MAS-PROJECT
ActiveSummary
The computed 12-month bankruptcy probability of MAS-PROJECT is 1.9% (moderate). The 2025 annual accounts show equity of €59,841 and a net result of €15,422. Its solvency ranks better than 84% of 34,946 sector peers (NACE 43, financial year 2025). The company has been active since 2023 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 25-05-2023 Normal situation
- Activity
- General electrical installation work NACE 43211
- Establishment unit
- 2.345.449.013 2890 Puurs-Sint-Amands, since 25-05-2023
- Financial year end
- 30 June
- Peppol
- Reachable since 11-09-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- 1.9%
Annual accounts to 30-06-2025
- Gross margin
- €56,216
- ▼ 8.5%
- Turnover
- ≈ €220,000
- estimated
- Profit
- €15,422
- ▼ 63.2%
- Equity
- €59,841
- ▲ 34.7%
- Total assets
- €76,465
- ▼ 8.2%
- Employees on 30-06-2025
- 2
Score breakdownraises riskFounded in 20231 change of registered office in 24 monthsSize: total assets €76,465lowers riskLiquidity: current ratio 3.73, cash €16,188, halvedShow the evidence
Checked score
Score 2025
57
/ 100
Fair
Probability in this band: 1.5% to 4.2%
Financially stronger than 79% of micro companies in specialised construction (NACE 43)
Financial strength · tick: 2024
Strong
Solvency
100+22
equity 78.3% of total assets
Liquidity
69-8
short-term debt 21.7% · cash 21.2%
Profitability
94-6
return on assets 20.2%
Bankruptcy probability within 12 months
1.9%
Moderate
0%0.5%1.5%4%10%≥ 25%
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 2.7%highest value
01-2025: 0.4%▼ -2.3 percentage points vs 12-2024lowest value
02-2025: 0.4%● unchanged vs 01-2025
03-2025: 0.4%● unchanged vs 02-2025
04-2025: 0.4%● unchanged vs 03-2025
05-2025: 0.9%▲ +0.5 percentage points vs 04-2025
06-2025: 0.9%● unchanged vs 05-2025
07-2025: 0.9%● unchanged vs 06-2025
08-2025: 0.9%● unchanged vs 07-2025
09-2025: 0.9%● unchanged vs 08-2025
10-2025: 1.1%▲ +0.2 percentage points vs 09-2025
11-2025: 1.3%▲ +0.2 percentage points vs 10-2025
12-2025: 1.3%● unchanged vs 11-2025
01-2026: 1.2%▼ -0.1 percentage points vs 12-2025
02-2026: 1.2%● unchanged vs 01-2026
03-2026: 1.2%● unchanged vs 02-2026
04-2026: 1.2%● unchanged vs 03-2026
05-2026: 1.2%● unchanged vs 04-2026
06-2026: 1.2%● unchanged vs 05-2026
07-2026: 1.2%● unchanged vs 06-2026
08-2026: 1.2%● unchanged vs 07-2026
09-2026: 1.2%● unchanged vs 08-2026
10-2026: 1.9%▲ +0.7 percentage points vs 09-2026
11-2026: 1.9%● unchanged vs 10-2026
Credit of up to €3,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 3.73 (1.85 in 2024), above the usual 1.5. Short-term debt is 21.7% and cash 21.2% of total assets. 21.7% of the assets are financed with debt and provisions.
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 43, micro). It does better than 90% of them on solvency, 68% on liquidity, 80% on profitability and 77% on growth.
The bankruptcy probability was computed on 02-11-2026 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.
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).
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 27-12-2025, 35 days ahead of the deadline.
NBB · 2 filingsDeviation from the deadline
2025
35 days early
2024
39 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 2 accounts on average 37 days before the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The financial year that closed on 30-06-2026 is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsWhere today falls in the filing period
30-06-2026 year end03-11-2026 today31-01-2027 deadline
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 27-12-2025 PDF all 2 filings
Turnover
≈ €220,000
Estimated: probably between €130,000 and €350,000
Total assets
€76,465▼ 8.2%
2024 · €83,303
Net result
€15,422▼ 63.2%
2024 · €41,919
Working capital
€45,382▲ 37.0%
2024 · €33,118
Multi-year overview
2024 to 2025, 2 financial yearsOperating result
€24,471
▼ 57.0%
2025
20242025
Net result
€15,422
▼ 63.2%
2025
middle half of the sector
20242025
Equity
€59,841
▲ 34.7%
2025
middle half of the sector
20242025
Total assets
€76,465
▼ 8.2%
2025
middle half of the sector
20242025
Debt
€16,624
▼ 57.2%
2025
20242025
Working capital
€45,382
▲ 37.0%
2025
middle half of the sector
20242025
Solvency
78.3%
▲ 24.9pp
2025
highest quarter of the sector
20242025
Current ratio
3.73
▲ 1.88
2025
highest quarter of the sector
20242025
Return on assets (ROA)
20.2%
▼ 30.2pp
2025
highest quarter of the sector
20242025
Staff (FTE)
0.6
2025
20242025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20242025
Operating result€56,964-€24,471▼ 57.0%
Net result€41,919above the sector's middle half-€15,422within the sector's middle half▼ 63.2%
Equity€44,419within the sector's middle half-€59,841within the sector's middle half▲ 34.7%
Total assets€83,303within the sector's middle half-€76,465within the sector's middle half▼ 8.2%
Debt€38,884-€16,624▼ 57.2%
Working capital€33,118within the sector's middle half-€45,382within the sector's middle half▲ 37.0%
Solvency53.3%within the sector's middle half-78.3%above the sector's middle half▲ 24.9pp
Current ratio1.85within the sector's middle half-3.73above the sector's middle half▲ 1.88
Return on assets (ROA)50.3%above the sector's middle half-20.2%above the sector's middle half▼ 30.2pp
Staff (FTE)0.6
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 57% lower than in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €76,465
Fixed assets
€14,459 ▲ 27.9%
Current assets
€62,006 ▼ 13.9%
Equity and liabilities €76,465
Equity
€59,841 ▲ 34.7%
Debt
€16,624 ▼ 57.2%
Debt's share of the balance-sheet total falls from 46.7% to 21.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€28,248▼
2024 · €60,194
Cash flow
€19,199▼
2024 · €45,148
Debt to equity
0.28▼
2024 · 0.88
ROE
25.8%▼
2024 · 94.4%
Interest coverage
9.88▼
2024 · over 100
Debt ≤ 1 year
€16,624▼
2024 · €38,884
Income taxes
€6,191▼
2024 · €14,653
Staff costs
€24,691
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-06-2025 |
|---|---|
| Employees at the balance-sheet date | 2 |
| full-time | 2 |
| in full-time equivalents | 2 |
| Average over the year, in full-time equivalents | 0.6 |
| On a permanent contract | 1 |
| Joined | 2 |
| Left | 0 |
Source: social balance sheet in the 2025 annual accounts
Investments
| Item | 30-06-2024 | 30-06-2025 |
|---|---|---|
| Tangible fixed assets | €14,530 | €6,935 |
| Depreciation and write-downs of the year | €3,229 | €3,777 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Remuneration, social security and pensions62 | - | €24,691 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,229 | €3,777 | ▲ 16.9% |
| Other operating charges640/8 | €1,276 | €3,277 | ▲ 157% |
| Gross operating margin9900 | €61,470 | €56,216 | ▼ 8.5% |
| Operating profit (loss)9901 | €56,964 | €24,471 | ▼ 57.0% |
| Financial charges65/66B | €392 | €2,858 | ▲ 629% |
| Recurring financial charges65 | €392 | €2,858 | ▲ 629% |
| Profit (loss) for the period before taxes9903 | €56,572 | €21,613 | ▼ 61.8% |
| Income taxes67/77 | €14,653 | €6,191 | ▼ 57.7% |
| Profit (loss) for the period9904 | €41,919 | €15,422 | ▼ 63.2% |
| Profit (loss) for the period to be appropriated9905 | €41,919 | €15,422 | ▼ 63.2% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €83,303 | €76,465 | ▼ 8.2% |
| Fixed assets21/28 | €11,300 | €14,459 | ▲ 27.9% |
| Tangible fixed assets22/27 | €11,300 | €14,459 | ▲ 27.9% |
| Plant, machinery and equipment23 | €960 | €6,759 | ▲ 604% |
| Furniture and vehicles24 | €10,340 | €7,700 | ▼ 25.5% |
| Current assets29/58 | €72,003 | €62,006 | ▼ 13.9% |
| Amounts receivable within one year40/41 | €4,137 | €20,842 | ▲ 404% |
| Trade receivables40 | €908 | €18,217 | ▲ 20× |
| Other amounts receivable41 | €3,229 | €2,625 | ▼ 18.7% |
| Cash at bank and in hand54/58 | €38,753 | €16,188 | ▼ 58.2% |
| Deferred charges and accrued income490/1 | €29,113 | €24,976 | ▼ 14.2% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €83,303 | €76,465 | ▼ 8.2% |
| Equity10/15 | €44,419 | €59,841 | ▲ 34.7% |
| Contributions10/11 | €2,500 | €2,500 | = |
| Reserves13 | €30,000 | €42,000 | ▲ 40.0% |
| Distributable reserves133 | €30,000 | €42,000 | ▲ 40.0% |
| Profit (loss) carried forward14 | €11,919 | €15,341 | ▲ 28.7% |
| Amounts payable17/49 | €38,884 | €16,624 | ▼ 57.2% |
| Amounts payable within one year42/48 | €38,884 | €16,624 | ▼ 57.2% |
| Trade debts44 | €284 | €3,404 | ▲ 12× |
| Suppliers440/4 | €284 | €3,404 | ▲ 12× |
| Taxes, remuneration and social security45 | €29,653 | €12,138 | ▼ 59.1% |
| Taxes450/3 | €19,653 | €6,808 | ▼ 65.4% |
| Remuneration and social security454/9 | €10,000 | €5,330 | ▼ 46.7% |
| Other amounts payable47/48 | €8,947 | €1,083 | ▼ 87.9% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | €41,919 | €15,422 | ▼ 63.2% |
| + Depreciation and write-downs630 | €3,229 | €3,777 | ▲ 16.9% |
| Operating cash flow (approximation) | €45,148 | €19,199 | ▼ 57.5% |
| Investment in fixed assets (approximation) | - | -€6,935 | - |
| Change in cash | - | -€22,565 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 39,278 companies had the same profile as MAS-PROJECT has now. Two years later, 95.9% were still going and 1.8% had gone bankrupt.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.9%
was still going
2.3%
stopped otherwise
1.8%
went bankrupt
That fits the bankruptcy probability of MAS-PROJECT itself: 1.9% within 12 months.
Test of the method
The method was tested on the 497,446 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 39,278 companies, not a prediction for MAS-PROJECT. 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.
Board & ownership
Directors
Directors
1 director, no change since 2023
ASLAN Mevlüt
Current
Director (not named in the articles) · since 23-05-2023 · term without a fixed end · listed in the 2025 annual accounts, filed on 27-12-2025
Signing authorityThe articles say who may bind the company, for example by signing a contract.
Each director alone
deed of 30-05-2023Owners and capital
Shareholders
At incorporation
act of 30-05-2023 ↗
- ASLAN Mevlüt 100 shares (100%) · €2,500 in cash
Capital transactions
Capital over time
- 30-05-2023 Incorporation · €2,500 · 100 shares
Articles of association
- Share issue ruleThe articles set how and by whom new shares are issued.
- “Aandelen moeten bij hun uitgifte worden volgestort, In geval van een enige aandeelhouder-bestuurder, bepaalt deze laatste vrij, naargelang…”“Gedurende een termijn van ten minste vijftien dagen te rekenen van de dag van de openstelling van de intekening, De opening van de…”
Articles of association, deed of 30-05-2023 (in Dutch)
Network & group
MAS-PROJECT shares no director with another company.
Connections & network
1 current directorThe network starts from the directors of MAS-PROJECT. Every other company they run is a node.
This company
Company
Director
Shareholding
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Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2025
27-12
micro format · 35 days before the deadline
30-06
Financial
Liquidity doublescurrent ratio 3.73
The current ratio rises from 1.85 to 3.73. Short-term debt falls from €38,884 to €16,624.
01-04
Gazette deed
Registered office moved within Puurs-Sint-Amands2 points ▸
Gazette deed
Registered office moved within Puurs-Sint-Amands
2 points ▸
- General meeting, 24-02-2025
- Registered-office move, Emmanuel Rollierstraat 11, 2890 Puurs-Sint-Amands
2024
23-12
micro format · 39 days before the deadline
2023
30-05
Gazette deed
IncorporationStarting capital €2,500 · Appointment: ASLAN Mevlüt (director) · Founder10 points ▸
Gazette deed
Incorporation
Starting capital €2,500 · Appointment: ASLAN Mevlüt (director) · Founder10 points ▸
- Incorporation, 23-05-2023
- Founder, ASLAN Mevlüt
- Founding capital, €2,500
- Bank account, “KBC Bank NV, artikel 5:9 WVV” (deed in Dutch)
- Other provision, “financial plan, financieel plan werd aan de notaris overhandigd overeenkomstig de wet” (deed in Dutch)
- Director appointment, ASLAN Mevlüt (director (not named in the articles))
- Pre-incorporation commitments, “takeover, all commitments and obligations arising therefrom, and all activities undertaken by the comparant in the name and for the account of the company in fo…” (deed in Dutch)
- Registered office clause, “2890 Puurs – Sint-Amands, Emmanuel Rollierstraat 15” (deed in Dutch)
- Power of attorney, Ellen Flies
- Power of attorney, Sarah De Jonghe
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
MAS-PROJECT in Dutch
Enterprise number
0802.114.081
Legal form
Private limited company
Status
Active, normale toestand
Founded
25-05-2023
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 30-05-2023 (in Dutch)Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Vlaamse Gewest, kan worden overgebracht naar om het even welke plaats in het tweetalig gebied Brussel Hoofdstad of in het Nederlands…”
deed of 30-05-2023 (in Dutch)Registered office and establishments
Registered office
Emmanuel Rollierstraat 11, 2890 Puurs-Sint-Amands, Belgium
Establishment unit
MAS-PROJECT, Emmanuel Rollierstraat 15, 2890 Puurs-Sint-Amands since 25-05-2023 · unit number 2.345.449.013
Activities
NACEBEL 2025VAT activities
43211
General electrical installation work main activity
Social security (RSZ) activities
43211
General electrical installation work main activity
Codes under NACEBEL 2008
43211
Specialised construction activities main activity
PurposeThe purpose describes the activities the company may carry out under its articles.
deed of 30-05-2023 (in Dutch)
“Elektrotechnische installatie aan gebouwen, elektriciteitswerken in de ruimst mogelijke zin; Draadloze communicatie; Onderneming voor alle…”
43 activities
- Elektrotechnische installatie aan gebouwen, elektriciteitswerken in de ruimst mogelijke zin
- Draadloze communicatie
- Onderneming voor alle ondergrondse en bovengrondse nutsvoorzieningen
- Werken en aansluitingen in verband met gas, water en elektriciteitsvoorziening en televisieaansluiting
- Het bouwen, herstellen en onderhoud van wegen, rioleringswerken, het leggen van kabels en leidingen, wegpersingen en dwarsboringen
- Het uitvoeren van metselwerk en voegwerk
- Landschapsverzorging
- Bandenservicebedrijven
- Onderhoud en reparatie aan motorvoertuigen
- Aanneming van afbraak- en sloopwerken
- Het aanleggen van opritten in klinkers, kasseien en andere gelijkaardige materialen
- Algemene bouwonderneming
- Overige gespecialiseerde bouwwerkzaamheden
- Het plaatsen, herstellen en onderhouden van straatpalen en verlichting, bouw van andere civieltechnisch werken n.e.g.
- Bouw van water -en gasdistributienetten
- Het grondverzet : graven, ophogen, egaliseren en nivelleren van bouwterreinen, graven van sleuven en geulen, bouwrijp maken van gronden en ondergronden, verwijderen van rotsen
- Grondwerken in het algemeen, het bouwrijp maken van terreinen
- Proefboren en boren
- Bouw van daken, waterdicht maken van daken en dakterrassen
- Stukadoorswerk
- Aanbrengen van pleister en stukadoorswerk(inclusief het aanbrengen van een hechtgrond) aan de binnen of buitenzijde van gebouwen en andere bouwwerken
- Algemene spoorwegwerken
- Algemene kabelwerken
- Isolatiewerkzaamheden
- Overige reiniging van gebouwen en industriële reiniging
- Algemene straal –en schilderwerken, gebouwen, scheepvaart en andere
- Algemene laswerken
- Overige diensten op het gebied van informatietechnologie en computer
- Computerconsultancy activiteiten
- Reparatie van computer en randapparatuur
- Ontwerp en programmeren van computerprogramma’s
- Detailhandel in computers, randapparatuur en software in gespecialiseerde winkels
- Car– en truckcleaning, carwash
- Het kopen en verkopen, huren en verhuren van allerhande machines en infrastructuur noodzakelijk voor het uitoefenen van alle activiteiten van de vennootschap
- Goederenvervoer lang de weg: vervoer van boomstammen, zwaar internationaal vervoer, veevervoer, vervoer met koelwagen, vervoer van bulkgoederen, inclusief vervoer van tankwagens, autovervoer, koerierdiensten, vervoersbemiddeling, vrachtbehandeling en opslag, verhuur van vrachtwagens met bestuurder, organisatie van het vrachtvervoer
- Het kopen en verkopen van bouwmaterialen
- Het uitoefenen van het beroep van sanitair installateur, loodgieter, installateur van centrale verwarming en het plaatsen van electronische installaties
- Overige zakelijke dienstverlening, n.e.g.
- Uitbaten van restaurant & snack, taverne, cafe
- Superettes : groot- en kleinhandel
- Overige zakelijke dienstverlening , n.e.g.
- Diverse administratieve activiteiten ten behoeve van kantoren
- Algemene administratieve zaken
Invoicing and payment
VAT number
BE 0802.114.081
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0802.114.081
Financial year and general meeting
Accounts at the NBBFinancial year end
30-06
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
First Thursday of December at 19:00
deed of 30-05-2023 (in Dutch)Sites & property
Location
Buildings and parcels at the addresses
Ground area
379 m²
Building footprint
269 m²
Building volume
1,349 m³
Tallest building: 9.5 m.
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 12034A0206/00E000 | Flanders | 287 m² | 1 · 153 m² | 8.5 m · 1 |
| 12034A0211/00_000 | Flanders | 92 m² | 1 · 116 m² | 9.5 m · 2 |