ACTIVE

MST ESTATE

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Financial year 2025 · closed on 30/09/2025
Net result
-19,5 k €
-361.7% YoY
Gross margin
250,8 k €
-4.6% YoY
Equity
1,6 M €
-1.2% YoY
Workforce
0,0 ETP

What does MST ESTATE do?

MST ESTATE is a Public limited company incorporated in 1988. Its main activity is: Rental and operating of own or leased real estate. Its registered office is in Sint-Martens-Latem.

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0434.244.056
Incorporation
11/05/1988
Legal form
Public limited company
Registered office
Pontstraat 39
9831 Sint-Martens-Latem · FlandreSee on map
Contributed capital
1 030 420,16 €
Latest accounts
30/09/2025
Average workforce
0,0 ETP
Activities (NACE)
68201Rental and operating of own or leased real estate· main68201Rental and operating of own or leased real estate64929Other credit granting64929Other credit granting68203Rental and operating of own or leased real estate68203Rental and operating of own or leased real estate+7
Joint committees (3)
  • 10602
  • 200
  • 218
Signals
Solid equityPositive cashflowPositive EBITDA
View the BCE/KBO Public Search record →
Health score
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✦ Verdict · Analyst summary
Financials

Trend over 19 financial years

2025202420232022202120202019201820172016201520142013201220102009200820072006
Income statement
Gross margin250,8 k €263 k €203,9 k €-51,2 k €12,4 k €1,2 M €610,4 k €780,7 k €559,5 k €587,6 k €506,2 k €520,7 k €500,4 k €723 k €-27,5 k €-62,7 k €-88,5 k €-89,3 k €–
EBITDA245,9 k €257,1 k €196,9 k €-56 k €-2 k €1,2 M €318,7 k €244,6 k €237,8 k €282,6 k €195,5 k €239,9 k €171 k €187,8 k €-35,6 k €-70,2 k €-94,8 k €-97,8 k €56,3 k €
Operating result14,9 k €41,1 k €-55,2 k €-296,6 k €-163,4 k €1 M €110,1 k €74,9 k €77,5 k €120,4 k €34,3 k €80,9 k €-12 k €-77,8 k €-175,5 k €-210,1 k €-232 k €-244,4 k €-86,7 k €
Net result-19,5 k €7,5 k €-101,3 k €-300,7 k €-148,6 k €917,2 k €32,3 k €1,2 M €49,1 k €73 k €-118,2 k €-60,5 k €-126,5 k €-229,9 k €-148,3 k €308,9 k €-90,4 k €-173,8 k €119,2 k €
Balance sheet
Equity1,6 M €1,6 M €1,6 M €1,7 M €2 M €2,2 M €11,1 M €11 M €9,9 M €9,8 M €9,7 M €9,9 M €6,9 M €7 M €5,7 M €5,9 M €5,6 M €5,7 M €5,8 M €
Total assets3,9 M €4,1 M €3,9 M €4,7 M €3 M €3,2 M €14,8 M €16,7 M €17,1 M €17,8 M €17,1 M €14,1 M €12,5 M €12,8 M €10,7 M €11,9 M €10,5 M €6,9 M €6,8 M €
Cash43,1 k €57,2 k €15,2 k €81,6 k €39,8 k €16,7 k €1,2 M €3,8 M €317,9 k €135 €–1 k €–23,1 k €–3,1 k €24 k €9,8 k €81,9 k €
Debts2,3 M €2,5 M €2,2 M €3 M €1 M €987,7 k €3,8 M €5,7 M €7,2 M €8 M €7,3 M €4,3 M €5,6 M €5,8 M €5 M €6 M €4,9 M €1,2 M €961,7 k €
Other
Workforce0,0 ETP0,0 ETP0,0 ETP––2,2 ETP3,9 ETP4,3 ETP5,4 ETP4,8 ETP5,1 ETP4,5 ETP5,6 ETP6,0 ETP–––––
Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€
See the valuation
Governance

Board of directors

Seen on filing of 30/09/2025 · 2 active · 16 ended

Active mandates

Marie-France Stadsbader

Managing director · since 29 mai 2023 · until 26 mars 2027

Active
Dimitri Vermeersch

Managing director · since 01 septembre 2022 · until 26 mars 2027

Active

Ended mandates

Dimitri Vermeersch

Managing director · since 01 septembre 2022 · until 17 décembre 2027

Ended
DIMVER

Managing director · since 01 janvier 2021 · until 01 septembre 2022 · 0466.570.097

Represented by Dimitri Vermeersch

Ended
DIMVER

Managing director · since 01 janvier 2021 · until 01 septembre 2022 · 0466.570.097

Represented by Dimitri VERMEERSCH

Ended
Francoise Tanghe

Managing director · since 29 mai 2017 · until 31 décembre 2021

Ended
At this address

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Groep MST● Active
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JGJ INVEST● Active
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Leiezicht● Active
0656.880.832
Marie Stadsbader● Active
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SDE INVEST● Active
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SEA PORT RESIDENTIES● Active
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Stichting administratiekantoor PADIVER● Active
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Annual accounts

Full financial information

202520242023202220212020
Type of accountAbridged modelAbridged modelAbridged modelAbridged modelAbridged modelAbridged model
Start of the financial year01/10/202401/10/202301/07/202201/07/202101/07/202001/07/2019
Closing of the financial year30/09/202530/09/202430/09/202330/06/202230/06/202130/06/2020
Length of the financial year12 months12 months15 months12 months12 months12 months
Filing date24/04/202607/04/202511/04/202420/12/202223/12/202129/01/2021
General meeting27/03/202628/03/202529/03/202416/12/202217/12/202118/12/2020
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

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Filings

Annual accounts filings

19 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Abridged model30/09/202527/03/202624/04/2026DutchPDF
Abridged model30/09/202428/03/202507/04/2025DutchPDF
Abridged model30/09/202329/03/202411/04/2024DutchPDF
Abridged model30/06/202216/12/202220/12/2022DutchPDF
Abridged model30/06/202117/12/202123/12/2021DutchPDF
Abridged model30/06/202018/12/202029/01/2021DutchPDF
Abridged model30/06/201920/12/201917/01/2020DutchPDF
Abridged model30/06/201821/12/201822/01/2019DutchPDF
Abridged model30/06/201715/12/201717/01/2018DutchPDF
Abridged model30/06/201616/12/201616/01/2017DutchPDF
Abridged model30/06/201518/12/201515/01/2016DutchPDF
Abridged model30/06/201419/12/201416/01/2015DutchPDF
Abridged model30/06/201320/12/201323/01/2014DutchPDF
Abridged model30/06/201221/12/201215/01/2013DutchPDF
Abridged model31/12/201017/06/201115/07/2011DutchPDF
Abridged model31/12/200918/06/201020/07/2010DutchPDF
Abridged model31/12/200819/06/200930/07/2009DutchPDF
Abridged model31/12/200720/06/200824/07/2008DutchPDF
Full model31/12/200615/06/200727/07/2007DutchPDF
Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 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 30/09/2025 · 2 active · 16 ended

Active mandates

Marie-France Stadsbader

Managing director · since 29 mai 2023 · until 26 mars 2027

Active
Dimitri Vermeersch

Managing director · since 01 septembre 2022 · until 26 mars 2027

Active

Ended mandates

Dimitri Vermeersch

Managing director · since 01 septembre 2022 · until 17 décembre 2027

Ended
DIMVER

Managing director · since 01 janvier 2021 · until 01 septembre 2022 · 0466.570.097

Represented by Dimitri Vermeersch

Ended
DIMVER

Managing director · since 01 janvier 2021 · until 01 septembre 2022 · 0466.570.097

Represented by Dimitri VERMEERSCH

Ended
Francoise Tanghe

Managing director · since 29 mai 2017 · until 31 décembre 2021

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Mandates27/05/2024
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Other27/06/2023
    ALGEMENE VERGADERING
    PDF
  • Mandates21/10/2022
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates09/03/2022
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Restructuring22/01/2020
    BENAMING - MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …) - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
    PDF
  • Restructuring25/11/2019
    RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
    PDF
  • Mandates25/07/2017
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Other29/07/2015
    DOEL
    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

Timeline

  1. 2025
    Annual accounts 2025-19,5 k €↓
  2. 2024
    Annual accounts 20247,5 k €↑
  3. 2023
    Annual accounts 2023-101,3 k €↑
  4. 2022
    Annual accounts 2022-300,7 k €↓
  5. 2021
    Annual accounts 2021-148,6 k €↓
  6. 2020
    Annual accounts 2020917,2 k €↑
  7. 2019
    Annual accounts 201932,3 k €↓
  8. 2018
    Annual accounts 20181,2 M €↑
  9. 2017
    Annual accounts 201749,1 k €↓
  10. 2016
    Annual accounts 201673 k €↑
  11. 2015
    Annual accounts 2015-118,2 k €↓
  12. 2014
    Annual accounts 2014-60,5 k €↑
  13. 2013
    Annual accounts 2013-126,5 k €↑
  14. 2012
    Annual accounts 2012-229,9 k €↓
  15. 2010
    Annual accounts 2010-148,3 k €↓
  16. 2009
    Annual accounts 2009308,9 k €↑
  17. 2008
    Annual accounts 2008-90,4 k €↑
  18. 2007
    Annual accounts 2007-173,8 k €↓
  19. 2006
    Annual accounts 2006119,2 k €
  20. 11/05/1988
    IncorporationPublic limited company