Payroll Masters
ActivePayroll Masters has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €84k and a net result of €-9k. Equity is growing by ~29% per year across the filed fiscal years. Its solvency ranks better than 28% of 31662 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
49
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability23▼-69
Solvency52▼-4
Growth52▼-26
Track record94
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4k at 30 days acceptable
Liquidity tight (current ratio 1.35 against 1.41 in 2024; short-term debt: 73.1% and cash: 9% of total assets), and 73.1% of the assets are financed with debt.
Credit advice for your own amount and term
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
Sector 70
lower
← 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
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
26.9%
Return on assets
-2.7%
Age of the figures
9 mo
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 · 3 filingsDeviation from the deadline
2025
53 d early
2024
36 d early
2023
61 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
21-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€84k▼ 9.2%
2024 · €93k
2023: €35k
2024: €93k
2023 → 2025
Total assets
€313k▲ 3.3%
2024 · €303k
2023: €122k
2024: €303k
2023 → 2025
Net result
€-9k
2024 · €57k
2023: €33k
2024: €57k
2023 → 2025
Working capital
€81k▼ 5.7%
2024 · €86k
2023: €31k
2024: €86k
2023 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line202320242025Trend
Equity€35k-€93k▲ 162%€84k▼ 9.2%
Operating result€44k-€92k▲ 109%€22k▼ 76.7%
Net result€33k-€57k▲ 71.8%€-9k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 77% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €313k
Fixed assets
€3k▼ 52.8%
Current assets
€310k▲ 4.6%
Equity and liabilities €313k
Equity
€84k▼ 9.2%
Debt
€229k▲ 8.8%
The debt ratio rises from 69.4% to 73.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€25k▼
2024 · €95k
Cash flow
€-5k▼
2024 · €60k
Solvency
26.9%▼
2024 · 30.6%
Current ratio
1.35▼
2024 · 1.41
Quick ratio
1.35▼
2024 · 1.41
Debt / equity
2.72▲
2024 · 2.27
ROE
-10.2%▼
2024 · 61.8%
ROA
-2.7%▼
2024 · 18.9%
Interest coverage
0.97▼
2024 · 6.43
Debt
€229k▲
2024 · €210k
Debt ≤ 1 year
€229k▲
2024 · €210k
Income taxes
€4k▼
2024 · €20k
Staff costs
€716k▲
2024 · €659k
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€303k€313k▲
Fixed assets21/28€7k€3k▼
Tangible fixed assets22/27€7k€3k▼
Furniture and vehicles24€7k€3k▼
Current assets29/58€296k€310k▲
Amounts receivable within one year40/41€185k€272k▲
Trade receivables40€185k€272k▲
Cash at bank and in hand54/58€93k€28k▼
Deferred charges and accrued income490/1€18k€9k▼
Equity and liabilities
Total equity and liabilities10/49€303k€313k▲
Equity10/15€93k€84k▼
Contributions10/11€2k€2k=
Reserves13€91k€82k▼
Distributable reserves133€91k€82k▼
Amounts payable17/49€210k€229k▲
Amounts payable within one year42/48€210k€229k▲
Trade debts44€71k€131k▲
Suppliers440/4€71k€131k▲
Taxes, remuneration and social security45€124k€98k▼
Taxes450/3€51k€33k▼
Remuneration and social security454/9€73k€65k▼
Other amounts payable47/48€15k€681▼
Income statement
Code20242025
Remuneration, social security and pensions62€659k€716k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3k€4k▲
Other operating charges640/8€465€365▼
Gross operating margin9900€755k€742k▼
Operating profit (loss)9901€92k€22k▼
Financial income75/76B€42€0▼
Recurring financial income75€42€0▼
Financial charges65/66B€15k€26k▲
Recurring financial charges65€15k€26k▲
Profit (loss) for the period before taxes9903€77k€-5k▼
Income taxes67/77€20k€4k▼
Profit (loss) for the period9904€57k€-9k▼
Profit (loss) for the period to be appropriated9905€57k€-9k▼
Appropriation of the result
Profit (loss) to be appropriated9906€57k€-9k▼
Transfer from equity791/2-€9k
Transfer to equity691/2€57k-
To other reserves6921€57k-
The notes to these accounts (4 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
09-09
State Gazette act
Registered officeBoard meeting · Registered-office move · Power of attorney3 facts ▸
State Gazette act
Registered office
Board meeting · Registered-office move · Power of attorney3 facts ▸
- Board meeting, 2026-08-10
- Registered-office move, Olenseweg 375, 2260 Westerlo
- Power of attorney, @TheOffice BV
08-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet €-9k ▼115%
Net result drops to €-9k, the lowest in the series.
25-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2023net €57k ▲71.8%
Operating result €92k, net result €57k, both a record.
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 61 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Westerlo · 1 establishment unit since 2023
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.
Olenseweg 3752260 WesterloGround area
1,520 m²
Building footprint
392 m²
Volume, LiDAR
941 m³
Parcel 13039B0040/00P002, Flanders · tallest building 6.7 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Payroll Masters
since 20232.343.148.529
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13039B0040/00P002 | Flanders | 1,520 m² | 1 · 392 m² | 6.7 m · 1 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2023 to 2025 · 5 entries · 32,710 EUR awarded · 31,726 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 24,231 EUR | 23,976 EUR |
| 2024 | 2 | 7,079 EUR | 6,350 EUR |
| 2023 | 1 | 1,400 EUR | 1,400 EUR |
Schemes
Individueel Maatwerk
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 82,570 companies in sector 70200 we hold annual accounts for 52,574. 40,255 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded19-01-2023
Fiscal year end31-12
Activities, NACEBEL
70200Business and other management consultancy
70220Business consulting
78200Temporary employment agencies and other provision of personnel
78300Employment activities
63920Other information service activities
63990Computing infrastructure, data processing, hosting and other information service activities
78100Employment placement agencies
82300Organisation of conventions and trade shows
85599Other education
Sources
Crossroads Bank for EnterprisesNational Bank · 3 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.