FREE MAX
ActiveFREE MAX has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €968k and a net result of €214k. Equity is growing by ~38.6% per year across the filed fiscal years. Its solvency ranks better than 44% of 1987 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
63
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability46▼-43
Solvency67▲+9
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €60k at 30 days acceptable
Liquidity short (current ratio 0.16 against 0.14 in 2024; short-term debt: 42.6% and cash: 1.1% of total assets), and 58.2% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 90
Relative position
BE, all sectors
reference
Sector 90
lower
← 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 · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
41.8%
Return on assets
9.2%
Age of the figures
18 mo
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 31-10-2025, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
on the day
2023
3 d late
2022
3 d late
2021
3 d late
2020
26 d early
2019
284 d late
← before the deadline
after the deadline →
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 close22-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, micro schema
Equity
€968k▲ 28.3%
2024 · €754k
2019: €136k
2020: €176k
2021: €241k
2022: €250k
2023: €379k
2024: €754k
2019 → 2025
Total assets
€2.31M▲ 0.2%
2024 · €2.31M
2019: €453k
2020: €474k
2021: €508k
2022: €1.56M
2023: €1.64M
2024: €2.31M
2019 → 2025
Net result
€214k▼ 43.1%
2024 · €376k
2019: €85k
2020: €40k
2021: €65k
2022: €9k
2023: €128k
2024: €376k
2019 → 2025
Working capital
€-831k▲ 8.7%
2024 · €-909k
2019: €171k
2020: €86k
2021: €157k
2022: €-747k
2023: €-692k
2024: €-909k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€241k-€250k▲ 3.8%€379k▲ 51.3%€754k▲ 99.2%€968k▲ 28.3%
Operating result€102k-€19k▼ 81.6%€86k▲ 357%€83k▼ 3.4%€160k▲ 93.7%
Net result€65k-€9k▼ 85.9%€128k▲ 1,300%€376k▲ 193%€214k▼ 43.1%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 94% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.31M
Fixed assets
€2.16M▼ 0.4%
Current assets
€156k▲ 8.7%
Equity and liabilities €2.31M
Equity
€968k▲ 28.3%
Provisions
€0▼ 100%
Debt
€1.35M▼ 12.1%
The debt ratio falls from 66.3% to 58.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€178k▲
2024 · €106k
Cash flow
€232k▼
2024 · €399k
Solvency
41.8%▲
2024 · 32.6%
Current ratio
0.16▲
2024 · 0.14
Quick ratio
0.16▲
2024 · 0.14
Debt / equity
1.39▼
2024 · 2.03
ROE
22.1%▼
2024 · 49.8%
ROA
9.2%▼
2024 · 16.3%
Interest coverage
1.84▼
2024 · 8.85
Debt
€1.35M▼
2024 · €1.53M
Debt ≤ 1 year
€987k▼
2024 · €1.05M
Debt > 1 year
€360k▼
2024 · €478k
Income taxes
€40k▼
2024 · €70k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€2.31M€2.31M▲
Fixed assets21/28€2.17M€2.16M▼
Tangible fixed assets22/27€278k€270k▼
Land and buildings22€246k€245k▼
Plant, machinery and equipment23€3k€2k▼
Furniture and vehicles24€29k€23k▼
Financial fixed assets28€1.89M€1.89M=
Current assets29/58€144k€156k▲
Amounts receivable within one year40/41€137k€129k▼
Trade receivables40€42k€44k▲
Other amounts receivable41€96k€85k▼
Cash at bank and in hand54/58€5k€26k▲
Deferred charges and accrued income490/1€1k€1k=
Equity and liabilities
Total equity and liabilities10/49€2.31M€2.31M▲
Equity10/15€754k€968k▲
Contributions10/11€50k€50k=
Reserves13€77k€3k▼
Non-distributable reserves130/1€3k€3k=
Reserves not available under the articles1311€3k€3k=
Tax-exempt reserves132€74k€0▼
Profit (loss) carried forward14€628k€915k▲
Provisions and deferred taxes16€25k€0▼
Deferred taxes168€25k€0▼
Amounts payable17/49€1.53M€1.35M▼
Amounts payable after more than one year17€478k€360k▼
Financial debts170/4€475k€356k▼
Other amounts payable178/9€4k€4k=
Amounts payable within one year42/48€1.05M€987k▼
Current portion of amounts payable after more than one year42€128k€118k▼
Trade debts44€58k€25k▼
Suppliers440/4€58k€25k▼
Taxes, remuneration and social security45€49k€47k▼
Taxes450/3€49k€47k▼
Other amounts payable47/48€818k€797k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€23k€18k▼
Other operating charges640/8€4k€6k▲
Gross operating margin9900€110k€184k▲
Operating profit (loss)9901€83k€160k▲
Financial income75/76B€331k€166k▼
Recurring financial income75€331k€166k▼
Financial charges65/66B€12k€97k▲
Recurring financial charges65€12k€97k▲
Profit (loss) for the period before taxes9903€402k€229k▼
Transfer from deferred taxes780€43k€25k▼
Income taxes67/77€70k€40k▼
Profit (loss) for the period9904€376k€214k▼
Transfer from tax-exempt reserves789€130k€74k▼
Profit (loss) for the period to be appropriated9905€505k€288k▼
Appropriation of the result
Profit (loss) to be appropriated9906€628k€915k▲
Profit (loss) brought forward from the previous period14P€122k€628k▲
The notes to these accounts (15 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2025
31-10
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2024
31-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
31-03
Financial
Highest result since 2019net €376k ▲193%
Net result €376k, the highest in the series.
31-03
Financial
Equity above €500kEq €754k ▲99.2%
6 profitable years in a row build equity to €754k.
2023
03-11
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 3 days late
2022
03-11
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 3 days late
31-03
Financial
Weakest financial yearnet €9k ▼85.9%
Net result drops to €9k, the lowest in the series; recovery starts the following year.
2021
03-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 3 days late
31-03
Financial
Liquidity doublescurrent ratio 4.84
Current ratio from 2.30 to 4.84; short-term debt falls from €66k to €41k.
31-03
Financial
Equity above €200kEq €241k ▲36.8%
3 profitable years in a row build equity to €241k.
2020
05-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
10-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 284 days late
02-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 580 days late
31-03
Financial
Equity above €150kEq €176k ▲29.2%
2 profitable years in a row build equity to €176k.
2018
21-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 325 days late
2016
16-11
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 16 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 act for this company is 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, Welkenraedt · 2 establishment units since 2005
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Bois-les-Dames 134841 WelkenraedtGround area
795 m²
Building footprint
42 m²
Volume, LiDAR
171 m³
Parcel 63032E0222/00L000, Wallonia · tallest building 11.0 m, ±1 floor. Linked by address, not a title deed.
2 establishment units
FREE MAX
since 20052.145.823.904
FREE MAX
since 20052.145.824.201
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 63032E0222/00L000 | Wallonia | 795 m² | 1 · 41 m² | 11.0 m · 1 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Legal Entity Identifier
2549007QX090EVLKVO19
Similar companies · same sector, comparable size
HOMEWORKS
BE 0472.895.190
Elsene · Eq €966k
DELVOYE ART
BE 0479.012.724
Gent · Eq €970k
DAAN
BE 0468.153.474
Overijse · Eq €983k
YEPPER YEPPER
BE 0461.266.573
Lubbeek · Eq €988k
STUDIO HANS OP DE BEECK
BE 0885.566.943
Anderlecht · Eq €1.00M
Of 8,303 companies in sector 90201 we hold annual accounts for 602. 239 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded09-03-2005
Fiscal year end31-03
Activities, NACEBEL
43350Other building finishing work
90201Performing arts by independent artists
01410Raising of dairy cattle
68121Development of residential building projects
68122Development of non-residential building projects
43110Demolition
45111
68201Renting and operating of own or leased residential real estate, excluding social housing
70111
70112
70201
81300Landscape service activities
90202Performing arts by artistic ensembles
90021Arts creation and performing arts activities
90022Arts creation and performing arts activities
90391Promotion and organisation of arts and performing arts events
90392Design and construction of stages and sets
Sources
Crossroads Bank for EnterprisesNational Bank · 20 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
1 entryE-mail:info@fredcrosset.com