MASTEL
ActiveSummary
MASTEL has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €6.18M and a net result of €-173k. Equity is shrinking by ~6.6% per year across the filed fiscal years. Its solvency ranks better than 95% of 14079 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
86
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability65=
Solvency100=
Growth32=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500k at 30 days acceptable
short-term debt: 0.2% and cash: 21.6% of total assets, and 0.2% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Sector 68
lower
← fewer bankruptcies
more bankruptcies →
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
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
99.8%
Return on assets
-2.8%
Age of the figures
12 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-173k
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 08-04-2026, 22 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
22 d early
2024
61 d early
2023
28 d early
2022
45 d early
2021
46 d early
2020
79 d early
2019
27 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 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
24-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€6.18M▼ 2.7%
2024 · €6.35M
2018: €9.75M
2019: €9.57M
2020: €9.52M
2021: €9.42M
2022: €9.22M
2023: €6.53M
2024: €6.35M
2018 → 2025
Total assets
€6.19M▼ 4.1%
2024 · €6.45M
2018: €10.00M
2019: €9.68M
2020: €9.54M
2021: €9.44M
2022: €9.23M
2023: €6.74M
2024: €6.45M
2018 → 2025
Net result
€-173k▲ 3.5%
2024 · €-179k
2018: €6.52M
2019: €-180k
2020: €-145k
2021: €-100k
2022: €-203k
2023: €-79k
2024: €-179k
2018 → 2025
Working capital
€1.36M▲ 2.3%
2024 · €1.33M
2018: €7.35M
2019: €4.09M
2020: €4.18M
2021: €4.31M
2022: €3.70M
2023: €1.26M
2024: €1.33M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€9.42M-€9.22M▼ 2.2%€6.53M▼ 29.2%€6.35M▼ 2.7%€6.18M▼ 2.7%
Operating result€-107k-€-211k▼ 96.7%€-210k▲ 0.6%€-215k▼ 2.4%€-198k▲ 8.1%
Net result€-100k-€-203k▼ 103%€-79k▲ 61.3%€-179k▼ 128%€-173k▲ 3.5%
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 stays negative: a loss of €198k in 2025 against €215k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €6.19M
Fixed assets
€4.82M ▼ 4.1%
Current assets
€1.37M ▼ 4.1%
Equity and liabilities €6.19M
Equity
€6.18M ▼ 2.7%
Debt
€13k ▼ 87.2%
Debt's share of the balance-sheet total falls from 1.6% to 0.2%. Equity and debt are lower.
Key figures and ratios
EBITDA
€52k▲
2024 · €36k
Cash flow
€76k▲
2024 · €72k
Debt to equity
0.00▼
2024 · 0.02
ROE
-2.8%▲
2024 · -2.8%
ROA
-2.8%▼
2024 · -2.8%
Interest coverage
223.73▲
2024 · 155.79
Debt ≤ 1 year
€13k▼
2024 · €103k
Income taxes
€207▲
2024 · €94
A ratio outside any meaningful range has been withheld (balance sheet total €6.19M, equity €6.18M).
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 · 45 lines
Balance sheet
Code20242025
Assets
Total assets20/58€6.45M€6.19M▼
Fixed assets21/28€5.02M€4.82M▼
Tangible fixed assets22/27€5.02M€4.82M▼
Land and buildings22€4.99M€4.80M▼
Plant, machinery and equipment23€386€0▼
Furniture and vehicles24€35k€22k▼
Current assets29/58€1.43M€1.37M▼
Amounts receivable within one year40/41€12k€28k▲
Trade receivables40€1k€0▼
Other amounts receivable41€11k€28k▲
Current investments50/53€1.20M€0▼
Cash at bank and in hand54/58€210k€1.34M▲
Deferred charges and accrued income490/1€9k€8k▼
Equity and liabilities
Total equity and liabilities10/49€6.45M€6.19M▼
Equity10/15€6.35M€6.18M▼
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€7.06M€7.06M=
Non-distributable reserves130/1€267k€267k=
Legal reserve130€267k€267k=
Tax-exempt reserves132€224k€224k=
Distributable reserves133€6.57M€6.57M=
Profit (loss) carried forward14€-769k€-942k▼
Amounts payable17/49€104k€13k▼
Amounts payable within one year42/48€103k€13k▼
Trade debts44€15k€13k▼
Suppliers440/4€15k€13k▼
Other amounts payable47/48€88k€0▼
Accrued charges and deferred income492/3€859€0▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€251k€249k▼
Other operating charges640/8€13k€13k▲
Gross operating margin9900€49k€65k▲
Operating profit (loss)9901€-215k€-198k▲
Financial income75/76B€36k€25k▼
Recurring financial income75€36k€25k▼
Financial charges65/66B€231€231▼
Recurring financial charges65€231€231▼
Profit (loss) for the period before taxes9903€-179k€-173k▲
Income taxes67/77€94€207▲
Profit (loss) for the period9904€-179k€-173k▲
Transfer from tax-exempt reserves789€0-
Profit (loss) for the period to be appropriated9905€-179k€-173k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-769k€-942k▼
Profit (loss) brought forward from the previous period14P€-589k€-769k▼
The notes to these accounts (13 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
08-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Liquidity times 7current ratio 102.80
Current ratio from 13.88 to 102.80; short-term debt falls from €103k to €13k.
28-02
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
02-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
16-03
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-09
Financial
Weakest financial yearnet €-203k
Net result drops to €-203k, the lowest in the series; recovery starts the following year.
15-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
10-02
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
03-04
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
30-09
Financial
Liquidity times 9current ratio 491.52
Current ratio from 54.68 to 491.52; short-term debt falls from €137k to €8k.
11-04
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
09-03
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
03-03
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.
Directors · office · real estate
Directors
8 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, Schilde · 1 establishment unit since 1991
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.
Blijde Inkomst 442970 SchildeGround area
2,708 m²
Building footprint
260 m²
Volume, LiDAR
2,002 m³
Parcel 11041B0136/00E000, Flanders · tallest building 20.2 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Blijde Inkomst 44, 2970 Schilde
since 19912.054.638.855
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11041B0136/00E000 | Flanders | 2,707 m² | 1 · 260 m² | 20.2 m · 3 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.
Recognitions · licences · registrations
Legal Entity Identifier
894500UQ4PWM9WJUK218
Similar companies · same sector, comparable size
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INCUBATHOR WETENSCHAPSPARK WATERSCHEI
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Of 9,140 companies in sector 68201 we hold annual accounts for 6,769. 2,837 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 formPublic limited company
Founded20-09-1991
Fiscal year end30-09
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
68203Renting and operating of own or leased non-residential real estate, excluding land
68204Real estate activities
82990Other business support services
Sources
Crossroads Bank for EnterprisesNational Bank · 33 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.