Summary
Maxus Fund is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €85.3m and a net result of €4.4m. Its solvency ranks better than 76% of 5587 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
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
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 17-07-2026, 14 days ahead of the deadline.
NBB · 2 filingsDeviation from the deadline
2025
14 d early
2024
35 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 2 accounts on average 25 days before the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#6 company by total assets in Nazareth-De Pinte, Finance and insurance sector#6 company by equity in Nazareth-De Pinte, Finance and insurance sector
Equity
€85.3m▲ 25.1%
2024 · €68.2m
Net result
€4.4m
2024 · -€4.7m
Total assets
€106.8m▲ 56.0%
2024 · €68.4m
Solvency
79.9%▼ 19.8pp
2024 · 99.7%
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, 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
Line20242025
Operating result-€4.1m--€3.2m▲ 20.9%
Net result-€4.7mbelow the sector's middle half-€4.4mabove the sector's middle half
Equity€68.2mabove the sector's middle half-€85.3mabove the sector's middle half▲ 25.1%
Total assets€68.4mabove the sector's middle half-€106.8mabove the sector's middle half▲ 56.0%
Debt€183,736-€21.4m▲ 11,561%
Working capital€587,294above the sector's middle half--€19.8mbelow the sector's middle half
Solvency99.7%above the sector's middle half-79.9%above the sector's middle half▼ 19.8pp
Current ratio4.20above the sector's middle half-0.08below the sector's middle half▼ 4.12
Return on assets (ROA)-6.9%below the sector's middle half-4.1%within the sector's middle half▲ 11.0pp
above
within
below
the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €3.2m in 2025 against €4.1m in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €106.8m
Fixed assets
€105.1m ▲ 55.4%
Current assets
€1.6m ▲ 111%
Equity and liabilities €106.8m
Equity
€85.3m ▲ 25.1%
Debt
€21.4m ▲ 11,561%
Debt's share of the balance-sheet total rises from 0.3% to 20.1%. Equity and debt are higher.
Key figures and ratios
ROE
5.1%▲
2024 · -6.9%
Debt ≤ 1 year
€21.4m▲
2024 · €183,736
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Other operating charges640/8 | €23,671 | €834 | ▼ 96.5% |
| Gross operating margin9900 | -€4.0m | -€3.2m | ▲ 20.4% |
| Operating profit (loss)9901 | -€4.1m | -€3.2m | ▲ 20.9% |
| Financial income75/76B | €1,678 | €8.3m | ▲ 493,221% |
| Recurring financial income75 | €1,678 | €2.4m | ▲ 144,305% |
| Non-recurring financial income76B | - | €5.9m | - |
| Financial charges65/66B | €660,979 | €710,712 | ▲ 7.5% |
| Recurring financial charges65 | €660,979 | €710,712 | ▲ 7.5% |
| Profit (loss) for the period before taxes9903 | -€4.7m | €4.4m | ▲ 192% |
| Profit (loss) for the period9904 | -€4.7m | €4.4m | ▲ 192% |
| Profit (loss) for the period to be appropriated9905 | -€4.7m | €4.4m | ▲ 192% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €68.4m | €106.8m | ▲ 56.0% |
| Fixed assets21/28 | €67.6m | €105.1m | ▲ 55.4% |
| Financial fixed assets28 | €67.6m | €105.1m | ▲ 55.4% |
| Current assets29/58 | €771,031 | €1.6m | ▲ 111% |
| Amounts receivable within one year40/41 | €62,572 | €563,507 | ▲ 801% |
| Other amounts receivable41 | €62,572 | €563,507 | ▲ 801% |
| Cash at bank and in hand54/58 | €708,459 | €1.1m | ▲ 49.9% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €68.4m | €106.8m | ▲ 56.0% |
| Equity10/15 | €68.2m | €85.3m | ▲ 25.1% |
| Contributions10/11 | €73.0m | €85.7m | ▲ 17.5% |
| Profit (loss) carried forward14 | -€4.7m | -€369,687 | ▲ 92.2% |
| Amounts payable17/49 | €183,736 | €21.4m | ▲ 11,561% |
| Amounts payable within one year42/48 | €183,736 | €21.4m | ▲ 11,561% |
| Financial debts43 | - | €20.8m | - |
| Credit institutions430/8 | - | €20.8m | - |
| Trade debts44 | €177,429 | €522,603 | ▲ 195% |
| Suppliers440/4 | €177,429 | €522,603 | ▲ 195% |
| Other amounts payable47/48 | €6,308 | €153,435 | ▲ 2,333% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | -€4.7m | €4.4m | ▲ 192% |
| Operating cash flow (approximation) | -€4.7m | €4.4m | ▲ 192% |
| Investment in fixed assets (approximation) | - | -€37.5m | - |
| Change in cash | - | €353,326 | - |
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
2026
26-08
State Gazette act
Statutes amendmentGeneral meeting1 fact ▸
State Gazette act
Statutes amendment
General meeting1 fact ▸
- General meeting, 30-06-2026
17-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Back to profitnet €4.4m
Net result €4.4m after one loss-making year.
2024
27-12
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 8 acts read
About the unread acts
Of the 8 Belgian State Gazette acts we know for this company, 1 has been read. The other 7 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
8 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Nazareth · 1 establishment unit since 2022
Ground area
4.5 ha
Building footprint
5,261 m²
Volume, LiDAR
20,367 m³
2 parcels, Flanders · tallest building 10.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Sluis 2D, 9810 Nazareth-De Pinte
since 20222.339.198.748
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44018B0710/00A000 | Flanders | 3.2 ha | 1 · 4,009 m² | 10.8 m · 1 fl. |
| 44018C0230/00C003 | Flanders | 1.3 ha | 1 · 1,251 m² | 6.3 m · 2 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.
Articles of association
Annual meeting
Last Friday of June
Power of attorney
Freya Jorens
Charlotte Herpoelaert
Maud Van Hoorn
Veerle Bosschaerts
Ad-Ministerie BV
Adriaan de Leeuw
1 more provision on this in the deed
Structure & network
Owners and holdings
1 owner · 8 holdingsOwners 1
-
29.84%
Holdings 8
- MaxelerosubsidiarySourceown accounts 2025100%
-
100%
-
32.17%
-
19.11%
-
12.3%
-
11.84%
-
11.52%
-
10.11%
According to the 2025 annual accounts of Maxus Fund and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 152 companies in sector 64310 we hold annual accounts for 74. 19 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formLimited partnership
Founded26-10-2022
Fiscal year end31-12
Activities, NACEBEL 2025
64310Financial service activities, except insurance and pension funding
E-invoicing
Reachable via Peppol
Peppol ID
0208:0792915018
Also
9925:BE0792915018
Registered
24-06-2026
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.