MASDAC
ActiveMASDAC has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €119k and a net result of €90k. Equity is growing by ~42.5% per year across the filed fiscal years. Its solvency ranks better than 71% of 13977 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
77
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100=
Solvency83▼-17
Growth78=
Track record94
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €9k at 30 days acceptable
Liquidity ample (current ratio 2.32 against 11.11 in 2024; short-term debt: 41.8% and cash: 25.4% of total assets), and 41.8% 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 · 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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Sector 68
lower
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
58.2%
Return on assets
43.9%
Age of the figures
12 mo
neutral · Filed after the deadline
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 26-05-2026, 26 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 · 4 filingsDeviation from the deadline
2025
26 d late
2024
on the day
2023
22 d late
2022
17 d late
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
19-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€119k▼ 29.5%
2024 · €169k
2022: €16k
2023: €56k
2024: €169k
2022 → 2025
Total assets
€205k▲ 10.1%
2024 · €186k
2022: €29k
2023: €76k
2024: €186k
2022 → 2025
Net result
€90k▼ 20.8%
2024 · €114k
2022: €3k
2023: €40k
2024: €114k
2022 → 2025
Working capital
€113k▼ 32.9%
2024 · €169k
2022: €15k
2023: €55k
2024: €169k
2022 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2022202320242025Trend
Equity€16k-€56k▲ 253%€169k▲ 204%€119k▼ 29.5%
Operating result€6k-€54k▲ 789%€146k▲ 172%€124k▼ 15.2%
Net result€3k-€40k▲ 1,104%€114k▲ 184%€90k▼ 20.8%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 15% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €205k
Fixed assets
€6k▲ 790%
Current assets
€199k▲ 7.3%
Equity and liabilities €205k
Equity
€119k▼ 29.5%
Debt
€86k▲ 413%
The debt ratio rises from 9.0% to 41.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€125k
Cash flow
€91k
Solvency
58.2%▼
2024 · 91.0%
Current ratio
2.32▼
2024 · 11.11
Quick ratio
2.32▼
2024 · 11.11
Debt / equity
0.72▲
2024 · 0.10
ROE
75.4%▲
2024 · 67.1%
ROA
43.9%▼
2024 · 61.0%
Interest coverage
72.89
Debt
€86k▲
2024 · €17k
Debt ≤ 1 year
€86k▲
2024 · €17k
Income taxes
€32k▲
2024 · €31k
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 · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€186k€205k▲
Fixed assets21/28€683€6k▲
Tangible fixed assets22/27-€5k
Plant, machinery and equipment23-€957
Other tangible fixed assets26-€4k
Financial fixed assets28€683€683=
Current assets29/58€185k€199k▲
Amounts receivable within one year40/41€129k€94k▼
Trade receivables40€108k€90k▼
Other amounts receivable41€21k€4k▼
Current investments50/53€8k€52k▲
Cash at bank and in hand54/58€48k€52k▲
Deferred charges and accrued income490/1-€791
Equity and liabilities
Total equity and liabilities10/49€186k€205k▲
Equity10/15€169k€119k▼
Contributions10/11€13k€13k=
Reserves13€1k€1k=
Non-distributable reserves130/1€1k€1k=
Reserves not available under the articles1311€1k€1k=
Profit (loss) carried forward14€156k€106k▼
Amounts payable17/49€17k€86k▲
Amounts payable within one year42/48€17k€86k▲
Trade debts44€2k€4k▲
Suppliers440/4€2k€4k▲
Taxes, remuneration and social security45€15k-
Taxes450/3€10k-
Remuneration and social security454/9€5k-
Other amounts payable47/48€250€82k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630-€687
Other operating charges640/8€5k€5k▲
Gross operating margin9900€151k€130k▼
Operating profit (loss)9901€146k€124k▼
Financial income75/76B-€0
Recurring financial income75-€0
Financial charges65/66B€2k€2k▼
Recurring financial charges65€2k€2k▼
Profit (loss) for the period before taxes9903€144k€122k▼
Income taxes67/77€31k€32k▲
Profit (loss) for the period9904€114k€90k▼
Profit (loss) for the period to be appropriated9905€114k€90k▼
Appropriation of the result
Profit (loss) to be appropriated9906€156k€246k▲
Profit (loss) brought forward from the previous period14P€42k€156k▲
Profit to be distributed694/7-€140k
Return on contributions (dividend)694-€140k
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
26-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 26 days late
2025
30-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-09
Financial
Highest result since 2022net €114k ▲184%
Operating result €146k, net result €114k, both a record.
30-09
Financial
Liquidity triplescurrent ratio 11.11
Current ratio from 3.72 to 11.11; short-term debt falls from €20k to €17k.
30-09
Financial
Equity above €150kEq €169k ▲204%
3 profitable years in a row build equity to €169k.
22-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 22 days late
2023
17-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 17 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 act for this company is 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, Brussel · 1 establishment unit since 2022
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.
Rode Kruislaan 611020 BrusselGround area
656 m²
Building footprint
157 m²
Volume, LiDAR
1,291 m³
Parcel 21818A0188/00M000, Brussels · tallest building 11.5 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
MASDAC
since 20222.332.393.803
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21818A0188/00M000 | Brussels | 656 m² | 1 · 157 m² | 11.5 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 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
Legal Entity Identifier
984500679A00V8A5EF83
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Of 7,322 companies in sector 68110 we hold annual accounts for 5,382. 3,772 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded20-05-2022
Fiscal year end30-09
Activities, NACEBEL
68110Buying and selling of own real estate
68201Renting and operating of own or leased residential real estate, excluding social housing
68203Renting and operating of own or leased non-residential real estate, excluding land
70100Activities of head offices
70210Activities of head offices; management consultancy activities
73300Public relations and communication consultancy
82990Other business support services
Sources
Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers
Data from official sources, last processed on 18-09-2026. Scores and ratios are computed by Checked and are not a credit decision.