MASTER-A
ActiveSummary
The computed 12-month bankruptcy probability of MASTER-A is 2.0% (moderate). The 2025 annual accounts show negative equity (€-9k) and a net result of €-12k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 19% of 18400 sector peers (fiscal year 2025). The company has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability12▼-85
Solvency17▼-11
Growth85▲+7
Track record100
Bankruptcy probability, 12 months
2.0%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.93 against 1.03 in 2024; short-term debt: 107.6% and cash: 5.5% of total assets), and equity is negative.
Credit check for your own amount and term
Signals
Six 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 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
-7.6%
Return on assets
-10.4%
Age of the figures
9 mo
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
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €-9k
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 31-07-2026, 0 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
on the day
2024
4 d early
2023
34 d late
2022
27 d late
2021
31 d late
2020
30 d late
2019
76 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
€170k▲ 279%
2022 · €45k
2022: €45k
2025: €170k
2022 → 2025
EBIT margin
-6.3%▼ 7.0pp
2022 · 0.7%
2022: 0.7%
2025: -6.3%
2022 → 2025
Net result
€-12k
2024 · €26k
2018: €-20klowest in 8 years
2019: €1k▲ +106% vs 2018
2020: €-8k▼ -759% vs 2019
2021: €-11k▼ -33.1% vs 2020
2022: €325▲ +103% vs 2021
2023: €4k▲ +1071% vs 2022
2024: €26k▲ +583% vs 2023highest in 8 years
2025: €-12k▼ -145% vs 2024
2018 → 2025
Working capital
€-9k
2024 · €3k
2018: €-9k
2019: €-8k▲ +13.7% vs 2018
2020: €-16k▼ -105% vs 2019
2021: €-27k▼ -68.1% vs 2020lowest in 8 years
2022: €-27k▲ +1.2% vs 2021
2023: €-23k▲ +14.2% vs 2022
2024: €3k▲ +113% vs 2023highest in 8 years
2025: €-9k▼ -378% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€45k€170k
2022: €45k
2025: €170k
Equity€-27k-€-27k▲ 1.2%€-23k▲ 14.2%€3k€-9k
2021: €-27klowest in 5 years
2022: €-27k▲ +1.2% vs 2021
2023: €-23k▲ +14.2% vs 2022
2024: €3k▲ +113% vs 2023highest in 5 years
2025: €-9k▼ -378% vs 2024
Operating result€-11k-€325€4k▲ 1,071%€26k▲ 583%€-11k
2021: €-11klowest in 5 years
2022: €325▲ +103% vs 2021
2023: €4k▲ +1071% vs 2022
2024: €26k▲ +583% vs 2023highest in 5 years
2025: €-11k▼ -141% vs 2024
Net result€-11k-€325€4k▲ 1,071%€26k▲ 583%€-12k
2021: €-11k
2022: €325▲ +103% vs 2021
2023: €4k▲ +1071% vs 2022
2024: €26k▲ +583% vs 2023highest in 5 years
2025: €-12k▼ -145% vs 2024lowest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €11k after €26k in 2024.
Key figures and ratios
Solvency
-7.6%▼
2024 · 2.8%
Current ratio
0.93▼
2024 · 1.03
Quick ratio
0.36▼
2024 · 0.37
Debt to equity
-14.10▼
2024 · 34.27
ROA
-10.4%▼
2024 · 24.0%
Debt
€120k▲
2024 · €105k
Debt ≤ 1 year
€120k▲
2024 · €105k
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 · 2025 against 2024 · 33 lines
Balance sheet
Code20242025
Assets
Total assets20/58€108k€112k▲
Current assets29/58€108k€112k▲
Stocks and contracts in progress3€69k€69k=
Stocks30/36€69k€69k=
Amounts receivable within one year40/41€37k€37k▼
Trade receivables40€33k€33k=
Other amounts receivable41€4k€4k▼
Cash at bank and in hand54/58€2k€6k▲
Equity and liabilities
Total equity and liabilities10/49€108k€112k▲
Equity10/15€3k€-9k▼
Contributions10/11€19k€19k=
Capital10€19k-
Issued capital100€19k-
Profit (loss) carried forward14€-16k€-27k▼
Amounts payable17/49€105k€120k▲
Amounts payable within one year42/48€105k€120k▲
Trade debts44€904€18k▲
Suppliers440/4€904€18k▲
Taxes, remuneration and social security45€3k-
Remuneration and social security454/9€3k-
Other amounts payable47/48€102k€102k▲
Income statement
Code20242025
Turnover70-€170k
Goods, raw materials, services and sundry goods60/61-€180k
Other operating charges640/8€41k€291▼
Gross operating margin9900€66k€-10k▼
Operating profit (loss)9901€26k€-11k▼
Financial charges65/66B-€971
Recurring financial charges65-€971
Profit (loss) for the period before taxes9903€26k€-12k▼
Profit (loss) for the period9904€26k€-12k▼
Profit (loss) for the period to be appropriated9905€26k€-12k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-16k€-27k▼
Profit (loss) brought forward from the previous period14P€-42k€-16k▲
The notes to these accounts (1 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | - | €45k | - | - | €170k | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | €180k | - |
| Other operating charges640/8 | €28k | €45k | €45k | €41k | €291 | ▼ 99.3% |
| Gross operating margin9900 | €17k | €45k | €49k | €66k | €-10k | ▼ 116% |
| Operating profit (loss)9901 | €-11k | €325 | €4k | €26k | €-11k | ▼ 141% |
| Financial charges65/66B | - | - | - | - | €971 | - |
| Recurring financial charges65 | - | - | - | - | €971 | - |
| Profit (loss) for the period before taxes9903 | €-11k | €325 | €4k | €26k | €-12k | ▼ 145% |
| Profit (loss) for the period9904 | €-11k | €325 | €4k | €26k | €-12k | ▼ 145% |
| Profit (loss) for the period to be appropriated9905 | €-11k | €325 | €4k | €26k | €-12k | ▼ 145% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €81k | €103k | €106k | €108k | €112k | ▲ 3.2% |
| Current assets29/58 | €81k | €103k | €106k | €108k | €112k | ▲ 3.2% |
| Stocks and contracts in progress3 | €75k | €75k | €75k | €69k | €69k | = |
| Stocks30/36 | €75k | €75k | €75k | €69k | €69k | = |
| Amounts receivable within one year40/41 | €4k | €27k | €25k | €37k | €37k | ▼ 1.0% |
| Trade receivables40 | - | €23k | €20k | €33k | €33k | = |
| Other amounts receivable41 | €4k | €5k | €5k | €4k | €4k | ▼ 8.8% |
| Cash at bank and in hand54/58 | €2k | €748 | €5k | €2k | €6k | ▲ 162% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €81k | €103k | €106k | €108k | €112k | ▲ 3.2% |
| Equity10/15 | €-27k | €-27k | €-23k | €3k | €-9k | ▼ 378% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Capital10 | €19k | €19k | €19k | €19k | - | - |
| Issued capital100 | €19k | €19k | €19k | €19k | - | - |
| Profit (loss) carried forward14 | €-46k | €-45k | €-42k | €-16k | €-27k | ▼ 74.8% |
| Amounts payable17/49 | €108k | €130k | €129k | €105k | €120k | ▲ 14.3% |
| Amounts payable within one year42/48 | €108k | €130k | €129k | €105k | €120k | ▲ 14.3% |
| Trade debts44 | €488 | €1k | €373 | €904 | €18k | ▲ 1,941% |
| Suppliers440/4 | €488 | €1k | €373 | €904 | €18k | ▲ 1,941% |
| Taxes, remuneration and social security45 | €7k | €3k | €3k | €3k | - | - |
| Remuneration and social security454/9 | €7k | €3k | €3k | €3k | - | - |
| Other amounts payable47/48 | €101k | €126k | €126k | €102k | €102k | ▲ 0.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-11k | €325 | €4k | €26k | €-12k | ▼ 145% |
| Operating cash flow (approximation) | €-11k | €325 | €4k | €26k | €-12k | ▼ 145% |
| Change in cash | - | €-2k | €5k | €-3k | €4k | ▲ 221% |
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
31-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
27-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2018net €26k ▲583%
Operating result €26k, net result €26k, both a record.
03-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 34 days late
2023
27-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 27 days late
2022
31-12
Financial
Back to profitnet €325
Net result €325 after 2 loss-making years.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
15-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 76 days late
2019
31-12
Financial
Back to profitnet €1k
Net result €1k after one loss-making year.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
03-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 3 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Brussel · 1 establishment unit since 2016
Ground area
113 m²
Building footprint
102 m²
Volume, LiDAR
862 m³
Parcel 21815D0182/00F003, Brussels · tallest building 17.0 m, ±3 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
Stefaniastraat 45, 1020 Brussel
since 20162.259.844.731
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21815D0182/00F003 | Brussels | 113 m² | 1 · 101 m² | 17.0 m · 3 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.
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Of 10,510 companies in sector 47110 we hold annual accounts for 5,851. 1,967 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
Founded03-02-2014
Fiscal year end31-12
Activities, NACEBEL 2025
47110Non-specialised retail sale with food, beverages or tobacco predominating
Scores and ratios are computed by Checked and are not a credit decision.