MAX
ActiveSummary
The computed 12-month bankruptcy probability of MAX is 1.7% (moderate). The 2025 annual accounts show equity of €54,949 and a net result of -€5,433. Equity has been growing by about 15% per year since 2018. Its solvency ranks better than 71% of 16,996 sector peers (NACE 56, financial year 2025). The company has been active since 1996 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 24-12-1996 Normal situation
- Activity
- Full-service restaurants NACE 56111and 1 other
- Joint committee
- 302 Paritair Comité voor het hotelbedrijf · annual accounts 2025
- Establishment unit
- 2.081.130.644 4000 Liège, since 02-04-1997
- Financial year end
- 31 December
- Peppol
- Reachable since 17-09-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- 1.7%
Annual accounts 2025
- Gross margin
- €16,993
- ▼ 65.2%
- Turnover
- ≈ €180,000
- estimated
- Loss
- €5,433
- Equity
- €54,949
- ▼ 21.9%
- Total assets
- €100,977
- ▼ 20.8%
- Staff
- 3.2 FTE
- ▲ 10.3%
- €1,238 of overdue tax debts on 31-12-2025
- 2025 accounts filed 31 days after the deadline
Score breakdownraises riskSector: Food and beverage service activities (NACE 56)Last filed accounts filed 31 days late; 1 of the last 3 accounts lateLoss of €5,433 (financial year 2025)lowers riskFounded in 1996Show the evidence
Checked score
Score 2025
55
/ 100
Fair
Probability in this band: 1.5% to 4.2%
Financially stronger than 38% of micro companies in food and beverage service (NACE 56)
Financial strength · tick: 2024
Average
Solvency
79-1
equity 54.4% of total assets
Liquidity
35-25
short-term debt 35.4% · cash 0.9%
Profitability
24-63
return on assets -5.4%
Bankruptcy probability within 12 months
1.7%
Moderate
0%0.5%1.5%4%10%≥ 25%
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 1.7%
01-2025: 1.7%● unchanged vs 12-2024
02-2025: 1.5%▼ -0.2 percentage points vs 01-2025
03-2025: 1.5%● unchanged vs 02-2025
04-2025: 1.5%● unchanged vs 03-2025
05-2025: 1.5%● unchanged vs 04-2025
06-2025: 1.5%● unchanged vs 05-2025
07-2025: 1.7%▲ +0.2 percentage points vs 06-2025
08-2025: 2.2%▲ +0.5 percentage points vs 07-2025highest value
09-2025: 0.4%▼ -1.8 percentage points vs 08-2025
10-2025: 0.4%● unchanged vs 09-2025
11-2025: 0.4%● unchanged vs 10-2025
12-2025: 0.4%● unchanged vs 11-2025
01-2026: 0.4%● unchanged vs 12-2025
02-2026: 0.4%● unchanged vs 01-2026
03-2026: 0.4%● unchanged vs 02-2026
04-2026: 0.4%● unchanged vs 03-2026
05-2026: 0.4%● unchanged vs 04-2026
06-2026: 0.4%● unchanged vs 05-2026lowest value
07-2026: 0.4%● unchanged vs 06-2026
08-2026: 0.6%▲ +0.2 percentage points vs 07-2026
09-2026: 1.7%▲ +1.1 percentage points vs 08-2026
10-2026: 1.7%● unchanged vs 09-2026
11-2026: 1.7%● unchanged vs 10-2026
Credit of up to €3,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 2.06 (2.2 in 2024), above the usual 1.5. Short-term debt is 35.4% and cash 0.9% of total assets. 45.6% of the assets are financed with debt and provisions.
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 56, micro). It does better than 72% of them on solvency, 30% on liquidity, 26% on profitability and 24% on growth.
The bankruptcy probability was computed on 02-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises risk
raises risk · 2025 accounts filed 31 days late
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. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
31 days late
2024
12 days late
2023
22 days late
2022
31 days late
2021
29 days late
2020
11 days late
2019
54 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 27 days after the deadline. In the sector (NACE 56), the median for financial year 2024 was 7 days after the deadline, and 53% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 29 August (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
02-11-2026 today31-12-2026 year end31-07-2027 deadline
Financials
Financials · financial year 2025, micro format
2025 annual accounts filed 31 days after the deadline Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00486446.
Annual accounts 2025 filed on 31-08-2026 at the NBB all 29 filings
Turnover
≈ €180,000
Estimated: probably between €88,000 and €370,000
Total assets
€100,977▼ 20.8%
2024 · €127,464
Net result
-€5,433
2024 · €19,056
Working capital
€37,918▼ 24.7%
2024 · €50,346
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€300
▼ 99.0%
2025
20182025
Net result
-€5,433
2025
middle half of the sector
20182025
Equity
€54,949
▼ 21.9%
2025
middle half of the sector
20182025
Total assets
€100,977
▼ 20.8%
2025
middle half of the sector
20182025
Debt
€46,028
▼ 19.4%
2025
20182025
Working capital
€37,918
▼ 24.7%
2025
middle half of the sector
20182025
Solvency
54.4%
▼ 0.8pp
2025
middle half of the sector
20182025
Current ratio
2.06
▼ 0.14
2025
middle half of the sector
20182025
Return on assets (ROA)
-5.4%
▼ 20.3pp
2025
middle half of the sector
20182025
Staff (FTE)
3.2
▲ 10.3%
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€1,854-€19,246€48,811▲ 154%€24,539▼ 49.7%€6,774▼ 72.4%-€4,368€30,268€300▼ 99.0%
Net result-€6,276-€7,971€34,413above the sector's middle half▲ 332%€19,290within the sector's middle half▼ 43.9%€3,726within the sector's middle half▼ 80.7%-€7,232within the sector's middle half€19,056within the sector's middle half-€5,433within the sector's middle half
Equity-€1,843-€6,128€40,541within the sector's middle half▲ 562%€59,832within the sector's middle half▲ 47.6%€63,558within the sector's middle half▲ 6.2%€56,326within the sector's middle half▼ 11.4%€70,382within the sector's middle half▲ 25.0%€54,949within the sector's middle half▼ 21.9%
Total assets€122,863-€108,153▼ 12.0%€98,750within the sector's middle half▼ 8.7%€93,980within the sector's middle half▼ 4.8%€94,735within the sector's middle half▲ 0.8%€117,184within the sector's middle half▲ 23.7%€127,464within the sector's middle half▲ 8.8%€100,977within the sector's middle half▼ 20.8%
Debt€124,707-€102,025▼ 18.2%€58,208▼ 42.9%€34,148▼ 41.3%€31,178▼ 8.7%€60,858▲ 95.2%€57,082▼ 6.2%€46,028▼ 19.4%
Working capital-€22,286--€20,517▲ 7.9%€27,098within the sector's middle half€38,639within the sector's middle half▲ 42.6%€45,629above the sector's middle half▲ 18.1%€35,077within the sector's middle half▼ 23.1%€50,346above the sector's middle half▲ 43.5%€37,918within the sector's middle half▼ 24.7%
Solvency-1.5%-5.7%▲ 7.2pp41.1%within the sector's middle half▲ 35.4pp63.7%above the sector's middle half▲ 22.6pp67.1%above the sector's middle half▲ 3.4pp48.1%within the sector's middle half▼ 19.0pp55.2%within the sector's middle half▲ 7.2pp54.4%within the sector's middle half▼ 0.8pp
Current ratio0.69-0.73▲ 0.041.71within the sector's middle half▲ 0.982.35within the sector's middle half▲ 0.642.61above the sector's middle half▲ 0.261.86within the sector's middle half▼ 0.752.20above the sector's middle half▲ 0.342.06within the sector's middle half▼ 0.14
Return on assets (ROA)-5.1%-7.4%▲ 12.5pp34.8%above the sector's middle half▲ 27.5pp20.5%within the sector's middle half▼ 14.3pp3.9%within the sector's middle half▼ 16.6pp-6.2%within the sector's middle half▼ 10.1pp14.9%within the sector's middle half▲ 21.1pp-5.4%within the sector's middle half▼ 20.3pp
Staff (FTE)2.1-1.6▼ 23.8%0.3below the sector's middle half▼ 81.3%0.6▲ 100%2.1▲ 250%1.5▼ 28.6%2.9▲ 93.3%3.2▲ 10.3%
above
within
below
The sector band is the middle half of the companies in Food and beverage service activities (NACE 56). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 99% lower than in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €100,977
Fixed assets
€27,348 ▼ 22.4%
Current assets
€73,629 ▼ 20.1%
Equity and liabilities €100,977
Equity
€54,949 ▼ 21.9%
Debt
€46,028 ▼ 19.4%
Debt's share of the balance-sheet total rises from 44.8% to 45.6%. Equity and debt are lower.
Key figures and ratios
EBITDA
€8,216▼
2024 · €37,967
Cash flow
€2,483▼
2024 · €26,755
Quick ratio
1.89▼
2024 · 2.14
Debt to equity
0.84▲
2024 · 0.81
ROE
-9.9%▼
2024 · 27.1%
Interest coverage
1.46▼
2024 · 11.15
Debt ≤ 1 year
€35,711▼
2024 · €41,854
Debt > 1 year
€10,036▼
2024 · €15,132
Income taxes
€106▼
2024 · €7,809
Staff costs
€5,872▲
2024 · €5,568
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Average over the year, in full-time equivalents | 0.2 | 0.6 | 0.5 | 0.9 | 0.8 |
| Joined | 4 | 7 | 6 | 12 | 20 |
| Left | 5 | 11 | 11 | 14 | 20 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Overdue debts
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Overdue tax debts | - | - | €5,798 | €8,572 | €1,238 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts)
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Pledge on other assets, amount secured | €8,138 | €5,412 | €27,207 | €19,979 | €15,132 |
| Carrying value of the other pledged assets | €8,151 | €6,478 | €30,650 | €23,238 | €20,630 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €11,267 | - | €26,074 | €1,595 | - |
| Depreciation and write-downs of the year | €4,448 | €5,931 | €5,466 | €7,699 | €7,916 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €1,148 | €3,352 | €3,716 | €5,568 | €5,872 | ▲ 5.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €20,794 | €20,567 | €19,529 | €4,448 | €5,931 | €5,466 | €7,699 | €7,916 | ▲ 2.8% |
| Other operating charges640/8 | - | - | - | €3,732 | €1,647 | €4,516 | €5,298 | €2,905 | ▼ 45.2% |
| Gross operating margin9900 | €66,465 | €84,510 | €68,128 | €33,866 | €17,705 | €9,331 | €48,832 | €16,993 | ▼ 65.2% |
| Operating profit (loss)9901 | -€1,854 | €19,246 | €48,811 | €24,539 | €6,774 | -€4,368 | €30,268 | €300 | ▼ 99.0% |
| Financial income75/76B | - | - | - | €475 | €1,336 | €0 | €2 | €5 | ▲ 99.2% |
| Recurring financial income75 | €3 | €0 | €0 | €475 | €1,336 | €0 | €2 | €5 | ▲ 99.2% |
| Financial charges65/66B | - | - | - | €3,160 | €2,641 | €2,624 | €3,406 | €5,632 | ▲ 65.4% |
| Recurring financial charges65 | €3,829 | €6,332 | €5,356 | €3,160 | €2,641 | €2,624 | €3,406 | €5,632 | ▲ 65.4% |
| Profit (loss) for the period before taxes9903 | -€5,679 | €12,914 | €43,455 | €21,853 | €5,469 | -€6,991 | €26,865 | -€5,327 | - |
| Income taxes67/77 | €597 | €4,943 | €9,042 | €2,563 | €1,743 | €240 | €7,809 | €106 | ▼ 98.6% |
| Profit (loss) for the period9904 | -€6,276 | €7,971 | €34,413 | €19,290 | €3,726 | -€7,232 | €19,056 | -€5,433 | - |
| Transfer from tax-exempt reserves789 | - | - | - | €2,406 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | -€6,276 | €7,971 | €34,413 | €21,696 | €3,726 | -€7,232 | €19,056 | -€5,433 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €122,863 | €108,153 | €98,750 | €93,980 | €94,735 | €117,184 | €127,464 | €100,977 | ▼ 20.8% |
| Formation expenses20 | €0 | €0 | - | - | - | - | - | €0 | - |
| Fixed assets21/28 | €73,596 | €53,030 | €33,501 | €26,692 | €20,761 | €41,368 | €35,264 | €27,348 | ▼ 22.4% |
| Tangible fixed assets22/27 | €69,636 | €49,070 | €29,541 | €22,732 | €16,801 | €37,408 | €31,304 | €23,388 | ▼ 25.3% |
| Land and buildings22 | - | - | - | €0 | €0 | €0 | €0 | €0 | - |
| Plant, machinery and equipment23 | - | - | - | €8,151 | €6,478 | €30,650 | €27,863 | €23,264 | ▼ 16.5% |
| Furniture and vehicles24 | - | - | - | €3,323 | €2,513 | €1,703 | €893 | €83 | ▼ 90.7% |
| Leasing and similar rights25 | - | - | - | - | - | - | - | €0 | - |
| Other tangible fixed assets26 | - | - | - | €11,258 | €7,810 | €5,055 | €2,548 | €42 | ▼ 98.4% |
| Financial fixed assets28 | €3,960 | €3,960 | €3,960 | €3,960 | €3,960 | €3,960 | €3,960 | €3,960 | = |
| Current assets29/58 | €49,267 | €55,123 | €65,249 | €67,288 | €73,974 | €75,816 | €92,200 | €73,629 | ▼ 20.1% |
| Amounts receivable after more than one year29 | - | - | - | €48,292 | €43,106 | €43,106 | €48,292 | €48,292 | = |
| Other amounts receivable291 | - | - | - | €48,292 | €43,106 | €43,106 | €48,292 | €48,292 | = |
| Stocks and contracts in progress3 | €2,971 | €3,559 | €3,306 | €3,308 | €2,599 | €3,747 | €2,816 | €6,249 | ▲ 122% |
| Stocks30/36 | - | - | - | €3,308 | €2,599 | €3,747 | €2,816 | €6,249 | ▲ 122% |
| Amounts receivable within one year40/41 | €44,905 | €50,727 | €55,819 | €5,416 | €25,630 | €25,407 | €16,549 | €0 | ▼ 100% |
| Trade receivables40 | - | - | - | €0 | €140 | €0 | €0 | €0 | - |
| Other amounts receivable41 | - | - | - | €5,416 | €25,490 | €25,407 | €16,549 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €1,391 | €838 | €5,990 | €10,271 | €2,639 | €3,556 | €24,542 | €874 | ▼ 96.4% |
| Deferred charges and accrued income490/1 | - | - | - | €0 | €0 | - | - | €18,214 | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €122,863 | €108,153 | €98,750 | €93,980 | €94,735 | €117,184 | €127,464 | €100,977 | ▼ 20.8% |
| Equity10/15 | -€1,843 | €6,128 | €40,541 | €59,832 | €63,558 | €56,326 | €70,382 | €54,949 | ▼ 21.9% |
| Contributions10/11 | €18,592 | €18,592 | - | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €4,265 | €9,265 | €19,265 | €36,859 | €36,859 | €36,859 | €51,859 | €41,859 | ▼ 19.3% |
| Non-distributable reserves130/1 | - | - | - | €1,859 | €1,859 | €0 | - | €0 | - |
| Reserves not available under the articles1311 | - | - | - | €1,859 | €1,859 | €0 | - | €0 | - |
| Tax-exempt reserves132 | - | - | - | €0 | - | - | - | €0 | - |
| Distributable reserves133 | - | - | - | €35,000 | €35,000 | €36,859 | €51,859 | €41,859 | ▼ 19.3% |
| Profit (loss) carried forward14 | -€24,700 | -€21,729 | €2,685 | €4,380 | €8,106 | €875 | -€69 | -€5,502 | ▼ 7,844% |
| Amounts payable17/49 | €124,707 | €102,025 | €58,208 | €34,148 | €31,178 | €60,858 | €57,082 | €46,028 | ▼ 19.4% |
| Amounts payable after more than one year17 | €52,790 | €26,256 | €19,224 | €5,412 | €2,619 | €19,979 | €15,132 | €10,036 | ▼ 33.7% |
| Financial debts170/4 | - | - | - | €5,412 | €2,619 | €19,979 | €15,132 | €10,036 | ▼ 33.7% |
| Amounts payable within one year42/48 | €71,553 | €75,640 | €38,151 | €28,648 | €28,345 | €40,739 | €41,854 | €35,711 | ▼ 14.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €2,726 | €2,792 | €7,228 | €4,847 | €5,097 | ▲ 5.2% |
| Financial debts43 | - | - | - | €3,298 | €5,971 | €4,263 | €1,864 | €7,907 | ▲ 324% |
| Credit institutions430/8 | - | - | - | €3,298 | €5,971 | €4,263 | €1,864 | €7,907 | ▲ 324% |
| Trade debts44 | €10,693 | €11,230 | €6,693 | €9,659 | €6,924 | €15,028 | €6,146 | €8,087 | ▲ 31.6% |
| Suppliers440/4 | - | - | - | €9,659 | €6,924 | €15,028 | €6,146 | €8,087 | ▲ 31.6% |
| Taxes, remuneration and social security45 | - | - | - | €12,966 | €12,657 | €14,220 | €23,997 | €12,501 | ▼ 47.9% |
| Taxes450/3 | - | - | - | €12,717 | €12,391 | €13,892 | €23,473 | €12,121 | ▼ 48.4% |
| Remuneration and social security454/9 | - | - | - | €248 | €266 | €328 | €524 | €380 | ▼ 27.6% |
| Other amounts payable47/48 | - | - | - | €0 | €0 | €0 | €5,000 | €2,119 | ▼ 57.6% |
| Accrued charges and deferred income492/3 | - | - | - | €88 | €213 | €140 | €96 | €281 | ▲ 192% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€6,276 | €7,971 | €34,413 | €19,290 | €3,726 | -€7,232 | €19,056 | -€5,433 | - |
| + Depreciation and write-downs630 | €20,794 | €20,567 | €19,529 | €4,448 | €5,931 | €5,466 | €7,699 | €7,916 | ▲ 2.8% |
| Operating cash flow (approximation) | €14,518 | €28,538 | €53,942 | €23,738 | €9,658 | -€1,765 | €26,755 | €2,483 | ▼ 90.7% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €2,361 | €0 | -€26,074 | -€1,595 | €0 | - |
| Change in cash | - | -€553 | €5,152 | €4,281 | -€7,631 | €916 | €20,987 | -€23,669 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 12,322 companies had the same profile as MAX has now. Two years later, 90.3% were still going and 0.7% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
90.3%
was still going
8.6%
stopped otherwise
0.7%
went bankrupt
Another 0.5% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of MAX itself is higher: 1.7% within 12 months. It rests on far more data about MAX than the profile alone.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 12,322 companies, not a prediction for MAX. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 29 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 31-08-2026 | 2026-00486446 | |
| 31-12-2024 | micro format | 12-08-2025 | 2025-00373967 | |
| 31-12-2023 | micro format | 22-08-2024 | 2024-00365788 | |
| 31-12-2022 | micro format | 31-08-2023 | 2023-00418921 | |
| 31-12-2021 | micro format | 29-08-2022 | 2022-20335612 | |
| 31-12-2020 | micro format | 11-08-2021 | 2021-47800576 | |
| 31-12-2019 | micro format | 23-09-2020 | 2020-55000199 | |
| 31-12-2018 | micro format | 28-08-2019 | 2019-53800521 | |
| 31-12-2017 | micro format | 29-08-2018 | 2018-52800018 | |
| 31-12-2016 | micro format | 17-07-2017 | 2017-32300422 |
Board & ownership
Directors
Directors
1 director, no change since 2024
BRASSEUR Geoffrey
Current
Director (not named in the articles) · since 19-12-2023 · term without a fixed end · listed in the 2025 annual accounts, filed on 31-08-2026
Owners and capital
Capital transactions
Capital over time
- 22-01-2024 Converted to unavailable equity · €20,451
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “Organe d’administration, 1”
Articles of association, deed of 22-01-2024 (in French)
Network & group
MAX shares no director with another company.
Companies at the same address
4 other companiesConnections & network
1 current directorThe network starts from the directors of MAX. Every other company they run is a node.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
31-08
micro format · 31 days late
2025
12-08
micro format · 12 days late
2024
31-12
Financial
Back to profitnet €19,056
The net result is €19,056, after one loss-making year.
22-08
micro format · 22 days late
22-01
Gazette deed
Appointment: BRASSEUR Geoffrey (director)Capital conversion · Reserve release · Amendment of the articles10 points ▸
Gazette deed
Appointment: BRASSEUR Geoffrey (director)
Capital conversion · Reserve release · Amendment of the articles10 points ▸
- Other provision, “adaptation statuts et maintien forme SRL, adapter aux dispositions du Code des sociétés et des associations” (deed in French)
- Capital conversion, “compte de capitaux propres statutairement indisponible” (deed in French)
- Reserve release, “suppression, à due concurrence” (deed in French)
- Amendment of the articles
- Share issue, 750, “égal” (deed in French)
- Director appointment, BRASSEUR Geoffrey (director (not named in the articles))
- Other provision, “fin de fonction du gérant actuel, immédiatement avant renouvellement nomination” (deed in French)
- Other provision, “décharge au gérant démissionnaire pour exécution de son mandat, prochaine assemblée générale annuelle” (deed in French)
- Registered office clause, “4000 Liège,Chaussée de Tongres,63” (deed in French)
- Power of attorney
2023
31-12
Financial
Weakest financial yearnet -€7,232
The net result drops to -€7,232, the lowest from 2018 to 2025. It recovers the following year.
31-08
micro format · 31 days late
2022
29-08
micro format · 29 days late
2021
11-08
micro format · 11 days late
2020
31-12
Financial
Highest result from 2018 to 2025net €34,413 ▲332%
The operating result of €48,811 and the net result of €34,413 are both a record.
31-12
Financial
Liquidity more than doubledcurrent ratio 1.71
The current ratio rises from 0.73 to 1.71. Short-term debt falls from €75,640 to €38,151.
23-09
micro format · 54 days late
Show earlier events
2019
31-12
Financial
Back to profitnet €7,971
The net result is €7,971, after one loss-making year.
28-08
micro format · 28 days late
2018
29-08
micro format · 29 days late
2017
17-07
micro format · 14 days before the deadline
1997
07-01
Gazette deed
Incorporation
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
MAX in French
Enterprise number
0459.521.662
Legal form
Private limited company
Status
Active, normale toestand
Founded
24-12-1996
Entity type
Legal entity
Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Région Wallonne”
deed of 22-01-2024 (in French)Registered office and establishments
Registered office
Chaussée de Tongres 63, 4000 Liège, Belgium
Establishment unit
Chaussée de Tongres 63, 4000 Liège since 02-04-1997 · unit number 2.081.130.6441085001 Manufacture of food products
Activities
NACEBEL 2025VAT activities
56111
Full-service restaurants main activity
Social security (RSZ) activities
56210
Event catering main activity
Codes under NACEBEL 2008
VAT activities
56101
Full-service restaurants main activity
Social security (RSZ) activities
56210
Catering main activity
Codes under NACEBEL 2003
VAT activities
55301
main activity
Social security (RSZ) activities
55522
main activity
Joint committee
302 Paritair Comité voor het hotelbedrijf annual accounts 2025
PurposeThe purpose describes the activities the company may carry out under its articles.
deed of 22-01-2024 (in French)
“Tant en Belgique qu’à l’étranger, tout ce qui se rapporte directement ou indirectement à l’exploitation d’un restaurant ou exploitation…”
3 activities
- Tant en Belgique qu’à l’étranger, tout ce qui se rapporte directement ou indirectement à l’exploitation d’un restaurant ou exploitation similaire ayant trait à l’alimentation ou au débit de boissons, ainsi que le service traiteur et l’organisation de banquets.
- Toutes opérations généralement quelconques en dehors de celles visées ci-dessus et notamment financières, mobilières et immobilières se rapportant directement ou indirectement à son objet social.
- S’intéresser par voie d’apport, de fusion, d’absorption, de souscription, de participations financières ou autrement, dans toutes sociétés ou entreprises existantes ou à créer, ayant un objet analogue ou connexe au sien, ou de nature à faciliter ou favoriser la réalisation de son objet tel que défini ci-dessus.
Invoicing and payment
VAT number
BE 0459.521.662
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Recognitions · licences · registrations
Food safety, FASFC
1 siteLiègeunit number 2.081.130.644
Sites & property
Location
Buildings and parcels at the address
Ground area
7,112 m²
Building footprint
2,409 m²
Building volume
13,109 m³
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 62087B0230/00D013 | Wallonia | 7,112 m² | 1 · 2,409 m² | 8.0 m · 2 |