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B.C. MATHE

Active
Public limited companyfounded 199333 yrs activeLeemputstraat 12, 8000 Brugge, BelgiumKBO/BCE: BE 0449.846.804
Summary

B.C. MATHE has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€254,179) and a net result of -€4,997. Equity remains stable across the filed fiscal years (±1.4% per year). The computed 12-month bankruptcy probability is 1.0% (low).

Checked score

Score 2025
Axes · tick = 2024
Profitability33=
Solvency0=
Growth78=
Track record100
Bankruptcy probability, 12 months
1.0% Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.45 against 0.45 in 2024; short-term debt: 195.6% and cash: 87.4% of total assets), and equity is negative.
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Signals

Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · No NACE activity registered
No NACE activity is registered in the KBO, which is more common among companies that later fail.
KBO · activities
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 33 years 0 40 y
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025
Solvency, return and age of the figures
Solvency
-96.9%
Return on assets
-1.9%
Age of the figures
9 mo
lowers risk · Lower-risk legal form
Companies with this legal form statistically fail less often than a BV.
KBO · legal form
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025
Equity per financial year
1819202122232425
2018 to 2025 · latest year -€254,179
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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 filings
Deviation from the deadline
2025
31 d late
2024
396 d late
2023
8 d early
2022
89 d early
2021
101 d early
2020
75 d early
2019
89 d late
← before the deadline after the deadline →
tick = median of all Belgian filings

This company filed its last 7 accounts on average 35 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.

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 months
Position in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

B.C. MATHE was incorporated on 9 April 1993.1 Total assets rose from EUR 153,387 in 2018 to EUR 262,278 in 2025.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2018 and 2025

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Financials · fiscal year 2025, abbreviated schema

Equity
-€254,179▼ 2.0%
2024 · -€249,182
Total assets
€262,278▼ 0.7%
2024 · €264,034
Net result
-€4,997▼ 9.8%
2024 · -€4,551
Working capital
-€283,833▼ 0.6%
2024 · -€282,076
Trend over the years

Click a name to add, emphasise or remove a line.

Every figure with its change against the fiscal year before
favourable unfavourable
Line20212022202320242025
Operating result-€3,306▲ 45.3%-€3,561▼ 7.7%-€4,394▼ 23.4%-€4,476▼ 1.9%-€4,943▼ 10.4%
Net result-€3,359-€3,625▼ 7.9%-€4,458▼ 23.0%-€4,551▼ 2.1%-€4,997▼ 9.8%
Equity-€236,547▼ 1.4%-€240,172▼ 1.5%-€244,631▼ 1.9%-€249,182▼ 1.9%-€254,179▼ 2.0%
Total assets€276,593▼ 14.2%€273,331▼ 1.2%€268,510▼ 1.8%€264,034▼ 1.7%€262,278▼ 0.7%
Debt€513,140▼ 7.6%€513,503▲ 0.1%€513,141▼ 0.1%€513,216=€516,456▲ 0.6%
Working capital-€269,517▼ 1.7%-€272,780▼ 1.2%-€277,600▼ 1.8%-€282,076▼ 1.6%-€283,833▼ 0.6%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
-€6,000-€4,000-€2,000€0Operating result 2021: -€3,306-€3,306Net result 2021: -€3,359-€3,359Operating result 2022: -€3,561-€3,561Net result 2022: -€3,625-€3,625Operating result 2023: -€4,394-€4,394Net result 2023: -€4,458-€4,458Operating result 2024: -€4,476-€4,476Net result 2024: -€4,551-€4,551Operating result 2025: -€4,943-€4,943Net result 2025: -€4,997-€4,99720212022202320242025-€6,000-€4,000-€2,000€0Operating result 2023: -€4,394-€4,390Net result 2023: -€4,458-€4,460Operating result 2024: -€4,476-€4,480Net result 2024: -€4,551-€4,550Operating result 2025: -€4,943-€4,940Net result 2025: -€4,997-€5,000202320242025
The operating result stays negative: a loss of €4,943 in 2025 against €4,476 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €262,278
Fixed assets €32,970 =
Current assets €229,308 ▼ 0.8%
Key figures and ratios
2025 value · change against 2024
Solvency
-96.9%▼
2024 · -94.4%
Current ratio
0.45▼
2024 · 0.45
Debt to equity
-2.03▲
2024 · -2.06
ROA
-1.9%▼
2024 · -1.7%
Debt ≤ 1 year
€513,141=
2024 · €513,141
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 2,798 companies that looked in July 2024 the way this one looks now, 1.9% went bankrupt within 24 months and 90% are still going.

  • Micro
  • 20 years or older
  • negative equity
  • a small loss
1.9% went bankrupt
6.0% stopped otherwise
90% still going

A further 2.1% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a bankruptcy probability of 1.0% over twelve months; the group does not contradict it.

How reliable is this rule?

Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.

The companies in ten equal groups, from lowest to highest expected share.
Group Expected Actual
1 0.2% 0.2%
2 0.3% 0.4%
3 0.5% 0.5%
4 0.6% 0.7%
5 0.8% 0.9%
6 1.2% 1.3%
7 1.5% 1.6%
8 1.7% 1.7%
9 2.7% 2.8%
10 5.3% 5.7%

The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.

An observation about 2,798 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.

Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 30 lines
Balance sheet Code20242025
Assets
Total assets20/58€264,034€262,278▼
Fixed assets21/28€32,970€32,970=
Tangible fixed assets22/27€32,970€32,970=
Land and buildings22€32,970€32,970=
Current assets29/58€231,064€229,308▼
Cash at bank and in hand54/58€231,064€229,308▼
Equity and liabilities
Total equity and liabilities10/49€264,034€262,278▼
Equity10/15-€249,182-€254,179▼
Contributions10/11€89,242€89,242=
Capital10€89,242€89,242=
Issued capital100€89,242€89,242=
Reserves13€105,660€105,660=
Non-distributable reserves130/1€8,924€8,924=
Legal reserve130€8,924€8,924=
Distributable reserves133€96,736€96,736=
Profit (loss) carried forward14-€444,084-€449,080▼
Amounts payable17/49€513,216€516,456▲
Amounts payable within one year42/48€513,141€513,141=
Other amounts payable47/48€513,141€513,141=
Accrued charges and deferred income492/3€75€3,315▲
Income statement Code20242025
Other operating charges640/8€1,456€1,754▲
Gross operating margin9900-€3,021-€3,189▼
Operating profit (loss)9901-€4,476-€4,943▼
Financial charges65/66B€75€53▼
Recurring financial charges65€75€53▼
Profit (loss) for the period before taxes9903-€4,551-€4,997▼
Profit (loss) for the period9904-€4,551-€4,997▼
Profit (loss) for the period to be appropriated9905-€4,551-€4,997▼
Appropriation of the result
Profit (loss) to be appropriated9906-€444,084-€449,080▼
Profit (loss) brought forward from the previous period14P-€439,533-€444,084▼

The notes to these accounts (3 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20212022202320242025Change
Other operating charges640/8€1,262€1,412€1,411€1,456€1,754▲ 20.5%
Gross operating margin9900-€2,044-€2,149-€2,983-€3,021-€3,189▼ 5.6%
Operating profit (loss)9901-€3,306-€3,561-€4,394-€4,476-€4,943▼ 10.4%
Financial charges65/66B€53€64€64€75€53▼ 29.0%
Recurring financial charges65€53€64€64€75€53▼ 29.0%
Profit (loss) for the period before taxes9903-€3,359-€3,625-€4,458-€4,551-€4,997▼ 9.8%
Profit (loss) for the period9904-€3,359-€3,625-€4,458-€4,551-€4,997▼ 9.8%
Profit (loss) for the period to be appropriated9905-€3,359-€3,625-€4,458-€4,551-€4,997▼ 9.8%
Line20212022202320242025Change
Assets
Total assets20/58€276,593€273,331€268,510€264,034€262,278▼ 0.7%
Fixed assets21/28€32,970€32,970€32,970€32,970€32,970=
Tangible fixed assets22/27€32,970€32,970€32,970€32,970€32,970=
Land and buildings22€32,970€32,970€32,970€32,970€32,970=
Current assets29/58€243,623€240,361€235,541€231,064€229,308▼ 0.8%
Cash at bank and in hand54/58€243,623€240,361€235,541€231,064€229,308▼ 0.8%
Equity and liabilities
Total equity and liabilities10/49€276,593€273,331€268,510€264,034€262,278▼ 0.7%
Equity10/15-€236,547-€240,172-€244,631-€249,182-€254,179▼ 2.0%
Contributions10/11€89,242€89,242€89,242€89,242€89,242=
Capital10€89,242€89,242€89,242€89,242€89,242=
Issued capital100€89,242€89,242€89,242€89,242€89,242=
Reserves13€105,660€105,660€105,660€105,660€105,660=
Non-distributable reserves130/1€8,924€8,924€8,924€8,924€8,924=
Legal reserve130€8,924€8,924€8,924€8,924€8,924=
Distributable reserves133€96,736€96,736€96,736€96,736€96,736=
Profit (loss) carried forward14-€431,449-€435,074-€439,533-€444,084-€449,080▼ 1.1%
Amounts payable17/49€513,140€513,503€513,141€513,216€516,456▲ 0.6%
Amounts payable within one year42/48€513,140€513,141€513,141€513,141€513,141=
Other amounts payable47/48€513,140€513,141€513,141€513,141€513,141=
Accrued charges and deferred income492/3-€362€0€75€3,315▲ 4,306%
Line20212022202320242025Change
Profit (loss) for the period9904-€3,359-€3,625-€4,458-€4,551-€4,997▼ 9.8%
Operating cash flow (approximation)-€3,359-€3,625-€4,458-€4,551-€4,997▼ 9.8%
Investment in fixed assets (approximation)-€0€0€0€0-
Change in cash--€3,262-€4,820-€4,476-€1,757▲ 60.8%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

Download as CSV

Timeline · acts, filings and financial milestones

Next filing, fiscal year 2026, expected by 31-07-2027
2026
14-09
State Gazette act Reappointments: Claire Vanlanckeren (managing director) and Emmanuel Geroue (director)
3 facts ▸
  • General meeting, 11-08-2026
  • Director reappointment, Claire Vanlanckeren (managing director)
  • Director reappointment, Emmanuel Geroue (director)
31-08
NBB filing Annual accounts filed
fiscal year 2025 · abbreviated schema · 31 days late
31-08
NBB filing Annual accounts filed
fiscal year 2024 · abbreviated schema · 396 days late
2024
23-07
NBB filing Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
03-05
NBB filing Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
21-04
NBB filing Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
17-05
NBB filing Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
28-10
NBB filing Annual accounts filed
fiscal year 2019 · abbreviated schema · 89 days late
2019
31-12
Financial Back to profitnet €201,887
Net result €201,887 after one loss-making year.
16-07
NBB filing Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
19-06
NBB filing Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
31-07
NBB filing Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 6 acts read
About the unread acts

Of the 6 Belgian State Gazette acts we know for this company, 1 has been read. The other 5 have not been read yet: what they contain is neither established nor disproved here.

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Directors · office · real estate

Directors
1 director, 1 in day-to-day management

Board 1

Current

Day-to-day management 1

Claire Vanlanckeren
Managing director
Current
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ. See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
5 of this company's 6 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Brugge
exact location from the address register On OpenStreetMap
Ground area
673 m²
Building footprint
673 m²
Volume, LiDAR
10,483 m³
Parcel 31804D1125/00E000, Flanders · tallest building 22.2 m, ±5 floors. Linked by address, not a title deed.
6 companies at this address See who is registered here
1 parcel
Flanders 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
31804D1125/00E000 Flanders 673 m² 1 · 673 m² 22.2 m · 5 fl.
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.

Mandate history

2 people since 2026, 2 in office
Show
  • Board
  • Day-to-day management
  • began earlier
Mandates per person, with start and end dates
Name Functions and periods
Emmanuel Geroue
  • Director, already before 14-09-2026 to date
Claire Vanlanckeren
  • Managing director, already before 14-09-2026 to date
See the board, name and seat on a given date →

Structure & network

Owners and holdings

1 owner

Owners 1

Holdings 0

The accounts to 31-12-2023 list no holdings, and no other source names one.

According to the 2023 annual accounts of B.C. MATHE and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.

Connections & network

2 current directors
Depth

The network starts from this company’s directors. Other companies they run appear here as nodes.

This company Company Director Shareholding +N: links not shown yet Click a node to look further, drag to arrange, scroll to zoom.

Identification & contact

Identification
Legal formPublic limited company
Founded09-04-1993
Fiscal year end31-12
E-invoicing
Not found in the Peppol register

No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.

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Register as of 27 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.