Must-B
ActiveSummary
Must-B has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€10,057) and a net result of -€3,475. Equity is shrinking by ~56.5% per year across the filed fiscal years. Its solvency ranks better than 13% of 14254 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
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Signals
This company filed its last 3 accounts on average 10 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (2)
History
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Financials · fiscal year 2025, micro schema
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Peer companies
Historical observationOf the 1,555 companies that looked in July 2024 the way this one looks now, 4.6% went bankrupt within 24 months and 91% are still going.
- Micro
- 2 to 5 years old
- negative equity
- a small loss
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.2% 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 497,338 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% | 1.9% |
| 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 1,555 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.
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Other operating charges640/8 | €448 | €449 | €677 | ▲ 50.8% |
| Gross operating margin9900 | -€7,122 | -€3,471 | -€2,357 | ▲ 32.1% |
| Operating profit (loss)9901 | -€7,570 | -€3,920 | -€3,035 | ▲ 22.6% |
| Financial charges65/66B | €49 | €44 | €440 | ▲ 912% |
| Recurring financial charges65 | €49 | €44 | €440 | ▲ 912% |
| Profit (loss) for the period before taxes9903 | -€7,618 | -€3,964 | -€3,475 | ▲ 12.3% |
| Profit (loss) for the period9904 | -€7,618 | -€3,964 | -€3,475 | ▲ 12.3% |
| Profit (loss) for the period to be appropriated9905 | -€7,618 | -€3,964 | -€3,475 | ▲ 12.3% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €73,476 | €74,332 | €92,735 | ▲ 24.8% |
| Current assets29/58 | €73,476 | €74,332 | €92,735 | ▲ 24.8% |
| Stocks and contracts in progress3 | €73,040 | €73,040 | €73,040 | = |
| Stocks30/36 | €73,040 | €73,040 | €73,040 | = |
| Amounts receivable within one year40/41 | €204 | €43 | €12,692 | ▲ 29,742% |
| Trade receivables40 | - | - | €11,600 | - |
| Other amounts receivable41 | €204 | €43 | €1,092 | ▲ 2,467% |
| Cash at bank and in hand54/58 | €231 | €1,250 | €7,003 | ▲ 460% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €73,476 | €74,332 | €92,735 | ▲ 24.8% |
| Equity10/15 | -€2,618 | -€6,582 | -€10,057 | ▼ 52.8% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | = |
| Profit (loss) carried forward14 | -€7,618 | -€11,582 | -€15,057 | ▼ 30.0% |
| Amounts payable17/49 | €76,094 | €80,914 | €102,792 | ▲ 27.0% |
| Amounts payable within one year42/48 | €76,058 | €80,878 | €102,792 | ▲ 27.1% |
| Trade debts44 | €180 | €1,000 | €0 | ▼ 100% |
| Suppliers440/4 | €180 | €1,000 | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | - | - | €993 | - |
| Taxes450/3 | - | - | €993 | - |
| Other amounts payable47/48 | €75,878 | €79,878 | €101,799 | ▲ 27.4% |
| Accrued charges and deferred income492/3 | €37 | €37 | - | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | -€7,618 | -€3,964 | -€3,475 | ▲ 12.3% |
| Operating cash flow (approximation) | -€7,618 | -€3,964 | -€3,475 | ▲ 12.3% |
| Change in cash | - | €1,018 | €5,754 | ▲ 465% |
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
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
Directors · office · real estate
1 establishment unit
1 parcel
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 73036B0254/00P000 | Flanders | 3,215 m² | 1 · 181 m² | 9.2 m · 2 fl. |
Linked by address, not proof of ownership
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Identification & contact
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.