Losses
-€4,151 in two years
The 2024 and 2025 financial years closed with a loss. 2024 was the heaviest.
Master Build
Lifetime
2 annual accounts with figures on one time axispeak €749 (2025)
€749▲ €2,200
lowest -€3,225 (2024)
-€926▲ €2,300
peak €11,775 (2024)
€10,849▼ 7.9%
€13,720▲ 14.8%
Board3 names since 2024
2 directorsKHURAM Naymathullah and 1 other
Documentsfilings and deeds
10-08-202610 days late
2025micro format
Gross margin from -€1,451 to €749Loss of €926
Key points
from the 2025 annual accounts2025 accounts filed 10 days after the deadline
Checked score
38
Weak
Financially stronger than 39% of micro companies in construction of buildings (NACE 41)
Probability in this band: 4.2% to 15.0%
Bankruptcy probability within 12 months
4.9% Elevated
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 1.5% across 13,460 companies (NACE 41, micro).
About 5 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
05-2025: 6.5%
06-2025: 6.6%▲ +0.1 percentage points vs 05-2025
07-2025: 6.7%▲ +0.1 percentage points vs 06-2025
08-2025: 5.4%▼ -1.3 percentage points vs 07-2025
09-2025: 5.4%● unchanged vs 08-2025
10-2025: 5.5%▲ +0.1 percentage points vs 09-2025
11-2025: 5.7%▲ +0.2 percentage points vs 10-2025
12-2025: 5.7%● unchanged vs 11-2025
01-2026: 5.7%● unchanged vs 12-2025
02-2026: 5.7%● unchanged vs 01-2026
03-2026: 5.8%▲ +0.1 percentage points vs 02-2026
04-2026: 6.8%▲ +1.0 percentage point vs 03-2026
05-2026: 7.2%▲ +0.4 percentage points vs 04-2026
06-2026: 7.3%▲ +0.1 percentage points vs 05-2026
07-2026: 7.4%▲ +0.1 percentage points vs 06-2026
08-2026: 7.6%▲ +0.2 percentage points vs 07-2026highest value
09-2026: 4.9%▼ -2.7 percentage points vs 08-2026lowest value
10-2026: 4.9%● unchanged vs 09-2026lowest value
11-2026: 4.9%● unchanged vs 10-2026lowest value
Financial strengthAverage
Score breakdown
raises risk
Founded in 2024
Sector: Construction of residential and non-residential buildings (NACE 41)
Liquidity: current ratio 1.36
Size: total assets €24,569
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 41, micro). It does better than 52% of them on solvency, 40% on liquidity, 35% on profitability and 27% on growth.
The bankruptcy probability was computed on 10-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the elevated class on 30-06-2025, 6.3% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 2,145 companies had the same profile as Master Build has now. Each dot stands for 6 companies, two years later.
91.7%
were still trading
5.9%
stopped another way
2.2%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of Master Build itself is higher: 4.9% within 12 months. It rests on far more data about Master Build than the profile alone.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 2,145 companies, not a prediction for Master Build. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
No publishable credit limit, so credit only on tighter terms
Liquidity is tight, with a current ratio of 1.36 (1.37 in 2024), below the usual 1.5. Short-term debt is 55.8% of total assets. 55.8% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
raises risk
raises risk · 2025 accounts filed 10 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 10-08-2026, 10 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 2 filingsDeviation from the deadline
2025
10 days late
2024
2 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 2 accounts on average 4 days after the deadline. In the sector (NACE 41), the median for financial year 2024 was on the deadline day, and 46% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsWhere today falls in the filing period
11-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- KHURAM Naymathullah founderdeed of 16-04-2024
- QASIMI Mahmood founderdeed of 16-04-2024
- AMIRI Sarwar founderdeed of 16-04-2024
Recent changes
Registered office moved within Sint-Niklaas
New registered office: Goudenregenlaan 59, 9100 Sint-Niklaas · Previous registered office: Fazantenstraat 37, 9100 Sint-Niklaas · Appointment: Haoidi Mohammad Zubair (director) · General meeting of 07-08-2024 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:1008352216
Incorporation
Founding capital of €15,000, 120 shares · Founders: KHURAM Naymathullah, QASIMI Mahmood and AMIRI Sarwar · Appointment: KHURAM Naymathullah (director) · published on 16-04-2024 · Gazette deed
First establishment
Goudenregenlaan 59, Sint-Niklaas
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| Master Build Sint-Niklaas | €24,569 | €749 | 44.2% | - |
| Firma Van Orzeszki Renovations Wetteren | €23,146 | -€12,580 | -29.5% | - |
| Bright Side Of The House Antwerp | €23,944 | -€5,769 | 4.6% | - |
| Luca toiture Saint-Josse-ten-Noode | €27,790 | €901 | 49.8% | - |
| NEW ENGLAND CONSTRUCTION Ramillies | €21,433 | -€1,903 | 37.9% | - |
| VALENSSIO Dilbeek | €23,327 | €680 | 43.0% | - |
| CMTech Wavre | €21,395 | €682 | -5.4% | - |
These companies have the same main activity as Master Build: general construction of residential buildings (NACE 41001). They are comparable in size and age: total assets between €21,400 and €27,800, founded in 2024.
Official details
Source: KBO- Status
- Active since 12-04-2024Normal situation
- Activity
- General construction of residential buildingsNACE 41001and 8 others
- Establishment unit
- 2.358.180.3619100 Sint-Niklaas, since 12-04-2024
- Financial year end
- 31 December
- Peppol
- Reachable since 13-08-2024
Insights on Master Build
The computed 12-month bankruptcy probability of Master Build is 4.9% (elevated). The 2025 annual accounts show equity of €10,849 and a net result of -€926.
Its solvency ranks better than 51% of 9,462 sector peers (NACE 41, financial year 2025). The company has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about Master Build
- What is the company number of Master Build?
- The company number of Master Build is 1008.352.216. The VAT number is the same number with BE in front: BE 1008.352.216.
- Where is Master Build based?
- The registered office is at Goudenregenlaan 59, 9100 Sint-Niklaas.Company details
- What does Master Build do?
- According to the KBO register, the main activity is general construction of residential buildings (NACE 41001).
- What is the legal form of Master Build?
- Master Build is a private limited company (BV).
- When was Master Build founded?
- Master Build was founded on 12-04-2024.
- Is Master Build still active?
- Yes, Master Build is an active enterprise in the KBO register.
- What is the turnover of Master Build?
- The turnover in financial year 2025 is ≈ €9,100. This figure is estimated from the gross margin of €749 and 263 comparable companies (NACE 41001). It probably lies between €4,700 and €16,000. It is a rough estimate.Financials
- Is Master Build profitable?
- In financial year 2025, Master Build made a loss of €926.
- Where can I find the annual accounts of Master Build?
- Master Build filed 2 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of Master Build due?
- Master Build must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can trust this company with building work.Contractor check Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Check which of your other customers you can e-invoice via Peppol.Peppol check Compare this company with its sector.Sector benchmark
See how customers, suppliers and banks see your own company and what to improve first.