MAX & HADES
ActiveMAX & HADES has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €97k and a net result of €177k. Equity is shrinking by ~14.5% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2028. Its solvency ranks better than 24% of 528 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
63
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability96▼-4
Solvency37▲+6
Growth32▼-26
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6k at 30 days acceptable
Liquidity short (current ratio 0.95 against 0.92 in 2024; short-term debt: 85.2% and cash: 44.1% of total assets), and 88% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 56
Relative position
BE, all sectors
reference
Sector 56
higher
← fewer bankruptcies
more bankruptcies →
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 · 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
12%
Return on assets
21.7%
Age of the figures
15 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 24% of 528 sector peers (2025).
NBB · sector comparisonPosition among 528 sector peers
Solvency
better than 24%
← weakest
strongest →
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 08-01-2026, 23 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
23 d early
2024
22 d early
2023
42 d early
2022
17 d late
2021
27 d early
2020
15 d late
2019
18 d early
← before the deadline
after the deadline →
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 close18-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€97k▲ 37.6%
2024 · €71k
2019: €282k
2020: €339k
2021: €291k
2022: €379k
2023: €296k
2024: €71k
2019 → 2025
Total assets
€812k▼ 26.4%
2024 · €1.10M
2019: €1.12M
2020: €916k
2021: €736k
2022: €1.27M
2023: €1.26M
2024: €1.10M
2019 → 2025
Net result
€177k▼ 35.6%
2024 · €274k
2019: €199k
2020: €58k
2021: €-48k
2022: €388k
2023: €417k
2024: €274k
2019 → 2025
Working capital
€-38k▲ 54.2%
2024 · €-82k
2019: €187k
2020: €295k
2021: €221k
2022: €246k
2023: €87k
2024: €-82k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€291k-€379k▲ 30.2%€296k▼ 21.8%€71k▼ 76.2%€97k▲ 37.6%
Operating result€-33k-€455k€525k▲ 15.5%€358k▼ 31.9%€233k▼ 34.9%
Net result€-48k-€388k€417k▲ 7.6%€274k▼ 34.3%€177k▼ 35.6%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 35% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €812k
Fixed assets
€157k▼ 26.9%
Current assets
€655k▼ 26.3%
Equity and liabilities €812k
Equity
€97k▲ 37.6%
Debt
€715k▼ 30.8%
The debt ratio falls from 93.6% to 88.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€304k▼
2024 · €424k
Cash flow
€248k▼
2024 · €341k
Solvency
12.0%▲
2024 · 6.4%
Current ratio
0.95▲
2024 · 0.92
Quick ratio
0.85▼
2024 · 0.87
Debt / equity
7.35▼
2024 · 14.62
ROE
181.7%▼
2024 · 388.2%
ROA
21.7%▼
2024 · 24.9%
Interest coverage
24.27▼
2024 · 53.40
Debt
€715k▼
2024 · €1.03M
Debt ≤ 1 year
€692k▼
2024 · €970k
Debt > 1 year
€12k▼
2024 · €19k
Income taxes
€62k▼
2024 · €93k
Staff costs
€1.11M▲
2024 · €1.08M
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€1.10M€812k▼
Fixed assets21/28€215k€157k▼
Intangible fixed assets21€1k€115▼
Tangible fixed assets22/27€182k€125k▼
Plant, machinery and equipment23€114k€71k▼
Furniture and vehicles24€42k€38k▼
Other tangible fixed assets26€25k€16k▼
Financial fixed assets28€33k€33k=
Current assets29/58€888k€655k▼
Stocks and contracts in progress3€44k€68k▲
Stocks30/36€44k€68k▲
Amounts receivable within one year40/41€225k€223k▼
Trade receivables40€218k€202k▼
Other amounts receivable41€8k€21k▲
Current investments50/53€79k-
Cash at bank and in hand54/58€531k€358k▼
Deferred charges and accrued income490/1€8k€6k▼
Equity and liabilities
Total equity and liabilities10/49€1.10M€812k▼
Equity10/15€71k€97k▲
Contributions10/11€28k€28k=
Reserves13€31k€31k=
Non-distributable reserves130/1€3k€3k=
Reserves not available under the articles1311€3k€3k=
Distributable reserves133€28k€28k=
Profit (loss) carried forward14€13k€39k▲
Amounts payable17/49€1.03M€715k▼
Amounts payable after more than one year17€19k€12k▼
Financial debts170/4€19k€12k▼
Amounts payable within one year42/48€970k€692k▼
Current portion of amounts payable after more than one year42€17k€7k▼
Trade debts44€285k€236k▼
Suppliers440/4€285k€236k▼
Taxes, remuneration and social security45€111k€108k▼
Taxes450/3€44k€28k▼
Remuneration and social security454/9€67k€80k▲
Other amounts payable47/48€557k€341k▼
Accrued charges and deferred income492/3€43k€11k▼
Income statement
Code20242025
Non-recurring operating income76A€980€826▼
Remuneration, social security and pensions62€1.08M€1.11M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€67k€71k▲
Other operating charges640/8€19k€15k▼
Gross operating margin9900€1.53M€1.42M▼
Operating profit (loss)9901€358k€233k▼
Financial income75/76B€17k€19k▲
Recurring financial income75€17k€19k▲
Financial charges65/66B€8k€13k▲
Recurring financial charges65€8k€13k▲
Profit (loss) for the period before taxes9903€367k€239k▼
Income taxes67/77€93k€62k▼
Profit (loss) for the period9904€274k€177k▼
Profit (loss) for the period to be appropriated9905€274k€177k▼
Appropriation of the result
Profit (loss) to be appropriated9906€513k€189k▼
Profit (loss) brought forward from the previous period14P€238k€13k▼
Profit to be distributed694/7€500k€150k▼
Return on contributions (dividend)694€500k€150k▼
Social balance
Average headcount (FTE)908716.316.1▼
The notes to these accounts (16 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
08-01
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
09-01
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2023
20-12
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
30-06
Financial
Highest result since 2019net €417k ▲7.6%
Operating result €525k, net result €417k, both a record.
17-02
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 17 days late
2022
30-06
Financial
Back to profitnet €388k
Net result €388k after one loss-making year.
04-01
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-06
Financial
Weakest financial yearnet €-48k ▼184%
Net result drops to €-48k, the lowest in the series; recovery starts the following year.
15-02
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 15 days late
2020
13-01
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
30-01
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
20-12
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
10-11
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.
Directors · office · real estate
Directors
13 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, Kontich · 1 establishment unit since 2009
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Doornstraat 112550 KontichGround area
4,631 m²
Building footprint
2,170 m²
Volume, LiDAR
12,286 m³
Parcel 11024A0003/00C000, Flanders · tallest building 16.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
De Jachthoorn
since 20092.180.448.944
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11024A0003/00C000 | Flanders | 4,631 m² | 1 · 2,170 m² | 16.2 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 · 2 entries · 26,500 EUR awarded · 22,500 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 2 | 26,500 EUR | 22,500 EUR |
Schemes
Vlaams Beschermingsmechanisme 11 (stopgezet)
Subsidies laadpalen (Relance)
Recognitions · licences · registrations
Food safety, FASFC
1 siteKontich2.180.448.944
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Of 7,508 companies in sector 56210 we hold annual accounts for 2,445. 2,002 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded20-11-2006
Fiscal year end30-06
Activities, NACEBEL
56210Event catering
90311Arts creation and performing arts activities
90202Performing arts by artistic ensembles
92312
92340
93299Other amusement and recreation activities
Sources
Crossroads Bank for EnterprisesNational Bank · 18 filingsAddress and cadastre registers
Data from official sources, last processed on 16-09-2026. Scores and ratios are computed by Checked and are not a credit decision.