MASTER ADVICE
ActiveSummary
MASTER ADVICE has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €1.1m and a net result of €55,138. Equity is growing by ~3.1% per year across the filed fiscal years. Its solvency ranks better than 89% of 9742 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability74▲+2
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €90,000 at 30 days acceptable
Liquidity short (current ratio 0.69 against 0.03 in 2023; short-term debt: 12.5% and cash: 0.5% of total assets), and 12.5% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · 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
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← 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 2024Solvency, return and age of the figures
Solvency
87.5%
Return on assets
4.3%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-06-2025, 31 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
31 d early
2023
34 d early
2022
34 d early
2021
32 d early
2020
36 d early
2019
38 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 34 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, abbreviated schema
In the rankings
#2 oldest company in Herk-de-Stad, Real estate sector#6 company by equity in Herk-de-Stad, Real estate sector
Equity
€1.1m▲ 5.1%
2023 · €1.1m
Total assets
€1.3m▲ 8.7%
2023 · €1.2m
Net result
€55,138▲ 71.3%
2023 · €32,182
Working capital
-€49,708▲ 55.1%
2023 · -€110,801
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result-€5,999▲ 62.4%-€3,545▲ 40.9%-€6,636▼ 87.2%-€111▲ 98.3%-€4,844▼ 4,263%
Net result-€5,999within the sector's middle half▲ 62.4%€109,120within the sector's middle half-€6,636within the sector's middle half€32,182within the sector's middle half€55,138within the sector's middle half▲ 71.3%
Equity€939,569within the sector's middle half▼ 0.6%€1.0mwithin the sector's middle half▲ 11.6%€1.0mwithin the sector's middle half▼ 0.6%€1.1mwithin the sector's middle half▲ 3.1%€1.1mwithin the sector's middle half▲ 5.1%
Total assets€1.2mwithin the sector's middle half▼ 0.6%€1.2mwithin the sector's middle half▲ 0.7%€1.2mwithin the sector's middle half▼ 1.7%€1.2mwithin the sector's middle half▲ 1.0%€1.3mwithin the sector's middle half▲ 8.7%
Debt€249,331▼ 0.6%€148,242▼ 40.5%€134,128▼ 9.5%€113,652▼ 15.3%€162,028▲ 42.6%
Working capital-€248,356below the sector's middle half▲ 0.5%-€130,663within the sector's middle half▲ 47.4%-€128,726within the sector's middle half▲ 1.5%-€110,801within the sector's middle half▲ 13.9%-€49,708within the sector's middle half▲ 55.1%
Solvency79.0%above the sector's middle half=87.6%above the sector's middle half▲ 8.6pp88.6%above the sector's middle half▲ 1.0pp90.4%above the sector's middle half▲ 1.8pp87.5%above the sector's middle half▼ 3.0pp
Current ratio0.00below the sector's middle half=0.12below the sector's middle half▲ 0.110.04below the sector's middle half▼ 0.080.03below the sector's middle half▼ 0.020.69within the sector's middle half▲ 0.67
Return on assets (ROA)-0.5%within the sector's middle half▲ 0.8pp9.1%above the sector's middle half▲ 9.6pp-0.6%within the sector's middle half▼ 9.7pp2.7%within the sector's middle half▲ 3.3pp4.3%within the sector's middle half▲ 1.6pp
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €4,844 in 2024 against €111 in 2023; the loss grows.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.3m
Fixed assets
€1.2m ▼ 0.5%
Current assets
€112,320 ▲ 3,840%
Equity and liabilities €1.3m
Equity
€1.1m ▲ 5.1%
Debt
€162,028 ▲ 42.6%
Debt's share of the balance-sheet total rises from 9.6% to 12.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€1,111▼
2023 · €9,025
Cash flow
€61,093▲
2023 · €41,318
Debt to equity
0.14▲
2023 · 0.11
ROE
4.9%▲
2023 · 3.0%
Interest coverage
61.72▼
2023 · 221.48
Debt ≤ 1 year
€162,028▲
2023 · €113,652
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,308 | €8,573 | €8,573 | €9,136 | €5,955 | ▼ 34.8% |
| Other operating charges640/8 | - | €1,861 | €1,895 | €2,071 | €2,152 | ▲ 3.9% |
| Gross operating margin9900 | €4,157 | €6,889 | €3,832 | €11,096 | €3,263 | ▼ 70.6% |
| Operating profit (loss)9901 | -€5,999 | -€3,545 | -€6,636 | -€111 | -€4,844 | ▼ 4,263% |
| Financial income75/76B | - | €112,667 | - | €32,333 | €60,000 | ▲ 85.6% |
| Recurring financial income75 | - | €112,667 | - | €32,333 | €60,000 | ▲ 85.6% |
| Financial charges65/66B | - | €1 | - | €41 | €18 | ▼ 55.8% |
| Recurring financial charges65 | - | €1 | - | €41 | €18 | ▼ 55.8% |
| Profit (loss) for the period before taxes9903 | -€5,999 | €109,120 | -€6,636 | €32,182 | €55,138 | ▲ 71.3% |
| Profit (loss) for the period9904 | -€5,999 | €109,120 | -€6,636 | €32,182 | €55,138 | ▲ 71.3% |
| Profit (loss) for the period to be appropriated9905 | -€5,999 | €109,120 | -€6,636 | €32,182 | €55,138 | ▲ 71.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.2m | €1.2m | €1.2m | €1.2m | €1.3m | ▲ 8.7% |
| Fixed assets21/28 | €1.2m | €1.2m | €1.2m | €1.2m | €1.2m | ▼ 0.5% |
| Tangible fixed assets22/27 | €121,258 | €112,685 | €104,113 | €118,369 | €112,414 | ▼ 5.0% |
| Land and buildings22 | - | €112,007 | €103,778 | €118,369 | €112,414 | ▼ 5.0% |
| Furniture and vehicles24 | - | €678 | €334 | - | - | - |
| Financial fixed assets28 | €1.1m | €1.1m | €1.1m | €1.1m | €1.1m | = |
| Current assets29/58 | €975 | €17,579 | €5,402 | €2,851 | €112,320 | ▲ 3,840% |
| Amounts receivable within one year40/41 | - | €16,667 | - | - | €4,251 | - |
| Trade receivables40 | - | - | - | - | €4,251 | - |
| Other amounts receivable41 | - | €16,667 | - | - | - | - |
| Current investments50/53 | - | - | - | - | €100,000 | - |
| Cash at bank and in hand54/58 | €156 | €163 | €4,582 | €1,942 | €7,049 | ▲ 263% |
| Deferred charges and accrued income490/1 | - | €750 | €820 | €909 | €1,021 | ▲ 12.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.2m | €1.2m | €1.2m | €1.2m | €1.3m | ▲ 8.7% |
| Equity10/15 | €939,569 | €1.0m | €1.0m | €1.1m | €1.1m | ▲ 5.1% |
| Contributions10/11 | - | €1.2m | €1.2m | €1.2m | €1.2m | = |
| Reserves13 | €11,773 | €11,773 | €11,773 | €11,773 | - | - |
| Non-distributable reserves130/1 | - | €9,700 | - | - | - | - |
| Reserves not available under the articles1311 | - | €9,700 | - | - | - | - |
| Distributable reserves133 | - | €2,073 | €11,773 | €11,773 | - | - |
| Profit (loss) carried forward14 | -€235,871 | -€126,750 | -€133,386 | -€101,205 | -€34,294 | ▲ 66.1% |
| Amounts payable17/49 | €249,331 | €148,242 | €134,128 | €113,652 | €162,028 | ▲ 42.6% |
| Amounts payable within one year42/48 | €249,331 | €148,242 | €134,128 | €113,652 | €162,028 | ▲ 42.6% |
| Trade debts44 | - | €465 | - | - | - | - |
| Suppliers440/4 | - | €465 | - | - | - | - |
| Other amounts payable47/48 | - | €147,777 | €134,128 | €113,652 | €162,028 | ▲ 42.6% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€5,999 | €109,120 | -€6,636 | €32,182 | €55,138 | ▲ 71.3% |
| + Depreciation and write-downs630 | €8,308 | €8,573 | €8,573 | €9,136 | €5,955 | ▼ 34.8% |
| Operating cash flow (approximation) | €2,309 | €117,693 | €1,937 | €41,318 | €61,093 | ▲ 47.9% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€23,393 | €0 | ▲ 100% |
| Change in cash | - | €7 | €4,419 | -€2,640 | €5,107 | ▲ 293% |
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
2025
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
27-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Back to profitnet €32,182
Net result €32,182 after one loss-making year.
27-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
29-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Back to profitnet €109,120
Net result €109,120 after 2 loss-making years.
31-12
Financial
Equity above €1mEq €1.0m ▲11.6%
Equity rises from €939,569 to €1.0m.
25-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
23-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Weakest financial yearnet -€15,939
Net result drops to -€15,939, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 31 days late
2018
26-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
15-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
28-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 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
8 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, Herk-de-Stad · 1 establishment unit since 1990
Ground area
8,157 m²
Building footprint
748 m²
Volume, LiDAR
236 m³
Parcel 71024A0481/00A002, Flanders · tallest building 8.8 m. Linked by address, not a title deed.
1 establishment unit
MASTER ADVICE
since 19902.048.728.090
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71024A0481/00A002 | Flanders | 8,157 m² | 1 · 748 m² | 8.8 m |
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.
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 31-12-2024 list no shareholders, and no other source names one.
Holdings 1
-
33.33%
According to the 2024 annual accounts of MASTER ADVICE 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.
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Of 12,042 companies in sector 68203 we hold annual accounts for 6,005. 4,048 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
Founded30-03-1990
Fiscal year end31-12
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
E-invoicing
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Register as of 28 September 2026 · Peppol Directory
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