MASSIN
ActiveSummary
MASSIN has been active since 1974 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €828,492 and a net result of €1.7m. Equity remains stable across the filed fiscal years (±1.9% per year). The computed 12-month bankruptcy probability is 0.4% (very low).
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Signals
This company filed its last 7 accounts on average 27 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (2)
History
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Financials · fiscal year 2025, full schema
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.
- 2024 Net result +233% on 2023. The previous fiscal year ran 15 months, this one 12.
- 2023 Net result +6,508% on 2022. This fiscal year ran 15 months, the previous one 12.
- 2022 Net result -100% on 2021. The accounts now follow the full schema, last year the micro schema.
Peer companies
Historical observationOf the 2,613 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 97% are still going.
- Small
- 20 years or older
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
For this company itself Checked computes a bankruptcy probability of 0.4% 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 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 2,613 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.
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | €14,838 | - | - | - | - |
| Other operating income74 | - | €14,838 | - | - | - | - |
| Operating charges60/66A | - | €2,589 | - | - | - | - |
| Services and other goods61 | - | €1,621 | - | - | - | - |
| Other operating charges640/8 | €923 | €968 | €968 | €100 | €1,098 | ▲ 998% |
| Gross operating margin9900 | €9,632 | - | €825 | -€332 | €1,213 | ▲ 465% |
| Operating profit (loss)9901 | €8,709 | €12,249 | -€143 | -€432 | €115 | ▲ 127% |
| Financial income75/76B | €1.9m | - | €600,000 | €2.0m | €1.7m | ▼ 14.5% |
| Recurring financial income75 | €1.9m | - | €600,000 | €2.0m | €1.7m | ▼ 14.5% |
| Financial charges65/66B | €24 | €114 | €139 | €119 | - | - |
| Recurring financial charges65 | €24 | €114 | €139 | €119 | - | - |
| Other financial charges652/9 | - | €114 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €1.9m | €12,135 | €599,718 | €2.0m | €1.7m | ▼ 14.5% |
| Income taxes67/77 | €1,569 | €3,062 | €176 | - | - | - |
| Taxes670/3 | - | €3,062 | - | - | - | - |
| Profit (loss) for the period9904 | €1.9m | €9,073 | €599,542 | €2.0m | €1.7m | ▼ 14.5% |
| Profit (loss) for the period to be appropriated9905 | €1.9m | €9,073 | €599,542 | €2.0m | €1.7m | ▼ 14.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €813,274 | €760,180 | €1.4m | €2.8m | €2.9m | ▲ 1.8% |
| Fixed assets21/28 | €393,049 | €393,049 | €393,049 | €393,049 | €393,049 | = |
| Financial fixed assets28 | €393,049 | €393,049 | €393,049 | €393,049 | €393,049 | = |
| Affiliated companies280/1 | - | €393,049 | - | - | - | - |
| Participating interests280 | - | €393,049 | - | - | - | - |
| Current assets29/58 | €420,225 | €367,131 | €963,452 | €2.4m | €2.5m | ▲ 2.1% |
| Amounts receivable within one year40/41 | €359,585 | €355,000 | €955,000 | €2.4m | €2.5m | ▲ 2.2% |
| Other amounts receivable41 | €359,585 | €355,000 | €955,000 | €2.4m | €2.5m | ▲ 2.2% |
| Cash at bank and in hand54/58 | €60,640 | €12,131 | €8,452 | €7,734 | €6,136 | ▼ 20.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €813,274 | €760,180 | €1.4m | €2.8m | €2.9m | ▲ 1.8% |
| Equity10/15 | €809,900 | €754,388 | €813,929 | €823,378 | €828,492 | ▲ 0.6% |
| Contributions10/11 | €720,000 | €720,000 | €720,000 | €720,000 | €720,000 | = |
| Capital10 | €720,000 | €720,000 | €720,000 | €720,000 | €720,000 | = |
| Issued capital100 | €720,000 | €720,000 | €720,000 | €720,000 | €720,000 | = |
| Reserves13 | €80,676 | €25,164 | €80,676 | €80,676 | €80,676 | = |
| Non-distributable reserves130/1 | €72,000 | €16,488 | €72,000 | €72,000 | €72,000 | = |
| Legal reserve130 | €72,000 | €16,488 | €72,000 | €72,000 | €72,000 | = |
| Tax-exempt reserves132 | €8,676 | €8,676 | €8,676 | €8,676 | €8,676 | = |
| Profit (loss) carried forward14 | €9,223 | €9,223 | €13,253 | €22,701 | €27,816 | ▲ 22.5% |
| Amounts payable17/49 | €3,374 | €5,792 | €542,571 | €2.0m | €2.0m | ▲ 2.3% |
| Amounts payable within one year42/48 | €3,374 | €4,924 | €541,703 | €2.0m | €2.0m | ▲ 2.3% |
| Trade debts44 | €1,805 | €1,659 | €1,500 | €2,202 | €693 | ▼ 68.5% |
| Suppliers440/4 | €1,805 | €1,659 | €1,500 | €2,202 | €693 | ▼ 68.5% |
| Taxes, remuneration and social security45 | €1,569 | €3,062 | - | - | - | - |
| Taxes450/3 | €1,569 | €3,062 | - | - | - | - |
| Other amounts payable47/48 | - | €203 | €540,203 | €2.0m | €2.0m | ▲ 2.4% |
| Accrued charges and deferred income492/3 | - | €868 | €868 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1.9m | €9,073 | €599,542 | €2.0m | €1.7m | ▼ 14.5% |
| Operating cash flow (approximation) | €1.9m | €9,073 | €599,542 | €2.0m | €1.7m | ▼ 14.5% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€48,509 | -€3,680 | -€717 | -€1,598 | ▼ 123% |
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
27-03
State Gazette act
Resignation: Johannes Ruijgrok (director)2 facts ▸
- Shareholder decision, 01/03/2026
- Director resignation, Johannes Ruijgrok (director)
About the unread acts
Of the 12 Belgian State Gazette acts we know for this company, 1 has been read. The other 11 have not been read yet: what they contain is neither established nor disproved here.
Directors · office · real estate
1 establishment unit
1 parcel
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25782C0631/00B000 | Wallonia | 1.4 ha | 1 · 6,334 m² | 11.4 m · 2 fl. |
Linked by address, not proof of ownership
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Johannes Ruijgrok |
|
Structure & network
Owners and holdings
1 owner · 1 holding · 2 subsidiaries in the treeChain of control
- Grando-Massin Holding
- MASSIN
Highest known parent: Grando-Massin Holding. The sources do not say who stands above it.
Owners 1
-
100%
Holdings 1
-
100%
All subsidiaries, including indirect ones 2
Companies in which this company or one of its subsidiaries holds more than half, or which it consolidates according to the LEI register.
BOYD Nivelles 100%1 subsidiary
- SERMA ELECTROMECANIQUE COMPOSITESFR 100%
According to the 2025 annual accounts of MASSIN and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Company details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.