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MASREK

Active
Private limited companyfounded 20242 yrs activeBrusselstraat 51, 2018 Antwerpen, BelgiumKBO/BCE: BE 1007.721.914
Summary

The computed 12-month bankruptcy probability of MASREK is 2.3% (moderate). The 2025 annual accounts show equity of €40,112 and a net result of €20,112. Its solvency ranks better than 32% of 28184 sector peers (fiscal year 2025). The company has been active since 2024 and the Belgian State Gazette contains no insolvency or warning signals.

Checked score

Score 2025
Axes
Profitability88
Solvency56
Growth-
Track record67
Bankruptcy probability, 12 months
2.3% Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000 at 30 days acceptable
Liquidity ample (current ratio 1.68; short-term debt: 57.1% and cash: 0.1% of total assets), but 69.1% of the assets are financed with debt.
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Signals

Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Young company
A young company has little track record yet and statistically fails more often than an established one.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 2 years 0 10 y
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← 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 2025
Solvency, return and age of the figures
Solvency
30.9%
Return on assets
15.5%
Age of the figures
9 mo
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 22-06-2026, 39 days ahead of the deadline.
NBB · 1 filing
Deviation from the deadline
2025
39 d early
← before the deadline after the deadline →
Checked, nothing found (1)
neutral · 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

History

On 28 March 2024, MASREK was incorporated as a Private limited company.1 The company has filed annual accounts once, for fiscal year 2025.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2025

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Financials · fiscal year 2025, micro schema

Equity
€40,112
Total assets
€129,777
Net result
€20,112
Working capital
€50,278

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

Balance-sheet composition
Assets €129,777
Fixed assets €5,361
Current assets €124,416
Equity and liabilities €129,777
Equity €40,112
Debt €89,666
Debt finances 69.1% of the balance-sheet total.
Key figures and ratios
2025 value
EBITDA
€32,039
Cash flow
€22,581
Current ratio
1.68
Debt to equity
2.24
ROE
50.1%
ROA
15.5%
Interest coverage
13.94
Debt ≤ 1 year
€74,138
Debt > 1 year
€15,527
Income taxes
€10,000
Staff costs
€76,391

Peer companies

Historical observation

Of the 39,275 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 96% are still going.

  • Micro
  • 2 to 5 years old
  • solvency 30% or more
  • a profit of 5% of the balance sheet or more
1.6% went bankrupt
2.2% stopped otherwise
96% still going

A further 0.4% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a higher bankruptcy probability: 2.3% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.

The companies in ten equal groups, from lowest to highest expected share.
Group Expected Actual
1 0.2% 0.2%
2 0.3% 0.4%
3 0.5% 0.5%
4 0.6% 0.7%
5 0.8% 0.9%
6 1.2% 1.3%
7 1.5% 1.6%
8 1.7% 1.7%
9 2.7% 2.8%
10 5.3% 5.7%

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 39,275 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
Filed annual accounts As filed with the NBB · 2025 · 39 lines
Balance sheet Code2025
Assets
Total assets20/58€129,777
Fixed assets21/28€5,361
Tangible fixed assets22/27€4,938
Furniture and vehicles24€4,938
Financial fixed assets28€423
Current assets29/58€124,416
Amounts receivable within one year40/41€124,304
Trade receivables40€40,265
Other amounts receivable41€84,039
Cash at bank and in hand54/58€112
Equity and liabilities
Total equity and liabilities10/49€129,777
Equity10/15€40,112
Contributions10/11€20,000
Profit (loss) carried forward14€20,112
Amounts payable17/49€89,666
Amounts payable after more than one year17€15,527
Financial debts170/4€15,527
Amounts payable within one year42/48€74,138
Current portion of amounts payable after more than one year42€5,944
Trade debts44€45,442
Suppliers440/4€45,442
Taxes, remuneration and social security45€21,252
Taxes450/3€10,000
Remuneration and social security454/9€11,252
Other amounts payable47/48€1,500
Income statement Code2025
Remuneration, social security and pensions62€76,391
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2,470
Other operating charges640/8€6,236
Gross operating margin9900€114,667
Operating profit (loss)9901€29,570
Financial income75/76B€2,840
Recurring financial income75€2,840
Financial charges65/66B€2,298
Recurring financial charges65€2,298
Profit (loss) for the period before taxes9903€30,112
Income taxes67/77€10,000
Profit (loss) for the period9904€20,112
Profit (loss) for the period to be appropriated9905€20,112
Appropriation of the result
Profit (loss) to be appropriated9906€20,112

The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line2025
Remuneration, social security and pensions62€76,391
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2,470
Other operating charges640/8€6,236
Gross operating margin9900€114,667
Operating profit (loss)9901€29,570
Financial income75/76B€2,840
Recurring financial income75€2,840
Financial charges65/66B€2,298
Recurring financial charges65€2,298
Profit (loss) for the period before taxes9903€30,112
Income taxes67/77€10,000
Profit (loss) for the period9904€20,112
Profit (loss) for the period to be appropriated9905€20,112
Line2025
Assets
Total assets20/58€129,777
Fixed assets21/28€5,361
Tangible fixed assets22/27€4,938
Furniture and vehicles24€4,938
Financial fixed assets28€423
Current assets29/58€124,416
Amounts receivable within one year40/41€124,304
Trade receivables40€40,265
Other amounts receivable41€84,039
Cash at bank and in hand54/58€112
Equity and liabilities
Total equity and liabilities10/49€129,777
Equity10/15€40,112
Contributions10/11€20,000
Profit (loss) carried forward14€20,112
Amounts payable17/49€89,666
Amounts payable after more than one year17€15,527
Financial debts170/4€15,527
Amounts payable within one year42/48€74,138
Current portion of amounts payable after more than one year42€5,944
Trade debts44€45,442
Suppliers440/4€45,442
Taxes, remuneration and social security45€21,252
Taxes450/3€10,000
Remuneration and social security454/9€11,252
Other amounts payable47/48€1,500
Line2025
Profit (loss) for the period9904€20,112
+ Depreciation and write-downs630€2,470
Operating cash flow (approximation)€22,581

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

2026
22-06
NBB filing Annual accounts filed
fiscal year 2025 · micro schema
NBB filing
0 of 4 acts read
About the unread acts

We know of 4 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
4 acts for this company are 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, Antwerpen · 1 establishment unit since 2024
seat establishment The establishment unit on the map
Ground area
261 m²
Building footprint
261 m²
Volume, LiDAR
4,112 m³
Parcel 11811L3838/00N000, Flanders · tallest building 22.5 m, ±6 floors. Linked by address, not a title deed.
236 companies at this address See who is registered here
1 establishment unit
MASREK
Brusselstraat 51, 2018 AntwerpenConstruction of roads and motorways
since 20242.358.033.970
1 parcel
Flanders 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
11811L3838/00N000 Flanders 261 m² 1 · 261 m² 22.5 m · 6 fl.
Linked by address, not proof of ownership
Good to know
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

Recognised contractor

2 categories
MASREK BV43817
category C2, class 1 · category P1, class 1
decision 13-05-2024

Similar companies · same sector, comparable size

Of 22,831 companies in sector 43211 we hold annual accounts for 10,329. 8,337 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector

Identification & contact

Identification
Legal formPrivate limited company
Founded28-03-2024
Fiscal year end31-12
Activities, NACEBEL 2025
43211General electrical installation work
42110Construction of roads and motorways
42220Construction of utility projects for electricity and telecommunications
43212Electrical installation work in industrial facilities
43221Plumbing work
49410Freight transport by road
E-invoicing
Reachable via Peppol
Peppol ID 0208:1007721914
Also 9925:BE1007721914
Registered 27-11-2025

Register as of 27 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.