MATHIMO
ActiveSummary
MATHIMO has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €41k and a net result of €14k. Equity is growing by ~28.6% per year across the filed fiscal years. Its solvency ranks better than 46% of 19356 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability80▲+10
Solvency51▲+7
Growth78=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2.5k at 30 days acceptable
Liquidity short (current ratio 0.91 against 0.76 in 2023; short-term debt: 73.8% and cash: 33% of total assets), and 73.8% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · 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
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
26.2%
Return on assets
9.1%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 20-06-2025, 41 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
not confirmed
2024
41 d early
2023
36 d early
2022
39 d early
2021
44 d early
2020
26 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€41k▲ 53.5%
2023 · €27k
2020: €12klowest in 5 years
2021: €21k▲ +74.1% vs 2020
2022: €25k▲ +16.6% vs 2021
2023: €27k▲ +6.6% vs 2022
2024: €41k▲ +53.5% vs 2023highest in 5 years
2020 → 2024
Total assets
€155k▲ 9.5%
2023 · €142k
2020: €101klowest in 5 years
2021: €146k▲ +44.7% vs 2020
2022: €141k▼ -3.4% vs 2021
2023: €142k▲ +0.5% vs 2022
2024: €155k▲ +9.5% vs 2023highest in 5 years
2020 → 2024
Net result
€14k▲ 769%
2023 · €2k
2020: €-133lowest in 5 years
2021: €9k▲ +6957% vs 2020
2022: €4k▼ -61.1% vs 2021
2023: €2k▼ -53.8% vs 2022
2024: €14k▲ +769% vs 2023highest in 5 years
2020 → 2024
Working capital
€-10k▲ 62.4%
2023 · €-27k
2020: €-18k
2021: €-52k▼ -191% vs 2020lowest in 5 years
2022: €-36k▲ +30.6% vs 2021
2023: €-27k▲ +24.6% vs 2022
2024: €-10k▲ +62.4% vs 2023highest in 5 years
2020 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€12k-€21k▲ 74.1%€25k▲ 16.6%€27k▲ 6.6%€41k▲ 53.5%
2020: €12klowest in 5 years
2021: €21k▲ +74.1% vs 2020
2022: €25k▲ +16.6% vs 2021
2023: €27k▲ +6.6% vs 2022
2024: €41k▲ +53.5% vs 2023highest in 5 years
Operating result€550-€12k▲ 2,093%€5k▼ 55.1%€3k▼ 40.7%€21k▲ 544%
2020: €550lowest in 5 years
2021: €12k▲ +2093% vs 2020
2022: €5k▼ -55.1% vs 2021
2023: €3k▼ -40.7% vs 2022
2024: €21k▲ +544% vs 2023highest in 5 years
Net result€-133-€9k€4k▼ 61.1%€2k▼ 53.8%€14k▲ 769%
2020: €-133lowest in 5 years
2021: €9k▲ +6957% vs 2020
2022: €4k▼ -61.1% vs 2021
2023: €2k▼ -53.8% vs 2022
2024: €14k▲ +769% vs 2023highest 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 recovers in 2024; 2024 is 544% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €155k
Fixed assets
€51k ▼ 5.2%
Current assets
€104k ▲ 18.5%
Equity and liabilities €155k
Equity
€41k ▲ 53.5%
Debt
€115k ▼ 0.6%
Debt's share of the balance-sheet total falls from 81.3% to 73.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€24k▲
2023 · €10k
Cash flow
€17k▲
2023 · €9k
Current ratio
0.91▲
2023 · 0.76
Debt to equity
2.81▼
2023 · 4.35
ROE
34.9%▲
2023 · 6.2%
ROA
9.1%▲
2023 · 1.2%
Interest coverage
138.28▲
2023 · 68.38
Debt ≤ 1 year
€115k▼
2023 · €115k
Income taxes
€7k▲
2023 · €1k
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 · 2024 against 2023 · 41 lines
Balance sheet
Code20232024
Assets
Total assets20/58€142k€155k▲
Fixed assets21/28€54k€51k▼
Tangible fixed assets22/27€3k-
Furniture and vehicles24€3k-
Financial fixed assets28€51k€51k=
Current assets29/58€88k€104k▲
Amounts receivable within one year40/41€37k€53k▲
Trade receivables40€17k€32k▲
Other amounts receivable41€20k€21k▲
Cash at bank and in hand54/58€51k€51k▲
Equity and liabilities
Total equity and liabilities10/49€142k€155k▲
Equity10/15€27k€41k▲
Contributions10/11€12k€12k=
Reserves13€13k€27k▲
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€12k€26k▲
Profit (loss) carried forward14€767€966▲
Amounts payable17/49€115k€115k▼
Amounts payable within one year42/48€115k€115k▼
Trade debts44€35€145▲
Suppliers440/4€35€145▲
Taxes, remuneration and social security45€5k€5k▼
Taxes450/3€5k€5k▼
Other amounts payable47/48€110k€110k▼
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€7k€3k▼
Other operating charges640/8€384€387▲
Gross operating margin9900€11k€24k▲
Operating profit (loss)9901€3k€21k▲
Financial income75/76B-€1k
Recurring financial income75-€1k
Financial charges65/66B€153€170▲
Recurring financial charges65€153€170▲
Profit (loss) for the period before taxes9903€3k€22k▲
Income taxes67/77€1k€7k▲
Profit (loss) for the period9904€2k€14k▲
Profit (loss) for the period to be appropriated9905€2k€14k▲
Appropriation of the result
Profit (loss) to be appropriated9906€2k€15k▲
Profit (loss) brought forward from the previous period14P€632€767▲
Transfer to equity691/2€2k€14k▲
To other reserves6921€2k€14k▲
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13k | €8k | €7k | €7k | €3k | ▼ 61.2% |
| Other operating charges640/8 | - | - | €348 | €384 | €387 | ▲ 0.8% |
| Gross operating margin9900 | €18k | €20k | €13k | €11k | €24k | ▲ 120% |
| Operating profit (loss)9901 | €550 | €12k | €5k | €3k | €21k | ▲ 544% |
| Financial income75/76B | - | - | €500 | - | €1k | - |
| Recurring financial income75 | €0 | - | €500 | - | €1k | - |
| Financial charges65/66B | - | €141 | €153 | €153 | €170 | ▲ 10.9% |
| Recurring financial charges65 | €3 | €141 | €153 | €153 | €170 | ▲ 10.9% |
| Profit (loss) for the period before taxes9903 | €547 | €12k | €6k | €3k | €22k | ▲ 604% |
| Income taxes67/77 | €680 | €3k | €2k | €1k | €7k | ▲ 415% |
| Profit (loss) for the period9904 | €-133 | €9k | €4k | €2k | €14k | ▲ 769% |
| Profit (loss) for the period to be appropriated9905 | €-133 | €9k | €4k | €2k | €14k | ▲ 769% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €101k | €146k | €141k | €142k | €155k | ▲ 9.5% |
| Fixed assets21/28 | €30k | €73k | €61k | €54k | €51k | ▼ 5.2% |
| Tangible fixed assets22/27 | €25k | €17k | €10k | €3k | - | - |
| Furniture and vehicles24 | - | €17k | €10k | €3k | - | - |
| Financial fixed assets28 | €5k | €56k | €51k | €51k | €51k | = |
| Current assets29/58 | €71k | €73k | €80k | €88k | €104k | ▲ 18.5% |
| Amounts receivable within one year40/41 | €47k | €24k | €37k | €37k | €53k | ▲ 42.0% |
| Trade receivables40 | - | €8k | €17k | €17k | €32k | ▲ 86.4% |
| Other amounts receivable41 | - | €16k | €20k | €20k | €21k | ▲ 3.4% |
| Cash at bank and in hand54/58 | €23k | €48k | €43k | €51k | €51k | ▲ 1.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €101k | €146k | €141k | €142k | €155k | ▲ 9.5% |
| Equity10/15 | €12k | €21k | €25k | €27k | €41k | ▲ 53.5% |
| Contributions10/11 | - | €12k | €12k | €12k | €12k | = |
| Reserves13 | - | €9k | €12k | €13k | €27k | ▲ 105% |
| Non-distributable reserves130/1 | - | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | - | €2k | €2k | €2k | €2k | = |
| Distributable reserves133 | - | €7k | €10k | €12k | €26k | ▲ 122% |
| Profit (loss) carried forward14 | €-133 | €94 | €632 | €767 | €966 | ▲ 26.0% |
| Amounts payable17/49 | €89k | €125k | €116k | €115k | €115k | ▼ 0.6% |
| Amounts payable within one year42/48 | €89k | €125k | €116k | €115k | €115k | ▼ 0.6% |
| Trade debts44 | €151 | €341 | €131 | €35 | €145 | ▲ 308% |
| Suppliers440/4 | - | €341 | €131 | €35 | €145 | ▲ 308% |
| Taxes, remuneration and social security45 | - | €15k | €6k | €5k | €5k | ▼ 11.4% |
| Taxes450/3 | - | €13k | €6k | €5k | €5k | ▼ 11.4% |
| Remuneration and social security454/9 | - | €2k | - | - | - | - |
| Other amounts payable47/48 | - | €109k | €110k | €110k | €110k | ▼ 0.2% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-133 | €9k | €4k | €2k | €14k | ▲ 769% |
| + Depreciation and write-downs630 | €13k | €8k | €7k | €7k | €3k | ▼ 61.2% |
| Operating cash flow (approximation) | €13k | €17k | €11k | €9k | €17k | ▲ 91.1% |
| Investment in fixed assets (approximation) | - | €-51k | €5k | €0 | €0 | - |
| Change in cash | - | €25k | €-6k | €8k | €619 | ▼ 92.2% |
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
20-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2020net €14k ▲769%
Operating result €21k, net result €14k, both a record.
25-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
22-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
17-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €9k
Net result €9k after one loss-making year.
05-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not 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
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, Zemst · 1 establishment unit since 2019
Ground area
303 m²
Building footprint
91 m²
Volume, LiDAR
543 m³
Parcel 23020B0032/00Y000, Flanders · tallest building 10.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MATHIMO
since 20192.287.582.276
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23020B0032/00Y000 | Flanders | 303 m² | 1 · 91 m² | 10.0 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
IGENIA by Steenhoudt
BE 0753.716.823
Zottegem · Eq €40,732
NOVA CASA
BE 0533.751.705
De Panne · Eq €40,721
PAND
BE 0627.931.775
Putte · Eq €40,720
DU MIDI
BE 0638.941.176
Essen · Eq €40,719
ETUCO
BE 0841.912.983
Le Roeulx · Eq €40,710
Of 9,693 companies in sector 68121 we hold annual accounts for 7,385. 4,842 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 (pre-2019)
Founded02-04-2019
Fiscal year end31-12
Activities, NACEBEL 2025
68121Development of residential building projects
70200Business and other management consultancy
71111Activities of building architects
Scores and ratios are computed by Checked and are not a credit decision.