MASACO
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 13-06-2026 at the NBB all 23 filings
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result for 2025 is a loss of €8,454, larger than the loss of €5,895 in 2024.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
Use the arrow keys on the chart for the figures per year.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | - | - | €1,549 |
| Depreciation and write-downs of the year | €23,890 | €12,584 | €12,054 | €11,467 | €11,493 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €24,554 | €24,406 | €24,406 | €23,890 | €12,584 | €12,054 | €11,467 | €11,493 | ▲ 0.2% |
| Other operating charges640/8 | - | - | - | €2,467 | €1,681 | €1,659 | €2,074 | €2,135 | ▲ 3.0% |
| Gross operating margin9900 | €23,961 | €50,327 | €31,271 | €14,308 | €15,913 | €9,770 | €7,646 | €5,174 | ▼ 32.3% |
| Operating profit (loss)9901 | -€2,747 | €23,733 | €4,512 | -€12,050 | €1,647 | -€3,942 | -€5,895 | -€8,454 | ▼ 43.4% |
| Financial income75/76B | - | - | - | - | - | - | - | €20 | - |
| Recurring financial income75 | - | - | - | - | - | - | - | €20 | - |
| Financial charges65/66B | - | - | - | €222 | €199 | €194 | €182 | €188 | ▲ 3.0% |
| Recurring financial charges65 | €20 | €151 | €166 | €222 | €199 | €194 | €182 | €188 | ▲ 3.0% |
| Profit (loss) for the period before taxes9903 | -€2,767 | €23,582 | €4,346 | -€12,272 | €1,448 | -€4,136 | -€6,077 | -€8,622 | ▼ 41.9% |
| Income taxes67/77 | €514 | €955 | €390 | €388 | - | -€4 | - | - | - |
| Profit (loss) for the period9904 | -€3,281 | €22,627 | €3,957 | -€12,660 | €1,448 | -€4,132 | -€6,077 | -€8,622 | ▼ 41.9% |
| Profit (loss) for the period to be appropriated9905 | -€3,281 | €22,627 | €3,957 | -€12,660 | €1,448 | -€4,132 | -€6,077 | -€8,622 | ▼ 41.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €520,229 | €490,795 | €476,818 | €438,141 | €425,459 | €413,778 | €399,678 | €390,604 | ▼ 2.3% |
| Fixed assets21/28 | €498,363 | €478,457 | €454,052 | €430,161 | €417,577 | €405,523 | €394,056 | €384,113 | ▼ 2.5% |
| Tangible fixed assets22/27 | €498,363 | €478,457 | €454,052 | €430,161 | €417,577 | €405,523 | €394,056 | €384,113 | ▼ 2.5% |
| Land and buildings22 | - | - | - | €426,093 | €415,129 | €404,165 | €393,202 | €382,238 | ▼ 2.8% |
| Plant, machinery and equipment23 | - | - | - | €2,887 | €1,554 | €751 | €216 | €1,523 | ▲ 605% |
| Furniture and vehicles24 | - | - | - | €1,181 | €894 | €607 | €639 | €352 | ▼ 44.9% |
| Current assets29/58 | €21,866 | €12,338 | €22,766 | €7,980 | €7,882 | €8,254 | €5,621 | €6,492 | ▲ 15.5% |
| Amounts receivable within one year40/41 | €20,044 | €4,726 | €3,904 | €4,958 | €4,697 | €7,819 | €5,399 | €5,399 | = |
| Trade receivables40 | - | - | - | €4,697 | €4,697 | €7,117 | €4,697 | €4,697 | = |
| Other amounts receivable41 | - | - | - | €261 | - | €702 | €702 | €702 | = |
| Cash at bank and in hand54/58 | €1,822 | €7,611 | €18,862 | €3,022 | €3,184 | €435 | €222 | €1,092 | ▲ 392% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €520,229 | €490,795 | €476,818 | €438,141 | €425,459 | €413,778 | €399,678 | €390,604 | ▼ 2.3% |
| Equity10/15 | €86,944 | €109,571 | €113,528 | €100,868 | €102,316 | €98,184 | €92,106 | €83,484 | ▼ 9.4% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €66,484 | €89,111 | €93,068 | €80,408 | €81,856 | €77,724 | €71,646 | €63,024 | ▼ 12.0% |
| Amounts payable17/49 | €433,285 | €381,224 | €363,290 | €337,273 | €323,143 | €315,594 | €307,572 | €307,120 | ▼ 0.1% |
| Amounts payable within one year42/48 | €433,285 | €381,224 | €363,290 | €337,273 | €323,143 | €315,594 | €307,572 | €307,120 | ▼ 0.1% |
| Trade debts44 | €3,373 | €4,660 | €3,692 | €1,790 | €1,862 | €1,282 | €1,291 | €2,058 | ▲ 59.5% |
| Suppliers440/4 | - | - | - | €1,790 | €1,862 | €1,282 | €1,291 | €2,058 | ▲ 59.5% |
| Taxes, remuneration and social security45 | - | - | - | €388 | €496 | - | - | - | - |
| Taxes450/3 | - | - | - | €388 | €496 | - | - | - | - |
| Other amounts payable47/48 | - | - | - | €335,096 | €320,784 | €314,312 | €306,281 | €305,062 | ▼ 0.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€3,281 | €22,627 | €3,957 | -€12,660 | €1,448 | -€4,132 | -€6,077 | -€8,622 | ▼ 41.9% |
| + Depreciation and write-downs630 | €24,554 | €24,406 | €24,406 | €23,890 | €12,584 | €12,054 | €11,467 | €11,493 | ▲ 0.2% |
| Operating cash flow (approximation) | €21,272 | €47,033 | €28,362 | €11,230 | €14,032 | €7,921 | €5,390 | €2,871 | ▼ 46.7% |
| Investment in fixed assets (approximation) | - | -€4,500 | -€0 | €0 | €0 | €0 | €0 | -€1,549 | - |
| Change in cash | - | €5,789 | €11,251 | -€15,840 | €162 | -€2,750 | -€213 | €870 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 2,450 companies had the same profile as MASACO has now. Two years later, 1.5% had gone bankrupt and 93.3% were still going.
- Micro
- 20 years or older
- solvency 10 to 30%
- a small loss
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MASACO itself: 0.8% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 2,450 companies, not a prediction for MASACO. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 23 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 13-06-2026 | 2026-00166473 | |
| 31-12-2024 | micro format | 24-06-2025 | 2025-00183888 | |
| 31-12-2023 | abbreviated format | 15-06-2024 | 2024-00138676 | |
| 31-12-2022 | abbreviated format | 17-06-2023 | 2023-00140334 | |
| 31-12-2021 | abbreviated format | 29-06-2022 | 2022-20142866 | |
| 31-12-2020 | abbreviated format | 28-06-2021 | 2021-25800184 | |
| 31-12-2019 | abbreviated format | 03-06-2020 | 2020-14300241 | |
| 31-12-2018 | abbreviated format | 19-06-2019 | 2019-20300218 | |
| 31-12-2017 | abbreviated format | 25-06-2018 | 2018-22600415 | |
| 31-12-2016 | abbreviated format | 21-06-2017 | 2017-21300021 |