Equity
€50,375 ▼ 58.1%
HERMATH paid out €120,271 in dividends. That is 238% of the 2025 profit.
HERMATH
Overview
Lifetime
4 annual accounts with figures on one time axispeak €90,602 (2024)
€75,985▼ 16.1%
peak €63,695 (2024)
€50,501▼ 20.7%
peak €120,145 (2024)
€50,375▼ 58.1%
€132,972▲ 511%
Board1 name since 2022
1 directorHERMAN Mathieu Stéphane Jean René
Documentsfilings and deeds
24-03-2026129 days before the deadline
2025micro format
Gross margin from €90,602 to €75,985Dividend €120,271Equity from €120,145 to €50,375Debts from €21,765 to €132,972Cash from €20,767 to €40,926
Key points
from the 2025 annual accountsTurnover
≈ €160,000 estimated
The micro format states no turnover.
Debts
€132,972 ▲ 511%
Debts rose by €111,206 in 2025. A dividend stands under other debts on the balance sheet date until it is paid.
Liquidity
1.20 was 4.97 in 2024
Short-term debts rose from €21,765 to €132,962.
Filings
4 annual accounts since 2022
The last four annual accounts were filed 38 to 129 days before the end of the period.
Starting capital
€3,000 100 shares
Checked score
92
Excellent
Financially stronger than 36% of micro companies in architecture and engineering (NACE 71)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 14,829 companies (NACE 71, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.1%
01-2025: 0.1%● unchanged vs 12-2024lowest value
02-2025: 0.1%● unchanged vs 01-2025lowest value
03-2025: 0.1%● unchanged vs 02-2025
04-2025: 0.1%● unchanged vs 03-2025
05-2025: 0.1%● unchanged vs 04-2025
06-2025: 0.1%● unchanged vs 05-2025
07-2025: 0.1%● unchanged vs 06-2025
08-2025: 0.1%● unchanged vs 07-2025
09-2025: 0.1%● unchanged vs 08-2025
10-2025: 0.1%● unchanged vs 09-2025
11-2025: 0.1%● unchanged vs 10-2025
12-2025: 0.1%● unchanged vs 11-2025
01-2026: 0.1%● unchanged vs 12-2025
02-2026: 0.1%● unchanged vs 01-2026highest value
03-2026: 0.1%● unchanged vs 02-2026
04-2026: 0.1%● unchanged vs 03-2026
05-2026: 0.1%● unchanged vs 04-2026
06-2026: 0.1%● unchanged vs 05-2026
07-2026: 0.1%● unchanged vs 06-2026
08-2026: 0.1%● unchanged vs 07-2026
09-2026: 0.1%● unchanged vs 08-2026
10-2026: 0.1%● unchanged vs 09-2026
11-2026: 0.1%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
lowers risk
Sector: Architectural and engineering activities; technical testing and analysis (NACE 71)
Liquidity: current ratio 1.20, cash €40,926
Size: total assets €183,347
Figures for financial year 2025 (filed on 24-03-2026)
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 71, micro). It does better than 28% of them on solvency, 19% on liquidity, 88% on profitability and 9% on growth.
The bankruptcy probability was computed on 10-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 7,976 companies had the same profile as HERMATH has now. Each dot stands for 20 companies, two years later.
94.3%
were still trading
1.8%
stopped another way
3.6%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of HERMATH itself is lower: 0.1% within 12 months. It rests on far more data about HERMATH than the profile alone.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 7,976 companies, not a prediction for HERMATH. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €4,500 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.2 (4.97 in 2024), below the usual 1.5. Short-term debt is 72.5% and cash 22.3% of total assets. 72.5% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
5 signals, none raises the risk
Five signals.
lowers riskneutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-03-2026, 129 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
129 days early
2024
71 days early
2023
64 days early
2022
38 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 4 accounts on average 76 days before the deadline. In the sector (NACE 71), the median for financial year 2024 was 8 days before the deadline, and 34% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 25 May (3 of the last 4 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0788980776
Incorporation
Founding capital of €3,000, 100 shares · Founder: HERMAN Mathieu Stéphane Jean René (comparant) · Appointment: HERMAN Mathieu Stéphane Jean René (director) · published on 01-08-2022 · Gazette deed
First establishment
Avenue de la Faisanderie 13, Rixensart
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| HERMATH Rixensart | €183,347 | €75,985 | 27.5% | - |
| BESD Dour | €178,236 | €78,746 | 69.2% | - |
| Prodotto Hamme (Vl.) | €198,172 | €74,853 | 58.3% | - |
| ABC ENGINEERING & MAINTENANCE Temse | €199,907 | €77,825 | 87.4% | - |
| MOSATECH Maaseik | €186,127 | €83,079 | 94.5% | - |
| EMA Engineering Antwerp | €197,984 | €71,440 | 91.2% | - |
| Punch Projects Londerzeel | €195,369 | €84,705 | 95.5% | - |
These companies have the same main activity as HERMATH: engineering and related technical consultancy, excluding land surveyors (NACE 71121). They are comparable in size and age: total assets between €178,000 and €200,000, founded in 2022.
Official details
Source: KBO- Status
- Active since 28-07-2022Normal situation
- Activity
- Engineering and related technical consultancy, excluding land surveyorsNACE 71121and 5 others
- Establishment unit
- 2.333.831.4801332 Rixensart, since 28-07-2022
- Financial year end
- 31 December
- Peppol
- Reachable since 04-11-2025
Annual accounts 2025
- €75,985▼ 16.1%
- €50,501▼ 20.7%
- €50,375▼ 58.1%
- €183,347▲ 29.2%
- Filing
- Filed on 24-03-2026, 129 days before the end of the filing period
Insights on HERMATH
HERMATH files the micro format. That format states no turnover. The gross margin rose from €11,652 in 2022 to €75,985 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Financials
Annual accounts 2025
micro format, filed on 24-03-2026, 129 days before the deadline€75,985
▼ 16.1%
€65,080
▼ 20.3%
€50,501
▼ 20.7%
€27,116
▼ 68.6%
27.5%
▼ 57.2 percentage points
1.20
▼ 3.77
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €160,000. Estimated: probably between €130,000 and €220,000.
Balance sheet
balance sheet total €183,347 on 31-12-2025What the company ownsHow it is paid for
in euro
in euro
Position in the sector
27.5%
Higher than 27% of 11,794 companies in 2025.
1.20
Higher than 28% of 11,521 companies in 2025.
27.5%
Higher than 75% of 11,605 companies in 2025.
HERMATH
Middle half of the sector
80% of the sector
Micro accounts in architecture and engineering (NACE 71)
Net result: top quarter · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet: assets | |||||
20/58 |
183,347 | 141,910 | 106,429 | 48,411 | |
21/28 |
23,269 | 33,723 | 29,045 | 25,662 | |
22/27 |
22,269 | 32,723 | 28,045 | 25,662 | |
23 |
289 | 439 | 1,123 | 1,848 | |
24 |
21,317 | 32,283 | 26,922 | 23,814 | |
26 |
663 | - | - | - | |
28 |
1,000 | 1,000 | 1,000 | - | |
29/58 |
160,078 | 108,187 | 77,383 | 22,749 | |
40/41 |
33,716 | 48,117 | 38,997 | 14,375 | |
40 |
32,137 | 45,769 | 38,997 | 14,375 | |
41 |
1,579 | 2,348 | - | - | |
50/53 |
74,000 | 34,299 | 6,907 | - | |
54/58 |
40,926 | 20,767 | 27,005 | 5,079 | |
490/1 |
11,435 | 5,004 | 4,474 | 3,295 | |
| Balance sheet: equity and liabilities | |||||
10/49 |
183,347 | 141,910 | 106,429 | 48,411 | |
10/15 |
50,375 | 120,145 | 57,283 | 9,907 | |
10/11 |
3,000 | 3,000 | 3,000 | 3,000 | |
13 |
47,375 | 54,283 | 54,283 | 6,907 | |
133 |
47,375 | 54,283 | 54,283 | 6,907 | |
14 |
- | 62,862 | - | - | |
17/49 |
132,972 | 21,765 | 49,146 | 38,504 | |
42/48 |
132,962 | 21,765 | 49,146 | 38,504 | |
44 |
1,615 | 1,573 | 903 | 470 | |
440/4 |
1,615 | 1,573 | 903 | 470 | |
45 |
9,780 | - | 14,019 | 4,150 | |
450/3 |
9,780 | - | 14,019 | 4,150 | |
47/48 |
121,567 | 20,193 | 34,224 | 33,883 | |
492/3 |
10 | - | - | - | |
| Income statement | |||||
9900 |
75,985 | 90,602 | 74,163 | 11,652 | |
630 |
9,694 | 8,905 | 7,325 | 1,721 | |
640/8 |
400 | - | - | - | |
66A |
811 | - | - | - | |
9901 |
65,080 | 81,697 | 66,839 | 9,932 | |
75/76B |
92 | 73 | 0 | - | |
75 |
92 | 73 | 0 | - | |
65/66B |
153 | 163 | 56 | 7 | |
65 |
153 | 163 | 56 | 7 | |
9903 |
65,019 | 81,608 | 66,782 | 9,925 | |
67/77 |
14,518 | 17,913 | 19,407 | 3,017 | |
9904 |
50,501 | 63,695 | 47,375 | 6,907 | |
9905 |
50,501 | 63,695 | 47,375 | 6,907 | |
| Appropriation of the result | |||||
9906 |
113,363 | 63,695 | 47,375 | 6,907 | |
14P |
62,862 | - | - | - | |
791/2 |
6,907 | - | - | - | |
691/2 |
- | - | 47,375 | 6,907 | |
6921 |
- | - | 47,375 | 6,907 | |
694/7 |
120,271 | 833 | - | - | |
694 |
120,271 | 833 | - | - | |
| Document | |||||
The notes to these accounts have 8 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 24-03-2026.
Filings
each dot is a set of accounts, on the day it reached the National BankKey figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| 74,775 | 90,602 | 74,163 | 11,652 | ||
| 60,196 | 72,600 | 54,700 | 8,628 | ||
| 1,349 | 13,582 | 10,708 | 27,383 | ||
| 20,159 | -6,238 | 21,926 | - | ||
| 27,116 | 86,422 | 28,237 | -15,755 | ||
| 27.5% | 84.7% | 53.8% | 20.5% | ||
| 1.20 | 4.97 | 1.57 | 0.59 | ||
| 2.64 | 0.18 | 0.86 | 3.89 | ||
| 100.3% | 53.0% | 82.7% | 69.7% | ||
| 27.5% | 44.9% | 44.5% | 14.3% | ||
| over 100 | over 100 | over 100 | over 100 |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Tangible fixed assets | €1,349 | €13,582 | €9,708 | €27,383 |
| Financial fixed assets | - | - | €1,000 | - |
| €9,694 | €8,905 | €7,325 | €1,721 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Insights on HERMATH
The operating result for 2025 is 20% lower than in 2024 and the lowest since 2022.
Debt's share of the balance-sheet total rises from 15.3% to 72.5%. Equity is lower and debt is higher.
Board & ownership
Board
1 director, since incorporationDirector (not named in the articles)
appointed by deed of 01-08-2022
term without a fixed end
listed in the 2025 annual accounts, filed on 24-03-2026
- Signing authorityThe articles say who may bind the company, for example by signing a contract.
- “4-Administrateur non statutaire L’assemblée décide de fixer le nombre d’administrateurs à 1. Est appelé aux fonctions d’administrateurs non…”deed of 01-08-2022
Mandates through the years
1 name, the dashed line is todayHERMAN Mathieu Stéphane Jean René
Director (not named in the articles)
Director (not named in the articles)
Board
Mandates as a list
- HERMAN Mathieu Stéphane Jean René
- Director (not named in the articles), appointed by deed of 01-08-2022, still in office
Control
Capital
- Contribution
- €3,000
- Shares
- 100
- Contribution per share
- €30
- Equity per share
- €504 in 2025
- Source
- deed of 01-08-2022
Articles of association
deed of 01-08-2022 (in French)- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimited
- Kind of sharesThe articles set which classes of shares exist and what rights each class carries.
- 100 shares
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Third Friday of May at 18:00
- Statutory auditorA statutory auditor is a registered auditor who checks the annual accounts. Small companies need not have one. According to the deed, the legal criteria do not require one here.
- No statutory auditor
Shareholders
At incorporation
deed of 01-08-2022 ↗
- HERMAN Mathieu Stéphane Jean René 100 shares (100%) · €3,000 in cash
Network & group
No group
HERMATH has no parent and no holdings in its annual accounts. HERMAN Mathieu Stéphane Jean René is the only director. HERMATH shares no director with another company.
Timeline
Timeline
11 events since 2022Filings
Financial
Establishments
20222023202420252026
Deadline for the 2026 accounts: 31-07-2027
2026
Annual accounts 2025 filed PDFmicro format · 129 days before the deadline
2025
Registered in the Peppol Directory Reachable for e-invoices through 0208:0788980776
Annual accounts 2024 filed PDFmicro format · 71 days before the deadline
2024
Highest result from 2022 to 2025 net €63,695 ▲34.4% The operating result of €81,697 and the net result of €63,695 are both a record.
Liquidity more than triples current ratio 4.97 The current ratio rises from 1.57 to 4.97. Short-term debt falls from €49,146 to €21,765.
Equity above €100,000 equity €120,145 ▲110% With a profit in every financial year since 2022, equity grows to €120,145.
Annual accounts 2023 filed PDFmicro format · 64 days before the deadline
2023
Liquidity more than doubled current ratio 1.57 The current ratio rises from 0.59 to 1.57.
Annual accounts 2022 filed PDFmicro format · 38 days before the deadline
2022
IncorporationFounding capital of €3,000, 100 shares · Founder: HERMAN Mathieu Stéphane Jean René (comparant) · Appointment: HERMAN Mathieu Stéphane Jean René (director) · published on 01-08-20225 points ▸
- Founder, HERMAN Mathieu Stéphane Jean René (comparant)
- Founding capital, €3,000, 100 shares
- Registered office clause, avenue de la Faisanderie 13, 1332 Rixensart (section de Genval)
- Board rule, 1
- Director appointment, HERMAN Mathieu Stéphane Jean René (director (not named in the articles))
- The deed holds 6 more points.
First establishment Avenue de la Faisanderie 13, Rixensart
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
History
On 28 July 2022, HERMATH was incorporated as a private limited company by one natural person, with a starting capital of €3,000.12 HERMAN Mathieu Stéphane Jean René is director of the company, appointed by deed of 01-08-2022.2 Total assets went from €48,411 in 2022 to €183,347 in 2025.3
Company details
Identity
- Enterprise number
- 0788.980.776
- VAT number
- BE 0788.980.776
- Peppol ID
- 0208:0788980776
- Other Peppol ID
- 9925:BE0788980776
- Legal form
- Private limited company
- Status
- Active, normal situation
- Founded
- 28-07-2022
- Financial year
- ends on 31 December
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Third Friday of May at 18:00deed of 01-08-2022 (in French)
- Website
- www.hermath.be
- Peppol
- Reachable since 04-11-2025Follow this company and you will hear the next morning if it leaves the Peppol register.
- Name
- HERMATH in French
- Entity type
- Legal entity
- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimiteddeed of 01-08-2022 (in French)
Activities
NACEBEL 202571121
Engineering and related technical consultancy, excluding land surveyors main activity
85592
Vocational training
Codes under NACEBEL 2008
71121
Engineering activities main activity
33110
Repair, maintenance and installation of machinery and equipment
43211
Specialised construction activities
43222
Specialised construction activities
74909
Other professional, scientific and technical activities
85592
Vocational training
- PurposeThe purpose describes the activities the company may carry out under its articles.
- “La réalisation de prestations de gestion ou de management; La consultance et la prestation de services dans le domaine de l’ingénierie du…”deed of 01-08-2022 (in French)
9 activities
- La réalisation de prestations de gestion ou de management
- La consultance et la prestation de services dans le domaine de l’ingénierie du bâtiment au sens le plus large ainsi que dans les domaines liés à l’environnement,au développement durable et à la mobilité
- L’organisation d’évènements,de conférences,de séminaires,de salons,de congrès et de formations
- L’expertise en génie civile et en stabilité,en acoustique et technique spéciales (chauffage,électricité,ventilation,fluides)
- L’élaboration d’audits énergétiques,la certification de biens,le conseil en matériaux,les bilans carbone et énergies grises,les calculs de performances énergétiques,les simulations thermiques te de migration de vapeur d’eau
- La réalisation de tests et mesures relatifs aux aspects énergétiques des bâtiments (thermographie,infiltrométrie,recherches par sondage destructifs et non-destructifs,)
- Les missions de rédaction d’ouvrages,d’édition de livres,revues et articles et de recherche appliquée au bâtiment ainsi que l’enseignement de sujets en rapport direct et indirect avec les activités de la société
- La conception architecturale,l’expertise technique en solutions innovantes et choix de matériaux pour toute rénovation partielle,profonde et/ou nouvelle construction en ce compris les solutions pour l’aménagement intérieur et la décoration
- La coordination,la gestion technique et financière de projets et de chantiers ainsi que la maîtrise d’ouvrage déléguée et les missions confiées aux coordinateurs de chantiers (CSS)
Registered office and establishments
1 establishment| Establishment | Since | Unit number |
|---|---|---|
| Avenue de la Faisanderie 13 registered office 1332 Rixensart | 28-07-2022 | 2.333.831.480 |
Buildings and parcels at the address
- Ground area
- 546 m²
- Buildings
- 107 m²
- Volume, LiDAR
- 744 m³
- Tallest building
- 9.1 m
Buildings to scale, each on its own parcel
Parcels
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 25033A0078/00H000 | 546 m² | 1 · 107 m² | 9.1 m · 2 |
Contact
E-mail
mathieu@hermath.be
Invoicing and payment
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0788.980.776