MASSIMO
ActiveSummary
MASSIMO has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show negative equity (-€216,411) and a net result of -€1,775. Equity is shrinking by ~5.3% per year across the filed fiscal years. Its solvency ranks better than 5% of 19375 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability34▲+21
Solvency0=
Growth58=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
cash: 9.8% of total assets, and equity is negative.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
-157%
Return on assets
-1.3%
Age of the figures
21 mo
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 · 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
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year -€216,411
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 24-07-2025, 7 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
7 d early
2023
1 d late
2022
52 d late
2021
61 d late
2020
26 d early
2019
212 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 49 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€1,775▲ 85.5%
2023 · -€12,210
Working capital
-€210,669▼ 1.1%
2020 · -€208,375
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result-€3,463▲ 1.3%-€12,623▼ 265%-€17,340▼ 37.4%-€12,210▲ 29.6%-€1,775▲ 85.5%
Net result-€3,463within the sector's middle half▲ 1.3%-€12,623below the sector's middle half▼ 265%-€17,340below the sector's middle half▼ 37.4%-€12,210below the sector's middle half▲ 29.6%-€1,775within the sector's middle half▲ 85.5%
Equity-€172,463below the sector's middle half▼ 2.0%-€185,086below the sector's middle half▼ 7.3%-€202,426below the sector's middle half▼ 9.4%-€214,636below the sector's middle half▼ 6.0%-€216,411below the sector's middle half▼ 0.8%
Total assets€154,848below the sector's middle half▲ 1.4%€142,115below the sector's middle half▼ 8.2%€111,588below the sector's middle half▼ 21.5%€125,294below the sector's middle half▲ 12.3%€137,820below the sector's middle half▲ 10.0%
Debt€327,311▲ 1.7%€327,201=€314,014▼ 4.0%€339,930▲ 8.3%€354,231▲ 4.2%
Working capital-€208,375below the sector's middle half▼ 0.5%-€210,669below the sector's middle half▼ 1.1%
Solvency-111.4%below the sector's middle half▼ 0.8pp-130.2%below the sector's middle half▼ 18.9pp-181.4%below the sector's middle half▼ 51.2pp-171.3%below the sector's middle half▲ 10.1pp-157.0%below the sector's middle half▲ 14.3pp
Current ratio0.15below the sector's middle half▲ 0.020.14below the sector's middle half▼ 0.01
Return on assets (ROA)-2.2%below the sector's middle half▲ 0.1pp-8.9%below the sector's middle half▼ 6.6pp-15.5%below the sector's middle half▼ 6.7pp-9.7%below the sector's middle half▲ 5.8pp-1.3%within the sector's middle half▲ 8.5pp
Staff (FTE)0below the sector's middle half0
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €1,775 in 2024 against €12,210 in 2023; the loss shrinks.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €137,820
Fixed assets
€124,290 ▲ 12.6%
Current assets
€13,530 ▼ 9.4%
Key figures and ratios
EBITDA
€9,379▲
2023 · -€5,697
Cash flow
€9,379▲
2023 · -€5,697
Debt to equity
-1.64▼
2023 · -1.58
Debt > 1 year
€354,231▲
2023 · €339,930
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,799 companies that looked in July 2024 the way this one looks now, 1.9% went bankrupt within 24 months and 90% are still going.
- Micro
- 20 years or older
- negative equity
- a small loss
1.9%
went bankrupt
5.9%
stopped otherwise
90%
still going
A further 2.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.6% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| 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% | 1.7% |
| 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 75% 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 2,799 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
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Goods, raw materials, services and sundry goods60/61 | - | €17,617 | €25,954 | €18,443 | €9,808 | ▼ 46.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10,329 | €10,329 | €9,179 | €6,513 | €11,154 | ▲ 71.3% |
| Other operating charges640/8 | - | €3,946 | €4,140 | €4,531 | €4,694 | ▲ 3.6% |
| Gross operating margin9900 | €10,741 | €1,652 | -€4,021 | -€1,166 | €14,073 | ▲ 1,307% |
| Operating profit (loss)9901 | -€3,463 | -€12,623 | -€17,340 | -€12,210 | -€1,775 | ▲ 85.5% |
| Profit (loss) for the period before taxes9903 | -€3,463 | -€12,623 | -€17,340 | -€12,210 | -€1,775 | ▲ 85.5% |
| Profit (loss) for the period9904 | -€3,463 | -€12,623 | -€17,340 | -€12,210 | -€1,775 | ▲ 85.5% |
| Profit (loss) for the period to be appropriated9905 | -€3,463 | -€12,623 | -€17,340 | -€12,210 | -€1,775 | ▲ 85.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €154,848 | €142,115 | €111,588 | €125,294 | €137,820 | ▲ 10.0% |
| Fixed assets21/28 | €119,388 | €109,059 | €99,880 | €110,367 | €124,290 | ▲ 12.6% |
| Tangible fixed assets22/27 | €119,388 | €109,059 | €99,880 | €110,367 | €124,290 | ▲ 12.6% |
| Land and buildings22 | - | €109,059 | €99,880 | €110,367 | €124,290 | ▲ 12.6% |
| Current assets29/58 | €35,460 | €33,056 | €11,708 | €14,927 | €13,530 | ▼ 9.4% |
| Amounts receivable within one year40/41 | - | €2,380 | - | - | - | - |
| Trade receivables40 | - | €2,380 | - | - | - | - |
| Cash at bank and in hand54/58 | €35,460 | €30,676 | €11,708 | €14,927 | €13,530 | ▼ 9.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €154,848 | €142,115 | €111,588 | €125,294 | €137,820 | ▲ 10.0% |
| Equity10/15 | -€172,463 | -€185,086 | -€202,426 | -€214,636 | -€216,411 | ▼ 0.8% |
| Contributions10/11 | €30,987 | €30,987 | €30,987 | €30,987 | €30,987 | = |
| Capital10 | - | €30,987 | €30,987 | €30,987 | €30,987 | = |
| Issued capital100 | - | €30,987 | €30,987 | €30,987 | €30,987 | = |
| Profit (loss) carried forward14 | -€203,450 | -€216,073 | -€233,413 | -€245,623 | -€247,398 | ▼ 0.7% |
| Amounts payable17/49 | €327,311 | €327,201 | €314,014 | €339,930 | €354,231 | ▲ 4.2% |
| Amounts payable after more than one year17 | €83,476 | €83,476 | €314,014 | €339,930 | €354,231 | ▲ 4.2% |
| Financial debts170/4 | - | €83,476 | €83,476 | €89,392 | €83,693 | ▼ 6.4% |
| Other amounts payable178/9 | - | - | €230,538 | €250,538 | €270,538 | ▲ 8.0% |
| Amounts payable within one year42/48 | €243,835 | €243,725 | - | - | - | - |
| Trade debts44 | €10,550 | - | - | - | - | - |
| Other amounts payable47/48 | - | €243,725 | - | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€3,463 | -€12,623 | -€17,340 | -€12,210 | -€1,775 | ▲ 85.5% |
| + Depreciation and write-downs630 | €10,329 | €10,329 | €9,179 | €6,513 | €11,154 | ▲ 71.3% |
| Operating cash flow (approximation) | €6,866 | -€2,294 | -€8,161 | -€5,697 | €9,379 | ▲ 265% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€17,000 | -€25,077 | ▼ 47.5% |
| Change in cash | - | -€4,784 | -€18,968 | €3,219 | -€1,397 | ▼ 143% |
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
2025
24-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
01-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 1 day late
2023
21-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 52 days late
2022
30-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 61 days late
2021
05-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
28-02
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 212 days late
2020
27-01
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 180 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 31 days late
2017
27-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 58 days late
2016
06-10
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 67 days late
NBB filing
Directors · office · real estate
Directors
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Location & real-estate footprint
Registered office, Sint-Lambrechts-Woluwe · 1 establishment unit since 1992
Ground area
108 m²
Building footprint
108 m²
Volume, LiDAR
832 m³
Parcel 21673D0125/00X004, Brussels · tallest building 13.6 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
MASSIMO SA
since 19922.058.433.733
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21673D0125/00X004 | Brussels | 108 m² | 1 · 108 m² | 13.6 m · 3 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.
Similar companies · same sector and region
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CENTRE SAINT-HENRI
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BE 0430.483.030
Sint-Lambrechts-Woluwe
This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 12,042 companies in sector 68203 we hold annual accounts for 6,005. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded22-06-1992
Fiscal year end31-12
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
E-invoicing
Reachable via Peppol
Peppol ID
0208:0447725769
Also
9925:BE0447725769
Registered
06-01-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.