MATHEMAP
ActiveSummary
MATHEMAP has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €104,677 and a net result of €54,764. Equity is growing by ~46.2% per year across the filed fiscal years. Its solvency ranks better than 95% of 14462 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Overview
What they do
Real estate agency activities
NACE 68310NACE 68311NACE 70311
1 site
How big
€109,823total assets 2025
- Equity
- €104,677
- Profit
- €54,764
Turnover not published (abridged schema)
Who decides
Accounts 2 d early0 of 7 deeds read
Why 95- Higher-failure-rate region+ Lower-failure-rate sector+ Long track record+ Annual accounts: healthy financial profileLatest accounts filed on timeShow the evidence
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €9,000 at 30 days acceptable
Liquidity ample (current ratio 21.19 against 6.22 in 2024; short-term debt: 4.7% and cash: 30.2% of total assets), and 4.7% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← 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
95.3%
Return on assets
49.9%
Age of the figures
9 mo
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 29-07-2026, 2 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
2 d early
2024
21 d late
2023
26 d late
2022
6 d early
2021
17 d late
2020
10 d late
2019
24 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 13 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% 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 17 August (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
- Annual accounts filedfiscal year 2025 · micro…
- Liquidity triplescurrent ratio 21.19
- Equity above €100,000Eq €104,677 ▲110%
Financials
Fiscal year 2025Total assets €109,823Profit €54,764Solvency 95.3%Liquidity 21.19
Total assets
€109,823▲ 85.6%
2018 - 2025
Net result
€54,764=
2018 - 2025
Equity
€104,677▲ 110%
2018 - 2025
Solvency
95.3%▲ 11.0pp
2018 - 2025
Financials · fiscal year 2025, micro schema
Trend over the years
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€57,925▲ 26.1%€79,686▲ 37.6%€85,635▲ 7.5%€79,440▼ 7.2%€78,840▼ 0.8%
Net result€43,281above the sector's middle half▲ 25.9%€59,525above the sector's middle half▲ 37.5%€63,307above the sector's middle half▲ 6.4%€54,766above the sector's middle half▼ 13.5%€54,764above the sector's middle half=
Equity-€68,712below the sector's middle half▲ 38.6%-€9,187below the sector's middle half▲ 86.6%€54,121within the sector's middle half€49,913within the sector's middle half▼ 7.8%€104,677within the sector's middle half▲ 110%
Total assets€27,965below the sector's middle half▲ 132%€44,245below the sector's middle half▲ 58.2%€63,817below the sector's middle half▲ 44.2%€59,171below the sector's middle half▼ 7.3%€109,823below the sector's middle half▲ 85.6%
Debt€96,678▼ 22.1%€53,432▼ 44.7%€9,697▼ 81.9%€9,258▼ 4.5%€5,146▼ 44.4%
Working capital-€69,822below the sector's middle half▲ 38.5%-€11,011within the sector's middle half▲ 84.2%€51,823within the sector's middle half€48,373within the sector's middle half▼ 6.7%€103,894within the sector's middle half▲ 115%
Solvency-245.7%below the sector's middle half▲ 683.1pp-20.8%below the sector's middle half▲ 224.9pp84.8%above the sector's middle half▲ 105.6pp84.4%above the sector's middle half▼ 0.5pp95.3%above the sector's middle half▲ 11.0pp
Current ratio0.28below the sector's middle half▲ 0.190.79within the sector's middle half▲ 0.526.34above the sector's middle half▲ 5.556.22above the sector's middle half▼ 0.1221.19above the sector's middle half▲ 14.96
Return on assets (ROA)154.8%above the sector's middle half▼ 130.3pp134.5%above the sector's middle half▼ 20.2pp99.2%above the sector's middle half▼ 35.3pp92.6%above the sector's middle half▼ 6.6pp49.9%above the sector's middle half▼ 42.7pp
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result and balance sheet
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 1% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €109,823
Fixed assets
€783 ▼ 49.2%
Current assets
€109,040 ▲ 89.2%
Equity and liabilities €109,823
Equity
€104,677 ▲ 110%
Debt
€5,146 ▼ 44.4%
Debt's share of the balance-sheet total falls from 15.6% to 4.7%. Equity is higher and debt is lower.
Key figures and ratios
Key figures and ratios
EBITDA
€79,597▼
2024 · €80,197
Cash flow
€55,522=
2024 · €55,523
Debt to equity
0.05▼
2024 · 0.19
ROE
52.3%▼
2024 · 109.7%
Interest coverage
909.16▼
2024 · 1215.30
Debt ≤ 1 year
€5,146▼
2024 · €9,258
Income taxes
€25,613▲
2024 · €24,609
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,371 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.5%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,341 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% | 1.8% |
| 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 31,371 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.
Filed annual accounts
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €417 | €362 | €526 | €757 | €757 | = |
| Other operating charges640/8 | - | - | €496 | €587 | €600 | ▲ 2.1% |
| Gross operating margin9900 | €58,342 | €80,048 | €86,656 | €80,785 | €80,197 | ▼ 0.7% |
| Operating profit (loss)9901 | €57,925 | €79,686 | €85,635 | €79,440 | €78,840 | ▼ 0.8% |
| Financial income75/76B | - | - | - | €0 | €1,624 | ▲ 16,244,300% |
| Recurring financial income75 | - | - | - | €0 | €1,624 | ▲ 16,244,300% |
| Financial charges65/66B | €60 | €60 | €60 | €66 | €88 | ▲ 32.7% |
| Recurring financial charges65 | €60 | €60 | €60 | €66 | €88 | ▲ 32.7% |
| Profit (loss) for the period before taxes9903 | €57,865 | €79,626 | €85,574 | €79,374 | €80,377 | ▲ 1.3% |
| Income taxes67/77 | €14,584 | €20,100 | €22,267 | €24,609 | €25,613 | ▲ 4.1% |
| Profit (loss) for the period9904 | €43,281 | €59,525 | €63,307 | €54,766 | €54,764 | = |
| Profit (loss) for the period to be appropriated9905 | €43,281 | €59,525 | €63,307 | €54,766 | €54,764 | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €27,965 | €44,245 | €63,817 | €59,171 | €109,823 | ▲ 85.6% |
| Fixed assets21/28 | €1,110 | €1,825 | €2,297 | €1,540 | €783 | ▼ 49.2% |
| Tangible fixed assets22/27 | €1,110 | €1,825 | €2,297 | €1,540 | €783 | ▼ 49.2% |
| Plant, machinery and equipment23 | €1,110 | €888 | €666 | €444 | €222 | ▼ 50.0% |
| Furniture and vehicles24 | - | €937 | €1,631 | €1,096 | €561 | ▼ 48.8% |
| Current assets29/58 | €26,856 | €42,420 | €61,520 | €57,631 | €109,040 | ▲ 89.2% |
| Amounts receivable within one year40/41 | €2,575 | €4,816 | €7,015 | €1,428 | €5,864 | ▲ 311% |
| Trade receivables40 | €968 | €3,000 | €1,692 | €1,428 | €1,179 | ▼ 17.4% |
| Other amounts receivable41 | €1,607 | €1,816 | €5,323 | - | €4,685 | - |
| Current investments50/53 | - | - | - | €50,000 | €70,000 | ▲ 40.0% |
| Cash at bank and in hand54/58 | €24,281 | €37,604 | €54,506 | €6,203 | €33,176 | ▲ 435% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €27,965 | €44,245 | €63,817 | €59,171 | €109,823 | ▲ 85.6% |
| Equity10/15 | -€68,712 | -€9,187 | €54,121 | €49,913 | €104,677 | ▲ 110% |
| Contributions10/11 | €61,973 | €61,973 | €61,973 | €3,000 | €3,000 | = |
| Capital10 | €61,973 | €61,973 | €61,973 | - | - | - |
| Issued capital100 | €61,973 | €61,973 | €61,973 | - | - | - |
| Reserves13 | - | - | - | €46,500 | €100,500 | ▲ 116% |
| Non-distributable reserves130/1 | - | - | - | €46,500 | €100,500 | ▲ 116% |
| Reserves not available under the articles1311 | - | - | - | €46,500 | €100,500 | ▲ 116% |
| Profit (loss) carried forward14 | -€130,686 | -€71,160 | -€7,853 | €413 | €1,177 | ▲ 185% |
| Amounts payable17/49 | €96,678 | €53,432 | €9,697 | €9,258 | €5,146 | ▼ 44.4% |
| Amounts payable within one year42/48 | €96,678 | €53,432 | €9,697 | €9,258 | €5,146 | ▼ 44.4% |
| Trade debts44 | €172 | - | - | - | - | - |
| Suppliers440/4 | €172 | - | - | - | - | - |
| Taxes, remuneration and social security45 | - | €924 | €5,268 | €2,740 | €5,146 | ▲ 87.8% |
| Taxes450/3 | - | €924 | €5,268 | €2,740 | €5,146 | ▲ 87.8% |
| Other amounts payable47/48 | €96,505 | €52,507 | €4,429 | €6,518 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €43,281 | €59,525 | €63,307 | €54,766 | €54,764 | = |
| + Depreciation and write-downs630 | €417 | €362 | €526 | €757 | €757 | = |
| Operating cash flow (approximation) | €43,698 | €59,888 | €63,833 | €55,523 | €55,522 | = |
| Investment in fixed assets (approximation) | - | -€1,078 | -€998 | €0 | €0 | - |
| Change in cash | - | €13,324 | €16,901 | -€48,302 | €26,972 | ▲ 156% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Comparable companies
Similar companies · same sector, comparable size
THE ATTIC COMPANY
BE 0452.773.927
Gent · Eq €104,598
JACOBS
BE 0448.255.113
Zandhoven · Eq €104,515
Bob Group
BE 0779.518.526
Antwerpen · Eq €104,903
FOUR SEVENTY ONE
BE 0456.743.009
Elsene · Eq €104,930
Found & Baker Properties Gent
BE 0743.489.063
Sint-Martens-Latem · Eq €105,024
Of 11,749 companies in this sector we hold annual accounts for 6,910. 5,198 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Timeline
15 eventsLatest 29-07-2026Next filing 31-07-2027
History
Acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
29-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Liquidity triplescurrent ratio 21.19
Current ratio from 6.22 to 21.19; short-term debt falls from €9,258 to €5,146.
31-12
Financial
Equity above €100,000Eq €104,677 ▲110%
8 profitable years in a row build equity to €104,677.
21-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 21 days late
2024
26-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 26 days late
2023
31-12
Financial
Highest result since 2018net €63,307 ▲6.4%
Operating result €85,635, net result €63,307, both a record.
31-12
Financial
Liquidity times 8current ratio 6.34
Current ratio from 0.79 to 6.34; short-term debt falls from €53,432 to €9,697.
25-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
17-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 17 days late
2021
10-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 10 days late
2020
24-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 24 days late
2019
31-12
Financial
Weakest financial yearnet €21,474 ▼2.4%
Net result drops to €21,474, the lowest in the series; recovery starts the following year.
Show earlier events
16-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 16 days late
2018
14-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 14 days late
2017
16-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 16 days late
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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Company details
Private limited company · founded 27-07-1993Year ends 31-12Peppol reachable1 site
Register details
Identification
Legal formPrivate limited company
Founded27-07-1993
Fiscal year end31-12
Activities, NACEBEL 2025
68310Real estate agency activities
64999Other financial services
73200Market research and public opinion polling
85599Other education
E-invoicing
Reachable via Peppol
Peppol ID
0208:0450655268
Registered
28-11-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Sites & property
Location & real-estate footprint
Registered office, Lasne · 1 establishment unit since 1993
Ground area
2,344 m²
Building footprint
225 m²
Volume, LiDAR
1,332 m³
Parcel 25051E0192/00G000, Wallonia · tallest building 8.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Rue des Fiefs 4, 1380 Lasne
since 1993unit no. 2.063.445.267
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25051E0192/00G000 | Wallonia | 2,344 m² | 1 · 225 m² | 8.4 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.
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
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