MASTER PRO
ActiveSummary
MASTER PRO has been active since 2019 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€229,864) and a net result of -€11,963. Equity is shrinking by about 34% per year across the filed financial years. Its solvency ranks better than 5% of 2,547 sector peers (NACE 71, financial year 2025). The computed 12-month bankruptcy probability is 1.3% (low).
Financials · financial year 2025, abbreviated format
2025 annual accounts filed late (31 days) Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00503944.
Equity
-€229,864▼ 5.5%
2024 · -€217,901
Total assets
€725,296▲ 5.0%
2024 · €690,675
Net result
-€11,963▲ 88.2%
2024 · -€101,397
Working capital
-€602,669▼ 17.5%
2024 · -€512,880
Trend over the years
2021 to 2025, 5 financial years 2020 to 2025, 6 financial years
The operating result stays negative: a loss of €914 in 2025 against €90,553 in 2024; the loss shrinks.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result-€914
2025
Net result-€11,963
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€725,296
2025
Equity-€229,864
2025
Debt€955,160
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€602,669
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)-1.6%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency-31.7%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.27
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)2.7
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 71, Architectural and engineering activities; technical testing and analysis: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line202020212022202320242025
Operating result-€49,672--€67,166▼ 35.2%€61,950-€49,398-€90,553▼ 83.3%-€914▲ 99.0%
Net result-€56,889below the sector's middle half--€73,069below the sector's middle half▼ 28.4%€52,298within the sector's middle half-€59,844below the sector's middle half-€101,397below the sector's middle half▼ 69.4%-€11,963below the sector's middle half▲ 88.2%
Equity-€35,889below the sector's middle half--€108,959below the sector's middle half▼ 204%-€56,660below the sector's middle half▲ 48.0%-€116,504below the sector's middle half▼ 106%-€217,901below the sector's middle half▼ 87.0%-€229,864below the sector's middle half▼ 5.5%
Total assets€499,450within the sector's middle half-€497,057within the sector's middle half▼ 0.5%€815,201within the sector's middle half▲ 64.0%€718,443within the sector's middle half▼ 11.9%€690,675within the sector's middle half▼ 3.9%€725,296within the sector's middle half▲ 5.0%
Debt€535,339-€606,015▲ 13.2%€871,861▲ 43.9%€834,947▼ 4.2%€908,577▲ 8.8%€955,160▲ 5.1%
Working capital-€78,142below the sector's middle half--€164,470below the sector's middle half▼ 110%-€237,998below the sector's middle half▼ 44.7%-€346,433below the sector's middle half▼ 45.6%-€512,880below the sector's middle half▼ 48.0%-€602,669below the sector's middle half▼ 17.5%
Solvency-7.2%below the sector's middle half--21.9%below the sector's middle half▼ 14.7pp-7.0%below the sector's middle half▲ 15.0pp-16.2%below the sector's middle half▼ 9.3pp-31.5%below the sector's middle half▼ 15.3pp-31.7%below the sector's middle half▼ 0.1pp
Current ratio0.73below the sector's middle half-0.60below the sector's middle half▼ 0.130.47below the sector's middle half▼ 0.140.30below the sector's middle half▼ 0.160.24below the sector's middle half▼ 0.070.27below the sector's middle half▲ 0.03
Return on assets (ROA)-11.4%below the sector's middle half--14.7%below the sector's middle half▼ 3.3pp6.4%within the sector's middle half▲ 21.1pp-8.3%below the sector's middle half▼ 14.7pp-14.7%below the sector's middle half▼ 6.4pp-1.6%below the sector's middle half▲ 13.0pp
Staff (FTE)1.5below the sector's middle half-2.8within the sector's middle half▲ 86.7%2.6within the sector's middle half▼ 7.1%2.3within the sector's middle half▼ 11.5%2.8within the sector's middle half▲ 21.7%2.7within the sector's middle half▼ 3.6%
above
within
below
the middle half of NACE 71, Architectural and engineering activities; technical testing and analysis: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the abbreviated format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €725,296
Fixed assets
€507,170 ▼ 4.4%
Current assets
€218,126 ▲ 36.3%
Equity and liabilities
Equity-€229,864
Debt€955,160
Equity is negative: debt (€955,160) exceeds the balance-sheet total (€725,296).
Key figures and ratios
EBITDA
€26,304▲
2024 · -€53,385
Cash flow
€15,256▲
2024 · -€64,229
Quick ratio
0.23▲
2024 · 0.19
Interest coverage
2.38▲
2024 · -4.67
Debt ≤ 1 year
€820,796▲
2024 · €672,902
Debt > 1 year
€134,365▼
2024 · €235,675
Income taxes
€0▼
2024 · €106
Staff costs
€152,792▼
2024 · €160,458
No debt to equity: equity is negative, so debt divided by equity means nothing.
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 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €747 | €0 | - | - | - |
| Remuneration, social security and pensions62 | - | €161,053 | €216,912 | €107,938 | €160,458 | €152,792 | ▼ 4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €41,718 | €39,667 | €39,741 | €39,789 | €37,168 | €27,219 | ▼ 26.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | €1,500 | - |
| Other operating charges640/8 | - | €2,501 | €2,311 | €2,645 | €2,340 | €7,475 | ▲ 219% |
| Gross operating margin9900 | €160,692 | €136,055 | €320,913 | €100,974 | €109,413 | €188,072 | ▲ 71.9% |
| Operating profit (loss)9901 | -€49,672 | -€67,166 | €61,950 | -€49,398 | -€90,553 | -€914 | ▲ 99.0% |
| Financial income75/76B | - | €21 | €342 | €102 | €688 | €0 | ▼ 100% |
| Recurring financial income75 | €63 | €21 | €342 | €102 | €688 | €0 | ▼ 100% |
| Financial charges65/66B | - | €5,978 | €9,777 | €10,371 | €11,427 | €11,049 | ▼ 3.3% |
| Recurring financial charges65 | €6,914 | €5,978 | €9,777 | €10,371 | €11,427 | €11,049 | ▼ 3.3% |
| Profit (loss) for the period before taxes9903 | -€56,523 | -€73,123 | €52,515 | -€59,666 | -€101,292 | -€11,963 | ▲ 88.2% |
| Income taxes67/77 | €366 | -€54 | €217 | €177 | €106 | €0 | ▼ 100% |
| Profit (loss) for the period9904 | -€56,889 | -€73,069 | €52,298 | -€59,844 | -€101,397 | -€11,963 | ▲ 88.2% |
| Profit (loss) for the period to be appropriated9905 | -€56,889 | -€73,069 | €52,298 | -€59,844 | -€101,397 | -€11,963 | ▲ 88.2% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €499,450 | €497,057 | €815,201 | €718,443 | €690,675 | €725,296 | ▲ 5.0% |
| Fixed assets21/28 | €283,982 | €245,473 | €607,611 | €567,822 | €530,654 | €507,170 | ▼ 4.4% |
| Intangible fixed assets21 | €135,625 | €120,125 | €104,625 | €89,125 | €73,625 | €58,125 | ▼ 21.1% |
| Tangible fixed assets22/27 | €148,357 | €125,349 | €101,555 | €77,266 | €55,598 | €43,879 | ▼ 21.1% |
| Plant, machinery and equipment23 | - | €39,595 | €26,445 | €11,188 | €1,242 | €0 | ▼ 100% |
| Furniture and vehicles24 | - | - | - | €1,610 | €496 | €192 | ▼ 61.3% |
| Other tangible fixed assets26 | - | €85,753 | €75,110 | €64,467 | €53,859 | €43,687 | ▼ 18.9% |
| Financial fixed assets28 | - | - | €401,431 | €401,431 | €401,431 | €405,166 | ▲ 0.9% |
| Current assets29/58 | €215,468 | €251,583 | €207,590 | €150,621 | €160,022 | €218,126 | ▲ 36.3% |
| Stocks and contracts in progress3 | €114,019 | €37,530 | €37,530 | €37,530 | €29,557 | €26,145 | ▼ 11.5% |
| Stocks30/36 | - | €37,530 | €37,530 | €37,530 | €29,557 | €26,145 | ▼ 11.5% |
| Amounts receivable within one year40/41 | €59,199 | €124,151 | €78,589 | €93,167 | €93,804 | €163,910 | ▲ 74.7% |
| Trade receivables40 | - | €121,587 | €55,133 | €18,521 | €33,104 | €104,295 | ▲ 215% |
| Other amounts receivable41 | - | €2,564 | €23,456 | €74,646 | €60,700 | €59,615 | ▼ 1.8% |
| Cash at bank and in hand54/58 | €34,230 | €82,770 | €83,242 | €18,870 | €35,768 | €26,089 | ▼ 27.1% |
| Deferred charges and accrued income490/1 | - | €7,133 | €8,229 | €1,053 | €893 | €1,983 | ▲ 122% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €499,450 | €497,057 | €815,201 | €718,443 | €690,675 | €725,296 | ▲ 5.0% |
| Equity10/15 | -€35,889 | -€108,959 | -€56,660 | -€116,504 | -€217,901 | -€229,864 | ▼ 5.5% |
| Contributions10/11 | - | €21,000 | €21,000 | €21,000 | €21,000 | €21,000 | = |
| Profit (loss) carried forward14 | -€56,889 | -€129,959 | -€77,660 | -€137,504 | -€238,901 | -€250,864 | ▼ 5.0% |
| Amounts payable17/49 | €535,339 | €606,015 | €871,861 | €834,947 | €908,577 | €955,160 | ▲ 5.1% |
| Amounts payable after more than one year17 | €241,541 | €189,962 | €383,425 | €337,892 | €235,675 | €134,365 | ▼ 43.0% |
| Financial debts170/4 | - | €189,962 | €358,425 | €312,892 | €220,675 | €134,365 | ▼ 39.1% |
| Other amounts payable178/9 | - | - | €25,000 | €25,000 | €15,000 | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €293,609 | €416,053 | €445,588 | €497,054 | €672,902 | €820,796 | ▲ 22.0% |
| Current portion of amounts payable after more than one year42 | - | €51,579 | €96,929 | €76,865 | €99,217 | €96,600 | ▼ 2.6% |
| Trade debts44 | €175,135 | €195,100 | €272,238 | €274,276 | €377,780 | €592,199 | ▲ 56.8% |
| Suppliers440/4 | - | €195,100 | €272,238 | €274,276 | €377,780 | €592,199 | ▲ 56.8% |
| Advances received on contracts in progress46 | - | €81,146 | €0 | €74,970 | €129,416 | €71,901 | ▼ 44.4% |
| Taxes, remuneration and social security45 | - | €68,430 | €44,198 | €36,563 | €47,849 | €31,757 | ▼ 33.6% |
| Taxes450/3 | - | €44,356 | €24,999 | €29,107 | €29,132 | €9,226 | ▼ 68.3% |
| Remuneration and social security454/9 | - | €24,075 | €19,199 | €7,456 | €18,716 | €22,531 | ▲ 20.4% |
| Other amounts payable47/48 | - | €19,798 | €32,222 | €34,381 | €18,640 | €28,338 | ▲ 52.0% |
| Accrued charges and deferred income492/3 | - | €0 | €42,849 | €0 | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€56,889 | -€73,069 | €52,298 | -€59,844 | -€101,397 | -€11,963 | ▲ 88.2% |
| + Depreciation and write-downs630 | €41,718 | €39,667 | €39,741 | €39,789 | €37,168 | €27,219 | ▼ 26.8% |
| Operating cash flow (approximation) | -€15,171 | -€33,402 | €92,039 | -€20,055 | -€64,229 | €15,256 | - |
| Investment in fixed assets (approximation) | - | -€1,158 | -€401,878 | €0 | €0 | -€3,735 | - |
| Change in cash | - | €48,539 | €473 | -€64,372 | €16,898 | -€9,680 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (6)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | abbreviated format | 31-08-2026 | 2026-00503944 |
| 31-12-2024 | abbreviated format | 30-10-2025 | 2025-00561702 |
| 31-12-2023 | abbreviated format | 14-10-2024 | 2024-00507619 |
| 31-12-2022 | abbreviated format | 22-08-2023 | 2023-00341861 |
| 31-12-2021 | abbreviated format | 27-10-2022 | 2022-20473939 |
| 31-12-2020 | abbreviated format | 20-08-2021 | 2021-50700580 |
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Of the 3,886 active companies whose main activity is activities of interior architects (NACE 71112), figures are known for 1,324. 116 are within a factor 10 of this headcount. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.