MASTECHAR
ActiveSummary
MASTECHAR has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €4.00M and a net result of €657k. Equity is growing by ~11.9% per year across the filed fiscal years. Its solvency ranks better than 73% of 8692 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability85▼-1
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €360k at 30 days acceptable
Liquidity ample (current ratio 2.94 against 4.96 in 2024; short-term debt: 22.4% and cash: 33.6% of total assets), and 22.4% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · 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 →
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
77.6%
Return on assets
12.7%
Age of the figures
9 mo
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
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 15-07-2026, 16 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
16 d early
2024
29 d late
2023
15 d early
2022
38 d early
2021
17 d early
2020
22 d early
2019
37 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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€4.00M▼ 6.5%
2024 · €4.28M
2018: €1.82Mlowest in 8 years
2019: €2.14M▲ +17.8% vs 2018
2020: €2.84M▲ +32.9% vs 2019
2021: €3.23M▲ +13.8% vs 2020
2022: €3.66M▲ +13.3% vs 2021
2023: €4.16M▲ +13.5% vs 2022
2024: €4.28M▲ +3.0% vs 2023highest in 8 years
2025: €4.00M▼ -6.5% vs 2024
2018 → 2025
Total assets
€5.16M▲ 2.3%
2024 · €5.05M
2018: €2.01Mlowest in 8 years
2019: €2.50M▲ +24.8% vs 2018
2020: €3.13M▲ +25.2% vs 2019
2021: €3.69M▲ +17.8% vs 2020
2022: €4.40M▲ +19.3% vs 2021
2023: €4.48M▲ +1.7% vs 2022
2024: €5.05M▲ +12.7% vs 2023
2025: €5.16M▲ +2.3% vs 2024highest in 8 years
2018 → 2025
Net result
€657k▼ 7.0%
2024 · €707k
2018: €439klowest in 8 years
2019: €582k▲ +32.7% vs 2018
2020: €934k▲ +60.3% vs 2019highest in 8 years
2021: €795k▼ -14.9% vs 2020
2022: €897k▲ +12.9% vs 2021
2023: €933k▲ +4.1% vs 2022
2024: €707k▼ -24.3% vs 2023
2025: €657k▼ -7.0% vs 2024
2018 → 2025
Working capital
€2.25M▼ 25.6%
2024 · €3.03M
2018: €997klowest in 8 years
2019: €1.59M▲ +59.2% vs 2018
2020: €2.40M▲ +50.9% vs 2019
2021: €2.31M▼ -3.6% vs 2020
2022: €2.51M▲ +8.6% vs 2021
2023: €2.89M▲ +15.2% vs 2022
2024: €3.03M▲ +4.8% vs 2023highest in 8 years
2025: €2.25M▼ -25.6% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€3.23M-€3.66M▲ 13.3%€4.16M▲ 13.5%€4.28M▲ 3.0%€4.00M▼ 6.5%
2021: €3.23Mlowest in 5 years
2022: €3.66M▲ +13.3% vs 2021
2023: €4.16M▲ +13.5% vs 2022
2024: €4.28M▲ +3.0% vs 2023highest in 5 years
2025: €4.00M▼ -6.5% vs 2024
Operating result€1.11M-€1.47M▲ 32.9%€1.13M▼ 23.3%€1.01M▼ 10.7%€923k▼ 8.3%
2021: €1.11M
2022: €1.47M▲ +32.9% vs 2021highest in 5 years
2023: €1.13M▼ -23.3% vs 2022
2024: €1.01M▼ -10.7% vs 2023
2025: €923k▼ -8.3% vs 2024lowest in 5 years
Net result€795k-€897k▲ 12.9%€933k▲ 4.1%€707k▼ 24.3%€657k▼ 7.0%
2021: €795k
2022: €897k▲ +12.9% vs 2021
2023: €933k▲ +4.1% vs 2022highest in 5 years
2024: €707k▼ -24.3% vs 2023
2025: €657k▼ -7.0% vs 2024lowest in 5 years
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2025 is 8% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5.16M
Fixed assets
€1.75M ▲ 39.9%
Current assets
€3.41M ▼ 10.1%
Equity and liabilities €5.16M
Equity
€4.00M ▼ 6.5%
Debt
€1.16M ▲ 51.3%
Debt's share of the balance-sheet total rises from 15.2% to 22.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€968k▼
2024 · €1.05M
Cash flow
€702k▼
2024 · €750k
Current ratio
2.94▼
2024 · 4.96
Debt to equity
0.29▲
2024 · 0.18
ROE
16.4%▼
2024 · 16.5%
ROA
12.7%▼
2024 · 14.0%
Interest coverage
13.18▼
2024 · 21.34
Debt ≤ 1 year
€1.16M▲
2024 · €766k
Income taxes
€346k▼
2024 · €362k
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 · 49 lines
Balance sheet
Code20242025
Assets
Total assets20/58€5.05M€5.16M▲
Fixed assets21/28€1.25M€1.75M▲
Tangible fixed assets22/27€1.25M€1.75M▲
Land and buildings22€1.16M€1.69M▲
Furniture and vehicles24€89k€62k▼
Current assets29/58€3.79M€3.41M▼
Amounts receivable within one year40/41-€483k
Trade receivables40-€209k
Other amounts receivable41-€275k
Current investments50/53€3.04M€1.19M▼
Cash at bank and in hand54/58€745k€1.73M▲
Deferred charges and accrued income490/1€5k€4k▼
Equity and liabilities
Total equity and liabilities10/49€5.05M€5.16M▲
Equity10/15€4.28M€4.00M▼
Contributions10/11€12k€12k=
Reserves13€4.27M€3.99M▼
Distributable reserves133€4.27M€3.99M▼
Profit (loss) carried forward14€0€0=
Amounts payable17/49€766k€1.16M▲
Amounts payable within one year42/48€766k€1.16M▲
Financial debts43-€0
Credit institutions430/8-€0
Trade debts44€19k€108k▲
Suppliers440/4€19k€108k▲
Taxes, remuneration and social security45€164k€117k▼
Taxes450/3€164k€113k▼
Remuneration and social security454/9-€4k
Other amounts payable47/48€583k€934k▲
Income statement
Code20242025
Non-recurring operating income76A€0-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€44k€46k▲
Other operating charges640/8€3k€3k▼
Gross operating margin9900€1.05M€971k▼
Operating profit (loss)9901€1.01M€923k▼
Financial income75/76B€111k€154k▲
Recurring financial income75€111k€154k▲
Financial charges65/66B€49k€73k▲
Recurring financial charges65€49k€73k▲
Profit (loss) for the period before taxes9903€1.07M€1.00M▼
Income taxes67/77€362k€346k▼
Profit (loss) for the period9904€707k€657k▼
Profit (loss) for the period to be appropriated9905€707k€657k▼
Appropriation of the result
Profit (loss) to be appropriated9906€708k€657k▼
Profit (loss) brought forward from the previous period14P€2k€0▼
Transfer from equity791/2€582k€934k▲
Transfer to equity691/2€708k€657k▼
To other reserves6921€708k€657k▼
Profit to be distributed694/7€582k€934k▲
Return on contributions (dividend)694€582k€934k▲
Social balance
Average headcount (FTE)90870.00.0=
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €75k | €118k | €18k | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €76k | €81k | €36k | €44k | €46k | ▲ 4.0% |
| Other operating charges640/8 | €4k | €5k | €2k | €3k | €3k | ▼ 16.2% |
| Gross operating margin9900 | €1.19M | €1.55M | €1.16M | €1.05M | €971k | ▼ 7.8% |
| Operating profit (loss)9901 | €1.11M | €1.47M | €1.13M | €1.01M | €923k | ▼ 8.3% |
| Financial income75/76B | €26k | €27k | €116k | €111k | €154k | ▲ 38.6% |
| Recurring financial income75 | €26k | €27k | €116k | €111k | €154k | ▲ 38.6% |
| Financial charges65/66B | €-22k | €136k | €-98k | €49k | €73k | ▲ 49.3% |
| Recurring financial charges65 | €-22k | €136k | €-98k | €49k | €73k | ▲ 49.3% |
| Profit (loss) for the period before taxes9903 | €1.15M | €1.36M | €1.34M | €1.07M | €1.00M | ▼ 6.1% |
| Income taxes67/77 | €359k | €463k | €408k | €362k | €346k | ▼ 4.3% |
| Profit (loss) for the period9904 | €795k | €897k | €933k | €707k | €657k | ▼ 7.0% |
| Profit (loss) for the period to be appropriated9905 | €795k | €897k | €933k | €707k | €657k | ▼ 7.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.69M | €4.40M | €4.48M | €5.05M | €5.16M | ▲ 2.3% |
| Fixed assets21/28 | €923k | €1.15M | €1.27M | €1.25M | €1.75M | ▲ 39.9% |
| Tangible fixed assets22/27 | €923k | €1.15M | €1.27M | €1.25M | €1.75M | ▲ 39.9% |
| Land and buildings22 | €916k | €1.15M | €1.15M | €1.16M | €1.69M | ▲ 45.3% |
| Furniture and vehicles24 | €7k | €8k | €116k | €89k | €62k | ▼ 30.2% |
| Current assets29/58 | €2.77M | €3.25M | €3.21M | €3.79M | €3.41M | ▼ 10.1% |
| Amounts receivable within one year40/41 | €71k | €14k | - | - | €483k | - |
| Trade receivables40 | €71k | - | - | - | €209k | - |
| Other amounts receivable41 | - | €14k | - | - | €275k | - |
| Current investments50/53 | €925k | €1.08M | €1.74M | €3.04M | €1.19M | ▼ 60.9% |
| Cash at bank and in hand54/58 | €1.77M | €2.15M | €1.47M | €745k | €1.73M | ▲ 133% |
| Deferred charges and accrued income490/1 | €4k | €207 | €5k | €5k | €4k | ▼ 20.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.69M | €4.40M | €4.48M | €5.05M | €5.16M | ▲ 2.3% |
| Equity10/15 | €3.23M | €3.66M | €4.16M | €4.28M | €4.00M | ▼ 6.5% |
| Contributions10/11 | €12k | €12k | €12k | €12k | €12k | = |
| Reserves13 | €3.22M | €3.65M | €4.14M | €4.27M | €3.99M | ▼ 6.5% |
| Non-distributable reserves130/1 | €2k | €2k | - | - | - | - |
| Reserves not available under the articles1311 | €2k | €2k | - | - | - | - |
| Distributable reserves133 | €3.22M | €3.65M | €4.14M | €4.27M | €3.99M | ▼ 6.5% |
| Profit (loss) carried forward14 | €2k | €2k | €2k | €0 | €0 | - |
| Amounts payable17/49 | €457k | €741k | €321k | €766k | €1.16M | ▲ 51.3% |
| Amounts payable within one year42/48 | €457k | €741k | €321k | €766k | €1.16M | ▲ 51.3% |
| Financial debts43 | - | - | - | - | €0 | - |
| Credit institutions430/8 | - | - | - | - | €0 | - |
| Trade debts44 | €37k | €81k | €5k | €19k | €108k | ▲ 467% |
| Suppliers440/4 | €37k | €81k | €5k | €19k | €108k | ▲ 467% |
| Taxes, remuneration and social security45 | €97k | €191k | €276k | €164k | €117k | ▼ 28.7% |
| Taxes450/3 | €97k | €191k | €276k | €164k | €113k | ▼ 31.0% |
| Remuneration and social security454/9 | - | - | - | - | €4k | - |
| Other amounts payable47/48 | €323k | €469k | €39k | €583k | €934k | ▲ 60.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €795k | €897k | €933k | €707k | €657k | ▼ 7.0% |
| + Depreciation and write-downs630 | €76k | €81k | €36k | €44k | €46k | ▲ 4.0% |
| Operating cash flow (approximation) | €870k | €978k | €969k | €750k | €702k | ▼ 6.4% |
| Investment in fixed assets (approximation) | - | €-312k | €-148k | €-30k | €-545k | ▼ 1,744% |
| Change in cash | - | €386k | €-685k | €-722k | €988k | ▲ 237% |
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
15-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 29 days late
2024
16-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Liquidity doublescurrent ratio 10.02
Current ratio from 4.39 to 10.02; short-term debt falls from €741k to €321k.
23-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
14-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
09-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Highest result since 2018net €934k ▲60.3%
Net result €934k, the highest in the series.
24-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Equity above €2MEq €2.14M ▲17.8%
2 profitable years in a row build equity to €2.14M.
19-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
08-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
21-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Zoersel · 1 establishment unit since 2011
Ground area
1,592 m²
Building footprint
282 m²
Volume, LiDAR
1,710 m³
Parcel 11055C0280/00P003, Flanders · tallest building 9.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Ten Hoflaan 16, 2980 Zoersel
since 20112.203.338.568
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11055C0280/00P003 | Flanders | 1,592 m² | 1 · 282 m² | 9.9 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.
Recognitions · licences · registrations
Legal Entity Identifier
8945005L8N0NDXTBOY62
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Of 82,632 companies in sector 70200 we hold annual accounts for 52,575. 13,141 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
Founded22-09-2011
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.