MASSIN CONSTRUCTIONS
ActiveSummary
The computed 12-month bankruptcy probability of MASSIN CONSTRUCTIONS is 2.8% (moderate). The annual accounts of MASSIN CONSTRUCTIONS for fiscal year 2025 show a net loss of 78% of the equity at the start of that year. The 2025 annual accounts show equity of €15,658 and a net result of -€57,108. Equity is shrinking by ~49.4% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2026. Its solvency ranks better than 13% of 7730 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability39▲+39
Solvency27▼-7
Growth32=
Track record94
Bankruptcy probability, 12 months
2.8%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity short (current ratio 0.48 against 0.52 in 2024; short-term debt: 58.8% and cash: 3.8% of total assets), and 98.1% of the assets are financed with debt.
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Signals
Seven 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 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% 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
1.9%
Return on assets
-6.8%
Age of the figures
15 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
22232425
2022 to 2025 · latest year -€57,108
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 13% of 7730 sector peers (2025).
NBB · sector comparisonPosition among 7730 sector peers
Solvency
better than 13%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 31-01-2026, 0 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
on the day
2024
248 d late
2023
20 d late
2022
381 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 162 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 (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today. Usually files around 14 June (3 of the last 4 filed years within 134 days of that day).
Companies Code · seven monthsPosition in the running window
30-06-2026 close01-10-2026 today31-01-2027 deadline
History
Go further with this company
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Financials · fiscal year 2025, micro schema
In the rankings
#6 company by total assets in Bièvre, Construction sector
Equity
€15,658▼ 78.5%
2024 · €72,765
Total assets
€842,449▲ 5.3%
2024 · €799,786
Net result
-€57,108▲ 61.0%
2024 · -€146,272
Working capital
-€256,860▼ 32.7%
2024 · -€193,531
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
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.Sector: the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line2022202320242025
Operating result€114,396-€164,371▲ 43.7%-€125,931-€9,636▲ 92.3%
Net result€92,881above the sector's middle half-€125,156above the sector's middle half▲ 34.7%-€146,272below the sector's middle half-€57,108below the sector's middle half▲ 61.0%
Equity€98,881within the sector's middle half-€219,037above the sector's middle half▲ 122%€72,765within the sector's middle half▼ 66.8%€15,658within the sector's middle half▼ 78.5%
Total assets€294,047within the sector's middle half-€639,909above the sector's middle half▲ 118%€799,786above the sector's middle half▲ 25.0%€842,449above the sector's middle half▲ 5.3%
Debt€195,166-€420,872▲ 116%€727,021▲ 72.7%€826,791▲ 13.7%
Working capital-€12,416below the sector's middle half-€69,816within the sector's middle half-€193,531below the sector's middle half-€256,860below the sector's middle half▼ 32.7%
Solvency33.6%within the sector's middle half-34.2%within the sector's middle half▲ 0.6pp9.1%below the sector's middle half▼ 25.1pp1.9%below the sector's middle half▼ 7.2pp
Current ratio0.91below the sector's middle half-1.26within the sector's middle half▲ 0.350.52below the sector's middle half▼ 0.730.48below the sector's middle half▼ 0.04
Return on assets (ROA)31.6%above the sector's middle half-19.6%above the sector's middle half▼ 12.0pp-18.3%below the sector's middle half▼ 37.8pp-6.8%below the sector's middle half▲ 11.5pp
Staff (FTE)3
above
within
below
the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €9,636 in 2025 against €125,931 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €842,449
Fixed assets
€604,363 ▲ 3.1%
Current assets
€238,086 ▲ 11.5%
Equity and liabilities €842,449
Equity
€15,658 ▼ 78.5%
Debt
€826,791 ▲ 13.7%
Debt's share of the balance-sheet total rises from 90.9% to 98.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€145,406▲
2024 · -€3,159
Cash flow
€97,934▲
2024 · -€23,500
Debt to equity
52.80▲
2024 · 9.99
ROE
-364.7%▼
2024 · -201.0%
Interest coverage
3.42▲
2024 · -0.15
Debt ≤ 1 year
€494,945▲
2024 · €407,026
Debt > 1 year
€331,846▲
2024 · €319,995
Income taxes
€5,000
Staff costs
€130,968▲
2024 · €6,472
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,301 companies that looked in July 2024 the way this one looks now, 5.5% went bankrupt within 24 months and 92% are still going.
- Micro
- 2 to 5 years old
- solvency under 10%
- a small loss
5.5%
went bankrupt
1.6%
stopped otherwise
92%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.8% 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 497,341 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 1,301 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 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €41 | €3,149 | €6,472 | €130,968 | ▲ 1,924% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €25,039 | €77,161 | €122,772 | €155,042 | ▲ 26.3% |
| Other operating charges640/8 | €149 | €1,903 | €5,451 | €3,190 | ▼ 41.5% |
| Gross operating margin9900 | €139,625 | €246,585 | €8,764 | €279,564 | ▲ 3,090% |
| Operating profit (loss)9901 | €114,396 | €164,371 | -€125,931 | -€9,636 | ▲ 92.3% |
| Financial income75/76B | €1 | €51 | €53 | €68 | ▲ 28.1% |
| Recurring financial income75 | €1 | €51 | €53 | €68 | ▲ 28.1% |
| Financial charges65/66B | €1,026 | €8,847 | €20,394 | €42,540 | ▲ 109% |
| Recurring financial charges65 | €1,026 | €8,847 | €20,394 | €42,540 | ▲ 109% |
| Profit (loss) for the period before taxes9903 | €113,371 | €155,575 | -€146,272 | -€52,108 | ▲ 64.4% |
| Income taxes67/77 | €20,490 | €30,419 | - | €5,000 | - |
| Profit (loss) for the period9904 | €92,881 | €125,156 | -€146,272 | -€57,108 | ▲ 61.0% |
| Profit (loss) for the period to be appropriated9905 | €92,881 | €125,156 | -€146,272 | -€57,108 | ▲ 61.0% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €294,047 | €639,909 | €799,786 | €842,449 | ▲ 5.3% |
| Formation expenses20 | €0 | - | - | - | - |
| Fixed assets21/28 | €174,254 | €298,769 | €586,291 | €604,363 | ▲ 3.1% |
| Intangible fixed assets21 | €6,667 | €3,333 | €0 | €0 | - |
| Tangible fixed assets22/27 | €167,587 | €295,436 | €561,291 | €579,363 | ▲ 3.2% |
| Land and buildings22 | - | - | €128,612 | €121,579 | ▼ 5.5% |
| Plant, machinery and equipment23 | €61,587 | €72,511 | €70,764 | €46,752 | ▼ 33.9% |
| Furniture and vehicles24 | €106,000 | €222,925 | €196,194 | €132,528 | ▼ 32.5% |
| Leasing and similar rights25 | - | - | €165,721 | €278,505 | ▲ 68.1% |
| Financial fixed assets28 | - | - | €25,000 | €25,000 | = |
| Current assets29/58 | €119,793 | €341,140 | €213,495 | €238,086 | ▲ 11.5% |
| Amounts receivable within one year40/41 | €79,579 | €248,859 | €180,267 | €204,149 | ▲ 13.2% |
| Trade receivables40 | €71,670 | €238,183 | €166,122 | €167,327 | ▲ 0.7% |
| Other amounts receivable41 | €7,909 | €10,676 | €14,145 | €36,821 | ▲ 160% |
| Cash at bank and in hand54/58 | €40,214 | €91,938 | €29,322 | €31,743 | ▲ 8.3% |
| Deferred charges and accrued income490/1 | - | €342 | €3,906 | €2,193 | ▼ 43.9% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €294,047 | €639,909 | €799,786 | €842,449 | ▲ 5.3% |
| Equity10/15 | €98,881 | €219,037 | €72,765 | €15,658 | ▼ 78.5% |
| Contributions10/11 | €6,000 | €6,000 | €6,000 | €6,000 | = |
| Reserves13 | - | €50,000 | €50,000 | €50,000 | = |
| Distributable reserves133 | - | €50,000 | €50,000 | €50,000 | = |
| Profit (loss) carried forward14 | €92,881 | €163,037 | €16,765 | -€40,342 | ▼ 341% |
| Amounts payable17/49 | €195,166 | €420,872 | €727,021 | €826,791 | ▲ 13.7% |
| Amounts payable after more than one year17 | €62,956 | €149,548 | €319,995 | €331,846 | ▲ 3.7% |
| Financial debts170/4 | €62,956 | €149,548 | €319,995 | €331,846 | ▲ 3.7% |
| Amounts payable within one year42/48 | €132,210 | €271,324 | €407,026 | €494,945 | ▲ 21.6% |
| Current portion of amounts payable after more than one year42 | €14,536 | €39,738 | €84,961 | €112,783 | ▲ 32.7% |
| Trade debts44 | €70,340 | €147,848 | €245,738 | €282,124 | ▲ 14.8% |
| Suppliers440/4 | €70,340 | €147,848 | €245,738 | €282,124 | ▲ 14.8% |
| Taxes, remuneration and social security45 | €24,783 | €77,409 | €56,319 | €32,946 | ▼ 41.5% |
| Taxes450/3 | €24,783 | €71,659 | €52,793 | €32,234 | ▼ 38.9% |
| Remuneration and social security454/9 | - | €5,750 | €3,526 | €713 | ▼ 79.8% |
| Other amounts payable47/48 | €22,552 | €6,329 | €20,008 | €67,092 | ▲ 235% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €92,881 | €125,156 | -€146,272 | -€57,108 | ▲ 61.0% |
| + Depreciation and write-downs630 | €25,039 | €77,161 | €122,772 | €155,042 | ▲ 26.3% |
| Operating cash flow (approximation) | €117,920 | €202,317 | -€23,500 | €97,934 | ▲ 517% |
| Investment in fixed assets (approximation) | - | -€201,677 | -€410,294 | -€173,114 | ▲ 57.8% |
| Change in cash | - | €51,724 | -€62,617 | €2,422 | ▲ 104% |
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
31-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
06-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 248 days late
2024
30-06
Financial
Weakest financial yearnet -€146,272
Net result drops to -€146,272, the lowest in the series; recovery starts the following year.
20-02
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 20 days late
16-02
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 381 days late
2023
30-06
Financial
Highest result since 2022net €125,156 ▲34.7%
Operating result €164,371, net result €125,156, both a record.
30-06
Financial
Equity above €200,000Eq €219,037 ▲122%
2 profitable years in a row build equity to €219,037.
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
No directors read yet: 0 of 2 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Bièvre · 1 establishment unit since 2021
Ground area
1,324 m²
Building footprint
146 m²
Parcel 91272B0182/00M000, Wallonia. Linked by address, not a title deed.
1 establishment unit
Massin Constructions
since 20212.328.413.041
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 91272B0182/00M000 | Wallonia | 1,324 m² | 1 · 146 m² | - |
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.
Recognitions · licences · registrations
Recognised contractor
6 categoriesMASSIN CONSTRUCTIONS SRL43112
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Of 29,766 companies in this sector we hold annual accounts for 16,066. 10,845 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPrivate limited company
Founded23-12-2021
Fiscal year end30-06
Activities, NACEBEL 2025
41001General construction of residential buildings
Contact
E-mail
massin.constructions@gmail.com
Phone
+32479413393
E-invoicing
Reachable via Peppol
Peppol ID
0208:0779263059
Registered
29-08-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.