ACTIVE

MASITI

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Financial year 2025 · closed on 31/03/2025

Net result

-20,5 k €

+73.8% YoY

Gross margin

347,2 k €

+1574.4% YoY

Equity

3,8 M €

-0.6% YoY

What does MASITI do?

MASITI is a Private limited company incorporated in 2003. Its main activity is: Management consultancy activities. Its registered office is in Gent.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0479.826.039

Incorporation

21/03/2003

Legal form

Private limited company

Registered office

Galjoenstraat 12 box 5.01
9000 Gent · FlandreSee on map

Contributed capital

601 642,50 €

Latest accounts

31/03/2025

Activities (NACE)

70200Management consultancy activities· main 70220Business and other management consultancy activities 74142Specialised design activities 64200Activities of holding companies 64210Activities of holding companies 68201Rental and operating of own or leased real estate+1

Signals

Solid equityLow riskPositive cashflowPositive EBITDAHealthy social debts

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 17 financial years

	2025		2024		2023		2022		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	347,2 k €	+1574%	20,7 k €	-81.5%	111,8 k €	-40.7%	188,6 k €	-8.6%	206,5 k €	-63.7%	569 k €	+152%	225,5 k €	+19.7%	188,4 k €	+128%	82,5 k €	-83.5%	500,6 k €	-64.3%	1,4 M €	+633%	191,5 k €	+137%	80,8 k €	-72.8%	297 k €	+2.0%	291 k €	-25.3%	389,8 k €	+101%	193,7 k €
EBITDA	180,3 k €	+1352%	12,4 k €	+108%	-146,2 k €	-180%	182,8 k €	-9.2%	201,2 k €	-64.2%	561,6 k €	+156%	219,3 k €	+21.6%	180,4 k €	+145%	73,5 k €	-85.1%	492,4 k €	-64.8%	1,4 M €	+647%	187 k €	+159%	72,3 k €	-73.3%	271,4 k €	-4.3%	283,6 k €	-22.4%	365,6 k €	+91.4%	191 k €
Operating result	74,5 k €	+177%	-96,6 k €	+61.2%	-248,9 k €	-2079%	12,6 k €	-85.4%	86,1 k €	-83.5%	522,6 k €	+319%	124,8 k €	+52.9%	81,6 k €	+1788%	-4,8 k €	-101%	422,9 k €	-68.8%	1,4 M €	+1558%	81,7 k €	+732%	-12,9 k €	-106%	215,8 k €	-10.0%	239,7 k €	-27.2%	329,5 k €	+88.9%	174,4 k €
Net result	-20,5 k €	+73.8%	-78,4 k €	+41.5%	-133,9 k €	-173%	184,6 k €	+207%	-172,2 k €	-137%	460 k €	+63.9%	280,7 k €	-75.3%	1,1 M €	+642%	153,5 k €	-38.9%	251,2 k €	-71.7%	889 k €	+1086%	74,9 k €	-19.4%	92,9 k €	-20.6%	117,1 k €	-30.4%	168,1 k €	-27.8%	232,9 k €	+72.1%	135,3 k €
Balance sheet
Equity	3,8 M €	-0.6%	3,8 M €	-11.1%	4,3 M €	-3.3%	4,5 M €	+6.6%	4,2 M €	-4.0%	4,4 M €	-24.7%	5,8 M €	+5.1%	5,5 M €	+26.0%	4,4 M €	+151%	1,7 M €	+16.8%	1,5 M €	+148%	602,2 k €	-31.4%	877,3 k €	+11.8%	784,4 k €	+17.2%	669,5 k €	+33.0%	503,5 k €	+84.5%	272,9 k €
Total assets	6,1 M €	+0.0%	6,1 M €	+1.6%	6 M €	+4.2%	5,8 M €	+17.1%	4,9 M €	+0.0%	4,9 M €	-24.2%	6,5 M €	-0.4%	6,5 M €	+7.4%	6,1 M €	+59.2%	3,8 M €	+20.8%	3,2 M €	+160%	1,2 M €	+26.2%	964,4 k €	+15.5%	834,8 k €	+1.2%	824,7 k €	-4.8%	865,9 k €	+120%	394,5 k €
Cash	81,6 k €	+67.4%	48,8 k €	-90.8%	529,6 k €	+26.6%	418,3 k €	-47.2%	792,5 k €	+2.9%	770,4 k €	+138%	323,4 k €	-49.5%	639,9 k €	+235%	191,2 k €	+644%	25,7 k €	-95.5%	566,9 k €	+1198%	43,7 k €	+143%	18 k €	-64.0%	50 k €	+152%	19,9 k €	+1005%	1,8 k €	-99.3%	245,3 k €
Debts	2,2 M €	-0.7%	2,2 M €	+30.4%	1,7 M €	+28.9%	1,3 M €	+76.4%	739,9 k €	+39.1%	531,8 k €	-25.4%	713,2 k €	-30.0%	1 M €	-36.4%	1,6 M €	-18.0%	2 M €	+18.3%	1,7 M €	+173%	605,5 k €	+612%	85 k €	+80.9%	47 k €	-68.5%	149,2 k €	-58.0%	355 k €	+203%	117,3 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/03/2025 · 2 active · 2 ended

Active mandates

LODE WAES

Director · since 14 mars 2003

Active

Mathias Waes

Director

Active

Ended mandates

Lode Waes

Manager · since 14 mars 2003

Ended

Lode Waes

Manager

Ended

At this address

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CIRCULAR● Active	0772.907.876
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CLEAN ENERGY INVEST● Active	0816.804.039
DESTUYVER● Active	0783.632.316

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Abridged model	Abridged model
Start of the financial year	01/04/2024	01/04/2023	01/04/2022	01/04/2021	01/04/2020	01/04/2019
Closing of the financial year	31/03/2025	31/03/2024	31/03/2023	31/03/2022	31/03/2021	31/03/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	31/10/2025	23/10/2024	27/10/2023	28/10/2022	15/10/2021	30/10/2020
General meeting	30/09/2025	30/09/2024	25/10/2023	30/09/2022	12/10/2021	23/10/2020
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
Micro model	31/03/2025	30/09/2025	31/10/2025	Dutch	PDF
Micro model	31/03/2024	30/09/2024	23/10/2024	Dutch	PDF
Micro model	31/03/2023	25/10/2023	27/10/2023	Dutch	PDF
Micro model	31/03/2022	30/09/2022	28/10/2022	Dutch	PDF
Abridged model	31/03/2021	12/10/2021	15/10/2021	Dutch	PDF
Abridged model	31/03/2020	23/10/2020	30/10/2020	Dutch	PDF
Abridged model	31/03/2019	30/09/2019	23/10/2019	Dutch	PDF
Abridged model	31/03/2018	31/08/2018	09/10/2018	Dutch	PDF
Abridged model	31/03/2017	28/09/2017	26/10/2017	Dutch	PDF
Abridged model	31/03/2016	25/10/2016	14/11/2016	Dutch	PDF
Abridged model	31/03/2015	28/08/2015	29/09/2015	Dutch	PDF
Abridged model	31/03/2014	15/09/2014	09/10/2014	Dutch	PDF
Abridged model	31/03/2013	29/10/2013	20/11/2013	Dutch	PDF
Abridged model	31/03/2012	28/09/2012	21/11/2012	Dutch	PDF
Abridged model	31/03/2011	15/12/2011	27/12/2011	Dutch	PDF
Abridged model	31/03/2010	15/12/2010	15/12/2010	Dutch	PDF
Abridged model	31/03/2009	30/10/2009	30/10/2009	Dutch	PDF
Abridged model	31/03/2008	26/01/2009	05/02/2009	Dutch	PDF
Abridged model	31/03/2007	29/01/2008	29/01/2008	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 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 31/03/2025 · 2 active · 2 ended

Active mandates

LODE WAES

Director · since 14 mars 2003

Active

Mathias Waes

Director

Active

Ended mandates

Lode Waes

Manager · since 14 mars 2003

Ended

Lode Waes

Manager

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates22/11/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - BENAMING - DOEL - ONTSLAGEN - BENOEMINGEN
PDF
Mandates25/11/2022
ONTSLAGEN - BENOEMINGEN
PDF
Registered office06/07/2021
MAATSCHAPPELIJKE ZETEL
PDF
Capital / shares29/12/2017
KAPITAAL - AANDELEN
PDF
Capital / shares27/11/2014
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Other31/03/2003
RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, ENZ...)
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 2025-20,5 k €↑
2024
Annual accounts 2024-78,4 k €↑
2023
Annual accounts 2023-133,9 k €↓
2023
Name changeMasiti
2022
Annual accounts 2022184,6 k €↑
2022
Name changeLode Waes
2019
Annual accounts 2019-172,2 k €↓
2018
Annual accounts 2018460 k €↑
2017
Annual accounts 2017280,7 k €↓
2016
Annual accounts 20161,1 M €↑
2015
Annual accounts 2015153,5 k €↓
2014
Annual accounts 2014251,2 k €↓
2013
Annual accounts 2013889 k €↑
2012
Annual accounts 201274,9 k €↓
2011
Annual accounts 201192,9 k €↓
2010
Annual accounts 2010117,1 k €↓
2009
Annual accounts 2009168,1 k €↓
2008
Annual accounts 2008232,9 k €↑
2007
Annual accounts 2007135,3 k €
21/03/2003
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

MASITI

Overview

What does MASITI do?

Trend over 17 financial years

Indicative valuation

Board of directors

Other companies at this address

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