MAQUA Frères
ActiveMAQUA Frères has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.14M and a net result of €69k. Equity remains stable across the filed fiscal years (±0.6% per year). Its solvency ranks better than 94% of 2176 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
85
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability76▲+2
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €95k at 30 days acceptable
Liquidity ample (current ratio 10.8 against 13.58 in 2024; short-term debt: 7.7% and cash: 66.3% of total assets), and 9% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Sector 41
higher
← 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
91%
Return on assets
5.5%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-08-2026, 27 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
27 d late
2024
13 d early
2023
27 d late
2022
39 d early
2021
16 d late
2020
26 d late
2019
26 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
22-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€69k▲ 23.2%
2024 · €56k
2018: €144k
2019: €106k
2020: €206k
2021: €162k
2022: €26k
2023: €77k
2024: €56k
2018 → 2025
Working capital
€944k▼ 2.2%
2024 · €965k
2018: €863k
2019: €960k
2020: €1.19M
2021: €917k
2022: €999k
2023: €1.01M
2024: €965k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.06M-€1.09M▲ 2.5%€1.16M▲ 7.1%€1.22M▲ 4.8%€1.14M▼ 6.1%
Operating result€223k-€36k▼ 83.7%€111k▲ 205%€76k▼ 31.0%€88k▲ 15.4%
Net result€162k-€26k▼ 83.6%€77k▲ 192%€56k▼ 27.9%€69k▲ 23.2%
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 15% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.26M
Fixed assets
€217k▼ 25.2%
Current assets
€1.04M▼ 0.2%
Equity and liabilities €1.26M
Equity
€1.14M▼ 6.1%
Debt
€113k▼ 0.8%
The debt ratio rises from 8.5% to 9.0%. Equity and debt are lower.
Key figures and ratios
EBITDA
€155k▲
2024 · €144k
Cash flow
€135k▲
2024 · €124k
Solvency
91.0%▼
2024 · 91.5%
Current ratio
10.80▼
2024 · 13.58
Quick ratio
10.77▼
2024 · 13.54
Debt / equity
0.10▲
2024 · 0.09
ROE
6.0%▲
2024 · 4.6%
ROA
5.5%▲
2024 · 4.2%
Interest coverage
57.91▲
2024 · 46.36
Debt
€113k▼
2024 · €114k
Debt ≤ 1 year
€96k▲
2024 · €77k
Debt > 1 year
€17k▼
2024 · €37k
Income taxes
€26k▲
2024 · €22k
Staff costs
€143k▼
2024 · €214k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€1.33M€1.26M▼
Fixed assets21/28€290k€217k▼
Tangible fixed assets22/27€290k€217k▼
Land and buildings22€97k€96k▼
Plant, machinery and equipment23€50k€36k▼
Furniture and vehicles24€144k€85k▼
Current assets29/58€1.04M€1.04M▼
Stocks and contracts in progress3€3k€2k▼
Stocks30/36€3k€2k▼
Amounts receivable within one year40/41€197k€193k▼
Trade receivables40€167k€139k▼
Other amounts receivable41€30k€54k▲
Cash at bank and in hand54/58€838k€834k▼
Deferred charges and accrued income490/1€5k€11k▲
Equity and liabilities
Total equity and liabilities10/49€1.33M€1.26M▼
Equity10/15€1.22M€1.14M▼
Contributions10/11€8k€8k=
Reserves13€1.09M€1.01M▼
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€1.09M€1.01M▼
Profit (loss) carried forward14€123k€124k▲
Amounts payable17/49€114k€113k▼
Amounts payable after more than one year17€37k€17k▼
Financial debts170/4€35k€14k▼
Other amounts payable178/9€2k€2k=
Amounts payable within one year42/48€77k€96k▲
Current portion of amounts payable after more than one year42€20k€20k▲
Trade debts44€14k€7k▼
Suppliers440/4€14k€7k▼
Taxes, remuneration and social security45€35k€68k▲
Taxes450/3€19k€56k▲
Remuneration and social security454/9€17k€12k▼
Other amounts payable47/48€7k€622▼
Income statement
Code20242025
Remuneration, social security and pensions62€214k€143k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€68k€67k▼
Other operating charges640/8€6k€7k▲
Gross operating margin9900€364k€305k▼
Operating profit (loss)9901€76k€88k▲
Financial income75/76B€5k€9k▲
Recurring financial income75€5k€9k▲
Financial charges65/66B€3k€3k▼
Recurring financial charges65€3k€3k▼
Profit (loss) for the period before taxes9903€78k€95k▲
Income taxes67/77€22k€26k▲
Profit (loss) for the period9904€56k€69k▲
Profit (loss) for the period to be appropriated9905€56k€69k▲
Appropriation of the result
Profit (loss) to be appropriated9906€178k€192k▲
Profit (loss) brought forward from the previous period14P€122k€123k▲
Transfer from equity791/2-€143k
Transfer to equity691/2€55k€68k▲
To other reserves6921€55k€68k▲
Profit to be distributed694/7-€143k
Return on contributions (dividend)694-€143k
Social balance
Average headcount (FTE)90873.73.3▼
The notes to these accounts (12 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
27-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 27 days late
2025
18-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
27-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 27 days late
2023
22-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Weakest financial yearnet €26k ▼83.6%
Net result drops to €26k, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity triplescurrent ratio 11.31
Current ratio from 4.45 to 11.31; short-term debt falls from €266k to €97k.
16-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 16 days late
2021
26-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 26 days late
2020
31-12
Financial
Highest result since 2018net €206k ▲94.4%
Operating result €269k, net result €206k, both a record.
26-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 26 days late
2019
26-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 26 days late
2018
12-12
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 134 days late
2017
28-11
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 120 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
4 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, Bouillon · 3 establishment units since 1994
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Rue du Faucon,Curfoz 246832 BouillonGround area
5,559 m²
Building footprint
721 m²
Volume, LiDAR
2,820 m³
3 parcels, Wallonia · tallest building 11.7 m, ±3 floors. Linked by address, not a title deed.
3 establishment units
Rue du Faucon,Curfoz 24, 6832 Bouillon
since 19942.065.269.857
Rue de la Gare,Noirefontaine 5, 6831 Bouillon
since 19942.252.082.355
Rue Saint-Lambert,Sensenruth 36, 6832 Bouillon
since 20132.252.082.256
3 parcels
Wallonia
3
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 84044D0500/00E004 | Wallonia | 3,015 m² | 1 · 146 m² | 11.7 m · 3 fl. |
| 84062A0478/00P000 | Wallonia | 1,444 m² | 1 · 422 m² | 4.6 m · 1 fl. |
| 84062B0136/00P000 | Wallonia | 1,100 m² | 1 · 153 m² | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 2
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Recognised contractor
7 categoriesMAQUA Frères SRL23818
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BOUWBEDRIJF HUSTINGS
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SEMPELS KOEN BOUWBEDRIJF
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VIOMAT
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Of 29,801 companies in sector 41001 we hold annual accounts for 16,045. 5,921 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded24-12-1993
Fiscal year end31-12
Activities, NACEBEL
41001General construction of residential buildings
43990Other specialised construction activities
43999Specialised construction activities
45211
45250
01410Raising of dairy cattle
02012
02200Logging
42110Construction of roads and motorways
43110Demolition
43350Other building finishing work
45111
45230
81300Landscape service activities
Sources
Crossroads Bank for EnterprisesNational Bank · 32 filingsAddress and cadastre registers
Data from official sources, last processed on 22-09-2026. Scores and ratios are computed by Checked and are not a credit decision.