MASTER 33
ActiveMASTER 33 has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €62k and a net result of €11k. Equity is growing by ~9.1% per year across the filed fiscal years. Its solvency ranks better than 48% of 7331 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
63
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability78▲+59
Solvency66▼-34
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3.5k at 30 days acceptable
Liquidity ample (current ratio 1.7 against 4.5 in 2024; short-term debt: 58.6% of total assets), but 58.6% of the assets are financed with debt.
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
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
Sector 41
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
41.4%
Return on assets
7.2%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 04-02-2026, 177 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
177 d early
2024
59 d late
2023
77 d early
2022
42 d early
2021
87 d early
2020
134 d early
2019
12 d late
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
17-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€62k▼ 60.1%
2024 · €157k
2018: €65k
2019: €104k
2020: €126k
2021: €140k
2022: €147k
2023: €172k
2024: €157k
2018 → 2025
Total assets
€151k▼ 24.8%
2024 · €200k
2018: €313k
2019: €372k
2020: €387k
2021: €319k
2022: €305k
2023: €224k
2024: €200k
2018 → 2025
Net result
€11k
2024 · €-15k
2018: €14k
2019: €39k
2020: €22k
2021: €14k
2022: €7k
2023: €25k
2024: €-15k
2018 → 2025
Working capital
€62k▼ 59.9%
2024 · €153k
2018: €13k
2019: €29k
2020: €143k
2021: €116k
2022: €104k
2023: €185k
2024: €153k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€140k-€147k▲ 4.7%€172k▲ 17.2%€157k▼ 8.8%€62k▼ 60.1%
Operating result€23k-€11k▼ 53.9%€36k▲ 236%€-14k€12k
Net result€14k-€7k▼ 51.8%€25k▲ 281%€-15k€11k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €12k after a loss of €14k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €151k
Fixed assets
€936▼ 71.0%
Current assets
€150k▼ 24.0%
Equity and liabilities €151k
Equity
€62k▼ 60.1%
Debt
€88k▲ 102%
The debt ratio rises from 21.8% to 58.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€12k
Cash flow
€11k
Solvency
41.4%▼
2024 · 78.2%
Current ratio
1.70▼
2024 · 4.50
Quick ratio
1.70▼
2024 · 2.22
Debt / equity
1.41▲
2024 · 0.28
ROE
17.4%▲
2024 · -9.7%
ROA
7.2%▲
2024 · -7.6%
Interest coverage
16.55
Debt
€88k▲
2024 · €44k
Debt ≤ 1 year
€88k▲
2024 · €44k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€200k€151k▼
Fixed assets21/28€3k€936▼
Tangible fixed assets22/27-€936
Furniture and vehicles24-€936
Financial fixed assets28€3k€0▼
Current assets29/58€197k€150k▼
Stocks and contracts in progress3€100k-
Contracts in progress37€100k-
Amounts receivable within one year40/41€14k€75k▲
Trade receivables40€5k€75k▲
Other amounts receivable41€10k-
Cash at bank and in hand54/58€81k-
Deferred charges and accrued income490/1€2k€75k▲
Equity and liabilities
Total equity and liabilities10/49€200k€151k▼
Equity10/15€157k€62k▼
Contributions10/11€12k€12k=
Reserves13€57k€2k▼
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€55k€0▼
Profit (loss) carried forward14€87k€48k▼
Amounts payable17/49€44k€88k▲
Amounts payable within one year42/48€44k€88k▲
Current portion of amounts payable after more than one year42€11k-
Trade debts44€24k€4k▼
Suppliers440/4€24k€4k▼
Taxes, remuneration and social security45€9k€4k▼
Taxes450/3€9k€4k▼
Other amounts payable47/48-€81k
Income statement
Code20242025
Non-recurring operating income76A-€6k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630-€468
Other operating charges640/8€1k€1k▲
Gross operating margin9900€-13k€13k▲
Operating profit (loss)9901€-14k€12k▲
Financial income75/76B€336€28▼
Recurring financial income75€336€28▼
Financial charges65/66B€2k€726▼
Recurring financial charges65€2k€726▼
Profit (loss) for the period before taxes9903€-15k€11k▲
Profit (loss) for the period9904€-15k€11k▲
Profit (loss) for the period to be appropriated9905€-15k€11k▲
Appropriation of the result
Profit (loss) to be appropriated9906€87k€98k▲
Profit (loss) brought forward from the previous period14P€102k€87k▼
Transfer from equity791/2-€30k
Profit to be distributed694/7-€80k
Return on contributions (dividend)694-€80k
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
04-02
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €11k
Net result €11k after one loss-making year.
28-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 59 days late
2024
31-12
Financial
Weakest financial yearnet €-15k ▼160%
Net result drops to €-15k, the lowest in the series; recovery starts the following year.
15-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Liquidity triplescurrent ratio 6.24
Current ratio from 2.06 to 6.24; short-term debt falls from €98k to €35k.
31-12
Financial
Equity above €150kEq €172k ▲17.2%
6 profitable years in a row build equity to €172k.
19-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
05-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
19-03
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
12-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 12 days late
2019
31-12
Financial
Highest result since 2018net €39k ▲185%
Operating result €60k, net result €39k, both a record.
31-12
Financial
Equity above €100kEq €104k ▲60.7%
2 profitable years in a row build equity to €104k.
17-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
13-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
15-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
5 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, Ukkel · 1 establishment unit since 2004
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.
Victor Allardstraat 791180 UkkelGround area
2,411 m²
Building footprint
317 m²
Volume, LiDAR
8,642 m³
Parcel 21616A0190/00R002, Brussels · tallest building 30.1 m, ±9 floors. Linked by address, not a title deed.
1 establishment unit
MASTER 33
since 20042.139.434.473
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21616A0190/00R002 | Brussels | 2,410 m² | 1 · 317 m² | 30.1 m · 9 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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
19 categoriesMASTER 33 SRL33853
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Of 29,808 companies in sector 41001 we hold annual accounts for 16,033. 13,175 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded27-07-2004
Fiscal year end31-12
Activities, NACEBEL
41001General construction of residential buildings
Sources
Crossroads Bank for EnterprisesNational Bank · 22 filingsAddress and cadastre registers
Data from official sources, last processed on 17-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
1 entryE-mail:master33sprl@gmail.com