MATHECO
ActiveSummary
MATHECO has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €469k and a net result of €453. Equity is growing by ~7.7% per year across the filed fiscal years. Its solvency ranks better than 30% of 509 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2024
61
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability69▲+56
Solvency52▼-4
Growth52=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days acceptable
Liquidity tight (current ratio 1.22 against 1.53 in 2023; short-term debt: 52% and cash: 8.4% of total assets), and 72.5% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 31-12-2024 was due by 31-07-2025 and was filed on 13-06-2025, 48 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
48 d early
2023
43 d early
2023
5 d early
2022
4 d early
2021
23 d early
2020
4 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, abbreviated schema
Equity
€469k▲ 0.1%
2023 · €469k
2019: €357k
2021: €374k
2022: €493k
2023: €534k
2023: €469k
2019 → 2024
Total assets
€1.71M▲ 12.7%
2023 · €1.52M
2019: €1.92M
2021: €1.46M
2022: €1.61M
2023: €1.78M
2023: €1.52M
2019 → 2024
Net result
€453
2023 · €-65k
2019: €87k
2021: €16k
2022: €119k
2023: €40k
2023: €-65k
2019 → 2024
Working capital
€200k▼ 44.9%
2023 · €363k
2019: €125k
2021: €97k
2022: €209k
2023: €257k
2023: €363k
2019 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320232024Trend
Equity€374k-€493k▲ 31.7%€534k▲ 8.2%€469k▼ 12.2%€469k▲ 0.1%
Operating result€48k-€182k▲ 281%€77k▼ 57.9%€-49k€27k
Net result€16k-€119k▲ 621%€40k▼ 65.9%€-65k€453
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
Multiple fiscal year ends fall in the same calendar year; an annual trend is not displayed.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.71M
Fixed assets
€620k ▲ 30.7%
Current assets
€1.09M ▲ 4.4%
Equity and liabilities €1.71M
Equity
€469k ▲ 0.1%
Provisions
€5k
Debt
€1.23M ▲ 17.8%
Debt's share of the balance-sheet total rises from 69.1% to 72.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€107k▲
2023 · €-10k
Cash flow
€81k▲
2023 · €-26k
Current ratio
1.22▼
2023 · 1.53
Quick ratio
0.94▼
2023 · 1.06
Debt to equity
2.63▲
2023 · 2.24
ROE
0.1%▲
2023 · -13.9%
ROA
0.0%▲
2023 · -4.3%
Interest coverage
7.43▲
2023 · -1.25
Debt ≤ 1 year
€889k▲
2023 · €679k
Debt > 1 year
€103k▼
2023 · €133k
Income taxes
€13k▲
2023 · €10k
Staff costs
€1.36M▲
2023 · €877k
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 · 2024 against 2023 · 60 lines
Balance sheet
Code20232024
Assets
Total assets20/58€1.52M€1.71M▲
Fixed assets21/28€474k€620k▲
Tangible fixed assets22/27€472k€618k▲
Land and buildings22€334k€318k▼
Plant, machinery and equipment23€5k€5k▲
Furniture and vehicles24€133k€295k▲
Financial fixed assets28€2k€2k=
Current assets29/58€1.04M€1.09M▲
Stocks and contracts in progress3€321k€253k▼
Stocks30/36€264k€206k▼
Contracts in progress37€57k€46k▼
Amounts receivable within one year40/41€511k€672k▲
Trade receivables40€501k€662k▲
Other amounts receivable41€10k€11k▲
Cash at bank and in hand54/58€192k€144k▼
Deferred charges and accrued income490/1€18k€20k▲
Equity and liabilities
Total equity and liabilities10/49€1.52M€1.71M▲
Equity10/15€469k€469k▲
Contributions10/11€161k€161k=
Reserves13€372k€372k=
Distributable reserves133€372k€372k=
Profit (loss) carried forward14€-65k€-65k▲
Provisions and deferred taxes16-€5k
Provisions for liabilities and charges160/5-€5k
Environmental obligations163-€5k
Amounts payable17/49€1.05M€1.23M▲
Amounts payable after more than one year17€133k€103k▼
Financial debts170/4€133k€103k▼
Amounts payable within one year42/48€679k€889k▲
Current portion of amounts payable after more than one year42€38k€28k▼
Trade debts44€437k€436k=
Suppliers440/4€437k€436k=
Advances received on contracts in progress46€0-
Taxes, remuneration and social security45€205k€224k▲
Taxes450/3€51k€29k▼
Remuneration and social security454/9€154k€195k▲
Other amounts payable47/48-€200k
Accrued charges and deferred income492/3€235k€243k▲
Income statement
Code20232024
Non-recurring operating income76A€7k€57k▲
Remuneration, social security and pensions62€877k€1.36M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€39k€80k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€50k€11k▼
Provisions for liabilities and charges: additions (uses and reversals)635/8€0€5k▲
Other operating charges640/8€2k€15k▲
Non-recurring operating charges66A€40€12k▲
Gross operating margin9900€919k€1.51M▲
Operating profit (loss)9901€-49k€27k▲
Financial income75/76B€1k€727▼
Recurring financial income75€1k€727▼
Financial charges65/66B€8k€14k▲
Recurring financial charges65€8k€14k▲
Profit (loss) for the period before taxes9903€-55k€13k▲
Income taxes67/77€10k€13k▲
Profit (loss) for the period9904€-65k€453▲
Profit (loss) for the period to be appropriated9905€-65k€453▲
Appropriation of the result
Profit (loss) to be appropriated9906€-65k€-65k▲
Profit (loss) brought forward from the previous period14P€0€-65k▼
Transfer to equity691/2€0-
To the legal reserve6920€0-
Social balance
Average headcount (FTE)908715.018.1▲
The notes to these accounts (23 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
13-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Back to profitnet €453
Net result €453 after one loss-making year.
18-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Weakest financial yearnet €-65k ▼261%
Net result drops to €-65k, the lowest in the series; recovery starts the following year.
26-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
31-03
Financial
Equity above €500kEq €534k ▲8.2%
4 profitable years in a row build equity to €534k.
2022
27-10
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
31-03
Financial
Highest result since 2019net €119k ▲621%
Operating result €182k, net result €119k, both a record.
2021
08-10
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2020
27-10
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2019
27-09
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
26-10
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
04-10
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
24-10
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.
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, Wetteren · 2 establishment units since 2001
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Kwatrechtsteenweg 144 C9230 WetterenGround area
7.7 ha
Building footprint
1.2 ha
Volume, LiDAR
5,129 m³
2 parcels, Flanders · tallest building 7.8 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
Kwatrechtsteenweg 144, 9230 Wetteren
since 20012.116.689.656
MATHECO
since 20252.368.645.572
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24662G0199/00F000 | Flanders | 7.2 ha | 1 · 1.1 ha | - |
| 42025G0563/00K000 | Flanders | 5,015 m² | 1 · 1,034 m² | 7.8 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Recognised contractor
2 categoriesMATHECO BV42116
Dual-learning approval
2 live approvalsKoelinstallaties duaal (so)
Technicus koelinstallaties duaal (so)
Similar companies · same sector, comparable size
Klimatisatie Vandeputte
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BE 0676.544.811
Bocholt · Eq €463k
KOELTECHNIEK VERLINDEN
BE 0453.187.661
Bornem · Eq €462k
Ateliers Somville
BE 0407.937.557
Aiseau-Presles · Eq €476k
REFRIGERATION LAMBERT
BE 0457.080.232
Thuin · Eq €461k
Of 462 companies in sector 28250 we hold annual accounts for 285. 227 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
Founded13-08-2001
Fiscal year end31-12
Activities, NACEBEL 2025
28250Manufacture of machinery and equipment not elsewhere classified
43222Installation of electric heating, air conditioning, cooling and ventilation
Sources
Crossroads Bank for EnterprisesNational Bank · 23 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.