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 59 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
MASSENA from Gent, company number BE0881312504, closed financial year 2025 with a result of € 27,129 after tax. For that financial year MASSENA recorded a gross margin of € 145,493 and equity of € 54,838. Compared with financial year 2024, the result moved from € -446 to € 27,129. Profitable, and profit is growing. The buffer is growing. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on October 30, 2025.
€ 54,838
▲ 98% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 27,129
▲ still € 446 loss in 2024
Profit after tax over the fiscal year.
€ 154,072
▲ 22% 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 € 29,838.
People and assets in 2025
€ 73,702
▲ 9% vs 2024
Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 6,594
▼ 44% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 66,695
▼ 26% vs 2024
€ 15,920 is repaid this year. At this pace the long-term loan is gone in ≈ 4 years.
€ 233,654
▼ 2% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 21,788
▲ 141% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 64,982 | € 106,598 | € 105,922 | € 145,493 | ▲ 37% |
| Profit after taxes | € -27,074 | € -11,203 | € -446 | € 27,129 | ▲ € 27,575 |
| Equity | € 39,358 | € 28,155 | € 27,709 | € 54,838 | ▲ 98% |
| Total debts | € 357,568 | € 360,103 | € 349,718 | € 326,307 | ▼ 7% |
| Cash | € 6,700 | € 5,912 | € 126,655 | € 154,072 | ▲ 22% |
| Land & buildings | € 20,825 | € 16,079 | € 11,333 | € 6,587 | ▼ 42% |
| Retained profit | € 14,358 | € 3,155 | € 2,709 | € 29,838 | ▲ € 27,129 |
| Bank debt | € 130,254 | € 137,904 | € 89,557 | € 66,695 | ▼ 26% |
| Balance sheet total | € 396,926 | € 388,258 | € 377,427 | € 381,145 | ▲ 1% |
Key figures of MASSENA, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.The annual account for fiscal year 2026 has not been filed yet; it was expected before 31 October 2026.
What happened to MASSENA?
What happened at MASSENA in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 27,129. Source: NBB ↗
- Rachida Migo became a director. NBB
- Incorporation, published in the Gazette. Source: Staatsblad ↗
- New establishment in Gent. KBO
In short
From € 27,074 loss in 2022 to € 27,129 profit in 2025.
Paid € 6,120 in corporate taxes since 2022.
Best year ever: 2025, with € 27,129 profit.
Management
Behind MASSENA is Rachida Migo.
Directors
According to the 2025 annual accounts
Rachida Migo
Director
since 2016
Establishments
Establishment units
Physical locations of this company
Zwijnaardsesteenweg 68
9000 Gent
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Shareholders according to the Official Gazette deeds
Who contributed at incorporation and at capital increases, with the deed as source. Later share transfers are not published in the Gazette.
Incorporation
Source: Deed ↗- MATTHYS Sam(oprichter) 100%
Details
- Company number
- 0881.312.504
- VAT number
- BE 0881.312.504
- Registered office
- Zwijnaardsesteenweg 68, 9000 Gent
- Names & denominations
- MASSENA
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 8 May 2006
- Peppol
- Active · Active since 21 Nov 2025
- Activities · NACE
Niet-gespecialiseerde detailhandel waarbij voedings- en genotmiddelen overheersen
Superettes (verkoopsoppervlakte tussen 100 m2 en minder dan 400 m2)
Supermarkten (verkoopsoppervlakte tussen 400 m2 en minder dan 2.500 m2)
Detailhandel in niet-gespecialiseerde winkels waarbij voedings- en genotmiddelen overheersen (verkoopsoppervlakte tussen 100 m² en minder dan 400 m²)
Detailhandel in niet-gespecialiseerde winkels waarbij voedings- en genotmiddelen overheersen (verkoopsoppervlakte tussen 400 m² en minder dan 2500 m²)