Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Tight liquidity NBB
Cash and receivables cover 19 % of short-term debt in 2025; threshold 65 %.
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Not on Peppol Peppol
Not registered in the Peppol network, mandatory for VAT-liable companies since 1 January 2026.
Financials
Financial year 2025
M & S from Waregem, company number BE0421096497, closed financial year 2025 with a result of € 23,913 after tax. For that financial year M & S recorded a gross margin of € 96,557 and equity of € 546,787. Compared with financial year 2024, the result moved from € 17,598 to € 23,913. Profitable, and profit is growing. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on June 9, 2026.
€ 546,787
▲ 5% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 23,913
▲ 36% vs 2024
Profit after tax over the fiscal year.
€ 128,559
▼ 60% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 338,557.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 408
▼ 98% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 79,481 | € 90,843 | € 84,400 | € 96,557 | ▲ 14% |
| Profit after taxes | € 21,604 | € 25,722 | € 17,598 | € 23,913 | ▲ 36% |
| Equity | € 479,554 | € 505,276 | € 522,874 | € 546,787 | ▲ 5% |
| Total debts | € 618,331 | € 641,933 | € 658,164 | € 667,820 | ▲ 1% |
| Cash | € 194,780 | € 45,741 | € 318,539 | € 128,559 | ▼ 60% |
| Land & buildings | € 860,043 | € 838,768 | € 817,493 | € 796,217 | ▼ 3% |
| Retained profit | € 271,323 | € 297,045 | € 314,644 | € 338,557 | ▲ 8% |
| Balance sheet total | € 1,097,885 | € 1,147,209 | € 1,181,038 | € 1,214,608 | ▲ 3% |
Key figures of M & S, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to M & S?
What happened at M & S in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Gladys Corbanie stepped down as director. NBB
- Mike Fraeye stepped down as director. NBB
- Stephen Fraeye stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 23,913 (▲ 36% vs 2024). Source: NBB ↗
- Gladys Corbanie became a director. NBB
- Mike Fraeye became a director. NBB
- Stephen Fraeye became a director. NBB
- New establishment in Waregem. KBO
In short
From € 21,604 profit in 2022 to € 23,913 profit in 2025.
Paid € 41,425 in corporate taxes since 2022.
Best year ever: 2023, with € 25,722 profit.
Management
Directors
According to the 2025 annual accounts
Gladys Corbanie
Director
since 2021 · until 2027
Mike Fraeye
Director
Also active at: COMPUTERS AND COMMUNICATIONS, WASP, CARFAC, DIGITAL LION, FRAEYE HARDWARE GROUP, EFFIX GROUP, MOMENTUM & KO, PANG +1 more
since 2021 · until 2027
since 2021 · until 2027
Establishments
Establishment units
Physical locations of this company
Stationsstraat 30 box 1
8790 Waregem
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 1 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0421.096.497
- VAT number
- BE 0421.096.497
- Registered office
- Stationsstraat 30 bus 1, 8790 Waregem
- Names & denominations
- M & S
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 10 December 1980
- Peppol
- Not registered