M A SOFTWARE TECHNOLOGIES (0885.412.436): financials and annual accounts

M A SOFTWARE TECHNOLOGIES

Laarne ·KBO/BCE: BE 0885.412.436

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
Balance sheet: assets
Total assets`20/58`	86,807	83,539	70,021	59,565	49,389	53,854	7,363	34,944	23,482	14,276	27,911	6,673	16,718	26,863	17,693	26,393	43,993	74,342	49,610
Fixed assets`21/28`	12,128	14,723	15,508	19,924	7,373	11,745	2,017	464	-	-	268	787	1,599	1,097	5,748	10,405	16,294	21,365	6,433
Tangible fixed assets`22/27`	12,128	14,723	15,508	19,924	7,373	11,745	2,017	464	-	-	268	787	1,599	1,097	5,748	10,405	16,294	21,365	6,433
Plant, machinery and equipment`23`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	240	481	721	962	-
Furniture and vehicles`24`	12,128	14,723	15,508	19,924	7,373	11,745	2,017	464	-	-	268	787	1,599	1,097	5,508	9,924	15,573	20,403	6,433
Current assets`29/58`	74,679	68,816	54,514	39,641	42,016	42,109	5,347	34,481	23,482	14,276	27,643	5,887	15,119	25,766	11,944	15,988	27,699	52,977	43,177
Stocks and contracts in progress`3`	-	-	-	-	-	-	-	-	-	-	-	-	-	135	0	1,496	-	-	-
Stocks`30/36`	-	-	-	-	-	-	-	-	-	-	-	-	-	135	0	1,496	-	-	-
Amounts receivable within one year`40/41`	12,740	19,339	15,016	16,332	16,492	10,543	466	9,285	14,346	9,202	10,385	3,863	3,541	22,914	9,970	13,294	14,634	11,048	23,415
Trade receivables`40`	9,940	10,048	11,016	12,371	11,451	10,103	0	9,180	6,450	9,202	10,385	2,735	3,400	22,914	9,970	12,776	8,901	8,563	16,335
Other amounts receivable`41`	2,800	9,291	4,000	3,961	5,040	440	466	105	7,896	-	-	1,128	141	-	0	519	5,732	2,485	7,080
Current investments`50/53`	52,601	40,094	30,067	16,524	20,024	10,024	3,521	21	21	21	21	521	6,501	1	11	10	5,334	34,912	19,000
Cash at bank and in hand`54/58`	4,553	8,966	9,175	6,527	5,197	21,245	917	24,796	8,195	4,637	16,821	1,502	4,694	2,232	1,581	804	7,356	6,656	207
Deferred charges and accrued income`490/1`	4,785	417	255	258	302	296	442	378	919	416	416	-	383	484	383	383	375	361	555
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	86,807	83,539	70,021	59,565	49,389	53,854	7,363	34,944	23,482	14,276	27,911	6,673	16,718	26,863	17,693	26,393	43,993	74,342	49,610
Equity`10/15`	66,228	66,475	46,664	36,484	37,654	26,993	2,622	27,124	20,054	5,475	11,724	-4,117	7,209	8,766	5,893	4,556	13,842	43,754	30,831
Contributions`10/11`	1,000	12,400	12,400	12,400	12,400	12,400	12,400	12,400	12,400	12,400	12,400	12,400	12,400	12,400	12,400	12,400	12,400	12,400	12,400
Issued capital`100`	-	-	-	-	-	-	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600
Uncalled capital`101`	-	-	-	-	-	-	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200
Reserves`13`	65,228	54,075	34,264	25,254	25,254	14,593	1,860	14,724	7,654	31,354	31,354	31,354	31,354	31,354	31,354	31,354	31,354	31,354	18,431
Non-distributable reserves`130/1`	-	0	1,860	1,860	1,860	1,860	-	-	-	-	-	-	-	-	-	-	-	-	-
Legal reserve`130`	-	-	-	-	-	-	1,860	1,860	1,568	1,568	1,568	1,568	1,568	1,568	1,568	1,568	1,568	1,568	922
Reserves not available under the articles`1311`	-	0	1,860	1,860	1,860	1,860	-	-	-	-	-	-	-	-	-	-	-	-	-
Distributable reserves`133`	65,228	54,075	32,404	23,394	23,394	12,733	0	12,864	6,086	29,787	29,787	29,787	29,787	29,787	29,787	29,787	29,787	29,787	17,509
Profit (loss) carried forward`14`	0	-	0	-1,170	-	-	-11,638	-	-	-38,280	-32,031	-47,872	-36,546	-34,988	-37,861	-39,199	-29,913	-	-
Amounts payable`17/49`	20,579	17,064	23,357	23,082	11,735	26,861	4,741	7,820	3,428	8,801	16,187	10,790	9,509	18,096	11,799	21,837	30,151	30,587	18,779
Amounts payable after more than one year`17`	2,373	5,491	8,557	11,573	-	-	-	-	-	-	-	-	-	-	-	3,603	8,167	12,469	-
Financial debts`170/4`	2,373	5,491	8,557	11,573	-	-	-	-	-	-	-	-	-	-	-	3,603	8,167	12,469	-
Amounts payable within one year`42/48`	18,206	11,573	14,800	11,509	11,735	14,861	4,741	7,820	3,428	8,476	15,616	9,957	8,553	17,202	11,164	17,193	20,731	16,668	17,989
Current portion of amounts payable after more than one year`42`	3,118	3,066	3,015	2,965	-	-	-	-	-	-	-	-	-	-	3,604	4,564	4,301	4,054	-
Trade debts`44`	6,421	1,061	1,443	1,501	111	1,682	393	820	978	2,092	2,900	274	11	230	1,060	3,306	2,602	1,485	62
Suppliers`440/4`	6,421	1,061	1,443	1,501	111	1,682	393	820	978	2,092	2,900	274	11	230	1,060	3,306	2,602	1,485	62
Taxes, remuneration and social security`45`	8,520	7,446	8,986	4,310	7,335	8,659	350	3,731	2,450	3,777	8,294	100	-	3,770	869	-	-	621	2,523
Taxes`450/3`	8,520	7,446	8,986	4,310	7,335	8,659	350	3,731	2,450	3,777	8,294	100	-	3,770	869	-	-	621	2,523
Other amounts payable`47/48`	147	0	1,355	2,733	4,289	4,519	3,998	3,269	-	2,606	4,422	9,583	8,541	13,202	5,631	9,322	13,828	10,508	15,404
Accrued charges and deferred income`492/3`	-	-	-	-	0	12,000	-	-	-	326	571	834	957	895	635	1,042	1,253	1,451	789
Income statement
Non-recurring operating income`76A`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,148	-	-	-	-
Gross operating margin`9900`	24,709	33,047	20,741	2,492	14,545	33,027	-21,761	8,585	15,475	-3,820	18,314	-8,401	876	10,633	9,037	-11,761	-19,947	27,402	31,073
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	5,264	4,285	4,963	2,026	4,372	3,323	1,124	232	-	268	519	813	1,172	5,800	5,587	5,889	6,709	6,101	3,665
Other operating charges`640/8`	906	839	839	783	893	653	1,018	1,005	943	1,294	1,255	967	963	857	987	1,069	958	2,606	1,619
Non-recurring operating charges`66A`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,148	-	-	-	-
Operating profit (loss)`9901`	18,539	27,923	14,938	-317	9,280	29,050	-23,902	7,348	14,532	-5,382	16,540	-10,180	-1,259	3,976	2,462	-18,719	-27,614	18,696	25,789
Financial income`75/76B`	245	364	93	0	0	45	0	2	455	-	0	24	905	-	3	11,318	368	904	13
Recurring financial income`75`	245	364	93	0	0	45	0	2	455	-	0	24	905	-	3	11,318	368	904	13
Financial charges`65/66B`	254	341	422	261	312	278	249	148	58	763	592	959	1,084	1,103	1,127	1,883	2,666	2,020	949
Recurring financial charges`65`	254	341	422	261	312	278	249	148	58	763	592	959	1,084	1,103	1,127	1,883	2,666	2,020	949
Profit (loss) for the period before taxes`9903`	18,530	27,946	14,609	-578	8,968	28,817	-24,151	7,202	14,929	-6,146	15,948	-11,115	-1,438	2,873	1,338	-9,284	-29,913	17,580	24,853
Income taxes`67/77`	5,517	8,136	4,429	592	-1,693	4,446	351	132	350	103	107	211	119	-	0	2	0	4,656	6,422
Profit (loss) for the period`9904`	13,013	19,810	10,180	-1,170	10,661	24,371	-24,502	7,070	14,579	-6,249	15,841	-11,326	-1,557	2,873	1,337	-9,286	-29,913	12,923	18,431
Profit (loss) for the period to be appropriated`9905`	13,013	19,810	10,180	-1,170	10,661	24,371	-24,502	7,070	14,579	-6,249	15,841	-11,326	-1,557	2,873	1,337	-9,286	-29,913	12,923	18,431
Appropriation of the result
Profit (loss) to be appropriated`9906`	13,013	19,810	9,010	-1,170	10,661	12,733	-24,502	7,070	-23,700	-38,280	-32,031	-47,872	-36,546	-34,988	-37,861	-39,199	-29,913	12,923	18,431
Profit (loss) brought forward from the previous period`14P`	-	0	-1,170	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Transfer from equity`791/2`	13,260	-	-	-	-	-	12,864	-	38,280	-	-	-	-	-	-	-	-	-	-
Transfer to equity`691/2`	13,013	19,810	9,010	0	10,661	12,733	-	7,070	14,579	-	-	-	-	-	-	-	-	12,923	18,431
To the legal reserve`6920`	-	-	-	-	-	-	0	292	-	-	-	-	-	-	-	-	-	646	922
To other reserves`6921`	13,013	19,810	9,010	0	10,661	12,733	0	6,778	14,579	-	-	-	-	-	-	-	-	12,277	17,509
Profit to be distributed`694/7`	13,260	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Return on contributions (dividend)`694`	13,260	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
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Financial year	Type	Filed	Reference	Document
31-12-2025	abbreviated format	26-03-2026	2026-00065532	PDF
31-12-2024	abbreviated format	10-07-2025	2025-00268286	PDF
31-12-2023	abbreviated format	05-07-2024	2024-00211287	PDF
31-12-2022	abbreviated format	28-07-2023	2023-00290638	PDF
31-12-2021	abbreviated format	30-08-2022	2022-20398764	PDF
31-12-2020	abbreviated format	30-07-2021	2021-43600277	PDF
31-12-2019	abbreviated format	31-07-2020	2020-38300013	PDF
31-12-2018	abbreviated format	25-07-2019	2019-39300271	PDF
31-12-2017	abbreviated format	27-07-2018	2018-39700041	PDF
31-12-2016	abbreviated format	24-08-2017	2017-47500411	PDF
31-12-2015	abbreviated format	31-08-2016	2016-56100115	PDF
31-12-2014	abbreviated format	14-08-2015	2015-43600552	PDF
31-12-2013	abbreviated format	10-06-2014	2014-17300077	PDF
31-12-2012	abbreviated format	05-08-2013	2013-40200504	PDF
31-12-2011	abbreviated format	18-07-2012	2012-31500564	PDF
31-12-2010	abbreviated format	24-06-2011	2011-20800476	PDF
31-12-2009	abbreviated format	17-06-2010	2010-19500047	PDF
31-12-2008	abbreviated format	08-06-2009	2009-20400239	PDF
31-12-2007	abbreviated format	09-06-2008	2008-20500195	PDF

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
EBITDA	23,803	32,208	19,902	1,709	13,652	32,373	-22,778	7,580	-	-5,114	17,059	-9,368	-87	9,776	8,050	-12,830	-20,905	24,796	29,454
Cash flow	18,277	24,095	15,144	856	15,033	27,694	-23,378	7,302	-	-5,981	16,360	-10,513	-385	8,673	6,925	-3,397	-23,204	19,024	22,096
Investment in fixed assets (approximation)	2,669	3,500	547	20,339	0	13,051	2,677	695	-	0	0	0	1,675	1,148	1,133	0	1,638	24,033	10,098
Change in cash	-4,413	-209	2,648	1,330	-16,048	20,328	-23,879	16,601	3,558	-12,184	15,319	-3,192	2,462	652	777	-6,552	699	6,449	-
Working capital	56,473	57,243	39,714	28,133	30,281	27,248	605	26,661	20,054	5,801	12,027	-4,070	6,566	8,564	780	-1,205	6,968	36,309	25,188
Solvency	76.3%	79.6%	66.6%	61.3%	76.2%	50.1%	35.6%	77.6%	85.4%	38.3%	42.0%	-61.7%	43.1%	32.6%	33.3%	17.3%	31.5%	58.9%	62.1%
Current ratio	4.10	5.95	3.68	3.44	3.58	2.83	1.13	4.41	6.85	1.68	1.77	0.59	1.77	1.50	1.07	0.93	1.34	3.18	2.40
Quick ratio	4.10	5.95	3.68	3.44	3.58	2.83	1.13	4.41	6.85	1.68	1.77	0.59	1.77	1.49	1.07	0.84	1.34	3.18	2.40
Debt to equity	0.31	0.26	0.50	0.63	0.31	1.00	1.81	0.29	0.17	1.61	1.38	-	1.32	2.06	2.00	4.79	2.18	0.70	0.61
ROE	19.6%	29.8%	21.8%	-3.2%	28.3%	90.3%	-934.5%	26.1%	72.7%	-114.1%	135.1%	-	-21.6%	32.8%	22.7%	-203.8%	-216.1%	29.5%	59.8%
ROA	15.0%	23.7%	14.5%	-2.0%	21.6%	45.3%	-332.8%	20.2%	62.1%	-43.8%	56.8%	-169.7%	-9.3%	10.7%	7.6%	-35.2%	-68.0%	17.4%	37.2%
Interest coverage	93.68	94.42	47.19	6.54	43.71	-	-	-	-	-	-	-	-	-	-	-	-	-	-

Item	2025	2024	2023	2022	2021
Tangible fixed assets	€2,669	€3,500	€547	€20,339	-
Depreciation and write-downs of the year	€5,264	€4,285	€4,963	€2,026	€4,372

M A SOFTWARE TECHNOLOGIES

Annual accounts 2025

Balance sheet

Change in equityin euro

Change in cashin euro

Position in the sector

Solvency76.3%

Current ratio4.10

Return on assets15.0%

Filed annual accounts

Filings

Key figures and ratios

Securities and guarantees

Investments

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