Summary
MASLO is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €95,743 and a net result of €27,597. Equity is growing by ~10.2% per year across the filed fiscal years. Its solvency ranks better than 80% of 1495 sector peers (fiscal year 2025). The company has been active since 1987 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
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 03-07-2026, 28 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
28 d early
2024
on the day
2023
30 d late
2022
30 d late
2021
38 d late
2020
31 d late
2019
105 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 29 days after the deadline; the sector median for financial year 2024 is 5 days before the deadline, and 38% of the sector filed late.
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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#5 oldest company in Roeselare, Finance and insurance sector
Equity
€95,743▲ 40.5%
2024 · €68,145
Net result
€27,597
2024 · -€6,496
Total assets
€125,499▼ 36.9%
2024 · €198,820
Solvency
76.3%▲ 42.0pp
2024 · 34.3%
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 66, Activities auxiliary to financial services and insurance activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€5,391▼ 68.2%€23,293▲ 332%€33,687▲ 44.6%-€1,976€24,778
Net result€1,098below the sector's middle half▼ 89.4%€14,899within the sector's middle half▲ 1,257%€21,762within the sector's middle half▲ 46.1%-€6,496below the sector's middle half€27,597within the sector's middle half
Equity€60,542below the sector's middle half▲ 1.8%€74,641below the sector's middle half▲ 23.3%€74,641within the sector's middle half=€68,145within the sector's middle half▼ 8.7%€95,743within the sector's middle half▲ 40.5%
Total assets€244,814below the sector's middle half▼ 8.9%€226,159below the sector's middle half▼ 7.6%€230,860within the sector's middle half▲ 2.1%€198,820within the sector's middle half▼ 13.9%€125,499below the sector's middle half▼ 36.9%
Debt€184,272▼ 12.0%€151,518▼ 17.8%€156,219▲ 3.1%€130,675▼ 16.4%€29,757▼ 77.2%
Working capital€49,378▼ 11.5%€47,140▼ 4.5%€38,209▼ 18.9%-€496€86,530
Solvency24.7%within the sector's middle half▲ 2.6pp33.0%within the sector's middle half▲ 8.3pp32.3%within the sector's middle half▼ 0.7pp34.3%within the sector's middle half▲ 1.9pp76.3%above the sector's middle half▲ 42.0pp
Staff (FTE)0below the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 66, Activities auxiliary to financial services and insurance activities, each year against the same schema; no band under 30 filings.
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: €24,778 after a loss of €1,976 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €125,499
Fixed assets
€9,213 ▼ 92.5%
Current assets
€116,286 ▲ 52.9%
Equity and liabilities €125,499
Equity
€95,743 ▲ 40.5%
Debt
€29,757 ▼ 77.2%
Debt's share of the balance-sheet total falls from 65.7% to 23.7%. Equity is higher and debt is lower.
Key figures and ratios
ROE
28.8%▲
2024 · -9.5%
ROA
22.0%▲
2024 · -3.3%
Debt ≤ 1 year
€29,757▼
2024 · €76,560
Debt > 1 year
€0▼
2024 · €54,115
Income taxes
€10,240▲
2024 · €3,445
Staff costs
€0▼
2024 · €90
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €6,958 | - |
| Remuneration, social security and pensions62 | - | - | €460 | €90 | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €31,360 | €24,874 | €24,056 | €25,184 | €1,729 | ▼ 93.1% |
| Other operating charges640/8 | €1,865 | €1,962 | €1,743 | €2,196 | €2,627 | ▲ 19.6% |
| Gross operating margin9900 | €38,616 | €50,128 | €59,946 | €25,495 | €29,135 | ▲ 14.3% |
| Operating profit (loss)9901 | €5,391 | €23,293 | €33,687 | -€1,976 | €24,778 | ▲ 1,354% |
| Financial income75/76B | €302 | €6 | €59 | - | €14,265 | - |
| Recurring financial income75 | €302 | €6 | €59 | - | €750 | - |
| Non-recurring financial income76B | - | - | - | - | €13,515 | - |
| Financial charges65/66B | €2,489 | €1,943 | €1,731 | €1,075 | €1,206 | ▲ 12.2% |
| Recurring financial charges65 | €2,489 | €1,943 | €1,731 | €1,075 | €1,206 | ▲ 12.2% |
| Profit (loss) for the period before taxes9903 | €3,203 | €21,356 | €32,014 | -€3,051 | €37,837 | ▲ 1,340% |
| Income taxes67/77 | €2,105 | €6,456 | €10,252 | €3,445 | €10,240 | ▲ 197% |
| Profit (loss) for the period9904 | €1,098 | €14,899 | €21,762 | -€6,496 | €27,597 | ▲ 525% |
| Profit (loss) for the period to be appropriated9905 | €1,098 | €14,899 | €21,762 | -€6,496 | €27,597 | ▲ 525% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €244,814 | €226,159 | €230,860 | €198,820 | €125,499 | ▼ 36.9% |
| Fixed assets21/28 | €137,335 | €119,854 | €106,321 | €122,756 | €9,213 | ▼ 92.5% |
| Intangible fixed assets21 | €2,314 | €1,404 | €493 | - | - | - |
| Tangible fixed assets22/27 | €134,199 | €117,629 | €105,007 | €121,935 | €9,213 | ▼ 92.4% |
| Land and buildings22 | €54,254 | €43,446 | €32,638 | €21,830 | €0 | ▼ 100% |
| Plant, machinery and equipment23 | €69,179 | €65,775 | €61,337 | €86,368 | €0 | ▼ 100% |
| Furniture and vehicles24 | €10,766 | €8,408 | €11,032 | €13,738 | €9,213 | ▼ 32.9% |
| Financial fixed assets28 | €821 | €821 | €821 | €821 | €0 | ▼ 100% |
| Current assets29/58 | €107,479 | €106,305 | €124,539 | €76,064 | €116,286 | ▲ 52.9% |
| Amounts receivable after more than one year29 | €18,711 | - | - | - | - | - |
| Other amounts receivable291 | €18,711 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €42,893 | €41,632 | €42,318 | €29,643 | €43,224 | ▲ 45.8% |
| Trade receivables40 | €36,971 | €41,632 | €42,318 | €29,643 | €43,224 | ▲ 45.8% |
| Other amounts receivable41 | €5,922 | - | - | - | - | - |
| Cash at bank and in hand54/58 | €39,176 | €30,684 | €38,257 | €20,639 | €70,940 | ▲ 244% |
| Deferred charges and accrued income490/1 | €6,699 | €33,990 | €43,964 | €25,782 | €2,123 | ▼ 91.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €244,814 | €226,159 | €230,860 | €198,820 | €125,499 | ▼ 36.9% |
| Equity10/15 | €60,542 | €74,641 | €74,641 | €68,145 | €95,743 | ▲ 40.5% |
| Contributions10/11 | €22,184 | €22,184 | €22,184 | €22,184 | €22,184 | = |
| Reserves13 | €33,668 | €33,668 | €33,668 | €33,668 | €73,558 | ▲ 118% |
| Non-distributable reserves130/1 | €3,718 | €3,718 | €3,718 | - | - | - |
| Reserves not available under the articles1311 | €3,718 | €3,718 | €3,718 | - | - | - |
| Tax-exempt reserves132 | €29,950 | €29,950 | €29,950 | €29,950 | €29,950 | = |
| Distributable reserves133 | - | - | - | €3,718 | €43,608 | ▲ 1,073% |
| Profit (loss) carried forward14 | €4,689 | €18,789 | €18,789 | €12,293 | €0 | ▼ 100% |
| Amounts payable17/49 | €184,272 | €151,518 | €156,219 | €130,675 | €29,757 | ▼ 77.2% |
| Amounts payable after more than one year17 | €110,672 | €87,353 | €69,889 | €54,115 | €0 | ▼ 100% |
| Financial debts170/4 | €110,672 | €87,353 | €69,889 | €54,115 | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €58,102 | €59,165 | €86,330 | €76,560 | €29,757 | ▼ 61.1% |
| Current portion of amounts payable after more than one year42 | €23,958 | €23,319 | €17,464 | €15,645 | €0 | ▼ 100% |
| Trade debts44 | €5,426 | €5,280 | €5,152 | €272 | €13,755 | ▲ 4,948% |
| Suppliers440/4 | €5,426 | €5,280 | €5,152 | €272 | €13,755 | ▲ 4,948% |
| Advances received on contracts in progress46 | - | - | - | - | €7,212 | - |
| Taxes, remuneration and social security45 | €2,105 | €11,046 | €21,130 | €7,795 | €8,790 | ▲ 12.8% |
| Taxes450/3 | €2,105 | €11,046 | €21,130 | €7,795 | €8,790 | ▲ 12.8% |
| Other amounts payable47/48 | €26,613 | €19,519 | €42,583 | €52,848 | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | €15,499 | €5,000 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,098 | €14,899 | €21,762 | -€6,496 | €27,597 | ▲ 525% |
| + Depreciation and write-downs630 | €31,360 | €24,874 | €24,056 | €25,184 | €1,729 | ▼ 93.1% |
| Operating cash flow (approximation) | €32,458 | €39,773 | €45,818 | €18,688 | €29,326 | ▲ 56.9% |
| Investment in fixed assets (approximation) | - | -€7,393 | -€10,523 | -€41,620 | €111,814 | ▲ 369% |
| Change in cash | - | -€8,492 | €7,573 | -€17,618 | €50,301 | ▲ 386% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
03-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Back to profitnet €27,597
Net result €27,597 after one loss-making year.
31-12
Financial
Liquidity quadruplescurrent ratio 3.91
Current ratio from 0.99 to 3.91; short-term debt falls from €76,560 to €29,757.
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet -€6,496
Net result drops to -€6,496, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 30 days late
2022
07-09
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 38 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 31 days late
2020
13-11
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 105 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 30 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 31 days late
2017
16-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 16 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 9 acts read
About the unread acts
We know of 9 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
9 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, Roeselare · 1 establishment unit since 1987
Ground area
420 m²
Building footprint
180 m²
Volume, LiDAR
1,287 m³
Parcel 36502B0277/00C000, Flanders · tallest building 12.7 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
MADESCO B.V.B.A.
since 19872.033.773.561
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36502B0277/00C000 | Flanders | 420 m² | 1 · 179 m² | 12.7 m · 3 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.
Structure & network
Part of the group
ICC TopCo
27 companies
Group, risk and exposure
Owners and holdings
1 ownerChain of control
- Helix
- Group induver
- MASLO
Highest known parent: Helix. The sources do not say who stands above it.
Owners 1
- Group induverparent100%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2023 to 2024 · 2 entries · 50 EUR awarded · 109 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 50 EUR | 50 EUR |
| 2023 | 1 | 0 EUR | 59 EUR |
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Of 4,673 companies in sector 66220 we hold annual accounts for 3,220. 2,683 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
Founded04-02-1987
Fiscal year end31-12
Activities, NACEBEL 2025
66220Insurance agents and brokers
E-invoicing
Reachable via Peppol
Peppol ID
0208:0430383753
Also
9925:BE0430383753
Registered
22-06-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.