Result
€59,730 €59,730
Back in profit in 2025, after a loss of €32,668 in 2024.
MASEMAR
Lifetime
19 annual accounts with figures on one time axis, 27 filings since 1999peak €240,655 (2018)
€72,572▲ €94,739
lowest -€129,826 (2023)
€59,730▲ €92,398
peak €352,518 (2022)
€249,753▲ 31.4%
€448,923▼ 39.4%
peak 3 FTE (2012)
-not published
Board3 names since 1998
3 directorsMarc Demeulenaere and 2 others
Documentsfilings and deeds
04-05-20264 days late
2025micro format
Gross margin from -€22,167 to €72,572Back to profit: €59,730Registered office moved from Roeselare to Heuvelland 15-09Equity from €190,023 to €249,753Debts from €741,088 to €448,923Cash from €77,686 to €16,077
Key points
from the 2025 annual accountsInvestments
€9,024 76.0 × depreciation
Green is investment, beige is depreciation.
Filings
27 annual accounts since 1999
Four of the last ten came late. The 2024 accounts came latest: 8 days after the end of the period.
Checked score
86
Excellent
Financially stronger than 57% of micro companies in real estate (NACE 68)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.3% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 26,626 companies (NACE 68, micro).
About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.6%
01-2025: 0.6%● unchanged vs 12-2024
02-2025: 0.6%● unchanged vs 01-2025
03-2025: 0.6%● unchanged vs 02-2025
04-2025: 0.8%▲ +0.2 percentage points vs 03-2025
05-2025: 1.0%▲ +0.2 percentage points vs 04-2025
06-2025: 0.3%▼ -0.7 percentage points vs 05-2025
07-2025: 0.3%● unchanged vs 06-2025
08-2025: 0.3%● unchanged vs 07-2025
09-2025: 0.3%● unchanged vs 08-2025
10-2025: 1.5%▲ +1.2 percentage points vs 09-2025highest value
11-2025: 0.3%▼ -1.2 percentage points vs 10-2025lowest value
12-2025: 0.3%● unchanged vs 11-2025lowest value
01-2026: 0.3%● unchanged vs 12-2025
02-2026: 0.4%▲ +0.1 percentage points vs 01-2026
03-2026: 0.3%▼ -0.1 percentage points vs 02-2026
04-2026: 0.4%▲ +0.1 percentage points vs 03-2026
05-2026: 0.7%▲ +0.3 percentage points vs 04-2026
06-2026: 0.3%▼ -0.4 percentage points vs 05-2026
07-2026: 0.3%● unchanged vs 06-2026
08-2026: 0.3%● unchanged vs 07-2026
09-2026: 0.3%● unchanged vs 08-2026
10-2026: 0.3%● unchanged vs 09-2026
11-2026: 0.3%● unchanged vs 10-2026
Financial strengthAverage
Score breakdown
raises risk
1 change of registered office in 24 months
Liquidity: current ratio 1.55, cash €16,077, halved
lowers risk
Size: total assets €698,676
Figures for financial year 2025 (filed on 06-05-2026)
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, micro). It does better than 54% of them on solvency, 16% on liquidity, 76% on profitability and 81% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 30-09-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 20,137 companies had the same profile as MASEMAR has now. Each dot stands for 51 companies, two years later.
95.1%
were still trading
4.7%
stopped another way
0.2%
went bankrupt
That fits the bankruptcy probability of MASEMAR itself: 0.3% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 20,137 companies, not a prediction for MASEMAR. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €21,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 1.55 (1.28 in 2024), above the usual 1.5. Short-term debt is 63.7% and cash 2.3% of total assets. However, 64.3% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises risk
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year €249,753
raises risk · 2025 accounts filed 4 days late
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 04-05-2026, 4 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
4 days late
2024
8 days late
2023
on the day
2022
2 days late
2021
2 days late
2020
22 days early
2019
85 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 13 days before the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The financial year that closed on 30-09-2026 is due by 30-04-2027. Nothing is late today. The company usually files around 2 May (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
30-09-2026 year end10-11-2026 today30-04-2027 deadline
Recent changes
Registered office moved from Roeselare to Heuvelland
New registered office: Kruisabelestraat 22, 8951 Heuvelland · Previous registered office: Monica Vancloosterstraat 50, 8800 Roeselare · Board meeting of 19-08-2025 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0464700076
Registered office moved within Roeselare
New registered office: Monica Vancloosterstraat 50, 8800 ROESELARE · Previous registered office: Rumbeeksesteenweg 479 bus 32, 8800 ROESELARE · Gazette deed
Publication in the Belgian Official Gazette
Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| MASEMAR Heuvelland | €698,676 | €72,572 | 35.7% | - |
| KNOKS MOTORENBEDRIJF Knokke-Heist | €832,416 | €69,297 | 47.2% | - |
| PN CREATIONS Lokeren | €635,071 | €68,041 | 90.8% | - |
| BABOUHOT Walhain | €654,472 | €61,683 | 8.5% | - |
| MALL'S IMMO Leopoldsburg | €647,600 | €80,622 | 91.2% | - |
| Univers City Jemeppe-sur-Sambre | €558,452 | €75,025 | 54.4% | - |
| IMMO SERGE PRODUCTION Enghien | €712,312 | €54,495 | 92.0% | - |
These companies have the same main activity as MASEMAR: buying and selling of own real estate (NACE 68110). They are comparable in size and age: total assets between €558,000 and €832,000, founded between 1996 and 2002.
Official details
Source: KBO- Status
- Active since 30-11-1998Normal situation
- Activity
- Buying and selling of own real estateNACE 68110and 2 others
- Establishment unit
- 2.089.815.0158800 Roeselare, since 29-12-1998
- Financial year end
- 30 September
- Peppol
- Reachable since 02-09-2025
Annual accounts to 30-09-2025
- ≈ €190,000estimated
- €698,676▼ 25.0%
- Filing
- Filed on 04-05-2026
Insights on MASEMAR
MASEMAR files the micro format. That format states no turnover. The gross margin fell from €148,323 in 2007 to €72,572 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about MASEMAR
- What is the company number of MASEMAR?
- The company number of MASEMAR is 0464.700.076. The VAT number is the same number with BE in front: BE 0464.700.076.
- Where is MASEMAR based?
- The registered office is at Kruisabelestraat 22, 8951 Heuvelland.Company details
- What does MASEMAR do?
- According to the KBO register, the main activity is buying and selling of own real estate (NACE 68110).
- What is the legal form of MASEMAR?
- MASEMAR is a private limited company (BV).
- When was MASEMAR founded?
- MASEMAR was founded on 30-11-1998.
- Is MASEMAR still active?
- Yes, MASEMAR is an active enterprise in the KBO register.
- What is the turnover of MASEMAR?
- The turnover in financial year 2025 is ≈ €190,000. This figure is estimated from the gross margin of €72,572 and 48 comparable companies (NACE 681). It probably lies between €98,000 and €450,000.Financials
- Is MASEMAR profitable?
- In financial year 2025, MASEMAR made a profit of €59,730.
- Where can I find the annual accounts of MASEMAR?
- MASEMAR filed 27 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of MASEMAR due?
- MASEMAR must file the annual accounts for financial year 2026 by 30-04-2027.Timeline
Next steps
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