Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Negative equity NBB
More debt than assets in 4 of the last 4 fiscal years.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 2 % of short-term debt in 2025; threshold 65 %.
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Not on Peppol Peppol
Not registered in the Peppol network, mandatory for VAT-liable companies since 1 January 2026.
Financials
Financial year 2025
MASTER PROJECT from Waterloo, company number BE0476713923, closed financial year 2025 with a result of € -63,711 after tax. For that financial year MASTER PROJECT recorded a gross margin of € 15,579 and equity of € -281,252. Compared with financial year 2024, the result moved from € -11,095 to € -63,711. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on September 16, 2026.
€ -281,252
▼ € 63,711 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -63,711
▼ 474 % more loss than in 2024
Profit after tax over the fiscal year.
€ 16,954
▼ 68% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -343,004.
Debts at end 2025
€ 655,000
▲ € 592,500 vs 2024
€ 7,500 is repaid this year. At this pace the long-term loan is gone in ≈ 7 years.
€ 1,644
Supplier invoices still open on the last day of the fiscal year.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 33,251 | € 34,968 | € 47,452 | € 15,579 | ▼ 67% |
| Profit after taxes | € -22,195 | € -22,980 | € -11,095 | € -63,711 | ▼ € 52,616 |
| Equity | € -183,466 | € -206,445 | € -217,540 | € -281,252 | ▼ € 63,711 |
| Total debts | € 1,186,859 | € 1,187,604 | € 1,179,877 | € 1,154,458 | ▼ 2% |
| Cash | € 13,388 | € 26,804 | € 53,760 | € 16,954 | ▼ 68% |
| Land & buildings | € 984,133 | € 939,427 | € 898,213 | € 853,121 | ▼ 5% |
| Retained profit | € -245,218 | € -268,197 | € -279,292 | € -343,004 | ▼ € 63,711 |
| Bank debt | € 77,500 | € 70,000 | € 62,500 | € 655,000 | ▲ € 592,500 |
| Balance sheet total | € 1,003,393 | € 981,159 | € 962,337 | € 873,206 | ▼ 9% |
Key figures of MASTER PROJECT, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to MASTER PROJECT?
What happened at MASTER PROJECT in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 63,711. filed late Source: NBB ↗
- New establishment in Ukkel. KBO
- Start of the company according to the CBE. KBO
In short
From € 22,195 loss in 2022 to € 63,711 loss in 2025.
Paid € 1,317 in corporate taxes since 2022.
Establishments
Establishment units
Physical locations of this company
Rue Coleau 60
1410 Waterloo
Vanderkinderestraat 421
1180 Ukkel
Active since 21 June 2002
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 4 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0476.713.923
- VAT number
- BE 0476.713.923
- Registered office
- Rue Coleau 60, 1410 Waterloo
- Names & denominations
- MASTER PROJECT
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 21 January 2002
- Peppol
- Not registered