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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Negative equity NBB
More debt than assets in 4 of the last 4 fiscal years.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 3 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
MAS from Brasschaat, company number BE0729981616, closed financial year 2025 with a result of € -19,198 after tax. For that financial year MAS recorded a gross margin of € -8,334 and equity of € -127,743. Compared with financial year 2024, the result moved from € -19,971 to € -19,198. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on July 8, 2026.
€ -127,743
▼ € 19,198 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -19,198
▲ 4 % less loss than in 2024
Profit after tax over the fiscal year.
€ 78
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -127,743.
Debts at end 2025
€ 2.6 million
▲ 10% vs 2024
Loans from banks and other lenders, long and short.
€ 2,809
▼ 91% vs 2024
Supplier invoices still open on the last day of the fiscal year.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € -8,075 | € -19,278 | € -10,013 | € -8,334 | ▲ € 1,679 |
| Profit after taxes | € -14,252 | € -27,052 | € -19,971 | € -19,198 | ▲ € 773 |
| Equity | € -61,523 | € -88,575 | € -108,545 | € -127,743 | ▼ € 19,198 |
| Total debts | € 1,897,713 | € 2,012,315 | € 2,410,235 | € 2,643,650 | ▲ 10% |
| Cash | € 4,113 | € 19,354 | - | € 78 | |
| Retained profit | € -61,523 | € -88,575 | € -108,545 | € -127,743 | ▼ € 19,198 |
| Bank debt | € 1,814,817 | € 1,936,149 | € 2,380,341 | € 2,616,782 | ▲ 10% |
| Balance sheet total | € 1,836,190 | € 1,923,740 | € 2,301,690 | € 2,515,907 | ▲ 9% |
Key figures of MAS, 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 MAS?
What happened at MAS in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 19,198. Source: NBB ↗
- Nic Schuybroek became a director. NBB
- Olivier Reijnhoudt became a director. NBB
- New establishment in Antwerpen. KBO
- Start of the company according to the CBE. KBO
In short
From € 14,252 loss in 2022 to € 19,198 loss in 2025.
Management
The stake of ASIANTIQUE comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
MASBehind MAS are Nic Schuybroek and Olivier Reijnhoudt. The shares are held by ASIANTIQUE (50%).
Directors
According to the 2025 annual accounts
Nic Schuybroek
Director
since 2019
Olivier Reijnhoudt
Director
Also active at: Immobiliën De Mick, Immobiliën Hof ter Mick, ASIANTIQUE, SANDERSON, REYNATI
since 2019
Shareholders
50%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Mikhof 11
2930 Brasschaat
Bredabaan 99 box c4
2170 Antwerpen
Active since 10 July 2019
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 3 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
- 0729.981.616
- VAT number
- BE 0729.981.616
- Registered office
- Mikhof 11, 2930 Brasschaat
- Names & denominations
- MAS
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 10 July 2019
- Peppol
- Active · Active since 29 Dec 2025