MASACO
ActiveMASACO has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €92k and a net result of €-6k. Equity is shrinking by ~2.7% per year across the filed fiscal years. Its solvency ranks better than 25% of 36376 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability0=
Solvency22▼-1
Growth52=
Stability100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.02 against 0.03 in 2023), and 77% 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Sector 43
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 · 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 2024Solvency, return and age of the figures
Solvency
23%
Return on assets
-1.5%
Age of the figures
20 mo
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity fell accordingly. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
18192021222324
2018 to 2024 · latest year -€6k
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 25% of 36376 sector peers (2024).
NBB · sector comparisonPosition among 36376 sector peers
Solvency
better than 25%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 24-06-2025, 37 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
37 d early
2023
46 d early
2022
44 d early
2021
32 d early
2020
33 d early
2019
58 d early
← before the deadline
after the deadline →
Financials · fiscal year 2024, micro schema
Equity
€92k▼ 6.2%
2023 · €98k
2018: €87k
2019: €110k
2020: €114k
2021: €101k
2022: €102k
2023: €98k
2018 → 2024
Total assets
€400k▼ 3.4%
2023 · €414k
2018: €520k
2019: €491k
2020: €477k
2021: €438k
2022: €425k
2023: €414k
2018 → 2024
Net result
€-6k▼ 47.1%
2023 · €-4k
2018: €-3k
2019: €23k
2020: €4k
2021: €-13k
2022: €1k
2023: €-4k
2018 → 2024
Working capital
€-302k▲ 1.8%
2023 · €-307k
2018: €-411k
2019: €-369k
2020: €-341k
2021: €-329k
2022: €-315k
2023: €-307k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€114k-€101k▼ 11.2%€102k▲ 1.4%€98k▼ 4.0%€92k▼ 6.2%
Operating result€5k-€-12k€2k€-4k€-6k▼ 49.5%
Net result€4k-€-13k€1k€-4k€-6k▼ 47.1%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €6k in 2024 against €4k in 2023; the loss grows.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €400k
Fixed assets
€394k▼ 2.8%
Current assets
€6k▼ 31.9%
Equity and liabilities €400k
Equity
€92k▼ 6.2%
Debt
€308k▼ 2.5%
The debt ratio rises from 76.3% to 77.0%: equity shrinks faster than debt is paid down.
Key figures and ratios
EBITDA
€6k▼
2023 · €8k
Cash flow
€5k▼
2023 · €8k
Solvency
23.0%▼
2023 · 23.7%
Current ratio
0.02▼
2023 · 0.03
Quick ratio
0.02▼
2023 · 0.03
Debt / equity
3.34▲
2023 · 3.21
ROE
-6.6%▼
2023 · -4.2%
ROA
-1.5%▼
2023 · -1.0%
Interest coverage
30.61▼
2023 · 41.88
Debt
€308k▼
2023 · €316k
Debt ≤ 1 year
€308k▼
2023 · €316k
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 · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€414k€400k▼
Fixed assets21/28€406k€394k▼
Tangible fixed assets22/27€406k€394k▼
Land and buildings22€404k€393k▼
Plant, machinery and equipment23€751€216▼
Furniture and vehicles24€607€639▲
Current assets29/58€8k€6k▼
Amounts receivable within one year40/41€8k€5k▼
Trade receivables40€7k€5k▼
Other amounts receivable41€702€702=
Cash at bank and in hand54/58€435€222▼
Equity and liabilities
Total equity and liabilities10/49€414k€400k▼
Equity10/15€98k€92k▼
Contributions10/11€19k€19k=
Reserves13€2k€2k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Profit (loss) carried forward14€78k€72k▼
Amounts payable17/49€316k€308k▼
Amounts payable within one year42/48€316k€308k▼
Trade debts44€1k€1k▲
Suppliers440/4€1k€1k▲
Other amounts payable47/48€314k€306k▼
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€12k€11k▼
Other operating charges640/8€2k€2k▲
Gross operating margin9900€10k€8k▼
Operating profit (loss)9901€-4k€-6k▼
Financial charges65/66B€194€182▼
Recurring financial charges65€194€182▼
Profit (loss) for the period before taxes9903€-4k€-6k▼
Income taxes67/77€-4-
Profit (loss) for the period9904€-4k€-6k▼
Profit (loss) for the period to be appropriated9905€-4k€-6k▼
Appropriation of the result
Profit (loss) to be appropriated9906€78k€72k▼
Profit (loss) brought forward from the previous period14P€82k€78k▼
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
24-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
15-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
17-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Back to profitnet €1k
Net result €1k after one loss-making year.
29-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Weakest financial yearnet €-13k ▼420%
Net result drops to €-13k, the lowest in the series; recovery starts the following year.
28-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
03-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Back to profitnet €23k
Net result €23k after one loss-making year.
31-12
Financial
Equity above €100kEq €110k ▲26%
Equity rises from €87k to €110k.
19-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
25-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
21-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
20-06
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
3 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, Koksijde · 1 establishment unit since 2002
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.
Albert I Laan(Odk) 1278670 KoksijdeGround area
3,075 m²
Building footprint
982 m²
Volume, LiDAR
837 m³
2 parcels, Flanders · tallest building 4.5 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Gladiatorenstraat(Mar) 35, 8510 Kortrijk
since 20022.114.689.971
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 38502G0612/00B000 | Flanders | 2,253 m² | 1 · 689 m² | - |
| 34026A0201/00N000 | Flanders | 822 m² | 1 · 293 m² | 4.5 m · 1 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels 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
NELU CONSTRUCT
BE 0507.733.830
Jette · Eq €92k
ANATOL
BE 0536.638.642
Koekelberg · Eq €92k
MC MONTAGE
BE 0525.961.417
Tubize · Eq €92k
PIT CONSTRUCT
BE 0691.623.658
Sint-Pieters-Leeuw · Eq €92k
RENE ADAM
BE 0886.044.916
Durbuy · Eq €92k
Of 15,434 companies in sector 43990 we hold annual accounts for 7,355. 6,193 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded13-11-2002
Fiscal year end31-12
Activities, NACEBEL
43990Other specialised construction activities
43999Specialised construction activities
45250
Sources
Crossroads Bank for EnterprisesNational Bank · 22 filingsAddress and cadastre registers
Data from official sources, last processed on 12-09-2026. Scores and ratios are computed by Checked and are not a credit decision.