Max-Estate
ActiveSummary
Max-Estate has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €36,223 and a net result of €2,519. Equity is growing by ~22.2% per year across the filed fiscal years. Its solvency ranks better than 86% of 14462 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
What stands out
Overview
1 of 3 deeds readAccounts 9 d earlyTurnover not published (abridged schema)
Why 70- Limited track record+ Lower-failure-rate sector+ Annual accounts: healthy financial profileLatest accounts filed on timeShow the evidence
Checked score
Score 2025
Axes · tick = 2024
Profitability56▼-26
Solvency100▲+7
Growth52▼-26
Track record94
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,500 at 30 days acceptable
Liquidity ample (current ratio 5.22 against 3.1 in 2024; short-term debt: 18.2% and cash: 1.7% of total assets), and 18.9% 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
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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 →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
81.1%
Return on assets
5.6%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 22-07-2026, 9 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
9 d early
2024
14 d late
2023
30 d early
2022
63 d late
2021
31 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 14 days after 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 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 14 August (4 of the last 5 filed years within 43 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
- Registered officeRegistered-office move · Director in…
- Annual accounts filedfiscal year 2025 · micro…
- Weakest financial yearnet €2,519 ▼63.3%
Financials
Fiscal year 2025Total assets €44,690Profit €2,519Solvency 81.1%Liquidity 5.22
Total assets
€44,690▼ 28.5%
2021 - 2025
Net result
€2,519▼ 63.3%
2021 - 2025
Equity
€36,223▼ 15.2%
2021 - 2025
Solvency
81.1%▲ 12.7pp
2021 - 2025
Financials · fiscal year 2025, micro schema
Trend over the years
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: 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. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€5,607-€26,703▲ 376%€14,293▼ 46.5%€10,683▼ 25.3%€6,381▼ 40.3%
Net result€4,537within the sector's middle half-€19,144within the sector's middle half▲ 322%€10,166within the sector's middle half▼ 46.9%€6,858within the sector's middle half▼ 32.5%€2,519within the sector's middle half▼ 63.3%
Equity€6,537below the sector's middle half-€25,681within the sector's middle half▲ 293%€35,847within the sector's middle half▲ 39.6%€42,704within the sector's middle half▲ 19.1%€36,223within the sector's middle half▼ 15.2%
Total assets€10,490below the sector's middle half-€49,790below the sector's middle half▲ 375%€58,777below the sector's middle half▲ 18.1%€62,459below the sector's middle half▲ 6.3%€44,690below the sector's middle half▼ 28.5%
Debt€3,954-€24,109▲ 510%€22,930▼ 4.9%€19,755▼ 13.8%€8,467▼ 57.1%
Working capital€6,537within the sector's middle half-€22,085within the sector's middle half▲ 238%€33,197within the sector's middle half▲ 50.3%€40,900within the sector's middle half▲ 23.2%€34,283within the sector's middle half▼ 16.2%
Solvency62.3%within the sector's middle half-51.6%within the sector's middle half▼ 10.7pp61.0%within the sector's middle half▲ 9.4pp68.4%above the sector's middle half▲ 7.4pp81.1%above the sector's middle half▲ 12.7pp
Current ratio2.65within the sector's middle half-1.92within the sector's middle half▼ 0.742.46within the sector's middle half▲ 0.543.10above the sector's middle half▲ 0.645.22above the sector's middle half▲ 2.12
Return on assets (ROA)43.2%above the sector's middle half-38.5%above the sector's middle half▼ 4.8pp17.3%above the sector's middle half▼ 21.2pp11.0%above the sector's middle half▼ 6.3pp5.6%within the sector's middle half▼ 5.3pp
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 micro schema does not require them.
Result and balance sheet
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2025 is 40% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €44,690
Fixed assets
€2,280 ▲ 9.8%
Current assets
€42,409 ▼ 29.8%
Equity and liabilities €44,690
Equity
€36,223 ▼ 15.2%
Debt
€8,467 ▼ 57.1%
Debt's share of the balance-sheet total falls from 31.6% to 18.9%. Equity and debt are lower.
Key figures and ratios
Key figures and ratios
EBITDA
€7,535▼
2024 · €11,443
Cash flow
€3,673▼
2024 · €7,618
Debt to equity
0.23▼
2024 · 0.46
ROE
7.0%▼
2024 · 16.1%
Interest coverage
3.60▼
2024 · 11.72
Debt ≤ 1 year
€8,126▼
2024 · €19,483
Income taxes
€2,859▼
2024 · €4,147
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 39,278 companies that looked in July 2024 the way this one looks now, 1.8% went bankrupt within 24 months and 96% are still going.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.8%
went bankrupt
2.3%
stopped otherwise
96%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% 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 497,341 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 39,278 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.
Filed annual accounts
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €13,591 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €204 | €760 | €760 | €1,155 | ▲ 51.9% |
| Other operating charges640/8 | - | €751 | €1,091 | €1,112 | €827 | ▼ 25.6% |
| Gross operating margin9900 | €5,607 | €27,658 | €16,144 | €12,555 | €8,362 | ▼ 33.4% |
| Operating profit (loss)9901 | €5,607 | €26,703 | €14,293 | €10,683 | €6,381 | ▼ 40.3% |
| Financial income75/76B | €89 | €401 | €1,666 | €1,298 | €1,092 | ▼ 15.9% |
| Recurring financial income75 | €89 | €401 | €1,666 | €1,298 | €1,092 | ▼ 15.9% |
| Financial charges65/66B | €20 | €397 | €1,014 | €977 | €2,095 | ▲ 115% |
| Recurring financial charges65 | €20 | €397 | €1,014 | €977 | €2,095 | ▲ 115% |
| Profit (loss) for the period before taxes9903 | €5,677 | €26,707 | €14,945 | €11,005 | €5,378 | ▼ 51.1% |
| Income taxes67/77 | €1,140 | €7,563 | €4,779 | €4,147 | €2,859 | ▼ 31.1% |
| Profit (loss) for the period9904 | €4,537 | €19,144 | €10,166 | €6,858 | €2,519 | ▼ 63.3% |
| Profit (loss) for the period to be appropriated9905 | €4,537 | €19,144 | €10,166 | €6,858 | €2,519 | ▼ 63.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €10,490 | €49,790 | €58,777 | €62,459 | €44,690 | ▼ 28.5% |
| Fixed assets21/28 | - | €3,596 | €2,836 | €2,076 | €2,280 | ▲ 9.8% |
| Tangible fixed assets22/27 | - | €3,596 | €2,836 | €2,076 | €2,280 | ▲ 9.8% |
| Land and buildings22 | - | €3,596 | €2,836 | €2,076 | €1,316 | ▼ 36.6% |
| Plant, machinery and equipment23 | - | - | - | - | €964 | - |
| Current assets29/58 | €10,490 | €46,194 | €55,941 | €60,384 | €42,409 | ▼ 29.8% |
| Amounts receivable after more than one year29 | €7,500 | €27,500 | €44,500 | €44,500 | €37,000 | ▼ 16.9% |
| Other amounts receivable291 | €7,500 | €27,500 | €44,500 | €44,500 | €37,000 | ▼ 16.9% |
| Amounts receivable within one year40/41 | €1,296 | €220 | - | €7,961 | €3,111 | ▼ 60.9% |
| Trade receivables40 | €1,296 | €220 | - | €7,961 | €2,468 | ▼ 69.0% |
| Other amounts receivable41 | - | - | - | - | €643 | - |
| Cash at bank and in hand54/58 | €1,694 | €18,474 | €9,431 | €1,985 | €758 | ▼ 61.8% |
| Deferred charges and accrued income490/1 | - | - | €2,010 | €5,938 | €1,540 | ▼ 74.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €10,490 | €49,790 | €58,777 | €62,459 | €44,690 | ▼ 28.5% |
| Equity10/15 | €6,537 | €25,681 | €35,847 | €42,704 | €36,223 | ▼ 15.2% |
| Contributions10/11 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Reserves13 | - | - | €33,847 | €40,704 | €34,223 | ▼ 15.9% |
| Distributable reserves133 | - | - | €33,847 | €40,704 | €34,223 | ▼ 15.9% |
| Profit (loss) carried forward14 | €4,537 | €23,681 | - | - | - | - |
| Amounts payable17/49 | €3,954 | €24,109 | €22,930 | €19,755 | €8,467 | ▼ 57.1% |
| Amounts payable within one year42/48 | €3,954 | €24,109 | €22,744 | €19,483 | €8,126 | ▼ 58.3% |
| Financial debts43 | - | - | - | €845 | €3,500 | ▲ 314% |
| Credit institutions430/8 | - | - | - | €845 | €3,500 | ▲ 314% |
| Trade debts44 | €47 | €3,932 | €1,611 | €7,006 | €705 | ▼ 89.9% |
| Suppliers440/4 | €47 | €3,932 | €1,611 | €7,006 | €705 | ▼ 89.9% |
| Taxes, remuneration and social security45 | €3,101 | €16,740 | €20,397 | €11,550 | €3,233 | ▼ 72.0% |
| Taxes450/3 | €3,101 | €14,015 | €17,997 | €9,124 | €1,806 | ▼ 80.2% |
| Remuneration and social security454/9 | - | €2,725 | €2,400 | €2,426 | €1,427 | ▼ 41.2% |
| Other amounts payable47/48 | €806 | €3,437 | €736 | €82 | €688 | ▲ 736% |
| Accrued charges and deferred income492/3 | - | - | €186 | €272 | €340 | ▲ 25.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €4,537 | €19,144 | €10,166 | €6,858 | €2,519 | ▼ 63.3% |
| + Depreciation and write-downs630 | - | €204 | €760 | €760 | €1,155 | ▲ 51.9% |
| Operating cash flow (approximation) | €4,537 | €19,348 | €10,926 | €7,618 | €3,673 | ▼ 51.8% |
| Investment in fixed assets (approximation) | - | - | €0 | €0 | -€1,359 | - |
| Change in cash | - | €16,780 | -€9,043 | -€7,446 | -€1,227 | ▲ 83.5% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Comparable companies
Similar companies · same sector, comparable size
Titeca & Geelen Experts
BE 0675.959.544
Wevelgem · Eq €36,227
THÔNE IMMOBILIER
BE 1020.533.436
Liège · Eq €36,240
VANPAEMEL INVEST
BE 0764.689.897
Zulte · Eq €36,189
ALGEMENE BOUW CENTRALE
BE 0438.629.248
Brugge · Eq €36,266
Carlo Eggermont
BE 0536.235.794
Gent · Eq €36,291
Of 11,749 companies in this sector we hold annual accounts for 6,910. 4,581 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Timeline
8 eventsLatest 14-08-2026Next filing 31-07-2027
History
Acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
14-08
State Gazette act
Registered officeRegistered-office move · Director in office3 facts ▸
State Gazette act
Registered office
Registered-office move · Director in office3 facts ▸
- Board meeting, 24-06-2026
- Registered-office move, Bosmanslei 19 Bus 3E,2018 Antwerpen
- Director in office, Maxime Van Coppenolle (director)
22-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet €2,519 ▼63.3%
Net result drops to €2,519, the lowest in the series.
14-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 14 days late
2024
01-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
02-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 63 days late
2022
31-12
Financial
Highest result since 2021net €19,144 ▲322%
Operating result €26,703, net result €19,144, both a record.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 3 acts read
About the unread acts
Of the 3 Belgian State Gazette acts we know for this company, 1 has been read. The other 2 have not been read yet: what they contain is neither established nor disproved here.
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Company details
Private limited company · founded 27-10-2021Year ends 31-12Peppol reachable1 site
Register details
Identification
Legal formPrivate limited company
Founded27-10-2021
Fiscal year end31-12
Activities, NACEBEL 2025
68310Real estate agency activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0776558937
Also
9925:BE0776558937
Registered
29-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Sites & property
Location & real-estate footprint
Registered office, Antwerpen · 1 establishment unit since 2021
Ground area
1,581 m²
Building footprint
896 m²
Volume, LiDAR
15,191 m³
2 parcels, Flanders · tallest building 21.9 m, ±6 floors. Linked by address, not a title deed.
8
companies at this address
See who is registered here
1 establishment unit
Max-Estate
since 2021unit no. 2.324.223.532
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11810K1902/00K008 | Flanders | 1,457 m² | 1 · 772 m² | 21.3 m · 6 fl. |
| 31013A0603/00C000 | Flanders | 124 m² | 1 · 124 m² | 21.9 m · 6 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.
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