MASTERS COMMUNICATION
ActiveMASTERS COMMUNICATION has been active since 1994 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.81M and a net result of €182k. Equity remains stable across the filed fiscal years (±2.1% per year). Its solvency ranks better than 90% of 7027 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
84
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability80▲+9
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €150k at 30 days acceptable
Liquidity ample (current ratio 6.24 against 5.39 in 2024; short-term debt: 8.1% and cash: 13% of total assets), and 8.2% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
91.8%
Return on assets
9.2%
Age of the figures
9 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €1.81M
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 13-07-2026, 18 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
18 d early
2024
28 d early
2023
19 d early
2022
49 d early
2021
37 d early
2020
54 d early
2019
29 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
21-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€1.81M▲ 11.1%
2024 · €1.63M
2018: €1.44M
2019: €1.46M
2020: €1.50M
2021: €1.53M
2022: €1.55M
2023: €1.59M
2024: €1.63M
2018 → 2025
Total assets
€1.97M▲ 12.2%
2024 · €1.75M
2018: €1.64M
2019: €1.60M
2020: €1.61M
2021: €1.61M
2022: €1.61M
2023: €1.64M
2024: €1.75M
2018 → 2025
Net result
€182k▲ 413%
2024 · €35k
2018: €33k
2019: €17k
2020: €45k
2021: €30k
2022: €23k
2023: €38k
2024: €35k
2018 → 2025
Working capital
€834k▲ 51.4%
2024 · €551k
2018: €92k
2019: €160k
2020: €262k
2021: €361k
2022: €441k
2023: €533k
2024: €551k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.53M-€1.55M▲ 1.5%€1.59M▲ 2.4%€1.63M▲ 2.2%€1.81M▲ 11.1%
Operating result€40k-€34k▼ 16.5%€42k▲ 24.1%€40k▼ 5.2%€285k▲ 618%
Net result€30k-€23k▼ 22.7%€38k▲ 63.8%€35k▼ 6.9%€182k▲ 413%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 618% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.97M
Fixed assets
€975k▼ 9.5%
Current assets
€993k▲ 46.8%
Equity and liabilities €1.97M
Equity
€1.81M▲ 11.1%
Provisions
€2k▼ 8.3%
Debt
€159k▲ 26.7%
The debt ratio rises from 7.2% to 8.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€326k▲
2024 · €94k
Cash flow
€223k▲
2024 · €90k
Solvency
91.8%▼
2024 · 92.7%
Current ratio
6.24▲
2024 · 5.39
Quick ratio
6.24▲
2024 · 5.39
Debt / equity
0.09▲
2024 · 0.08
ROE
10.1%▲
2024 · 2.2%
ROA
9.2%▲
2024 · 2.0%
Interest coverage
45.27▲
2024 · 26.87
Debt
€159k▲
2024 · €126k
Debt ≤ 1 year
€159k▲
2024 · €126k
Income taxes
€80k▲
2024 · €15k
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€1.75M€1.97M▲
Fixed assets21/28€1.08M€975k▼
Tangible fixed assets22/27€1.08M€975k▼
Land and buildings22€1.08M€966k▼
Plant, machinery and equipment23€872€7k▲
Furniture and vehicles24€1k€1,000▼
Current assets29/58€676k€993k▲
Amounts receivable within one year40/41€15k€24k▲
Trade receivables40€8k€5k▼
Other amounts receivable41€7k€19k▲
Current investments50/53€585k€702k▲
Cash at bank and in hand54/58€68k€256k▲
Deferred charges and accrued income490/1€8k€10k▲
Equity and liabilities
Total equity and liabilities10/49€1.75M€1.97M▲
Equity10/15€1.63M€1.81M▲
Contributions10/11€74k€74k=
Revaluation surpluses12€11k€11k=
Reserves13€1.53M€1.72M▲
Distributable reserves133€1.53M€1.72M▲
Profit (loss) carried forward14-€0
Investment grants15€5k€5k▼
Provisions and deferred taxes16€3k€2k▼
Deferred taxes168€3k€2k▼
Amounts payable17/49€126k€159k▲
Amounts payable within one year42/48€126k€159k▲
Trade debts44€15k€41k▲
Suppliers440/4€15k€41k▲
Taxes, remuneration and social security45€10k€17k▲
Taxes450/3€6k€7k▲
Remuneration and social security454/9€5k€10k▲
Other amounts payable47/48€100k€101k▲
Income statement
Code20242025
Non-recurring operating income76A-€234k
Remuneration, social security and pensions62€0-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€55k€41k▼
Other operating charges640/8€19k€10k▼
Gross operating margin9900€113k€336k▲
Operating profit (loss)9901€40k€285k▲
Financial income75/76B€14k€21k▲
Recurring financial income75€14k€21k▲
Financial charges65/66B€4k€44k▲
Recurring financial charges65€4k€7k▲
Non-recurring financial charges66B-€36k
Profit (loss) for the period before taxes9903€50k€262k▲
Transfer from deferred taxes780€221€221=
Income taxes67/77€15k€80k▲
Profit (loss) for the period9904€35k€182k▲
Profit (loss) for the period to be appropriated9905€35k€182k▲
Appropriation of the result
Profit (loss) to be appropriated9906€35k€182k▲
Transfer to equity691/2€35k€181k▲
To other reserves6921€35k€181k▲
Profit to be distributed694/7-€833
Return on contributions (dividend)694-€833
The notes to these accounts (9 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
13-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2018net €182k ▲413%
Operating result €285k, net result €182k, both a record.
03-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
12-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
12-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
24-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
07-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
02-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Weakest financial yearnet €17k ▼47%
Net result drops to €17k, the lowest in the series; recovery starts the following year.
12-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
27-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
20-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Waregem · 1 establishment unit since 1995
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.
Wortegemseweg 558790 WaregemGround area
1,931 m²
Building footprint
248 m²
Volume, LiDAR
1,386 m³
Parcel 34452B0827/03M012, Flanders · tallest building 7.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MASTERS COMMUNICATION
since 19952.069.894.282
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34452B0827/03M012 | Flanders | 1,931 m² | 1 · 248 m² | 7.0 m · 2 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.
Public money · subsidies and aid
Flemish government
2023 · 1 entry · 338 EUR awarded · 338 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 338 EUR | 338 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 9,863 companies in sector 73110 we hold annual accounts for 3,755. 1,101 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded16-12-1994
Fiscal year end31-12
Activities, NACEBEL
73110Advertising agencies
74401
Sources
Crossroads Bank for EnterprisesNational Bank · 31 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.