ACTIVE

MASH

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Financial year 2025 · closed on 31/12/2025
Net result
191,2 k €
-13.5% YoY
Gross margin
264,6 k €
-11.8% YoY
Equity
21,6 k €
+5.7% YoY

What does MASH do?

MASH is a Private limited company incorporated in 2014. Its main activity is: Management consultancy activities. Its registered office is in Gent.

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0560.662.275
Incorporation
22/08/2014
Legal form
Private limited company
Registered office
Heiebreestraat 24
9031 Gent · FlandreSee on map
Contributed capital
18 600,00 €
Latest accounts
31/12/2025
Activities (NACE)
70200Management consultancy activities· main70220Business and other management consultancy activities
Signals
ProfitablePositive cashflowPositive EBITDA
View the BCE/KBO Public Search record →
Health score
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✦ Verdict · Analyst summary
Financials

Trend over 11 financial years

20252024202320222021201920182017201620152014
Income statement
Gross margin264,6 k €300 k €300 k €251,6 k €331,4 k €113,9 k €79 k €-17,9 k €332,2 k €150,5 k €42,3 k €
EBITDA263 k €297,8 k €297,9 k €249,6 k €330 k €109,5 k €78,5 k €-18,9 k €331,6 k €150 k €42 k €
Operating result252,9 k €297,4 k €280,4 k €231,7 k €303,6 k €75,1 k €57,8 k €-39,6 k €318,5 k €137,6 k €37,9 k €
Net result191,2 k €221 k €206,5 k €169,5 k €222,6 k €47,1 k €46,8 k €-41,3 k €207,7 k €94,6 k €23,6 k €
Balance sheet
Equity21,6 k €20,5 k €19,4 k €22,9 k €243,4 k €80,2 k €83 k €96,3 k €137,5 k €78,8 k €42,2 k €
Total assets331,5 k €257,6 k €249,3 k €242,4 k €300 k €204,9 k €176,2 k €177,9 k €251,9 k €165,9 k €250,1 k €
Cash204,6 k €223,9 k €212,3 k €196,9 k €234,1 k €87,6 k €134,4 k €119,4 k €185,5 k €104,6 k €25,8 k €
Debts309,9 k €237,1 k €229,8 k €219,5 k €56,5 k €124,8 k €93,2 k €81,6 k €114,4 k €87,1 k €207,8 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 31/12/2025 · 1 active · 6 ended

Active mandates

Hildegard Verhoeven

Director

Active

Ended mandates

Serge Van Herck

Manager · since 30 juin 2017

Ended
Serge VAN HERCK

Manager · since 30 juin 2017 · until 06 septembre 2019

Ended
Hildegard Verhoeven

Director · since 22 août 2014

Ended
Hildegard VERHOEVEN

Manager · since 22 août 2014

Ended
At this address

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Annual accounts

Full financial information

202520242023202220212020
Type of accountAbridged modelAbridged modelAbridged modelAbridged modelAbridged modelAbridged model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/01/2020
Closing of the financial year31/12/202531/12/202431/12/202331/12/202231/12/202131/12/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date09/03/202603/04/202526/03/202431/03/202308/07/202209/07/2021
General meeting11/02/202605/03/202501/03/202415/03/202330/06/202218/06/2021
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

12 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Abridged model31/12/202511/02/202609/03/2026DutchPDF
Abridged model31/12/202405/03/202503/04/2025DutchPDF
Abridged model31/12/202301/03/202426/03/2024DutchPDF
Abridged model31/12/202215/03/202331/03/2023DutchPDF
Abridged model31/12/202130/06/202208/07/2022DutchPDF
Abridged model31/12/202018/06/202109/07/2021DutchPDF
Abridged model31/12/201919/06/202018/07/2020DutchPDF
Abridged model31/12/201821/06/201903/07/2019DutchPDF
Abridged model31/12/201722/06/201803/07/2018DutchPDF
Micro model31/12/201630/06/201731/07/2017DutchPDF
Abridged model31/12/201520/06/201628/06/2016DutchPDF
Abridged model31/12/201419/06/201528/07/2015DutchPDF
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 31/12/2025 · 1 active · 6 ended

Active mandates

Hildegard Verhoeven

Director

Active

Ended mandates

Serge Van Herck

Manager · since 30 juin 2017

Ended
Serge VAN HERCK

Manager · since 30 juin 2017 · until 06 septembre 2019

Ended
Hildegard Verhoeven

Director · since 22 août 2014

Ended
Hildegard VERHOEVEN

Manager · since 22 août 2014

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Mandates18/12/2023
    STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …) - WIJZIGING RECHTSVORM - DOEL - ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates10/10/2019
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates02/08/2017
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Other26/08/2014
    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

Timeline

  1. 2025
    Annual accounts 2025191,2 k €↓
  2. 2024
    Annual accounts 2024221 k €↑
  3. 2023
    Annual accounts 2023206,5 k €↑
  4. 2022
    Annual accounts 2022169,5 k €↓
  5. 2021
    Annual accounts 2021222,6 k €↑
  6. 2019
    Annual accounts 201947,1 k €↑
  7. 2018
    Annual accounts 201846,8 k €↑
  8. 2017
    Annual accounts 2017-41,3 k €↓
  9. 2016
    Annual accounts 2016207,7 k €↑
  10. 2015
    Annual accounts 201594,6 k €↑
  11. 2014
    Annual accounts 201423,6 k €
  12. 22/08/2014
    IncorporationPrivate limited company