MASSANA
ActiveMASSANA has been active since 1975 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €590k and a net result of €21k. Equity is growing by ~3.2% per year across the filed fiscal years. Its solvency ranks better than 53% of 13977 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
66
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability70▲+4
Solvency58▲+2
Growth52=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €35k at 30 days acceptable
Liquidity short (current ratio 0.25 against 0.24 in 2024; short-term debt: 55.4% and cash: 2.7% of total assets), and 66.6% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
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
33.4%
Return on assets
1.2%
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 20-07-2026, 11 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
11 d early
2024
6 d early
2023
34 d early
2022
8 d early
2021
10 d early
2020
135 d late
2019
122 d late
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
18-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€590k▲ 3.7%
2024 · €569k
2018: €462k
2019: €495k
2020: €509k
2021: €508k
2022: €525k
2023: €559k
2024: €569k
2018 → 2025
Total assets
€1.76M▼ 4.4%
2024 · €1.85M
2018: €2.24M
2019: €2.20M
2020: €2.14M
2021: €2.02M
2022: €1.95M
2023: €1.91M
2024: €1.85M
2018 → 2025
Net result
€21k▲ 105%
2024 · €10k
2018: €62k
2019: €34k
2020: €14k
2021: €-912
2022: €17k
2023: €33k
2024: €10k
2018 → 2025
Working capital
€-737k▲ 1.1%
2024 · €-745k
2018: €-802k
2019: €-774k
2020: €-768k
2021: €-780k
2022: €-791k
2023: €-759k
2024: €-745k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€508k-€525k▲ 3.3%€559k▲ 6.4%€569k▲ 1.8%€590k▲ 3.7%
Operating result€24k-€47k▲ 94.1%€74k▲ 58.2%€43k▼ 41.7%€54k▲ 25.8%
Net result€-912-€17k€33k▲ 96.2%€10k▼ 69.6%€21k▲ 105%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 26% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.76M
Fixed assets
€1.52M▼ 5.1%
Current assets
€241k▲ 0.3%
Equity and liabilities €1.76M
Equity
€590k▲ 3.7%
Debt
€1.17M▼ 8.0%
The debt ratio falls from 69.2% to 66.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€136k▲
2024 · €124k
Cash flow
€102k▲
2024 · €91k
Solvency
33.4%▲
2024 · 30.8%
Current ratio
0.25▲
2024 · 0.24
Quick ratio
0.25▲
2024 · 0.24
Debt / equity
1.99▼
2024 · 2.24
ROE
3.5%▲
2024 · 1.8%
ROA
1.2%▲
2024 · 0.6%
Interest coverage
6.86▲
2024 · 5.53
Debt
€1.17M▼
2024 · €1.28M
Debt ≤ 1 year
€977k▼
2024 · €985k
Debt > 1 year
€196k▼
2024 · €290k
Income taxes
€14k▲
2024 · €11k
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€1.85M€1.76M▼
Fixed assets21/28€1.61M€1.52M▼
Tangible fixed assets22/27€1.61M€1.52M▼
Land and buildings22€1.61M€1.52M▼
Current assets29/58€240k€241k▲
Amounts receivable after more than one year29€75k€75k=
Other amounts receivable291€75k€75k=
Amounts receivable within one year40/41€9k€118k▲
Trade receivables40-€4k
Other amounts receivable41€9k€114k▲
Current investments50/53€100k-
Cash at bank and in hand54/58€55k€48k▼
Deferred charges and accrued income490/1€664€122▼
Equity and liabilities
Total equity and liabilities10/49€1.85M€1.76M▼
Equity10/15€569k€590k▲
Contributions10/11€19k€19k=
Revaluation surpluses12€409k€386k▼
Reserves13€138k€161k▲
Distributable reserves133€138k€161k▲
Profit (loss) carried forward14€3k€24k▲
Amounts payable17/49€1.28M€1.17M▼
Amounts payable after more than one year17€290k€196k▼
Financial debts170/4€269k€175k▼
Other amounts payable178/9€22k€22k▲
Amounts payable within one year42/48€985k€977k▼
Current portion of amounts payable after more than one year42€90k€94k▲
Trade debts44€3k€2k▼
Suppliers440/4€3k€2k▼
Taxes, remuneration and social security45€11k€41▼
Taxes450/3€11k€41▼
Other amounts payable47/48€880k€881k=
Accrued charges and deferred income492/3€1k€971▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€81k€82k▲
Other operating charges640/8€10k€10k▲
Gross operating margin9900€134k€146k▲
Operating profit (loss)9901€43k€54k▲
Financial income75/76B€827€633▼
Recurring financial income75€827€633▼
Financial charges65/66B€22k€20k▼
Recurring financial charges65€22k€20k▼
Profit (loss) for the period before taxes9903€21k€35k▲
Income taxes67/77€11k€14k▲
Profit (loss) for the period9904€10k€21k▲
Profit (loss) for the period to be appropriated9905€10k€21k▲
Appropriation of the result
Profit (loss) to be appropriated9906€3k€24k▲
Profit (loss) brought forward from the previous period14P€-7k€3k▲
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
20-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
25-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
27-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
23-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €17k
Net result €17k after one loss-making year.
21-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Weakest financial yearnet €-912 ▼107%
Net result drops to €-912, the lowest in the series; recovery starts the following year.
13-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 135 days late
2020
31-12
Financial
Equity above €500kEq €509k ▲2.8%
3 profitable years in a row build equity to €509k.
30-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 122 days late
2019
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 28 days late
2018
27-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 27 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
7 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, Machelen (Brab.) · 1 establishment unit since 1975
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.
Lambroekstraat 51831 Machelen (Brab.)Ground area
1.2 ha
Building footprint
7,780 m²
Volume, LiDAR
173,550 m³
2 parcels, Flanders · tallest building 32.2 m, ±8 floors. Linked by address, not a title deed.
1 establishment unit
Woodrow Wilsonplein 16, 9000 Gent
since 19752.011.432.481
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44804D1960/00K000 | Flanders | 6,627 m² | 1 · 6,588 m² | 32.2 m · 8 fl. |
| 23015B0073/00A000 | Flanders | 5,496 m² | 1 · 1,193 m² | 18.1 m · 5 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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SENIOR IMMOB
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Raven Investment Real Estate
BE 0728.644.697
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GERMIJO
BE 0472.000.020
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Surmont Invest
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Of 9,134 companies in sector 68201 we hold annual accounts for 6,763. 5,002 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded05-09-1975
Fiscal year end31-12
Activities, NACEBEL
68201Renting and operating of own or leased residential real estate, excluding social housing
Sources
Crossroads Bank for EnterprisesNational Bank · 43 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.