MASTECH
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 13-10-2025 PDF all 2 filings
Every figure per financial year
The operating result for 2025 is a loss of €752, after a profit of €28,159 in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Investments
| Item | 31-03-2024 | 31-03-2025 |
|---|---|---|
| Tangible fixed assets | €4,599 | €2,454 |
| Depreciation and write-downs of the year | €259 | €1,431 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Non-recurring operating income76A | €547 | €954 | ▲ 74.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €259 | €1,431 | ▲ 453% |
| Other operating charges640/8 | €1,239 | €693 | ▼ 44.0% |
| Gross operating margin9900 | €29,656 | €1,372 | ▼ 95.4% |
| Operating profit (loss)9901 | €28,159 | -€752 | - |
| Financial income75/76B | €721 | €1,043 | ▲ 44.7% |
| Recurring financial income75 | €721 | €1,043 | ▲ 44.7% |
| Financial charges65/66B | €457 | €296 | ▼ 35.3% |
| Recurring financial charges65 | €457 | €296 | ▼ 35.3% |
| Profit (loss) for the period before taxes9903 | €28,423 | -€5 | - |
| Income taxes67/77 | €6,152 | €609 | ▼ 90.1% |
| Profit (loss) for the period9904 | €22,271 | -€613 | - |
| Profit (loss) for the period to be appropriated9905 | €22,271 | -€613 | - |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €37,885 | €35,107 | ▼ 7.3% |
| Fixed assets21/28 | €4,340 | €5,363 | ▲ 23.6% |
| Tangible fixed assets22/27 | €4,340 | €5,363 | ▲ 23.6% |
| Plant, machinery and equipment23 | €4,340 | €3,420 | ▼ 21.2% |
| Furniture and vehicles24 | - | €1,943 | - |
| Current assets29/58 | €33,545 | €29,744 | ▼ 11.3% |
| Amounts receivable within one year40/41 | €29,984 | €25,088 | ▼ 16.3% |
| Trade receivables40 | €13,428 | €6,465 | ▼ 51.9% |
| Other amounts receivable41 | €16,556 | €18,623 | ▲ 12.5% |
| Cash at bank and in hand54/58 | €3,298 | €4,393 | ▲ 33.2% |
| Deferred charges and accrued income490/1 | €262 | €263 | ▲ 0.5% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €37,885 | €35,107 | ▼ 7.3% |
| Equity10/15 | €24,271 | €23,658 | ▼ 2.5% |
| Contributions10/11 | €2,000 | €2,000 | = |
| Reserves13 | €22,271 | €21,658 | ▼ 2.8% |
| Distributable reserves133 | €22,271 | €21,658 | ▼ 2.8% |
| Amounts payable17/49 | €13,613 | €11,449 | ▼ 15.9% |
| Amounts payable within one year42/48 | €13,550 | €11,383 | ▼ 16.0% |
| Trade debts44 | €3,101 | €3,103 | ▲ 0.1% |
| Suppliers440/4 | €3,101 | €3,103 | ▲ 0.1% |
| Taxes, remuneration and social security45 | €10,448 | €8,280 | ▼ 20.7% |
| Taxes450/3 | €8,948 | €6,780 | ▼ 24.2% |
| Remuneration and social security454/9 | €1,500 | €1,500 | = |
| Accrued charges and deferred income492/3 | €64 | €66 | ▲ 3.0% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | €22,271 | -€613 | - |
| + Depreciation and write-downs630 | €259 | €1,431 | ▲ 453% |
| Operating cash flow (approximation) | €22,530 | €818 | ▼ 96.4% |
| Investment in fixed assets (approximation) | - | -€2,454 | - |
| Change in cash | - | €1,094 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 2,145 companies had the same profile as MASTECH has now. Two years later, 91.7% were still going and 2.2% had gone bankrupt.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a small loss
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MASTECH itself: 1.6% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 2,145 companies, not a prediction for MASTECH. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.