MAXEST
ActiveSummary
The computed 12-month bankruptcy probability of MAXEST is 1.9% (moderate). The 2025 annual accounts show equity of €174,485 and a net result of €51,421. Equity is growing by ~47.3% per year across the filed fiscal years. Its solvency ranks better than 58% of 18400 sector peers (fiscal year 2025). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability85▼-15
Solvency69▼-20
Growth52▼-26
Track record94
Bankruptcy probability, 12 months
1.9%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €12,000 at 30 days acceptable
Liquidity ample (current ratio 2.27 against 2.39 in 2024; short-term debt: 21.1% and cash: 44.5% of total assets), but 56.3% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
43.7%
Return on assets
12.9%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 23-02-2026, 158 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
158 d early
2024
31 d early
2023
30 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€174,485▲ 41.8%
2024 · €123,064
Total assets
€399,180▲ 109%
2024 · €191,101
Net result
€51,421▼ 20.9%
2024 · €64,985
Working capital
€106,832▲ 13.1%
2024 · €94,458
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line202320242025
Operating result€77,780-€87,350▲ 12.3%€65,631▼ 24.9%
Net result€57,079-€64,985▲ 13.9%€51,421▼ 20.9%
Equity€58,079-€123,064▲ 112%€174,485▲ 41.8%
Total assets€113,163-€191,101▲ 68.9%€399,180▲ 109%
Debt€55,084-€68,037▲ 23.5%€224,695▲ 230%
Working capital€32,779-€94,458▲ 188%€106,832▲ 13.1%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 25% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €399,180
Fixed assets
€208,038 ▲ 627%
Current assets
€191,141 ▲ 17.6%
Equity and liabilities €399,180
Equity
€174,485 ▲ 41.8%
Debt
€224,695 ▲ 230%
Debt's share of the balance-sheet total rises from 35.6% to 56.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€92,826▼
2024 · €97,917
Cash flow
€78,616▲
2024 · €75,553
Current ratio
2.27▼
2024 · 2.39
Debt to equity
1.29▲
2024 · 0.55
ROE
29.5%▼
2024 · 52.8%
ROA
12.9%▼
2024 · 34.0%
Interest coverage
29.73▼
2024 · 482.87
Debt ≤ 1 year
€84,309▲
2024 · €68,037
Debt > 1 year
€139,986
Income taxes
€11,087▼
2024 · €22,162
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10,019 | €10,567 | €27,195 | ▲ 157% |
| Other operating charges640/8 | €5,167 | €5,654 | €5,627 | ▼ 0.5% |
| Non-recurring operating charges66A | - | €234 | €63 | ▼ 72.9% |
| Gross operating margin9900 | €92,966 | €103,805 | €98,516 | ▼ 5.1% |
| Operating profit (loss)9901 | €77,780 | €87,350 | €65,631 | ▼ 24.9% |
| Financial charges65/66B | €1,428 | €203 | €3,123 | ▲ 1,440% |
| Recurring financial charges65 | €1,428 | €203 | €3,123 | ▲ 1,440% |
| Profit (loss) for the period before taxes9903 | €76,352 | €87,147 | €62,508 | ▼ 28.3% |
| Income taxes67/77 | €19,274 | €22,162 | €11,087 | ▼ 50.0% |
| Profit (loss) for the period9904 | €57,079 | €64,985 | €51,421 | ▼ 20.9% |
| Profit (loss) for the period to be appropriated9905 | €57,079 | €64,985 | €51,421 | ▼ 20.9% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €113,163 | €191,101 | €399,180 | ▲ 109% |
| Fixed assets21/28 | €25,300 | €28,606 | €208,038 | ▲ 627% |
| Tangible fixed assets22/27 | €25,300 | €28,606 | €208,038 | ▲ 627% |
| Plant, machinery and equipment23 | €21,524 | €26,585 | €19,456 | ▼ 26.8% |
| Furniture and vehicles24 | €3,776 | €2,021 | €268 | ▼ 86.7% |
| Leasing and similar rights25 | - | - | €188,314 | - |
| Current assets29/58 | €87,863 | €162,494 | €191,141 | ▲ 17.6% |
| Amounts receivable within one year40/41 | €5,115 | €1,539 | €7,902 | ▲ 414% |
| Trade receivables40 | €5,115 | €500 | - | - |
| Other amounts receivable41 | - | €1,039 | €7,902 | ▲ 661% |
| Cash at bank and in hand54/58 | €79,958 | €158,677 | €177,564 | ▲ 11.9% |
| Deferred charges and accrued income490/1 | €2,790 | €2,279 | €5,675 | ▲ 149% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €113,163 | €191,101 | €399,180 | ▲ 109% |
| Equity10/15 | €58,079 | €123,064 | €174,485 | ▲ 41.8% |
| Contributions10/11 | €1,000 | €1,000 | €1,000 | = |
| Profit (loss) carried forward14 | €57,079 | €122,064 | €173,485 | ▲ 42.1% |
| Amounts payable17/49 | €55,084 | €68,037 | €224,695 | ▲ 230% |
| Amounts payable after more than one year17 | - | - | €139,986 | - |
| Financial debts170/4 | - | - | €139,986 | - |
| Amounts payable within one year42/48 | €55,084 | €68,037 | €84,309 | ▲ 23.9% |
| Current portion of amounts payable after more than one year42 | - | - | €21,758 | - |
| Trade debts44 | €646 | - | €3,041 | - |
| Suppliers440/4 | €646 | - | €3,041 | - |
| Taxes, remuneration and social security45 | €21,644 | €41,470 | €34,300 | ▼ 17.3% |
| Taxes450/3 | €21,644 | €41,470 | €34,300 | ▼ 17.3% |
| Other amounts payable47/48 | €32,794 | €26,567 | €25,210 | ▼ 5.1% |
| Accrued charges and deferred income492/3 | - | - | €400 | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €57,079 | €64,985 | €51,421 | ▼ 20.9% |
| + Depreciation and write-downs630 | €10,019 | €10,567 | €27,195 | ▲ 157% |
| Operating cash flow (approximation) | €67,098 | €75,553 | €78,616 | ▲ 4.1% |
| Investment in fixed assets (approximation) | - | -€13,874 | -€206,628 | ▼ 1,389% |
| Change in cash | - | €78,719 | €18,887 | ▼ 76.0% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
23-02
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet €51,421 ▼20.9%
Net result drops to €51,421, the lowest in the series.
31-12
Financial
Equity above €150,000Eq €174,485 ▲41.8%
3 profitable years in a row build equity to €174,485.
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2023net €64,985 ▲13.9%
Operating result €87,350, net result €64,985, both a record.
31-12
Financial
Equity above €100,000Eq €123,064 ▲112%
2 profitable years in a row build equity to €123,064.
01-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Nivelles · 1 establishment unit since 2022
Ground area
7,053 m²
Building footprint
1,535 m²
Volume, LiDAR
9,409 m³
2 parcels, Wallonia · tallest building 9.3 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Chemin de la Vieille-Cour 59, 1400 Nivelles
since 20222.338.032.669
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25099D0046/00P000 | Wallonia | 6,499 m² | 1 · 1,434 m² | 7.5 m · 2 fl. |
| 25072B0502/00F004 | Wallonia | 554 m² | 1 · 101 m² | 9.3 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
1 siteNivelles2.338.032.669
Similar companies · same sector, comparable size
DESAEGER
BE 0884.078.883
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BE 0631.959.849
Herenthout · Eq €174,341
V.D.V.-POL
BE 0828.865.097
Zoutleeuw · Eq €174,182
VLEESHANDEL VANDEPERRE
BE 0476.793.008
Olen · Eq €174,125
Top Fruit Med
BE 0775.417.010
Brussel · Eq €174,851
Of 3,824 companies in sector 47210 we hold annual accounts for 965. 727 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded17-11-2022
Fiscal year end31-12
Activities, NACEBEL 2025
47210Retail sale of fruit and vegetables
47222Retail trade
47221Retail sale of meat and meat products, excluding game and poultry
Scores and ratios are computed by Checked and are not a credit decision.