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M.A.S

Active
Private limited companyfounded 20214 years activeBernister-R.de la Vieille Ferme 6, 4960 Malmedy, BelgiumKBO/BCE: BE 0776.938.326
Summary

M.A.S has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €130,146 and a net result of €119,667. Equity is growing by ~34.8% per year across the filed fiscal years. Its solvency ranks better than 26% of 33,994 sector peers (NACE 43, fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).

Overview

Activity
Installation of electric heating, air conditioning, cooling and ventilation
NACE 43222
1 site
Size
€517,688total assets 2025
Equity
€130,146
Profit
€119,667
Turnover not published (abridged schema)
Financial health
70 Healthy Checked score 2025
Bankruptcy probability, 12 months
0.6%
Structure
Largest shareholder
HEINEN ANTOINE · 33.33%
Accounts 143 days early
Why 70- Founded in 2021- Sector Specialised construction activities (NACE 43)- Name on a sanctions list+ Size: total assets €517,688+ Figures for FY 2025 (filed 10-12-2025)Show the evidence

Checked score

Score 2025
70 / 100
Healthy
Probability in this band: 0.55% to 1.5%
Financially better than 53% of its sector peers (NACE 43, micro)
Financial strength · tick = 2024
Strong
Solvency 50+2
equity 25.1% of total assets
Liquidity 36-6
short-term debt 45.2% · cash 6.6%
Profitability 98+29
return on assets 23.1%
Bankruptcy probability, 12 months
0.6% Low
0%0.5%1.5%4%10%≥ 25%

About 6 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.7% (47,513 companies)
Last 24 months 11-2024: 1.2% 12-2024: 1.2%● unchanged vs 11-2024 01-2025: 1.3%▲ +0.1 percentage points vs 12-2024 02-2025: 1.3%● unchanged vs 01-2025 03-2025: 1.3%● unchanged vs 02-2025 04-2025: 1.4%▲ +0.1 percentage points vs 03-2025 05-2025: 1.9%▲ +0.5 percentage points vs 04-2025highest value 06-2025: 1.1%▼ -0.8 percentage points vs 05-2025 07-2025: 0.9%▼ -0.2 percentage points vs 06-2025 08-2025: 0.9%● unchanged vs 07-2025 09-2025: 0.9%● unchanged vs 08-2025 10-2025: 0.9%● unchanged vs 09-2025 11-2025: 0.8%▼ -0.1 percentage points vs 10-2025 12-2025: 0.8%● unchanged vs 11-2025 01-2026: 0.6%▼ -0.2 percentage points vs 12-2025lowest value 02-2026: 0.6%● unchanged vs 01-2026lowest value 03-2026: 0.6%● unchanged vs 02-2026 04-2026: 0.6%● unchanged vs 03-2026 05-2026: 0.6%● unchanged vs 04-2026 06-2026: 0.6%● unchanged vs 05-2026 07-2026: 0.6%● unchanged vs 06-2026 08-2026: 0.6%● unchanged vs 07-2026 09-2026: 0.6%● unchanged vs 08-2026 10-2026: 0.6%● unchanged vs 09-2026
Credit up to €9,000 at 30 days acceptable
Liquidity ample (current ratio 2.2 against 2.6 in 2024; short-term debt: 45.2% and cash: 6.6% of total assets), but 74.9% of the assets are financed with debt.
How it is calculated

The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 43, micro): better than 27% on solvency, 25% on liquidity, 83% on profitability and 77% on growth.

The bankruptcy probability was computed on 06-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Five signals.
−lowers risk+raises risk○neutral
raises risk · Founded in 2021
How long the company has existed counts in the probability; how much depends on the rest of its profile.
KBO
raises risk · Sector Specialised construction activities (NACE 43)
KBO
lowers risk · Size: total assets €517,688
The company's size counts in the probability; how much depends on the rest of its profile.
NBB · annual accounts
lowers risk · Figures for FY 2025 (filed 10-12-2025)
NBB · annual accounts
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 08-12-2025, 143 days ahead of the deadline.
NBB · 4 filings
Deviation from the deadline
2025
143 days early
2024
1 day early
2023
6 days early
2022
5 days early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 4 accounts on average 39 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 43% of the sector filed late.

Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today. Usually files around 25 April (3 of the last 4 filed years within 30 days of that day).
Companies Code · seven months
Position in the running window
30-09-2026 close07-10-2026 today30-04-2027 deadline
neutral · No strike-offs in the KBO publications
Checked from 2021 on.
KBO publications · our coverage

Name match with a sanctions list

1 entry
S M A
OFAC SDN list (United States) · programme IRAN-EO13902 · exact name match (100%)

A name match is not a finding that this company itself is on the list; check the entry at the source.

  1. Annual accounts filedfiscal year 2025 · micro…
  2. Highest result since 2022net €119,667 ▲6,010%
  3. Equity above €100,000Eq €130,146 ▲33.5%

Key points

  • Risk: Name on a sanctions lista name, not a verdict: check the source Match View
  • Positive: Result rose in 2025from €1,959 to €119,667 ▲ 6,010% View
  • Positive: Among the best 5% on net resultsector median €10,145 · 33,982 companies €119,667 View
  • Positive: Always filed on timeaccounts within the deadline every year 4 years View

By topic

Financials

Fiscal year
2025
Total assets
€517,688
Profit
€119,667
Solvency
25.1%
Total assets▲ 20.6%
Net result
20222025
Go to Financials

Timeline

Events
7
Since
2023
Next accounts
by 30-04-2027
  1. 29-04-2025Annual accounts filed
  2. 30-09-2024Weakest financial year
  3. 24-04-2024Annual accounts filed
Go to Timeline

Company details

Sites
1
Legal form
Private limited company
Activity
Installation of electric heating, air conditioning, cooling and…NACE 43222
Founded
08-11-2021
Year ends
30-09
Peppol
Reachable for e-invoices
Go to Company details

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