ACTIVE

MAHO

Export PDF

Financial year 2025 · closed on 30/09/2025

Net result

55,9 k €

-43.6% YoY

Gross margin

42,7 k €

-1.2% YoY

Equity

817,9 k €

+7.3% YoY

What does MAHO do?

MAHO is a Private limited company incorporated in 2009. Its main activity is: Dispensing chemist in specialised stores. Its registered office is in Tienen.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0812.300.665

Incorporation

15/06/2009

Legal form

Private limited company

Registered office

Sint-Pietersstraat(VSN) 67
3300 Tienen · FlandreSee on map

Contributed capital

24 800,00 €

Latest accounts

30/09/2025

Activities (NACE)

47730Dispensing chemist in specialised stores· main 47730Dispensing chemist in specialised stores 21100Manufacture of basic pharmaceutical products 21100Manufacture of basic pharmaceutical products 47750Retail sale of cosmetic and toilet articles in specialised stores 47750Retail sale of cosmetic and toilet articles in specialised stores

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

View the BCE/KBO Public Search record →

Health score

Available with a Rovalta subscriptionTry for 7 days

Recommended credit limit

✦ Verdict · Analyst summary

Financials

Trend over 14 financial years

	2025		2024		2023		2022		2021		2020		2018		2017		2016		2015		2014		2012		2011		2010
Income statement
Gross margin	42,7 k €	-1.2%	43,2 k €	-46.6%	80,9 k €	-3.4%	83,7 k €	-11.2%	94,3 k €	+30.3%	72,3 k €	+4.4%	69,3 k €	-16.7%	83,1 k €	+71.8%	48,4 k €	-41.5%	82,7 k €	+22.5%	67,5 k €	+27.0%	53,2 k €	-3.3%	55 k €	-4.8%	57,8 k €
EBITDA	39,8 k €	+4.8%	38 k €	-51.8%	78,7 k €	-3.3%	81,4 k €	-10.5%	90,9 k €	+31.6%	69,1 k €	+1.6%	68 k €	-16.0%	80,9 k €	+78.2%	45,4 k €	-43.8%	80,9 k €	+25.4%	64,5 k €	+25.0%	51,6 k €	-5.5%	54,6 k €	+65.2%	33 k €
Operating result	27,6 k €	+7.1%	25,7 k €	-61.3%	66,5 k €	-3.7%	69 k €	-12.3%	78,7 k €	+36.3%	57,7 k €	+1.2%	57,1 k €	-18.7%	70,2 k €	+102%	34,6 k €	-50.6%	70,1 k €	+30.5%	53,7 k €	+31.2%	41 k €	-6.8%	43,9 k €	+146%	17,9 k €
Net result	55,9 k €	-43.6%	99,1 k €	-45.3%	181,1 k €	-30.7%	261,4 k €	+502%	43,4 k €	+18.2%	36,7 k €	+59.6%	23 k €	-28.3%	32,1 k €	+253%	9,1 k €	-77.3%	40,1 k €	+200%	13,3 k €	+166%	5 k €	-40.9%	8,5 k €	+127%	-31,1 k €
Balance sheet
Equity	817,9 k €	+7.3%	762 k €	+15.0%	662,9 k €	+37.6%	481,8 k €	+119%	220,3 k €	+24.5%	176,9 k €	+34.3%	131,7 k €	+21.2%	108,7 k €	+41.9%	76,6 k €	+13.5%	67,5 k €	+146%	27,4 k €	+2569%	1 k €	+126%	-4 k €	+68.0%	-12,5 k €
Total assets	1 M €	+1.2%	991,7 k €	+1.1%	980,5 k €	+11.0%	883,2 k €	+3.7%	851,8 k €	+0.3%	849,4 k €	-18.8%	1 M €	+2.1%	1 M €	+6.8%	959,4 k €	-6.3%	1 M €	+1.2%	1 M €	+11.2%	909,8 k €	-1.1%	920,2 k €	-0.6%	926 k €
Cash	178,9 k €	+99.8%	89,5 k €	+1.1%	88,6 k €	+386%	18,2 k €	+73.3%	10,5 k €	+2.1%	10,3 k €	+22.0%	8,4 k €	+1645%	483,6 €	-91.9%	5,9 k €	-17.9%	7,2 k €	-25.9%	9,8 k €	+28.9%	7,6 k €	+4.6%	7,2 k €	+195%	2,5 k €
Debts	185,3 k €	-19.3%	229,7 k €	-27.7%	317,6 k €	-20.9%	401,5 k €	-36.4%	631,4 k €	-6.1%	672,5 k €	-25.7%	904,5 k €	-0.1%	905,6 k €	+3.8%	872,8 k €	-7.7%	945,9 k €	-2.9%	973,9 k €	+7.2%	908,8 k €	-1.7%	924,1 k €	-1.5%	938,5 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 250 k€ and 500 k€

See the valuation

Governance

Board of directors

Seen on filing of 30/09/2025 · 2 active · 6 ended

Active mandates

Nico René Willy Joseph Laermans

Associate · since 16 juin 2009

Active

Pascale Maho

Director · since 16 juin 2009

Active

Ended mandates

Pascale Maho

Manager · since 16 septembre 2009

Ended

Nico René Willy Joseph Laermans

Director · since 16 juin 2009

Ended

Nico René Willy Joseph Laermans

Manager · since 16 juin 2009

Ended

Pascale Maho

Manager · since 16 juin 2009

Ended

At this address

Other companies at this address

Company	CBE no.
Vertex Finance Club● Active	1041.779.010
Zakenkantoor Laermans● Active	0844.406.873

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Micro model
Start of the financial year	01/10/2024	01/10/2023	01/10/2022	01/10/2021	01/10/2020	01/10/2019
Closing of the financial year	30/09/2025	30/09/2024	30/09/2023	30/09/2022	30/09/2021	30/09/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	09/03/2026	31/03/2025	04/03/2024	08/03/2023	04/04/2022	23/04/2021
General meeting	06/03/2026	07/03/2025	01/03/2024	03/03/2023	04/03/2022	26/03/2021
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 days

Filings

Annual accounts filings

15 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	30/09/2025	06/03/2026	09/03/2026	Dutch	PDF
Abridged model	30/09/2024	07/03/2025	31/03/2025	Dutch	PDF
Abridged model	30/09/2023	01/03/2024	04/03/2024	Dutch	PDF
Abridged model	30/09/2022	03/03/2023	08/03/2023	Dutch	PDF
Abridged model	30/09/2021	04/03/2022	04/04/2022	Dutch	PDF
Micro model	30/09/2020	26/03/2021	23/04/2021	Dutch	PDF
Micro model	30/09/2019	06/03/2020	22/03/2020	Dutch	PDF
Micro model	30/09/2018	01/03/2019	30/04/2019	Dutch	PDF
Micro model	30/09/2017	02/03/2018	30/03/2018	Dutch	PDF
Abridged model	30/09/2016	03/03/2017	17/03/2017	Dutch	PDF
Abridged model	30/09/2015	04/03/2016	31/03/2016	Dutch	PDF
Abridged model	30/09/2014	06/03/2015	30/04/2015	Dutch	PDF
Abridged model	30/09/2012	01/03/2013	30/04/2013	Dutch	PDF
Abridged model	30/09/2011	02/03/2012	31/05/2012	Dutch	PDF
Abridged model	30/09/2010	04/03/2011	11/05/2011	Dutch	PDF

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.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 30/09/2025 · 2 active · 6 ended

Active mandates

Nico René Willy Joseph Laermans

Associate · since 16 juin 2009

Active

Pascale Maho

Director · since 16 juin 2009

Active

Ended mandates

Pascale Maho

Manager · since 16 septembre 2009

Ended

Nico René Willy Joseph Laermans

Director · since 16 juin 2009

Ended

Nico René Willy Joseph Laermans

Manager · since 16 juin 2009

Ended

Pascale Maho

Manager · since 16 juin 2009

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates05/02/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates24/02/2023
ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM
PDF
Restructuring30/04/2019
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring12/02/2019
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Other24/06/2009
RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, ENZ...)
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 202555,9 k €↓
2024
Annual accounts 202499,1 k €↓
2023
Annual accounts 2023181,1 k €↓
2022
Annual accounts 2022261,4 k €↑
2021
Annual accounts 202143,4 k €↑
2020
Annual accounts 202036,7 k €↑
2018
Annual accounts 201823 k €↓
2017
Annual accounts 201732,1 k €↑
2016
Annual accounts 20169,1 k €↓
2015
Annual accounts 201540,1 k €↑
2014
Annual accounts 201413,3 k €↑
2012
Annual accounts 20125 k €↓
2011
Annual accounts 20118,5 k €↑
2010
Annual accounts 2010-31,1 k €
15/06/2009
IncorporationPrivate limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

MAHO

Overview

What does MAHO do?

Trend over 14 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline