MATHIMMO
ActiveSummary
MATHIMMO has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €22.1m and a net result of €420,868. Equity is growing by ~20.7% per year across the filed fiscal years. Its solvency ranks better than 31% of 933 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability13▼-6
Solvency49▼-1
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €65,000 at 30 days acceptable
Liquidity short (current ratio 0.69 against 0.65 in 2024; short-term debt: 71% and cash: 0.1% of total assets), and 76.2% of the assets are financed with debt.
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Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 82
Relative position
BE, all sectors
reference
Office administrative, office support and other business support activities (NACE 82)
about 37% 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
23.8%
Return on assets
0.5%
Age of the figures
9 mo
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 24-07-2026, 7 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
7 d early
2024
28 d early
2023
13 d late
2022
21 d late
2021
19 d late
2020
19 d late
2019
122 d late
← 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 after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 35% of the sector filed late.
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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
In the rankings
#1 company by total assets in Walloon Brabant, Office administrative support sector#1 company by equity in Waterloo, Administrative and support services sector#6 oldest company in Waterloo, Administrative and support services sector
Turnover
€684,453
EBIT margin
-103.9%
Net result
€420,868
2024 · -€155,704
Working capital
-€20.7m▼ 0.2%
2024 · -€20.6m
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€684,453
Operating result€430,771-€439,476-€1.0m▼ 139%-€1.2m▼ 15.5%-€711,312▲ 41.3%
Net result-€1.4m▼ 547%-€381,200▲ 73.5%-€390,080▼ 2.3%-€155,704▲ 60.1%€420,868
EBIT margin-103.9%
Equity€6.6m▲ 1.0%€22.3m▲ 239%€21.9m▼ 1.8%€21.7m▼ 0.7%€22.1m▲ 1.9%
Total assets€22.5m▲ 7.1%€38.5m▲ 70.8%€60.8m▲ 58.0%€86.5m▲ 42.3%€93.0m▲ 7.4%
Debt€15.2m▲ 9.6%€15.4m▲ 1.4%€38.2m▲ 148%€64.1m▲ 67.9%€70.1m▲ 9.4%
Working capital-€8.5m▼ 9.4%€2.0m-€10.8m-€20.6m▼ 91.0%-€20.7m▼ 0.2%
Staff (FTE)0.8▼ 60.0%1.6▲ 100%1.8▲ 12.5%1.8=2.2▲ 22.2%
Why a figure moved sharply
- 2024 Net result +60% on 2023. Cause not known from the registers.
- 2023 Total assets +58% on 2022. Cause not known from the registers.
- 2022 Net result +73%, Equity +239%, Total assets +71% on 2021. Cause not known from the registers.
- 2021 Net result -547% on 2020. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €711,312 in 2025 against €1.2m in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €93.0m
Fixed assets
€47.7m =
Current assets
€45.3m ▲ 16.5%
Equity and liabilities €93.0m
Equity
€22.1m ▲ 1.9%
Provisions
€708,133 ▼ 3.5%
Debt
€70.1m ▲ 9.4%
Debt's share of the balance-sheet total rises from 74.1% to 75.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
-€397,729▲
2024 · -€938,792
Cash flow
€734,451▲
2024 · €117,962
Current ratio
0.69▲
2024 · 0.65
Debt to equity
3.17▲
2024 · 2.95
ROE
1.9%▲
2024 · -0.7%
ROA
0.5%▲
2024 · -0.2%
Interest coverage
-2.34▲
2024 · -4.69
Debt ≤ 1 year
€66.0m▲
2024 · €59.5m
Debt > 1 year
€4.1m▼
2024 · €4.5m
Income taxes
€196▲
2024 · €188
Staff costs
€217,306▲
2024 · €174,534
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | - | €720,150 | - |
| Turnover70 | - | - | - | - | €684,453 | - |
| Other operating income74 | - | - | - | - | €35,697 | - |
| Operating charges60/66A | - | - | - | - | €1.4m | - |
| Services and other goods61 | - | - | - | - | €814,497 | - |
| Remuneration, social security and pensions62 | €70,090 | €97,581 | €168,495 | €174,534 | €217,306 | ▲ 24.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €128,309 | €116,520 | €192,459 | €273,665 | €313,583 | ▲ 14.6% |
| Other operating charges640/8 | €51,207 | €128,592 | €76,536 | €56,357 | €77,767 | ▲ 38.0% |
| Non-recurring operating charges66A | - | - | - | €233,788 | €8,308 | ▼ 96.4% |
| Gross operating margin9900 | €680,377 | -€96,783 | -€611,991 | -€474,114 | - | - |
| Operating profit (loss)9901 | €430,771 | -€439,476 | -€1.0m | -€1.2m | -€711,312 | ▲ 41.3% |
| Financial income75/76B | €1.3m | €149,008 | €656,773 | €1.2m | €1.3m | ▲ 3.7% |
| Recurring financial income75 | €125,735 | €149,008 | €656,773 | €1.2m | €1.3m | ▲ 3.7% |
| Income from current assets751 | - | - | - | - | €1.3m | - |
| Other financial income752/9 | - | - | - | - | €90 | - |
| Non-recurring financial income76B | €1.1m | - | - | - | - | - |
| Financial charges65/66B | €3.0m | €49,615 | €47,847 | €200,068 | €170,388 | ▼ 14.8% |
| Recurring financial charges65 | €65,576 | €49,615 | €47,847 | €200,068 | €170,388 | ▼ 14.8% |
| Debt charges650 | - | - | - | - | €169,764 | - |
| Other financial charges652/9 | - | - | - | - | €624 | - |
| Non-recurring financial charges66B | €2.9m | - | - | - | - | - |
| Profit (loss) for the period before taxes9903 | -€1.3m | -€340,083 | -€440,556 | -€180,915 | €395,665 | ▲ 319% |
| Transfer from deferred taxes780 | €135,691 | €25,641 | €52,188 | €25,399 | €25,399 | = |
| Transfer to deferred taxes680 | €239,792 | €66,703 | €1,516 | - | - | - |
| Income taxes67/77 | €26,494 | €55 | €196 | €188 | €196 | ▲ 4.2% |
| Taxes670/3 | - | - | - | - | €196 | - |
| Profit (loss) for the period9904 | -€1.4m | -€381,200 | -€390,080 | -€155,704 | €420,868 | ▲ 370% |
| Transfer from tax-exempt reserves789 | €407,073 | €76,922 | €156,563 | €76,197 | €76,197 | = |
| Transfer to tax-exempt reserves689 | €719,376 | €200,108 | €4,549 | - | - | - |
| Profit (loss) for the period to be appropriated9905 | -€1.8m | -€504,386 | -€238,067 | -€79,507 | €497,064 | ▲ 725% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €22.5m | €38.5m | €60.8m | €86.5m | €93.0m | ▲ 7.4% |
| Fixed assets21/28 | €18.2m | €23.4m | €35.6m | €47.7m | €47.7m | = |
| Tangible fixed assets22/27 | €3.7m | €3.3m | €6.6m | €8.3m | €8.2m | ▼ 0.6% |
| Land and buildings22 | €3.6m | €3.2m | €5.2m | €5.0m | €4.8m | ▼ 3.0% |
| Furniture and vehicles24 | €5,654 | €3,521 | €49,148 | €43,149 | €40,237 | ▼ 6.7% |
| Other tangible fixed assets26 | €133,575 | €116,998 | €1.3m | €3.2m | €3.3m | ▲ 3.1% |
| Financial fixed assets28 | €14.5m | €20.1m | €29.1m | €39.4m | €39.4m | ▲ 0.1% |
| Affiliated companies280/1 | - | - | - | - | €39.4m | - |
| Participating interests280 | - | - | - | - | €39.4m | - |
| Other financial fixed assets284/8 | - | - | - | - | €1,980 | - |
| Amounts receivable and cash guarantees285/8 | - | - | - | - | €1,980 | - |
| Current assets29/58 | €4.3m | €15.0m | €25.2m | €38.9m | €45.3m | ▲ 16.5% |
| Amounts receivable within one year40/41 | €3.8m | €12.1m | €25.0m | €35.5m | €45.1m | ▲ 27.0% |
| Trade receivables40 | €15,150 | €11,791 | €6,375 | €354,304 | €162,605 | ▼ 54.1% |
| Other amounts receivable41 | €3.7m | €12.1m | €25.0m | €35.2m | €44.9m | ▲ 27.8% |
| Cash at bank and in hand54/58 | €517,383 | €2.9m | €110,832 | €3.4m | €114,273 | ▼ 96.6% |
| Deferred charges and accrued income490/1 | €1,750 | €9,731 | €5,604 | €10,707 | €111,959 | ▲ 946% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €22.5m | €38.5m | €60.8m | €86.5m | €93.0m | ▲ 7.4% |
| Equity10/15 | €6.6m | €22.3m | €21.9m | €21.7m | €22.1m | ▲ 1.9% |
| Contributions10/11 | €4.1m | €20.2m | €20.2m | €20.2m | €20.2m | = |
| Capital10 | €4.1m | €20.2m | €20.2m | €20.2m | €20.2m | = |
| Issued capital100 | €4.1m | €20.2m | €20.2m | €20.2m | €20.2m | = |
| Outside capital11 | - | €2,759 | €2,759 | €2,759 | €2,759 | = |
| Share premium1100/10 | - | €2,759 | €2,759 | €2,759 | €2,759 | = |
| Reserves13 | €4.0m | €4.1m | €3.9m | €3.8m | €3.8m | ▼ 2.0% |
| Non-distributable reserves130/1 | €65,217 | €65,217 | €65,217 | €65,217 | €65,217 | = |
| Legal reserve130 | €65,217 | €65,217 | €65,217 | €65,217 | €65,217 | = |
| Tax-exempt reserves132 | €1.8m | €1.9m | €1.8m | €1.7m | €1.6m | ▼ 4.5% |
| Distributable reserves133 | €2.1m | €2.1m | €2.1m | €2.1m | €2.1m | = |
| Profit (loss) carried forward14 | -€1.5m | -€2.0m | -€2.3m | -€2.3m | -€1.8m | ▲ 21.2% |
| Provisions and deferred taxes16 | €768,540 | €809,602 | €758,931 | €733,532 | €708,133 | ▼ 3.5% |
| Deferred taxes168 | €768,540 | €809,602 | €758,931 | €733,532 | €708,133 | ▼ 3.5% |
| Amounts payable17/49 | €15.2m | €15.4m | €38.2m | €64.1m | €70.1m | ▲ 9.4% |
| Amounts payable after more than one year17 | €2.4m | €2.3m | €2.2m | €4.5m | €4.1m | ▼ 7.7% |
| Financial debts170/4 | €2.4m | €2.3m | €2.2m | €4.5m | €4.1m | ▼ 7.7% |
| Credit institutions173 | - | - | - | - | €4.1m | - |
| Amounts payable within one year42/48 | €12.7m | €13.1m | €36.0m | €59.5m | €66.0m | ▲ 10.9% |
| Current portion of amounts payable after more than one year42 | €113,325 | €115,232 | €117,171 | €334,664 | €346,119 | ▲ 3.4% |
| Trade debts44 | €20,170 | €91,057 | €116,609 | €176,879 | €145,044 | ▼ 18.0% |
| Suppliers440/4 | €20,170 | €91,057 | €116,609 | €176,879 | €145,044 | ▼ 18.0% |
| Taxes, remuneration and social security45 | €38,051 | €12,225 | €189,672 | €45,882 | €54,373 | ▲ 18.5% |
| Taxes450/3 | €26,494 | €55 | €165,870 | €25,934 | €29,247 | ▲ 12.8% |
| Remuneration and social security454/9 | €11,557 | €12,170 | €23,802 | €19,948 | €25,126 | ▲ 26.0% |
| Other amounts payable47/48 | €12.6m | €12.9m | €35.5m | €59.0m | €65.4m | ▲ 11.0% |
| Accrued charges and deferred income492/3 | €7,957 | - | - | €96,311 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€1.4m | -€381,200 | -€390,080 | -€155,704 | €420,868 | ▲ 370% |
| + Depreciation and write-downs630 | €128,309 | €116,520 | €192,459 | €273,665 | €313,583 | ▲ 14.6% |
| Operating cash flow (approximation) | -€1.3m | -€264,680 | -€197,621 | €117,962 | €734,451 | ▲ 523% |
| Investment in fixed assets (approximation) | - | -€5.3m | -€12.4m | -€12.3m | -€313,240 | ▲ 97.5% |
| Change in cash | - | €2.4m | -€2.8m | €3.3m | -€3.2m | ▼ 200% |
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
24-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Back to profitnet €420,868
Net result €420,868 after 5 loss-making years.
03-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
13-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 13 days late
30-04
State Gazette act
General meeting · Share concentration
Director reappointment · Permanent representative
2023
21-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 21 days late
2022
31-12
Financial
Liquidity triplescurrent ratio 1.15
Current ratio from 0.34 to 1.15.
31-12
Financial
Equity above €10mEq €22.3m ▲239%
Equity rises from €6.6m to €22.3m.
19-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 19 days late
2021
31-12
Financial
Weakest financial yearnet -€1.4m
Net result drops to -€1.4m, the lowest in the series; recovery starts the following year.
19-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 19 days late
06-07
State Gazette act
General meeting · Director resignation
Director appointment · Permanent representative
Show earlier events
2020
31-12
Financial
Equity above €5mEq €6.5m ▲40.6%
Equity rises from €4.6m to €6.5m.
30-11
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 122 days late
2019
31-12
Financial
Highest result since 2018net €604,318 ▲71.1%
Net result €604,318, the highest in the series.
12-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 12 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 31 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
14-04
State Gazette act
General meeting · Capital increase
Share issue · Statutes amendment
2016
27-06
State Gazette act
Incorporation · Founder
Corporate purpose · Founding capital
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 13 acts read
About the unread acts
We know of 13 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
13 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, Waterloo · 2 establishment units since 2000
Ground area
1.1 ha
Building footprint
1,427 m²
Volume, LiDAR
14,952 m³
2 parcels, Flanders, Wallonia · tallest building 17.1 m, ±4 floors. Linked by address, not a title deed.
54
companies at this address
See who is registered here
2 establishment units
Chaussée de Tervuren 389, 1410 Waterloo
since 20002.036.352.474
MATHIMMO
since 20242.363.174.772
2 parcels
Flanders
1
(50%)
Wallonia
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25763I0362/00B000 | Wallonia | 7,205 m² | 1 · 347 m² | 10.5 m · 2 fl. |
| 23033C0080/00H016 | Flanders | 3,343 m² | 1 · 1,079 m² | 17.1 m · 4 fl. |
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.
Structure & network
Owners and holdings
4 owners · 8 holdings · 33 subsidiaries in the treeOwners 4
-
33.33%
-
33.33%
-
33.33%
-
15.41%
Holdings 8
-
100%
-
100%
-
100%
-
92.7%
-
80%
-
50%
-
50%
-
49%
All subsidiaries, including indirect ones 33
Companies in which this company or one of its subsidiaries holds more than half, or which it consolidates according to the LEI register.
- Boucherie Magerotte 100%
Le Repos 100%2 subsidiaries
PORCELYNEGOED 100%1 subsidiary
- IMZ 100%
RLE INVEST 100%17 subsidiaries
- ARBEAL 100%
- FALS 100%
- KO KOTTAGE 100%
- KO LUXEMBOURGLU 100%
- KOLLINE 100%
- PEOPLE FIRST LUXEMBOURGLU 100%
PEOPLE FIRST MANAGEMENT 100%2 subsidiaries
- PEOPLE FIRST TRAVEL 100%
- SPORTERO 100%
- RECREATION & LEISURE 100%
- TERO BRUSSELS 100%
- Tero Catering 100%
- Tero House Herbeumont 100%
- Tero Leisure 100%
- KNOKKE OUT UNIVERSITY XL 85%
- Tero Padel 85%
- AtlasGO 51%
KO IMMO 92.7%9 subsidiaries
- KO INVEST 100%
- KO Retranchement ImmoNL 100%
- LE VIEUX LOGIS 100%
- Tero House Rochefort 100%
- Tero Immo Gerpinnes 100%
- Tero Immo Ster 100%
- THE KOTTAGE 100%
- Zakk Invest 100%
- Nouvel Espace Weyler 90%
- Tero Bakery 80%
According to the 2025 annual accounts of MATHIMMO 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
4 connected companiesThis company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, scroll to zoom.
Linked via shared directors
Fondation Saint - Luc
Shared director
→
GROTTES DE HAN
Shared director
→
LHOIST
Shared director
→
SPORTS VENTURES
Shared director
→
Ownership & control
1 board mandateBoard mandates of this companythis company sits on their board1
1 location
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Identification & contact
Identification
Legal formPublic limited company
Founded29-02-1988
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
82100Office administrative and support services
70100Activities of head offices
E-invoicing
Reachable via Peppol
Peppol ID
0208:0433608905
Also
9925:BE0433608905
Registered
05-12-2025
Register as of 26 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
General meetings
1 convocationExtraordinary general meeting
Agenda
Jaarverslag. Goedkeuring jaarrekening. Bestemming resultaat. Kwijting bestuurders. Divers. (AOPC1807446/24.06) (28306) ‘WEVIMMO’, naamloze vennootschap, 8560 Wevelgem, Constant Permekestraat 4 Ondernemingsnummer 0449.045.959 - RPR Kortrijk Gerechtelijk arrondissement Kortrijk De aandeelhouders worden verzocht de buitengewone algemene vergadering bij te wonen die zal plaatsvinden op maandag 14 juli 2008, om 14 uur op het kantoor van notaris Frederic Maelfait te 8530 Harel- beke, Stationsplein 2, met volgende agenda : 1) Naamwijziging. 2) Doel- wijziging. 3) Kapitaal in euro. 4) Wijziging aard aandelen. 5) Aannemen nieuwe statuten. 6) Ontslagneming en benoemingen. 7) Machtiging. (AXPC-1-8-0741 ...