Equity
Debts exceed assets in financial year 2025.
Debts exceed assets in financial year 2025.
The accounts state no turnover.
The 2016 accounts came latest: 87 days after the end of the period.
Board changed. Latest change 06-05-2026 · 1 in office.
Lower solvency than 93% of companies in retail trade. Sector median 36.6% · 12,852 companies.
Negative equity caps the score at 59.
The dashed line is the sector median: 0.6% across 40,276 companies (NACE 47, micro).
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
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 47, micro). It does better than 6% of them on solvency, 52% on liquidity, 16% on profitability and 19% on growth.
The bankruptcy probability was computed on 07-11-2026 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 low class on 30-06-2025, 0.8% 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).
In July 2024, 2,333 companies had the same profile as MATENSION has now. Each dot stands for 6 companies, two years later.
Another 0.8% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MATENSION itself: 1.2% within 12 months.
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 2,333 companies, not a prediction for MATENSION. 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.
Liquidity is insufficient, with a current ratio of 0.62 (0.8 in 2024), below 1. Short-term debt is 150.5% and cash 43.6% of total assets. Equity is negative.
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.
The company filed its last 7 accounts on average 20 days after the deadline. In the sector (NACE 47), the median for financial year 2024 was on the deadline day, and 47% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| MATENSION Schaerbeek | €28,900 | €52,226 | -50.5% | - |
| S.ALAM Brussels | €24,267 | €53,891 | 0.8% | - |
| RANGPUR Ixelles | €23,795 | €62,935 | 34.3% | - |
| Happy Pâtisserie Etterbeek | €27,966 | €38,865 | -66.1% | - |
| Jarral Trade Anderlecht | €28,899 | €36,101 | 65.4% | - |
| SUPERBONI Auderghem | €26,374 | €46,415 | 74.9% | - |
| BOTIFOOD Uccle | €21,354 | €37,594 | -14.3% | - |
These companies have the same main activity as MATENSION: non-specialised retail sale with food, beverages or tobacco predominating (NACE 47110). They are comparable in size and age: total assets between €21,400 and €28,900, founded between 2014 and 2017.
MATENSION files the abbreviated format. That format states no turnover. The gross margin rose from -€20,714 in 2015 to €52,226 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €550,000. Estimated: probably between €380,000 and €830,000.
Higher than 6% of 12,852 companies in 2025.
Higher than 12% of 12,642 companies in 2025.
Higher than 11% of 12,716 companies in 2025.
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: bottom quarter · Working capital: bottom quarter · Staff: middle half
Staff costs divided by the average number of full-time equivalents.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||
20/58 |
28,900 | 61,494 | 47,772 | 1,741 | 17,018 | 17,310 | 26,229 | 30,144 | 27,928 | 31,616 | |
21/28 |
1,936 | 2,904 | 4,743 | 1,741 | 6,823 | 8,415 | 8,415 | 8,415 | 10,006 | 11,597 | |
22/27 |
1,936 | 2,904 | 4,743 | 1,741 | 6,823 | 8,415 | 8,415 | 8,415 | 10,006 | 11,597 | |
23 |
- | - | - | - | 545 | 1,090 | 1,090 | 1,090 | 1,635 | 2,180 | |
24 |
1,936 | 2,904 | 3,872 | - | - | - | - | - | - | - | |
26 |
- | - | 871 | 1,741 | 6,278 | 7,325 | 7,325 | 7,325 | 8,371 | 9,417 | |
29/58 |
26,964 | 58,590 | 43,030 | - | 10,195 | 8,896 | 17,815 | 21,730 | 17,923 | 20,019 | |
3 |
5,975 | 5,600 | 27,626 | - | 4,000 | 4,000 | 17,815 | 17,815 | 17,815 | 16,246 | |
30/36 |
5,975 | 5,600 | 27,626 | - | 4,000 | 4,000 | 17,815 | 17,815 | 17,815 | 16,246 | |
40/41 |
6,162 | 23,951 | 9,877 | - | 1,700 | 1,518 | - | - | - | 802 | |
40 |
- | - | 5,848 | - | 1,700 | 1,518 | - | - | - | 154 | |
41 |
6,162 | 23,951 | 4,030 | - | - | - | - | - | - | 647 | |
54/58 |
12,589 | 27,184 | 4,393 | - | 4,495 | 3,378 | - | 3,915 | 108 | 2,971 | |
490/1 |
2,238 | 1,855 | 1,133 | - | - | - | - | - | - | - | |
| Balance sheet: equity and liabilities | |||||||||||
10/49 |
28,900 | 61,494 | 47,772 | 1,741 | 17,018 | 17,310 | 26,229 | 30,144 | 27,928 | 31,616 | |
10/15 |
-14,590 | -11,921 | -17,534 | -9,206 | 4,660 | -5,980 | 3,135 | 7,300 | 17,439 | 16,260 | |
10/11 |
45,857 | 45,857 | 45,857 | 45,857 | 45,857 | 45,857 | 45,498 | 45,498 | 45,498 | 38,565 | |
100 |
- | - | - | - | - | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | |
101 |
- | - | - | - | - | 4,143 | 4,502 | 4,502 | 4,502 | 11,435 | |
11 |
45,857 | 45,857 | 45,857 | 45,857 | 45,857 | - | - | - | - | - | |
1109/19 |
45,857 | 45,857 | 45,857 | 45,857 | 45,857 | - | - | - | - | - | |
14 |
-60,447 | -57,777 | -63,390 | -55,062 | -41,197 | -51,836 | -42,362 | -38,198 | -28,058 | -22,305 | |
17/49 |
43,490 | 73,415 | 65,306 | 10,947 | 12,359 | 23,290 | 23,094 | 22,844 | 10,489 | 15,356 | |
42/48 |
43,490 | 73,415 | 65,306 | 10,947 | 12,359 | 23,290 | 23,094 | 22,844 | 10,489 | 15,356 | |
43 |
- | - | - | 6 | - | - | - | - | - | - | |
430/8 |
- | - | - | 6 | - | - | - | - | - | - | |
44 |
21,463 | 25,702 | 30,858 | 383 | - | 375 | 375 | 125 | 125 | 365 | |
440/4 |
21,463 | 25,702 | 30,858 | 383 | - | 375 | 375 | 125 | 125 | 365 | |
45 |
10,392 | 8,098 | 1,376 | 686 | 1,948 | 12,504 | 12,448 | 12,448 | - | - | |
450/3 |
3,340 | 1,230 | 686 | 686 | 1,948 | 1,948 | 1,948 | 1,948 | - | - | |
454/9 |
7,052 | 6,868 | 690 | - | - | 10,556 | 10,500 | 10,500 | - | - | |
47/48 |
11,635 | 39,615 | 33,072 | 9,872 | 10,411 | 10,411 | 10,271 | 10,271 | 10,364 | 14,991 | |
| Income statement | |||||||||||
76A |
- | 1,283 | - | - | - | - | - | - | - | - | |
9900 |
52,226 | 67,717 | -2,236 | 4,295 | 8,264 | -9,335 | -4,036 | -25,052 | -4,308 | -20,714 | |
60/61 |
- | - | - | - | 18,422 | 34,174 | 4,036 | 25,052 | - | - | |
62 |
60,413 | 57,216 | 693 | 6,756 | - | - | - | - | - | - | |
630 |
968 | 1,839 | 1,839 | 871 | - | - | - | 1,591 | 1,591 | 1,591 | |
635/8 |
- | - | - | - | 1,591 | - | - | - | - | - | |
640/8 |
1,765 | 2,840 | 3,503 | - | - | - | - | - | - | - | |
9901 |
-10,920 | 5,822 | -8,270 | -3,332 | 6,673 | -9,335 | -4,036 | -26,644 | -5,899 | -22,305 | |
75/76B |
8,700 | - | 184 | - | 4,107 | - | - | 16,626 | 185 | - | |
75 |
- | - | 6 | - | - | - | - | - | 185 | - | |
76B |
8,700 | - | 178 | - | 4,107 | - | - | 16,626 | - | - | |
65/66B |
182 | 210 | 242 | 183 | 141 | 139 | 129 | 121 | 39 | - | |
65 |
182 | 210 | 242 | 183 | 141 | 139 | 129 | 121 | 39 | - | |
9903 |
-2,402 | 5,613 | -8,328 | -3,515 | 10,639 | -9,474 | -4,165 | -10,139 | -5,753 | -22,305 | |
67/77 |
268 | - | - | - | - | - | - | - | - | - | |
9904 |
-2,670 | 5,613 | -8,328 | -3,515 | 10,639 | -9,474 | -4,165 | -10,139 | -5,753 | -22,305 | |
9905 |
-2,670 | 5,613 | -8,328 | -3,515 | 10,639 | -9,474 | -4,165 | -10,139 | -5,753 | -22,305 | |
| Appropriation of the result | |||||||||||
9906 |
-60,447 | -57,777 | -63,390 | -55,062 | -41,197 | -51,836 | -42,362 | -38,198 | -28,058 | -22,305 | |
14P |
-57,777 | -63,390 | -55,062 | -51,547 | - | - | - | - | - | - | |
| Social balance sheet | |||||||||||
9087 |
2.6 | 2.6 | - | - | - | - | - | - | - | - | |
Hours worked1013 |
- | 4,031 | - | - | - | - | - | - | - | - | |
| Document | |||||||||||
The notes to these accounts have 3 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 24-07-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 24-07-2026 | 2026-00331651 | |
| 31-12-2024 | micro format | 03-07-2025 | 2025-00234362 | |
| 31-12-2023 | micro format | 18-09-2024 | 2024-00472151 | |
| 31-12-2022 | micro format | 01-09-2023 | 2023-00416676 | |
| 31-12-2020 | micro format | 31-08-2021 | 2021-63100280 | |
| 31-12-2019 | micro format | 05-10-2020 | 2020-59100135 | |
| 31-12-2018 | micro format | 31-07-2019 | 2019-43700473 | |
| 31-12-2017 | micro format | 13-08-2018 | 2018-45400307 | |
| 31-12-2016 | full format | 26-10-2017 | 2017-68000035 | |
| 31-12-2015 | full format | 23-09-2016 | 2016-61000423 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| -9,952 | 7,661 | -6,432 | -2,462 | - | - | - | -25,052 | -4,308 | -20,714 | ||
| -1,702 | 7,452 | -6,489 | -2,644 | - | - | - | -8,548 | -4,162 | -20,714 | ||
| 0 | 0 | 4,840 | - | - | - | - | 0 | 0 | 13,188 | ||
| -14,595 | 22,791 | - | - | 1,118 | - | - | 3,807 | -2,863 | - | ||
| -16,526 | -14,825 | -22,276 | - | -2,164 | -14,394 | -5,279 | -1,114 | 7,433 | 4,663 | ||
| -50.5% | -19.4% | -36.7% | - | 27.4% | -34.5% | 12.0% | 24.2% | 62.4% | 51.4% | ||
| 0.62 | 0.80 | 0.66 | - | 0.82 | 0.38 | 0.77 | 0.95 | 1.71 | 1.30 | ||
| 0.48 | 0.72 | 0.24 | - | 0.50 | 0.21 | 0.00 | 0.17 | 0.01 | 0.25 | ||
| - | - | - | - | 2.65 | - | 7.37 | 3.13 | 0.60 | 0.94 | ||
| - | - | - | - | 228.3% | - | -132.8% | -138.9% | -33.0% | -137.2% | ||
| -9.2% | 9.1% | -17.4% | - | 62.5% | -54.7% | -15.9% | -33.6% | -20.6% | -70.6% | ||
| -54.68 | 36.57 | -26.60 | -13.49 | - | - | - | - | - | - | ||
| - | - | - | - | - | 4 days | 34 days | 2 days | - | - |
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
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.
| Item | 31-12-2025 | 31-12-2024 |
|---|---|---|
| Employees at the balance-sheet date | 2 | - |
| full-time | 2 | - |
| in full-time equivalents | 2 | - |
| 2.6 | 2.6 |
Source: social balance sheet in the 2024 to 2025 annual accounts
| Item | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Tangible fixed assets | - | - | €4,840 | - |
| €968 | €1,839 | €1,839 | €871 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a loss of €10,920, after a profit of €5,822 in 2024. It is the lowest result since 2017.
Equity is negative. Debt (€43,490) exceeds the balance-sheet total (€28,900).
MATENSION has no parent and no holdings in its annual accounts. MAKRI Taoufik is the only director. MATENSION shares no director with another company.
| INFERENCES
establishment since 16-12-2003 |
founded in 2003 0862.223.595 |
| LES DUNES - MAISON DU PEUPLE DE SCHAERBEEK
registered office since 03-10-2002 |
founded in 2002 0478.423.695 |
| BUNYAMIN
registered office since 21-11-1994 |
founded in 1994 0453.779.361 |
| RAMOS
registered office since 02-04-1986 |
founded in 1986 0428.687.738 |
| Federation Belge des Velomoteurs et Scooters
registered office since 01-01-1953 |
founded in 1953 0409.554.685 |
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number | FASFC approval |
|---|---|---|---|
| Rubensstraat 1 registered office 1030 Schaerbeek | 10-02-2015 | 2.239.621.122 | Retail with processing activity |
| Gallaitstraat 14 1030 Schaerbeek 4727903 Other retail sale of food | 01-09-2026 | 2.393.025.335 | Retail trade |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 21910E0180/00D003 | 164 m² | 1 · 94 m² | 19.5 m · 6 |
| 21910E0042/00M010 | 128 m² | 1 · 128 m² | 20.8 m · 6 |
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