MATTHE
ActiveMATTHE has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €261k and a net result of €31k. Equity is growing by ~11.3% per year across the filed fiscal years. Its solvency ranks better than 95% of 27319 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
100
/ 100
Excellent▲ +14 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability60▲+17
Solvency100=
Growth78=
Stability100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days acceptable
Liquidity ample (current ratio 18.28 against 13.0 in 2024), and 7.6% of the assets are financed with debt.
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
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
Sector 43
higher
← 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
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
92.4%
Return on assets
11.1%
Age of the figures
8 mo
neutral · 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 · 10 filingsDeviation from the deadline
2025
31 d late
2024
27 d late
2023
12 d late
2022
31 d late
2021
30 d late
2020
30 d late
2019
28 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
13-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€261k▲ 9.4%
2024 · €238k
2018: €128k
2019: €137k
2020: €154k
2021: €168k
2022: €191k
2023: €218k
2024: €238k
2018 → 2025
Total assets
€282k▲ 6.6%
2024 · €265k
2018: €144k
2019: €159k
2020: €197k
2021: €206k
2022: €249k
2023: €252k
2024: €265k
2018 → 2025
Net result
€31k▲ 51.1%
2024 · €21k
2018: €11k
2019: €9k
2020: €17k
2021: €14k
2022: €23k
2023: €26k
2024: €21k
2018 → 2025
Working capital
€260k▲ 8.5%
2024 · €240k
2018: €129k
2019: €142k
2020: €127k
2021: €149k
2022: €180k
2023: €213k
2024: €240k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€168k-€191k▲ 14.0%€218k▲ 13.7%€238k▲ 9.5%€261k▲ 9.4%
Operating result€21k-€34k▲ 66.1%€38k▲ 10.1%€30k▼ 20.6%€43k▲ 46.0%
Net result€14k-€23k▲ 65.4%€26k▲ 12.2%€21k▼ 21.3%€31k▲ 51.1%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 46% above 2024 and is the highest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €282k
Fixed assets
€7k▲ 44.1%
Current assets
€275k▲ 5.9%
Equity and liabilities €282k
Equity
€261k▲ 9.4%
Debt
€21k▼ 18.7%
The debt ratio falls from 10.0% to 7.6%: equity grows while debt is paid down.
Key figures and ratios
EBITDA
€47k▲
2024 · €37k
Cash flow
€35k▲
2024 · €28k
Solvency
92.4%▲
2024 · 90.0%
Current ratio
18.28▲
2024 · 13.00
Quick ratio
18.28▲
2024 · 13.00
Debt / equity
0.08▼
2024 · 0.11
ROE
12.0%▲
2024 · 8.7%
ROA
11.1%▲
2024 · 7.8%
Interest coverage
202.60▲
2024 · 32.70
Debt
€21k▼
2024 · €26k
Debt ≤ 1 year
€15k▼
2024 · €20k
Income taxes
€12k▲
2024 · €9k
Staff costs
€1k
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€265k€282k▲
Formation expenses20€0€0=
Fixed assets21/28€5k€7k▲
Tangible fixed assets22/27€5k€7k▲
Furniture and vehicles24€5k€7k▲
Current assets29/58€260k€275k▲
Amounts receivable within one year40/41€100k€131k▲
Trade receivables40€94k€127k▲
Other amounts receivable41€6k€4k▼
Cash at bank and in hand54/58€160k€144k▼
Deferred charges and accrued income490/1-€378
Equity and liabilities
Total equity and liabilities10/49€265k€282k▲
Equity10/15€238k€261k▲
Contributions10/11€6k€6k=
Reserves13€117k€140k▲
Tax-exempt reserves132€5k€5k=
Distributable reserves133€112k€135k▲
Profit (loss) carried forward14€115k€115k=
Amounts payable17/49€26k€21k▼
Amounts payable within one year42/48€20k€15k▼
Trade debts44€3k€5k▲
Suppliers440/4€3k€5k▲
Taxes, remuneration and social security45€779€3k▲
Taxes450/3€450€3k▲
Remuneration and social security454/9€328-
Other amounts payable47/48€16k€8k▼
Accrued charges and deferred income492/3€6k€6k=
Income statement
Code20242025
Remuneration, social security and pensions62-€1k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€8k€4k▼
Other operating charges640/8€2k€1k▼
Gross operating margin9900€40k€50k▲
Operating profit (loss)9901€30k€43k▲
Financial income75/76B€659€150▼
Recurring financial income75€659€150▼
Financial charges65/66B€1k€234▼
Recurring financial charges65€1k€234▼
Profit (loss) for the period before taxes9903€29k€43k▲
Income taxes67/77€9k€12k▲
Profit (loss) for the period9904€21k€31k▲
Profit (loss) for the period to be appropriated9905€21k€31k▲
Appropriation of the result
Profit (loss) to be appropriated9906€136k€146k▲
Profit (loss) brought forward from the previous period14P€115k€115k=
Transfer from equity791/2-€9k
Transfer to equity691/2€21k€31k▲
To the legal reserve6920€21k€31k▲
Profit to be distributed694/7-€9k
Return on contributions (dividend)694-€9k
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
31-12
Financial
Highest result since 2018net €31k ▲51.1%
Operating result €43k, net result €31k, both a record.
27-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 27 days late
2024
12-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 12 days late
2023
31-12
Financial
Equity above €200kEq €218k ▲13.7%
6 profitable years in a row build equity to €218k.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
31-12
Financial
Equity above €150kEq €154k ▲12.5%
3 profitable years in a row build equity to €154k.
28-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 28 days late
2019
31-12
Financial
Weakest financial yearnet €9k ▼23.7%
Net result drops to €9k, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
2017
04-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 4 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 act for this company is 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, Herenthout · 1 establishment unit since 2002
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.
Koestraat 1082270 HerenthoutGround area
3,259 m²
Building footprint
359 m²
Volume, LiDAR
703 m³
2 parcels, Flanders · tallest building 8.1 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Koestraat 110, 2270 Herenthout
since 20022.095.645.903
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13012A0916/00H003 | Flanders | 2,556 m² | 1 · 129 m² | 8.1 m · 2 fl. |
| 13012A0916/00K003 | Flanders | 703 m² | 1 · 230 m² | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
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 9,478 companies in sector 43222 we hold annual accounts for 5,626. 4,627 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded21-01-2002
Fiscal year end31-12
Activities, NACEBEL
43222Installation of electric heating, air conditioning, cooling and ventilation
Sources
Crossroads Bank for EnterprisesNational Bank · 24 filingsAddress and cadastre registers
Data from official sources, last processed on 13-09-2026. Scores and ratios are computed by Checked and are not a credit decision.