MASTER CHIPS
ActiveSummary
MASTER CHIPS has been active since 1984 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €450,184 and a net result of €180,158. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 68% of 8160 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency87▲+18
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €35,000 at 30 days acceptable
Liquidity ample (current ratio 2.89 against 2.02 in 2024; short-term debt: 32.6% and cash: 21.4% of total assets), and 38.3% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
61.7%
Return on assets
24.7%
Age of the figures
12 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
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €450,184
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 20-03-2026, 41 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
41 d early
2024
54 d early
2023
7 d early
2022
12 d early
2021
36 d early
2020
42 d early
2019
48 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 34 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
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. Usually files around 25 March (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today30-09-2026 close30-04-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€450,184▲ 47.6%
2024 · €305,026
Total assets
€729,608▲ 4.9%
2024 · €695,219
Net result
€180,158▼ 9.5%
2024 · €199,087
Working capital
€448,536▲ 38.2%
2024 · €324,550
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€18,791▲ 34.0%€46,824▲ 149%€89,891▲ 92.0%€263,191▲ 193%€255,367▼ 3.0%
Net result€8,154within the sector's middle half▲ 3,361%€38,437within the sector's middle half▲ 371%€80,221within the sector's middle half▲ 109%€199,087above the sector's middle half▲ 148%€180,158above the sector's middle half▼ 9.5%
Equity€47,397below the sector's middle half▲ 20.8%€85,834below the sector's middle half▲ 81.1%€166,054within the sector's middle half▲ 93.5%€305,026within the sector's middle half▲ 83.7%€450,184within the sector's middle half▲ 47.6%
Total assets€468,471below the sector's middle half▲ 78.3%€573,065below the sector's middle half▲ 22.3%€633,425within the sector's middle half▲ 10.5%€695,219within the sector's middle half▲ 9.8%€729,608within the sector's middle half▲ 4.9%
Debt€421,074▲ 88.4%€487,232▲ 15.7%€467,371▼ 4.1%€390,192▼ 16.5%€279,424▼ 28.4%
Working capital€47,372below the sector's middle half▲ 31.0%€146,652within the sector's middle half▲ 210%€222,419within the sector's middle half▲ 51.7%€324,550within the sector's middle half▲ 45.9%€448,536within the sector's middle half▲ 38.2%
Solvency10.1%below the sector's middle half▼ 4.8pp15.0%below the sector's middle half▲ 4.9pp26.2%within the sector's middle half▲ 11.2pp43.9%within the sector's middle half▲ 17.7pp61.7%within the sector's middle half▲ 17.8pp
Current ratio1.11below the sector's middle half▼ 0.051.36within the sector's middle half▲ 0.251.54within the sector's middle half▲ 0.192.02within the sector's middle half▲ 0.482.89within the sector's middle half▲ 0.87
Return on assets (ROA)1.7%within the sector's middle half▲ 1.7pp6.7%within the sector's middle half▲ 5.0pp12.7%above the sector's middle half▲ 6.0pp28.6%above the sector's middle half▲ 16.0pp24.7%above the sector's middle half▼ 3.9pp
Staff (FTE)1.6below the sector's middle half▲ 23.1%2within the sector's middle half▲ 25.0%1.3within the sector's middle half▼ 35.0%1.1within the sector's middle half▼ 15.4%1.5within the sector's middle half▲ 36.4%
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
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 3% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €729,608
Fixed assets
€43,442 ▼ 17.8%
Current assets
€686,165 ▲ 6.8%
Equity and liabilities €729,608
Equity
€450,184 ▲ 47.6%
Debt
€279,424 ▼ 28.4%
Debt's share of the balance-sheet total falls from 56.1% to 38.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€269,471▼
2024 · €276,199
Cash flow
€194,261▼
2024 · €212,095
Quick ratio
1.70▲
2024 · 1.33
Debt to equity
0.62▼
2024 · 1.28
ROE
40.0%▼
2024 · 65.3%
Interest coverage
19.07▲
2024 · 15.49
Debt ≤ 1 year
€237,629▼
2024 · €317,807
Debt > 1 year
€41,795▼
2024 · €72,385
Income taxes
€61,896▲
2024 · €47,727
Staff costs
€108,510▲
2024 · €79,797
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,349 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.4%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.3% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 31,349 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €1,082 | €0 | - | - |
| Remuneration, social security and pensions62 | - | €138,184 | €97,228 | €79,797 | €108,510 | ▲ 36.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,929 | €561 | €912 | €13,008 | €14,104 | ▲ 8.4% |
| Other operating charges640/8 | - | €1,142 | €1,022 | €473 | €1,462 | ▲ 209% |
| Non-recurring operating charges66A | - | - | - | €251 | €0 | ▼ 100% |
| Gross operating margin9900 | €158,713 | €186,710 | €189,054 | €356,720 | €379,443 | ▲ 6.4% |
| Operating profit (loss)9901 | €18,791 | €46,824 | €89,891 | €263,191 | €255,367 | ▼ 3.0% |
| Financial income75/76B | - | €1,830 | €595 | €1,454 | €816 | ▼ 43.9% |
| Recurring financial income75 | €284 | €1,830 | €595 | €1,454 | €816 | ▼ 43.9% |
| Financial charges65/66B | - | €9,488 | €9,790 | €17,831 | €14,130 | ▼ 20.8% |
| Recurring financial charges65 | €10,240 | €9,488 | €9,790 | €17,831 | €14,130 | ▼ 20.8% |
| Profit (loss) for the period before taxes9903 | €8,835 | €39,165 | €80,695 | €246,813 | €242,053 | ▼ 1.9% |
| Income taxes67/77 | €680 | €729 | €475 | €47,727 | €61,896 | ▲ 29.7% |
| Profit (loss) for the period9904 | €8,154 | €38,437 | €80,221 | €199,087 | €180,158 | ▼ 9.5% |
| Profit (loss) for the period to be appropriated9905 | €8,154 | €38,437 | €80,221 | €199,087 | €180,158 | ▼ 9.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €468,471 | €573,065 | €633,425 | €695,219 | €729,608 | ▲ 4.9% |
| Fixed assets21/28 | €25 | €18,037 | €2,719 | €52,861 | €43,442 | ▼ 17.8% |
| Intangible fixed assets21 | €0 | - | - | - | - | - |
| Tangible fixed assets22/27 | €25 | €18,037 | €2,719 | €52,861 | €43,442 | ▼ 17.8% |
| Plant, machinery and equipment23 | - | €1,481 | €2,719 | €1,412 | €3,771 | ▲ 167% |
| Furniture and vehicles24 | - | €16,556 | €0 | €51,449 | €39,672 | ▼ 22.9% |
| Financial fixed assets28 | €0 | - | - | - | - | - |
| Current assets29/58 | €468,446 | €555,028 | €630,707 | €642,358 | €686,165 | ▲ 6.8% |
| Stocks and contracts in progress3 | €165,672 | €218,665 | €261,105 | €220,000 | €282,000 | ▲ 28.2% |
| Stocks30/36 | - | €218,665 | €261,105 | €220,000 | €282,000 | ▲ 28.2% |
| Amounts receivable within one year40/41 | €288,992 | €293,220 | €266,330 | €354,963 | €231,704 | ▼ 34.7% |
| Trade receivables40 | - | €269,733 | €242,467 | €316,979 | €217,578 | ▼ 31.4% |
| Other amounts receivable41 | - | €23,488 | €23,862 | €37,985 | €14,127 | ▼ 62.8% |
| Cash at bank and in hand54/58 | €9,656 | €37,974 | €97,459 | €59,162 | €155,907 | ▲ 164% |
| Deferred charges and accrued income490/1 | - | €5,170 | €5,813 | €8,233 | €16,554 | ▲ 101% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €468,471 | €573,065 | €633,425 | €695,219 | €729,608 | ▲ 4.9% |
| Equity10/15 | €47,397 | €85,834 | €166,054 | €305,026 | €450,184 | ▲ 47.6% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €28,797 | €67,234 | €147,454 | €286,426 | €431,584 | ▲ 50.7% |
| Non-distributable reserves130/1 | - | €1,860 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | €1,860 | €0 | - | - | - |
| Distributable reserves133 | - | €65,374 | €147,454 | €286,426 | €431,584 | ▲ 50.7% |
| Profit (loss) carried forward14 | - | - | - | €0 | €0 | - |
| Amounts payable17/49 | €421,074 | €487,232 | €467,371 | €390,192 | €279,424 | ▼ 28.4% |
| Amounts payable after more than one year17 | - | €78,855 | €59,083 | €72,385 | €41,795 | ▼ 42.3% |
| Financial debts170/4 | - | €78,855 | €59,083 | €72,385 | €41,795 | ▼ 42.3% |
| Amounts payable within one year42/48 | €421,074 | €408,377 | €408,288 | €317,807 | €237,629 | ▼ 25.2% |
| Current portion of amounts payable after more than one year42 | - | €19,529 | €19,772 | €59,642 | €62,395 | ▲ 4.6% |
| Financial debts43 | - | €101,423 | €100,000 | €0 | €286 | - |
| Credit institutions430/8 | - | €1,423 | €0 | - | €286 | - |
| Other loans439 | - | €100,000 | €100,000 | €0 | - | - |
| Trade debts44 | €187,946 | €189,829 | €249,826 | €148,550 | €113,901 | ▼ 23.3% |
| Suppliers440/4 | - | €189,829 | €249,826 | €148,550 | €113,901 | ▼ 23.3% |
| Taxes, remuneration and social security45 | - | €38,012 | €25,364 | €35,304 | €25,868 | ▼ 26.7% |
| Taxes450/3 | - | €24,218 | €18,785 | €28,303 | €18,595 | ▼ 34.3% |
| Remuneration and social security454/9 | - | €13,794 | €6,578 | €7,001 | €7,273 | ▲ 3.9% |
| Other amounts payable47/48 | - | €59,584 | €13,327 | €74,311 | €35,179 | ▼ 52.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €8,154 | €38,437 | €80,221 | €199,087 | €180,158 | ▼ 9.5% |
| + Depreciation and write-downs630 | €2,929 | €561 | €912 | €13,008 | €14,104 | ▲ 8.4% |
| Operating cash flow (approximation) | €11,083 | €38,998 | €81,133 | €212,095 | €194,261 | ▼ 8.4% |
| Investment in fixed assets (approximation) | - | -€18,573 | €14,406 | -€63,151 | -€4,685 | ▲ 92.6% |
| Change in cash | - | €28,318 | €59,485 | -€38,297 | €96,746 | ▲ 353% |
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
20-03
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
07-03
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
30-09
Financial
Highest result since 2018net €199,087 ▲148%
Operating result €263,191, net result €199,087, both a record.
30-09
Financial
Equity above €200,000Eq €305,026 ▲83.7%
7 profitable years in a row build equity to €305,026.
23-04
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-09
Financial
Equity above €150,000Eq €166,054 ▲93.5%
6 profitable years in a row build equity to €166,054.
18-04
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
25-03
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
19-03
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
13-03
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
30-09
Financial
Weakest financial yearnet €40 ▼99.9%
Net result drops to €40, the lowest in the series; recovery starts the following year.
14-03
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
02-02
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
09-02
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 6 acts read
About the unread acts
We know of 6 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
6 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, Aalst · 1 establishment unit since 1984
Ground area
9,053 m²
Building footprint
1,601 m²
Volume, LiDAR
10,903 m³
Parcel 41342B1195/00M000, Flanders · tallest building 7.8 m, ±2 floors. Linked by address, not a title deed.
93
companies at this address
See who is registered here
1 establishment unit
Industrielaan 4, 9320 Aalst
since 19842.024.298.839
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41342B1195/00M000 | Flanders | 9,053 m² | 1 · 1,601 m² | 7.8 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.
Structure & network
Owners and holdings
2 ownersChain of control
- Master Chips Management
- MASTER CHIPS
Highest known parent: Master Chips Management. The sources do not say who stands above it.
Owners 2
-
100%
- YMPACTparentSourceaccounts YMPACT 2025100%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2022 to 2023 · 2 entries · 3,318 EUR awarded · 2,346 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 1,638 EUR | 2,346 EUR |
| 2022 | 1 | 1,680 EUR | 0 EUR |
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Of 979 companies in sector 46431 we hold annual accounts for 706. 536 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
Founded23-02-1984
Fiscal year end30-09
Activities, NACEBEL 2025
46431Wholesale of electrical household appliances and audio-video equipment
46643Wholesale of electrical equipment, including installation materials
E-invoicing
Reachable via Peppol
Peppol ID
0208:0425352027
Also
9925:BE0425352027
Registered
12-02-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.