MATOCO
ActiveSummary
MATOCO has been active since 2011 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €875,702 and a net result of €181,486. Equity has been growing by about 17% per year since 2019. Its solvency ranks better than 82% of 12,781 sector peers (NACE 47, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 10-01-2011 Normal situation
- Activity
- Non-specialised retail sale with food, beverages or tobacco predominating NACE 47110
- Joint committee
- 201 Paritair Comité voor de zelfstandige kleinhandel · annual accounts 30-09-2025
- Establishment unit
- 2.195.298.951 3202 Aarschot, since 01-02-2011
- Financial year end
- 30 September
- Peppol
- Reachable since 29-09-2025
Board and ownership
- ANTHONISSEN ThomasDirector
- Westerflier Group BVDirector · since 02-02-2026 · permanent representative Hervé van Hövell tot Westerflier
- JEMA50%· score 9930-09-2022 annual accounts of JEMA
- Thomas Anthonissenannual accounts 30-09-2025
- WESTERFLIER GROUPannual accounts 30-09-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- < 0.1%
- Gross margin
- €510,564
- ▲ 8.3%
- Turnover
- ≈ €4.9m
- estimated
- Profit
- €181,486
- ▲ 27.6%
- Equity
- €875,702
- ▲ 16.1%
- Total assets
- €1.2m
- ▲ 1.1%
- Employees on 30-09-2025
- 7
- ▲ 16.7%
Score breakdownraises risk1 of the last 3 accounts latelowers riskLiquidity: current ratio 5.07, cash €899,002Equity €875,702 (70.4% of total assets)Founded in 2011Show the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 47, micro). It does better than 81% of them on solvency, 94% on liquidity, 82% on profitability and 69% on growth.
The bankruptcy probability was computed on 03-11-2026 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.
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).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 32 days after the deadline. In the sector (NACE 47), the median for financial year 2024 was on the deadline day, and 47% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 29-04-2026 PDF all 14 filings
Every figure per financial year
The operating result for 2025 is 17% higher than in 2024. It is a recovery after the fall in 2024.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Staff
| Item | 30-09-2021 | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 6 | 6 | 6 | 6 | 7 |
| full-time | 2 | 2 | 2 | 2 | 4 |
| part-time | 4 | 4 | 4 | 4 | 3 |
| in full-time equivalents | 5.1 | 5.1 | 5.1 | 5.2 | 6.3 |
| Average over the year, in full-time equivalents | 5 | 5.1 | 5.1 | 5.2 | 6.1 |
| On a permanent contract | 6 | 6 | 6 | 6 | 7 |
| Joined | - | - | - | - | 1 |
| Left | - | - | - | - | 0 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Securities and guarantees
| Item | 30-09-2021 | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €176,008 | €90,887 | €40,247 | - | - |
| Pledge on the business | - | - | €275,000 | €275,000 | - |
| Pledge on other assets, amount secured | €275,000 | - | - | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 30-09-2021 | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €96,860 | €20,544 | €18,716 | €6,936 | €20,523 |
| Depreciation and write-downs of the year | €67,734 | €69,812 | €70,243 | €53,706 | €26,631 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €157,917 | €166,499 | €187,403 | €198,517 | €229,754 | ▲ 15.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €114,301 | €78,721 | €67,734 | €69,812 | €70,243 | €53,706 | €26,631 | ▼ 50.4% |
| Other operating charges640/8 | - | - | €2,523 | €4,168 | €2,876 | €3,243 | €1,997 | ▼ 38.4% |
| Gross operating margin9900 | €410,938 | €491,436 | €497,305 | €408,272 | €582,134 | €471,250 | €510,564 | ▲ 8.3% |
| Operating profit (loss)9901 | €160,569 | €274,192 | €269,131 | €167,794 | €321,612 | €215,785 | €252,182 | ▲ 16.9% |
| Financial income75/76B | - | - | €6,668 | €5,943 | €8,346 | €12,588 | €9,225 | ▼ 26.7% |
| Recurring financial income75 | €11,594 | €10,015 | €6,668 | €5,943 | €8,346 | €12,588 | €9,225 | ▼ 26.7% |
| Financial charges65/66B | - | - | €19,348 | €15,014 | €17,240 | €18,900 | €24,632 | ▲ 30.3% |
| Recurring financial charges65 | €17,779 | €18,177 | €19,348 | €15,014 | €17,240 | €18,900 | €24,632 | ▲ 30.3% |
| Profit (loss) for the period before taxes9903 | €154,384 | €266,030 | €256,451 | €158,723 | €312,718 | €209,473 | €236,775 | ▲ 13.0% |
| Income taxes67/77 | €25,242 | €77,837 | €60,056 | €36,825 | €99,677 | €67,199 | €55,289 | ▼ 17.7% |
| Profit (loss) for the period9904 | €129,142 | €188,193 | €196,395 | €121,899 | €213,041 | €142,274 | €181,486 | ▲ 27.6% |
| Profit (loss) for the period to be appropriated9905 | €129,142 | €188,193 | €196,395 | €121,899 | €213,041 | €142,274 | €181,486 | ▲ 27.6% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €1.1m | €1.2m | €1.2m | €1.1m | €1.3m | €1.2m | €1.2m | ▲ 1.1% |
| Fixed assets21/28 | €0.3m | €0.2m | €0.2m | €0.2m | €0.1m | €0.08m | €0.07m | ▼ 7.8% |
| Tangible fixed assets22/27 | €0.3m | €0.2m | €0.2m | €0.2m | €0.1m | €0.08m | €0.07m | ▼ 7.8% |
| Plant, machinery and equipment23 | - | - | €0.2m | €0.1m | €0.09m | €0.05m | €0.05m | ▼ 15.5% |
| Furniture and vehicles24 | - | - | €0.03m | €0.02m | €0.01m | €0.007m | €0 | ▼ 100% |
| Other tangible fixed assets26 | - | - | €0.03m | €0.02m | €0.02m | €0.02m | €0.03m | ▲ 53.4% |
| Current assets29/58 | €0.8m | €1.0m | €1.0m | €0.9m | €1.2m | €1.2m | €1.2m | ▲ 1.7% |
| Stocks and contracts in progress3 | €0.1m | €0.1m | €0.1m | €0.1m | €0.2m | €0.1m | €0.1m | ▲ 0.9% |
| Stocks30/36 | - | - | €0.1m | €0.1m | €0.2m | €0.1m | €0.1m | ▲ 0.9% |
| Amounts receivable within one year40/41 | €0.2m | €0.3m | €0.2m | €0.2m | €0.3m | €0.2m | €0.07m | ▼ 66.1% |
| Trade receivables40 | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.05m | ▼ 70.0% |
| Other amounts receivable41 | - | - | €0.04m | €0.07m | €0.03m | €0.05m | €0.02m | ▼ 51.9% |
| Current investments50/53 | - | - | - | - | €0.4m | €0.4m | €0.05m | ▼ 85.7% |
| Cash at bank and in hand54/58 | €0.5m | €0.6m | €0.6m | €0.5m | €0.4m | €0.4m | €0.9m | ▲ 105% |
| Deferred charges and accrued income490/1 | - | - | €0.007m | €0.005m | €0.006m | €0.007m | €0.005m | ▼ 21.5% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €1.1m | €1.2m | €1.2m | €1.1m | €1.3m | €1.2m | €1.2m | ▲ 1.1% |
| Equity10/15 | €0.3m | €0.4m | €0.5m | €0.5m | €0.6m | €0.8m | €0.9m | ▲ 16.1% |
| Contributions10/11 | €0.1m | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Reserves13 | €0.2m | €0.3m | €0.4m | €0.4m | €0.5m | €0.7m | €0.8m | ▲ 18.6% |
| Non-distributable reserves130/1 | - | - | €0.01m | €0.01m | €0.06m | €0.06m | €0.06m | = |
| Reserves not available under the articles1311 | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.06m | ▲ 500% |
| Own shares acquired1312 | - | - | - | - | €0.05m | €0.05m | €0 | ▼ 100% |
| Distributable reserves133 | - | - | €0.3m | €0.3m | €0.5m | €0.6m | €0.7m | ▲ 20.4% |
| Profit (loss) carried forward14 | - | - | - | - | - | - | €0 | - |
| Investment grants15 | - | - | €0.009m | €0.006m | €0.004m | - | - | - |
| Amounts payable17/49 | €0.8m | €0.8m | €0.8m | €0.6m | €0.7m | €0.5m | €0.4m | ▼ 22.7% |
| Amounts payable after more than one year17 | €0.4m | €0.4m | €0.3m | €0.3m | €0.3m | €0.2m | €0.1m | ▼ 44.3% |
| Financial debts170/4 | - | - | €0.08m | €0.02m | - | - | €0.1m | - |
| Trade debts175 | - | - | €0.3m | €0.3m | €0.3m | €0.2m | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €0.4m | €0.4m | €0.4m | €0.3m | €0.4m | €0.2m | €0.2m | ▲ 0.8% |
| Current portion of amounts payable after more than one year42 | - | - | €0.1m | €0.08m | €0.04m | €0.02m | €0.03m | ▲ 85.3% |
| Trade debts44 | €0.1m | €0.09m | €0.08m | €0.08m | €0.06m | €0.09m | €0.07m | ▼ 20.7% |
| Suppliers440/4 | - | - | €0.08m | €0.08m | €0.06m | €0.09m | €0.07m | ▼ 20.7% |
| Taxes, remuneration and social security45 | - | - | €0.03m | €0.03m | €0.08m | €0.03m | €0.04m | ▲ 17.4% |
| Taxes450/3 | - | - | - | - | €0.05m | - | €229 | - |
| Remuneration and social security454/9 | - | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.04m | ▲ 16.7% |
| Other amounts payable47/48 | - | - | €0.2m | €0.2m | €0.2m | €0.09m | €0.09m | ▼ 1.4% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €129,142 | €188,193 | €196,395 | €121,899 | €213,041 | €142,274 | €181,486 | ▲ 27.6% |
| + Depreciation and write-downs630 | €114,301 | €78,721 | €67,734 | €69,812 | €70,243 | €53,706 | €26,631 | ▼ 50.4% |
| Operating cash flow (approximation) | €243,443 | €266,913 | €264,129 | €191,710 | €283,285 | €195,980 | €208,117 | ▲ 6.2% |
| Investment in fixed assets (approximation) | - | -€11,041 | -€96,072 | -€17,288 | -€17,903 | -€5,878 | -€20,428 | ▼ 248% |
| Change in cash | - | €71,086 | €54,876 | -€101,904 | -€149,415 | €55,526 | €460,127 | ▲ 729% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 34,693 companies had the same profile as MATOCO has now. Two years later, 95.3% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
That fits the bankruptcy probability of MATOCO itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 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 34,693 companies, not a prediction for MATOCO. 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.
Latest 10 of 14 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | abbreviated format | 29-04-2026 | 2026-00092357 | |
| 30-09-2024 | abbreviated format | 26-11-2025 | 2025-00570811 | |
| 30-09-2023 | abbreviated format | 07-05-2024 | 2024-00083390 | |
| 30-09-2022 | abbreviated format | 19-05-2023 | 2023-00090825 | |
| 30-09-2021 | abbreviated format | 15-04-2022 | 2022-20005261 | |
| 30-09-2020 | abbreviated format | 30-04-2021 | 2021-12700513 | |
| 30-09-2019 | abbreviated format | 05-05-2020 | 2020-11600058 | |
| 30-09-2018 | abbreviated format | 25-04-2019 | 2019-11100582 | |
| 30-09-2017 | abbreviated format | 22-05-2018 | 2018-14000193 | |
| 30-09-2016 | abbreviated format | 23-05-2017 | 2017-13200168 |
Board & ownership
Directors
Board 2
Permanent representatives 1
Owners and capital
Shareholders
3 ownersOwners 3
- Sourceaccounts JEMA 30-09-2022Equity €697,783 Profit of €261,316 in 2025 (profit of €1,856 in 2024) Checked score 9950%
- Sourceown accounts 30-09-2025Equity €705,505 Profit of €168,354 in 2025 (profit of €111,311 in 2024)share not stated
- Thomas Anthonissennatural personSourceown accounts 30-09-2025share not stated
Capital transactions
- 01-12-2025 Converted to unavailable equity · €100,000
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| ANTHONISSEN Thomas |
|
| Westerflier Group BV |
|
| Marina Janssens |
|
| Thomas Antonissen |
|
Network & group
Connections & network
2 current directorsThe network starts from the directors of MATOCO. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
23-02
Gazette deed
1 director appointed, 2 directors resigningResignations: Thomas Antonissen (director) and Marina Janssens (director) · Appointment: Westerflier Group BV (director) · Permanent representative: Hervé van Hövell tot Westerflier5 points ▸
- General meeting, 02-02-2026
- Director resignation, Thomas Antonissen (director)
- Director resignation, Marina Janssens (director)
- Director appointment, Westerflier Group BV (director)
- Permanent representative, Hervé van Hövell tot Westerflier
01-12
Gazette deed
Changes of role: JANSSENS Marina (director) and ANTHONISSEN Thomas (director)Capital conversion · Reserve release · Amendment of the articles16 points ▸
- General meeting, “buitengewone algemene vergadering” (deed in Dutch)
- Other provision, 50, “inkoop eigen aandelen” (deed in Dutch)
- Other provision, 50, “afwijking gelijk aanbod alle aandeelhouders” (deed in Dutch)
- Board meeting, 50, 50000
- Capital conversion, “statutair onbeschikbare eigen vermogensrekening” (deed in Dutch)
- Reserve release, “statutair onbeschikbare eigen vermogensrekening, opheffing” (deed in Dutch)
- Amendment of the articles
- Capital
- Director resignation, JANSSENS Marina (manager)
- Director resignation, ANTHONISSEN Thomas (manager)
- Director appointment, JANSSENS Marina (director (not named in the articles))
- Director appointment, ANTHONISSEN Thomas (director (not named in the articles))
- The act holds 4 more points.
Show earlier events
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
15 activities
- Zuivel,margarine,beenhouwerij,vers vlees en vleeswaren,vis,bakkerij,groenten en fruit
- Traiteurafdeling
- Alle dranken,alcoholische en niet-alcoholische
- Alle voedingswaren,conserven,diepvriesproducten,snoep
- Speelgoed,papier- en rookwaren en tabak
- Audio-,video- en fotoartikelen
- Alle textielproducten,schoeisel en lederwaren
- Parfumerie,drogisterij,ontsmettingsmiddelen,schoonmaakmiddelen,wasproducten
- Alle artikelen in elektro en non-elektro,geschenken,juwelen,doe-het-zelf-artikelen
- Alle soorten meubelen
- Tuingereedschap
- Dierenartikelen
- Bloemen en planten
- Alle andere artikelen in hout,metaal of andere kunst- of natuurstoffen
- De uitbating van een verbruikzaal en eetgelegenheid in de meest ruime zin
Invoicing and payment
Financial year and general meeting
Accounts at the NBBRecognitions · licences · registrations
Food safety, FASFC
1 siteDual-learning approval
3 live approvals · 3 endedShow 3 ended approvals
Sites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 24092E0072/00E002 | Flanders | 1,062 m² | 1 · 673 m² | 10.8 m · 1 |