MASTER TECH
Annual accounts 2025
micro format, filed on 31-08-2026, 31 days lateTurnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €2.3m. Estimated: probably between €1.5m and €3.0m.
Balance sheet
balance sheet total €1.5m on 31-12-2025in euro
in euro
Position in the sector
37.9%
Higher than 42% of 1,263 companies in 2025.
1.97
Higher than 58% of 1,222 companies in 2025.
29.2%
Higher than 82% of 1,227 companies in 2025.
Net result: top quarter · Equity: top quarter · Balance sheet total: top quarter · Working capital: top quarter
Staff
€40,272
Staff costs divided by the average number of full-time equivalents.
+6 people
In 2025, 38 people joined and 32 left.
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||
20/58 |
1.5m | 958,112 | 848,926 | 720,327 | 140,658 | |
21/28 |
653,829 | 523,831 | 617,061 | 580,542 | 48,969 | |
22/27 |
653,679 | 523,691 | 616,921 | 580,402 | 48,969 | |
22 |
303,006 | 312,570 | 322,134 | 331,698 | - | |
23 |
20,542 | 12,188 | 19,763 | 15,526 | 1,254 | |
24 |
330,132 | 198,934 | 275,023 | 233,177 | 47,715 | |
28 |
150 | 140 | 140 | 140 | - | |
29/58 |
803,122 | 434,281 | 231,865 | 139,785 | 91,689 | |
29 |
55,812 | 104,186 | 101,151 | - | - | |
290 |
0 | 104,186 | 101,151 | - | - | |
291 |
55,812 | - | - | - | - | |
3 |
0 | 65,000 | - | - | - | |
37 |
0 | 65,000 | - | - | - | |
40/41 |
300,182 | 197,986 | 100,833 | 131,622 | 61,094 | |
40 |
58,237 | 108,237 | 62,345 | 63,288 | 7,789 | |
41 |
241,945 | 89,748 | 38,487 | 68,334 | 53,305 | |
54/58 |
433,831 | 57,058 | 22,707 | 32 | 26,827 | |
490/1 |
13,297 | 10,051 | 7,175 | 8,131 | 3,769 | |
| Balance sheet: equity and liabilities | ||||||
10/49 |
1.5m | 958,112 | 848,926 | 720,327 | 140,658 | |
10/15 |
551,713 | 225,574 | 215,523 | 125,093 | 64,671 | |
10/11 |
6,000 | 6,000 | 6,000 | 6,000 | 6,000 | |
13 |
545,713 | 219,574 | 209,523 | 119,093 | 58,671 | |
133 |
545,713 | 219,574 | 209,523 | 119,093 | 58,671 | |
14 |
0 | 0 | 0 | 0 | 0 | |
16 |
34,599 | 34,599 | 34,599 | 14,176 | 5,252 | |
160/5 |
34,599 | 34,599 | 34,599 | 14,176 | 5,252 | |
164/5 |
34,599 | 34,599 | 34,599 | 14,176 | 5,252 | |
17/49 |
870,639 | 697,940 | 598,804 | 581,058 | 70,735 | |
17 |
462,741 | 395,136 | 430,905 | 438,602 | 25,280 | |
170/4 |
462,741 | 395,136 | 430,905 | 438,602 | 25,280 | |
42/48 |
406,743 | 301,890 | 167,899 | 141,365 | 45,455 | |
42 |
133,413 | 85,897 | 63,534 | 53,436 | 9,850 | |
44 |
70,239 | 13,733 | 43,935 | 40,614 | 6,378 | |
440/4 |
70,239 | 13,733 | 43,935 | 40,614 | 6,378 | |
45 |
203,091 | 97,012 | 47,431 | 47,315 | 15,327 | |
450/3 |
154,532 | 63,073 | 23,666 | 26,289 | 15,234 | |
454/9 |
48,559 | 33,939 | 23,765 | 21,027 | 93 | |
47/48 |
0 | 105,247 | 13,000 | 0 | 13,900 | |
492/3 |
1,156 | 914 | 0 | 1,091 | - | |
| Income statement | ||||||
76A |
0 | 2,502 | - | - | - | |
9900 |
1.3m | 452,817 | 422,229 | 251,523 | 114,166 | |
62 |
555,756 | 172,499 | 167,317 | 111,081 | 12,446 | |
630 |
102,848 | 86,002 | 83,557 | 47,656 | 8,723 | |
635/8 |
- | 0 | 20,423 | 8,924 | 5,252 | |
640/8 |
7,032 | 7,946 | 5,813 | 4,356 | 1,636 | |
9901 |
594,752 | 186,370 | 145,119 | 79,507 | 86,110 | |
75/76B |
8,486 | 4,246 | 1,714 | 2,949 | 2,899 | |
75 |
8,486 | 4,246 | 1,714 | 2,949 | 2,899 | |
65/66B |
23,799 | 23,662 | 16,102 | 9,149 | 357 | |
65 |
23,799 | 23,662 | 16,102 | 9,149 | 357 | |
9903 |
579,439 | 166,954 | 130,731 | 73,307 | 88,653 | |
67/77 |
153,300 | 51,021 | 27,302 | 12,885 | 14,982 | |
9904 |
426,139 | 115,933 | 103,430 | 60,422 | 73,671 | |
9905 |
426,139 | 115,933 | 103,430 | 60,422 | 73,671 | |
| Appropriation of the result | ||||||
9906 |
426,139 | 115,933 | 103,430 | 60,422 | 73,671 | |
691/2 |
326,139 | 10,051 | 90,430 | 60,422 | 58,671 | |
6921 |
326,139 | 10,051 | 90,430 | 60,422 | 58,671 | |
694/7 |
100,000 | 105,882 | 13,000 | 0 | 15,000 | |
694 |
100,000 | 105,882 | - | - | - | |
695 |
- | 0 | 13,000 | 0 | 15,000 | |
| Social balance sheet | ||||||
9087 |
13.8 | 5.4 | 4.5 | 2.3 | - | |
Hours worked1013 |
15,052 | 4,677 | 4,560 | 2,240 | - | |
| Document | ||||||
The notes to these accounts have 11 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 31-08-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank2025 annual accounts filed 31 days after the deadline. Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00459763.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 31-08-2026 | 2026-00459763 | |
| 31-12-2024 | micro format | 02-07-2025 | 2025-00216624 | |
| 31-12-2023 | micro format | 11-09-2024 | 2024-00460521 | |
| 31-12-2022 | micro format | 14-07-2023 | 2023-00237071 | |
| 31-12-2021 | micro format | 25-07-2022 | 2022-20225703 |
Subsidies and aid
Flemish government 2023, 1 entry, €363 awarded, €363 paid
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| 697,600 | 272,372 | 228,676 | 127,163 | 94,833 | ||
| 528,987 | 201,935 | 186,987 | 108,078 | 82,394 | ||
| 232,845 | 6,800 | 120,076 | 579,229 | 56,589 | ||
| 376,773 | 34,352 | 22,674 | -26,794 | - | ||
| 396,379 | 132,392 | 63,966 | -1,580 | 46,235 | ||
| 37.9% | 23.5% | 25.4% | 17.4% | 46.0% | ||
| 1.97 | 1.44 | 1.38 | 0.99 | 2.02 | ||
| 1.97 | 1.22 | 1.38 | 0.99 | 2.02 | ||
| 1.58 | 3.09 | 2.78 | 4.65 | 1.09 | ||
| 77.2% | 51.4% | 48.0% | 48.3% | 113.9% | ||
| 29.2% | 12.1% | 12.2% | 8.4% | 52.4% | ||
| 29.31 | 11.51 | 14.20 | 13.90 | over 100 |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Social balance sheet
| Item | 31-12-2025 | 31-12-2024 | 31-12-2023 | 31-12-2022 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 13 | 7 | 5 | 2 |
| full-time | 12 | 7 | 5 | 2 |
| part-time | 1 | 0 | 0 | 0 |
| in full-time equivalents | 12.6 | 7 | 5 | 2 |
| 13.4 | 5.3 | 4.3 | 2.3 | |
| On a permanent contract | 12 | 7 | 5 | 2 |
| Joined | 38 | 9 | 11 | 9 |
| Left | 32 | 7 | 8 | 7 |
| Training hours | 0 | 0 | 0 | - |
Source: social balance sheet in the 2022 to 2025 annual accounts
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €232,835 | €6,800 | €120,076 | €579,089 | €56,589 |
| Intangible fixed assets | - | - | - | - | €0 |
| Financial fixed assets | €10 | - | - | €140 | €0 |
| €102,848 | €86,002 | €83,557 | €47,656 | €8,723 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on MASTER TECH
The operating result for 2025 is 3.2 times that of 2024 and the highest since 2021. It is the third rise in a row, after the fall in 2022.
Debt's share of the balance-sheet total falls from 72.8% to 59.8%. Equity and debt are higher.