MATSTORE
ActiveSummary
MATSTORE has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €49,955 and a net result of €321. Equity is growing by ~9.5% per year across the filed fiscal years. Its solvency ranks better than 12% of 36386 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability69▼-2
Solvency31▼-9
Growth78=
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000 at 30 days acceptable
Liquidity tight (current ratio 1.02 against 1.05 in 2023; short-term debt: 94.5% and cash: 10.8% of total assets), and 94.5% of the assets are financed with debt.
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Signals
Six 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 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 · 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 2024Solvency, return and age of the figures
Solvency
5.5%
Return on assets
0%
Age of the figures
21 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 12% of 36386 sector peers (2024).
NBB · sector comparisonPosition among 36386 sector peers
Solvency
better than 12%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 31-08-2025, 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 · 10 filingsDeviation from the deadline
2025
not confirmed
2024
31 d late
2023
76 d late
2022
92 d late
2021
75 d late
2020
10 d late
2019
76 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 60 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€49,955▲ 0.6%
2023 · €49,634
Total assets
€903,456▲ 178%
2023 · €324,735
Net result
€321▼ 94.8%
2023 · €6,143
Working capital
€13,307▼ 8.0%
2023 · €14,472
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, 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
Line20202021202220232024
Operating result€26,559▲ 9,272%€5,354▼ 79.8%€4,463▼ 16.6%€11,378▲ 155%€2,611▼ 77.0%
Net result€23,503within the sector's middle half▲ 72,822%€3,861within the sector's middle half▼ 83.6%€1,813within the sector's middle half▼ 53.0%€6,143within the sector's middle half▲ 239%€321within the sector's middle half▼ 94.8%
Equity€37,816within the sector's middle half▲ 164%€41,677within the sector's middle half▲ 10.2%€43,490within the sector's middle half▲ 4.4%€49,634within the sector's middle half▲ 14.1%€49,955within the sector's middle half▲ 0.6%
Total assets€119,995within the sector's middle half▲ 119%€238,358within the sector's middle half▲ 98.6%€291,124within the sector's middle half▲ 22.1%€324,735above the sector's middle half▲ 11.5%€903,456above the sector's middle half▲ 178%
Debt€82,178▲ 103%€196,681▲ 139%€247,634▲ 25.9%€275,102▲ 11.1%€853,500▲ 210%
Working capital€36,396within the sector's middle half▲ 98.1%€41,734within the sector's middle half▲ 14.7%€32,543within the sector's middle half▼ 22.0%€14,472within the sector's middle half▼ 55.5%€13,307within the sector's middle half▼ 8.0%
Solvency31.5%within the sector's middle half▲ 5.4pp17.5%below the sector's middle half▼ 14.0pp14.9%below the sector's middle half▼ 2.5pp15.3%below the sector's middle half▲ 0.3pp5.5%below the sector's middle half▼ 9.8pp
Current ratio1.44within the sector's middle half▼ 0.141.21within the sector's middle half▼ 0.231.13within the sector's middle half▼ 0.081.05below the sector's middle half▼ 0.081.02below the sector's middle half▼ 0.04
Return on assets (ROA)19.6%above the sector's middle half▲ 19.5pp1.6%within the sector's middle half▼ 18.0pp0.6%below the sector's middle half▼ 1.0pp1.9%within the sector's middle half▲ 1.3pp0.0%below the sector's middle half▼ 1.9pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
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 2024; 2024 is 77% below 2023 and is the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €903,456
Fixed assets
€36,712 ▲ 3.7%
Current assets
€866,744 ▲ 200%
Equity and liabilities €903,456
Equity
€49,955 ▲ 0.6%
Debt
€853,500 ▲ 210%
Debt's share of the balance-sheet total rises from 84.7% to 94.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€11,351▼
2023 · €15,664
Cash flow
€9,061▼
2023 · €10,429
Quick ratio
0.97▲
2023 · 0.90
Debt to equity
17.09▲
2023 · 5.54
ROE
0.6%▼
2023 · 12.4%
Interest coverage
7.45▲
2023 · 6.96
Debt ≤ 1 year
€853,437▲
2023 · €274,858
Income taxes
€2,037▼
2023 · €2,983
Staff costs
€31▼
2023 · €1,789
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,447 companies that looked in July 2024 the way this one looks now, 1.9% went bankrupt within 24 months and 96% are still going.
- Small
- 10 to 20 years old
- solvency under 10%
- a profit under 5% of the balance sheet
1.9%
went bankrupt
2.0%
stopped otherwise
96%
still going
A further 0.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.1% 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 1,447 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €1,789 | €31 | ▼ 98.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,015 | €959 | €146 | €4,285 | €8,739 | ▲ 104% |
| Other operating charges640/8 | - | €1,274 | €1,911 | €5,115 | €2,440 | ▼ 52.3% |
| Gross operating margin9900 | €35,213 | €7,587 | €6,520 | €22,567 | €13,821 | ▼ 38.8% |
| Operating profit (loss)9901 | €26,559 | €5,354 | €4,463 | €11,378 | €2,611 | ▼ 77.0% |
| Financial income75/76B | - | €4 | €1 | €0 | €1,271 | ▲ 1,815,471% |
| Recurring financial income75 | €0 | €4 | €1 | €0 | €1,271 | ▲ 1,815,471% |
| Financial charges65/66B | - | €396 | €2,211 | €2,252 | €1,524 | ▼ 32.3% |
| Recurring financial charges65 | €12 | €396 | €2,211 | €2,252 | €1,524 | ▼ 32.3% |
| Profit (loss) for the period before taxes9903 | €26,548 | €4,962 | €2,253 | €9,127 | €2,359 | ▼ 74.2% |
| Income taxes67/77 | €3,046 | €1,102 | €440 | €2,983 | €2,037 | ▼ 31.7% |
| Profit (loss) for the period9904 | €23,503 | €3,861 | €1,813 | €6,143 | €321 | ▼ 94.8% |
| Profit (loss) for the period to be appropriated9905 | €23,503 | €3,861 | €1,813 | €6,143 | €321 | ▼ 94.8% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €119,995 | €238,358 | €291,124 | €324,735 | €903,456 | ▲ 178% |
| Fixed assets21/28 | €1,475 | - | €11,191 | €35,406 | €36,712 | ▲ 3.7% |
| Tangible fixed assets22/27 | €1,475 | - | €11,191 | €35,406 | €36,712 | ▲ 3.7% |
| Furniture and vehicles24 | - | - | - | €5,869 | €10,309 | ▲ 75.7% |
| Other tangible fixed assets26 | - | - | €11,191 | €29,537 | €26,403 | ▼ 10.6% |
| Current assets29/58 | €118,520 | €238,358 | €279,933 | €289,330 | €866,744 | ▲ 200% |
| Stocks and contracts in progress3 | €44,000 | €48,956 | €48,956 | €43,318 | €41,787 | ▼ 3.5% |
| Stocks30/36 | - | €48,956 | €48,956 | €43,318 | €41,787 | ▼ 3.5% |
| Amounts receivable within one year40/41 | €58,180 | €189,052 | €223,922 | €235,647 | €724,011 | ▲ 207% |
| Trade receivables40 | - | €172,807 | €223,922 | €233,245 | €718,437 | ▲ 208% |
| Other amounts receivable41 | - | €16,245 | - | €2,402 | €5,574 | ▲ 132% |
| Cash at bank and in hand54/58 | €14,559 | €240 | €4,169 | €9,789 | €97,830 | ▲ 899% |
| Deferred charges and accrued income490/1 | - | €110 | €2,886 | €577 | €3,116 | ▲ 440% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €119,995 | €238,358 | €291,124 | €324,735 | €903,456 | ▲ 178% |
| Equity10/15 | €37,816 | €41,677 | €43,490 | €49,634 | €49,955 | ▲ 0.6% |
| Contributions10/11 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €26,860 | €31,860 | €37,260 | €43,360 | €43,360 | = |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €1,860 | - | - |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | €1,860 | - | - |
| Distributable reserves133 | - | €30,000 | €35,400 | €41,500 | €43,360 | ▲ 4.5% |
| Profit (loss) carried forward14 | €4,756 | €3,617 | €30 | €74 | €395 | ▲ 436% |
| Amounts payable17/49 | €82,178 | €196,681 | €247,634 | €275,102 | €853,500 | ▲ 210% |
| Amounts payable within one year42/48 | €82,123 | €196,624 | €247,390 | €274,858 | €853,437 | ▲ 211% |
| Trade debts44 | €66,131 | €130,806 | €135,763 | €206,189 | €767,783 | ▲ 272% |
| Suppliers440/4 | - | €130,806 | €135,763 | €206,189 | €767,783 | ▲ 272% |
| Advances received on contracts in progress46 | - | - | €13,863 | - | €5,000 | - |
| Taxes, remuneration and social security45 | - | €3,608 | €6,353 | €3,423 | €5,021 | ▲ 46.7% |
| Taxes450/3 | - | €3,608 | €6,353 | €3,423 | €5,021 | ▲ 46.7% |
| Other amounts payable47/48 | - | €62,210 | €91,411 | €65,245 | €75,633 | ▲ 15.9% |
| Accrued charges and deferred income492/3 | - | €57 | €244 | €244 | €64 | ▼ 73.8% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €23,503 | €3,861 | €1,813 | €6,143 | €321 | ▼ 94.8% |
| + Depreciation and write-downs630 | €6,015 | €959 | €146 | €4,285 | €8,739 | ▲ 104% |
| Operating cash flow (approximation) | €29,518 | €4,819 | €1,959 | €10,429 | €9,061 | ▼ 13.1% |
| Investment in fixed assets (approximation) | - | - | - | -€28,500 | -€10,045 | ▲ 64.8% |
| Change in cash | - | -€14,319 | €3,928 | €5,620 | €88,041 | ▲ 1,467% |
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
2025
31-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 31 days late
2024
15-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 76 days late
2023
31-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 92 days late
2022
14-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 75 days late
2021
10-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 10 days late
2020
31-12
Financial
Highest result since 2019net €23,503 ▲72,822%
Operating result €26,559, net result €23,503, both a record.
15-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 76 days late
2018
06-11
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 98 days late
2017
27-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 27 days late
2016
04-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 4 days late
2015
06-08
NBB filing
Annual accounts filed
fiscal year 2014 · full schema · 6 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Saint-Ghislain · 1 establishment unit since 2019
Ground area
2.0 ha
Building footprint
680 m²
Volume, LiDAR
257 m³
2 parcels, Wallonia · tallest building 4.1 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Rue de la Verrerie(B) 3, 7300 Boussu
since 20192.285.818.955
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 53014A1417/00H000 | Wallonia | 1.6 ha | 1 · 74 m² | 4.1 m · 1 fl. |
| 53070A0167/00P000 | Wallonia | 4,052 m² | 1 · 606 m² | - |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 22,831 companies in sector 43211 we hold annual accounts for 10,335. 8,574 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
Founded08-10-2012
Fiscal year end31-12
Activities, NACEBEL 2025
43211General electrical installation work
42220Construction of utility projects for electricity and telecommunications
46180Agents specialised in the wholesale of other particular products
61100Wired, wireless and satellite telecommunications
62900Other information technology and computer services
71121Engineering and related technical consultancy, excluding land surveyors
E-invoicing
Reachable via Peppol
Peppol ID
0208:0849400492
Registered
12-12-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.