Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Tight liquidity NBB
Cash and receivables cover 10 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
MASTER COLOR from Temse, company number BE0537991593, closed financial year 2025 with a result of € -22,703 after tax. For that financial year MASTER COLOR recorded a gross margin of € 28,383 and equity of € 374,157. Compared with financial year 2024, the result moved from € 15,367 to € -22,703. The company made a loss. The company holds a healthy buffer. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on June 25, 2026.
€ 374,157
▼ 6% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -22,703
▼ still € 15,367 profit in 2024
Profit after tax over the fiscal year.
Loss, nothing to pay out
Reserves fell to € 304,157.
People and assets in 2025
€ 250
Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
Debts at end 2025
€ 51,547
▼ 37% vs 2024
Loans from banks and other lenders, long and short.
€ 36,030
▲ 5% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 5,315
▼ 48% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 45,502 | € 50,162 | € 30,631 | € 28,383 | ▼ 7% |
| Profit after taxes | € 25,615 | € 29,327 | € 15,367 | € -22,703 | ▼ € 38,071 |
| Equity | € 352,166 | € 381,493 | € 396,860 | € 374,157 | ▼ 6% |
| Total debts | € 894,476 | € 899,602 | € 851,583 | € 712,823 | ▼ 16% |
| Cash | € 32 | - | - | - | |
| Retained profit | € 282,166 | € 311,493 | € 326,860 | € 304,157 | ▼ 7% |
| Bank debt | € 237,194 | € 178,731 | € 81,677 | € 51,547 | ▼ 37% |
| Balance sheet total | € 1,246,642 | € 1,281,095 | € 1,248,444 | € 1,086,980 | ▼ 13% |
Key figures of MASTER COLOR, 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 MASTER COLOR?
What happened at MASTER COLOR in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 22,703 (▼ € 38,071 vs 2024). Source: NBB ↗
- HIBA NASSAJ became a director. NBB
- AHMAD MASHTA became a director. NBB
- Start of the company according to the CBE. KBO
- New establishment in Temse. KBO
In short
From € 25,615 profit in 2022 to € 22,703 loss in 2025.
Paid € 27,142 in corporate taxes since 2022.
Best year ever: 2023, with € 29,327 profit.
Management
Behind MASTER COLOR are HIBA NASSAJ and AHMAD MASHTA. It owns 100% of MONED - B, 100% of KOPIE-EXPRESS and 99.9% of Printhings itself.
Directors
According to the 2025 annual accounts
HIBA NASSAJ
Director
since 2025
since 2025
Establishments
Establishment units
Physical locations of this company
Kapelanielaan 33
9140 Temse
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 2 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0537.991.593
- VAT number
- BE 0537.991.593
- Registered office
- Kapelanielaan 33, 9140 Temse
- Names & denominations
- MASTER COLOR
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 9 September 2013
- Peppol
- Active · Active since 15 Dec 2025
- Activities · NACE
Activiteiten van hoofdkantoren
Overige zakelijke dienstverlening, neg