MAAAT
ActiveSummary
MAAAT has been active since 1968 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €11.28M and a net result of €1.79M. Equity remains stable across the filed fiscal years (±1.6% per year). Its solvency ranks better than 71% of 387 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is < 0.1% (very low).
Checked score
Score 2025
89
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability89▲+14
Solvency97▲+1
Growth74▲+9
Track record100
Bankruptcy probability, 12 months
< 0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €360k at 30 days acceptable
Liquidity ample (current ratio 3.45 against 2.5 in 2024; short-term debt: 12.3% and cash: 11.9% of total assets), and 28.2% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 88
Relative position
BE, all sectors
reference
Sector 88
lower
← 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
71.8%
Return on assets
11.4%
Age of the figures
9 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €11.28M
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 12-06-2026, 49 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
49 d early
2024
50 d early
2023
51 d early
2022
38 d early
2021
59 d early
2020
64 d early
2019
52 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
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
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
€3.65M▼ 12.2%
2024 · €4.15M
2018: €1.90M
2019: €1.97M
2020: €2.02M
2021: €3.14M
2022: €3.87M
2023: €3.85M
2024: €4.15M
2018 → 2025
EBIT margin
48.7%▲ 47.1pp
2024 · 1.6%
2018: 4.2%
2019: -33.4%
2020: -21.8%
2021: 2.3%
2022: 2.8%
2023: 2.0%
2024: 1.6%
2018 → 2025
Net result
€1.79M▲ 2,047%
2024 · €83k
2018: €63k
2019: €-640k
2020: €-502k
2021: €286k
2022: €84k
2023: €278k
2024: €83k
2018 → 2025
Working capital
€4.71M▲ 113%
2024 · €2.21M
2018: €8.35M
2019: €5.53M
2020: €4.75M
2021: €3.59M
2022: €3.59M
2023: €2.84M
2024: €2.21M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€3.14M-€3.87M▲ 23.0%€3.85M▼ 0.5%€4.15M▲ 7.9%€3.65M▼ 12.2%
Equity€9.08M-€9.20M▲ 1.3%€9.46M▲ 2.8%€9.50M▲ 0.5%€11.28M▲ 18.7%
Operating result€73k-€106k▲ 46.6%€75k▼ 29.4%€68k▼ 9.8%€1.78M▲ 2,521%
Net result€286k-€84k▼ 70.6%€278k▲ 231%€83k▼ 70.1%€1.79M▲ 2,047%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 2,521% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €15.70M
Fixed assets
€9.07M ▼ 6.3%
Current assets
€6.64M ▲ 79.9%
Equity and liabilities €15.70M
Equity
€11.28M ▲ 18.7%
Provisions
€24k =
Debt
€4.40M ▲ 14.5%
Debt's share of the balance-sheet total falls from 28.7% to 28.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€2.28M▲
2024 · €670k
Cash flow
€2.29M▲
2024 · €685k
Current ratio
3.45▲
2024 · 2.50
Quick ratio
3.29▲
2024 · 2.29
Debt to equity
0.39▼
2024 · 0.40
ROE
15.8%▲
2024 · 0.9%
ROA
11.4%▲
2024 · 0.6%
Interest coverage
143.71▲
2024 · 39.03
Debt ≤ 1 year
€1.92M▲
2024 · €1.47M
Debt > 1 year
€2.10M▼
2024 · €2.29M
Income taxes
€10k▼
2024 · €11k
Staff costs
€6.44M▲
2024 · €6.20M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 78 lines
Balance sheet
Code20242025
Assets
Total assets20/58€13.37M€15.70M▲
Fixed assets21/28€9.68M€9.07M▼
Intangible fixed assets21€200k€145k▼
Tangible fixed assets22/27€9.48M€8.92M▼
Land and buildings22€7.18M€7.07M▼
Plant, machinery and equipment23€1.29M€806k▼
Furniture and vehicles24€166k€172k▲
Assets under construction and advance payments27€843k€874k▲
Financial fixed assets28€2k€2k▲
Other financial fixed assets284/8€2k€2k▲
Amounts receivable and cash guarantees285/8€2k€2k▲
Current assets29/58€3.69M€6.64M▲
Stocks and contracts in progress3€311k€312k▲
Stocks30/36€311k€312k▲
Raw materials and consumables30/31€265k€238k▼
Finished goods33€46k€73k▲
Amounts receivable within one year40/41€894k€768k▼
Trade receivables40€741k€669k▼
Other amounts receivable41€154k€99k▼
Current investments50/53€500k€3.50M▲
Cash at bank and in hand54/58€1.82M€1.87M▲
Deferred charges and accrued income490/1€167k€188k▲
Equity and liabilities
Total equity and liabilities10/49€13.37M€15.70M▲
Equity10/15€9.50M€11.28M▲
Contributions10/11€40k€40k=
Capital10€40k€40k=
Reserves13€8.55M€10.16M▲
Profit (loss) carried forward14€828k€1.00M▲
Investment grants15€83k€74k▼
Provisions and deferred taxes16€24k€24k=
Provisions for liabilities and charges160/5€24k€24k=
Major repairs and maintenance162€24k€24k=
Amounts payable17/49€3.84M€4.40M▲
Amounts payable after more than one year17€2.29M€2.10M▼
Financial debts170/4€2.29M€2.10M▼
Credit institutions173€2.29M€2.10M▼
Amounts payable within one year42/48€1.47M€1.92M▲
Current portion of amounts payable after more than one year42€194k€196k▲
Trade debts44€274k€562k▲
Suppliers440/4€274k€562k▲
Taxes, remuneration and social security45€1.01M€1.17M▲
Taxes450/3€154k€232k▲
Remuneration and social security454/9€852k€934k▲
Accrued charges and deferred income492/3€76k€379k▲
Income statement
Code20242025
Operating income70/76A€8.82M€10.88M▲
Turnover70€4.15M€3.65M▼
Change in stocks of work in progress, finished goods and contracts in progress71€-10k€28k▲
Other operating income74€486k€474k▼
Non-recurring operating income76A€46k€2.48M▲
Operating charges60/66A€8.75M€9.10M▲
Goods for resale, raw materials and consumables60€1.05M€839k▼
Purchases600/8€854k€813k▼
Change in stocks: decrease (increase)609€192k€27k▼
Services and other goods61€1.03M€963k▼
Remuneration, social security and pensions62€6.20M€6.44M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€602k€507k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€4k
Other operating charges640/8€30k€25k▼
Non-recurring operating charges66A-€323k
Operating profit (loss)9901€68k€1.78M▲
Financial income75/76B€45k€37k▼
Recurring financial income75€45k€37k▼
Income from current assets751€38k€35k▼
Other financial income752/9€6k€1k▼
Financial charges65/66B€18k€17k▼
Recurring financial charges65€18k€17k▼
Debt charges650€17k€16k▼
Other financial charges652/9€947€920▼
Profit (loss) for the period before taxes9903€94k€1.80M▲
Income taxes67/77€11k€10k▼
Taxes670/3€11k€10k▼
Profit (loss) for the period9904€83k€1.79M▲
Profit (loss) for the period to be appropriated9905€83k€1.79M▲
Appropriation of the result
Profit (loss) to be appropriated9906€850k€2.61M▲
Profit (loss) brought forward from the previous period14P€767k€828k▲
From contributions791-€193k
To contributions691€22k€1.81M▲
Social balance
Average headcount (FTE)9087184.5186.8▲
The notes to these accounts (76 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
07-08
State Gazette act
Resignations: Ockerman Dirk, Van Neck Elke and 6 othersReappointments: Ockerman Dirk, Van Neck Elke and 6 others · Appointment: Kiekens Philippe (chair)18 facts ▸
State Gazette act
Resignations: Ockerman Dirk, Van Neck Elke and 6 others
Reappointments: Ockerman Dirk, Van Neck Elke and 6 others · Appointment: Kiekens Philippe (chair)18 facts ▸
- General meeting, 09/06/2026
- Director resignation, Ockerman Dirk (director)
- Director resignation, Van Neck Elke (director)
- Director resignation, Verdoodt Geert (director)
- Director resignation, Van den Nest Isabelle (director)
- Director resignation, Buekens Jozef (director)
- Director resignation, Van der Biest Luc (director)
- Director resignation, Van den Eede Marc (director)
- Director resignation, Kiekens Philippe (director)
- Director reappointment, Ockerman Dirk (director)
- Director reappointment, Van Neck Elke (director)
- Director reappointment, Verdoodt Geert (director)
- +6 further facts in this act
12-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2018net €1.79M ▲2047%
Operating result €1.78M, net result €1.79M, both a record.
31-12
Financial
Equity above €10MEq €11.28M ▲18.7%
5 profitable years in a row build equity to €11.28M.
11-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
10-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
23-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
02-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Back to profitnet €286k
Net result €286k after 2 loss-making years.
28-05
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
09-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Weakest financial yearnet €-640k ▼1110%
Net result drops to €-640k, the lowest in the series; recovery starts the following year.
Show earlier events
03-05
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
27-04
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
27-04
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
under verification, no change since 2026
This board is reconstructed from a single act (26102173). A Gazette act generally publishes only CHANGES, not a full roll call, so directors unchanged since then may be missing here. The KBO register holds the complete list of function holders.
Buekens Jozef
CurrentDirector · since 09-06-2026
Kiekens Philippe
CurrentDirector · since 09-06-2026
Luc Van der Biest
CurrentDirector · since 09-06-2026
Ockerman Dirk
CurrentDirector · since 09-06-2026
Van den Eede Marc
CurrentDirector · since 09-06-2026
Van den Nest Isabelle
CurrentDirector · since 09-06-2026
2 other directors
Van Neck Elke
CurrentDirector · since 09-06-2026
Verdoodt Geert
CurrentDirector · since 09-06-2026
09-06-2026
Buekens Jozef: Reappointed as Director
09-06-2026
Kiekens Philippe: Reappointed as Director
09-06-2026
Kiekens Philippe: Appointed as Chair
09-06-2026
Luc Van der Biest: Reappointed as Director
09-06-2026
Ockerman Dirk: Reappointed as Director
Location & real-estate footprint
Registered office, Aalst · 1 establishment unit since 2006
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.
Wijngaardveld 79300 AalstGround area
3.0 ha
Parcel 41303D0103/00C000, Flanders. Linked by address, not a title deed.
1 establishment unit
MAAAT
since 20062.153.623.890
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41303D0103/00C000 | Flanders | 3.0 ha | - | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Connections & network
1 connected companyLinked via shared directors
via Luc Van der Biest · Director
→
Public money · subsidies and aid
Flemish government
2022 to 2025 · 20 entries · 14,400,805 EUR awarded · 14,344,689 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 4 | 3,916,101 EUR | 3,925,981 EUR |
| 2024 | 6 | 3,914,742 EUR | 3,891,816 EUR |
| 2023 | 5 | 3,460,834 EUR | 3,519,516 EUR |
| 2022 | 5 | 3,109,128 EUR | 3,007,376 EUR |
Schemes
Erkenning en subsidiëring als maatwerkafdeling
Open innovatie en strategische transformatie in de sociale economie
Vlaams opleidingsverlof (VOV)
Oproepen innovatie en starters
Call groene stroom (stopgezet)
Show 2 more
Managementadvies
Premie voor aankoop van een elektrische wagen of een wagen met brandstofcellen
Recognitions · licences · registrations
Food safety, FASFC
1 siteAalst2.153.623.890
Recognised sheltered-work company
1 live approvalRecognised sheltered-work company
Quality registration as a provider
1 live approvalQuality registration as a provider
Legal Entity Identifier
894500EFNBDBPSNN8Y58
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Of 284 companies in sector 88993 we hold annual accounts for 246. 173 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formNon-profit association
Founded18-04-1968
Fiscal year end31-12
Activities, NACEBEL 2025
88993Social work activities without accommodation
Sources
Crossroads Bank for EnterprisesNational Bank · 20 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.