Summary
Conclusion
the dossier summarised in one paragraphThe computed 12-month bankruptcy probability of MATINAL is 6.6% (elevated). The 2024 annual accounts show negative equity (€-75k) and a net result of €-73k. Its solvency ranks better than 5% of 121 sector peers (fiscal year 2024). The company has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals.
Based on the State Gazette, CBE and 2 annual accounts.
Bankruptcy probability (12 mo)
Checked model v1 · free for everyone6.6%
Elevated
0%0,5%1,5%4%10%≥25%
Young company
+Higher-failure-rate region
+Annual accounts: weaker financial profile
+
Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?
Signals
1 signal · with evidenceNegative equity
Equity is negative for financial year 2024: liabilities exceed assets. This is the trigger point of the alarm-bell procedure (Belgian CAC).
View the annual accounts Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.
Trust signals
2 signalsMore than 3 years active
Founded in 2023, past the statistically most fragile first 3 years.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No administrative flags
Financials
Turnover€324k
EBIT margin-17.0%
Net result€-73k+40.8%
Working capital€41k+333.5%
Annual accounts & ratios
Source: NBB · 2024Annual accounts filed on 29-07-2025 with the NBB · fiscal year 2024 · volledig
Sector comparison
Fiscal year 2024 · NACE 10, Food manufacturing · compared within the same schema type (full schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | -18.4% | 28.8% | |
| Net result | €-73k | €25k | |
| Equity | €-75k | €397k | |
| Gross operating margin | €56k | €404k | |
| Staff costs | €84k | €518k |
Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.
€324k
-
23-24
€-29k
+71.2%
far below sector median
€-73k
+40.8%
far below sector median
€-47k
+56.4%
far below sector median
€408k
+16.8%
≈ vs sector
€-75k
-3855.8%
far below sector median
€41k
+333.5%
+15% vs sector
3
+127.3%
-14% vs sector
€84k
+115.0%
-26% vs sector
€483k
+37.5%
+160% vs sector
€79k
+63.5%
-48% vs sector
€397k
+34.2%
far above sector median
1.52
+26.9%
-36% vs sector
1.40
+37.2%
-31% vs sector
-18.4%
-3287.7%
far below sector median
-6.44
+96.5%
far below sector median
97.5%
-98.5%
far above sector median
-17.9%
+49.3%
far below sector median
-22.5%
-
23-24
-9.0%
-
23-24
-1.62
+89.1%
far below sector median
Figures by fiscal year
| Fiscal year | 2024 |
|---|---|
| Revenue | €324k |
| EBITDA | €-29k |
| Net profit | €-73k |
| Cash flow | €-47k |
| Staff costs | €84k |
| Income taxes | - |
| Dividends | - |
| Total assets | €408k |
| Equity | €-75k |
| Debt | €483k |
| of which ≤ 1y | €79k |
| of which > 1y | €397k |
| Working capital | €41k |
| Employees (FTE) | 2.5 |
Ratios (computed)
| 2024 | |
|---|---|
| Current ratio | 1.52 |
| Quick ratio | 1.40 |
| Working capital ratio | 10.0% |
| Solvency | -18.4% |
| Debt / equity | -6.44 |
| Long-term debt ratio | -5.29 |
| Interest coverage | -1.62 |
| Gross margin | 17.1% |
| Net margin | -22.5% |
| ROA | -17.9% |
| ROE | 97.5% |
| EBITDA margin | -9.0% |
| Days sales outstanding | 21d |
| Days payable outstanding | 96d |
| Inventory turnover | 30.13 |
| Days inventory (DSI) | 12d |
Balance-sheet composition 2024
Full annual accounts
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2024 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €408k |
| Fixed assets | 21/28 | €289k |
| Intangible fixed assets | 21 | €102k |
| Tangible fixed assets | 22/27 | €187k |
| Financial fixed assets | 28 | €167 |
| Current assets | 29/58 | €120k |
| Stocks & contracts in progress | 3 | €9k |
| Amounts receivable within one year | 40/41 | €65k |
| Cash & bank | 54/58 | €44k |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €408k |
| Equity | 10/15 | €-75k |
| Contributions / capital | 10/11 | €122k |
| Accumulated profits (losses) | 14 | €-197k |
| Amounts payable | 17/49 | €483k |
| Amounts payable after one year | 17 | €397k |
| Amounts payable within one year | 42/48 | €79k |
| Trade debts payable within one year | 44 | €71k |
| Income statement | ||
| Turnover | 70 | €324k |
| Gross operating margin | 9900 | €56k |
| Operating result | 9901 | €-55k |
| Financial charges | 65 | €18k |
| Result before taxes | 9903 | €-73k |
| Net result for the period | 9904 | €-73k |
| Result to be appropriated | 9905 | €-73k |
You're seeing the latest fiscal year only. Unlock 1 prior year (figures + ratios) with a paid plan.
See plans →
Ratios computed by Checked.
Health barometer
FY 2024 · computed35
/ 100
Weak
Computed from 6 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Unlock the full score breakdown, per-year score history and the indicative credit limit with Plus.
See plans →Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.
Directors
Directors & mandates
2 directorsCurrent directors & mandates
-
Current15-05-2026 → present
-
Deux L srlLegal entityDirector· perm. rep.: Yaël LLoretState Gazette act 25124082 (02-10-2025)Current02-10-2025 → present
Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.
Insolvency mandates
No insolvency mandates (liquidators, administrators) on record for this company.
Legal Structure
| NACE primary | Ambachtelijke vervaardiging van brood en van vers banketbakkerswerk(10712) |
| Legal form | Private limited company(610) |
| Incorporation | 23-03-2023 |
| Status | Active |
| Postal code | 1160 |
Structure & network
Locations & real estate
Establishment units
1 locationFranz Merjaystraat 6, 1050 Elsene
since 20232.343.845.543
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Parcels2
Ground area272 m²
Buildings2
Building footprint247 m²
Volume (LiDAR)2,478 m³
Tallest building18.5 m · ±4 fl.
Real-estate footprint
Source: CBE × cadastre · address linkingParcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21332B0026/00M002 | Brussels | 208 m² | 1 · 208 m² | 18.5 m · 4 fl. |
| 21447B0306/00X045 | Brussels | 64 m² | 1 · 39 m² | 11.5 m · 2 fl. |
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.
Publications
Lifecycle & Insolvency Signals
No insolvency signals in the Belgian State Gazette
Belgisch Staatsblad · acts
3 acts All acts · 3
updated 2 months ago
2026
15-05-2026 Officer resignation · Power of attorney · Act object
- Filing: 2026-05-07 · MATINAL
- Publication: 2026-05-15 · MATINAL
- Officer resignation: role: administrateur, decision_date: 2026-02-12, effective_date: 2026-02-11 · Régis Recour
- Power of attorney: role: Mandataire spécial · Maceo Luntumbue
- Act object: Démission d'un administrateur
Summary:
Officer resignation · Power of attorney · Act object
2025
02-10-2025 Yaël LLoret appointed as director
2023
27-03-2023 Incorporation of a new SRL
Summary:
oprichting
Analysis
Snowflake analysis
financial profile on 5 axes55
/ 100
Mixed profile: strong on stability, weaker on profitability.
All 5 axes are computed from data Checked has read.
Health
35
Profitability
33
Solvency
56
Growth
58
Stability
94
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Credit advice
verdict per customer and amountSimilar
Similar companies
Same sector, ranked by comparable sizeCompany registry
Company registry (CBE)
Crossroads BankActivities
Ambachtelijke vervaardiging van brood en van vers banketbakkerswerk10712Ambachtelijke vervaardiging van brood en van vers banketbakkerswerk10712Detailhandel in chocolade en suikerwerk in gespecialiseerde winkels47242Detailhandel in chocolade en suikerwerk47242Logistieke diensten52250Overige vervoerondersteunende activiteiten52290Catering56210Catering van evenementen56210Overige zakelijke dienstverlening, n.e.g.82990Overige zakelijke dienstverlening, neg82990Overige vormen van onderwijs85599Overige vormen van onderwijs85599
Primary activity highlighted.
Names & trade names
| Legal nameFR | MATINAL |
Registered office
Priorijdreef 25
1160 Oudergem, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.