MAX2SYSTEM
Open bankruptcyAre you a creditor?
Open bankruptcy
Source: Belgian Official Gazette
If this company owes you money, you are not paid automatically: you file your claim yourself, within the deadline the judgment sets.
The procedure
- Court
- French-language Enterprise Court of Brussels
- Declared bankrupt
- 28 September 2026
- Supervising judge
- Leon Niessen
- Official Gazette
- 05-10-2026 (pdf) ↗search the document for 2026/141178
Deadlines
- Appeal or third-party opposition until
- passed on 20 October 2026Fifteen days after the publication in the Official Gazette.art. XX.108, Code of Economic Law
- File the claim in RegSol, the Belgian insolvency register, until
- 28 October 2026art. XX.104 and XX.155, Code of Economic Law
- First verification report
- 4 November 2026Reclaim goods that are still yours, such as goods delivered under retention of title, before this day.art. XX.104 and XX.194, Code of Economic Law
- Late claim until
- 28 September 2027A late claim shares only in what has not yet been paid out, and you bear its costs.art. XX.165, Code of Economic Law
Trustee
- Jerome HenriAvenue Roger Vanden- Driessche 18, 1150 Woluwe-Saint-Pierre- solon.eu
What to do now
- Stop delivering on credit unless the trustee agrees.
- Gather your documents: invoices, purchase orders, contract, delivery notes and reminders.
- File your proof of claim in RegSol (regsol.be), yourself with eID or itsme, or through your lawyer. State principal, interest and costs separately, and any preferential right you hold.
- Delivered under retention of title? Reclaim your goods before the first report on the verification of claims.
- Ask your accountant about the VAT on the unpaid invoices: in a bankruptcy it can be recovered, subject to conditions.
- Follow the file in RegSol: the verification report (admitted or disputed) and the trustee's reports appear there.
These deadlines come from the publication of the judgment. Check them in RegSol before you file anything; once a deadline has passed, it is too late for that step.
File a claim in RegSol ↗
Follow
Follow this bankruptcy: you are alerted when it is closed or reversed.
General information, not legal advice. If in doubt, the trustee, your lawyer or your accountant can help.Creditor guide for this company
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Overview
Activity
Cafés and bars
NACE 56301
2 sites
Size
€266,953total assets 2023
- Staff
- 3.8 FTE
- Equity
- €37,896
- Profit
- €202,022
Turnover not published (micro format)
Financial health
Open bankruptcy: no score
Signalsraises riskOpen bankruptcy2023 accounts filed 84 days lateShow the evidence
Signals
Two signals.
raises risk
raises risk · 2023 accounts filed 84 days late
The financial year that closed on 31-12-2023 was due by 31-07-2024 and was filed on 23-10-2024, 84 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 · 8 filingsDeviation from the deadline
2023
84 days late
2022
39 days late
2021
37 days early
2020
8 days early
2019
21 days early
2018
27 days early
2017
18 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 2 days after the deadline; the sector median (NACE 56) for financial year 2023 is 14 days after the deadline, and 55% of those companies filed late.
Searched, nothing found (1)
- OpeningFrench-language Enterprise Court of Brussels…
- Appointment: STOICESCU Marian (director)Resignation: OUAJMAN Mehdi (director) ·…
- Resignation: Bellanti Alex (director)Appointment: Ouajman Mehdi (director) ·…
Financials · financial year 2023, micro format
2023 annual accounts filed late (84 days) Filed on 23 October 2024, deadline 31 July 2024 (7 months after the close on 31 December 2023, Companies Code art. 3:10). Source: NBB, 2024-00515002.
Equity
€37,896
2022 · -€164,126
Total assets
€266,953▲ 180%
2022 · €95,303
Net result
€202,022
2022 · -€153,953
Working capital
-€34,556▲ 82.7%
2022 · -€199,898
Trend over the years
2019 to 2023, 5 financial years 2018 to 2023, 6 financial years
The operating result returns to profit in 2023: €206,539 after a loss of €153,695 in 2022, the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€206,539
2023
Net result€202,022
2023
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€266,953
2023
Equity€37,896
2023
Debt€229,058
2023
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€34,556
2023
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)75.7%
2023
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency14.2%
2023
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.85
2023
Average staff in full-time equivalents (FTE).
Staff (FTE)3.8
2023
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 56, Food and beverage service activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line201820192020202120222023
Operating result€4,192-€15,540▲ 271%€4,582▼ 70.5%-€36,524-€153,695▼ 321%€206,539
Net result€3,711-€11,269▲ 204%€4,404within the sector's middle half▼ 60.9%-€36,996below the sector's middle half-€153,953below the sector's middle half▼ 316%€202,022above the sector's middle half
Equity€11,149-€22,419▲ 101%€26,823within the sector's middle half▲ 19.6%-€10,173below the sector's middle half-€164,126below the sector's middle half▼ 1,513%€37,896within the sector's middle half
Total assets€29,644-€56,127▲ 89.3%€33,258below the sector's middle half▼ 40.7%€29,245below the sector's middle half▼ 12.1%€95,303within the sector's middle half▲ 226%€266,953above the sector's middle half▲ 180%
Debt€18,494-€24,708▲ 33.6%€6,435▼ 74.0%€39,418▲ 513%€259,429▲ 558%€229,058▼ 11.7%
Working capital-€2,688-€23,741€22,413within the sector's middle half▼ 5.6%€14,561within the sector's middle half▼ 35.0%-€199,898below the sector's middle half-€34,556below the sector's middle half▲ 82.7%
Solvency37.6%-39.9%▲ 2.3pp80.7%above the sector's middle half▲ 40.7pp-34.8%below the sector's middle half▼ 115.4pp-172.2%below the sector's middle half▼ 137.4pp14.2%within the sector's middle half▲ 186.4pp
Current ratio0.85-1.96▲ 1.114.48above the sector's middle half▲ 2.522.03within the sector's middle half▼ 2.450.15below the sector's middle half▼ 1.880.85within the sector's middle half▲ 0.70
Return on assets (ROA)12.5%-20.1%▲ 7.6pp13.2%within the sector's middle half▼ 6.8pp-126.5%below the sector's middle half▼ 139.7pp-161.5%below the sector's middle half▼ 35.0pp75.7%above the sector's middle half▲ 237.2pp
Staff (FTE)1.5-1.4▼ 6.7%1.5within the sector's middle half▲ 7.1%2.9▲ 93.3%3.8
above
within
below
the middle half of NACE 56, Food and beverage service activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the micro format does not require them.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €266,953
Fixed assets
€72,451 ▲ 18.7%
Current assets
€194,502 ▲ 468%
Equity and liabilities €266,953
Equity
€37,896
Debt
€229,058
Debt finances 85.8% of the balance-sheet total.
Key figures and ratios
EBITDA
€209,703▲
2022 · -€150,531
Cash flow
€205,185▲
2022 · -€150,789
Debt to equity
6.04
ROE
533.1%
Debt ≤ 1 year
€229,058▼
2022 · €234,169
Income taxes
€4,517
Staff costs
€144,758▲
2022 · €8,000
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €13,863 | €8,000 | €144,758 | ▲ 18× |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,857 | €6,159 | €4,181 | €3,885 | €3,164 | €3,164 | = |
| Other operating charges640/8 | - | - | - | €1,776 | €9,549 | - | - |
| Gross operating margin9900 | €32,165 | €56,149 | €12,439 | -€17,000 | -€132,982 | €354,461 | - |
| Operating profit (loss)9901 | €4,192 | €15,540 | €4,582 | -€36,524 | -€153,695 | €206,539 | - |
| Recurring financial income75 | €1 | €149 | €25 | - | - | - | - |
| Financial charges65/66B | - | - | - | €335 | €258 | - | - |
| Recurring financial charges65 | €149 | €266 | €155 | €335 | €258 | - | - |
| Profit (loss) for the period before taxes9903 | €4,044 | €15,423 | €4,452 | -€36,858 | -€153,953 | €206,539 | - |
| Income taxes67/77 | €333 | €4,154 | €48 | €138 | - | €4,517 | - |
| Profit (loss) for the period9904 | €3,711 | €11,269 | €4,404 | -€36,996 | -€153,953 | €202,022 | - |
| Profit (loss) for the period to be appropriated9905 | €3,711 | €11,269 | €4,404 | -€36,996 | -€153,953 | €202,022 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €29,644 | €56,127 | €33,258 | €29,245 | €95,303 | €266,953 | ▲ 180% |
| Fixed assets21/28 | €13,837 | €7,678 | €4,411 | €526 | €61,032 | €72,451 | ▲ 18.7% |
| Tangible fixed assets22/27 | €13,652 | €7,493 | €4,226 | €341 | €60,847 | €72,266 | ▲ 18.8% |
| Plant, machinery and equipment23 | - | - | - | €341 | €55,180 | €69,433 | ▲ 25.8% |
| Furniture and vehicles24 | - | - | - | - | €5,667 | €2,833 | ▼ 50.0% |
| Financial fixed assets28 | €185 | €185 | €185 | €185 | €185 | €185 | = |
| Current assets29/58 | €15,806 | €48,449 | €28,848 | €28,719 | €34,271 | €194,502 | ▲ 468% |
| Stocks and contracts in progress3 | €1,500 | €1,500 | €1,500 | - | - | - | - |
| Amounts receivable within one year40/41 | €12,962 | €19,636 | €1,022 | €22,413 | €14,881 | €175,111 | ▲ 12× |
| Other amounts receivable41 | - | - | - | €22,413 | €14,881 | €175,111 | ▲ 12× |
| Cash at bank and in hand54/58 | €1,344 | €26,251 | €26,180 | €6,259 | €19,343 | €19,343 | = |
| Deferred charges and accrued income490/1 | - | - | - | €48 | €48 | €48 | = |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €29,644 | €56,127 | €33,258 | €29,245 | €95,303 | €266,953 | ▲ 180% |
| Equity10/15 | €11,149 | €22,419 | €26,823 | -€10,173 | -€164,126 | €37,896 | - |
| Contributions10/11 | €11,050 | €11,050 | - | €11,050 | €11,050 | €11,050 | = |
| Contributions outside capital11 | - | - | - | - | €11,050 | €11,050 | = |
| Other1109/19 | - | - | - | - | €11,050 | €11,050 | = |
| Profit (loss) carried forward14 | €99 | €11,369 | €15,773 | -€21,223 | -€175,176 | €26,846 | - |
| Provisions and deferred taxes16 | - | €9,000 | - | - | - | - | - |
| Amounts payable17/49 | €18,494 | €24,708 | €6,435 | €39,418 | €259,429 | €229,058 | ▼ 11.7% |
| Amounts payable within one year42/48 | €18,494 | €24,708 | €6,435 | €14,158 | €234,169 | €229,058 | ▼ 2.2% |
| Trade debts44 | €9,965 | €15,906 | €5,302 | €12,826 | €12,456 | - | - |
| Suppliers440/4 | - | - | - | €12,826 | €12,456 | - | - |
| Taxes, remuneration and social security45 | - | - | - | €1,332 | €1,218 | €10,318 | ▲ 747% |
| Taxes450/3 | - | - | - | €138 | €24 | €10,318 | ▲ 439× |
| Remuneration and social security454/9 | - | - | - | €1,195 | €1,195 | - | - |
| Other amounts payable47/48 | - | - | - | - | €220,495 | €218,740 | ▼ 0.8% |
| Accrued charges and deferred income492/3 | - | - | - | €25,260 | €25,260 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,711 | €11,269 | €4,404 | -€36,996 | -€153,953 | €202,022 | - |
| + Depreciation and write-downs630 | €6,857 | €6,159 | €4,181 | €3,885 | €3,164 | €3,164 | = |
| Operating cash flow (approximation) | €10,568 | €17,429 | €8,586 | -€33,111 | -€150,789 | €205,185 | - |
| Investment in fixed assets (approximation) | - | €0 | -€914 | €0 | -€63,670 | -€14,583 | ▲ 77.1% |
| Change in cash | - | €24,906 | -€71 | -€19,921 | €13,084 | €0 | ▼ 100% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (8)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2023 | micro format | 23-10-2024 | 2024-00515002 |
| 31-12-2022 | micro format | 08-09-2023 | 2023-00445188 |
| 31-12-2021 | micro format | 24-06-2022 | 2022-20158604 |
| 31-12-2020 | micro format | 23-07-2021 | 2021-39600125 |
| 31-12-2019 | micro format | 10-07-2020 | 2020-29400330 |
| 31-12-2018 | micro format | 04-07-2019 | 2019-29000240 |
| 31-12-2017 | micro format | 13-07-2018 | 2018-33100389 |
| 31-12-2016 | micro format | 01-03-2018 | 2018-06100328 |
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Of the 13,714 active companies whose main activity is cafés and bars (NACE 56301), figures are known for 5,024. 4,212 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Directors
1 director, last change in 2025
Stoicescu Marian
CurrentDirector · since 03-12-2025
Derived from published Gazette deeds. The KBO keeps the official list of office holders; we do not read it, so the two can differ.
See the directors and other office holders in the KBO →
Not every act has been read: a resignation may still be missing
6 of this company's 10 Belgian Official Gazette deeds have not been read yet. Appointments and resignations recorded in them are not yet in the list of directors: someone who resigned there may still be listed as sitting. The acts are in the Timeline.
Mandate history
4 people since 2023, 1 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Stoicescu Marian |
|
| Ouajman Mehdi |
|
| Bellanti Alex |
|
| Messena Raffaele |
|
Insolvency mandates
2 mandates| Role | Name | Tenure |
|---|---|---|
| Trustee | Jerome Henri Avenue Roger Vanden- Driessche 18, 1150 Woluwe-Saint-Pierre- solon.eu |
28-09-2026 → present |
| Trustee | Maia Gutmann Le Paige Rue De La Loi 28, 1040 Etterbeek |
30-09-2024 → 29-11-2024 |
Owners and capital
Capital and shareholders
Shareholders according to the deeds
Share transfer
act of 23-03-2026 ↗
- OUAJMAN Mehdi to STOICESCU Marian 100 shares
Stated in the act
act of 23-05-2025 ↗
- Ouajman Mehdi 100%
Stated in the act
act of 06-10-2023 ↗
- Bellanti Alex 100%
The Belgian Official Gazette names shareholders only when an act mentions them; the share register itself is not published.
Capital over the years
- 12-01-2024 Converted to unavailable equity
Group and network
Connections & network
3 connected companiesThis company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Linked via shared directors
DSS
via Stoicescu Marian · Director
→
EUROPA-LINE
via Stoicescu Marian · Director
→
SAGHAR
via Stoicescu Marian · Director
→
History
Acts, filings and financial milestones
2026
05-10
Bankruptcy
Opening
French-language Enterprise Court of Brussels · judgment of 28-09-2026
23-03
Gazette deed
Appointment: STOICESCU Marian (director)Resignation: OUAJMAN Mehdi (director) · Director discharge · Share transfer6 facts ▸
Gazette deed
Appointment: STOICESCU Marian (director)
Resignation: OUAJMAN Mehdi (director) · Director discharge · Share transfer6 facts ▸
- General meeting, 03-12-2025
- Director appointment, STOICESCU Marian (director)
- Director resignation, OUAJMAN Mehdi (director)
- Director discharge, OUAJMAN Mehdi
- Share transfer, OUAJMAN Mehdi → STOICESCU Marian
- Registered-office move, Rue Formanoir 18, 1070 Anderlecht
2025
23-05
Gazette deed
Resignation: Bellanti Alex (director)Appointment: Ouajman Mehdi (director) · Shareholding · Registered-office move7 facts ▸
Gazette deed
Resignation: Bellanti Alex (director)
Appointment: Ouajman Mehdi (director) · Shareholding · Registered-office move7 facts ▸
- General meeting, 16-05-2025
- Director resignation, Bellanti Alex (director)
- Director appointment, Ouajman Mehdi (director)
- Shareholding, 100
- Registered-office move, Rue Allard 1-3-5 1030 Schaerbee
- Director discharge, Bellanti Alex
- Other provision, “prise de connaissance de l'actif et du passif” (deed in French)
2024
18-12
Bankruptcy
Bankruptcy reversal
French-language Enterprise Court of Brussels · judgment of 29-11-2024
23-10
NBB filing
Annual accounts filed
financial year 2023 · micro format · 84 days late
07-10
Bankruptcy
Opening
French-language Enterprise Court of Brussels · judgment of 30-09-2024
12-01
Gazette deed
Resignation: BELLANTI Alex (manager)Appointment: BELLANTI Alex (director) · Amendment of the articles · Capital conversion10 facts ▸
Gazette deed
Resignation: BELLANTI Alex (manager)
Appointment: BELLANTI Alex (director) · Amendment of the articles · Capital conversion10 facts ▸
- General meeting, 08-11-2023
- Amendment of the articles (2 times)
- Capital conversion, “compte de capitaux propres statutairement indisponible” (deed in French)
- Capital
- Registered office clause, “1210 Saint-Josse-ten-Noode,rue d’Aerschot 2” (deed in French)
- Director resignation, BELLANTI Alex (manager)
- Director appointment, BELLANTI Alex (director (not named in the articles))
- Director discharge, BELLANTI Alex
- Power of attorney, Guy Descamps
- Power of attorney
2023
31-12
Financial
Back to profitnet €202,022
Net result €202,022 after 2 loss-making years.
06-10
Gazette deed
Resignation: Messena Raffaele (manager)Shareholding3 facts ▸
Gazette deed
Resignation: Messena Raffaele (manager)
Shareholding3 facts ▸
- General meeting, 21-09-2023
- Director resignation, Messena Raffaele (manager)
- Shareholding, 100
08-09
NBB filing
Annual accounts filed
financial year 2022 · micro format · 39 days late
2022
31-12
Financial
Weakest financial yearnet -€153,953
Net result drops to -€153,953, the lowest in the series.
24-06
NBB filing
Annual accounts filed
financial year 2021 · micro format
Show earlier events
2021
23-07
NBB filing
Annual accounts filed
financial year 2020 · micro format
2020
31-12
Financial
Liquidity more than doubledcurrent ratio 4.48
Current ratio from 1.96 to 4.48; short-term debt falls from €24,708 to €6,435.
10-07
NBB filing
Annual accounts filed
financial year 2019 · micro format
2019
31-12
Financial
Liquidity more than doubledcurrent ratio 1.96
Current ratio from 0.85 to 1.96.
04-07
NBB filing
Annual accounts filed
financial year 2018 · micro format
2018
13-07
NBB filing
Annual accounts filed
financial year 2017 · micro format
01-03
NBB filing
Annual accounts filed
financial year 2016 · micro format · 213 days late
SignalFinancial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
4 of 10 deeds read
About the unread acts
Of the 10 Belgian Official Gazette deeds we know for this company, 4 have been read. The other 6 have not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
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Register details
Identification
Legal formPrivate limited company
Founded07-01-2016
Financial year end31-12
Activities, NACEBEL 2025
56301Cafés and bars
E-invoicing
Not found in the Peppol Directory
No listing in the Peppol Directory under this enterprise or VAT number. That proves nothing: being listed there is voluntary.
Register as of 26 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Recognitions · licences · registrations
Food safety, FASFC
1 siteSint-Jans-Molenbeekunit no. 2.331.427.167
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
Location & real-estate footprint
Registered office, Anderlecht · 2 establishment units since 2022
Ground area
341 m²
Building footprint
291 m²
Building volume
5,247 m³
3 parcels, Brussels · tallest building 28.5 m. Linked by address, not a title deed.
5
companies at this address
See who is registered here
2 establishment units
TIME OUT
since 2022unit no. 2.331.427.167
SNACK GOURMANDISE
since 2025unit no. 2.374.535.551
3 parcels
Brussels
3
(100%)
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21522B0429/00E000 | Brussels | 147 m² | 1 · 142 m² | 28.5 m · 8 |
| 21001A0819/00S000 | Brussels | 113 m² | 1 · 75 m² | 15.0 m · 4 |
| 21908E0011/00S016indicative | Brussels | 81 m² | 1 · 74 m² | 14.4 m · 4 |
How the parcels are linked
Good to know
2 of 3 parcels with an exact address match; the rest are indicative.
Articles of association
What the company does
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- MAX2SYSTEM
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Simple décision, Région de Bruxelles-Capitale” (deed in French)
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “Fixé par l’assemblée,sans limitation par défaut, organe d’administration” (deed in French)“Frais généraux,hors frais représentation,voyages,déplacements, fixe ou proportionnelle” (deed in French)
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- One provision in the deed
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Third Tuesday of June at 19:00
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Assemblée générale délibérant dans les formes prévues pour les modifications aux statuts” (deed in French)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Dissolution pour quelque cause et à quelque moment que ce soit, administrateur(s) en fonction en vertu des statuts si aucun autre…” (deed in French)