ACTIVE

MASA

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Financial year 2025 · closed on 31/12/2025

Net result

51,8 k €

+34.4% YoY

Gross margin

92 k €

-6.3% YoY

Equity

316,5 k €

-14.2% YoY

What does MASA do?

MASA is a Private limited company incorporated in 2005. Its main activity is: Activities of holding companies. Its registered office is in Erpe-Mere.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0877.687.177

Incorporation

05/12/2005

Legal form

Private limited company

Registered office

Gentsesteenweg 290 box 2
9420 Erpe-Mere · FlandreSee on map

Contributed capital

18 550,00 €

Latest accounts

31/12/2025

Activities (NACE)

64200Activities of holding companies· main 64210Activities of holding companies 74151Specialised design activities

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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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	92 k €	-6.3%	98,1 k €	+5.9%	92,6 k €	-8.8%	101,6 k €	+41.9%	71,6 k €	+20.8%	59,2 k €	-77.9%	268,2 k €	+848%	28,3 k €	-44.1%	50,6 k €	+11.3%	45,5 k €	-15.7%	54 k €	+85.2%	29,2 k €	+25.6%	23,2 k €	-3.0%	23,9 k €	-0.1%	24 k €	-9.2%	26,4 k €	-24.7%	35,1 k €	-21.3%	44,6 k €
EBITDA	90,8 k €	-6.5%	97,1 k €	+6.0%	91,6 k €	+3.2%	88,8 k €	+25.8%	70,6 k €	+20.7%	58,4 k €	+33.7%	43,7 k €	+59.5%	27,4 k €	-44.9%	49,7 k €	+17.2%	42,4 k €	+3.1%	41,1 k €	+47.5%	27,9 k €	+26.1%	22,1 k €	+1.6%	21,7 k €	-5.0%	22,9 k €	-9.8%	25,4 k €	-26.7%	34,6 k €	-20.9%	43,8 k €
Operating result	78,2 k €	-7.4%	84,4 k €	+5.6%	79,9 k €	-7.9%	86,8 k €	+28.3%	67,7 k €	+17.3%	57,7 k €	+33.5%	43,2 k €	+106%	21 k €	-51.5%	43,3 k €	+20.5%	35,9 k €	+51.9%	23,6 k €	+34.6%	17,6 k €	+57.8%	11,1 k €	-8.7%	12,2 k €	-33.9%	18,5 k €	-17.9%	22,5 k €	-29.1%	31,7 k €	-26.5%	43,1 k €
Net result	51,8 k €	+34.4%	38,5 k €	-46.8%	72,4 k €	+12.7%	64,2 k €	+35.1%	47,5 k €	+10.3%	43,1 k €	+87.2%	23 k €	+94.2%	11,9 k €	-53.3%	25,4 k €	+12.3%	22,6 k €	+56.6%	14,4 k €	+49.1%	9,7 k €	+31.3%	7,4 k €	-17.6%	9 k €	-37.1%	14,2 k €	-18.9%	17,6 k €	-18.6%	21,6 k €	-24.9%	28,7 k €
Balance sheet
Equity	316,5 k €	-14.2%	369 k €	+11.4%	331,3 k €	+27.6%	259,8 k €	+32.3%	196,3 k €	+32.7%	147,9 k €	+8.4%	136,5 k €	-44.3%	244,9 k €	+5.1%	233 k €	+12.2%	207,6 k €	+12.2%	185 k €	+8.5%	170,6 k €	+6.0%	160,9 k €	+380%	33,5 k €	-41.8%	57,6 k €	+22.6%	47 k €	+42.3%	33 k €	0.0%	33 k €
Total assets	813 k €	-4.6%	852,3 k €	+21.9%	699,1 k €	+1.1%	691,6 k €	+144%	283,5 k €	+83.3%	154,6 k €	+6.6%	145 k €	-42.3%	251,2 k €	+5.8%	237,4 k €	-2.9%	244,4 k €	-10.6%	273,3 k €	+10.5%	247,3 k €	-2.2%	252,8 k €	+224%	77,9 k €	+18.7%	65,6 k €	+26.3%	52 k €	-9.2%	57,3 k €	-9.3%	63,1 k €
Cash	19,7 k €	-46.2%	36,6 k €	-27.8%	50,7 k €	+19.8%	42,3 k €	-83.6%	258 k €	+2227%	11,1 k €	-80.3%	56,2 k €	+195%	19 k €	+2250%	808,8 €	-83.2%	4,8 k €	-76.5%	20,5 k €	+111%	9,7 k €	+136%	4,1 k €	-56.1%	9,4 k €	+155%	3,7 k €	-74.2%	14,3 k €	+102%	7,1 k €	-33.4%	10,6 k €
Debts	496,5 k €	+2.7%	483,3 k €	+31.4%	367,8 k €	-14.8%	431,8 k €	+395%	87,2 k €	+1203%	6,7 k €	-21.6%	8,5 k €	+34.8%	6,3 k €	+44.9%	4,4 k €	-88.1%	36,7 k €	-58.4%	88,3 k €	+15.1%	76,7 k €	-16.4%	91,7 k €	+107%	44,2 k €	+483%	7,6 k €	+51.6%	5 k €	-79.3%	24,2 k €	-19.4%	30 k €

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 · 5 ended

Active mandates

Maureen Vermoesen

Director · since 29 novembre 2005

Active

Ended mandates

MAUREEN VERMOESEN

Manager · since 15 décembre 2005

Ended

Maureen Vermoesen

Administrator - manager · since 29 novembre 2005

Ended

MAUREEN VERMOESEN

Manager · since 29 novembre 2005

Ended

SAM BRONDEEL

Associate · since 29 novembre 2005

Ended

At this address

Other companies at this address

Company	CBE no.
ELSAT● Active	0436.990.938
SAM BRONDEEL● Active	0807.108.690

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro 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	11/05/2026	15/05/2025	13/05/2024	15/05/2023	09/05/2022	29/05/2021
General meeting	10/05/2026	11/05/2025	12/05/2024	14/05/2023	08/05/2022	09/05/2021
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

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	10/05/2026	11/05/2026	Dutch	PDF
Micro model	31/12/2024	11/05/2025	15/05/2025	Dutch	PDF
Micro model	31/12/2023	12/05/2024	13/05/2024	Dutch	PDF
Micro model	31/12/2022	14/05/2023	15/05/2023	Dutch	PDF
Micro model	31/12/2021	08/05/2022	09/05/2022	Dutch	PDF
Micro model	31/12/2020	09/05/2021	29/05/2021	Dutch	PDF
Micro model	31/12/2019	10/05/2020	11/05/2020	Dutch	PDF
Micro model	31/12/2018	12/05/2019	29/05/2019	Dutch	PDF
Micro model	31/12/2017	13/05/2018	29/05/2018	Dutch	PDF
Micro model	31/12/2016	14/05/2017	22/05/2017	Dutch	PDF
Abridged model	31/12/2015	08/05/2016	23/05/2016	Dutch	PDF
Abridged model	31/12/2014	10/05/2015	11/05/2015	Dutch	PDF
Abridged model	31/12/2013	11/05/2014	28/05/2014	Dutch	PDF
Abridged model	31/12/2012	12/05/2013	14/05/2013	Dutch	PDF
Abridged model	31/12/2011	13/05/2012	21/05/2012	Dutch	PDF
Abridged model	31/12/2010	08/05/2011	27/05/2011	Dutch	PDF
Abridged model	31/12/2009	09/05/2010	25/05/2010	Dutch	PDF
Abridged model	31/12/2008	10/05/2009	02/06/2009	Dutch	PDF
Abridged model	31/12/2007	13/05/2008	21/05/2008	Dutch	PDF
Abridged model	31/12/2006	13/05/2007	29/05/2007	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 · 5 ended

Active mandates

Maureen Vermoesen

Director · since 29 novembre 2005

Active

Ended mandates

MAUREEN VERMOESEN

Manager · since 15 décembre 2005

Ended

Maureen Vermoesen

Administrator - manager · since 29 novembre 2005

Ended

MAUREEN VERMOESEN

Manager · since 29 novembre 2005

Ended

SAM BRONDEEL

Associate · since 29 novembre 2005

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates19/12/2019
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares19/09/2017
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Registered office16/06/2014
MAATSCHAPPELIJKE ZETEL
PDF
Capital / shares05/12/2011
KAPITAAL - AANDELEN - DOEL
PDF
Other15/12/2005
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 202551,8 k €↑
2024
Annual accounts 202438,5 k €↓
2023
Annual accounts 202372,4 k €↑
2022
Annual accounts 202264,2 k €↑
2021
Annual accounts 202147,5 k €↑
2018
Annual accounts 201843,1 k €↑
2017
Annual accounts 201723 k €↑
2016
Annual accounts 201611,9 k €↓
2015
Annual accounts 201525,4 k €↑
2014
Annual accounts 201422,6 k €↑
2013
Annual accounts 201314,4 k €↑
2012
Annual accounts 20129,7 k €↑
2011
Annual accounts 20117,4 k €↓
2010
Annual accounts 20109 k €↓
2009
Annual accounts 200914,2 k €↓
2008
Annual accounts 200817,6 k €↓
2007
Annual accounts 200721,6 k €↓
2006
Annual accounts 200628,7 k €
05/12/2005
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

MASA

Overview

What does MASA 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