ACTIVE

MAX UNION

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Financial year 2025 · closed on 31/12/2025
Net result
-2,7 k €
-106.8% YoY
Gross margin
355,7 k €
+3.9% YoY
Equity
78,1 k €
-3.4% YoY

What does MAX UNION do?

MAX UNION is a Private limited company incorporated in 2011. Its main activity is: Retail sale in non-specialised stores with food, beverages or tobacco predominating. Its registered office is in Liège.

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0839.883.408
Incorporation
03/10/2011
Legal form
Private limited company
Registered office
Quai du Roi-Albert 115
4020 Liège · WallonieSee on map
Contributed capital
40 000,00 €
Latest accounts
31/12/2025
Activities (NACE)
47110Retail sale in non-specialised stores with food, beverages or tobacco predominating· main47113Retail sale in non-specialised stores with food, beverages or tobacco predominating47221Retail sale of meat and meat products in specialised stores47221Retail sale of meat and meat products in specialised stores47241Retail sale of bread, cakes, flour confectionery and sugar confectionery in specialised stores47241Retail sale of bread, cakes, flour confectionery and sugar confectionery in specialised stores
Signals
Positive cashflowPositive EBITDA
View the BCE/KBO Public Search record →
Health score
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✦ Verdict · Analyst summary
Financials

Trend over 14 financial years

20252024202320222021202020192018201720162015201420132012
Income statement
Gross margin355,7 k €342,4 k €310 k €250 k €208,6 k €234 k €136,7 k €197,2 k €149,8 k €105,9 k €-21,2 k €17,5 k €24 k €10 k €
EBITDA55,6 k €103,3 k €75,2 k €34,5 k €8,6 k €74,2 k €18,1 k €56,4 k €40,2 k €19 k €-32,1 k €13,8 k €20,9 k €4,3 k €
Operating result21,1 k €77,6 k €56,3 k €6,4 k €-25,4 k €42,3 k €-15 k €26,6 k €25 k €2,8 k €-44,8 k €3,7 k €10,2 k €-2,2 k €
Net result-2,7 k €40,3 k €37,2 k €-6,3 k €-36,6 k €35,4 k €-19,8 k €21 k €20,5 k €-3,4 k €-50,3 k €783,7 €6,7 k €-4,6 k €
Balance sheet
Equity78,1 k €80,8 k €40,5 k €3,3 k €9,6 k €46,2 k €10,8 k €30,6 k €9,6 k €-10,8 k €-7,4 k €42,9 k €42,1 k €35,4 k €
Total assets400,3 k €386,1 k €243,6 k €239,1 k €258,6 k €270,8 k €235,6 k €254,9 k €154,7 k €142,2 k €110,3 k €100,5 k €97,5 k €94,5 k €
Cash95 k €113,7 k €62 k €44,7 k €22,6 k €59,2 k €27,2 k €61,6 k €34,5 k €25 k €13,2 k €5,7 k €5,9 k €9,4 k €
Debts321,9 k €304,8 k €203,1 k €235,7 k €249 k €220,3 k €216,9 k €224,3 k €143,8 k €153,1 k €117,6 k €57,5 k €54,8 k €58,8 k €
Other
Workforce–––––––––3,3 ETP–––0,1 ETP
Estimate

Indicative valuation

As an indication, this company is worth

between 250 k€ and 500 k€
See the valuation
Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 3 ended

Active mandates

Aidar Samatov

Manager · since 24 août 2015

Active

Ended mandates

Charles De Vogelaere

Manager · since 01 mai 2015

Ended
Aidar Samatov

Manager · since 03 octobre 2011

Ended
Sofia Halibaeva

Manager · since 03 octobre 2011

Ended
Annual accounts

Full financial information

202520242023202220212020
Type of accountMicro modelMicro modelMicro modelMicro modelMicro modelMicro model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/01/2020
Closing of the financial year31/12/202531/12/202431/12/202331/12/202231/12/202131/12/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date16/06/202605/06/202524/06/202417/08/202317/08/202228/06/2021
General meeting01/06/202602/06/202503/06/202431/07/202327/06/202207/06/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

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Filings

Annual accounts filings

14 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Micro model31/12/202501/06/202616/06/2026FrenchPDF
Micro model31/12/202402/06/202505/06/2025FrenchPDF
Micro model31/12/202303/06/202424/06/2024FrenchPDF
Micro model31/12/202231/07/202317/08/2023FrenchPDF
Micro model31/12/202127/06/202217/08/2022FrenchPDF
Micro model31/12/202007/06/202128/06/2021FrenchPDF
Micro model31/12/201901/06/202007/07/2020FrenchPDF
Micro model31/12/201803/06/201918/06/2019FrenchPDF
Micro model31/12/201704/06/201819/06/2018FrenchPDF
Abridged model31/12/201623/05/201701/06/2017FrenchPDF
Abridged model31/12/201518/05/201630/08/2016FrenchPDF
Abridged model31/12/201419/05/201531/08/2015FrenchPDF
Abridged model31/12/201302/06/201428/08/2014FrenchPDF
Abridged model31/12/201203/06/201328/08/2013FrenchPDF
Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 250 k€ and 500 k€

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 · 3 ended

Active mandates

Aidar Samatov

Manager · since 24 août 2015

Active

Ended mandates

Charles De Vogelaere

Manager · since 01 mai 2015

Ended
Aidar Samatov

Manager · since 03 octobre 2011

Ended
Sofia Halibaeva

Manager · since 03 octobre 2011

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Mandates04/12/2023
    STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …) - MODIFICATION FORME JURIDIQUE - DEMISSIONS, NOMINATIONS
    PDF
  • Mandates28/03/2018
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates16/09/2015
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates22/07/2015
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates07/05/2015
    DEMISSIONS, NOMINATIONS
    PDF
  • Registered office18/05/2012
    SIEGE SOCIAL - CAPITAL, ACTIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …)
    PDF
  • Other14/11/2011
    DIVERS
    PDF
  • Other05/10/2011
    RUBRIQUE CONSTITUTION (NOUVELLE PERSONNE MORALE, OUVERTURE SUCCURSALE, ETC...)
    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

Timeline

  1. 2025
    Annual accounts 2025-2,7 k €↓
  2. 2024
    Annual accounts 202440,3 k €↑
  3. 2023
    Annual accounts 202337,2 k €↑
  4. 2022
    Annual accounts 2022-6,3 k €↑
  5. 2021
    Annual accounts 2021-36,6 k €↓
  6. 2020
    Annual accounts 202035,4 k €↑
  7. 2019
    Annual accounts 2019-19,8 k €↓
  8. 2018
    Annual accounts 201821 k €↑
  9. 2017
    Annual accounts 201720,5 k €↑
  10. 2016
    Annual accounts 2016-3,4 k €↑
  11. 2015
    Annual accounts 2015-50,3 k €↓
  12. 2014
    Annual accounts 2014783,7 €↓
  13. 2013
    Annual accounts 20136,7 k €↑
  14. 2012
    Annual accounts 2012-4,6 k €
  15. 03/10/2011
    IncorporationPrivate limited company