MATCO
ActiveSummary
MATCO has been active since 1983 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €5.9m and a net result of -€758,964. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 29% of 5071 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability24▲+1
Solvency52▼-4
Growth73▲+2
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €320,000 at 30 days acceptable
Liquidity tight (current ratio 1.2 against 1.19 in 2024; short-term debt: 31.8% and cash: 3.1% of total assets), and 73.1% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% 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
26.9%
Return on assets
-3.5%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€758,964
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 15-07-2026, 16 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
16 d early
2024
30 d early
2023
8 d early
2022
56 d early
2021
151 d early
2020
61 d early
2019
107 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 61 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% 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. Usually files around 1 July (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
€30.3m▲ 23.9%
2024 · €24.4m
EBIT margin
0.9%▲ 0.7pp
2024 · 0.2%
Net result
-€758,964▲ 4.5%
2024 · -€794,355
Working capital
€1.4m▲ 13.8%
2024 · €1.2m
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€18.8m▲ 18.7%€26.8m▲ 42.8%€23.8m▼ 11.4%€24.4m▲ 2.8%€30.3m▲ 23.9%
Operating result€440,500▲ 142%€41,414▼ 90.6%€69,359▲ 67.5%€57,377▼ 17.3%€287,213▲ 401%
Net result€352,705within the sector's middle half▲ 297%-€112,498below the sector's middle half-€195,859below the sector's middle half▼ 74.1%-€794,355below the sector's middle half▼ 306%-€758,964below the sector's middle half▲ 4.5%
EBIT margin2.3%▲ 1.2pp0.2%▼ 2.2pp0.3%▲ 0.1pp0.2%▼ 0.1pp0.9%▲ 0.7pp
Equity€1.0mwithin the sector's middle half▲ 47.0%€909,282within the sector's middle half▼ 11.0%€713,423within the sector's middle half▼ 21.5%€6.6mabove the sector's middle half▲ 828%€5.9mabove the sector's middle half▼ 11.5%
Total assets€8.9mwithin the sector's middle half▲ 27.2%€9.8mwithin the sector's middle half▲ 10.2%€9.0mwithin the sector's middle half▼ 7.7%€21.3mabove the sector's middle half▲ 137%€21.8mabove the sector's middle half▲ 2.1%
Debt€7.5m▲ 27.1%€8.6m▲ 14.1%€8.0m▼ 6.0%€14.5m▲ 80.3%€15.7m▲ 8.6%
Working capital-€683,996below the sector's middle half▲ 41.4%-€847,447below the sector's middle half▼ 23.9%-€807,050below the sector's middle half▲ 4.8%€1.2mwithin the sector's middle half€1.4mwithin the sector's middle half▲ 13.8%
Solvency11.5%below the sector's middle half▲ 1.6pp9.3%below the sector's middle half▼ 2.2pp7.9%below the sector's middle half▼ 1.4pp31.0%within the sector's middle half▲ 23.1pp26.9%within the sector's middle half▼ 4.1pp
Current ratio0.90below the sector's middle half▲ 0.130.89below the sector's middle half=0.89below the sector's middle half=1.19within the sector's middle half▲ 0.301.20below the sector's middle half▲ 0.01
Return on assets (ROA)4.0%within the sector's middle half▲ 2.7pp-1.2%below the sector's middle half▼ 5.1pp-2.2%below the sector's middle half▼ 1.0pp-3.7%below the sector's middle half▼ 1.6pp-3.5%below the sector's middle half▲ 0.2pp
Staff (FTE)14.4within the sector's middle half▲ 5.1%14.9within the sector's middle half▲ 3.5%13.7within the sector's middle half▼ 8.1%13.7within the sector's middle half=17.2within the sector's middle half▲ 25.5%
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 401% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €21.8m
Fixed assets
€13.5m ▼ 2.6%
Current assets
€8.3m ▲ 10.8%
Equity and liabilities €21.8m
Equity
€5.9m ▼ 11.5%
Provisions
€175,375 ▼ 19.8%
Debt
€15.7m ▲ 8.6%
Debt's share of the balance-sheet total rises from 68.0% to 72.3%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€747,229▲
2024 · €579,697
Cash flow
-€298,948▼
2024 · -€272,035
Quick ratio
0.74▲
2024 · 0.73
Debt to equity
2.69▲
2024 · 2.19
ROE
-13.0%▼
2024 · -12.0%
Interest coverage
0.72▲
2024 · 0.69
Debt ≤ 1 year
€6.9m▲
2024 · €6.3m
Debt > 1 year
€8.3m▲
2024 · €7.8m
Income taxes
€2,252▲
2024 · €2,015
Staff costs
€1.7m▲
2024 · €1.4m
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 | - | €26.9m | €23.9m | €25.5m | €31.7m | ▲ 24.3% |
| Turnover70 | €18.8m | €26.8m | €23.8m | €24.4m | €30.3m | ▲ 23.9% |
| Change in stocks of work in progress, finished goods and contracts in progress71 | - | - | - | €32,570 | -€46,882 | ▼ 244% |
| Other operating income74 | - | €87,962 | €136,927 | €587,569 | €1.4m | ▲ 137% |
| Non-recurring operating income76A | - | €16,004 | €25,510 | €406,709 | €34,715 | ▼ 91.5% |
| Operating charges60/66A | - | €26.9m | €23.9m | €25.4m | €31.4m | ▲ 23.5% |
| Goods for resale, raw materials and consumables60 | - | €21.7m | €18.6m | €18.9m | €23.3m | ▲ 23.5% |
| Purchases600/8 | - | €22.8m | €18.7m | €18.7m | €23.6m | ▲ 26.0% |
| Change in stocks: decrease (increase)609 | - | -€1.1m | -€94,566 | €111,586 | -€324,694 | ▼ 391% |
| Services and other goods61 | - | €2.9m | €3.3m | €3.9m | €5.5m | ▲ 41.2% |
| Remuneration, social security and pensions62 | - | €1.6m | €1.4m | €1.4m | €1.7m | ▲ 21.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €498,622 | €549,755 | €559,309 | €522,320 | €460,016 | ▼ 11.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €5,171 | €58,250 | ▲ 1,026% |
| Other operating charges640/8 | - | €116,517 | €9,088 | €46,540 | €226,261 | ▲ 386% |
| Non-recurring operating charges66A | - | €84,927 | €19,067 | €669,039 | €114,939 | ▼ 82.8% |
| Operating profit (loss)9901 | €440,500 | €41,414 | €69,359 | €57,377 | €287,213 | ▲ 401% |
| Financial income75/76B | - | €13 | €2,021 | €101,876 | €174,792 | ▲ 71.6% |
| Recurring financial income75 | €57,858 | €13 | €2,021 | €101,876 | €174,792 | ▲ 71.6% |
| Other financial income752/9 | - | €13 | €2,021 | €101,876 | €174,792 | ▲ 71.6% |
| Financial charges65/66B | - | €193,336 | €304,488 | €993,401 | €1.3m | ▲ 27.0% |
| Recurring financial charges65 | €149,602 | €193,336 | €304,488 | €993,401 | €1.3m | ▲ 27.0% |
| Debt charges650 | €80,097 | €119,903 | €269,549 | €844,782 | €1.0m | ▲ 23.6% |
| Other financial charges652/9 | - | €73,433 | €34,939 | €148,619 | €218,281 | ▲ 46.9% |
| Profit (loss) for the period before taxes9903 | €348,756 | -€151,908 | -€233,109 | -€834,148 | -€800,098 | ▲ 4.1% |
| Transfer from deferred taxes780 | - | €41,136 | €41,136 | €41,808 | €43,386 | ▲ 3.8% |
| Income taxes67/77 | €25,938 | €1,727 | €3,887 | €2,015 | €2,252 | ▲ 11.7% |
| Taxes670/3 | - | €1,727 | €3,887 | €2,015 | €2,252 | ▲ 11.7% |
| Profit (loss) for the period9904 | €352,705 | -€112,498 | -€195,859 | -€794,355 | -€758,964 | ▲ 4.5% |
| Transfer from tax-exempt reserves789 | - | €123,409 | €123,409 | €125,425 | €130,159 | ▲ 3.8% |
| Profit (loss) for the period to be appropriated9905 | €442,364 | €10,911 | -€72,450 | -€668,930 | -€628,805 | ▲ 6.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €8.9m | €9.8m | €9.0m | €21.3m | €21.8m | ▲ 2.1% |
| Fixed assets21/28 | €2.9m | €2.7m | €2.2m | €13.9m | €13.5m | ▼ 2.6% |
| Intangible fixed assets21 | €50,992 | €37,127 | €25,462 | €29,966 | €31,511 | ▲ 5.2% |
| Tangible fixed assets22/27 | €2.9m | €2.7m | €2.2m | €1.9m | €1.5m | ▼ 19.4% |
| Plant, machinery and equipment23 | - | €2.3m | €1.9m | €1.6m | €1.3m | ▼ 19.6% |
| Furniture and vehicles24 | - | €327,349 | €250,034 | €267,552 | €186,196 | ▼ 30.4% |
| Other tangible fixed assets26 | - | €29,051 | €29,778 | €27,730 | €56,291 | ▲ 103% |
| Financial fixed assets28 | - | - | - | €12.0m | €12.0m | = |
| Affiliated companies280/1 | - | - | - | €12.0m | €12.0m | = |
| Participating interests280 | - | - | - | €12.0m | €12.0m | = |
| Current assets29/58 | €5.9m | €7.1m | €6.8m | €7.5m | €8.3m | ▲ 10.8% |
| Amounts receivable after more than one year29 | - | - | - | - | €46,556 | - |
| Trade receivables290 | - | - | - | - | €46,556 | - |
| Stocks and contracts in progress3 | €1.6m | €2.5m | €2.8m | €2.9m | €3.2m | ▲ 9.8% |
| Stocks30/36 | - | €2.5m | €2.8m | €2.9m | €3.2m | ▲ 9.8% |
| Raw materials and consumables30/31 | - | €2.4m | €2.5m | €845,050 | €952,259 | ▲ 12.7% |
| Finished goods33 | - | - | - | €139,068 | €92,187 | ▼ 33.7% |
| Goods purchased for resale34 | - | - | - | €1.4m | €1.6m | ▲ 15.5% |
| Advance payments36 | - | €119,456 | €378,837 | €499,891 | €504,014 | ▲ 0.8% |
| Amounts receivable within one year40/41 | €3.6m | €3.4m | €3.3m | €4.2m | €4.3m | ▲ 2.8% |
| Trade receivables40 | - | €3.4m | €3.2m | €3.9m | €4.1m | ▲ 5.0% |
| Other amounts receivable41 | - | €44,769 | €60,214 | €242,816 | €163,167 | ▼ 32.8% |
| Cash at bank and in hand54/58 | €402,136 | €632,506 | €573,386 | €330,821 | €665,295 | ▲ 101% |
| Deferred charges and accrued income490/1 | - | €496,479 | €99,639 | €102,727 | €130,105 | ▲ 26.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €8.9m | €9.8m | €9.0m | €21.3m | €21.8m | ▲ 2.1% |
| Equity10/15 | €1.0m | €909,282 | €713,423 | €6.6m | €5.9m | ▼ 11.5% |
| Contributions10/11 | €75,000 | €75,000 | €75,000 | €6.8m | €6.8m | = |
| Capital10 | - | €75,000 | €75,000 | €6.8m | €6.8m | = |
| Issued capital100 | - | €75,000 | €75,000 | €6.8m | €6.8m | = |
| Reserves13 | €1.4m | €1.3m | €1.2m | €1.0m | €904,209 | ▼ 12.6% |
| Non-distributable reserves130/1 | - | €7,500 | €7,500 | €7,500 | €7,500 | = |
| Legal reserve130 | - | €7,500 | €7,500 | €7,500 | €7,500 | = |
| Tax-exempt reserves132 | - | €905,118 | €781,709 | €656,284 | €526,125 | ▼ 19.8% |
| Distributable reserves133 | - | €370,584 | €370,584 | €370,584 | €370,584 | = |
| Profit (loss) carried forward14 | -€459,831 | -€448,920 | -€521,370 | -€1.2m | -€1.8m | ▼ 52.8% |
| Provisions and deferred taxes16 | €342,842 | €301,706 | €260,570 | €218,761 | €175,375 | ▼ 19.8% |
| Deferred taxes168 | - | €301,706 | €260,570 | €218,761 | €175,375 | ▼ 19.8% |
| Amounts payable17/49 | €7.5m | €8.6m | €8.0m | €14.5m | €15.7m | ▲ 8.6% |
| Amounts payable after more than one year17 | €880,000 | €660,000 | €440,000 | €7.8m | €8.3m | ▲ 6.2% |
| Financial debts170/4 | - | €660,000 | €440,000 | €7.8m | €8.3m | ▲ 6.2% |
| Subordinated loans170 | - | - | - | €7.8m | €8.3m | ▲ 6.2% |
| Credit institutions173 | - | €660,000 | €440,000 | - | - | - |
| Amounts payable within one year42/48 | €6.6m | €7.9m | €7.6m | €6.3m | €6.9m | ▲ 10.2% |
| Current portion of amounts payable after more than one year42 | - | €220,000 | €220,000 | - | - | - |
| Financial debts43 | - | €4.3m | €4.0m | €2.6m | €3.2m | ▲ 22.6% |
| Credit institutions430/8 | - | €4.3m | €4.0m | €2.6m | €3.2m | ▲ 22.6% |
| Trade debts44 | €2.6m | €3.0m | €2.6m | €3.3m | €3.0m | ▼ 10.0% |
| Suppliers440/4 | - | €3.0m | €2.6m | €3.3m | €3.0m | ▼ 10.0% |
| Taxes, remuneration and social security45 | - | €458,196 | €361,141 | €408,182 | €499,136 | ▲ 22.3% |
| Taxes450/3 | - | €243,869 | €153,191 | €110,376 | €208,245 | ▲ 88.7% |
| Remuneration and social security454/9 | - | €214,327 | €207,950 | €297,806 | €290,891 | ▼ 2.3% |
| Other amounts payable47/48 | - | - | €400,000 | - | €300,000 | - |
| Accrued charges and deferred income492/3 | - | - | €1,907 | €445,354 | €570,779 | ▲ 28.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €352,705 | -€112,498 | -€195,859 | -€794,355 | -€758,964 | ▲ 4.5% |
| + Depreciation and write-downs630 | €498,622 | €549,755 | €559,309 | €522,320 | €460,016 | ▼ 11.9% |
| Operating cash flow (approximation) | €851,327 | €437,257 | €363,450 | -€272,035 | -€298,948 | ▼ 9.9% |
| Investment in fixed assets (approximation) | - | -€339,572 | -€63,823 | -€12.2m | -€101,650 | ▲ 99.2% |
| Change in cash | - | €230,370 | -€59,120 | -€242,565 | €334,474 | ▲ 238% |
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
15-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
01-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Equity above €5mEq €6.6m ▲828%
Equity rises from €713,423 to €6.6m.
23-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
05-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
02-03
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Equity above €1mEq €1.0m ▲47%
3 profitable years in a row build equity to €1.0m.
31-05
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
15-04
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Back to profitnet €1.8m
Net result €1.8m after one loss-making year.
31-12
Financial
Equity above €500,000Eq €606,178
Equity rises from -€1.1m to €606,178.
24-12
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 146 days late
2018
05-04
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
13-03
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 21 acts read
About the unread acts
We know of 21 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
21 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, Waregem · 1 establishment unit since 1983
Ground area
1.2 ha
Building footprint
6,844 m²
Volume, LiDAR
56,199 m³
Parcel 34453F0334/00N002, Flanders · tallest building 10.7 m, ±3 floors. Linked by address, not a title deed.
6
companies at this address
See who is registered here
1 establishment unit
MATCO NV
since 19832.023.069.711
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34453F0334/00N002 | Flanders | 1.2 ha | 1 · 6,844 m² | 10.7 m · 3 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.
Structure & network
Owners and holdings
2 owners · 1 holding · 2 subsidiaries in the treeOwners 2
- BHBparent74.02%
-
25.98%
Holdings 1
- Matco Latex ServicessubsidiaryEquity €12.5mResult €526,653100%
All subsidiaries, including indirect ones 2
Companies in which this company or one of its subsidiaries holds more than half, or which it consolidates according to the LEI register.
Matco Latex Services 100%1 subsidiary
- Matco Chemicals BVNL 100%
According to the 2025 annual accounts of MATCO 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
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 10 entries · 105,572 EUR awarded · 100,838 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 4 | 1,867 EUR | 17,180 EUR |
| 2024 | 3 | 4,644 EUR | 43,182 EUR |
| 2023 | 2 | 98,106 EUR | 40,140 EUR |
| 2022 | 1 | 955 EUR | 336 EUR |
Recognitions · licences · registrations
Legal Entity Identifier
549300IEEXRYJH5WM380
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Of 1,228 companies in sector 46851 we hold annual accounts for 528. 288 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded30-09-1983
Fiscal year end31-12
Activities, NACEBEL 2025
46851Wholesale of industrial chemicals
20590Manufacture of chemicals and chemical products
38110Waste collection, recovery and disposal activities
38120Waste collection, recovery and disposal activities
38320Waste collection, recovery and disposal activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0424621854
Also
9925:BE0424621854
Registered
14-10-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.