Turnover
≈ €260,000 estimated
The micro format states no turnover.
MASTERWERF
Overview
Lifetime
1 annual account with figurespeak €64,395 (2025)
€64,395
peak €33,907 (2025)
€33,907
peak €36,907 (2025)
€36,907
€40,197
Board1 name since 2024
1 directorCOCERJUC Marius
Documentsfilings and deeds
02-04-202628 days before the deadline
2025micro format
First year with figures
Key points
from the 2025 annual accountsStarting capital
€3,000 100 shares
Checked score
72
Healthy
Financially stronger than 72% of micro companies in specialised construction (NACE 43)
Probability in this band: 0.55% to 1.5%
Bankruptcy probability within 12 months
0.6% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.7% across 47,693 companies (NACE 43, micro).
About 6 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
11-2025: 1.9%
12-2025: 1.9%● unchanged vs 11-2025
01-2026: 2.3%▲ +0.4 percentage points vs 12-2025
02-2026: 2.4%▲ +0.1 percentage points vs 01-2026
03-2026: 2.7%▲ +0.3 percentage points vs 02-2026
04-2026: 2.7%● unchanged vs 03-2026
05-2026: 3.0%▲ +0.3 percentage points vs 04-2026
06-2026: 3.0%● unchanged vs 05-2026
07-2026: 2.9%▼ -0.1 percentage points vs 06-2026
08-2026: 3.0%▲ +0.1 percentage points vs 07-2026
09-2026: 3.3%▲ +0.3 percentage points vs 08-2026highest value
10-2026: 0.6%▼ -2.7 percentage points vs 09-2026lowest value
11-2026: 0.6%● unchanged vs 10-2026lowest value
Financial strengthStrong
Score breakdown
raises risk
Founded in 2024
Size: total assets €77,104
lowers risk
Liquidity: current ratio 1.14, cash €36,219
Equity €36,907 (47.9% of total assets)
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 43, micro). It does better than 52% of them on solvency, 72% on liquidity and 92% on profitability.
The bankruptcy probability was computed on 09-11-2026 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 30-09-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% 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, 39,278 companies had the same profile as MASTERWERF has now. Each dot stands for 99 companies, two years later.
95.8%
were still trading
2.3%
stopped another way
1.8%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MASTERWERF itself: 0.6% within 12 months.
Test of the method
The method was tested on the 497,447 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 39,278 companies, not a prediction for MASTERWERF. 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 €2,500 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.14, below the usual 1.5. Short-term debt is 52.1% and cash 47% of total assets. 52.1% 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 30-09-2025 was due by 30-04-2026 and was filed on 02-04-2026, 28 days ahead of the deadline.
NBB · 1 filingDeviation from the deadline
2025
28 days early
← before the deadline
after the deadline →
Searched, nothing found (1)
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:1014595947
Incorporation
Founding capital of €3,000, 100 shares · Founder: COCERJUC Marius · Appointment: COCERJUC Marius (director) · published on 07-10-2024 · Gazette deed
First establishment
Steenweg 583, Denderleeuw
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| MASTERWERF Denderleeuw | €77,104 | €64,395 | 47.9% | - |
| JVO Window Beveren-Kruibeke-Zwijndrecht | €75,837 | €57,716 | 44.9% | - |
| INTERIEURMAATWERK PEETERS Westerlo | €77,905 | €58,101 | 76.1% | - |
| ENTREPRISE KENIS Incourt | €80,253 | €68,581 | 72.0% | - |
| XYLOO Kraainem | €72,324 | €57,144 | 35.4% | - |
| HD-INTERIORS Kuurne | €73,682 | €69,861 | 71.5% | - |
| Châssisfil Rebecq | €71,501 | €67,980 | 66.2% | - |
These companies have the same main activity as MASTERWERF: joinery installation (NACE 43320). They are comparable in size and age: total assets between €71,500 and €80,300, founded in 2024.
Official details
Source: KBO- Status
- Active since 03-10-2024Normal situation
- Activity
- Joinery installationNACE 43320and 5 others
- Establishment unit
- 2.365.191.1849470 Denderleeuw, since 03-10-2024
- Financial year end
- 30 September
- Peppol
- Reachable since 26-12-2025
Annual accounts to 30-09-2025
- €64,395
- €33,907
- €36,907
- €77,104
- Employeeson 30-09-2025
- 1
- Filing
- Filed on 02-04-2026, 28 days before the end of the filing period
Insights on MASTERWERF
MASTERWERF has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €36,907 and a net result of €33,907.
Its solvency ranks better than 51% of 35,136 sector peers (NACE 43, financial year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Financials
Annual accounts 2025
micro format, filed on 02-04-2026, 28 days before the deadline€64,395
€49,855
€33,907
€5,597
47.9%
1.14
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €260,000. Estimated: probably between €190,000 and €400,000.
Balance sheet
balance sheet total €77,104 on 30-09-2025What the company ownsHow it is paid for
Position in the sector
47.9%
Higher than 51% of 35,136 companies in 2025.
1.14
Higher than 27% of 34,510 companies in 2025.
44.0%
Higher than 93% of 34,711 companies in 2025.
MASTERWERF
Middle half of the sector
80% of the sector
Micro accounts in specialised construction (NACE 43)
Net result: top quarter · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
Staff
€5,700
Staff costs divided by the average number of full-time equivalents.
+1 person
people who joined
people who left
In 2025, 1 person joined and nobody left.
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 |
|---|---|---|
| Balance sheet: assets | ||
20/58 |
77,104 | |
21/28 |
31,310 | |
22/27 |
31,310 | |
23 |
14,834 | |
24 |
16,476 | |
29/58 |
45,793 | |
40/41 |
7,943 | |
40 |
5,601 | |
41 |
2,343 | |
54/58 |
36,219 | |
490/1 |
1,631 | |
| Balance sheet: equity and liabilities | ||
10/49 |
77,104 | |
10/15 |
36,907 | |
10/11 |
3,000 | |
13 |
33,907 | |
133 |
33,907 | |
17/49 |
40,197 | |
42/48 |
40,197 | |
43 |
15,000 | |
430/8 |
15,000 | |
44 |
1,925 | |
440/4 |
1,925 | |
45 |
3,863 | |
450/3 |
1,195 | |
454/9 |
2,667 | |
47/48 |
19,409 | |
| Income statement | ||
9900 |
64,395 | |
62 |
5,700 | |
630 |
8,391 | |
640/8 |
449 | |
9901 |
49,855 | |
75/76B |
476 | |
75 |
476 | |
65/66B |
303 | |
65 |
303 | |
9903 |
50,028 | |
67/77 |
16,121 | |
9904 |
33,907 | |
9905 |
33,907 | |
| Appropriation of the result | ||
9906 |
33,907 | |
691/2 |
33,907 | |
6921 |
33,907 | |
| Social balance sheet | ||
9087 |
1 | |
Hours worked1013 |
327 | |
| Document | ||
The notes to these accounts have 6 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 02-04-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 02-04-2026 | 2026-00071202 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 |
|---|---|---|
| 58,246 | ||
| 42,298 | ||
| 39,701 | ||
| 5,597 | ||
| 47.9% | ||
| 1.14 | ||
| 1.09 | ||
| 91.9% | ||
| 44.0% | ||
| over 100 |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Social balance sheet
| Item | 30-09-2025 |
|---|---|
| Employees at the balance-sheet date | 1 |
| full-time | 0 |
| part-time | 1 |
| in full-time equivalents | 0.5 |
| 0.6 | |
| On a permanent contract | 1 |
| Joined | 1 |
| Left | 0 |
Source: social balance sheet in the 2025 annual accounts
Investments
fixed assets acquired| Item | 30-09-2025 |
|---|---|
| Tangible fixed assets | €39,701 |
| €8,391 |
Source: notes to the 2025 annual accounts (statement of fixed assets)
Insights on MASTERWERF
Debt's share of the balance-sheet total is 52.1%.
Board & ownership
Board
1 director, since incorporationDirector (not named in the articles)
appointed by deed of 07-10-2024
term without a fixed end
listed in the 2025 annual accounts, filed on 02-04-2026
Mandates through the years
1 name, the dashed line is todayCOCERJUC Marius
Director (not named in the articles)
Director (not named in the articles)
Board
Mandates as a list
- COCERJUC Marius
- Director (not named in the articles), appointed by deed of 07-10-2024, still in office
Control
Capital
- Contribution
- €3,000
- Shares
- 100
- Contribution per share
- €30
- Equity per share
- €369 in 2025
- Source
- deed of 07-10-2024
Articles of association
deed of 07-10-2024 (in Dutch)- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimited
- Daily managementDay-to-day management handles the everyday running of the business without the full board.
- The board decides whether the delegates act alone or jointly
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Third Friday of March at 11:00
- Statutory auditorA statutory auditor is a registered auditor who checks the annual accounts. Small companies need not have one. According to the deed, the legal criteria do not require one here.
- No statutory auditor
- Auditor ruleThe articles set how a statutory auditor is appointed and what they check.
- “Hernieuwbare termijn van drie jaar, wanneer door de wet vereist en binnen wettelijke grenzen”
Shareholders
At incorporation
deed of 07-10-2024 ↗
- COCERJUC Marius 100 shares (100%) · €3,000
Network & group
No group
MASTERWERF has no parent and no holdings in its annual accounts. COCERJUC Marius is the only director. MASTERWERF shares no director with another company.
Timeline
Timeline
4 events since 2024Filings
Establishments
202420252026
2026
Annual accounts 2025 filed NBBmicro format · 28 days before the deadline
2025
Registered in the Peppol Directory Reachable for e-invoices through 0208:1014595947
2024
IncorporationFounding capital of €3,000, 100 shares · Founder: COCERJUC Marius · Appointment: COCERJUC Marius (director) · published on 07-10-20248 points ▸
- Founder, COCERJUC Marius
- Founding capital, €3,000, 100 shares
- 100 shares
- Registered office clause, Steenweg 583, 9470 Denderleeuw
- Board rule, 1
- Director appointment, COCERJUC Marius (director (not named in the articles))
- Permanent representative, COCERJUC Marius
- Power of attorney, Gilles VAN OUDENHOVE
- The deed holds 3 more points.
First establishment Steenweg 583, Denderleeuw
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
Company details
Identity
- Enterprise number
- 1014.595.947
- VAT number
- BE 1014.595.947
- Peppol ID
- 0208:1014595947
- Legal form
- Private limited company
- Status
- Active, normal situation
- Founded
- 03-10-2024
- Financial year
- ends on 30 September
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Third Friday of March at 11:00deed of 07-10-2024 (in Dutch)
- Peppol
- Reachable since 26-12-2025Follow this company and you will hear the next morning if it leaves the Peppol register.
- Name
- MASTERWERF in Dutch
- Entity type
- Legal entity
- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimiteddeed of 07-10-2024 (in Dutch)
- Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
- “Vlaams Gewest”deed of 07-10-2024 (in Dutch)
Activities
NACEBEL 2025VAT activities
43320
Joinery installation main activity
43410
Roofing work
Social security (RSZ) activities
41001
General construction of residential buildings main activity
Codes under NACEBEL 2008
43320
Joinery installation main activity
43390
Specialised construction activities
43910
Specialised construction activities
43994
Specialised construction activities
43999
Specialised construction activities
- PurposeThe purpose describes the activities the company may carry out under its articles.
- “Schrijnwerken; Stukadoorswerken; Pleisterwerken; Isolatiewerken; Totaal inrichting van gebouwen; Uitvoeren van elektrische…”deed of 07-10-2024 (in Dutch)
27 activities
- Schrijnwerken
- Stukadoorswerken
- Pleisterwerken
- Isolatiewerken
- Totaal inrichting van gebouwen
- Uitvoeren van elektrische installatietechnieken en algemene elektriciteitswerken
- De aan- en verkoop van alle bouwmaterialen, elektrische apparatuur, elektrische en elektronische materialen
- Uitvoeren sanitaire werkzaamheden, loodgieterswerk,…
- Gyprocwerken
- Overige gespecialiseerde bouwwerkzaamheden
- Fundering en ruwbouwwerken
- Plaatsen van vloerbedekking en wandbekleding
- De volledige afwerking van gebouwen, in de ruimste zin van het woord
- Diverse klusjes
- Projectontwikkeling m.b.t. onroerende goederen
- Tuin-en landschapsverzorging, aanleggen van tuinen en opritten, plaatsen van omheiningen en afsluiting, grond-en afbraakwerken
- Optrekken van de ruwbouw van gebouwen
- Metsel- en betonwerken en sloopwerken
- Detail- en groothandel in bouwmaterialen
- Handelsbemiddeling in diverse goederen
- Installeren, handel drijven en onderhouden van airco’s, warmtepompen, zonnepanelen, ventilatiesystemen
- Het bouwen, verbouwen, inrichten, totaal afwerkingen van gebouwen – woningen
- Monteren/fabricage van zelfvaardigde metalen constructiewerken
- Het uitoefenen van alle managements-, bestuurders-, consulting- en beheersactiviteiten
- Het organiseren, ondersteunen en uitvoeren van projectmanagement, projectleiding, organisatieadvies
- Het verlenen van advies-en/of dienstverlening aan bedrijven, privépersonen en instellingen
- Het verkopen, beheren, verhuren, renoveren, verkavelen,… van onroerende goederen al dan niet gemeubeld, en bedrijfsmaterieel en roerende goederen van eender welke aard
Registered office and establishments
1 establishment| Establishment | Since | Unit number |
|---|---|---|
| Steenweg 583 registered office 9470 Denderleeuw | 03-10-2024 | 2.365.191.184 |
Invoicing and payment
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 1014.595.947