Summary
Maksor is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €1.4m and a net result of €923,716. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 68% of 5587 sector peers (fiscal year 2025). The company has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
Two signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
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
1819202122232425
2018 to 2025 · latest year €1.4m
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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
31 d late
2024
46 d late
2023
62 d late
2022
31 d late
2021
61 d late
2020
30 d late
2019
88 d late
← 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 50 days after the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 15 September (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€1.4m▲ 204%
2024 · €453,228
Net result
€923,716▲ 373%
2024 · €195,143
Total assets
€1.9m▲ 72.5%
2024 · €1.1m
Solvency
71.6%▲ 30.9pp
2024 · 40.6%
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€149,680▲ 234%€200,647▲ 34.1%€164,543▼ 18.0%€129,495▼ 21.3%-€25,083
Net result€113,386above the sector's middle half▲ 255%€145,022above the sector's middle half▲ 27.9%€214,990above the sector's middle half▲ 48.2%€195,143within the sector's middle half▼ 9.2%€923,716above the sector's middle half▲ 373%
Equity€48,074within the sector's middle half▼ 29.8%€43,096within the sector's middle half▼ 10.4%€258,086within the sector's middle half▲ 499%€453,228below the sector's middle half▲ 75.6%€1.4mwithin the sector's middle half▲ 204%
Total assets€222,794within the sector's middle half▲ 21.6%€251,817within the sector's middle half▲ 13.0%€671,291within the sector's middle half▲ 167%€1.1mbelow the sector's middle half▲ 66.1%€1.9mwithin the sector's middle half▲ 72.5%
Debt€174,720▲ 52.3%€208,721▲ 19.5%€413,205▲ 98.0%€661,763▲ 60.2%€546,644▼ 17.4%
Working capital-€77,565below the sector's middle half▼ 45.2%-€82,675below the sector's middle half▼ 6.6%-€19,208within the sector's middle half▲ 76.8%-€129,101within the sector's middle half▼ 572%€910,553above the sector's middle half
Solvency21.6%below the sector's middle half▼ 15.8pp17.1%below the sector's middle half▼ 4.5pp38.4%within the sector's middle half▲ 21.3pp40.6%within the sector's middle half▲ 2.2pp71.6%within the sector's middle half▲ 30.9pp
Current ratio0.56below the sector's middle half▲ 0.050.60below the sector's middle half▲ 0.050.87within the sector's middle half▲ 0.260.38within the sector's middle half▼ 0.497.87above the sector's middle half▲ 7.49
Return on assets (ROA)50.9%above the sector's middle half▲ 33.5pp57.6%above the sector's middle half▲ 6.7pp32.0%above the sector's middle half▼ 25.6pp17.5%above the sector's middle half▼ 14.5pp48.0%above the sector's middle half▲ 30.5pp
Staff (FTE)0within the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings.
Why a figure moved sharply
- 2025 Net result +373% on 2024. The accounts now follow the abbreviated schema, last year the full schema.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €25,083 after €129,495 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.9m
Fixed assets
€880,480 ▼ 15.1%
Current assets
€1.0m ▲ 1,243%
Equity and liabilities €1.9m
Equity
€1.4m ▲ 204%
Debt
€546,644 ▼ 17.4%
Debt's share of the balance-sheet total falls from 59.4% to 28.4%. Equity is higher and debt is lower.
Key figures and ratios
ROE
67.1%▲
2024 · 43.1%
Debt ≤ 1 year
€132,555▼
2024 · €206,799
Debt > 1 year
€411,964▼
2024 · €454,398
Income taxes
€342▼
2024 · €20,136
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,771 | €2,548 | €15,345 | €90,639 | €72,062 | ▼ 20.5% |
| Other operating charges640/8 | €2,207 | €1,073 | €852 | €10,325 | €4,314 | ▼ 58.2% |
| Gross operating margin9900 | €154,659 | €204,268 | €180,740 | €230,459 | €51,294 | ▼ 77.7% |
| Operating profit (loss)9901 | €149,680 | €200,647 | €164,543 | €129,495 | -€25,083 | ▼ 119% |
| Financial income75/76B | €1,044 | €547 | €90,313 | €105,082 | €970,623 | ▲ 824% |
| Recurring financial income75 | €1,044 | €547 | €90,313 | €105,082 | €40,856 | ▼ 61.1% |
| Non-recurring financial income76B | - | - | - | - | €929,767 | - |
| Financial charges65/66B | €521 | €695 | €1,132 | €19,298 | €21,482 | ▲ 11.3% |
| Recurring financial charges65 | €521 | €695 | €1,132 | €19,298 | €19,982 | ▲ 3.5% |
| Non-recurring financial charges66B | - | - | - | - | €1,500 | - |
| Profit (loss) for the period before taxes9903 | €150,202 | €200,499 | €253,724 | €215,278 | €924,057 | ▲ 329% |
| Income taxes67/77 | €36,817 | €55,477 | €38,734 | €20,136 | €342 | ▼ 98.3% |
| Profit (loss) for the period9904 | €113,386 | €145,022 | €214,990 | €195,143 | €923,716 | ▲ 373% |
| Transfer to tax-exempt reserves689 | - | - | - | €42,100 | €42,100 | = |
| Profit (loss) for the period to be appropriated9905 | €113,386 | €145,022 | €214,990 | €153,043 | €881,616 | ▲ 476% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €222,794 | €251,817 | €671,291 | €1.1m | €1.9m | ▲ 72.5% |
| Fixed assets21/28 | €125,639 | €125,771 | €548,203 | €1.0m | €880,480 | ▼ 15.1% |
| Tangible fixed assets22/27 | €3,906 | €4,038 | €426,470 | €915,560 | €880,480 | ▼ 3.8% |
| Land and buildings22 | - | - | €420,535 | €764,537 | €733,068 | ▼ 4.1% |
| Furniture and vehicles24 | €3,906 | €4,038 | €5,935 | €151,023 | €126,516 | ▼ 16.2% |
| Other tangible fixed assets26 | - | - | - | - | €20,896 | - |
| Financial fixed assets28 | €121,733 | €121,733 | €121,733 | €121,733 | €0 | ▼ 100% |
| Current assets29/58 | €97,155 | €126,046 | €123,088 | €77,698 | €1.0m | ▲ 1,243% |
| Amounts receivable after more than one year29 | €15,550 | €15,550 | €15,550 | €15,550 | €1.0m | ▲ 6,331% |
| Other amounts receivable291 | €15,550 | €15,550 | €15,550 | €15,550 | €1.0m | ▲ 6,331% |
| Amounts receivable within one year40/41 | €3,241 | €32,365 | €27,903 | €31,422 | €10,595 | ▼ 66.3% |
| Trade receivables40 | €2,085 | €32,365 | €21,544 | €25,064 | €10,595 | ▼ 57.7% |
| Other amounts receivable41 | €1,156 | - | €6,358 | €6,358 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €77,803 | €76,391 | €74,786 | €22,560 | €12,119 | ▼ 46.3% |
| Deferred charges and accrued income490/1 | €561 | €1,740 | €4,850 | €8,166 | €20,395 | ▲ 150% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €222,794 | €251,817 | €671,291 | €1.1m | €1.9m | ▲ 72.5% |
| Equity10/15 | €48,074 | €43,096 | €258,086 | €453,228 | €1.4m | ▲ 204% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €22,160 | €22,160 | €22,160 | €64,260 | €106,360 | ▲ 65.5% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | - | - | - |
| Tax-exempt reserves132 | - | - | - | €42,100 | €84,200 | ▲ 100% |
| Distributable reserves133 | €20,300 | €20,300 | €20,300 | €22,160 | €22,160 | = |
| Profit (loss) carried forward14 | €7,314 | €2,336 | €217,326 | €370,368 | €1.3m | ▲ 238% |
| Amounts payable17/49 | €174,720 | €208,721 | €413,205 | €661,763 | €546,644 | ▼ 17.4% |
| Amounts payable after more than one year17 | - | - | €270,910 | €454,398 | €411,964 | ▼ 9.3% |
| Financial debts170/4 | - | - | €270,910 | €454,398 | €411,964 | ▼ 9.3% |
| Amounts payable within one year42/48 | €174,720 | €208,721 | €142,296 | €206,799 | €132,555 | ▼ 35.9% |
| Current portion of amounts payable after more than one year42 | €6,521 | - | €14,090 | €40,768 | €42,434 | ▲ 4.1% |
| Trade debts44 | €4,992 | €10,967 | €6,337 | €20,151 | €20,570 | ▲ 2.1% |
| Suppliers440/4 | €4,992 | €10,967 | €6,337 | €20,151 | €20,570 | ▲ 2.1% |
| Taxes, remuneration and social security45 | €20,102 | €45,246 | €32,041 | €28,558 | €21,914 | ▼ 23.3% |
| Taxes450/3 | €20,102 | €42,719 | €29,541 | €26,058 | €21,914 | ▼ 15.9% |
| Remuneration and social security454/9 | - | €2,528 | €2,500 | €2,500 | €0 | ▼ 100% |
| Other amounts payable47/48 | €143,105 | €152,507 | €89,827 | €117,323 | €47,637 | ▼ 59.4% |
| Accrued charges and deferred income492/3 | - | - | - | €566 | €2,125 | ▲ 275% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €113,386 | €145,022 | €214,990 | €195,143 | €923,716 | ▲ 373% |
| + Depreciation and write-downs630 | €2,771 | €2,548 | €15,345 | €90,639 | €72,062 | ▼ 20.5% |
| Operating cash flow (approximation) | €116,157 | €147,570 | €230,335 | €285,782 | €995,778 | ▲ 248% |
| Investment in fixed assets (approximation) | - | -€2,680 | -€437,777 | -€579,729 | €84,751 | ▲ 115% |
| Change in cash | - | -€1,412 | -€1,606 | -€52,226 | -€10,441 | ▲ 80.0% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 31 days late
2025
31-12
Financial
Highest result since 2018net €923,716 ▲373%
Net result €923,716, the highest in the series.
31-12
Financial
Liquidity times 21current ratio 7.87
Current ratio from 0.38 to 7.87; short-term debt falls from €206,799 to €132,555.
31-12
Financial
Equity above €1mEq €1.4m ▲204%
8 profitable years in a row build equity to €1.4m.
15-09
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 46 days late
2024
01-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 62 days late
2023
31-12
Financial
Equity above €200,000Eq €258,086 ▲499%
6 profitable years in a row build equity to €258,086.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
30-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 61 days late
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 30 days late
2020
27-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 88 days late
2019
31-12
Financial
Weakest financial yearnet €4,658 ▼46.7%
Net result drops to €4,658, the lowest in the series; recovery starts the following year.
Show earlier events
26-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 31 days late
2017
30-06
NBB filing
Annual accounts filed
fiscal year 2016 · full 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, Braine-le-Château · 1 establishment unit since 2015
Ground area
2,050 m²
Building footprint
217 m²
Volume, LiDAR
2,117 m³
2 parcels, Brussels, Wallonia · tallest building 18.2 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
Notelaarstraat 228, 1030 Schaarbeek
since 20152.241.792.140
2 parcels
Wallonia
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25111A0075/00M002 | Wallonia | 1,929 m² | 1 · 120 m² | 8.1 m · 2 fl. |
| 21905C0017/00S003 | Brussels | 121 m² | 1 · 97 m² | 18.2 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
2 holdingsOwners 0
The accounts to 31-12-2024 list no shareholders, and no other source names one.
Holdings 2
-
30%
-
30%
According to the 2024 annual accounts of Maksor and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 24,729 companies in sector 64210 we hold annual accounts for 19,799. 11,969 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
Founded23-04-2015
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
68201Renting and operating of own or leased residential real estate, excluding social housing
68203Renting and operating of own or leased non-residential real estate, excluding land
70200Business and other management consultancy
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0628832786
Registered
02-12-2025
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.