MASSIMMO PROJECTS
ActiveSummary
MASSIMMO PROJECTS has been active since 1982 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.22M and a net result of €239k. Equity is growing by ~30% per year across the filed fiscal years. Its solvency ranks better than 54% of 9234 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability77▼-13
Solvency61▼-11
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €95k at 30 days acceptable
Liquidity ample (current ratio 2.45 against 2.48 in 2024; short-term debt: 33.3% and cash: 37.6% of total assets), but 64.3% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises 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
Real estate activities (NACE 68)
about 43% fewer 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 2025Solvency, return and age of the figures
Solvency
35.7%
Return on assets
7%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 09-08-2026, 9 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 · 10 filingsDeviation from the deadline
2025
9 d late
2024
on the day
2023
29 d late
2022
29 d late
2021
26 d late
2020
27 d late
2019
30 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€1.22M▲ 11.8%
2024 · €1.09M
2018: €223k
2019: €203k▼ -9.1% vs 2018lowest in 8 years
2020: €412k▲ +103% vs 2019
2021: €425k▲ +3.0% vs 2020
2022: €696k▲ +63.8% vs 2021
2023: €806k▲ +15.9% vs 2022
2024: €1.09M▲ +35.0% vs 2023
2025: €1.22M▲ +11.8% vs 2024highest in 8 years
2018 → 2025
Total assets
€3.41M▲ 47.7%
2024 · €2.31M
2018: €223klowest in 8 years
2019: €1.06M▲ +375% vs 2018
2020: €527k▼ -50.3% vs 2019
2021: €753k▲ +42.8% vs 2020
2022: €2.67M▲ +254% vs 2021
2023: €5.29M▲ +98.5% vs 2022highest in 8 years
2024: €2.31M▼ -56.4% vs 2023
2025: €3.41M▲ +47.7% vs 2024
2018 → 2025
Net result
€239k▼ 39.3%
2024 · €393k
2018: €-19k
2019: €-20k▼ -9.5% vs 2018lowest in 8 years
2020: €210k▲ +1128% vs 2019
2021: €13k▼ -94.0% vs 2020
2022: €319k▲ +2442% vs 2021
2023: €156k▼ -51.2% vs 2022
2024: €393k▲ +153% vs 2023highest in 8 years
2025: €239k▼ -39.3% vs 2024
2018 → 2025
Working capital
€1.65M▲ 30.6%
2024 · €1.26M
2018: €93k
2019: €-275k▼ -397% vs 2018lowest in 8 years
2020: €412k▲ +250% vs 2019
2021: €679k▲ +64.8% vs 2020
2022: €1.40M▲ +106% vs 2021
2023: €881k▼ -36.9% vs 2022
2024: €1.26M▲ +43.2% vs 2023
2025: €1.65M▲ +30.6% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€425k-€696k▲ 63.8%€806k▲ 15.9%€1.09M▲ 35.0%€1.22M▲ 11.8%
2021: €425klowest in 5 years
2022: €696k▲ +63.8% vs 2021
2023: €806k▲ +15.9% vs 2022
2024: €1.09M▲ +35.0% vs 2023
2025: €1.22M▲ +11.8% vs 2024highest in 5 years
Operating result€22k-€464k▲ 2,023%€291k▼ 37.3%€527k▲ 80.8%€306k▼ 41.9%
2021: €22klowest in 5 years
2022: €464k▲ +2023% vs 2021
2023: €291k▼ -37.3% vs 2022
2024: €527k▲ +80.8% vs 2023highest in 5 years
2025: €306k▼ -41.9% vs 2024
Net result€13k-€319k▲ 2,442%€156k▼ 51.2%€393k▲ 153%€239k▼ 39.3%
2021: €13klowest in 5 years
2022: €319k▲ +2442% vs 2021
2023: €156k▼ -51.2% vs 2022
2024: €393k▲ +153% vs 2023highest in 5 years
2025: €239k▼ -39.3% vs 2024
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 42% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.41M
Fixed assets
€626k ▲ 218%
Current assets
€2.78M ▲ 31.9%
Equity and liabilities €3.41M
Equity
€1.22M ▲ 11.8%
Debt
€2.19M ▲ 79.9%
Debt's share of the balance-sheet total rises from 52.8% to 64.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€343k▼
2024 · €558k
Cash flow
€275k▼
2024 · €424k
Current ratio
2.45▼
2024 · 2.48
Debt to equity
1.80▲
2024 · 1.12
ROE
19.6%▼
2024 · 36.1%
ROA
7.0%▼
2024 · 17.0%
Interest coverage
773.16▲
2024 · 60.89
Debt ≤ 1 year
€1.14M▲
2024 · €850k
Income taxes
€92k▼
2024 · €144k
Staff costs
€291k▲
2024 · €282k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 54 lines
Balance sheet
Code20242025
Assets
Total assets20/58€2.31M€3.41M▲
Fixed assets21/28€197k€626k▲
Tangible fixed assets22/27€197k€178k▼
Plant, machinery and equipment23€152k€141k▼
Furniture and vehicles24€45k€36k▼
Financial fixed assets28€152€448k▲
Current assets29/58€2.11M€2.78M▲
Amounts receivable after more than one year29€153k€152k▼
Trade receivables290€153k€152k▼
Amounts receivable within one year40/41€242k€685k▲
Trade receivables40€44k€238k▲
Other amounts receivable41€197k€447k▲
Current investments50/53€500k€500k=
Cash at bank and in hand54/58€1.00M€1.28M▲
Deferred charges and accrued income490/1€217k€167k▼
Equity and liabilities
Total equity and liabilities10/49€2.31M€3.41M▲
Equity10/15€1.09M€1.22M▲
Contributions10/11€235k€235k=
Reserves13€803k€928k▲
Tax-exempt reserves132€28k€28k=
Distributable reserves133€775k€900k▲
Profit (loss) carried forward14€51k€54k▲
Amounts payable17/49€1.22M€2.19M▲
Amounts payable within one year42/48€850k€1.14M▲
Trade debts44€682k€718k▲
Suppliers440/4€682k€718k▲
Advances received on contracts in progress46-€20k
Taxes, remuneration and social security45€56k€286k▲
Taxes450/3€16k€247k▲
Remuneration and social security454/9€40k€39k▼
Other amounts payable47/48€113k€113k=
Accrued charges and deferred income492/3€370k€1.06M▲
Income statement
Code20242025
Remuneration, social security and pensions62€282k€291k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€32k€37k▲
Other operating charges640/8€7k€4k▼
Non-recurring operating charges66A€1k-
Gross operating margin9900€848k€637k▼
Operating profit (loss)9901€527k€306k▼
Financial income75/76B€19k€25k▲
Recurring financial income75€19k€25k▲
Financial charges65/66B€9k€444▼
Recurring financial charges65€9k€444▼
Profit (loss) for the period before taxes9903€537k€330k▼
Income taxes67/77€144k€92k▼
Profit (loss) for the period9904€393k€239k▼
Profit (loss) for the period to be appropriated9905€393k€239k▼
Appropriation of the result
Profit (loss) to be appropriated9906€461k€290k▼
Profit (loss) brought forward from the previous period14P€69k€51k▼
Transfer to equity691/2€300k€125k▼
To other reserves6921€300k€125k▼
Profit to be distributed694/7€110k€110k▲
Return on contributions (dividend)694€100k€100k=
Employees696€10k€10k▲
Social balance
Average headcount (FTE)90871.81.8=
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €24k | €167k | €248k | €282k | €291k | ▲ 3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3k | €7k | €7k | €32k | €37k | ▲ 16.2% |
| Other operating charges640/8 | €1k | €9k | €3k | €7k | €4k | ▼ 49.3% |
| Non-recurring operating charges66A | - | - | - | €1k | - | - |
| Gross operating margin9900 | €50k | €646k | €549k | €848k | €637k | ▼ 24.9% |
| Operating profit (loss)9901 | €22k | €464k | €291k | €527k | €306k | ▼ 41.9% |
| Financial income75/76B | €0 | €100 | €12k | €19k | €25k | ▲ 27.4% |
| Recurring financial income75 | €0 | €100 | €12k | €19k | €25k | ▲ 27.4% |
| Financial charges65/66B | €6k | €18k | €85k | €9k | €444 | ▼ 95.2% |
| Recurring financial charges65 | €6k | €18k | €85k | €9k | €444 | ▼ 95.2% |
| Profit (loss) for the period before taxes9903 | €16k | €446k | €218k | €537k | €330k | ▼ 38.4% |
| Income taxes67/77 | €3k | €127k | €63k | €144k | €92k | ▼ 36.2% |
| Profit (loss) for the period9904 | €13k | €319k | €156k | €393k | €239k | ▼ 39.3% |
| Profit (loss) for the period to be appropriated9905 | €13k | €319k | €156k | €393k | €239k | ▼ 39.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €753k | €2.67M | €5.29M | €2.31M | €3.41M | ▲ 47.7% |
| Fixed assets21/28 | €21k | €14k | €77k | €197k | €626k | ▲ 218% |
| Tangible fixed assets22/27 | €21k | €14k | €77k | €197k | €178k | ▼ 9.5% |
| Plant, machinery and equipment23 | €7k | €4k | €71k | €152k | €141k | ▼ 6.8% |
| Furniture and vehicles24 | €14k | €10k | €6k | €45k | €36k | ▼ 18.7% |
| Financial fixed assets28 | €152 | €152 | €152 | €152 | €448k | ▲ 295,270% |
| Current assets29/58 | €732k | €2.65M | €5.22M | €2.11M | €2.78M | ▲ 31.9% |
| Amounts receivable after more than one year29 | - | - | - | €153k | €152k | ▼ 0.7% |
| Trade receivables290 | - | - | - | €153k | €152k | ▼ 0.7% |
| Stocks and contracts in progress3 | €312k | €700k | €3.25M | - | - | - |
| Stocks30/36 | €312k | €700k | €3.25M | - | - | - |
| Amounts receivable within one year40/41 | €76k | €155k | €163k | €242k | €685k | ▲ 183% |
| Trade receivables40 | €75k | €155k | €88k | €44k | €238k | ▲ 437% |
| Other amounts receivable41 | €1k | €6 | €75k | €197k | €447k | ▲ 126% |
| Current investments50/53 | - | - | - | €500k | €500k | = |
| Cash at bank and in hand54/58 | €332k | €1.76M | €1.01M | €1.00M | €1.28M | ▲ 28.1% |
| Deferred charges and accrued income490/1 | €12k | €34k | €793k | €217k | €167k | ▼ 23.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €753k | €2.67M | €5.29M | €2.31M | €3.41M | ▲ 47.7% |
| Equity10/15 | €425k | €696k | €806k | €1.09M | €1.22M | ▲ 11.8% |
| Contributions10/11 | €235k | €235k | €235k | €235k | €235k | = |
| Reserves13 | €153k | €403k | €503k | €803k | €928k | ▲ 15.6% |
| Tax-exempt reserves132 | €28k | €28k | €28k | €28k | €28k | = |
| Distributable reserves133 | €125k | €375k | €475k | €775k | €900k | ▲ 16.1% |
| Profit (loss) carried forward14 | €37k | €58k | €69k | €51k | €54k | ▲ 6.2% |
| Amounts payable17/49 | €328k | €1.97M | €4.49M | €1.22M | €2.19M | ▲ 79.9% |
| Amounts payable after more than one year17 | €229k | €595k | - | - | - | - |
| Financial debts170/4 | €229k | €595k | - | - | - | - |
| Amounts payable within one year42/48 | €52k | €1.26M | €4.34M | €850k | €1.14M | ▲ 33.7% |
| Current portion of amounts payable after more than one year42 | - | - | €130k | - | - | - |
| Trade debts44 | €5k | €892k | €1.15M | €682k | €718k | ▲ 5.4% |
| Suppliers440/4 | €5k | €892k | €1.15M | €682k | €718k | ▲ 5.4% |
| Advances received on contracts in progress46 | €10k | €93k | €2.43M | - | €20k | - |
| Taxes, remuneration and social security45 | €31k | €221k | €376k | €56k | €286k | ▲ 411% |
| Taxes450/3 | €24k | €190k | €324k | €16k | €247k | ▲ 1,428% |
| Remuneration and social security454/9 | €7k | €31k | €52k | €40k | €39k | ▼ 3.0% |
| Other amounts payable47/48 | €6k | €51k | €248k | €113k | €113k | = |
| Accrued charges and deferred income492/3 | €47k | €120k | €152k | €370k | €1.06M | ▲ 186% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €13k | €319k | €156k | €393k | €239k | ▼ 39.3% |
| + Depreciation and write-downs630 | €3k | €7k | €7k | €32k | €37k | ▲ 16.2% |
| Operating cash flow (approximation) | €15k | €326k | €163k | €424k | €275k | ▼ 35.1% |
| Investment in fixed assets (approximation) | - | €0 | €-70k | €-151k | €-466k | ▼ 208% |
| Change in cash | - | €1.43M | €-749k | €-14k | €281k | ▲ 2,082% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
09-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 9 days late
2025
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Highest result since 2018net €393k ▲153%
Operating result €527k, net result €393k, both a record.
31-12
Financial
Liquidity doublescurrent ratio 2.48
Current ratio from 1.20 to 2.48; short-term debt falls from €4.34M to €850k.
31-12
Financial
Equity above €1MEq €1.09M ▲35%
5 profitable years in a row build equity to €1.09M.
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 29 days late
2023
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 29 days late
2022
31-12
Financial
Equity above €500kEq €696k ▲63.8%
3 profitable years in a row build equity to €696k.
26-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 26 days late
2021
31-12
Financial
Liquidity triplescurrent ratio 13.99
Current ratio from 4.59 to 13.99; short-term debt falls from €115k to €52k.
27-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 27 days late
2020
31-12
Financial
Back to profitnet €210k
Net result €210k after 2 loss-making years.
Show earlier events
31-12
Financial
Liquidity times 7current ratio 4.59
Current ratio from 0.68 to 4.59; short-term debt falls from €858k to €115k.
30-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 30 days late
2019
31-12
Financial
Weakest financial yearnet €-20k
Net result drops to €-20k, the lowest in the series; recovery starts the following year.
07-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 38 days late
2018
18-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
24-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 24 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Oosterzele · 2 establishment units since 1982
Ground area
2,702 m²
Building footprint
425 m²
Volume, LiDAR
438 m³
2 parcels, Flanders · tallest building 9.2 m. Linked by address, not a title deed.
2 establishment units
Massimmo Projects
since 19822.021.697.160
Massimmo Villabouw
since 20242.359.663.174
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44023A0009/00G000 | Flanders | 1,550 m² | 1 · 205 m² | - |
| 44046A0507/00F000 | Flanders | 1,152 m² | 1 · 219 m² | 9.2 m |
Linked by address, not proof of ownership
Good to know
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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Of 9,693 companies in sector 68121 we hold annual accounts for 7,385. 3,669 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
Founded01-01-1982
Fiscal year end31-12
Activities, NACEBEL 2025
68121Development of residential building projects
46831Wholesale of construction materials, general range
68110Buying and selling of own real estate
71122Land surveying
Scores and ratios are computed by Checked and are not a credit decision.