GLASMATHIEU
ActiveSummary
GLASMATHIEU has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €189k and a net result of €23k. Equity is growing by ~20.1% per year across the filed fiscal years. Its solvency ranks better than 37% of 27965 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability74▼-3
Solvency60▲+6
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €12k at 30 days acceptable
Liquidity tight (current ratio 1.45 against 1.33 in 2024; short-term debt: 16.2% and cash: 0% of total assets), and 64.7% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← 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
35.3%
Return on assets
4.3%
Age of the figures
15 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 · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 27-12-2025, 35 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
35 d early
2024
6 d early
2023
1 d early
2022
13 d early
2021
3 d early
2020
2 d early
2019
3 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 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close25-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
€173k
EBIT margin
6.7%
Net result
€23k▼ 39.1%
2024 · €37k
Working capital
€39k▲ 8.9%
2024 · €35k
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
Turnover€173k
Operating result€71€12k▲ 16,103%€71k▲ 515%€64k▼ 9.7%€40k▼ 36.9%
Net result€99€10k▲ 9,803%€54k▲ 449%€37k▼ 30.3%€23k▼ 39.1%
EBIT margin6.7%
Equity€65k▲ 0.2%€75k▲ 15.1%€128k▲ 72.0%€166k▲ 29.2%€189k▲ 13.7%
Total assets€121k▲ 20.7%€544k▲ 349%€597k▲ 9.8%€569k▼ 4.7%€535k▼ 5.9%
Debt€56k▲ 58.1%€469k▲ 736%€469k▼ 0.1%€403k▼ 14.0%€347k▼ 14.0%
Working capital€61k▼ 0.9%€11k▼ 81.2%€42k▲ 271%€35k▼ 16.3%€39k▲ 8.9%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 37% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €535k
Fixed assets
€410k ▼ 3.7%
Current assets
€125k ▼ 12.4%
Equity and liabilities €535k
Equity
€189k ▲ 13.7%
Debt
€347k ▼ 14.0%
Debt's share of the balance-sheet total falls from 70.8% to 64.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€59k▼
2024 · €83k
Cash flow
€42k▼
2024 · €56k
Current ratio
1.45▲
2024 · 1.33
Quick ratio
1.41▲
2024 · 1.32
Debt to equity
1.84▼
2024 · 2.43
ROE
12.1%▼
2024 · 22.6%
ROA
4.3%▼
2024 · 6.6%
Interest coverage
8.90▼
2024 · 11.62
Debt ≤ 1 year
€87k▼
2024 · €108k
Debt > 1 year
€256k▼
2024 · €293k
Income taxes
€11k▼
2024 · €20k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | - | €173k | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | €150k | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2k | €12k | €15k | €19k | €19k | ▲ 0.8% |
| Other operating charges640/8 | - | €5k | €3k | €3k | €3k | ▲ 3.6% |
| Non-recurring operating charges66A | - | €1k | €621 | €295 | €53 | ▼ 82.0% |
| Gross operating margin9900 | €3k | €30k | €90k | €86k | €62k | ▼ 27.4% |
| Operating profit (loss)9901 | €71 | €12k | €71k | €64k | €40k | ▼ 36.9% |
| Financial income75/76B | - | €426 | €43 | €662 | €642 | ▼ 3.0% |
| Recurring financial income75 | €232 | €426 | €43 | €662 | €642 | ▼ 3.0% |
| Financial charges65/66B | - | €2k | €8k | €7k | €7k | ▼ 6.5% |
| Recurring financial charges65 | €83 | €2k | €8k | €7k | €7k | ▼ 6.5% |
| Profit (loss) for the period before taxes9903 | €220 | €10k | €63k | €57k | €34k | ▼ 40.3% |
| Income taxes67/77 | €121 | €128 | €9k | €20k | €11k | ▼ 42.5% |
| Profit (loss) for the period9904 | €99 | €10k | €54k | €37k | €23k | ▼ 39.1% |
| Profit (loss) for the period to be appropriated9905 | €99 | €10k | €54k | €37k | €23k | ▼ 39.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €121k | €544k | €597k | €569k | €535k | ▼ 5.9% |
| Fixed assets21/28 | €6k | €449k | €443k | €426k | €410k | ▼ 3.7% |
| Tangible fixed assets22/27 | €4k | €447k | €443k | €426k | €410k | ▼ 3.7% |
| Land and buildings22 | - | €447k | €432k | €417k | €406k | ▼ 2.8% |
| Plant, machinery and equipment23 | - | €506 | €2k | €2k | €1k | ▼ 47.4% |
| Furniture and vehicles24 | - | €181 | €9k | €6k | €3k | ▼ 50.3% |
| Financial fixed assets28 | €2k | €2k | - | - | - | - |
| Current assets29/58 | €116k | €95k | €154k | €143k | €125k | ▼ 12.4% |
| Stocks and contracts in progress3 | €12k | €7k | €3k | €586 | €3k | ▲ 427% |
| Stocks30/36 | - | €7k | €3k | €586 | €3k | ▲ 427% |
| Amounts receivable within one year40/41 | €71k | €77k | €129k | €127k | €117k | ▼ 8.4% |
| Trade receivables40 | - | €76k | €125k | €127k | €114k | ▼ 10.9% |
| Other amounts receivable41 | - | €1k | €4k | - | €3k | - |
| Cash at bank and in hand54/58 | €30k | €5k | €17k | €10k | €40 | ▼ 99.6% |
| Deferred charges and accrued income490/1 | - | €5k | €4k | €5k | €5k | ▲ 3.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €121k | €544k | €597k | €569k | €535k | ▼ 5.9% |
| Equity10/15 | €65k | €75k | €128k | €166k | €189k | ▲ 13.7% |
| Contributions10/11 | - | €12k | €12k | €12k | €12k | = |
| Reserves13 | €90k | €90k | €116k | €154k | €176k | ▲ 14.9% |
| Non-distributable reserves130/1 | - | €2k | €2k | - | - | - |
| Reserves not available under the articles1311 | - | €2k | €2k | - | - | - |
| Distributable reserves133 | - | €88k | €114k | €154k | €176k | ▲ 14.9% |
| Profit (loss) carried forward14 | €-38k | €-28k | - | - | - | - |
| Amounts payable17/49 | €56k | €469k | €469k | €403k | €347k | ▼ 14.0% |
| Amounts payable after more than one year17 | - | €383k | €354k | €293k | €256k | ▼ 12.5% |
| Financial debts170/4 | - | €383k | €354k | €293k | €256k | ▼ 12.5% |
| Other amounts payable178/9 | - | - | - | €300 | €300 | = |
| Amounts payable within one year42/48 | €55k | €83k | €112k | €108k | €87k | ▼ 19.5% |
| Current portion of amounts payable after more than one year42 | - | €29k | €30k | €30k | €22k | ▼ 26.5% |
| Trade debts44 | €8k | €10k | €16k | €6k | €5k | ▼ 16.6% |
| Suppliers440/4 | - | €10k | €16k | €6k | €5k | ▼ 16.6% |
| Taxes, remuneration and social security45 | - | €128 | €12k | €22k | €2k | ▼ 93.3% |
| Taxes450/3 | - | €128 | €12k | €22k | €2k | ▼ 93.3% |
| Other amounts payable47/48 | - | €44k | €55k | €50k | €59k | ▲ 17.6% |
| Accrued charges and deferred income492/3 | - | €3k | €3k | €2k | €3k | ▲ 37.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €99 | €10k | €54k | €37k | €23k | ▼ 39.1% |
| + Depreciation and write-downs630 | €2k | €12k | €15k | €19k | €19k | ▲ 0.8% |
| Operating cash flow (approximation) | €2k | €22k | €69k | €56k | €42k | ▼ 25.8% |
| Investment in fixed assets (approximation) | - | €-456k | €-9k | €-2k | €-3k | ▼ 72.3% |
| Change in cash | - | €-25k | €12k | €-7k | €-10k | ▼ 32.7% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2025
27-12
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
25-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-06
Financial
Equity above €150kEq €166k ▲29.2%
4 profitable years in a row build equity to €166k.
30-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-06
Financial
Highest result since 2019net €54k ▲449%
Operating result €71k, net result €54k, both a record.
30-06
Financial
Equity above €100kEq €128k ▲72%
3 profitable years in a row build equity to €128k.
18-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
28-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-06
Financial
Back to profitnet €99
Net result €99 after one loss-making year.
29-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-06
Financial
Weakest financial yearnet €-49k
Net result drops to €-49k, the lowest in the series; recovery starts the following year.
28-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Show earlier events
2019
28-01
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
17-01
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
16-01
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.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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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, Antwerpen · 1 establishment unit since 2014
Ground area
1,764 m²
Building footprint
261 m²
Volume, LiDAR
3,649 m³
Parcel 11313B0930/00E007, Flanders · tallest building 16.8 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
GLASMATHIEU
since 20142.242.520.630
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11313B0930/00E007 | Flanders | 1,764 m² | 1 · 260 m² | 16.8 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.
Similar companies · same sector, comparable size
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TROVAN SCHRIJNWERKERIJ
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Of 20,028 companies in sector 43320 we hold annual accounts for 9,133. 7,459 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded04-12-2014
Fiscal year end30-06
Activities, NACEBEL 2025
43320Joinery installation
43343Specialised construction activities
Scores and ratios are computed by Checked and are not a credit decision.