MATERIAL
ActiveSummary
MATERIAL has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €201k and a net result of €30k. Equity is growing by ~31.9% per year across the filed fiscal years. Its solvency ranks better than 47% of 9494 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
83
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability78▼-12
Solvency76▼-24
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €16k at 30 days acceptable
Liquidity ample (current ratio 1.66 against 11.6 in 2024; short-term debt: 48.7% and cash: 75.1% of total assets), and 48.7% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 71
Relative position
BE, all sectors
reference
Sector 71
lower
← fewer bankruptcies
more bankruptcies →
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
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
51.3%
Return on assets
7.8%
Age of the figures
12 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 29-04-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
30 d early
2023
on the day
2022
16 d early
2021
57 d early
2020
on the day
2019
22 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€30k▼ 65.2%
2024 · €87k
2018: €1k
2019: €56k
2020: €31k
2021: €115k
2022: €167k
2023: €56k
2024: €87k
2018 → 2025
Working capital
€127k▼ 67.0%
2024 · €384k
2018: €49k
2019: €92k
2020: €122k
2021: €230k
2022: €385k
2023: €338k
2024: €384k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€240k-€407k▲ 69.9%€437k▲ 7.5%€478k▲ 9.2%€201k▼ 58.0%
Operating result€164k-€243k▲ 48.5%€82k▼ 66.3%€118k▲ 44.1%€41k▼ 65.4%
Net result€115k-€167k▲ 45.8%€56k▼ 66.4%€87k▲ 55.5%€30k▼ 65.2%
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 65% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €392k
Fixed assets
€74k ▼ 20.9%
Current assets
€318k ▼ 24.5%
Equity and liabilities €392k
Equity
€201k ▼ 58.0%
Debt
€191k ▲ 427%
Debt's share of the balance-sheet total rises from 7.1% to 48.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€60k▼
2024 · €137k
Cash flow
€50k▼
2024 · €106k
Current ratio
1.66▼
2024 · 11.60
Debt to equity
0.95▲
2024 · 0.08
ROE
15.2%▼
2024 · 18.3%
ROA
7.8%▼
2024 · 17.0%
Interest coverage
32.45▼
2024 · 164.52
Debt ≤ 1 year
€191k▲
2024 · €36k
Income taxes
€14k▼
2024 · €37k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 50 lines
Balance sheet
Code20242025
Assets
Total assets20/58€514k€392k▼
Fixed assets21/28€93k€74k▼
Intangible fixed assets21€63k€47k▼
Tangible fixed assets22/27€17k€13k▼
Plant, machinery and equipment23€5k€4k▼
Furniture and vehicles24€12k€9k▼
Financial fixed assets28€14k€14k=
Current assets29/58€421k€318k▼
Amounts receivable within one year40/41€233k€23k▼
Trade receivables40€92k€21k▼
Other amounts receivable41€141k€2k▼
Cash at bank and in hand54/58€186k€294k▲
Deferred charges and accrued income490/1€2k€698▼
Equity and liabilities
Total equity and liabilities10/49€514k€392k▼
Equity10/15€478k€201k▼
Contributions10/11€19k€19k=
Reserves13€456k€181k▼
Non-distributable reserves130/1€8k€8k=
Reserves not available under the articles1311€8k€8k=
Distributable reserves133€448k€173k▼
Profit (loss) carried forward14€4k€2k▼
Amounts payable17/49€36k€191k▲
Amounts payable within one year42/48€36k€191k▲
Financial debts43€2k€4k▲
Credit institutions430/8€2k€4k▲
Trade debts44€15k€9k▼
Suppliers440/4€15k€9k▼
Taxes, remuneration and social security45€16k€24k▲
Taxes450/3€16k€22k▲
Remuneration and social security454/9€0€2k▲
Other amounts payable47/48€3k€153k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€19k€19k▲
Other operating charges640/8€891€551▼
Gross operating margin9900€138k€61k▼
Operating profit (loss)9901€118k€41k▼
Financial income75/76B€7k€6k▼
Recurring financial income75€7k€6k▼
Financial charges65/66B€832€2k▲
Recurring financial charges65€832€2k▲
Profit (loss) for the period before taxes9903€124k€45k▼
Income taxes67/77€37k€14k▼
Profit (loss) for the period9904€87k€30k▼
Profit (loss) for the period to be appropriated9905€87k€30k▼
Appropriation of the result
Profit (loss) to be appropriated9906€89k€34k▼
Profit (loss) brought forward from the previous period14P€1k€4k▲
Transfer from equity791/2€47k€308k▲
Transfer to equity691/2€85k€33k▼
To other reserves6921€85k€33k▼
Profit to be distributed694/7€47k€308k▲
Return on contributions (dividend)694€47k€308k▲
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
29-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-03
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
14-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-09
Financial
Highest result since 2018net €167k ▲45.8%
Operating result €243k, net result €167k, both a record.
30-09
Financial
Liquidity doublescurrent ratio 11.49
Current ratio from 4.87 to 11.49; short-term debt falls from €60k to €37k.
04-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-09
Financial
Equity above €200kEq €240k ▲92.1%
4 profitable years in a row build equity to €240k.
30-04
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-09
Financial
Liquidity doublescurrent ratio 6.99
Current ratio from 2.85 to 6.99; short-term debt falls from €50k to €20k.
30-09
Financial
Equity above €100kEq €125k ▲33.2%
3 profitable years in a row build equity to €125k.
08-04
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
Show earlier events
2019
28-03
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
20-04
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
21-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 11 acts read
About the unread acts
We know of 11 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
11 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, Waterloo · 1 establishment unit since 1990
Ground area
4,633 m²
Building footprint
788 m²
Volume, LiDAR
12,397 m³
Parcel 25763M0600/00R000, Wallonia · tallest building 18.1 m, ±5 floors. Linked by address, not a title deed.
26
companies at this address
See who is registered here
1 establishment unit
MATERIAL
since 19902.050.146.072
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25763M0600/00R000 | Wallonia | 4,633 m² | 1 · 788 m² | 18.1 m · 5 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
STABILUX
BE 0887.142.402
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Euromatic Office and Industrial Automation
BE 0443.845.373
Anderlecht · Eq €200,731
Steel Construct
BE 0465.140.536
Meerhout · Eq €201,134
Ingeniva
BE 0832.489.632
Schoten · Eq €201,181
ELYSIS BELGIQUE
BE 0771.389.134
Waterloo · Eq €201,298
Of 11,546 companies in sector 71121 we hold annual accounts for 6,561. 5,120 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded28-06-1990
Fiscal year end30-09
Activities, NACEBEL 2025
71121Engineering and related technical consultancy, excluding land surveyors
Sources
Crossroads Bank for EnterprisesNational Bank · 34 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.