MAX BUSET INVEST
ActiveMAX BUSET INVEST has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.10M and a net result of €-148k. Equity is growing by ~22.4% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2025
72
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability68▼-3
Solvency100=
Growth35▼-11
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1.5k at 30 days acceptable
Liquidity ample (current ratio 54.54 against 19.76 in 2024; short-term debt: 0.3% and cash: 1.6% of total assets), and 0.3% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
99.7%
Return on assets
-13.4%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-148k
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 07-07-2026, 24 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
24 d early
2024
28 d early
2023
27 d early
2022
34 d early
2021
13 d early
2020
38 d early
2019
16 d early
← before the deadline
after the deadline →
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
17-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€18k▼ 49.4%
2024 · €36k
2021: €36k
2022: €36k
2023: €36k
2024: €36k
2021 → 2025
EBIT margin
-808.7%▼ 432.7pp
2024 · -376.1%
2021: -80.4%
2022: -9.5%
2023: -394.6%
2024: -376.1%
2021 → 2025
Net result
€-148k▼ 8.5%
2024 · €-136k
2018: €-1k
2019: €-2k
2020: €-1k
2021: €-29k
2022: €-4k
2023: €-143k
2024: €-136k
2018 → 2025
Working capital
€178k▼ 38.9%
2024 · €291k
2018: €4k
2019: €3k
2020: €2k
2021: €185k
2022: €217k
2023: €275k
2024: €291k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€36k-€36k=€36k=€36k=€18k▼ 49.4%
Equity€1.53M-€1.53M▼ 0.3%€1.38M▼ 9.6%€1.25M▼ 9.9%€1.10M▼ 11.9%
Operating result€-29k-€-3k▲ 88.2%€-142k▼ 4,063%€-135k▲ 4.7%€-147k▼ 8.7%
Net result€-29k-€-4k▲ 86.6%€-143k▼ 3,630%€-136k▲ 4.8%€-148k▼ 8.5%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €147k in 2025 against €135k in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.10M
Fixed assets
€920k▼ 14.2%
Current assets
€181k▼ 40.9%
Equity and liabilities €1.10M
Equity
€1.10M▼ 11.9%
Debt
€3k▼ 97.4%
The debt ratio falls from 9.7% to 0.3%. Equity and debt are lower.
Key figures and ratios
EBITDA
€5k▼
2024 · €17k
Cash flow
€4k▼
2024 · €16k
Solvency
99.7%▲
2024 · 90.3%
Current ratio
54.54▲
2024 · 19.76
Quick ratio
54.54▲
2024 · 19.76
Debt / equity
0.00▼
2024 · 0.11
ROE
-13.5%▼
2024 · -10.9%
ROA
-13.4%▼
2024 · -9.9%
Interest coverage
8.13▼
2024 · 19.50
Debt
€3k▼
2024 · €133k
Debt ≤ 1 year
€3k▼
2024 · €16k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€1.38M€1.10M▼
Fixed assets21/28€1.07M€920k▼
Intangible fixed assets21-€0
Tangible fixed assets22/27€1.07M€920k▼
Land and buildings22€1.07M€920k▼
Current assets29/58€307k€181k▼
Amounts receivable within one year40/41€284k€163k▼
Trade receivables40€644€162k▲
Other amounts receivable41€284k€1k▼
Cash at bank and in hand54/58€22k€18k▼
Deferred charges and accrued income490/1€69€69=
Equity and liabilities
Total equity and liabilities10/49€1.38M€1.10M▼
Equity10/15€1.25M€1.10M▼
Contributions10/11€1.57M€1.57M=
Capital10€1.57M€1.57M=
Issued capital100€1.57M€1.57M=
Profit (loss) carried forward14€-320k€-468k▼
Amounts payable17/49€133k€3k▼
Amounts payable after more than one year17€118k-
Financial debts170/4€118k-
Amounts payable within one year42/48€16k€3k▼
Trade debts44€1k€1k=
Suppliers440/4€1k€1k=
Other amounts payable47/48€15k€2k▼
Accrued charges and deferred income492/3€177€131▼
Income statement
Code20242025
Turnover70€36k€18k▼
Goods, raw materials, services and sundry goods60/61€12k€4k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€152k€152k=
Other operating charges640/8€9k€10k▲
Gross operating margin9900€26k€14k▼
Operating profit (loss)9901€-135k€-147k▼
Financial income75/76B€3€5▲
Recurring financial income75€3€5▲
Non-recurring financial income76B-€0
Financial charges65/66B€852€591▼
Recurring financial charges65€852€591▼
Profit (loss) for the period before taxes9903€-136k€-148k▼
Profit (loss) for the period9904€-136k€-148k▼
Profit (loss) for the period to be appropriated9905€-136k€-148k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-320k€-468k▼
Profit (loss) brought forward from the previous period14P€-184k€-320k▼
The notes to these accounts (5 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
2026
12-08
State Gazette act
Resignations & appointmentsGeneral meeting · Director resignation · Director appointment4 facts ▸
State Gazette act
Resignations & appointments
General meeting · Director resignation · Director appointment4 facts ▸
- General meeting, 29/06/2026
- Director resignation, Yves SMEETS (administrateur personne physique)
- Director resignation, Yves SMEETS (Président)
- Director appointment, Philippe DUBOIS (administrateur personne physique)
07-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Weakest financial yearnet €-148k
Net result drops to €-148k, the lowest in the series.
31-12
Financial
Liquidity triplescurrent ratio 54.54
Current ratio from 19.76 to 54.54; short-term debt falls from €16k to €3k.
03-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
27-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Liquidity doublescurrent ratio 33.67
Current ratio from 15.73 to 33.67; short-term debt falls from €13k to €7k.
18-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Liquidity times 7current ratio 15.73
Current ratio from 2.11 to 15.73.
31-12
Financial
Equity above €1MEq €1.53M ▲418%
Equity rises from €296k to €1.53M.
23-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
15-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
02-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 directors, no change since 2026
DUBOIS Philippe
CurrentAdministrateur personne physique · since 29-06-2026
29-06-2026
DUBOIS Philippe: Appointed as Administrateur personne physique
29-06-2026
Yves Smeets: Resigned as Chair
29-06-2026
Yves Smeets: Resigned as Administrateur personne physique
Location & real-estate footprint
Registered office, La Louvière · 1 establishment unit since 2018
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.
Avenue Max Buset(L.L) 347100 La LouvièreGround area
7.5 ha
Building footprint
2,206 m²
Volume, LiDAR
24,975 m³
Parcel 55022A0301/00G003, Wallonia · tallest building 19.5 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
Avenue Max Buset(L.L) 34, 7100 La Louvière
since 20182.369.827.685
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 55022A0301/00G003 | Wallonia | 7.5 ha | 1 · 2,206 m² | 19.5 m · 4 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.
Structure & network
Connections & network
26 connected companiesLinked via shared directors
viaDUBOIS Philippe · Director
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viaDUBOIS Philippe · Administrateur membre coopté
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viaDUBOIS Philippe · Director
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viaDUBOIS Philippe · Administrateur membre coopté
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Show 22 more companies with a shared director
viaDUBOIS Philippe · Vice président du conseil d'administration
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viaDUBOIS Philippe · Director
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viaDUBOIS Philippe · Administrateur délégué à la gestion journalière
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viaDUBOIS Philippe · Director
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viaDUBOIS Philippe · Director
former→
viaDUBOIS Philippe · Director
former→
viaDUBOIS Philippe · Director
former→
viaDUBOIS Philippe · Director
former→
viaDUBOIS Philippe · Director
former→
viaDUBOIS Philippe · Administrateur représentant l'umons
former→
viaDUBOIS Philippe · Director
former→
viaDUBOIS Philippe · Director
former→
viaDUBOIS Philippe · Director
former→
viaDUBOIS Philippe · Director
former→
viaDUBOIS Philippe · Director
former→
viaDUBOIS Philippe · Director
former→
viaDUBOIS Philippe · Director
former→
viaDUBOIS Philippe · Manager
former→
viaDUBOIS Philippe · Director
former→
viaDUBOIS Philippe · Director
former→
viaDUBOIS Philippe · Director
former→
viaDUBOIS Philippe · Membre effectif du conseil d'administration
former→
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded24-03-2017
Fiscal year end31-12
Sources
Crossroads Bank for EnterprisesNational Bank · 8 filingsAddress and cadastre registers
Data from official sources, last processed on 17-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
1 entryE-mail:pscillia@chu-tivoli.be