ACTIVE

MAASH

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Financial year 2025 · closed on 31/12/2025
Net result
-390,6 k €
-45.5% YoY
Gross margin
71,3 k €
-49.4% YoY
Equity
14,1 M €
-31.9% YoY
Workforce
5,0 ETP
+22.0% YoY

What does MAASH do?

MAASH is a Public limited company incorporated in 2021. Its main activity is: Manufacture of other food products n.e.c.. Its registered office is in Anderlecht. It employs on average 5,0 ETP workers (FTE).

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0774.786.708
Incorporation
29/09/2021
Legal form
Public limited company
Registered office
Allée de la Recherche 4
1070 Anderlecht · BruxellesSee on map
Contributed capital
4 261 580,00 €
Latest accounts
31/12/2025
Average workforce
5,0 ETP
Activities (NACE)
10890Manufacture of other food products n.e.c.· main10890Manufacture of other food products n.e.c.72109Research and experimental development on natural sciences and engineering72190Other research and experimental development on natural sciences and engineering10910Manufacture of prepared feeds for farm animals10910Manufacture of prepared feeds for farm animals+6
Joint committees (1)
  • 2200
Signals
Solid equityHealthy social debts
View the BCE/KBO Public Search record →
Health score
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✦ Verdict · Analyst summary
Financials

Trend over 4 financial years

2025202420232022
Income statement
Gross margin71,3 k €141,0 k €-6,4 k €34,5 k €
EBITDA-267,0 k €-161,8 k €-103,9 k €33,5 k €
Operating result-387,8 k €-243,2 k €-116,4 k €32,7 k €
Net result-390,6 k €-268,5 k €-117,3 k €32,6 k €
Balance sheet
Equity14,1 M €20,7 M €176,8 k €294,1 k €
Total assets14,2 M €20,8 M €495,1 k €300,0 k €
Cash43,5 k €458,4 k €14,0 k €283,1 k €
Debts70,1 k €68,9 k €317,5 k €5,8 k €
Other
Workforce5,0 ETP4,1 ETP3,0 ETP–
Estimate

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€
See the valuation
Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 3 ended

Active mandates

Benoît Deckers

Director · since 16 janvier 2024 · until 12 juin 2029

Active
Frédéric Van Gansberghe

Managing director · since 29 septembre 2021 · until 08 juin 2027

Active
Maria Gomez Urgoiti

Director · since 29 septembre 2021 · until 08 juin 2027

Active
PALOMA VAN GANSBERGHE

Director · since 29 septembre 2021 · until 08 juin 2027

Active

Ended mandates

Frédéric VAN GANSBERGHE

Managing director · since 28 septembre 2021 · until 08 juin 2027

Ended
Maria GOMEZ URGOITI

Director · since 28 septembre 2021 · until 08 juin 2027

Ended
Paloma VAN GANSBERGHE

Director · since 28 septembre 2021 · until 08 juin 2027

Ended
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Annual accounts

Full financial information

2025202420232022
Type of accountAbridged modelAbridged modelAbridged modelAbridged model
Start of the financial year01/01/202501/01/202401/01/202329/09/2021
Closing of the financial year31/12/202531/12/202431/12/202331/12/2022
Length of the financial year12 months12 months12 months16 months
Filing date07/06/202610/07/202528/06/202423/06/2023
General meeting04/05/202630/06/202511/06/202415/06/2023
Currency of the financial yearEUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

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Filings

Annual accounts filings

4 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Abridged model31/12/202504/05/202607/06/2026FrenchPDF
Abridged model31/12/202430/06/202510/07/2025FrenchPDF
Abridged model31/12/202311/06/202428/06/2024FrenchPDF
Abridged model31/12/202215/06/202323/06/2023FrenchPDF
Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 10 M€ and 25 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 · 4 active · 3 ended

Active mandates

Benoît Deckers

Director · since 16 janvier 2024 · until 12 juin 2029

Active
Frédéric Van Gansberghe

Managing director · since 29 septembre 2021 · until 08 juin 2027

Active
Maria Gomez Urgoiti

Director · since 29 septembre 2021 · until 08 juin 2027

Active
PALOMA VAN GANSBERGHE

Director · since 29 septembre 2021 · until 08 juin 2027

Active

Ended mandates

Frédéric VAN GANSBERGHE

Managing director · since 28 septembre 2021 · until 08 juin 2027

Ended
Maria GOMEZ URGOITI

Director · since 28 septembre 2021 · until 08 juin 2027

Ended
Paloma VAN GANSBERGHE

Director · since 28 septembre 2021 · until 08 juin 2027

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Mandates12/06/2026
    STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …) - CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS
    PDF
  • Capital / shares12/08/2024
    STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …) - CAPITAL, ACTIONS
    PDF
  • Mandates05/02/2024
    CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS
    PDF
  • Capital / shares25/04/2023
    CAPITAL, ACTIONS - DIVERS
    PDF
  • Capital / shares04/10/2022
    STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …) - CAPITAL, ACTIONS
    PDF
  • Other01/10/2021
    RUBRIQUE CONSTITUTION (NOUVELLE PERSONNE MORALE, OUVERTURE SUCCURSALE, ETC...)
    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 2025-390,6 k €↓
  2. 2024
    Annual accounts 2024-268,5 k €↓
  3. 2023
    Annual accounts 2023-117,3 k €↓
  4. 2022
    Annual accounts 202232,6 k €
  5. 29/09/2021
    IncorporationPublic limited company