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MaSa Management

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Financial year 2025 · closed on 30/06/2025

Net result

-18,5 k €

-122.9% YoY

Gross margin

20,3 k €

-85.2% YoY

Equity

796,4 k €

-2.3% YoY

What does MaSa Management do?

MaSa Management is a Private limited company incorporated in 1994. Its main activity is: Computer programming activities. Its registered office is in Boortmeerbeek.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0453.051.366

Incorporation

15/07/1994

Legal form

Private limited company

Registered office

Paepestraat 42
3190 Boortmeerbeek · FlandreSee on map

Contributed capital

18 550,00 €

Latest accounts

30/06/2025

Activities (NACE)

62010Computer programming activities· main 62100Computer programming, consultancy and related activities 72220Research and experimental development on social sciences and humanities 73110Advertising agencies 73110Advertising agencies 74401Other professional, scientific and technical activities

Signals

Solid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	20,3 k €	-85.2%	136,8 k €	+51.4%	90,4 k €	+20.6%	74,9 k €	+10.0%	68,1 k €	-10.2%	75,9 k €	+6.5%	71,2 k €	+15.1%	61,9 k €	-9.7%	68,6 k €	-45.7%	126,3 k €	+16.7%	108,2 k €	-7.4%	116,9 k €	-9.6%	129,3 k €	+34.8%	95,9 k €	+313%	23,2 k €	-60.6%	59 k €	-38.0%	95,2 k €	-2.0%	97,2 k €	-14.1%	113,2 k €
EBITDA	18,3 k €	-86.4%	134,7 k €	+49.1%	90,4 k €	+26.0%	71,7 k €	+7.6%	66,6 k €	-10.5%	74,4 k €	+6.6%	69,8 k €	+15.7%	60,4 k €	-9.7%	66,8 k €	-45.4%	122,3 k €	+15.3%	106 k €	-6.7%	113,7 k €	-9.9%	126,1 k €	+36.9%	92,1 k €	+333%	21,3 k €	-60.5%	53,8 k €	-43.0%	94,4 k €	-0.7%	95 k €	-14.4%	111 k €
Operating result	-20,3 k €	-119%	108,4 k €	+36.3%	79,5 k €	+50.2%	53 k €	+7.9%	49,1 k €	-13.8%	56,9 k €	+8.9%	52,2 k €	+17.7%	44,4 k €	-23.4%	57,9 k €	-46.9%	109,1 k €	+18.5%	92,1 k €	-7.3%	99,3 k €	-10.5%	111 k €	+42.6%	77,8 k €	+558%	11,8 k €	-56.0%	26,9 k €	-59.8%	66,8 k €	-1.5%	67,8 k €	-19.5%	84,3 k €
Net result	-18,5 k €	-123%	80,7 k €	+30.2%	61,9 k €	+45.7%	42,5 k €	+7.9%	39,4 k €	-25.8%	53,1 k €	+10.4%	48,1 k €	+24.0%	38,8 k €	-25.4%	52 k €	-39.0%	85,2 k €	+17.9%	72,3 k €	-19.2%	89,5 k €	+5.1%	85,2 k €	+34.4%	63,4 k €	+2943%	2,1 k €	-82.1%	11,7 k €	-67.9%	36,3 k €	-27.2%	49,8 k €	-11.6%	56,3 k €
Balance sheet
Equity	796,4 k €	-2.3%	814,9 k €	+11.0%	734,2 k €	+9.2%	672,2 k €	+6.7%	629,7 k €	+6.7%	590,3 k €	+9.9%	537,2 k €	+9.8%	489,1 k €	+8.6%	450,3 k €	-15.6%	533,7 k €	+19.0%	448,5 k €	+19.2%	376,2 k €	+13.4%	331,7 k €	+15.8%	286,6 k €	+13.2%	253,2 k €	+0.8%	251,1 k €	+5.4%	238,3 k €	+17.9%	202,1 k €	+5.1%	192,3 k €
Total assets	919,4 k €	-5.7%	974,7 k €	+26.6%	769,8 k €	+10.1%	699 k €	+5.4%	663,3 k €	+3.3%	642,2 k €	+5.2%	610,4 k €	+9.7%	556,5 k €	+13.8%	488,8 k €	-17.4%	591,5 k €	+7.6%	549,6 k €	+14.7%	479,3 k €	-0.3%	480,7 k €	+3.8%	463,2 k €	+26.1%	367,3 k €	+0.4%	365,9 k €	-11.9%	415,2 k €	-3.0%	427,9 k €	-2.8%	440,5 k €
Cash	828,4 €	-99.1%	93,1 k €	+661%	12,2 k €	+58.0%	7,7 k €	-4.3%	8,1 k €	+195%	2,7 k €	+432%	516,8 €	-30.2%	740,9 €	-31.1%	1,1 k €	-25.6%	1,4 k €	-23.5%	1,9 k €	+251%	537,2 €	+480%	92,6 €	+1278%	6,7 €		–		–		4,8 k €	+67.5%	2,9 k €	-88.6%	25,2 k €
Debts	123 k €	-23.1%	159,9 k €	+349%	35,6 k €	+41.6%	25,2 k €	-24.9%	33,5 k €	-35.3%	51,8 k €	-29.2%	73,2 k €	+8.7%	67,3 k €	+75.2%	38,4 k €	-33.4%	57,7 k €	-42.9%	101 k €	-0.7%	101,7 k €	-31.0%	147,5 k €	-15.8%	175,1 k €	+53.4%	114,2 k €	-0.5%	114,8 k €	-35.1%	176,9 k €	-21.7%	225,9 k €	-9.0%	248,2 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Governance

Board of directors

Seen on filing of 30/06/2025 · 2 active · 9 ended

Active mandates

Marc De Graef

Director

Active

Sabine Pevernagie

Director

Active

Ended mandates

Maschell International (tot 2017)

Director · since 22 décembre 2011 · until 22 décembre 2017

Represented by Marc DE GRAEF

Ended

Marc (tot 2010) De Graef

Managing director

Ended

Marc (tot 2016) De Graef

Managing director

Ended

Marc (tot 2017) De Graef

Managing director

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Micro model	Micro model	Micro model
Start of the financial year	01/07/2024	01/07/2023	01/07/2022	01/07/2021	01/07/2020	01/07/2019
Closing of the financial year	30/06/2025	30/06/2024	30/06/2023	30/06/2022	30/06/2021	30/06/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	27/01/2026	07/01/2025	03/01/2024	27/01/2023	20/01/2022	27/01/2021
General meeting	08/12/2025	09/12/2024	11/12/2023	12/12/2022	13/12/2021	14/12/2020
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

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	30/06/2025	08/12/2025	27/01/2026	Dutch	PDF
Abridged model	30/06/2024	09/12/2024	07/01/2025	Dutch	PDF
Abridged model	30/06/2023	11/12/2023	03/01/2024	Dutch	PDF
Micro model	30/06/2022	12/12/2022	27/01/2023	Dutch	PDF
Micro model	30/06/2021	13/12/2021	20/01/2022	Dutch	PDF
Micro model	30/06/2020	14/12/2020	27/01/2021	Dutch	PDF
Micro model	30/06/2019	30/12/2019	30/01/2020	Dutch	PDF
Micro model	30/06/2018	31/12/2018	29/01/2019	Dutch	PDF
Micro model	30/06/2017	29/12/2017	30/01/2018	Dutch	PDF
Abridged model	30/06/2016	27/12/2016	06/02/2017	Dutch	PDF
Abridged model	30/06/2015	30/12/2015	26/01/2016	Dutch	PDF
Abridged model	30/06/2014	31/12/2014	12/01/2015	Dutch	PDF
Abridged model	30/06/2013	30/12/2013	31/01/2014	Dutch	PDF
Abridged model	30/06/2012	10/12/2012	23/01/2013	Dutch	PDF
Abridged model	30/06/2011	12/12/2011	30/12/2011	Dutch	PDF
Abridged model	30/06/2010	13/12/2010	03/01/2011	Dutch	PDF
Abridged model	30/06/2009	14/12/2009	25/01/2010	Dutch	PDF
Abridged model	30/06/2008	08/12/2008	17/02/2009	Dutch	PDF
Abridged model	30/06/2007	10/12/2007	10/01/2008	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 M€

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 30/06/2025 · 2 active · 9 ended

Active mandates

Marc De Graef

Director

Active

Sabine Pevernagie

Director

Active

Ended mandates

Maschell International (tot 2017)

Director · since 22 décembre 2011 · until 22 décembre 2017

Represented by Marc DE GRAEF

Ended

Marc (tot 2010) De Graef

Managing director

Ended

Marc (tot 2016) De Graef

Managing director

Ended

Marc (tot 2017) De Graef

Managing director

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates04/12/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - DOEL - ONTSLAGEN - BENOEMINGEN
PDF
Mandates04/07/2017
ONTSLAGEN - BENOEMINGEN - WIJZIGING RECHTSVORM
PDF
Mandates10/01/2012
KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates19/10/2004
WIJZIGING RECHTSVORM - BENAMING - KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Registered office30/01/2003
SIEGE SOCIAL
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 2025-18,5 k €↓
2024
Annual accounts 202480,7 k €↑
2023
Annual accounts 202361,9 k €↑
2022
Annual accounts 202242,5 k €↑
2021
Annual accounts 202139,4 k €↓
2020
Annual accounts 202053,1 k €↑
2019
Annual accounts 201948,1 k €↑
2018
Annual accounts 201838,8 k €↓
2017
Annual accounts 201752 k €↓
2016
Annual accounts 201685,2 k €↑
2015
Annual accounts 201572,3 k €↓
2014
Annual accounts 201489,5 k €↑
2013
Annual accounts 201385,2 k €↑
2012
Annual accounts 201263,4 k €↑
2011
Annual accounts 20112,1 k €↓
2010
Annual accounts 201011,7 k €↓
2009
Annual accounts 200936,3 k €↓
2008
Annual accounts 200849,8 k €↓
2007
Annual accounts 200756,3 k €
15/07/1994
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

MaSa Management

Overview

What does MaSa Management do?

Trend over 19 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