Masereelfonds
ActiveSummary
Masereelfonds has been active since 1971 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €906k and a net result of €42k. Equity remains stable across the filed fiscal years (±0.1% per year). Its solvency ranks better than 84% of 384 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is < 0.1% (very low).
Checked score
Score 2025
92
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability74▲+56
Solvency100=
Growth58=
Track record100
Bankruptcy probability, 12 months
< 0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €80k at 30 days acceptable
Liquidity ample (current ratio 6.47 against 11.03 in 2024; short-term debt: 6.9% and cash: 29% of total assets), and 7.3% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 94
Relative position
BE, all sectors
reference
Sector 94
lower
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
92.7%
Return on assets
4.3%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 26-07-2026, 5 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
5 d early
2024
360 d late
2023
104 d late
2022
121 d late
2021
16 d early
2020
93 d early
2019
8 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€906k▲ 4.9%
2024 · €863k
2018: €917k
2019: €834k
2020: €861k
2021: €881k
2022: €879k
2023: €867k
2024: €863k
2018 → 2025
Total assets
€977k▲ 3.2%
2024 · €947k
2018: €972k
2019: €880k
2020: €925k
2021: €954k
2022: €938k
2023: €939k
2024: €947k
2018 → 2025
Net result
€42k
2024 · €-4k
2018: €-4k
2019: €-83k
2020: €27k
2021: €20k
2022: €-2k
2023: €-12k
2024: €-4k
2018 → 2025
Working capital
€367k▼ 38.6%
2024 · €597k
2018: €573k
2019: €504k
2020: €547k
2021: €580k
2022: €588k
2023: €580k
2024: €597k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€881k-€879k▼ 0.3%€867k▼ 1.3%€863k▼ 0.5%€906k▲ 4.9%
Operating result€17k-€-9k€-1k▲ 85.9%€-25k▼ 1,832%€41k
Net result€20k-€-2k€-12k▼ 404%€-4k▲ 65.6%€42k
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €41k after a loss of €25k in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €977k
Fixed assets
€544k ▲ 87.0%
Current assets
€434k ▼ 33.9%
Equity and liabilities €977k
Equity
€906k ▲ 4.9%
Debt
€72k ▼ 14.4%
Debt's share of the balance-sheet total falls from 8.8% to 7.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€55k▲
2024 · €-11k
Cash flow
€57k▲
2024 · €10k
Current ratio
6.47▼
2024 · 11.03
Debt to equity
0.08▼
2024 · 0.10
ROE
4.7%▲
2024 · -0.5%
ROA
4.3%▲
2024 · -0.4%
Interest coverage
15.27▲
2024 · -12.01
Debt ≤ 1 year
€67k▲
2024 · €59k
Income taxes
€219
Staff costs
€337k▼
2024 · €415k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 46 lines
Balance sheet
Code20242025
Assets
Total assets20/58€947k€977k▲
Fixed assets21/28€291k€544k▲
Tangible fixed assets22/27€255k€539k▲
Land and buildings22€253k€538k▲
Furniture and vehicles24€2k€908▼
Financial fixed assets28€36k€5k▼
Current assets29/58€656k€434k▼
Amounts receivable after more than one year29-€26k
Other amounts receivable291-€26k
Amounts receivable within one year40/41€35k€47k▲
Trade receivables40€405€390▼
Other amounts receivable41€35k€46k▲
Current investments50/53€324k€76k▼
Cash at bank and in hand54/58€283k€283k=
Deferred charges and accrued income490/1€14k€2k▼
Equity and liabilities
Total equity and liabilities10/49€947k€977k▲
Equity10/15€863k€906k▲
Reserves13€323k€323k=
Profit (loss) carried forward14€540k€583k▲
Amounts payable17/49€84k€72k▼
Amounts payable within one year42/48€59k€67k▲
Trade debts44€17k€28k▲
Suppliers440/4€17k€28k▲
Taxes, remuneration and social security45€42k€36k▼
Taxes450/3-€517
Remuneration and social security454/9€42k€35k▼
Accrued charges and deferred income492/3€24k€5k▼
Income statement
Code20242025
Remuneration, social security and pensions62€415k€337k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€14k€14k▲
Other operating charges640/8€2k€593▼
Non-recurring operating charges66A-€2k
Gross operating margin9900€406k€394k▼
Operating profit (loss)9901€-25k€41k▲
Financial income75/76B€25k€5k▼
Recurring financial income75€25k€5k▼
Non-recurring financial income76B€80-
Financial charges65/66B€4k€4k▼
Recurring financial charges65€939€4k▲
Non-recurring financial charges66B€3k-
Profit (loss) for the period before taxes9903€-4k€43k▲
Income taxes67/77-€219
Profit (loss) for the period9904€-4k€42k▲
Profit (loss) for the period to be appropriated9905€-4k€42k▲
Appropriation of the result
Profit (loss) to be appropriated9906€540k€583k▲
Profit (loss) brought forward from the previous period14P€544k€540k▼
Social balance
Average headcount (FTE)90876.5-
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
26-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
26-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 360 days late
2025
31-12
Financial
Back to profitnet €42k
Net result €42k after 3 loss-making years.
2024
12-11
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 104 days late
2023
29-11
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 121 days late
2022
15-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
29-04
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Back to profitnet €27k
Net result €27k after 2 loss-making years.
23-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Weakest financial yearnet €-83k
Net result drops to €-83k, the lowest in the series; recovery starts the following year.
17-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
10 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
Registered office, Gent · 2 establishment units since 1975
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Sint-Jansvest 79000 GentGround area
445 m²
Building footprint
360 m²
Volume, LiDAR
3,701 m³
2 parcels, Flanders · tallest building 16.9 m, ±4 floors. Linked by address, not a title deed.
2 establishment units
nationaal secretariaat
since 19752.138.254.142
Sint-Jansvest 9, 9000 Gent
since 19752.138.254.241
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44803C0741/00C000 | Flanders | 236 m² | 1 · 152 m² | 11.5 m · 2 fl. |
| 44803C0743/00E000 | Flanders | 209 m² | 1 · 209 m² | 16.9 m · 4 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 9 entries · 1,411,875 EUR awarded · 1,376,685 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 3 | 394,728 EUR | 391,034 EUR |
| 2024 | 2 | 350,855 EUR | 349,868 EUR |
| 2023 | 2 | 338,842 EUR | 368,618 EUR |
| 2022 | 2 | 327,450 EUR | 267,165 EUR |
Schemes
Sociaal-cultureel volwassenenwerk: Werkingssubsidie voor een sociaal-culturele volwassenenorganisatie met een werking in Vlaanderen en Brussel (Decreet Sociaal-cultureel Volwassenenwerk 2017)
Cultuur: Tewerkstellingssubsidie voor een organisatie in het culturele veld volgens de Vlaamse Intersectorale Akkoorden (VIA) (Decreet Vlaamse Intersectorale Akkoorden 2004)
Cultuurwerk: Projectsubsidie voor een bovenlokaal cultuurproject (Decreet Bovenlokale Cultuurwerking 2018)
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Of 3,134 companies in sector 94999 we hold annual accounts for 707. 490 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formNon-profit association
Founded16-01-1971
Fiscal year end31-12
Activities, NACEBEL 2025
94999Other membership organisations
Sources
Crossroads Bank for EnterprisesNational Bank · 8 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.