MAZE
ActiveSummary
MAZE has been active since 2022 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €233,272 and a net result of €96,390. Equity has been growing by about 64% per year since 2023. Its solvency ranks better than 83% of 39,242 sector peers (NACE 70, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 08-04-2022 Normal situation
- Activity
- Business and other management consultancy NACE 70200and 2 others
- Establishment unit
- 2.330.595.640 9000 Gent, since 08-04-2022
- Financial year end
- 31 December
- Peppol
- Reachable since 31-10-2023
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.1%
- Gross margin
- €125,081
- ▲ 18.1%
- Turnover
- ≈ €210,000
- estimated
- Profit
- €96,390
- ▲ 23.1%
- Equity
- €233,272
- ▲ 70.4%
- Total assets
- €275,141
- ▲ 65.4%
Score breakdownraises risk1 change of registered office in 24 months2 of the last 3 accounts latelowers riskSector: Activities of head offices; management consultancy activities (NACE 70)Liquidity: current ratio 6.97, cash €125,937Show the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 70, micro). It does better than 86% of them on solvency, 92% on liquidity, 84% on profitability and 85% on growth.
The bankruptcy probability was computed on 01-11-2026 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).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 3 accounts on average 29 days after the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 29-06-2026 at the NBB all 3 filings
2023 to 2025, 3 financial years
The operating result for 2025 is 19% higher than in 2024 and the highest since 2023. It is the second rise in a row.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Activities of head offices; management consultancy activities (NACE 70). 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 dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio and return on assets (ROA).
Investments
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Tangible fixed assets | €2,620 | - | - |
| Intangible fixed assets | €4,116 | - | - |
| Financial fixed assets | €6,132 | - | - |
| Depreciation and write-downs of the year | €3,241 | €2,038 | €1,789 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2025 · 1 entry · €1,665 awarded · €1,665 paidComparable companies
These companies have the same main activity as MAZE: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €277,000 and €330,000, founded between 2022 and 2023.
| Company | Founded | Total assets | Equity | Gross margin | Net result | Financial year |
|---|---|---|---|---|---|---|
| MAZE Gent | 2022 | €275,141 | €233,272 | €125,081 | €96,390 | 2025 |
| Virginie De Brabandt Gent | 2022 | €329,785 | €238,141 | €135,575 | €109,388 | 2025 |
| QUINT Gent | 2022 | €308,654 | €260,789 | €102,781 | €81,892 | 2025 |
| STCS Gent | 2023 | €302,641 | €255,738 | €134,675 | €99,981 | 2025 |
| Mosi Nazareth-De Pinte | 2022 | €281,825 | €270,431 | €126,105 | €103,984 | 2025 |
| SMARTax Oudenaarde | 2022 | €277,204 | €147,029 | €125,160 | €85,737 | 2025 |
| TODEJO Beveren-Kruibeke-Zwijndrecht | 2022 | €296,118 | €3,091 | €129,541 | €89,091 | 2025 |
They were chosen from the 54,694 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Companies with the same profile, two years later
Historical observationIn July 2024, 39,278 companies had the same profile as MAZE has now. Two years later, 1.8% had gone bankrupt and 95.9% were still going.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
The bankruptcy probability of MAZE itself is lower: 0.1% within 12 months. It rests on far more data about MAZE than the profile alone.
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 39,278 companies, not a prediction for MAZE. 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.
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,241 | €2,038 | €1,789 | ▼ 12.2% |
| Other operating charges640/8 | €2,028 | €1,241 | €1,170 | ▼ 5.7% |
| Gross operating margin9900 | €76,863 | €105,917 | €125,081 | ▲ 18.1% |
| Operating profit (loss)9901 | €71,594 | €102,639 | €122,121 | ▲ 19.0% |
| Financial income75/76B | €0 | €668 | €2,699 | ▲ 304% |
| Recurring financial income75 | €0 | €668 | €2,699 | ▲ 304% |
| Financial charges65/66B | €2,005 | €2,233 | €1,455 | ▼ 34.8% |
| Recurring financial charges65 | €2,005 | €2,233 | €1,455 | ▼ 34.8% |
| Profit (loss) for the period before taxes9903 | €69,588 | €101,073 | €123,364 | ▲ 22.1% |
| Income taxes67/77 | €16,024 | €22,754 | €26,975 | ▲ 18.5% |
| Profit (loss) for the period9904 | €53,564 | €78,319 | €96,390 | ▲ 23.1% |
| Profit (loss) for the period to be appropriated9905 | €53,564 | €78,319 | €96,390 | ▲ 23.1% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €75,974 | €166,357 | €275,141 | ▲ 65.4% |
| Fixed assets21/28 | €10,697 | €2,527 | €737 | ▼ 70.8% |
| Intangible fixed assets21 | €2,495 | €1,123 | - | - |
| Tangible fixed assets22/27 | €2,069 | €1,403 | €737 | ▼ 47.5% |
| Furniture and vehicles24 | €2,069 | €1,403 | €737 | ▼ 47.5% |
| Financial fixed assets28 | €6,132 | - | - | - |
| Current assets29/58 | €65,277 | €163,831 | €274,404 | ▲ 67.5% |
| Amounts receivable after more than one year29 | - | €61,250 | €52,500 | ▼ 14.3% |
| Other amounts receivable291 | - | €61,250 | €52,500 | ▼ 14.3% |
| Amounts receivable within one year40/41 | €20,435 | €58,571 | €91,509 | ▲ 56.2% |
| Trade receivables40 | €11,441 | €41,025 | €46,014 | ▲ 12.2% |
| Other amounts receivable41 | €8,994 | €17,546 | €45,496 | ▲ 159% |
| Cash at bank and in hand54/58 | €43,637 | €40,304 | €125,937 | ▲ 212% |
| Deferred charges and accrued income490/1 | €1,206 | €3,706 | €4,457 | ▲ 20.3% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €75,974 | €166,357 | €275,141 | ▲ 65.4% |
| Equity10/15 | €58,564 | €136,883 | €233,272 | ▲ 70.4% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | = |
| Reserves13 | €53,564 | €131,883 | €228,272 | ▲ 73.1% |
| Distributable reserves133 | €53,564 | €131,883 | €228,272 | ▲ 73.1% |
| Amounts payable17/49 | €17,410 | €29,475 | €41,869 | ▲ 42.0% |
| Amounts payable within one year42/48 | €15,260 | €27,461 | €39,369 | ▲ 43.4% |
| Trade debts44 | €47 | €5,325 | €1,385 | ▼ 74.0% |
| Suppliers440/4 | €47 | €5,325 | €1,385 | ▼ 74.0% |
| Taxes, remuneration and social security45 | €13,513 | €22,136 | €37,984 | ▲ 71.6% |
| Taxes450/3 | €13,513 | €22,136 | €37,984 | ▲ 71.6% |
| Other amounts payable47/48 | €1,700 | - | - | - |
| Accrued charges and deferred income492/3 | €2,150 | €2,014 | €2,500 | ▲ 24.1% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €53,564 | €78,319 | €96,390 | ▲ 23.1% |
| + Depreciation and write-downs630 | €3,241 | €2,038 | €1,789 | ▼ 12.2% |
| Operating cash flow (approximation) | €56,805 | €80,357 | €98,179 | ▲ 22.2% |
| Investment in fixed assets (approximation) | - | €6,132 | €0 | ▼ 100% |
| Change in cash | - | -€3,333 | €85,633 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Board & ownership
Directors
Owners and capital
Owners
Articles of association
- Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
- “Alle procedure- en expertisekosten voor helft ten laste van overdrager en helft ten laste van koper(s),naar evenredigheid van verworven…”
- Statutory auditorA statutory auditor is a registered auditor who checks the annual accounts. Small companies need not have one. According to the deed, the legal criteria do not require one here.
- No statutory auditor
Articles of association, deed of 12-04-2022 (in Dutch)
Network & group
MAZE shares no director with another company.
Companies at the same address
1 other companyConnections & network
1 current directorThe network starts from the directors of MAZE. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
21-09
Gazette deed
Registered office moved within Gent2 points ▸
- General meeting, 28-08-2026
- Registered-office move, Barrestraat 9, 9000 Gent
12-04
Gazette deed
IncorporationAppointment: BAKKER Mees David (director) · Founder · Founding capital7 points ▸
- Founder, BAKKER Mees David
- Incorporation, “MAZE” (deed in Dutch)
- Founding capital, €5,000, mentioned 2 times in the deed
- Registered office clause, “9040 Sint-Amandsberg(Gent),Adolf Baeyensstraat 20” (deed in Dutch)
- Board rule, 1
- Director appointment, BAKKER Mees David (director)
- Pre-incorporation commitments, “takeover, alle verbintenissen en verplichtingen en alle activiteiten sinds 2022-04-01 in naam en voor rekening van vennootschap in oprichting” (deed in Dutch)
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
6 activities
- Uitvoeren van managementopdrachten;
- Het optreden als studie-,organisatie-,raadgevend en/of managementbureau inzake alle commerciële,juridische,financiële,administratieve en technische aangelegenheden,alsook in HR,informatica,public relations en communicatie; alle verrichtingen van projectmanagement en coördinatie; het voeren van de directie over andere ondernemingen;
- Uitvoeren van consultancy en advies-opdrachten in de meest ruime zin van het woord;
- Het ontwikkelen,kopen,verkopen,in licentie nemen of geven van octrooien,knowhow en aanverwante immateriële duurzame activa,alle -zelfs niet gebrevetteerde- kennis en technieken valoriseren;
- Het aanleggen,het oordeelkundig uitbouwen en beheren van een onroerend vermogen; alle verrichtingen met betrekking tot onroerende goederen en onroerende zakelijke rechten zoals de huurfinanciering van onroerend goederen aan derden,het aankopen,verkopen,ruilen,bouwen,verbouwen,onderhouden,verhuren,huren,verkavelen,prospecteren en uitbaten van onroerende goederen; de aan- en verkoop,huur en verhuur van roerende goederen betreffende de inrichting en uitrusting van onroerende goederen,alsmede alle handelingen die rechtstreeks of onrechtstreeks met dit doel in verband staan en die van aard zijn de opbrengst van de roerende goederen te bevorderen; alsmede zich borg stellen voor het goede verloop van verbintenissen,door derde personen aangegaan,die het genot zouden hebben van voormelde roerende en onroerende goederen.
- Het aanleggen,het oordeelkundig uitbouwen en beheren van een roerend vermogen; alle verrichtingen met betrekking tot roerende goederen en rechten,van welke aard ook,zoals het verwerven door inschrijving of aankoop,het beheren van aandelen,aandelenopties,obligaties,kasbons,afgeleide producten of andere roerende waarden,van welke vorm ook,uitgegeven door Belgische of buitenlandse emittenten.
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 44802B1400/00F000 | Flanders | 139 m² | 1 · 114 m² | 12.8 m · 4 |