TECHMASTER
ActiveSummary
TECHMASTER has been active since 2000 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €105,726 and a net result of €19,507. Equity is growing by about 19% per year across the filed financial years. Its solvency ranks better than 90% of 2,316 sector peers (NACE 25, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
- Equity
- €105,726
- Profit
- €19,507
Why 98raises riskLast filed accounts filed 30 days late; 1 of the last 3 latelowers riskLiquidity: current ratio 4.45, cash €52,466Equity €105,726 (87.5% of total assets)Founded in 2000Show the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 25, micro): better than 90% on solvency, 95% on liquidity, 79% on profitability and 74% on growth.
The bankruptcy probability was computed on 24-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 39 days after the deadline; the sector median (NACE 25) for financial year 2024 is 8 days before the deadline, and 35% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Equity above €100,000equity €105,726 ▲22.6%
- Annual accounts filedfinancial year 2024 · micro…
Financials · financial year 2025, micro format
2025 annual accounts filed late (30 days) Filed on 30 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00462652.
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result has risen four years in a row; 2025 is 15% above 2024 and is the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 25, Manufacture of fabricated metal products, except machinery and equipment: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Peer companies
Historical observationOf the 31,373 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 93.5% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.1% 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 497,475 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 31,373 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,673 | €15,328 | €10,198 | €12,608 | €16,273 | €9,738 | €12,067 | €14,945 | ▲ 23.9% |
| Other operating charges640/8 | - | - | - | €755 | €963 | €874 | €1,352 | €1,620 | ▲ 19.8% |
| Gross operating margin9900 | €27,673 | €21,161 | €19,387 | €19,995 | €31,611 | €36,320 | €39,258 | €46,236 | ▲ 17.8% |
| Operating profit (loss)9901 | €12,905 | €5,139 | €8,132 | €6,631 | €14,376 | €25,707 | €25,839 | €29,672 | ▲ 14.8% |
| Financial income75/76B | - | - | - | €25 | €89 | €34 | €155 | - | - |
| Recurring financial income75 | €2,030 | €22 | €3,066 | €25 | €89 | €34 | €155 | - | - |
| Financial charges65/66B | - | - | - | €3,013 | €5,895 | €5,684 | €2,043 | €1,845 | ▼ 9.7% |
| Recurring financial charges65 | €1,091 | €1,727 | €1,892 | €3,013 | €5,895 | €5,684 | €2,043 | €1,845 | ▼ 9.7% |
| Profit (loss) for the period before taxes9903 | €13,844 | €3,434 | €9,307 | €3,644 | €8,570 | €20,058 | €23,951 | €27,827 | ▲ 16.2% |
| Income taxes67/77 | €2,525 | €1,255 | €1,890 | €988 | €2,987 | €6,247 | €1,793 | €8,320 | ▲ 364% |
| Profit (loss) for the period9904 | €11,319 | €2,179 | €7,417 | €2,657 | €5,583 | €13,811 | €22,159 | €19,507 | ▼ 12.0% |
| Profit (loss) for the period to be appropriated9905 | €11,319 | €2,179 | €7,417 | €2,657 | €5,583 | €13,811 | €22,159 | €19,507 | ▼ 12.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €83,180 | €113,771 | €124,794 | €102,229 | €96,888 | €102,184 | €113,845 | €120,844 | ▲ 6.1% |
| Fixed assets21/28 | €33,898 | €43,916 | €49,524 | €55,814 | €42,301 | €32,563 | €51,473 | €53,612 | ▲ 4.2% |
| Tangible fixed assets22/27 | €33,898 | €43,916 | €49,524 | €55,814 | €42,301 | €32,563 | €51,473 | €53,612 | ▲ 4.2% |
| Land and buildings22 | - | - | - | €18,267 | €15,630 | €12,993 | €10,356 | €16,388 | ▲ 58.3% |
| Plant, machinery and equipment23 | - | - | - | €15,306 | €14,217 | €11,077 | €30,082 | €29,903 | ▼ 0.6% |
| Furniture and vehicles24 | - | - | - | €22,241 | €12,455 | €8,494 | €11,035 | €7,321 | ▼ 33.7% |
| Current assets29/58 | €49,282 | €69,856 | €75,269 | €46,415 | €54,586 | €69,621 | €62,372 | €67,233 | ▲ 7.8% |
| Stocks and contracts in progress3 | €2,975 | €2,975 | €2,975 | €13,651 | €18,939 | €12,914 | €2,914 | €2,914 | = |
| Stocks30/36 | - | - | - | €13,651 | €18,939 | €12,914 | €2,914 | €2,914 | = |
| Amounts receivable within one year40/41 | €31,468 | €49,967 | €42,465 | €12,992 | €20,656 | €14,818 | €36,661 | €11,853 | ▼ 67.7% |
| Trade receivables40 | - | - | - | €3,394 | €18,607 | €14,402 | €33,782 | €11,853 | ▼ 64.9% |
| Other amounts receivable41 | - | - | - | €9,598 | €2,049 | €416 | €2,879 | - | - |
| Cash at bank and in hand54/58 | €8,054 | €11,306 | €29,829 | €18,703 | €9,831 | €35,816 | €15,520 | €52,466 | ▲ 238% |
| Deferred charges and accrued income490/1 | - | - | - | €1,069 | €5,159 | €6,073 | €7,277 | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €83,180 | €113,771 | €124,794 | €102,229 | €96,888 | €102,184 | €113,845 | €120,844 | ▲ 6.1% |
| Equity10/15 | €32,415 | €34,594 | €42,011 | €44,667 | €50,250 | €64,061 | €86,219 | €105,726 | ▲ 22.6% |
| Contributions10/11 | €12,400 | €12,400 | - | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €20,015 | €20,015 | €20,015 | €20,015 | €37,850 | €51,661 | €73,819 | €93,326 | ▲ 26.4% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | - | - | - | €18,155 | €35,990 | €51,661 | €73,819 | €93,326 | ▲ 26.4% |
| Profit (loss) carried forward14 | - | €2,179 | €9,596 | €12,252 | - | - | - | - | - |
| Amounts payable17/49 | €50,765 | €79,178 | €82,783 | €57,562 | €46,638 | €38,123 | €27,625 | €15,118 | ▼ 45.3% |
| Amounts payable after more than one year17 | €22,815 | €48,287 | €46,287 | €39,046 | €16,141 | €5,743 | - | - | - |
| Financial debts170/4 | - | - | - | €39,046 | €16,141 | €5,743 | - | - | - |
| Amounts payable within one year42/48 | €27,950 | €30,890 | €36,496 | €18,515 | €30,496 | €31,751 | €27,625 | €15,118 | ▼ 45.3% |
| Current portion of amounts payable after more than one year42 | - | - | - | €13,943 | €16,043 | €10,398 | €5,677 | - | - |
| Financial debts43 | - | - | - | - | - | - | €7,462 | €7,358 | ▼ 1.4% |
| Credit institutions430/8 | - | - | - | - | - | - | €7,462 | €7,358 | ▼ 1.4% |
| Trade debts44 | €979 | €11,753 | €16,390 | €3,739 | €12,392 | €18,871 | €11,116 | €1,022 | ▼ 90.8% |
| Suppliers440/4 | - | - | - | €3,739 | €12,392 | €18,871 | €11,116 | €1,022 | ▼ 90.8% |
| Taxes, remuneration and social security45 | - | - | - | - | €987 | €1,047 | €3,108 | €6,374 | ▲ 105% |
| Taxes450/3 | - | - | - | - | €987 | €1,047 | €3,108 | €6,374 | ▲ 105% |
| Other amounts payable47/48 | - | - | - | €834 | €1,074 | €1,435 | €263 | €365 | ▲ 38.6% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €629 | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11,319 | €2,179 | €7,417 | €2,657 | €5,583 | €13,811 | €22,159 | €19,507 | ▼ 12.0% |
| + Depreciation and write-downs630 | €13,673 | €15,328 | €10,198 | €12,608 | €16,273 | €9,738 | €12,067 | €14,945 | ▲ 23.9% |
| Operating cash flow (approximation) | €24,992 | €17,507 | €17,615 | €15,265 | €21,855 | €23,549 | €34,226 | €34,452 | ▲ 0.7% |
| Investment in fixed assets (approximation) | - | -€25,346 | -€15,807 | -€18,898 | -€2,760 | €0 | -€30,977 | -€17,083 | ▲ 44.9% |
| Change in cash | - | €3,251 | €18,524 | -€11,126 | -€8,872 | €25,984 | -€20,296 | €36,946 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 26 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 30-08-2026 | 2026-00462652 |
| 31-12-2024 | micro format | 30-08-2025 | 2025-00447913 |
| 31-12-2023 | micro format | 31-08-2024 | 2024-00425584 |
| 31-12-2022 | micro format | 31-08-2023 | 2023-00436456 |
| 31-12-2021 | micro format | 31-08-2022 | 2022-20392447 |
| 31-12-2020 | micro format | 31-08-2021 | 2021-66200039 |
| 31-12-2019 | micro format | 30-10-2020 | 2020-67200523 |
| 31-12-2018 | micro format | 20-08-2019 | 2019-48600179 |
| 31-12-2017 | micro format | 28-08-2018 | 2018-52500406 |
| 31-12-2016 | micro format | 17-08-2017 | 2017-44400433 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Stefan Coen |
|
Owners and capital
Capital and shareholders
- 22-12-2023 Converted to unavailable equity
Group and network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
22-12
Gazette deed
Resignation: Stefan Coen (manager)Appointment: Stefan Coen (director) · Purpose change · Amendment of the articles9 facts ▸
- Purpose change
- Amendment of the articles (2 times)
- Capital conversion, “statutair onbeschikbare eigen vermogensrekening” (deed in Dutch)
- Power of attorney
- Director resignation, Stefan Coen (manager (not named in the articles))
- Director appointment, Stefan Coen (director (not named in the articles))
- Capital
- Registered office clause, “Doddelbergstraat 5/A”, 3472 (deed in Dutch)
- Other provision, “stemming, unanimiteit van stemmen” (deed in Dutch)
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 25 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 24050D0319/00H009 | Flanders | 1,346 m² | 1 · 729 m² | - |
How the parcels are linked
Articles of association
What the company does
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- Techmaster
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- One provision in the deed
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “Een of meer bestuurders, met of zonder beperking van duur” (deed in Dutch)“Vaste of evenredige vergoeding, algemene kosten los van representatie-,reis-en verplaatsingskosten” (deed in Dutch)
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- One provision in the deed
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Overdracht onder levenden of overgang door overlijden,ook aan aandeelhouder,echtgenoot,descendenten in rechte lijn, helft overdrager en…” (deed in Dutch)
- Share issue ruleHow and by whom new shares can be issued.
- One provision in the deed
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Algemene vergadering, vormen vereist voor statutenwijziging” (deed in Dutch)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Indien geen andere vereffenaar benoemd, bestuurder(s) in functie krachtens statuten” (deed in Dutch)