MATFLEX
ActiveSummary
MATFLEX has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €997,728 and a net result of €35,087. Equity is growing by ~13.6% per year across the filed fiscal years. Its solvency ranks better than 71% of 1042 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability72▼-9
Solvency89▲+4
Growth78=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €75,000 at 30 days acceptable
Liquidity ample (current ratio 4.09 against 3.99 in 2024; short-term debt: 16.8% and cash: 24.2% of total assets), and 36.1% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 25
Relative position
BE, all sectors
reference
Manufacture of fabricated metal products, except machinery and equipment (NACE 25)
about 50% 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
63.9%
Return on assets
2.2%
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
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 08-07-2026, 23 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
23 d early
2024
28 d early
2023
20 d late
2022
12 d early
2021
29 d late
2020
31 d late
2019
28 d late
← 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 6 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 35% 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 19 July (4 of the last 5 filed years within 33 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, abbreviated schema
In the rankings
#7 company by equity in Frameries, Manufacturing sector
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€35,087▼ 78.3%
2024 · €161,505
Working capital
€812,885▲ 2.4%
2024 · €793,718
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 25, Manufacture of fabricated metal products, except machinery and equipment, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€128,369▲ 91.7%€270,946▲ 111%€200,848▼ 25.9%€234,983▲ 17.0%€59,093▼ 74.9%
Net result€98,358within the sector's middle half▲ 115%€191,201within the sector's middle half▲ 94.4%€150,616within the sector's middle half▼ 21.2%€161,505within the sector's middle half▲ 7.2%€35,087within the sector's middle half▼ 78.3%
Equity€679,297within the sector's middle half▲ 16.9%€870,498within the sector's middle half▲ 28.1%€1.0mwithin the sector's middle half▲ 17.3%€962,641within the sector's middle half▼ 5.7%€997,728within the sector's middle half▲ 3.6%
Total assets€1.2mwithin the sector's middle half▲ 14.8%€1.5mwithin the sector's middle half▲ 25.6%€1.7mwithin the sector's middle half▲ 12.7%€1.6mwithin the sector's middle half▼ 5.6%€1.6mwithin the sector's middle half▼ 2.3%
Debt€516,893▲ 12.2%€631,690▲ 22.2%€672,345▲ 6.4%€635,531▼ 5.5%€563,995▼ 11.3%
Working capital€418,851within the sector's middle half▲ 26.8%€587,413within the sector's middle half▲ 40.2%€723,258within the sector's middle half▲ 23.1%€793,718within the sector's middle half▲ 9.7%€812,885above the sector's middle half▲ 2.4%
Solvency56.8%within the sector's middle half▲ 1.0pp57.9%within the sector's middle half▲ 1.2pp60.3%above the sector's middle half▲ 2.3pp60.2%within the sector's middle half▼ 0.1pp63.9%within the sector's middle half▲ 3.7pp
Current ratio2.10within the sector's middle half▲ 0.312.52above the sector's middle half▲ 0.422.76above the sector's middle half▲ 0.233.99above the sector's middle half▲ 1.244.09above the sector's middle half▲ 0.10
Return on assets (ROA)8.2%within the sector's middle half▲ 3.8pp12.7%above the sector's middle half▲ 4.5pp8.9%within the sector's middle half▼ 3.8pp10.1%within the sector's middle half▲ 1.2pp2.2%within the sector's middle half▼ 7.9pp
Staff (FTE)4.1below the sector's middle half▲ 24.2%4.1below the sector's middle half=5.3below the sector's middle half▲ 29.3%4.9below the sector's middle half▼ 7.5%4.9within the sector's middle half=
above
within
below
the middle half (P25 to P75) of NACE 25, Manufacture of fabricated metal products, except machinery and equipment, each year against the same schema; no band under 30 filings.
Why a figure moved sharply
- 2025 Net result -78% on 2024. The accounts now follow the abbreviated schema, last year the full schema.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 75% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.6m
Fixed assets
€485,901 ▼ 9.9%
Current assets
€1.1m ▲ 1.6%
Equity and liabilities €1.6m
Equity
€997,728 ▲ 3.6%
Debt
€563,995 ▼ 11.3%
Debt's share of the balance-sheet total falls from 39.8% to 36.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€125,872▼
2024 · €302,077
Cash flow
€101,866▼
2024 · €228,599
Quick ratio
2.87▲
2024 · 2.43
Debt to equity
0.57▼
2024 · 0.66
ROE
3.5%▼
2024 · 16.8%
Interest coverage
11.79▼
2024 · 38.05
Debt ≤ 1 year
€262,938▼
2024 · €265,034
Debt > 1 year
€300,618▼
2024 · €369,923
Income taxes
€17,069▼
2024 · €70,671
Staff costs
€345,571▲
2024 · €301,197
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 17,039 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 94% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.5%
went bankrupt
4.9%
stopped otherwise
94%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.6% 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 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 17,039 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €2 | €4 | €40 | €36 | €28 | ▼ 23.7% |
| Remuneration, social security and pensions62 | €194,483 | €219,696 | €334,538 | €301,197 | €345,571 | ▲ 14.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €78,820 | €61,040 | €65,312 | €67,094 | €66,779 | ▼ 0.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | -€1,783 | -€268 | €38,841 | -€69,597 | -€22,879 | ▲ 67.1% |
| Other operating charges640/8 | €6,792 | €5,608 | €3,829 | €4,550 | €13,781 | ▲ 203% |
| Non-recurring operating charges66A | €1,314 | €8 | €39 | €64 | €103 | ▲ 61.0% |
| Gross operating margin9900 | €407,996 | €557,030 | €643,408 | €538,291 | €462,448 | ▼ 14.1% |
| Operating profit (loss)9901 | €128,369 | €270,946 | €200,848 | €234,983 | €59,093 | ▼ 74.9% |
| Financial income75/76B | €2,795 | €3,744 | €4,120 | €5,131 | €3,735 | ▼ 27.2% |
| Recurring financial income75 | €2,795 | €3,744 | €4,120 | €5,131 | €3,735 | ▼ 27.2% |
| Financial charges65/66B | €4,773 | €4,915 | €5,147 | €7,939 | €10,673 | ▲ 34.4% |
| Recurring financial charges65 | €4,773 | €4,915 | €5,147 | €7,939 | €10,673 | ▲ 34.4% |
| Profit (loss) for the period before taxes9903 | €126,391 | €269,776 | €199,821 | €232,176 | €52,156 | ▼ 77.5% |
| Income taxes67/77 | €28,034 | €78,575 | €49,204 | €70,671 | €17,069 | ▼ 75.8% |
| Profit (loss) for the period9904 | €98,358 | €191,201 | €150,616 | €161,505 | €35,087 | ▼ 78.3% |
| Profit (loss) for the period to be appropriated9905 | €98,358 | €191,201 | €150,616 | €161,505 | €35,087 | ▼ 78.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.2m | €1.5m | €1.7m | €1.6m | €1.6m | ▼ 2.3% |
| Fixed assets21/28 | €398,092 | €528,927 | €558,474 | €539,420 | €485,901 | ▼ 9.9% |
| Tangible fixed assets22/27 | €397,822 | €528,657 | €558,204 | €539,150 | €485,631 | ▼ 9.9% |
| Land and buildings22 | €331,914 | €407,657 | €375,838 | €344,019 | €312,199 | ▼ 9.2% |
| Plant, machinery and equipment23 | €25,485 | €21,548 | €16,963 | €13,661 | €9,272 | ▼ 32.1% |
| Furniture and vehicles24 | €25,868 | €17,761 | €15,245 | €10,435 | €8,471 | ▼ 18.8% |
| Other tangible fixed assets26 | €14,556 | €81,690 | €150,158 | €171,036 | €155,688 | ▼ 9.0% |
| Financial fixed assets28 | €270 | €270 | €270 | €270 | €270 | = |
| Current assets29/58 | €798,097 | €973,260 | €1.1m | €1.1m | €1.1m | ▲ 1.6% |
| Stocks and contracts in progress3 | €342,181 | €395,241 | €360,837 | €415,046 | €321,970 | ▼ 22.4% |
| Stocks30/36 | €342,181 | €395,241 | €360,837 | €415,046 | €321,970 | ▼ 22.4% |
| Amounts receivable within one year40/41 | €280,596 | €332,391 | €440,225 | €327,408 | €368,459 | ▲ 12.5% |
| Trade receivables40 | €273,234 | €328,206 | €396,993 | €314,758 | €303,357 | ▼ 3.6% |
| Other amounts receivable41 | €7,362 | €4,184 | €43,233 | €12,650 | €65,103 | ▲ 415% |
| Cash at bank and in hand54/58 | €170,548 | €239,657 | €333,674 | €308,027 | €377,572 | ▲ 22.6% |
| Deferred charges and accrued income490/1 | €4,772 | €5,973 | €249 | €8,271 | €7,822 | ▼ 5.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.2m | €1.5m | €1.7m | €1.6m | €1.6m | ▼ 2.3% |
| Equity10/15 | €679,297 | €870,498 | €1.0m | €962,641 | €997,728 | ▲ 3.6% |
| Contributions10/11 | €63,600 | €63,600 | €63,600 | €63,600 | €63,600 | = |
| Reserves13 | €615,697 | €806,898 | €957,514 | €899,041 | €934,128 | ▲ 3.9% |
| Distributable reserves133 | €615,697 | €806,898 | €957,514 | €899,041 | €934,128 | ▲ 3.9% |
| Amounts payable17/49 | €516,893 | €631,690 | €672,345 | €635,531 | €563,995 | ▼ 11.3% |
| Amounts payable after more than one year17 | €137,609 | €245,539 | €260,618 | €369,923 | €300,618 | ▼ 18.7% |
| Financial debts170/4 | €137,609 | €245,539 | €260,618 | €369,923 | €300,618 | ▼ 18.7% |
| Amounts payable within one year42/48 | €379,246 | €385,848 | €411,727 | €265,034 | €262,938 | ▼ 0.8% |
| Current portion of amounts payable after more than one year42 | €65,124 | €46,572 | €84,182 | €70,695 | €72,153 | ▲ 2.1% |
| Trade debts44 | €68,263 | €53,619 | €86,561 | €73,385 | €67,112 | ▼ 8.5% |
| Suppliers440/4 | €68,263 | €53,619 | €86,561 | €73,385 | €67,112 | ▼ 8.5% |
| Taxes, remuneration and social security45 | €67,540 | €107,336 | €107,165 | €53,156 | €55,874 | ▲ 5.1% |
| Taxes450/3 | €47,255 | €72,299 | €59,060 | €25,234 | €9,803 | ▼ 61.2% |
| Remuneration and social security454/9 | €20,285 | €35,037 | €48,105 | €27,922 | €46,072 | ▲ 65.0% |
| Other amounts payable47/48 | €178,319 | €178,319 | €133,819 | €67,798 | €67,798 | = |
| Accrued charges and deferred income492/3 | €38 | €303 | - | €574 | €439 | ▼ 23.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €98,358 | €191,201 | €150,616 | €161,505 | €35,087 | ▼ 78.3% |
| + Depreciation and write-downs630 | €78,820 | €61,040 | €65,312 | €67,094 | €66,779 | ▼ 0.5% |
| Operating cash flow (approximation) | €177,177 | €252,241 | €215,929 | €228,599 | €101,866 | ▼ 55.4% |
| Investment in fixed assets (approximation) | - | -€191,874 | -€94,859 | -€48,041 | -€13,259 | ▲ 72.4% |
| Change in cash | - | €69,109 | €94,017 | -€25,647 | €69,545 | ▲ 371% |
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
08-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
03-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
20-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 20 days late
2023
31-12
Financial
Equity above €1mEq €1.0m ▲17.3%
5 profitable years in a row build equity to €1.0m.
19-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Highest result since 2018net €191,201 ▲94.4%
Operating result €270,946, net result €191,201, both a record.
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 29 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 31 days late
2020
28-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 28 days late
2019
31-12
Financial
Back to profitnet €89,368
Net result €89,368 after one loss-making year.
31-12
Financial
Equity above €500,000Eq €535,144 ▲20%
Equity rises from €445,775 to €535,144.
27-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 27 days late
2018
16-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
17-07
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 7 acts read
About the unread acts
We know of 7 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
7 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, Frameries · 1 establishment unit since 2006
Ground area
2,040 m²
Parcel 53028A0437/00R004, Wallonia. Linked by address, not a title deed.
1 establishment unit
Matflex
since 20062.150.714.682
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 53028A0437/00R004 | Wallonia | 2,040 m² | - | - |
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.
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Of 3,462 companies in sector 25530 we hold annual accounts for 1,655. 1,132 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded29-12-2005
Fiscal year end31-12
Activities, NACEBEL 2025
25530Machining of metals
28120Manufacture of machinery and equipment not elsewhere classified
E-invoicing
Reachable via Peppol
Peppol ID
0208:0878260467
Also
9925:BE0878260467
Registered
17-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.