MASTEEL
ActiveSummary
MASTEEL has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €331k and a net result of €324k. Equity is growing by ~86% per year across the filed fiscal years. Its solvency ranks better than 46% of 8001 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
66
/ 100
Healthy
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100▲+14
Solvency66▼-18
Growth78=
Track record94
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €21k at 30 days acceptable
Liquidity ample (current ratio 1.71 against 2.47 in 2024; short-term debt: 58.6% and cash: 15.4% of total assets), but 59.5% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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
40.5%
Return on assets
39.6%
Age of the figures
13 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
neutral · Latest accounts filed on time
The financial year that closed on 31-08-2025 was due by 31-03-2026 and was filed on 11-02-2026, 48 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
48 d early
2024
32 d early
2023
41 d early
2022
44 d early
2021
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 31-08-2026 and is due by 31-03-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-08-2026 close24-09-2026 today31-03-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€331k▼ 70.1%
2024 · €1.11M
2021: €19k
2022: €403k
2023: €743k
2024: €1.11M
2021 → 2025
Total assets
€817k▼ 56.4%
2024 · €1.88M
2021: €222k
2022: €2.21M
2023: €1.09M
2024: €1.88M
2021 → 2025
Net result
€324k▼ 11.1%
2024 · €364k
2021: €15k
2022: €384k
2023: €341k
2024: €364k
2021 → 2025
Working capital
€338k▼ 69.7%
2024 · €1.12M
2021: €19k
2022: €414k
2023: €769k
2024: €1.12M
2021 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€19k-€403k▲ 2,038%€743k▲ 84.6%€1.11M▲ 49.0%€331k▼ 70.1%
Operating result€20k-€512k▲ 2,454%€425k▼ 17.0%€466k▲ 9.7%€394k▼ 15.4%
Net result€15k-€384k▲ 2,505%€341k▼ 11.3%€364k▲ 6.9%€324k▼ 11.1%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 15% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €817k
Equity
€331k ▼ 70.1%
Debt
€486k ▼ 36.7%
Debt's share of the balance-sheet total rises from 40.9% to 59.5%. Equity and debt are lower.
Key figures and ratios
Current ratio
1.71▼
2024 · 2.47
Quick ratio
1.51▼
2024 · 2.22
Debt to equity
1.47▲
2024 · 0.69
ROE
97.7%▲
2024 · 32.9%
ROA
39.6%▲
2024 · 19.4%
Debt ≤ 1 year
€479k▼
2024 · €758k
Income taxes
€108k▼
2024 · €121k
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 · 39 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.88M€817k▼
Current assets29/58€1.88M€817k▼
Amounts receivable after more than one year29€1.19M€0▼
Trade receivables290€1.19M€0▼
Stocks and contracts in progress3€189k€95k▼
Stocks30/36€189k€95k▼
Amounts receivable within one year40/41€224k€594k▲
Trade receivables40€220k€144k▼
Other amounts receivable41€5k€450k▲
Cash at bank and in hand54/58€271k€126k▼
Deferred charges and accrued income490/1€1k€2k▲
Equity and liabilities
Total equity and liabilities10/49€1.88M€817k▼
Equity10/15€1.11M€331k▼
Contributions10/11€4k€4k=
Profit (loss) carried forward14€1.10M€327k▼
Amounts payable17/49€768k€486k▼
Amounts payable within one year42/48€758k€479k▼
Trade debts44€549k€431k▼
Suppliers440/4€549k€431k▼
Advances received on contracts in progress46€208k€39k▼
Taxes, remuneration and social security45€1k€8k▲
Taxes450/3€1k€8k▲
Accrued charges and deferred income492/3€10k€7k▼
Income statement
Code20242025
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€0-
Other operating charges640/8€118€1k▲
Gross operating margin9900€466k€395k▼
Operating profit (loss)9901€466k€394k▼
Financial income75/76B€37k€54k▲
Recurring financial income75€37k€54k▲
Financial charges65/66B€17k€17k▼
Recurring financial charges65€17k€17k▼
Profit (loss) for the period before taxes9903€485k€432k▼
Income taxes67/77€121k€108k▼
Profit (loss) for the period9904€364k€324k▼
Profit (loss) for the period to be appropriated9905€364k€324k▼
Appropriation of the result
Profit (loss) to be appropriated9906€1.10M€1.43M▲
Profit (loss) brought forward from the previous period14P€739k€1.10M▲
Profit to be distributed694/7-€1.10M
Return on contributions (dividend)694-€1.10M
The notes to these accounts (1 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
11-02
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
27-02
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-08
Financial
Equity above €1MEq €1.11M ▲49%
4 profitable years in a row build equity to €1.11M.
19-02
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-08
Financial
Liquidity triplescurrent ratio 3.40
Current ratio from 1.23 to 3.40; short-term debt falls from €1.79M to €321k.
31-08
Financial
Equity above €500kEq €743k ▲84.6%
3 profitable years in a row build equity to €743k.
15-02
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-08
Financial
Highest result since 2021net €384k ▲2505%
Operating result €512k, net result €384k, both a record.
31-08
Financial
Equity above €200kEq €403k ▲2038%
2 profitable years in a row build equity to €403k.
22-02
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 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, Aartselaar · 1 establishment unit since 2021
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Boomsesteenweg 77C2630 AartselaarGround area
1.6 ha
Building footprint
1,860 m²
Volume, LiDAR
12,979 m³
Parcel 11001B0411/00A000, Flanders · tallest building 9.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MASTEEL
since 20212.316.004.464
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11001B0411/00A000 | Flanders | 1.6 ha | 1 · 1,860 m² | 9.9 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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
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La Tomaterie
BE 0543.648.673
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BE 0642.769.015
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Of 6,155 companies in sector 46190 we hold annual accounts for 2,570. 1,704 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded08-04-2021
Fiscal year end31-08
Activities, NACEBEL 2025
46190Agents in non-specialised wholesale trade
46120Wholesale trade
46499Wholesale of other household goods
46872Wholesale trade
Sources
Crossroads Bank for EnterprisesNational Bank · 5 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.