BOULANGERIE MAX
ActiveSummary
The computed 12-month bankruptcy probability of BOULANGERIE MAX is 2.0% (moderate). The 2025 annual accounts show equity of €301k and a net result of €114k. Equity is growing by ~67.4% per year across the filed fiscal years. Its solvency ranks better than 76% of 1544 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
81
/ 100
Excellent
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability98=
Solvency87▲+12
Growth78=
Track record94
Bankruptcy probability, 12 months
2.0%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €24k at 30 days acceptable
Liquidity tight (current ratio 1.44 against 1.36 in 2024; short-term debt: 37.5% and cash: 48.9% of total assets), and 37.7% of the assets are financed with debt.
Credit advice for your own amount and term
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 10
Relative position
BE, all sectors
reference
Sector 10
higher
← 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
62.3%
Return on assets
23.6%
Age of the figures
18 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 10-09-2025, 51 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
51 d early
2024
9 d early
2023
27 d early
2022
46 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 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close24-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, micro schema
Equity
€301k▲ 60.9%
2024 · €187k
2022: €66k
2023: €99k
2024: €187k
2022 → 2025
Total assets
€483k▲ 29.7%
2024 · €372k
2022: €278k
2023: €280k
2024: €372k
2022 → 2025
Net result
€114k▲ 29.9%
2024 · €88k
2022: €56k
2023: €34k
2024: €88k
2022 → 2025
Working capital
€80k▲ 27.0%
2024 · €63k
2022: €-68k
2023: €-28k
2024: €63k
2022 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2022202320242025Trend
Equity€66k-€99k▲ 51.3%€187k▲ 88.2%€301k▲ 60.9%
Operating result€69k-€46k▼ 33.3%€134k▲ 191%€156k▲ 16.3%
Net result€56k-€34k▼ 39.6%€88k▲ 160%€114k▲ 29.9%
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 16% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €483k
Fixed assets
€222k ▲ 65.6%
Current assets
€262k ▲ 9.6%
Equity and liabilities €483k
Equity
€301k ▲ 60.9%
Debt
€182k ▼ 1.7%
Debt's share of the balance-sheet total falls from 49.8% to 37.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€203k▲
2024 · €165k
Cash flow
€160k▲
2024 · €119k
Current ratio
1.44▲
2024 · 1.36
Quick ratio
1.35▲
2024 · 1.28
Debt to equity
0.60▼
2024 · 0.99
ROE
37.8%▼
2024 · 46.9%
ROA
23.6%▲
2024 · 23.6%
Interest coverage
18.35▲
2024 · 12.91
Debt ≤ 1 year
€181k▲
2024 · €175k
Debt > 1 year
€768▼
2024 · €10k
Income taxes
€31k▼
2024 · €34k
Staff costs
€57k▲
2024 · €51k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 49 lines
Balance sheet
Code20242025
Assets
Total assets20/58€372k€483k▲
Fixed assets21/28€134k€222k▲
Intangible fixed assets21€25k€21k▼
Tangible fixed assets22/27€109k€200k▲
Land and buildings22€3k€3k▼
Plant, machinery and equipment23€105k€197k▲
Furniture and vehicles24€1k€713▼
Current assets29/58€239k€262k▲
Stocks and contracts in progress3€14k€16k▲
Stocks30/36€14k€16k▲
Amounts receivable within one year40/41€8k€4k▼
Trade receivables40€8k€4k▼
Cash at bank and in hand54/58€215k€236k▲
Deferred charges and accrued income490/1€3k€5k▲
Equity and liabilities
Total equity and liabilities10/49€372k€483k▲
Equity10/15€187k€301k▲
Contributions10/11€10k€10k=
Reserves13€88k€88k=
Distributable reserves133€88k€88k=
Profit (loss) carried forward14€89k€203k▲
Amounts payable17/49€185k€182k▼
Amounts payable after more than one year17€10k€768▼
Financial debts170/4€10k€768▼
Amounts payable within one year42/48€175k€181k▲
Current portion of amounts payable after more than one year42€9k€9k▼
Trade debts44€18k€50k▲
Suppliers440/4€18k€50k▲
Taxes, remuneration and social security45€55k€43k▼
Taxes450/3€43k€37k▼
Remuneration and social security454/9€12k€6k▼
Other amounts payable47/48€93k€79k▼
Income statement
Code20242025
Non-recurring operating income76A€359€295▼
Remuneration, social security and pensions62€51k€57k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€31k€47k▲
Other operating charges640/8€3k€1k▼
Gross operating margin9900€219k€261k▲
Operating profit (loss)9901€134k€156k▲
Financial income75/76B€12€1▼
Recurring financial income75€12€1▼
Financial charges65/66B€13k€11k▼
Recurring financial charges65€13k€11k▼
Profit (loss) for the period before taxes9903€122k€145k▲
Income taxes67/77€34k€31k▼
Profit (loss) for the period9904€88k€114k▲
Profit (loss) for the period to be appropriated9905€88k€114k▲
Appropriation of the result
Profit (loss) to be appropriated9906€177k€203k▲
Profit (loss) brought forward from the previous period14P€89k€89k=
Transfer to equity691/2€88k-
To other reserves6921€88k-
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2025
10-09
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
31-03
Financial
Highest result since 2022net €114k ▲29.9%
Operating result €156k, net result €114k, both a record.
31-03
Financial
Equity above €200kEq €301k ▲60.9%
4 profitable years in a row build equity to €301k.
2024
22-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
31-03
Financial
Equity above €150kEq €187k ▲88.2%
3 profitable years in a row build equity to €187k.
2023
04-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
31-03
Financial
Weakest financial yearnet €34k ▼39.6%
Net result drops to €34k, the lowest in the series; recovery starts the following year.
2022
15-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 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, Mons · 1 establishment unit since 2021
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Chaussée du Roi Baudouin 3607031 MonsGround area
3,377 m²
Building footprint
395 m²
Volume, LiDAR
3,087 m³
Parcel 55048B0350/00B003, Wallonia · tallest building 10.0 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
BOULANGERIE MAX
since 20212.320.649.477
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 55048B0350/00B003 | Wallonia | 3,377 m² | 1 · 395 m² | 10.0 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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 siteMons2.320.649.477
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Of 4,226 companies in sector 10712 we hold annual accounts for 1,870. 1,391 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded13-04-2021
Fiscal year end31-03
Activities, NACEBEL 2025
10712Artisanal bread and fresh pastry making
47241Retail sale of bread and pastry (bakery outlets)
47242Retail sale of chocolate and confectionery
Sources
Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.