MASCO HEATING
Open bankruptcyFinancials · financial year 2023, micro format
Equity
€32,761▲ 2.4%
2022 · €31,997
Total assets
€107,083▼ 2.9%
2022 · €110,226
Net result
€764▼ 88.7%
2022 · €6,746
Working capital
€15,179▼ 41.7%
2022 · €26,019
Trend over the years
2019 to 2023, 5 financial years 2018 to 2023, 6 financial years
The operating result has fallen two years in a row; 2023 is 94% below 2022 and is the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€798
2023
Net result€764
2023
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€107,083
2023
Equity€32,761
2023
Debt€74,322
2023
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€15,179
2023
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)0.7%
2023
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency30.6%
2023
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio1.22
2023
Average staff in full-time equivalents (FTE).
Staff (FTE)1.1
2023
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 43, Specialised construction activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line201820192020202120222023
Operating result€454-€9,739▲ 2,045%€1,422▼ 85.4%€17,638▲ 1,141%€12,388▼ 29.8%€798▼ 93.6%
Net result€377-€7,603▲ 1,915%€2,008within the sector's middle half▼ 73.6%€15,006within the sector's middle half▲ 647%€6,746within the sector's middle half▼ 55.0%€764within the sector's middle half▼ 88.7%
Equity€635-€8,238▲ 1,197%€10,246below the sector's middle half▲ 24.4%€25,252within the sector's middle half▲ 146%€31,997within the sector's middle half▲ 26.7%€32,761within the sector's middle half▲ 2.4%
Total assets€10,281-€18,151▲ 76.5%€73,101within the sector's middle half▲ 303%€54,889below the sector's middle half▼ 24.9%€110,226within the sector's middle half▲ 101%€107,083within the sector's middle half▼ 2.9%
Debt€9,646-€9,912▲ 2.8%€62,855▲ 534%€29,637▼ 52.8%€78,228▲ 164%€74,322▼ 5.0%
Working capital€705-€2,717▲ 286%€5,217within the sector's middle half▲ 92.0%€13,678within the sector's middle half▲ 162%€26,019within the sector's middle half▲ 90.2%€15,179within the sector's middle half▼ 41.7%
Solvency6.2%-45.4%▲ 39.2pp14.0%below the sector's middle half▼ 31.4pp46.0%within the sector's middle half▲ 32.0pp29.0%within the sector's middle half▼ 17.0pp30.6%within the sector's middle half▲ 1.6pp
Current ratio1.08-1.34▲ 0.251.10below the sector's middle half▼ 0.241.53within the sector's middle half▲ 0.441.42within the sector's middle half▼ 0.111.22within the sector's middle half▼ 0.20
Return on assets (ROA)3.7%-41.9%▲ 38.2pp2.7%within the sector's middle half▼ 39.1pp27.3%above the sector's middle half▲ 24.6pp6.1%within the sector's middle half▼ 21.2pp0.7%within the sector's middle half▼ 5.4pp
Staff (FTE)11.1▲ 10.0%
above
within
below
the middle half of NACE 43, Specialised construction activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the micro format does not require them.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €107,083
Fixed assets
€23,218 ▲ 2.9%
Current assets
€83,865 ▼ 4.3%
Equity and liabilities €107,083
Equity
€32,761 ▲ 2.4%
Debt
€74,322 ▼ 5.0%
Debt's share of the balance-sheet total falls from 71.0% to 69.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€5,633▼
2022 · €16,659
Cash flow
€5,599▼
2022 · €11,017
Quick ratio
0.44▲
2022 · 0.42
Debt to equity
2.27▼
2022 · 2.44
ROE
2.3%▼
2022 · 21.1%
Interest coverage
2.54▼
2022 · 2.78
Debt ≤ 1 year
€68,686▲
2022 · €61,649
Income taxes
€370▼
2022 · €1,948
Staff costs
€58,525▲
2022 · €29,752
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €2,202 | €14,761 | ▲ 570% |
| Remuneration, social security and pensions62 | - | - | - | €16,106 | €29,752 | €58,525 | ▲ 96.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €553 | €2,400 | €2,908 | €3,638 | €4,271 | €4,835 | ▲ 13.2% |
| Other operating charges640/8 | - | - | - | €1,645 | €1,036 | €1,965 | ▲ 89.7% |
| Gross operating margin9900 | €1,232 | €13,654 | €5,360 | €39,027 | €47,447 | €66,123 | ▲ 39.4% |
| Operating profit (loss)9901 | €454 | €9,739 | €1,422 | €17,638 | €12,388 | €798 | ▼ 93.6% |
| Financial income75/76B | - | - | - | €2,482 | €2,298 | €2,556 | ▲ 11.2% |
| Recurring financial income75 | €53 | €183 | €1,859 | €2,482 | €2,298 | €2,556 | ▲ 11.2% |
| Financial charges65/66B | - | - | - | €1,425 | €5,992 | €2,220 | ▼ 63.0% |
| Recurring financial charges65 | €20 | €383 | €1,154 | €1,425 | €5,992 | €2,220 | ▼ 63.0% |
| Profit (loss) for the period before taxes9903 | €488 | €9,539 | €2,127 | €18,695 | €8,694 | €1,134 | ▼ 87.0% |
| Income taxes67/77 | €110 | €1,936 | €119 | €3,689 | €1,948 | €370 | ▼ 81.0% |
| Profit (loss) for the period9904 | €377 | €7,603 | €2,008 | €15,006 | €6,746 | €764 | ▼ 88.7% |
| Profit (loss) for the period to be appropriated9905 | €377 | €7,603 | €2,008 | €15,006 | €6,746 | €764 | ▼ 88.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €10,281 | €18,151 | €73,101 | €54,889 | €110,226 | €107,083 | ▼ 2.9% |
| Fixed assets21/28 | €1,106 | €7,337 | €14,692 | €15,588 | €22,558 | €23,218 | ▲ 2.9% |
| Tangible fixed assets22/27 | €1,106 | €7,337 | €14,692 | €15,588 | €19,858 | €20,518 | ▲ 3.3% |
| Land and buildings22 | - | - | - | €3,090 | €4,158 | €8,330 | ▲ 100% |
| Plant, machinery and equipment23 | - | - | - | €5,227 | €8,629 | €6,108 | ▼ 29.2% |
| Furniture and vehicles24 | - | - | - | €7,270 | €7,072 | €6,079 | ▼ 14.0% |
| Financial fixed assets28 | - | - | - | - | €2,700 | €2,700 | = |
| Current assets29/58 | €9,175 | €10,813 | €58,409 | €39,301 | €87,667 | €83,865 | ▼ 4.3% |
| Stocks and contracts in progress3 | - | - | €6,950 | €5,250 | €61,673 | €53,500 | ▼ 13.3% |
| Stocks30/36 | - | - | - | €5,250 | €47,600 | €53,500 | ▲ 12.4% |
| Contracts in progress37 | - | - | - | - | €14,073 | - | - |
| Amounts receivable within one year40/41 | €6,530 | €10,301 | €47,716 | €29,316 | €22,479 | €23,676 | ▲ 5.3% |
| Trade receivables40 | - | - | - | €21,476 | €12,144 | €14,354 | ▲ 18.2% |
| Other amounts receivable41 | - | - | - | €7,840 | €10,335 | €9,322 | ▼ 9.8% |
| Cash at bank and in hand54/58 | €2,645 | €512 | €621 | €3,924 | €297 | €4,005 | ▲ 1,248% |
| Deferred charges and accrued income490/1 | - | - | - | €811 | €3,218 | €2,684 | ▼ 16.6% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €10,281 | €18,151 | €73,101 | €54,889 | €110,226 | €107,083 | ▼ 2.9% |
| Equity10/15 | €635 | €8,238 | €10,246 | €25,252 | €31,997 | €32,761 | ▲ 2.4% |
| Contributions10/11 | €18,592 | €18,592 | - | €18,592 | €18,592 | €18,592 | = |
| Contributions outside capital11 | - | - | - | €18,592 | €18,592 | €18,592 | = |
| Other1109/19 | - | - | - | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €1,859 | €1,859 | €1,859 | €6,660 | €13,405 | €14,169 | ▲ 5.7% |
| Non-distributable reserves130/1 | - | - | - | €1,859 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,859 | - | - | - |
| Distributable reserves133 | - | - | - | €4,800 | €13,405 | €14,169 | ▲ 5.7% |
| Profit (loss) carried forward14 | -€19,816 | -€12,213 | -€10,205 | - | - | - | - |
| Amounts payable17/49 | €9,646 | €9,912 | €62,855 | €29,637 | €78,228 | €74,322 | ▼ 5.0% |
| Amounts payable within one year42/48 | €8,470 | €8,096 | €53,192 | €25,623 | €61,649 | €68,686 | ▲ 11.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €3,250 | €1,380 | ▼ 57.5% |
| Trade debts44 | €905 | €2,951 | €45,249 | €15,710 | €44,328 | €47,012 | ▲ 6.1% |
| Suppliers440/4 | - | - | - | €15,710 | €44,328 | €47,012 | ▲ 6.1% |
| Taxes, remuneration and social security45 | - | - | - | €9,904 | €13,765 | €19,987 | ▲ 45.2% |
| Taxes450/3 | - | - | - | €6,208 | €11,957 | €19,987 | ▲ 67.2% |
| Remuneration and social security454/9 | - | - | - | €3,696 | €1,808 | - | - |
| Other amounts payable47/48 | - | - | - | €10 | €306 | €307 | ▲ 0.2% |
| Accrued charges and deferred income492/3 | - | - | - | €4,014 | €16,580 | €5,636 | ▼ 66.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €377 | €7,603 | €2,008 | €15,006 | €6,746 | €764 | ▼ 88.7% |
| + Depreciation and write-downs630 | €553 | €2,400 | €2,908 | €3,638 | €4,271 | €4,835 | ▲ 13.2% |
| Operating cash flow (approximation) | €930 | €10,003 | €4,916 | €18,644 | €11,017 | €5,599 | ▼ 49.2% |
| Investment in fixed assets (approximation) | - | -€8,632 | -€10,263 | -€4,534 | -€11,242 | -€5,495 | ▲ 51.1% |
| Change in cash | - | -€2,133 | €109 | €3,303 | -€3,627 | €3,708 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 25 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2023 | micro format | 27-06-2024 | 2024-00175013 |
| 31-12-2022 | micro format | 23-06-2023 | 2023-00154931 |
| 31-12-2021 | micro format | 28-06-2022 | 2022-20098085 |
| 31-12-2020 | micro format | 30-06-2021 | 2021-28600566 |
| 31-12-2019 | micro format | 29-06-2020 | 2020-21400094 |
| 31-12-2018 | micro format | 26-06-2019 | 2019-22200442 |
| 31-12-2017 | micro format | 19-07-2018 | 2018-35400218 |
| 31-12-2016 | micro format | 21-08-2017 | 2017-45400305 |
| 31-12-2015 | abbreviated format | 23-08-2016 | 2016-45900048 |
| 31-12-2014 | abbreviated format | 28-07-2015 | 2015-35900125 |
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Of the 6,977 active companies whose main activity is plumbing work (NACE 43221), figures are known for 3,527. 2,838 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Subsidies and aid
Flemish government
2022 to 2025 · 2 entries · €1,037 awarded · €1,037 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €173 | €173 |
| 2022 | 1 | €864 | €864 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.