Mathieu Baert
ActiveSummary
Mathieu Baert has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €56k and a net result of €318k. Equity is growing by ~46.9% per year across the filed fiscal years. Its solvency ranks better than 13% of 12738 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency35▼-44
Growth58▼-20
Track record94
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3k at 30 days acceptable
Liquidity tight (current ratio 1.0 against 1.92 in 2024; short-term debt: 90% and cash: 9% of total assets), and 90% of the assets are financed with debt.
Credit check for your own amount and term
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 69
Relative position
BE, all sectors
reference
Legal and accounting activities (NACE 69)
about 77% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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
10%
Return on assets
57%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 13% of 12738 sector peers (2025).
NBB · sector comparisonPosition among 12738 sector peers
Solvency
better than 13%
← weakest
strongest →
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 30-03-2026, 123 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
123 d early
2024
45 d early
2023
47 d early
2022
43 d early
2021
38 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 31-12-2026 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
Equity
€56k▼ 75.0%
2024 · €223k
2021: €59k
2022: €89k▲ +50.8% vs 2021
2023: €166k▲ +86.7% vs 2022
2024: €223k▲ +34.2% vs 2023highest in 5 years
2025: €56k▼ -75.0% vs 2024lowest in 5 years
2021 → 2025
Total assets
€558k▲ 36.2%
2024 · €410k
2021: €82klowest in 5 years
2022: €112k▲ +36.7% vs 2021
2023: €191k▲ +70.9% vs 2022
2024: €410k▲ +115% vs 2023
2025: €558k▲ +36.2% vs 2024highest in 5 years
2021 → 2025
Net result
€318k▲ 44.1%
2024 · €221k
2021: €58k
2022: €31k▼ -46.8% vs 2021lowest in 5 years
2023: €79k▲ +156% vs 2022
2024: €221k▲ +181% vs 2023
2025: €318k▲ +44.1% vs 2024highest in 5 years
2021 → 2025
Working capital
€241▼ 99.9%
2024 · €171k
2021: €51k
2022: €79k▲ +54.7% vs 2021
2023: €112k▲ +42.2% vs 2022
2024: €171k▲ +52.7% vs 2023highest in 5 years
2025: €241▼ -99.9% vs 2024lowest in 5 years
2021 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€59k-€89k▲ 50.8%€166k▲ 86.7%€223k▲ 34.2%€56k▼ 75.0%
2021: €59k
2022: €89k▲ +50.8% vs 2021
2023: €166k▲ +86.7% vs 2022
2024: €223k▲ +34.2% vs 2023highest in 5 years
2025: €56k▼ -75.0% vs 2024lowest in 5 years
Operating result€74k-€38k▼ 48.3%€98k▲ 159%€289k▲ 194%€413k▲ 42.8%
2021: €74k
2022: €38k▼ -48.3% vs 2021lowest in 5 years
2023: €98k▲ +159% vs 2022
2024: €289k▲ +194% vs 2023
2025: €413k▲ +42.8% vs 2024highest in 5 years
Net result€58k-€31k▼ 46.8%€79k▲ 156%€221k▲ 181%€318k▲ 44.1%
2021: €58k
2022: €31k▼ -46.8% vs 2021lowest in 5 years
2023: €79k▲ +156% vs 2022
2024: €221k▲ +181% vs 2023
2025: €318k▲ +44.1% vs 2024highest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 43% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €558k
Fixed assets
€56k ▲ 8.3%
Current assets
€502k ▲ 40.2%
Equity and liabilities €558k
Equity
€56k ▼ 75.0%
Debt
€502k ▲ 169%
Debt's share of the balance-sheet total rises from 45.6% to 90.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€419k▲
2024 · €294k
Cash flow
€323k▲
2024 · €225k
Current ratio
1.00▼
2024 · 1.92
Debt to equity
9.00▲
2024 · 0.84
ROE
570.4%▲
2024 · 99.1%
ROA
57.0%▲
2024 · 53.9%
Interest coverage
255.48▲
2024 · 192.41
Debt ≤ 1 year
€502k▲
2024 · €187k
Income taxes
€101k▲
2024 · €71k
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 · 47 lines
Balance sheet
Code20242025
Assets
Total assets20/58€410k€558k▲
Fixed assets21/28€51k€56k▲
Tangible fixed assets22/27€45k€49k▲
Land and buildings22€40k€38k▼
Plant, machinery and equipment23€2k€9k▲
Furniture and vehicles24€3k€2k▼
Financial fixed assets28€6k€6k=
Current assets29/58€358k€502k▲
Amounts receivable after more than one year29€60k-
Other amounts receivable291€60k-
Amounts receivable within one year40/41€63k€200k▲
Trade receivables40€8k€139k▲
Other amounts receivable41€55k€61k▲
Current investments50/53€165k€250k▲
Cash at bank and in hand54/58€67k€50k▼
Deferred charges and accrued income490/1€3k€2k▼
Equity and liabilities
Total equity and liabilities10/49€410k€558k▲
Equity10/15€223k€56k▼
Contributions10/11€2k€2k=
Reserves13€221k€54k▼
Distributable reserves133€221k€54k▼
Amounts payable17/49€187k€502k▲
Amounts payable within one year42/48€187k€502k▲
Current portion of amounts payable after more than one year42€1k-
Trade debts44€172€98▼
Suppliers440/4€172€98▼
Taxes, remuneration and social security45€22k€17k▼
Taxes450/3€22k€17k▼
Other amounts payable47/48€164k€485k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€4k€5k▲
Other operating charges640/8€592€673▲
Gross operating margin9900€294k€419k▲
Operating profit (loss)9901€289k€413k▲
Financial income75/76B€4k€7k▲
Recurring financial income75€4k€7k▲
Financial charges65/66B€2k€2k▲
Recurring financial charges65€2k€2k▲
Profit (loss) for the period before taxes9903€292k€419k▲
Income taxes67/77€71k€101k▲
Profit (loss) for the period9904€221k€318k▲
Profit (loss) for the period to be appropriated9905€221k€318k▲
Appropriation of the result
Profit (loss) to be appropriated9906€221k€318k▲
Transfer from equity791/2€164k€167k▲
Transfer to equity691/2€221k-
To other reserves6921€221k-
Profit to be distributed694/7€164k€485k▲
Return on contributions (dividend)694€164k€485k▲
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4k | €5k | €12k | €4k | €5k | ▲ 30.4% |
| Other operating charges640/8 | €2k | €1k | €1k | €592 | €673 | ▲ 13.7% |
| Gross operating margin9900 | €79k | €44k | €112k | €294k | €419k | ▲ 42.5% |
| Operating profit (loss)9901 | €74k | €38k | €98k | €289k | €413k | ▲ 42.8% |
| Financial income75/76B | €0 | €856 | €2k | €4k | €7k | ▲ 79.5% |
| Recurring financial income75 | €0 | €856 | €2k | €4k | €7k | ▲ 79.5% |
| Financial charges65/66B | €13 | €117 | €199 | €2k | €2k | ▲ 7.4% |
| Recurring financial charges65 | €13 | €117 | €199 | €2k | €2k | ▲ 7.4% |
| Profit (loss) for the period before taxes9903 | €74k | €39k | €100k | €292k | €419k | ▲ 43.4% |
| Income taxes67/77 | €16k | €8k | €21k | €71k | €101k | ▲ 41.5% |
| Profit (loss) for the period9904 | €58k | €31k | €79k | €221k | €318k | ▲ 44.1% |
| Profit (loss) for the period to be appropriated9905 | €58k | €31k | €79k | €221k | €318k | ▲ 44.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €82k | €112k | €191k | €410k | €558k | ▲ 36.2% |
| Fixed assets21/28 | €9k | €13k | €55k | €51k | €56k | ▲ 8.3% |
| Tangible fixed assets22/27 | €9k | €13k | €49k | €45k | €49k | ▲ 9.4% |
| Land and buildings22 | - | - | €41k | €40k | €38k | ▼ 4.3% |
| Plant, machinery and equipment23 | - | €2k | €2k | €2k | €9k | ▲ 379% |
| Furniture and vehicles24 | €9k | €10k | €5k | €3k | €2k | ▼ 36.8% |
| Financial fixed assets28 | - | €90 | €6k | €6k | €6k | = |
| Current assets29/58 | €73k | €99k | €136k | €358k | €502k | ▲ 40.2% |
| Amounts receivable after more than one year29 | - | €60k | €60k | €60k | - | - |
| Other amounts receivable291 | - | €60k | €60k | €60k | - | - |
| Amounts receivable within one year40/41 | €151 | €206 | €0 | €63k | €200k | ▲ 218% |
| Trade receivables40 | €151 | €206 | - | €8k | €139k | ▲ 1,651% |
| Other amounts receivable41 | €0 | €0 | €0 | €55k | €61k | ▲ 11.4% |
| Current investments50/53 | - | - | €50k | €165k | €250k | ▲ 51.5% |
| Cash at bank and in hand54/58 | €72k | €37k | €23k | €67k | €50k | ▼ 25.3% |
| Deferred charges and accrued income490/1 | €510 | €1k | €3k | €3k | €2k | ▼ 48.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €82k | €112k | €191k | €410k | €558k | ▲ 36.2% |
| Equity10/15 | €59k | €89k | €166k | €223k | €56k | ▼ 75.0% |
| Contributions10/11 | €2k | €2k | €2k | €2k | €2k | = |
| Reserves13 | €57k | €87k | €164k | €221k | €54k | ▼ 75.6% |
| Distributable reserves133 | €57k | €87k | €164k | €221k | €54k | ▼ 75.6% |
| Amounts payable17/49 | €23k | €23k | €25k | €187k | €502k | ▲ 169% |
| Amounts payable after more than one year17 | - | €2k | €1k | - | - | - |
| Financial debts170/4 | - | €2k | €1k | - | - | - |
| Amounts payable within one year42/48 | €22k | €20k | €24k | €187k | €502k | ▲ 169% |
| Current portion of amounts payable after more than one year42 | - | €1k | €1k | €1k | - | - |
| Trade debts44 | €1k | €321 | €3k | €172 | €98 | ▼ 42.9% |
| Suppliers440/4 | €1k | €321 | €3k | €172 | €98 | ▼ 42.9% |
| Taxes, remuneration and social security45 | €17k | €11k | €17k | €22k | €17k | ▼ 22.1% |
| Taxes450/3 | €15k | €9k | €17k | €22k | €17k | ▼ 22.1% |
| Remuneration and social security454/9 | €2k | €2k | - | - | - | - |
| Other amounts payable47/48 | €3k | €7k | €2k | €164k | €485k | ▲ 196% |
| Accrued charges and deferred income492/3 | €840 | €580 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €58k | €31k | €79k | €221k | €318k | ▲ 44.1% |
| + Depreciation and write-downs630 | €4k | €5k | €12k | €4k | €5k | ▲ 30.4% |
| Operating cash flow (approximation) | €61k | €36k | €91k | €225k | €323k | ▲ 43.8% |
| Investment in fixed assets (approximation) | - | €-9k | €-55k | €-538 | €-10k | ▼ 1,668% |
| Change in cash | - | €-35k | €-15k | €45k | €-17k | ▼ 138% |
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
30-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2021net €318k ▲44.1%
Operating result €413k, net result €318k, both a record.
16-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Equity above €200kEq €223k ▲34.2%
4 profitable years in a row build equity to €223k.
14-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Equity above €150kEq €166k ▲86.7%
3 profitable years in a row build equity to €166k.
18-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet €31k ▼46.8%
Net result drops to €31k, the lowest in the series; recovery starts the following year.
23-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
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, Gent · 1 establishment unit since 2020
Ground area
318 m²
Building footprint
146 m²
Volume, LiDAR
752 m³
Parcel 44809I0592/00V005, Flanders · tallest building 11.2 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Ijzertijdhof 911, 9000 Gent
since 20202.308.190.422
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44809I0592/00V005 | Flanders | 318 m² | 1 · 146 m² | 11.2 m · 1 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 22,056 companies in sector 69101 we hold annual accounts for 9,055. 7,296 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
Founded08-10-2020
Fiscal year end31-12
Activities, NACEBEL 2025
69101Activities of lawyers
Scores and ratios are computed by Checked and are not a credit decision.