What is the address of MASEL?

The registered office of MASEL is located at Rue Clément Delpierre 67, 1310 La Hulpe.

Is MASEL still active?

Yes. According to the CBE (30 October 2026) MASEL is active, legal situation “Normale toestand”, started on 3 December 1992.

Is MASEL registered on Peppol?

No, MASEL is currently not registered on the Peppol network.

What is the enterprise number of MASEL?

The enterprise number of MASEL is BE0448835331.

When was MASEL founded?

MASEL was founded on 3 December 1992.

Who are the directors of MASEL?

According to the 2025 annual accounts, the directors of MASEL are: Marie-Claire Annie de SELLIERS de MORANVILLE, Pieter Vercruysse.

Is MASEL a reliable company?

Databakkes does not pass judgement; this is what the sources say: Active according to the CBE since 3 December 1992; 5 annual accounts filed, latest fiscal year 2025; 2 directors known from the annual account.

How much profit did MASEL make in 2025?

MASEL posted a profit after taxes of € 1,023,980 in financial year 2025.

What is the revenue of MASEL?

As a small company, MASEL is not required to publish revenue in its annual accounts. In financial year 2025, its added value was € -87,819.

MASEL (Public Limited) - La Hulpe - BE0448835331

Dossier MASEL, printed on 30 October 2026 from databakkes.be/en/0448835331/masel. Sources: CBE, National Bank of Belgium, Belgian Official Gazette.

Warning lights

Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.

Not on Peppol Peppol

Not registered in the Peppol network, mandatory for VAT-liable companies since 1 January 2026.

Financials

Financial year 2025

MASEL from La Hulpe, company number BE0448835331, closed financial year 2025 with a result of € 1 million after tax. For that financial year MASEL recorded a gross margin of € -87,819 and equity of € 21.6 million. Compared with financial year 2024, the result moved from € 1.8 million to € 1 million. The company is profitable. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on June 16, 2026.

What it is worth Growing

€ 21.6 million

▲ 2% vs 2024

Assets minus debts, by the books. What is left if everything were sold and paid today.

Profit Healthy

€ 1 million

▼ 42% vs 2024

Profit after tax over the fiscal year.

Cash in the bank

€ 8,067

▼ 59% vs 2024

Cash and bank balances on the last day of the fiscal year.

Where the profit goes Pays out

€ 650,000 paid out

63 % of the profit went to the shareholders, the rest stayed in the company.

Debts at end 2025

Bank debt

None

No bank loans on the last day of the fiscal year.

Key figures per fiscal year Download key figures (CSV)
	2022	2023	2024	2025	Change 2024 → 2025
Gross margin	€ -39,499 Gross margin 2022: € -39,499 First fiscal year in the series	€ -41,140 Gross margin 2023: € -41,140 ▼ € 1,641 vs 2022 (€ -39,499) Unfavourable step	€ -89,823 Gross margin 2024: € -89,823 ▼ € 48,683 vs 2023 (€ -41,140) Unfavourable step	€ -87,819 Gross margin 2025: € -87,819 ▲ € 2,004 vs 2024 (€ -89,823) Favourable step	▲ € 2,004
Profit after taxes	€ 968,921 Profit after taxes 2022: € 968,921 First fiscal year in the series	€ 1,431,588 Profit after taxes 2023: € 1,431,588 ▲ 48% vs 2022 (€ 968,921) Favourable step	€ 1,779,149 Profit after taxes 2024: € 1,779,149 ▲ 24% vs 2023 (€ 1,431,588) Favourable step	€ 1,023,980 Profit after taxes 2025: € 1,023,980 ▼ 42% vs 2024 (€ 1,779,149) Unfavourable step	▼ 42%
Equity	€ 19,450,743 Equity 2022: € 19,450,743 First fiscal year in the series	€ 20,232,331 Equity 2023: € 20,232,331 ▲ 4% vs 2022 (€ 19,450,743) Favourable step	€ 21,261,480 Equity 2024: € 21,261,480 ▲ 5% vs 2023 (€ 20,232,331) Favourable step	€ 21,635,460 Equity 2025: € 21,635,460 ▲ 2% vs 2024 (€ 21,261,480) Favourable step	▲ 2%
Total debts	€ 3,800,646 Total debts 2022: € 3,800,646 First fiscal year in the series	€ 3,801,073 Total debts 2023: € 3,801,073 Unchanged (€ 3,800,646) Unfavourable step	€ 3,800,756 Total debts 2024: € 3,800,756 Unchanged (€ 3,801,073) Favourable step	€ 3,980,708 Total debts 2025: € 3,980,708 ▲ 5% vs 2024 (€ 3,800,756) Unfavourable step	▲ 5%
Cash	€ 83,178 Cash 2022: € 83,178 First fiscal year in the series	€ 295,115 Cash 2023: € 295,115 ▲ 255% vs 2022 (€ 83,178) Favourable step	€ 19,612 Cash 2024: € 19,612 ▼ 93% vs 2023 (€ 295,115) Unfavourable step	€ 8,067 Cash 2025: € 8,067 ▼ 59% vs 2024 (€ 19,612) Unfavourable step	▼ 59%
Retained profit	€ 19,200,743 Retained profit 2022: € 19,200,743 First fiscal year in the series	€ 19,982,331 Retained profit 2023: € 19,982,331 ▲ 4% vs 2022 (€ 19,200,743) Favourable step	€ 21,011,480 Retained profit 2024: € 21,011,480 ▲ 5% vs 2023 (€ 19,982,331) Favourable step	€ 21,385,460 Retained profit 2025: € 21,385,460 ▲ 2% vs 2024 (€ 21,011,480) Favourable step	▲ 2%
Dividend	€ 530,000 Dividend 2022: € 530,000 First fiscal year in the series	€ 650,000 Dividend 2023: € 650,000 ▲ 23% vs 2022 (€ 530,000) Unchanged	€ 750,000 Dividend 2024: € 750,000 ▲ 15% vs 2023 (€ 650,000) Unchanged	€ 650,000 Dividend 2025: € 650,000 ▼ 13% vs 2024 (€ 750,000) Unchanged	▼ 13%
Balance sheet total	€ 23,251,390 Balance sheet total 2022: € 23,251,390 First fiscal year in the series	€ 24,033,404 Balance sheet total 2023: € 24,033,404 ▲ 3% vs 2022 (€ 23,251,390) Unchanged	€ 25,062,236 Balance sheet total 2024: € 25,062,236 ▲ 4% vs 2023 (€ 24,033,404) Unchanged	€ 25,616,168 Balance sheet total 2025: € 25,616,168 ▲ 2% vs 2024 (€ 25,062,236) Unchanged	▲ 2%

Key figures of MASEL, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.

What happened to MASEL?

What happened at MASEL in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:

2028 Marie-Claire Annie de SELLIERS de MORANVILLE stepped down as director. NBB
2028 Pieter Vercruysse stepped down as director. NBB
Jun 16, 2026 New annual accounts for financial year 2025: profit of € 1 million (▼ 42% vs 2024). Source: NBB ↗
2022 Marie-Claire Annie de SELLIERS de MORANVILLE became a director. NBB
2022 Pieter Vercruysse became a director. NBB
Mar 10, 1993 New establishment in Watermaal-Bosvoorde. KBO
Dec 3, 1992 Start of the company according to the CBE. KBO

In short

From € 968,921 profit in 2022 to € 1 million profit in 2025.

Paid € 519,470 in corporate taxes since 2022.

Best year ever: 2024, with € 1.8 million profit.

Paid out € 2.6 million in dividends to the owners in total.

Original PDFs at the National Bank ↗

Management

Directors

According to the 2025 annual accounts

Marie-Claire Annie de SELLIERS de MORANVILLE

Director

since 2022 · until 2028

Pieter Vercruysse

Director

Also active at: SAFINVES, POMOFI, FONCADIS

since 2022 · until 2028

Establishments

Establishment units

Physical locations of this company

Registered office

Rue Clément Delpierre 67

1310 La Hulpe

2.061.211.891

Terhulpsesteenweg 150

1170 Watermaal-Bosvoorde

Active since 10 March 1993

What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.

Details

Company number: 0448.835.331
VAT number: BE 0448.835.331
Registered office: Rue Clément Delpierre 67, 1310 La Hulpe
Names & denominations: MASEL
Enterprise type: Rechtspersoon
Legal form: Public limited company
Legal situation: Normale toestand
Start date: 3 December 1992
Peppol: Not registered

View on CBE Public ↗ Annual accounts (NBB) ↗

MASEL