ACTIVE

MAX AND PARTNERS

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Financial year 2025 · closed on 31/12/2025

Net result

170,9 k €

+294.7% YoY

Gross margin

580,6 k €

+46.4% YoY

Equity

1,1 M €

+18.1% YoY

Workforce

2,0 ETP

0.0% YoY

What does MAX AND PARTNERS do?

MAX AND PARTNERS is a Public limited company incorporated in 1997. Its main activity is: Management consultancy activities. Its registered office is in Lasne. It employs on average 2,0 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0462.292.892

Incorporation

30/12/1997

Legal form

Public limited company

Registered office

Clos du Général Domon 7
1380 Lasne · WallonieSee on map

Contributed capital

62 000,00 €

Latest accounts

31/12/2025

Average workforce

2,0 ETP

Activities (NACE)

70200Management consultancy activities· main 70220Business and other management consultancy activities 74142Specialised design activities 46190Agents involved in the sale of a variety of goods 46190Agents involved in the sale of a variety of goods 51190Passenger air transport

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	580,6 k €	+46.4%	396,7 k €	+27.2%	311,9 k €	+3.5%	301,4 k €	-37.6%	482,7 k €	+3.9%	464,8 k €	+26.0%	368,9 k €	-23.3%	481,2 k €	+32.7%	362,5 k €	+0.1%	362,2 k €	+34.9%	268,5 k €	-1.5%	272,5 k €	+17.3%	232,3 k €	-19.6%	289,1 k €	-65.6%	840,1 k €	+279%	221,8 k €	+7.6%	206,2 k €	+4.3%	197,6 k €	+3.7%	190,7 k €	+25.0%	152,6 k €
EBITDA	450,4 k €	+74.6%	257,9 k €	-6.6%	276 k €	+9.2%	252,7 k €	-41.9%	435,3 k €	+26.0%	345,4 k €	+19.1%	289,9 k €	-27.8%	401,3 k €	+34.0%	299,6 k €	-7.7%	324,7 k €	+24.4%	261 k €	-0.1%	261,2 k €	+23.6%	211,3 k €	-15.3%	249,5 k €	-44.3%	447,9 k €	+172%	164,5 k €	+39.0%	118,4 k €	-1.4%	120,1 k €	+12.2%	107 k €	+5.0%	101,9 k €
Operating result	286 k €	+206%	93,3 k €	-18.5%	114,5 k €	+415%	22,2 k €	-91.6%	264,9 k €	+32.3%	200,3 k €	+75.1%	114,4 k €	-49.4%	225,8 k €	+629%	31 k €	-85.0%	207 k €	+42.3%	145,4 k €	-10.9%	163,1 k €	+43.9%	113,3 k €	-11.7%	128,4 k €	-26.9%	175,6 k €	+480%	30,2 k €	-61.0%	77,5 k €	+0.4%	77,2 k €	+5.7%	73,1 k €	-1.3%	74 k €
Net result	170,9 k €	+295%	43,3 k €	-32.5%	64,2 k €	+217%	-54,9 k €	-131%	177,7 k €	+56.8%	113,3 k €	+230%	34,4 k €	-67.0%	104,2 k €	+433%	-31,3 k €	-132%	98,5 k €	+47.0%	67 k €	+10.8%	60,5 k €	+40.7%	43 k €	-82.5%	246,3 k €	+309%	60,2 k €	+451%	10,9 k €	-78.5%	50,8 k €	-2.4%	52 k €	+31.5%	39,6 k €	-11.6%	44,7 k €
Balance sheet
Equity	1,1 M €	+18.1%	946,5 k €	+4.7%	903,7 k €	+5.1%	859,9 k €	-6.0%	915,2 k €	+24.0%	738 k €	+14.2%	646,4 k €	-17.5%	783,5 k €	+16.3%	673,7 k €	-3.7%	699,6 k €	+16.3%	601,5 k €	+12.4%	534,9 k €	+71.5%	311,9 k €	-39.0%	511,3 k €	+92.6%	265,5 k €	-34.6%	405,7 k €	+2.7%	395,2 k €	+14.6%	344,8 k €	+17.6%	293,2 k €	+12.1%	261,7 k €
Total assets	2,7 M €	-2.8%	2,7 M €	-0.7%	2,8 M €	-9.0%	3 M €	-10.8%	3,4 M €	+19.0%	2,9 M €	-0.9%	2,9 M €	-7.4%	3,1 M €	-3.2%	3,2 M €	+39.6%	2,3 M €	-0.5%	2,3 M €	-1.1%	2,3 M €	-2.7%	2,4 M €	-4.3%	2,5 M €	+3.6%	2,4 M €	+88.3%	1,3 M €	+107%	623,9 k €	+4.9%	594,9 k €	-0.2%	596 k €	+15.3%	516,9 k €
Cash	60,1 k €	+61.7%	37,2 k €	-32.1%	54,8 k €	-70.2%	183,6 k €	-50.4%	370,3 k €	+44.8%	255,7 k €	+38.9%	184,1 k €	-47.6%	351,2 k €	+15.0%	305,4 k €	-0.8%	307,7 k €	+41.3%	217,8 k €	-57.8%	516,2 k €	-10.3%	575,4 k €	+1.2%	568,5 k €	+283%	148,3 k €	+69.4%	87,5 k €	-58.4%	210,5 k €	+27.5%	165,1 k €	-25.1%	220,4 k €	+113%	103,5 k €
Debts	1,5 M €	-14.3%	1,7 M €	-3.6%	1,8 M €	-14.9%	2,1 M €	-13.0%	2,4 M €	+18.4%	2 M €	-5.1%	2,1 M €	-3.8%	2,2 M €	-8.5%	2,4 M €	+62.7%	1,5 M €	-6.4%	1,6 M €	-5.2%	1,7 M €	-14.3%	2 M €	+3.9%	1,9 M €	-11.6%	2,1 M €	+142%	882,5 k €	+292%	225,3 k €	-8.6%	246,5 k €	-17.6%	299 k €	+19.0%	251,1 k €
Other
Workforce	2,0 ETP	0.0%	2,0 ETP		–		0,5 ETP	-50.0%	1,0 ETP	-54.5%	2,2 ETP	-21.4%	2,8 ETP	+40.0%	2,0 ETP		–		0,8 ETP		–		–		–		–		–		2,0 ETP	0.0%	2,0 ETP	0.0%	2,0 ETP	0.0%	2,0 ETP	0.0%	2,0 ETP

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 · 2 active · 9 ended

Active mandates

Éric Lecluse

Administrator - manager · since 04 mai 2021 · until 04 mai 2027

Active

Fabienne Servaes

Managing director · since 04 mai 2021 · until 04 mai 2027

Active

Ended mandates

ERIC LECLUSE

Director · since 26 mai 2021 · until 04 mai 2027

Ended

FABIENNE SERVAES

Director · since 26 mai 2021 · until 04 mai 2027

Ended

ERIC LECLUSE

Director · since 25 mai 2015 · until 25 mai 2021

Ended

FABIENNE SERVAES

Director · since 25 mai 2015 · until 25 mai 2021

Ended

At this address

Other companies at this address

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LEM CORP● Active	0766.675.825
TEXATH● Active	0772.764.950
TEXHAL● Active	0767.612.864
TEXONE● Active	1006.425.082
TEXREN● Active	1021.392.776
TEXSOI● Active	0772.755.448

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged 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	10/09/2026	20/08/2025	29/08/2024	28/08/2023	31/08/2022	30/08/2021
General meeting	05/05/2026	06/05/2025	07/05/2024	02/05/2023	03/05/2022	04/05/2021
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

22 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	05/05/2026	10/09/2026	French	PDF
Abridged model	31/12/2024	06/05/2025	20/08/2025	French	PDF
Abridged model	31/12/2023	07/05/2024	29/08/2024	French	PDF
Abridged model	31/12/2022	02/05/2023	28/08/2023	French	PDF
Abridged model	31/12/2021	03/05/2022	31/08/2022	French	PDF
Abridged model	31/12/2020	04/05/2021	30/08/2021	French	PDF
Abridged modelCorrection	31/12/2019	05/05/2020	06/11/2020	French	PDF
Abridged model	31/12/2019	05/05/2020	30/10/2020	French	PDF
Abridged model	31/12/2018	07/05/2019	23/08/2019	French	PDF
Abridged model	31/12/2017	02/05/2018	22/08/2018	French	PDF
Abridged model	31/12/2016	02/05/2017	31/08/2017	French	PDF
Abridged model	31/12/2015	10/05/2016	22/08/2016	French	PDF
Abridged model	31/12/2014	05/05/2015	06/07/2015	French	PDF
Abridged model	31/12/2013	06/05/2014	28/08/2014	French	PDF
Abridged model	31/12/2012	07/05/2013	30/08/2013	French	PDF
Abridged model	31/12/2011	01/05/2012	31/08/2012	French	PDF
Abridged modelCorrection	31/12/2010	29/06/2011	22/09/2011	French	PDF
Abridged model	31/12/2010	29/06/2011	31/08/2011	French	PDF
Abridged model	31/12/2009	30/06/2010	31/08/2010	French	PDF
Abridged model	31/12/2008	26/05/2009	17/08/2009	French	PDF
Abridged model	31/12/2007	06/05/2008	07/07/2008	French	PDF
Abridged model	31/12/2006	02/05/2007	17/07/2007	French	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 · 2 active · 9 ended

Active mandates

Éric Lecluse

Administrator - manager · since 04 mai 2021 · until 04 mai 2027

Active

Fabienne Servaes

Managing director · since 04 mai 2021 · until 04 mai 2027

Active

Ended mandates

ERIC LECLUSE

Director · since 26 mai 2021 · until 04 mai 2027

Ended

FABIENNE SERVAES

Director · since 26 mai 2021 · until 04 mai 2027

Ended

ERIC LECLUSE

Director · since 25 mai 2015 · until 25 mai 2021

Ended

FABIENNE SERVAES

Director · since 25 mai 2015 · until 25 mai 2021

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Other19/07/2024
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates22/11/2021
DEMISSIONS, NOMINATIONS
PDF
Capital / shares27/02/2019
CAPITAL, ACTIONS
PDF
Other28/11/2017
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates24/03/2017
DEMISSIONS, NOMINATIONS
PDF
Mandates04/02/2016
DEMISSIONS, NOMINATIONS
PDF
Mandates02/06/2015
DEMISSIONS, NOMINATIONS
PDF
Capital / shares08/04/2014
CAPITAL, ACTIONS
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 2025170,9 k €↑
2024
Annual accounts 202443,3 k €↓
2023
Annual accounts 202364,2 k €↑
2022
Annual accounts 2022-54,9 k €↓
2022
Name changeMAX & PARTNERS SA
2021
Annual accounts 2021177,7 k €↑
2021
Name changeMAX AND PARTNERS
2020
Annual accounts 2020113,3 k €↑
2019
Annual accounts 201934,4 k €↓
2018
Annual accounts 2018104,2 k €↑
2017
Annual accounts 2017-31,3 k €↓
2016
Annual accounts 201698,5 k €↑
2015
Annual accounts 201567 k €↑
2014
Annual accounts 201460,5 k €↑
2013
Annual accounts 201343 k €↓
2012
Annual accounts 2012246,3 k €↑
2011
Annual accounts 201160,2 k €↑
2010
Annual accounts 201010,9 k €↓
2009
Annual accounts 200950,8 k €↓
2008
Annual accounts 200852 k €↑
2007
Annual accounts 200739,6 k €↓
2006
Annual accounts 200644,7 k €
30/12/1997
IncorporationPublic 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

MAX AND PARTNERS

Overview

What does MAX AND PARTNERS do?

Trend over 20 financial years

Indicative valuation

Board of directors

Other companies at this address

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