MASAL GROUP

Active

Private limited companyfounded 20223 yrs activeOude Haachtsesteenweg 59, 1831 Machelen (Brab.), BelgiumKBO/BCE: BE 0791.289.475

The computed 12-month bankruptcy probability of MASAL GROUP is 3.2% (moderate). The 2023 annual accounts show equity of €122k and a net result of €121k. Its solvency ranks better than 60% of 24647 sector peers (fiscal year 2023). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.

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Checked score

Score 2023

81 / 100

Excellent

The score combines four axes. Every signal that weighs is under Signals.

Axes

Profitability100

Solvency74

Growth-

Stability79

Bankruptcy probability, 12 months

3.2% Moderate

0%0.5%1.5%4%10%≥ 25%

Credit up to €10k at 30 days only on tighter terms

Liquidity tight (current ratio 1.37), and 56.9% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Six signals. The signal on the left, the evidence on the right.

+raises risk○neutral

Limited track record

This company has not been active as long as an established one and statistically fails somewhat more often.

KBO · incorporation date

Age against the risk zone

Multiple establishment units

Several establishment units mean more fixed costs, and such companies fail more often than a company with one establishment.

KBO · establishment units

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 2023

Solvency, return and age of the figures

Solvency

43.1%

Return on assets

42.7%

Age of the figures

32 mo

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 42

Relative position

BE, all sectors

reference

Sector 42

higher

← fewer bankruptcies more bankruptcies →

Filed more than 90 days late

The financial year that closed on 31-12-2023 was due by 31-07-2024 and was filed on 13-12-2024, 135 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.

NBB · 1 filing

Deviation from the deadline

2023

135 d late

← before the deadline after the deadline →

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2023, micro schema

Equity

€122k

Total assets

€282k

Net result

€121k

Working capital

€60k

Turnover and EBIT margin not published: the micro schema does not require them.

Balance-sheet composition

Assets €282k

21.9%

78.1%

Fixed assets €62k

Current assets €220k

Equity and liabilities €282k

43.1%

56.9%

Equity €122k

Debt €161k

Debt finances 56.9% of the balance-sheet total.

Key figures and ratios

2023 value

EBITDA

€166k

Cash flow

€130k

Solvency

43.1%

Current ratio

1.37

Quick ratio

1.37

Debt / equity

1.32

ROE

99.2%

ROA

42.7%

Interest coverage

1316.78

Debt

€161k

Debt ≤ 1 year

€161k

Income taxes

€36k

Staff costs

€143k

Filed annual accounts

As filed with the NBB · 2023

Balance sheet Code2023

Assets

Total assets20/58€282k

Fixed assets21/28€62k

Tangible fixed assets22/27€62k

Furniture and vehicles24€62k

Financial fixed assets28€200

Current assets29/58€220k

Amounts receivable within one year40/41€217k

Trade receivables40€215k

Other amounts receivable41€2k

Cash at bank and in hand54/58€3k

Equity and liabilities

Total equity and liabilities10/49€282k

Equity10/15€122k

Contributions10/11€1k

Profit (loss) carried forward14€121k

Amounts payable17/49€161k

Amounts payable within one year42/48€161k

Trade debts44€86k

Suppliers440/4€86k

Taxes, remuneration and social security45€67k

Taxes450/3€49k

Remuneration and social security454/9€18k

Other amounts payable47/48€8k

Income statement Code2023

Remuneration, social security and pensions62€143k

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€10k

Other operating charges640/8€2k

Gross operating margin9900€312k

Operating profit (loss)9901€157k

Financial charges65/66B€126

Recurring financial charges65€126

Profit (loss) for the period before taxes9903€157k

Income taxes67/77€36k

Profit (loss) for the period9904€121k

Profit (loss) for the period to be appropriated9905€121k

Appropriation of the result

Profit (loss) to be appropriated9906€121k

The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 1Filings 1

2024

13-12

NBB filing Annual accounts filed

fiscal year 2023 · micro schema · 135 days late

NBB filing

Directors · office · real estate

Directors

no sitting director, no change since 2025

We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.

09-05-2025 Ananiev Dimitar: Resigned as Director

09-05-2025 Ananieva SVETLA: Resigned as Director

10-02-2025 Sonay Asan: Resigned as Director

Location & real-estate footprint

Registered office, Machelen (Brab.) · 2 establishment units since 2022

establishment All 2 establishment units on the map

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.

Oude Haachtsesteenweg 591831 Machelen (Brab.)

Ground area

1,013 m²

Building footprint

687 m²

Volume, LiDAR

2,103 m³

3 parcels, Brussels, Flanders · tallest building 15.5 m, ±4 floors. Linked by address, not a title deed.

2 establishment units

MASAL GROUP

Maria-Christinastraat 82, 1020 BrusselGeneral electrical installation work

since 20222.336.935.282

MASAL GROUP

Masuistraat 87, 1000 BrusselConstruction of utility projects for electricity and telecommunications

since 20232.349.549.440

3 parcels

Flanders 1 (33.3%) Brussels 2 (66.7%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
23015C0111/00W000	Flanders	649 m²	1 · 329 m²	-
21813D0523/00S017	Brussels	301 m²	1 · 297 m²	12.9 m · 1 fl.
21815D0206/00Y004	Brussels	63 m²	1 · 62 m²	15.4 m · 4 fl.