MAXAM

Active

Public limited companyfounded 200323 yrs activeBeiaardlaan 9, 8301 Knokke-Heist, BelgiumKBO/BCE: BE 0860.037.434

Summary

MAXAM has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.5m and a net result of €18,711. Equity is shrinking by ~12% per year across the filed fiscal years. Its solvency ranks better than 87% of 1323 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).

Risk analysis Watch Report Compare

MAXAMActiveChecked score 77/100

Risk analysis Report Compare

Checked score

Score 2025

77 / 100

Excellent

Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability70▲+9

Solvency100▲+9

Growth32=

Track record100

Bankruptcy probability, 12 months

0.3% Very low

0%0.5%1.5%4%10%≥ 25%

Credit up to €110,000 at 30 days acceptable

Liquidity short (current ratio 0.19 against 0.15 in 2024; short-term debt: 23.6% and cash: 0.4% of total assets), and 25.3% of the assets are financed with debt.

Credit check for your own amount and term

Show the recommended maximum : and see how the verdict changes with amount, term and advance.

Signals

Five signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Annual accounts: healthy financial profile

The latest annual accounts show a healthy profile in solvency, result and liquidity.

NBB · annual accounts 2025

Solvency, return and age of the figures

Solvency

74.7%

Return on assets

0.9%

Age of the figures

15 mo

Lower-risk legal form

Companies with this legal form statistically fail less often than a BV.

KBO · legal form

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 55

Relative position

BE, all sectors

reference

Accommodation (NACE 55)

about 6% more bankruptcies

← fewer bankruptcies more bankruptcies →

Latest accounts filed on time

The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 28-01-2026, 3 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

3 d early

2024

4 d late

2023

42 d early

2022

58 d early

2021

5 d early

2020

2 d early

2019

on the day

← 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 15 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 45% of the sector filed late.

Checked, nothing found (2)

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 months

Position in the running window

30-06-2026 close28-09-2026 today31-01-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

History

MAXAM was incorporated on 3 July 2003.¹ Total assets fell from EUR 5.5 million in 2019 to EUR 2 million in 2025 and headcount from 0.6 full-time equivalents in 2019 to 0.6 in 2021.²

Go further with this company

How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed

Is this your company? See how customers and banks see it.

Investigating this company? Keep it with today's facts in a case file.

Financials · fiscal year 2025, micro schema

Equity

€1.5m▲ 1.2%

2024 · €1.5m

Total assets

€2.0m▼ 10.1%

2024 · €2.3m

Net result

€18,711

2024 · -€144,740

Working capital

-€388,321▲ 34.8%

2024 · -€595,495

Trend over the years

Chart Table

Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 55, Accommodation, each year against the same schema; no band under 30 filings. Dashed line: the median.

Every figure with its change against the fiscal year before

favourable unfavourable

Line20212022202320242025

Operating result-€320,237-€121,727▲ 62.0%-€110,512▲ 9.2%-€138,304▼ 25.1%€24,824

Net result-€63,566-€126,523▼ 99.0%-€115,900▲ 8.4%-€144,740▼ 24.9%€18,711

Equity€2.2m▼ 9.5%€1.8m▼ 20.0%€1.6m▼ 6.6%€1.5m▼ 8.8%€1.5m▲ 1.2%

Total assets€3.1m▼ 23.7%€2.8m▼ 10.1%€2.6m▼ 7.3%€2.3m▼ 11.5%€2.0m▼ 10.1%

Debt€868,440▼ 45.5%€998,078▲ 14.9%€912,409▼ 8.6%€762,085▼ 16.5%€515,130▼ 32.4%

Working capital€42,330-€371,969-€487,812▼ 31.1%-€595,495▼ 22.1%-€388,321▲ 34.8%

Solvency71.7%▲ 11.3pp63.8%▼ 7.9pp64.3%▲ 0.5pp66.3%▲ 2.0pp74.7%▲ 8.4pp

Current ratio1.09▲ 0.240.48▼ 0.610.30▼ 0.180.15▼ 0.150.19▲ 0.04

Return on assets (ROA)-2.1%▼ 2.2pp-4.6%▼ 2.5pp-4.5%▲ 0.1pp-6.4%▼ 1.9pp0.9%▲ 7.3pp

Staff (FTE)0.6▼ 25.0%

above within below the middle half (P25 to P75) of NACE 55, Accommodation, each year against the same schema; no band under 30 filings.

Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result returns to profit in 2025: €24,824 after a loss of €138,304 in 2024, the highest result in the available series.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €2.0m

95.5%

Fixed assets €1.9m ▼ 10.0%

Current assets €92,337 ▼ 11.2%

Equity and liabilities €2.0m

74.7%

25.3%

Equity €1.5m ▲ 1.2%

Debt €515,130 ▼ 32.4%

Debt's share of the balance-sheet total falls from 33.7% to 25.3%. Equity is higher and debt is lower.

Key figures and ratios

2025 value · change against 2024

EBITDA

€209,170▲

2024 · €52,135

Cash flow

€203,057▲

2024 · €45,699

Debt to equity

0.34▼

2024 · 0.51

ROE

1.2%▲

2024 · -9.7%

Interest coverage

54.86▲

2024 · 8.98

Debt ≤ 1 year

€480,658▼

2024 · €699,450

Debt > 1 year

€34,472▼

2024 · €59,834

Income taxes

€2,316▲

2024 · €633

Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 14,733 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 96% are still going.

Small
20 years or older
solvency 30% or more
a profit under 5% of the balance sheet

0.2% went bankrupt

3.5% stopped otherwise

96% still going

A further 0.2% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a bankruptcy probability of 0.3% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.

The companies in ten equal groups, from lowest to highest expected share.
Group	Expected	Actual
1	0.2%	0.2%
2	0.3%	0.4%
3	0.5%	0.5%
4	0.6%	0.7%
5	0.8%	0.9%
6	1.2%	1.3%
7	1.5%	1.7%
8	1.7%	1.7%
9	2.7%	2.8%
10	5.3%	5.7%

The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 14,733 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.

Annual accounts

OverviewIncome statement Balance sheet Cash flow

Filed annual accounts As filed with the NBB · 2025 against 2024 · 53 lines

Balance sheet Code20242025

Assets

Total assets20/58€2.3m€2.0m▼

Fixed assets21/28€2.2m€1.9m▼

Intangible fixed assets21€3,866€2,258▼

Tangible fixed assets22/27€2.2m€1.9m▼

Land and buildings22€2.1m€1.9m▼

Furniture and vehicles24€79,118€58,458▼

Other tangible fixed assets26-€2,827

Current assets29/58€103,954€92,337▼

Amounts receivable after more than one year29€0-

Other amounts receivable291€0-

Amounts receivable within one year40/41€84,181€75,462▼

Trade receivables40€77,091€69,308▼

Other amounts receivable41€7,090€6,154▼

Current investments50/53€10,066€0▼

Cash at bank and in hand54/58€9,708€8,041▼

Deferred charges and accrued income490/1-€8,835

Equity and liabilities

Total equity and liabilities10/49€2.3m€2.0m▼

Equity10/15€1.5m€1.5m▲

Contributions10/11€61,500€61,500=

Capital10€61,500€61,500=

Issued capital100€61,500€61,500=

Reserves13€1.4m€1.5m▲

Non-distributable reserves130/1€150,717€150,717=

Legal reserve130€150,717€150,717=

Distributable reserves133€1.3m€1.3m▲

Amounts payable17/49€762,085€515,130▼

Amounts payable after more than one year17€59,834€34,472▼

Financial debts170/4€59,834€34,472▼

Amounts payable within one year42/48€699,450€480,658▼

Current portion of amounts payable after more than one year42€152,119€25,362▼

Trade debts44€24,956€14,442▼

Suppliers440/4€24,956€14,442▼

Taxes, remuneration and social security45€633€4,136▲

Taxes450/3€633€4,136▲

Other amounts payable47/48€521,741€436,718▼

Accrued charges and deferred income492/3€2,801€0▼

Income statement Code20242025

Non-recurring operating income76A-€116,489

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€190,439€184,346▼

Other operating charges640/8€45,016€23,472▼

Gross operating margin9900€97,151€232,642▲

Operating profit (loss)9901-€138,304€24,824▲

Financial income75/76B€1€15▲

Recurring financial income75€1€15▲

Financial charges65/66B€5,803€3,813▼

Recurring financial charges65€5,803€3,813▼

Profit (loss) for the period before taxes9903-€144,107€21,026▲

Income taxes67/77€633€2,316▲

Profit (loss) for the period9904-€144,740€18,711▲

Profit (loss) for the period to be appropriated9905-€144,740€18,711▲

Appropriation of the result

Profit (loss) to be appropriated9906-€144,740€18,711▲

Transfer from equity791/2€144,740€0▼

Transfer to equity691/2-€18,711

To other reserves6921-€18,711

The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line	2021	2022	2023	2024	2025	Change
Non-recurring operating income76A	-	-	-	-	€116,489	-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630	€167,643	€174,284	€177,902	€190,439	€184,346	▼ 3.2%
Other operating charges640/8	-	€17,753	€16,077	€45,016	€23,472	▼ 47.9%
Gross operating margin9900	-€124,190	€70,310	€83,467	€97,151	€232,642	▲ 139%
Operating profit (loss)9901	-€320,237	-€121,727	-€110,512	-€138,304	€24,824	▲ 118%
Financial income75/76B	-	€1,861	€6	€1	€15	▲ 2,863%
Recurring financial income75	€300,698	€1,861	€6	€1	€15	▲ 2,863%
Financial charges65/66B	-	€6,062	€4,862	€5,803	€3,813	▼ 34.3%
Recurring financial charges65	€8,642	€6,062	€4,862	€5,803	€3,813	▼ 34.3%
Profit (loss) for the period before taxes9903	-€28,180	-€125,928	-€115,368	-€144,107	€21,026	▲ 115%
Income taxes67/77	€35,386	€595	€532	€633	€2,316	▲ 266%
Profit (loss) for the period9904	-€63,566	-€126,523	-€115,900	-€144,740	€18,711	▲ 113%
Profit (loss) for the period to be appropriated9905	-€63,566	-€126,523	-€115,900	-€144,740	€18,711	▲ 113%

Line	2021	2022	2023	2024	2025	Change
Assets
Total assets20/58	€3.1m	€2.8m	€2.6m	€2.3m	€2.0m	▼ 10.1%
Fixed assets21/28	€2.6m	€2.4m	€2.3m	€2.2m	€1.9m	▼ 10.0%
Intangible fixed assets21	-	€7,081	€5,474	€3,866	€2,258	▼ 41.6%
Tangible fixed assets22/27	€2.6m	€2.4m	€2.3m	€2.2m	€1.9m	▼ 10.0%
Land and buildings22	-	€2.4m	€2.2m	€2.1m	€1.9m	▼ 9.5%
Furniture and vehicles24	-	€3,546	€99,944	€79,118	€58,458	▼ 26.1%
Other tangible fixed assets26	-	-	-	-	€2,827	-
Current assets29/58	€495,294	€343,542	€208,580	€103,954	€92,337	▼ 11.2%
Amounts receivable after more than one year29	-	€78,196	€30,684	€0	-	-
Trade receivables290	-	€78,196	€30,684	-	-	-
Other amounts receivable291	-	-	-	€0	-	-
Amounts receivable within one year40/41	€131,727	€134,722	€64,134	€84,181	€75,462	▼ 10.4%
Trade receivables40	-	€58,044	€58,135	€77,091	€69,308	▼ 10.1%
Other amounts receivable41	-	€76,678	€5,999	€7,090	€6,154	▼ 13.2%
Current investments50/53	€200,000	€50,000	€50,000	€10,066	€0	▼ 100%
Cash at bank and in hand54/58	€23,869	€80,624	€63,762	€9,708	€8,041	▼ 17.2%
Deferred charges and accrued income490/1	-	-	-	-	€8,835	-
Equity and liabilities
Total equity and liabilities10/49	€3.1m	€2.8m	€2.6m	€2.3m	€2.0m	▼ 10.1%
Equity10/15	€2.2m	€1.8m	€1.6m	€1.5m	€1.5m	▲ 1.2%
Contributions10/11	€61,500	€61,500	€61,500	€61,500	€61,500	=
Capital10	-	€61,500	€61,500	€61,500	€61,500	=
Issued capital100	-	€61,500	€61,500	€61,500	€61,500	=
Reserves13	€2.1m	€1.7m	€1.6m	€1.4m	€1.5m	▲ 1.3%
Non-distributable reserves130/1	-	€150,717	€150,717	€150,717	€150,717	=
Legal reserve130	-	€150,717	€150,717	€150,717	€150,717	=
Distributable reserves133	-	€1.5m	€1.4m	€1.3m	€1.3m	▲ 1.5%
Amounts payable17/49	€868,440	€998,078	€912,409	€762,085	€515,130	▼ 32.4%
Amounts payable after more than one year17	€415,476	€279,761	€211,953	€59,834	€34,472	▼ 42.4%
Financial debts170/4	-	€279,761	€211,953	€59,834	€34,472	▼ 42.4%
Amounts payable within one year42/48	€452,965	€715,511	€696,392	€699,450	€480,658	▼ 31.3%
Current portion of amounts payable after more than one year42	-	€135,714	€151,518	€152,119	€25,362	▼ 83.3%
Trade debts44	€15,841	€10,384	€12,098	€24,956	€14,442	▼ 42.1%
Suppliers440/4	-	€10,384	€12,098	€24,956	€14,442	▼ 42.1%
Taxes, remuneration and social security45	-	€595	€532	€633	€4,136	▲ 553%
Taxes450/3	-	€595	€532	€633	€4,136	▲ 553%
Other amounts payable47/48	-	€568,817	€532,244	€521,741	€436,718	▼ 16.3%
Accrued charges and deferred income492/3	-	€2,806	€4,064	€2,801	€0	▼ 100%

Line	2021	2022	2023	2024	2025	Change
Profit (loss) for the period9904	-€63,566	-€126,523	-€115,900	-€144,740	€18,711	▲ 113%
+ Depreciation and write-downs630	€167,643	€174,284	€177,902	€190,439	€184,346	▼ 3.2%
Operating cash flow (approximation)	€104,077	€47,761	€62,001	€45,699	€203,057	▲ 344%
Investment in fixed assets (approximation)	-	-€14,968	-€111,294	€0	€32,281	-
Change in cash	-	€56,755	-€16,861	-€54,055	-€1,667	▲ 96.9%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

Download as CSV

Timeline · acts, filings and financial milestones

All 13Financial 2Gazette 1Filings 10

Next filing, fiscal year 2026, expected by 31-01-2027

2026

24-07

State Gazette act Appointments: Amber Desmedt (director) and Frank Desmedt (day-to-day manager)

Reappointments: Frank Desmedt, Pascale Vandewalle and Maxine Desmedt6 facts ▸

General meeting, 30-03-2026
Director appointment, Amber Desmedt (director)
Director reappointment, Frank Desmedt (director)
Director reappointment, Pascale Vandewalle (director)
Director reappointment, Maxine Desmedt (director)
Director appointment, Frank Desmedt (day-to-day manager)

28-01

NBB filing Annual accounts filed

fiscal year 2025 · micro schema

2025

30-06

Financial Back to profitnet €18,711

Net result €18,711 after 4 loss-making years.

04-02

NBB filing Annual accounts filed

fiscal year 2024 · micro schema · 4 days late

2024

30-06

Financial Weakest financial yearnet -€144,740

Net result drops to -€144,740, the lowest in the series; recovery starts the following year.

2023

20-12

NBB filing Annual accounts filed

fiscal year 2023 · micro schema

2022

04-12

NBB filing Annual accounts filed

fiscal year 2022 · micro schema

26-01

NBB filing Annual accounts filed

fiscal year 2021 · micro schema

2021

29-01

NBB filing Annual accounts filed

fiscal year 2020 · abbreviated schema

2020

31-01

NBB filing Annual accounts filed

fiscal year 2019 · abbreviated schema

2019

04-01

NBB filing Annual accounts filed

fiscal year 2018 · abbreviated schema

2018

30-01

NBB filing Annual accounts filed

fiscal year 2017 · abbreviated schema

2017

24-01

NBB filing Annual accounts filed

fiscal year 2016 · abbreviated schema

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

1 of 6 acts read

About the unread acts

Of the 6 Belgian State Gazette acts we know for this company, 1 has been read. The other 5 have not been read yet: what they contain is neither established nor disproved here.

Have them read with priority Sign in to place this company at the front of the reading queue.

Directors · office · real estate

Directors

under verification, last change in 2026

This board is reconstructed from a single act (26348260). A Gazette act generally publishes only CHANGES, not a full roll call, so directors unchanged since then may be missing here. The KBO register holds the complete list of function holders.

Board 4

Amber Desmedt

Director · since 30-03-2026

Current

Frank Desmedt

Director · since 30-03-2026

Current

Maxine Desmedt

Director · since 30-03-2026

Current

Pascale Vandewalle

Director · since 30-03-2026

Current

Day-to-day management 1

Frank Desmedt

Day-to-day manager · since 30-03-2026

Current

Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ. See the function holders in the CBE →

Not every act has been read: a resignation may be missing here

5 of this company's 6 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.

Location & real-estate footprint

Registered office, Knokke-Heist · 1 establishment unit since 2003

seat establishment The establishment unit on the map

Ground area

466 m²

Building footprint

166 m²

Volume, LiDAR

1,217 m³

Parcel 31338E0410/00_000, Flanders · tallest building 12.2 m, ±2 floors. Linked by address, not a title deed.

2 companies at this address See who is registered here

1 establishment unit

MAXAM

Beiaardlaan 9, 8301 Knokke-HeistNACE 70111

since 20032.132.422.264

1 parcel

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
31338E0410/00_000	Flanders	466 m²	1 · 165 m²	12.2 m · 2 fl.

Linked by address, not proof of ownership

Good to know

1 of 1 parcel with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Mandate history

4 people since 2026, 4 in office

All 4 In office 4

Board
Day-to-day management
began earlier

Mandates per person, with start and end dates
Name	Functions and periods
Amber Desmedt	Director, from 30-03-2026 to date
Frank Desmedt	Director, already before 30-03-2026 to date Day-to-day manager, from 30-03-2026 to date
Maxine Desmedt	Director, already before 30-03-2026 to date
Pascale Vandewalle	Director, already before 30-03-2026 to date

See the board, name and seat on a given date →

Structure & network

Connections & network

4 current directors

Depth

The network starts from this company’s directors. Other companies they run appear here as nodes.

This company Company Director Shareholding +N: links not shown yet Click a node to look further, drag to arrange, scroll to zoom.

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Of 1,854 companies in sector 55204 we hold annual accounts for 451. 163 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector

Identification & contact

Identification

Legal formPublic limited company

Founded03-07-2003

Fiscal year end30-06

Activities, NACEBEL 2025

55204Guest rooms (bed and breakfast)

68122Development of non-residential building projects

68110Buying and selling of own real estate

68201Renting and operating of own or leased residential real estate, excluding social housing

68203Renting and operating of own or leased non-residential real estate, excluding land

68204Real estate activities

70200Business and other management consultancy

E-invoicing

Reachable via Peppol

Peppol ID 0208:0860037434

Also 9925:BE0860037434

Registered 22-05-2025

Scores and ratios are computed by Checked and are not a credit decision.