MATEL
ActiveSummary
MATEL has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€236,169) and a net result of -€9,122. Equity is shrinking by ~7.7% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability61▲+20
Solvency0=
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.01 against 0.01 in 2024; short-term debt: 192.9% and cash: 2.2% of total assets), and equity is negative.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-156.9%
Return on assets
-6.1%
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
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€236,169
neutral · A punctual record breaks
This company filed 4 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 18-08-2026, 18 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
18 d late
2024
15 d early
2023
13 d early
2022
11 d early
2021
5 d early
2020
20 d late
2019
38 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 5 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were 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 20 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
-€236,169▼ 4.0%
2024 · -€227,047
Total assets
€150,502▼ 12.7%
2024 · €172,332
Net result
-€9,122▲ 50.3%
2024 · -€18,363
Working capital
-€286,950▼ 7.3%
2024 · -€267,369
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
Operating result-€10,427-€13,777▼ 32.1%-€8,035▲ 41.7%-€15,121▼ 88.2%-€6,437▲ 57.4%
Net result-€15,257-€18,085▼ 18.5%-€11,829▲ 34.6%-€18,363▼ 55.2%-€9,122▲ 50.3%
Equity-€178,769▼ 9.3%-€196,854▼ 10.1%-€208,684▼ 6.0%-€227,047▼ 8.8%-€236,169▼ 4.0%
Total assets€207,517▼ 10.7%€204,414▼ 1.5%€192,484▼ 5.8%€172,332▼ 10.5%€150,502▼ 12.7%
Debt€386,286▼ 2.4%€401,268▲ 3.9%€401,167=€399,379▼ 0.4%€386,671▼ 3.2%
Working capital-€151,935▼ 13.9%-€192,986▼ 27.0%-€229,060▼ 18.7%-€267,369▼ 16.7%-€286,950▼ 7.3%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €6,437 in 2025 against €15,121 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €150,502
Fixed assets
€147,128 ▼ 13.2%
Current assets
€3,374 ▲ 21.7%
Key figures and ratios
EBITDA
€22,029▲
2024 · €13,905
Cash flow
€19,344▲
2024 · €10,663
Solvency
-156.9%▼
2024 · -131.7%
Current ratio
0.01▲
2024 · 0.01
Debt to equity
-1.64▲
2024 · -1.76
ROA
-6.1%▲
2024 · -10.7%
Interest coverage
8.20▲
2024 · 4.29
Debt ≤ 1 year
€290,325▲
2024 · €270,141
Debt > 1 year
€96,346▼
2024 · €129,238
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,799 companies that looked in July 2024 the way this one looks now, 1.9% went bankrupt within 24 months and 90% are still going.
- Micro
- 20 years or older
- negative equity
- a small loss
1.9%
went bankrupt
5.9%
stopped otherwise
90%
still going
A further 2.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.0% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 2,799 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €27,371 | €27,847 | €29,513 | €29,026 | €28,466 | ▼ 1.9% |
| Other operating charges640/8 | €4,750 | €5,751 | €6,199 | €6,674 | €6,888 | ▲ 3.2% |
| Gross operating margin9900 | €21,695 | €19,821 | €27,677 | €20,579 | €28,917 | ▲ 40.5% |
| Operating profit (loss)9901 | -€10,427 | -€13,777 | -€8,035 | -€15,121 | -€6,437 | ▲ 57.4% |
| Financial income75/76B | - | - | - | €3 | €0 | ▼ 100% |
| Recurring financial income75 | - | - | - | €3 | €0 | ▼ 100% |
| Financial charges65/66B | €4,831 | €4,308 | €3,794 | €3,245 | €2,685 | ▼ 17.3% |
| Recurring financial charges65 | €4,831 | €4,308 | €3,794 | €3,245 | €2,685 | ▼ 17.3% |
| Profit (loss) for the period before taxes9903 | -€15,257 | -€18,085 | -€11,829 | -€18,363 | -€9,122 | ▲ 50.3% |
| Profit (loss) for the period9904 | -€15,257 | -€18,085 | -€11,829 | -€18,363 | -€9,122 | ▲ 50.3% |
| Profit (loss) for the period to be appropriated9905 | -€15,257 | -€18,085 | -€11,829 | -€18,363 | -€9,122 | ▲ 50.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €207,517 | €204,414 | €192,484 | €172,332 | €150,502 | ▼ 12.7% |
| Fixed assets21/28 | €197,720 | €189,459 | €181,942 | €169,560 | €147,128 | ▼ 13.2% |
| Tangible fixed assets22/27 | €197,720 | €189,459 | €181,942 | €169,560 | €147,128 | ▼ 13.2% |
| Land and buildings22 | €185,760 | €179,254 | €173,492 | €159,621 | €139,073 | ▼ 12.9% |
| Plant, machinery and equipment23 | €11,960 | €10,205 | €8,450 | €9,939 | €8,055 | ▼ 19.0% |
| Current assets29/58 | €9,797 | €14,955 | €10,542 | €2,772 | €3,374 | ▲ 21.7% |
| Cash at bank and in hand54/58 | €9,761 | €14,916 | €10,500 | €2,728 | €3,329 | ▲ 22.0% |
| Deferred charges and accrued income490/1 | €36 | €39 | €42 | €44 | €45 | ▲ 2.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €207,517 | €204,414 | €192,484 | €172,332 | €150,502 | ▼ 12.7% |
| Equity10/15 | -€178,769 | -€196,854 | -€208,684 | -€227,047 | -€236,169 | ▼ 4.0% |
| Contributions10/11 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Capital10 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Issued capital100 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Profit (loss) carried forward14 | -€240,269 | -€258,354 | -€270,184 | -€288,547 | -€297,669 | ▼ 3.2% |
| Amounts payable17/49 | €386,286 | €401,268 | €401,167 | €399,379 | €386,671 | ▼ 3.2% |
| Amounts payable after more than one year17 | €224,554 | €193,328 | €161,565 | €129,238 | €96,346 | ▼ 25.5% |
| Financial debts170/4 | €224,554 | €193,328 | €161,565 | €129,238 | €96,346 | ▼ 25.5% |
| Amounts payable within one year42/48 | €161,732 | €207,941 | €239,602 | €270,141 | €290,325 | ▲ 7.5% |
| Current portion of amounts payable after more than one year42 | €30,690 | €31,226 | €31,763 | €32,327 | €32,892 | ▲ 1.7% |
| Trade debts44 | €236 | €1,331 | €384 | €0 | €2,561 | - |
| Suppliers440/4 | €236 | €1,331 | €384 | €0 | €2,561 | - |
| Other amounts payable47/48 | €130,806 | €175,383 | €207,455 | €237,814 | €254,872 | ▲ 7.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€15,257 | -€18,085 | -€11,829 | -€18,363 | -€9,122 | ▲ 50.3% |
| + Depreciation and write-downs630 | €27,371 | €27,847 | €29,513 | €29,026 | €28,466 | ▼ 1.9% |
| Operating cash flow (approximation) | €12,114 | €9,762 | €17,684 | €10,663 | €19,344 | ▲ 81.4% |
| Investment in fixed assets (approximation) | - | -€19,586 | -€21,996 | -€16,644 | -€6,033 | ▲ 63.8% |
| Change in cash | - | €5,155 | -€4,416 | -€7,772 | €601 | ▲ 108% |
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
17-09
State Gazette act
Reappointments: Johan Van Eldere, Laura Van Eldere and Hendrik Van EldereResignations: Eline Van Eldere (director) and Anne Van Eldere (director)8 facts ▸
State Gazette act
Reappointments: Johan Van Eldere, Laura Van Eldere and Hendrik Van Eldere
Resignations: Eline Van Eldere (director) and Anne Van Eldere (director)8 facts ▸
- General meeting, 29-05-2026
- Director reappointment, Johan Van Eldere (director)
- Director reappointment, Laura Van Eldere (director)
- Director reappointment, Hendrik Van Eldere (director)
- Director resignation, Eline Van Eldere (director)
- Director resignation, Anne Van Eldere (director)
- Board meeting, 29-05-2026
- Director reappointment, Johan Van Eldere (managing director)
18-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 18 days late
2025
16-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet -€18,363
Net result drops to -€18,363, the lowest in the series; recovery starts the following year.
18-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
20-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
26-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
20-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 20 days late
2020
31-12
Financial
Back to profitnet €31,039
Net result €31,039 after 2 loss-making years.
07-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 38 days late
2019
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 28 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 30 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 4 acts read
About the unread acts
Of the 4 Belgian State Gazette acts we know for this company, 1 has been read. The other 3 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
under verification, last change in 2026
This board is reconstructed from a single act (26362698). A Gazette act generally publishes only CHANGES, not a full roll call, so directors unchanged since then may be missing here. The KBO register holds the complete list of function holders.
Board 3
Hendrik Van Eldere
CurrentDirector · since 29-05-2026
Johan Van Eldere
CurrentDirector · since 29-05-2026
Laura Van Eldere
CurrentDirector · since 29-05-2026
Day-to-day management 1
Johan Van Eldere
CurrentManaging director · since 29-05-2026
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
3 of this company's 4 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, Leuven · 1 establishment unit since 1991
Ground area
307 m²
Building footprint
98 m²
Volume, LiDAR
1,059 m³
Parcel 24502C0154/00S002, Flanders · tallest building 15.9 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
Vlamingenstraat 49, 3000 Leuven
since 19912.054.198.197
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24502C0154/00S002 | Flanders | 307 m² | 1 · 98 m² | 15.9 m · 4 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.
Mandate history
5 people since 2025, 3 in office
- Board
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| Hendrik Van Eldere |
|
| Johan Van Eldere |
|
| Laura Van Eldere |
|
| Anne Van Eldere |
|
| Eline Van Eldere |
|
Structure & network
Connections & network
3 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
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Identification & contact
Identification
Legal formPublic limited company
Founded08-02-1991
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID
0208:0443240609
Also
9925:BE0443240609
Registered
23-02-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
General meetings
1 convocationExtraordinary general meeting
omzetting in euro; vaststel- ling aandelen op naam; aanpassing statuten; ontslagen en benoemingen (alsook regularisatie) bestuurders en machtigingen.