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Masset Projects

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Financial year 2025 · closed on 31/12/2025

Net result

47,4 k €

+0.2% YoY

Gross margin

191,8 k €

+6.4% YoY

Equity

246,2 k €

+23.9% YoY

Workforce

0,9 ETP

0.0% YoY

What does Masset Projects do?

Masset Projects is a Private limited company incorporated in 1998. Its main activity is: Development of building projects. Its registered office is in Zandhoven. It employs on average 0,9 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0463.224.884

Incorporation

22/04/1998

Legal form

Private limited company

Registered office

Liersebaan 6/2
2240 Zandhoven · FlandreSee on map

Contributed capital

43 600,00 €

Latest accounts

31/12/2025

Average workforce

0,9 ETP

Activities (NACE)

41101Development of building projects· main 64200Activities of holding companies 64210Activities of holding companies 68121Buying and selling of own real estate 74151Specialised design activities

Joint committees (3)

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	191,8 k €	+6.4%	180,2 k €	+22.2%	147,5 k €	+18.7%	124,3 k €	-31.7%	181,9 k €	+152%	72,2 k €	-36.6%	113,9 k €	+13.5%	100,4 k €	+31.8%	76,1 k €	-29.4%	107,9 k €	+96.1%	55 k €	-51.7%	113,9 k €	-11.0%	127,9 k €	+232%	38,6 k €	-23.5%	50,4 k €	+338%	-21,2 k €	-223%	17,2 k €	-53.0%	36,5 k €	+11.9%	32,6 k €	+144%	13,4 k €
EBITDA	117,8 k €	+10.3%	106,8 k €	+46.5%	72,9 k €	+42.3%	51,3 k €	-52.6%	108,2 k €	+582%	-22,4 k €	-161%	37 k €	-17.4%	44,7 k €	+27.5%	35,1 k €	+159%	-59,8 k €	-284%	32,4 k €	-64.9%	92,4 k €	-16.5%	110,7 k €	+408%	21,8 k €	-55.2%	48,6 k €	+323%	-21,8 k €	-233%	16,4 k €	-54.1%	35,6 k €	+13.4%	31,4 k €	+171%	11,6 k €
Operating result	70,3 k €	+5.1%	66,9 k €	+50.1%	44,5 k €	+20.1%	37,1 k €	-61.1%	95,4 k €	+311%	-45,2 k €	-1660%	2,9 k €	-83.0%	17 k €	+101%	8,5 k €	+109%	-96,2 k €	-3303%	-2,8 k €	-105%	61,5 k €	-10.8%	68,9 k €	+2172%	3 k €	-85.9%	21,5 k €	+156%	-38,4 k €	-443%	11,2 k €	-65.9%	32,8 k €	+44.1%	22,8 k €	+425%	4,3 k €
Net result	47,4 k €	+0.2%	47,3 k €	+37.8%	34,3 k €	-2.1%	35,1 k €	-59.6%	86,9 k €	+266%	-52,5 k €	-1294%	4,4 k €	-67.0%	13,3 k €	+77.6%	7,5 k €	+107%	-102,4 k €	-992%	-9,4 k €	-200%	9,3 k €	-34.2%	14,2 k €	+238%	4,2 k €	-65.7%	12,2 k €	+138%	-32,3 k €	-636%	6 k €	-57.4%	14,1 k €	+59.0%	8,9 k €	-67.3%	27,1 k €
Balance sheet
Equity	246,2 k €	+23.9%	198,7 k €	+31.2%	151,4 k €	+29.3%	117,1 k €	+42.8%	82 k €	+1782%	-4,9 k €	-110%	47,6 k €	+10.2%	43,2 k €	+38.6%	31,2 k €	+2469%	-1,3 k €	-101%	101,1 k €	-8.5%	110,4 k €	+9.2%	101,1 k €	+16.3%	86,9 k €	+5.1%	82,7 k €	+9.6%	75,5 k €	-29.9%	107,8 k €	+5.9%	101,8 k €	+9.8%	92,7 k €	+10.6%	83,8 k €
Total assets	571,9 k €	+9.4%	522,8 k €	-2.2%	534,6 k €	+33.2%	401,2 k €	+1.5%	395,3 k €	-9.6%	437,3 k €	-7.3%	471,7 k €	-7.2%	508,1 k €	-1.5%	515,7 k €	-8.6%	564,3 k €	-18.9%	695,7 k €	-0.6%	700,2 k €	-8.1%	761,8 k €	+20.4%	632,5 k €	+14.6%	551,8 k €	+29.2%	427,2 k €	+48.4%	287,8 k €	+9.2%	263,6 k €	+80.6%	146 k €	-23.6%	190,9 k €
Cash	19,1 k €	-64.1%	53,1 k €	-9.1%	58,4 k €	-3.2%	60,3 k €	+117%	27,7 k €	+1745%	1,5 k €	-89.9%	14,9 k €	+479%	2,6 k €	-95.9%	62,4 k €	+550%	9,6 k €	-2.7%	9,9 k €	+138%	4,1 k €	-23.4%	5,4 k €	-81.1%	28,6 k €	+208%	9,3 k €	+137%	3,9 k €	+307%	961,1 €	-68.7%	3,1 k €	-85.0%	20,4 k €	-21.1%	25,9 k €
Debts	325,7 k €	+0.5%	324 k €	-15.4%	383,1 k €	+34.9%	284,1 k €	-9.3%	313,3 k €	-29.1%	442,2 k €	+4.3%	424,1 k €	-8.8%	464,9 k €	-4.0%	484,5 k €	-14.3%	565,6 k €	-4.9%	594,7 k €	+0.8%	589,7 k €	-10.3%	657,7 k €	+20.5%	545,6 k €	+16.3%	469,1 k €	+33.4%	351,6 k €	+95.3%	180,1 k €	+11.3%	161,9 k €	+209%	52,4 k €	-51.1%	107,1 k €
Other
Workforce	0,9 ETP	0.0%	0,9 ETP	-10.0%	1,0 ETP	-28.6%	1,4 ETP	0.0%	1,4 ETP	-12.5%	1,6 ETP	+6.7%	1,5 ETP	+50.0%	1,0 ETP	+25.0%	0,8 ETP	+100%	0,4 ETP	0.0%	0,4 ETP	0.0%	0,4 ETP	0.0%	0,4 ETP		–		–		–		–		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 250 k€ and 500 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 6 ended

Active mandates

Hilda Nauwelaers

Director · since 28 décembre 2017

Active

Marc Masset

Director · since 14 octobre 2004

Active

Ended mandates

Marc Masset

Administrator - manager · since 14 octobre 2004

Ended

Hilda Nauwelaers

Mandate

Ended

Hilda Nauwelaers

Director

Ended

Hilda Nauwelaers

Manager

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	12/06/2026	23/06/2025	11/06/2024	16/06/2023	24/05/2022	15/06/2021
General meeting	21/05/2026	15/05/2025	16/05/2024	18/05/2023	19/05/2022	20/05/2021
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

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	21/05/2026	12/06/2026	Dutch	PDF
Abridged model	31/12/2024	15/05/2025	23/06/2025	Dutch	PDF
Abridged model	31/12/2023	16/05/2024	11/06/2024	Dutch	PDF
Abridged model	31/12/2022	18/05/2023	16/06/2023	Dutch	PDF
Abridged model	31/12/2021	19/05/2022	24/05/2022	Dutch	PDF
Abridged model	31/12/2020	20/05/2021	15/06/2021	Dutch	PDF
Abridged model	31/12/2019	22/05/2020	23/06/2020	Dutch	PDF
Abridged model	31/12/2018	16/05/2019	13/06/2019	Dutch	PDF
Abridged model	31/12/2017	17/05/2018	24/05/2018	Dutch	PDF
Abridged model	31/12/2016	15/05/2017	01/06/2017	Dutch	PDF
Abridged model	31/12/2015	06/06/2016	11/07/2016	Dutch	PDF
Abridged model	31/12/2014	21/05/2015	18/06/2015	Dutch	PDF
Abridged model	31/12/2013	26/05/2014	02/07/2014	Dutch	PDF
Abridged model	31/12/2012	16/05/2013	05/06/2013	Dutch	PDF
Abridged model	31/12/2011	21/05/2012	01/06/2012	Dutch	PDF
Abridged model	31/12/2010	16/05/2011	17/06/2011	Dutch	PDF
Abridged model	31/12/2009	17/05/2010	02/06/2010	Dutch	PDF
Abridged model	31/12/2008	08/06/2009	03/07/2009	Dutch	PDF
Abridged model	31/12/2007	20/06/2008	16/07/2008	Dutch	PDF
Abridged model	31/12/2006	30/06/2007	31/07/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 250 k€ and 500 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 · 2 active · 6 ended

Active mandates

Hilda Nauwelaers

Director · since 28 décembre 2017

Active

Marc Masset

Director · since 14 octobre 2004

Active

Ended mandates

Marc Masset

Administrator - manager · since 14 octobre 2004

Ended

Hilda Nauwelaers

Mandate

Ended

Hilda Nauwelaers

Director

Ended

Hilda Nauwelaers

Manager

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates24/03/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
PDF
Mandates24/01/2018
KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN
PDF
Other27/01/2011
BVBA: WIJZIGING VAN DE BENAMING - AANPASSING VAN DE STATUTEN
PDF
Capital / shares09/11/2004
DOEL - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - ALGEMENE VERGADERING - KAPITAAL - AANDELEN
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 202547,4 k €↑
2024
Annual accounts 202447,3 k €↑
2023
Annual accounts 202334,3 k €↓
2022
Annual accounts 202235,1 k €↓
2021
Annual accounts 202186,9 k €↑
2020
Annual accounts 2020-52,5 k €↓
2019
Annual accounts 20194,4 k €↓
2018
Annual accounts 201813,3 k €↑
2017
Annual accounts 20177,5 k €↑
2016
Annual accounts 2016-102,4 k €↓
2015
Annual accounts 2015-9,4 k €↓
2014
Annual accounts 20149,3 k €↓
2013
Annual accounts 201314,2 k €↑
2012
Annual accounts 20124,2 k €↓
2011
Annual accounts 201112,2 k €↑
2010
Annual accounts 2010-32,3 k €↓
2009
Annual accounts 20096 k €↓
2008
Annual accounts 200814,1 k €↑
2007
Annual accounts 20078,9 k €↓
2006
Annual accounts 200627,1 k €
22/04/1998
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

Masset Projects

Overview

What does Masset Projects 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