Max
ActiveSummary
Max has been active since 1980 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €206,742 and a net result of -€1,354. Equity remains stable across the filed fiscal years (±1% per year). Its solvency ranks better than 95% of 14220 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability68▲+5
Solvency100▲+8
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €16,000 at 30 days acceptable
Liquidity ample (current ratio 3.08 against 0.44 in 2024; short-term debt: 3.8% and cash: 1% of total assets), and 3.9% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Three signals. The signal on the left, the evidence on the right.
−lowers 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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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 15-01-2026, 16 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
16 d early
2024
11 d early
2023
on the day
2022
20 d early
2021
on the day
2020
16 d late
2019
22 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 8 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% 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.
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, micro schema
In the rankings
#2 oldest company in Heusden-Zolder, Real estate sector
Equity
€206,742▼ 0.7%
2024 · €208,096
Total assets
€215,107▼ 30.8%
2024 · €310,960
Net result
-€1,354
2024 · €30,932
Working capital
€17,121
2024 · -€57,888
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate activities, 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-€11,525-€19,137▼ 66.1%€713€12,826▲ 1,698%-€292
Net result-€11,450below the sector's middle half-€21,929below the sector's middle half▼ 91.5%-€2,550within the sector's middle half▲ 88.4%€30,932above the sector's middle half-€1,354within the sector's middle half
Equity€198,578within the sector's middle half▼ 5.5%€179,714within the sector's middle half▼ 9.5%€177,164within the sector's middle half▼ 1.4%€208,096within the sector's middle half▲ 17.5%€206,742within the sector's middle half▼ 0.7%
Total assets€501,110within the sector's middle half▲ 3.4%€464,024within the sector's middle half▼ 7.4%€441,716within the sector's middle half▼ 4.8%€310,960within the sector's middle half▼ 29.6%€215,107within the sector's middle half▼ 30.8%
Debt€177,370▲ 21.5%€156,797▼ 11.6%€140,562▼ 10.4%€102,864▼ 26.8%€8,364▼ 91.9%
Working capital-€33,873-€29,965▲ 11.5%-€15,618▲ 47.9%-€57,888▼ 271%€17,121
Solvency39.6%within the sector's middle half▼ 3.7pp38.7%within the sector's middle half▼ 0.9pp40.1%within the sector's middle half▲ 1.4pp66.9%above the sector's middle half▲ 26.8pp96.1%above the sector's middle half▲ 29.2pp
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, 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
The operating result turns negative in 2025: a loss of €292 after €12,826 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €215,107
Fixed assets
€189,746 ▼ 28.7%
Current assets
€25,361 ▼ 43.6%
Equity and liabilities €215,107
Equity
€206,742 ▼ 0.7%
Debt
€8,364 ▼ 91.9%
Debt's share of the balance-sheet total falls from 33.1% to 3.9%. Equity and debt are lower.
Key figures and ratios
EBITDA
€9,954▼
2024 · €26,733
Cash flow
€8,892▼
2024 · €44,839
Current ratio
3.08▲
2024 · 0.44
Debt to equity
0.04▼
2024 · 0.49
ROE
-0.7%▼
2024 · 14.9%
ROA
-0.6%▼
2024 · 9.9%
Interest coverage
170.60▲
2024 · 3.86
Debt ≤ 1 year
€8,240▼
2024 · €102,864
Income taxes
€1,491▼
2024 · €98,960
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 12,321 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 90% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
0.6%
went bankrupt
8.5%
stopped otherwise
90%
still going
A further 0.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% 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 12,321 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €3,495 | - | €23,906 | €30,627 | ▲ 28.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €17,558 | €20,421 | €20,421 | €13,907 | €10,246 | ▼ 26.3% |
| Other operating charges640/8 | - | €4,911 | €4,117 | €8,962 | €7,353 | ▼ 18.0% |
| Non-recurring operating charges66A | - | €8,940 | - | - | - | - |
| Gross operating margin9900 | €16,944 | €15,134 | €25,251 | €35,695 | €17,307 | ▼ 51.5% |
| Operating profit (loss)9901 | -€11,525 | -€19,137 | €713 | €12,826 | -€292 | ▼ 102% |
| Financial income75/76B | - | €0 | €1 | €1 | €487 | ▲ 83,862% |
| Recurring financial income75 | €2,286 | €0 | €1 | €1 | €487 | ▲ 83,862% |
| Non-recurring financial income76B | - | - | - | €0 | - | - |
| Financial charges65/66B | - | €5,452 | €5,218 | €6,925 | €58 | ▼ 99.2% |
| Recurring financial charges65 | €3,913 | €5,452 | €5,218 | €6,925 | €58 | ▼ 99.2% |
| Profit (loss) for the period before taxes9903 | -€13,151 | -€24,589 | -€4,504 | €5,902 | €137 | ▼ 97.7% |
| Transfer from deferred taxes780 | - | €3,523 | €3,523 | €123,990 | - | - |
| Income taxes67/77 | €1,821 | €863 | €1,569 | €98,960 | €1,491 | ▼ 98.5% |
| Profit (loss) for the period9904 | -€11,450 | -€21,929 | -€2,550 | €30,932 | -€1,354 | ▼ 104% |
| Transfer from tax-exempt reserves789 | - | €6,842 | €6,842 | €240,793 | - | - |
| Profit (loss) for the period to be appropriated9905 | -€4,608 | -€15,087 | €4,292 | €271,725 | -€1,354 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €501,110 | €464,024 | €441,716 | €310,960 | €215,107 | ▼ 30.8% |
| Fixed assets21/28 | €475,113 | €454,692 | €434,272 | €265,984 | €189,746 | ▼ 28.7% |
| Tangible fixed assets22/27 | €474,913 | €454,492 | €434,072 | €265,784 | €154,546 | ▼ 41.9% |
| Land and buildings22 | - | €443,406 | €425,509 | €257,372 | €147,415 | ▼ 42.7% |
| Plant, machinery and equipment23 | - | €215 | €144 | €72 | €0 | ▼ 100% |
| Furniture and vehicles24 | - | €8,874 | €6,905 | €7,221 | €6,318 | ▼ 12.5% |
| Other tangible fixed assets26 | - | €1,997 | €1,514 | €1,120 | €813 | ▼ 27.4% |
| Financial fixed assets28 | €200 | €200 | €200 | €200 | €35,200 | ▲ 17,500% |
| Current assets29/58 | €25,997 | €9,332 | €7,444 | €44,977 | €25,361 | ▼ 43.6% |
| Amounts receivable within one year40/41 | €5,882 | €5,941 | €7,194 | €22,558 | €23,096 | ▲ 2.4% |
| Trade receivables40 | - | €5,941 | €7,194 | €15,611 | €18,504 | ▲ 18.5% |
| Other amounts receivable41 | - | - | - | €6,947 | €4,592 | ▼ 33.9% |
| Cash at bank and in hand54/58 | €18,273 | €3,391 | €251 | €22,419 | €2,176 | ▼ 90.3% |
| Deferred charges and accrued income490/1 | - | - | - | - | €88 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €501,110 | €464,024 | €441,716 | €310,960 | €215,107 | ▼ 30.8% |
| Equity10/15 | €198,578 | €179,714 | €177,164 | €208,096 | €206,742 | ▼ 0.7% |
| Contributions10/11 | - | €18,550 | €18,550 | €18,550 | €18,550 | = |
| Reserves13 | €254,221 | €250,444 | €243,602 | €189,546 | €188,192 | ▼ 0.7% |
| Non-distributable reserves130/1 | - | €2,808 | €2,808 | €2,808 | €2,808 | = |
| Reserves not available under the articles1311 | - | €2,808 | €2,808 | €2,808 | €2,808 | = |
| Tax-exempt reserves132 | - | €247,635 | €240,793 | - | - | - |
| Distributable reserves133 | - | - | - | €186,737 | €185,384 | ▼ 0.7% |
| Profit (loss) carried forward14 | -€74,193 | -€89,279 | -€84,988 | - | - | - |
| Provisions and deferred taxes16 | €125,161 | €127,513 | €123,990 | - | - | - |
| Deferred taxes168 | - | €127,513 | €123,990 | - | - | - |
| Amounts payable17/49 | €177,370 | €156,797 | €140,562 | €102,864 | €8,364 | ▼ 91.9% |
| Amounts payable after more than one year17 | €117,500 | €117,500 | €117,500 | - | - | - |
| Financial debts170/4 | - | €117,500 | €117,500 | - | - | - |
| Amounts payable within one year42/48 | €59,870 | €39,297 | €23,062 | €102,864 | €8,240 | ▼ 92.0% |
| Financial debts43 | - | - | €2,656 | - | - | - |
| Credit institutions430/8 | - | - | €2,656 | - | - | - |
| Trade debts44 | €5,920 | €7,916 | €1,831 | €465 | €2,831 | ▲ 509% |
| Suppliers440/4 | - | €7,916 | €1,831 | €465 | €2,831 | ▲ 509% |
| Advances received on contracts in progress46 | - | - | €1,715 | €523 | €1,020 | ▲ 95.0% |
| Taxes, remuneration and social security45 | - | €1,562 | €3,360 | €99,376 | €1,889 | ▼ 98.1% |
| Taxes450/3 | - | €1,562 | €3,360 | €99,376 | €1,889 | ▼ 98.1% |
| Other amounts payable47/48 | - | €29,819 | €13,500 | €2,500 | €2,500 | = |
| Accrued charges and deferred income492/3 | - | - | - | - | €124 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€11,450 | -€21,929 | -€2,550 | €30,932 | -€1,354 | ▼ 104% |
| + Depreciation and write-downs630 | €17,558 | €20,421 | €20,421 | €13,907 | €10,246 | ▼ 26.3% |
| Operating cash flow (approximation) | €6,109 | -€1,508 | €17,870 | €44,839 | €8,892 | ▼ 80.2% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €154,381 | €65,992 | ▼ 57.3% |
| Change in cash | - | -€14,882 | -€3,140 | €22,168 | -€20,242 | ▼ 191% |
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
15-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-06
Financial
Liquidity times 7current ratio 3.08
Current ratio from 0.44 to 3.08; short-term debt falls from €102,864 to €8,240.
20-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-06
Financial
Back to profitnet €30,932
Net result €30,932 after 3 loss-making years.
30-06
Financial
Equity above €200,000Eq €208,096 ▲17.5%
Equity rises from €177,164 to €208,096.
31-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
11-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-06
Financial
Weakest financial yearnet -€21,929
Net result drops to -€21,929, the lowest in the series; recovery starts the following year.
31-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
16-02
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 16 days late
2020
30-06
Financial
Highest result since 2019net €37,037 ▲173%
Operating result €59,406, net result €37,037, both a record.
30-06
Financial
Equity above €200,000Eq €210,027 ▲21.4%
2 profitable years in a row build equity to €210,027.
Show earlier events
09-01
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
13-12
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
26-02
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 26 days late
2017
30-01
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 5 acts read
About the unread acts
We know of 5 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
5 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, Heusden-Zolder · 1 establishment unit since 1980
Ground area
3,351 m²
Building footprint
266 m²
Volume, LiDAR
866 m³
Parcel 71462D0622/00P000, Flanders · tallest building 7.7 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
ISALATIECENTER
since 19802.017.217.245
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71462D0622/00P000 | Flanders | 3,351 m² | 1 · 266 m² | 7.7 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.
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Of 11,757 companies in sector 68310 we hold annual accounts for 6,914. 5,165 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
Founded06-02-1980
Fiscal year end30-06
Activities, NACEBEL 2025
68310Real estate agency activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0420196278
Also
9925:BE0420196278
Registered
09-10-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.