MASAAL
ActiveSummary
The computed 12-month bankruptcy probability of MASAAL is 1.9% (moderate). The 2025 annual accounts show negative equity (-€22,033) and a net result of -€1,329. Equity is shrinking by ~11.8% per year across the filed fiscal years. Its net result ranks better than 25% of 3507 sector peers (fiscal year 2025). The company has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
No current score
Insufficient figures
A score requires measurable solvency, liquidity and profitability. Missing figures are not a judgement about the company.
Axes · tick = 2024
Profitability-
Solvency-
Growth58=
Track record100
Bankruptcy probability, 12 months
1.9%
Moderate
0%0.5%1.5%4%10%≥ 25%
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Signals
Six 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 74
Relative position
BE, all sectors
reference
Other professional, scientific and technical activities (NACE 74)
about 48% fewer bankruptcies
← 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 · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€22,033
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 08-06-2026, 53 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
53 d early
2024
58 d early
2023
65 d early
2022
76 d early
2021
62 d early
2020
8 d early
2019
3 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 46 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 38% of the sector filed late.
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. Usually files around 30 May (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
-€22,033▼ 6.4%
2024 · -€20,704
Total assets
€9▼ 31.5%
2020 · €13
Net result
-€1,329▲ 13.6%
2024 · -€1,537
Working capital
-€14,672▼ 13.4%
2020 · -€12,939
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 74, Other professional, scientific and technical activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€1,554▼ 8.6%-€1,440▲ 7.4%-€3,046▼ 112%-€1,537▲ 49.5%-€1,329▲ 13.6%
Net result-€1,733below the sector's middle half▼ 13.5%-€1,449below the sector's middle half▲ 16.4%-€3,046below the sector's middle half▼ 110%-€1,537below the sector's middle half▲ 49.5%-€1,329within the sector's middle half▲ 13.6%
Equity-€14,672below the sector's middle half▼ 13.4%-€16,121below the sector's middle half▼ 9.9%-€19,167below the sector's middle half▼ 18.9%-€20,704below the sector's middle half▼ 8.0%-€22,033below the sector's middle half▼ 6.4%
Total assets€9below the sector's middle half▼ 31.5%
Debt€14,681▲ 13.3%€16,121▲ 9.8%€19,167▲ 18.9%€20,704▲ 8.0%€22,033▲ 6.4%
Working capital-€14,672below the sector's middle half▼ 13.4%
above
within
below
the middle half (P25 to P75) of NACE 74, Other professional, scientific and technical activities, each year against the same schema; no band under 30 filings.
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 €1,329 in 2025 against €1,537 in 2024; the loss shrinks.
Key figures and ratios
Debt to equity
-1.00=
2024 · -1.00
Debt ≤ 1 year
€22,033▲
2024 · €20,704
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Other operating charges640/8 | €348 | €348 | €384 | €387 | €400 | ▲ 3.2% |
| Gross operating margin9900 | -€1,207 | -€1,092 | -€2,661 | -€1,150 | -€929 | ▲ 19.2% |
| Operating profit (loss)9901 | -€1,554 | -€1,440 | -€3,046 | -€1,537 | -€1,329 | ▲ 13.6% |
| Financial charges65/66B | €179 | €10 | - | - | - | - |
| Recurring financial charges65 | €179 | €10 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | -€1,733 | -€1,449 | -€3,046 | -€1,537 | -€1,329 | ▲ 13.6% |
| Profit (loss) for the period9904 | -€1,733 | -€1,449 | -€3,046 | -€1,537 | -€1,329 | ▲ 13.6% |
| Profit (loss) for the period to be appropriated9905 | -€1,733 | -€1,449 | -€3,046 | -€1,537 | -€1,329 | ▲ 13.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €9 | - | - | - | - | - |
| Current assets29/58 | €9 | - | - | - | - | - |
| Cash at bank and in hand54/58 | €9 | - | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €9 | - | - | - | - | - |
| Equity10/15 | -€14,672 | -€16,121 | -€19,167 | -€20,704 | -€22,033 | ▼ 6.4% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €191 | €191 | €191 | €191 | €191 | = |
| Non-distributable reserves130/1 | €191 | €191 | €191 | €191 | €191 | = |
| Reserves not available under the articles1311 | €191 | €191 | €191 | €191 | €191 | = |
| Profit (loss) carried forward14 | -€21,063 | -€22,512 | -€25,558 | -€27,095 | -€28,424 | ▼ 4.9% |
| Amounts payable17/49 | €14,681 | €16,121 | €19,167 | €20,704 | €22,033 | ▲ 6.4% |
| Amounts payable within one year42/48 | €14,681 | €16,121 | €19,167 | €20,704 | €22,033 | ▲ 6.4% |
| Trade debts44 | €1,086 | €971 | €971 | €666 | €682 | ▲ 2.4% |
| Suppliers440/4 | €1,086 | €971 | €971 | €666 | €682 | ▲ 2.4% |
| Other amounts payable47/48 | €13,595 | €15,150 | €18,196 | €20,039 | €21,351 | ▲ 6.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€1,733 | -€1,449 | -€3,046 | -€1,537 | -€1,329 | ▲ 13.6% |
| Operating cash flow (approximation) | -€1,733 | -€1,449 | -€3,046 | -€1,537 | -€1,329 | ▲ 13.6% |
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
08-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
03-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
27-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet -€3,046
Net result drops to -€3,046, the lowest in the series; recovery starts the following year.
16-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
23-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
28-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
06-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 6 days late
2018
25-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
31-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Grez-Doiceau · 1 establishment unit since 2012
Ground area
3,512 m²
Building footprint
106 m²
Volume, LiDAR
775 m³
Parcel 25037B0354/00D000, Wallonia · tallest building 9.6 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
MASAAL
since 20122.213.164.173
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25037B0354/00D000 | Wallonia | 3,512 m² | 1 · 106 m² | 9.6 m · 2 fl. |
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.
Similar companies · same sector and region
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 14,138 companies in sector 74201 we hold annual accounts for 2,616. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded27-04-2012
Fiscal year end31-12
Activities, NACEBEL 2025
74201Photography, excluding press photography
64210Activities of holding companies
70200Business and other management consultancy
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0845590075
Also
9925:BE0845590075
Registered
20-08-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.