GlassMaxDesign
ActiveSummary
GlassMaxDesign has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €111k and a net result of €686. Equity is growing by ~3.8% per year across the filed fiscal years. Its solvency ranks better than 24% of 9040 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability49▼-22
Solvency45▼-5
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €5k at 30 days acceptable
Liquidity tight (current ratio 1.17 against 1.23 in 2023; short-term debt: 79.9% and cash: 0.2% of total assets), and 79.9% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
20.1%
Return on assets
0.1%
Age of the figures
21 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 24% of 9040 sector peers (2024).
NBB · sector comparisonPosition among 9040 sector peers
Solvency
better than 24%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-08-2025, 29 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
29 d late
2023
63 d late
2022
31 d late
2021
74 d late
2020
61 d late
2019
44 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, abbreviated schema
Equity
€111k▼ 22.3%
2023 · €143k
2018: €119k
2019: €120k▲ +0.8% vs 2018
2020: €128k▲ +7.0% vs 2019
2021: €158k▲ +23.4% vs 2020
2022: €159k▲ +0.3% vs 2021highest in 7 years
2023: €143k▼ -9.7% vs 2022
2024: €111k▼ -22.3% vs 2023lowest in 7 years
2018 → 2024
Total assets
€553k▼ 2.0%
2023 · €564k
2018: €710k
2019: €600k▼ -15.4% vs 2018
2020: €617k▲ +2.8% vs 2019
2021: €810k▲ +31.2% vs 2020highest in 7 years
2022: €620k▼ -23.5% vs 2021
2023: €564k▼ -9.0% vs 2022
2024: €553k▼ -2.0% vs 2023lowest in 7 years
2018 → 2024
Net result
€686▼ 93.8%
2023 · €11k
2018: €34khighest in 7 years
2019: €912▼ -97.3% vs 2018
2020: €8k▲ +819% vs 2019
2021: €30k▲ +258% vs 2020
2022: €507▼ -98.3% vs 2021lowest in 7 years
2023: €11k▲ +2065% vs 2022
2024: €686▼ -93.8% vs 2023
2018 → 2024
Working capital
€73k▼ 21.8%
2023 · €93k
2018: €133khighest in 7 years
2019: €113k▼ -15.2% vs 2018
2020: €107k▼ -5.1% vs 2019
2021: €104k▼ -3.1% vs 2020
2022: €102k▼ -1.6% vs 2021
2023: €93k▼ -8.8% vs 2022
2024: €73k▼ -21.8% vs 2023lowest in 7 years
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€128k-€158k▲ 23.4%€159k▲ 0.3%€143k▼ 9.7%€111k▼ 22.3%
2020: €128k
2021: €158k▲ +23.4% vs 2020
2022: €159k▲ +0.3% vs 2021highest in 5 years
2023: €143k▼ -9.7% vs 2022
2024: €111k▼ -22.3% vs 2023lowest in 5 years
Operating result€17k-€45k▲ 171%€13k▼ 71.5%€22k▲ 67.8%€11k▼ 51.2%
2020: €17k
2021: €45k▲ +171% vs 2020highest in 5 years
2022: €13k▼ -71.5% vs 2021
2023: €22k▲ +67.8% vs 2022
2024: €11k▼ -51.2% vs 2023lowest in 5 years
Net result€8k-€30k▲ 258%€507▼ 98.3%€11k▲ 2,065%€686▼ 93.8%
2020: €8k
2021: €30k▲ +258% vs 2020highest in 5 years
2022: €507▼ -98.3% vs 2021lowest in 5 years
2023: €11k▲ +2065% vs 2022
2024: €686▼ -93.8% vs 2023
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 51% below 2023 and is the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €553k
Fixed assets
€38k ▼ 33.7%
Current assets
€515k ▲ 1.7%
Equity and liabilities €553k
Equity
€111k ▼ 22.3%
Debt
€442k ▲ 5.0%
Debt's share of the balance-sheet total rises from 74.6% to 79.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€36k▼
2023 · €47k
Cash flow
€26k▼
2023 · €36k
Current ratio
1.17▼
2023 · 1.23
Debt to equity
3.96▲
2023 · 2.94
ROE
0.6%▼
2023 · 7.7%
ROA
0.1%▼
2023 · 1.9%
Interest coverage
3.63▼
2023 · 11.91
Debt ≤ 1 year
€442k▲
2023 · €413k
Debt > 1 year
€0▼
2023 · €8k
Income taxes
€3k▼
2023 · €12k
Staff costs
€105k▼
2023 · €127k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 60 lines
Balance sheet
Code20232024
Assets
Total assets20/58€564k€553k▼
Fixed assets21/28€58k€38k▼
Tangible fixed assets22/27€58k€38k▼
Plant, machinery and equipment23€5k€3k▼
Furniture and vehicles24€52k€35k▼
Financial fixed assets28€510€510=
Current assets29/58€506k€515k▲
Amounts receivable after more than one year29€47k€45k▼
Other amounts receivable291€47k€45k▼
Amounts receivable within one year40/41€357k€432k▲
Trade receivables40€288k€397k▲
Other amounts receivable41€70k€35k▼
Cash at bank and in hand54/58€97k€1k▼
Deferred charges and accrued income490/1€4k€36k▲
Equity and liabilities
Total equity and liabilities10/49€564k€553k▼
Equity10/15€143k€111k▼
Contributions10/11€19k€19k=
Reserves13€92k€61k▼
Non-distributable reserves130/1€2k€0▼
Reserves not available under the articles1311€2k€0▼
Tax-exempt reserves132€8k€8k=
Distributable reserves133€82k€52k▼
Profit (loss) carried forward14€32k€32k=
Amounts payable17/49€421k€442k▲
Amounts payable after more than one year17€8k€0▼
Financial debts170/4€8k€0▼
Amounts payable within one year42/48€413k€442k▲
Current portion of amounts payable after more than one year42€17k€8k▼
Financial debts43€102k€102k▲
Credit institutions430/8€102k€102k▲
Trade debts44€230k€270k▲
Suppliers440/4€230k€270k▲
Taxes, remuneration and social security45€16k€18k▲
Taxes450/3€12k€18k▲
Remuneration and social security454/9€5k€0▼
Other amounts payable47/48€47k€44k▼
Income statement
Code20232024
Non-recurring operating income76A€0-
Remuneration, social security and pensions62€127k€105k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€25k€25k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€20k€0▼
Other operating charges640/8€8k€6k▼
Non-recurring operating charges66A€0-
Gross operating margin9900€201k€146k▼
Operating profit (loss)9901€22k€11k▼
Financial income75/76B€5k€3k▼
Recurring financial income75€5k€3k▼
Financial charges65/66B€4k€10k▲
Recurring financial charges65€4k€10k▲
Profit (loss) for the period before taxes9903€23k€4k▼
Income taxes67/77€12k€3k▼
Profit (loss) for the period9904€11k€686▼
Profit (loss) for the period to be appropriated9905€11k€686▼
Appropriation of the result
Profit (loss) to be appropriated9906€43k€33k▼
Profit (loss) brought forward from the previous period14P€32k€32k=
Transfer from equity791/2€26k€33k▲
Transfer to equity691/2€11k€686▼
To other reserves6921€11k€686▼
Profit to be distributed694/7€26k€33k▲
Return on contributions (dividend)694€26k€33k▲
Social balance
Average headcount (FTE)90872.02.0=
The notes to these accounts (13 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €24k | €12k | €0 | - | - |
| Remuneration, social security and pensions62 | - | €82k | €115k | €127k | €105k | ▼ 17.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €20k | €19k | €25k | €25k | €25k | ▲ 0.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €20k | €0 | ▼ 100% |
| Other operating charges640/8 | - | €2k | €3k | €8k | €6k | ▼ 28.4% |
| Non-recurring operating charges66A | - | - | €500 | €0 | - | - |
| Gross operating margin9900 | €90k | €148k | €156k | €201k | €146k | ▼ 27.2% |
| Operating profit (loss)9901 | €17k | €45k | €13k | €22k | €11k | ▼ 51.2% |
| Financial income75/76B | - | €6k | €6k | €5k | €3k | ▼ 39.8% |
| Recurring financial income75 | €5k | €6k | €6k | €5k | €3k | ▼ 39.8% |
| Financial charges65/66B | - | €6k | €13k | €4k | €10k | ▲ 152% |
| Recurring financial charges65 | €11k | €6k | €13k | €4k | €10k | ▲ 152% |
| Profit (loss) for the period before taxes9903 | €11k | €45k | €6k | €23k | €4k | ▼ 84.0% |
| Income taxes67/77 | €3k | €15k | €5k | €12k | €3k | ▼ 74.8% |
| Profit (loss) for the period9904 | €8k | €30k | €507 | €11k | €686 | ▼ 93.8% |
| Profit (loss) for the period to be appropriated9905 | €8k | €30k | €507 | €11k | €686 | ▼ 93.8% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €617k | €810k | €620k | €564k | €553k | ▼ 2.0% |
| Fixed assets21/28 | €22k | €97k | €82k | €58k | €38k | ▼ 33.7% |
| Tangible fixed assets22/27 | €21k | €96k | €81k | €58k | €38k | ▼ 34.0% |
| Plant, machinery and equipment23 | - | €4k | €6k | €5k | €3k | ▼ 43.7% |
| Furniture and vehicles24 | - | €92k | €75k | €52k | €35k | ▼ 33.0% |
| Financial fixed assets28 | €510 | €510 | €510 | €510 | €510 | = |
| Current assets29/58 | €596k | €713k | €538k | €506k | €515k | ▲ 1.7% |
| Amounts receivable after more than one year29 | - | €52k | €49k | €47k | €45k | ▼ 4.9% |
| Trade receivables290 | - | €52k | - | - | - | - |
| Other amounts receivable291 | - | - | €49k | €47k | €45k | ▼ 4.9% |
| Amounts receivable within one year40/41 | €564k | €652k | €470k | €357k | €432k | ▲ 21.0% |
| Trade receivables40 | - | €446k | €273k | €288k | €397k | ▲ 38.0% |
| Other amounts receivable41 | - | €206k | €198k | €70k | €35k | ▼ 49.2% |
| Cash at bank and in hand54/58 | €27k | €6k | €9k | €97k | €1k | ▼ 99.0% |
| Deferred charges and accrued income490/1 | - | €4k | €10k | €4k | €36k | ▲ 731% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €617k | €810k | €620k | €564k | €553k | ▼ 2.0% |
| Equity10/15 | €128k | €158k | €159k | €143k | €111k | ▼ 22.3% |
| Contributions10/11 | - | €19k | €19k | €19k | €19k | = |
| Reserves13 | €77k | €107k | €108k | €92k | €61k | ▼ 34.5% |
| Non-distributable reserves130/1 | - | €2k | €2k | €2k | €0 | ▼ 100% |
| Reserves not available under the articles1311 | - | €2k | €2k | €2k | €0 | ▼ 100% |
| Tax-exempt reserves132 | - | €8k | €8k | €8k | €8k | = |
| Distributable reserves133 | - | €97k | €98k | €82k | €52k | ▼ 36.5% |
| Profit (loss) carried forward14 | €32k | €32k | €32k | €32k | €32k | = |
| Amounts payable17/49 | €489k | €652k | €461k | €421k | €442k | ▲ 5.0% |
| Amounts payable after more than one year17 | €454 | €42k | €25k | €8k | €0 | ▼ 100% |
| Financial debts170/4 | - | €42k | €25k | €8k | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €489k | €609k | €436k | €413k | €442k | ▲ 7.0% |
| Current portion of amounts payable after more than one year42 | - | €17k | €17k | €17k | €8k | ▼ 54.3% |
| Financial debts43 | - | €103k | €106k | €102k | €102k | ▲ 0.2% |
| Credit institutions430/8 | - | €103k | €106k | €102k | €102k | ▲ 0.2% |
| Trade debts44 | €370k | €469k | €288k | €230k | €270k | ▲ 17.8% |
| Suppliers440/4 | - | €469k | €288k | €230k | €270k | ▲ 17.8% |
| Taxes, remuneration and social security45 | - | €15k | €24k | €16k | €18k | ▲ 6.2% |
| Taxes450/3 | - | €15k | €19k | €12k | €18k | ▲ 50.5% |
| Remuneration and social security454/9 | - | - | €5k | €5k | €0 | ▼ 100% |
| Other amounts payable47/48 | - | €5k | €1k | €47k | €44k | ▼ 8.0% |
| Accrued charges and deferred income492/3 | - | €109 | - | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €8k | €30k | €507 | €11k | €686 | ▼ 93.8% |
| + Depreciation and write-downs630 | €20k | €19k | €25k | €25k | €25k | ▲ 0.6% |
| Operating cash flow (approximation) | €28k | €49k | €26k | €36k | €26k | ▼ 28.0% |
| Investment in fixed assets (approximation) | - | €-94k | €-10k | €-1k | €-6k | ▼ 299% |
| Change in cash | - | €-21k | €3k | €89k | €-96k | ▼ 209% |
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
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 29 days late
2024
02-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 63 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 31 days late
2022
31-12
Financial
Weakest financial yearnet €507 ▼98.3%
Net result drops to €507, the lowest in the series; recovery starts the following year.
13-10
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 74 days late
2021
31-12
Financial
Equity above €150kEq €158k ▲23.4%
4 profitable years in a row build equity to €158k.
30-09
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 61 days late
2020
17-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
12-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 12 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 31 days late
2017
28-09
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 59 days late
2016
30-09
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 61 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Hove · 1 establishment unit since 2008
Ground area
949 m²
Building footprint
241 m²
Volume, LiDAR
1,318 m³
Parcel 11021A0204/00Z005, Flanders · tallest building 10.8 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
GlassMaxDesign
since 20082.168.105.693
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11021A0204/00Z005 | Flanders | 949 m² | 1 · 241 m² | 10.8 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.
Public money · subsidies and aid
Flemish government
2022 to 2023 · 2 entries · 741 EUR awarded · 741 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 141 EUR | 141 EUR |
| 2022 | 1 | 600 EUR | 600 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 1,136 companies in sector 46130 we hold annual accounts for 646. 513 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
Founded14-01-2008
Fiscal year end31-12
Activities, NACEBEL 2025
43343Specialised construction activities
46130Agents in the wholesale of timber and building materials
46831Wholesale of construction materials, general range
47521Retail sale of hardware, building materials, paint and glass (general range)
71111Activities of building architects
Scores and ratios are computed by Checked and are not a credit decision.