Equity
€625,000 ▼ 18.8%
Mastermind paid out €428,946 in dividends. That is 151% of the 2025 profit.
Mastermind
Lifetime
9 annual accounts with figures on one time axispeak €596,204 (2024)
€510,775▼ 14.3%
lowest -€20,052 (2020)
€284,568▼ 30.7%
peak €769,378 (2024)
€625,000▼ 18.8%
€2.6m▲ 52.3%
peak 0.9 FTE (2025)
0.9 FTE
Board4 names since 2016
1 directorVRE Group
Owners
Documentsfilings and deeds
01-07-202630 days before the deadline
2025abbreviated format
Gross margin from €596,204 to €510,775Result from €410,729 to €284,568Dividend €428,946Equity from €769,378 to €625,000Debts from €1.7m to €2.6mInvestments €16,293
Key points
from the 2025 annual accountsResult
€284,568 ▼ 30.7%
The result fell in 2025 from €410,729 to €284,568.
Debts
€2.6m 81% of the balance sheet
Financial debts 59%Suppliers 10%Taxes and wages 1%Other 30%
€1.4m of the debts are secured on the company's own assets. In 2023 that was €444,065.
Investments
€16,293 13.9 × depreciation
Green is investment, beige is depreciation.
Staff
1 employees on 31-12-2025
In 2025, 5 people joined and 5 left.
Position in the sector
€284,568
Higher net result than 90% of companies in real estate. Sector median €9,976 · 11,288 companies.
Checked score
86
Excellent
Financially stronger than 40% of micro companies in real estate (NACE 68)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 26,627 companies (NACE 68, micro).
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: < 0.1%
01-2025: < 0.1%● unchanged vs 12-2024lowest value
02-2025: < 0.1%● unchanged vs 01-2025
03-2025: < 0.1%● unchanged vs 02-2025
04-2025: < 0.1%● unchanged vs 03-2025
05-2025: < 0.1%● unchanged vs 04-2025
06-2025: < 0.1%● unchanged vs 05-2025
07-2025: 0.1%▲ +0.1 percentage points vs 06-2025
08-2025: 0.1%● unchanged vs 07-2025
09-2025: 0.1%● unchanged vs 08-2025
10-2025: 0.1%● unchanged vs 09-2025
11-2025: 0.1%● unchanged vs 10-2025
12-2025: 0.1%● unchanged vs 11-2025
01-2026: 0.1%● unchanged vs 12-2025
02-2026: 0.1%● unchanged vs 01-2026
03-2026: 0.1%● unchanged vs 02-2026
04-2026: 0.3%▲ +0.2 percentage points vs 03-2026
05-2026: 0.3%● unchanged vs 04-2026
06-2026: 0.3%● unchanged vs 05-2026
07-2026: 0.4%▲ +0.1 percentage points vs 06-2026highest value
08-2026: 0.2%▼ -0.2 percentage points vs 07-2026
09-2026: 0.2%● unchanged vs 08-2026
10-2026: 0.2%● unchanged vs 09-2026
11-2026: 0.2%● unchanged vs 10-2026
Financial strengthAverage
Score breakdown
raises risk
1 change of registered office in 24 months
lowers risk
Figures for financial year 2025 (filed on 01-07-2026)
Size: 0.9 FTE, total assets €3.2m
Sector: Real estate activities (NACE 68)
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 68, micro). It does better than 39% of them on solvency, 21% on liquidity, 77% on profitability and 22% 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, 5,053 companies had the same profile as Mastermind has now. Each dot stands for 13 companies, two years later.
95.9%
were still trading
2.4%
stopped another way
1.6%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of Mastermind itself is lower: 0.2% within 12 months. It rests on far more data about Mastermind than the profile alone.
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 5,053 companies, not a prediction for Mastermind. 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 €50,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 1.51 (1.94 in 2024), above the usual 1.5. Short-term debt is 65.9% and cash 10.2% of total assets. However, 80.5% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
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 01-07-2026, 30 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
30 days early
2024
30 days early
2023
on the day
2022
14 days early
2021
25 days late
2020
9 days late
2019
116 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 11 days after the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% 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 17 July (4 of the last 5 accounts filed within 30 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
Recent changes
General meeting of 24-09-2026
Gazette deed
Environmental permit granted
Slopen van niet vrijstaande gebouwen of constructies, Verbouwen en/of uitbreiden zonder functiewijziging en zonder wijziging van aantal woongelegenheden · Wevelgem
Appointment: KD INVEST (niet statutairebaseuurder)
Permanent representative: Kevin Declercq · General meeting of 11-06-2026 · Gazette deed
Environmental permit granted
Verbouwen en/of uitbreiden zonder functiewijziging en zonder wijziging van aantal woongelegenheden · Kortrijk
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| Mastermind Kortrijk | €3.2m | €510,775 | 19.5% | 0.9 |
| STIJN DE BEER Boutersem | €3.7m | €537,708 | 2.3% | 1.4 |
| CEMACO Nazareth | €2.7m | €408,938 | 14.4% | 0.5 |
| Trippp Invest Malle | €2.9m | €344,948 | -44.4% | 1 |
| ALPHA BOUWPROMOTIE Aalter | €2.2m | €336,806 | 45.5% | 1.2 |
| ScoutSenn Hoogstraten | €3.9m | €691,266 | 14.1% | 1.6 |
| NINA BRUNO VASTGOED Genk | €2.7m | €217,009 | -6.8% | 1 |
These companies have the same main activity as Mastermind: development of residential building projects (NACE 68121). They are comparable in size and age: total assets between €2.2m and €3.9m, founded between 2014 and 2019.
Official details
Source: KBO- Status
- Active since 02-11-2016Normal situation
- Activity
- Development of residential building projectsNACE 68121and 5 others
- Joint committee
- 323Building management, estate agents and domestic staff · annual accounts 2025
- Establishment unit
- 2.259.901.7438500 Kortrijk, since 02-11-2016
- Financial year end
- 31 December
- Peppol
- Reachable since 19-06-2025
Annual accounts 2025
- ≈ €910,000estimated
- €3.2m▲ 30.2%
- Employeeson 31-12-2025
- 1=
- Filing
- Filed on 01-07-2026, 30 days before the end of the filing period
Insights on Mastermind
Mastermind files the abbreviated format. That format states no turnover. The gross margin rose from €25,790 in 2017 to €510,775 in 2025.
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 Mastermind
- What is the company number of Mastermind?
- The company number of Mastermind is 0665.685.363. The VAT number is the same number with BE in front: BE 0665.685.363.
- Where is Mastermind based?
- The registered office is at Kasteelkaai 8, 8500 Kortrijk.Company details
- What does Mastermind do?
- According to the KBO register, the main activity is development of residential building projects (NACE 68121).
- What is the legal form of Mastermind?
- Mastermind is a private limited company (BV).
- When was Mastermind founded?
- Mastermind was founded on 02-11-2016.
- Is Mastermind still active?
- Yes, Mastermind is an active enterprise in the KBO register.
- How many employees does Mastermind have?
- Mastermind had an average of 0.9 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does Mastermind fall under?
- In its 2025 annual accounts, Mastermind states joint committee 323 (Building management, estate agents and domestic staff).
- What is the turnover of Mastermind?
- The turnover in financial year 2025 is ≈ €910,000. This figure is estimated from the gross margin of €510,775 and 40 comparable companies (NACE 681). It probably lies between €680,000 and €1.5m.
- Is Mastermind profitable?
- In financial year 2025, Mastermind made a profit of €284,568.
- Where can I find the annual accounts of Mastermind?
- Mastermind filed 9 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of Mastermind due?
- Mastermind must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Check which of your other customers you can e-invoice via Peppol.Peppol check Compare this company with its sector.Sector benchmark See what changed in the latest annual accounts.What changed
See how customers, suppliers and banks see your own company and what to improve first.