DE MAX
ActiveSummary
DE MAX has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €236,861 and a net result of €13,264. Equity is shrinking by ~2.5% per year across the filed fiscal years. Its solvency ranks better than 43% of 3757 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability65▼-13
Solvency48▼-52
Growth32▼-26
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €14,000 at 30 days acceptable
Liquidity ample (current ratio 4.06 against 3.77 in 2024; short-term debt: 4.8% and cash: 0.5% of total assets), but 76.6% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 56
Relative position
BE, all sectors
reference
Food and beverage service activities (NACE 56)
about 206% more bankruptcies
← 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 · 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
19202122232425
2019 to 2025 · latest year €236,861
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 30-10-2025, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
1 d early
2023
2 d early
2022
on the day
2021
6 d early
2020
29 d early
2019
30 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 10 days before the deadline; the sector median for financial year 2024 is 6 days after the deadline, and 52% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close27-09-2026 today31-10-2026 deadline
History
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#2 company by total assets in Herentals, Accommodation and food service sector#3 oldest company in Herentals, Accommodation and food service sector#10 company by equity in Herentals, Accommodation and food service sector
Equity
€236,861▲ 5.9%
2024 · €223,597
Total assets
€1.0m▲ 239%
2024 · €299,070
Net result
€13,264▼ 41.4%
2024 · €22,636
Working capital
€148,962▲ 35.6%
2024 · €109,887
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€30,113-€17,284▲ 42.6%€9,360€28,275▲ 202%€30,386▲ 7.5%
Net result-€34,266-€21,843▲ 36.3%€3,479€22,636▲ 551%€13,264▼ 41.4%
Equity€219,326▼ 11.4%€197,483▼ 10.0%€200,961▲ 1.8%€223,597▲ 11.3%€236,861▲ 5.9%
Total assets€337,976▼ 9.2%€304,189▼ 10.0%€288,847▼ 5.0%€299,070▲ 3.5%€1.0m▲ 239%
Debt€118,650▼ 4.7%€106,706▼ 10.1%€87,885▼ 17.6%€75,473▼ 14.1%€777,286▲ 930%
Working capital€125,498▼ 12.1%€88,216▼ 29.7%€93,675▲ 6.2%€109,887▲ 17.3%€148,962▲ 35.6%
Staff (FTE)0.1▼ 88.9%0.1=0.3▲ 200%0.5▲ 66.7%1.2▲ 140%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Why a figure moved sharply
- 2025 Total assets +239% on 2024. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 7% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.0m
Fixed assets
€816,577 ▲ 446%
Current assets
€197,570 ▲ 32.1%
Equity and liabilities €1.0m
Equity
€236,861 ▲ 5.9%
Debt
€777,286 ▲ 930%
Debt's share of the balance-sheet total rises from 25.2% to 76.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€63,280▲
2024 · €44,418
Cash flow
€46,159▲
2024 · €38,780
Current ratio
4.06▲
2024 · 3.77
Debt to equity
3.28▲
2024 · 0.34
ROE
5.6%▼
2024 · 10.1%
ROA
1.3%▼
2024 · 7.6%
Interest coverage
5.36▼
2024 · 10.50
Debt ≤ 1 year
€48,609▲
2024 · €39,712
Debt > 1 year
€728,677▲
2024 · €35,761
Income taxes
€5,742▲
2024 · €1,409
Staff costs
€25,169▲
2024 · €8,238
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,972 companies that looked in July 2024 the way this one looks now, 1.2% went bankrupt within 24 months and 96% are still going.
- Micro
- 20 years or older
- solvency 10 to 30%
- a profit under 5% of the balance sheet
1.2%
went bankrupt
2.2%
stopped otherwise
96%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.0% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 3,972 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €3,090 | €3,779 | €8,238 | €25,169 | ▲ 206% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €18,132 | €21,021 | €19,982 | €16,144 | €32,895 | ▲ 104% |
| Other operating charges640/8 | - | €4,136 | €4,502 | €6,164 | €5,499 | ▼ 10.8% |
| Gross operating margin9900 | -€3,520 | €10,963 | €37,623 | €58,820 | €93,947 | ▲ 59.7% |
| Operating profit (loss)9901 | -€30,113 | -€17,284 | €9,360 | €28,275 | €30,386 | ▲ 7.5% |
| Financial income75/76B | - | €1,435 | €7 | €2 | €423 | ▲ 26,656% |
| Recurring financial income75 | €462 | €1,435 | €7 | €2 | €423 | ▲ 26,656% |
| Financial charges65/66B | - | €5,995 | €5,889 | €4,231 | €11,803 | ▲ 179% |
| Recurring financial charges65 | €4,198 | €5,995 | €5,889 | €4,231 | €11,803 | ▲ 179% |
| Profit (loss) for the period before taxes9903 | -€33,849 | -€21,843 | €3,479 | €24,045 | €19,006 | ▼ 21.0% |
| Income taxes67/77 | €418 | - | - | €1,409 | €5,742 | ▲ 308% |
| Profit (loss) for the period9904 | -€34,266 | -€21,843 | €3,479 | €22,636 | €13,264 | ▼ 41.4% |
| Profit (loss) for the period to be appropriated9905 | -€30,091 | -€21,843 | €3,479 | €22,636 | €13,264 | ▼ 41.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €337,976 | €304,189 | €288,847 | €299,070 | €1.0m | ▲ 239% |
| Fixed assets21/28 | €185,097 | €184,371 | €165,615 | €149,471 | €816,577 | ▲ 446% |
| Tangible fixed assets22/27 | €184,797 | €184,071 | €165,315 | €149,171 | €816,277 | ▲ 447% |
| Land and buildings22 | - | €168,900 | €153,780 | €141,063 | €811,595 | ▲ 475% |
| Plant, machinery and equipment23 | - | €13,721 | €10,383 | €7,255 | €4,127 | ▼ 43.1% |
| Furniture and vehicles24 | - | €1,450 | €1,152 | €853 | €555 | ▼ 35.0% |
| Financial fixed assets28 | €300 | €300 | €300 | €300 | €300 | = |
| Current assets29/58 | €152,879 | €119,817 | €123,231 | €149,598 | €197,570 | ▲ 32.1% |
| Amounts receivable within one year40/41 | €108,665 | €118,453 | €121,458 | €147,538 | €192,181 | ▲ 30.3% |
| Trade receivables40 | - | €12,303 | €1,966 | €4,060 | €3,451 | ▼ 15.0% |
| Other amounts receivable41 | - | €106,151 | €119,493 | €143,478 | €188,730 | ▲ 31.5% |
| Cash at bank and in hand54/58 | €43,589 | €1,364 | €1,773 | €2,060 | €5,389 | ▲ 162% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €337,976 | €304,189 | €288,847 | €299,070 | €1.0m | ▲ 239% |
| Equity10/15 | €219,326 | €197,483 | €200,961 | €223,597 | €236,861 | ▲ 5.9% |
| Contributions10/11 | - | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €199,326 | €177,483 | €180,961 | €203,597 | €216,861 | ▲ 6.5% |
| Non-distributable reserves130/1 | - | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Reserves not available under the articles1311 | - | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Distributable reserves133 | - | €175,483 | €178,961 | €201,597 | €214,861 | ▲ 6.6% |
| Profit (loss) carried forward14 | €21,616 | - | - | - | - | - |
| Amounts payable17/49 | €118,650 | €106,706 | €87,885 | €75,473 | €777,286 | ▲ 930% |
| Amounts payable after more than one year17 | €91,269 | €75,104 | €58,329 | €35,761 | €728,677 | ▲ 1,938% |
| Financial debts170/4 | - | €75,104 | €58,329 | €35,761 | €728,677 | ▲ 1,938% |
| Amounts payable within one year42/48 | €27,381 | €31,602 | €29,557 | €39,712 | €48,609 | ▲ 22.4% |
| Current portion of amounts payable after more than one year42 | - | €16,854 | €17,492 | €13,072 | €37,738 | ▲ 189% |
| Trade debts44 | €10,271 | €8,922 | €2,791 | €8,662 | €3,397 | ▼ 60.8% |
| Suppliers440/4 | - | €8,922 | €2,791 | €8,662 | €3,397 | ▼ 60.8% |
| Advances received on contracts in progress46 | - | €3,379 | - | €1,025 | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | - | €1,657 | €8,535 | €16,683 | €7,474 | ▼ 55.2% |
| Taxes450/3 | - | €1,627 | €8,147 | €15,779 | €5,742 | ▼ 63.6% |
| Remuneration and social security454/9 | - | €31 | €388 | €903 | €1,733 | ▲ 91.9% |
| Other amounts payable47/48 | - | €790 | €738 | €270 | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€34,266 | -€21,843 | €3,479 | €22,636 | €13,264 | ▼ 41.4% |
| + Depreciation and write-downs630 | €18,132 | €21,021 | €19,982 | €16,144 | €32,895 | ▲ 104% |
| Operating cash flow (approximation) | -€16,134 | -€823 | €23,460 | €38,780 | €46,159 | ▲ 19.0% |
| Investment in fixed assets (approximation) | - | -€20,295 | -€1,226 | €0 | -€700,000 | - |
| Change in cash | - | -€42,225 | €409 | €287 | €3,329 | ▲ 1,058% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2025
30-10
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2024
30-10
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
31-03
Financial
Highest result since 2019net €22,636 ▲551%
Net result €22,636, the highest in the series.
2023
29-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
31-03
Financial
Back to profitnet €3,479
Net result €3,479 after 2 loss-making years.
31-03
Financial
Equity above €200,000Eq €200,961 ▲1.8%
Equity rises from €197,483 to €200,961.
2022
31-10
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2021
25-10
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
31-03
Financial
Weakest financial yearnet -€34,266
Net result drops to -€34,266, the lowest in the series; recovery starts the following year.
2020
02-10
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2019
01-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
04-10
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
26-09
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
27-09
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
6 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Herentals · 1 establishment unit since 1989
Ground area
277 m²
Building footprint
197 m²
Volume, LiDAR
1,182 m³
Parcel 13011F0264/00N003, Flanders · tallest building 11.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Nieuwstraat(HRT) 14, 2200 Herentals
since 19892.041.695.095
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13011F0264/00N003 | Flanders | 277 m² | 1 · 197 m² | 11.8 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 14,005 companies in sector 56301 we hold annual accounts for 4,893. 2,898 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded02-08-1988
Fiscal year end31-03
Activities, NACEBEL 2025
56301Cafés and bars
56112Limited-service restaurants, excluding mobile food services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0434924937
Registered
19-05-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.