MATHINA
ActiveSummary
MATHINA has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €312k and a net result of €614. Equity is growing by ~42.5% per year across the filed fiscal years. Its solvency ranks better than 52% of 8093 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
78
/ 100
Excellent
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability69▼-18
Solvency81▲+4
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €24k at 30 days acceptable
Liquidity ample (current ratio 3.59 against 2.87 in 2023; short-term debt: 10.4% and cash: 10.4% of total assets), and 43.8% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Three signals. The signal on the left, the evidence on the right.
−lowers 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
Sector 70
lower
← 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
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 26-08-2025, 26 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
26 d late
2023
49 d late
2022
24 d late
2021
19 d late
2020
81 d late
2019
11 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, abbreviated schema
Equity
€312k▲ 0.2%
2023 · €311k
2018: €-7k
2019: €15k
2020: €83k
2021: €150k
2022: €246k
2023: €311k
2018 → 2024
Total assets
€554k▼ 8.2%
2023 · €604k
2018: €745
2019: €20k
2020: €361k
2021: €439k
2022: €531k
2023: €604k
2018 → 2024
Net result
€614▼ 99.3%
2023 · €87k
2018: €-2k
2019: €21k
2020: €74k
2021: €87k
2022: €96k
2023: €87k
2018 → 2024
Working capital
€150k▲ 2.7%
2023 · €146k
2018: €-7k
2019: €14k
2020: €26k
2021: €60k
2022: €93k
2023: €146k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€83k-€150k▲ 81.1%€246k▲ 64.4%€311k▲ 26.6%€312k▲ 0.2%
Operating result€105k-€125k▲ 19.1%€141k▲ 13.2%€131k▼ 7.3%€15k▼ 88.4%
Net result€74k-€87k▲ 18.0%€96k▲ 10.7%€87k▼ 9.9%€614▼ 99.3%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2024 is 88% below 2023 and is the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €554k
Fixed assets
€347k ▼ 8.7%
Current assets
€208k ▼ 7.2%
Equity and liabilities €554k
Equity
€312k ▲ 0.2%
Debt
€243k ▼ 17.0%
Debt's share of the balance-sheet total falls from 48.5% to 43.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€44k▼
2023 · €156k
Cash flow
€29k▼
2023 · €111k
Current ratio
3.59▲
2023 · 2.87
Debt to equity
0.78▼
2023 · 0.94
ROE
0.2%▼
2023 · 27.9%
ROA
0.1%▼
2023 · 14.4%
Interest coverage
7.74▼
2023 · 33.54
Debt ≤ 1 year
€58k▼
2023 · €78k
Debt > 1 year
€185k▼
2023 · €215k
Income taxes
€9k▼
2023 · €40k
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 · 50 lines
Balance sheet
Code20232024
Assets
Total assets20/58€604k€554k▼
Fixed assets21/28€380k€347k▼
Tangible fixed assets22/27€380k€347k▼
Land and buildings22€278k€270k▼
Plant, machinery and equipment23€5k€3k▼
Furniture and vehicles24€24k€19k▼
Leasing and similar rights25€43k€29k▼
Other tangible fixed assets26€30k€26k▼
Current assets29/58€224k€208k▼
Amounts receivable within one year40/41€86k€78k▼
Other amounts receivable41€86k€78k▼
Cash at bank and in hand54/58€112k€58k▼
Deferred charges and accrued income490/1€27k€72k▲
Equity and liabilities
Total equity and liabilities10/49€604k€554k▼
Equity10/15€311k€312k▲
Contributions10/11€6k€6k=
Reserves13€305k€306k▲
Non-distributable reserves130/1€0-
Reserves not available under the articles1311€0-
Distributable reserves133€305k€306k▲
Profit (loss) carried forward14€0€0=
Amounts payable17/49€293k€243k▼
Amounts payable after more than one year17€215k€185k▼
Financial debts170/4€215k€185k▼
Amounts payable within one year42/48€78k€58k▼
Current portion of amounts payable after more than one year42€27k€26k▼
Trade debts44€21k€4k▼
Suppliers440/4€21k€4k▼
Taxes, remuneration and social security45€24k€28k▲
Taxes450/3€17k€22k▲
Remuneration and social security454/9€6k€5k▼
Other amounts payable47/48€6k€0▼
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€25k€29k▲
Other operating charges640/8€2k€4k▲
Gross operating margin9900€158k€48k▼
Operating profit (loss)9901€131k€15k▼
Financial income75/76B€0€104▲
Recurring financial income75€0€104▲
Financial charges65/66B€5k€6k▲
Recurring financial charges65€5k€6k▲
Profit (loss) for the period before taxes9903€126k€10k▼
Income taxes67/77€40k€9k▼
Profit (loss) for the period9904€87k€614▼
Profit (loss) for the period to be appropriated9905€87k€614▼
Appropriation of the result
Profit (loss) to be appropriated9906€87k€614▼
Transfer to equity691/2€65k€614▼
To other reserves6921€65k€614▼
Profit to be distributed694/7€21k€0▼
Return on contributions (dividend)694€21k€0▼
Social balance
Average headcount (FTE)9087-0.0
The notes to these accounts (14 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
26-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 26 days late
2024
18-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 49 days late
2023
24-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 24 days late
2022
31-12
Financial
Highest result since 2018net €96k ▲10.7%
Operating result €141k, net result €96k, both a record.
31-12
Financial
Equity above €200kEq €246k ▲64.4%
4 profitable years in a row build equity to €246k.
19-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 19 days late
2021
31-12
Financial
Equity above €100kEq €150k ▲81.1%
3 profitable years in a row build equity to €150k.
20-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 81 days late
2020
11-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 11 days late
2019
31-12
Financial
Back to profitnet €21k
Net result €21k after one loss-making year.
31-12
Financial
Liquidity times 129current ratio 3.74
Current ratio from 0.03 to 3.74; short-term debt falls from €7k to €5k.
28-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
Show earlier events
2018
03-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 34 days late
2017
06-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
29-09
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 60 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Aalter · 1 establishment unit since 2009
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.
Nevelestraat 289880 AalterGround area
1,343 m²
Building footprint
169 m²
Volume, LiDAR
901 m³
Parcel 44035B1288/00D000, Flanders · tallest building 8.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MATHINA
since 20092.183.121.095
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44035B1288/00D000 | Flanders | 1,343 m² | 1 · 169 m² | 8.3 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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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VS & C°
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ALINEAS SERVICES
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Of 82,562 companies in sector 70200 we hold annual accounts for 52,574. 37,922 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded25-11-2009
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
Sources
Crossroads Bank for EnterprisesNational Bank · 15 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.