0.5%1.5%4%10%≥ 25%

About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.7% (47,674 companies, NACE 43, micro)

Last 24 months 12-2024: 1.6% 01-2025: 2.4%▲ +0.8 percentage points vs 12-2024 02-2025: 2.3%▼ -0.1 percentage points vs 01-2025 03-2025: 2.4%▲ +0.1 percentage points vs 02-2025 04-2025: 2.2%▼ -0.2 percentage points vs 03-2025 05-2025: 0.7%▼ -1.5 percentage points vs 04-2025 06-2025: 0.7%● unchanged vs 05-2025lowest value 07-2025: 0.7%● unchanged vs 06-2025 08-2025: 0.9%▲ +0.2 percentage points vs 07-2025 09-2025: 0.9%● unchanged vs 08-2025 10-2025: 0.9%● unchanged vs 09-2025 11-2025: 0.9%● unchanged vs 10-2025 12-2025: 0.9%● unchanged vs 11-2025 01-2026: 0.9%● unchanged vs 12-2025 02-2026: 0.9%● unchanged vs 01-2026 03-2026: 0.9%● unchanged vs 02-2026 04-2026: 0.9%● unchanged vs 03-2026 05-2026: 0.9%● unchanged vs 04-2026 06-2026: 0.9%● unchanged vs 05-2026 07-2026: 0.9%● unchanged vs 06-2026 08-2026: 2.4%▲ +1.5 percentage points vs 07-2026highest value 09-2026: 2.4%● unchanged vs 08-2026highest value 10-2026: 2.4%● unchanged vs 09-2026highest value 11-2026: 2.4%● unchanged vs 10-2026highest value

Credit of up to €8,000 on 30-day terms is acceptable

Liquidity is insufficient, with a current ratio of 0.67 (2.35 in 2024), below 1. Short-term debt is 80.2% and cash 18.1% of total assets. 80.2% of the assets are financed with debt and provisions.

Calculation

The band follows from the bankruptcy probability. 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 43, micro). It does better than 22% of them on solvency, 17% on liquidity, 9% on profitability and 10% on growth.

The bankruptcy probability was computed on 03-11-2026 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. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).

Credit check for an amount and term of your choice

Show the recommended maximum and see how the verdict changes with amount, term and advance.

The scores and ratios are Checked's own calculations, not a credit decision.

Signals

Seven signals.

lowers riskraises riskneutral

Loss of €123,375, the second in a row (financial year 2025)

NBB · annual accounts

1 of the last 3 accounts late

NBB · filings

Sector: Specialised construction activities (NACE 43)

KBO

Liquidity: current ratio 0.67, cash €154,466

NBB · annual accounts

Persistent losses

Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.

NBB · annual accounts 2025

Net result per financial year

1819202122232425

2018 to 2025 · latest year -€123,375

Weak solvency compared with the sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 21% of 9898 sector peers (2025).

NBB · sector comparison

Position among 9898 sector peers

Solvency

better than 21%

← weakest strongest →

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-07-2026, 3 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

3 days early

2024

29 days early

2023

252 days late

2022

30 days late

2021

31 days late

2020

34 days late

2019

27 days late

← before the deadline after the deadline →

tick = median of all Belgian filingsring = median in the sector

The company filed its last 7 accounts on average 49 days after the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.

Searched, nothing found (2)

Next filing not due yet

The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 30 August (4 of the last 5 accounts filed within 59 days either side of that date).

Companies Code · seven months

Where today falls in the filing period

04-11-2026 today31-12-2026 year end31-07-2027 deadline

No strike-offs in the KBO publications

That holds for every publication since 2021.

KBO publications

Financials

Financials · financial year 2025, abbreviated format

Annual accounts 2025 filed on 28-07-2026 at the NBB all 16 filings

Turnover

≈ €1.2m

Estimated: probably between €960,000 and €1.4m

Total assets

€852,379▲ 72.1%

2024 · €495,352

Net result

-€123,375▼ 147%

2024 · -€49,876

Working capital

-€225,003

2024 · €274,677

Multi-year overview

2018 to 2025, 8 financial years

Operating result

-€139,482

▼ 199% 2025

20182025

Net result

-€123,375

▼ 147% 2025

lowest quarter of the sector

20182025

Equity

€168,928

▼ 42.2% 2025

middle half of the sector

20182025

Total assets

€852,379

▲ 72.1% 2025

middle half of the sector

20182025

Debt

€683,452

▲ 237% 2025

20182025

Working capital

-€225,003

2025

lowest quarter of the sector

20182025

Solvency

19.8%

▼ 39.2pp 2025

lowest quarter of the sector

20182025

Current ratio

0.67

▼ 1.68 2025

lowest quarter of the sector

20182025

Return on assets (ROA)

-14.5%

▼ 4.4pp 2025

lowest quarter of the sector

20182025

Staff (FTE)

9.1

▼ 6.2% 2025

middle half of the sector

20182025

Every figure per financial year

Every figure with its change against the financial year before

favourable unfavourable

Line20182019202020212022202320242025

Operating result€0.4m-€0.4m▼ 1.4%€0.4m▲ 2.9%€0.2m▼ 47.2%€0.3m▲ 9.9%€0.2m▼ 36.7%-€0.05m-€0.1m▼ 199%

Net result€0.3m-€0.3m▼ 2.1%€0.3m▲ 8.8%€0.2m▼ 47.9%€0.2m▲ 9.6%€0.1m▼ 37.2%-€0.05m-€0.1m▼ 147%

Equity€0.3m-€0.3m▲ 1.3%€0.3m▼ 20.8%€0.03m▼ 86.8%€0.2m▲ 545%€0.3m▲ 53.1%€0.3m▼ 14.6%€0.2m▼ 42.2%

Total assets€0.7m-€0.9m▲ 19.9%€0.9m▲ 0.6%€0.8m▼ 10.2%€0.9m▲ 6.0%€1.0m▲ 17.6%€0.5m▼ 50.8%€0.9m▲ 72.1%

Debt€0.4m-€0.6m▲ 34.5%€0.6m▲ 13.2%€0.8m▲ 21.3%€0.6m▼ 18.2%€0.7m▲ 5.0%€0.2m▼ 69.4%€0.7m▲ 237%

Working capital€0.2m-€0.3m▲ 0.8%€0.1m▼ 43.3%-€0.03m€0.2m€0.3m▲ 72.8%€0.3m▼ 14.1%-€0.2m

Solvency43.9%-37.0%▼ 6.8pp29.2%▼ 7.9pp4.3%▼ 24.9pp26.1%▲ 21.8pp34.0%▲ 7.9pp59.0%▲ 25.0pp19.8%▼ 39.2pp

Current ratio1.60-1.45▼ 0.151.22▼ 0.220.97▼ 0.261.29▲ 0.331.48▲ 0.192.35▲ 0.870.67▼ 1.68

Return on assets (ROA)41.7%-34.0%▼ 7.7pp36.8%▲ 2.8pp21.3%▼ 15.4pp22.1%▲ 0.7pp11.8%▼ 10.3pp-10.1%▼ 21.9pp-14.5%▼ 4.4pp

Staff (FTE)1-1=5.7▲ 470%5.4▼ 5.3%5.7▲ 5.6%10▲ 75.4%9.7▼ 3.0%9.1▼ 6.2%

above within below The sector band is the middle half of the companies in Specialised construction activities (NACE 43). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.

The operating result for 2025 is a loss of €139,482, larger than the loss of €46,575 in 2024. It is the lowest result since 2021.

Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €852,379

46.2%

53.8%

Fixed assets €393,931 ▲ 22×

Current assets €458,448 ▼ 4.0%

Equity and liabilities €852,379

19.8%

80.2%

Equity €168,928 ▼ 42.2%

Debt €683,452 ▲ 237%

Debt's share of the balance-sheet total rises from 41.0% to 80.2%. Equity is lower and debt is higher.

Key figures and ratios

2025 value · change against 2024

EBITDA

-€131,788▼

2024 · -€34,983

Cash flow

-€115,681▼

2024 · -€38,284

Debt to equity

4.05▲

2024 · 0.69

ROE

-73.0%▼

2024 · -17.1%

Interest coverage

-13.10▼

2024 · -10.36

Debt ≤ 1 year

€683,452▲

2024 · €203,049

Income taxes

-€26,098▼

2024 · €0

Staff costs

€567,674▼

2024 · €635,092

Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Staff

social balance sheet

Item	31-12-2021	31-12-2022	31-12-2023	31-12-2024	31-12-2025
Employees at the balance-sheet date	6	5	9	9	9
full-time	6	5	9	9	9
part-time	-	0	0	0	0
in full-time equivalents	6	5	9	9	9
Average over the year, in full-time equivalents	5.4	5.7	10	9.7	9.1
On a permanent contract	6	5	9	9	9
Joined	2	4	9	2	1
Left	3	5	5	2	1
Training hours	-	-	-	-	0

Source: social balance sheet in the 2021 to 2025 annual accounts

Investments

fixed assets acquired

Item	2021	2022	2023	2024	2025
Tangible fixed assets	€4,380	-	-	-	€384,000
Financial fixed assets	-	€3,566	€2,182	€6,729	€0
Depreciation and write-downs of the year	€31,984	€24,603	€18,156	€11,592	€7,694

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Subsidies and aid

Flemish government

2023 to 2024 · 2 entries · €555 awarded · €555 paid

Year	Entries	Awarded	Paid
2024	1	€0	€54
2023	1	€555	€501

Schemes

Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)

2 entries · €555 · €555 paid · Fonds voor Innoveren en Ondernemen

Annual accounts

OverviewIncome statement Balance sheet Cash flow

Last 5 years All years

Filed annual accounts As filed with the NBB · 2025 against 2024 · 43 lines

Balance sheet Code20242025

Assets

Total assets20/58€495,352€852,379▲

Fixed assets21/28€17,625€393,931▲

Tangible fixed assets22/27€1,330€377,636▲

Furniture and vehicles24€1,330€377,636▲

Financial fixed assets28€16,296€16,296=

Current assets29/58€477,727€458,448▼

Amounts receivable within one year40/41€380,184€284,030▼

Trade receivables40€264,039€117,292▼

Other amounts receivable41€116,145€166,738▲

Cash at bank and in hand54/58€89,868€154,466▲

Deferred charges and accrued income490/1€7,674€19,952▲

Equity and liabilities

Total equity and liabilities10/49€495,352€852,379▲

Equity10/15€292,303€168,928▼

Contributions10/11€30,000€30,000=

Reserves13€262,303€138,928▼

Distributable reserves133€262,303€138,928▼

Amounts payable17/49€203,049€683,452▲

Amounts payable within one year42/48€203,049€683,452▲

Trade debts44€187,579€682,394▲

Suppliers440/4€187,579€682,394▲

Taxes, remuneration and social security45€15,289€877▼

Taxes450/3€5,850€0▼

Remuneration and social security454/9€9,439€877▼

Other amounts payable47/48€181€181=

Income statement Code20242025

Remuneration, social security and pensions62€635,092€567,674▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€11,592€7,694▼

Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€2,468

Other operating charges640/8€1,336€2,217▲

Gross operating margin9900€601,444€440,571▼

Operating profit (loss)9901-€46,575-€139,482▼

Financial income75/76B€75€70▼

Recurring financial income75€75€70▼

Financial charges65/66B€3,376€10,061▲

Recurring financial charges65€3,376€10,061▲

Profit (loss) for the period before taxes9903-€49,876-€149,473▼

Income taxes67/77€0-€26,098▼

Profit (loss) for the period9904-€49,876-€123,375▼

Profit (loss) for the period to be appropriated9905-€49,876-€123,375▼

Appropriation of the result

Profit (loss) to be appropriated9906-€49,876-€123,375▼

Transfer from equity791/2€49,876€123,375▲

Transfer to equity691/2€0-

To other reserves6921€0-

Social balance sheet

Average headcount (FTE)90879.79.1▼

The notes to these accounts have 11 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Source: Annual accounts 2025 at the NBB, filed on 28-07-2026.

Line	2018	2019	2020	2021	2022	2023	2024	2025	Change
Remuneration, social security and pensions62	-	-	-	€309,965	€348,155	€622,231	€635,092	€567,674	▼ 10.6%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630	€21,236	€31,022	€2,534	€31,984	€24,603	€18,156	€11,592	€7,694	▼ 33.6%
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4	-	-	-	-	-€1,082	€0	-	€2,468	-
Other operating charges640/8	-	-	-	€1,205	€7,174	€2,136	€1,336	€2,217	▲ 65.9%
Gross operating margin9900	€539,533	€535,277	€770,097	€580,443	€639,535	€807,619	€601,444	€440,571	▼ 26.7%
Operating profit (loss)9901	€442,746	€436,668	€449,346	€237,290	€260,685	€165,096	-€46,575	-€139,482	▼ 199%
Financial income75/76B	-	-	-	€225	€329	€551	€75	€70	▼ 6.9%
Recurring financial income75	€1,158	€2,652	€732	€225	€329	€551	€75	€70	▼ 6.9%
Financial charges65/66B	-	-	-	€2,900	€3,854	€2,029	€3,376	€10,061	▲ 198%
Recurring financial charges65	€45	€1,188	€4,612	€2,900	€3,854	€2,029	€3,376	€10,061	▲ 198%
Profit (loss) for the period before taxes9903	€443,859	€438,132	€445,467	€234,614	€257,160	€163,618	-€49,876	-€149,473	▼ 200%
Income taxes67/77	€133,225	€134,004	€114,694	€62,278	€68,309	€44,949	€0	-€26,098	-
Profit (loss) for the period9904	€310,634	€304,128	€330,773	€172,335	€188,852	€118,669	-€49,876	-€123,375	▼ 147%
Profit (loss) for the period to be appropriated9905	€310,634	€304,128	€330,773	€172,335	€188,852	€118,669	-€49,876	-€123,375	▼ 147%

Line	2018	2019	2020	2021	2022	2023	2024	2025	Change
Assets
Total assets20/58	€0.7m	€0.9m	€0.9m	€0.8m	€0.9m	€1.0m	€0.5m	€0.9m	▲ 72.1%
Fixed assets21/28	€0.08m	€0.08m	€0.1m	€0.06m	€0.04m	€0.02m	€0.02m	€0.4m	▲ 22×
Tangible fixed assets22/27	€0.02m	€0.03m	€0.08m	€0.06m	€0.03m	€0.01m	€0.001m	€0.4m	▲ 284×
Furniture and vehicles24	-	-	-	€0.06m	€0.03m	€0.01m	€0.001m	€0.4m	▲ 284×
Financial fixed assets28	€0.05m	€0.05m	€0.04m	€0.006m	€0.007m	€0.01m	€0.02m	€0.02m	=
Current assets29/58	€0.7m	€0.8m	€0.8m	€0.7m	€0.8m	€1.0m	€0.5m	€0.5m	▼ 4.0%
Amounts receivable within one year40/41	€0.4m	€0.4m	€0.4m	€0.4m	€0.4m	€0.4m	€0.4m	€0.3m	▼ 25.3%
Trade receivables40	-	-	-	€0.3m	€0.3m	€0.3m	€0.3m	€0.1m	▼ 55.6%
Other amounts receivable41	-	-	-	€0.06m	€0.08m	€0.1m	€0.1m	€0.2m	▲ 43.6%
Cash at bank and in hand54/58	€0.3m	€0.4m	€0.3m	€0.3m	€0.5m	€0.5m	€0.09m	€0.2m	▲ 71.9%
Deferred charges and accrued income490/1	-	-	-	€0.003m	€0	€0.004m	€0.008m	€0.02m	▲ 160%
Equity and liabilities
Total equity and liabilities10/49	€0.7m	€0.9m	€0.9m	€0.8m	€0.9m	€1.0m	€0.5m	€0.9m	▲ 72.1%
Equity10/15	€0.3m	€0.3m	€0.3m	€0.03m	€0.2m	€0.3m	€0.3m	€0.2m	▼ 42.2%
Contributions10/11	€0.03m	€0.03m	-	€0.03m	€0.03m	€0.03m	€0.03m	€0.03m	=
Reserves13	€0.3m	€0.3m	€0.2m	-	€0.2m	€0.3m	€0.3m	€0.1m	▼ 47.0%
Distributable reserves133	-	-	-	-	€0.2m	€0.3m	€0.3m	€0.1m	▼ 47.0%
Profit (loss) carried forward14	-	€0.004m	€0.005m	€0.002m	€0	-	-	-	-
Amounts payable17/49	€0.4m	€0.6m	€0.6m	€0.8m	€0.6m	€0.7m	€0.2m	€0.7m	▲ 237%
Amounts payable within one year42/48	€0.4m	€0.6m	€0.6m	€0.8m	€0.6m	€0.7m	€0.2m	€0.7m	▲ 237%
Trade debts44	€0.4m	€0.4m	€0.6m	€0.7m	€0.6m	€0.6m	€0.2m	€0.7m	▲ 264%
Suppliers440/4	-	-	-	€0.7m	€0.6m	€0.6m	€0.2m	€0.7m	▲ 264%
Advances received on contracts in progress46	-	-	-	€0.02m	€0.001m	€0	-	-	-
Taxes, remuneration and social security45	-	-	-	€0.07m	€0.009m	€0.02m	€0.02m	€0.001m	▼ 94.3%
Taxes450/3	-	-	-	€0.05m	€0.001m	€0.005m	€0.006m	€0	▼ 100%
Remuneration and social security454/9	-	-	-	€0.02m	€0.008m	€0.01m	€0.009m	€0.001m	▼ 90.7%
Other amounts payable47/48	-	-	-	€128	€0.001m	€106	€181	€181	=

Line	2018	2019	2020	2021	2022	2023	2024	2025	Change
Profit (loss) for the period9904	€310,634	€304,128	€330,773	€172,335	€188,852	€118,669	-€49,876	-€123,375	▼ 147%
+ Depreciation and write-downs630	€21,236	€31,022	€2,534	€31,984	€24,603	€18,156	€11,592	€7,694	▼ 33.6%
Operating cash flow (approximation)	€331,871	€335,151	€333,307	€204,319	€213,454	€136,825	-€38,284	-€115,681	▼ 202%
Investment in fixed assets (approximation)	-	-€33,217	-€42,706	€25,959	-€1,494	-€2,182	-€6,729	-€384,000	▼ 5,606%
Change in cash	-	€59,318	-€29,702	€4,607	€113,033	€88,341	-€459,022	€64,598	-

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

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Historical observation

In July 2024, 1,294 companies had the same profile as maKs has now. Two years later, 89.6% were still going and 4.1% had gone bankrupt.

Micro
10 to 20 years old
solvency 10 to 30%
a loss of 10% of the balance sheet or more

89.6% was still going

5.9% stopped otherwise

4.1% went bankrupt

Another 0.4% stopped without a precise date, possibly only after those two years.

That fits the bankruptcy probability of maKs itself: 2.4% within 12 months.

Test of the method

The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.

The companies in ten equal groups, from the lowest to the highest expected share
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%

A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.

This is an observation about 1,294 companies, not a prediction for maKs. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.

Latest 10 of 16 filings with the National Bank

Financial year	Type	Filed	Reference	Document
31-12-2025	abbreviated format	28-07-2026	2026-00373449	PDF
31-12-2024	abbreviated format	02-07-2025	2025-00223821	PDF
31-12-2023	abbreviated format	09-04-2025	2025-00069457	PDF
31-12-2022	abbreviated format	30-08-2023	2023-00413822	PDF
31-12-2021	abbreviated format	31-08-2022	2022-20392046	PDF
31-12-2020	abbreviated format	03-09-2021	2021-66400601	PDF
31-12-2019	abbreviated format	27-08-2020	2020-46000120	PDF
31-12-2018	abbreviated format	26-06-2019	2019-23600241	PDF
31-12-2017	abbreviated format	30-05-2018	2018-14600455	PDF
31-12-2016	abbreviated format	03-07-2017	2017-25600191	PDF

Show all 16 filings

Board & ownership

Directors

2 directors, 1 in day-to-day management, last change in 2025

Board 2

JELILO

Director (not named in the articles) · since 16-04-2024 · Legal entity · listed in the 2025 annual accounts, filed on 28-07-2026

Current

JL MANAGEMENT

Director (not named in the articles) · since 16-04-2024 · Legal entity · listed in the 2025 annual accounts, filed on 28-07-2026

Current

Day-to-day management 1

JL MANAGEMENT

Managing director · appointed in the act of 13-05-2024 · Legal entity

Current

Office holders in the KBO →

Owners and capital

Shareholders

1 owner

Chain of control

VERPOLA 100%
maKs

VERPOLAparent
Sourceaccounts VERPOLA 2025
Equity €2.1m Loss of €28,557 in 2025 (profit of €392,614 in 2024) Checked score 70

100%

Mandate history

8 people, 2 in office

All 8 In office 2 Ended 6

Board
Day-to-day management
began earlier

Mandates per person, with start and end dates
Name	Functions and periods
JELILO	Director (not named in the articles), appointed in the act of 13-05-2024, still in office
JL MANAGEMENT	Director (not named in the articles), appointed in the act of 13-05-2024, still in office Managing director, appointed in the act of 13-05-2024, still in office
Sam Ernalsteen	Director, until 28-04-2025
Samuel Ernalsteen	Director, appointed in the act of 02-01-2025, until 28-04-2025
planC	Statutory manager, until 13-05-2024 Director (not named in the articles), appointed in the act of 13-05-2024, until 21-11-2024
GHISTELINCK Carl Willy Laurent	Statutory manager, until 13-05-2024
GHISTELINCK Paco Christoffel René	Statutory manager, until 31-12-2023
Paco Ghistelinck	Statutory manager, until 31-12-2023

See the board, name and registered office on a given date →

Network & group

Connections & network

1 connected company

Depth

The connected companies are in the list below.

This company Company Director Shareholding +N: links not shown yet

Linked via shared directors

CFF

Shared corporate director

→

Timeline

Acts, filings and financial milestones

All 17Financial 3Gazette 4Filings 10

Deadline for the 2026 accounts: 31-07-2027

2026

28-07

NBB filing Annual accounts 2025 filedNBB

abbreviated format · 3 days before the deadline

2025

31-12

Financial Weakest financial yearnet -€123,375

The net result drops to -€123,375, the lowest from 2018 to 2025.

30-10

Gazette deed Resignation: Sam Ernalsteen (director)

Permanent representatives: BAKKER Jacob Willem and HAMELINK Jan6 points ▸

Board meeting, 05-06-2025
Director resignation, Sam Ernalsteen (director)
Board composition, JELILO (director)
Board composition, JL MANAGEMENT (director)
Permanent representative, BAKKER Jacob Willem
Permanent representative, HAMELINK Jan

Open the act in the Belgian Official Gazette

02-07

NBB filing Annual accounts 2024 filedPDF

abbreviated format · 29 days before the deadline

09-04

NBB filing Annual accounts 2023 filedPDF

abbreviated format · 252 days late

02-01

Gazette deed 1 director appointed, 1 director resigning

Resignation: PlanC BV (director) · Permanent representative: Carl Ghistelinck · Appointment: Samuel Ernalsteen (director)4 points ▸

General meeting, 21-11-2024
Director resignation, PlanC BV (director)
Permanent representative, Carl Ghistelinck
Director appointment, Samuel Ernalsteen (director)

Open the act in the Belgian Official Gazette

2024

13-05

Gazette deed 4 directors appointed, 4 directors resigning

Change of role: PLANC, from statutory manager to director · Resignations: GHISTELINCK Carl Willy Laurent, PACO GHISTELINCK and GHISTELINCK Paco Christoffel René · Appointments: JELILO (director) and JL MANAGEMENT (director)16 points ▸

General meeting, “eenparigheid van stemmen, buitengewone algemene vergadering van de aandeelhouders” (deed in Dutch)
Director resignation, PLANC (statutory manager)
Director resignation, GHISTELINCK Carl Willy Laurent (statutory manager)
Director resignation, PACO GHISTELINCK (statutory manager)
Director resignation, GHISTELINCK Paco Christoffel René (statutory manager)
Other provision, “uitoefening van hun mandaat, kwijting ontslagnemende zaakvoerders” (deed in Dutch)
Board rule, 3
Director appointment, PLANC (director (not named in the articles))
Permanent representative, GHISTELINCK Carl Willy Laurent
Director in office, GHISTELINCK Carl Willy Laurent (director (not named in the articles))
Director appointment, JELILO (director (not named in the articles))
Permanent representative, BAKKER Jacob Willem
The act holds 4 more points.

Open the act in the Belgian Official Gazette

2023

30-08

NBB filing Annual accounts 2022 filedPDF

abbreviated format · 30 days late

2022

31-12

Financial Equity above €200,000equity €223,509 ▲545%

With a profit in every financial year since 2018, equity grows to €223,509.

31-08

NBB filing Annual accounts 2021 filedPDF

abbreviated format · 31 days late

2021

03-09

NBB filing Annual accounts 2020 filedPDF

abbreviated format · 34 days late

2020

31-12

Financial Highest result from 2018 to 2025net €330,773 ▲8.8%

The operating result of €449,346 and the net result of €330,773 are both a record.

Show earlier events

27-08

NBB filing Annual accounts 2019 filedPDF

abbreviated format · 27 days late

2019

26-06

NBB filing Annual accounts 2018 filedPDF

abbreviated format · 35 days before the deadline

2018

30-05

NBB filing Annual accounts 2017 filedPDF

abbreviated format · 62 days before the deadline

2017

03-07

NBB filing Annual accounts 2016 filedPDF

abbreviated format · 28 days before the deadline

2009

27-02

Gazette deed IncorporationPDF

Show all 16 filings

Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.

Sources:Publications in the Belgian Official Gazette Filings with the National Bank

History

On 16 February 2009, maKs was incorporated.¹ Total assets went from €745,544 in 2018 to €852,379 in 2025 and headcount from 1 to 9.1 full-time equivalents.²

Company details

Register details

Identity

KBO record

Name maKs in Dutch

Enterprise number 0809.895.461

Legal form Private limited company

Status Active, normale toestand

Founded 16-02-2009

Entity type Legal entity

Registered office and establishments

Registered office Pathoekeweg 19/21, 8000 Brugge, Belgium

Establishment unit maKs, Pathoekeweg 19, 8000 Brugge since 17-03-2009 · unit number 2.176.778.483

Activities

NACEBEL 2025

VAT activities

43230 Insulation installation main activity

41001 General construction of residential buildings

68121 Development of residential building projects

68122 Development of non-residential building projects

Social security (RSZ) activities

43422 Screed work main activity

Codes under NACEBEL 2008

VAT activities

43291 Specialised construction activities main activity

41101 Real estate development

41102 Construction of residential and non-residential buildings

41201 General construction of buildings

Social security (RSZ) activities

43996 Specialised construction activities main activity

Joint committees 200 Aanvullend Paritair Comité voor de bedienden

124 Paritair Comité voor het bouwbedrijf annual accounts 2025

Invoicing and payment

VAT number BE 0809.895.461

E-invoicing via Peppol

Reachable via Peppol

Peppol ID 0208:0809895461

Registered 21-10-2026

Follow this company and you will hear the next morning if it leaves the Peppol register.

Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0809.895.461

Financial year and general meeting

Accounts at the NBB

Financial year end 31-12

Sites & property

Location

registered office establishment The establishment unit on the map

Buildings and parcels at the address

Ground area

1.8 ha

Building footprint

3,109 m²

Building volume

27,624 m³

Cadastral parcel	Region	Area	Buildings	Height / floors
31807I0039/00B000	Flanders	1.8 ha	1 · 3,109 m²	12.2 m · 3

Overview

Overview

Official details

Board and ownership

Financial position

Checked score

Signals

Financials

Financials · financial year 2025, abbreviated format

Staff

Investments

Subsidies and aid

Flemish government

Historical observation

Board & ownership

Directors

Board 2

Day-to-day management 1

Owners and capital

Shareholders

Owners 1

Mandate history

Network & group

Connections & network

Timeline

Acts, filings and financial milestones

History

Company details

Register details

Identity

Registered office and establishments

Activities

Invoicing and payment

Financial year and general meeting

Sites & property

Buildings and parcels at the address