Gmax
ActiveSummary
Gmax has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €154,094 and a net result of €59,619. Equity is growing by ~21.8% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+100
Solvency100=
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €13,000 at 30 days acceptable
Liquidity ample (current ratio 4.48 against 8.7 in 2024; short-term debt: 19.4% and cash: 31.6% of total assets), and 19.4% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
80.6%
Return on assets
31.2%
Age of the figures
12 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 30-04-2026, 0 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
on the day
2024
on the day
2023
on the day
2022
2 d late
2021
5 d late
2020
4 d early
2019
31 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 4 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today. Usually files around 1 May (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today30-09-2026 close30-04-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€154,094▲ 63.1%
2024 · €94,475
Total assets
€191,106▲ 73.6%
2024 · €110,109
Net result
€59,619
2024 · -€17,168
Working capital
€128,856▲ 32.2%
2024 · €97,451
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€54,555▲ 210%€20,234▼ 62.9%€10,374▼ 48.7%-€14,374€61,849
Net result€44,851▲ 198%€11,246▼ 74.9%€5,224▼ 53.5%-€17,168€59,619
Equity€95,173▲ 89.1%€106,419▲ 11.8%€111,643▲ 4.9%€94,475▼ 15.4%€154,094▲ 63.1%
Total assets€247,206▲ 16.0%€291,017▲ 17.7%€227,101▼ 22.0%€110,109▼ 51.5%€191,106▲ 73.6%
Debt€152,033▼ 6.6%€184,598▲ 21.4%€115,458▼ 37.5%€15,634▼ 86.5%€37,012▲ 137%
Working capital€42,830▲ 176%€62,126▲ 45.1%€68,819▲ 10.8%€97,451▲ 41.6%€128,856▲ 32.2%
Staff (FTE)4.3▲ 30.3%5.9▲ 37.2%3.9▼ 33.9%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €61,849 after a loss of €14,374 in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €191,106
Fixed assets
€25,238
Current assets
€165,868
Equity and liabilities €191,106
Equity
€154,094 ▲ 63.1%
Debt
€37,012 ▲ 137%
Debt's share of the balance-sheet total rises from 14.2% to 19.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€63,726
Cash flow
€61,496
Current ratio
4.48▼
2024 · 8.70
Debt to equity
0.24▲
2024 · 0.17
ROE
38.7%▲
2024 · -18.2%
ROA
31.2%▲
2024 · -15.6%
Interest coverage
48.26
Debt ≤ 1 year
€37,012▲
2024 · €12,659
Income taxes
€14,118
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,970 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.5%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.3% 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 497,662 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% | 1.7% |
| 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 75% 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 26,970 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 | €147,211 | €249,741 | €169,846 | €24,456 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €18,914 | €20,881 | €16,036 | - | €1,877 | - |
| Other operating charges640/8 | €1,397 | €410 | €437 | €2,862 | €583 | ▼ 79.6% |
| Non-recurring operating charges66A | - | - | €80 | €1,113 | - | - |
| Gross operating margin9900 | €222,078 | €291,265 | €196,773 | €14,056 | €64,308 | ▲ 358% |
| Operating profit (loss)9901 | €54,555 | €20,234 | €10,374 | -€14,374 | €61,849 | ▲ 530% |
| Financial income75/76B | - | €66 | €0 | - | €13,209 | - |
| Recurring financial income75 | - | €66 | €0 | - | €13,209 | - |
| Financial charges65/66B | €1,278 | €4,916 | €2,560 | €2,794 | €1,321 | ▼ 52.7% |
| Recurring financial charges65 | €1,278 | €4,916 | €2,560 | €2,794 | €1,321 | ▼ 52.7% |
| Profit (loss) for the period before taxes9903 | €53,277 | €15,383 | €7,814 | -€17,168 | €73,737 | ▲ 530% |
| Income taxes67/77 | €8,426 | €4,138 | €2,590 | - | €14,118 | - |
| Profit (loss) for the period9904 | €44,851 | €11,246 | €5,224 | -€17,168 | €59,619 | ▲ 447% |
| Profit (loss) for the period to be appropriated9905 | €44,851 | €11,246 | €5,224 | -€17,168 | €59,619 | ▲ 447% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €247,206 | €291,017 | €227,101 | €110,109 | €191,106 | ▲ 73.6% |
| Fixed assets21/28 | €52,343 | €44,553 | €43,113 | - | €25,238 | - |
| Tangible fixed assets22/27 | €52,343 | €44,553 | €43,113 | - | €25,238 | - |
| Land and buildings22 | €3,730 | €2,971 | €2,916 | - | - | - |
| Plant, machinery and equipment23 | €48,613 | €41,582 | €40,197 | - | €8,388 | - |
| Furniture and vehicles24 | - | - | - | - | €749 | - |
| Other tangible fixed assets26 | - | - | - | - | €16,100 | - |
| Current assets29/58 | €194,863 | €246,464 | €183,989 | €110,109 | €165,868 | ▲ 50.6% |
| Stocks and contracts in progress3 | €995 | - | - | - | - | - |
| Stocks30/36 | €995 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €48,649 | €55,006 | €1,472 | €14,109 | €105,128 | ▲ 645% |
| Trade receivables40 | €26,167 | €49,438 | €1,472 | €14,109 | €63,306 | ▲ 349% |
| Other amounts receivable41 | €22,481 | €5,568 | - | - | €41,822 | - |
| Cash at bank and in hand54/58 | €145,013 | €191,458 | €182,516 | €95,768 | €60,445 | ▼ 36.9% |
| Deferred charges and accrued income490/1 | €207 | - | - | €233 | €296 | ▲ 26.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €247,206 | €291,017 | €227,101 | €110,109 | €191,106 | ▲ 73.6% |
| Equity10/15 | €95,173 | €106,419 | €111,643 | €94,475 | €154,094 | ▲ 63.1% |
| Contributions10/11 | €11,720 | €11,720 | €11,720 | €11,720 | €11,720 | = |
| Reserves13 | €83,453 | €83,453 | €88,677 | €87,677 | €142,374 | ▲ 62.4% |
| Non-distributable reserves130/1 | €1,000 | €1,000 | €1,000 | - | - | - |
| Other1319 | €1,000 | €1,000 | €1,000 | - | - | - |
| Distributable reserves133 | €82,453 | €82,453 | €87,677 | €87,677 | €142,374 | ▲ 62.4% |
| Profit (loss) carried forward14 | - | €11,246 | €11,246 | -€4,922 | - | - |
| Amounts payable17/49 | €152,033 | €184,598 | €115,458 | €15,634 | €37,012 | ▲ 137% |
| Amounts payable within one year42/48 | €152,033 | €184,337 | €115,170 | €12,659 | €37,012 | ▲ 192% |
| Trade debts44 | €117,322 | €147,761 | €92,753 | €4,861 | €11,127 | ▲ 129% |
| Suppliers440/4 | €117,322 | €147,761 | €92,753 | €4,861 | €11,127 | ▲ 129% |
| Advances received on contracts in progress46 | - | - | €1,720 | - | - | - |
| Taxes, remuneration and social security45 | €34,712 | €36,577 | €20,697 | €7,092 | €25,885 | ▲ 265% |
| Taxes450/3 | €8,579 | €6,996 | €7,142 | €3,050 | €14,139 | ▲ 363% |
| Remuneration and social security454/9 | €26,133 | €29,581 | €13,556 | €4,042 | €11,746 | ▲ 191% |
| Other amounts payable47/48 | - | - | - | €705 | - | - |
| Accrued charges and deferred income492/3 | - | €261 | €288 | €2,975 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €44,851 | €11,246 | €5,224 | -€17,168 | €59,619 | ▲ 447% |
| + Depreciation and write-downs630 | €18,914 | €20,881 | €16,036 | - | €1,877 | - |
| Operating cash flow (approximation) | €63,765 | €32,127 | €21,260 | -€17,168 | €61,496 | ▲ 458% |
| Investment in fixed assets (approximation) | - | -€13,091 | -€14,595 | - | - | - |
| Change in cash | - | €46,445 | -€8,942 | -€86,749 | -€35,323 | ▲ 59.3% |
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
2026
30-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Back to profitnet €59,619
Net result €59,619 after one loss-making year.
30-09
Financial
Equity above €150,000Eq €154,094 ▲63.1%
Equity rises from €94,475 to €154,094.
30-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-09
Financial
Weakest financial yearnet -€17,168
Net result drops to -€17,168, the lowest in the series; recovery starts the following year.
30-09
Financial
Liquidity times 5current ratio 8.70
Current ratio from 1.60 to 8.70; short-term debt falls from €115,170 to €12,659.
30-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
02-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 2 days late
2022
30-09
Financial
Equity above €100,000Eq €106,419 ▲11.8%
4 profitable years in a row build equity to €106,419.
05-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 5 days late
2021
26-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-03
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
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, Hasselt · 1 establishment unit since 2017
Ground area
1,626 m²
Building footprint
884 m²
Parcel 71327G0318/00D000, Flanders. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
Gmax
since 20172.266.151.612
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71327G0318/00D000 | Flanders | 1,626 m² | 1 · 884 m² | - |
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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteHasselt2.266.151.612
Legal Entity Identifier
98450091DCD7M601CB74
Identification & contact
Identification
Legal formPrivate limited company
Founded28-06-2017
Fiscal year end30-09
Activities, NACEBEL 2025
64210Activities of holding companies
68201Renting and operating of own or leased residential real estate, excluding social housing
70200Business and other management consultancy
82300Organisation of conventions and trade shows
E-invoicing
Reachable via Peppol
Peppol ID
0208:0677646255
Registered
22-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.