MASTERHOUSE
ActiveSummary
MASTERHOUSE has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €9,354 and a net result of €421. Equity is shrinking by ~9.8% per year across the filed fiscal years. Its solvency ranks better than 34% of 3505 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability40▲+37
Solvency56▼-2
Growth32=
Track record94
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
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Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 74
Relative position
BE, all sectors
reference
Other professional, scientific and technical activities (NACE 74)
about 48% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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 15-07-2026, 16 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
16 d early
2024
24 d early
2023
23 d early
2022
26 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 22 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 38% of the sector filed late.
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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€9,354▲ 4.7%
2024 · €8,933
Total assets
€30,312▲ 10.9%
2024 · €27,343
Net result
€421
2024 · -€9,022
Working capital
€1,657
2024 · -€2,422
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line2022202320242025
Operating result€10,010-€9,712▼ 3.0%-€5,623€3,670
Net result€6,574-€6,381▼ 2.9%-€9,022€421
Equity€11,574-€17,955▲ 55.1%€8,933▼ 50.2%€9,354▲ 4.7%
Total assets€31,191-€37,606▲ 20.6%€27,343▼ 27.3%€30,312▲ 10.9%
Debt€19,617-€19,651▲ 0.2%€18,411▼ 6.3%€20,958▲ 13.8%
Working capital-€2,740-€5,873-€2,422€1,657
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €3,670 after a loss of €5,623 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €30,312
Fixed assets
€7,697 ▼ 32.2%
Current assets
€22,615 ▲ 41.4%
Equity and liabilities €30,312
Equity
€9,354 ▲ 4.7%
Debt
€20,958 ▲ 13.8%
Debt's share of the balance-sheet total rises from 67.3% to 69.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€7,328▲
2024 · €1,089
Cash flow
€4,079▲
2024 · -€2,310
Current ratio
1.08▲
2024 · 0.87
Quick ratio
0.94▲
2024 · 0.87
Debt to equity
2.24▲
2024 · 2.06
ROE
4.5%▲
2024 · -101.0%
ROA
1.4%▲
2024 · -33.0%
Interest coverage
2.36▲
2024 · 0.33
Debt ≤ 1 year
€20,958▲
2024 · €18,411
Income taxes
€141▲
2024 · €133
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 5,047 companies that looked in July 2024 the way this one looks now, 2.0% went bankrupt within 24 months and 94% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
2.0%
went bankrupt
3.7%
stopped otherwise
94%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 5,047 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €421 | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,819 | €7,080 | €6,712 | €3,658 | ▼ 45.5% |
| Other operating charges640/8 | €1,181 | €580 | €704 | €760 | ▲ 7.9% |
| Non-recurring operating charges66A | €1 | €0 | - | - | - |
| Gross operating margin9900 | €17,431 | €17,372 | €1,794 | €8,087 | ▲ 351% |
| Operating profit (loss)9901 | €10,010 | €9,712 | -€5,623 | €3,670 | ▲ 165% |
| Financial income75/76B | €594 | €653 | €0 | €0 | ▼ 100% |
| Recurring financial income75 | €594 | €653 | €0 | €0 | ▼ 100% |
| Financial charges65/66B | €373 | €457 | €3,267 | €3,108 | ▼ 4.9% |
| Recurring financial charges65 | €373 | €457 | €3,267 | €3,108 | ▼ 4.9% |
| Profit (loss) for the period before taxes9903 | €10,231 | €9,908 | -€8,889 | €562 | ▲ 106% |
| Income taxes67/77 | €3,657 | €3,527 | €133 | €141 | ▲ 6.3% |
| Profit (loss) for the period9904 | €6,574 | €6,381 | -€9,022 | €421 | ▲ 105% |
| Profit (loss) for the period to be appropriated9905 | €6,574 | €6,381 | -€9,022 | €421 | ▲ 105% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €31,191 | €37,606 | €27,343 | €30,312 | ▲ 10.9% |
| Fixed assets21/28 | €14,314 | €14,060 | €11,355 | €7,697 | ▼ 32.2% |
| Tangible fixed assets22/27 | €14,314 | €14,060 | €11,355 | €7,697 | ▼ 32.2% |
| Plant, machinery and equipment23 | €14,314 | €14,060 | €11,355 | €7,697 | ▼ 32.2% |
| Current assets29/58 | €16,877 | €23,545 | €15,989 | €22,615 | ▲ 41.4% |
| Stocks and contracts in progress3 | - | - | - | €3,000 | - |
| Contracts in progress37 | - | - | - | €3,000 | - |
| Amounts receivable within one year40/41 | €7,170 | €10,513 | €8,398 | €18,506 | ▲ 120% |
| Trade receivables40 | €7,170 | €10,513 | €8,398 | €18,506 | ▲ 120% |
| Cash at bank and in hand54/58 | €9,570 | €13,033 | €7,477 | €1,109 | ▼ 85.2% |
| Deferred charges and accrued income490/1 | €136 | €0 | €114 | €0 | ▼ 100% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €31,191 | €37,606 | €27,343 | €30,312 | ▲ 10.9% |
| Equity10/15 | €11,574 | €17,955 | €8,933 | €9,354 | ▲ 4.7% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Reserves13 | €6,574 | €12,955 | €12,955 | €12,955 | = |
| Distributable reserves133 | €6,574 | €12,955 | €12,955 | €12,955 | = |
| Profit (loss) carried forward14 | - | - | -€9,022 | -€8,601 | ▲ 4.7% |
| Amounts payable17/49 | €19,617 | €19,651 | €18,411 | €20,958 | ▲ 13.8% |
| Amounts payable within one year42/48 | €19,617 | €17,673 | €18,411 | €20,958 | ▲ 13.8% |
| Trade debts44 | €331 | €3,297 | €973 | €2,558 | ▲ 163% |
| Suppliers440/4 | €331 | €3,297 | €973 | €2,558 | ▲ 163% |
| Taxes, remuneration and social security45 | €11,712 | €10,741 | €10,202 | €10,897 | ▲ 6.8% |
| Taxes450/3 | €11,712 | €10,741 | €8,202 | €8,897 | ▲ 8.5% |
| Remuneration and social security454/9 | - | - | €2,000 | €2,000 | = |
| Other amounts payable47/48 | €7,574 | €3,635 | €7,236 | €7,503 | ▲ 3.7% |
| Accrued charges and deferred income492/3 | - | €1,978 | €0 | - | - |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6,574 | €6,381 | -€9,022 | €421 | ▲ 105% |
| + Depreciation and write-downs630 | €5,819 | €7,080 | €6,712 | €3,658 | ▼ 45.5% |
| Operating cash flow (approximation) | €12,392 | €13,462 | -€2,310 | €4,079 | ▲ 277% |
| Investment in fixed assets (approximation) | - | -€6,827 | -€4,006 | €0 | ▲ 100% |
| Change in cash | - | €3,463 | -€5,556 | -€6,367 | ▼ 14.6% |
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
15-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €421
Net result €421 after one loss-making year.
07-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet -€9,022
Net result drops to -€9,022, the lowest in the series; recovery starts the following year.
08-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
05-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Zottegem · 1 establishment unit since 2021
Ground area
348 m²
Building footprint
154 m²
Volume, LiDAR
1,098 m³
Parcel 41081A0823/00K003, Flanders · tallest building 11.0 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
MASTERHOUSE
since 20212.318.577.835
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41081A0823/00K003 | Flanders | 348 m² | 1 · 154 m² | 11.0 m · 3 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.
Public money · subsidies and aid
Flemish government
2022 to 2023 · 2 entries · 1,830 EUR awarded · 1,724 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 750 EUR | 644 EUR |
| 2022 | 1 | 1,080 EUR | 1,080 EUR |
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Of 14,138 companies in sector 74201 we hold annual accounts for 2,611. 1,107 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
Founded21-06-2021
Fiscal year end31-12
Activities, NACEBEL 2025
74201Photography, excluding press photography
59114Motion picture, video and television programme production, sound recording and music publishing activities
59120Post-production of films, video and television programmes
73110Advertising agencies
74209Other photographic activities
77222Rental and leasing activities
Contact
E-invoicing
Reachable via Peppol
Peppol ID
0208:0769878508
Also
9925:BE0769878508
Registered
09-10-2024
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.