ACTIVE

MATGECO

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Financial year 2025 · closed on 31/12/2025

Net result

653,4 k €

-28.3% YoY

Gross margin

1,3 M €

-9.7% YoY

Equity

3 M €

-3.1% YoY

Workforce

7,6 ETP

+28.8% YoY

What does MATGECO do?

MATGECO is a Public limited company incorporated in 2000. Its registered office is in Nivelles. It employs on average 7,6 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0472.214.014

Incorporation

28/06/2000

Legal form

Public limited company

Registered office

Rue Buisson-aux-Loups 10A
1400 Nivelles · WallonieSee on map

Contributed capital

62 000,00 €

Latest accounts

31/12/2025

Average workforce

7,6 ETP

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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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	1,3 M €	-9.7%	1,4 M €	+44.2%	999,6 k €	+16.3%	859,6 k €	-10.2%	957,2 k €	+2.0%	938,5 k €	+17.4%	799,4 k €	+31.5%	608 k €	+1.0%	602 k €	-22.1%	773 k €	-17.7%	939,7 k €	+13.5%	827,6 k €	+50.5%	549,9 k €	-6.0%	585,1 k €	+7.2%	545,9 k €	+25.3%	435,6 k €	-9.9%	483,6 k €	-11.3%	545,3 k €	+3.6%	526,4 k €	+35.5%	388,5 k €
EBITDA	808,3 k €	-26.7%	1,1 M €	+42.2%	775,9 k €	+26.2%	615 k €	-16.1%	733,1 k €	+3.4%	708,7 k €	+17.4%	603,5 k €	+32.7%	454,9 k €	+0.1%	454,5 k €	-27.6%	627,9 k €	-21.7%	801,5 k €	+14.0%	702,7 k €	+60.0%	439,2 k €	-6.6%	470,3 k €	+1.2%	464,7 k €	+33.6%	347,9 k €	-14.0%	404,3 k €	-5.3%	427 k €	+3.1%	414,4 k €	+52.5%	271,7 k €
Operating result	542,7 k €	-36.2%	851,2 k €	+40.8%	604,6 k €	+13.9%	530,8 k €	-19.4%	659 k €	+2.7%	641,6 k €	+17.6%	545,7 k €	+39.7%	390,8 k €	+0.2%	389,9 k €	-29.1%	550,2 k €	-24.7%	730,8 k €	+15.9%	630,8 k €	+68.2%	375 k €	-2.0%	382,6 k €	+4.6%	365,8 k €	+29.6%	282,3 k €	-16.3%	337,3 k €	-9.5%	372,5 k €	+6.6%	349,6 k €	+76.3%	198,3 k €
Net result	653,4 k €	-28.3%	911 k €	+9.6%	831,3 k €	+21.2%	685,7 k €	-3.8%	712,7 k €	-7.0%	766 k €	+45.5%	526,4 k €	+24.8%	421,7 k €	-6.1%	448,9 k €	+15.7%	387,9 k €	-10.3%	432,3 k €	-14.4%	505,2 k €	+47.9%	341,7 k €	-10.5%	381,8 k €	+18.3%	322,7 k €	-0.2%	323,4 k €	+18.9%	271,9 k €	+16.7%	233 k €	-10.4%	260,1 k €	+113%	121,9 k €
Balance sheet
Equity	3 M €	-3.1%	3,1 M €	+15.3%	2,7 M €	+14.0%	2,4 M €	+13.8%	2,1 M €	+8.5%	1,9 M €	+23.7%	1,5 M €	+26.7%	1,2 M €	+11.1%	1,1 M €	+4.7%	1 M €	-1.1%	1,1 M €	+3.1%	1 M €	+11.4%	924,2 k €	+4.7%	882,5 k €	+10.2%	800,7 k €	+2.9%	778 k €	+3.1%	754,7 k €	+3.0%	732,7 k €	-8.4%	799,7 k €	+46.0%	547,7 k €
Total assets	5,7 M €	-0.5%	5,7 M €	+7.9%	5,3 M €	+25.3%	4,2 M €	+22.3%	3,4 M €	+6.5%	3,2 M €	+29.7%	2,5 M €	+1.5%	2,5 M €	-1.4%	2,5 M €	+9.7%	2,3 M €	+7.9%	2,1 M €	+5.6%	2 M €	+5.4%	1,9 M €	-3.6%	2 M €	-4.2%	2 M €	+1.6%	2 M €	+1.7%	2 M €	-4.0%	2,1 M €	+9.7%	1,9 M €	+19.0%	1,6 M €
Cash	664,3 k €	+13.1%	587,4 k €	+32.2%	444,2 k €	-40.3%	744 k €	-10.6%	831,9 k €	+32.9%	626 k €	+724%	76 k €	-34.1%	115,3 k €	-25.0%	153,8 k €	+14.9%	133,8 k €	+10.7%	120,9 k €	+188%	41,9 k €	-61.1%	107,8 k €	-12.6%	123,4 k €	+64.0%	75,2 k €	-64.4%	211,3 k €	+187%	73,5 k €	-36.3%	115,4 k €	+137%	48,8 k €	+15.4%	42,2 k €
Debts	2,6 M €	+2.6%	2,6 M €	+0.1%	2,6 M €	+39.6%	1,8 M €	+35.3%	1,4 M €	+3.6%	1,3 M €	+39.6%	943,5 k €	-23.6%	1,2 M €	-11.3%	1,4 M €	+14.0%	1,2 M €	+17.2%	1 M €	+8.2%	963 k €	+12.9%	853,1 k €	-6.9%	916,4 k €	-6.9%	984,2 k €	+1.3%	971,1 k €	-0.7%	977,9 k €	+25.0%	782,4 k €	-11.3%	881,7 k €	+0.9%	874 k €
Other
Workforce	7,6 ETP	+28.8%	5,9 ETP	+68.6%	3,5 ETP	-18.6%	4,3 ETP	0.0%	4,3 ETP	0.0%	4,3 ETP	+30.3%	3,3 ETP	0.0%	3,3 ETP	+10.0%	3,0 ETP	0.0%	3,0 ETP	0.0%	3,0 ETP	+15.4%	2,6 ETP	+30.0%	2,0 ETP	-13.0%	2,3 ETP	+53.3%	1,5 ETP	0.0%	1,5 ETP	-21.1%	1,9 ETP	+26.7%	1,5 ETP	0.0%	1,5 ETP	0.0%	1,5 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 5 M€ and 10 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 11 ended

Active mandates

Yves de Baenst

Managing director · since 06 décembre 2023 · until 25 mai 2029

Active

Ended mandates

Yves de Baenst

Managing director · since 12 décembre 2023 · until 25 mai 2029

Ended

Philippine de Baenst

Director · since 25 mai 2018 · until 26 mai 2023

Ended

Philippine de Baenst

Director · since 25 mai 2018 · until 12 décembre 2023

Ended

Sabina DOR

Director · since 26 mai 2017 · until 31 décembre 2019

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged 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	22/06/2026	18/06/2025	09/08/2024	14/07/2023	05/07/2022	26/08/2021
General meeting	22/05/2026	23/05/2025	24/05/2024	26/05/2023	27/05/2022	28/05/2021
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

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	22/05/2026	22/06/2026	French	PDF
Abridged model	31/12/2024	23/05/2025	18/06/2025	French	PDF
Abridged model	31/12/2023	24/05/2024	09/08/2024	French	PDF
Abridged model	31/12/2022	26/05/2023	14/07/2023	French	PDF
Abridged model	31/12/2021	27/05/2022	05/07/2022	French	PDF
Abridged modelCorrection	31/12/2020	28/05/2021	26/08/2021	French	PDF
Abridged model	31/12/2020	28/05/2021	05/07/2021	French	PDF
Abridged model	31/12/2019	22/05/2020	11/08/2020	French	PDF
Abridged model	31/12/2018	24/05/2019	14/08/2019	French	PDF
Abridged model	31/12/2017	25/05/2018	05/06/2018	French	PDF
Abridged model	31/12/2016	26/05/2017	12/07/2017	French	PDF
Abridged model	31/12/2015	27/05/2016	18/06/2016	French	PDF
Abridged model	31/12/2014	22/05/2015	26/06/2015	French	PDF
Abridged model	31/12/2013	23/05/2014	22/06/2014	French	PDF
Abridged model	31/12/2012	24/05/2013	26/06/2013	French	PDF
Abridged model	31/12/2011	25/05/2012	07/07/2012	French	PDF
Abridged model	31/12/2010	27/05/2011	16/07/2011	French	PDF
Abridged model	31/12/2009	28/05/2010	24/06/2010	French	PDF
Abridged model	31/12/2008	19/06/2009	24/06/2009	French	PDF
Abridged model	31/12/2007	23/05/2008	03/07/2008	French	PDF
Abridged model	31/12/2006	25/05/2007	12/07/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 5 M€ and 10 M€

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 · 1 active · 11 ended

Active mandates

Yves de Baenst

Managing director · since 06 décembre 2023 · until 25 mai 2029

Active

Ended mandates

Yves de Baenst

Managing director · since 12 décembre 2023 · until 25 mai 2029

Ended

Philippine de Baenst

Director · since 25 mai 2018 · until 26 mai 2023

Ended

Philippine de Baenst

Director · since 25 mai 2018 · until 12 décembre 2023

Ended

Sabina DOR

Director · since 26 mai 2017 · until 31 décembre 2019

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates25/03/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates19/12/2023
DENOMINATION - ADRESSE AUTRE QUE SIEGE SOCIAL - OBJET - DEMISSIONS, NOMINATIONS
PDF
Mandates01/04/2021
DEMISSIONS, NOMINATIONS
PDF
Mandates19/07/2018
DEMISSIONS, NOMINATIONS
PDF
Mandates18/09/2017
DEMISSIONS, NOMINATIONS
PDF
Capital / shares06/01/2012
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - CAPITAL, ACTIONS
PDF
Mandates24/10/2006
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 2025653,4 k €↓
2024
Annual accounts 2024911 k €↑
2023
Annual accounts 2023831,3 k €↑
2023
Name changeMATGECO
2022
Annual accounts 2022685,7 k €↓
2021
Annual accounts 2021712,7 k €↓
2020
Annual accounts 2020766 k €↑
2019
Annual accounts 2019526,4 k €↑
2018
Annual accounts 2018421,7 k €↓
2017
Annual accounts 2017448,9 k €↑
2016
Annual accounts 2016387,9 k €↓
2015
Annual accounts 2015432,3 k €↓
2014
Annual accounts 2014505,2 k €↑
2013
Annual accounts 2013341,7 k €↓
2012
Annual accounts 2012381,8 k €↑
2011
Annual accounts 2011322,7 k €↓
2010
Annual accounts 2010323,4 k €↑
2009
Annual accounts 2009271,9 k €↑
2008
Annual accounts 2008233 k €↓
2007
Annual accounts 2007260,1 k €↑
2006
Annual accounts 2006121,9 k €
2006
Name changeSYDTECH
28/06/2000
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

MATGECO

Overview

What does MATGECO 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