MAXY
ActiveSummary
MAXY has been active since 1978 and the Belgian State Gazette contains no insolvency or warning signals. The 2026 annual accounts show negative equity (-€199,748) and a net result of -€45,472. Equity is shrinking by ~25.6% per year across the filed fiscal years. Its solvency ranks better than 16% of 225 sector peers (fiscal year 2026). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2026
Axes · tick = 2025
Profitability2▼-12
Solvency0=
Growth32=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.47 against 0.4 in 2025; short-term debt: 133.5% and cash: 4.8% of total assets), and equity is negative.
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Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2026Solvency, return and age of the figures
Solvency
-58.9%
Return on assets
-13.4%
Age of the figures
8 mo
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 →
raises risk · Negative equity
The 2026 annual accounts show negative equity and a net loss.
NBB · annual accounts 2026Equity per financial year
1920212223242526
2019 to 2026 · latest year -€199,748
neutral · Latest accounts filed on time
The financial year that closed on 31-01-2026 was due by 31-08-2026 and was filed on 01-07-2026, 61 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2026
61 d early
2025
2 d early
2024
on the day
2023
on the day
2022
26 d early
2021
on the day
2020
4 d early
← 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 13 days before 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 31-01-2027 and is due by 31-08-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-01-2027 close31-08-2027 deadline
History
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Financials · fiscal year 2026, micro schema
Turnover
€425,440
EBIT margin
-0.7%
Net result
-€45,472▼ 97.0%
2025 · -€23,088
Working capital
-€237,914▼ 9.5%
2025 · -€217,215
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, 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
Line20222023202420252026
Turnover
Operating result€327-€15,393-€28,038▼ 82.1%-€23,956▲ 14.6%-€45,975▼ 91.9%
Net result€511within the sector's middle half-€15,615below the sector's middle half-€25,932below the sector's middle half▼ 66.1%-€23,088below the sector's middle half▲ 11.0%-€45,472▼ 97.0%
EBIT margin
Equity-€89,641below the sector's middle half▲ 0.6%-€105,256below the sector's middle half▼ 17.4%-€131,188below the sector's middle half▼ 24.6%-€154,276below the sector's middle half▼ 17.6%-€199,748▼ 29.5%
Total assets€277,452within the sector's middle half▲ 5.5%€318,478within the sector's middle half▲ 14.8%€344,987above the sector's middle half▲ 8.3%€296,373within the sector's middle half▼ 14.1%€339,319▲ 14.5%
Debt€367,092▲ 3.9%€423,734▲ 15.4%€476,176▲ 12.4%€450,650▼ 5.4%€539,068▲ 19.6%
Working capital-€143,858▼ 14.5%-€184,082▼ 28.0%-€212,523▼ 15.4%-€217,215▼ 2.2%-€237,914▼ 9.5%
Solvency-32.3%below the sector's middle half▲ 2.0pp-33.0%below the sector's middle half▼ 0.7pp-38.0%below the sector's middle half▼ 5.0pp-52.1%below the sector's middle half▼ 14.0pp-58.9%▼ 6.8pp
Staff (FTE)
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, 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
The operating result stays negative: a loss of €45,975 in 2026 against €23,956 in 2025; the loss grows and 2026 has the lowest result in the available series.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €339,319
Fixed assets
€124,094 ▼ 16.6%
Current assets
€215,226 ▲ 45.9%
Key figures and ratios
EBITDA
-€21,201▼
2025 · €539
Cash flow
-€20,699▼
2025 · €1,408
Current ratio
0.47▲
2025 · 0.40
Quick ratio
0.21▲
2025 · 0.17
Debt to equity
-2.70▲
2025 · -2.92
ROA
-13.4%▼
2025 · -7.8%
Interest coverage
-31.53▼
2025 · 0.61
Debt ≤ 1 year
€453,140▲
2025 · €364,722
Staff costs
€51,982▼
2025 · €54,524
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,640 companies that looked in July 2024 the way this one looks now, 4.1% went bankrupt within 24 months and 84% are still going.
- Micro
- 20 years or older
- negative equity
- a loss of 10% of the balance sheet or more
4.1%
went bankrupt
9.9%
stopped otherwise
84%
still going
A further 2.0% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.8% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| 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% | 1.6% |
| 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 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 6,640 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 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €25,000 | - | - | €761 | - | - |
| Remuneration, social security and pensions62 | €46,890 | €58,614 | €65,523 | €54,524 | €51,982 | ▼ 4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €18,047 | €20,332 | €24,492 | €24,495 | €24,774 | ▲ 1.1% |
| Other operating charges640/8 | €1,764 | €420 | €2,633 | €982 | €182 | ▼ 81.5% |
| Gross operating margin9900 | €67,027 | €63,973 | €64,611 | €56,045 | €30,962 | ▼ 44.8% |
| Operating profit (loss)9901 | €327 | -€15,393 | -€28,038 | -€23,956 | -€45,975 | ▼ 91.9% |
| Financial income75/76B | €1,146 | €1,574 | €3,018 | €1,819 | €1,175 | ▼ 35.4% |
| Recurring financial income75 | €1,146 | €1,574 | €3,018 | €1,819 | €1,175 | ▼ 35.4% |
| Financial charges65/66B | €962 | €1,796 | €863 | €886 | €672 | ▼ 24.1% |
| Recurring financial charges65 | €962 | €1,796 | €863 | €886 | €672 | ▼ 24.1% |
| Profit (loss) for the period before taxes9903 | €511 | -€15,615 | -€25,883 | -€23,024 | -€45,472 | ▼ 97.5% |
| Income taxes67/77 | - | - | €50 | €64 | - | - |
| Profit (loss) for the period9904 | €511 | -€15,615 | -€25,932 | -€23,088 | -€45,472 | ▼ 97.0% |
| Profit (loss) for the period to be appropriated9905 | €511 | -€15,615 | -€25,932 | -€23,088 | -€45,472 | ▼ 97.0% |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €277,452 | €318,478 | €344,987 | €296,373 | €339,319 | ▲ 14.5% |
| Fixed assets21/28 | €140,145 | €164,754 | €167,263 | €148,867 | €124,094 | ▼ 16.6% |
| Tangible fixed assets22/27 | €139,886 | €164,496 | €167,004 | €148,609 | €123,835 | ▼ 16.7% |
| Furniture and vehicles24 | €1,756 | €734 | - | - | - | - |
| Other tangible fixed assets26 | €138,130 | €163,761 | €167,004 | €148,609 | €123,835 | ▼ 16.7% |
| Financial fixed assets28 | €259 | €259 | €259 | €259 | €259 | = |
| Current assets29/58 | €137,306 | €153,723 | €177,725 | €147,506 | €215,226 | ▲ 45.9% |
| Stocks and contracts in progress3 | €63,950 | €60,650 | €79,320 | €87,070 | €120,620 | ▲ 38.5% |
| Stocks30/36 | €63,950 | €60,650 | €79,320 | €87,070 | €120,620 | ▲ 38.5% |
| Amounts receivable within one year40/41 | €20,171 | €41,372 | €59,310 | €36,360 | €77,386 | ▲ 113% |
| Trade receivables40 | €20,171 | €41,372 | €59,310 | €36,360 | €77,386 | ▲ 113% |
| Cash at bank and in hand54/58 | €52,686 | €50,625 | €39,049 | €23,821 | €16,135 | ▼ 32.3% |
| Deferred charges and accrued income490/1 | €500 | €1,076 | €47 | €255 | €1,084 | ▲ 326% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €277,452 | €318,478 | €344,987 | €296,373 | €339,319 | ▲ 14.5% |
| Equity10/15 | -€89,641 | -€105,256 | -€131,188 | -€154,276 | -€199,748 | ▼ 29.5% |
| Contributions10/11 | €150,000 | €150,000 | €150,000 | €150,000 | €150,000 | = |
| Reserves13 | €242,319 | €242,319 | €242,319 | €242,319 | €242,319 | = |
| Non-distributable reserves130/1 | €3,099 | €3,099 | €3,099 | €3,099 | €3,099 | = |
| Reserves not available under the articles1311 | €3,099 | €3,099 | €3,099 | €3,099 | €3,099 | = |
| Tax-exempt reserves132 | €24,378 | €24,378 | €24,378 | €24,378 | €24,378 | = |
| Distributable reserves133 | €214,843 | €214,843 | €214,843 | €214,843 | €214,843 | = |
| Profit (loss) carried forward14 | -€481,960 | -€497,575 | -€523,507 | -€546,595 | -€592,067 | ▼ 8.3% |
| Amounts payable17/49 | €367,092 | €423,734 | €476,176 | €450,650 | €539,068 | ▲ 19.6% |
| Amounts payable within one year42/48 | €281,164 | €337,806 | €390,248 | €364,722 | €453,140 | ▲ 24.2% |
| Financial debts43 | - | - | - | €280 | - | - |
| Credit institutions430/8 | - | - | - | €280 | - | - |
| Trade debts44 | €52,551 | €9,988 | €16,359 | €2,745 | €495 | ▼ 82.0% |
| Suppliers440/4 | €52,551 | €9,988 | €16,359 | €2,745 | €495 | ▼ 82.0% |
| Taxes, remuneration and social security45 | €12,237 | €133 | €6,242 | €3,318 | €2,941 | ▼ 11.4% |
| Taxes450/3 | €7,249 | €133 | €4,492 | €2,076 | €1,421 | ▼ 31.5% |
| Remuneration and social security454/9 | €4,988 | - | €1,750 | €1,243 | €1,520 | ▲ 22.4% |
| Other amounts payable47/48 | €216,375 | €327,684 | €367,647 | €358,379 | €449,704 | ▲ 25.5% |
| Accrued charges and deferred income492/3 | €85,928 | €85,928 | €85,928 | €85,928 | €85,928 | = |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €511 | -€15,615 | -€25,932 | -€23,088 | -€45,472 | ▼ 97.0% |
| + Depreciation and write-downs630 | €18,047 | €20,332 | €24,492 | €24,495 | €24,774 | ▲ 1.1% |
| Operating cash flow (approximation) | €18,557 | €4,716 | -€1,441 | €1,408 | -€20,699 | ▼ 1,571% |
| Investment in fixed assets (approximation) | - | -€44,941 | -€27,000 | -€6,100 | €0 | ▲ 100% |
| Change in cash | - | -€2,061 | -€11,576 | -€15,227 | -€7,686 | ▲ 49.5% |
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 2027, expected by
2026
01-07
NBB filing
Annual accounts filed
fiscal year 2026 · micro schema
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2024
31-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2022
05-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
31-01
Financial
Back to profitnet €511
Net result €511 after 3 loss-making years.
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
31-01
Financial
Weakest financial yearnet -€52,036
Net result drops to -€52,036, the lowest in the series; recovery starts the following year.
2020
27-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2019
28-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
17-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
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.
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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, Liège · 2 establishment units since 1978
Ground area
187 m²
Building footprint
111 m²
Volume, LiDAR
1,851 m³
2 parcels, Wallonia · tallest building 19.3 m, ±6 floors. Linked by address, not a title deed.
2 establishment units
SCHOOL3
since 19782.014.452.052
FLASH
since 20192.288.358.672
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62803A1310/00F000 | Wallonia | 137 m² | 1 · 72 m² | 19.3 m · 6 fl. |
| 62063A0817/00B000 | Wallonia | 50 m² | 1 · 39 m² | 17.3 m · 5 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.
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 1,035 companies in sector 47721 we hold annual accounts for 583. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded01-02-1978
Fiscal year end31-01
Activities, NACEBEL 2025
47721Retail sale of footwear
46425Wholesale trade
47279Other retail sale of food
47716Retail sale of clothing and accessories for women, men, children and babies (general range)
47722Retail trade
47784Retail sale of souvenirs and religious articles
E-invoicing
Reachable via Peppol
Peppol ID
0208:0417951323
Registered
15-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.