MAISTER
InactiveInactive; last annual accounts for fiscal year 2023.
Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Two or more financial years not filed
Since the financial year that closed on 30-09-2024, 2 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 10 filingsPosition against the passed deadline
30-09-2024 close30-04-2025 deadline29-09-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2023 was due by 30-04-2024 and was filed on 15-11-2023, 167 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not filed
2024
not filed
2023
167 d early
2022
2 d early
2021
9 d early
2020
1 d early
2019
31 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 5 accounts on average 42 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
Financials · fiscal year 2023, abbreviated schema
Source amounts without an identifiable currency are assumed to be EUR.
Turnover
€0
Total assets
€4.2m▲ 11.1%
2022 · €3.8m
Net result
€332,414▼ 12.0%
2022 · €377,772
Working capital
€1.4m▲ 18.3%
2022 · €1.2m
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20192020202120222023
Turnover
Operating result€566,575▲ 87.6%€602,678▲ 6.4%€756,179▲ 25.5%€560,015▼ 25.9%€531,822▼ 5.0%
Net result€359,221▲ 76.2%€385,053▲ 7.2%€542,688▲ 40.9%€377,772▼ 30.4%€332,414▼ 12.0%
Equity€925,751▲ 49.1%€1.3m▲ 42.1%€1.9m▲ 41.2%€2.2m▲ 20.3%€2.6m▲ 14.9%
Total assets€3.0m▲ 12.8%€4.2m▲ 39.3%€3.5m▼ 18.1%€3.8m▲ 9.7%€4.2m▲ 11.1%
Debt€2.1m▲ 2.1%€2.9m▲ 38.9%€1.6m▼ 45.1%€1.6m▼ 2.5%€1.6m▲ 5.8%
Working capital€475,219▲ 43.5%€576,467▲ 21.3%€941,815▲ 63.4%€1.2m▲ 26.3%€1.4m▲ 18.3%
Staff (FTE)11▲ 31.0%12.8▲ 16.4%11.7▼ 8.6%10.6▼ 9.4%12.1▲ 14.2%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2023 is 5% below 2022 and is the lowest result in the available series.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €4.2m
Fixed assets
€2.3m ▲ 5.5%
Current assets
€2.0m ▲ 18.2%
Equity and liabilities €4.2m
Equity
€2.6m ▲ 14.9%
Provisions
€21,876 ▼ 6.7%
Debt
€1.6m ▲ 5.8%
Debt's share of the balance-sheet total falls from 40.7% to 38.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€689,476▼
2022 · €696,287
Cash flow
€490,068▼
2022 · €514,043
Current ratio
3.50▲
2022 · 3.50
Debt to equity
0.64▼
2022 · 0.69
ROE
12.9%▼
2022 · 16.9%
ROA
7.9%▼
2022 · 9.9%
Interest coverage
23.28▲
2022 · 22.55
Debt ≤ 1 year
€563,027▲
2022 · €476,468
Debt > 1 year
€1.1m▲
2022 · €1.1m
Income taxes
€183,872▲
2022 · €164,470
Staff costs
€670,655▲
2022 · €472,173
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €16,453 | €5,372 | - | - |
| Remuneration, social security and pensions62 | - | - | €508,311 | €472,173 | €670,655 | ▲ 42.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €126,178 | €126,178 | €130,190 | €136,271 | €157,654 | ▲ 15.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | -€1,358 | - |
| Other operating charges640/8 | - | - | €77,318 | €75,102 | €76,393 | ▲ 1.7% |
| Non-recurring operating charges66A | - | - | - | €10,416 | €1,854 | ▼ 82.2% |
| Gross operating margin9900 | €1.2m | €1.4m | €1.5m | €1.3m | €1.4m | ▲ 14.6% |
| Operating profit (loss)9901 | €566,575 | €602,678 | €756,179 | €560,015 | €531,822 | ▼ 5.0% |
| Financial income75/76B | - | - | €9,860 | €11,541 | €12,521 | ▲ 8.5% |
| Recurring financial income75 | €12,051 | €14,982 | €9,860 | €11,541 | €12,521 | ▲ 8.5% |
| Financial charges65/66B | - | - | €42,630 | €30,877 | €29,620 | ▼ 4.1% |
| Recurring financial charges65 | €64,816 | €42,605 | €42,630 | €30,877 | €29,620 | ▼ 4.1% |
| Profit (loss) for the period before taxes9903 | €536,020 | €580,552 | €723,408 | €540,680 | €514,723 | ▼ 4.8% |
| Transfer from deferred taxes780 | - | - | €1,563 | €1,563 | €1,563 | = |
| Income taxes67/77 | €178,648 | €197,348 | €182,283 | €164,470 | €183,872 | ▲ 11.8% |
| Profit (loss) for the period9904 | €359,221 | €385,053 | €542,688 | €377,772 | €332,414 | ▼ 12.0% |
| Transfer from tax-exempt reserves789 | - | - | €51,294 | €4,688 | €182,688 | ▲ 3,797% |
| Transfer to tax-exempt reserves689 | - | - | €189,450 | €126,300 | €42,100 | ▼ 66.7% |
| Profit (loss) for the period to be appropriated9905 | €189,472 | €211,454 | €404,531 | €256,159 | €473,001 | ▲ 84.7% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.0m | €4.2m | €3.5m | €3.8m | €4.2m | ▲ 11.1% |
| Formation expenses20 | €0 | €0 | - | - | - | - |
| Fixed assets21/28 | €2.0m | €2.1m | €2.2m | €2.1m | €2.3m | ▲ 5.5% |
| Intangible fixed assets21 | €0 | €0 | - | - | - | - |
| Tangible fixed assets22/27 | €2.0m | €2.0m | €2.0m | €2.0m | €2.1m | ▲ 4.8% |
| Land and buildings22 | - | - | €1.9m | €1.9m | €1.9m | ▼ 2.2% |
| Plant, machinery and equipment23 | - | - | €2,930 | €2,123 | €1,315 | ▼ 38.0% |
| Furniture and vehicles24 | - | - | €66,324 | €68,428 | €194,159 | ▲ 184% |
| Other tangible fixed assets26 | - | - | - | €19,602 | €33,911 | ▲ 73.0% |
| Financial fixed assets28 | €83,700 | €115,502 | €147,009 | €125,696 | €146,301 | ▲ 16.4% |
| Current assets29/58 | €1.0m | €2.1m | €1.3m | €1.7m | €2.0m | ▲ 18.2% |
| Amounts receivable after more than one year29 | - | - | €175,000 | €150,000 | €105,000 | ▼ 30.0% |
| Other amounts receivable291 | - | - | €175,000 | €150,000 | €105,000 | ▼ 30.0% |
| Stocks and contracts in progress3 | €0 | €0 | - | - | - | - |
| Amounts receivable within one year40/41 | €595,720 | €595,720 | €275,590 | €742,253 | €438,293 | ▼ 41.0% |
| Trade receivables40 | - | - | €269,495 | €742,253 | €438,293 | ▼ 41.0% |
| Other amounts receivable41 | - | - | €6,095 | - | - | - |
| Current investments50/53 | €0 | €0 | - | - | - | - |
| Cash at bank and in hand54/58 | €384,452 | €969,287 | €853,519 | €756,080 | €1.4m | ▲ 85.6% |
| Deferred charges and accrued income490/1 | - | - | €20,278 | €17,907 | €23,930 | ▲ 33.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.0m | €4.2m | €3.5m | €3.8m | €4.2m | ▲ 11.1% |
| Equity10/15 | €925,751 | €1.3m | €1.9m | €2.2m | €2.6m | ▲ 14.9% |
| Contributions10/11 | €72,091 | - | €18,550 | €18,550 | €18,550 | = |
| Reserves13 | €907,201 | €1.3m | €1.8m | €2.2m | €2.5m | ▲ 15.0% |
| Non-distributable reserves130/1 | - | - | €1,855 | €1,855 | €1,855 | = |
| Reserves not available under the articles1311 | - | - | €1,855 | €1,855 | €1,855 | = |
| Tax-exempt reserves132 | - | - | €657,953 | €779,565 | €638,977 | ▼ 18.0% |
| Distributable reserves133 | - | - | €1.2m | €1.4m | €1.9m | ▲ 32.9% |
| Profit (loss) carried forward14 | €0 | €0 | - | - | - | - |
| Provisions and deferred taxes16 | €35,127 | €33,279 | €25,001 | €23,438 | €21,876 | ▼ 6.7% |
| Deferred taxes168 | - | - | €25,001 | €23,438 | €21,876 | ▼ 6.7% |
| Amounts payable17/49 | €2.1m | €2.9m | €1.6m | €1.6m | €1.6m | ▲ 5.8% |
| Amounts payable after more than one year17 | €1.7m | €1.6m | €1.2m | €1.1m | €1.1m | ▲ 0.4% |
| Financial debts170/4 | - | - | €1.2m | €1.1m | €1.1m | ▲ 0.4% |
| Amounts payable within one year42/48 | €527,466 | €1.6m | €382,571 | €476,468 | €563,027 | ▲ 18.2% |
| Current portion of amounts payable after more than one year42 | - | - | €129,230 | €126,701 | €149,496 | ▲ 18.0% |
| Financial debts43 | - | - | €26,742 | €26,751 | €38,222 | ▲ 42.9% |
| Other loans439 | - | - | €26,742 | €26,751 | €38,222 | ▲ 42.9% |
| Trade debts44 | €137,242 | €175,758 | €24,756 | €103,415 | €133,785 | ▲ 29.4% |
| Suppliers440/4 | - | - | €24,756 | €103,415 | €133,785 | ▲ 29.4% |
| Taxes, remuneration and social security45 | - | - | €156,937 | €179,584 | €238,298 | ▲ 32.7% |
| Taxes450/3 | - | - | €79,058 | €94,808 | €113,332 | ▲ 19.5% |
| Remuneration and social security454/9 | - | - | €77,880 | €84,776 | €124,966 | ▲ 47.4% |
| Other amounts payable47/48 | - | - | €44,906 | €40,017 | €3,226 | ▼ 91.9% |
| Accrued charges and deferred income492/3 | - | - | €9,268 | €1,980 | €2,075 | ▲ 4.8% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €359,221 | €385,053 | €542,688 | €377,772 | €332,414 | ▼ 12.0% |
| + Depreciation and write-downs630 | €126,178 | €126,178 | €130,190 | €136,271 | €157,654 | ▲ 15.7% |
| Operating cash flow (approximation) | €485,399 | €511,230 | €672,878 | €514,043 | €490,068 | ▼ 4.7% |
| Investment in fixed assets (approximation) | - | -€181,221 | -€183,378 | -€130,536 | -€274,965 | ▼ 111% |
| Change in cash | - | €584,834 | -€115,767 | -€97,440 | €646,927 | ▲ 764% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2023
15-11
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
28-04
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-09
Financial
Equity above €2mEq €2.2m ▲20.3%
5 profitable years in a row build equity to €2.2m.
21-04
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-09
Financial
Highest result since 2018net €542,688 ▲40.9%
Operating result €756,179, net result €542,688, both a record.
30-09
Financial
Liquidity triplescurrent ratio 3.46
Current ratio from 1.37 to 3.46; short-term debt falls from €1.6m to €382,571.
29-04
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-09
Financial
Equity above €1mEq €1.3m ▲42.1%
3 profitable years in a row build equity to €1.3m.
30-03
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
28-03
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
03-04
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
31-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
31-03
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
2015
31-03
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 11 acts read
About the unread acts
We know of 11 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 30-09-2023 list no shareholders, and no other source names one.
Holdings 1
-
25%
According to the annual accounts to 30-09-2023 of MAISTER and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2022 · 1 entry · 704 EUR awarded · 704 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 704 EUR | 704 EUR |