MATHILO
ActiveSummary
MATHILO has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €488,067 and a net result of €262,776. Equity is growing by ~12.6% per year across the filed fiscal years. Its solvency ranks better than 67% of 14220 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+18
Solvency77▼-23
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €35,000 at 30 days acceptable
Liquidity ample (current ratio 2.14 against 8.05 in 2024; short-term debt: 37.4% and cash: 12.2% of total assets), and 47.9% of the assets are financed with debt.
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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 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← 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
52.1%
Return on assets
28%
Age of the figures
12 mo
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
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 13-01-2026, 107 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
107 d early
2024
10 d early
2023
3 d early
2022
16 d early
2021
8 d early
2020
10 d early
2019
8 d early
← 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 23 days before 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 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today30-09-2026 close30-04-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€488,067=
2024 · €488,067
Total assets
€937,219▲ 43.7%
2024 · €652,414
Net result
€262,776▲ 282%
2024 · €68,807
Working capital
€398,339▲ 2.6%
2024 · €388,115
Trend over the years
Click a name to add, emphasise or remove a line.Band: 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.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€255,247▼ 4.8%€163,695▼ 35.9%€207,571▲ 26.8%€86,584▼ 58.3%€340,144▲ 293%
Net result€192,293above the sector's middle half▲ 7.2%€122,123above the sector's middle half▼ 36.5%€158,904above the sector's middle half▲ 30.1%€68,807above the sector's middle half▼ 56.7%€262,776above the sector's middle half▲ 282%
Equity€452,649above the sector's middle half▲ 73.9%€574,772above the sector's middle half▲ 27.0%€419,260above the sector's middle half▼ 27.1%€488,067above the sector's middle half▲ 16.4%€488,067above the sector's middle half=
Total assets€689,250within the sector's middle half▲ 9.2%€771,638within the sector's middle half▲ 12.0%€581,722within the sector's middle half▼ 24.6%€652,414within the sector's middle half▲ 12.2%€937,219within the sector's middle half▲ 43.7%
Debt€236,602▼ 36.2%€196,866▼ 16.8%€162,462▼ 17.5%€164,347▲ 1.2%€449,152▲ 173%
Working capital€317,896▲ 40.7%€456,357▲ 43.6%€312,600▼ 31.5%€388,115▲ 24.2%€398,339▲ 2.6%
Solvency65.7%above the sector's middle half▲ 24.4pp74.5%above the sector's middle half▲ 8.8pp72.1%above the sector's middle half▼ 2.4pp74.8%above the sector's middle half▲ 2.7pp52.1%within the sector's middle half▼ 22.7pp
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 per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 293% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €937,219
Fixed assets
€188,211 ▼ 10.0%
Current assets
€749,008 ▲ 69.0%
Equity and liabilities €937,219
Equity
€488,067 =
Debt
€449,152 ▲ 173%
Debt's share of the balance-sheet total rises from 25.2% to 47.9%. Debt is higher.
Key figures and ratios
EBITDA
€363,196▲
2024 · €109,635
Cash flow
€285,828▲
2024 · €91,858
Current ratio
2.14▼
2024 · 8.05
Debt to equity
0.92▲
2024 · 0.34
ROE
53.8%▲
2024 · 14.1%
ROA
28.0%▲
2024 · 10.5%
Interest coverage
132.40▲
2024 · 35.07
Debt ≤ 1 year
€350,669▲
2024 · €55,080
Debt > 1 year
€97,043▼
2024 · €108,882
Income taxes
€83,124▲
2024 · €19,400
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,776 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 97% are still going.
- Small
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.5%
went bankrupt
2.6%
stopped otherwise
97%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.3% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 6,776 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.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €15,744 | €23,249 | €23,134 | €23,051 | €23,052 | = |
| Other operating charges640/8 | €2,882 | €1,522 | €1,573 | €2,085 | €1,466 | ▼ 29.7% |
| Gross operating margin9900 | €273,873 | €188,466 | €232,278 | €111,720 | €364,662 | ▲ 226% |
| Operating profit (loss)9901 | €255,247 | €163,695 | €207,571 | €86,584 | €340,144 | ▲ 293% |
| Financial income75/76B | - | - | - | €4,750 | €8,499 | ▲ 78.9% |
| Recurring financial income75 | - | - | - | €4,750 | €8,499 | ▲ 78.9% |
| Financial charges65/66B | €3,975 | €2,975 | €3,403 | €3,126 | €2,743 | ▼ 12.2% |
| Recurring financial charges65 | €3,975 | €2,975 | €3,403 | €3,126 | €2,743 | ▼ 12.2% |
| Profit (loss) for the period before taxes9903 | €251,273 | €160,720 | €204,167 | €88,207 | €345,900 | ▲ 292% |
| Income taxes67/77 | €58,980 | €38,597 | €45,263 | €19,400 | €83,124 | ▲ 328% |
| Profit (loss) for the period9904 | €192,293 | €122,123 | €158,904 | €68,807 | €262,776 | ▲ 282% |
| Profit (loss) for the period to be appropriated9905 | €192,293 | €122,123 | €158,904 | €68,807 | €262,776 | ▲ 282% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €689,250 | €771,638 | €581,722 | €652,414 | €937,219 | ▲ 43.7% |
| Fixed assets21/28 | €278,653 | €255,404 | €232,270 | €209,219 | €188,211 | ▼ 10.0% |
| Tangible fixed assets22/27 | €278,653 | €255,404 | €232,270 | €209,219 | €187,210 | ▼ 10.5% |
| Land and buildings22 | €211,218 | €203,106 | €194,994 | €186,882 | €178,770 | ▼ 4.3% |
| Plant, machinery and equipment23 | €2,282 | €1,825 | €1,369 | €912 | €455 | ▼ 50.1% |
| Furniture and vehicles24 | €65,153 | €50,473 | €35,908 | €21,425 | €7,984 | ▼ 62.7% |
| Financial fixed assets28 | - | - | - | - | €1,001 | - |
| Current assets29/58 | €410,597 | €516,234 | €349,452 | €443,195 | €749,008 | ▲ 69.0% |
| Amounts receivable within one year40/41 | €18,267 | €50,054 | €25,617 | €21,283 | €28,605 | ▲ 34.4% |
| Trade receivables40 | €18,150 | €38,488 | €18,150 | €21,175 | €21,175 | = |
| Other amounts receivable41 | €117 | €11,567 | €7,467 | €108 | €7,430 | ▲ 6,805% |
| Current investments50/53 | - | - | €150,000 | €200,000 | €601,375 | ▲ 201% |
| Cash at bank and in hand54/58 | €390,091 | €461,103 | €168,690 | €217,312 | €114,133 | ▼ 47.5% |
| Deferred charges and accrued income490/1 | €2,239 | €5,076 | €5,145 | €4,600 | €4,895 | ▲ 6.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €689,250 | €771,638 | €581,722 | €652,414 | €937,219 | ▲ 43.7% |
| Equity10/15 | €452,649 | €574,772 | €419,260 | €488,067 | €488,067 | = |
| Contributions10/11 | €30,000 | €30,000 | €30,000 | €30,000 | €30,000 | = |
| Reserves13 | €230,356 | €230,356 | €230,356 | €230,356 | €230,356 | = |
| Non-distributable reserves130/1 | €3,000 | - | - | - | - | - |
| Reserves not available under the articles1311 | €3,000 | - | - | - | - | - |
| Distributable reserves133 | €227,356 | €230,356 | €230,356 | €230,356 | €230,356 | = |
| Profit (loss) carried forward14 | €192,293 | €314,416 | €158,904 | €227,712 | €227,712 | = |
| Amounts payable17/49 | €236,602 | €196,866 | €162,462 | €164,347 | €449,152 | ▲ 173% |
| Amounts payable after more than one year17 | €143,152 | €131,933 | €120,511 | €108,882 | €97,043 | ▼ 10.9% |
| Financial debts170/4 | €143,152 | €131,933 | €120,511 | €108,882 | €97,043 | ▼ 10.9% |
| Amounts payable within one year42/48 | €92,701 | €59,877 | €36,852 | €55,080 | €350,669 | ▲ 537% |
| Current portion of amounts payable after more than one year42 | €11,020 | €11,219 | €11,422 | €11,629 | €11,839 | ▲ 1.8% |
| Trade debts44 | €5,039 | €4,729 | €895 | €3,151 | €4,980 | ▲ 58.0% |
| Suppliers440/4 | €5,039 | €4,729 | €895 | €3,151 | €4,980 | ▲ 58.0% |
| Taxes, remuneration and social security45 | €72,408 | €43,854 | €20,988 | €33,472 | €62,470 | ▲ 86.6% |
| Taxes450/3 | €72,408 | €43,854 | €20,988 | €33,472 | €62,470 | ▲ 86.6% |
| Other amounts payable47/48 | €4,235 | €75 | €3,547 | €6,828 | €271,380 | ▲ 3,874% |
| Accrued charges and deferred income492/3 | €748 | €5,056 | €5,099 | €384 | €1,440 | ▲ 275% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €192,293 | €122,123 | €158,904 | €68,807 | €262,776 | ▲ 282% |
| + Depreciation and write-downs630 | €15,744 | €23,249 | €23,134 | €23,051 | €23,052 | = |
| Operating cash flow (approximation) | €208,037 | €145,372 | €182,038 | €91,858 | €285,828 | ▲ 211% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | -€2,044 | - |
| Change in cash | - | €71,013 | -€292,414 | €48,623 | -€103,179 | ▼ 312% |
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
13-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Highest result since 2019net €262,776 ▲282%
Operating result €340,144, net result €262,776, both a record.
20-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
27-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
14-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-09
Financial
Equity above €500,000Eq €574,772 ▲27%
4 profitable years in a row build equity to €574,772.
22-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
20-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-09
Financial
Equity above €200,000Eq €260,356 ▲186%
2 profitable years in a row build equity to €260,356.
22-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Merelbeke-Melle · 1 establishment unit since 2018
Ground area
836 m²
Building footprint
172 m²
Volume, LiDAR
905 m³
Parcel 44043A0091/00G009, Flanders · tallest building 8.5 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MATHILO
since 20182.273.661.390
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44043A0091/00G009 | Flanders | 835 m² | 1 · 172 m² | 8.5 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.
Structure & network
Owners and holdings
2 holdingsOwners 0
The accounts to 30-09-2025 list no shareholders, and no other source names one.
Holdings 2
-
8.33%
-
8.33%
According to the annual accounts to 30-09-2025 of MATHILO and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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BEWO-PROJECTS
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Aalter · Eq €488,218
MAGRITTE IMMO
BE 1002.173.712
Ans · Eq €488,523
Isala Living
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Of 9,699 companies in sector 68121 we hold annual accounts for 7,385. 4,723 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
Founded05-03-2018
Fiscal year end30-09
Activities, NACEBEL 2025
68121Development of residential building projects
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0691726301
Also
9925:BE0691726301
Registered
13-06-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.