MATCH
Dissolution or liquidationThe KBO register records for MATCH the legal situation: dissolution or liquidation; this is today's state according to the register itself, which carries no start date. Dissolved on 10-03-2026, in liquidation; liquidator: Cédric Alter.
Summary
The 2025 annual accounts show negative equity (-€9.7m) and a net result of €2.4m.
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 4188 sector peers (2025).
NBB · sector comparisonPosition among 4188 sector peers
Solvency
better than 5%
← weakest
strongest →
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 08-04-2026, 114 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
114 d early
2024
45 d late
2023
on the day
2022
34 d early
2021
33 d early
2020
51 d early
2019
42 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 33 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed 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 monthsPosition in the running window
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
What became of the directors' other companies?Director track record Who ran this company, and where was it based, on a date before the end?Company as of a date How is the Non-specialised retail sale with food, beverages or tobacco predominating sector doing?Sector figures
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, full schema
Turnover
€97,308▼ 99.9%
2024 · €66.0m
EBIT margin
2418.4%▲ 2376.7pp
2024 · 41.7%
Net result
€2.4m▼ 91.2%
2024 · €27.8m
Working capital
-€7.2m▼ 9.3%
2024 · -€6.5m
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€416.0m▼ 8.2%€379.2m▼ 8.8%€366.7m▼ 3.3%€66.0m▼ 82.0%€97,308▼ 99.9%
Operating result-€6.1m-€9.7m▼ 58.9%-€78.2m▼ 706%€27.5m€2.4m▼ 91.5%
Net result-€6.1m-€9.9m▼ 60.8%-€77.3m▼ 683%€27.8m€2.4m▼ 91.2%
EBIT margin-1.5%▼ 2.2pp-2.6%▼ 1.1pp-21.3%▼ 18.8pp41.7%▲ 63.1pp2418.4%▲ 2376.7pp
Equity€2.6m▼ 30.3%€2.3m▼ 10.1%-€39.9m-€12.2m▲ 69.5%-€9.7m▲ 20.0%
Total assets€171.0m▼ 15.9%€114.8m▼ 32.9%€84.2m▼ 26.7%€17.4m▼ 79.3%€7.2m▼ 58.4%
Debt€165.6m▼ 15.6%€109.7m▼ 33.8%€69.8m▼ 36.4%€23.8m▼ 65.9%€14.1m▼ 40.8%
Working capital-€3.3m▼ 48.9%-€2.8m▲ 14.2%-€4.2m▼ 50.3%-€6.5m▼ 55.0%-€7.2m▼ 9.3%
Staff (FTE)1,508.8▼ 2.8%1,400.5▼ 7.2%1,173.8▼ 16.2%180▼ 84.7%11.6▼ 93.6%
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 91% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €7.2m
Fixed assets
€287,311 ▲ 85.4%
Current assets
€6.9m ▼ 59.7%
Key figures and ratios
Solvency
-134.6%▼
2024 · -70.0%
Current ratio
0.49▼
2024 · 0.72
Debt to equity
-1.45▲
2024 · -1.96
ROA
33.6%▼
2024 · 159.6%
Debt ≤ 1 year
€14.1m▼
2024 · €23.8m
Debt > 1 year
€5,253▼
2024 · €25,368
Income taxes
€2,335▼
2024 · €5,515
Staff costs
€285,451▼
2024 · €15.2m
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 |
|---|---|---|---|---|---|---|
| Operating income70/76A | €473.9m | €460.1m | €418.0m | €135.0m | €4.4m | ▼ 96.7% |
| Turnover70 | €416.0m | €379.2m | €366.7m | €66.0m | €97,308 | ▼ 99.9% |
| Other operating income74 | €54.5m | €53.8m | €50.5m | €11.3m | €368,817 | ▼ 96.7% |
| Non-recurring operating income76A | €3.5m | €27.1m | €838,860 | €57.8m | €4.0m | ▼ 93.2% |
| Operating charges60/66A | €480.1m | €469.8m | €496.3m | €107.5m | €2.1m | ▼ 98.1% |
| Goods for resale, raw materials and consumables60 | €346.7m | €314.4m | €302.6m | €58.7m | €2,873 | ▼ 100.0% |
| Purchases600/8 | €347.9m | €314.1m | €287.9m | €38.2m | €2,873 | ▼ 100.0% |
| Change in stocks: decrease (increase)609 | -€1.2m | €220,375 | €14.7m | €20.4m | - | - |
| Services and other goods61 | €63.8m | €77.5m | €70.8m | €15.1m | €696,176 | ▼ 95.4% |
| Remuneration, social security and pensions62 | €63.7m | €63.8m | €56.4m | €15.2m | €285,451 | ▼ 98.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3.6m | €4.3m | €4.2m | €753,751 | - | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €306,296 | €268,205 | €596,253 | €15.6m | -€951,105 | ▼ 106% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | €10,526 | €489,292 | €2.5m | -€672,105 | - | - |
| Other operating charges640/8 | €1.8m | €2.3m | €1.4m | €1.9m | €545,662 | ▼ 71.0% |
| Non-recurring operating charges66A | €114,244 | €6.8m | €57.7m | €907,040 | €1.5m | ▲ 64.0% |
| Operating profit (loss)9901 | -€6.1m | -€9.7m | -€78.2m | €27.5m | €2.4m | ▼ 91.5% |
| Financial income75/76B | €506,030 | €406,235 | €1.3m | €582,192 | €982,475 | ▲ 68.8% |
| Recurring financial income75 | €506,030 | €406,235 | €1.3m | €582,192 | €982,475 | ▲ 68.8% |
| Income from current assets751 | €11 | €348 | €902,878 | €0 | €982,475 | - |
| Other financial income752/9 | €506,019 | €405,886 | €349,958 | €582,192 | - | - |
| Financial charges65/66B | €512,591 | €541,257 | €262,330 | €341,035 | €899,868 | ▲ 164% |
| Recurring financial charges65 | €512,591 | €541,257 | €262,330 | €341,035 | €899,868 | ▲ 164% |
| Debt charges650 | €458,193 | €469,373 | €241,030 | €284,631 | €172,042 | ▼ 39.6% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651 | - | - | - | - | €718,925 | - |
| Other financial charges652/9 | €54,398 | €71,884 | €21,300 | €56,404 | €8,902 | ▼ 84.2% |
| Profit (loss) for the period before taxes9903 | -€6.1m | -€9.8m | -€77.2m | €27.8m | €2.4m | ▼ 91.2% |
| Income taxes67/77 | €19,538 | €21,081 | €23,661 | €5,515 | €2,335 | ▼ 57.7% |
| Taxes670/3 | €19,538 | €21,081 | €23,661 | €5,515 | €2,335 | ▼ 57.7% |
| Tax adjustments and reversals of tax provisions77 | €0 | €0 | - | - | - | - |
| Profit (loss) for the period9904 | -€6.1m | -€9.9m | -€77.3m | €27.8m | €2.4m | ▼ 91.2% |
| Profit (loss) for the period to be appropriated9905 | -€6.1m | -€9.9m | -€77.3m | €27.8m | €2.4m | ▼ 91.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €171.0m | €114.8m | €84.2m | €17.4m | €7.2m | ▼ 58.4% |
| Formation expenses20 | - | - | - | €0 | €0 | - |
| Fixed assets21/28 | €23.3m | €22.4m | €18.6m | €154,953 | €287,311 | ▲ 85.4% |
| Intangible fixed assets21 | €863,518 | €887,874 | €352,949 | €0 | - | - |
| Tangible fixed assets22/27 | €22.4m | €21.5m | €17.2m | €0 | - | - |
| Land and buildings22 | €12.3m | €8.6m | €7.9m | €0 | - | - |
| Plant, machinery and equipment23 | €1.6m | €4.1m | €2.9m | €0 | - | - |
| Furniture and vehicles24 | €2.2m | €2.0m | €859,417 | €0 | - | - |
| Leasing and similar rights25 | €841,569 | €300,843 | €246,704 | - | - | - |
| Other tangible fixed assets26 | €4.5m | €6.4m | €5.2m | €0 | - | - |
| Assets under construction and advance payments27 | €970,937 | €4,208 | - | - | - | - |
| Financial fixed assets28 | €20,125 | €20,125 | €1.1m | €154,953 | €287,311 | ▲ 85.4% |
| Other financial fixed assets284/8 | €20,125 | €20,125 | €1.1m | €154,953 | €287,311 | ▲ 85.4% |
| Amounts receivable and cash guarantees285/8 | €20,125 | €20,125 | €1.1m | €154,953 | €287,311 | ▲ 85.4% |
| Current assets29/58 | €147.7m | €92.4m | €65.6m | €17.2m | €6.9m | ▼ 59.7% |
| Stocks and contracts in progress3 | €34.9m | €34.7m | €20.0m | €0 | - | - |
| Stocks30/36 | €34.9m | €34.7m | €20.0m | €0 | - | - |
| Raw materials and consumables30/31 | €3,578 | €10,579 | €5,997 | €0 | - | - |
| Goods purchased for resale34 | €34.9m | €34.7m | €20.0m | €0 | - | - |
| Amounts receivable within one year40/41 | €102.3m | €48.2m | €37.0m | €16.9m | €6.1m | ▼ 64.1% |
| Trade receivables40 | €73.5m | €34.5m | €28.0m | €15.2m | €6.0m | ▼ 60.3% |
| Other amounts receivable41 | €28.8m | €13.7m | €9.0m | €1.7m | €24,338 | ▼ 98.6% |
| Cash at bank and in hand54/58 | €10.2m | €9.2m | €8.4m | €323,475 | €877,179 | ▲ 171% |
| Deferred charges and accrued income490/1 | €253,212 | €348,219 | €181,382 | €0 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €171.0m | €114.8m | €84.2m | €17.4m | €7.2m | ▼ 58.4% |
| Equity10/15 | €2.6m | €2.3m | -€39.9m | -€12.2m | -€9.7m | ▲ 20.0% |
| Contributions10/11 | €21.2m | €21.2m | €44.2m | €44.2m | €44.2m | = |
| Capital10 | €500,000 | €500,000 | €1.5m | €1.5m | €1.5m | = |
| Issued capital100 | €500,000 | €500,000 | €1.5m | €1.5m | €1.5m | = |
| Outside capital11 | €20.7m | €20.7m | €42.7m | €42.7m | €42.7m | = |
| Share premium1100/10 | €20.7m | €20.7m | €42.7m | €42.7m | €42.7m | = |
| Reserves13 | €3.1m | €3.1m | €3.1m | €3.1m | €3.1m | = |
| Non-distributable reserves130/1 | €1.5m | €1.5m | €1.5m | €1.5m | €1.5m | = |
| Legal reserve130 | €1.5m | €1.5m | €1.5m | €1.5m | €1.5m | = |
| Reserves not available under the articles1311 | - | - | - | €21,161 | €21,161 | = |
| Other1319 | €21,161 | €21,161 | €21,161 | - | - | - |
| Distributable reserves133 | €1.6m | €1.6m | €1.6m | €1.6m | €1.6m | = |
| Profit (loss) carried forward14 | -€21.7m | -€22.0m | -€87.2m | -€59.5m | -€57.1m | ▲ 4.1% |
| Provisions and deferred taxes16 | €2.8m | €2.8m | €54.3m | €5.8m | €2.9m | ▼ 50.2% |
| Provisions for liabilities and charges160/5 | €2.8m | €2.8m | €54.3m | €5.8m | €2.9m | ▼ 50.2% |
| Pensions and similar obligations160 | €2.0m | €1.5m | €1.0m | €0 | - | - |
| Other liabilities and charges164/5 | €778,974 | €1.3m | €53.3m | €5.8m | €2.9m | ▼ 50.2% |
| Deferred taxes168 | - | - | - | - | €0 | - |
| Amounts payable17/49 | €165.6m | €109.7m | €69.8m | €23.8m | €14.1m | ▼ 40.8% |
| Amounts payable after more than one year17 | €14.7m | €14.5m | €25,368 | €25,368 | €5,253 | ▼ 79.3% |
| Financial debts170/4 | €14.7m | €14.5m | - | - | - | - |
| Leasing and similar obligations172 | €163,229 | - | - | - | - | - |
| Other loans174 | €14.5m | €14.5m | - | - | - | - |
| Other amounts payable178/9 | €25,332 | €25,368 | €25,368 | €25,368 | €5,253 | ▼ 79.3% |
| Amounts payable within one year42/48 | €150.9m | €95.2m | €69.8m | €23.8m | €14.1m | ▼ 40.7% |
| Trade debts44 | €136.3m | €80.7m | €55.6m | €17.0m | €7.9m | ▼ 53.7% |
| Suppliers440/4 | €136.3m | €80.7m | €55.6m | €17.0m | €7.9m | ▼ 53.7% |
| Taxes, remuneration and social security45 | €13.6m | €13.5m | €13.3m | €842,944 | €147,629 | ▼ 82.5% |
| Taxes450/3 | €3.1m | €2.7m | €3.8m | €307,732 | €144,707 | ▼ 53.0% |
| Remuneration and social security454/9 | €10.5m | €10.9m | €9.5m | €535,212 | €2,922 | ▼ 99.5% |
| Other amounts payable47/48 | €1.0m | €957,793 | €814,119 | €6.0m | €6.1m | ▲ 2.0% |
| Accrued charges and deferred income492/3 | - | - | - | €0 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€6.1m | -€9.9m | -€77.3m | €27.8m | €2.4m | ▼ 91.2% |
| + Depreciation and write-downs630 | €3.6m | €4.3m | €4.2m | €753,751 | - | - |
| Operating cash flow (approximation) | -€2.5m | -€5.6m | -€73.0m | €28.5m | €2.4m | ▼ 91.5% |
| Investment in fixed assets (approximation) | - | -€3.4m | -€408,233 | €17.7m | -€132,358 | ▼ 101% |
| Change in cash | - | -€1.1m | -€753,291 | -€8.1m | €553,704 | ▲ 107% |
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
2026
08-04
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
27-03
State Gazette act
Resignations & appointments · End & cessation · MiscellaneousAppointment: Cédric Alter (liquidator) · Net-asset statement · Dissolution8 facts ▸
State Gazette act
Resignations & appointments · End & cessation · Miscellaneous
Appointment: Cédric Alter (liquidator) · Net-asset statement · Dissolution8 facts ▸
- General meeting, 10 mars 2026
- Net-asset statement, 31 décembre 2025
- Dissolution, 10-03-2026
- Liquidation
- Director appointment, Cédric Alter (liquidator)
- Mandate compensation, Cédric Alter
- Director discharge, MATCH
- Statutes amendment
2025
14-09
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 45 days late
2024
31-12
Financial
Back to profitnet €27.8m
Net result €27.8m after 3 loss-making years.
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Weakest financial yearnet -€77.3m
Net result drops to -€77.3m, the lowest in the series.
27-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
28-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
10-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Back to profitnet €3.3m
Net result €3.3m after 2 loss-making years.
31-12
Financial
Equity above €2mEq €3.7m ▲821%
Equity rises from €406,349 to €3.7m.
19-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
Show earlier events
2019
21-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
19-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
21-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 37 acts read
About the unread acts
Of the 37 Belgian State Gazette acts we know for this company, 1 has been read. The other 36 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 office holder, last change in 2026
Other functions 1
Cédric Alter
CurrentLiquidator · since 10-03-2026
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
36 of this company's 37 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, Seneffe · 1 establishment unit since 1985
Ground area
3.2 ha
Building footprint
1.9 ha
Volume, LiDAR
168,301 m³
2 parcels, Wallonia · tallest building 12.3 m, ±3 floors. Linked by address, not a title deed.
54
companies at this address
See who is registered here
1 establishment unit
MATCH
since 19852.150.863.449
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52412A0642/00X000 | Wallonia | 3.1 ha | 1 · 1.9 ha | 12.3 m · 3 fl. |
| 52003B0364/00N000 | Wallonia | 1,012 m² | 1 · 244 m² | - |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
1 person since 2026, 1 in office
- Other function
| Name | Functions and periods |
|---|---|
| Cédric Alter |
|
Structure & network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
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Recognitions · licences · registrations
Dual-learning approval
4 endedWinkelbediende (so)
Winkelmedewerker (vwo)
Winkelmedewerker duaal (so)
Winkelbediende (so)
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Identification & contact
Identification
Legal formPublic limited company
Founded28-03-1985
Fiscal year end31-12
Activities, NACEBEL 2025
47110Non-specialised retail sale with food, beverages or tobacco predominating
56112Limited-service restaurants, excluding mobile food services
Scores and ratios are computed by Checked and are not a credit decision.