Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Two loss years in a row NBB
Negative result in 2023 and 2024.
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Tight liquidity NBB
Cash and receivables cover 28 % of short-term debt in 2024; threshold 65 %.
Financials
Financial year 2024
MASTER BUSINESS from Anderlecht, company number BE0475608816, closed financial year 2024 with a result of € -7,878 after tax. For that financial year MASTER BUSINESS recorded a gross margin of € 961,688 and equity of € 699,750. Compared with financial year 2023, the result moved from € -20,716 to € -7,878. The company made a loss. The company holds a healthy buffer. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on December 23, 2025.
€ 699,750
▼ 2% vs 2023
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -7,878
▲ 62 % less loss than in 2023
Profit after tax over the fiscal year.
€ 113,806
▼ 7% vs 2023
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 648,150.
People and assets in 2024
14.7
▼ 3.7 vs 2023
Average over the fiscal year, from the social balance sheet.
€ 546,179
▼ 24% vs 2023
€ 37,200 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 1.5 million
▼ 9% vs 2023
Of which on lease € 1.5 million.
Debts at end 2024
€ 1.7 million
€ 202,028 is repaid this year. At this pace the long-term loan is gone in ≈ 6 years.
€ 1.9 million
▼ 2% vs 2023
Supplier invoices still open on the last day of the fiscal year.
€ 386,936
▼ 25% vs 2023
Taxes, VAT and social contributions still to pay.
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| 2021 | 2022 | 2023 | 2024 | Change 2023 → 2024 | |
|---|---|---|---|---|---|
| Gross margin | € 1,184,215 | € 1,275,214 | € 1,123,042 | € 961,688 | ▼ 14% |
| Profit after taxes | € -190,026 | € 68,965 | € -20,716 | € -7,878 | ▲ € 12,838 |
| Equity | € 681,378 | € 744,344 | € 717,628 | € 699,750 | ▼ 2% |
| Total debts | € 4,231,293 | € 4,109,507 | € 4,234,490 | € 4,040,005 | ▼ 5% |
| Cash | € 93,570 | € 88,739 | € 121,757 | € 113,806 | ▼ 7% |
| Land & buildings | € 29,244 | € 25,996 | € 22,748 | € 19,499 | ▼ 14% |
| Retained profit | € 607,778 | € 676,744 | € 656,028 | € 648,150 | ▼ 1% |
| Bank debt | € 2,074,413 | € 1,893,518 | € 1,751,084 | € 1,749,742 | |
| Balance sheet total | € 4,998,012 | € 4,932,962 | € 5,025,001 | € 4,807,410 | ▼ 4% |
| Employees (FTE) | 17.9 | 17.8 | 18.4 | 14.7 | ▼ 3.7 |
Key figures of MASTER BUSINESS, fiscal years 2021 to 2024, from the annual accounts filed with the National Bank of Belgium.The annual account for fiscal year 2025 has not been filed yet; it was expected before 31 July 2026.
What happened to MASTER BUSINESS?
What happened at MASTER BUSINESS in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2024: loss of € 7,878. filed late Source: NBB ↗
- Saad Skeikh Muhammad became a director. NBB
- New establishment in Anderlecht. KBO
- Start of the company according to the CBE. KBO
In short
From € 190,026 loss in 2021 to € 7,878 loss in 2024.
Paid € 63,022 in corporate taxes since 2021.
Best year ever: 2022, with € 68,965 profit.
On average € 65,400 of value added per employee in 2024.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
Behind MASTER BUSINESS are Rauf-Ul-Hassan Syed and Saad Skeikh Muhammad.
Directors
According to the 2024 annual accounts
Rauf-Ul-Hassan Syed
Director
Saad Skeikh Muhammad
Director
since 2021
Establishments
Establishment units
Physical locations of this company
Researchdreef 59
1070 Anderlecht
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0475.608.816
- VAT number
- BE 0475.608.816
- Registered office
- Researchdreef 59, 1070 Anderlecht
- Names & denominations
- MASTER BUSINESS · M.B. TRADE
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 12 September 2001
- Peppol
- Active · Active since 20 Nov 2020
- Activities · NACE
Niet-gespecialiseerde detailhandel waarbij voedings- en genotmiddelen overheersen
Niet-gespecialiseerde detailhandel in algemene voedingsmiddelen (verkoopsoppervlakte minder dan 100 m2)
Superettes (verkoopsoppervlakte tussen 100 m2 en minder dan 400 m2)
Detailhandel in niet-gespecialiseerde winkels waarbij voedings- en genotmiddelen overheersen (verkoopsoppervlakte < 100 m²)
Detailhandel in niet-gespecialiseerde winkels waarbij voedings- en genotmiddelen overheersen (verkoopsoppervlakte tussen 100 m² en minder dan 400 m²)
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