ACTIVE

MASTERMAIL

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Financial year 2025 · closed on 31/12/2025

Net result

-265,3 k €

-299.9% YoY

Gross margin

338,6 k €

-51.4% YoY

Equity

431,3 k €

-56.7% YoY

Workforce

4,6 ETP

-25.8% YoY

What does MASTERMAIL do?

MASTERMAIL is a Private limited company incorporated in 2003. Its registered office is in Leuven. It employs on average 4,6 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0862.335.047

Incorporation

22/12/2003

Legal form

Private limited company

Registered office

Wijgmaalsesteenweg 108 box A
3012 Leuven · FlandreSee on map

Contributed capital

18 600,00 €

Latest accounts

31/12/2025

Average workforce

4,6 ETP

Joint committees (5)

100
10000
200
20000
2001

Signals

Solid equityHealthy social debts

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	338,6 k €	-51.4%	696,1 k €	+21.8%	571,6 k €	+9.2%	523,6 k €	-39.8%	870,4 k €	-27.0%	1,2 M €	+5.4%	1,1 M €	+8.5%	1 M €	+12.8%	924,3 k €	-4.9%	971,6 k €	+17.1%	829,4 k €	-7.6%	897,2 k €	+3.7%	865,5 k €	+19.8%	722,6 k €	+32.8%	544,1 k €	-28.0%	755,5 k €	+102%	374,2 k €	+10.4%	339,1 k €
EBITDA	-97,1 k €	-133%	295,7 k €	+67.3%	176,8 k €	+31.5%	134,4 k €	-69.8%	444,7 k €	-22.7%	575 k €	+23.0%	467,5 k €	+3.2%	452,9 k €	+58.6%	285,6 k €	-25.7%	384,4 k €	+60.5%	239,6 k €	-24.8%	318,7 k €	-2.4%	326,6 k €	-11.6%	369,5 k €	+54.0%	239,9 k €	-56.3%	548,3 k €	+133%	235,6 k €	+1.3%	232,5 k €
Operating result	-262,9 k €	-251%	174,1 k €	+162%	66,4 k €	+102%	32,9 k €	-91.6%	390,6 k €	-5.6%	413,7 k €	+35.0%	306,4 k €	+5.3%	290,8 k €	+87.5%	155,1 k €	-39.1%	254,5 k €	+85.7%	137 k €	-37.6%	219,7 k €	+0.2%	219,2 k €	-9.1%	241 k €	+98.2%	121,6 k €	-72.4%	441,1 k €	+168%	164,5 k €	+7.1%	153,7 k €
Net result	-265,3 k €	-300%	132,7 k €	+194%	45,1 k €	+73.6%	26 k €	-92.0%	324,5 k €	+23.3%	263,2 k €	+49.0%	176,7 k €	+4.1%	169,7 k €	+518%	27,4 k €	-80.4%	139,7 k €	+109%	66,8 k €	-40.6%	112,5 k €	-27.2%	154,7 k €	-0.4%	155,2 k €	+89.6%	81,9 k €	-71.7%	289,1 k €	+318%	69,1 k €	-29.9%	98,6 k €
Balance sheet
Equity	431,3 k €	-56.7%	996,6 k €	+15.4%	863,9 k €	+5.5%	818,8 k €	+3.3%	792,8 k €	-38.4%	1,3 M €	+25.7%	1 M €	+20.9%	847,1 k €	+9.0%	777,4 k €	-6.9%	834,9 k €	+75.3%	476,2 k €	-46.6%	892,4 k €	+14.4%	779,9 k €	+24.7%	625,2 k €	+33.0%	469,9 k €	+21.1%	388 k €	+232%	117 k €	+9.6%	106,7 k €
Total assets	1 M €	-33.0%	1,6 M €	+0.6%	1,6 M €	-5.9%	1,6 M €	-2.1%	1,7 M €	-14.5%	2 M €	+1.2%	1,9 M €	+5.1%	1,9 M €	+22.6%	1,5 M €	-15.4%	1,8 M €	+15.2%	1,5 M €	-3.5%	1,6 M €	+28.2%	1,3 M €	-6.0%	1,3 M €	+29.1%	1 M €	-0.2%	1 M €	+49.2%	693,1 k €	-12.3%	790,3 k €
Cash	335,1 k €	-29.4%	474,9 k €	+60.2%	296,5 k €	-49.2%	583,4 k €	+232%	175,5 k €	-74.8%	696,8 k €	+47.5%	472,5 k €	+42.9%	330,6 k €	+119%	151,1 k €	+47.9%	102,2 k €	-55.9%	231,8 k €	-37.3%	369,4 k €	+207%	120,5 k €	-48.0%	231,5 k €		–		332,8 k €	+76.9%	188,1 k €	+5.1%	179 k €
Debts	615,1 k €	+12.2%	548 k €	-5.3%	578,5 k €	-30.0%	826,4 k €	-5.2%	871,8 k €	+30.2%	669,5 k €	-25.4%	897 k €	-8.7%	983 k €	+36.2%	721,8 k €	-23.1%	938,8 k €	-12.4%	1,1 M €	+88.8%	567,5 k €	+20.3%	471,7 k €	-33.2%	706,3 k €	+25.8%	561,6 k €	-13.1%	646 k €	+17.1%	551,9 k €	-19.3%	683,7 k €
Other
Workforce	4,6 ETP	-25.8%	6,2 ETP	-6.1%	6,6 ETP	-13.2%	7,6 ETP	-9.5%	8,4 ETP	-29.4%	11,9 ETP	-7.8%	12,9 ETP	+15.2%	11,2 ETP	-9.7%	12,4 ETP	+27.8%	9,7 ETP	-6.7%	10,4 ETP	0.0%	10,4 ETP	-4.6%	10,9 ETP	+58.0%	6,9 ETP	+9.5%	6,3 ETP	+18.9%	5,3 ETP	+121%	2,4 ETP	-14.3%	2,8 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 7 ended

Active mandates

DACETO

Director · since 27 novembre 2020 · 0758.855.249

Represented by VANWESENBEECK DANIELLE

Active

Ended mandates

DACETO

Director · since 27 novembre 2020 · 0758.855.249

Represented by VANWESENBEECK DANIELLE

Ended

Daniëlle Vanwesenbeeck

Manager

Ended

Verzicht Comm.V

Manager · 0841.937.927

Represented by Daniëlle Vanwesenbeeck

Ended

VERZICHT CommV

Director · 0841.937.927

Represented by VANWESENBEECK DANIELLE

Ended

At this address

Other companies at this address

Company	CBE no.
BTWE GROEP MASTERMAIL● Active	0849.444.044
Groep Hasselbroek Invest Consulting● Active	0747.917.114
HASSELBROEK● Active	0747.531.785
OptiDrive● Active	0461.645.170
WEDARVA● Active	0809.049.185

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	10/06/2026	08/07/2025	18/06/2024	14/07/2023	17/06/2022	01/07/2021
General meeting	09/06/2026	30/05/2025	18/06/2024	27/06/2023	16/06/2022	30/06/2021
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

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	09/06/2026	10/06/2026	Dutch	PDF
Abridged model	31/12/2024	30/05/2025	08/07/2025	Dutch	PDF
Abridged model	31/12/2023	18/06/2024	18/06/2024	Dutch	PDF
Abridged model	31/12/2022	27/06/2023	14/07/2023	Dutch	PDF
Abridged model	31/12/2021	16/06/2022	17/06/2022	Dutch	PDF
Abridged model	31/12/2020	30/06/2021	01/07/2021	Dutch	PDF
Abridged modelCorrection	31/12/2019	27/11/2020	25/01/2021	Dutch	PDF
Abridged model	31/12/2019	29/05/2020	14/08/2020	Dutch	PDF
Abridged model	31/12/2018	31/05/2019	11/07/2019	Dutch	PDF
Abridged model	31/12/2017	25/05/2018	17/08/2018	Dutch	PDF
Abridged model	31/12/2016	26/05/2017	28/06/2017	Dutch	PDF
Abridged model	31/12/2015	27/05/2016	30/06/2016	Dutch	PDF
Abridged model	31/12/2014	29/05/2015	02/07/2015	Dutch	PDF
Abridged model	31/12/2013	30/05/2014	07/08/2014	Dutch	PDF
Abridged model	31/12/2012	31/05/2013	30/07/2013	Dutch	PDF
Abridged model	31/12/2011	29/06/2012	14/08/2012	Dutch	PDF
Abridged model	31/12/2010	27/05/2011	22/08/2011	Dutch	PDF
Abridged model	31/12/2009	28/05/2010	31/08/2010	Dutch	PDF
Abridged model	31/12/2008	29/05/2009	28/08/2009	Dutch	PDF
Abridged model	31/12/2007	30/05/2008	27/06/2008	Dutch	PDF
Abridged model	31/12/2006	25/05/2007	05/07/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 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 · 7 ended

Active mandates

DACETO

Director · since 27 novembre 2020 · 0758.855.249

Represented by VANWESENBEECK DANIELLE

Active

Ended mandates

DACETO

Director · since 27 novembre 2020 · 0758.855.249

Represented by VANWESENBEECK DANIELLE

Ended

Daniëlle Vanwesenbeeck

Manager

Ended

Verzicht Comm.V

Manager · 0841.937.927

Represented by Daniëlle Vanwesenbeeck

Ended

VERZICHT CommV

Director · 0841.937.927

Represented by VANWESENBEECK DANIELLE

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates11/01/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates14/12/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates04/10/2019
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - DIVERSEN - ONTSLAGEN - BENOEMINGEN
PDF
Mandates10/12/2014
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares16/04/2014
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates29/10/2012
MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN
PDF
Other31/12/2003
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 2025-265,3 k €↓
2024
Annual accounts 2024132,7 k €↑
2023
Annual accounts 202345,1 k €↑
2022
Annual accounts 202226 k €↓
2021
Annual accounts 2021324,5 k €↑
2018
Annual accounts 2018263,2 k €↑
2017
Annual accounts 2017176,7 k €↑
2016
Annual accounts 2016169,7 k €↑
2015
Annual accounts 201527,4 k €↓
2014
Annual accounts 2014139,7 k €↑
2013
Annual accounts 201366,8 k €↓
2012
Annual accounts 2012112,5 k €↓
2011
Annual accounts 2011154,7 k €↓
2010
Annual accounts 2010155,2 k €↑
2009
Annual accounts 200981,9 k €↓
2008
Annual accounts 2008289,1 k €↑
2007
Annual accounts 200769,1 k €↓
2006
Annual accounts 200698,6 k €
22/12/2003
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

MASTERMAIL

Overview

What does MASTERMAIL do?

Trend over 18 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