MAS CONSTRUCT
InactiveMAS CONSTRUCT was declared bankrupt on 19-10-2023 (Ondernemingsrechtbank Antwerpen, afdeling Antwerpen); the bankruptcy was closed for insufficient assets by judgment of 18-03-2025, published in the Belgian State Gazette on 24-03-2025.
Summary
Inactive; last annual accounts for fiscal year 2021.
Signals
Three 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 31-08-2022, 4 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 · 5 filingsPosition against the passed deadline
31-08-2022 close31-03-2023 deadline26-09-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 31-08-2021 was due by 31-03-2022 and was filed on 10-03-2022, 21 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
not filed
2024
not filed
2023
not filed
2022
not filed
2021
21 d early
2020
5 d early
2019
22 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 3 accounts on average 16 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)
History
Financials · fiscal year 2021, micro schema
Turnover
€118,051▼ 5.0%
2020 · €124,260
EBIT margin
26.5%▲ 7.9pp
2020 · 18.6%
Net result
€22,901▲ 32.1%
2020 · €17,338
Working capital
€83,117▲ 39.6%
2020 · €59,557
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
Line201920202021
Turnover€274,633-€124,260▼ 54.8%€118,051▼ 5.0%
Operating result€36,636-€23,093▼ 37.0%€31,274▲ 35.4%
Net result€27,765-€17,338▼ 37.6%€22,901▲ 32.1%
EBIT margin13.3%-18.6%▲ 5.2pp26.5%▲ 7.9pp
Equity€49,842-€67,180▲ 34.8%€90,081▲ 34.1%
Total assets€64,400-€124,138▲ 92.8%€122,254▼ 1.5%
Debt€14,558-€56,958▲ 291%€32,173▼ 43.5%
Working capital€49,842-€59,557▲ 19.5%€83,117▲ 39.6%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2021; 2021 is 35% above 2020.
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Assets €122,254
Fixed assets
€21,996 ▼ 24.0%
Current assets
€100,258 ▲ 5.3%
Equity and liabilities €122,254
Equity
€90,081 ▲ 34.1%
Debt
€32,173 ▼ 43.5%
Debt's share of the balance-sheet total falls from 45.9% to 26.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€38,220
Cash flow
€29,847
Current ratio
5.85▲
2020 · 2.67
Debt to equity
0.17▼
2020 · 0.32
ROE
25.4%▼
2020 · 25.8%
ROA
18.7%▲
2020 · 14.0%
Debt ≤ 1 year
€17,141▼
2020 · €35,640
Debt > 1 year
€15,032▼
2020 · €21,318
Income taxes
€7,250▲
2020 · €5,523
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|
| Turnover70 | €274,633 | €124,260 | €118,051 | ▼ 5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | €6,946 | - |
| Gross operating margin9900 | €37,180 | €30,806 | €39,746 | ▲ 29.0% |
| Operating profit (loss)9901 | €36,636 | €23,093 | €31,274 | ▲ 35.4% |
| Recurring financial charges65 | €6 | €232 | €1,124 | ▲ 385% |
| Profit (loss) for the period before taxes9903 | €36,630 | €22,861 | €30,150 | ▲ 31.9% |
| Income taxes67/77 | €8,865 | €5,523 | €7,250 | ▲ 31.3% |
| Profit (loss) for the period9904 | €27,765 | €17,338 | €22,901 | ▲ 32.1% |
| Profit (loss) for the period to be appropriated9905 | €27,765 | €17,338 | €22,901 | ▲ 32.1% |
| Line | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €64,400 | €124,138 | €122,254 | ▼ 1.5% |
| Fixed assets21/28 | - | €28,942 | €21,996 | ▼ 24.0% |
| Tangible fixed assets22/27 | - | €28,942 | €21,996 | ▼ 24.0% |
| Current assets29/58 | €64,400 | €95,196 | €100,258 | ▲ 5.3% |
| Amounts receivable within one year40/41 | €58,363 | €86,550 | €95,444 | ▲ 10.3% |
| Cash at bank and in hand54/58 | €6,037 | €8,646 | €4,814 | ▼ 44.3% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €64,400 | €124,138 | €122,254 | ▼ 1.5% |
| Equity10/15 | €49,842 | €67,180 | €90,081 | ▲ 34.1% |
| Contributions10/11 | €18,600 | - | - | - |
| Reserves13 | €16,860 | €16,860 | €16,860 | = |
| Profit (loss) carried forward14 | €14,382 | €31,720 | €54,621 | ▲ 72.2% |
| Amounts payable17/49 | €14,558 | €56,958 | €32,173 | ▼ 43.5% |
| Amounts payable after more than one year17 | - | €21,318 | €15,032 | ▼ 29.5% |
| Amounts payable within one year42/48 | €14,558 | €35,640 | €17,141 | ▼ 51.9% |
| Trade debts44 | €5,693 | €23,672 | €3,289 | ▼ 86.1% |
| Line | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €27,765 | €17,338 | €22,901 | ▲ 32.1% |
| + Depreciation and write-downs630 | - | - | €6,946 | - |
| Operating cash flow (approximation) | €27,765 | €17,338 | €29,847 | ▲ 72.1% |
| Investment in fixed assets (approximation) | - | - | €0 | - |
| Change in cash | - | €2,609 | -€3,832 | ▼ 247% |
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
2025
24-03
Bankruptcy
Bankruptcy closure (insufficient assets)
Ondernemingsrechtbank Antwerpen, afdeling Antwerpen · event 18-03-2025
2023
25-10
Bankruptcy
Opening
Ondernemingsrechtbank Antwerpen, afdeling Antwerpen · event 19-10-2023
2022
10-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-08
Financial
Liquidity doublescurrent ratio 5.85
Current ratio from 2.67 to 5.85; short-term debt falls from €35,640 to €17,141.
26-03
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-08
Financial
Weakest financial yearnet €17,338 ▼37.6%
Net result drops to €17,338, the lowest in the series.
09-03
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
25-02
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
28-02
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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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Directors · office · real estate
Directors
7 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | GUY VAN DENABEELE VAN BEETHOVENSTRAAT 28
BUS 402, 2018 ANTWERPEN 1 |
19-10-2023 → 18-03-2025 |