Matisse Belgique
ActiveMatisse Belgique has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.50M and a net result of €-283k. Equity is growing by ~18.1% per year across the filed fiscal years. Its solvency ranks better than 33% of 268 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability33=
Solvency36▲+26
Growth68▼-17
Stability100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €100k at 30 days only on tighter terms
Liquidity ample (current ratio 1.63 against 0.15 in 2024), but 83.5% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Nine 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 35
Relative position
BE, all sectors
reference
Sector 35
lower
← fewer bankruptcies
more bankruptcies →
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 · 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
16.5%
Return on assets
-1.9%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity fell accordingly. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€283k
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 09-07-2026, 22 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
22 d early
2024
27 d early
2023
15 d early
2022
25 d early
2021
102 d late
2020
23 d late
2019
14 d late
← before the deadline
after the deadline →
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
16-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€2.11M▲ 8.2%
2024 · €1.95M
2020: €251k
2021: €2.18M
2022: €2.40M
2023: €2.58M
2024: €1.95M
2020 → 2025
EBIT margin
17.5%▼ 5.8pp
2024 · 23.3%
2020: -19.9%
2021: 36.0%
2022: 51.3%
2023: 48.2%
2024: 23.3%
2020 → 2025
Net result
€-283k▼ 98.7%
2024 · €-143k
2018: €-171k
2019: €-297k
2020: €-95k
2021: €650k
2022: €1.06M
2023: €617k
2024: €-143k
2018 → 2025
Working capital
€635k
2024 · €-3.00M
2018: €-4.44M
2019: €-5.65M
2020: €-16.14M
2021: €-15.15M
2022: €-469k
2023: €-999k
2024: €-3.00M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€2.18M-€2.40M▲ 10.3%€2.58M▲ 7.4%€1.95M▼ 24.4%€2.11M▲ 8.2%
Equity€1.24M-€2.31M▲ 85.3%€2.92M▲ 26.8%€2.78M▼ 4.9%€2.50M▼ 10.2%
Operating result€783k-€1.23M▲ 57.4%€1.24M▲ 0.9%€455k▼ 63.4%€370k▼ 18.8%
Net result€650k-€1.06M▲ 63.3%€617k▼ 41.8%€-143k€-283k▼ 98.7%
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 19% below 2024 and is the lowest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €15.10M
Fixed assets
€13.45M▼ 24.1%
Current assets
€1.65M▲ 205%
Equity and liabilities €15.10M
Equity
€2.50M▼ 10.2%
Provisions
€77k▲ 68.4%
Debt
€12.52M▼ 18.9%
The debt ratio falls from 84.5% to 83.0%: debt falls faster than equity shrinks.
Key figures and ratios
EBITDA
€910k▼
2024 · €995k
Cash flow
€256k▼
2024 · €397k
Solvency
16.5%▲
2024 · 15.2%
Current ratio
1.63▲
2024 · 0.15
Quick ratio
1.63▲
2024 · 0.15
Debt / equity
5.02▼
2024 · 5.55
ROE
-11.4%▼
2024 · -5.1%
ROA
-1.9%▼
2024 · -0.8%
Interest coverage
1.40▼
2024 · 1.67
Debt
€12.52M▼
2024 · €15.43M
Debt ≤ 1 year
€1.01M▼
2024 · €3.55M
Debt > 1 year
€11.51M▼
2024 · €11.89M
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€18.26M€15.10M▼
Fixed assets21/28€17.72M€13.45M▼
Tangible fixed assets22/27€17.72M€13.45M▼
Land and buildings22€13.99M€13.45M▼
Assets under construction and advance payments27€3.73M€0▼
Financial fixed assets28€300€300=
Other financial fixed assets284/8€300€300=
Amounts receivable and cash guarantees285/8€300€300=
Current assets29/58€540k€1.65M▲
Stocks and contracts in progress3€0€0=
Amounts receivable within one year40/41€310k€504k▲
Trade receivables40€310k€504k▲
Other amounts receivable41€0-
Cash at bank and in hand54/58€184k€1.14M▲
Deferred charges and accrued income490/1€46k€265▼
Equity and liabilities
Total equity and liabilities10/49€18.26M€15.10M▼
Equity10/15€2.78M€2.50M▼
Contributions10/11€2.31M€2.31M=
Capital10€287k€287k=
Issued capital100€287k€287k=
Outside capital11€2.03M€2.03M=
Share premium1100/10€2.03M€2.03M=
Reserves13€29k€29k=
Non-distributable reserves130/1€29k€29k=
Legal reserve130€29k€29k=
Profit (loss) carried forward14€440k€156k▼
Provisions and deferred taxes16€46k€77k▲
Provisions for liabilities and charges160/5€46k€77k▲
Other liabilities and charges164/5€46k€77k▲
Amounts payable17/49€15.43M€12.52M▼
Amounts payable after more than one year17€11.89M€11.51M▼
Financial debts170/4€11.89M€11.51M▼
Other loans174€11.89M€11.51M▼
Amounts payable within one year42/48€3.55M€1.01M▼
Current portion of amounts payable after more than one year42€1.27M€645k▼
Trade debts44€262k€365k▲
Suppliers440/4€262k€365k▲
Taxes, remuneration and social security45€44k€1k▼
Taxes450/3€44k€1k▼
Other amounts payable47/48€1.97M€0▼
Income statement
Code20242025
Operating income70/76A€2.04M€3.57M▲
Turnover70€1.95M€2.11M▲
Own construction capitalised72€78k€0▼
Other operating income74€6k€9k▲
Non-recurring operating income76A€3k€1.45M▲
Operating charges60/66A€1.58M€3.20M▲
Services and other goods61€953k€767k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€540k€540k=
Provisions for liabilities and charges: additions (uses and reversals)635/8€11k€31k▲
Other operating charges640/8€78k€2k▼
Non-recurring operating charges66A-€1.86M
Operating profit (loss)9901€455k€370k▼
Financial income75/76B€4k€0▼
Recurring financial income75€4k€0▼
Income from current assets751€4k€0▼
Other financial income752/9€0-
Financial charges65/66B€602k€653k▲
Recurring financial charges65€602k€653k▲
Debt charges650€598k€650k▲
Other financial charges652/9€4k€4k▼
Profit (loss) for the period before taxes9903€-143k€-283k▼
Profit (loss) for the period9904€-143k€-283k▼
Profit (loss) for the period to be appropriated9905€-143k€-283k▼
Appropriation of the result
Profit (loss) to be appropriated9906€440k€156k▼
Profit (loss) brought forward from the previous period14P€582k€440k▼
Transfer to equity691/2€0-
To the legal reserve6920€0-
The notes to these accounts (39 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
09-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Liquidity times 11current ratio 1.63
Current ratio from 0.15 to 1.63; short-term debt falls from €3.55M to €1.01M.
04-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
16-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
06-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Highest result since 2018net €1.06M ▲63.3%
Net result €1.06M, the highest in the series.
31-12
Financial
Equity above €2MEq €2.31M ▲85.3%
2 profitable years in a row build equity to €2.31M.
10-11
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 102 days late
2021
31-12
Financial
Back to profitnet €650k
Net result €650k after 3 loss-making years.
31-12
Financial
Equity above €1MEq €1.24M ▲109%
Equity rises from €594k to €1.24M.
23-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 23 days late
2020
14-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 14 days late
2019
31-12
Financial
Weakest financial yearnet €-297k
Net result drops to €-297k, the lowest in the series; recovery starts the following year.
08-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
27-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 27 days late
2017
14-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
no sitting director, no change since 2023
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
29-03-2023
Daniel Garcia: Resigned as Director
29-03-2023
Daniel Garcia: Resigned as Managing director
29-03-2023
Duarte Melo de Castro Belo: Resigned as Director
29-03-2023
Marta Mendez-Villaamil Menendez: Resigned as Director
23-09-2022
Patrick Simon: Resigned as Director
01-05-2019
Gabriel Nebreda Molinera: Resigned as Director
23-10-2017
Spyridon Martinis: Resigned as Director
Location & real-estate footprint
Registered office, Oudergem · 1 establishment unit since 2012
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Herrmann-Debrouxlaan 40-421160 OudergemGround area
5,972 m²
Building footprint
3,055 m²
Volume, LiDAR
58,939 m³
2 parcels, Brussels · tallest building 31.3 m, ±9 floors. Linked by address, not a title deed.
1 establishment unit
de Meeûssquare 1, 1000 Brussel
since 20122.219.738.496
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21332B0424/00D008 | Brussels | 5,192 m² | 1 · 2,419 m² | 27.6 m · 7 fl. |
| 21805E0486/00A003 | Brussels | 780 m² | 1 · 637 m² | 31.3 m · 9 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
2 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).
Structure & network
Connections & network
32 connected companiesNetwork connections
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Of 816 companies in sector 35110 we hold annual accounts for 632. 390 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded04-10-2012
Fiscal year end31-12
Activities, NACEBEL
35110Production of electricity from non-renewable sources
35150Electricity, gas, steam and air conditioning supply
Sources
Crossroads Bank for EnterprisesNational Bank · 14 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.