GDW Mathé
ActiveGDW Mathé has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €665k and a net result of €26k. Equity is shrinking by ~9.1% per year across the filed fiscal years. Its solvency ranks better than 68% of 3282 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
85
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability72▼-11
Solvency90▲+11
Growth32=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €55k at 30 days acceptable
Liquidity ample (current ratio 2.73 against 2.04 in 2024; short-term debt: 33.2% and cash: 32.1% of total assets), and 35.2% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 69
Relative position
BE, all sectors
reference
Sector 69
lower
← 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
64.8%
Return on assets
2.5%
Age of the figures
9 mo
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
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 14-08-2026, 14 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
14 d late
2024
14 d late
2023
30 d late
2022
22 d late
2021
30 d late
2020
30 d late
2019
31 d early
← before the deadline
after the deadline →
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
20-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€665k▼ 14.3%
2024 · €776k
2018: €1.17M
2019: €1.30M
2020: €1.33M
2021: €1.19M
2022: €1.14M
2023: €976k
2024: €776k
2018 → 2025
Total assets
€1.03M▼ 29.0%
2024 · €1.44M
2018: €2.28M
2019: €2.29M
2020: €2.16M
2021: €1.99M
2022: €1.91M
2023: €1.49M
2024: €1.44M
2018 → 2025
Net result
€26k▼ 84.0%
2024 · €162k
2018: €344k
2019: €282k
2020: €23k
2021: €77k
2022: €130k
2023: €72k
2024: €162k
2018 → 2025
Working capital
€589k▼ 14.8%
2024 · €692k
2018: €689k
2019: €897k
2020: €934k
2021: €837k
2022: €847k
2023: €846k
2024: €692k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.19M-€1.14M▼ 4.0%€976k▼ 14.7%€776k▼ 20.5%€665k▼ 14.3%
Operating result€89k-€178k▲ 99.7%€105k▼ 40.8%€193k▲ 82.6%€41k▼ 78.8%
Net result€77k-€130k▲ 67.9%€72k▼ 45.0%€162k▲ 127%€26k▼ 84.0%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 79% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.03M
Fixed assets
€95k▲ 9.5%
Current assets
€930k▼ 31.5%
Equity and liabilities €1.03M
Equity
€665k▼ 14.3%
Debt
€360k▼ 46.1%
The debt ratio falls from 46.3% to 35.2%. Equity and debt are lower.
Key figures and ratios
EBITDA
€65k▼
2024 · €256k
Cash flow
€51k▼
2024 · €226k
Solvency
64.8%▲
2024 · 53.7%
Current ratio
2.73▲
2024 · 2.04
Quick ratio
2.73▲
2024 · 2.04
Debt / equity
0.54▼
2024 · 0.86
ROE
3.9%▼
2024 · 20.9%
ROA
2.5%▼
2024 · 11.2%
Interest coverage
44.47▼
2024 · 111.53
Debt
€360k▼
2024 · €668k
Debt ≤ 1 year
€341k▼
2024 · €665k
Debt > 1 year
€20k
Income taxes
€14k▼
2024 · €28k
Staff costs
€203k▼
2024 · €244k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€1.44M€1.03M▼
Fixed assets21/28€87k€95k▲
Tangible fixed assets22/27€82k€90k▲
Land and buildings22€13k€14k▲
Plant, machinery and equipment23€54k€43k▼
Furniture and vehicles24€14k€33k▲
Financial fixed assets28€5k€5k=
Current assets29/58€1.36M€930k▼
Amounts receivable after more than one year29€40k€40k=
Other amounts receivable291€40k€40k=
Amounts receivable within one year40/41€1.00M€560k▼
Trade receivables40€982k€478k▼
Other amounts receivable41€19k€82k▲
Cash at bank and in hand54/58€316k€329k▲
Deferred charges and accrued income490/1€330€970▲
Equity and liabilities
Total equity and liabilities10/49€1.44M€1.03M▼
Equity10/15€776k€665k▼
Contributions10/11€40k€40k=
Reserves13€736k€625k▼
Non-distributable reserves130/1€4k-
Reserves not available under the articles1311€4k-
Distributable reserves133€732k€625k▼
Amounts payable17/49€668k€360k▼
Amounts payable after more than one year17-€20k
Financial debts170/4-€20k
Amounts payable within one year42/48€665k€341k▼
Current portion of amounts payable after more than one year42€9k€5k▼
Trade debts44€333k€64k▼
Suppliers440/4€333k€64k▼
Taxes, remuneration and social security45€223k€31k▼
Taxes450/3€178k€17k▼
Remuneration and social security454/9€44k€14k▼
Other amounts payable47/48€100k€241k▲
Accrued charges and deferred income492/3€3k-
Income statement
Code20242025
Remuneration, social security and pensions62€244k€203k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€64k€25k▼
Other operating charges640/8€3k€3k▲
Non-recurring operating charges66A-€317k
Gross operating margin9900€504k€589k▲
Operating profit (loss)9901€193k€41k▼
Financial income75/76B-€1k
Recurring financial income75-€1k
Financial charges65/66B€2k€1k▼
Recurring financial charges65€2k€1k▼
Profit (loss) for the period before taxes9903€190k€40k▼
Income taxes67/77€28k€14k▼
Profit (loss) for the period9904€162k€26k▼
Profit (loss) for the period to be appropriated9905€162k€26k▼
Appropriation of the result
Profit (loss) to be appropriated9906€162k€26k▼
Transfer from equity791/2€263k€137k▼
Transfer to equity691/2€62k€26k▼
To other reserves6921€62k€26k▼
Profit to be distributed694/7€363k€137k▼
Return on contributions (dividend)694€263k€137k▼
Directors or managers695€100k-
Social balance
Average headcount (FTE)90873.63.6=
The notes to these accounts (11 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
14-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 14 days late
2025
14-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 14 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 30 days late
2023
22-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 22 days late
2022
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 30 days late
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 30 days late
2020
31-12
Financial
Weakest financial yearnet €23k ▼92%
Net result drops to €23k, the lowest in the series; recovery starts the following year.
30-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
18-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
05-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
18-07
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
no sitting director, no change since 2019
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
01-01-2019
Resigned as Manager
Location & real-estate footprint
Registered office, Maasmechelen · 2 establishment units since 2014
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.
Dokter Haubenlaan(M) 293630 MaasmechelenGround area
453 m²
Building footprint
281 m²
Volume, LiDAR
1,793 m³
2 parcels, Flanders · tallest building 12.1 m, ±3 floors. Linked by address, not a title deed.
2 establishment units
GDW THEUWIS-MATHÉ
since 20142.228.273.904
GDW THEUWIS-MATHÉ
since 20142.228.274.201
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 72004B0799/00N000 | Flanders | 298 m² | 1 · 112 m² | 12.1 m · 3 fl. |
| 73048B0266/00X008 | Flanders | 155 m² | 1 · 169 m² | 11.6 m · 1 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2024 · 1 entry · 1,534 EUR awarded · 1,534 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 1,534 EUR | 1,534 EUR |
Schemes
Vlaams opleidingsverlof (VOV)
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Of 1,020 companies in sector 69103 we hold annual accounts for 611. 408 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded25-03-2014
Fiscal year end31-12
Activities, NACEBEL
69103Activities of bailiffs
Sources
Crossroads Bank for EnterprisesNational Bank · 12 filingsAddress and cadastre registers
Data from official sources, last processed on 18-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
1 entryE-mail:petertheuwis@hotmail.com