Financials
- Financial year
- 2025
- Total assets
- €28,644
- Loss
- -€293,228
- Solvency
- -6752.7%
Total assets▼ 90.9%
Net result
20182025
MASAÎ GALLERY
Judicial reorganisationSummary
The file of MASAÎ GALLERY contains 2 judicial reorganisation notices, as published in the Belgian Official Gazette. During the judicial reorganisation Checked does not compute a bankruptcy probability from the figures: of the Belgian companies that opened one in 2023 and 2024, about one in four went bankrupt within twelve months. The 2025 annual accounts show negative equity (-€1.9m) and a net result of -€293,228. Equity is shrinking by about 9.1% per year across the filed financial years. Its solvency ranks better than 5% of 12,578 sector peers (NACE 47, financial year 2025).
Are you a creditor?
Judicial reorganisation
Source: Belgian Official Gazette
Your claim still exists, but while the moratorium runs you cannot enforce it. What you do now depends on the track of the reorganisation.
The procedure
- Court
- Enterprise Court of Liège
- Opened
- 29 June 2021
- Track
- Reorganisation by collective agreement
- Docket number
- 20210027
- Moratorium until
- 29 May 2022 (passed; an extension would be in a later judgment)
- Creditors' vote
- 17 May 2022
- Delegated judge
- Patricia Bourdoux
- Official Gazette
- 05-07-2021 (pdf) ↗search the document for 2021/125580
What to do now
- Do not attach assets or start enforcement for debts from before the opening while the moratorium runs.
- Check the amount the company lists you for: it has to tell you. If it is wrong, dispute it in writing.
- The company files a reorganisation plan and creditors vote on it at a hearing. A plan approved and confirmed by the court also binds those who voted against.
- What you deliver after the opening is not covered by the moratorium: agree clear payment terms.
- The file is in RegSol, where you can read the documents of the procedure.
Deadlines: the judgment sets how long the moratorium runs. That date is in RegSol and in the publication in the Official Gazette. The date of the vote on the plan is in the judgment and in RegSol.
View the file in RegSol ↗
Follow
Follow this reorganisation: you are alerted to an extension, the court's approval, the closure or a bankruptcy.
General information, not legal advice. If in doubt, your lawyer or your accountant can help.Creditor guide for this company
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Overview
Activity
Retail sale of solid, liquid and gaseous fuels, excluding motor fuels
NACE 47781
1 site
Size
€28,644total assets 2025
- Equity
- -€1.9m
- Loss
- -€293,228
Turnover not published (abbreviated or micro format)Net result -5,461%: other schema
Financial health
1
Critical
Checked score 2025Reorganisation running: about 1 in 4 bankrupt within the year
Structure
Accounts 32 days early0 of 7 deeds read
Signalsraises riskNegative equityIn judicial reorganisationneutralLatest accounts filed on timeShow the evidence
Checked score
Score 2025
1
/ 100
Critical
Without a bankruptcy probability: score from the figures alone
Financial strength · tick = 2024
Weak
Solvency
0=
equity -6752.7% of total assets
Liquidity
3+3
short-term debt 6852.7% · cash 2.3%
Profitability
0-17
return on assets -1023.7%
Bankruptcy probability, 12 months
Judicial reorganisation
About 1 in 4 comparable companies went bankrupt within the year
A judicial reorganisation is open: we then compute no probability from the figures. Measured over every Belgian company in an open or failed reorganisation: 25% to 26% bankrupt within twelve months (2024 and 2025).
No credit on open account during an ongoing judicial reorganisation
Liquidity insufficient (current ratio 0.01, compared with 0.16 in 2024, below 1; cash: 2.3% of total assets), and equity is negative.
Signals
Three signals.
raises riskneutral
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 -€1.9m
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 29-06-2026, 32 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
32 days early
2024
on the day
2023
on the day
2022
30 days late
2021
30 days late
2020
4 days early
2019
91 days late
← 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 16 days after the deadline; the sector median (NACE 47) for financial year 2024 is on the deadline day, and 47% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 1 August (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsWhere today falls in the filing period
19-10-2026 today31-12-2026 year end31-07-2027 deadline
- Annual accounts filedfinancial year 2025 · abbreviated…
- Annual accounts filedfinancial year 2024 · micro…
- Annual accounts filedfinancial year 2023 · micro…
Key points
- Risk: In judicial reorganisationtrustee not known 29-06-2021 View
- Risk: Negative equityfinancial year 2025: debts exceed assets -€1.9m View
- Risk: 4 loss-making years in a rowloss financial year 2025 -€293,228 View
- Caution: Result fell in 2025different schema filed ▼ 5,461% View
- Caution: Among the weakest 5% on solvencysector median 36.7% · 12,578 companies -6752.7% View
By topic
Timeline
- Events
- 20
- Since
- 2011
- Next accounts
- by 31-07-2027
- 30-08-2023Annual accounts filed
- 30-08-2022Annual accounts filed
- 31-12-2021Back to profit
Company details
- Sites
- 1
- Legal form
- Public limited company
- Activity
- Retail sale of solid, liquid and gaseous fuels…NACE 47781
- Founded
- 18-06-2009
- Year ends
- 31-12
- Peppol
- Reachable for e-invoices
Go further with this company
What should you check before you do business with this company?Supplier due diligence What were this company's board, registered office and name on a given date?Company as of a date Is the registered address a letterbox address or a business centre?Addresses Are there other customers at risk in your own list?Process a list How is the retail sale of solid, liquid and gaseous fuels, excluding motor fuels sector doing?Sector figures
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