MAXIME WARLING
ActiveSummary
The computed 12-month bankruptcy probability of MAXIME WARLING is 1.7% (moderate). The 2025 annual accounts show equity of €138,099 and a net result of €63,000. Equity is growing by ~31.2% per year across the filed fiscal years. Its solvency ranks better than 36% of 7625 sector peers (fiscal year 2025). The company has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability86▲+14
Solvency56▲+6
Growth78=
Track record100
Bankruptcy probability, 12 months
1.7%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €9,000 at 30 days acceptable
Liquidity tight (current ratio 1.14 against 1.5 in 2024; short-term debt: 30.2% and cash: 18.1% of total assets), and 69.5% 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
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 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% 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
30.5%
Return on assets
13.9%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 7 filingsDeviation from the deadline
2025
31 d late
2024
60 d late
2023
1 d early
2022
22 d late
2021
26 d late
2020
17 d late
2019
31 d late
← 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 27 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
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. Usually files around 26 August (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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 trust this company with building work?Contractor check 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
Your own company? See how customers, suppliers and banks see it and what to improve first.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
€138,099▲ 83.9%
2024 · €75,098
Total assets
€452,292▲ 50.7%
2024 · €300,055
Net result
€63,000▲ 709%
2024 · €7,788
Working capital
€18,938▼ 53.6%
2024 · €40,774
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, each year against the same schema; no band under 30 filings. 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 fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€9,407▲ 16.8%€28,463▲ 203%€3,996▼ 86.0%€17,375▲ 335%€84,460▲ 386%
Net result€7,915within the sector's middle half▲ 12.7%€27,412above the sector's middle half▲ 246%€2,247within the sector's middle half▼ 91.8%€7,788within the sector's middle half▲ 247%€63,000above the sector's middle half▲ 709%
Equity€37,652within the sector's middle half▲ 26.6%€65,064within the sector's middle half▲ 72.8%€67,311within the sector's middle half▲ 3.5%€75,098within the sector's middle half▲ 11.6%€138,099above the sector's middle half▲ 83.9%
Total assets€124,106within the sector's middle half▼ 2.4%€240,468within the sector's middle half▲ 93.8%€303,992above the sector's middle half▲ 26.4%€300,055above the sector's middle half▼ 1.3%€452,292above the sector's middle half▲ 50.7%
Debt€86,453▼ 11.2%€175,404▲ 103%€236,681▲ 34.9%€224,957▼ 5.0%€298,323▲ 32.6%
Working capital€1,186below the sector's middle half-€70,350below the sector's middle half€37,914within the sector's middle half€40,774within the sector's middle half▲ 7.5%€18,938within the sector's middle half▼ 53.6%
Solvency30.3%within the sector's middle half▲ 6.9pp27.1%within the sector's middle half▼ 3.3pp22.1%within the sector's middle half▼ 4.9pp25.0%within the sector's middle half▲ 2.9pp30.5%within the sector's middle half▲ 5.5pp
Current ratio1.03below the sector's middle half▲ 0.230.53below the sector's middle half▼ 0.491.48within the sector's middle half▲ 0.951.50within the sector's middle half▲ 0.011.14within the sector's middle half▼ 0.36
Return on assets (ROA)6.4%within the sector's middle half▲ 0.9pp11.4%within the sector's middle half▲ 5.0pp0.7%within the sector's middle half▼ 10.7pp2.6%within the sector's middle half▲ 1.9pp13.9%within the sector's middle half▲ 11.3pp
above
within
below
the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 386% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €452,292
Fixed assets
€296,944 ▲ 67.6%
Current assets
€155,348 ▲ 26.4%
Equity and liabilities €452,292
Equity
€138,099 ▲ 83.9%
Provisions
€15,870
Debt
€298,323 ▲ 32.6%
Debt's share of the balance-sheet total falls from 75.0% to 66.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€146,222▲
2024 · €60,540
Cash flow
€124,762▲
2024 · €50,953
Quick ratio
0.98▼
2024 · 1.20
Debt to equity
2.16▼
2024 · 3.00
ROE
45.6%▲
2024 · 10.4%
Interest coverage
23.81▲
2024 · 9.30
Debt ≤ 1 year
€136,410▲
2024 · €82,133
Debt > 1 year
€161,913▲
2024 · €142,824
Income taxes
€3,848▲
2024 · €3,078
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,781 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 97% are still going.
- Small
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
2.7%
stopped otherwise
97%
still going
For this company itself Checked computes a higher bankruptcy probability: 1.7% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 6,781 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
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €31,559 | €33,765 | €48,496 | €43,165 | €61,762 | ▲ 43.1% |
| Other operating charges640/8 | €819 | €646 | €1,075 | €969 | €1,356 | ▲ 39.9% |
| Gross operating margin9900 | €41,785 | €62,874 | €53,567 | €61,509 | €147,578 | ▲ 140% |
| Operating profit (loss)9901 | €9,407 | €28,463 | €3,996 | €17,375 | €84,460 | ▲ 386% |
| Financial income75/76B | €109 | €7 | €72 | €1 | €4,400 | ▲ 427,084% |
| Recurring financial income75 | €109 | €7 | €72 | €1 | €4,400 | ▲ 427,084% |
| Financial charges65/66B | €606 | €519 | €1,621 | €6,511 | €6,142 | ▼ 5.7% |
| Recurring financial charges65 | €606 | €519 | €1,621 | €6,511 | €6,142 | ▼ 5.7% |
| Profit (loss) for the period before taxes9903 | €8,909 | €27,951 | €2,448 | €10,865 | €82,718 | ▲ 661% |
| Transfer from deferred taxes780 | - | - | - | - | €1,630 | - |
| Transfer to deferred taxes680 | - | - | - | - | €17,500 | - |
| Income taxes67/77 | €994 | €539 | €201 | €3,078 | €3,848 | ▲ 25.0% |
| Profit (loss) for the period9904 | €7,915 | €27,412 | €2,247 | €7,788 | €63,000 | ▲ 709% |
| Transfer from tax-exempt reserves789 | - | - | - | - | €4,890 | - |
| Transfer to tax-exempt reserves689 | - | - | - | - | €52,500 | - |
| Profit (loss) for the period to be appropriated9905 | €7,915 | €27,412 | €2,247 | €7,788 | €15,391 | ▲ 97.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €124,106 | €240,468 | €303,992 | €300,055 | €452,292 | ▲ 50.7% |
| Fixed assets21/28 | €81,029 | €159,794 | €187,852 | €177,148 | €296,944 | ▲ 67.6% |
| Tangible fixed assets22/27 | €81,029 | €159,794 | €187,852 | €177,148 | €296,944 | ▲ 67.6% |
| Plant, machinery and equipment23 | €27,032 | €130,438 | €104,554 | €140,574 | €139,809 | ▼ 0.5% |
| Furniture and vehicles24 | €53,997 | €29,356 | €53,299 | €36,574 | €157,135 | ▲ 330% |
| Assets under construction and advance payments27 | - | - | €30,000 | - | - | - |
| Current assets29/58 | €43,076 | €80,674 | €116,139 | €122,907 | €155,348 | ▲ 26.4% |
| Stocks and contracts in progress3 | €4,650 | €26,440 | €31,300 | €24,500 | €22,100 | ▼ 9.8% |
| Stocks30/36 | €4,650 | €26,440 | €31,300 | €24,500 | €22,100 | ▼ 9.8% |
| Amounts receivable within one year40/41 | €19,534 | €34,721 | €40,656 | €29,015 | €36,928 | ▲ 27.3% |
| Trade receivables40 | €17,693 | €29,962 | €35,831 | €28,015 | €35,928 | ▲ 28.2% |
| Other amounts receivable41 | €1,841 | €4,758 | €4,825 | €1,000 | €1,000 | = |
| Cash at bank and in hand54/58 | €14,604 | €13,723 | €18,188 | €47,794 | €81,983 | ▲ 71.5% |
| Deferred charges and accrued income490/1 | €4,288 | €5,790 | €25,996 | €21,599 | €14,337 | ▼ 33.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €124,106 | €240,468 | €303,992 | €300,055 | €452,292 | ▲ 50.7% |
| Equity10/15 | €37,652 | €65,064 | €67,311 | €75,098 | €138,099 | ▲ 83.9% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €8,360 | €8,360 | €10,360 | €17,360 | €79,970 | ▲ 361% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | - | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | - | €1,860 | €1,860 | = |
| Tax-exempt reserves132 | - | - | - | - | €47,610 | - |
| Distributable reserves133 | €6,500 | €6,500 | €10,360 | €15,500 | €30,500 | ▲ 96.8% |
| Profit (loss) carried forward14 | €10,692 | €38,104 | €38,351 | €39,138 | €39,529 | ▲ 1.0% |
| Provisions and deferred taxes16 | - | - | - | - | €15,870 | - |
| Deferred taxes168 | - | - | - | - | €15,870 | - |
| Amounts payable17/49 | €86,453 | €175,404 | €236,681 | €224,957 | €298,323 | ▲ 32.6% |
| Amounts payable after more than one year17 | €44,563 | €24,380 | €158,456 | €142,824 | €161,913 | ▲ 13.4% |
| Financial debts170/4 | €44,563 | €24,380 | €158,456 | €142,824 | €161,913 | ▲ 13.4% |
| Amounts payable within one year42/48 | €41,891 | €151,024 | €78,225 | €82,133 | €136,410 | ▲ 66.1% |
| Current portion of amounts payable after more than one year42 | €22,686 | €21,344 | €45,467 | €41,438 | €70,471 | ▲ 70.1% |
| Trade debts44 | €2,825 | €102,581 | €11,582 | €19,771 | €38,706 | ▲ 95.8% |
| Suppliers440/4 | €2,825 | €102,581 | €11,582 | €19,771 | €38,706 | ▲ 95.8% |
| Taxes, remuneration and social security45 | €5,702 | €6,447 | €912 | €7,139 | €10,114 | ▲ 41.7% |
| Taxes450/3 | €5,702 | €6,447 | €912 | €7,139 | €10,114 | ▲ 41.7% |
| Other amounts payable47/48 | €10,678 | €20,652 | €20,265 | €13,785 | €17,119 | ▲ 24.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €7,915 | €27,412 | €2,247 | €7,788 | €63,000 | ▲ 709% |
| + Depreciation and write-downs630 | €31,559 | €33,765 | €48,496 | €43,165 | €61,762 | ▲ 43.1% |
| Operating cash flow (approximation) | €39,474 | €61,177 | €50,742 | €50,953 | €124,762 | ▲ 145% |
| Investment in fixed assets (approximation) | - | -€112,530 | -€76,554 | -€32,461 | -€181,558 | ▼ 459% |
| Change in cash | - | -€881 | €4,465 | €29,606 | €34,189 | ▲ 15.5% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
31-12
Financial
Highest result since 2019net €63,000 ▲709%
Operating result €84,460, net result €63,000, both a record.
31-12
Financial
Equity above €100,000Eq €138,099 ▲83.9%
7 profitable years in a row build equity to €138,099.
29-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 60 days late
2024
30-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet €2,247 ▼91.8%
Net result drops to €2,247, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity triplescurrent ratio 1.48
Current ratio from 0.53 to 1.48; short-term debt falls from €151,024 to €78,225.
22-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 22 days late
2022
26-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 26 days late
2021
17-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 17 days late
2020
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has 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
3 acts for this company are 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, Jalhay · 1 establishment unit since 2018
Ground area
1,366 m²
Parcel 63068A0928/00D013, Wallonia. Linked by address, not a title deed.
1 establishment unit
MWA
since 20182.280.497.120
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 63068A0928/00D013 | Wallonia | 1,366 m² | - | - |
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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteJalhay2.280.497.120
Similar companies · same sector, comparable size
PHW Projets
BE 0753.487.189
Waterloo · Eq €138,108
Bouw Projecten Tars
BE 0712.777.675
Aarschot · Eq €138,110
REALISABLE
BE 0472.961.409
Assesse · Eq €138,080
RENOBATI
BE 0733.869.831
Mons · Eq €138,118
D&V CONCEPT
BE 0864.860.611
Mettet · Eq €138,031
Of 29,786 companies in sector 41001 we hold annual accounts for 16,061. 12,792 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
Founded03-10-2018
Fiscal year end31-12
Abbreviation FR
MWA
Activities, NACEBEL 2025
41001General construction of residential buildings
46832Wholesale of timber
47522Retail trade
E-invoicing
Reachable via Peppol
Peppol ID
0208:0707741989
Also
9925:BE0707741989
Registered
30-01-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.