MATRIXDECOR
ActiveSummary
MATRIXDECOR has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.0m and a net result of €683,322. Equity is growing by ~36.7% per year across the filed fiscal years. Its solvency ranks better than 56% of 1041 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability83▼-9
Solvency76▼-15
Growth78=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €240,000 at 30 days acceptable
Liquidity ample (current ratio 6.08 against 2.15 in 2024; short-term debt: 6.9% and cash: 22.2% of total assets), and 49.3% 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 25
Relative position
BE, all sectors
reference
Manufacture of fabricated metal products, except machinery and equipment (NACE 25)
about 50% more 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
50.7%
Return on assets
11.4%
Age of the figures
9 mo
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
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
126 d early
2023
37 d early
2022
28 d early
2021
39 d early
2020
36 d early
2019
17 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 44 days before 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. Usually files around 25 June (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€3.0m▲ 115%
2024 · €1.4m
Total assets
€6.0m▲ 177%
2024 · €2.2m
Net result
€683,322▲ 73.5%
2024 · €393,754
Working capital
€2.1m▲ 344%
2024 · €471,981
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 25, Manufacture of fabricated metal products, except machinery and equipment, 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€99,941€402,457▲ 303%€171,698▼ 57.3%€544,074▲ 217%€922,547▲ 69.6%
Net result€63,354within the sector's middle half▲ 234%€190,337within the sector's middle half▲ 200%€142,307within the sector's middle half▼ 25.2%€393,754above the sector's middle half▲ 177%€683,322above the sector's middle half▲ 73.5%
Equity€374,565within the sector's middle half▲ 20.4%€964,902within the sector's middle half▲ 158%€1.1mwithin the sector's middle half▲ 14.7%€1.4mabove the sector's middle half▲ 28.1%€3.0mabove the sector's middle half▲ 115%
Total assets€1.4mwithin the sector's middle half▲ 15.4%€2.1mwithin the sector's middle half▲ 49.1%€2.1mwithin the sector's middle half▲ 0.1%€2.2mwithin the sector's middle half▲ 1.4%€6.0mabove the sector's middle half▲ 177%
Debt€1.1m▲ 13.7%€1.2m▲ 10.5%€1.0m▼ 12.0%€745,270▼ 27.3%€3.0m▲ 296%
Working capital€185,029within the sector's middle half▲ 9.1%€716,736within the sector's middle half▲ 287%€533,782within the sector's middle half▼ 25.5%€471,981within the sector's middle half▼ 11.6%€2.1mabove the sector's middle half▲ 344%
Solvency26.2%within the sector's middle half▲ 1.1pp45.3%within the sector's middle half▲ 19.1pp51.9%within the sector's middle half▲ 6.6pp65.5%within the sector's middle half▲ 13.6pp50.7%within the sector's middle half▼ 14.8pp
Current ratio1.55within the sector's middle half▼ 0.092.33within the sector's middle half▲ 0.782.16within the sector's middle half▼ 0.172.15within the sector's middle half▼ 0.016.08above the sector's middle half▲ 3.92
Return on assets (ROA)4.4%within the sector's middle half▲ 2.9pp8.9%within the sector's middle half▲ 4.5pp6.7%within the sector's middle half▼ 2.3pp18.2%above the sector's middle half▲ 11.5pp11.4%within the sector's middle half▼ 6.8pp
Staff (FTE)2.3below the sector's middle half▲ 91.7%3.6within the sector's middle half▲ 56.5%3.9within the sector's middle half▲ 8.3%4within the sector's middle half▲ 2.6%5.8within the sector's middle half▲ 45.0%
above
within
below
the middle half (P25 to P75) of NACE 25, Manufacture of fabricated metal products, except machinery and equipment, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 70% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €6.0m
Fixed assets
€3.5m ▲ 172%
Current assets
€2.5m ▲ 184%
Equity and liabilities €6.0m
Equity
€3.0m ▲ 115%
Debt
€3.0m ▲ 296%
Debt's share of the balance-sheet total rises from 34.5% to 49.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€1.3m▲
2024 · €729,819
Cash flow
€1.0m▲
2024 · €579,500
Quick ratio
5.09▲
2024 · 1.26
Debt to equity
0.97▲
2024 · 0.53
ROE
22.4%▼
2024 · 27.8%
Interest coverage
14.16▼
2024 · 47.61
Debt ≤ 1 year
€412,716▲
2024 · €409,619
Debt > 1 year
€2.5m▲
2024 · €335,650
Income taxes
€160,178▲
2024 · €121,625
Staff costs
€271,769▲
2024 · €161,416
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,679 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
3.8%
stopped otherwise
95%
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 0.5% 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 497,662 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% | 1.7% |
| 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 75% 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 34,679 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €6,000 | - | - | - |
| Remuneration, social security and pensions62 | €50,027 | €98,249 | €124,972 | €161,416 | €271,769 | ▲ 68.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €88,742 | €84,449 | €149,267 | €185,745 | €332,267 | ▲ 78.9% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | - | €27,378 | - |
| Other operating charges640/8 | €10,903 | €11,366 | €20,720 | €12,020 | €21,511 | ▲ 79.0% |
| Gross operating margin9900 | €249,612 | €596,521 | €466,657 | €903,255 | €1.6m | ▲ 74.4% |
| Operating profit (loss)9901 | €99,941 | €402,457 | €171,698 | €544,074 | €922,547 | ▲ 69.6% |
| Financial income75/76B | €2,485 | €4,577 | €16,088 | €1,392 | €9,836 | ▲ 607% |
| Recurring financial income75 | €2,485 | €2,374 | €2,274 | €1,392 | €8,785 | ▲ 531% |
| Non-recurring financial income76B | - | €2,203 | €13,815 | - | €1,051 | - |
| Financial charges65/66B | €22,731 | €124,681 | €14,672 | €30,086 | €88,883 | ▲ 195% |
| Recurring financial charges65 | €13,414 | €13,253 | €14,625 | €15,328 | €88,618 | ▲ 478% |
| Non-recurring financial charges66B | €9,317 | €111,428 | €47 | €14,758 | €265 | ▼ 98.2% |
| Profit (loss) for the period before taxes9903 | €79,694 | €282,353 | €173,114 | €515,380 | €843,500 | ▲ 63.7% |
| Income taxes67/77 | €16,341 | €92,016 | €30,807 | €121,625 | €160,178 | ▲ 31.7% |
| Profit (loss) for the period9904 | €63,354 | €190,337 | €142,307 | €393,754 | €683,322 | ▲ 73.5% |
| Profit (loss) for the period to be appropriated9905 | €63,354 | €190,337 | €142,307 | €393,754 | €683,322 | ▲ 73.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.4m | €2.1m | €2.1m | €2.2m | €6.0m | ▲ 177% |
| Fixed assets21/28 | €909,288 | €874,035 | €1.1m | €1.3m | €3.5m | ▲ 172% |
| Intangible fixed assets21 | €3,200 | €1,600 | - | - | - | - |
| Tangible fixed assets22/27 | €701,786 | €807,760 | €1.1m | €1.2m | €3.4m | ▲ 182% |
| Land and buildings22 | €527,592 | €497,336 | €566,077 | €518,613 | €1.3m | ▲ 160% |
| Plant, machinery and equipment23 | €155,574 | €265,759 | €292,756 | €545,944 | €276,749 | ▼ 49.3% |
| Furniture and vehicles24 | €18,621 | €44,665 | €24,861 | €10,249 | €17,424 | ▲ 70.0% |
| Leasing and similar rights25 | - | - | €187,074 | €139,744 | €1.8m | ▲ 1,176% |
| Financial fixed assets28 | €204,302 | €64,675 | €67,075 | €67,075 | €67,075 | = |
| Current assets29/58 | €519,412 | €1.3m | €995,009 | €881,600 | €2.5m | ▲ 184% |
| Stocks and contracts in progress3 | €252,320 | €343,840 | €468,120 | €364,720 | €408,318 | ▲ 12.0% |
| Stocks30/36 | €252,320 | €343,840 | €400,720 | €364,720 | €408,318 | ▲ 12.0% |
| Contracts in progress37 | - | - | €67,400 | - | - | - |
| Amounts receivable within one year40/41 | €235,324 | €867,969 | €358,037 | €306,099 | €752,768 | ▲ 146% |
| Trade receivables40 | €215,041 | €351,009 | €201,038 | €116,324 | €564,836 | ▲ 386% |
| Other amounts receivable41 | €20,283 | €516,960 | €156,999 | €189,776 | €187,932 | ▼ 1.0% |
| Cash at bank and in hand54/58 | €28,551 | €39,070 | €153,615 | €197,243 | €1.3m | ▲ 574% |
| Deferred charges and accrued income490/1 | €3,216 | €5,334 | €15,237 | €13,538 | €17,310 | ▲ 27.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.4m | €2.1m | €2.1m | €2.2m | €6.0m | ▲ 177% |
| Equity10/15 | €374,565 | €964,902 | €1.1m | €1.4m | €3.0m | ▲ 115% |
| Contributions10/11 | €18,600 | €420,460 | €420,460 | €420,460 | €1.4m | ▲ 237% |
| Reserves13 | €355,885 | €544,442 | €686,749 | €997,496 | €1.6m | ▲ 63.0% |
| Non-distributable reserves130/1 | €1,860 | - | - | - | - | - |
| Reserves not available under the articles1311 | €1,860 | - | - | - | - | - |
| Tax-exempt reserves132 | €83,110 | €83,110 | €83,110 | €83,110 | €83,110 | = |
| Distributable reserves133 | €270,916 | €461,332 | €603,639 | €914,386 | €1.5m | ▲ 68.7% |
| Profit (loss) carried forward14 | €79 | - | - | - | - | - |
| Amounts payable17/49 | €1.1m | €1.2m | €1.0m | €745,270 | €3.0m | ▲ 296% |
| Amounts payable after more than one year17 | €719,752 | €618,230 | €556,778 | €335,650 | €2.5m | ▲ 657% |
| Financial debts170/4 | €719,752 | €618,230 | €556,778 | €335,650 | €2.5m | ▲ 657% |
| Amounts payable within one year42/48 | €334,383 | €539,476 | €461,227 | €409,619 | €412,716 | ▲ 0.8% |
| Current portion of amounts payable after more than one year42 | €127,484 | €191,707 | €297,450 | €220,115 | €235,462 | ▲ 7.0% |
| Trade debts44 | €62,769 | €206,144 | €69,990 | €152,924 | €48,673 | ▼ 68.2% |
| Suppliers440/4 | €62,769 | €206,144 | €69,990 | €152,924 | €48,673 | ▼ 68.2% |
| Taxes, remuneration and social security45 | €56,214 | €119,427 | €92,733 | €33,073 | €116,699 | ▲ 253% |
| Taxes450/3 | €53,570 | €113,295 | €82,930 | €13,959 | €88,306 | ▲ 533% |
| Remuneration and social security454/9 | €2,645 | €6,132 | €9,803 | €19,114 | €28,393 | ▲ 48.5% |
| Other amounts payable47/48 | €87,915 | €22,198 | €1,054 | €3,507 | €11,882 | ▲ 239% |
| Accrued charges and deferred income492/3 | - | €7,639 | €7,639 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €63,354 | €190,337 | €142,307 | €393,754 | €683,322 | ▲ 73.5% |
| + Depreciation and write-downs630 | €88,742 | €84,449 | €149,267 | €185,745 | €332,267 | ▲ 78.9% |
| Operating cash flow (approximation) | €152,096 | €274,786 | €291,574 | €579,500 | €1.0m | ▲ 75.3% |
| Investment in fixed assets (approximation) | - | -€49,196 | -€413,076 | -€329,528 | -€2.5m | ▼ 671% |
| Change in cash | - | €10,518 | €114,546 | €43,627 | €1.1m | ▲ 2,496% |
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
09-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
25-03
State Gazette act
Resignation: THOLEAU BV (director)Appointment: ALTUM MANAGEMENT BV (director) · Permanent representative: Thomas Van de Moortel · Director discharge9 facts ▸
State Gazette act
Resignation: THOLEAU BV (director)
Appointment: ALTUM MANAGEMENT BV (director) · Permanent representative: Thomas Van de Moortel · Director discharge9 facts ▸
- General meeting, 16/02/2026
- Director resignation, THOLEAU BV (director)
- Director appointment, ALTUM MANAGEMENT BV (director)
- Permanent representative, Thomas Van de Moortel
- Permanent representative, Thomas Van de Moortel
- Director discharge, THOLEAU BV
- Power of attorney, Julie Vanermen
- Power of attorney, Louis Clarys
- Power of attorney, Jan Dante Dumon
2025
31-12
Financial
Highest result since 2018net €683,322 ▲73.5%
Operating result €922,547, net result €683,322, both a record.
31-12
Financial
Liquidity triplescurrent ratio 6.08
Current ratio from 2.15 to 6.08.
31-12
Financial
Equity above €2mEq €3.0m ▲115%
8 profitable years in a row build equity to €3.0m.
27-03
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
24-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Equity above €1mEq €1.1m ▲14.7%
6 profitable years in a row build equity to €1.1m.
03-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Equity above €500,000Eq €964,902 ▲158%
5 profitable years in a row build equity to €964,902.
22-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
25-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
Show earlier events
2020
31-12
Financial
Weakest financial yearnet €18,986 ▼68.2%
Net result drops to €18,986, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity doublescurrent ratio 1.65
Current ratio from 0.80 to 1.65; short-term debt falls from €730,444 to €261,956.
14-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
24-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 55 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 31 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 9 acts read
About the unread acts
Of the 9 Belgian State Gazette acts we know for this company, 1 has been read. The other 8 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, last change in 2026
Board 1
Altum Management
CurrentDirector · since 09-02-2026 · Private limited company · perm. rep.: Thomas Van de Moortel
Permanent representatives 1
Thomas Van de Moortel
CurrentPermanent representative · since 09-02-2026 · for Altum Management
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
8 of this company's 9 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Tielt · 1 establishment unit since 2008
Ground area
1,904 m²
Building footprint
1,643 m²
Volume, LiDAR
12,162 m³
Parcel 37322D0030/00K002, Flanders · tallest building 11.3 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
MATRIXDECOR
since 20082.171.685.290
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 37322D0030/00K002 | Flanders | 1,904 m² | 1 · 1,643 m² | 11.3 m · 3 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.
Mandate history
2 people since 2026, 1 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Altum Management |
|
| Tholeau |
|
Structure & network
Owners and holdings
1 owner · 1 holdingOwners 1
-
17.33%
Holdings 1
-
99.5%
According to the 2025 annual accounts of MATRIXDECOR 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
1 connected companyThe connected companies are in the list below.
This company
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Shareholding
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Linked via shared directors
TENEX
Shared corporate director
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Public money · subsidies and aid
Flemish government
2022 to 2024 · 4 entries · 32,990 EUR awarded · 32,990 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 2 | 17,000 EUR | 17,000 EUR |
| 2023 | 1 | 7,500 EUR | 7,500 EUR |
| 2022 | 1 | 8,490 EUR | 8,490 EUR |
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Of 3,984 companies in sector 25110 we hold annual accounts for 2,146. 870 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
Founded19-05-2008
Fiscal year end31-12
Activities, NACEBEL 2025
25110Manufacture of metal structures and parts of structures
77399Renting and leasing of other machinery, equipment and tangible goods
43240Other construction installation
E-invoicing
Reachable via Peppol
Peppol ID
0208:0898131611
Registered
01-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.