MATSON
ActiveSummary
The computed 12-month bankruptcy probability of MATSON is 1.8% (moderate). The 2025 annual accounts show negative equity (€-77k) and a net result of €-91k. Equity is shrinking by ~11.5% per year across the filed fiscal years. Its solvency ranks better than 5% of 27965 sector peers (fiscal year 2025). The company has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability0=
Solvency0▼-37
Growth32=
Track record100
Bankruptcy probability, 12 months
1.8%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.18 against 1.09 in 2024; short-term debt: 395.2% and cash: 0.1% of total assets), and equity is negative.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · 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 2025Solvency, return and age of the figures
Solvency
-295.2%
Return on assets
-347.7%
Age of the figures
15 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← 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
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year €-77k
neutral · Filed after the deadline
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 16-02-2026, 16 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 · 10 filingsDeviation from the deadline
2025
16 d late
2024
3 d early
2023
3 d late
2022
14 d late
2021
8 d early
2020
5 d early
2019
3 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close25-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€-77k
2024 · €14k
2019: €32k
2020: €19k▼ -40.0% vs 2019
2021: €24k▲ +23.1% vs 2020
2022: €35k▲ +46.1% vs 2021
2023: €37k▲ +5.2% vs 2022highest in 7 years
2024: €14k▼ -62.7% vs 2023
2025: €-77k▼ -663% vs 2024lowest in 7 years
2019 → 2025
Total assets
€26k▼ 78.0%
2024 · €119k
2019: €117k
2020: €93k▼ -20.9% vs 2019
2021: €97k▲ +4.4% vs 2020
2022: €107k▲ +10.6% vs 2021
2023: €132k▲ +23.2% vs 2022highest in 7 years
2024: €119k▼ -9.7% vs 2023
2025: €26k▼ -78.0% vs 2024lowest in 7 years
2019 → 2025
Net result
€-91k▼ 293%
2024 · €-23k
2019: €-10k
2020: €-13k▼ -31.3% vs 2019
2021: €-2k▲ +85.3% vs 2020
2022: €11k▲ +680% vs 2021highest in 7 years
2023: €2k▼ -83.6% vs 2022
2024: €-23k▼ -1377% vs 2023
2025: €-91k▼ -293% vs 2024lowest in 7 years
2019 → 2025
Working capital
€-85k
2024 · €9k
2019: €16k
2020: €14k▼ -14.1% vs 2019
2021: €24k▲ +70.6% vs 2020
2022: €35k▲ +46.1% vs 2021highest in 7 years
2023: €33k▼ -5.3% vs 2022
2024: €9k▼ -71.7% vs 2023
2025: €-85k▼ -1005% vs 2024lowest in 7 years
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€24k-€35k▲ 46.1%€37k▲ 5.2%€14k▼ 62.7%€-77k
2021: €24k
2022: €35k▲ +46.1% vs 2021
2023: €37k▲ +5.2% vs 2022highest in 5 years
2024: €14k▼ -62.7% vs 2023
2025: €-77k▼ -663% vs 2024lowest in 5 years
Operating result€11k-€9k▼ 16.9%€-321€-22k▼ 6,860%€-74k▼ 231%
2021: €11khighest in 5 years
2022: €9k▼ -16.9% vs 2021
2023: €-321▼ -103% vs 2022
2024: €-22k▼ -6860% vs 2023
2025: €-74k▼ -231% vs 2024lowest in 5 years
Net result€-2k-€11k€2k▼ 83.6%€-23k€-91k▼ 293%
2021: €-2k
2022: €11k▲ +680% vs 2021highest in 5 years
2023: €2k▼ -83.6% vs 2022
2024: €-23k▼ -1377% vs 2023
2025: €-91k▼ -293% vs 2024lowest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €74k in 2025 against €22k in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €26k
Fixed assets
€8k ▼ 27.5%
Current assets
€19k ▼ 82.9%
Key figures and ratios
EBITDA
€-71k▼
2024 · €-19k
Cash flow
€-88k▼
2024 · €-20k
Solvency
-295.2%▼
2024 · 11.5%
Current ratio
0.18▼
2024 · 1.09
Debt to equity
-1.34▼
2024 · 7.67
ROA
-347.7%▼
2024 · -19.4%
Interest coverage
-3.96▲
2024 · -34.21
Debt
€103k▼
2024 · €105k
Debt ≤ 1 year
€103k▲
2024 · €99k
Income taxes
€936▼
2024 · €2k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 43 lines
Balance sheet
Code20242025
Assets
Total assets20/58€119k€26k▼
Fixed assets21/28€11k€8k▼
Tangible fixed assets22/27€11k€8k▼
Furniture and vehicles24€11k€8k▼
Current assets29/58€108k€19k▼
Amounts receivable within one year40/41€81k€18k▼
Trade receivables40€26k€12k▼
Other amounts receivable41€55k€6k▼
Cash at bank and in hand54/58€24k€14▼
Deferred charges and accrued income490/1€4k-
Equity and liabilities
Total equity and liabilities10/49€119k€26k▼
Equity10/15€14k€-77k▼
Contributions10/11€19k€19k=
Reserves13€2k€2k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Profit (loss) carried forward14€-7k€-98k▼
Amounts payable17/49€105k€103k▼
Amounts payable after more than one year17€6k-
Financial debts170/4€6k-
Amounts payable within one year42/48€99k€103k▲
Current portion of amounts payable after more than one year42€69k€85k▲
Trade debts44€18k€15k▼
Suppliers440/4€18k€15k▼
Taxes, remuneration and social security45€9k-
Taxes450/3€646-
Remuneration and social security454/9€9k-
Other amounts payable47/48€3k€3k▲
Income statement
Code20242025
Goods, raw materials, services and sundry goods60/61€129k€95k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3k€3k=
Other operating charges640/8€3k€2k▼
Gross operating margin9900€-17k€-69k▼
Operating profit (loss)9901€-22k€-74k▼
Financial income75/76B€2k€2k▼
Recurring financial income75€2k€2k▼
Financial charges65/66B€567€18k▲
Recurring financial charges65€567€18k▲
Profit (loss) for the period before taxes9903€-21k€-90k▼
Income taxes67/77€2k€936▼
Profit (loss) for the period9904€-23k€-91k▼
Profit (loss) for the period to be appropriated9905€-23k€-91k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-7k€-98k▼
Profit (loss) brought forward from the previous period14P€16k€-7k▼
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €129k | €95k | ▼ 26.5% |
| Remuneration, social security and pensions62 | - | €34k | €1k | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5k | - | €1k | €3k | €3k | = |
| Other operating charges640/8 | - | €2k | €2k | €3k | €2k | ▼ 36.7% |
| Gross operating margin9900 | €26k | €46k | €4k | €-17k | €-69k | ▼ 311% |
| Operating profit (loss)9901 | €11k | €9k | €-321 | €-22k | €-74k | ▼ 231% |
| Financial income75/76B | - | €2k | €3k | €2k | €2k | ▼ 14.6% |
| Recurring financial income75 | €5k | €2k | €3k | €2k | €2k | ▼ 14.6% |
| Financial charges65/66B | - | €390 | €456 | €567 | €18k | ▲ 3,053% |
| Recurring financial charges65 | €15k | €390 | €456 | €567 | €18k | ▲ 3,053% |
| Profit (loss) for the period before taxes9903 | €942 | €11k | €2k | €-21k | €-90k | ▼ 329% |
| Income taxes67/77 | €3k | €28 | - | €2k | €936 | ▼ 56.6% |
| Profit (loss) for the period9904 | €-2k | €11k | €2k | €-23k | €-91k | ▼ 293% |
| Profit (loss) for the period to be appropriated9905 | €-2k | €11k | €2k | €-23k | €-91k | ▼ 293% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €97k | €107k | €132k | €119k | €26k | ▼ 78.0% |
| Fixed assets21/28 | - | - | €13k | €11k | €8k | ▼ 27.5% |
| Tangible fixed assets22/27 | - | - | €13k | €11k | €8k | ▼ 27.5% |
| Furniture and vehicles24 | - | - | €13k | €11k | €8k | ▼ 27.5% |
| Current assets29/58 | €97k | €107k | €118k | €108k | €19k | ▼ 82.9% |
| Amounts receivable within one year40/41 | €66k | €76k | €83k | €81k | €18k | ▼ 77.1% |
| Trade receivables40 | - | €14k | €23k | €26k | €12k | ▼ 52.3% |
| Other amounts receivable41 | - | €62k | €60k | €55k | €6k | ▼ 88.9% |
| Cash at bank and in hand54/58 | €27k | €27k | €32k | €24k | €14 | ▼ 99.9% |
| Deferred charges and accrued income490/1 | - | €4k | €4k | €4k | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €97k | €107k | €132k | €119k | €26k | ▼ 78.0% |
| Equity10/15 | €24k | €35k | €37k | €14k | €-77k | ▼ 663% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Outside capital11 | - | €19k | - | - | - | - |
| Other1109/19 | - | €19k | - | - | - | - |
| Reserves13 | €2k | €2k | €2k | €2k | €2k | = |
| Non-distributable reserves130/1 | - | €2k | €2k | €2k | €2k | = |
| Legal reserve130 | - | €2k | - | - | - | - |
| Reserves not available under the articles1311 | - | - | €2k | €2k | €2k | = |
| Profit (loss) carried forward14 | €4k | €15k | €16k | €-7k | €-98k | ▼ 1,350% |
| Amounts payable17/49 | €73k | €72k | €95k | €105k | €103k | ▼ 1.8% |
| Amounts payable after more than one year17 | - | - | €10k | €6k | - | - |
| Financial debts170/4 | - | - | €10k | €6k | - | - |
| Amounts payable within one year42/48 | €73k | €72k | €85k | €99k | €103k | ▲ 4.4% |
| Current portion of amounts payable after more than one year42 | - | €55k | €59k | €69k | €85k | ▲ 23.0% |
| Trade debts44 | €13k | €13k | €19k | €18k | €15k | ▼ 16.8% |
| Suppliers440/4 | - | €13k | €19k | €18k | €15k | ▼ 16.8% |
| Taxes, remuneration and social security45 | - | €2k | €4k | €9k | - | - |
| Taxes450/3 | - | €646 | €646 | €646 | - | - |
| Remuneration and social security454/9 | - | €1k | €4k | €9k | - | - |
| Other amounts payable47/48 | - | €1k | €2k | €3k | €3k | ▲ 31.1% |
| Accrued charges and deferred income492/3 | - | - | €213 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-2k | €11k | €2k | €-23k | €-91k | ▼ 293% |
| + Depreciation and write-downs630 | €5k | - | €1k | €3k | €3k | = |
| Operating cash flow (approximation) | €4k | €11k | €3k | €-20k | €-88k | ▼ 336% |
| Investment in fixed assets (approximation) | - | - | - | €0 | €0 | - |
| Change in cash | - | €670 | €4k | €-8k | €-24k | ▼ 210% |
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
16-02
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 16 days late
2025
30-06
Financial
Weakest financial yearnet €-91k
Net result drops to €-91k, the lowest in the series.
28-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
03-02
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 3 days late
2023
14-02
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 14 days late
2022
30-06
Financial
Back to profitnet €11k
Net result €11k after 3 loss-making years.
23-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
26-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
03-02
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 3 days late
2019
21-02
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 21 days late
2018
31-01
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
20-02
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 20 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Mortsel · 1 establishment unit since 2006
Ground area
1,035 m²
Building footprint
398 m²
Volume, LiDAR
7,438 m³
Parcel 11513C0081/00T002, Flanders · tallest building 22.8 m, ±6 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
MATSON
since 20062.174.384.860
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11513C0081/00T002 | Flanders | 1,035 m² | 1 · 398 m² | 22.8 m · 6 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.
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Of 22,815 companies in sector 43211 we hold annual accounts for 10,325. 6,345 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
Founded02-11-2006
Fiscal year end30-06
Activities, NACEBEL 2025
43211General electrical installation work
43110Demolition
43221Plumbing work
Scores and ratios are computed by Checked and are not a credit decision.