MASSINVEST

Active

Private limited companyfounded 20214 yrs activeBaksteenkaai 32, 1000 Brussel, BelgiumKBO/BCE: BE 0775.937.345

Summary

The computed 12-month bankruptcy probability of MASSINVEST is 2.7% (moderate). The 2024 annual accounts show negative equity (€-451k) and a net result of €-243k. Equity is shrinking by ~81.6% per year across the filed fiscal years. Its solvency ranks better than 11% of 19357 sector peers (fiscal year 2024). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.

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Checked score

Score 2024

29 / 100

Weak

The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability8▼-17

Solvency10▼-9

Growth32▼-26

Track record94

Bankruptcy probability, 12 months

2.7% Moderate

0%0.5%1.5%4%10%≥ 25%

No credit on open account

Liquidity short (current ratio 0.12 against 0.69 in 2023; short-term debt: 25.5% and cash: 0.3% of total assets), and equity is negative.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Seven signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Limited track record

This company has not been active as long as an established one and statistically fails somewhat more often.

KBO · incorporation date

Age against the risk zone

Higher-failure-rate region

In this region companies fail more often than in the rest of the country.

KBO · registered office

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

Sector 68

lower

← fewer bankruptcies more bankruptcies →

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 2024

Solvency, return and age of the figures

Solvency

-15.3%

Return on assets

-8.2%

Age of the figures

21 mo

Multiple establishment units

Several establishment units mean more fixed costs, and such companies fail more often than a company with one establishment.

KBO · establishment units

Negative equity

The 2024 annual accounts show negative equity and a net loss.

NBB · annual accounts 2024

Equity per financial year

222324

2022 to 2024 · latest year €-451k

Filed after the deadline

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-09-2025, 60 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 · 3 filings

Deviation from the deadline

2025

not confirmed

2024

60 d late

2023

49 d late

2022

32 d late

← before the deadline after the deadline →

Checked, nothing found (1)

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2024, micro schema

Equity

€-451k▼ 117%

2023 · €-208k

2022: €-111k 2023: €-208k

2022 → 2024

Total assets

€2.94M▼ 11.1%

2023 · €3.31M

2022: €2.46M 2023: €3.31M

2022 → 2024

Net result

€-243k▼ 150%

2023 · €-97k

2022: €-136k 2023: €-97k

2022 → 2024

Working capital

€-663k▼ 96.4%

2023 · €-338k

2022: €-219k 2023: €-338k

2022 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line202220232024Trend

Equity€-111k-€-208k▼ 87.5%€-451k▼ 117%

Operating result€-117k-€-49k▲ 58.4%€-159k▼ 225%

Net result€-136k-€-97k▲ 28.6%€-243k▼ 150%

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 €159k in 2024 against €49k in 2023; the loss grows and 2024 has the lowest result in the available series.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €2.94M

97.0%

Fixed assets €2.86M ▲ 11.2%

Current assets €87k ▼ 88.2%

Key figures and ratios

2024 value · change against 2023

EBITDA

€-16k▼

2023 · €60k

Cash flow

€-100k▼

2023 · €11k

Solvency

-15.3%▼

2023 · -6.3%

Current ratio

0.12▼

2023 · 0.69

Debt to equity

-7.52▲

2023 · -16.88

ROA

-8.2%▼

2023 · -2.9%

Interest coverage

-0.19▼

2023 · 1.22

Debt

€3.40M▼

2023 · €3.52M

Debt ≤ 1 year

€750k▼

2023 · €1.08M

Debt > 1 year

€2.62M▲

2023 · €2.44M

Income taxes

€199▼

2023 · €366

Staff costs

€2k▼

2023 · €3k

Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Filed annual accounts As filed with the NBB · 2024 against 2023 · 48 lines

Balance sheet Code20232024

Assets

Total assets20/58€3.31M€2.94M▼

Formation expenses20€722€464▼

Fixed assets21/28€2.57M€2.86M▲

Tangible fixed assets22/27€2.57M€2.86M▲

Land and buildings22€2.18M€2.42M▲

Plant, machinery and equipment23€81k€364k▲

Furniture and vehicles24€48k€71k▲

Assets under construction and advance payments27€265k€0▼

Current assets29/58€740k€87k▼

Amounts receivable within one year40/41€725k€77k▼

Trade receivables40€588k€47k▼

Other amounts receivable41€137k€30k▼

Cash at bank and in hand54/58€15k€10k▼

Equity and liabilities

Total equity and liabilities10/49€3.31M€2.94M▼

Equity10/15€-208k€-451k▼

Contributions10/11€25k€25k=

Profit (loss) carried forward14€-233k€-476k▼

Amounts payable17/49€3.52M€3.40M▼

Amounts payable after more than one year17€2.44M€2.62M▲

Financial debts170/4€1.69M€1.86M▲

Other amounts payable178/9€755k€755k=

Amounts payable within one year42/48€1.08M€750k▼

Current portion of amounts payable after more than one year42€79k€81k▲

Financial debts43€210k€0▼

Credit institutions430/8€210k€0▼

Trade debts44€664k€121k▼

Suppliers440/4€664k€121k▼

Advances received on contracts in progress46€0-

Taxes, remuneration and social security45€11k€753▼

Taxes450/3€9k€457▼

Remuneration and social security454/9€1k€296▼

Other amounts payable47/48€115k€548k▲

Accrued charges and deferred income492/3-€29k

Income statement Code20232024

Remuneration, social security and pensions62€3k€2k▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€109k€143k▲

Other operating charges640/8€12k€11k▼

Gross operating margin9900€74k€-3k▼

Operating profit (loss)9901€-49k€-159k▼

Financial income75/76B€701€107▼

Recurring financial income75€701€107▼

Financial charges65/66B€49k€84k▲

Recurring financial charges65€49k€84k▲

Profit (loss) for the period before taxes9903€-97k€-243k▼

Income taxes67/77€366€199▼

Profit (loss) for the period9904€-97k€-243k▼

Profit (loss) for the period to be appropriated9905€-97k€-243k▼

Appropriation of the result

Profit (loss) to be appropriated9906€-233k€-476k▼

Profit (loss) brought forward from the previous period14P€-136k€-233k▼

The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 4Financial 1Filings 3

2025

29-09

NBB filing Annual accounts filed

fiscal year 2024 · micro schema · 60 days late

2024

31-12

Financial Weakest financial yearnet €-243k

Net result drops to €-243k, the lowest in the series.

18-09

NBB filing Annual accounts filed

fiscal year 2023 · micro schema · 49 days late

2023

01-09

NBB filing Annual accounts filed

fiscal year 2022 · micro schema · 32 days late

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

1 act for this company is 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, Brussel · 2 establishment units since 2021

establishment All 2 establishment units on the map

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Baksteenkaai 321000 Brussel

Ground area

870 m²

Building footprint

443 m²

Volume, LiDAR

4,790 m³

2 parcels, Brussels, Flanders · tallest building 21.8 m, ±6 floors. Linked by address, not a title deed.

2 establishment units

MASSINVEST

Smalle Heerweg 12, 9080 LochristiActivities auxiliary to financial services and insurance activities

since 20212.323.233.439

Massinvest

Baksteenkaai 32, 1000 BrusselRaising of horses and other equines

since 20212.367.170.974

2 parcels

Flanders 1 (50%) Brussels 1 (50%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
21812N0332/00C000	Brussels	483 m²	1 · 285 m²	21.8 m · 6 fl.
44034D0748/00B000	Flanders	386 m²	1 · 158 m²	-

Linked by address, not proof of ownership

Methodology

via registered seat: 1 · via establishment units: 1

2 of 2 parcels 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

Chemin de Fer Industriel du Port de Vilvorde et Extensions, Compagnie de Fret International

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 9,140 companies in sector 68201 we hold annual accounts for 6,769. See the whole sector

Company data · Crossroads Bank

Identification

Legal formPrivate limited company

Founded19-10-2021

Fiscal year end31-12

Activities, NACEBEL 2025

01430Raising of horses and other equines

68201Renting and operating of own or leased residential real estate, excluding social housing

55203Holiday cottages, homes and apartments

93127Equestrian clubs

Sources

Crossroads Bank for EnterprisesNational Bank · 3 filingsAddress and cadastre registers

Scores and ratios are computed by Checked and are not a credit decision.