MATHIM
ActiveSummary
MATHIM has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.13M and a net result of €495k. Equity is growing by ~42.2% per year across the filed fiscal years. Its solvency ranks better than 53% of 31791 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+18
Solvency84▲+21
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €100k at 30 days acceptable
Liquidity ample (current ratio 3.92 against 1.4 in 2024; short-term debt: 7.7% and cash: 27.2% of total assets), and 40.5% of the assets are financed with debt.
Credit check 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
Activities of head offices; management consultancy activities (NACE 70)
about 69% 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
59.5%
Return on assets
26.1%
Age of the figures
15 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 31-01-2026, 0 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
on the day
2024
18 d late
2023
12 d late
2022
37 d late
2020
39 d early
2019
24 d late
2018
26 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close25-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€495k▲ 151%
2024 · €197k
2018: €57klowest value
2019: €92k▲ +60.2% vs 2018
2020: €93k▲ +1.9% vs 2019
2022: €213k
2023: €280k▲ +31.3% vs 2022
2024: €197k▼ -29.8% vs 2023
2025: €495k▲ +151% vs 2024highest value
2018 → 2025
Working capital
€428k▲ 161%
2024 · €164k
2018: €62klowest value
2019: €144k▲ +131% vs 2018
2020: €193k▲ +33.5% vs 2019
2022: €101k
2023: €176k▲ +74.1% vs 2022
2024: €164k▼ -6.9% vs 2023
2025: €428k▲ +161% vs 2024highest value
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202022202320242025Trend
Equity€195k-€374k▲ 92.0%€594k▲ 59.0%€706k▲ 18.8%€1.13M▲ 59.5%
2020: €195klowest value
2022: €374k
2023: €594k▲ +59.0% vs 2022
2024: €706k▲ +18.8% vs 2023
2025: €1.13M▲ +59.5% vs 2024highest value
Operating result€121k-€290k▲ 140%€374k▲ 29.0%€286k▼ 23.7%€715k▲ 150%
2020: €121klowest value
2022: €290k
2023: €374k▲ +29.0% vs 2022
2024: €286k▼ -23.7% vs 2023
2025: €715k▲ +150% vs 2024highest value
Net result€93k-€213k▲ 129%€280k▲ 31.3%€197k▼ 29.8%€495k▲ 151%
2020: €93klowest value
2022: €213k
2023: €280k▲ +31.3% vs 2022
2024: €197k▼ -29.8% vs 2023
2025: €495k▲ +151% vs 2024highest value
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 150% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.89M
Fixed assets
€1.32M ▲ 4.7%
Current assets
€575k ▼ 0.8%
Equity and liabilities €1.89M
Equity
€1.13M ▲ 59.5%
Debt
€767k ▼ 32.2%
Debt's share of the balance-sheet total falls from 61.6% to 40.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€758k▲
2024 · €454k
Cash flow
€537k▲
2024 · €366k
Current ratio
3.92▲
2024 · 1.40
Debt to equity
0.68▼
2024 · 1.60
ROE
44.0%▲
2024 · 27.9%
ROA
26.1%▲
2024 · 10.7%
Interest coverage
30.97▲
2024 · 17.23
Debt ≤ 1 year
€146k▼
2024 · €415k
Debt > 1 year
€621k▼
2024 · €717k
Income taxes
€198k▲
2024 · €65k
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 · 46 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.84M€1.89M▲
Fixed assets21/28€1.26M€1.32M▲
Tangible fixed assets22/27€1.26M€1.32M▲
Land and buildings22€813k€794k▼
Plant, machinery and equipment23€409k€495k▲
Furniture and vehicles24€38k€30k▼
Current assets29/58€579k€575k▼
Amounts receivable within one year40/41€206k€59k▼
Trade receivables40€79k€58k▼
Other amounts receivable41€127k€2k▼
Cash at bank and in hand54/58€369k€516k▲
Deferred charges and accrued income490/1€4k€0▼
Equity and liabilities
Total equity and liabilities10/49€1.84M€1.89M▲
Equity10/15€706k€1.13M▲
Contributions10/11€19k€19k=
Reserves13€687k€1.11M▲
Distributable reserves133€687k€1.11M▲
Profit (loss) carried forward14€0€0=
Amounts payable17/49€1.13M€767k▼
Amounts payable after more than one year17€717k€621k▼
Financial debts170/4€717k€621k▼
Amounts payable within one year42/48€415k€146k▼
Current portion of amounts payable after more than one year42€105k€114k▲
Trade debts44€222k€20k▼
Suppliers440/4€222k€20k▼
Taxes, remuneration and social security45€15k€2k▼
Taxes450/3€15k€2k▼
Other amounts payable47/48€72k€11k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€169k€42k▼
Other operating charges640/8€2k€2k▲
Gross operating margin9900€456k€760k▲
Operating profit (loss)9901€286k€715k▲
Financial income75/76B€3k€2k▼
Recurring financial income75€3k€2k▼
Financial charges65/66B€26k€24k▼
Recurring financial charges65€26k€24k▼
Profit (loss) for the period before taxes9903€262k€692k▲
Income taxes67/77€65k€198k▲
Profit (loss) for the period9904€197k€495k▲
Profit (loss) for the period to be appropriated9905€197k€495k▲
Appropriation of the result
Profit (loss) to be appropriated9906€197k€495k▲
Transfer to equity691/2€112k€420k▲
To other reserves6921€112k€420k▲
Profit to be distributed694/7€85k€75k▼
Return on contributions (dividend)694€85k€75k▼
Social balance
Average headcount (FTE)90870.0-
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €546 | €2k | €30k | €169k | €42k | ▼ 74.9% |
| Other operating charges640/8 | - | €47k | €2k | €2k | €2k | ▲ 35.9% |
| Gross operating margin9900 | €122k | €339k | €407k | €456k | €760k | ▲ 66.6% |
| Operating profit (loss)9901 | €121k | €290k | €374k | €286k | €715k | ▲ 150% |
| Financial income75/76B | - | €35 | €0 | €3k | €2k | ▼ 37.4% |
| Recurring financial income75 | €0 | €35 | €0 | €3k | €2k | ▼ 37.4% |
| Financial charges65/66B | - | €2k | €3k | €26k | €24k | ▼ 7.2% |
| Recurring financial charges65 | €533 | €2k | €3k | €26k | €24k | ▼ 7.2% |
| Profit (loss) for the period before taxes9903 | €120k | €288k | €371k | €262k | €692k | ▲ 164% |
| Income taxes67/77 | €27k | €75k | €91k | €65k | €198k | ▲ 204% |
| Profit (loss) for the period9904 | €93k | €213k | €280k | €197k | €495k | ▲ 151% |
| Profit (loss) for the period to be appropriated9905 | €93k | €213k | €280k | €197k | €495k | ▲ 151% |
| Line | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €247k | €398k | €971k | €1.84M | €1.89M | ▲ 3.0% |
| Fixed assets21/28 | €2k | €272k | €425k | €1.26M | €1.32M | ▲ 4.7% |
| Tangible fixed assets22/27 | €2k | €272k | €425k | €1.26M | €1.32M | ▲ 4.7% |
| Land and buildings22 | - | €270k | €404k | €813k | €794k | ▼ 2.3% |
| Plant, machinery and equipment23 | - | - | - | €409k | €495k | ▲ 21.0% |
| Furniture and vehicles24 | - | €2k | €21k | €38k | €30k | ▼ 20.9% |
| Current assets29/58 | €246k | €126k | €545k | €579k | €575k | ▼ 0.8% |
| Amounts receivable within one year40/41 | €199k | €22k | €531k | €206k | €59k | ▼ 71.3% |
| Trade receivables40 | - | €12k | €511k | €79k | €58k | ▼ 27.1% |
| Other amounts receivable41 | - | €10k | €20k | €127k | €2k | ▼ 98.8% |
| Cash at bank and in hand54/58 | €47k | €101k | €12k | €369k | €516k | ▲ 39.8% |
| Deferred charges and accrued income490/1 | - | €2k | €3k | €4k | €0 | ▼ 100% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €247k | €398k | €971k | €1.84M | €1.89M | ▲ 3.0% |
| Equity10/15 | €195k | €374k | €594k | €706k | €1.13M | ▲ 59.5% |
| Contributions10/11 | - | €19k | €19k | €19k | €19k | = |
| Reserves13 | €2k | €355k | €575k | €687k | €1.11M | ▲ 61.1% |
| Non-distributable reserves130/1 | - | €0 | - | - | - | - |
| Reserves not available under the articles1311 | - | €0 | - | - | - | - |
| Distributable reserves133 | - | €355k | €575k | €687k | €1.11M | ▲ 61.1% |
| Profit (loss) carried forward14 | €174k | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €53k | €24k | €377k | €1.13M | €767k | ▼ 32.2% |
| Amounts payable after more than one year17 | - | - | €7k | €717k | €621k | ▼ 13.4% |
| Financial debts170/4 | - | - | €7k | €717k | €621k | ▼ 13.4% |
| Amounts payable within one year42/48 | €53k | €24k | €369k | €415k | €146k | ▼ 64.7% |
| Current portion of amounts payable after more than one year42 | - | €0 | €195k | €105k | €114k | ▲ 7.8% |
| Trade debts44 | €1k | €14k | €173k | €222k | €20k | ▼ 91.1% |
| Suppliers440/4 | - | €14k | €173k | €222k | €20k | ▼ 91.1% |
| Taxes, remuneration and social security45 | - | €50 | €64 | €15k | €2k | ▼ 88.7% |
| Taxes450/3 | - | €50 | €64 | €15k | €2k | ▼ 88.7% |
| Other amounts payable47/48 | - | €10k | €1k | €72k | €11k | ▼ 84.4% |
| Line | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €93k | €213k | €280k | €197k | €495k | ▲ 151% |
| + Depreciation and write-downs630 | €546 | €2k | €30k | €169k | €42k | ▼ 74.9% |
| Operating cash flow (approximation) | €94k | €215k | €310k | €366k | €537k | ▲ 46.9% |
| Investment in fixed assets (approximation) | - | - | €-183k | €-1.00M | €-102k | ▲ 89.9% |
| Change in cash | - | - | €-90k | €357k | €147k | ▼ 58.9% |
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
31-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-06
Financial
Highest result since 2018net €495k ▲151%
Operating result €715k, net result €495k, both a record.
30-06
Financial
Liquidity triplescurrent ratio 3.92
Current ratio from 1.40 to 3.92; short-term debt falls from €415k to €146k.
30-06
Financial
Equity above €1MEq €1.13M ▲59.5%
7 profitable years in a row build equity to €1.13M.
18-02
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 18 days late
2024
12-02
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 12 days late
2023
30-06
Financial
Equity above €500kEq €594k ▲59%
5 profitable years in a row build equity to €594k.
09-03
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 37 days late
2022
30-06
Financial
Equity above €200kEq €374k ▲92%
4 profitable years in a row build equity to €374k.
2021
22-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Equity above €150kEq €195k ▲33.9%
3 profitable years in a row build equity to €195k.
24-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 24 days late
2019
31-12
Financial
Equity above €100kEq €145k ▲129%
2 profitable years in a row build equity to €145k.
26-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 26 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
3 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, Mouscron · 1 establishment unit since 2017
Ground area
3,235 m²
Building footprint
674 m²
2 parcels, Wallonia. Linked by address, not a title deed.
1 establishment unit
Chaussée de Lille(TOU) 327/0, 7500 Tournai
since 20172.264.596.840
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 57463L0290/00F000 | Wallonia | 1,965 m² | 1 · 462 m² | - |
| 54436A0146/00P000 | Wallonia | 1,271 m² | 1 · 212 m² | - |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels 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
KPMG CENTRAL SERVICES
BE 0473.719.789
Zaventem · Eq €1,120,995
BDManagement
BE 0553.463.093
Sprimont · Eq €1,137,459
GROEP GIDTS
BE 0807.408.697
Hooglede · Eq €1,141,129
consulT2B
BE 0808.696.819
Elsene · Eq €1,141,231
JULOLITO
BE 0628.950.275
Mechelen · Eq €1,108,834
Of 5,699 companies in sector 70100 we hold annual accounts for 3,495. 1,864 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
Founded04-05-2017
Fiscal year end30-06
Activities, NACEBEL 2025
70100Activities of head offices
64210Activities of holding companies
70200Business and other management consultancy
73300Public relations and communication consultancy
Scores and ratios are computed by Checked and are not a credit decision.