MAXALIN
ActiveFrom the official registers: KBO 19 annual accounts at the National Bank publications in the Belgian Official Gazette
Summary
MAXALIN has been active since 2007 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €398,314 and a net result of €1,969. Equity remains stable across the filed financial years (±0.4% per year). Its solvency ranks better than 95% of 39,218 sector peers (NACE 70, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Financials · financial year 2025, micro format
Latest annual accounts filed
Annual accounts 2025
- Financial year ended
- 29-12-2025
- Filed on
- 27-07-2026
- Format
- micro format
- Reference
- 2026-00335368
Turnover
≈ €73,000
Estimated: probably between €42,000 and €99,000
Total assets
€415,133▼ 7.5%
2024 · €448,900
Net result
€1,969▲ 32×
2024 · €61
Working capital
€29,737▲ 164%
2024 · €11,281
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result has risen four years in a row; 2025 is 52% above 2024 and is 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€6,663
2025
Net result€1,969
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€415,133
2025
Equity€398,314
2025
Debt€16,819
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€29,737
2025
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)0.5%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency95.9%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio2.77
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 70, Activities of head offices; management consultancy 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).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€1,243--€1,794▼ 44.3%€839-€3,114-€2,839▲ 8.8%-€105▲ 96.3%€4,382€6,663▲ 52.1%
Net result€1,048-€188▼ 82.1%€2,469within the sector's middle half▲ 13×-€3,971below the sector's middle half-€4,939below the sector's middle half▼ 24.4%-€3,468below the sector's middle half▲ 29.8%€61below the sector's middle half€1,969below the sector's middle half▲ 32×
Equity€406,005-€406,193=€408,662above the sector's middle half▲ 0.6%€404,691above the sector's middle half▼ 1.0%€399,752above the sector's middle half▼ 1.2%€396,284above the sector's middle half▼ 0.9%€396,345above the sector's middle half=€398,314above the sector's middle half▲ 0.5%
Total assets€409,427-€407,638▼ 0.4%€411,191within the sector's middle half▲ 0.9%€421,667within the sector's middle half▲ 2.5%€434,023within the sector's middle half▲ 2.9%€430,204within the sector's middle half▼ 0.9%€448,900within the sector's middle half▲ 4.3%€415,133within the sector's middle half▼ 7.5%
Debt€3,422-€1,445▼ 57.8%€2,529▲ 75.0%€16,976▲ 571%€34,271▲ 102%€33,920▼ 1.0%€52,555▲ 54.9%€16,819▼ 68.0%
Working capital€84,106-€84,760▲ 0.8%€87,694within the sector's middle half▲ 3.5%-€1,030below the sector's middle half-€3,050below the sector's middle half▼ 196%-€5,259below the sector's middle half▼ 72.4%€11,281within the sector's middle half€29,737within the sector's middle half▲ 164%
Solvency99.2%-99.6%▲ 0.5pp99.4%above the sector's middle half▼ 0.3pp96.0%above the sector's middle half▼ 3.4pp92.1%above the sector's middle half▼ 3.9pp92.1%above the sector's middle half=88.3%above the sector's middle half▼ 3.8pp95.9%above the sector's middle half▲ 7.7pp
Current ratio25.58-59.65▲ 34.0735.67above the sector's middle half▼ 23.980.94below the sector's middle half▼ 34.730.91below the sector's middle half▼ 0.030.84below the sector's middle half▼ 0.071.21within the sector's middle half▲ 0.372.77within the sector's middle half▲ 1.55
Return on assets (ROA)0.3%-0.0%▼ 0.2pp0.6%below the sector's middle half▲ 0.6pp-0.9%below the sector's middle half▼ 1.5pp-1.1%below the sector's middle half▼ 0.2pp-0.8%below the sector's middle half▲ 0.3pp0.0%below the sector's middle half▲ 0.8pp0.5%below the sector's middle half▲ 0.5pp
above
within
below
the middle half of NACE 70, Activities of head offices; management consultancy 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. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €415,133
Fixed assets
€368,577 ▼ 4.3%
Current assets
€46,556 ▼ 27.1%
Equity and liabilities €415,133
Equity
€398,314 ▲ 0.5%
Debt
€16,819 ▼ 68.0%
Debt's share of the balance-sheet total falls from 11.7% to 4.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€23,151▲
2024 · €20,860
Cash flow
€18,456▲
2024 · €16,539
Debt to equity
0.04▼
2024 · 0.13
ROE
0.5%▲
2024 · 0.0%
Interest coverage
over 100▲
2024 · 96.48
Debt ≤ 1 year
€16,819▼
2024 · €52,555
Income taxes
€4,509▲
2024 · €4,104
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 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €4,876 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €430 | €466 | €466 | €8,445 | €13,676 | €14,243 | €16,478 | €16,488 | ▲ 0.1% |
| Other operating charges640/8 | - | - | - | €3,819 | €3,005 | €1,801 | €1,768 | €1,954 | ▲ 10.6% |
| Gross operating margin9900 | €536 | €37 | €2,673 | €9,151 | €13,841 | €15,939 | €22,627 | €25,105 | ▲ 11.0% |
| Operating profit (loss)9901 | -€1,243 | -€1,794 | €839 | -€3,114 | -€2,839 | -€105 | €4,382 | €6,663 | ▲ 52.1% |
| Financial income75/76B | - | - | - | €53 | - | - | - | - | - |
| Recurring financial income75 | €2,989 | €3,068 | €3,253 | €53 | - | - | - | - | - |
| Financial charges65/66B | - | - | - | €107 | €221 | €399 | €216 | €186 | ▼ 13.9% |
| Recurring financial charges65 | €150 | €53 | €58 | €107 | €221 | €399 | €216 | €186 | ▼ 13.9% |
| Profit (loss) for the period before taxes9903 | €1,596 | €1,221 | €4,033 | -€3,168 | -€3,061 | -€505 | €4,166 | €6,477 | ▲ 55.5% |
| Income taxes67/77 | €548 | €1,034 | €1,564 | €803 | €1,879 | €2,963 | €4,104 | €4,509 | ▲ 9.8% |
| Profit (loss) for the period9904 | €1,048 | €188 | €2,469 | -€3,971 | -€4,939 | -€3,468 | €61 | €1,969 | ▲ 32× |
| Profit (loss) for the period to be appropriated9905 | €1,048 | €188 | €2,469 | -€3,971 | -€4,939 | -€3,468 | €61 | €1,969 | ▲ 32× |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €409,427 | €407,638 | €411,191 | €421,667 | €434,023 | €430,204 | €448,900 | €415,133 | ▼ 7.5% |
| Fixed assets21/28 | €321,899 | €321,434 | €320,968 | €405,721 | €402,802 | €401,542 | €385,065 | €368,577 | ▼ 4.3% |
| Tangible fixed assets22/27 | €1,899 | €1,434 | €968 | €85,721 | €82,802 | €81,542 | €65,065 | €48,577 | ▼ 25.3% |
| Land and buildings22 | - | - | - | - | €20,000 | €30,429 | €25,603 | €20,766 | ▼ 18.9% |
| Furniture and vehicles24 | - | - | - | €85,721 | €62,801 | €51,113 | €39,462 | €27,810 | ▼ 29.5% |
| Financial fixed assets28 | €320,000 | €320,000 | €320,000 | €320,000 | €320,000 | €320,000 | €320,000 | €320,000 | = |
| Current assets29/58 | €87,528 | €86,205 | €90,224 | €15,946 | €31,221 | €28,662 | €63,835 | €46,556 | ▼ 27.1% |
| Amounts receivable within one year40/41 | €87,498 | €86,129 | €89,550 | €8,849 | €28,236 | €25,073 | €59,651 | €40,172 | ▼ 32.7% |
| Trade receivables40 | - | - | - | €8,181 | €28,181 | €25,000 | €59,300 | €40,000 | ▼ 32.5% |
| Other amounts receivable41 | - | - | - | €668 | €54 | €73 | €351 | €172 | ▼ 51.0% |
| Cash at bank and in hand54/58 | €29 | €76 | €674 | €2,658 | €1,009 | €1,546 | €2,048 | €4,148 | ▲ 103% |
| Deferred charges and accrued income490/1 | - | - | - | €4,439 | €1,977 | €2,043 | €2,136 | €2,236 | ▲ 4.7% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €409,427 | €407,638 | €411,191 | €421,667 | €434,023 | €430,204 | €448,900 | €415,133 | ▼ 7.5% |
| Equity10/15 | €406,005 | €406,193 | €408,662 | €404,691 | €399,752 | €396,284 | €396,345 | €398,314 | ▲ 0.5% |
| Contributions10/11 | €320,000 | €320,000 | - | €320,000 | €320,000 | €320,000 | €320,000 | €320,000 | = |
| Reserves13 | €86,005 | €86,193 | €88,662 | €84,691 | €79,752 | €76,284 | €76,345 | €78,314 | ▲ 2.6% |
| Non-distributable reserves130/1 | - | - | - | €32,000 | €32,000 | €32,000 | €32,000 | €32,000 | = |
| Reserves not available under the articles1311 | - | - | - | €32,000 | €32,000 | €32,000 | €32,000 | €32,000 | = |
| Distributable reserves133 | - | - | - | €52,691 | €47,752 | €44,284 | €44,345 | €46,314 | ▲ 4.4% |
| Amounts payable17/49 | €3,422 | €1,445 | €2,529 | €16,976 | €34,271 | €33,920 | €52,555 | €16,819 | ▼ 68.0% |
| Amounts payable within one year42/48 | €3,422 | €1,445 | €2,529 | €16,976 | €34,271 | €33,920 | €52,555 | €16,819 | ▼ 68.0% |
| Trade debts44 | €1,151 | - | €179 | €778 | €8,240 | €1,235 | €5,281 | €1,250 | ▼ 76.3% |
| Suppliers440/4 | - | - | - | €778 | €8,240 | €1,235 | €5,281 | €1,250 | ▼ 76.3% |
| Taxes, remuneration and social security45 | - | - | - | €2,953 | €5,017 | €8,189 | €12,183 | €8,859 | ▼ 27.3% |
| Taxes450/3 | - | - | - | €2,953 | €5,017 | €8,189 | €12,183 | €8,859 | ▼ 27.3% |
| Other amounts payable47/48 | - | - | - | €13,244 | €21,014 | €24,496 | €35,091 | €6,711 | ▼ 80.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,048 | €188 | €2,469 | -€3,971 | -€4,939 | -€3,468 | €61 | €1,969 | ▲ 32× |
| + Depreciation and write-downs630 | €430 | €466 | €466 | €8,445 | €13,676 | €14,243 | €16,478 | €16,488 | ▲ 0.1% |
| Operating cash flow (approximation) | €1,478 | €654 | €2,935 | €4,474 | €8,737 | €10,775 | €16,539 | €18,456 | ▲ 11.6% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€93,198 | -€10,758 | -€12,984 | €0 | €0 | - |
| Change in cash | - | €47 | €598 | €1,984 | -€1,649 | €537 | €502 | €2,100 | ▲ 318% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 19 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 29-12-2025 | micro format | 27-07-2026 | 2026-00335368 | NBB |
| 29-12-2024 | micro format | 29-07-2025 | 2025-00322698 | |
| 29-12-2023 | micro format | 30-07-2024 | 2024-00308352 | |
| 29-12-2022 | micro format | 24-07-2023 | 2023-00260925 | |
| 29-12-2021 | micro format | 31-08-2022 | 2022-20389527 | |
| 29-12-2020 | micro format | 22-07-2021 | 2021-38500420 | |
| 29-12-2019 | micro format | 27-07-2020 | 2020-33900200 | |
| 29-12-2018 | micro format | 01-07-2019 | 2019-25100569 | |
| 29-12-2017 | micro format | 02-07-2018 | 2018-25600434 | |
| 29-12-2016 | abbreviated format | 30-06-2017 | 2017-26400458 |
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Of the 82,509 active companies whose main activity is business and other management consultancy (NACE 70200), figures are known for 54,646. 37,167 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.