Equity
€551,713 ▲ 145%
MASTER TECH paid out €100,000 in dividends. That is 23% of the 2025 profit.
MASTER TECH
Lifetime
5 annual accounts with figures on one time axispeak €1.3m (2025)
€1.3m▲ 178%
peak €426,139 (2025)
€426,139▲ 268%
peak €551,713 (2025)
€551,713▲ 145%
€870,639▲ 24.7%
Board3 names since 2020
1 directorALBAYRAK Fatih
Documentsfilings and deeds
31-08-202631 days late
2025micro format
Gross margin from €452,817 to €1.3mResult from €115,933 to €426,139Dividend €100,000Equity from €225,574 to €551,713Debts from €697,940 to €870,639Investments €232,845
Key points
from the 2025 annual accountsResult
€426,139 ▲ 268%
The result rose in 2025 from €115,933 to €426,139.
Investments
€232,835 2.3 × depreciation
Green is investment, beige is depreciation. Machinery stands 68.5% higher than in 2024.
Staff
13 employees on 31-12-2025
In 2025, 38 people joined and 32 left.
Filings
5 annual accounts 2 late
The 2023 accounts came latest: 42 days after the end of the period.
Position in the sector
€426,139
Higher net result than 95% of companies in civil engineering. Sector median €12,006 · 1,259 companies.
Checked score
89
Excellent
Financially stronger than 76% of micro companies in civil engineering (NACE 42)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.3% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.8% across 1,866 companies (NACE 42, micro).
About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 1.1%
01-2025: 1.0%▼ -0.1 percentage points vs 12-2024
02-2025: 1.1%▲ +0.1 percentage points vs 01-2025
03-2025: 1.1%● unchanged vs 02-2025
04-2025: 1.1%● unchanged vs 03-2025
05-2025: 1.2%▲ +0.1 percentage points vs 04-2025
06-2025: 1.4%▲ +0.2 percentage points vs 05-2025
07-2025: 1.4%● unchanged vs 06-2025
08-2025: 0.8%▼ -0.6 percentage points vs 07-2025
09-2025: 0.8%● unchanged vs 08-2025
10-2025: 0.8%● unchanged vs 09-2025
11-2025: 0.8%● unchanged vs 10-2025
12-2025: 0.8%● unchanged vs 11-2025
01-2026: 0.8%● unchanged vs 12-2025
02-2026: 0.8%● unchanged vs 01-2026
03-2026: 0.8%● unchanged vs 02-2026
04-2026: 0.8%● unchanged vs 03-2026
05-2026: 0.8%● unchanged vs 04-2026
06-2026: 0.9%▲ +0.1 percentage points vs 05-2026
07-2026: 1.0%▲ +0.1 percentage points vs 06-2026
08-2026: 1.5%▲ +0.5 percentage points vs 07-2026highest value
09-2026: 0.4%▼ -1.1 percentage points vs 08-2026
10-2026: 0.3%▼ -0.1 percentage points vs 09-2026lowest value
11-2026: 0.3%● unchanged vs 10-2026lowest value
Financial strengthStrong
Score breakdown
raises risk
Last filed accounts filed 31 days late; 2 of the last 3 accounts late
Sector: Civil engineering (NACE 42)
lowers risk
Liquidity: current ratio 1.97, cash €433,831
Size: total assets €1.5m
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 42, micro). It does better than 42% of them on solvency, 78% on liquidity, 91% on profitability and 91% 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 very low class on 30-06-2025, 0.1% 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, 6,782 companies had the same profile as MASTER TECH has now. Each dot stands for 17 companies, two years later.
96.7%
were still trading
2.7%
stopped another way
0.6%
went bankrupt
That fits the bankruptcy probability of MASTER TECH itself: 0.3% within 12 months.
Test of the method
The method was tested on the 497,448 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 6,782 companies, not a prediction for MASTER TECH. 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
Credit of up to €45,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 1.97 (1.44 in 2024), above the usual 1.5. Short-term debt is 27.9% and cash 29.8% of total assets. However, 62.1% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises risk
raises risk · 2025 accounts filed 31 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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 · 5 filingsDeviation from the deadline
2025
31 days late
2024
29 days early
2023
42 days late
2022
17 days early
2021
6 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 5 accounts on average 4 days after the deadline. In the sector (NACE 42), the median for financial year 2024 was 2 days before the deadline, and 41% 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. The company usually files around 25 July (4 of the last 5 accounts filed within 37 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
11-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- NALLI Yunus 50 sharesdeed of 09-07-2020
- ALBAYRAK Fatih 50 sharesdeed of 09-07-2020
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0749922935
Resignation: Naili Yunus (director)
Director discharge: Naili Yunus · General meeting of 14-02-2021 · Gazette deed
Incorporation
Founding capital of €6,000, 100 shares · Founders: NALLI Yunus and ALBAYRAK Fatih · Appointments: NALLI Yunus (director) and ALBAYRAK Fatih (director) · published on 09-07-2020 · Gazette deed
First establishment
Lokerhoutstraat 69, Lokeren
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| MASTER TECH Lokeren | €1.5m | €1.3m | 37.9% | - |
| DUOFLUX Ans | €1.4m | €1.2m | 59.2% | 16 |
| KERKHOVE PIETER Zedelgem | €1.5m | €1.0m | 23.1% | 3.1 |
| COGEGAZ-FM Oupeye | €1.5m | €0.7m | 33.5% | 2 |
| EZ-Systems Lokeren | €2.4m | €2.9m | 48.3% | 38.4 |
| Infra Connection Hamme (Vl.) | €1.0m | €0.5m | 19.5% | - |
| VCS Belgium Genk | €0.8m | €0.8m | 14.1% | - |
These companies have the same main activity as MASTER TECH: civil engineering (NACE 42211). They are comparable in size and age: total assets between €753,000 and €2.4m, founded between 2018 and 2021.
Official details
Source: KBO- Status
- Active since 07-07-2020Normal situation
- Activity
- Civil engineeringNACE 42211and 3 others
- Joint committees
- 124Construction
- 200Auxiliary committee for white-collar workers · annual accounts 2025
- Establishment unit
- 2.304.788.8889160 Lokeren, since 07-07-2020
- Financial year end
- 31 December
- Peppol
- Reachable since 24-06-2025
Annual accounts 2025
- ≈ €2.3mestimated
- €1.5m▲ 52.1%
- Employeeson 31-12-2025
- 13▲ 85.7%
- Filing
- Filed on 31-08-2026
Insights on MASTER TECH
MASTER TECH files the micro format. That format states no turnover. The gross margin rose from €114,166 in 2021 to €1.3m in 2025.
The balance sheet grew most from 2022 to 2024 through fixed assets.
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 TECH
- What is the company number of MASTER TECH?
- The company number of MASTER TECH is 0749.922.935. The VAT number is the same number with BE in front: BE 0749.922.935.
- Where is MASTER TECH based?
- The registered office is at Lokerhoutstraat 69, 9160 Lokeren.Company details
- What does MASTER TECH do?
- According to the KBO register, the main activity is civil engineering (NACE 42211).
- What is the legal form of MASTER TECH?
- MASTER TECH is a private limited company (BV).
- When was MASTER TECH founded?
- MASTER TECH was founded on 07-07-2020.
- Is MASTER TECH still active?
- Yes, MASTER TECH is an active enterprise in the KBO register.
- How many employees does MASTER TECH have?
- MASTER TECH had an average of 13.8 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does MASTER TECH fall under?
- In its 2025 annual accounts, MASTER TECH states joint committees 124 (Construction) and 200 (Auxiliary committee for white-collar workers).
- What is the turnover of MASTER TECH?
- The turnover in financial year 2025 is ≈ €2.3m. This figure is estimated from the gross margin of €1.3m and 55 comparable companies of the same size. It probably lies between €1.5m and €3.0m. It is a rough estimate.
- Is MASTER TECH profitable?
- In financial year 2025, MASTER TECH made a profit of €426,139.
- Where can I find the annual accounts of MASTER TECH?
- MASTER TECH filed 5 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of MASTER TECH due?
- MASTER TECH must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
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