Masterwines
ActiveMasterwines has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-20k) and a net result of €12k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 18% of 11165 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
11
/ 100
Critical▲ +4 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0▼-100
Solvency44▲+3
Growth32=
Stability100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.99 against 0.83 in 2024), and equity is negative.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-4.9%
Return on assets
2.8%
Age of the figures
8 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 18% of 11165 sector peers (2025).
NBB · sector comparisonPosition among 11165 sector peers
Solvency
better than 18%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-08-2026, 30 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
30 d late
2024
31 d late
2023
21 d early
2022
2 d early
2021
5 d early
2020
30 d late
2019
31 d late
← 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
12-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€-20k▲ 36.5%
2024 · €-32k
2018: €4k
2019: €520
2020: €3k
2021: €5k
2022: €7k
2023: €8k
2024: €-32k
2018 → 2025
Total assets
€411k▲ 11.3%
2024 · €369k
2018: €694k
2019: €610k
2020: €533k
2021: €538k
2022: €564k
2023: €512k
2024: €369k
2018 → 2025
Net result
€12k
2024 · €-40k
2018: €16k
2019: €-3k
2020: €3k
2021: €1k
2022: €2k
2023: €1k
2024: €-40k
2018 → 2025
Working capital
€-3k▲ 94.2%
2024 · €-56k
2018: €96k
2019: €83k
2020: €15k
2021: €6k
2022: €-17k
2023: €-19k
2024: €-56k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€5k-€7k▲ 44.5%€8k▲ 18.6%€-32k€-20k▲ 36.5%
Operating result€20k-€25k▲ 22.1%€29k▲ 18.0%€-15k€28k
Net result€1k-€2k▲ 52.5%€1k▼ 39.6%€-40k€12k
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €28k after a loss of €15k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €411k
Fixed assets
€78k▼ 14.7%
Current assets
€332k▲ 19.9%
Key figures and ratios
EBITDA
€41k▲
2024 · €-534
Cash flow
€25k▲
2024 · €-26k
Solvency
-4.9%▲
2024 · -8.6%
Current ratio
0.99▲
2024 · 0.83
Quick ratio
0.31▼
2024 · 0.33
Debt / equity
-21.44▼
2024 · -12.67
ROE
-57.4%▼
2024 · 126.6%
ROA
2.8%▲
2024 · -10.8%
Interest coverage
2.53▲
2024 · -0.02
Debt
€431k▲
2024 · €400k
Debt ≤ 1 year
€335k▲
2024 · €333k
Debt > 1 year
€95k▲
2024 · €67k
Staff costs
€9k▼
2024 · €17k
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€369k€411k▲
Fixed assets21/28€92k€78k▼
Intangible fixed assets21€10k€5k▼
Tangible fixed assets22/27€81k€73k▼
Land and buildings22€75k€69k▼
Plant, machinery and equipment23€5k€4k▼
Furniture and vehicles24€752€242▼
Financial fixed assets28€400€250▼
Current assets29/58€277k€332k▲
Stocks and contracts in progress3€168k€228k▲
Stocks30/36€168k€228k▲
Amounts receivable within one year40/41€103k€97k▼
Trade receivables40€100k€94k▼
Other amounts receivable41€3k€3k▲
Cash at bank and in hand54/58€5k€7k▲
Deferred charges and accrued income490/1€491€621▲
Equity and liabilities
Total equity and liabilities10/49€369k€411k▲
Equity10/15€-32k€-20k▲
Contributions10/11€19k€19k=
Reserves13€774€774=
Non-distributable reserves130/1€774€774=
Reserves not available under the articles1311€774€774=
Profit (loss) carried forward14€-51k€-39k▲
Amounts payable17/49€400k€431k▲
Amounts payable after more than one year17€67k€95k▲
Financial debts170/4€67k€95k▲
Amounts payable within one year42/48€333k€335k▲
Current portion of amounts payable after more than one year42€11k€17k▲
Financial debts43€210k€200k▼
Credit institutions430/8€210k€200k▼
Trade debts44€45k€63k▲
Suppliers440/4€45k€63k▲
Taxes, remuneration and social security45€43k€22k▼
Taxes450/3€32k€22k▼
Remuneration and social security454/9€11k€629▼
Other amounts payable47/48€24k€33k▲
Income statement
Code20242025
Remuneration, social security and pensions62€17k€9k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€14k€13k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€11k-
Other operating charges640/8€1k€1k▲
Gross operating margin9900€29k€51k▲
Operating profit (loss)9901€-15k€28k▲
Financial income75/76B€4€1▼
Recurring financial income75€4€1▼
Financial charges65/66B€25k€16k▼
Recurring financial charges65€25k€16k▼
Profit (loss) for the period before taxes9903€-40k€12k▲
Income taxes67/77€140-
Profit (loss) for the period9904€-40k€12k▲
Profit (loss) for the period to be appropriated9905€-40k€12k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-51k€-39k▲
Profit (loss) brought forward from the previous period14P€-11k€-51k▼
The notes to these accounts (10 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
30-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 30 days late
2025
31-12
Financial
Back to profitnet €12k
Net result €12k after one loss-making year.
31-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 31 days late
2024
31-12
Financial
Weakest financial yearnet €-40k ▼3139%
Net result drops to €-40k, the lowest in the series; recovery starts the following year.
10-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
29-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
26-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 30 days late
2020
31-12
Financial
Back to profitnet €3k
Net result €3k after one loss-making year.
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 31 days late
2019
26-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
24-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 24 days late
2017
26-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 directors, no change since 2024
Raijmaekers Nathalie
CurrentDirector · since 24-07-2024
24-07-2024
Raijmaekers Nathalie: Appointed as Director
24-07-2024
Hubert Mario: Resigned as Director
Location & real-estate footprint
Registered office, Kontich · 1 establishment unit since 2012
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.
Satenrozen 6A U0062550 KontichGround area
1.5 ha
Building footprint
4,171 m²
Volume, LiDAR
14,880 m³
2 parcels, Flanders · tallest building 8.9 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Masterwines
since 20122.208.906.170
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11024G0341/00A000 | Flanders | 1.3 ha | 1 · 2,300 m² | 0.4 m |
| 11024G0016/00P002 | Flanders | 1,871 m² | 1 · 1,871 m² | 8.9 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels 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
NESTOR
BE 0719.694.072
Elsene · Eq €8k
KimLau
BE 0505.860.740
Riemst · Eq €9k
100% Pol
BE 0766.935.547
Chaumont-Gistoux · Eq €8k
ADVANCED BUSINESS CONSULTING
BE 0884.812.521
Orp-Jauche · Eq €8k
Donkey Wines
BE 0749.798.617
Elsene · Eq €9k
Of 1,043 companies in sector 46341 we hold annual accounts for 530. 227 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded12-04-2012
Fiscal year end31-12
Activities, NACEBEL
46341Wholesale of wines and spirits
47251Retail sale of wines and spirits
Sources
Crossroads Bank for EnterprisesNational Bank · 14 filingsAddress and cadastre registers
Data from official sources, last processed on 12-09-2026. Scores and ratios are computed by Checked and are not a credit decision.