Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Negative equity NBB
More debt than assets in 4 of the last 4 fiscal years.
-
Tight liquidity NBB
Cash and receivables cover 11 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
Shine Master from Rixensart, company number BE0840098489, closed financial year 2025 with a result of € -5,842 after tax. For that financial year Shine Master recorded a gross margin of € -744 and equity of € -52,026. Compared with financial year 2024, the result moved from € 10,248 to € -5,842. 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 August 27, 2026.
€ -52,026
▼ € 5,842 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -5,842
▼ still € 10,248 profit in 2024
Profit after tax over the fiscal year.
€ 5,211
▲ € 4,595 vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -58,226.
People and assets in 2025
≈ 1
No payroll staff. One director, so that person most likely runs the business.
€ 23,531
▲ 297% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 355
▼ 93% vs 2024
Supplier invoices still open on the last day of the fiscal year.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € -3,133 | € 16,642 | € 12,155 | € -744 | ▼ € 12,899 |
| Profit after taxes | € -19,721 | € 15,331 | € 10,248 | € -5,842 | ▼ € 16,090 |
| Equity | € -71,763 | € -56,432 | € -46,184 | € -52,026 | ▼ € 5,842 |
| Total debts | € 71,811 | € 64,498 | € 60,605 | € 87,436 | ▲ 44% |
| Cash | € 48 | € 4,212 | € 616 | € 5,211 | ▲ € 4,595 |
| Retained profit | € -77,963 | € -62,632 | € -52,384 | € -58,226 | ▼ € 5,842 |
| Balance sheet total | € 48 | € 8,066 | € 14,420 | € 35,410 | ▲ 146% |
Key figures of Shine Master, 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 Shine Master?
What happened at Shine Master in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 5,842 (▼ € 16,090 vs 2024). filed late Source: NBB ↗
- Cédric VANDERKELEN became a director. NBB
- New establishment in Waterloo. KBO
- Start of the company according to the CBE. KBO
In short
From € 19,721 loss in 2022 to € 5,842 loss in 2025.
Best year ever: 2023, with € 15,331 profit.
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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 Shine Master is Cédric VANDERKELEN.
Directors
According to the 2025 annual accounts
Cédric VANDERKELEN
Director
since 2018
Establishments
Establishment units
Physical locations of this company
Avenue Normande 16
1332 Rixensart
Avenue Tondeur (Valentin) 30 box A
1410 Waterloo
Active since 21 November 2011
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0840.098.489
- VAT number
- BE 0840.098.489
- Registered office
- Avenue Normande 16, 1332 Rixensart
- Names & denominations
- Shine Master
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 10 October 2011
- Peppol
- Active · Active since 13 Jan 2026
- Activities · NACE
Overige zakelijke dienstverlening, neg