MATHICO
ActiveSummary
MATHICO has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €665,334 and a net result of €80,252. Equity is growing by ~16.4% per year across the filed fiscal years. Its solvency ranks better than 60% of 3200 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability78=
Solvency89▲+10
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €55,000 at 30 days acceptable
Liquidity short (current ratio 0.01 against 0.07 in 2024; short-term debt: 26.8% of total assets), and 35.5% of the assets are financed with debt.
Credit check for your own amount and term
Open the credit simulator : see how the verdict changes with amount, term and advance.
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer 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
64.5%
Return on assets
7.8%
Age of the figures
18 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 14-10-2025, 17 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
17 d early
2024
1 d early
2023
7 d early
2022
3 d early
2021
10 d early
2020
3 d early
2019
9 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close26-09-2026 today31-10-2026 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed Roughly what is this company worth?Value indication
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, full schema
In the rankings
#7 company by equity in Leuze-en-Hainaut, Professional and technical services sector
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€80,252▲ 1.7%
2024 · €78,873
Working capital
-€273,550▲ 3.9%
2024 · -€284,638
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€102,020▲ 25.9%€106,323▲ 4.2%€78,914▼ 25.8%€108,779▲ 37.8%€113,464▲ 4.3%
Net result€69,564▲ 35.9%€73,845▲ 6.2%€55,574▼ 24.7%€78,873▲ 41.9%€80,252▲ 1.7%
Equity€364,390▲ 23.6%€438,235▲ 20.3%€506,209▲ 15.5%€585,082▲ 15.6%€665,334▲ 13.7%
Total assets€899,991▼ 4.9%€977,304▲ 8.6%€964,449▼ 1.3%€1.1m▲ 13.3%€1.0m▼ 5.6%
Debt€535,601▼ 17.8%€535,232▼ 0.1%€455,229▼ 14.9%€505,277▲ 11.0%€365,144▼ 27.7%
Working capital-€201,061▼ 26.2%-€242,995▼ 20.9%-€249,746▼ 2.8%-€284,638▼ 14.0%-€273,550▲ 3.9%
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 4% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.0m
Fixed assets
€1.0m ▼ 4.1%
Current assets
€3,468 ▼ 82.9%
Equity and liabilities €1.0m
Equity
€665,334 ▲ 13.7%
Provisions
€1,361 ▼ 37.7%
Debt
€365,144 ▼ 27.7%
Debt's share of the balance-sheet total falls from 46.2% to 35.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€157,321▲
2024 · €140,901
Cash flow
€124,109▲
2024 · €110,995
Current ratio
0.01▼
2024 · 0.07
Debt to equity
0.55▼
2024 · 0.86
ROE
12.1%▼
2024 · 13.5%
ROA
7.8%▲
2024 · 7.2%
Interest coverage
17.57▲
2024 · 17.10
Debt ≤ 1 year
€277,018▼
2024 · €304,955
Debt > 1 year
€86,422▼
2024 · €192,622
Income taxes
€25,124▲
2024 · €22,490
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,342 | €12,619 | €15,165 | €32,122 | €43,857 | ▲ 36.5% |
| Other operating charges640/8 | - | €7,731 | €8,602 | €8,092 | €4,409 | ▼ 45.5% |
| Gross operating margin9900 | €116,594 | €126,673 | €102,681 | €148,993 | €161,730 | ▲ 8.5% |
| Operating profit (loss)9901 | €102,020 | €106,323 | €78,914 | €108,779 | €113,464 | ▲ 4.3% |
| Financial income75/76B | - | - | - | - | €42 | - |
| Recurring financial income75 | - | - | - | - | €42 | - |
| Financial charges65/66B | - | €9,297 | €6,995 | €8,241 | €8,956 | ▲ 8.7% |
| Recurring financial charges65 | €11,580 | €9,297 | €6,995 | €8,241 | €8,956 | ▲ 8.7% |
| Profit (loss) for the period before taxes9903 | €90,440 | €97,026 | €71,919 | €100,538 | €104,551 | ▲ 4.0% |
| Transfer from deferred taxes780 | - | €289 | €825 | €825 | €825 | = |
| Transfer to deferred taxes680 | - | €4,125 | - | - | - | - |
| Income taxes67/77 | €20,875 | €19,345 | €17,170 | €22,490 | €25,124 | ▲ 11.7% |
| Profit (loss) for the period9904 | €69,564 | €73,845 | €55,574 | €78,873 | €80,252 | ▲ 1.7% |
| Transfer from tax-exempt reserves789 | - | €868 | €2,475 | €2,475 | €2,475 | = |
| Transfer to tax-exempt reserves689 | - | €12,375 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €69,564 | €62,338 | €58,049 | €81,348 | €82,727 | ▲ 1.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €899,991 | €977,304 | €964,449 | €1.1m | €1.0m | ▼ 5.6% |
| Fixed assets21/28 | €899,467 | €957,072 | €943,511 | €1.1m | €1.0m | ▼ 4.1% |
| Tangible fixed assets22/27 | €7,694 | €65,299 | €51,738 | €180,455 | €136,598 | ▼ 24.3% |
| Furniture and vehicles24 | - | €65,299 | €51,738 | €180,455 | €136,598 | ▼ 24.3% |
| Financial fixed assets28 | €891,773 | €891,773 | €891,773 | €891,773 | €891,773 | = |
| Current assets29/58 | €524 | €20,231 | €20,938 | €20,317 | €3,468 | ▼ 82.9% |
| Amounts receivable within one year40/41 | €28 | €14 | - | €9,554 | - | - |
| Trade receivables40 | - | - | - | €9,554 | - | - |
| Other amounts receivable41 | - | €14 | - | - | - | - |
| Cash at bank and in hand54/58 | €333 | €20,050 | €13,644 | €4,214 | - | - |
| Deferred charges and accrued income490/1 | - | €167 | €7,294 | €6,549 | €3,468 | ▼ 47.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €899,991 | €977,304 | €964,449 | €1.1m | €1.0m | ▼ 5.6% |
| Equity10/15 | €364,390 | €438,235 | €506,209 | €585,082 | €665,334 | ▲ 13.7% |
| Contributions10/11 | - | €6,200 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €13,367 | €10,892 | €8,417 | €5,942 | ▼ 29.4% |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Tax-exempt reserves132 | - | €11,507 | €9,032 | €6,557 | €4,082 | ▼ 37.7% |
| Profit (loss) carried forward14 | €356,330 | €418,668 | €476,717 | €558,065 | €640,792 | ▲ 14.8% |
| Provisions and deferred taxes16 | - | €3,836 | €3,011 | €2,186 | €1,361 | ▼ 37.7% |
| Deferred taxes168 | - | €3,836 | €3,011 | €2,186 | €1,361 | ▼ 37.7% |
| Amounts payable17/49 | €535,601 | €535,232 | €455,229 | €505,277 | €365,144 | ▼ 27.7% |
| Amounts payable after more than one year17 | €333,599 | €271,333 | €182,792 | €192,622 | €86,422 | ▼ 55.1% |
| Financial debts170/4 | - | €271,333 | €182,792 | €192,622 | €86,422 | ▼ 55.1% |
| Amounts payable within one year42/48 | €201,585 | €263,226 | €270,684 | €304,955 | €277,018 | ▼ 9.2% |
| Current portion of amounts payable after more than one year42 | - | €127,900 | €88,541 | €106,200 | €111,180 | ▲ 4.7% |
| Financial debts43 | - | €18 | €26 | €26 | €328 | ▲ 1,162% |
| Credit institutions430/8 | - | €18 | €26 | €26 | €328 | ▲ 1,162% |
| Trade debts44 | €8,217 | €2,844 | €9,308 | €43,923 | €18,870 | ▼ 57.0% |
| Suppliers440/4 | - | €2,844 | €9,308 | €43,923 | €18,870 | ▼ 57.0% |
| Taxes, remuneration and social security45 | - | €51,257 | €64,851 | €46,537 | €76,865 | ▲ 65.2% |
| Taxes450/3 | - | €51,257 | €64,851 | €46,537 | €76,865 | ▲ 65.2% |
| Other amounts payable47/48 | - | €81,208 | €107,958 | €108,268 | €69,774 | ▼ 35.6% |
| Accrued charges and deferred income492/3 | - | €673 | €1,752 | €7,701 | €1,705 | ▼ 77.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €69,564 | €73,845 | €55,574 | €78,873 | €80,252 | ▲ 1.7% |
| + Depreciation and write-downs630 | €9,342 | €12,619 | €15,165 | €32,122 | €43,857 | ▲ 36.5% |
| Operating cash flow (approximation) | €78,907 | €86,464 | €70,739 | €110,995 | €124,109 | ▲ 11.8% |
| Investment in fixed assets (approximation) | - | -€70,225 | -€1,603 | -€160,839 | €0 | ▲ 100% |
| Change in cash | - | €19,717 | -€6,406 | -€9,430 | - | - |
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
2025
14-10
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2024
30-10
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2023
24-10
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
31-03
Financial
Equity above €500,000Eq €506,209 ▲15.5%
5 profitable years in a row build equity to €506,209.
2022
28-10
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2021
21-10
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2020
28-10
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
31-03
Financial
Weakest financial yearnet €51,170 ▼56.9%
Net result drops to €51,170, the lowest in the series; recovery starts the following year.
2019
22-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
22-10
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2017
21-11
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 21 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
2 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, Leuze-en-Hainaut · 1 establishment unit since 2015
Ground area
3,790 m²
Building footprint
200 m²
Volume, LiDAR
1,436 m³
Parcel 57020B0983/00F000, Wallonia · tallest building 9.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Rue de Wattines(C.W.) 15, 7903 Leuze-en-Hainaut
since 20152.243.297.026
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 57020B0983/00F000 | Wallonia | 3,790 m² | 1 · 200 m² | 9.3 m · 2 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.
Similar companies · same sector, comparable size
PASSIE VOOR MARKETING
BE 0841.173.409
Aalst · Eq €665,384
DAVID VANDERMEULEN
BE 0761.768.219
Deinze · Eq €665,226
CIC Management
BE 0689.823.517
Tinlot · Eq €665,445
BEMABI
BE 0774.578.751
Bilzen-Hoeselt · Eq €665,674
GMP CARE CONSULT
BE 0887.443.793
Liège · Eq €665,695
Of 82,632 companies in sector 70200 we hold annual accounts for 52,587. 32,083 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
Founded22-06-2015
Fiscal year end31-03
Activities, NACEBEL 2025
70200Business and other management consultancy
82990Other business support services
Scores and ratios are computed by Checked and are not a credit decision.