ACTIVE

Virtus Max

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Financial year 2025 · closed on 31/12/2025

Net result

-29,8 k €

+33.8% YoY

Gross margin

-1,6 k €

+88.1% YoY

Equity

-126,4 k €

-30.8% YoY

What does Virtus Max do?

Virtus Max is a Private limited company incorporated in 1988. Its main activity is: Retail sale of newspapers and stationery in specialised stores. Its registered office is in Kuurne.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0434.915.633

Incorporation

17/08/1988

Legal form

Private limited company

Registered office

Boomgaardstraat 103
8520 Kuurne · FlandreSee on map

Contributed capital

18 592,01 €

Latest accounts

31/12/2025

Activities (NACE)

47620Retail sale of newspapers and stationery in specialised stores· main 47621Retail sale of newspapers and stationery in specialised stores 52470Warehousing and support activities for transportation 70200Management consultancy activities 70220Business and other management consultancy activities

Joint committees (4)

Contacts

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	-1,6 k €	+88.1%	-13,7 k €	-136%	38,1 k €	-59.0%	93 k €	+334%	-39,7 k €	-113%	306,2 k €	+5.7%	289,7 k €	+33.0%	217,7 k €	+43.1%	152,1 k €	+151%	60,6 k €	-29.0%	85,4 k €	+3803%	-2,3 k €	+42.9%	-4 k €	+20.7%	-5,1 k €	-125%	20,2 k €	-73.4%	76,2 k €	+5.3%	72,4 k €	+4.4%	69,4 k €
EBITDA	-5,9 k €	+67.8%	-18,4 k €	-154%	34 k €	-62.0%	89,5 k €	+223%	-72,6 k €	-146%	157 k €	+45.5%	107,9 k €	+86.9%	57,7 k €	+99.5%	28,9 k €	+216%	-24,9 k €	-285%	13,5 k €	+580%	-2,8 k €	+39.9%	-4,7 k €	+85.4%	-32 k €	-76.7%	-18,1 k €	-148%	37,8 k €	-8.3%	41,2 k €	+690%	-7 k €
Operating result	-28,6 k €	+28.4%	-39,9 k €	-1934%	2,2 k €	-95.2%	45,3 k €	+139%	-117,7 k €	-325%	52,2 k €	-8.3%	56,9 k €	+175%	20,7 k €	+19.2%	17,4 k €	+150%	-34,8 k €	-401%	11,6 k €	+431%	-3,5 k €	+39.5%	-5,8 k €	+85.1%	-38,7 k €	-42.6%	-27,2 k €	-214%	23,7 k €	+0.3%	23,7 k €	+144%	-53,6 k €
Net result	-29,8 k €	+33.8%	-44,9 k €	-837%	-4,8 k €	-117%	27,9 k €	+122%	-126,1 k €	-478%	33,4 k €	-20.5%	42 k €	+446%	7,7 k €	-28.6%	10,8 k €	+131%	-35 k €	-403%	11,6 k €	+430%	-3,5 k €	-35.5%	-2,6 k €	+93.3%	-38,6 k €	-41.8%	-27,2 k €	-226%	21,7 k €	+4.4%	20,8 k €	+135%	-59,9 k €
Balance sheet
Equity	-126,4 k €	-30.8%	-96,7 k €	-86.8%	-51,7 k €	-10.2%	-46,9 k €	+37.3%	-74,9 k €	-199%	75,7 k €	+78.9%	42,3 k €	+13873%	302,9 €	+104%	-7,4 k €	+59.3%	-18,2 k €	-208%	16,8 k €	+220%	5,3 k €	-40.0%	8,8 k €	-2.1%	8,9 k €	-81.2%	47,6 k €	-36.4%	74,8 k €	+40.8%	53,1 k €	+64.2%	32,4 k €
Total assets	223,9 k €	+2.0%	219,5 k €	-54.6%	483,8 k €	+6.0%	456,3 k €	-0.5%	458,4 k €	-57.9%	1,1 M €	+42.3%	765,3 k €	+55.0%	493,7 k €	+101%	245,2 k €	+275%	65,4 k €	+8.0%	60,5 k €	+37.9%	43,9 k €	+3.8%	42,3 k €	-23.3%	55,1 k €	-61.4%	142,8 k €	-14.2%	166,5 k €	-8.8%	182,6 k €	-8.5%	199,6 k €
Cash	1,6 k €	-72.4%	5,9 k €	+1335%	411,5 €	-97.5%	16,5 k €	+77.3%	9,3 k €	+73.2%	5,4 k €	-38.0%	8,6 k €		–		–		3,3 k €	+1153%	261,3 €	-96.4%	7,3 k €	+912%	718,5 €	-27.6%	992,8 €	-84.6%	6,4 k €	-29.6%	9,1 k €	-52.4%	19,2 k €	+6.1%	18,1 k €
Debts	350,4 k €	+10.8%	316,1 k €	-41.0%	535,5 k €	+6.4%	503,2 k €	-5.6%	533,2 k €	-47.4%	1 M €	+50.6%	673 k €	+36.4%	493,4 k €	+95.3%	252,6 k €	+202%	83,5 k €	+91.0%	43,7 k €	+13.1%	38,7 k €	+15.3%	33,5 k €	-23.4%	43,8 k €	-52.9%	92,9 k €	+3.9%	89,3 k €	-26.5%	121,5 k €	-27.4%	167,3 k €
Other
Workforce	–		–		–		–		1,5 ETP	-54.5%	3,3 ETP	-19.5%	4,1 ETP	+10.8%	3,7 ETP	+32.1%	2,8 ETP	+40.0%	2,0 ETP	+11.1%	1,8 ETP		–		–		0,9 ETP	-10.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	-50.0%	2,0 ETP

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 7 ended

Active mandates

Evelyne Vandekerckhove

Director · since 20 avril 2021

Active

Thomas Dhondt

Director · since 22 décembre 2014

Active

Ended mandates

Thomas Dhondt

Manager · since 01 janvier 2015

Ended

Marc Dhondt

Director · since 01 janvier 2001

Ended

Pieter Dhondt

Director · since 01 janvier 2001

Ended

Marc Dhondt

Manager

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Abridged model	Abridged model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	31/07/2026	15/07/2025	17/07/2024	26/06/2023	27/06/2022	01/07/2021
General meeting	30/06/2026	27/06/2025	28/06/2024	26/06/2023	24/06/2022	25/06/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	30/06/2026	31/07/2026	Dutch	PDF
Micro model	31/12/2024	27/06/2025	15/07/2025	Dutch	PDF
Micro model	31/12/2023	28/06/2024	17/07/2024	Dutch	PDF
Micro model	31/12/2022	26/06/2023	26/06/2023	Dutch	PDF
Abridged model	31/12/2021	24/06/2022	27/06/2022	Dutch	PDF
Abridged model	31/12/2020	25/06/2021	01/07/2021	Dutch	PDF
Abridged model	31/12/2019	26/06/2020	24/07/2020	Dutch	PDF
Abridged model	31/12/2018	28/06/2019	25/07/2019	Dutch	PDF
Abridged model	31/12/2017	30/06/2018	31/08/2018	Dutch	PDF
Abridged model	31/12/2016	16/06/2017	31/07/2017	Dutch	PDF
Abridged model	31/12/2015	30/06/2016	27/07/2016	Dutch	PDF
Abridged model	31/12/2014	26/06/2015	27/07/2015	Dutch	PDF
Abridged model	31/12/2013	27/06/2014	20/08/2014	Dutch	PDF
Abridged model	31/12/2012	28/06/2013	25/07/2013	Dutch	PDF
Abridged model	31/12/2011	30/06/2012	31/07/2012	Dutch	PDF
Abridged model	31/12/2010	30/06/2011	27/07/2011	Dutch	PDF
Abridged model	31/12/2009	30/06/2010	26/07/2010	Dutch	PDF
Abridged model	31/12/2008	30/06/2009	20/08/2009	Dutch	PDF
Abridged model	31/12/2007	30/06/2008	13/08/2008	Dutch	PDF
Abridged model	31/12/2006	30/06/2007	25/07/2007	Dutch	PDF

Estimate

Indicative valuation

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 7 ended

Active mandates

Evelyne Vandekerckhove

Director · since 20 avril 2021

Active

Thomas Dhondt

Director · since 22 décembre 2014

Active

Ended mandates

Thomas Dhondt

Manager · since 01 janvier 2015

Ended

Marc Dhondt

Director · since 01 janvier 2001

Ended

Pieter Dhondt

Director · since 01 janvier 2001

Ended

Marc Dhondt

Manager

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates29/09/2022
WIJZIGING RECHTSVORM - BENAMING - MAATSCHAPPELIJKE ZETEL - DOEL - ONTSLAGEN - BENOEMINGEN
PDF
Mandates27/07/2021
MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN
PDF
Registered office16/05/2018
MAATSCHAPPELIJKE ZETEL
PDF
Mandates10/02/2015
BENAMING - MAATSCHAPPELIJKE ZETEL - KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Registered office25/05/2010
MAATSCHAPPELIJKE ZETEL
PDF
Registered office19/09/2003
MAATSCHAPPELIJKE ZETEL
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 2025-29,8 k €↑
2025
Name changeVirtus Max
2024
Annual accounts 2024-44,9 k €↓
2023
Annual accounts 2023-4,8 k €↓
2022
Annual accounts 202227,9 k €↑
2022
Name changeVirtus
2021
Annual accounts 2021-126,1 k €↓
2018
Annual accounts 201833,4 k €↓
2017
Annual accounts 201742 k €↑
2016
Annual accounts 20167,7 k €↓
2015
Annual accounts 201510,8 k €↑
2014
Annual accounts 2014-35 k €↓
2014
Name changeYe Print
2013
Annual accounts 201311,6 k €↑
2012
Annual accounts 2012-3,5 k €↓
2011
Annual accounts 2011-2,6 k €↑
2010
Annual accounts 2010-38,6 k €↓
2009
Annual accounts 2009-27,2 k €↓
2008
Annual accounts 200821,7 k €↑
2007
Annual accounts 200720,8 k €↑
2006
Annual accounts 2006-59,9 k €
2006
Name changeKOPIE KORTRIJK
17/08/1988
IncorporationPrivate limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

Virtus Max

Overview

What does Virtus Max do?

Trend over 18 financial years

Board of directors

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline