IMMO MASA
ActiveIMMO MASA has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €679k and a net result of €-222k. Equity is growing by ~18% per year across the filed fiscal years. Its solvency ranks better than 27% of 4530 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
39
/ 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
Profitability13▼-58
Solvency39▼-4
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days only on tighter terms
Liquidity tight (current ratio 1.14 against 1.19 in 2024; short-term debt: 85.7% and cash: 0.3% of total assets), and 86.1% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Sector 68
lower
← 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 · 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
13.9%
Return on assets
-4.6%
Age of the figures
18 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 23-10-2025, 8 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
8 d early
2024
3 d early
2023
18 d early
2022
22 d late
2021
4 d early
2020
11 d early
2019
6 d late
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close20-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-222k
2024 · €324k
2019: €280k
2020: €-2k
2021: €271k
2022: €-247k
2023: €475k
2024: €324k
2019 → 2025
Working capital
€577k▼ 25.0%
2024 · €769k
2019: €273k
2020: €228k
2021: €534k
2022: €155k
2023: €580k
2024: €769k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€554k-€307k▼ 44.5%€732k▲ 138%€902k▲ 23.2%€679k▼ 24.7%
Operating result€404k-€-234k€689k€569k▼ 17.3%€-82k
Net result€271k-€-247k€475k€324k▼ 31.7%€-222k
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €82k after €569k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.88M
Fixed assets
€121k▼ 11.5%
Current assets
€4.76M▼ 2.2%
Equity and liabilities €4.88M
Equity
€679k▼ 24.7%
Debt
€4.20M▲ 2.4%
The debt ratio rises from 82.0% to 86.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-39k▼
2024 · €623k
Cash flow
€-180k▼
2024 · €378k
Solvency
13.9%▼
2024 · 18.0%
Current ratio
1.14▼
2024 · 1.19
Quick ratio
0.24▼
2024 · 0.36
Debt / equity
6.19▲
2024 · 4.55
ROE
-32.7%▼
2024 · 35.9%
ROA
-4.6%▼
2024 · 6.5%
Interest coverage
-0.28▼
2024 · 5.28
Debt
€4.20M▲
2024 · €4.10M
Debt ≤ 1 year
€4.18M▲
2024 · €4.10M
Debt > 1 year
€18k▲
2024 · €4k
Income taxes
€1k▼
2024 · €131k
Staff costs
€1.06M▼
2024 · €1.08M
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€5.00M€4.88M▼
Fixed assets21/28€137k€121k▼
Tangible fixed assets22/27€71k€55k▼
Plant, machinery and equipment23€502€324▼
Furniture and vehicles24€37k€33k▼
Other tangible fixed assets26€33k€22k▼
Financial fixed assets28€66k€66k=
Current assets29/58€4.87M€4.76M▼
Stocks and contracts in progress3€3.41M€3.76M▲
Stocks30/36€3.41M€3.76M▲
Amounts receivable within one year40/41€1.46M€970k▼
Trade receivables40€1.41M€934k▼
Other amounts receivable41€47k€36k▼
Cash at bank and in hand54/58€288€13k▲
Deferred charges and accrued income490/1€2k€15k▲
Equity and liabilities
Total equity and liabilities10/49€5.00M€4.88M▼
Equity10/15€902k€679k▼
Contributions10/11€50k€50k=
Reserves13€852k€629k▼
Non-distributable reserves130/1€5k€5k=
Reserves not available under the articles1311€5k€5k=
Distributable reserves133€847k€624k▼
Profit (loss) carried forward14€0€0=
Amounts payable17/49€4.10M€4.20M▲
Amounts payable after more than one year17€4k€18k▲
Financial debts170/4€4k€18k▲
Amounts payable within one year42/48€4.10M€4.18M▲
Current portion of amounts payable after more than one year42€20k€12k▼
Financial debts43€2.16M€2.16M▼
Credit institutions430/8€2.16M€2.16M▼
Trade debts44€1.21M€1.44M▲
Suppliers440/4€1.21M€1.44M▲
Advances received on contracts in progress46€11k€11k=
Taxes, remuneration and social security45€476k€473k▼
Taxes450/3€262k€195k▼
Remuneration and social security454/9€214k€278k▲
Other amounts payable47/48€217k€95k▼
Income statement
Code20242025
Remuneration, social security and pensions62€1.08M€1.06M▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€54k€43k▼
Other operating charges640/8€23k€49k▲
Gross operating margin9900€1.72M€1.07M▼
Operating profit (loss)9901€569k€-82k▼
Financial income75/76B€4k€2k▼
Recurring financial income75€4k€2k▼
Financial charges65/66B€118k€142k▲
Recurring financial charges65€118k€142k▲
Profit (loss) for the period before taxes9903€455k€-221k▼
Income taxes67/77€131k€1k▼
Profit (loss) for the period9904€324k€-222k▼
Profit (loss) for the period to be appropriated9905€324k€-222k▼
Appropriation of the result
Profit (loss) to be appropriated9906€324k€-222k▼
Transfer from equity791/2-€222k
Transfer to equity691/2€170k€0▼
To other reserves6921€170k€0▼
Profit to be distributed694/7€154k€0▼
Return on contributions (dividend)694€154k€0▼
Social balance
Average headcount (FTE)908715.015.0=
The notes to these accounts (21 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
2025
23-10
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2024
28-10
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2023
13-10
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
31-03
Financial
Back to profitnet €475k
Net result €475k after one loss-making year.
31-03
Financial
Equity above €500kEq €732k ▲138%
Equity rises from €307k to €732k.
2022
22-11
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 22 days late
31-03
Financial
Weakest financial yearnet €-247k ▼191%
Net result drops to €-247k, the lowest in the series; recovery starts the following year.
2021
27-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
31-03
Financial
Back to profitnet €271k
Net result €271k after one loss-making year.
31-03
Financial
Equity above €500kEq €554k ▲67.2%
Equity rises from €331k to €554k.
2020
20-10
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2019
06-11
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 6 days late
2018
23-10
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2017
03-10
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2016
26-10
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
7 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, La Louvière · 1 establishment unit since 2011
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.
Rue de la Croix du Maïeur(S-B) 217110 La LouvièreGround area
2,172 m²
Parcel 55042A0609/00A002, Wallonia. Linked by address, not a title deed.
1 establishment unit
Rue de la Croix du Maïeur(S-B) 21, 7110 La Louvière
since 20112.203.680.543
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 55042A0609/00A002 | Wallonia | 2,172 m² | - | - |
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.
Similar companies · same sector, comparable size
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BE 0428.366.450
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STIGT
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GHLOBAL
BE 0744.408.484
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REASET
BE 0675.906.391
Wielsbeke · Eq €680k
SOLIMMO
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Herve · Eq €681k
Of 9,695 companies in sector 68121 we hold annual accounts for 7,381. 4,406 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded30-09-2011
Fiscal year end31-03
Activities, NACEBEL
68121Development of residential building projects
43910Bricklaying and masonry work
43994Specialised construction activities
68122Development of non-residential building projects
Sources
Crossroads Bank for EnterprisesNational Bank · 13 filingsAddress and cadastre registers
Data from official sources, last processed on 20-09-2026. Scores and ratios are computed by Checked and are not a credit decision.