MALS
ActiveSummary
The computed 12-month bankruptcy probability of MALS is 1.7% (moderate). The 2025 annual accounts show equity of €22,894 and a net result of €52,479. Its solvency ranks better than 24% of 1,902 sector peers (NACE 10, financial year 2025). The company has been active since 2023 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 22-06-2023 Normal situation
- Activity
- Manufacture of food products NACE 10130and 6 others
- Joint committee
- 201 Paritair Comité voor de zelfstandige kleinhandel · annual accounts 2025
- Establishment unit
- 2.346.314.489 8647 Lo-Reninge, since 22-06-2023
- Financial year end
- 31 December
- Peppol
- Reachable since 11-06-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- 1.7%
Annual accounts 2025
- Gross margin
- €195,809
- ▲ 59×
- Turnover
- ≈ €490,000
- estimated
- Profit
- €52,479
- Equity
- €22,894
- Total assets
- €773,126
- ▼ 6.8%
- Employees on 31-12-2025
- 6
- ▲ 500%
Score breakdownraises riskSector: Manufacture of food products (NACE 10)Founded in 2023Equity €22,894 (3.0% of total assets)lowers riskSize: total assets €773,126Show the evidence
Checked score
Score 2025
56
/ 100
Fair
Probability in this band: 1.5% to 4.2%
Financially stronger than 59% of micro companies in food products (NACE 10)
Financial strength · tick: 2024
Average
Solvency
28+8
equity 3.0% of total assets
Liquidity
56-1
short-term debt 7.0% · cash 5.2%
Profitability
77+66
return on assets 6.8%
Bankruptcy probability within 12 months
1.7%
Moderate
0%0.5%1.5%4%10%≥ 25%
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 4.6%
01-2025: 4.6%● unchanged vs 12-2024
02-2025: 5.0%▲ +0.4 percentage points vs 01-2025
03-2025: 4.8%▼ -0.2 percentage points vs 02-2025
04-2025: 4.8%● unchanged vs 03-2025
05-2025: 5.1%▲ +0.3 percentage points vs 04-2025
06-2025: 5.2%▲ +0.1 percentage points vs 05-2025
07-2025: 5.3%▲ +0.1 percentage points vs 06-2025highest value
08-2025: 2.1%▼ -3.2 percentage points vs 07-2025
09-2025: 2.1%● unchanged vs 08-2025
10-2025: 2.1%● unchanged vs 09-2025
11-2025: 2.1%● unchanged vs 10-2025
12-2025: 2.1%● unchanged vs 11-2025
01-2026: 2.1%● unchanged vs 12-2025
02-2026: 2.1%● unchanged vs 01-2026
03-2026: 2.1%● unchanged vs 02-2026
04-2026: 2.2%▲ +0.1 percentage points vs 03-2026
05-2026: 1.7%▼ -0.5 percentage points vs 04-2026lowest value
06-2026: 1.7%● unchanged vs 05-2026lowest value
07-2026: 1.7%● unchanged vs 06-2026lowest value
08-2026: 1.7%● unchanged vs 07-2026lowest value
09-2026: 1.7%● unchanged vs 08-2026
10-2026: 1.7%● unchanged vs 09-2026
11-2026: 1.7%● unchanged vs 10-2026
Credit of up to €1,000 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.22 (0.75 in 2024), below the usual 1.5. Short-term debt is 7% and cash 5.2% of total assets. 97% 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 10, micro). It does better than 21% of them on solvency, 60% on liquidity, 61% on profitability and 95% 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
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 24% of 1902 sector peers (2025).
NBB · sector comparisonPosition among 1902 sector peers
Solvency
better than 24%
← weakest
strongest →
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 26-03-2026, 127 days ahead of the deadline.
NBB · 2 filingsDeviation from the deadline
2025
127 days early
2024
28 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 2 accounts on average 78 days before the deadline. In the sector (NACE 10), the median for financial year 2024 was 4 days before the deadline, and 38% of those companies filed late.
Searched, nothing found (2)
neutral · 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.
Companies Code · seven monthsWhere today falls in the filing period
04-11-2026 today31-12-2026 year end31-07-2027 deadline
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 26-03-2026 PDF all 2 filings
Turnover
≈ €490,000
Estimated: probably between €330,000 and €760,000
Total assets
€773,126▼ 6.8%
2024 · €829,407
Net result
€52,479
2024 · -€50,379
Working capital
€12,085
2024 · -€39,022
Multi-year overview
2024 to 2025, 2 financial yearsOperating result
€70,217
2025
20242025
Net result
€52,479
2025
highest quarter of the sector
20242025
Equity
€22,894
2025
middle half of the sector
20242025
Total assets
€773,126
▼ 6.8%
2025
highest quarter of the sector
20242025
Debt
€750,232
▼ 13.7%
2025
20242025
Working capital
€12,085
2025
middle half of the sector
20242025
Solvency
3.0%
▲ 7.8pp
2025
lowest quarter of the sector
20242025
Current ratio
1.22
▲ 0.47
2025
middle half of the sector
20242025
Return on assets (ROA)
6.8%
▲ 12.9pp
2025
middle half of the sector
20242025
Staff (FTE)
6.8
▲ 34×
2025
20242025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20242025
Operating result-€35,159-€70,217
Net result-€50,379below the sector's middle half-€52,479above the sector's middle half
Equity-€40,379below the sector's middle half-€22,894within the sector's middle half
Total assets€829,407above the sector's middle half-€773,126above the sector's middle half▼ 6.8%
Debt€869,787-€750,232▼ 13.7%
Working capital-€39,022below the sector's middle half-€12,085within the sector's middle half
Solvency-4.9%below the sector's middle half-3.0%below the sector's middle half▲ 7.8pp
Current ratio0.75within the sector's middle half-1.22within the sector's middle half▲ 0.47
Return on assets (ROA)-6.1%below the sector's middle half-6.8%within the sector's middle half▲ 12.9pp
Staff (FTE)0.2-6.8▲ 34×
above
within
below
The sector band is the middle half of the companies in Manufacture of food products (NACE 10). 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 profit of €70,217, after a loss of €35,159 in 2024.
Turnover and EBIT margin are not published. The micro 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 €773,126
Fixed assets
€706,607 ▼ 1.0%
Current assets
€66,519 ▼ 42.5%
Equity and liabilities €773,126
Equity
€22,894
Debt
€750,232
Debt's share of the balance-sheet total is 97.0%.
Key figures and ratios
EBITDA
€129,091▲
2024 · -€1,887
Cash flow
€111,353▲
2024 · -€17,107
Quick ratio
0.81▲
2024 · 0.59
Debt to equity
32.77
ROE
229.2%
Interest coverage
7.02▲
2024 · -0.12
Debt ≤ 1 year
€54,433▼
2024 · €154,800
Debt > 1 year
€695,068▼
2024 · €714,874
Income taxes
€132▼
2024 · €190
Staff costs
€65,903▲
2024 · €3,143
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2024 | 31-12-2025 |
|---|---|---|
| Employees at the balance-sheet date | 1 | 6 |
| full-time | 0 | 4 |
| part-time | 1 | 2 |
| in full-time equivalents | 0.7 | 5.5 |
| Average over the year, in full-time equivalents | 0.2 | 6.8 |
| On a permanent contract | 1 | 6 |
| Joined | 2 | 15 |
| Left | 1 | 10 |
| Training hours | - | 0 |
Source: social balance sheet in the 2024 to 2025 annual accounts
Securities and guarantees
| Item | 2024 | 2025 |
|---|---|---|
| Mortgage mandates | €435,000 | €435,000 |
| Carrying value of the mortgaged assets | €558,758 | €579,536 |
| Pledge on the business | €50,000 | €50,000 |
Source: notes to the 2024 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2024 | 2025 |
|---|---|---|
| Tangible fixed assets | €741,347 | €51,852 |
| Financial fixed assets | €2,000 | €0 |
| Depreciation and write-downs of the year | €33,272 | €58,874 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2023 to 2025 · 2 entries · €15,409 awarded · €13,054 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €13,925 | €11,570 |
| 2023 | 1 | €1,484 | €1,484 |
Annual accounts
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Remuneration, social security and pensions62 | €3,143 | €65,903 | ▲ 21× |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €33,272 | €58,874 | ▲ 76.9% |
| Other operating charges640/8 | €2,053 | €815 | ▼ 60.3% |
| Gross operating margin9900 | €3,310 | €195,809 | ▲ 59× |
| Operating profit (loss)9901 | -€35,159 | €70,217 | - |
| Financial income75/76B | €307 | €776 | ▲ 153% |
| Recurring financial income75 | €307 | €776 | ▲ 153% |
| Financial charges65/66B | €15,338 | €18,382 | ▲ 19.8% |
| Recurring financial charges65 | €15,338 | €18,382 | ▲ 19.8% |
| Profit (loss) for the period before taxes9903 | -€50,189 | €52,611 | - |
| Income taxes67/77 | €190 | €132 | ▼ 30.6% |
| Profit (loss) for the period9904 | -€50,379 | €52,479 | - |
| Profit (loss) for the period to be appropriated9905 | -€50,379 | €52,479 | - |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €829,407 | €773,126 | ▼ 6.8% |
| Fixed assets21/28 | €713,629 | €706,607 | ▼ 1.0% |
| Tangible fixed assets22/27 | €711,629 | €704,607 | ▼ 1.0% |
| Land and buildings22 | €558,758 | €579,536 | ▲ 3.7% |
| Plant, machinery and equipment23 | €136,003 | €118,176 | ▼ 13.1% |
| Furniture and vehicles24 | €16,868 | €6,895 | ▼ 59.1% |
| Financial fixed assets28 | €2,000 | €2,000 | = |
| Current assets29/58 | €115,779 | €66,519 | ▼ 42.5% |
| Stocks and contracts in progress3 | €24,526 | €22,638 | ▼ 7.7% |
| Stocks30/36 | €24,526 | €22,638 | ▼ 7.7% |
| Amounts receivable within one year40/41 | €8,692 | €2,897 | ▼ 66.7% |
| Trade receivables40 | €1,311 | €642 | ▼ 51.0% |
| Other amounts receivable41 | €7,381 | €2,255 | ▼ 69.4% |
| Cash at bank and in hand54/58 | €80,420 | €39,822 | ▼ 50.5% |
| Deferred charges and accrued income490/1 | €2,141 | €1,162 | ▼ 45.7% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €829,407 | €773,126 | ▼ 6.8% |
| Equity10/15 | -€40,379 | €22,894 | - |
| Contributions10/11 | €10,000 | €10,000 | = |
| Profit (loss) carried forward14 | -€50,379 | €2,100 | - |
| Investment grants15 | - | €10,794 | - |
| Amounts payable17/49 | €869,787 | €750,232 | ▼ 13.7% |
| Amounts payable after more than one year17 | €714,874 | €695,068 | ▼ 2.8% |
| Financial debts170/4 | €409,874 | €390,068 | ▼ 4.8% |
| Other amounts payable178/9 | €305,000 | €305,000 | = |
| Amounts payable within one year42/48 | €154,800 | €54,433 | ▼ 64.8% |
| Current portion of amounts payable after more than one year42 | €18,978 | €19,806 | ▲ 4.4% |
| Trade debts44 | €127,823 | €19,405 | ▼ 84.8% |
| Suppliers440/4 | €127,823 | €19,405 | ▼ 84.8% |
| Taxes, remuneration and social security45 | €3,297 | €11,494 | ▲ 249% |
| Taxes450/3 | €601 | €639 | ▲ 6.4% |
| Remuneration and social security454/9 | €2,696 | €10,855 | ▲ 303% |
| Other amounts payable47/48 | €4,703 | €3,728 | ▼ 20.7% |
| Accrued charges and deferred income492/3 | €113 | €731 | ▲ 549% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | -€50,379 | €52,479 | - |
| + Depreciation and write-downs630 | €33,272 | €58,874 | ▲ 76.9% |
| Operating cash flow (approximation) | -€17,107 | €111,353 | - |
| Investment in fixed assets (approximation) | - | -€51,852 | - |
| Change in cash | - | -€40,598 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 2,157 companies had the same profile as MALS has now. Two years later, 94.1% were still going and 3.0% had gone bankrupt.
- Micro
- 2 to 5 years old
- solvency under 10%
- a profit of 5% of the balance sheet or more
94.1%
was still going
2.8%
stopped otherwise
3.0%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MALS itself: 1.7% 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.
| 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 2,157 companies, not a prediction for MALS. 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.
Board & ownership
Directors
Directors
2 directors, no change since 2023
FONTEYNE Marie Cecile
Current
Director (not named in the articles) · appointed in the act of 26-06-2023 · term without a fixed end · listed in the 2025 annual accounts, filed on 26-03-2026
VANDAMME Niels
Current
Director (not named in the articles) · appointed in the act of 26-06-2023 · term without a fixed end · listed in the 2025 annual accounts, filed on 26-03-2026
Signing authorityThe articles say who may bind the company, for example by signing a contract.
“Indien de vennootschap door meer dan één bestuurders wordt bestuurd, mag iedere bestuurder, alleen optredend, alle handelingen stellen die…”
deed of 26-06-2023Owners and capital
Shareholders
At incorporation
act of 26-06-2023 ↗
- VANDAMME Niels 50 shares (50%) · €5,000 in cash
- FONTEYNE Marie 50 shares (50%) · €5,000
- FONTEYNE Marie Cecile 50 shares · €5,000 in cash
Capital transactions
Capital over time
- 26-06-2023 Incorporation · €10,000 · 100 shares
Mandate history
2 people, 2 in office
- Board
| Name | Functions and periods |
|---|---|
| FONTEYNE Marie Cecile |
|
| VANDAMME Niels |
|
Network & group
MALS shares no director with another company.
Companies at the same address
1 other companyConnections & network
2 current directorsThe network starts from the directors of MALS. Every other company they run is a node.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
26-03
micro format · 127 days before the deadline
2025
31-12
Financial
Back to profitnet €52,479
The net result is €52,479, after one loss-making year.
03-07
micro format · 28 days before the deadline
2023
26-06
Gazette deed
IncorporationStarting capital €10,000 · Appointments: VANDAMME Niels (director) and FONTEYNE Marie Cecile (director) · Capital contribution11 points ▸
Gazette deed
Incorporation
Starting capital €10,000 · Appointments: VANDAMME Niels (director) and FONTEYNE Marie Cecile (director) · Capital contribution11 points ▸
- Founding capital, €10,000
- Capital contribution, €5,000, mentioned 2 times in the deed
- Bank account, “Crelan, bijzondere rekening geopend namens vennootschap in oprichting” (deed in Dutch)
- Board rule, 2
- Director appointment, VANDAMME Niels (director (not named in the articles))
- Director appointment, FONTEYNE Marie Cecile (director (not named in the articles))
- Pre-incorporation commitments, “takeover, alle verbintenissen en verplichtingen en alle activiteiten in naam en voor rekening van de vennootschap in oprichting” (deed in Dutch)
- Incorporation, “MALS” (deed in Dutch)
- Founder, VANDAMME Niels
- Founder, FONTEYNE Marie Cecile
- Other provision, “echtgenoten en samenwoning, echtgenote,samen wonende te 8647 Lo-Reninge,Blauwvoet 2” (deed in Dutch)
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
MALS in Dutch
Enterprise number
0803.071.314
Legal form
Private limited company
Status
Active, normale toestand
Founded
22-06-2023
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 26-06-2023 (in Dutch)Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Vlaamse Gewest, Ooststraat 23,8647 Lo-Reninge”
deed of 26-06-2023 (in Dutch)Registered office and establishments
Registered office
Ooststraat 23, 8647 Lo-Reninge, Belgium
Establishment unit
MALS, Ooststraat 23, 8647 Lo-Reninge since 22-06-2023 · unit number 2.346.314.489
Activities
NACEBEL 2025VAT activities
10130
Manufacture of food products main activity
10850
Manufacture of food products
47221
Retail sale of meat and meat products, excluding game and poultry
47222
Retail trade
47271
Retail trade
47279
Other retail sale of food
56210
Event catering
Social security (RSZ) activities
47221
Retail sale of meat and meat products, excluding game and poultry main activity
Codes under NACEBEL 2008
VAT activities
10130
Manufacture of food products main activity
10850
Manufacture of food products
47221
Retail trade
47222
Retail trade
47291
Retail trade
47299
Retail trade
Social security (RSZ) activities
47221
Retail trade main activity
Joint committee
201 Paritair Comité voor de zelfstandige kleinhandel annual accounts 2025
Invoicing and payment
VAT number
BE 0803.071.314
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Last Wednesday of June at 10:00
deed of 26-06-2023 (in Dutch)Recognitions · licences · registrations
Food safety, FASFC
1 siteLo-Reningeunit number 2.346.314.489
Sites & property
Location
Buildings and parcels at the address
Ground area
1,949 m²
Building footprint
174 m²
Building volume
1,683 m³
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 32014C0552/02M005 | Flanders | 1,949 m² | 1 · 174 m² | 13.5 m · 3 |