MASU Works
ActiveFrom the official registers: KBO 10 annual accounts at the National Bank publications in the Belgian Official Gazette
Summary
The computed 12-month bankruptcy probability of MASU Works is 2.0% (moderate). The 2025 annual accounts show negative equity (-€25,538) and a net result of -€32,399. Equity has been shrinking by about 49% per year since 2018. Its solvency ranks better than 5% of 595 sector peers (NACE 33, financial year 2025). The company has been active since 2015 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Official details
KBO- Status
- Active since 30-04-2015 Normal situation
- Legal form
- Private limited company
- Registered office
- Wortegemstraat (Nok) 22, 9771 Kruisem
- Activity
- Installation of industrial machinery and equipment NACE 33200and 5 others
- Establishment unit
- 2.241.693.754 9771 Kruisem, since 08-05-2015
- Financial year end
- 31 December
- Peppol
- Reachable since 06-01-2026
Financial position
- Bankruptcy probabilitywithin 12 months
- 2.0%
Annual accounts 2025
- Gross margin
- -€9,208
- Loss
- €32,399
- Equity
- -€25,538
- Total assets
- €142,467
- ▲ 44.6%
Turnover not published (abbreviated format)2025 accounts filed 126 days before the deadline
Filed on 27-03-2026PDF
Score breakdownraises riskLoss of €32,399 (financial year 2025)Negative equity -€25,538Sector: Repair, maintenance and installation of machinery and equipment (NACE 33)lowers riskSize: total assets €142,467Show the evidence
Checked score
Score 2025
51
/ 100
Fair
Probability in this band: 1.5% to 4.2%
Financially stronger than 4% of micro companies in repair and installation of machinery (NACE 33)
Financial strength · tick: 2024
Weak
Solvency
7-25
equity -17.9% of total assets
Liquidity
5=
short-term debt 115.8% · cash 3.6%
Profitability
0-70
return on assets -22.7%
Bankruptcy probability within 12 months
2.0%
Moderate
0%0.5%1.5%4%10%≥ 25%
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
11-2024: 1.3%
12-2024: 1.3%● unchanged vs 11-2024
01-2025: 1.3%● unchanged vs 12-2024
02-2025: 1.3%● unchanged vs 01-2025
03-2025: 1.3%● unchanged vs 02-2025
04-2025: 1.3%● unchanged vs 03-2025
05-2025: 1.3%● unchanged vs 04-2025
06-2025: 1.3%● unchanged vs 05-2025
07-2025: 1.4%▲ +0.1 percentage points vs 06-2025
08-2025: 0.8%▼ -0.6 percentage points vs 07-2025
09-2025: 0.8%● unchanged vs 08-2025
10-2025: 0.7%▼ -0.1 percentage points vs 09-2025
11-2025: 0.7%● unchanged vs 10-2025
12-2025: 0.7%● unchanged vs 11-2025
01-2026: 0.7%● unchanged vs 12-2025
02-2026: 0.7%● unchanged vs 01-2026lowest value
03-2026: 0.7%● unchanged vs 02-2026
04-2026: 0.7%● unchanged vs 03-2026
05-2026: 2.1%▲ +1.4 percentage points vs 04-2026highest value
06-2026: 2.1%● unchanged vs 05-2026
07-2026: 2.1%● unchanged vs 06-2026
08-2026: 2.0%▼ -0.1 percentage points vs 07-2026
09-2026: 2.0%● unchanged vs 08-2026
10-2026: 2.0%● unchanged vs 09-2026
No credit on open account
Liquidity is insufficient, with a current ratio of 0.37 (0.62 in 2024), below 1. Short-term debt is 115.8% and cash 3.6% of total assets. Equity is negative.
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 33, micro). It does better than 6% of them on solvency, 4% on liquidity, 4% on profitability and 1% on growth.
The bankruptcy probability was computed on 31-10-2026 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.
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).
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Signals
Six signals.
lowers riskraises riskneutral
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€25,538
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 27-03-2026, 126 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
126 days early
2024
21 days early
2023
43 days early
2022
21 days early
2021
18 days early
2020
4 days early
2019
31 days early
← 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 38 days before the deadline. In the sector (NACE 33), the median for financial year 2024 was 3 days before the deadline, and 39% 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 10 July (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsWhere today falls in the filing period
01-11-2026 today31-12-2026 year end31-07-2027 deadline
Key points
- Risk: Negative equitydebts exceed assets in financial year 2025 -€25,538 View
- Caution: Lower solvency than 94% of companies in repair and installation of machinerysector median 37.7% · 595 companies -17.9% View
- Positive: Filed on time since financial year 2019accounts within the deadline every year 7 years View
Documents
Annual accounts at the NBB
- Annual accounts 2025filed on 27-03-2026
- Annual accounts 2024filed on 10-07-2025
- Annual accounts 2023filed on 18-06-2024
- Annual accounts 2022filed on 10-07-2023
Acts in the Belgian Official Gazette
- Legal-form change · Resignations & appointmentsact of 08-02-2023
Articles and registers
- Coordinated articles of associationnotaries' database
- Entry in the KBO registerKBO Public Search
Key facts about MASU Works
- What is the company number of MASU Works?
- The company number of MASU Works is 0629.719.347. The VAT number is the same number with BE in front: BE 0629.719.347.
- Where is MASU Works based?
- The registered office is at Wortegemstraat (Nok) 22, 9771 Kruisem.Company details
- What does MASU Works do?
- According to the KBO register, the main activity is installation of industrial machinery and equipment (NACE 33200).
- What is the legal form of MASU Works?
- The legal form of MASU Works is Private limited company (BV).
- When was MASU Works founded?
- MASU Works was founded on 30-04-2015.
- Is MASU Works still active?
- Yes, MASU Works is an active enterprise in the KBO register.
- What is the turnover of MASU Works?
- The annual accounts for financial year 2025 state no turnover. The abbreviated format does not require it.Financials
- Is MASU Works profitable?
- In financial year 2025, MASU Works made a loss of €32,399.
- Where can I find the annual accounts of MASU Works?
- MASU Works filed 10 annual accounts with the National Bank of Belgium, the latest for financial year 2025.Annual accounts 2025 (PDF)
- When are the next annual accounts of MASU Works due?
- MASU Works must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Companies linked to MASU Works
Comparable companies
These companies have the same main activity as MASU Works: installation of industrial machinery and equipment (NACE 33200). They are comparable in size and age: total assets between €81,200 and €222,000, founded between 2009 and 2018.
| Company | Total assets | Gross margin |
|---|---|---|
| MASU Works Kruisem | €142,467 | -€9,208 |
| MAXELE Boechout | €124,052 | -€6,344 |
| METHEORE Seraing | €140,996 | -€7,617 |
| DUCHATEL Denderleeuw | €103,421 | €284 |
| ROTECH SERVICE CONTRACTER Dilsen-Stokkem | €221,857 | -€10,740 |
| PSJ - SOLUTIONS Lommel | €117,530 | -€15,510 |
| Jacklo Automation Verviers | €81,215 | -€26,124 |
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