Result
€245,635 €245,635
Back in profit in 2025, after a loss of €523,954 in 2024.
Entreprises MATHIEU
Lifetime
20 annual accounts with figures on one time axis, 36 filings since 1990peak €11.6m (2025)
€11.6m▲ 25.2%
lowest -€523,954 (2024)
€245,635▲ €769,589
peak €4.9m (2018)
€3.8m▲ 7.0%
€5.7m▲ 26.5%
peak 45.2 FTE (2006)
41.7 FTE▼ 6.5%
Board4 names since 2019
2 directorsMATHIEU HOLDING and 1 other
Owners
Documentsfilings and deeds
07-07-202624 days before the deadline
2025financial year
Turnover from €9.3m to €11.6mBack to profit: €245,635Reappointment: BDO Réviseurs d'Entreprises SRL (statutory aud… 24-01Debts from €4.5m to €5.7mCash from €7 to €14
Key points
from the 2025 annual accountsDebts
€5.7m ▲ 26.5%
Debts rose by €1.2m in 2025.
Staff
40 employees on 31-12-2025
In 2025, 18 people joined and 24 left. On top of that, 0.6 agency workers worked there on average.
Payment terms
54 days to suppliers
Entreprises MATHIEU pays its suppliers 10 days earlier than in 2024. Customers pay 18 days later.
Filings
36 annual accounts since 1990
Two of the last ten came late. The 2017 accounts came latest: 13 days after the end of the period.
At the same address
8 companies
Checked score
83
Excellent
Financially stronger than 44% of small companies in civil engineering (NACE 42)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.4% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 301 companies (NACE 42, small).
About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.6%
01-2025: 0.6%● unchanged vs 12-2024
02-2025: 0.5%▼ -0.1 percentage points vs 01-2025
03-2025: 0.6%▲ +0.1 percentage points vs 02-2025
04-2025: 0.6%● unchanged vs 03-2025
05-2025: 0.6%● unchanged vs 04-2025
06-2025: 0.6%● unchanged vs 05-2025
07-2025: 0.7%▲ +0.1 percentage points vs 06-2025highest value
08-2025: 0.6%▼ -0.1 percentage points vs 07-2025
09-2025: 0.6%● unchanged vs 08-2025
10-2025: 0.6%● unchanged vs 09-2025
11-2025: 0.6%● unchanged vs 10-2025
12-2025: 0.6%● unchanged vs 11-2025
01-2026: 0.6%● unchanged vs 12-2025
02-2026: 0.6%● unchanged vs 01-2026
03-2026: 0.6%● unchanged vs 02-2026
04-2026: 0.6%● unchanged vs 03-2026
05-2026: 0.6%● unchanged vs 04-2026
06-2026: 0.6%● unchanged vs 05-2026
07-2026: 0.6%● unchanged vs 06-2026
08-2026: 0.4%▼ -0.2 percentage points vs 07-2026lowest value
09-2026: 0.4%● unchanged vs 08-2026lowest value
10-2026: 0.4%● unchanged vs 09-2026lowest value
11-2026: 0.4%● unchanged vs 10-2026lowest value
Financial strengthAverage
Score breakdown
raises risk
Liquidity: current ratio 1.22, cash €14
Sector: Civil engineering (NACE 42)
Size: turnover €11.6m, 41.7 FTE, total assets €9.6m
lowers risk
Founded in 1990
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 42, small). It does better than 53% of them on solvency, 29% on liquidity, 30% on profitability and 66% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 14,766 companies had the same profile as Entreprises MATHIEU has now. Each dot stands for 37 companies, two years later.
96.2%
were still trading
3.5%
stopped another way
0.2%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Entreprises MATHIEU itself: 0.4% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 14,766 companies, not a prediction for Entreprises MATHIEU. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €310,000 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.22 (1.14 in 2024), below the usual 1.5. Short-term debt is 39.5% and cash 0% of total assets. 60.5% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
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 07-07-2026, 24 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
24 days early
2024
28 days early
2023
28 days early
2022
18 days early
2021
17 days early
2020
29 days early
2019
11 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 19 days before the deadline. In the sector (NACE 42), the median for financial year 2024 was 2 days before the deadline, and 41% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 7 July (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- MATHIEU HOLDING 99%equity €22.0m (2025) · 2025 annual accounts of MATHIEU HOLDING
Shares in 2 companies, Concassage, Forage, Criblage and TECHNIQUES SPECIALES DU BETON DE VOIRIE
Board & ownershipRecent changes
2 directors reappointed
MCA MANAGEMENT SRL (managing director) and MATHIEU HOLDING SA (managing director) · Permanent representatives: Caroline Mathieu and Frédéric Mathieu · General meeting of 30-06-2026 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0441481642
Reappointment: BDO Réviseurs d'Entreprises SRL (statutory auditor)
General meeting of 18-09-2024 · Gazette deed
Assemblee Generale
Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| Entreprises MATHIEU Bastogne | €11.6m | 2.4% | 39.5% | 41.7 |
| HEGROLA Westerlo | €12.0m | 3.1% | 53.4% | 38.5 |
| LIEMA Tienen | €12.2m | 1.4% | 24.7% | 38 |
| DEUMER SA Houffalize | €13.9m | 4.0% | 36.9% | 45.6 |
| DAMIEN & FILS Libramont-Chevigny | €11.5m | 7.7% | 22.3% | 44.9 |
| WASE WEGENBOUW Sint-Gillis-Waas | €10.8m | -5.5% | 14.0% | 47.5 |
| DE WITTE Maldegem | €13.8m | 1.1% | 24.5% | 31.3 |
Grey: the largest companies of the sector (civil engineering (NACE 42)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as Entreprises MATHIEU: construction of roads and motorways (NACE 42110). They are comparable in size and age: total assets between €7.8m and €13m, founded between 1979 and 1994.
Official details
Source: KBO- Status
- Active since 01-01-1990Normal situation
- Activity
- Construction of roads and motorwaysNACE 42110and 3 others
- Joint committees
- 124Construction
- 200Auxiliary committee for white-collar workers · annual accounts 2023
- Establishment unit
- 2.052.661.7386600 Bastogne, since 30-08-1991
- Financial year end
- 31 December
- Peppol
- Reachable since 29-09-2025
Annual accounts 2025
- €9.6m▲ 17.5%
- Employeeson 31-12-2025
- 40▼ 14.9%
- Filing
- Filed on 07-07-2026, 24 days before the end of the filing period
Insights on Entreprises MATHIEU
Entreprises MATHIEU has been active since 1990 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.8m and a net result of €245,635, of which €142,776 non-recurring income.
Equity shrank by about 3.7% per year on average since 2018. In 2025 it rose by 7%. Its solvency ranks better than 49% of 378 sector peers (NACE 42, financial year 2025).
The computed 12-month bankruptcy probability is 0.4% (very low).
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about Entreprises MATHIEU
- What is the company number of Entreprises MATHIEU?
- The company number of Entreprises MATHIEU is 0441.481.642. The VAT number is the same number with BE in front: BE 0441.481.642.
- Where is Entreprises MATHIEU based?
- The registered office is at Wicourt 2, 6600 Bastogne.Company details
- What does Entreprises MATHIEU do?
- According to the KBO register, the main activity is construction of roads and motorways (NACE 42110).
- What is the legal form of Entreprises MATHIEU?
- Entreprises MATHIEU is a public limited company (NV).
- When was Entreprises MATHIEU founded?
- Entreprises MATHIEU was founded on 01-01-1990.
- Is Entreprises MATHIEU still active?
- Yes, Entreprises MATHIEU is an active enterprise in the KBO register.
- How many employees does Entreprises MATHIEU have?
- Entreprises MATHIEU had an average of 41.7 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does Entreprises MATHIEU fall under?
- In its 2023 annual accounts, Entreprises MATHIEU states joint committees 124 (Construction) and 200 (Auxiliary committee for white-collar workers).
- What is the turnover of Entreprises MATHIEU?
- The turnover of Entreprises MATHIEU was €11.6m in financial year 2025, according to the filed annual accounts.
- Is Entreprises MATHIEU profitable?
- In financial year 2025, Entreprises MATHIEU made a profit of €245,635.
- Where can I find the annual accounts of Entreprises MATHIEU?
- Entreprises MATHIEU filed 36 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of Entreprises MATHIEU due?
- Entreprises MATHIEU must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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