ACTIVE

MAXWARE

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Financial year 2025 · closed on 31/12/2025

Net result

42,3 k €

-2.7% YoY

Gross margin

77,3 k €

-9.3% YoY

Equity

1,1 M €

+3.9% YoY

What does MAXWARE do?

MAXWARE is a Private limited company incorporated in 1995. Its main activity is: Management consultancy activities. Its registered office is in Beringen.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0456.021.249

Incorporation

21/09/1995

Legal form

Private limited company

Registered office

Bugtenpad 87
3582 Beringen · FlandreSee on map

Contributed capital

18 592,01 €

Latest accounts

31/12/2025

Activities (NACE)

70200Management consultancy activities· main 70220Business and other management consultancy activities 74142Specialised design activities

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2007		2006
Income statement
Gross margin	77,3 k €	-9.3%	85,2 k €	-33.4%	128,0 k €	-12.7%	146,7 k €	+9.5%	133,9 k €	+14.1%	117,4 k €	+10.0%	106,7 k €	-2.8%	109,9 k €	+15.3%	95,3 k €	+4.9%	90,9 k €	-5.2%	95,9 k €	+6.0%	90,4 k €	-23.2%	117,8 k €	+4.7%	112,5 k €	+20.4%	93,4 k €	-1.8%	95,1 k €	+28.8%	73,9 k €	-17.9%	90,0 k €	-1.9%	91,7 k €
EBITDA	75,4 k €	-9.6%	83,4 k €	-34.0%	126,4 k €	-12.7%	144,8 k €	+9.2%	132,7 k €	+15.2%	115,1 k €	+9.3%	105,3 k €	-2.6%	108,1 k €	+15.5%	93,6 k €	+5.3%	88,9 k €	-4.9%	93,5 k €	+5.9%	88,3 k €	-23.9%	116,0 k €	+4.8%	110,7 k €	+24.9%	88,6 k €	-5.0%	93,2 k €	+33.2%	70,0 k €	-21.2%	88,8 k €	-1.4%	90,0 k €
Operating result	57,3 k €	-12.3%	65,4 k €	-39.6%	108,3 k €	-16.7%	130,0 k €	-1.4%	131,9 k €	+14.7%	115,0 k €	+9.2%	105,3 k €	-2.6%	108,1 k €	+15.5%	93,6 k €	+5.3%	88,8 k €	+6.0%	83,8 k €	+6.6%	78,6 k €	-25.9%	106,1 k €	+5.2%	100,9 k €	+27.9%	78,8 k €	-6.0%	83,9 k €	+38.4%	60,6 k €	-20.6%	76,3 k €	-1.9%	77,8 k €
Net result	42,3 k €	-2.7%	43,5 k €	-40.3%	72,8 k €	-22.0%	93,4 k €	-25.5%	125,4 k €	+47.5%	85,0 k €	+13.4%	74,9 k €	+18.7%	63,1 k €	-6.6%	67,6 k €	+0.6%	67,2 k €	-16.4%	80,4 k €	+20.5%	66,7 k €	-40.0%	111,2 k €	+5.7%	105,2 k €	+73.0%	60,8 k €	-24.2%	80,2 k €	+198%	26,9 k €	-62.3%	71,3 k €	-8.2%	77,6 k €
Balance sheet
Equity	1,1 M €	+3.9%	1,1 M €	+4.2%	1,0 M €	+7.6%	961,5 k €	+10.8%	868,1 k €	+16.9%	742,7 k €	-49.3%	1,5 M €	+5.4%	1,4 M €	+4.8%	1,3 M €	+5.4%	1,3 M €	+5.6%	1,2 M €	+7.2%	1,1 M €	+6.4%	1,0 M €	+2.1%	1,0 M €	+11.4%	919,4 k €	+7.1%	858,6 k €	+10.3%	778,4 k €	+18.0%	659,5 k €	+12.1%	588,2 k €
Total assets	1,1 M €	+3.1%	1,1 M €	+2.9%	1,1 M €	+6.2%	1,0 M €	+5.9%	953,5 k €	+17.5%	811,7 k €	-46.2%	1,5 M €	+5.0%	1,4 M €	+5.4%	1,4 M €	+4.3%	1,3 M €	+5.0%	1,2 M €	+8.5%	1,1 M €	+6.0%	1,1 M €	+2.6%	1,1 M €	+10.6%	953,8 k €	+7.5%	886,9 k €	+8.5%	817,1 k €	+17.9%	692,8 k €	+9.6%	632,2 k €
Cash	1,1 M €	+5.3%	1,0 M €	+4.8%	995,9 k €	+8.4%	918,5 k €	-0.2%	920,4 k €	+55.0%	593,9 k €	-54.0%	1,3 M €	+7.8%	1,2 M €	+6.2%	1,1 M €	+9.6%	1,0 M €	+6.6%	966,4 k €	+21.1%	798,1 k €	-11.8%	904,5 k €	-1.2%	915,0 k €	+11.2%	823,2 k €	+8.4%	759,4 k €	+12.2%	676,5 k €	+15.8%	584,4 k €	+31.7%	443,7 k €
Debts	17,9 k €	-31.2%	26,0 k €	-31.7%	38,1 k €	-20.7%	48,1 k €	-43.7%	85,4 k €	+23.7%	69,0 k €	+64.2%	42,0 k €	-6.4%	44,9 k €	+31.0%	34,3 k €	-25.5%	46,0 k €	-10.6%	51,5 k €	+47.6%	34,9 k €	-4.3%	36,4 k €	+21.4%	30,0 k €	-12.9%	34,5 k €	+21.7%	28,3 k €	-26.9%	38,8 k €	+16.5%	33,3 k €	-24.3%	44,0 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 2 ended

Active mandates

Victor Vrancken

Director

Active

Ended mandates

VICTOR VRANCKEN

Manager

Ended

VICTOR VRANKEN

Manager

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro 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	11/09/2026	31/07/2025	31/07/2025	04/06/2024	22/12/2022	31/10/2021
General meeting	30/05/2026	31/05/2025	25/05/2024	27/05/2023	12/12/2022	08/10/2021
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

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	30/05/2026	11/09/2026	Dutch	PDF
Micro model	31/12/2024	31/05/2025	31/07/2025	Dutch	PDF
Micro model	31/12/2023	25/05/2024	31/07/2025	Dutch	PDF
Micro model	31/12/2022	27/05/2023	04/06/2024	Dutch	PDF
Micro model	31/12/2021	12/12/2022	22/12/2022	Dutch	PDF
Micro model	31/12/2020	08/10/2021	31/10/2021	Dutch	PDF
Micro modelCorrection	31/12/2019	30/10/2020	04/10/2021	Dutch	PDF
Micro model	31/12/2019	30/10/2020	02/08/2021	Dutch	PDF
Micro model	31/12/2018	25/05/2019	19/07/2019	Dutch	PDF
Micro model	31/12/2017	26/05/2018	29/06/2018	Dutch	PDF
Micro model	31/12/2016	30/06/2017	20/07/2017	Dutch	PDF
Abridged model	31/12/2015	30/06/2016	07/07/2016	Dutch	PDF
Abridged model	31/12/2014	30/05/2015	10/06/2015	Dutch	PDF
Abridged model	31/12/2013	31/05/2014	24/06/2014	Dutch	PDF
Abridged model	31/12/2012	25/05/2013	02/07/2013	Dutch	PDF
Abridged model	31/12/2011	23/03/2012	28/03/2012	Dutch	PDF
Abridged model	31/12/2010	21/06/2011	27/06/2011	Dutch	PDF
Abridged model	31/12/2009	29/06/2010	12/07/2010	Dutch	PDF
Abridged model	31/12/2008	20/06/2009	22/06/2009	Dutch	PDF
Abridged model	31/12/2007	31/05/2008	18/07/2008	Dutch	PDF
Abridged model	31/12/2006	26/05/2007	31/08/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 M€

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 · 1 active · 2 ended

Active mandates

Victor Vrancken

Director

Active

Ended mandates

VICTOR VRANCKEN

Manager

Ended

VICTOR VRANKEN

Manager

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates03/09/2020
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
PDF
Registered office03/10/2019
MAATSCHAPPELIJKE ZETEL
PDF
Registered office03/07/2015
MAATSCHAPPELIJKE ZETEL
PDF
Capital / shares21/01/2014
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
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 202542,3 k €↓
2024
Annual accounts 202443,5 k €↓
2023
Annual accounts 202372,8 k €↓
2022
Annual accounts 202293,4 k €↓
2021
Annual accounts 2021125,4 k €↑
2020
Annual accounts 202085,0 k €↑
2019
Annual accounts 201974,9 k €↑
2018
Annual accounts 201863,1 k €↓
2017
Annual accounts 201767,6 k €↑
2016
Annual accounts 201667,2 k €↓
2015
Annual accounts 201580,4 k €↑
2014
Annual accounts 201466,7 k €↓
2013
Annual accounts 2013111,2 k €↑
2012
Annual accounts 2012105,2 k €↑
2011
Annual accounts 201160,8 k €↓
2010
Annual accounts 201080,2 k €↑
2009
Annual accounts 200926,9 k €↓
2007
Annual accounts 200771,3 k €↓
2006
Annual accounts 200677,6 k €
21/09/1995
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

MAXWARE

Overview

What does MAXWARE do?

Trend over 19 financial years

Indicative valuation

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