McMASTER CONSULTING
ActiveSummary
McMASTER CONSULTING has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €20,460 and a net result of €157,462. Equity remains stable across the filed fiscal years (±0% per year). Its solvency ranks better than 13% of 32023 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency30▼-70
Growth78=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,000 at 30 days acceptable
Liquidity tight (current ratio 1.05 against 4.64 in 2024; short-term debt: 94.6% and cash: 20.6% of total assets), and 94.6% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
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
5.4%
Return on assets
41.2%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 13% of 32023 sector peers (2025).
NBB · sector comparisonPosition among 32023 sector peers
Solvency
better than 13%
← weakest
strongest →
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 08-06-2026, 53 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
53 d early
2024
on the day
2023
44 d early
2022
3 d early
2021
12 d early
2020
4 d early
2019
21 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 20 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
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. Usually files around 19 July (4 of the last 5 filed years within 31 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
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Financials · fiscal year 2025, micro schema
Equity
€20,460▼ 87.7%
2024 · €166,266
Total assets
€381,755▲ 80.5%
2024 · €211,476
Net result
€157,462▲ 8.0%
2024 · €145,806
Working capital
€19,650▼ 88.1%
2024 · €164,510
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€169,269▲ 4.9%€179,496▲ 6.0%€189,319▲ 5.5%€190,897▲ 0.8%€206,280▲ 8.1%
Net result€132,398above the sector's middle half▲ 6.2%€141,050above the sector's middle half▲ 6.5%€150,144above the sector's middle half▲ 6.4%€145,806above the sector's middle half▼ 2.9%€157,462above the sector's middle half▲ 8.0%
Equity€277,902above the sector's middle half▲ 99.3%€20,460below the sector's middle half▼ 92.6%€20,460below the sector's middle half=€166,266within the sector's middle half▲ 713%€20,460below the sector's middle half▼ 87.7%
Total assets€301,811within the sector's middle half▲ 61.0%€461,825within the sector's middle half▲ 53.0%€205,203within the sector's middle half▼ 55.6%€211,476within the sector's middle half▲ 3.1%€381,755within the sector's middle half▲ 80.5%
Debt€23,910▼ 50.3%€441,365▲ 1,746%€184,743▼ 58.1%€45,211▼ 75.5%€361,295▲ 699%
Working capital€276,746above the sector's middle half▲ 102%€18,587within the sector's middle half▼ 93.3%€19,358within the sector's middle half▲ 4.1%€164,510above the sector's middle half▲ 750%€19,650within the sector's middle half▼ 88.1%
Solvency92.1%above the sector's middle half▲ 17.7pp4.4%below the sector's middle half▼ 87.6pp10.0%below the sector's middle half▲ 5.5pp78.6%within the sector's middle half▲ 68.7pp5.4%below the sector's middle half▼ 73.3pp
Current ratio12.57above the sector's middle half▲ 8.721.04below the sector's middle half▼ 11.531.10within the sector's middle half▲ 0.064.64within the sector's middle half▲ 3.531.05within the sector's middle half▼ 3.58
Return on assets (ROA)43.9%above the sector's middle half▼ 22.6pp30.5%above the sector's middle half▼ 13.3pp73.2%above the sector's middle half▲ 42.6pp68.9%above the sector's middle half▼ 4.2pp41.2%above the sector's middle half▼ 27.7pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 8% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €381,755
Fixed assets
€810 ▼ 53.9%
Current assets
€380,945 ▲ 81.6%
Equity and liabilities €381,755
Equity
€20,460 ▼ 87.7%
Debt
€361,295 ▲ 699%
Debt's share of the balance-sheet total rises from 21.4% to 94.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€207,225▲
2024 · €192,085
Cash flow
€158,408▲
2024 · €146,994
Debt to equity
17.66▲
2024 · 0.27
ROE
769.6%▲
2024 · 87.7%
Interest coverage
498.11▲
2024 · 492.64
Debt ≤ 1 year
€361,295▲
2024 · €45,211
Income taxes
€52,742▲
2024 · €44,702
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,153 companies that looked in July 2024 the way this one looks now, 1.7% went bankrupt within 24 months and 96% are still going.
- Micro
- 5 to 10 years old
- solvency under 10%
- a profit of 5% of the balance sheet or more
1.7%
went bankrupt
2.2%
stopped otherwise
96%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.6% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 2,153 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,156 | €1,595 | €771 | €1,188 | €945 | ▼ 20.4% |
| Other operating charges640/8 | €787 | €794 | €870 | €899 | €992 | ▲ 10.3% |
| Gross operating margin9900 | €171,212 | €181,885 | €190,960 | €192,984 | €208,217 | ▲ 7.9% |
| Operating profit (loss)9901 | €169,269 | €179,496 | €189,319 | €190,897 | €206,280 | ▲ 8.1% |
| Financial income75/76B | €1,966 | €4,696 | €6,821 | - | €4,341 | - |
| Recurring financial income75 | €1,966 | €4,696 | €6,821 | - | €4,341 | - |
| Financial charges65/66B | €414 | €192 | €613 | €390 | €416 | ▲ 6.7% |
| Recurring financial charges65 | €414 | €192 | €613 | €390 | €416 | ▲ 6.7% |
| Profit (loss) for the period before taxes9903 | €170,820 | €183,999 | €195,527 | €190,507 | €210,204 | ▲ 10.3% |
| Income taxes67/77 | €38,423 | €42,949 | €45,383 | €44,702 | €52,742 | ▲ 18.0% |
| Profit (loss) for the period9904 | €132,398 | €141,050 | €150,144 | €145,806 | €157,462 | ▲ 8.0% |
| Profit (loss) for the period to be appropriated9905 | €132,398 | €141,050 | €150,144 | €145,806 | €157,462 | ▲ 8.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €301,811 | €461,825 | €205,203 | €211,476 | €381,755 | ▲ 80.5% |
| Fixed assets21/28 | €1,156 | €1,873 | €1,102 | €1,756 | €810 | ▼ 53.9% |
| Tangible fixed assets22/27 | €1,156 | €1,873 | €1,102 | €1,756 | €810 | ▼ 53.9% |
| Furniture and vehicles24 | €1,156 | €1,873 | €1,102 | €1,756 | €810 | ▼ 53.9% |
| Current assets29/58 | €300,655 | €459,952 | €204,100 | €209,721 | €380,945 | ▲ 81.6% |
| Amounts receivable after more than one year29 | €54,920 | €52,475 | - | - | - | - |
| Other amounts receivable291 | €54,920 | €52,475 | - | - | - | - |
| Amounts receivable within one year40/41 | €80,123 | €134,574 | €136,582 | €94,034 | €301,383 | ▲ 221% |
| Trade receivables40 | €62,769 | €10,878 | €115,405 | €86,235 | €141,513 | ▲ 64.1% |
| Other amounts receivable41 | €17,355 | €123,696 | €21,178 | €7,798 | €159,870 | ▲ 1,950% |
| Cash at bank and in hand54/58 | €164,608 | €271,948 | €66,052 | €114,197 | €78,502 | ▼ 31.3% |
| Deferred charges and accrued income490/1 | €1,005 | €954 | €1,465 | €1,490 | €1,060 | ▼ 28.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €301,811 | €461,825 | €205,203 | €211,476 | €381,755 | ▲ 80.5% |
| Equity10/15 | €277,902 | €20,460 | €20,460 | €166,266 | €20,460 | ▼ 87.7% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €257,442 | - | - | €145,806 | - | - |
| Amounts payable17/49 | €23,910 | €441,365 | €184,743 | €45,211 | €361,295 | ▲ 699% |
| Amounts payable within one year42/48 | €23,910 | €441,365 | €184,743 | €45,211 | €361,295 | ▲ 699% |
| Trade debts44 | €2,261 | €9,501 | €1,512 | €90 | €495 | ▲ 453% |
| Suppliers440/4 | €2,261 | €9,501 | €1,512 | €90 | €495 | ▲ 453% |
| Taxes, remuneration and social security45 | €21,648 | €33,372 | €33,087 | €20,387 | €57,532 | ▲ 182% |
| Taxes450/3 | €21,648 | €33,372 | €33,087 | €20,387 | €57,532 | ▲ 182% |
| Other amounts payable47/48 | - | €398,492 | €150,144 | €24,734 | €303,268 | ▲ 1,126% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €132,398 | €141,050 | €150,144 | €145,806 | €157,462 | ▲ 8.0% |
| + Depreciation and write-downs630 | €1,156 | €1,595 | €771 | €1,188 | €945 | ▼ 20.4% |
| Operating cash flow (approximation) | €133,554 | €142,645 | €150,915 | €146,994 | €158,408 | ▲ 7.8% |
| Investment in fixed assets (approximation) | - | -€2,312 | €0 | -€1,841 | €0 | ▲ 100% |
| Change in cash | - | €107,340 | -€205,895 | €48,145 | -€35,695 | ▼ 174% |
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
Next filing, fiscal year 2026, expected by
2026
08-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2019net €157,462 ▲8%
Operating result €206,280, net result €157,462, both a record.
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Liquidity quadruplescurrent ratio 4.64
Current ratio from 1.10 to 4.64; short-term debt falls from €184,743 to €45,211.
31-12
Financial
Equity above €150,000Eq €166,266 ▲713%
6 profitable years in a row build equity to €166,266.
17-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
28-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
19-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Liquidity triplescurrent ratio 12.57
Current ratio from 3.85 to 12.57; short-term debt falls from €48,099 to €23,910.
31-12
Financial
Equity above €200,000Eq €277,902 ▲99.3%
3 profitable years in a row build equity to €277,902.
27-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Equity above €100,000Eq €139,404 ▲849%
2 profitable years in a row build equity to €139,404.
10-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
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, Elsene · 1 establishment unit since 2019
Ground area
253 m²
Building footprint
109 m²
Volume, LiDAR
1,412 m³
Parcel 21009A0820/00C000, Brussels · tallest building 18.0 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
McMASTER CONSULTING
since 20192.286.097.879
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21009A0820/00C000 | Brussels | 253 m² | 1 · 109 m² | 18.0 m · 5 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.
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Of 82,601 companies in sector 70200 we hold annual accounts for 52,615. 30,781 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
Founded28-02-2019
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0721708308
Also
9925:BE0721708308
Registered
12-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.