ACTIVE

MF - MAT

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Financial year 2025 · closed on 31/12/2025

Net result

86,4 k €

+698.3% YoY

Gross margin

144,9 k €

+727.5% YoY

Equity

539,8 k €

+17.5% YoY

What does MF - MAT do?

MF - MAT is a Public limited company incorporated in 1992. Its registered office is in Huy.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0446.877.911

Incorporation

10/03/1992

Legal form

Public limited company

Registered office

Rue Sous-les-Roches 38
4500 Huy · WallonieSee on map

Contributed capital

62 000,00 €

Latest accounts

31/12/2025

Signals

ProfitableSolid equityLow riskPositive cashflowPositive EBITDA

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	144,9 k €	+727%	17,5 k €	-36.7%	27,7 k €	+180%	9,9 k €	+1925%	488,6 €	-84.7%	3,2 k €	-74.0%	12,3 k €	-96.8%	380,7 k €	+448%	69,5 k €	-13.5%	80,3 k €	+5.0%	76,5 k €	+7.7%	71 k €	+30.7%	54,4 k €	+13.0%	48,1 k €	+6.2%	45,3 k €	+21.6%	37,2 k €	+11.7%	33,3 k €	+9.9%	30,3 k €	+16.2%	26,1 k €	+6.2%	24,6 k €
EBITDA	140,8 k €	+896%	14,1 k €	-42.5%	24,6 k €	+223%	7,6 k €	+545%	-1,7 k €	-283%	932,8 €	-90.8%	10,2 k €	-97.2%	368,3 k €	+522%	59,2 k €	-15.7%	70,3 k €	+5.7%	66,5 k €	+6.8%	62,3 k €	+36.3%	45,7 k €	+14.1%	40,1 k €	+5.0%	38,2 k €	+26.2%	30,3 k €	+14.6%	26,4 k €	+9.4%	24,1 k €	-0.7%	24,3 k €	+31.4%	18,5 k €
Operating result	113,2 k €	+888%	-14,4 k €	-240%	-4,2 k €	+10.0%	-4,7 k €	+64.9%	-13,4 k €	-24.4%	-10,7 k €	-605%	-1,5 k €	-100%	356,6 k €	+840%	37,9 k €	-22.6%	49 k €	+8.4%	45,2 k €	+10.3%	41 k €	+18.4%	34,6 k €	+19.4%	29 k €	+7.0%	27,1 k €	+38.9%	19,5 k €	+6.5%	18,3 k €	-3.6%	19 k €	+1.5%	18,7 k €	+29.1%	14,5 k €
Net result	86,4 k €	+698%	-14,4 k €	-208%	-4,7 k €	+9.9%	-5,2 k €	+62.9%	-14 k €	-19.4%	-11,8 k €	-594%	-1,7 k €	-101%	245,2 k €	+1173%	19,3 k €	-22.5%	24,9 k €	+20.7%	20,6 k €	-2.6%	21,2 k €	+6.6%	19,8 k €	+35.1%	14,7 k €	+25.4%	11,7 k €	+1.4%	11,6 k €	+48.7%	7,8 k €	-14.7%	9,1 k €	+30.2%	7 k €	-12.9%	8 k €
Balance sheet
Equity	539,8 k €	+17.5%	459,6 k €	-3.0%	474 k €	-1.0%	478,7 k €	-1.1%	483,9 k €	-2.8%	497,9 k €	-2.3%	509,7 k €	-0.3%	511,4 k €	+92.1%	266,2 k €	+7.8%	246,9 k €	+11.2%	222,1 k €	+10.2%	201,5 k €	+11.7%	180,3 k €	+12.4%	160,5 k €	+10.1%	145,8 k €	+8.7%	134,1 k €	+9.4%	122,5 k €	+6.8%	114,7 k €	+8.6%	105,6 k €	+7.1%	98,6 k €
Total assets	653,8 k €	-2.8%	672,9 k €	+17.0%	574,9 k €	+17.9%	487,5 k €	-2.4%	499,3 k €	+0.2%	498 k €	-2.9%	512,8 k €	-2.7%	527,2 k €	-1.4%	534,5 k €	-3.1%	551,7 k €	-1.8%	562 k €	-4.9%	591,1 k €	+71.7%	344,2 k €	-2.4%	352,6 k €	-8.1%	383,6 k €	-1.1%	387,8 k €	+12.3%	345,4 k €	+40.9%	245,2 k €	-0.6%	246,6 k €	-0.8%	248,4 k €
Cash	72,7 k €	+726%	8,8 k €	-59.3%	21,6 k €	-89.0%	196,9 k €	-40.2%	329 k €	+4.0%	316,3 k €	-1.2%	320 k €	+7.0%	299,1 k €	+1129%	24,3 k €	+3.0%	23,6 k €	+87.2%	12,6 k €	-38.0%	20,4 k €	+165%	7,7 k €	+52.5%	5 k €	-49.3%	9,9 k €	+1.7%	9,8 k €	-19.5%	12,1 k €	-19.8%	15,1 k €	+32.8%	11,4 k €	+48.1%	7,7 k €
Debts	112,3 k €	-46.9%	211,6 k €	+110%	100,9 k €	+11705%	854,6 €	+755%	100 €	0.0%	100 €	-96.7%	3,1 k €	-80.5%	15,7 k €	-94.1%	268,3 k €	-12.0%	304,8 k €	-10.3%	340 k €	-12.7%	389,6 k €	+143%	160,4 k €	-14.7%	188,1 k €	-20.1%	235,3 k €	-6.3%	251,3 k €	+14.0%	220,4 k €	+69.0%	130,4 k €	-7.4%	140,9 k €	-5.9%	149,8 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 250 k€ and 500 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 20 ended

Active mandates

Fanny MUNTEN

Director

Active

Marie-Anne FORET

Managing director

Active

Ended mandates

Fanny MUNTEN

Director · since 27 décembre 2018 · until 08 mai 2024

Ended

Marie-Anne FORET

Managing director · since 27 décembre 2018 · until 08 mai 2024

Ended

Marc MUNTEN

Managing director · since 01 mai 2018 · until 27 décembre 2018

Ended

Marc MUNTEN

Managing director · since 08 janvier 2018 · until 08 mai 2024

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	15/06/2026	25/08/2025	05/08/2024	28/09/2023	20/06/2022	31/08/2021
General meeting	07/05/2026	01/05/2025	02/05/2024	04/05/2023	04/05/2022	05/05/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

34 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	07/05/2026	15/06/2026	French	PDF
Micro model	31/12/2024	01/05/2025	25/08/2025	French	PDF
Micro model	31/12/2023	02/05/2024	05/08/2024	French	PDF
Micro model	31/12/2022	04/05/2023	28/09/2023	French	PDF
Micro model	31/12/2021	04/05/2022	20/06/2022	French	PDF
Micro model	31/12/2020	05/05/2021	31/08/2021	French	PDF
Micro model	31/12/2019	06/05/2020	04/08/2020	French	PDF
Micro model	31/12/2018	01/05/2019	28/05/2019	French	PDF
Micro model	31/12/2017	02/05/2018	28/06/2018	French	PDF
Micro model	31/12/2016	02/05/2017	03/08/2017	French	PDF
Abridged model	31/12/2015	03/05/2016	23/07/2016	French	PDF
Abridged model	31/12/2014	05/05/2015	28/07/2015	French	PDF
Abridged model	31/12/2013	06/05/2014	28/07/2014	French	PDF
Abridged model	31/12/2012	07/05/2013	30/07/2013	French	PDF
Abridged model	31/12/2011	02/05/2012	09/07/2012	French	PDF
Abridged model	31/12/2010	03/05/2011	26/07/2011	French	PDF
Abridged model	31/12/2009	04/05/2010	28/07/2010	French	PDF
Abridged model	31/12/2008	02/05/2009	11/07/2009	French	PDF
Abridged model	31/12/2007	02/05/2008	24/07/2008	French	PDF
Abridged model	31/12/2006	04/05/2007	27/06/2007	French	PDF
Abridged model	31/12/2005	05/05/2006	03/07/2006	French	PDF
Abridged model	31/12/2004	06/05/2005	15/06/2005	French	PDF
Abridged model	31/12/2003	07/05/2004	25/06/2004	French	PDF
Abridged model	31/12/2002	02/05/2003	02/07/2003	French	PDF

View all 34 filings

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 250 k€ and 500 k€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 20 ended

Active mandates

Fanny MUNTEN

Director

Active

Marie-Anne FORET

Managing director

Active

Ended mandates

Fanny MUNTEN

Director · since 27 décembre 2018 · until 08 mai 2024

Ended

Marie-Anne FORET

Managing director · since 27 décembre 2018 · until 08 mai 2024

Ended

Marc MUNTEN

Managing director · since 01 mai 2018 · until 27 décembre 2018

Ended

Marc MUNTEN

Managing director · since 08 janvier 2018 · until 08 mai 2024

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates06/03/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates28/01/2019
DEMISSIONS, NOMINATIONS
PDF
Mandates19/01/2018
DEMISSIONS, NOMINATIONS
PDF
Mandates04/12/2009
SIEGE SOCIAL - CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates10/06/2008
DEMISSIONS, NOMINATIONS
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 202586,4 k €↑
2024
Annual accounts 2024-14,4 k €↓
2023
Annual accounts 2023-4,7 k €↑
2022
Annual accounts 2022-5,2 k €↑
2021
Annual accounts 2021-14 k €↓
2020
Annual accounts 2020-11,8 k €↓
2019
Annual accounts 2019-1,7 k €↓
2018
Annual accounts 2018245,2 k €↑
2017
Annual accounts 201719,3 k €↓
2016
Annual accounts 201624,9 k €↑
2015
Annual accounts 201520,6 k €↓
2014
Annual accounts 201421,2 k €↑
2013
Annual accounts 201319,8 k €↑
2012
Annual accounts 201214,7 k €↑
2011
Annual accounts 201111,7 k €↑
2010
Annual accounts 201011,6 k €↑
2009
Annual accounts 20097,8 k €↓
2008
Annual accounts 20089,1 k €↑
2007
Annual accounts 20077 k €↓
2006
Annual accounts 20068 k €
10/03/1992
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

MF - MAT

Overview

What does MF - MAT do?

Trend over 20 financial years

Indicative valuation

Board of directors

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline