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MAX

Active Public limited companyfounded 2000active for 26 yearsKlikhoutestraat 9A, 9890 GavereKBO/BCE: BE 0471.462.362
MAX
Financial year 2025
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Annual accounts 2025

abbreviated format, filed on 30-06-2026, 31 days before the deadline
€28,279
▼ 38.8%
€4,307
▼ 70.9%
-€754
▼ €10,321
-€97,054
▼ €8,138
44.6%
▲ 0.9 percentage points
0.09
▲ 0.05

Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.

Turnover ≈ €150,000. Estimated: probably between €94,000 and €220,000.

Balance sheet

balance sheet total €705,924 on 31-12-2025
What the company ownsHow it is paid for

in euro

in euro

Position in the sector

Compare with sector

44.6%

Higher than 51% of 9,967 companies in 2025.

0.09

Lower than 95% of 9,830 companies in 2025.

-0.1%

Higher than 20% of 9,899 companies in 2025.

MAX Middle half of the sector 80% of the sector Abbreviated accounts in specialised construction (NACE 43)

Net result: bottom quarter · Equity: middle half · Balance sheet total: middle half · Working capital: bottom quarter

Filed annual accounts

as filed with the National Bank, click a year to choose it
Line Trend20252024202320222021202020192018201720162015201420132012201120102009200820072006
Balance sheet: assets
20/58 705,924721,720778,160860,804505,951545,147638,932635,655645,707647,477660,307676,268657,133659,680670,288218,044217,997218,098218,536218,431
20 ----------84911,03121,21331,39641,578-----
21/28 695,747717,177758,731834,229354,790273,017629,706631,492631,298638,340646,643664,520644,152651,282661,665217,997217,997218,036218,075218,114
22/27 695,747717,177758,731834,229354,790273,017629,706631,492631,248638,340645,795653,489622,899619,846620,087217,997217,997218,036218,075218,114
22 686,723704,500735,965807,891321,448242,548627,877628,721631,144633,165635,549636,610620,876617,583617,583217,583217,583217,583217,583217,583
23 3,8062,2893,3574,7375,2401,3734809731031421811,7822,0232,2632,503414414453492530
24 5,21810,38819,40921,60128,10229,0961,3481,798-5,03310,06515,097--------
28 --------50---4040------
29/58 10,1764,54419,42926,575151,162272,1309,2264,16314,4099,13713,66411,74812,9818,3988,62346-62461317
3 -9116-----------------
30/36 -9116-----------------
40/41 5,80860216,81125,23426,50620,136--10,8905,89013,15610,9419,2208,3136,824---11
40 5,8086026,811-15,9004,600--10,8905,89010,6366,3349,2208,3136,824-----
41 --10,00025,23410,60615,536----2,5204,606------11
54/58 3,3522,6671,58616124,656251,8909,2264,1633,5193,2475078073,761851,79846-62460316
490/1 1,0161,2659171,325-103--------------
Balance sheet: equity and liabilities
10/49 705,924721,720778,160860,804505,951545,147638,932635,655645,707647,477660,307676,268657,133659,680670,288218,044217,997218,098218,536218,431
10/15 314,998315,752306,185275,768343,815343,955200,987153,033106,29636,62712,93116,07639,7486,560-25,357-21,067-13,968-11,620-6,734-2,958
10/11 74,33874,33874,33874,33874,33874,33874,33874,33874,33874,33874,33874,33874,33874,33874,33874,33874,33874,33874,33874,338
10 74,33874,33874,33874,33874,338---------------
100 74,33874,33874,33874,33874,33874,33874,33874,33874,33874,33874,33874,33874,33874,33874,33874,33874,33874,33874,33874,338
13 258,436261,961266,290269,511269,583269,617126,64978,6957,434-----------
130/1 7,4347,4347,4347,4347,4347,434--------------
130 7,4347,4347,4347,4347,4347,4347,4347,4347,434-----------
132 98,706102,231106,560109,781109,853109,887--------------
133 152,296152,296152,296152,296152,296152,296119,21571,261------------
14 -17,777-20,547-34,443-68,081-106---24,524-37,711-61,407-58,262-34,590-67,778-99,695-95,405-88,306-85,958-81,072-77,296
16 24,67725,55826,64027,44527,46327,472--------------
168 24,67725,55826,64027,44527,46327,472--------------
17/49 366,249380,411445,335557,591134,673173,721437,945482,622539,411610,850647,376660,192617,385653,120695,645239,110231,965229,719225,270221,389
17 258,679286,583302,895471,81881,86492,908338,353355,747372,644389,059402,325422,870442,611436,440482,20897,134104,095110,627116,756122,041
170/4 258,679286,583302,895471,81881,86492,908338,353355,747372,644389,059402,325422,870442,611436,440482,20897,134104,095110,627116,756122,041
42/48 107,23093,460142,43985,77352,78374,95799,592126,876166,767221,791244,139237,322174,695216,680213,438141,977127,870119,091108,51499,348
42 29,79835,15628,64844,63714,12510,35127,39426,89716,41515,94620,54519,74118,968-13,781-----
43 ---2,235---------43,365--109---
430/8 ---2,235---------43,365--109---
44 1,5603,14822,32324,7899,61318,0914,0782,0011,8416,7357,0565,70210,8213,1452,0033,7651,2491,5021,260888
440/4 1,5603,14822,32324,7899,61318,0914,0782,0011,8416,7357,0565,70210,8213,1452,0033,7651,2491,5021,260888
45 5,4985,4593,6142019,2349,75311,33127,30219,0392,691--5,1764,1671,059-----
450/3 5,4985,4593,6142019,2349,75311,33127,30219,0392,691--5,1764,1671,059-----
47/48 70,37349,69687,85313,91219,81136,76256,79070,676129,473196,419216,538211,879139,730166,003196,595138,212126,512117,590107,25598,460
492/3 340368--265,855----912-79-------
Income statement
76A -17,502105,229--137,3591,000-------------
9900 28,27946,23470,424-47,72932,088200,02080,80080,500117,12353,28035,39915,14467,65766,41637,4512,1085,3344,1155,0515,978
60/61 -----------------1,8851,949-
630 21,74127,85626,0729,8848,6163,3363,3663,3668,1228,30317,87717,57410,46610,4239,574-3939391,786
640/8 1,5973,5841,6132,1132,1623,4193,0042,9092,8343,2173,0703,1133,9483,0742,5512,4704831,4461,2941,686
66A 635---18,129935--------------
9901 4,30714,79442,739-59,7263,182192,33074,42974,225106,16741,76014,451-5,54353,24352,91925,325-3624,8122,6303,7182,506
75/76B 1--3501,545-422-12013-----
75 1--3501,545-422-12013-----
65/66B 5,9436,30913,1278,3423,38116,70313,69115,02417,88718,06617,59618,13020,05821,00229,6296,7367,1607,5167,4948,421
65 5,9436,30913,1278,3423,38116,70313,69115,02417,88718,06617,59618,13020,05821,00229,6296,7367,1607,5167,4948,421
9903 -1,6368,48529,612-68,065-149177,17260,73959,20588,28223,696-3,145-23,67233,18831,917-4,291-7,099-2,348-4,886-3,776-5,915
780 8811,082805189---------------
67/77 -----6,73312,78412,46818,613-----------
9904 -7549,56730,417-68,047-140142,96847,95546,73769,66923,696-3,145-23,67233,18831,917-4,291-7,099-2,348-4,886-3,776-5,915
789 3,5254,3283,2217234---------------
689 -----109,887--------------
9905 2,77113,89533,638-67,975-10633,08147,95546,73769,66923,696-3,145-23,67233,18831,917-4,291-7,099-2,348-4,886-3,776-5,915
Appropriation of the result
9906 -17,777-20,547-34,443-68,081-10633,08147,95571,26131,958-37,711-61,407-58,262-34,590-67,778-99,695-95,405-88,306-85,958-81,072-77,296
14P -20,547-34,443-68,081-106----------------
691/2 -----33,08147,95571,2617,434-----------
6920 --------7,434-----------
6921 -----33,08147,95571,261------------
Document PDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDF

The accounts for 5 older financial years (2001-2005) were filed as documents without figures as data, scans for example.

The notes to these accounts have 7 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Source: Annual accounts 2025 at the NBB, filed on 30-06-2026.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank
Financial year Type Filed Reference Document
31-12-2025 abbreviated format 30-06-2026 2026-00218430 PDF
31-12-2024 micro format 02-07-2025 2025-00216633 PDF
31-12-2023 micro format 08-07-2024 2024-00218024 PDF
31-12-2022 abbreviated format 03-07-2023 2023-00189465 PDF
31-12-2021 abbreviated format 23-08-2022 2022-20312755 PDF
31-12-2020 abbreviated format 30-08-2021 2021-59800180 PDF
31-12-2019 abbreviated format 03-07-2020 2020-26200053 PDF
31-12-2018 abbreviated format 01-07-2019 2019-26600274 PDF
31-12-2017 abbreviated format 22-08-2018 2018-48600261 PDF
31-12-2016 abbreviated format 07-07-2017 2017-29000496 PDF
31-12-2015 abbreviated format 03-08-2016 2016-40400171 PDF
31-12-2014 abbreviated format 25-08-2015 2015-47400196 PDF
31-12-2013 abbreviated format 29-08-2014 2014-52300536 PDF
31-12-2012 abbreviated format 27-06-2013 2013-23400580 PDF
31-12-2011 abbreviated format 12-07-2012 2012-28200356 PDF
31-12-2010 abbreviated format 10-07-2011 2011-27800133 PDF
31-12-2009 abbreviated format 07-08-2010 2010-39200162 PDF
31-12-2008 abbreviated format 22-07-2009 2009-44700182 PDF
31-12-2007 abbreviated format 13-08-2008 2008-55600025 PDF
31-12-2006 abbreviated format 22-05-2007 2007-15600137 PDF
31-12-2005 abbreviated format 14-08-2006 2006-63203327 PDF
31-12-2004 abbreviated format 20-09-2005 2005-69104276 PDF
31-12-2003 abbreviated format 02-11-2004 2004-77201524 PDF
31-12-2002 abbreviated format 02-07-2003 2003-37705206 PDF
31-12-2001 abbreviated format 17-02-2003 2003-04704345 PDF

Key figures and ratios

per financial year, computed from the annual accounts
Line Trend20252024202320222021202020192018201720162015201420132012201120102009200820072006
26,04742,65068,811-49,84211,798195,66577,79577,591114,28950,06332,32912,03163,70963,34234,899-4,8512,6683,7574,292
20,98637,42356,490-58,1628,476146,30451,32150,10377,79131,99914,732-6,09843,65442,3405,284--2,309-4,847-3,738-4,129
4,19979980,532489,324163,51764,7921,5803,6101,080-0048,16513,51810,222411,664-000-
6851,0811,570-124,640-127,235242,6645,0636442722,740-300-2,9543,676-1,7131,752---398144-
-97,054-88,916-123,010-59,19898,378197,173-90,365-122,712-152,358-212,654-230,475-225,574-161,714-208,282-204,815-141,930--119,029-108,053-99,031
44.6%43.7%39.3%32.0%68.0%63.1%31.5%24.1%16.5%5.7%2.0%2.4%6.0%1.0%-3.8%-9.7%-6.4%-5.3%-3.1%-1.4%
0.090.050.140.312.863.630.090.030.090.040.060.050.070.040.040.00-0.000.000.00
0.090.050.140.312.863.630.090.030.090.040.060.050.070.040.040.00-0.000.000.00
1.161.201.452.020.390.512.183.155.0716.6850.0641.0715.5399.56------
-0.2%3.0%9.9%-24.7%0.0%41.6%23.9%30.5%65.5%64.7%-24.3%-147.3%83.5%486.5%------
-0.1%1.3%3.9%-7.9%0.0%26.2%7.5%7.4%10.8%3.7%-0.5%-3.5%5.1%4.8%-0.6%-3.3%-1.1%-2.2%-1.7%-2.7%
4.386.765.24-5.973.49---------------
-----------------291 days236 days-

A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.

Investments

fixed assets acquired
Item20252024202320222021
Tangible fixed assets€4,199€799€80,532€489,324€163,517
€21,741€27,856€26,072€9,884€8,616

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Insights on MAX

The operating result for 2025 is 71% lower than in 2024 and the lowest since 2022. It is the second fall in a row.

Debt's share of the balance-sheet total falls from 52.7% to 51.9%. Equity and debt are lower.

Next steps

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