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MATERNI

Active
Public limited companyfounded 201313 yrs activeIndustrielaan 4, 9320 Aalst, BelgiumKBO/BCE: BE 0502.583.031

The file of MATERNI contains 2 judicial reorganisation notices, as published in the Belgian State Gazette.

Summary

The computed 12-month bankruptcy probability is 16.1% (high). The 2025 annual accounts show negative equity (-€663,205) and a net result of -€468,330. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 5% of 144 sector peers (fiscal year 2025).

Risk analysisWatch ReportCompare
MATERNIActiveChecked score 12/100
Risk analysis ReportCompare

Overview

Activity
Manufacture of basic metals
NACE 24450Manufacture of rubber and plastic products NACE 22260NACE 22290
2 sites
Size
€2.4mtotal assets 2025
Staff
12.2 FTE
Equity
-€663,205
Loss
-€468,330
Financial health
12 Critical Checked score 2025
Bankruptcy chance 12 m
16.1%
Structure
Largest shareholder
Ferryman Technologies · 47.93%
Board
3 members
Accounts filed 28 d late1 of 16 deeds read
Why 12- Judicial reorganisation on record (2 publications, latest 30-06-2023)- Negative equity -€663,205- Loss of €468,330, the second in a row (FY 2025)- Liquidity: current ratio 0.20, cash €26,411, halvedShow the evidence

Checked score

Score 2025
12 / 100
Critical
Probability in this band: over 15.0%
Better than 3% of its sector peers (NACE 24, small)
Performance against the sector, not lower risk
Every signal that weighs is under Signals.
Financial strength · tick = 2024
Weak
Solvency 0-20
equity -28.2% of total assets
Liquidity 10-20
short-term debt 75.6% · cash 1.1%
Profitability 0=
return on assets -19.9%
Bankruptcy probability, 12 months
16.1% High
0%0.5%1.5%4%10%≥ 25%

About 1 in 6 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.3% (74 companies)
Last 24 months 11-2024: 10.0%lowest value 12-2024: 10.0%● 0.0% vs 11-2024lowest value 01-2025: 10.0%● 0.0% vs 12-2024lowest value 02-2025: 10.0%● 0.0% vs 01-2025lowest value 03-2025: 10.0%● 0.0% vs 02-2025lowest value 04-2025: 10.0%● 0.0% vs 03-2025lowest value 05-2025: 10.0%● 0.0% vs 04-2025lowest value 06-2025: 10.0%● 0.0% vs 05-2025lowest value 07-2025: 19.3%▲ +93.0% vs 06-2025 08-2025: 19.3%● 0.0% vs 07-2025 09-2025: 19.3%● 0.0% vs 08-2025 10-2025: 19.3%● 0.0% vs 09-2025 11-2025: 19.3%● 0.0% vs 10-2025 12-2025: 19.3%● 0.0% vs 11-2025 01-2026: 19.3%● 0.0% vs 12-2025 02-2026: 19.5%▲ +1.2% vs 01-2026 03-2026: 21.5%▲ +9.9% vs 02-2026 04-2026: 22.0%▲ +2.3% vs 03-2026 05-2026: 22.1%▲ +0.8% vs 04-2026 06-2026: 22.5%▲ +1.6% vs 05-2026highest value 07-2026: 18.4%▼ -18.2% vs 06-2026 08-2026: 18.5%▲ +0.4% vs 07-2026 09-2026: 16.1%▼ -12.5% vs 08-2026 10-2026: 16.1%● 0.0% vs 09-2026
  • Judicial reorganisation on record (2 publications, latest 30-06-2023) raises the probability
  • Negative equity -€663,205 raises the probability
  • Loss of €468,330, the second in a row (FY 2025) raises the probability
  • Liquidity: current ratio 0.20, cash €26,411, halved raises the probability
No credit on open account
Liquidity short (current ratio 0.2 against 0.44 in 2024; short-term debt: 75.6% and cash: 1.1% of total assets), and equity is negative.
How it is calculated

The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.

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%

Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 24, small). Better than this share of them on solvency 1%, liquidity 7%, profitability 4%, growth against the median 1%. That is performance, not lower risk; the band itself always comes from the probability.

Bankruptcy probability: model pd-v3.202610021621, computed on 06-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.

Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.

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Signals

Six signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Judicial reorganisation on record (2 publications, latest 30-06-2023)
In the bankruptcy model this factor raises the probability.
Belgian State Gazette
raises risk · Negative equity -€663,205
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
raises risk · Loss of €468,330, the second in a row (FY 2025)
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
raises risk · Liquidity: current ratio 0.20, cash €26,411, halved
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025
Equity per financial year
1819202122232425
2018 to 2025 · latest year -€663,205
neutral · A punctual record breaks
This company filed 5 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 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 filings
Deviation from the deadline
2025
28 d late
2024
38 d early
2023
30 d early
2022
70 d early
2021
16 d early
2020
37 d early
2019
169 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 47 days before the deadline; the sector median for financial year 2024 is 16 days before the deadline, and 29% 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 2 July (4 of the last 5 filed years within 41 days of that day).
Companies Code · seven months
Position in the running window
07-10-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage
  1. Annual accounts filedfiscal year 2025 · full…
  2. Resignation: Milla bv (director)Permanent representatives: Benedikt Planckaert, Gregory…
  3. Annual accounts filedfiscal year 2024 · abbreviated…

Key points

  • Risk: Negative equityfiscal year 2025: debts exceed assets -€663,205 View
  • Caution: Equity fell in 2025from -€143,332 to -€663,205 ▼ 363% View
  • Caution: Among the weakest 5% on solvencysector median 43.9% · 144 companies -28.2% View
  • Caution: 2 loss-making years in a rowloss fiscal year 2025 -€468,330 View
  • Board changedlatest change 30-12-2025 · 3 in office 1 joined · 1 left View

By topic

Financials

Fiscal year
2025
Total assets
€2.4m
Loss
-€468,330
Solvency
-28.2%
Total assets▼ 16.9%
Net result
20182025
Go to Financials

Timeline

Events
19
Since
2017
Next accounts
by 31-07-2027
  1. 28-08-2026Annual accounts filed
  2. 30-12-2025Resignation: Milla bv (director)
  3. 23-06-2025Annual accounts filed
Go to Timeline

Company details

Sites
2
Legal form
Public limited company
Activity
Manufacture of basic metalsNACE 24450
Founded
18-01-2013
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

Go further with this company

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