Result
-€26,905 -€26,905
From profit to loss in 2025, after a profit of €244,128 in 2024.
ALPHA MASTERS
Lifetime
19 annual accounts with figures on one time axispeak €109,572 (2014)
€42,354▼ 40.9%
lowest -€26,905 (2025)
-€26,905▼ €271,033
peak €677,148 (2024)
€650,243▼ 4.0%
€396,828▲ 17.3%
Board3 names since 2021
2 directorsKINTS Erwin Julien Willy and 1 other
Documentsfilings and deeds
26-08-202626 days late
2025abbreviated format
Gross margin from €71,674 to €42,354Loss of €26,905Debts from €338,330 to €396,828Investments €258,927Cash from €95,608 to €661
Key points
from the 2025 annual accountsInvestments
€258,927 3.7 × depreciation
Green is investment, beige is depreciation. Land and buildings stand 18.4% higher than in 2024.
Liquidity
0.60 was 1.59 in 2024
Short-term debts rose from €218,537 to €316,656.
2025 accounts filed 26 days after the deadline
Checked score
83
Excellent
Financially stronger than 47% of micro companies in real estate (NACE 68)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.4% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 26,626 companies (NACE 68, micro).
About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.1%
01-2025: 0.1%● unchanged vs 12-2024
02-2025: 0.1%● unchanged vs 01-2025
03-2025: 0.1%● unchanged vs 02-2025
04-2025: 0.1%● unchanged vs 03-2025
05-2025: 0.1%● unchanged vs 04-2025
06-2025: 0.1%● unchanged vs 05-2025
07-2025: 0.2%▲ +0.1 percentage points vs 06-2025
08-2025: 0.4%▲ +0.2 percentage points vs 07-2025
09-2025: 0.5%▲ +0.1 percentage points vs 08-2025highest value
10-2025: < 0.1%▼ -0.5 percentage points vs 09-2025lowest value
11-2025: < 0.1%● unchanged vs 10-2025lowest value
12-2025: < 0.1%● unchanged vs 11-2025lowest value
01-2026: < 0.1%● unchanged vs 12-2025lowest value
02-2026: < 0.1%● unchanged vs 01-2026
03-2026: < 0.1%● unchanged vs 02-2026
04-2026: < 0.1%● unchanged vs 03-2026
05-2026: 0.1%▲ +0.1 percentage points vs 04-2026
06-2026: 0.1%● unchanged vs 05-2026
07-2026: 0.1%● unchanged vs 06-2026
08-2026: 0.2%▲ +0.1 percentage points vs 07-2026
09-2026: 0.4%▲ +0.2 percentage points vs 08-2026
10-2026: 0.4%● unchanged vs 09-2026
11-2026: 0.4%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
raises risk
Liquidity: current ratio 0.60, cash €661, halved
Loss of €26,905 (financial year 2025)
lowers risk
Founded in 2006
Size: total assets €1.0m
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, micro). It does better than 73% of them on solvency, 30% on liquidity, 52% on profitability and 36% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 8,617 companies had the same profile as ALPHA MASTERS has now. Each dot stands for 22 companies, two years later.
94.2%
were still trading
5.2%
stopped another way
0.4%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of ALPHA MASTERS itself: 0.4% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 8,617 companies, not a prediction for ALPHA MASTERS. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €50,000 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.6 (1.59 in 2024), below 1. Short-term debt is 30.2% and cash 0.1% of total assets. 37.9% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises risk
raises risk · 2025 accounts filed 26 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 26-08-2026, 26 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
26 days late
2024
29 days late
2023
27 days early
2022
34 days early
2021
33 days early
2020
32 days early
2019
31 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 15 days before the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 5 July (4 of the last 5 accounts filed within 52 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0880190074
Environmental permit granted
Nieuwbouw van bijgebouwen en niet overdekte lage constructie, Slopen van niet vrijstaande gebouwen of constructies · Zwalm
2 directors appointed, 1 resignation, 2 reappointments
Appointments: KINTS Erwin Julien Willy (statutory director) and VAN GANSBEKE Dominique (statutory director) · Resignation: Duquet Marleen · Reappointments: KINTS Erwin Julien Willy (statutory director) and VAN GANSBEKE Dominique (statutory director) · Gazette deed
First establishment
S.V.D. Veldestraat 4, Zwalm
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| ALPHA MASTERS Zwalm | €1.0m | €42,354 | 62.1% | - |
| PIETERS CONSTRUCT Aalst | €1.1m | €42,435 | 76.8% | - |
| INTERLINEA Sint-Niklaas | €0.9m | €48,557 | 34.6% | - |
| KALAS-RijnKAT Evergem | €1.2m | €40,193 | 14.8% | - |
| LT Invest Ninove | €0.9m | €39,475 | 12.7% | - |
| Immobiliën Carl Martens Antwerp | €1.1m | €40,910 | 5.4% | - |
| REINVA Damme | €1.0m | €35,747 | 50.4% | 0 |
These companies have the same main activity as ALPHA MASTERS: buying and selling of own real estate (NACE 68110). They are comparable in size and age: total assets between €865,000 and €1.2m, founded between 2004 and 2006.
Official details
Source: KBO- Status
- Active since 23-03-2006Normal situation
- Activity
- Buying and selling of own real estateNACE 68110and 3 others
- Establishment unit
- 2.153.106.5259630 Zwalm, since 24-04-2006
- Financial year end
- 31 December
- Peppol
- Reachable since 05-01-2026
Insights on ALPHA MASTERS
ALPHA MASTERS files the abbreviated format. That format states no turnover. The gross margin fell from €52,658 in 2007 to €42,354 in 2025.
The balance sheet grew most from 2013 to 2014 through fixed assets, financed with long-term debt.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about ALPHA MASTERS
- What is the company number of ALPHA MASTERS?
- The company number of ALPHA MASTERS is 0880.190.074. The VAT number is the same number with BE in front: BE 0880.190.074.
- Where is ALPHA MASTERS based?
- The registered office is at S.V.D. Veldestraat 4, 9630 Zwalm.Company details
- What does ALPHA MASTERS do?
- According to the KBO register, the main activity is buying and selling of own real estate (NACE 68110).
- What is the legal form of ALPHA MASTERS?
- ALPHA MASTERS is a private limited company (BV).
- When was ALPHA MASTERS founded?
- ALPHA MASTERS was founded on 23-03-2006.
- Is ALPHA MASTERS still active?
- Yes, ALPHA MASTERS is an active enterprise in the KBO register.
- What is the turnover of ALPHA MASTERS?
- The turnover in financial year 2025 is ≈ €120,000. This figure is estimated from the gross margin of €42,354 and 32 comparable companies (NACE 681). It probably lies between €64,000 and €240,000.Financials
- Is ALPHA MASTERS profitable?
- In financial year 2025, ALPHA MASTERS made a loss of €26,905.
- Where can I find the annual accounts of ALPHA MASTERS?
- ALPHA MASTERS filed 19 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of ALPHA MASTERS due?
- ALPHA MASTERS must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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