MASSED
Annual accounts 2026
micro format, filed on 27-10-2026, 4 days before the deadlineTurnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €43,000. Estimated: probably between €21,000 and €86,000.
Balance sheet
balance sheet total €1.1m on 31-03-2026in €m
in euro
Position in the sector
97.1%
Higher than 94% of 39,364 companies in 2025.
7.89
Higher than 78% of 38,048 companies in 2025.
0.5%
Higher than 19% of 38,520 companies in 2025.
Staff
Staff costs divided by the average number of full-time equivalents.
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||||
20/58 |
1.1m | 1.1m | 1.2m | 1.3m | 2.6m | 979,764 | 951,597 | 956,144 | 1.1m | 983,483 | 987,516 | 985,656 | 984,470 | 1.1m | 801,427 | |
21/28 |
858,082 | 858,082 | 858,082 | 858,082 | 2.3m | 942,150 | 939,000 | 939,000 | 939,000 | 939,000 | 939,000 | 939,000 | 945,190 | 1.1m | 799,000 | |
22/27 |
59,082 | 59,082 | 59,082 | 59,082 | 1.5m | 143,150 | 140,000 | 140,000 | 140,000 | 140,000 | 140,000 | 140,000 | 146,190 | 309,375 | - | |
22 |
- | - | - | 0 | 402,990 | 143,150 | - | - | - | - | - | - | - | - | - | |
24 |
- | - | - | - | - | - | - | - | - | - | - | - | 6,190 | 9,375 | - | |
25 |
59,082 | 59,082 | 59,082 | 59,082 | - | - | - | - | - | - | - | - | - | - | - | |
26 |
- | - | - | - | - | - | 140,000 | 140,000 | 140,000 | 140,000 | 140,000 | 140,000 | 140,000 | 300,000 | - | |
27 |
- | - | - | 0 | 1.1m | - | - | - | - | - | - | - | - | - | - | |
28 |
799,000 | 799,000 | 799,000 | 799,000 | 804,000 | 799,000 | 799,000 | 799,000 | 799,000 | 799,000 | 799,000 | 799,000 | 799,000 | 799,000 | 799,000 | |
29/58 |
238,353 | 257,848 | 301,259 | 403,707 | 312,512 | 37,614 | 12,597 | 17,144 | 205,845 | 44,483 | 48,516 | 46,656 | 39,279 | 34,755 | 2,427 | |
40/41 |
200,567 | 236,768 | 288,902 | 399,964 | 253,033 | 16,858 | 7,876 | - | 201,198 | 41,478 | 42,718 | 42,713 | 38,481 | 11,056 | - | |
40 |
181,990 | 144,658 | 144,452 | 160,252 | 7,260 | 7,260 | 7,260 | - | 201,172 | 41,452 | 41,452 | 41,452 | 32,455 | 307 | - | |
41 |
18,577 | 92,110 | 144,449 | 239,712 | 245,773 | 9,598 | 616 | - | 26 | 26 | 1,267 | 1,261 | 6,027 | 10,749 | - | |
54/58 |
37,700 | 20,943 | 12,221 | 3,743 | 59,479 | 20,756 | 4,721 | 17,144 | 4,647 | 3,006 | 5,797 | 3,943 | 798 | 16,108 | 2,427 | |
490/1 |
87 | 136 | 136 | - | - | - | - | - | - | - | - | - | - | 7,591 | - | |
| Balance sheet: equity and liabilities | ||||||||||||||||
10/49 |
1.1m | 1.1m | 1.2m | 1.3m | 2.6m | 979,764 | 951,597 | 956,144 | 1.1m | 983,483 | 987,516 | 985,656 | 984,470 | 1.1m | 801,427 | |
10/15 |
1.1m | 1.1m | 1.1m | 1.1m | 1.0m | 906,894 | 856,789 | 797,632 | 709,672 | 592,596 | 558,483 | 515,625 | 477,056 | 455,427 | 319,614 | |
10/11 |
100,000 | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | |
100 |
- | - | - | - | - | - | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | |
13 |
964,303 | 959,049 | 957,466 | 952,578 | 935,958 | 806,894 | 756,789 | 697,632 | 609,672 | 492,596 | 458,483 | 415,625 | 377,056 | 355,427 | 210,000 | |
130/1 |
10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | - | - | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | |
1311 |
10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | - | - | - | - | - | - | - | - | - | |
133 |
954,303 | 949,049 | 947,466 | 942,578 | 925,958 | 796,894 | 746,789 | 687,632 | 599,672 | 482,596 | 448,483 | 405,625 | 367,056 | 345,427 | 200,000 | |
14 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 9,614 | |
17/49 |
32,132 | 56,881 | 101,875 | 209,211 | 1.6m | 72,870 | 94,808 | 158,512 | 435,173 | 390,887 | 429,033 | 470,031 | 507,414 | 687,702 | 481,813 | |
17 |
- | - | - | 0 | 917,355 | - | - | - | 60,708 | 119,825 | 177,391 | 233,448 | 305,993 | 391,659 | 254,375 | |
170/4 |
- | - | - | 0 | 917,355 | - | - | - | 60,708 | 119,825 | 177,391 | 233,448 | 305,993 | 391,659 | 254,375 | |
42/48 |
30,225 | 51,485 | 101,875 | 209,211 | 645,952 | 72,870 | 92,358 | 158,512 | 374,465 | 271,063 | 251,642 | 236,583 | 198,634 | 296,043 | 227,438 | |
42 |
- | - | - | - | - | - | - | 60,708 | 59,116 | 57,566 | 56,057 | 65,670 | 85,666 | 85,574 | 75,625 | |
43 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 85,000 | |
439 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 85,000 | |
44 |
28,312 | 895 | 45 | 21,483 | 111,776 | 344 | 344 | - | - | - | 4,731 | 3,074 | 7,776 | 19,269 | 118 | |
440/4 |
28,312 | 895 | 45 | 21,483 | 111,776 | 344 | 344 | - | - | - | 4,731 | 3,074 | 7,776 | 19,269 | 118 | |
45 |
1,913 | 593 | 1,833 | 30,899 | 99,657 | 2,225 | 16,697 | 22,536 | 66,143 | 13,692 | 22,644 | 39,222 | 19,507 | 38,808 | 1,234 | |
450/3 |
1,913 | 593 | 1,833 | 30,899 | 99,657 | 2,225 | 16,697 | 22,536 | 66,143 | 13,692 | 22,644 | 39,222 | 13,247 | 34,857 | 1,234 | |
454/9 |
- | - | - | - | - | - | - | - | - | - | - | - | 6,260 | 3,950 | - | |
47/48 |
0 | 49,997 | 99,997 | 156,829 | 434,519 | 70,301 | 75,317 | 75,267 | 249,205 | 199,805 | 168,210 | 128,616 | 85,685 | 152,393 | 65,461 | |
492/3 |
1,907 | 5,396 | - | - | - | - | 2,450 | - | - | - | - | - | 2,787 | - | - | |
| Income statement | ||||||||||||||||
76A |
- | 0 | 5,753 | 2,410 | 169,121 | - | - | - | - | - | - | 286 | 9,795 | - | - | |
9900 |
9,231 | 7,803 | 7,937 | 41,288 | 230,171 | 69,909 | 87,053 | 130,542 | 184,921 | 58,881 | 74,537 | 95,864 | 87,500 | 163,567 | 5,987 | |
62 |
- | - | - | - | - | - | - | - | - | - | - | 18,903 | 42,433 | 18,228 | - | |
630 |
- | - | - | 0 | 40,639 | - | - | - | - | - | - | 179 | 3,184 | 33,184 | 3,763 | |
640/8 |
144 | 141 | 1,142 | 1,034 | 5,939 | 8,864 | 1,111 | 1,108 | 1,263 | 1,141 | 1,116 | 699 | 1,552 | 736 | - | |
66A |
- | - | - | - | - | - | - | - | - | - | - | - | 56 | 1,923 | - | |
9901 |
9,086 | 7,662 | 6,795 | 40,254 | 183,593 | 61,046 | 85,942 | 129,434 | 183,658 | 57,740 | 73,421 | 76,083 | 40,332 | 111,419 | 2,225 | |
75/76B |
79 | - | 0 | 1,407 | - | - | - | - | - | - | 0 | 12 | 15 | 85,960 | 229,856 | |
75 |
79 | - | 0 | 1,407 | - | - | - | - | - | - | 0 | 12 | 15 | 85,960 | 229,856 | |
65/66B |
1,999 | 5,486 | 128 | 19,067 | 4,426 | 73 | 1,019 | 2,635 | 4,218 | 6,061 | 8,117 | 11,096 | 16,137 | 21,204 | 11,484 | |
65 |
1,999 | 5,486 | 128 | 19,067 | 4,426 | 73 | 1,019 | 2,635 | 4,218 | 6,061 | 8,117 | 11,096 | 16,137 | 21,204 | 11,484 | |
9903 |
7,167 | 2,176 | 6,667 | 22,594 | 179,167 | 60,973 | 84,924 | 126,799 | 179,440 | 51,679 | 65,304 | 65,285 | 33,950 | 174,253 | 220,597 | |
67/77 |
1,913 | 593 | 1,779 | 5,974 | 50,103 | 10,868 | 25,766 | 38,839 | 62,364 | 17,566 | 22,447 | 26,716 | 12,321 | 28,871 | 983 | |
9904 |
5,254 | 1,583 | 4,888 | 16,620 | 129,064 | 50,105 | 59,158 | 87,960 | 117,076 | 34,113 | 42,858 | 38,569 | 21,629 | 145,381 | 219,614 | |
9905 |
5,254 | 1,583 | 4,888 | 16,620 | 129,064 | 50,105 | 59,158 | 87,960 | 117,076 | 34,113 | 42,858 | 38,569 | 21,629 | 145,381 | 219,614 | |
| Appropriation of the result | ||||||||||||||||
9906 |
5,254 | 1,583 | 4,888 | 16,620 | 129,064 | 50,105 | 59,158 | 87,960 | 117,076 | 34,113 | 42,858 | 38,569 | 21,629 | 154,995 | 219,614 | |
691/2 |
5,254 | 1,583 | 4,888 | 16,620 | 129,064 | 50,105 | 59,158 | 87,960 | 117,076 | 34,113 | 42,858 | 38,569 | 21,629 | 145,427 | 210,000 | |
6920 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 10,000 | |
6921 |
5,254 | 1,583 | 4,888 | 16,620 | 129,064 | 50,105 | 59,158 | 87,960 | 117,076 | 34,113 | 42,858 | 38,569 | 21,629 | 145,427 | 200,000 | |
694/7 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 9,568 | - | |
695 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 9,568 | - | |
| Social balance sheet | ||||||||||||||||
9087 |
- | - | - | - | - | - | - | - | - | - | - | 0.4 | 0.9 | 0.2 | - | |
Hours worked1013 |
- | - | - | - | - | - | - | - | - | - | - | 608 | 1,498 | 404 | - | |
| Document | ||||||||||||||||
The notes to these accounts have 6 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2026 at the NBB, filed on 27-10-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2026 | micro format | 27-10-2026 | 2026-00569418 | |
| 31-03-2025 | micro format | 31-10-2025 | 2025-00562008 | |
| 31-03-2024 | micro format | 29-10-2024 | 2024-00523937 | |
| 31-03-2023 | micro format | 27-10-2023 | 2023-00501430 | |
| 31-03-2022 | micro format | 25-10-2022 | 2022-20481945 | |
| 31-03-2021 | micro format | 29-10-2021 | 2021-75500362 | |
| 31-03-2020 | micro format | 09-10-2020 | 2020-61000569 | |
| 31-03-2019 | micro format | 08-10-2019 | 2019-69000499 | |
| 31-03-2018 | micro format | 10-10-2018 | 2018-69200127 | |
| 31-03-2017 | micro format | 22-09-2017 | 2017-62400551 | |
| 31-03-2016 | abbreviated format | 23-09-2016 | 2016-61000446 | |
| 31-03-2015 | abbreviated format | 28-09-2015 | 2015-60900422 | |
| 31-03-2014 | abbreviated format | 24-10-2014 | 2014-65300466 | |
| 31-03-2013 | abbreviated format | 25-09-2013 | 2013-59500170 | |
| 30-06-2011 | abbreviated format | 14-12-2011 | 2011-63900062 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| - | - | - | 40,254 | 224,232 | - | - | - | - | - | - | 76,262 | 43,516 | 144,604 | 5,987 | ||
| - | - | - | 16,620 | 169,703 | - | - | - | - | - | - | 38,748 | 24,813 | 178,566 | 223,377 | ||
| 0 | 799,000 | 799,000 | 59,082 | 1.5m | 3,150 | - | - | - | - | - | -6,011 | -160,000 | 342,559 | 802,763 | ||
| 16,757 | 8,722 | 8,478 | -55,736 | 38,723 | 16,035 | -12,423 | 12,497 | 1,642 | -2,792 | 1,854 | 3,145 | -15,310 | - | - | ||
| 208,128 | 206,363 | 199,384 | 194,496 | -333,440 | -35,256 | -79,761 | -141,368 | -168,620 | -226,580 | -203,126 | -189,927 | -159,354 | -261,289 | -225,011 | ||
| 97.1% | 94.9% | 91.2% | 83.4% | 39.9% | 92.6% | 90.0% | 83.4% | 62.0% | 60.3% | 56.6% | 52.3% | 48.5% | 39.8% | 39.9% | ||
| 7.89 | 5.01 | 2.96 | 1.93 | 0.48 | 0.52 | 0.14 | 0.11 | 0.55 | 0.16 | 0.19 | 0.20 | 0.20 | 0.12 | 0.01 | ||
| 0.03 | 0.05 | 0.10 | 0.20 | 1.51 | 0.08 | 0.11 | 0.20 | 0.61 | 0.66 | 0.77 | 0.91 | 1.06 | 1.51 | 1.51 | ||
| 0.5% | 0.1% | 0.5% | 1.6% | 12.5% | 5.5% | 6.9% | 11.0% | 16.5% | 5.8% | 7.7% | 7.5% | 4.5% | 31.9% | 68.7% | ||
| 0.5% | 0.1% | 0.4% | 1.3% | 5.0% | 5.1% | 6.2% | 9.2% | 10.2% | 3.5% | 4.3% | 3.9% | 2.2% | 12.7% | 27.4% | ||
| - | - | - | 2.11 | 50.66 | - | - | - | - | - | - | - | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Investments
fixed assets acquired| Item | 31-03-2026 | 31-03-2025 | 31-03-2024 | 31-03-2023 | 31-03-2022 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | - | €59,082 | €1.5m |
| Financial fixed assets | €0 | €799,000 | €799,000 | - | €5,000 |
| - | - | - | €0 | €40,639 |
Source: notes to the 2022 to 2026 annual accounts (statement of fixed assets)
Insights on MASSED
The operating result for 2026 is 19% higher than in 2025 and the highest since 2023. It is the second rise in a row, after the fall in 2024.
Debt's share of the balance-sheet total falls from 5.1% to 2.9%. Equity is higher and debt is lower.
- 2023 Net result -87% on 2022. The 2022 profit included a one-off income of €169,121.