ACTIVE

MASTER IMMO

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Financial year 2025 · closed on 31/12/2025
Net result
-54,3 k €
-280.7% YoY
Gross margin
-44,8 k €
-172.1% YoY
Equity
306,8 k €
-15.0% YoY

What does MASTER IMMO do?

MASTER IMMO is a Private limited company incorporated in 2003. Its main activity is: Passenger air transport. Its registered office is in Ixelles.

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0861.062.169
Incorporation
14/10/2003
Legal form
Private limited company
Registered office
Avenue Louise 231
1050 Ixelles · BruxellesSee on map
Contributed capital
20 405,00 €
Latest accounts
31/12/2025
Activities (NACE)
51180Passenger air transport· main68310Real estate agencies68311Real estate agencies46180Agents specialised in the sale of other particular products46180Agents specialised in the sale of other particular products
Signals
Solid equityLow riskGood liquidity
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Health score
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✦ Verdict · Analyst summary
Financials

Trend over 19 financial years

2025202420232022202120202019201820172016201520142013201220112010200920072006
Income statement
Gross margin-44,8 k €62,1 k €115,3 k €71,7 k €76,3 k €162 k €181,6 k €47,8 k €61,7 k €28,9 k €37,6 k €5 k €10,8 k €14,5 k €23,8 k €4,6 k €21,5 k €-17,3 k €-3,2 k €
EBITDA-49,2 k €37,4 k €114,5 k €71 k €75,9 k €161,7 k €181,2 k €47,4 k €57,7 k €26,7 k €36,9 k €4,2 k €10,2 k €11 k €22,6 k €1,5 k €19,5 k €-18,9 k €-6,5 k €
Operating result-51,6 k €35 k €112,1 k €68,6 k €75,5 k €161,4 k €180,6 k €46,8 k €57,1 k €24,3 k €34,3 k €1 k €5,5 k €1,7 k €14,6 k €-4,6 k €14,3 k €-22,3 k €-10,1 k €
Net result-54,3 k €30 k €86,5 k €51,9 k €58,4 k €124,5 k €123,3 k €31 k €30,8 k €14,4 k €29,3 k €115,8 €4,6 k €641,1 €14 k €-5,2 k €14,1 k €-23,3 k €-12,1 k €
Balance sheet
Equity306,8 k €361,1 k €351 k €334,5 k €332,6 k €299,2 k €207,3 k €84,1 k €53,1 k €22,3 k €7,9 k €-21,5 k €-21,6 k €-26,2 k €-26,8 k €-40,8 k €-34,6 k €-10,3 k €13 k €
Total assets309,1 k €398,5 k €430,7 k €394,9 k €380,8 k €355,3 k €249,9 k €130,3 k €102,4 k €84,6 k €38,2 k €6,1 k €10,2 k €17,6 k €43,3 k €26 k €58,1 k €18,1 k €42,5 k €
Cash246 k €188,2 k €258 k €383 k €361,7 k €283,8 k €172,7 k €0 €500,4 €3 €–776,6 €48,4 €34,6 €29,5 k €11,5 k €355 €11,6 k €35,1 k €
Debts2,3 k €37,5 k €79,6 k €60,3 k €48,2 k €56,1 k €42,6 k €46,3 k €49,3 k €62,2 k €28,9 k €27,4 k €31,7 k €43,6 k €70,2 k €66,8 k €92,7 k €28,4 k €29,4 k €
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 · 1 active · 2 ended

Active mandates

Maria-Louisa Ragoen

Manager

Active

Ended mandates

Maria-Louisa (Sacha) RAGOEN

Manager

Ended
Marie-Louisa Ragoen

Manager

Ended
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Annual accounts

Full financial information

202520242023202220212020
Type of accountMicro modelMicro modelMicro modelMicro modelMicro modelMicro 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 date25/07/202616/08/202520/07/202416/08/202323/08/202230/07/2021
General meeting03/06/202603/06/202504/06/202406/06/202307/06/202201/06/2021
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

19 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Micro model31/12/202503/06/202625/07/2026FrenchPDF
Micro model31/12/202403/06/202516/08/2025FrenchPDF
Micro model31/12/202304/06/202420/07/2024FrenchPDF
Micro model31/12/202206/06/202316/08/2023FrenchPDF
Micro model31/12/202107/06/202223/08/2022FrenchPDF
Micro model31/12/202001/06/202130/07/2021FrenchPDF
Micro model31/12/201902/06/202001/07/2020FrenchPDF
Micro model31/12/201804/06/201911/07/2019FrenchPDF
Micro model31/12/201705/06/201804/07/2018FrenchPDF
Micro model31/12/201606/06/201731/07/2017FrenchPDF
Abridged model31/12/201507/06/201608/06/2016FrenchPDF
Abridged model31/12/201402/06/201510/06/2015FrenchPDF
Abridged model31/12/201303/06/201420/06/2014FrenchPDF
Abridged model31/12/201204/06/201321/06/2013FrenchPDF
Abridged model31/12/201105/06/201229/06/2012FrenchPDF
Abridged model31/12/201007/06/201116/12/2011FrenchPDF
Abridged model31/12/200904/06/201028/07/2010FrenchPDF
Abridged model31/12/200703/06/200829/09/2008FrenchPDF
Abridged model31/12/200606/06/200717/07/2007FrenchPDF
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 · 1 active · 2 ended

Active mandates

Maria-Louisa Ragoen

Manager

Active

Ended mandates

Maria-Louisa (Sacha) RAGOEN

Manager

Ended
Marie-Louisa Ragoen

Manager

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Mandates22/06/2026
    SIEGE SOCIAL - DEMISSIONS, NOMINATIONS
    PDF
  • Mandates15/03/2024
    STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …) - MODIFICATION FORME JURIDIQUE - OBJET - DEMISSIONS, NOMINATIONS
    PDF
  • Registered office12/09/2016
    SIEGE SOCIAL
    PDF
  • Registered office23/04/2010
    SIEGE SOCIAL
    PDF
  • Other21/10/2003
    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 2025-54,3 k €↓
  2. 2024
    Annual accounts 202430 k €↓
  3. 2023
    Annual accounts 202386,5 k €↑
  4. 2022
    Annual accounts 202251,9 k €↓
  5. 2021
    Annual accounts 202158,4 k €↓
  6. 2020
    Annual accounts 2020124,5 k €↑
  7. 2019
    Annual accounts 2019123,3 k €↑
  8. 2018
    Annual accounts 201831 k €↑
  9. 2017
    Annual accounts 201730,8 k €↑
  10. 2016
    Annual accounts 201614,4 k €↓
  11. 2015
    Annual accounts 201529,3 k €↑
  12. 2014
    Annual accounts 2014115,8 €↓
  13. 2013
    Annual accounts 20134,6 k €↑
  14. 2012
    Annual accounts 2012641,1 €↓
  15. 2011
    Annual accounts 201114 k €↑
  16. 2010
    Annual accounts 2010-5,2 k €↓
  17. 2009
    Annual accounts 200914,1 k €↑
  18. 2007
    Annual accounts 2007-23,3 k €↓
  19. 2006
    Annual accounts 2006-12,1 k €
  20. 14/10/2003
    IncorporationPrivate limited company