MAX STAR
The computed 12-month bankruptcy probability of MAX STAR is 6.8% (elevated). The 2024 annual accounts show equity of €27k and a net result of €-6k. Equity is growing by ~21% per year across the filed fiscal years. Its solvency ranks better than 54% of 2235 sector peers (fiscal year 2024). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
| Equity | €27k |
| Net result | €-6k |
| Better than sector | 54% |
| Active | 6 yrs |
Fragile profile, watch profitability in particular.
Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?
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The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 30.6% | 27.4% | |
| Net result | €-6k | €6k | |
| Equity | €27k | €17k | |
| Gross operating margin | €24k | €28k | |
| Total assets | €88k | €65k |
| Fiscal year | 2024 |
|---|---|
| Revenue | - |
| EBITDA | €9k |
| Net profit | €-6k |
| Cash flow | €2k |
| Staff costs | - |
| Income taxes | €7k |
| Dividends | - |
| Total assets | €88k |
| Equity | €27k |
| Debt | €61k |
| of which ≤ 1y | €61k |
| of which > 1y | - |
| Working capital | €-13k |
| Employees (FTE) | - |
| 2024 | |
|---|---|
| Current ratio | 0.79 |
| Quick ratio | 0.79 |
| Working capital ratio | -14.7% |
| Solvency | 30.6% |
| Debt / equity | 2.26 |
| Long-term debt ratio | - |
| Interest coverage | - |
| Gross margin | - |
| Net margin | - |
| ROA | -7.0% |
| ROE | -22.9% |
| EBITDA margin | - |
| Days sales outstanding | - |
| Days payable outstanding | - |
| Inventory turnover | - |
| Days inventory (DSI) | - |
| Line item | Code | 2024 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €88k |
| Fixed assets | 21/28 | €40k |
| Tangible fixed assets | 22/27 | €40k |
| Current assets | 29/58 | €48k |
| Amounts receivable within one year | 40/41 | €43k |
| Cash & bank | 54/58 | €4k |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €88k |
| Equity | 10/15 | €27k |
| Contributions / capital | 10/11 | €10k |
| Accumulated profits (losses) | 14 | €17k |
| Amounts payable | 17/49 | €61k |
| Amounts payable within one year | 42/48 | €61k |
| Trade debts payable within one year | 44 | €4k |
| Income statement | ||
| Gross operating margin | 9900 | €24k |
| Operating result | 9901 | €1k |
| Result before taxes | 9903 | €1k |
| Income taxes | 67/77 | €7k |
| Net result for the period | 9904 | €-6k |
| Result to be appropriated | 9905 | €-6k |
-
Current25-10-2025 → present
Former directors (3)
-
Former01-01-2025 → 29-06-2025
2 events
- 29-06-2025 Resigned· Director
- 01-01-2025 Appointed· Director
-
Former01-07-2024 → 01-01-2025
2 events
- 01-01-2025 Resigned· Director
- 01-07-2024 Appointed· Director
-
Former01-07-2024 → 01-01-2025
2 events
- 01-01-2025 Resigned· Director
- 01-07-2024 Appointed· Director
| NACE primary | Land transport(49330) |
| Legal form | Private limited company(610) |
| Incorporation | 25-06-2020 |
| Status | Active |
| Postal code | 1000 |
Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21802B0078/00R004 | Brussels | 75 m² | - | - |
A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.
12-11-2025 Transaction in capital or shares
Technical details
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"events": [
{
"kind": "share_transfer",
"amount": 5,
"currency": "BEF",
"after_eur": null,
"delta_eur": null,
"before_eur": null,
"amount_type": "onbekend",
"effective_date": "2025-10-25",
"evidence_quote": "Mr. Iqbal Qasim c\u00E8de 5 parts sociales \u00E0 Mr. Shafique Muhammad Yousaf, met effet au 25/10/2025.",
"contribution_type": null
}
],
"schema": "v3.2",
"act_meta": {
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},
"subject_company": {
"kbo": "0748.993.814",
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"legal_form": "SRL"
}
}29-10-2025 AHMED MOHAMED SALEH ELTORGMAN resigns as director
- AHMED MOHAMED SALEH ELTORGMAN, Bestuurder
Technical details
{
"events": [
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"kind": "director_out",
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"name": "AHMED MOHAMED SALEH ELTORGMAN",
"address": null,
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},
"effective_date": "2025-06-29",
"evidence_quote": "La d\u00E9mission de Monsieur AHMED MOHAMED SALEH ELTORGMAN de ses fonctions d\u0027Administrateur, avec effet au 29/06/2025, et l\u0027octroi de quitus pour l\u0027ex\u00E9cution de son mandat \u00E9coul\u00E9.",
"discharge_granted": true
}
],
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},
"subject_company": {
"kbo": "0748.993.814",
"name_full": "MAX STAR",
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}
}21-03-2025 Transaction in capital or shares
Technical details
{
"events": [],
"schema": "v3.2",
"act_meta": {
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},
"subject_company": {
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"legal_form": "SRL"
}
}31-01-2025 2 directors appointed
- Butt Sarfraz, Bestuurder
- Mulembakani Alain-Olivier, Bestuurder
Technical details
{
"events": [
{
"kind": "director_in",
"role": "bestuurder",
"person": {
"rrn": null,
"name": "Butt Sarfraz",
"address": null,
"birth_date": null
},
"effective_date": "2024-07-01",
"evidence_quote": "Mr Butt Sarfraz (5 parts sociales), est nomm\u00E9 comme administrateur au 01.07.2024."
},
{
"kind": "director_in",
"role": "bestuurder",
"person": {
"rrn": null,
"name": "Mulembakani Alain-Olivier",
"address": null,
"birth_date": null
},
"effective_date": "2024-07-01",
"evidence_quote": "Mr. Mulembakani Alain-Olivier (5 parts sociales), est nomm\u00E9 comme administrateur au 01.07.2024."
}
],
"schema": "v3.2",
"act_meta": {
"model_id": 36,
"extractor": "constrained-core-35b"
},
"subject_company": {
"kbo": "0748.993.814",
"name_full": "MAX STAR",
"legal_form": "SRL"
}
}29-06-2020 Incorporation of a new SRL
Technical details
{
"kind": "oprichting",
"seat": "1000 Bruxelles, Boulevard Adolphe Max 129",
"schema": "v3.2",
"act_meta": {
"model_id": 36,
"extractor": "constrained-core-35b"
},
"founders": [
{
"org": null,
"kind": "natural_person",
"person": {
"dob": "1962-02-06",
"name": "IQBAL Azhar",
"niss": null,
"address": "1000 Bruxelles, Boulevard Adolphe Max 129"
},
"share_class": "Ordinary",
"partner_role": null,
"holder_org_kbo": null,
"holder_org_name": null,
"contribution_type": "cash",
"amount_paid_in_eur": 2500,
"holder_person_name": "IQBAL Azhar",
"is_subscriber_only": true,
"n_shares_subscribed": 25,
"amount_subscribed_eur": 2500,
"is_anonymous_silent_partner": false
},
{
"org": null,
"kind": "natural_person",
"person": {
"dob": "1996-11-10",
"name": "IQBAL Qasim Azhar",
"niss": null,
"address": "1000 Bruxelles, Boulevard Adolphe Max 129"
},
"share_class": "Ordinary",
"partner_role": null,
"holder_org_kbo": null,
"holder_org_name": null,
"contribution_type": "cash",
"amount_paid_in_eur": 7500,
"holder_person_name": "IQBAL Qasim Azhar",
"is_subscriber_only": true,
"n_shares_subscribed": 75,
"amount_subscribed_eur": 7500,
"is_anonymous_silent_partner": false
}
],
"capital_eur": 10000,
"subject_company": {
"kbo": "0748.993.814",
"name_full": "MAX STAR",
"legal_form": "SRL"
},
"initial_directors": [],
"incorporation_date": "2020-06-24",
"post_incorporation_mandates": []
}Generate a structured, factual brief from every signal in this dossier: risk, financial health, ownership, mandates and sector comparison.
| Legal nameFR | MAX STAR |