MAO3 · Checked.be

Summary

Conclusion

the dossier summarised in one paragraph

The computed 12-month bankruptcy probability of MAO3 is 2.4% (moderate). The 2025 annual accounts show equity of €864k and a net result of €134k. The company has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 2 annual accounts.

Signals

1 signal · with evidence

Consistently profitable

Positive net result in the two most recent financial years (2024 and 2025).

View the result trend

Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.

Filing behaviour

From the deposit records, complete market-wide

Latest accounts filed on time

The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 15-12-2025, 47 days ahead of the deadline. This speaks to administrative punctuality and says nothing about the financial position.

The next deadline is still running

The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.

How we compute the deadline

The year end is derived from 2 filed financial years, each closing on 30-06. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 30-06-2025, that is 31-01-2026.

Deadline per financial year

Year closed	Due by	Filed	Variance	Reference
30-06-2025	31-01-2026	15-12-2025	47 d early	2025-00581787
30-06-2024	31-01-2025	26-08-2024	158 d early	2024-00378422

Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

2 signals

Young company

Founded in 2023, under 3 years, statistically higher risk.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone

2.4% Moderate

0%0,5%1,5%4%10%≥25%

Young company +No NACE activity registered +Annual accounts: healthy financial profile −

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Financials

TurnoverNot published (abbreviated filing)

EBIT marginNot published (abbreviated filing)

Net result€134k-5.4%

Working capital€144k+189.7%

CSV export

Annual accounts & ratios

Source: NBB · 2025

Annual accounts filed on 15-12-2025 with the NBB · fiscal year 2025 · volledig

Operating resultNet result

Net profit

€134k

-5.4% 24-25

Total assets

€904k

-1.8% 24-25

Equity

€864k

+18.3% 24-25

Working capital

€144k

+189.7% 24-25

Dividends

€141k

- 24-25

Debt

€39k

-79.3% 24-25

Debt ≤ 1y

€39k

-79.3% 24-25

Current ratio

4.67

+269.7% 24-25

Show 5 other metrics

Quick ratio

4.67

+269.7% 24-25

Solvency

95.6%

+20.5% 24-25

Debt / equity

0.05

-82.5% 24-25

ROE

15.5%

-20.1% 24-25

ROA

14.8%

-3.7% 24-25

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2025
Deposit	volledig
Revenue	-
EBITDA	-
Net profit	€134k
Cash flow	-
Staff costs	-
Income taxes	-
Dividends	-
Total assets	€904k
Equity	€864k
Debt	€39k
of which ≤ 1y	€39k
of which > 1y	-
Working capital	€144k
Employees (FTE)	-

Ratios (computed)

	2025
Current ratio	4.67
Quick ratio	4.67
Working capital ratio	16.0%
Solvency	95.6%
Debt / equity	0.05
Long-term debt ratio	-
Interest coverage	-
Gross margin	-
Net margin	-
ROA	14.8%
ROE	15.5%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2025

Assets

Fixed assets €720k · 79.7% Current assets €184k · 20.3%

Equity & liabilities

Equity €864k · 95.7% Debt €39k · 4.4%

Full annual accounts (19 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025
Balance sheet, Assets
TOTAL ASSETS	20/58	€904k
Fixed assets	21/28	€720k
Financial fixed assets	28	€720k
Current assets	29/58	€184k
Amounts receivable within one year	40/41	€369
Cash & bank	54/58	€183k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€904k
Equity	10/15	€864k
Contributions / capital	10/11	€731k
Accumulated profits (losses)	14	€134k
Amounts payable	17/49	€39k
Amounts payable within one year	42/48	€39k
Income statement
Gross operating margin	9900	€-4k
Operating result	9901	€-4k
Financial income	75	€137k
Financial charges	65	€108
Result before taxes	9903	€134k
Net result for the period	9904	€134k
Result to be appropriated	9905	€134k

This table shows the latest fiscal year. 1 prior year, with figures and ratios, belongs to a paid plan. See plans →

Ratios computed by Checked.

Health barometer

FY 2025 · computed

85 / 100 Excellent

050100

Computed from 4 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.

See plans →

Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.

Structure & network

Locations & real estate

Registered office

on the map · from the address register

exact location from the address register On OpenStreetMap

Establishment units

1 location

Marianne Marcelis

Elsense Steenweg 127d, 1050 ElseneHoldings

since 20232.354.592.747

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Parcels2

Ground area5,491 m²

Buildings2

Building footprint1,978 m²

Volume (LiDAR)24,924 m³

Tallest building18.0 m · ±5 fl.

Real-estate footprint

Source: CBE × cadastre · address linking

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Wallonia 1 (50%) Brussels 1 (50%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
25772K0082/00W000	Wallonia	3,033 m²	1 · 1,266 m²	16.3 m · 4 fl.
21009A1062/00W000	Brussels	2,458 m²	1 · 712 m²	18.0 m · 5 fl.

Methodology

via registered seat: 1 · via establishment units: 1

2 of 2 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Publications

Lifecycle & Insolvency Signals

No insolvency signals in the Belgian State Gazette

Belgisch Staatsblad · acts

1 acts

Address history · 1

09-07-2025

Registered-office move

All acts · 1 updated 1 year ago

2025

09-07-2025 Registered office moved from IXELLES to Wavre Registered-office change·notary's full name not specified in text

PLACE DU CHAMP DE MARS 5/14, 1050 IXELLES → chemin du Stocquoy 1-3, 1300 Wavre

Notary: notary's full name not specified in text · Bruxelles

Original publication ↗

Analysis

Financial profile

5 of 5 axes measured

79 / 100

Exceptional profile, strong across almost every axis.

All 5 axes are computed from data Checked has read.

Health 85

Profitability 77

Solvency 100

Growth 52

Stability 82

Credit advice

verdict per customer and amount

Company registry

Company registry (CBE)

Crossroads Bank

Names & trade names

Legal nameFR

MAO3

Registered office

Chemin du Stocquoy 1-3

1300 Wavre, Belgium

Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.