MASUDI
ActiveMASUDI has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €70k and a net result of €35k. Equity is growing by ~47.6% per year across the filed fiscal years. Its solvency ranks better than 28% of 10345 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2025
52
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability68▲+21
Solvency43▲+4
Growth74▼-3
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3.5k at 30 days acceptable
Liquidity short (current ratio 0.96 against 0.8 in 2024; short-term debt: 67.8% and cash: 3.7% of total assets), and 81.8% 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 47
Relative position
BE, all sectors
reference
Sector 47
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
18.2%
Return on assets
9%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 26-08-2026, 26 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 · 9 filingsDeviation from the deadline
2025
26 d late
2024
30 d late
2023
36 d late
2022
15 d late
2021
59 d late
2020
9 d late
2019
200 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
22-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
€1.06M▼ 1.5%
2024 · €1.07M
2018: €528k
2019: €718k
2020: €671k
2021: €851k
2022: €1.01M
2023: €1.16M
2024: €1.07M
2018 → 2025
EBIT margin
4.4%▲ 2.6pp
2024 · 1.8%
2018: 0.3%
2019: 3.3%
2020: 1.7%
2021: 2.4%
2022: 0.6%
2023: 2.5%
2024: 1.8%
2018 → 2025
Net result
€35k▲ 890%
2024 · €3k
2018: €20
2019: €-3k
2020: €1k
2021: €12k
2022: €-2k
2023: €18k
2024: €3k
2018 → 2025
Working capital
€-11k▲ 54.9%
2024 · €-25k
2018: €-94k
2019: €-87k
2020: €-78k
2021: €-64k
2022: €-107k
2023: €-48k
2024: €-25k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€851k-€1.01M▲ 19.1%€1.16M▲ 14.1%€1.07M▼ 7.2%€1.06M▼ 1.5%
Equity€16k-€14k▼ 12.6%€32k▲ 133%€35k▲ 11.0%€70k▲ 97.9%
Operating result€21k-€6k▼ 71.3%€29k▲ 381%€20k▼ 31.4%€47k▲ 138%
Net result€12k-€-2k€18k€3k▼ 80.8%€35k▲ 890%
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 138% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €385k
Fixed assets
€135k▼ 12.2%
Current assets
€250k▲ 145%
Equity and liabilities €385k
Equity
€70k▲ 97.9%
Debt
€315k▲ 42.8%
The debt ratio falls from 86.2% to 81.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€65k▲
2024 · €38k
Cash flow
€53k▲
2024 · €22k
Solvency
18.2%▲
2024 · 13.8%
Current ratio
0.96▲
2024 · 0.80
Quick ratio
0.93▲
2024 · 0.75
Debt / equity
4.49▼
2024 · 6.23
ROE
49.5%▲
2024 · 9.9%
ROA
9.0%▲
2024 · 1.4%
Interest coverage
7.44▲
2024 · 3.88
Debt
€315k▲
2024 · €220k
Debt ≤ 1 year
€261k▲
2024 · €126k
Debt > 1 year
€53k▼
2024 · €70k
Income taxes
€3k▼
2024 · €6k
Staff costs
€17k▲
2024 · €10k
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€256k€385k▲
Fixed assets21/28€154k€135k▼
Tangible fixed assets22/27€152k€133k▼
Land and buildings22€138k€126k▼
Leasing and similar rights25€14k€7k▼
Other tangible fixed assets26€850-
Financial fixed assets28€2k€2k=
Current assets29/58€102k€250k▲
Stocks and contracts in progress3€7k€7k▼
Stocks30/36€7k€7k▼
Amounts receivable within one year40/41€78k€229k▲
Trade receivables40€60k€181k▲
Other amounts receivable41€18k€48k▲
Current investments50/53€17k-
Cash at bank and in hand54/58-€14k
Deferred charges and accrued income490/1-€57
Equity and liabilities
Total equity and liabilities10/49€256k€385k▲
Equity10/15€35k€70k▲
Contributions10/11€20k€20k=
Reserves13€5k€5k=
Non-distributable reserves130/1€1k€1k=
Reserves not available under the articles1311€1k€1k=
Distributable reserves133€4k€4k=
Profit (loss) carried forward14€10k€45k▲
Amounts payable17/49€220k€315k▲
Amounts payable after more than one year17€70k€53k▼
Financial debts170/4€70k€53k▼
Amounts payable within one year42/48€126k€261k▲
Current portion of amounts payable after more than one year42€17k€18k▲
Financial debts43€7k€6k▼
Credit institutions430/8€7k€6k▼
Trade debts44€11k€228k▲
Suppliers440/4€11k€228k▲
Taxes, remuneration and social security45€8k€10k▲
Taxes450/3€2k€3k▲
Remuneration and social security454/9€5k€7k▲
Other amounts payable47/48€84k-
Accrued charges and deferred income492/3€24k€2k▼
Income statement
Code20242025
Turnover70€1.07M€1.06M▼
Non-recurring operating income76A€6k€16k▲
Goods, raw materials, services and sundry goods60/61€1.08M€983k▼
Remuneration, social security and pensions62€10k€17k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€19k€19k=
Other operating charges640/8€4k€6k▲
Non-recurring operating charges66A€2k€100▼
Gross operating margin9900€54k€89k▲
Operating profit (loss)9901€20k€47k▲
Financial income75/76B€1€0▼
Recurring financial income75€1€0▼
Financial charges65/66B€10k€9k▼
Recurring financial charges65€10k€9k▼
Profit (loss) for the period before taxes9903€10k€38k▲
Income taxes67/77€6k€3k▼
Profit (loss) for the period9904€3k€35k▲
Profit (loss) for the period to be appropriated9905€3k€35k▲
Appropriation of the result
Profit (loss) to be appropriated9906€10k€45k▲
Profit (loss) brought forward from the previous period14P€7k€10k▲
Social balance
Average headcount (FTE)9087-0.5
The notes to these accounts (10 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
26-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 26 days late
2025
31-12
Financial
Highest result since 2018net €35k ▲890%
Operating result €47k, net result €35k, both a record.
30-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 30 days late
2024
05-09
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 36 days late
21-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 59 days late
2023
31-12
Financial
Back to profitnet €18k
Net result €18k after one loss-making year.
15-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 15 days late
2022
28-09
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 59 days late
2021
09-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 9 days late
16-02
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 200 days late
2020
31-12
Financial
Back to profitnet €1k
Net result €1k after one loss-making year.
2019
31-12
Financial
Weakest financial yearnet €-3k ▼15883%
Net result drops to €-3k, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 30 days late
2018
07-11
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 99 days late
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, Sint-Jans-Molenbeek · 1 establishment unit since 2006
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.
Schipstraat 391080 Sint-Jans-MolenbeekGround area
166 m²
Building footprint
162 m²
Volume, LiDAR
1,090 m³
Parcel 21523B0943/00S030, Brussels · tallest building 19.5 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Schipstraat 39, 1080 Sint-Jans-Molenbeek
since 20062.154.706.134
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21523B0943/00S030 | Brussels | 166 m² | 1 · 162 m² | 19.5 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteSint-Jans-Molenbeek2.154.706.134
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Of 2,477 companies in sector 47279 we hold annual accounts for 950. 795 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded07-04-2006
Fiscal year end31-12
Activities, NACEBEL
47110Non-specialised retail sale with food, beverages or tobacco predominating
47112Retail trade
47279Other retail sale of food
47299Retail trade
52272
Sources
Crossroads Bank for EnterprisesNational Bank · 21 filingsAddress and cadastre registers
Data from official sources, last processed on 22-09-2026. Scores and ratios are computed by Checked and are not a credit decision.