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Masy Pharma

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Financial year 2025 · closed on 31/12/2025

Net result

5,8 k €

-69.8% YoY

Gross margin

117,9 k €

-15.8% YoY

Equity

475,5 k €

+1.2% YoY

Workforce

0,0 ETP

What does Masy Pharma do?

Masy Pharma is a Private limited company incorporated in 1986. Its main activity is: Dispensing chemist in specialised stores. Its registered office is in Vilvoorde.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0429.997.139

Incorporation

17/12/1986

Legal form

Private limited company

Registered office

Meeuwenlaan 19
1800 Vilvoorde · FlandreSee on map

Contributed capital

18 592,01 €

Latest accounts

31/12/2025

Average workforce

0,0 ETP

Activities (NACE)

47730Dispensing chemist in specialised stores· main 47730Dispensing chemist in specialised stores 52310Warehousing and support activities for transportation

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	117,9 k €	-15.8%	140 k €	-1.6%	142,3 k €	-10.6%	159,2 k €	+36.8%	116,4 k €	+30.8%	88,9 k €	+48.3%	60 k €	-23.6%	78,5 k €	-58.4%	188,8 k €	+20.7%	156,4 k €	-15.7%	185,5 k €	-11.2%	208,9 k €	-1.3%	211,6 k €	+49.3%	141,7 k €	+11.2%	127,4 k €	+1.0%	126,2 k €	-8.6%	138,1 k €	-28.8%	194,1 k €	+8.5%	178,9 k €	+1849%	-10,2 k €
EBITDA	14,9 k €	-35.7%	23,2 k €	-14.7%	27,2 k €	-46.4%	50,9 k €	+154%	20 k €	-46.4%	37,3 k €	+309%	-17,9 k €	-387%	-3,7 k €	-103%	104,8 k €	+46.2%	71,7 k €	-28.3%	100 k €	-21.2%	126,9 k €	+7.3%	118,2 k €	+108%	56,9 k €	+708%	-9,4 k €	-85.4%	-5,1 k €	+39.8%	-8,4 k €	-202%	8,3 k €	+190%	-9,2 k €	+95.5%	-204,5 k €
Operating result	9,7 k €	-46.0%	18 k €	-18.7%	22,2 k €	-53.2%	47,3 k €	+140%	19,8 k €	-46.4%	36,9 k €	+282%	-20,3 k €	-49.0%	-13,6 k €	-115%	92,5 k €	+58.2%	58,5 k €	-31.4%	85,2 k €	-23.1%	110,8 k €	+1.2%	109,5 k €	+117%	50,4 k €	+429%	-15,3 k €	-48.7%	-10,3 k €	+31.0%	-14,9 k €	-1264%	-1,1 k €	+94.3%	-19,2 k €	+91.2%	-219,7 k €
Net result	5,8 k €	-69.8%	19,1 k €	+1.8%	18,8 k €	-58.4%	45,1 k €	+156%	17,6 k €	-50.6%	35,7 k €	+488%	-9,2 k €	-315%	-2,2 k €	-103%	82,6 k €	+104%	40,5 k €	-31.4%	59 k €	-27.9%	81,9 k €	-5.6%	86,8 k €	+83.8%	47,2 k €	+3902%	-1,2 k €	-199%	1,3 k €	+320%	-570,4 €	-105%	12,4 k €	+353%	2,7 k €	-91.7%	33,2 k €
Balance sheet
Equity	475,5 k €	+1.2%	469,8 k €	+4.2%	450,7 k €	+0.2%	449,9 k €	+0.9%	445,7 k €	+0.4%	444,1 k €	+1.3%	438,4 k €	-2.1%	447,6 k €	-0.5%	449,8 k €	+22.5%	367,2 k €	+12.4%	326,6 k €	+22.1%	267,6 k €	+44.1%	185,7 k €	+87.7%	99 k €	+91.2%	51,8 k €	-2.3%	53 k €	+2.4%	51,8 k €	-1.1%	52,3 k €	+31.1%	39,9 k €	+7.4%	37,2 k €
Total assets	700,3 k €	+25.2%	559,2 k €	-28.4%	781,2 k €	-7.1%	840,9 k €	+5.0%	800,8 k €	+3.6%	773,2 k €	+7.0%	722,4 k €	+9.5%	659,6 k €	-41.1%	1,1 M €	+22.6%	913,8 k €	+12.9%	809 k €	+14.0%	709,7 k €	+13.9%	623,1 k €	+11.0%	561,5 k €	+13.2%	495,9 k €	-6.2%	528,5 k €	+19.1%	443,8 k €	+6.6%	416,2 k €	+9.0%	382 k €	-36.1%	597,4 k €
Cash	63,8 k €	+1.6%	62,8 k €	+58.7%	39,6 k €	-59.1%	96,8 k €	+287%	25 k €	+131%	10,8 k €	+357%	2,4 k €	-43.0%	4,2 k €	-76.9%	18 k €	-45.6%	33,1 k €	-33.6%	49,9 k €	+17.7%	42,4 k €	-43.1%	74,6 k €	+410%	14,6 k €	+7.7%	13,6 k €	+5.0%	12,9 k €	+260%	3,6 k €	-28.7%	5 k €	-79.2%	24,2 k €	-72.6%	88,6 k €
Debts	217 k €	+152%	86,1 k €	-73.2%	321,6 k €	-17.2%	388,7 k €	+10.3%	352,3 k €	+8.3%	325,1 k €	+14.7%	283,6 k €	+36.3%	208 k €	-69.0%	670,1 k €	+22.7%	546,3 k €	+13.3%	482,1 k €	+9.5%	440,5 k €	+1.1%	435,8 k €	-5.5%	461,1 k €	+4.2%	442,3 k €	-6.7%	474,3 k €	+21.5%	390,4 k €	+10.4%	353,5 k €	+3.7%	341 k €	-39.0%	559 k €
Other
Workforce	0,0 ETP		0,0 ETP	-100%	2,0 ETP	+5.3%	1,9 ETP	0.0%	1,9 ETP	+26.7%	1,5 ETP		–		0,6 ETP	-40.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	-23.1%	1,3 ETP	+30.0%	1,0 ETP	-50.0%	2,0 ETP	+11.1%	1,8 ETP	-14.3%	2,1 ETP	-25.0%	2,8 ETP	-15.2%	3,3 ETP	+10.0%	3,0 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 100 k€ and 250 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 4 ended

Active mandates

MASY HOLDING

Director · 0689.895.771

Represented by André Masy

Active

Ended mandates

MASY HOLDING

Manager · since 07 février 2018 · 0689.895.771

Ended

ANDRE MASY

Manager

Ended

MASY HOLDING

Director · 0689.895.771

Represented by André Masy

Ended

MASY HOLDING

Director · 0689.895.771

Represented by André MASY

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	20/08/2026	19/08/2025	25/06/2024	27/06/2023	15/07/2022	25/06/2021
General meeting	01/06/2026	02/06/2025	03/06/2024	05/06/2023	06/06/2022	07/06/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

22 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	01/06/2026	20/08/2026	Dutch	PDF
Abridged model	31/12/2024	02/06/2025	19/08/2025	Dutch	PDF
Abridged model	31/12/2023	03/06/2024	25/06/2024	Dutch	PDF
Abridged model	31/12/2022	05/06/2023	27/06/2023	Dutch	PDF
Abridged model	31/12/2021	06/06/2022	15/07/2022	Dutch	PDF
Abridged model	31/12/2020	07/06/2021	25/06/2021	Dutch	PDF
Abridged model	31/12/2019	02/06/2020	30/06/2020	Dutch	PDF
Abridged model	31/12/2018	03/06/2019	25/07/2019	Dutch	PDF
Abridged model	31/12/2017	04/06/2018	26/06/2018	Dutch	PDF
Abridged model	31/12/2016	06/06/2017	20/06/2017	Dutch	PDF
Abridged model	31/12/2015	06/06/2016	16/06/2016	Dutch	PDF
Abridged model	31/12/2014	01/06/2015	13/07/2015	Dutch	PDF
Abridged model	31/12/2013	02/06/2014	26/06/2014	Dutch	PDF
Abridged modelCorrection	31/12/2012	03/06/2013	22/11/2013	Dutch	PDF
Abridged model	31/12/2012	03/06/2013	15/07/2013	Dutch	PDF
Abridged modelCorrection	31/12/2011	04/06/2012	21/09/2012	Dutch	PDF
Abridged model	31/12/2011	04/06/2012	10/07/2012	Dutch	PDF
Abridged model	31/12/2010	27/06/2011	19/07/2011	Dutch	PDF
Abridged model	31/12/2009	28/06/2010	12/08/2010	Dutch	PDF
Abridged model	31/12/2008	30/06/2009	27/07/2009	Dutch	PDF
Abridged model	31/12/2007	23/06/2008	11/07/2008	Dutch	PDF
Abridged model	31/12/2006	25/06/2007	11/07/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 k€ and 250 k€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 4 ended

Active mandates

MASY HOLDING

Director · 0689.895.771

Represented by André Masy

Active

Ended mandates

MASY HOLDING

Manager · since 07 février 2018 · 0689.895.771

Ended

ANDRE MASY

Manager

Ended

MASY HOLDING

Director · 0689.895.771

Represented by André Masy

Ended

MASY HOLDING

Director · 0689.895.771

Represented by André MASY

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates30/01/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - BENAMING - DIVERSEN - DOEL - ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING
PDF
Mandates22/06/2018
ONTSLAGEN - BENOEMINGEN
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 20255,8 k €↓
2024
Annual accounts 202419,1 k €↑
2023
Annual accounts 202318,8 k €↓
2023
Name changeMASY PHARMA
2022
Annual accounts 202245,1 k €↑
2021
Annual accounts 202117,6 k €↓
2021
Name changeMasy apotheek
2020
Annual accounts 202035,7 k €↑
2019
Annual accounts 2019-9,2 k €↓
2018
Annual accounts 2018-2,2 k €↓
2017
Annual accounts 201782,6 k €↑
2016
Annual accounts 201640,5 k €↓
2015
Annual accounts 201559 k €↓
2014
Annual accounts 201481,9 k €↓
2013
Annual accounts 201386,8 k €↑
2012
Annual accounts 201247,2 k €↑
2011
Annual accounts 2011-1,2 k €↓
2010
Annual accounts 20101,3 k €↑
2009
Annual accounts 2009-570,4 €↓
2008
Annual accounts 200812,4 k €↑
2007
Annual accounts 20072,7 k €↓
2006
Annual accounts 200633,2 k €
17/12/1986
IncorporationPrivate limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

Masy Pharma

Overview

What does Masy Pharma do?

Trend over 20 financial years

Indicative valuation

Board of directors

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline