MASSIMO
ActiveFrom the official registers: KBO 33 annual accounts at the National Bank publications in the Belgian Official Gazette
Summary
MASSIMO has been active since 1992 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€223,149) and a net result of -€6,738. Equity has been shrinking by about 4.8% per year since 2018. Its solvency ranks better than 5% of 11,235 sector peers (NACE 68, financial year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Overview
Official details
KBO- Status
- Active since 22-06-1992 Normal situation
- Legal form
- Public limited company
- Registered office
- Kroninglaan 91, 1200 Sint-Lambrechts-Woluwe
- Activity
- Renting and operating of own or leased non-residential real estate, excluding land NACE 68203
- Establishment unit
- 2.058.433.733 1200 Sint-Lambrechts-Woluwe, since 12-08-1992
- Financial year end
- 31 December
- Peppol
- Reachable since 06-01-2026
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.3%
- Gross margin
- €9,051
- ▼ 35.7%
- Turnover
- ≈ €32,000
- estimated
- Loss
- €6,738
- ▲ 280%
- Equity
- -€223,149
- ▼ 3.1%
- Total assets
- €142,835
- ▲ 3.6%
Score breakdownraises riskCapped at 59: negative equityNegative equity -€223,149Last filed accounts filed 61 days late; 1 of the last 3 accounts latelowers riskSize: total assets €142,835Founded in 1992Show the evidence
Checked score
About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 5% of them on solvency, 59% on liquidity, 23% on profitability and 37% on growth.
The bankruptcy probability was computed on 31-10-2026 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.
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).
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Signals
The company filed its last 7 accounts on average 51 days after 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)
Financials · financial year 2025, abbreviated format
2025 annual accounts filed 61 days after the deadline Filed on 30 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00539534.
Annual accounts 2025
- Financial year ended
- 31-12-2025
- Filed on
- 30-09-2026
- Format
- abbreviated format
- Reference
- 2026-00539534
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result for 2025 is a loss of €6,738, larger than the loss of €1,775 in 2024.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Average staff per financial year, in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Real estate activities (NACE 68). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).
Companies with the same profile, two years later
Historical observationIn July 2024, 2,796 companies had the same profile as MASSIMO has now. Two years later, 2.1% had gone bankrupt and 90.4% were still going.
- Micro
- 20 years or older
- negative equity
- a small loss
Another 1.4% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of MASSIMO itself is lower: 0.3% within 12 months. It rests on far more data about MASSIMO than the profile alone.
Test of the method
The method was tested on the 497,445 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 2,796 companies, not a prediction for MASSIMO. 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €17,617 | €25,954 | €18,443 | €9,808 | €14,531 | ▲ 48.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,024 | €7,662 | €10,329 | €10,329 | €9,179 | €6,513 | €11,154 | €11,082 | ▼ 0.6% |
| Other operating charges640/8 | - | - | - | €3,946 | €4,140 | €4,531 | €4,694 | €4,707 | ▲ 0.3% |
| Gross operating margin9900 | -€10,159 | €7,554 | €10,741 | €1,652 | -€4,021 | -€1,166 | €14,073 | €9,051 | ▼ 35.7% |
| Operating profit (loss)9901 | -€20,591 | -€3,508 | -€3,463 | -€12,623 | -€17,340 | -€12,210 | -€1,775 | -€6,738 | ▼ 280% |
| Profit (loss) for the period before taxes9903 | -€20,591 | -€3,508 | -€3,463 | -€12,623 | -€17,340 | -€12,210 | -€1,775 | -€6,738 | ▼ 280% |
| Profit (loss) for the period9904 | -€20,591 | -€3,508 | -€3,463 | -€12,623 | -€17,340 | -€12,210 | -€1,775 | -€6,738 | ▼ 280% |
| Profit (loss) for the period to be appropriated9905 | -€20,591 | -€3,508 | -€3,463 | -€12,623 | -€17,340 | -€12,210 | -€1,775 | -€6,738 | ▼ 280% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €147,684 | €152,779 | €154,848 | €142,115 | €111,588 | €125,294 | €137,820 | €142,835 | ▲ 3.6% |
| Fixed assets21/28 | €125,504 | €121,717 | €119,388 | €109,059 | €99,880 | €110,367 | €124,290 | €113,208 | ▼ 8.9% |
| Tangible fixed assets22/27 | €125,504 | €121,717 | €119,388 | €109,059 | €99,880 | €110,367 | €124,290 | €113,208 | ▼ 8.9% |
| Land and buildings22 | - | - | - | €109,059 | €99,880 | €110,367 | €124,290 | €113,208 | ▼ 8.9% |
| Current assets29/58 | €22,180 | €31,062 | €35,460 | €33,056 | €11,708 | €14,927 | €13,530 | €29,627 | ▲ 119% |
| Amounts receivable within one year40/41 | - | - | - | €2,380 | - | - | - | - | - |
| Trade receivables40 | - | - | - | €2,380 | - | - | - | - | - |
| Current investments50/53 | - | €31,062 | - | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €22,180 | - | €35,460 | €30,676 | €11,708 | €14,927 | €13,530 | €29,627 | ▲ 119% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €147,684 | €152,779 | €154,848 | €142,115 | €111,588 | €125,294 | €137,820 | €142,835 | ▲ 3.6% |
| Equity10/15 | -€165,492 | -€169,000 | -€172,463 | -€185,086 | -€202,426 | -€214,636 | -€216,411 | -€223,149 | ▼ 3.1% |
| Contributions10/11 | €30,987 | €30,987 | €30,987 | €30,987 | €30,987 | €30,987 | €30,987 | €30,987 | = |
| Capital10 | - | - | - | €30,987 | €30,987 | €30,987 | €30,987 | €30,987 | = |
| Issued capital100 | - | - | - | €30,987 | €30,987 | €30,987 | €30,987 | €30,987 | = |
| Profit (loss) carried forward14 | -€196,479 | -€199,987 | -€203,450 | -€216,073 | -€233,413 | -€245,623 | -€247,398 | -€254,136 | ▼ 2.7% |
| Amounts payable17/49 | €313,176 | €321,779 | €327,311 | €327,201 | €314,014 | €339,930 | €354,231 | €365,984 | ▲ 3.3% |
| Amounts payable after more than one year17 | €83,476 | €83,476 | €83,476 | €83,476 | €314,014 | €339,930 | €354,231 | €365,984 | ▲ 3.3% |
| Financial debts170/4 | - | - | - | €83,476 | €83,476 | €89,392 | €83,693 | €83,693 | = |
| Other amounts payable178/9 | - | - | - | - | €230,538 | €250,538 | €270,538 | €282,291 | ▲ 4.3% |
| Amounts payable within one year42/48 | €229,700 | €238,303 | €243,835 | €243,725 | - | - | - | - | - |
| Trade debts44 | €17,295 | €15,458 | €10,550 | - | - | - | - | - | - |
| Other amounts payable47/48 | - | - | - | €243,725 | - | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€20,591 | -€3,508 | -€3,463 | -€12,623 | -€17,340 | -€12,210 | -€1,775 | -€6,738 | ▼ 280% |
| + Depreciation and write-downs630 | €7,024 | €7,662 | €10,329 | €10,329 | €9,179 | €6,513 | €11,154 | €11,082 | ▼ 0.6% |
| Operating cash flow (approximation) | -€13,567 | €4,154 | €6,866 | -€2,294 | -€8,161 | -€5,697 | €9,379 | €4,344 | ▼ 53.7% |
| Investment in fixed assets (approximation) | - | -€3,875 | -€8,000 | €0 | €0 | -€17,000 | -€25,077 | €0 | - |
| Change in cash | - | - | - | -€4,784 | -€18,968 | €3,219 | -€1,397 | €16,097 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 33 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 30-09-2026 | 2026-00539534 | NBB |
| 31-12-2024 | micro format | 24-07-2025 | 2025-00317087 | |
| 31-12-2023 | micro format | 01-08-2024 | 2024-00322502 | |
| 31-12-2022 | micro format | 21-09-2023 | 2023-00453244 | |
| 31-12-2021 | micro format | 30-09-2022 | 2022-20441633 | |
| 31-12-2020 | micro format | 05-07-2021 | 2021-31100054 | |
| 31-12-2019 | micro format | 28-02-2021 | 2021-06700438 | |
| 31-12-2018 | full format | 27-01-2020 | 2020-02500430 | |
| 31-12-2017 | full format | 31-08-2018 | 2018-60400322 | |
| 31-12-2016 | micro format | 27-09-2017 | 2017-63200538 |
Comparable companies
These companies have the same main activity as MASSIMO: renting and operating of own or leased non-residential real estate, excluding land (NACE 68203). They are comparable in size and age: total assets between €136,000 and €161,000, founded between 1989 and 1996.
| Company | Founded | Total assets | Equity | Gross margin | Net result | Financial year |
|---|---|---|---|---|---|---|
| MASSIMO Sint-Lambrechts-Woluwe | 1992 | €142,835 | -€223,149 | €9,051 | -€6,738 | 2025 |
| GREEN TRADING COMPANY Etterbeek | 1994 | €157,144 | €108,302 | €9,126 | €2,786 | 2024 |
| N.O.E. Aalter | 1989 | €136,177 | €131,777 | €9,512 | €5,451 | 2025 |
| MILAGRO Destelbergen | 1989 | €154,386 | -€56,822 | €10,177 | €6,272 | 2025 |
| SOCIETE IMMOBILIERE BARETTE Ecaussinnes | 1996 | €161,153 | €150,167 | €8,422 | €6,494 | 2025 |
| EGY-INVEST Tessenderlo-Ham | 1994 | €136,197 | €134,739 | €6,986 | €2,724 | 2025 |
| DCH Gent | 1993 | €140,507 | €124,636 | €12,170 | €4,315 | 2025 |
They were chosen from the 6,621 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Owners and capital
Owners
History
Acts, filings and financial milestones
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Invoicing and payment
Financial year and general meeting
Accounts at the NBBThe scores and ratios are Checked's own calculations, not a credit decision.
Sites & property
1 establishment unit
Buildings and parcels at the address
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21673D0125/00X004 | Brussels | 108 m² | 1 · 108 m² | 13.6 m · 3 |