Equity
€1.1m ▼ 6.1%
MAQUA Frères paid out €142,900 in dividends. That is 208% of the 2025 profit.
MAQUA Frères
Lifetime
18 annual accounts with figures on one time axis, 32 filings since 1994peak €616,300 (2015)
€304,532▼ 16.4%
peak €253,710 (2015)
€68,742▲ 23.2%
peak €1.4m (2020)
€1.1m▼ 6.1%
€113,000▼ 0.8%
peak 11 FTE (2013)
3.3 FTE▼ 10.8%
Board2 names since 2020
2 directorsRENAULT Marie and 1 other
Documentsfilings and deeds
27-08-202627 days late
2025abbreviated format
Gross margin from €364,411 to €304,532Staff from 3.7 FTE to 3.3 FTEDividend €142,900
Key points
from the 2025 annual accountsChecked score
96
Excellent
Financially stronger than 68% of micro companies in construction of buildings (NACE 41)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
< 0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 1.5% across 13,457 companies (NACE 41, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: < 0.1%
01-2025: < 0.1%● unchanged vs 12-2024
02-2025: < 0.1%● unchanged vs 01-2025
03-2025: < 0.1%● unchanged vs 02-2025
04-2025: < 0.1%● unchanged vs 03-2025
05-2025: < 0.1%● unchanged vs 04-2025
06-2025: < 0.1%● unchanged vs 05-2025
07-2025: < 0.1%● unchanged vs 06-2025
08-2025: < 0.1%● unchanged vs 07-2025
09-2025: < 0.1%● unchanged vs 08-2025
10-2025: < 0.1%● unchanged vs 09-2025
11-2025: < 0.1%● unchanged vs 10-2025
12-2025: < 0.1%● unchanged vs 11-2025
01-2026: < 0.1%● unchanged vs 12-2025
02-2026: < 0.1%● unchanged vs 01-2026
03-2026: < 0.1%● unchanged vs 02-2026
04-2026: < 0.1%● unchanged vs 03-2026lowest value
05-2026: < 0.1%● unchanged vs 04-2026
06-2026: < 0.1%● unchanged vs 05-2026
07-2026: < 0.1%● unchanged vs 06-2026
08-2026: 0.1%▲ +0.1 percentage points vs 07-2026highest value
09-2026: < 0.1%▼ -0.1 percentage points vs 08-2026
10-2026: < 0.1%● unchanged vs 09-2026
11-2026: < 0.1%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
raises risk
Sector: Construction of residential and non-residential buildings (NACE 41)
lowers risk
Liquidity: current ratio 10.80, cash €833,954
Equity €1.1m (91.0% of total assets)
Founded in 1993
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 41, micro). It does better than 92% of them on solvency, 99% on liquidity, 53% on profitability and 28% on growth.
The bankruptcy probability was computed on 06-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
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).
Comparable companies, two years later
In July 2024, 31,368 companies had the same profile as MAQUA Frères has now. Each dot stands for 79 companies, two years later.
93.5%
were still trading
5.9%
stopped another way
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MAQUA Frères itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,447 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 31,368 companies, not a prediction for MAQUA Frères. 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.
Credit verdict
Credit of up to €100,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 10.8 (13.58 in 2024), above the usual 1.5. Short-term debt is 7.7% and cash 66.3% of total assets. 9% of the assets are financed with debt and provisions.
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
Five signals.
lowers riskraises risk
raises risk · 2025 accounts filed 27 days late
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. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
27 days late
2024
13 days early
2023
27 days late
2022
39 days early
2021
16 days late
2020
26 days late
2019
26 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 10 days after the deadline. In the sector (NACE 41), the median for financial year 2024 was on the deadline day, and 46% 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. The company usually files around 16 August (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
07-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0451625466
Amendment of the articles · Legal-form change · Resignations & appointments
Legal-form conversion: to private limited company · Board composition: MAQUA Pascal (director) · Board composition: RENAULT Marie-Paule (director) · General meeting of 21-11-2023 · Gazette deed
Appointment: RENAULT Marie (director)
General meeting of 03-11-2020 · Gazette deed
New establishment in Bouillon
Rue Saint-Lambert,Sensenruth 36
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| MAQUA Frères Bouillon | €1.3m | €304,532 | 91.0% | 3.3 |
| MEGA - MAT Heusden-Zolder | €1.4m | €333,516 | 65.9% | 2.9 |
| Bouwonderneming ASSELMAN Haaltert | €1.4m | €246,588 | 30.6% | 3.7 |
| BENOIT GUISSARD Vaux-sur-Sûre | €1.2m | €323,508 | 33.9% | 1.9 |
| QASEM CONSTRUCTION Virton | €1.1m | €427,786 | 84.6% | 4.3 |
| DE WILDE F. Grobbendonk | €1.2m | €330,454 | 22.9% | 4.4 |
| LOUIS DAMMEN Balen | €1.1m | €308,901 | 46.5% | 4.4 |
These companies have the same main activity as MAQUA Frères: general construction of residential buildings (NACE 41001). They are comparable in size and age: total assets between €1.1m and €1.4m, founded between 1990 and 2000.
Official details
Source: KBO- Status
- Active since 24-12-1993Normal situation
- Activity
- General construction of residential buildingsNACE 41001and 6 others
- Establishment units
- 2.065.269.8576832 Bouillon, since 24-01-1994
- 2.252.082.3556831 Bouillon, since 01-02-1994and 1 other
- Financial year end
- 31 December
- Peppol
- Reachable since 12-05-2026
Annual accounts 2025
- ≈ €650,000estimated
- €1.3m▼ 5.6%
- Employeeson 31-12-2025
- 3▼ 25.0%
- Filing
- Filed on 27-08-2026
Insights on MAQUA Frères
MAQUA Frères files the abbreviated format. That format states no turnover. The gross margin rose from €292,374 in 2008 to €304,532 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about MAQUA Frères
- What is the company number of MAQUA Frères?
- The company number of MAQUA Frères is 0451.625.466. The VAT number is the same number with BE in front: BE 0451.625.466.
- Where is MAQUA Frères based?
- The registered office is at Rue du Faucon,Curfoz 24, 6832 Bouillon.Company details
- What does MAQUA Frères do?
- According to the KBO register, the main activity is general construction of residential buildings (NACE 41001).
- What is the legal form of MAQUA Frères?
- MAQUA Frères is a private limited company (BV).
- When was MAQUA Frères founded?
- MAQUA Frères was founded on 24-12-1993.
- Is MAQUA Frères still active?
- Yes, MAQUA Frères is an active enterprise in the KBO register.
- How many employees does MAQUA Frères have?
- MAQUA Frères had an average of 3.3 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- What is the turnover of MAQUA Frères?
- The turnover in financial year 2025 is ≈ €650,000. This figure is estimated from the gross margin of €304,532 and 30 comparable companies (NACE 41001). It probably lies between €520,000 and €960,000.
- Is MAQUA Frères profitable?
- In financial year 2025, MAQUA Frères made a profit of €68,742.
- Where can I find the annual accounts of MAQUA Frères?
- MAQUA Frères filed 32 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of MAQUA Frères due?
- MAQUA Frères must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can trust this company with building work.Contractor check Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Check which of your other customers you can e-invoice via Peppol.Peppol check Compare this company with its sector.Sector benchmark
See how customers, suppliers and banks see your own company and what to improve first.