MATSN

Active

Private limited companyfounded 20232 yrs activeFortem 39, 8690 Alveringem, BelgiumKBO/BCE: BE 1002.907.546

MATSN has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €12k and a net result of €-479. Its solvency ranks better than 51% of 13908 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).

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Checked score

Score 2025

35 / 100

Weak▼ -21 vs 2024

The score combines four axes. Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability0▼-100

Solvency42▼-4

Growth32

Stability82

Bankruptcy probability, 12 months

0.9% Low

0%0.5%1.5%4%10%≥ 25%

Credit up to €500 at 30 days only on tighter terms

Liquidity short (current ratio 0.72 against 0.49 in 2024), and 69.2% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Six signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Young company

A young company has little track record yet and statistically fails more often than an established one.

KBO · incorporation date

Age against the risk zone

Lower-failure-rate sector

In this sector companies fail less often than the Belgian average.

Gazette · bankruptcies per sector, NACE 68

Relative position

BE, all sectors

reference

Sector 68

lower

← fewer bankruptcies more bankruptcies →

Annual accounts: weaker financial profile

The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.

NBB · annual accounts 2025

Solvency, return and age of the figures

Solvency

30.8%

Return on assets

-1.3%

Age of the figures

8 mo

Filed after the deadline

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.

NBB · 2 filings

Deviation from the deadline

2025

31 d late

2024

30 d late

← before the deadline after the deadline →

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 months

Position in the running window

15-09-2026 today31-12-2026 close31-07-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2025, micro schema

Equity

€12k▼ 2.9%

2024 · €12k

2024: €12k

2024 → 2025

Total assets

€38k▲ 14.9%

2024 · €33k

2024: €33k

2024 → 2025

Net result

€-479

2024 · €9k

2024: €9k

2024 → 2025

Working capital

€-8k▲ 30.8%

2024 · €-11k

2024: €-11k

2024 → 2025

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20242025Trend

Equity€12k-€12k▼ 2.9%

Operating result€12k-€608▼ 95.0%

Net result€9k-€-479

Turnover and EBIT margin not published: the micro schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result falls in 2025; 2025 is 95% below 2024.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €38k

50.4%

49.6%

Fixed assets €19k▼ 16.1%

Current assets €19k▲ 84.0%

Equity and liabilities €38k

30.8%

69.2%

Equity €12k▼ 2.9%

Debt €26k▲ 25.2%

The debt ratio rises from 63.5% to 69.2%: debt grows while equity shrinks.

Key figures and ratios

2025 value · change against 2024

EBITDA

€5k▼

2024 · €15k

Cash flow

€4k▼

2024 · €12k

Solvency

30.8%▼

2024 · 36.5%

Current ratio

0.72▲

2024 · 0.49

Quick ratio

0.72▲

2024 · 0.49

Debt / equity

2.24▲

2024 · 1.74

ROE

-4.1%▼

2024 · 75.3%

ROA

-1.3%▼

2024 · 27.5%

Interest coverage

39.16▼

2024 · 88.50

Debt

€26k▲

2024 · €21k

Debt ≤ 1 year

€26k▲

2024 · €21k

Income taxes

€951▼

2024 · €3k

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€33k€38k▲

Fixed assets21/28€23k€19k▼

Tangible fixed assets22/27€21k€17k▼

Plant, machinery and equipment23€4k€3k▼

Furniture and vehicles24€17k€14k▼

Financial fixed assets28€2k€2k=

Current assets29/58€10k€19k▲

Amounts receivable within one year40/41€3k€8k▲

Trade receivables40€2k€6k▲

Other amounts receivable41€1k€2k▲

Cash at bank and in hand54/58€6k€10k▲

Deferred charges and accrued income490/1€1k€709▼

Equity and liabilities

Total equity and liabilities10/49€33k€38k▲

Equity10/15€12k€12k▼

Contributions10/11€3k€3k=

Reserves13€9k€9k▼

Distributable reserves133€9k€9k▼

Profit (loss) carried forward14-€0

Amounts payable17/49€21k€26k▲

Amounts payable within one year42/48€21k€26k▲

Trade debts44€2k€4k▲

Suppliers440/4€2k€4k▲

Taxes, remuneration and social security45€5k€5k▼

Taxes450/3€5k€5k▼

Other amounts payable47/48€14k€17k▲

Income statement Code20242025

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3k€5k▲

Other operating charges640/8€667€1k▲

Gross operating margin9900€16k€7k▼

Operating profit (loss)9901€12k€608▼

Financial income75/76B€33€0▼

Recurring financial income75€33€0▼

Financial charges65/66B€175€135▼

Recurring financial charges65€175€135▼

Profit (loss) for the period before taxes9903€12k€472▼

Income taxes67/77€3k€951▼

Profit (loss) for the period9904€9k€-479▼

Profit (loss) for the period to be appropriated9905€9k€-479▼

Appropriation of the result

Profit (loss) to be appropriated9906€9k€-356▼

Profit (loss) brought forward from the previous period14P-€123

Transfer from equity791/2-€356

Transfer to equity691/2€9k€0▼

To other reserves6921€9k€0▼

The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 3Gazette 1Filings 2

Next filing, fiscal year 2026, expected by 31-07-2027

2026

31-08

NBB filing Annual accounts filed

fiscal year 2025 · micro schema · 31 days late

15-07

State Gazette act Registered office

Registered-office move1 fact ▸

Registered-office move, Fortem 39 8690 Alveringem

2025

30-08

NBB filing Annual accounts filed

fiscal year 2024 · micro schema · 30 days late

State Gazette actNBB filing

Directors · office · real estate

Directors

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.

Location & real-estate footprint

Registered office, Alveringem · 1 establishment unit since 2023

establishment The establishment unit on the map

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.

Fortem 398690 Alveringem

Ground area

1,918 m²

Building footprint

628 m²

Volume, LiDAR

5,725 m³