MASTER CRAFT
ActiveSummary
The annual accounts of MASTER CRAFT for fiscal year 2025 show a net loss of 67% of the equity at the start of that year. The 2025 annual accounts show equity of €10k and a net result of €-21k. Equity is growing by ~15.8% per year across the filed fiscal years. Its solvency ranks better than 17% of 4522 sector peers (fiscal year 2025). The company has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability17▲+17
Solvency33▼-25
Growth52=
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity ample (current ratio 1.7 against 3.83 in 2024; short-term debt: 34.9% and cash: 49.6% of total assets), but 92.1% of the assets are financed with debt.
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 81
Relative position
BE, all sectors
reference
Services to buildings and landscape activities (NACE 81)
about 79% more 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
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
7.9%
Return on assets
-16%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-21k
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 17% of 4522 sector peers (2025).
NBB · sector comparisonPosition among 4522 sector peers
Solvency
better than 17%
← weakest
strongest →
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 · 10 filingsDeviation from the deadline
2025
on the day
2024
21 d early
2023
36 d early
2022
28 d early
2021
33 d early
2020
36 d early
2019
17 d early
← 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
Equity
€10k▼ 66.8%
2024 · €31k
2018: €8k
2019: €2k▼ -73.7% vs 2018lowest in 8 years
2020: €21k▲ +893% vs 2019
2021: €27k▲ +27.1% vs 2020
2022: €28k▲ +6.1% vs 2021
2023: €51k▲ +78.5% vs 2022highest in 8 years
2024: €31k▼ -38.2% vs 2023
2025: €10k▼ -66.8% vs 2024
2018 → 2025
Total assets
€131k▲ 38.9%
2024 · €94k
2018: €14k
2019: €13k▼ -3.5% vs 2018lowest in 8 years
2020: €27k▲ +106% vs 2019
2021: €45k▲ +67.9% vs 2020
2022: €63k▲ +40.4% vs 2021
2023: €82k▲ +29.7% vs 2022
2024: €94k▲ +14.4% vs 2023
2025: €131k▲ +38.9% vs 2024highest in 8 years
2018 → 2025
Net result
€-21k▼ 8.2%
2024 · €-19k
2018: €1k
2019: €-6k▼ -526% vs 2018
2020: €19k▲ +419% vs 2019
2021: €6k▼ -69.9% vs 2020
2022: €2k▼ -71.3% vs 2021
2023: €22k▲ +1262% vs 2022highest in 8 years
2024: €-19k▼ -187% vs 2023
2025: €-21k▼ -8.2% vs 2024lowest in 8 years
2018 → 2025
Working capital
€32k▼ 42.3%
2024 · €55k
2018: €8k
2019: €2k▼ -71.6% vs 2018lowest in 8 years
2020: €21k▲ +819% vs 2019
2021: €25k▲ +20.4% vs 2020
2022: €4k▼ -85.9% vs 2021
2023: €20k▲ +473% vs 2022
2024: €55k▲ +171% vs 2023highest in 8 years
2025: €32k▼ -42.3% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€27k-€28k▲ 6.1%€51k▲ 78.5%€31k▼ 38.2%€10k▼ 66.8%
2021: €27k
2022: €28k▲ +6.1% vs 2021
2023: €51k▲ +78.5% vs 2022highest in 5 years
2024: €31k▼ -38.2% vs 2023
2025: €10k▼ -66.8% vs 2024lowest in 5 years
Operating result€6k-€4k▼ 31.8%€32k▲ 659%€-14k€-12k▲ 16.0%
2021: €6k
2022: €4k▼ -31.8% vs 2021
2023: €32k▲ +659% vs 2022highest in 5 years
2024: €-14k▼ -145% vs 2023lowest in 5 years
2025: €-12k▲ +16.0% vs 2024
Net result€6k-€2k▼ 71.3%€22k▲ 1,262%€-19k€-21k▼ 8.2%
2021: €6k
2022: €2k▼ -71.3% vs 2021
2023: €22k▲ +1262% vs 2022highest in 5 years
2024: €-19k▼ -187% vs 2023
2025: €-21k▼ -8.2% 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 stays negative: a loss of €12k in 2025 against €14k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €131k
Fixed assets
€53k ▲ 178%
Current assets
€78k ▲ 3.5%
Equity and liabilities €131k
Equity
€10k ▼ 66.8%
Debt
€120k ▲ 91.6%
Debt's share of the balance-sheet total rises from 66.8% to 92.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€18k▲
2024 · €-3k
Cash flow
€9k▲
2024 · €-8k
Current ratio
1.70▼
2024 · 3.83
Debt to equity
11.59▲
2024 · 2.01
ROE
-201.4%▼
2024 · -61.8%
ROA
-16.0%▲
2024 · -20.5%
Interest coverage
2.06▲
2024 · -0.52
Debt ≤ 1 year
€46k▲
2024 · €20k
Debt > 1 year
€75k▲
2024 · €37k
Income taxes
€183▼
2024 · €184
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 · 49 lines
Balance sheet
Code20242025
Assets
Total assets20/58€94k€131k▲
Fixed assets21/28€19k€53k▲
Tangible fixed assets22/27€19k€52k▲
Plant, machinery and equipment23€3k€5k▲
Furniture and vehicles24€16k€46k▲
Financial fixed assets28-€2k
Current assets29/58€75k€78k▲
Amounts receivable within one year40/41€26k€11k▼
Trade receivables40€17k€6k▼
Other amounts receivable41€9k€5k▼
Current investments50/53-€2k
Cash at bank and in hand54/58€49k€65k▲
Deferred charges and accrued income490/1€0-
Equity and liabilities
Total equity and liabilities10/49€94k€131k▲
Equity10/15€31k€10k▼
Contributions10/11€19k€19k=
Reserves13€12k€2k▼
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€10k€0▼
Profit (loss) carried forward14-€-11k
Amounts payable17/49€63k€120k▲
Amounts payable after more than one year17€37k€75k▲
Financial debts170/4€37k€75k▲
Amounts payable within one year42/48€20k€46k▲
Current portion of amounts payable after more than one year42€14k€34k▲
Trade debts44€5k€11k▲
Suppliers440/4€5k€11k▲
Taxes, remuneration and social security45€0€183▲
Taxes450/3€0€183▲
Other amounts payable47/48€673€769▲
Accrued charges and deferred income492/3€6k€0▼
Income statement
Code20242025
Non-recurring operating income76A€6k€0▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€11k€30k▲
Other operating charges640/8€1k€2k▲
Gross operating margin9900€-2k€20k▲
Operating profit (loss)9901€-14k€-12k▲
Financial income75/76B€94€26▼
Recurring financial income75€94€26▼
Financial charges65/66B€5k€9k▲
Recurring financial charges65€5k€9k▲
Profit (loss) for the period before taxes9903€-19k€-21k▼
Income taxes67/77€184€183▼
Profit (loss) for the period9904€-19k€-21k▼
Profit (loss) for the period to be appropriated9905€-19k€-21k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-19k€-21k▼
Transfer from equity791/2€19k€10k▼
Transfer to equity691/2€0-
To the legal reserve6920€0-
The notes to these accounts (9 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €6k | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €999 | €11k | €17k | €11k | €30k | ▲ 163% |
| Other operating charges640/8 | €124 | €1k | €729 | €1k | €2k | ▲ 41.8% |
| Gross operating margin9900 | €7k | €16k | €49k | €-2k | €20k | ▲ 1,357% |
| Operating profit (loss)9901 | €6k | €4k | €32k | €-14k | €-12k | ▲ 16.0% |
| Financial income75/76B | €749 | - | - | €94 | €26 | ▼ 71.8% |
| Recurring financial income75 | €749 | - | - | €94 | €26 | ▼ 71.8% |
| Financial charges65/66B | €1k | €2k | €3k | €5k | €9k | ▲ 74.1% |
| Recurring financial charges65 | €1k | €2k | €3k | €5k | €9k | ▲ 74.1% |
| Profit (loss) for the period before taxes9903 | €6k | €2k | €28k | €-19k | €-21k | ▼ 8.3% |
| Income taxes67/77 | - | €490 | €6k | €184 | €183 | ▼ 0.4% |
| Profit (loss) for the period9904 | €6k | €2k | €22k | €-19k | €-21k | ▼ 8.2% |
| Profit (loss) for the period to be appropriated9905 | €6k | €2k | €22k | €-19k | €-21k | ▼ 8.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €45k | €63k | €82k | €94k | €131k | ▲ 38.9% |
| Fixed assets21/28 | €13k | €43k | €47k | €19k | €53k | ▲ 178% |
| Tangible fixed assets22/27 | €13k | €43k | €47k | €19k | €52k | ▲ 170% |
| Plant, machinery and equipment23 | - | €9k | €7k | €3k | €5k | ▲ 83.1% |
| Furniture and vehicles24 | €13k | €34k | €40k | €16k | €46k | ▲ 186% |
| Financial fixed assets28 | - | - | - | - | €2k | - |
| Current assets29/58 | €33k | €21k | €35k | €75k | €78k | ▲ 3.5% |
| Stocks and contracts in progress3 | - | €4k | - | - | - | - |
| Stocks30/36 | - | €4k | - | - | - | - |
| Amounts receivable within one year40/41 | €21k | €12k | €16k | €26k | €11k | ▼ 58.0% |
| Trade receivables40 | €12k | €6k | €12k | €17k | €6k | ▼ 66.9% |
| Other amounts receivable41 | €9k | €6k | €4k | €9k | €5k | ▼ 41.0% |
| Current investments50/53 | - | - | - | - | €2k | - |
| Cash at bank and in hand54/58 | €12k | €3k | €17k | €49k | €65k | ▲ 33.1% |
| Deferred charges and accrued income490/1 | - | €1k | €2k | €0 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €45k | €63k | €82k | €94k | €131k | ▲ 38.9% |
| Equity10/15 | €27k | €28k | €51k | €31k | €10k | ▼ 66.8% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €8k | €9k | €32k | €12k | €2k | ▼ 84.5% |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | €2k | €2k | €2k | €2k | €2k | = |
| Distributable reserves133 | €6k | €7k | €30k | €10k | €0 | ▼ 100% |
| Profit (loss) carried forward14 | - | - | - | - | €-11k | - |
| Amounts payable17/49 | €18k | €35k | €32k | €63k | €120k | ▲ 91.6% |
| Amounts payable after more than one year17 | €11k | €17k | €11k | €37k | €75k | ▲ 99.9% |
| Financial debts170/4 | €11k | €17k | €11k | €37k | €75k | ▲ 99.9% |
| Amounts payable within one year42/48 | €7k | €17k | €15k | €20k | €46k | ▲ 133% |
| Current portion of amounts payable after more than one year42 | €3k | €6k | €6k | €14k | €34k | ▲ 148% |
| Financial debts43 | - | €2k | - | - | - | - |
| Credit institutions430/8 | - | €2k | - | - | - | - |
| Trade debts44 | €4k | €9k | €2k | €5k | €11k | ▲ 106% |
| Suppliers440/4 | €4k | €9k | €2k | €5k | €11k | ▲ 106% |
| Taxes, remuneration and social security45 | - | - | €6k | €0 | €183 | - |
| Taxes450/3 | - | - | €6k | €0 | €183 | - |
| Other amounts payable47/48 | - | €562 | €997 | €673 | €769 | ▲ 14.3% |
| Accrued charges and deferred income492/3 | - | €1k | €6k | €6k | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6k | €2k | €22k | €-19k | €-21k | ▼ 8.2% |
| + Depreciation and write-downs630 | €999 | €11k | €17k | €11k | €30k | ▲ 163% |
| Operating cash flow (approximation) | €7k | €12k | €39k | €-8k | €9k | ▲ 218% |
| Investment in fixed assets (approximation) | - | €-41k | €-21k | €17k | €-64k | ▼ 487% |
| Change in cash | - | €-8k | €14k | €31k | €16k | ▼ 48.7% |
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
31-12
Financial
Weakest financial yearnet €-21k
Net result drops to €-21k, the lowest in the series.
10-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
25-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2018net €22k ▲1,262%
Operating result €32k, net result €22k, both a record.
03-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
28-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
25-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Back to profitnet €19k
Net result €19k after one loss-making year.
31-12
Financial
Liquidity quadruplescurrent ratio 4.59
Current ratio from 1.21 to 4.59; short-term debt falls from €11k to €6k.
14-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
15-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
26-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
04-07
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.
0 of 5 acts read
About the unread acts
We know of 5 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
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, Beerse · 1 establishment unit since 2008
Ground area
924 m²
Building footprint
152 m²
Volume, LiDAR
692 m³
Parcel 13004D0001/00X009, Flanders · tallest building 6.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
POLSKA PAINT
since 20082.169.567.326
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13004D0001/00X009 | Flanders | 924 m² | 1 · 152 m² | 6.9 m · 2 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 7,006 companies in sector 81220 we hold annual accounts for 2,414. 1,470 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
Founded05-02-2008
Fiscal year end31-12
Activities, NACEBEL 2025
81220Other building cleaning and industrial cleaning
43320Joinery installation
43341Painting of buildings
43350Other building finishing work
43421Specialised construction activities
81210General cleaning of buildings
Contact
E-mail
SPC11.info@gmail.com
Scores and ratios are computed by Checked and are not a credit decision.