MASAGI
ActiveSummary
The computed 12-month bankruptcy probability of MASAGI is 4.0% (elevated). The 2024 annual accounts show equity of €91,886 and a net result of €39,507. Equity is growing by ~20.7% per year across the filed fiscal years. Its solvency ranks better than 66% of 18935 sector peers (fiscal year 2024). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
59
/ 100
Fair
An elevated bankruptcy probability caps the score. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability94▲+6
Solvency72▼-6
Growth78=
Track record100
Bankruptcy probability, 12 months
4.0%
Elevated
0%0.5%1.5%4%10%≥ 25%
Credit up to €5,000 at 30 days only on tighter terms
Liquidity ample (current ratio 1.52 against 1.56 in 2023; short-term debt: 52.5% and cash: 62.9% of total assets), but 52.5% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
+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 56
Relative position
BE, all sectors
reference
Food and beverage service activities (NACE 56)
about 206% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 14-10-2025, 75 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 5 filingsDeviation from the deadline
2025
not confirmed
2024
75 d late
2023
48 d late
2022
29 d late
2021
30 d late
2020
31 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 43 days after the deadline; the sector median for financial year 2024 is 6 days after the deadline, and 53% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€91,886▼ 12.3%
2023 · €104,826
Total assets
€193,574▼ 1.5%
2023 · €196,592
Net result
€39,507▲ 31.2%
2023 · €30,117
Working capital
€52,560▲ 1.6%
2023 · €51,742
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 56, Food and beverage service activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€9,586-€56,597▲ 490%€26,581▼ 53.0%€40,490▲ 52.3%€56,916▲ 40.6%
Net result€8,670within the sector's middle half-€49,479above the sector's middle half▲ 471%€20,189above the sector's middle half▼ 59.2%€30,117above the sector's middle half▲ 49.2%€39,507above the sector's middle half▲ 31.2%
Equity€18,670within the sector's middle half-€68,149within the sector's middle half▲ 265%€88,338above the sector's middle half▲ 29.6%€104,826above the sector's middle half▲ 18.7%€91,886above the sector's middle half▼ 12.3%
Total assets€95,211within the sector's middle half-€179,761within the sector's middle half▲ 88.8%€189,280within the sector's middle half▲ 5.3%€196,592within the sector's middle half▲ 3.9%€193,574within the sector's middle half▼ 1.5%
Debt€76,541-€111,612▲ 45.8%€100,942▼ 9.6%€91,766▼ 9.1%€101,689▲ 10.8%
Working capital-€12,768within the sector's middle half-€12,898within the sector's middle half€27,635within the sector's middle half▲ 114%€51,742above the sector's middle half▲ 87.2%€52,560above the sector's middle half▲ 1.6%
Solvency19.6%within the sector's middle half-37.9%within the sector's middle half▲ 18.3pp46.7%within the sector's middle half▲ 8.8pp53.3%within the sector's middle half▲ 6.7pp47.5%within the sector's middle half▼ 5.9pp
Current ratio0.78within the sector's middle half-1.13within the sector's middle half▲ 0.341.28within the sector's middle half▲ 0.151.56within the sector's middle half▲ 0.291.52within the sector's middle half▼ 0.05
Return on assets (ROA)9.1%within the sector's middle half-27.5%above the sector's middle half▲ 18.4pp10.7%within the sector's middle half▼ 16.9pp15.3%above the sector's middle half▲ 4.7pp20.4%above the sector's middle half▲ 5.1pp
Staff (FTE)1.4within the sector's middle half-3.6▲ 157%10.6▲ 194%5.1▼ 51.9%5.5▲ 7.8%
above
within
below
the middle half (P25 to P75) of NACE 56, Food and beverage service 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
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 41% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €193,574
Fixed assets
€39,326 ▼ 25.9%
Current assets
€154,249 ▲ 7.5%
Equity and liabilities €193,574
Equity
€91,886 ▼ 12.3%
Debt
€101,689 ▲ 10.8%
Debt's share of the balance-sheet total rises from 46.7% to 52.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€70,675▲
2023 · €51,000
Cash flow
€53,265▲
2023 · €40,627
Quick ratio
1.40▲
2023 · 1.38
Debt to equity
1.11▲
2023 · 0.88
ROE
43.0%▲
2023 · 28.7%
Interest coverage
89.83▲
2023 · 48.74
Debt ≤ 1 year
€101,689▲
2023 · €91,766
Income taxes
€16,668▲
2023 · €9,340
Staff costs
€108,380▼
2023 · €132,050
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,975 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.6%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 4.0% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 26,975 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €72,980 | €162,938 | €132,050 | €108,380 | ▼ 17.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,761 | €13,412 | €13,609 | €10,510 | €13,758 | ▲ 30.9% |
| Other operating charges640/8 | - | €3,644 | €3,467 | €4,125 | €2,921 | ▼ 29.2% |
| Non-recurring operating charges66A | - | - | - | €3,600 | - | - |
| Gross operating margin9900 | €40,973 | €146,633 | €206,595 | €190,774 | €181,976 | ▼ 4.6% |
| Operating profit (loss)9901 | €9,586 | €56,597 | €26,581 | €40,490 | €56,916 | ▲ 40.6% |
| Financial income75/76B | - | €117 | €163 | €13 | €45 | ▲ 240% |
| Recurring financial income75 | €0 | €117 | €163 | €13 | €45 | ▲ 240% |
| Financial charges65/66B | - | €679 | €626 | €1,046 | €787 | ▼ 24.8% |
| Recurring financial charges65 | €916 | €679 | €626 | €1,046 | €787 | ▼ 24.8% |
| Profit (loss) for the period before taxes9903 | €8,670 | €56,036 | €26,118 | €39,457 | €56,175 | ▲ 42.4% |
| Income taxes67/77 | - | €6,557 | €5,929 | €9,340 | €16,668 | ▲ 78.5% |
| Profit (loss) for the period9904 | €8,670 | €49,479 | €20,189 | €30,117 | €39,507 | ▲ 31.2% |
| Profit (loss) for the period to be appropriated9905 | €8,670 | €49,479 | €20,189 | €30,117 | €39,507 | ▲ 31.2% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €95,211 | €179,761 | €189,280 | €196,592 | €193,574 | ▼ 1.5% |
| Fixed assets21/28 | €49,222 | €65,369 | €61,943 | €53,084 | €39,326 | ▼ 25.9% |
| Tangible fixed assets22/27 | €30,109 | €44,756 | €38,973 | €30,113 | €16,355 | ▼ 45.7% |
| Plant, machinery and equipment23 | - | €20,379 | €15,334 | €8,858 | €2,382 | ▼ 73.1% |
| Furniture and vehicles24 | - | €19,361 | €19,152 | €17,298 | €10,545 | ▼ 39.0% |
| Other tangible fixed assets26 | - | €5,016 | €4,487 | €3,957 | €3,428 | ▼ 13.4% |
| Financial fixed assets28 | €19,113 | €20,613 | €22,970 | €22,970 | €22,970 | = |
| Current assets29/58 | €45,989 | €114,393 | €127,337 | €143,508 | €154,249 | ▲ 7.5% |
| Stocks and contracts in progress3 | €11,914 | €12,405 | €12,904 | €16,834 | €12,369 | ▼ 26.5% |
| Stocks30/36 | - | €12,405 | €12,904 | €16,834 | €12,369 | ▼ 26.5% |
| Amounts receivable within one year40/41 | €8,213 | €8,772 | €33,903 | €21,095 | €18,203 | ▼ 13.7% |
| Other amounts receivable41 | - | €8,772 | €33,903 | €21,095 | €18,203 | ▼ 13.7% |
| Cash at bank and in hand54/58 | €25,670 | €93,215 | €72,539 | €103,871 | €121,695 | ▲ 17.2% |
| Deferred charges and accrued income490/1 | - | - | €7,991 | €1,707 | €1,982 | ▲ 16.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €95,211 | €179,761 | €189,280 | €196,592 | €193,574 | ▼ 1.5% |
| Equity10/15 | €18,670 | €68,149 | €88,338 | €104,826 | €91,886 | ▼ 12.3% |
| Contributions10/11 | - | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Profit (loss) carried forward14 | €8,670 | €58,149 | €78,338 | €94,826 | €81,886 | ▼ 13.6% |
| Amounts payable17/49 | €76,541 | €111,612 | €100,942 | €91,766 | €101,689 | ▲ 10.8% |
| Amounts payable after more than one year17 | €5,834 | €1,167 | - | - | - | - |
| Financial debts170/4 | - | €1,167 | - | - | - | - |
| Amounts payable within one year42/48 | €58,758 | €101,495 | €99,702 | €91,766 | €101,689 | ▲ 10.8% |
| Current portion of amounts payable after more than one year42 | - | €4,667 | €1,167 | - | - | - |
| Trade debts44 | €7,002 | €30,128 | €44,846 | €39,965 | €20,791 | ▼ 48.0% |
| Suppliers440/4 | - | €30,128 | €44,846 | €39,965 | €20,791 | ▼ 48.0% |
| Advances received on contracts in progress46 | - | - | - | €11,475 | €13,943 | ▲ 21.5% |
| Taxes, remuneration and social security45 | - | €31,639 | €38,399 | €37,553 | €66,955 | ▲ 78.3% |
| Taxes450/3 | - | €21,652 | €20,488 | €20,806 | €49,394 | ▲ 137% |
| Remuneration and social security454/9 | - | €9,986 | €17,911 | €16,746 | €17,561 | ▲ 4.9% |
| Other amounts payable47/48 | - | €35,062 | €15,290 | €2,772 | - | - |
| Accrued charges and deferred income492/3 | - | €8,950 | €1,240 | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €8,670 | €49,479 | €20,189 | €30,117 | €39,507 | ▲ 31.2% |
| + Depreciation and write-downs630 | €4,761 | €13,412 | €13,609 | €10,510 | €13,758 | ▲ 30.9% |
| Operating cash flow (approximation) | €13,431 | €62,891 | €33,798 | €40,627 | €53,265 | ▲ 31.1% |
| Investment in fixed assets (approximation) | - | -€29,558 | -€10,183 | -€1,651 | €0 | ▲ 100% |
| Change in cash | - | €67,545 | -€20,676 | €31,332 | €17,824 | ▼ 43.1% |
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
2025
14-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 75 days late
2024
17-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 48 days late
2023
31-12
Financial
Equity above €100,000Eq €104,826 ▲18.7%
4 profitable years in a row build equity to €104,826.
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 29 days late
2022
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
31-12
Financial
Highest result since 2020net €49,479 ▲471%
Net result €49,479, the highest in the series.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
No directors read yet: 0 of 5 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Charleroi · 1 establishment unit since 2020
Ground area
273 m²
Building footprint
71 m²
Volume, LiDAR
432 m³
Parcel 52014B0452/00M007, Wallonia · tallest building 9.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
La Véranda Couillet
since 20202.300.433.885
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52014B0452/00M007indicative | Wallonia | 273 m² | 1 · 71 m² | 9.4 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
0 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
1 siteCharleroi2.300.433.885
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Of 21,835 companies in this sector we hold annual accounts for 9,777. 7,923 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPrivate limited company
Founded20-12-2019
Fiscal year end31-12
Activities, NACEBEL 2025
56111Full-service restaurants
56112Limited-service restaurants, excluding mobile food services
Contact
E-mail
laverandacouillet@gmail.com
Phone
0498/993194
E-invoicing
Reachable via Peppol
Peppol ID
0208:0739872250
Registered
13-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.