MAES
0442.427.490 · rovalta.com · 22/09/2026
ACTIVE
MAES
Financial year 2025 · closed on 31/12/2025
Net result
-955,7 k €
-252.5% YoY
Gross margin
-59,6 k €
-104.8% YoY
Equity
476,2 k €
-74.7% YoY
Workforce
8,7 ETP
+13.0% YoY
Overview
What does MAES do?
MAES is a Private limited company incorporated in 1990. Its main activity is: Manufacture of central heating radiators and boilers. Its registered office is in Turnhout. It employs on average 8,7 ETP workers (FTE).
Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0442.427.490
Incorporation
17/12/1990
Legal form
Private limited company
Registered office
Industriedijk 2
2300 Turnhout · FlandreSee on map
2300 Turnhout · FlandreSee on map
Contributed capital
18 600,00 €
Latest accounts
31/12/2025
Average workforce
8,7 ETP
Activities (NACE)
25210Manufacture of central heating radiators and boilers· main25300Manufacture of steam generators, except central heating hot water boilers71121Engineering activities and related technical consultancy71121Engineering activities and related technical consultancy81220Other building and industrial cleaning activities81220Other building and industrial cleaning activities
Joint committees (5)
- 111
- 11101 209
- 121
- 209
- 218
Signals
Healthy social debts
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Financials
Trend over 19 financial years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2006 | |||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | |||||||||||||||||||||||||||||||||||||
| Gross margin | -59,6 k € | -105% | 1,2 M € | -9.0% | 1,4 M € | -10.5% | 1,5 M € | +0.8% | 1,5 M € | +30.5% | 1,2 M € | -43.0% | 2 M € | +25.6% | 1,6 M € | +12.7% | 1,4 M € | +5.9% | 1,4 M € | +13.0% | 1,2 M € | +21.3% | 991,5 k € | -3.0% | 1 M € | +39.2% | 734,4 k € | +3.2% | 711,4 k € | -1.2% | 719,9 k € | +56.1% | 461,1 k € | -7.9% | 500,5 k € | +47.8% | 338,6 k € |
| EBITDA | -758,3 k € | -202% | 740,3 k € | -13.2% | 852,5 k € | -14.5% | 997,3 k € | +1.0% | 987,3 k € | +238% | 292,4 k € | -73.6% | 1,1 M € | +59.8% | 693,2 k € | +16.5% | 594,9 k € | -3.4% | 615,9 k € | -4.8% | 647,1 k € | +66.6% | 388,4 k € | -17.4% | 469,9 k € | +156% | 183,4 k € | -36.9% | 290,9 k € | -14.8% | 341,4 k € | +153% | 135,2 k € | -26.4% | 183,6 k € | +617% | 25,6 k € |
| Operating result | -758,9 k € | -209% | 698,4 k € | -17.3% | 844,2 k € | -13.8% | 979,8 k € | -0.4% | 984,2 k € | +365% | 211,7 k € | -79.7% | 1 M € | +95.0% | 535,4 k € | +3.5% | 517,3 k € | -5.6% | 548 k € | -1.2% | 554,5 k € | +63.7% | 338,8 k € | -21.7% | 432,8 k € | +191% | 148,9 k € | -43.8% | 264,7 k € | -11.1% | 297,8 k € | +252% | 84,6 k € | -34.6% | 129,3 k € | +6097% | -2,2 k € |
| Net result | -955,7 k € | -253% | 626,5 k € | -0.6% | 630,3 k € | -14.0% | 732,8 k € | -0.3% | 735,1 k € | +333% | 169,7 k € | -75.7% | 698,5 k € | +89.3% | 369 k € | +12.5% | 327,9 k € | -9.0% | 360,4 k € | +0.6% | 358,2 k € | +67.0% | 214,5 k € | -21.4% | 273,1 k € | +212% | 87,5 k € | -44.6% | 157,9 k € | -9.3% | 174 k € | +212% | 55,8 k € | -27.8% | 77,3 k € | +201% | 25,7 k € |
| Balance sheet | |||||||||||||||||||||||||||||||||||||
| Equity | 476,2 k € | -74.7% | 1,9 M € | +1.4% | 1,9 M € | -1.0% | 1,9 M € | +64.2% | 1,1 M € | +3.2% | 1,1 M € | +18.1% | 937,6 k € | -24.3% | 1,2 M € | +42.4% | 870,1 k € | +37.6% | 632,2 k € | -2.5% | 648,4 k € | +9.6% | 591,4 k € | +35.4% | 436,8 k € | +20.1% | 363,7 k € | +8.2% | 336,2 k € | +54.9% | 217 k € | -5.5% | 229,6 k € | +32.1% | 173,8 k € | +6.0% | 163,9 k € |
| Total assets | 4,5 M € | -5.5% | 4,8 M € | +22.5% | 3,9 M € | +27.7% | 3,1 M € | +26.5% | 2,4 M € | +3.1% | 2,4 M € | -31.8% | 3,4 M € | +38.9% | 2,5 M € | +20.9% | 2,1 M € | +7.9% | 1,9 M € | +1.0% | 1,9 M € | +25.3% | 1,5 M € | -14.6% | 1,8 M € | +45.4% | 1,2 M € | -1.3% | 1,2 M € | +63.7% | 748,7 k € | +24.7% | 600,6 k € | +0.6% | 596,8 k € | +11.7% | 534,3 k € |
| Cash | 335,8 k € | -25.2% | 448,8 k € | +20.3% | 373,2 k € | -39.7% | 619,1 k € | +15.2% | 537,2 k € | -14.0% | 624,5 k € | -55.9% | 1,4 M € | +495% | 238,2 k € | -13.8% | 276,3 k € | -53.4% | 593,2 k € | +4.1% | 569,7 k € | +45.7% | 391,1 k € | -6.6% | 418,5 k € | +431% | 78,8 k € | -71.7% | 278,9 k € | +709% | 34,5 k € | +77.7% | 19,4 k € | -30.0% | 27,7 k € | +68.6% | 16,4 k € |
| Debts | 4 M € | +54.3% | 2,6 M € | +36.0% | 1,9 M € | +75.1% | 1,1 M € | -14.3% | 1,3 M € | +3.0% | 1,2 M € | -50.4% | 2,5 M € | +106% | 1,2 M € | +7.0% | 1,1 M € | -8.6% | 1,2 M € | +1.8% | 1,2 M € | +34.0% | 910,9 k € | -31.1% | 1,3 M € | +56.3% | 846,3 k € | -4.9% | 889,7 k € | +67.3% | 531,7 k € | +43.3% | 371 k € | -12.3% | 423 k € | +14.2% | 370,4 k € |
| Other | |||||||||||||||||||||||||||||||||||||
| Workforce | 8,7 ETP | +13.0% | 7,7 ETP | +4.1% | 7,4 ETP | -14.0% | 8,6 ETP | -1.1% | 8,7 ETP | -33.1% | 13,0 ETP | -21.2% | 16,5 ETP | +10.7% | 14,9 ETP | +3.5% | 14,4 ETP | +14.3% | 12,6 ETP | +8.6% | 11,6 ETP | +17.2% | 9,9 ETP | +3.1% | 9,6 ETP | -5.0% | 10,1 ETP | +27.8% | 7,9 ETP | +8.2% | 7,3 ETP | +1.4% | 7,2 ETP | +2.9% | 7,0 ETP | +29.6% | 5,4 ETP |
Estimate
Indicative valuation
As an indication, this company is worth
between 250 k€ and 500 k€
See the valuationGovernance
Board of directors
Seen on filing of 31/12/2025 · 4 active · 11 ended
Financials
Annual accounts
Full financial information
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Type of account | Abridged model | Abridged model | Abridged model | Abridged model | Abridged model | Abridged model |
| Start of the financial year | 01/01/2025 | 01/01/2024 | 01/01/2023 | 01/01/2022 | 01/01/2021 | 01/01/2020 |
| Closing of the financial year | 31/12/2025 | 31/12/2024 | 31/12/2023 | 31/12/2022 | 31/12/2021 | 31/12/2020 |
| Length of the financial year | 12 months | 12 months | 12 months | 12 months | 12 months | 12 months |
| Filing date | 23/06/2026 | 23/06/2025 | 04/06/2024 | 04/07/2023 | 02/06/2022 | 14/06/2021 |
| General meeting | 19/06/2026 | 02/06/2025 | 05/02/2024 | 01/06/2023 | 01/06/2022 | 01/06/2021 |
| Currency of the financial year | EUR | EUR | EUR | EUR | EUR | EUR |
| NBB quality label | Satisfying controls | Satisfying controls | Satisfying controls | Satisfying controls | Satisfying controls | Satisfying controls |
Ratios
Financial ratios
Looking for more information about this company?
Try for 7 daysFilings
Annual accounts filings
20 filings with the NBB
| Model | Closing | General meeting | Filed | Language | Document |
|---|---|---|---|---|---|
| Abridged model | 31/12/2025 | 19/06/2026 | 23/06/2026 | Dutch | |
| Abridged model | 31/12/2024 | 02/06/2025 | 23/06/2025 | Dutch | |
| Abridged model | 31/12/2023 | 05/02/2024 | 04/06/2024 | Dutch | |
| Abridged model | 31/12/2022 | 01/06/2023 | 04/07/2023 | Dutch | |
| Abridged model | 31/12/2021 | 01/06/2022 | 02/06/2022 | Dutch | |
| Abridged model | 31/12/2020 | 01/06/2021 | 14/06/2021 | Dutch | |
| Abridged model | 31/12/2019 | 20/03/2020 | 30/03/2020 | Dutch | |
| Abridged model | 31/12/2018 | 03/06/2019 | 31/07/2019 | Dutch | |
| Abridged model | 31/12/2017 | 01/06/2018 | 20/07/2018 | Dutch | |
| Abridged model | 31/12/2016 | 01/06/2017 | 24/08/2017 | Dutch | |
| Abridged model | 31/12/2015 | 01/06/2016 | 13/06/2016 | Dutch | |
| Abridged model | 31/12/2014 | 04/05/2015 | 07/10/2015 | Dutch | |
| Abridged model | 31/12/2013 | 20/05/2014 | 22/05/2014 | Dutch | |
| Abridged model | 31/12/2012 | 03/06/2013 | 05/07/2013 | Dutch | |
| Abridged model | 31/12/2011 | 01/03/2012 | 02/07/2012 | Dutch | |
| Abridged model | 31/12/2010 | 01/06/2011 | 20/06/2011 | Dutch | |
| Abridged model | 31/12/2009 | 01/06/2010 | 09/06/2010 | Dutch | |
| Abridged model | 31/12/2008 | 01/06/2009 | 23/07/2009 | Dutch | |
| Abridged model | 31/12/2007 | 01/06/2008 | 28/11/2008 | Dutch | |
| Abridged model | 31/12/2006 | 01/06/2007 | 08/06/2007 | Dutch |
Valuation
Estimate
Indicative valuation
Order of magnitude
As an indication, this company is worth
between 250 k€ and 500 k€
The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.
Disclaimer
Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.
Directors & structure
Governance
Board of directors
Seen on filing of 31/12/2025 · 4 active · 11 ended
Shareholders
Ownership and network
Looking for more information about this company?
Try for 7 daysPublications
Belgian Official Gazette
Belgian Official Gazette publications
- Mandates04/03/2026ONTSLAGEN - BENOEMINGEN
- Mandates27/01/2025ONTSLAGEN - BENOEMINGEN
- Mandates08/08/2024ONTSLAGEN - BENOEMINGEN
- Mandates04/12/2023STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
- Mandates26/10/2020ONTSLAGEN - BENOEMINGEN
- Registered office16/03/2018MAATSCHAPPELIJKE ZETEL
- Mandates03/03/2016ONTSLAGEN - BENOEMINGEN
- Mandates03/03/2016ONTSLAGEN - BENOEMINGEN
Source: Belgian Official Gazette
Similar companies
Competition
Similar companies
A company's peers, by sector and size, are included in the Business plan.
See the Business planTimeline
Timeline
- 2025Annual accounts 2025-955,7 k €↓
- 2024Annual accounts 2024626,5 k €↓
- 2023Annual accounts 2023630,3 k €↓
- 2022Annual accounts 2022732,8 k €↓
- 2021Annual accounts 2021735,1 k €↑
- 2020Annual accounts 2020169,7 k €↓
- 2019Annual accounts 2019698,5 k €↑
- 2018Annual accounts 2018369 k €↑
- 2017Annual accounts 2017327,9 k €↓
- 2016Annual accounts 2016360,4 k €↑
- 2015Annual accounts 2015358,2 k €↑
- 2014Annual accounts 2014214,5 k €↓
- 2013Annual accounts 2013273,1 k €↑
- 2012Annual accounts 201287,5 k €↓
- 2011Annual accounts 2011157,9 k €↓
- 2010Annual accounts 2010174 k €↑
- 2009Annual accounts 200955,8 k €↓
- 2008Annual accounts 200877,3 k €↑
- 2006Annual accounts 200625,7 k €
- 17/12/1990IncorporationPrivate limited company