Masy Pharma
ActiveSummary
Masy Pharma has been active since 1986 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €476k and a net result of €6k. Equity remains stable across the filed fiscal years (±0.9% per year). Its solvency ranks better than 80% of 10359 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
75
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability70▼-3
Solvency93▼-7
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €35k at 30 days acceptable
Liquidity ample (current ratio 3.16 against 6.27 in 2024; short-term debt: 31% and cash: 9.1% of total assets), and 32.1% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Sector 47
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
67.9%
Return on assets
0.8%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 20-08-2026, 20 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
20 d late
2024
19 d late
2023
36 d early
2022
34 d early
2021
16 d early
2020
36 d early
2019
31 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€476k▲ 1.2%
2024 · €470k
2018: €448k
2019: €438k
2020: €444k
2021: €446k
2022: €450k
2023: €451k
2024: €470k
2018 → 2025
Total assets
€700k▲ 25.2%
2024 · €559k
2018: €660k
2019: €722k
2020: €773k
2021: €801k
2022: €841k
2023: €781k
2024: €559k
2018 → 2025
Net result
€6k▼ 69.8%
2024 · €19k
2018: €-2k
2019: €-9k
2020: €36k
2021: €18k
2022: €45k
2023: €19k
2024: €19k
2018 → 2025
Working capital
€470k▲ 3.4%
2024 · €454k
2018: €442k
2019: €431k
2020: €440k
2021: €441k
2022: €425k
2023: €435k
2024: €454k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€446k-€450k▲ 0.9%€451k▲ 0.2%€470k▲ 4.2%€476k▲ 1.2%
Operating result€20k-€47k▲ 140%€22k▼ 53.2%€18k▼ 18.7%€10k▼ 46.0%
Net result€18k-€45k▲ 156%€19k▼ 58.4%€19k▲ 1.8%€6k▼ 69.8%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2025 is 46% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €700k
Fixed assets
€14k ▼ 27.6%
Current assets
€687k ▲ 27.1%
Equity and liabilities €700k
Equity
€476k ▲ 1.2%
Debt
€225k ▲ 151%
Debt's share of the balance-sheet total rises from 16.0% to 32.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€15k▼
2024 · €23k
Cash flow
€11k▼
2024 · €24k
Current ratio
3.16▼
2024 · 6.27
Quick ratio
1.98▼
2024 · 3.53
Debt to equity
0.47▲
2024 · 0.19
ROE
1.2%▼
2024 · 4.1%
ROA
0.8%▼
2024 · 3.4%
Interest coverage
6.31▼
2024 · 6.54
Debt ≤ 1 year
€217k▲
2024 · €86k
Income taxes
€3k▲
2024 · €-3k
Staff costs
€99k▼
2024 · €113k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 49 lines
Balance sheet
Code20242025
Assets
Total assets20/58€559k€700k▲
Fixed assets21/28€19k€14k▼
Tangible fixed assets22/27€18k€13k▼
Furniture and vehicles24€18k€13k▼
Financial fixed assets28€910€910=
Current assets29/58€540k€687k▲
Stocks and contracts in progress3€237k€256k▲
Stocks30/36€237k€256k▲
Amounts receivable within one year40/41€229k€357k▲
Trade receivables40€111k€216k▲
Other amounts receivable41€118k€141k▲
Current investments50/53€0-
Cash at bank and in hand54/58€63k€64k▲
Deferred charges and accrued income490/1€12k€10k▼
Equity and liabilities
Total equity and liabilities10/49€559k€700k▲
Equity10/15€470k€476k▲
Contributions10/11€19k€19k=
Reserves13€451k€457k▲
Tax-exempt reserves132€3k€3k=
Distributable reserves133€448k€454k▲
Profit (loss) carried forward14€0-
Amounts payable17/49€89k€225k▲
Amounts payable within one year42/48€86k€217k▲
Trade debts44€72k€91k▲
Suppliers440/4€72k€91k▲
Taxes, remuneration and social security45€14k€9k▼
Taxes450/3€0-
Remuneration and social security454/9€14k€9k▼
Other amounts payable47/48€96€117k▲
Accrued charges and deferred income492/3€3k€8k▲
Income statement
Code20242025
Remuneration, social security and pensions62€113k€99k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€5k€5k▼
Other operating charges640/8€4k€4k▼
Gross operating margin9900€140k€118k▼
Operating profit (loss)9901€18k€10k▼
Financial income75/76B€2k€1k▼
Recurring financial income75€2k€1k▼
Financial charges65/66B€4k€2k▼
Recurring financial charges65€4k€2k▼
Profit (loss) for the period before taxes9903€16k€8k▼
Income taxes67/77€-3k€3k▲
Profit (loss) for the period9904€19k€6k▼
Profit (loss) for the period to be appropriated9905€19k€6k▼
Appropriation of the result
Profit (loss) to be appropriated9906€19k€6k▼
Transfer to equity691/2€19k€6k▼
To other reserves6921€19k€6k▼
Profit to be distributed694/7€0-
Directors or managers695€0-
Social balance
Average headcount (FTE)90870.00.0=
The notes to these accounts (13 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
20-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 20 days late
2025
19-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 19 days late
2024
31-12
Financial
Liquidity triplescurrent ratio 6.27
Current ratio from 2.35 to 6.27; short-term debt falls from €322k to €86k.
25-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
27-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Highest result since 2018net €45k ▲156%
Operating result €47k, net result €45k, both a record.
15-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
25-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Back to profitnet €36k
Net result €36k after 2 loss-making years.
30-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Weakest financial yearnet €-9k
Net result drops to €-9k, the lowest in the series; recovery starts the following year.
25-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
26-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
20-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Vilvoorde · 1 establishment unit since 1986
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Meeuwenlaan 191800 VilvoordeGround area
192 m²
Building footprint
84 m²
Volume, LiDAR
670 m³
Parcel 23088A0150/00W016, Flanders · tallest building 10.3 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
APOTEEK MASY
since 19862.031.192.371
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23088A0150/00W016 | Flanders | 192 m² | 1 · 84 m² | 10.3 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
APOTHEEK JACOBS
BE 0447.070.525
Lievegem · Eq €475,538
GRENEZ-OCMANT
BE 0841.806.184
Le Roeulx · Eq €475,573
VANLERBERGHE INVEST
BE 0846.206.917
Torhout · Eq €475,312
APOTHEEK HAVERMARKT
BE 0449.811.665
Hasselt · Eq €475,300
APOTHEEK CLAES
BE 0407.180.462
Balen · Eq €475,283
Of 5,220 companies in sector 47730 we hold annual accounts for 3,861. 3,375 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded17-12-1986
Fiscal year end31-12
Activities, NACEBEL 2025
47730Retail sale of pharmaceutical products
Sources
Crossroads Bank for EnterprisesNational Bank · 39 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.