Masal (0721.422.751), Bankruptcy closed: financials and annual accounts

Masal

Antwerp ·KBO/BCE: BE 0721.422.751

Line	2024	2023	2022	2021	2020	2019
Balance sheet: assets
Total assets`20/58`	143,422	110,606	157,008	100,279	61,607	51,333
Fixed assets`21/28`	4,653	16,179	21,573	16,812	17,232	15,886
Intangible fixed assets`21`	-	29	229	429	629	829
Tangible fixed assets`22/27`	2,598	14,595	19,339	14,878	15,198	15,057
Plant, machinery and equipment`23`	-	10,424	13,373	14,878	15,198	15,057
Furniture and vehicles`24`	2,598	4,171	5,966	-	-	-
Financial fixed assets`28`	2,055	1,555	2,005	1,505	1,405	-
Current assets`29/58`	138,768	94,428	135,435	83,468	44,375	35,448
Stocks and contracts in progress`3`	1,341	13	3,417	3,417	939	2,165
Stocks`30/36`	1,341	13	3,417	3,417	939	2,165
Amounts receivable within one year`40/41`	124,507	79,045	63,968	56,235	37,383	30,131
Trade receivables`40`	51,039	15,132	1,488	1,488	1,488	5,768
Other amounts receivable`41`	73,469	63,913	62,480	54,747	35,895	24,363
Cash at bank and in hand`54/58`	12,232	15,369	53,336	12,637	3,453	3,151
Deferred charges and accrued income`490/1`	689	-	14,714	11,179	2,600	-
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	143,422	110,606	157,008	100,279	61,607	51,333
Equity`10/15`	34,523	36,629	43,554	45,700	34,243	23,546
Contributions`10/11`	15,700	15,700	15,700	15,700	15,700	12,200
Issued capital`100`	-	-	-	-	-	18,600
Uncalled capital`101`	-	-	-	-	-	6,400
Reserves`13`	1,860	1,860	1,860	1,860	1,860	1,860
Non-distributable reserves`130/1`	1,860	1,860	1,860	1,860	1,860	-
Legal reserve`130`	-	-	-	-	-	1,860
Reserves not available under the articles`1311`	1,860	1,860	1,860	1,860	1,860	-
Profit (loss) carried forward`14`	16,963	19,069	25,994	28,140	16,683	9,486
Amounts payable`17/49`	108,899	73,978	113,454	54,579	27,364	27,787
Amounts payable after more than one year`17`	-	2,282	16,268	-	-	5,901
Financial debts`170/4`	-	2,282	16,268	-	-	5,901
Amounts payable within one year`42/48`	108,899	68,696	97,186	54,579	27,364	21,886
Current portion of amounts payable after more than one year`42`	-	5,205	4,646	8,188	-	-
Financial debts`43`	41,142	46,880	50,636	7,884	7,273	5,614
Credit institutions`430/8`	1,142	6,880	636	7,884	6,562	5,614
Other loans`439`	40,000	40,000	50,000	-	711	-
Trade debts`44`	25,862	10,682	36,619	13,107	12,507	9,194
Suppliers`440/4`	25,862	10,682	36,619	13,107	12,507	9,194
Taxes, remuneration and social security`45`	3,148	4,429	3,786	-	6,084	5,938
Taxes`450/3`	3,148	4,429	3,786	-	6,084	5,455
Remuneration and social security`454/9`	-	-	-	-	-	483
Other amounts payable`47/48`	38,747	1,500	1,500	25,400	1,500	1,140
Accrued charges and deferred income`492/3`	-	3,000	-	-	-	-
Income statement
Non-recurring operating income`76A`	-	-	-	-	1,240	-
Gross operating margin`9900`	-34,896	628	55,227	40,410	26,908	26,307
Remuneration, social security and pensions`62`	3,073	468	38,944	22,776	8,962	8,540
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	1,573	4,944	4,037	5,486	3,700	2,714
Other operating charges`640/8`	3,748	3,856	7,944	9,561	4,907	994
Operating profit (loss)`9901`	-43,291	-8,640	4,303	2,588	9,340	14,058
Financial income`75/76B`	43,905	5,124	-	15,161	196	1,006
Recurring financial income`75`	3,206	5,124	-	15,161	196	1,006
Non-recurring financial income`76B`	40,699	-	-	-	-	-
Financial charges`65/66B`	2,721	2,698	4,264	3,333	2,339	810
Recurring financial charges`65`	2,721	2,698	4,264	3,333	2,339	810
Profit (loss) for the period before taxes`9903`	-2,106	-6,214	38	14,416	7,197	14,254
Income taxes`67/77`	-	711	2,185	2,959	-	2,908
Profit (loss) for the period`9904`	-2,106	-6,925	-2,147	11,457	7,197	11,346
Profit (loss) for the period to be appropriated`9905`	-2,106	-6,925	-2,147	11,457	7,197	11,346
Appropriation of the result
Profit (loss) to be appropriated`9906`	16,963	19,069	25,994	28,140	16,683	11,346
Profit (loss) brought forward from the previous period`14P`	19,069	25,994	28,140	16,683	-	-
Transfer to equity`691/2`	-	-	-	-	-	1,860
To the legal reserve`6920`	-	-	-	-	-	1,860
Document	PDF	PDF	PDF	PDF	PDF	PDF

Financial year	Type	Filed	Reference	Document
31-12-2024	micro format	30-09-2025	2025-00524947	PDF
31-12-2023	micro format	30-08-2024	2024-00418968	PDF
31-12-2022	micro format	14-07-2023	2023-00234972	PDF
31-12-2021	micro format	29-06-2022	2022-20115769	PDF
31-12-2020	micro format	06-05-2021	2021-13500002	PDF
31-12-2019	micro format	29-10-2020	2020-64700072	PDF

Line	2024	2023	2022	2021	2020	2019
EBITDA	-41,717	-3,696	8,339	8,074	13,039	16,772
Cash flow	-533	-1,981	1,890	16,943	10,897	14,060
Investment in fixed assets (approximation)	500	-450	8,798	5,066	5,046	18,600
Change in cash	-3,138	-37,966	40,699	9,184	301	-
Working capital	29,869	25,732	38,249	28,889	17,012	13,562
Solvency	24.1%	33.1%	27.7%	45.6%	55.6%	45.9%
Current ratio	1.27	1.37	1.39	1.53	1.62	1.62
Quick ratio	1.26	1.37	1.36	1.47	1.59	1.52
Debt to equity	3.15	2.02	2.60	1.19	0.80	1.18
ROE	-6.1%	-18.9%	-4.9%	25.1%	21.0%	48.2%
ROA	-1.5%	-6.3%	-1.4%	11.4%	11.7%	22.1%
Interest coverage	-15.33	-1.37	1.96	2.42	-	-

Item	2024	2023	2022	2021
Tangible fixed assets	-	-	€8,298	€4,966
Financial fixed assets	€500	-	€500	€100
Depreciation and write-downs of the year	€1,573	€4,944	€4,037	€5,486

Masal

Annual accounts 2024

Balance sheet

Change in equityin euro

Change in cashin euro

Position in the sector

Solvency24.1%

Current ratio1.27

Return on assets-1.5%

Filed annual accounts

Filings

Subsidies and aid

Flemish government 2022, 1 entry, €2,000 awarded, €2,000 paid

Key figures and ratios

Investments

Insights on Masal