MASSAER
ActiveMASSAER has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €576k and a net result of €18k. Equity remains stable across the filed fiscal years (±1.2% per year). Its solvency ranks better than 95% of 4478 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
86
/ 100
Excellent▼ -8 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability16▼-21
Solvency100▲+5
Growth52=
Stability100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €50k at 30 days acceptable
Liquidity ample (current ratio 2.74 against 1.76 in 2024), and 4.2% of the assets are financed with debt.
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 49
Relative position
BE, all sectors
reference
Sector 49
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
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
95.8%
Return on assets
3.1%
Age of the figures
9 mo
lowers risk · Growing equity
Equity grew over 2023-2025. Profits are largely retained rather than distributed.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €576k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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
31 d late
2024
14 d late
2023
26 d late
2022
29 d late
2021
47 d late
2020
31 d late
2019
97 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
16-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€576k▲ 3.3%
2024 · €557k
2018: €527k
2019: €540k
2020: €499k
2021: €482k
2022: €482k
2023: €523k
2024: €557k
2018 → 2025
Total assets
€601k▼ 6.5%
2024 · €642k
2018: €942k
2019: €744k
2020: €644k
2021: €623k
2022: €601k
2023: €599k
2024: €642k
2018 → 2025
Net result
€18k▼ 55.4%
2024 · €41k
2018: €122k
2019: €14k
2020: €-41k
2021: €-17k
2022: €265
2023: €41k
2024: €41k
2018 → 2025
Working capital
€44k▼ 23.8%
2024 · €57k
2018: €469k
2019: €-35k
2020: €-42k
2021: €-17k
2022: €-27k
2023: €7k
2024: €57k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€482k-€482k▲ 0.1%€523k▲ 8.4%€557k▲ 6.5%€576k▲ 3.3%
Operating result€-10k-€7k€56k▲ 647%€62k▲ 12.1%€27k▼ 56.8%
Net result€-17k-€265€41k▲ 15,232%€41k▲ 2.3%€18k▼ 55.4%
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 falls in 2025; 2025 is 57% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €601k
Fixed assets
€532k▲ 4.4%
Current assets
€69k▼ 48.1%
Equity and liabilities €601k
Equity
€576k▲ 3.3%
Debt
€25k▼ 70.5%
The debt ratio falls from 13.2% to 4.2%: equity grows while debt is paid down.
Key figures and ratios
EBITDA
€64k▼
2024 · €94k
Cash flow
€55k▼
2024 · €73k
Solvency
95.8%▲
2024 · 86.8%
Current ratio
2.74▲
2024 · 1.76
Quick ratio
2.74▲
2024 · 1.76
Debt / equity
0.04▼
2024 · 0.15
ROE
3.2%▼
2024 · 7.4%
ROA
3.1%▼
2024 · 6.5%
Interest coverage
35.59▲
2024 · 22.04
Debt
€25k▼
2024 · €85k
Debt ≤ 1 year
€25k▼
2024 · €75k
Debt > 1 year
€0▼
2024 · €10k
Income taxes
€7k▼
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€642k€601k▼
Fixed assets21/28€510k€532k▲
Tangible fixed assets22/27€510k€532k▲
Land and buildings22€484k€482k▼
Plant, machinery and equipment23€17k€14k▼
Furniture and vehicles24€8k€37k▲
Other tangible fixed assets26€833€0▼
Financial fixed assets28€100€100=
Current assets29/58€132k€69k▼
Amounts receivable within one year40/41€61k€37k▼
Trade receivables40€61k€37k▼
Other amounts receivable41€176€19▼
Current investments50/53€45k€1▼
Cash at bank and in hand54/58€22k€27k▲
Deferred charges and accrued income490/1€4k€4k▲
Equity and liabilities
Total equity and liabilities10/49€642k€601k▼
Equity10/15€557k€576k▲
Contributions10/11€19k€19k=
Reserves13€539k€557k▲
Tax-exempt reserves132€78k€78k=
Distributable reserves133€461k€479k▲
Profit (loss) carried forward14€0€0=
Amounts payable17/49€85k€25k▼
Amounts payable after more than one year17€10k€0▼
Financial debts170/4€10k€0▼
Amounts payable within one year42/48€75k€25k▼
Current portion of amounts payable after more than one year42€16k€10k▼
Trade debts44€32k€3k▼
Suppliers440/4€32k€3k▼
Taxes, remuneration and social security45€19k€7k▼
Taxes450/3€17k€7k▼
Remuneration and social security454/9€2k€0▼
Other amounts payable47/48€8k€5k▼
Accrued charges and deferred income492/3€0-
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€31k€37k▲
Other operating charges640/8€3k€4k▲
Non-recurring operating charges66A€1k€0▼
Gross operating margin9900€98k€68k▼
Operating profit (loss)9901€62k€27k▼
Financial income75/76B€61€286▲
Recurring financial income75€61€286▲
Financial charges65/66B€4k€2k▼
Recurring financial charges65€4k€2k▼
Profit (loss) for the period before taxes9903€58k€25k▼
Income taxes67/77€17k€7k▼
Profit (loss) for the period9904€41k€18k▼
Profit (loss) for the period to be appropriated9905€41k€18k▼
Appropriation of the result
Profit (loss) to be appropriated9906€41k€18k▼
Transfer from equity791/2€7k€0▼
Transfer to equity691/2€41k€18k▼
To contributions691€41k€18k▼
To other reserves6921€0-
Profit to be distributed694/7€7k€0▼
Return on contributions (dividend)694€7k€0▼
The notes to these accounts (11 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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
14-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 14 days late
2024
26-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 26 days late
2023
31-12
Financial
Equity above €500kEq €523k ▲8.4%
2 profitable years in a row build equity to €523k.
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 29 days late
2022
31-12
Financial
Back to profitnet €265
Net result €265 after 2 loss-making years.
16-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 47 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-12
Financial
Weakest financial yearnet €-41k ▼394%
Net result drops to €-41k, the lowest in the series; recovery starts the following year.
05-11
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 97 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 30 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 31 days late
2017
27-07
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 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, Buggenhout · 1 establishment unit since 2000
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.
Hauwerstraat 359255 BuggenhoutGround area
1,096 m²
Building footprint
163 m²
Volume, LiDAR
1,146 m³
Parcel 42004A0469/00Z000, Flanders · tallest building 10.6 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Hauwerstraat 35, 9255 Buggenhout
since 20002.094.864.062
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42004A0469/00Z000 | Flanders | 1,096 m² | 1 · 163 m² | 10.6 m · 2 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
2025 · 1 entry · 2,420 EUR awarded · 2,420 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 2,420 EUR | 2,420 EUR |
Schemes
Retroactieve investeringspremie voor eigenaars van zonnepanelen na afschaffing van terugdraaiende teller
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AVB-Trans
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JAMAX INVEST
BE 0468.333.420
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LOUIS EYSKENS EN ZOON
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Of 12,449 companies in sector 49410 we hold annual accounts for 8,086. 4,951 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded13-12-1999
Fiscal year end31-12
Activities, NACEBEL
49410Freight transport by road
Sources
Crossroads Bank for EnterprisesNational Bank · 26 filingsAddress and cadastre registers
Data from official sources, last processed on 16-09-2026. Scores and ratios are computed by Checked and are not a credit decision.