MASSIMO
ActiveSummary
The computed 12-month bankruptcy probability of MASSIMO is 2.3% (moderate). The 2025 annual accounts show equity of €50,527 and a net result of €40,607. Its solvency ranks better than 21% of 10519 sector peers (fiscal year 2025). The company has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability79▲+40
Solvency36▼-4
Growth58
Track record94
Bankruptcy probability, 12 months
2.3%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,500 at 30 days acceptable
Liquidity short (current ratio 0.68 against 0.97 in 2024; short-term debt: 53.1% and cash: 17.6% of total assets), and 89.5% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 2025Solvency, return and age of the figures
Solvency
10.5%
Return on assets
8.4%
Age of the figures
20 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 21% of 10519 sector peers (2025).
NBB · sector comparisonPosition among 10519 sector peers
Solvency
better than 21%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-01-2025 was due by 31-08-2025 and was filed on 02-10-2025, 32 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 · 2 filingsDeviation from the deadline
2026
not confirmed
2025
32 d late
2024
12 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 2 accounts on average 10 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€50,527▼ 24.9%
2024 · €67,243
Total assets
€480,860▲ 10.7%
2024 · €434,214
Net result
€40,607▲ 461%
2024 · €7,243
Working capital
-€81,172▼ 1,766%
2024 · -€4,349
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, 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
Line20242025
Operating result€24,110-€63,248▲ 162%
Net result€7,243within the sector's middle half-€40,607within the sector's middle half▲ 461%
Equity€67,243below the sector's middle half-€50,527below the sector's middle half▼ 24.9%
Total assets€434,214below the sector's middle half-€480,860within the sector's middle half▲ 10.7%
Debt€366,971-€430,333▲ 17.3%
Working capital-€4,349below the sector's middle half--€81,172below the sector's middle half▼ 1,766%
Solvency15.5%below the sector's middle half-10.5%below the sector's middle half▼ 5.0pp
Current ratio0.97below the sector's middle half-0.68below the sector's middle half▼ 0.29
Return on assets (ROA)1.7%within the sector's middle half-8.4%within the sector's middle half▲ 6.8pp
Staff (FTE)3.6within the sector's middle half-4.6within the sector's middle half▲ 27.8%
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result rises in 2025; 2025 is 162% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €480,860
Fixed assets
€306,765 ▲ 8.7%
Current assets
€174,095 ▲ 14.5%
Equity and liabilities €480,860
Equity
€50,527 ▼ 24.9%
Debt
€430,333 ▲ 17.3%
Debt's share of the balance-sheet total rises from 84.5% to 89.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€117,404▲
2024 · €37,202
Cash flow
€94,763▲
2024 · €20,335
Quick ratio
0.37▼
2024 · 0.50
Debt to equity
8.52▲
2024 · 5.46
ROE
80.4%▲
2024 · 10.8%
Interest coverage
12.94▲
2024 · 2.16
Debt ≤ 1 year
€255,267▲
2024 · €156,442
Debt > 1 year
€175,066▼
2024 · €207,086
Income taxes
€14,067
Staff costs
€111,550▲
2024 · €81,158
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 7,976 companies that looked in July 2024 the way this one looks now, 3.1% went bankrupt within 24 months and 94% are still going.
- Micro
- 2 to 5 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
3.1%
went bankrupt
1.6%
stopped otherwise
94%
still going
A further 1.0% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.3% 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 7,976 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 | 2024 | 2025 | Change |
|---|---|---|---|
| Remuneration, social security and pensions62 | €81,158 | €111,550 | ▲ 37.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,092 | €54,156 | ▲ 314% |
| Other operating charges640/8 | €392 | €4,763 | ▲ 1,115% |
| Gross operating margin9900 | €118,752 | €233,717 | ▲ 96.8% |
| Operating profit (loss)9901 | €24,110 | €63,248 | ▲ 162% |
| Financial income75/76B | €372 | €55 | ▼ 85.3% |
| Recurring financial income75 | €372 | €55 | ▼ 85.3% |
| Financial charges65/66B | €17,240 | €8,629 | ▼ 49.9% |
| Recurring financial charges65 | €17,240 | €9,072 | ▼ 47.4% |
| Non-recurring financial charges66B | - | -€443 | - |
| Profit (loss) for the period before taxes9903 | €7,243 | €54,674 | ▲ 655% |
| Income taxes67/77 | - | €14,067 | - |
| Profit (loss) for the period9904 | €7,243 | €40,607 | ▲ 461% |
| Profit (loss) for the period to be appropriated9905 | €7,243 | €40,607 | ▲ 461% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €434,214 | €480,860 | ▲ 10.7% |
| Fixed assets21/28 | €282,121 | €306,765 | ▲ 8.7% |
| Intangible fixed assets21 | €0 | - | - |
| Tangible fixed assets22/27 | €282,120 | €306,765 | ▲ 8.7% |
| Plant, machinery and equipment23 | €9,357 | €11,254 | ▲ 20.3% |
| Furniture and vehicles24 | - | €41,550 | - |
| Other tangible fixed assets26 | €272,763 | €253,961 | ▼ 6.9% |
| Current assets29/58 | €152,093 | €174,095 | ▲ 14.5% |
| Stocks and contracts in progress3 | €74,536 | €79,993 | ▲ 7.3% |
| Stocks30/36 | €74,536 | €79,993 | ▲ 7.3% |
| Amounts receivable within one year40/41 | €5,512 | €5,611 | ▲ 1.8% |
| Trade receivables40 | €24 | €1,102 | ▲ 4,562% |
| Other amounts receivable41 | €5,488 | €4,509 | ▼ 17.8% |
| Cash at bank and in hand54/58 | €65,935 | €84,733 | ▲ 28.5% |
| Deferred charges and accrued income490/1 | €6,111 | €3,757 | ▼ 38.5% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €434,214 | €480,860 | ▲ 10.7% |
| Equity10/15 | €67,243 | €50,527 | ▼ 24.9% |
| Contributions10/11 | €60,000 | €60,000 | = |
| Profit (loss) carried forward14 | €7,243 | -€9,473 | ▼ 231% |
| Amounts payable17/49 | €366,971 | €430,333 | ▲ 17.3% |
| Amounts payable after more than one year17 | €207,086 | €175,066 | ▼ 15.5% |
| Financial debts170/4 | €207,086 | €175,066 | ▼ 15.5% |
| Amounts payable within one year42/48 | €156,442 | €255,267 | ▲ 63.2% |
| Current portion of amounts payable after more than one year42 | €30,513 | €32,020 | ▲ 4.9% |
| Trade debts44 | €110,860 | €138,464 | ▲ 24.9% |
| Suppliers440/4 | €110,860 | €138,464 | ▲ 24.9% |
| Taxes, remuneration and social security45 | €15,069 | €28,925 | ▲ 92.0% |
| Remuneration and social security454/9 | €15,069 | €28,925 | ▲ 92.0% |
| Other amounts payable47/48 | - | €55,858 | - |
| Accrued charges and deferred income492/3 | €3,443 | - | - |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | €7,243 | €40,607 | ▲ 461% |
| + Depreciation and write-downs630 | €13,092 | €54,156 | ▲ 314% |
| Operating cash flow (approximation) | €20,335 | €94,763 | ▲ 366% |
| Investment in fixed assets (approximation) | - | -€78,800 | - |
| Change in cash | - | €18,798 | - |
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
02-10
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 32 days late
2024
19-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
NBB filing
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Middelkerke · 1 establishment unit since 2023
Ground area
993 m²
Building footprint
1,231 m²
Volume, LiDAR
27,214 m³
Parcel 35011B0180/00R078, Flanders · tallest building 32.9 m, ±9 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
MASSIMO
since 20232.345.856.413
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 35011B0180/00R078 | Flanders | 993 m² | 1 · 1,231 m² | 32.9 m · 9 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.
Public money · subsidies and aid
Flemish government
2024 to 2025 · 5 entries · 21,326 EUR awarded · 16,821 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 3 | 1,000 EUR | 15,821 EUR |
| 2024 | 2 | 20,326 EUR | 1,000 EUR |
Recognitions · licences · registrations
Food safety, FASFC
1 siteMiddelkerke2.345.856.413
Dual-learning approval
3 live approvalsOnthaal, organisatie en sales duaal (so)
Winkelmedewerker (vwo)
Winkelmedewerker duaal (so)
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Of 10,510 companies in sector 47110 we hold annual accounts for 5,854. 4,637 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
Founded07-06-2023
Fiscal year end31-01
Activities, NACEBEL 2025
47110Non-specialised retail sale with food, beverages or tobacco predominating
E-invoicing
Reachable via Peppol
Peppol ID
0208:0802480010
Also
9925:BE0802480010
Registered
13-11-2025
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.