BOUWONDERNEMING MASSIEF
ActiveThe annual accounts of BOUWONDERNEMING MASSIEF for fiscal year 2025 show a net loss of 59% of the equity at the start of that year. The 2025 annual accounts show equity of €222k and a net result of €-324k. Equity is growing by ~8% per year across the filed fiscal years. Its solvency ranks better than 16% of 2172 sector peers (fiscal year 2025). The company has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
35
/ 100
Weak
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability8▼-43
Solvency31▼-10
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €7k at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity short (current ratio 0.86 against 0.99 in 2024; short-term debt: 74.4% and cash: 5.7% of total assets), and 94.1% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+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 41
Relative position
BE, all sectors
reference
Sector 41
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 16% of 2172 sector peers (2025).
NBB · sector comparisonPosition among 2172 sector peers
Solvency
better than 16%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 17-07-2026, 14 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
14 d early
2024
35 d early
2023
40 d early
2022
31 d early
2021
30 d early
2020
58 d early
2019
35 d early
← before the deadline
after the deadline →
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
20-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
€3.31M
EBIT margin
1.5%
Net result
€-324k
2024 · €26k
2018: €78k
2019: €20k
2020: €18k
2021: €22k
2022: €74k
2023: €76k
2024: €26k
2018 → 2025
Working capital
€-384k▼ 2,377%
2024 · €-16k
2018: €-42k
2019: €-9k
2020: €23k
2021: €-9k
2022: €-118k
2023: €-30k
2024: €-16k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€370k-€443k▲ 20.0%€520k▲ 17.2%€546k▲ 5.1%€222k▼ 59.4%
Operating result€57k-€138k▲ 143%€158k▲ 14.3%€128k▼ 19.0%€-231k
Net result€22k-€74k▲ 230%€76k▲ 3.3%€26k▼ 65.6%€-324k
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €231k after €128k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.74M
Fixed assets
€1.34M▲ 3.3%
Current assets
€2.40M▲ 18.0%
Equity and liabilities €3.74M
Equity
€222k▼ 59.4%
Debt
€3.52M▲ 26.3%
The debt ratio rises from 83.6% to 94.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-14k▼
2024 · €308k
Cash flow
€-108k▼
2024 · €207k
Solvency
5.9%▼
2024 · 16.4%
Current ratio
0.86▼
2024 · 0.99
Quick ratio
0.56▼
2024 · 0.61
Debt / equity
15.88▲
2024 · 5.10
ROE
-146.4%▼
2024 · 4.8%
ROA
-8.7%▼
2024 · 0.8%
Interest coverage
-0.13▼
2024 · 3.71
Debt
€3.52M▲
2024 · €2.78M
Debt ≤ 1 year
€2.78M▲
2024 · €2.05M
Debt > 1 year
€733k▼
2024 · €734k
Income taxes
€686▼
2024 · €26k
Staff costs
€1.24M▲
2024 · €1.15M
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€3.33M€3.74M▲
Fixed assets21/28€1.30M€1.34M▲
Intangible fixed assets21€485€17▼
Tangible fixed assets22/27€1.30M€1.34M▲
Land and buildings22€897k€863k▼
Plant, machinery and equipment23€168k€109k▼
Furniture and vehicles24€84k€59k▼
Leasing and similar rights25€148k€309k▲
Financial fixed assets28€2k€3k▲
Current assets29/58€2.03M€2.40M▲
Stocks and contracts in progress3€790k€845k▲
Stocks30/36€15k€25k▲
Contracts in progress37€775k€820k▲
Amounts receivable within one year40/41€1.13M€1.32M▲
Trade receivables40€732k€791k▲
Other amounts receivable41€398k€526k▲
Cash at bank and in hand54/58€104k€213k▲
Deferred charges and accrued income490/1€8k€23k▲
Equity and liabilities
Total equity and liabilities10/49€3.33M€3.74M▲
Equity10/15€546k€222k▼
Contributions10/11€136k€136k=
Reserves13€410k€410k=
Distributable reserves133€410k€410k=
Profit (loss) carried forward14-€-324k
Amounts payable17/49€2.78M€3.52M▲
Amounts payable after more than one year17€734k€733k▼
Financial debts170/4€734k€733k▼
Amounts payable within one year42/48€2.05M€2.78M▲
Current portion of amounts payable after more than one year42€129k€174k▲
Financial debts43€815k€1.02M▲
Credit institutions430/8€815k€1.02M▲
Trade debts44€789k€1.26M▲
Suppliers440/4€789k€1.26M▲
Advances received on contracts in progress46€180k€180k=
Taxes, remuneration and social security45€113k€107k▼
Taxes450/3€7k€5k▼
Remuneration and social security454/9€106k€102k▼
Other amounts payable47/48€21k€34k▲
Accrued charges and deferred income492/3€4k€4k▼
Income statement
Code20242025
Non-recurring operating income76A€21k€852▼
Remuneration, social security and pensions62€1.15M€1.24M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€181k€217k▲
Other operating charges640/8€44k€83k▲
Gross operating margin9900€1.51M€1.31M▼
Operating profit (loss)9901€128k€-231k▼
Financial income75/76B€7k€18k▲
Recurring financial income75€7k€14k▲
Non-recurring financial income76B-€4k
Financial charges65/66B€83k€110k▲
Recurring financial charges65€83k€110k▲
Profit (loss) for the period before taxes9903€52k€-324k▼
Income taxes67/77€26k€686▼
Profit (loss) for the period9904€26k€-324k▼
Profit (loss) for the period to be appropriated9905€26k€-324k▼
Appropriation of the result
Profit (loss) to be appropriated9906€26k€-324k▼
Transfer to equity691/2€26k-
To other reserves6921€26k-
Social balance
Average headcount (FTE)908719.421.5▲
The notes to these accounts (24 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
17-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet €-324k ▼1336%
Net result drops to €-324k, the lowest in the series.
26-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
21-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Equity above €500kEq €520k ▲17.2%
6 profitable years in a row build equity to €520k.
30-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
01-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
03-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
26-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
10-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
19-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
16-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 16 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
6 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, Hasselt · 1 establishment unit since 2006
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Simpernelstraat 113511 HasseltGround area
3,528 m²
Building footprint
1,341 m²
Volume, LiDAR
1,117 m³
Parcel 71032B0468/00T000, Flanders · tallest building 12.2 m. Linked by address, not a title deed.
1 establishment unit
BOUWONDERNEMING MASSIEF
since 20062.155.596.059
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71032B0468/00T000 | Flanders | 3,528 m² | 1 · 1,341 m² | 12.2 m |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2024 · 3 entries · 2,926 EUR awarded · 2,421 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 90 EUR | 90 EUR |
| 2023 | 1 | 960 EUR | 960 EUR |
| 2022 | 1 | 1,876 EUR | 1,371 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Recognised contractor
7 categoriesBOUWONDERNEMING MASSIEF BV36422
Dual-learning approval
5 endedSimilar companies · same sector, comparable size
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Guilliams Immo Projects
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MICHEL VERBEKE & ZOON
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Zonnebeke · Eq €222k
Of 29,801 companies in sector 41001 we hold annual accounts for 16,041. 11,844 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded30-06-2006
Fiscal year end31-12
Activities, NACEBEL
41001General construction of residential buildings
45211
43110Demolition
43310Plastering work
45111
Sources
Crossroads Bank for EnterprisesNational Bank · 19 filingsAddress and cadastre registers
Data from official sources, last processed on 19-09-2026. Scores and ratios are computed by Checked and are not a credit decision.