MATHICO
ActiveSummary
MATHICO has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €665k and a net result of €80k. Equity is growing by ~16.4% per year across the filed fiscal years. Its solvency ranks better than 60% of 3187 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
86
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability78=
Solvency89▲+10
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €55k at 30 days acceptable
Liquidity short (current ratio 0.01 against 0.07 in 2024; short-term debt: 26.8% of total assets), and 35.5% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Four 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 70
Relative position
BE, all sectors
reference
Sector 70
lower
← 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
64.5%
Return on assets
7.8%
Age of the figures
18 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 14-10-2025, 17 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
17 d early
2024
1 d early
2023
7 d early
2022
3 d early
2021
10 d early
2020
3 d early
2019
9 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close24-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€80k▲ 1.7%
2024 · €79k
2019: €119k
2020: €51k
2021: €70k
2022: €74k
2023: €56k
2024: €79k
2019 → 2025
Working capital
€-274k▲ 3.9%
2024 · €-285k
2019: €-104k
2020: €-159k
2021: €-201k
2022: €-243k
2023: €-250k
2024: €-285k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€364k-€438k▲ 20.3%€506k▲ 15.5%€585k▲ 15.6%€665k▲ 13.7%
Operating result€102k-€106k▲ 4.2%€79k▼ 25.8%€109k▲ 37.8%€113k▲ 4.3%
Net result€70k-€74k▲ 6.2%€56k▼ 24.7%€79k▲ 41.9%€80k▲ 1.7%
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 4% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.03M
Fixed assets
€1.03M ▼ 4.1%
Current assets
€3k ▼ 82.9%
Equity and liabilities €1.03M
Equity
€665k ▲ 13.7%
Provisions
€1k ▼ 37.7%
Debt
€365k ▼ 27.7%
Debt's share of the balance-sheet total falls from 46.2% to 35.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€157k▲
2024 · €141k
Cash flow
€124k▲
2024 · €111k
Current ratio
0.01▼
2024 · 0.07
Debt to equity
0.55▼
2024 · 0.86
ROE
12.1%▼
2024 · 13.5%
ROA
7.8%▲
2024 · 7.2%
Interest coverage
17.57▲
2024 · 17.10
Debt ≤ 1 year
€277k▼
2024 · €305k
Debt > 1 year
€86k▼
2024 · €193k
Income taxes
€25k▲
2024 · €22k
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 · 2025 against 2024 · 49 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.09M€1.03M▼
Fixed assets21/28€1.07M€1.03M▼
Tangible fixed assets22/27€180k€137k▼
Furniture and vehicles24€180k€137k▼
Financial fixed assets28€892k€892k=
Current assets29/58€20k€3k▼
Amounts receivable within one year40/41€10k-
Trade receivables40€10k-
Cash at bank and in hand54/58€4k-
Deferred charges and accrued income490/1€7k€3k▼
Equity and liabilities
Total equity and liabilities10/49€1.09M€1.03M▼
Equity10/15€585k€665k▲
Contributions10/11€19k€19k=
Reserves13€8k€6k▼
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Tax-exempt reserves132€7k€4k▼
Profit (loss) carried forward14€558k€641k▲
Provisions and deferred taxes16€2k€1k▼
Deferred taxes168€2k€1k▼
Amounts payable17/49€505k€365k▼
Amounts payable after more than one year17€193k€86k▼
Financial debts170/4€193k€86k▼
Amounts payable within one year42/48€305k€277k▼
Current portion of amounts payable after more than one year42€106k€111k▲
Financial debts43€26€328▲
Credit institutions430/8€26€328▲
Trade debts44€44k€19k▼
Suppliers440/4€44k€19k▼
Taxes, remuneration and social security45€47k€77k▲
Taxes450/3€47k€77k▲
Other amounts payable47/48€108k€70k▼
Accrued charges and deferred income492/3€8k€2k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€32k€44k▲
Other operating charges640/8€8k€4k▼
Gross operating margin9900€149k€162k▲
Operating profit (loss)9901€109k€113k▲
Financial income75/76B-€42
Recurring financial income75-€42
Financial charges65/66B€8k€9k▲
Recurring financial charges65€8k€9k▲
Profit (loss) for the period before taxes9903€101k€105k▲
Transfer from deferred taxes780€825€825=
Income taxes67/77€22k€25k▲
Profit (loss) for the period9904€79k€80k▲
Transfer from tax-exempt reserves789€2k€2k=
Profit (loss) for the period to be appropriated9905€81k€83k▲
Appropriation of the result
Profit (loss) to be appropriated9906€558k€641k▲
Profit (loss) brought forward from the previous period14P€477k€558k▲
The notes to these accounts (7 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
14-10
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2024
30-10
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2023
24-10
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
31-03
Financial
Equity above €500kEq €506k ▲15.5%
5 profitable years in a row build equity to €506k.
2022
28-10
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2021
21-10
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2020
28-10
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
31-03
Financial
Weakest financial yearnet €51k ▼56.9%
Net result drops to €51k, the lowest in the series; recovery starts the following year.
2019
22-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
22-10
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2017
21-11
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 21 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, Leuze-en-Hainaut · 1 establishment unit since 2015
Ground area
3,790 m²
Building footprint
200 m²
Volume, LiDAR
1,436 m³
Parcel 57020B0983/00F000, Wallonia · tallest building 9.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Rue de Wattines(C.W.) 15, 7903 Leuze-en-Hainaut
since 20152.243.297.026
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 57020B0983/00F000 | Wallonia | 3,790 m² | 1 · 200 m² | 9.3 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.
Similar companies · same sector, comparable size
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CIC Management
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BEMABI
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GMP CARE CONSULT
BE 0887.443.793
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Of 82,562 companies in sector 70200 we hold annual accounts for 52,574. 32,069 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
Founded22-06-2015
Fiscal year end31-03
Activities, NACEBEL 2025
70200Business and other management consultancy
82990Other business support services
Sources
Crossroads Bank for EnterprisesNational Bank · 9 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.