Summary
MATHEA is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €7.06M and a net result of €58k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 95% of 8048 sector peers (fiscal year 2025). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The health score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
Credit check for your own amount and term
Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-08-2026, 30 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 7 filingsDeviation from the deadline
2025
30 d late
2024
29 d late
2023
61 d late
2022
6 d early
2021
3 d early
2020
10 d late
2019
54 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€7.06M▼ 2.9%
2024 · €7.27M
Net result
€58k▼ 41.6%
2024 · €100k
Total assets
€7.18M▼ 3.5%
2024 · €7.44M
Solvency
98.2%▲ 0.5pp
2024 · 97.7%
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€-541▲ 93.8%€-545▼ 0.8%€6.64M€119k▼ 98.2%€79k▼ 34.1%
Net result€271k€-584€6.66M€100k▼ 98.5%€58k▼ 41.6%
Equity€510k▲ 112%€509k▼ 0.1%€7.17M▲ 1,308%€7.27M▲ 1.4%€7.06M▼ 2.9%
Total assets€537k▲ 121%€536k▼ 0.1%€7.21M▲ 1,245%€7.44M▲ 3.2%€7.18M▼ 3.5%
Debt€27k▲ 794%€27k=€43k▲ 57.2%€174k▲ 307%€128k▼ 26.0%
Working capital€301k▲ 852%€301k▼ 0.2%€6.00M▲ 1,896%€5.91M▼ 1.5%€5.82M▼ 1.6%
Solvency94.9%▼ 3.8pp94.9%=99.4%▲ 4.5pp97.7%▼ 1.7pp98.2%▲ 0.5pp
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 has fallen two years in a row; 2025 is 34% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €7.18M
Fixed assets
€1.28M ▼ 8.7%
Current assets
€5.90M ▼ 2.3%
Equity and liabilities €7.18M
Equity
€7.06M ▼ 2.9%
Debt
€128k ▼ 26.0%
Debt's share of the balance-sheet total falls from 2.3% to 1.8%. Equity and debt are lower.
Key figures and ratios
ROE
0.8%▼
2024 · 1.4%
ROA
0.8%▼
2024 · 1.3%
Debt ≤ 1 year
€81k▼
2024 · €126k
Income taxes
€17k▼
2024 · €33k
Staff costs
€0▼
2024 · €162
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €6.62M | €0 | - | - |
| Remuneration, social security and pensions62 | - | - | - | €162 | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | €84k | €92k | €121k | ▲ 31.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €-108k | €0 | ▲ 100% |
| Other operating charges640/8 | €468 | €469 | €36k | €38k | €2k | ▼ 93.6% |
| Gross operating margin9900 | €-73 | €-76 | €6.76M | €141k | €202k | ▲ 43.2% |
| Operating profit (loss)9901 | €-541 | €-545 | €6.64M | €119k | €79k | ▼ 34.1% |
| Financial income75/76B | €299k | €0 | €27k | €13k | €8k | ▼ 40.0% |
| Recurring financial income75 | €299k | €0 | €27k | €13k | €8k | ▼ 40.0% |
| Financial charges65/66B | €37 | €39 | €-9k | €193 | €11k | ▲ 5,599% |
| Recurring financial charges65 | €37 | €39 | €-9k | €193 | €11k | ▲ 5,599% |
| Profit (loss) for the period before taxes9903 | €298k | €-584 | €6.67M | €132k | €76k | ▼ 42.9% |
| Income taxes67/77 | €27k | €0 | €15k | €33k | €17k | ▼ 47.1% |
| Profit (loss) for the period9904 | €271k | €-584 | €6.66M | €100k | €58k | ▼ 41.6% |
| Profit (loss) for the period to be appropriated9905 | €271k | €-584 | €6.66M | €100k | €58k | ▼ 41.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €537k | €536k | €7.21M | €7.44M | €7.18M | ▼ 3.5% |
| Fixed assets21/28 | €208k | €208k | €1.19M | €1.40M | €1.28M | ▼ 8.7% |
| Tangible fixed assets22/27 | - | - | €1.18M | €1.39M | €1.27M | ▼ 8.7% |
| Land and buildings22 | - | - | €1.16M | €1.31M | €1.22M | ▼ 7.2% |
| Plant, machinery and equipment23 | - | - | €2k | €2k | €876 | ▼ 51.1% |
| Furniture and vehicles24 | - | - | €23k | €80k | €54k | ▼ 32.4% |
| Financial fixed assets28 | €208k | €208k | €7k | €7k | €7k | = |
| Current assets29/58 | €329k | €328k | €6.02M | €6.04M | €5.90M | ▼ 2.3% |
| Amounts receivable after more than one year29 | - | - | €55k | €0 | - | - |
| Other amounts receivable291 | - | - | €55k | €0 | - | - |
| Amounts receivable within one year40/41 | €299k | €299k | €281k | €113k | €103k | ▼ 9.4% |
| Other amounts receivable41 | €299k | €299k | €281k | €113k | €103k | ▼ 9.4% |
| Current investments50/53 | - | - | €5.50M | €5.80M | €5.65M | ▼ 2.6% |
| Cash at bank and in hand54/58 | €30k | €29k | €156k | €93k | €116k | ▲ 24.2% |
| Deferred charges and accrued income490/1 | - | - | €30k | €33k | €35k | ▲ 4.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €537k | €536k | €7.21M | €7.44M | €7.18M | ▼ 3.5% |
| Equity10/15 | €510k | €509k | €7.17M | €7.27M | €7.06M | ▼ 2.9% |
| Contributions10/11 | €13k | €13k | €13k | €13k | €13k | = |
| Reserves13 | €497k | €497k | €7.16M | €7.26M | €7.04M | ▼ 2.9% |
| Non-distributable reserves130/1 | €1k | €1k | €0 | - | - | - |
| Reserves not available under the articles1311 | €1k | €1k | €0 | - | - | - |
| Distributable reserves133 | €496k | €496k | €7.16M | €7.26M | €7.04M | ▼ 2.9% |
| Profit (loss) carried forward14 | €65 | €-519 | €14 | €35 | €22 | ▼ 36.0% |
| Amounts payable17/49 | €27k | €27k | €43k | €174k | €128k | ▼ 26.0% |
| Amounts payable after more than one year17 | - | - | €5k | €0 | - | - |
| Financial debts170/4 | - | - | €5k | €0 | - | - |
| Amounts payable within one year42/48 | €27k | €27k | €18k | €126k | €81k | ▼ 35.6% |
| Current portion of amounts payable after more than one year42 | - | - | €145 | €0 | - | - |
| Trade debts44 | - | - | €3k | €72k | €32k | ▼ 55.6% |
| Suppliers440/4 | - | - | €3k | €72k | €32k | ▼ 55.6% |
| Taxes, remuneration and social security45 | €27k | €27k | €15k | €40k | €18k | ▼ 56.2% |
| Taxes450/3 | €27k | €27k | €15k | €34k | €15k | ▼ 57.4% |
| Remuneration and social security454/9 | - | - | - | €6k | €3k | ▼ 50.0% |
| Other amounts payable47/48 | - | - | - | €13k | €31k | ▲ 135% |
| Accrued charges and deferred income492/3 | - | - | €20k | €48k | €47k | ▼ 1.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €271k | €-584 | €6.66M | €100k | €58k | ▼ 41.6% |
| + Depreciation and write-downs630 | - | - | €84k | €92k | €121k | ▲ 31.4% |
| Operating cash flow (approximation) | €271k | €-584 | €6.74M | €192k | €180k | ▼ 6.5% |
| Investment in fixed assets (approximation) | - | €0 | €-1.06M | €-305k | €0 | ▲ 100% |
| Change in cash | - | €-584 | €126k | €-62k | €23k | ▲ 136% |
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
30-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 30 days late
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 61 days late
2023
31-12
Financial
Back to profitnet €6.66M
Net result €6.66M after one loss-making year.
31-12
Financial
Liquidity times 28current ratio 333.62
Current ratio from 12.10 to 333.62; short-term debt falls from €27k to €18k.
31-12
Financial
Equity above €5MEq €7.17M ▲1,308%
Equity rises from €509k to €7.17M.
25-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
28-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Back to profitnet €271k
Net result €271k after 2 loss-making years.
31-12
Financial
Equity above €500kEq €510k ▲112%
Equity rises from €240k to €510k.
10-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 10 days late
2020
31-12
Financial
Liquidity doublescurrent ratio 11.43
Current ratio from 5.07 to 11.43; short-term debt falls from €10k to €3k.
23-09
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 54 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Beveren-Kruibeke-Zwijndrecht · 1 establishment unit since 2019
Ground area
150 m²
Building footprint
258 m²
Volume, LiDAR
1,051 m³
Parcel 46010B0115/00F000, Flanders · tallest building 8.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Hoog-Kallostraat(KAL) 13, 9120 Beveren-Kruibeke-Zwijndrecht
since 20192.298.067.679
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46010B0115/00F000 | Flanders | 150 m² | 1 · 258 m² | 8.0 m · 2 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.
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Of 24,730 companies in sector 64210 we hold annual accounts for 19,766. 7,078 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
Founded04-10-2019
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
68110Buying and selling of own real estate
Scores and ratios are computed by Checked and are not a credit decision.