MAY-GROUP
ActiveSummary
MAY-GROUP has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €399k and a net result of €-8k. Equity is growing by ~3.7% per year across the filed fiscal years. Its solvency ranks better than 45% of 231 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability65▼-9
Solvency67▼-26
Growth52=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days acceptable
Liquidity ample (current ratio 2.07 against 3.86 in 2023; short-term debt: 25.7% and cash: 9.4% of total assets), but 58.2% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 13
Relative position
BE, all sectors
reference
Manufacture of textiles (NACE 13)
about 62% 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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
41.8%
Return on assets
-0.8%
Age of the figures
21 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 19-09-2025, 50 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
not confirmed
2024
50 d late
2023
29 d late
2022
28 d late
2021
158 d late
2020
153 d late
2019
382 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, abbreviated schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€399k▼ 2.0%
2023 · €407k
Total assets
€953k▲ 59.7%
2023 · €597k
Net result
€-8k
2023 · €27k
Working capital
€261k▼ 40.6%
2023 · €439k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€18k▼ 89.7%€61k▲ 236%€105k▲ 70.2%€79k▼ 24.1%€11k▼ 85.5%
Net result€4k▼ 97.4%€18k▲ 317%€6k▼ 66.3%€27k▲ 338%€-8k
Equity€356k▲ 1.2%€374k▲ 5.0%€380k▲ 1.6%€407k▲ 7.0%€399k▼ 2.0%
Total assets€510k▲ 3.9%€642k▲ 25.9%€617k▼ 3.9%€597k▼ 3.3%€953k▲ 59.7%
Debt€131k▲ 12.7%€246k▲ 86.9%€237k▼ 3.6%€190k▼ 19.8%€554k▲ 192%
Working capital€347k▼ 8.3%€442k▲ 27.4%€439k▼ 0.5%€439k=€261k▼ 40.6%
Staff (FTE)13.4▲ 0.8%13.2▼ 1.5%13.1▼ 0.8%14.2▲ 8.4%12.7▼ 10.6%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2024 is 86% below 2023 and is the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €953k
Fixed assets
€447k ▲ 11,587%
Current assets
€506k ▼ 14.7%
Equity and liabilities €953k
Equity
€399k ▼ 2.0%
Debt
€554k ▲ 192%
Debt's share of the balance-sheet total rises from 31.8% to 58.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€68k▼
2023 · €80k
Cash flow
€49k▲
2023 · €27k
Current ratio
2.07▼
2023 · 3.86
Debt to equity
1.39▲
2023 · 0.47
ROE
-2.0%▼
2023 · 6.5%
ROA
-0.8%▼
2023 · 4.4%
Interest coverage
5.64▼
2023 · 69.54
Debt ≤ 1 year
€245k▲
2023 · €154k
Debt > 1 year
€310k▲
2023 · €36k
Income taxes
€11k▼
2023 · €52k
Staff costs
€567k▼
2023 · €616k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €389k | €533k | €616k | €567k | ▼ 7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €18k | €11k | €9k | €487 | €57k | ▲ 11,526% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | €-23k | - | - | - |
| Other operating charges640/8 | - | €5k | €10k | €11k | €5k | ▼ 56.1% |
| Gross operating margin9900 | €357k | €466k | €633k | €706k | €640k | ▼ 9.4% |
| Operating profit (loss)9901 | €18k | €61k | €105k | €79k | €11k | ▼ 85.5% |
| Financial income75/76B | - | - | €0 | €686 | €4k | ▲ 479% |
| Recurring financial income75 | - | - | €0 | €686 | €4k | ▲ 479% |
| Financial charges65/66B | - | €441 | €8k | €1k | €12k | ▲ 952% |
| Recurring financial charges65 | €4k | €441 | €8k | €1k | €12k | ▲ 952% |
| Profit (loss) for the period before taxes9903 | €14k | €61k | €97k | €79k | €3k | ▼ 95.7% |
| Income taxes67/77 | €10k | €43k | €91k | €52k | €11k | ▼ 78.3% |
| Profit (loss) for the period9904 | €4k | €18k | €6k | €27k | €-8k | ▼ 130% |
| Profit (loss) for the period to be appropriated9905 | €4k | €18k | €6k | €27k | €-8k | ▼ 130% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €510k | €642k | €617k | €597k | €953k | ▲ 59.7% |
| Fixed assets21/28 | €63k | €21k | €7k | €4k | €447k | ▲ 11,587% |
| Tangible fixed assets22/27 | €59k | €17k | €3k | - | €447k | - |
| Land and buildings22 | - | - | - | - | €447k | - |
| Furniture and vehicles24 | - | €11k | €3k | - | - | - |
| Other tangible fixed assets26 | - | €7k | - | - | - | - |
| Financial fixed assets28 | €4k | €4k | €4k | €4k | - | - |
| Current assets29/58 | €447k | €621k | €610k | €593k | €506k | ▼ 14.7% |
| Amounts receivable within one year40/41 | €390k | €512k | €463k | €438k | €411k | ▼ 6.1% |
| Trade receivables40 | - | €165k | €233k | €176k | €175k | ▼ 0.4% |
| Other amounts receivable41 | - | €347k | €230k | €262k | €236k | ▼ 10.0% |
| Cash at bank and in hand54/58 | €57k | €109k | €147k | €151k | €90k | ▼ 40.6% |
| Deferred charges and accrued income490/1 | - | - | - | €4k | €5k | ▲ 32.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €510k | €642k | €617k | €597k | €953k | ▲ 59.7% |
| Equity10/15 | €356k | €374k | €380k | €407k | €399k | ▼ 2.0% |
| Contributions10/11 | - | €19k | €19k | €19k | €19k | = |
| Reserves13 | €108k | €108k | €108k | €108k | €108k | = |
| Non-distributable reserves130/1 | - | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | - | €2k | €2k | €2k | €2k | = |
| Distributable reserves133 | - | €107k | €107k | €107k | €107k | = |
| Profit (loss) carried forward14 | €229k | €247k | €253k | €280k | €272k | ▼ 2.8% |
| Provisions and deferred taxes16 | €23k | €23k | - | - | - | - |
| Provisions for liabilities and charges160/5 | - | €23k | - | - | - | - |
| Environmental obligations163 | - | €23k | - | - | - | - |
| Amounts payable17/49 | €131k | €246k | €237k | €190k | €554k | ▲ 192% |
| Amounts payable after more than one year17 | €31k | €66k | €66k | €36k | €310k | ▲ 751% |
| Financial debts170/4 | - | €66k | €66k | €36k | €310k | ▲ 751% |
| Amounts payable within one year42/48 | €100k | €179k | €170k | €154k | €245k | ▲ 59.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €31k | - |
| Trade debts44 | €69k | €122k | €96k | €61k | €10k | ▼ 84.5% |
| Suppliers440/4 | - | €122k | €96k | €61k | €10k | ▼ 84.5% |
| Taxes, remuneration and social security45 | - | €57k | €75k | €92k | €43k | ▼ 53.0% |
| Taxes450/3 | - | €19k | €22k | €24k | €3k | ▼ 85.9% |
| Remuneration and social security454/9 | - | €38k | €53k | €68k | €40k | ▼ 41.5% |
| Other amounts payable47/48 | - | - | - | - | €161k | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €4k | €18k | €6k | €27k | €-8k | ▼ 130% |
| + Depreciation and write-downs630 | €18k | €11k | €9k | €487 | €57k | ▲ 11,526% |
| Operating cash flow (approximation) | €23k | €29k | €15k | €27k | €49k | ▲ 80.2% |
| Investment in fixed assets (approximation) | - | €31k | €6k | €3k | €-500k | ▼ 17,654% |
| Change in cash | - | €52k | €38k | €4k | €-61k | ▼ 1,606% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
More with these figures Sector benchmark What changed Value indication
Timeline · acts, filings and financial milestones
2025
19-09
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 50 days late
2024
31-12
Financial
Weakest financial yearnet €-8k
Net result drops to €-8k, the lowest in the series.
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 29 days late
2023
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 28 days late
05-01
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 158 days late
2021
31-12
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 153 days late
17-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 382 days late
2020
10-11
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 468 days late
2019
31-12
Financial
Highest result since 2018net €166k ▲182%
Operating result €178k, net result €166k, both a record.
31-12
Financial
Liquidity doublescurrent ratio 5.43
Current ratio from 2.25 to 5.43; short-term debt falls from €166k to €85k.
31-12
Financial
Equity above €200kEq €352k ▲89.2%
2 profitable years in a row build equity to €352k.
2018
27-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 27 days late
2017
29-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 60 days late
2016
27-10
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 88 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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, Brussel · 1 establishment unit since 2008
Ground area
1,145 m²
Building footprint
918 m²
Volume, LiDAR
20,826 m³
2 parcels, Brussels, Flanders · tallest building 44.0 m, ±8 floors. Linked by address, not a title deed.
232
companies at this address
See who is registered here
1 establishment unit
May Group
since 20082.193.699.837
2 parcels
Flanders
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21805E0534/00D000 | Brussels | 1,027 m² | 1 · 800 m² | 44.0 m · 8 fl. |
| 11803C0862/00B000 | Flanders | 118 m² | 1 · 118 m² | 19.7 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 598 companies in sector 13929 we hold annual accounts for 236. 179 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded30-01-2008
Fiscal year end31-12
Activities, NACEBEL 2025
13929
47716Retail sale of clothing and accessories for women, men, children and babies (general range)
Scores and ratios are computed by Checked and are not a credit decision.