MATHEM
ActiveMATHEM has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €305k and a net result of €2k. Equity remains stable across the filed fiscal years (±0.8% per year). Its solvency ranks better than 80% of 4477 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
67
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability39▼-2
Solvency94▼-6
Growth58▼-20
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €20k at 30 days acceptable
Liquidity ample (current ratio 2.57 against 11.72 in 2024; short-term debt: 20.4% and cash: 6.4% of total assets), and 30.5% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six 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 81
Relative position
BE, all sectors
reference
Sector 81
higher
← 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
69.5%
Return on assets
0.5%
Age of the figures
15 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 21-11-2025, 71 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
71 d early
2024
46 d early
2023
76 d early
2022
68 d early
2021
69 d early
2020
24 d early
2019
31 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close22-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€305k▼ 44.8%
2024 · €553k
2019: €528k
2020: €528k
2021: €534k
2022: €537k
2023: €544k
2024: €553k
2019 → 2025
Total assets
€439k▼ 34.9%
2024 · €674k
2019: €834k
2020: €797k
2021: €766k
2022: €733k
2023: €703k
2024: €674k
2019 → 2025
Net result
€2k▼ 74.2%
2024 · €9k
2019: €2k
2020: €159
2021: €6k
2022: €4k
2023: €7k
2024: €9k
2019 → 2025
Working capital
€140k▼ 67.0%
2024 · €425k
2019: €584k
2020: €547k
2021: €517k
2022: €484k
2023: €454k
2024: €425k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€534k-€537k▲ 0.7%€544k▲ 1.3%€553k▲ 1.6%€305k▼ 44.8%
Operating result€17k-€14k▼ 19.6%€15k▲ 8.5%€13k▼ 12.7%€5k▼ 60.4%
Net result€6k-€4k▼ 28.6%€7k▲ 74.1%€9k▲ 25.5%€2k▼ 74.2%
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 60% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €439k
Fixed assets
€209k=
Current assets
€230k▼ 50.5%
Equity and liabilities €439k
Equity
€305k▼ 44.8%
Debt
€134k▲ 10.6%
The debt ratio rises from 18.0% to 30.5%. Equity is lower and debt is higher.
Key figures and ratios
Solvency
69.5%▼
2024 · 82.0%
Current ratio
2.57▼
2024 · 11.72
Quick ratio
2.57▼
2024 · 11.72
Debt / equity
0.44▲
2024 · 0.22
ROE
0.7%▼
2024 · 1.6%
ROA
0.5%▼
2024 · 1.3%
Debt
€134k▲
2024 · €121k
Debt ≤ 1 year
€90k▲
2024 · €40k
Debt > 1 year
€34k▼
2024 · €72k
Income taxes
€-5▼
2024 · €7
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€674k€439k▼
Fixed assets21/28€209k€209k=
Tangible fixed assets22/27€209k€209k=
Other tangible fixed assets26€209k€209k=
Current assets29/58€465k€230k▼
Amounts receivable after more than one year29€192k€110k▼
Trade receivables290€192k€110k▼
Amounts receivable within one year40/41€78k€82k▲
Trade receivables40€77k€82k▲
Other amounts receivable41€550€460▼
Cash at bank and in hand54/58€167k€28k▼
Deferred charges and accrued income490/1€28k€10k▼
Equity and liabilities
Total equity and liabilities10/49€674k€439k▼
Equity10/15€553k€305k▼
Contributions10/11€700k€450k▼
Reserves13€200€200=
Distributable reserves133€200€200=
Profit (loss) carried forward14€-147k€-145k▲
Amounts payable17/49€121k€134k▲
Amounts payable after more than one year17€72k€34k▼
Financial debts170/4€72k€34k▼
Amounts payable within one year42/48€40k€90k▲
Current portion of amounts payable after more than one year42€38k€38k=
Trade debts44€387€400▲
Suppliers440/4€387€400▲
Taxes, remuneration and social security45€2k€2k=
Taxes450/3€2k€2k=
Other amounts payable47/48-€50k
Accrued charges and deferred income492/3€10k€10k▲
Income statement
Code20242025
Other operating charges640/8€19k€20k▲
Gross operating margin9900€32k€25k▼
Operating profit (loss)9901€13k€5k▼
Financial income75/76B€2k€2k▼
Recurring financial income75€2k€2k▼
Financial charges65/66B€6k€4k▼
Recurring financial charges65€6k€4k▼
Profit (loss) for the period before taxes9903€9k€2k▼
Income taxes67/77€7€-5▼
Profit (loss) for the period9904€9k€2k▼
Profit (loss) for the period to be appropriated9905€9k€2k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-147k€-145k▲
Profit (loss) brought forward from the previous period14P€-156k€-147k▲
The notes to these accounts (6 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
2025
21-11
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2024
16-12
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
30-06
Financial
Highest result since 2019net €9k ▲25.5%
Net result €9k, the highest in the series.
2023
16-11
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2022
24-11
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2021
23-11
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
07-01
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-06
Financial
Weakest financial yearnet €159 ▼89.9%
Net result drops to €159, the lowest in the series; recovery starts the following year.
2019
31-12
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
07-01
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
05-01
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
10-01
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
4 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, Beernem · 1 establishment unit since 2007
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.
Bruggestraat 238730 BeernemGround area
1,328 m²
Building footprint
587 m²
Volume, LiDAR
3,408 m³
Parcel 31021G0004/00P002, Flanders · tallest building 11.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MATHEM
since 20072.160.831.386
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31021G0004/00P002 | Flanders | 1,328 m² | 1 · 587 m² | 11.0 m · 2 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.
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VANJA
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BURO V.E.M.
BE 0835.689.444
Dentergem · Eq €312k
FÉLOU
BE 0661.870.590
Knokke-Heist · Eq €298k
RECUPER ZELE
BE 0444.410.250
Zele · Eq €312k
Of 1,280 companies in sector 81100 we hold annual accounts for 677. 471 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded14-03-2007
Fiscal year end30-06
Activities, NACEBEL
70322
81100Combined facilities support activities
Sources
Crossroads Bank for EnterprisesNational Bank · 19 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.