MasterGrid
ActiveThe computed 12-month bankruptcy probability of MasterGrid is 1.8% (moderate). The annual accounts of MasterGrid for fiscal year 2025 show a net loss of 63% of the equity at the start of that year. The 2025 annual accounts show equity of €31k and a net result of €-53k. Equity is growing by ~4.1% per year across the filed fiscal years. Its solvency ranks better than 17% of 1294 sector peers (fiscal year 2025). The company has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
38
/ 100
Weak
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0▼-81
Solvency38▼-5
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
1.8%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €1k 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 tight (current ratio 1.17 against 1.21 in 2024; short-term debt: 84.1% and cash: 30.7% of total assets), and 86.7% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight 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 33
Relative position
BE, all sectors
reference
Sector 33
higher
← fewer bankruptcies
more bankruptcies →
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
13.3%
Return on assets
-22.9%
Age of the figures
9 mo
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 · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 17% of 1294 sector peers (2025).
NBB · sector comparisonPosition among 1294 sector peers
Solvency
better than 17%
← weakest
strongest →
neutral · A punctual record breaks
This company filed 3 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 10-08-2026, 10 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
10 d late
2024
2 d early
2023
37 d early
2022
42 d early
2021
82 d early
2020
60 d early
2019
2 d early
← before the deadline
after the deadline →
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
16-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€31k▼ 63.2%
2024 · €84k
2018: €12k
2019: €36k
2020: €38k
2021: €39k
2022: €19k
2023: €40k
2024: €84k
2018 → 2025
Total assets
€233k▼ 49.6%
2024 · €462k
2018: €126k
2019: €113k
2020: €101k
2021: €121k
2022: €248k
2023: €443k
2024: €462k
2018 → 2025
Net result
€-53k
2024 · €45k
2018: €28k
2019: €24k
2020: €1k
2021: €1k
2022: €97k
2023: €21k
2024: €45k
2018 → 2025
Working capital
€34k▼ 57.5%
2024 · €80k
2018: €66k
2019: €44k
2020: €51k
2021: €70k
2022: €13k
2023: €78k
2024: €80k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€39k-€19k▼ 52.3%€40k▲ 114%€84k▲ 112%€31k▼ 63.2%
Operating result€2k-€131k▲ 6,315%€40k▼ 69.3%€68k▲ 70.0%€-44k
Net result€1k-€97k▲ 7,922%€21k▼ 78.2%€45k▲ 110%€-53k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €44k after €68k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €233k
Fixed assets
€3k▼ 33.4%
Current assets
€230k▼ 49.8%
Equity and liabilities €233k
Equity
€31k▼ 63.2%
Debt
€202k▼ 46.6%
The debt ratio rises from 81.8% to 86.7%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-44k▼
2024 · €70k
Cash flow
€-53k▼
2024 · €46k
Solvency
13.3%▼
2024 · 18.2%
Current ratio
1.17▼
2024 · 1.21
Quick ratio
1.17▼
2024 · 1.19
Debt / equity
6.51▲
2024 · 4.48
ROE
-171.8%▼
2024 · 52.8%
ROA
-22.9%▼
2024 · 9.6%
Interest coverage
-4.59▼
2024 · 14.09
Debt
€202k▼
2024 · €378k
Debt ≤ 1 year
€196k▼
2024 · €378k
Income taxes
€154▼
2024 · €19k
Staff costs
€142k▼
2024 · €194k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€462k€233k▼
Fixed assets21/28€4k€3k▼
Intangible fixed assets21€0-
Financial fixed assets28€4k€3k▼
Current assets29/58€458k€230k▼
Stocks and contracts in progress3€7k€0▼
Stocks30/36€7k€0▼
Amounts receivable within one year40/41€329k€155k▼
Trade receivables40€309k€129k▼
Other amounts receivable41€20k€25k▲
Cash at bank and in hand54/58€116k€72k▼
Deferred charges and accrued income490/1€5k€4k▼
Equity and liabilities
Total equity and liabilities10/49€462k€233k▼
Equity10/15€84k€31k▼
Contributions10/11€19k€19k=
Reserves13€66k€12k▼
Distributable reserves133€66k€12k▼
Amounts payable17/49€378k€202k▼
Amounts payable within one year42/48€378k€196k▼
Trade debts44€154k€22k▼
Suppliers440/4€154k€22k▼
Taxes, remuneration and social security45€85k€31k▼
Taxes450/3€70k€26k▼
Remuneration and social security454/9€15k€5k▼
Other amounts payable47/48€139k€142k▲
Accrued charges and deferred income492/3€482€6k▲
Income statement
Code20242025
Non-recurring operating income76A€0-
Remuneration, social security and pensions62€194k€142k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2k€0▼
Other operating charges640/8€387€400▲
Non-recurring operating charges66A€922€1k▲
Gross operating margin9900€265k€100k▼
Operating profit (loss)9901€68k€-44k▼
Financial income75/76B€1€28▲
Recurring financial income75€1€28▲
Financial charges65/66B€5k€10k▲
Recurring financial charges65€5k€10k▲
Profit (loss) for the period before taxes9903€63k€-53k▼
Income taxes67/77€19k€154▼
Profit (loss) for the period9904€45k€-53k▼
Profit (loss) for the period to be appropriated9905€45k€-53k▼
Appropriation of the result
Profit (loss) to be appropriated9906€45k€-53k▼
Transfer from equity791/2-€53k
Transfer to equity691/2€45k€0▼
To other reserves6921€45k€0▼
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
10-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 10 days late
2025
31-12
Financial
Weakest financial yearnet €-53k ▼220%
Net result drops to €-53k, the lowest in the series.
29-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
24-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
19-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2018net €97k ▲7922%
Operating result €131k, net result €97k, both a record.
07-02
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
01-03
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
28-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
13-02
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
20-03
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
29-03
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
no sitting director, no change since 2023
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
18-04-2023
Nicolas Vouros: Resigned as Manager
01-01-2020
Yannick Schneider: Resigned as Managing director
Location & real-estate footprint
Registered office, Watermaal-Bosvoorde · 1 establishment unit since 2015
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Terhulpsesteenweg 1501170 Watermaal-BosvoordeGround area
4,415 m²
Building footprint
2,124 m²
Volume, LiDAR
45,158 m³
Parcel 21652E0035/00R005, Brussels · tallest building 36.1 m, ±7 floors. Linked by address, not a title deed.
1 establishment unit
Atalys Belgique
since 20152.241.869.146
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21652E0035/00R005 | Brussels | 4,415 m² | 1 · 2,124 m² | 36.1 m · 7 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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 650 companies in sector 33140 we hold annual accounts for 203. 163 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded27-02-2015
Fiscal year end31-12
Activities, NACEBEL
33140Repair and maintenance of electrical equipment
71121Engineering and related technical consultancy, excluding land surveyors
Sources
Crossroads Bank for EnterprisesNational Bank · 11 filingsAddress and cadastre registers
Data from official sources, last processed on 16-09-2026. Scores and ratios are computed by Checked and are not a credit decision.