ACTAMASA
ActiveSummary
ACTAMASA has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €41k and a net result of €-13k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 31% of 27965 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability23▼-11
Solvency54▼-4
Growth78=
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1.5k at 30 days only on tighter terms
Liquidity tight (current ratio 1.12 against 1.07 in 2024; short-term debt: 69.4% and cash: 2.3% of total assets), and 70.6% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
29.4%
Return on assets
-8.9%
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 €-13k
neutral · A punctual record breaks
This company filed 8 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 09-09-2026, 40 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 9 filingsDeviation from the deadline
2025
40 d late
2024
34 d early
2023
37 d early
2022
34 d early
2021
36 d early
2020
37 d early
2019
33 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€41k▼ 23.3%
2024 · €54k
2018: €-12klowest in 8 years
2019: €11k▲ +192% vs 2018
2020: €15k▲ +41.2% vs 2019
2021: €63k▲ +317% vs 2020
2022: €65k▲ +2.9% vs 2021
2023: €68k▲ +4.4% vs 2022highest in 8 years
2024: €54k▼ -20.9% vs 2023
2025: €41k▼ -23.3% vs 2024
2018 → 2025
Total assets
€140k▼ 13.1%
2024 · €162k
2018: €9klowest in 8 years
2019: €29k▲ +220% vs 2018
2020: €69k▲ +142% vs 2019
2021: €146k▲ +110% vs 2020
2022: €139k▼ -4.6% vs 2021
2023: €157k▲ +12.7% vs 2022
2024: €162k▲ +3.0% vs 2023highest in 8 years
2025: €140k▼ -13.1% vs 2024
2018 → 2025
Net result
€-13k▲ 11.8%
2024 · €-14k
2018: €-18klowest in 8 years
2019: €22k▲ +221% vs 2018
2020: €4k▼ -80.2% vs 2019
2021: €50k▲ +1035% vs 2020highest in 8 years
2022: €2k▼ -96.3% vs 2021
2023: €25k▲ +1263% vs 2022
2024: €-14k▼ -156% vs 2023
2025: €-13k▲ +11.8% vs 2024
2018 → 2025
Working capital
€12k▲ 65.4%
2024 · €7k
2018: €-13k
2019: €9k▲ +173% vs 2018
2020: €-13k▼ -244% vs 2019lowest in 8 years
2021: €19k▲ +243% vs 2020highest in 8 years
2022: €17k▼ -11.3% vs 2021
2023: €17k▲ +1.2% vs 2022
2024: €7k▼ -57.6% vs 2023
2025: €12k▲ +65.4% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€63k-€65k▲ 2.9%€68k▲ 4.4%€54k▼ 20.9%€41k▼ 23.3%
2021: €63k
2022: €65k▲ +2.9% vs 2021
2023: €68k▲ +4.4% vs 2022highest in 5 years
2024: €54k▼ -20.9% vs 2023
2025: €41k▼ -23.3% vs 2024lowest in 5 years
Operating result€69k-€9k▼ 86.8%€40k▲ 346%€-8k€-7k▲ 11.9%
2021: €69khighest in 5 years
2022: €9k▼ -86.8% vs 2021
2023: €40k▲ +346% vs 2022
2024: €-8k▼ -119% vs 2023lowest in 5 years
2025: €-7k▲ +11.9% vs 2024
Net result€50k-€2k▼ 96.3%€25k▲ 1,263%€-14k€-13k▲ 11.8%
2021: €50khighest in 5 years
2022: €2k▼ -96.3% vs 2021
2023: €25k▲ +1263% vs 2022
2024: €-14k▼ -156% vs 2023lowest in 5 years
2025: €-13k▲ +11.8% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €7k in 2025 against €8k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €140k
Fixed assets
€31k ▼ 41.9%
Current assets
€109k ▲ 1.0%
Equity and liabilities €140k
Equity
€41k ▼ 23.3%
Debt
€99k ▼ 8.0%
Debt's share of the balance-sheet total rises from 66.7% to 70.6%. Equity and debt are lower.
Key figures and ratios
EBITDA
€9k▼
2024 · €18k
Cash flow
€4k▼
2024 · €11k
Current ratio
1.12▲
2024 · 1.07
Quick ratio
1.05▲
2024 · 0.94
Debt to equity
2.40▲
2024 · 2.01
ROE
-30.4%▼
2024 · -26.5%
ROA
-8.9%▼
2024 · -8.8%
Interest coverage
1.89▼
2024 · 3.11
Debt ≤ 1 year
€97k▼
2024 · €101k
Debt > 1 year
€2k▼
2024 · €4k
Income taxes
€813▲
2024 · €763
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 43 lines
Balance sheet
Code20242025
Assets
Total assets20/58€162k€140k▼
Fixed assets21/28€53k€31k▼
Tangible fixed assets22/27€53k€31k▼
Plant, machinery and equipment23€15k€10k▼
Furniture and vehicles24€30k€21k▼
Leasing and similar rights25€8k-
Current assets29/58€108k€109k▲
Stocks and contracts in progress3€13k€7k▼
Stocks30/36€13k€7k▼
Amounts receivable within one year40/41€94k€99k▲
Trade receivables40€27k€23k▼
Other amounts receivable41€67k€76k▲
Cash at bank and in hand54/58€432€3k▲
Equity and liabilities
Total equity and liabilities10/49€162k€140k▼
Equity10/15€54k€41k▼
Contributions10/11€19k€19k=
Reserves13€35k€23k▼
Non-distributable reserves130/1€100€100=
Reserves not available under the articles1311€100€100=
Distributable reserves133€35k€23k▼
Amounts payable17/49€108k€99k▼
Amounts payable after more than one year17€4k€2k▼
Financial debts170/4€4k€2k▼
Amounts payable within one year42/48€101k€97k▼
Current portion of amounts payable after more than one year42€9k€7k▼
Trade debts44€87k€82k▼
Suppliers440/4€87k€82k▼
Taxes, remuneration and social security45€4k€8k▲
Taxes450/3€4k€8k▲
Accrued charges and deferred income492/3€3k-
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€26k€16k▼
Other operating charges640/8€11k€1k▼
Non-recurring operating charges66A-€19k
Gross operating margin9900€29k€30k▲
Operating profit (loss)9901€-8k€-7k▲
Financial charges65/66B€6k€5k▼
Recurring financial charges65€6k€5k▼
Profit (loss) for the period before taxes9903€-13k€-12k▲
Income taxes67/77€763€813▲
Profit (loss) for the period9904€-14k€-13k▲
Profit (loss) for the period to be appropriated9905€-14k€-13k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-14k€-13k▲
Transfer from equity791/2€14k€13k▼
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13k | €23k | €25k | €26k | €16k | ▼ 37.0% |
| Other operating charges640/8 | €2k | €346 | €3k | €11k | €1k | ▼ 86.5% |
| Non-recurring operating charges66A | €312 | - | €465 | - | €19k | - |
| Gross operating margin9900 | €85k | €32k | €69k | €29k | €30k | ▲ 4.3% |
| Operating profit (loss)9901 | €69k | €9k | €40k | €-8k | €-7k | ▲ 11.9% |
| Financial charges65/66B | €4k | €6k | €7k | €6k | €5k | ▼ 14.2% |
| Recurring financial charges65 | €4k | €6k | €7k | €6k | €5k | ▼ 14.2% |
| Profit (loss) for the period before taxes9903 | €65k | €3k | €33k | €-13k | €-12k | ▲ 12.9% |
| Income taxes67/77 | €15k | €1k | €8k | €763 | €813 | ▲ 6.6% |
| Profit (loss) for the period9904 | €50k | €2k | €25k | €-14k | €-13k | ▲ 11.8% |
| Profit (loss) for the period to be appropriated9905 | €50k | €2k | €25k | €-14k | €-13k | ▲ 11.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €146k | €139k | €157k | €162k | €140k | ▼ 13.1% |
| Fixed assets21/28 | €70k | €70k | €62k | €53k | €31k | ▼ 41.9% |
| Tangible fixed assets22/27 | €70k | €70k | €62k | €53k | €31k | ▼ 41.9% |
| Plant, machinery and equipment23 | €23k | €19k | €21k | €15k | €10k | ▼ 30.5% |
| Furniture and vehicles24 | €22k | €27k | €25k | €30k | €21k | ▼ 32.0% |
| Leasing and similar rights25 | €24k | €24k | €16k | €8k | - | - |
| Current assets29/58 | €75k | €69k | €95k | €108k | €109k | ▲ 1.0% |
| Stocks and contracts in progress3 | - | €10k | €4k | €13k | €7k | ▼ 45.3% |
| Stocks30/36 | - | €10k | €4k | €13k | €7k | ▼ 45.3% |
| Amounts receivable within one year40/41 | €45k | €44k | €84k | €94k | €99k | ▲ 4.6% |
| Trade receivables40 | €5k | €7k | €13k | €27k | €23k | ▼ 15.7% |
| Other amounts receivable41 | €40k | €37k | €71k | €67k | €76k | ▲ 12.9% |
| Cash at bank and in hand54/58 | €30k | €14k | €7k | €432 | €3k | ▲ 648% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €146k | €139k | €157k | €162k | €140k | ▼ 13.1% |
| Equity10/15 | €63k | €65k | €68k | €54k | €41k | ▼ 23.3% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €45k | €46k | €49k | €35k | €23k | ▼ 35.7% |
| Non-distributable reserves130/1 | €100 | €100 | €100 | €100 | €100 | = |
| Reserves not available under the articles1311 | €100 | €100 | €100 | €100 | €100 | = |
| Distributable reserves133 | €45k | €46k | €49k | €35k | €23k | ▼ 35.8% |
| Amounts payable17/49 | €82k | €74k | €89k | €108k | €99k | ▼ 8.0% |
| Amounts payable after more than one year17 | €26k | €22k | €11k | €4k | €2k | ▼ 57.7% |
| Financial debts170/4 | €26k | €22k | €11k | €4k | €2k | ▼ 57.7% |
| Amounts payable within one year42/48 | €56k | €52k | €77k | €101k | €97k | ▼ 3.7% |
| Current portion of amounts payable after more than one year42 | €9k | €11k | €11k | €9k | €7k | ▼ 25.3% |
| Financial debts43 | - | - | €16k | - | - | - |
| Other loans439 | - | - | €16k | - | - | - |
| Trade debts44 | €14k | €24k | €24k | €87k | €82k | ▼ 5.6% |
| Suppliers440/4 | €14k | €24k | €24k | €87k | €82k | ▼ 5.6% |
| Taxes, remuneration and social security45 | €20k | €16k | €7k | €4k | €8k | ▲ 82.6% |
| Taxes450/3 | €20k | €16k | €7k | €4k | €8k | ▲ 82.6% |
| Other amounts payable47/48 | €12k | - | €19k | - | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €3k | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €50k | €2k | €25k | €-14k | €-13k | ▲ 11.8% |
| + Depreciation and write-downs630 | €13k | €23k | €25k | €26k | €16k | ▼ 37.0% |
| Operating cash flow (approximation) | €64k | €24k | €50k | €11k | €4k | ▼ 68.6% |
| Investment in fixed assets (approximation) | - | €-23k | €-17k | €-17k | €6k | ▲ 137% |
| Change in cash | - | €-16k | €-8k | €-6k | €3k | ▲ 144% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
09-09
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 40 days late
2025
27-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
24-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
27-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
25-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Highest result since 2018net €50k ▲1,035%
Operating result €69k, net result €50k, both a record.
31-12
Financial
Liquidity doublescurrent ratio 1.34
Current ratio from 0.61 to 1.34.
24-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
28-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Back to profitnet €22k
Net result €22k after one loss-making year.
31-12
Financial
Liquidity quadruplescurrent ratio 1.52
Current ratio from 0.38 to 1.52; short-term debt falls from €21k to €18k.
27-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
29-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Zele · 1 establishment unit since 2017
Ground area
765 m²
Building footprint
105 m²
Parcel 42028A0716/00E000, Flanders. Linked by address, not a title deed.
1 establishment unit
Actamasa
since 20172.261.320.814
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42028A0716/00E000 | Flanders | 765 m² | 1 · 105 m² | - |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 3,961 companies in sector 43331 we hold annual accounts for 1,788. 1,531 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded09-02-2017
Fiscal year end31-12
Activities, NACEBEL 2025
43331Floor and wall tiling
43110Demolition
43211General electrical installation work
43221Plumbing work
43230Insulation installation
43310Plastering work
43341Painting of buildings
43350Other building finishing work
70200Business and other management consultancy
82100Office administrative and support services
82990Other business support services
Scores and ratios are computed by Checked and are not a credit decision.