MASGEST

Active

Private limited companyfounded 20196 yrs activeRue Haute Claire 20, 4041 Herstal, BelgiumKBO/BCE: BE 0735.409.557

Summary

MASGEST has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €5,276 and a net result of €127,075. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 11% of 31840 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).

Risk analysis Watch Report Compare

MASGESTActiveChecked score 68/100

Risk analysis Report Compare

Checked score

Score 2025

68 / 100

Healthy

Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability100=

Solvency28▼-58

Growth58▼-20

Track record100

Bankruptcy probability, 12 months

0.4% Very low

0%0.5%1.5%4%10%≥ 25%

Credit check for your own amount and term

Open the credit simulator : see how the verdict changes with amount, term and advance.

Signals

Six signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Lower-failure-rate sector

In this sector companies fail less often than the Belgian average.

Gazette · bankruptcies per sector, NACE 70

Relative position

BE, all sectors

reference

Activities of head offices; management consultancy activities (NACE 70)

about 69% fewer bankruptcies

← fewer bankruptcies more bankruptcies →

Limited track record

This company has not been active as long as an established one and statistically fails somewhat more often.

KBO · incorporation date

Age against the risk zone

Annual accounts: healthy financial profile

The latest annual accounts show a healthy profile in solvency, result and liquidity.

NBB · annual accounts 2025

Solvency, return and age of the figures

Solvency

3.1%

Return on assets

74.2%

Age of the figures

9 mo

Higher-failure-rate region

In this region companies fail more often than in the rest of the country.

KBO · registered office

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 11% of 31840 sector peers (2025).

NBB · sector comparison

Position among 31840 sector peers

Solvency

better than 11%

← weakest strongest →

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 23-07-2026, 8 days ahead of the deadline.

NBB · 6 filings

Deviation from the deadline

2025

8 d early

2024

9 d early

2023

3 d late

2022

on the day

2021

16 d early

2020

4 d early

← before the deadline after the deadline →

tick = median of all Belgian filingsring = median in the sector

This company filed its last 6 accounts on average 6 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.

Checked, nothing found (2)

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 months

Position in the running window

26-09-2026 today31-12-2026 close31-07-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

History

MASGEST was incorporated on 30 September 2019 as a Private limited company.¹ Total assets rose from EUR 109,023 in 2020 to EUR 171,176 in 2025.²

Go further with this company

How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed Roughly what is this company worth?Value indication

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Investigating this company? Keep it with today's facts in a case file.

Financials · fiscal year 2025, micro schema

Equity

€5,276▼ 95.3%

2024 · €113,201

Total assets

€171,176▼ 8.0%

2024 · €185,971

Net result

€127,075▲ 18.3%

2024 · €107,374

Working capital

-€10,970

2024 · €94,035

Trend over the years

Chart Table

Click a name to add, emphasise or remove a line.

Every figure with its change against the fiscal year before

favourable unfavourable

Line20212022202320242025

Operating result€49,457▼ 29.4%€67,950▲ 37.4%€94,529▲ 39.1%€139,332▲ 47.4%€170,284▲ 22.2%

Net result€38,501▼ 29.0%€56,211▲ 46.0%€73,873▲ 31.4%€107,374▲ 45.3%€127,075▲ 18.3%

Equity€97,742▲ 65.0%€153,953▲ 57.5%€82,826▼ 46.2%€113,201▲ 36.7%€5,276▼ 95.3%

Total assets€199,434▲ 82.9%€233,926▲ 17.3%€150,611▼ 35.6%€185,971▲ 23.5%€171,176▼ 8.0%

Debt€101,692▲ 104%€79,973▼ 21.4%€67,785▼ 15.2%€72,770▲ 7.4%€165,900▲ 128%

Working capital€83,530▲ 41.0%€137,105▲ 64.1%€62,983▼ 54.1%€94,035▲ 49.3%-€10,970

Turnover and EBIT margin not published: the micro schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result has risen four years in a row; 2025 is 22% above 2024 and is the highest result in the available series.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €171,176

90.5%

Fixed assets €16,246 ▼ 15.2%

Current assets €154,930 ▼ 7.1%

Equity and liabilities €171,176

96.9%

Equity €5,276 ▼ 95.3%

Debt €165,900 ▲ 128%

Debt's share of the balance-sheet total rises from 39.1% to 96.9%. Equity is lower and debt is higher.

Key figures and ratios

2025 value · change against 2024

EBITDA

€183,190▲

2024 · €150,805

Cash flow

€139,981▲

2024 · €118,847

Current ratio

0.93▼

2024 · 2.29

Debt to equity

31.44▲

2024 · 0.64

ROA

74.2%▲

2024 · 57.7%

Interest coverage

1137.83▲

2024 · 340.42

Debt ≤ 1 year

€165,900▲

2024 · €72,770

Income taxes

€43,048▲

2024 · €31,515

Staff costs

€4,531▲

2024 · €2,931

A ratio outside any meaningful range has been withheld (balance sheet total €171,176, equity €5,276).

Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Annual accounts

OverviewIncome statement Balance sheet Cash flow

Filed annual accounts As filed with the NBB · 2025 against 2024 · 37 lines

Balance sheet Code20242025

Assets

Total assets20/58€185,971€171,176▼

Fixed assets21/28€19,166€16,246▼

Tangible fixed assets22/27€19,166€16,246▼

Furniture and vehicles24€19,166€16,246▼

Current assets29/58€166,805€154,930▼

Amounts receivable within one year40/41€72,975€76,588▲

Trade receivables40€72,975€76,588▲

Cash at bank and in hand54/58€92,156€76,363▼

Deferred charges and accrued income490/1€1,674€1,979▲

Equity and liabilities

Total equity and liabilities10/49€185,971€171,176▼

Equity10/15€113,201€5,276▼

Contributions10/11€5,000€5,000=

Profit (loss) carried forward14€108,201€276▼

Amounts payable17/49€72,770€165,900▲

Amounts payable within one year42/48€72,770€165,900▲

Current portion of amounts payable after more than one year42€10,796-

Trade debts44€21,942€21,885▼

Suppliers440/4€21,942€21,885▼

Taxes, remuneration and social security45€40,032€9,015▼

Taxes450/3€30,798€9,015▼

Remuneration and social security454/9€9,234-

Other amounts payable47/48-€135,000

Income statement Code20242025

Remuneration, social security and pensions62€2,931€4,531▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€11,473€12,906▲

Other operating charges640/8€949€604▼

Gross operating margin9900€154,685€188,325▲

Operating profit (loss)9901€139,332€170,284▲

Financial charges65/66B€443€161▼

Recurring financial charges65€443€161▼

Profit (loss) for the period before taxes9903€138,889€170,123▲

Income taxes67/77€31,515€43,048▲

Profit (loss) for the period9904€107,374€127,075▲

Profit (loss) for the period to be appropriated9905€107,374€127,075▲

Appropriation of the result

Profit (loss) to be appropriated9906€185,201€235,276▲

Profit (loss) brought forward from the previous period14P€77,827€108,201▲

Profit to be distributed694/7€77,000€235,000▲

Return on contributions (dividend)694€77,000€235,000▲

The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line	2021	2022	2023	2024	2025	Change
Remuneration, social security and pensions62	-	-	-	€2,931	€4,531	▲ 54.6%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630	€3,787	€11,417	€11,818	€11,473	€12,906	▲ 12.5%
Other operating charges640/8	€848	€679	€550	€949	€604	▼ 36.4%
Gross operating margin9900	€54,092	€80,046	€106,897	€154,685	€188,325	▲ 21.7%
Operating profit (loss)9901	€49,457	€67,950	€94,529	€139,332	€170,284	▲ 22.2%
Financial charges65/66B	€290	€798	€582	€443	€161	▼ 63.7%
Recurring financial charges65	€290	€798	€582	€443	€161	▼ 63.7%
Profit (loss) for the period before taxes9903	€49,167	€67,152	€93,947	€138,889	€170,123	▲ 22.5%
Income taxes67/77	€10,666	€10,941	€20,074	€31,515	€43,048	▲ 36.6%
Profit (loss) for the period9904	€38,501	€56,211	€73,873	€107,374	€127,075	▲ 18.3%
Profit (loss) for the period to be appropriated9905	€38,501	€56,211	€73,873	€107,374	€127,075	▲ 18.3%

Line	2021	2022	2023	2024	2025	Change
Assets
Total assets20/58	€199,434	€233,926	€150,611	€185,971	€171,176	▼ 8.0%
Fixed assets21/28	€53,296	€41,879	€30,639	€19,166	€16,246	▼ 15.2%
Tangible fixed assets22/27	€53,296	€41,879	€30,639	€19,166	€16,246	▼ 15.2%
Furniture and vehicles24	€53,296	€41,879	€30,639	€19,166	€16,246	▼ 15.2%
Current assets29/58	€146,138	€192,047	€119,972	€166,805	€154,930	▼ 7.1%
Amounts receivable within one year40/41	€33,191	€64,734	€52,857	€72,975	€76,588	▲ 5.0%
Trade receivables40	€33,191	€64,734	€52,857	€72,975	€76,588	▲ 5.0%
Cash at bank and in hand54/58	€101,977	€125,790	€65,516	€92,156	€76,363	▼ 17.1%
Deferred charges and accrued income490/1	€10,970	€1,523	€1,599	€1,674	€1,979	▲ 18.2%
Equity and liabilities
Total equity and liabilities10/49	€199,434	€233,926	€150,611	€185,971	€171,176	▼ 8.0%
Equity10/15	€97,742	€153,953	€82,826	€113,201	€5,276	▼ 95.3%
Contributions10/11	€5,000	€5,000	€5,000	€5,000	€5,000	=
Profit (loss) carried forward14	€92,742	€148,953	€77,826	€108,201	€276	▼ 99.7%
Amounts payable17/49	€101,692	€79,973	€67,785	€72,770	€165,900	▲ 128%
Amounts payable after more than one year17	€39,084	€25,031	€10,796	-	-	-
Financial debts170/4	€39,084	€25,031	€10,796	-	-	-
Amounts payable within one year42/48	€62,608	€54,942	€56,989	€72,770	€165,900	▲ 128%
Current portion of amounts payable after more than one year42	€13,875	€14,054	€14,235	€10,796	-	-
Trade debts44	€27,931	€15,913	€10,038	€21,942	€21,885	▼ 0.3%
Suppliers440/4	€27,931	€15,913	€10,038	€21,942	€21,885	▼ 0.3%
Taxes, remuneration and social security45	€20,802	€24,975	€32,716	€40,032	€9,015	▼ 77.5%
Taxes450/3	€17,287	€21,856	€28,345	€30,798	€9,015	▼ 70.7%
Remuneration and social security454/9	€3,515	€3,119	€4,371	€9,234	-	-
Other amounts payable47/48	-	-	-	-	€135,000	-

Line	2021	2022	2023	2024	2025	Change
Profit (loss) for the period9904	€38,501	€56,211	€73,873	€107,374	€127,075	▲ 18.3%
+ Depreciation and write-downs630	€3,787	€11,417	€11,818	€11,473	€12,906	▲ 12.5%
Operating cash flow (approximation)	€42,288	€67,628	€85,691	€118,847	€139,981	▲ 17.8%
Investment in fixed assets (approximation)	-	€0	-€578	€0	-€9,986	-
Change in cash	-	€23,813	-€60,274	€26,640	-€15,793	▼ 159%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

Download as CSV

Timeline · acts, filings and financial milestones

All 10Financial 4Filings 6

Next filing, fiscal year 2026, expected by 31-07-2027

2026

23-07

NBB filing Annual accounts filed

fiscal year 2025 · micro schema

2025

31-12

Financial Highest result since 2020net €127,075 ▲18.3%

Operating result €170,284, net result €127,075, both a record.

22-07

NBB filing Annual accounts filed

fiscal year 2024 · micro schema

2024

31-12

Financial Equity above €100,000Eq €113,201 ▲36.7%

5 profitable years in a row build equity to €113,201.

03-08

NBB filing Annual accounts filed

fiscal year 2023 · micro schema · 3 days late

2023

31-07

NBB filing Annual accounts filed

fiscal year 2022 · micro schema

2022

31-12

Financial Equity above €150,000Eq €153,953 ▲57.5%

3 profitable years in a row build equity to €153,953.

15-07

NBB filing Annual accounts filed

fiscal year 2021 · micro schema

2021

31-12

Financial Weakest financial yearnet €38,501 ▼29%

Net result drops to €38,501, the lowest in the series; recovery starts the following year.

27-07

NBB filing Annual accounts filed

fiscal year 2020 · micro schema

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.

Location & real-estate footprint

Registered office, Herstal · 1 establishment unit since 2019

seat establishment The establishment unit on the map

Ground area

2,337 m²

Building footprint

807 m²

Volume, LiDAR

4,055 m³

Parcel 62071B0730/00G000, Wallonia · tallest building 7.4 m, ±2 floors. Linked by address, not a title deed.

4 companies at this address See who is registered here

1 establishment unit

MASGEST

Rue Haute Claire 20, 4041 HerstalManufacture of rubber and plastic products

since 20192.297.264.559

1 parcel

Wallonia 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
62071B0730/00G000	Wallonia	2,337 m²	1 · 807 m²	7.4 m · 2 fl.

Linked by address, not proof of ownership

Good to know

1 of 1 parcel with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Similar companies · same sector, comparable size

DEV-CONSULT

BE 0876.972.149

Sint-Gillis (bij-Brussel) · Eq €5,275

Antwerpen · Eq €5,282

Of 82,632 companies in sector 70200 we hold annual accounts for 52,587. 16,079 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector

Identification & contact

Identification

Legal formPrivate limited company

Founded30-09-2019

Fiscal year end31-12

Activities, NACEBEL 2025

70200Business and other management consultancy

Scores and ratios are computed by Checked and are not a credit decision.