Summary
MAKX 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 €281,091 and a net result of €169,125. Equity remains stable across the filed fiscal years (±2.4% per year). Its solvency ranks better than 39% 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
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 22-12-2025, 40 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
40 d early
2024
98 d early
2023
76 d early
2022
68 d early
2021
64 d early
2020
46 d early
2019
39 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 62 days before 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 30-06-2026 and is due by 31-01-2027. Nothing is late today. Usually files around 24 November (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-06-2026 close28-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€281,091▼ 27.9%
2024 · €389,751
Net result
€169,125▲ 54.1%
2024 · €109,742
Total assets
€722,641▲ 35.2%
2024 · €534,404
Solvency
38.9%▼ 34.0pp
2024 · 72.9%
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€34,936▲ 23.1%€33,687▼ 3.6%€10,524▼ 68.8%€149,762▲ 1,323%€228,657▲ 52.7%
Net result€85,638within the sector's middle half▼ 19.7%€94,125within the sector's middle half▲ 9.9%€125,464within the sector's middle half▲ 33.3%€109,742within the sector's middle half▼ 12.5%€169,125within the sector's middle half▲ 54.1%
Equity€426,451within the sector's middle half▲ 20.9%€478,226within the sector's middle half▲ 12.1%€450,651within the sector's middle half▼ 5.8%€389,751within the sector's middle half▼ 13.5%€281,091within the sector's middle half▼ 27.9%
Total assets€538,909below the sector's middle half▲ 2.9%€528,597below the sector's middle half▼ 1.9%€584,894below the sector's middle half▲ 10.7%€534,404below the sector's middle half▼ 8.6%€722,641within the sector's middle half▲ 35.2%
Debt€112,458▼ 34.1%€50,372▼ 55.2%€134,244▲ 167%€144,653▲ 7.8%€441,551▲ 205%
Working capital€50,590within the sector's middle half▲ 18.3%€71,816within the sector's middle half▲ 42.0%€44,961within the sector's middle half▼ 37.4%-€14,028within the sector's middle half-€153,195within the sector's middle half▼ 992%
Solvency79.1%above the sector's middle half▲ 11.7pp90.5%above the sector's middle half▲ 11.3pp77.0%within the sector's middle half▼ 13.4pp72.9%within the sector's middle half▼ 4.1pp38.9%within the sector's middle half▼ 34.0pp
Current ratio1.62within the sector's middle half▲ 0.042.56within the sector's middle half▲ 0.941.33within the sector's middle half▼ 1.230.90within the sector's middle half▼ 0.430.60within the sector's middle half▼ 0.31
Return on assets (ROA)15.9%above the sector's middle half▼ 4.5pp17.8%above the sector's middle half▲ 1.9pp21.5%above the sector's middle half▲ 3.6pp20.5%above the sector's middle half▼ 0.9pp23.4%above the sector's middle half▲ 2.9pp
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.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 53% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €722,641
Fixed assets
€496,321 ▲ 22.9%
Current assets
€226,320 ▲ 73.3%
Equity and liabilities €722,641
Equity
€281,091 ▼ 27.9%
Debt
€441,551 ▲ 205%
Debt's share of the balance-sheet total rises from 27.1% to 61.1%. Equity is lower and debt is higher.
Key figures and ratios
ROE
60.2%▲
2024 · 28.2%
Debt ≤ 1 year
€379,516▲
2024 · €144,653
Debt > 1 year
€62,035
Income taxes
€58,577▲
2024 · €39,835
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 | €2,042 | €3,747 | €5,159 | €4,248 | €2,536 | ▼ 40.3% |
| Other operating charges640/8 | - | €619 | €1,102 | €1,050 | €987 | ▼ 6.0% |
| Gross operating margin9900 | €37,908 | €38,053 | €16,785 | €155,060 | €232,180 | ▲ 49.7% |
| Operating profit (loss)9901 | €34,936 | €33,687 | €10,524 | €149,762 | €228,657 | ▲ 52.7% |
| Financial income75/76B | - | €80,001 | €120,000 | €0 | - | - |
| Recurring financial income75 | €70,000 | €80,001 | €120,000 | €0 | - | - |
| Financial charges65/66B | - | €1,191 | €563 | €185 | €955 | ▲ 415% |
| Recurring financial charges65 | €1,725 | €1,191 | €563 | €185 | €955 | ▲ 415% |
| Profit (loss) for the period before taxes9903 | €103,211 | €112,496 | €129,961 | €149,576 | €227,702 | ▲ 52.2% |
| Income taxes67/77 | €17,573 | €18,372 | €4,497 | €39,835 | €58,577 | ▲ 47.0% |
| Profit (loss) for the period9904 | €85,638 | €94,125 | €125,464 | €109,742 | €169,125 | ▲ 54.1% |
| Profit (loss) for the period to be appropriated9905 | €85,638 | €94,125 | €125,464 | €109,742 | €169,125 | ▲ 54.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €538,909 | €528,597 | €584,894 | €534,404 | €722,641 | ▲ 35.2% |
| Fixed assets21/28 | €406,774 | €410,848 | €405,690 | €403,779 | €496,321 | ▲ 22.9% |
| Tangible fixed assets22/27 | €6,734 | €10,808 | €5,650 | €3,739 | €96,281 | ▲ 2,475% |
| Plant, machinery and equipment23 | - | - | - | €1,878 | €1,294 | ▼ 31.1% |
| Furniture and vehicles24 | - | €3,511 | €1,070 | €0 | €93,760 | - |
| Other tangible fixed assets26 | - | €7,297 | €4,579 | €1,861 | €1,228 | ▼ 34.0% |
| Financial fixed assets28 | €400,040 | €400,040 | €400,040 | €400,040 | €400,040 | = |
| Current assets29/58 | €132,135 | €117,749 | €179,205 | €130,625 | €226,320 | ▲ 73.3% |
| Amounts receivable within one year40/41 | €27,332 | €108 | €22,709 | €25,883 | €28,362 | ▲ 9.6% |
| Trade receivables40 | - | €108 | €12,197 | €25,713 | €28,233 | ▲ 9.8% |
| Other amounts receivable41 | - | €0 | €10,512 | €170 | €130 | ▼ 23.9% |
| Cash at bank and in hand54/58 | €103,566 | €116,095 | €34,880 | €73,121 | €196,940 | ▲ 169% |
| Deferred charges and accrued income490/1 | - | €1,546 | €121,616 | €31,621 | €1,018 | ▼ 96.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €538,909 | €528,597 | €584,894 | €534,404 | €722,641 | ▲ 35.2% |
| Equity10/15 | €426,451 | €478,226 | €450,651 | €389,751 | €281,091 | ▼ 27.9% |
| Contributions10/11 | - | €12,400 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €414,051 | €465,826 | €432,051 | €371,151 | €262,491 | ▼ 29.3% |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €0 | - | - |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | €0 | - | - |
| Distributable reserves133 | - | €463,966 | €430,191 | €371,151 | €262,491 | ▼ 29.3% |
| Profit (loss) carried forward14 | €0 | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €112,458 | €50,372 | €134,244 | €144,653 | €441,551 | ▲ 205% |
| Amounts payable after more than one year17 | €30,914 | €4,438 | €0 | - | €62,035 | - |
| Financial debts170/4 | - | €4,438 | €0 | - | €62,035 | - |
| Amounts payable within one year42/48 | €81,544 | €45,933 | €134,244 | €144,653 | €379,516 | ▲ 162% |
| Current portion of amounts payable after more than one year42 | - | €26,475 | €4,438 | €0 | €15,305 | - |
| Trade debts44 | €709 | €1,803 | €1,601 | €3,052 | €1,556 | ▼ 49.0% |
| Suppliers440/4 | - | €1,803 | €1,601 | €3,052 | €1,556 | ▼ 49.0% |
| Taxes, remuneration and social security45 | - | €7,529 | €19,677 | €31,985 | €51,918 | ▲ 62.3% |
| Taxes450/3 | - | €7,529 | €19,677 | €31,985 | €51,918 | ▲ 62.3% |
| Other amounts payable47/48 | - | €10,126 | €108,527 | €109,616 | €310,737 | ▲ 183% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €85,638 | €94,125 | €125,464 | €109,742 | €169,125 | ▲ 54.1% |
| + Depreciation and write-downs630 | €2,042 | €3,747 | €5,159 | €4,248 | €2,536 | ▼ 40.3% |
| Operating cash flow (approximation) | €87,680 | €97,872 | €130,623 | €113,990 | €171,661 | ▲ 50.6% |
| Investment in fixed assets (approximation) | - | -€7,821 | €0 | -€2,338 | -€95,078 | ▼ 3,967% |
| Change in cash | - | €12,529 | -€81,215 | €38,241 | €123,819 | ▲ 224% |
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
22-12
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
30-06
Financial
Highest result since 2019net €169,125 ▲54.1%
Operating result €228,657, net result €169,125, both a record.
2024
25-10
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2023
16-11
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2022
24-11
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2021
28-11
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
30-06
Financial
Weakest financial yearnet €85,638 ▼19.7%
Net result drops to €85,638, the lowest in the series; recovery starts the following year.
2020
16-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2019
23-12
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
21-12
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
12-12
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
19-12
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 2 acts read
About the unread acts
We know of 2 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
2 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, Schoten · 1 establishment unit since 2015
Ground area
1,197 m²
Building footprint
170 m²
Volume, LiDAR
600 m³
Parcel 11040D0276/00R000, Flanders · tallest building 5.6 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
MAKX
since 20152.243.691.954
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11040D0276/00R000 | Flanders | 1,197 m² | 1 · 170 m² | 5.6 m · 1 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.
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 30-06-2025 list no shareholders, and no other source names one.
Holdings 1
-
20%
According to the annual accounts to 30-06-2025 of MAKX 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.
Public money · subsidies and aid
Flemish government
2023 to 2024 · 2 entries · 3,221 EUR awarded · 3,221 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 1,721 EUR | 1,721 EUR |
| 2023 | 1 | 1,500 EUR | 1,500 EUR |
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Of 24,729 companies in sector 64210 we hold annual accounts for 19,799. 13,743 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
Founded03-07-2015
Fiscal year end30-06
Activities, NACEBEL 2025
64210Activities of holding companies
E-invoicing
Reachable via Peppol
Peppol ID
0208:0632997848
Registered
08-04-2025
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.