NORMAL SITUATION

MASTERFILTER

Financial year 2024 · closed on 31/12/2024
Net result
584,8 k €
+47.7% YoY
Gross margin
854,9 k €
+42.6% YoY
Equity
966,5 k €
-25.6% YoY
Workforce
1,6 ETP
+33.3% YoY

Company — Normal situation.

What does MASTERFILTER do?

MASTERFILTER is a company registered in Belgium. It employs on average 1,6 ETP workers (FTE).

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0454.859.922
Legal form
Public limited company
Contributed capital
61 500,00 €
Latest accounts
31/12/2024
Average workforce
1,6 ETP
Signals
ProfitableSolid equityGood liquidityPositive cashflowPositive EBITDAHealthy social debts
Health score
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Recommended credit limit
✦ Verdict · Analyst summary
Financials

Trend over 19 financial years

2024202320222021202020192018201720162015201420132012201120102009200820072006
Income statement
Gross margin854,9 k €599,7 k €435,8 k €312,5 k €164,7 k €122,2 k €123,6 k €122,8 k €106,9 k €66,2 k €31,9 k €-19,5 k €21,5 k €21,6 k €23,8 k €6,7 k €49,3 k €35,4 k €91,6 k €
EBITDA734 k €510,9 k €373,5 k €195,3 k €74,3 k €107,9 k €122,8 k €121,4 k €105,4 k €64,8 k €30,5 k €-20,9 k €19,7 k €19,9 k €19,3 k €5,1 k €48,2 k €31 k €88,6 k €
Operating result731,5 k €506,8 k €369,8 k €191,8 k €66,9 k €104,5 k €122,8 k €121,4 k €105,4 k €62,8 k €14,9 k €-22,9 k €19,7 k €19,9 k €19,3 k €5,1 k €48,2 k €31 k €88,6 k €
Net result584,8 k €395,9 k €257,2 k €145,4 k €28,7 k €73,1 k €93,6 k €79 k €72,1 k €59,4 k €13,4 k €-24,4 k €14,9 k €13,6 k €13,5 k €9,2 k €32 k €26,8 k €63,1 k €
Balance sheet
Equity966,5 k €1,3 M €903,5 k €646,3 k €500,9 k €472,1 k €399,1 k €305,4 k €536 k €463,9 k €404,5 k €391 k €449,8 k €434,9 k €421,3 k €407,8 k €398,6 k €366,6 k €440,3 k €
Total assets1,3 M €1,6 M €1,2 M €893,3 k €1,2 M €1 M €924 k €713,5 k €642,4 k €502,8 k €430,6 k €476,1 k €525,6 k €527,1 k €502 k €480,1 k €526,2 k €497,6 k €473,8 k €
Cash278,2 k €413,4 k €319,4 k €169,4 k €223,4 k €206 k €144,8 k €265,3 k €215,1 k €86,2 k €83,6 k €153 k €215,3 k €234,2 k €237,6 k €264,9 k €69 k €133,7 k €118,5 k €
Debts293 k €328,4 k €244,5 k €218,8 k €715,8 k €519,8 k €519 k €405,1 k €100,5 k €35,9 k €23,2 k €75,6 k €69 k €78,1 k €67,1 k €65,8 k €79,6 k €122,9 k €27,6 k €
Other
Workforce1,6 ETP1,2 ETP1,1 ETP1,8 ETP1,5 ETP1,0 ETP
Governance

Board of directors

Seen on filing of 31/12/2024 · 4 active · 14 ended

Active mandates

Alex Bongaerts

Director · since 03 mars 2025

Active
Hendrik Timmermans

Director · since 03 mars 2025

Active
Luc Aeyels

Managing director · since 27 mars 2023 · until 03 mars 2025

Active
VT AVIATION SERVICES

Managing director · since 27 mars 2023 · until 03 mars 2025 · 0478.472.096

Represented by Veerle Vrancken

Active

Ended mandates

Luc Aeyels

Managing director · since 19 mai 2023 · until 03 juin 2028

Ended
VT AVIATION SERVICES

Managing director · since 19 mai 2023 · until 03 juin 2028 · 0478.472.096

Represented by Veerle Vrancken

Ended
Luc Aeyels

Managing director · since 27 mars 2023 · until 02 juin 2029

Ended
VT AVIATION SERVICES

Managing director · since 27 mars 2023 · until 02 juin 2029 · 0478.472.096

Represented by Veerle Vrancken

Ended
Annual accounts

Full financial information

202420232022202120202019
Type of accountAbridged modelAbridged modelAbridged modelAbridged modelAbridged modelAbridged model
Start of the financial year01/01/202401/01/202301/01/202201/01/202101/01/202001/01/2019
Closing of the financial year31/12/202431/12/202331/12/202231/12/202131/12/202031/12/2019
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date13/05/202531/07/202428/07/202325/08/202225/06/202103/09/2020
General meeting14/02/202501/06/202403/06/202304/06/202205/06/202124/08/2020
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

29 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Abridged modelCorrection31/12/202414/02/202513/05/2025DutchPDF
Abridged model31/12/202414/02/202530/04/2025DutchPDF
Abridged model31/12/202301/06/202431/07/2024DutchPDF
Abridged model31/12/202203/06/202328/07/2023DutchPDF
Abridged model31/12/202104/06/202225/08/2022DutchPDF
Abridged model31/12/202005/06/202125/06/2021DutchPDF
Abridged model31/12/201924/08/202003/09/2020DutchPDF
Abridged model31/12/201801/06/201913/06/2019DutchPDF
Abridged model31/12/201702/06/201812/06/2018DutchPDF
Abridged model31/12/201603/06/201730/06/2017DutchPDF
Abridged model31/12/201504/06/201617/06/2016DutchPDF
Abridged model31/12/201406/06/201508/06/2015DutchPDF
Abridged model31/12/201307/06/201411/06/2014DutchPDF
Abridged model31/12/201201/06/201310/06/2013DutchPDF
Abridged model31/12/201102/06/201204/06/2012DutchPDF
Abridged model31/12/201004/06/201106/06/2011DutchPDF
Abridged model31/12/200905/06/201007/06/2010DutchPDF
Abridged model31/12/200806/06/200908/06/2009DutchPDF
Abridged model31/12/200707/06/200809/06/2008DutchPDF
Abridged model31/12/200602/06/200704/06/2007DutchPDF
Abridged model31/12/200503/06/200606/06/2006DutchPDF
Abridged model31/12/200404/06/200520/06/2005DutchPDF
Abridged model31/12/200305/06/200411/06/2004DutchPDF
Abridged model31/12/200207/06/200318/06/2003DutchPDF

View all 29 filings

Estimate

Indicative valuation

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 31/12/2024 · 4 active · 14 ended

Active mandates

Alex Bongaerts

Director · since 03 mars 2025

Active
Hendrik Timmermans

Director · since 03 mars 2025

Active
Luc Aeyels

Managing director · since 27 mars 2023 · until 03 mars 2025

Active
VT AVIATION SERVICES

Managing director · since 27 mars 2023 · until 03 mars 2025 · 0478.472.096

Represented by Veerle Vrancken

Active

Ended mandates

Luc Aeyels

Managing director · since 19 mai 2023 · until 03 juin 2028

Ended
VT AVIATION SERVICES

Managing director · since 19 mai 2023 · until 03 juin 2028 · 0478.472.096

Represented by Veerle Vrancken

Ended
Luc Aeyels

Managing director · since 27 mars 2023 · until 02 juin 2029

Ended
VT AVIATION SERVICES

Managing director · since 27 mars 2023 · until 02 juin 2029 · 0478.472.096

Represented by Veerle Vrancken

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Restructuring08/08/2025
    FUSIE DOOR OVERNEMING - ALGEMENE VERGADERING VAN DE OVER-
    PDF
  • Other04/06/2025
    VERKLARING VAN "ENIG AANDEELHOUDERSCHAP"/BIJZONDERE
    PDF
  • Restructuring28/05/2025
    FUSIEVOORSTEL d.d. 7/5/2025
    PDF
  • Mandates14/03/2025
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Restructuring05/12/2024
    KAPITAAL - AANDELEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...) - DIVERSEN
    PDF
  • Restructuring12/06/2024
    RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
    PDF
  • Mandates23/05/2023
    STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …) - BENAMING - DOEL - ONTSLAGEN - BENOEMINGEN
    PDF
  • Registered office07/06/2022
    MAATSCHAPPELIJKE ZETEL
    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. 2024
    Annual accounts 2024584,8 k €
  2. 2023
    Annual accounts 2023395,9 k €
  3. 2022
    Annual accounts 2022257,2 k €
  4. 2022
    Name changeMASTERFILTER
  5. 2021
    Annual accounts 2021145,4 k €
  6. 2021
    Name changeD-UNIT
  7. 2020
    Annual accounts 202028,7 k €
  8. 2019
    Annual accounts 201973,1 k €
  9. 2018
    Annual accounts 201893,6 k €
  10. 2017
    Annual accounts 201779 k €
  11. 2016
    Annual accounts 201672,1 k €
  12. 2015
    Annual accounts 201559,4 k €
  13. 2014
    Annual accounts 201413,4 k €
  14. 2013
    Annual accounts 2013-24,4 k €
  15. 2012
    Annual accounts 201214,9 k €
  16. 2011
    Annual accounts 201113,6 k €
  17. 2010
    Annual accounts 201013,5 k €
  18. 2009
    Annual accounts 20099,2 k €
  19. 2008
    Annual accounts 200832 k €
  20. 2007
    Annual accounts 200726,8 k €
  21. 2006
    Annual accounts 200663,1 k €