Masterworkx
Annual accounts 2025
micro format, filed on 15-05-2026, 77 days before the deadlineTurnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €210,000. Estimated: probably between €140,000 and €360,000.
Balance sheet
balance sheet total €198,952 on 31-12-2025in euro
in euro
Position in the sector
52.8%
Higher than 53% of 2,487 companies in 2025.
2.55
Higher than 59% of 2,350 companies in 2025.
25.8%
Higher than 81% of 2,395 companies in 2025.
Net result: top quarter · Equity: middle half · Balance sheet total: middle half · Working capital: top quarter
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Balance sheet: assets | ||||
20/58 |
198,952 | 91,024 | 24,548 | |
21/28 |
832 | - | - | |
22/27 |
832 | - | - | |
23 |
832 | - | - | |
29/58 |
198,120 | 91,024 | 24,548 | |
40/41 |
78,697 | 48,469 | 16,639 | |
40 |
65,608 | 41,625 | 8,190 | |
41 |
13,089 | 6,843 | 8,450 | |
50/53 |
0 | 22,402 | - | |
54/58 |
98,331 | 18,354 | 7,568 | |
490/1 |
21,092 | 1,800 | 340 | |
| Balance sheet: equity and liabilities | ||||
10/49 |
198,952 | 91,024 | 24,548 | |
10/15 |
104,998 | 53,594 | 15,075 | |
10/11 |
1,000 | 1,000 | 1,000 | |
14 |
103,998 | 52,594 | 14,075 | |
17/49 |
93,953 | 37,429 | 9,472 | |
17 |
16,236 | - | - | |
170/4 |
16,236 | - | - | |
42/48 |
77,718 | 37,429 | 8,521 | |
42 |
3,764 | - | - | |
44 |
49,416 | 0 | 4,411 | |
440/4 |
49,416 | 0 | 4,411 | |
46 |
0 | 19,387 | - | |
45 |
24,537 | 18,042 | 4,110 | |
450/3 |
24,537 | 18,042 | 4,110 | |
492/3 |
- | 0 | 951 | |
| Income statement | ||||
9900 |
68,916 | 50,785 | 17,898 | |
630 |
173 | - | - | |
640/8 |
1,764 | 1,483 | - | |
9901 |
66,978 | 49,302 | 17,898 | |
75/76B |
578 | 108 | 19 | |
75 |
578 | 108 | 19 | |
65/66B |
2,053 | 797 | 86 | |
65 |
2,053 | 797 | 86 | |
9903 |
65,503 | 48,614 | 17,831 | |
67/77 |
14,099 | 10,094 | 3,756 | |
9904 |
51,404 | 38,519 | 14,075 | |
9905 |
51,404 | 38,519 | 14,075 | |
| Appropriation of the result | ||||
9906 |
103,998 | 52,594 | 14,075 | |
14P |
52,594 | 14,075 | - | |
| Document | ||||
The notes to these accounts have 6 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 15-05-2026.
Filings
each dot is a set of accounts, on the day it reached the National BankKey figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| 67,152 | - | - | ||
| 51,577 | - | - | ||
| 1,006 | - | - | ||
| 79,978 | 10,785 | - | ||
| 120,402 | 53,594 | 16,026 | ||
| 52.8% | 58.9% | 61.4% | ||
| 2.55 | 2.43 | 2.88 | ||
| 0.89 | 0.70 | 0.63 | ||
| 49.0% | 71.9% | 93.4% | ||
| 25.8% | 42.3% | 57.3% | ||
| 32.70 | - | - |
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.
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 |
|---|---|---|---|
| Tangible fixed assets | €1,006 | - | - |
| €173 | - | - |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
Insights on Masterworkx
The operating result for 2025 is 36% higher than in 2024 and the highest since 2023. It is the second rise in a row.
Debt's share of the balance-sheet total rises from 41.1% to 47.2%. Equity and debt are higher.