Masters
ActiveSummary
The computed 12-month bankruptcy probability of Masters is 2.3% (moderate). The 2024 annual accounts show equity of €139k and a net result of €51k. Equity is growing by ~38.1% per year across the filed fiscal years. Its solvency ranks better than 64% of 36375 sector peers (fiscal year 2024). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability96▲+9
Solvency84▼-6
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
2.3%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €8k at 30 days only on tighter terms
Liquidity ample (current ratio 2.2 against 2.54 in 2023; short-term debt: 40.7% and cash: 13.6% of total assets), and 40.7% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 31-12-2025, 153 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 4 filingsDeviation from the deadline
2025
not confirmed
2024
153 d late
2023
167 d late
2022
32 d early
2021
136 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
History
Go further with this company
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Financials · fiscal year 2024, micro schema
Equity
€139k▲ 57.8%
2023 · €88k
Total assets
€234k▲ 71.9%
2023 · €136k
Net result
€51k▲ 150%
2023 · €20k
Working capital
€114k▲ 53.2%
2023 · €75k
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
Line2021202220232024
Operating result€55k-€24k▼ 57.0%€25k▲ 6.9%€66k▲ 161%
Net result€44k-€18k▼ 59.5%€20k▲ 14.6%€51k▲ 150%
Equity€50k-€68k▲ 35.6%€88k▲ 30.1%€139k▲ 57.8%
Total assets€120k-€98k▼ 18.1%€136k▲ 39.0%€234k▲ 71.9%
Debt€70k-€30k▼ 56.5%€48k▲ 58.9%€95k▲ 97.7%
Working capital€35k-€53k▲ 50.4%€75k▲ 40.6%€114k▲ 53.2%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 161% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €234k
Fixed assets
€25k ▲ 83.2%
Current assets
€210k ▲ 70.7%
Equity and liabilities €234k
Equity
€139k ▲ 57.8%
Debt
€95k ▲ 97.7%
Debt's share of the balance-sheet total rises from 35.4% to 40.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€75k▲
2023 · €30k
Cash flow
€60k▲
2023 · €26k
Current ratio
2.20▼
2023 · 2.54
Debt to equity
0.69▲
2023 · 0.55
ROE
36.6%▲
2023 · 23.1%
ROA
21.7%▲
2023 · 14.9%
Interest coverage
286.96▲
2023 · 152.13
Debt ≤ 1 year
€95k▲
2023 · €48k
Income taxes
€14k▲
2023 · €5k
Staff costs
€70k▲
2023 · €64k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €2k | - | - |
| Remuneration, social security and pensions62 | €37k | €50k | €64k | €70k | ▲ 9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4k | €5k | €5k | €9k | ▲ 78.7% |
| Other operating charges640/8 | €1k | €751 | €4k | €3k | ▼ 32.5% |
| Gross operating margin9900 | €96k | €79k | €99k | €148k | ▲ 49.5% |
| Operating profit (loss)9901 | €55k | €24k | €25k | €66k | ▲ 161% |
| Financial charges65/66B | €6 | €100 | €200 | €261 | ▲ 30.7% |
| Recurring financial charges65 | €6 | €100 | €200 | €261 | ▲ 30.7% |
| Profit (loss) for the period before taxes9903 | €55k | €23k | €25k | €65k | ▲ 162% |
| Income taxes67/77 | €11k | €6k | €5k | €14k | ▲ 214% |
| Profit (loss) for the period9904 | €44k | €18k | €20k | €51k | ▲ 150% |
| Profit (loss) for the period to be appropriated9905 | €44k | €18k | €20k | €51k | ▲ 150% |
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €120k | €98k | €136k | €234k | ▲ 71.9% |
| Fixed assets21/28 | €15k | €15k | €13k | €25k | ▲ 83.2% |
| Tangible fixed assets22/27 | €15k | €15k | €13k | €25k | ▲ 83.2% |
| Plant, machinery and equipment23 | €853 | €640 | €6k | €8k | ▲ 24.0% |
| Furniture and vehicles24 | €14k | €14k | €7k | €17k | ▲ 136% |
| Current assets29/58 | €105k | €83k | €123k | €210k | ▲ 70.7% |
| Amounts receivable within one year40/41 | €100k | €74k | €112k | €178k | ▲ 58.5% |
| Trade receivables40 | €90k | €13k | €18k | €30k | ▲ 63.5% |
| Other amounts receivable41 | €10k | €60k | €94k | €148k | ▲ 57.5% |
| Cash at bank and in hand54/58 | €5k | €10k | €11k | €32k | ▲ 198% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €120k | €98k | €136k | €234k | ▲ 71.9% |
| Equity10/15 | €50k | €68k | €88k | €139k | ▲ 57.8% |
| Contributions10/11 | €6k | €6k | €6k | €6k | = |
| Capital10 | €6k | €6k | €6k | €6k | = |
| Issued capital100 | €6k | €6k | €6k | €6k | = |
| Profit (loss) carried forward14 | €44k | €62k | €82k | €133k | ▲ 62.1% |
| Amounts payable17/49 | €70k | €30k | €48k | €95k | ▲ 97.7% |
| Amounts payable within one year42/48 | €70k | €30k | €48k | €95k | ▲ 97.7% |
| Trade debts44 | €59k | €14k | €42k | €74k | ▲ 74.8% |
| Suppliers440/4 | €59k | €14k | €42k | €74k | ▲ 74.8% |
| Taxes, remuneration and social security45 | €11k | €16k | €6k | €21k | ▲ 265% |
| Taxes450/3 | €11k | €16k | €5k | €19k | ▲ 314% |
| Remuneration and social security454/9 | €37 | - | €1k | €2k | ▲ 83.7% |
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €44k | €18k | €20k | €51k | ▲ 150% |
| + Depreciation and write-downs630 | €4k | €5k | €5k | €9k | ▲ 78.7% |
| Operating cash flow (approximation) | €48k | €22k | €26k | €60k | ▲ 135% |
| Investment in fixed assets (approximation) | - | €-5k | €-4k | €-21k | ▼ 406% |
| Change in cash | - | €5k | €876 | €21k | ▲ 2,325% |
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
2025
31-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 153 days late
14-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 167 days late
2024
31-12
Financial
Highest result since 2021net €51k ▲150%
Operating result €66k, net result €51k, both a record.
31-12
Financial
Equity above €100kEq €139k ▲57.8%
4 profitable years in a row build equity to €139k.
2023
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet €18k ▼59.5%
Net result drops to €18k, the lowest in the series; recovery starts the following year.
14-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 136 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Gent · 1 establishment unit since 2020
Ground area
90 m²
Building footprint
90 m²
Volume, LiDAR
569 m³
Parcel 44021A2456/00_000, Flanders · tallest building 13.6 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Doornzelestraat 3, 9000 Gent
since 20202.306.724.831
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44021A2456/00_000 | Flanders | 90 m² | 1 · 90 m² | 13.6 m · 2 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.
Similar companies · same sector, comparable size
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Of 8,462 companies in sector 43120 we hold annual accounts for 3,231. 2,656 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
Founded14-07-2020
Fiscal year end31-12
Activities, NACEBEL 2025
43120Site preparation
Scores and ratios are computed by Checked and are not a credit decision.