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 14 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
MAST & CO from Merchtem, company number BE0839457596, closed financial year 2025 with a result of € 115,024 after tax. For that financial year MAST & CO recorded a gross margin of € 181,427 and equity of € 817,461. Compared with financial year 2024, the result moved from € 116,255 to € 115,024. 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 August 27, 2026.
€ 817,461
▲ 16% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 115,024
▼ 1% vs 2024
Profit after tax over the fiscal year.
€ 12,094
▼ 54% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 811,261.
Debts at end 2025
€ 400,977
▼ 23% vs 2024
€ 72,923 is repaid this year. At this pace the long-term loan is gone in ≈ 5 years.
€ 199
▼ 33% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 21,283
▼ 30% 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 | € 210,776 | € 208,524 | € 183,629 | € 181,427 | ▼ 1% |
| Profit after taxes | € 138,018 | € 138,633 | € 116,255 | € 115,024 | ▼ 1% |
| Equity | € 497,549 | € 586,182 | € 702,437 | € 817,461 | ▲ 16% |
| Total debts | € 867,394 | € 778,331 | € 695,704 | € 546,115 | ▼ 22% |
| Cash | € 14,211 | € 13,782 | € 26,185 | € 12,094 | ▼ 54% |
| Retained profit | € 491,349 | € 579,982 | € 696,237 | € 811,261 | ▲ 17% |
| Dividend | € 79,000 | € 50,000 | € 0 | € 0 | |
| Bank debt | € 709,228 | € 589,997 | € 520,927 | € 400,977 | ▼ 23% |
| Balance sheet total | € 1,364,943 | € 1,364,513 | € 1,398,141 | € 1,363,576 | ▼ 2% |
Key figures of MAST & CO, 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 MAST & CO?
What happened at MAST & CO in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 115,024 (▼ 1% vs 2024). filed late Source: NBB ↗
- New establishment in Merchtem. KBO
- Lies De Coster became a director. NBB
- Start of the company according to the CBE. KBO
In short
From € 138,018 profit in 2022 to € 115,024 profit in 2025.
Paid € 211,570 in corporate taxes since 2022.
Best year ever: 2023, with € 138,633 profit.
Paid out € 129,000 in dividends to the owners in total.
Management
Behind MAST & CO is Lies De Coster. It owns 99% of Apotheek De Coster itself.
Directors
According to the 2025 annual accounts
since 2011
Establishments
Establishment units
Physical locations of this company
Nieuwelaan 1
1785 Merchtem
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 1 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
- 0839.457.596
- VAT number
- BE 0839.457.596
- Registered office
- Nieuwelaan 1, 1785 Merchtem
- Names & denominations
- MAST & CO
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 20 September 2011
- Peppol
- Active · Active since 27 Nov 2025
- Activities · NACE
Detailhandel in farmaceutische producten