Malines Group
ActiveSummary
Malines Group has been active since 2000 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €267,418 and a net result of €33,862. Equity is growing by ~42.3% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability41▲+21
Solvency51▲+13
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €18,000 at 30 days acceptable
Liquidity ample (current ratio 2.77 against 4.75 in 2023; short-term debt: 31.4% and cash: 35.9% of total assets), but 74.4% of the assets are financed with debt.
Credit check for your own amount and term
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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 25-06-2026, 36 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
36 d early
2024
50 d early
2023
34 d early
2022
38 d early
2021
62 d early
2020
54 d early
2019
35 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 44 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% 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 23 June (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2024, abbreviated schema
Equity
€267,418▲ 14.5%
2023 · €233,555
Total assets
€1.0m▼ 40.9%
2023 · €1.8m
Net result
€33,862
2023 · -€28,323
Working capital
€580,641▼ 54.3%
2023 · €1.3m
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€42,421▼ 28.9%€294,986▲ 595%€155,197▼ 47.4%-€21,438€86,002
Net result€17,595within the sector's middle half€202,242above the sector's middle half▲ 1,049%€110,825within the sector's middle half▼ 45.2%-€28,323below the sector's middle half€33,862within the sector's middle half
Equity-€45,851below the sector's middle half▲ 27.7%€156,391within the sector's middle half€261,878within the sector's middle half▲ 67.5%€233,555within the sector's middle half▼ 10.8%€267,418within the sector's middle half▲ 14.5%
Total assets€975,874within the sector's middle half▼ 11.5%€784,964within the sector's middle half▼ 19.6%€1.0mwithin the sector's middle half▲ 27.5%€1.8mwithin the sector's middle half▲ 76.9%€1.0mwithin the sector's middle half▼ 40.9%
Debt€1.0m▼ 12.4%€628,573▼ 38.5%€739,071▲ 17.6%€1.5m▲ 108%€778,522▼ 49.4%
Working capital€32,153within the sector's middle half€440,252within the sector's middle half▲ 1,269%€694,491above the sector's middle half▲ 57.7%€1.3mabove the sector's middle half▲ 83.0%€580,641above the sector's middle half▼ 54.3%
Solvency-4.7%below the sector's middle half▲ 1.1pp19.9%within the sector's middle half▲ 24.6pp26.2%within the sector's middle half▲ 6.2pp13.2%within the sector's middle half▼ 13.0pp25.6%within the sector's middle half▲ 12.4pp
Current ratio1.04within the sector's middle half▲ 0.052.43within the sector's middle half▲ 1.403.64above the sector's middle half▲ 1.214.75above the sector's middle half▲ 1.112.77within the sector's middle half▼ 1.98
Return on assets (ROA)1.8%within the sector's middle half▲ 2.2pp25.8%above the sector's middle half▲ 24.0pp11.1%above the sector's middle half▼ 14.7pp-1.6%below the sector's middle half▼ 12.7pp3.2%within the sector's middle half▲ 4.8pp
Staff (FTE)4.4within the sector's middle half▼ 2.2%3within the sector's middle half▼ 31.8%3.1within the sector's middle half▲ 3.3%3.9above the sector's middle half▲ 25.8%3.9above the sector's middle half=
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €86,002 after a loss of €21,438 in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.0m
Fixed assets
€137,306 ▼ 14.9%
Current assets
€908,633 ▼ 43.6%
Equity and liabilities €1.0m
Equity
€267,418 ▲ 14.5%
Debt
€778,522 ▼ 49.4%
Debt's share of the balance-sheet total falls from 86.8% to 74.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€116,772▲
2023 · €6,801
Cash flow
€64,632▲
2023 · -€85
Debt to equity
2.91▼
2023 · 6.58
ROE
12.7%▲
2023 · -12.1%
Interest coverage
2.23▲
2023 · 0.36
Debt ≤ 1 year
€327,992▼
2023 · €338,686
Debt > 1 year
€142,462▼
2023 · €1.0m
Income taxes
€14,710▲
2023 · €863
Staff costs
€218,153▼
2023 · €229,299
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,984 companies that looked in July 2024 the way this one looks now, 1.1% went bankrupt within 24 months and 97% are still going.
- Micro
- 20 years or older
- solvency 10 to 30%
- a profit under 5% of the balance sheet
1.1%
went bankrupt
2.3%
stopped otherwise
97%
still going
For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,340 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% | 1.0% |
| 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% 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 3,984 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €33,739 | €8,005 | €7,141 | €1,258 | ▼ 82.4% |
| Remuneration, social security and pensions62 | - | €182,131 | €185,392 | €229,299 | €218,153 | ▼ 4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €18,167 | €13,880 | €17,909 | €28,238 | €30,770 | ▲ 9.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €0 | - | - | - | - |
| Other operating charges640/8 | - | €7,640 | €4,738 | €6,605 | €5,505 | ▼ 16.7% |
| Non-recurring operating charges66A | - | €17,555 | €7,930 | €0 | - | - |
| Gross operating margin9900 | €330,569 | €516,192 | €371,167 | €242,704 | €340,429 | ▲ 40.3% |
| Operating profit (loss)9901 | €42,421 | €294,986 | €155,197 | -€21,438 | €86,002 | ▲ 501% |
| Financial income75/76B | - | €12,978 | €7,537 | €12,637 | €14,999 | ▲ 18.7% |
| Recurring financial income75 | €591 | €12,978 | €7,537 | €12,637 | €14,999 | ▲ 18.7% |
| Financial charges65/66B | - | €54,944 | €1,395 | €18,660 | €52,429 | ▲ 181% |
| Recurring financial charges65 | €24,318 | €54,944 | €1,395 | €18,660 | €52,429 | ▲ 181% |
| Profit (loss) for the period before taxes9903 | €18,694 | €253,021 | €161,338 | -€27,460 | €48,572 | ▲ 277% |
| Income taxes67/77 | €1,100 | €50,779 | €50,514 | €863 | €14,710 | ▲ 1,604% |
| Profit (loss) for the period9904 | €17,595 | €202,242 | €110,825 | -€28,323 | €33,862 | ▲ 220% |
| Profit (loss) for the period to be appropriated9905 | €17,595 | €202,242 | €110,825 | -€28,323 | €33,862 | ▲ 220% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €975,874 | €784,964 | €1.0m | €1.8m | €1.0m | ▼ 40.9% |
| Fixed assets21/28 | €41,996 | €37,071 | €43,200 | €161,332 | €137,306 | ▼ 14.9% |
| Intangible fixed assets21 | - | - | €3,455 | €11,058 | €8,237 | ▼ 25.5% |
| Tangible fixed assets22/27 | €31,079 | €24,154 | €34,828 | €145,357 | €124,152 | ▼ 14.6% |
| Land and buildings22 | - | €16,169 | €9,936 | €2,607 | €2,045 | ▼ 21.5% |
| Plant, machinery and equipment23 | - | €1,970 | €0 | €4,045 | €3,807 | ▼ 5.9% |
| Furniture and vehicles24 | - | €6,015 | €24,891 | €31,854 | €21,296 | ▼ 33.1% |
| Other tangible fixed assets26 | - | - | - | €106,851 | €97,004 | ▼ 9.2% |
| Financial fixed assets28 | €10,917 | €12,917 | €4,917 | €4,917 | €4,917 | = |
| Current assets29/58 | €933,878 | €747,893 | €957,749 | €1.6m | €908,633 | ▼ 43.6% |
| Amounts receivable after more than one year29 | - | €15,000 | €278,750 | €274,799 | €302,874 | ▲ 10.2% |
| Other amounts receivable291 | - | €15,000 | €278,750 | €274,799 | €302,874 | ▲ 10.2% |
| Stocks and contracts in progress3 | - | €15,696 | €221,720 | €845,196 | €0 | ▼ 100% |
| Stocks30/36 | - | €15,696 | €221,720 | €845,196 | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €568,652 | €497,533 | €198,644 | €229,947 | €189,930 | ▼ 17.4% |
| Trade receivables40 | - | €109,236 | €136,144 | €152,447 | €144,517 | ▼ 5.2% |
| Other amounts receivable41 | - | €388,298 | €62,500 | €77,500 | €45,413 | ▼ 41.4% |
| Cash at bank and in hand54/58 | €67,901 | €212,317 | €250,038 | €239,030 | €375,832 | ▲ 57.2% |
| Deferred charges and accrued income490/1 | - | €7,347 | €8,598 | €20,775 | €39,996 | ▲ 92.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €975,874 | €784,964 | €1.0m | €1.8m | €1.0m | ▼ 40.9% |
| Equity10/15 | -€45,851 | €156,391 | €261,878 | €233,555 | €267,418 | ▲ 14.5% |
| Contributions10/11 | €62,500 | €62,500 | €62,500 | €62,500 | €62,500 | = |
| Capital10 | - | €62,500 | €62,500 | €62,500 | €62,500 | = |
| Issued capital100 | - | €62,500 | €62,500 | €62,500 | €62,500 | = |
| Reserves13 | €6,250 | €93,891 | €199,378 | €171,055 | €204,918 | ▲ 19.8% |
| Non-distributable reserves130/1 | - | €6,250 | €6,250 | €6,250 | €6,250 | = |
| Legal reserve130 | - | €6,250 | €6,250 | €6,250 | €6,250 | = |
| Distributable reserves133 | - | €87,641 | €193,128 | €164,805 | €198,668 | ▲ 20.5% |
| Profit (loss) carried forward14 | -€114,601 | €0 | - | - | - | - |
| Amounts payable17/49 | €1.0m | €628,573 | €739,071 | €1.5m | €778,522 | ▼ 49.4% |
| Amounts payable after more than one year17 | €120,000 | €120,000 | €425,138 | €1.0m | €142,462 | ▼ 86.2% |
| Financial debts170/4 | - | €120,000 | €425,138 | €1.0m | €142,462 | ▼ 86.2% |
| Amounts payable within one year42/48 | €901,725 | €307,641 | €263,258 | €338,686 | €327,992 | ▼ 3.2% |
| Current portion of amounts payable after more than one year42 | - | - | €3,272 | €25,418 | €24,923 | ▼ 1.9% |
| Financial debts43 | - | €60,000 | €10,033 | €10,135 | €0 | ▼ 100% |
| Credit institutions430/8 | - | €60,000 | €10,033 | €10,135 | €0 | ▼ 100% |
| Trade debts44 | €155,093 | €129,547 | €132,282 | €176,453 | €147,631 | ▼ 16.3% |
| Suppliers440/4 | - | €129,547 | €132,282 | €176,453 | €147,631 | ▼ 16.3% |
| Advances received on contracts in progress46 | - | - | €128 | €0 | - | - |
| Taxes, remuneration and social security45 | - | €118,095 | €116,521 | €126,262 | €155,291 | ▲ 23.0% |
| Taxes450/3 | - | €92,724 | €97,249 | €101,841 | €132,316 | ▲ 29.9% |
| Remuneration and social security454/9 | - | €25,371 | €19,272 | €24,421 | €22,975 | ▼ 5.9% |
| Other amounts payable47/48 | - | €0 | €1,023 | €417 | €148 | ▼ 64.5% |
| Accrued charges and deferred income492/3 | - | €200,932 | €50,675 | €165,183 | €308,067 | ▲ 86.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €17,595 | €202,242 | €110,825 | -€28,323 | €33,862 | ▲ 220% |
| + Depreciation and write-downs630 | €18,167 | €13,880 | €17,909 | €28,238 | €30,770 | ▲ 9.0% |
| Operating cash flow (approximation) | €35,761 | €216,122 | €128,734 | -€85 | €64,632 | ▲ 76,435% |
| Investment in fixed assets (approximation) | - | -€8,955 | -€24,038 | -€146,371 | -€6,744 | ▲ 95.4% |
| Change in cash | - | €144,415 | €37,721 | -€11,008 | €136,803 | ▲ 1,343% |
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
25-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
11-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Back to profitnet €33,862
Net result €33,862 after one loss-making year.
27-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
23-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Equity above €200,000Eq €261,878 ▲67.5%
3 profitable years in a row build equity to €261,878.
30-05
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Highest result since 2018net €202,242 ▲1,049%
Operating result €294,986, net result €202,242, both a record.
31-12
Financial
Liquidity doublescurrent ratio 2.43
Current ratio from 1.04 to 2.43; short-term debt falls from €901,725 to €307,641.
31-12
Financial
Equity above €150,000Eq €156,391
2 profitable years in a row build equity to €156,391.
07-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Back to profitnet €17,595
Net result €17,595 after 2 loss-making years.
Show earlier events
26-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
28-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
27-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
17-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 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
8 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, Mechelen · 1 establishment unit since 2000
Ground area
615 m²
Building footprint
165 m²
Volume, LiDAR
1,195 m³
Parcel 12404G0323/00V002, Flanders · tallest building 11.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Malines Group
since 20002.099.691.001
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12404G0323/00V002 | Flanders | 615 m² | 1 · 165 m² | 11.3 m · 2 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
Owners and holdings
1 owner · 1 holdingChain of control
- BUTCH HOLDING
- Malines Group
Highest known parent: BUTCH HOLDING. The sources do not say who stands above it.
Owners 1
- BUTCH HOLDINGparent99.98%
Holdings 1
-
80%
According to the 2021 annual accounts of Malines Group 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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 4 entries · 9,246 EUR awarded · 9,996 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 2,700 EUR | 2,700 EUR |
| 2024 | 1 | 3,126 EUR | 3,126 EUR |
| 2023 | 1 | 2,250 EUR | 3,000 EUR |
| 2022 | 1 | 1,170 EUR | 1,170 EUR |
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Of 11,755 companies in sector 68310 we hold annual accounts for 6,912. 5,039 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
Founded10-03-2000
Fiscal year end31-12
Activities, NACEBEL 2025
68310Real estate agency activities
68121Development of residential building projects
68122Development of non-residential building projects
E-invoicing
Reachable via Peppol
Peppol ID
0208:0471403865
Also
9925:BE0471403865
Registered
24-11-2023
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.