ACTIVE

MATHIMO

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Financial year 2025 · closed on 31/12/2025

Net result

87,2 k €

+27.9% YoY

Gross margin

159,8 k €

+17.8% YoY

Equity

502,1 k €

+21.0% YoY

What does MATHIMO do?

MATHIMO is a Public limited company incorporated in 2003. Its registered office is in Liège.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0861.819.165

Incorporation

25/11/2003

Legal form

Public limited company

Registered office

Boulevard d'Avroy 47 box 051
4000 Liège · WallonieSee on map

Contributed capital

275 000,00 €

Latest accounts

31/12/2025

Signals

ProfitableSolid equityLow riskGood liquidityPositive 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	159,8 k €	+17.8%	135,7 k €	+139%	56,7 k €	-8.1%	61,8 k €	-4.3%	64,5 k €	-9.3%	71,2 k €	-16.7%	85,4 k €	+53.4%	55,7 k €	-7.4%	60,1 k €	-28.7%	84,3 k €	+2.5%	82,3 k €	+34.3%	61,3 k €	-14.4%	71,6 k €	-5.2%	75,5 k €	+46.4%	51,6 k €	+55.2%	33,2 k €	+3.9%	32,0 k €	+95.5%	16,4 k €	-6.5%	17,5 k €	-32.8%	26,0 k €
EBITDA	147,6 k €	+19.6%	123,4 k €	+179%	44,3 k €	-12.1%	50,4 k €	-5.6%	53,4 k €	-11.5%	60,3 k €	-18.1%	73,6 k €	+67.1%	44,1 k €	+34.0%	32,9 k €	-52.7%	69,6 k €	-2.7%	71,5 k €	+41.4%	50,6 k €	-16.9%	60,8 k €	-7.4%	65,7 k €	+56.6%	42,0 k €	+60.9%	26,1 k €	+6.2%	24,6 k €	+164%	9,3 k €	-13.5%	10,8 k €	-43.2%	18,9 k €
Operating result	113,7 k €	+25.5%	90,7 k €	+757%	10,6 k €	-46.0%	19,6 k €	-24.3%	25,9 k €	-20.4%	32,5 k €	-29.6%	46,1 k €	+209%	14,9 k €	+339%	-6,3 k €	-121%	30,5 k €	-6.4%	32,6 k €	+143%	13,4 k €	-33.6%	20,2 k €	-17.1%	24,4 k €	+1176%	1,9 k €	+130%	-6,4 k €	+15.9%	-7,7 k €	+66.1%	-22,6 k €	-122%	-10,2 k €	-8283%	-121,5 €
Net result	87,2 k €	+27.9%	68,2 k €	+793%	7,6 k €	-45.5%	14,0 k €	-25.4%	18,8 k €	-19.6%	23,3 k €	-36.5%	36,7 k €	+196%	12,4 k €	+224%	-10,0 k €	-139%	25,5 k €	-12.6%	29,1 k €	+394%	5,9 k €	-49.0%	11,6 k €	-21.2%	14,7 k €	+337%	-6,2 k €	+57.9%	-14,7 k €	+11.0%	-16,5 k €	+42.9%	-28,8 k €	-71.4%	-16,8 k €	-134%	-7,2 k €
Balance sheet
Equity	502,1 k €	+21.0%	414,9 k €	+19.7%	346,8 k €	+2.2%	339,1 k €	+4.3%	325,1 k €	+6.1%	306,4 k €	+8.2%	283,0 k €	+14.9%	246,3 k €	+5.3%	233,9 k €	-4.1%	243,9 k €	+11.7%	218,4 k €	+15.4%	189,3 k €	+3.2%	183,4 k €	+6.7%	171,8 k €	+9.3%	157,2 k €	+1449%	-11,6 k €	-487%	3,0 k €	-84.6%	19,5 k €	-59.7%	48,3 k €	-25.8%	65,1 k €
Total assets	592,9 k €	+15.9%	511,8 k €	+17.9%	434,2 k €	-7.4%	469,1 k €	-3.1%	484,3 k €	+1.0%	479,5 k €	-3.6%	497,4 k €	-1.8%	506,4 k €	-4.5%	530,1 k €	-5.1%	558,9 k €	-6.0%	594,8 k €	-3.1%	613,8 k €	-5.3%	648,0 k €	-6.4%	692,1 k €	-3.1%	713,9 k €	+37.5%	519,1 k €	-6.1%	552,7 k €	-6.2%	589,3 k €	+22.3%	481,9 k €	+3.3%	466,4 k €
Cash	163,4 k €	+209%	52,9 k €	+274%	14,1 k €	-69.6%	46,5 k €	-39.3%	76,6 k €	+50.9%	50,8 k €	+6.5%	47,7 k €	+737%	5,7 k €	+113%	2,7 k €	-41.0%	4,5 k €	-16.3%	5,4 k €	-4.1%	5,6 k €	+110%	2,7 k €	-51.7%	5,6 k €	-24.1%	7,3 k €	-2.5%	7,5 k €	-37.0%	11,9 k €	-42.5%	20,8 k €	+48.3%	14,0 k €	+64.0%	8,5 k €
Debts	70,8 k €	-7.2%	76,2 k €	-12.8%	87,5 k €	-27.5%	120,6 k €	-22.8%	156,3 k €	-8.2%	170,3 k €	-19.5%	211,4 k €	-18.3%	258,9 k €	-12.6%	296,3 k €	-5.9%	315,0 k €	-16.3%	376,4 k €	-11.3%	424,5 k €	-8.6%	464,6 k €	-10.6%	519,7 k €	-6.6%	556,8 k €	+4.9%	530,7 k €	-3.3%	549,1 k €	-3.6%	569,8 k €	+32.2%	430,9 k €	+7.7%	400,3 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 18 ended

Active mandates

Bernadette MOCKEL

Managing director · since 04 avril 2024 · until 04 avril 2030

Active

Carine QUINTENS

Director · since 04 avril 2024 · until 04 avril 2030

Active

Ended mandates

Carine QUINTENS

Director · since 16 avril 2004

Ended

Carine QUINTENS

Manager · since 16 avril 2004

Ended

CARINE QUINTENS

Mandate · since 16 avril 2004

Ended

CARINE, GERANTE QUINTENS

Manager · since 16 avril 2004

Ended

At this address

Other companies at this address

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AD ANESTHESIE● Active	1002.027.123
Association des Copropriétaires Résidence Ortos à Liège boulevard d'Avroy 47● Active	0858.360.126
DL P&T MANAGEMENT● Active	0767.403.424
HGE MOMBAERTS● Active	1016.256.429
M W Trans● Bankrupt	0683.664.116
SAID● Active	0891.709.122

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro 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	01/07/2026	22/08/2025	29/08/2024	28/08/2023	14/07/2022	23/08/2021
General meeting	01/06/2026	02/06/2025	03/06/2024	05/06/2023	06/06/2022	07/06/2021
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

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	01/06/2026	01/07/2026	French	PDF
Micro model	31/12/2024	02/06/2025	22/08/2025	French	PDF
Micro model	31/12/2023	03/06/2024	29/08/2024	French	PDF
Abridged model	31/12/2022	05/06/2023	28/08/2023	French	PDF
Abridged model	31/12/2021	06/06/2022	14/07/2022	French	PDF
Abridged model	31/12/2020	07/06/2021	23/08/2021	French	PDF
Abridged model	31/12/2019	01/07/2020	11/09/2020	French	PDF
Abridged model	31/12/2018	03/06/2019	27/08/2019	French	PDF
Abridged model	31/12/2017	04/06/2018	18/09/2018	French	PDF
Abridged model	31/12/2016	05/06/2017	28/08/2017	French	PDF
Abridged model	31/12/2015	06/06/2016	23/08/2016	French	PDF
Abridged model	31/12/2014	01/06/2015	26/08/2015	French	PDF
Abridged model	31/12/2013	02/06/2014	25/08/2014	French	PDF
Abridged model	31/12/2012	03/06/2013	23/08/2013	French	PDF
Abridged model	31/12/2011	04/06/2012	31/08/2012	French	PDF
Abridged model	31/12/2010	06/06/2011	17/08/2011	French	PDF
Abridged model	31/12/2009	07/06/2010	10/08/2010	French	PDF
Abridged model	31/12/2008	02/06/2009	11/08/2009	French	PDF
Abridged model	31/12/2007	02/06/2008	18/08/2008	French	PDF
Abridged model	31/12/2006	04/06/2007	09/08/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 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 · 2 active · 18 ended

Active mandates

Bernadette MOCKEL

Managing director · since 04 avril 2024 · until 04 avril 2030

Active

Carine QUINTENS

Director · since 04 avril 2024 · until 04 avril 2030

Active

Ended mandates

Carine QUINTENS

Director · since 16 avril 2004

Ended

Carine QUINTENS

Manager · since 16 avril 2004

Ended

CARINE QUINTENS

Mandate · since 16 avril 2004

Ended

CARINE, GERANTE QUINTENS

Manager · since 16 avril 2004

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates08/04/2024
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - DEMISSIONS, NOMINATIONS
PDF
Mandates02/08/2019
DEMISSIONS, NOMINATIONS
PDF
Mandates07/04/2011
CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Registered office22/03/2007
SIEGE SOCIAL
PDF
Mandates27/04/2004
DEMISSIONS, NOMINATIONS
PDF
Other03/12/2003
RUBRIQUE CONSTITUTION (NOUVELLE PERSONNE MORALE, OUVERTURE SUCCURSALE, ETC...)
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 202587,2 k €↑
2024
Annual accounts 202468,2 k €↑
2023
Annual accounts 20237,6 k €↓
2022
Annual accounts 202214,0 k €↓
2021
Annual accounts 202118,8 k €↓
2020
Annual accounts 202023,3 k €↓
2019
Annual accounts 201936,7 k €↑
2018
Annual accounts 201812,4 k €↑
2017
Annual accounts 2017-10,0 k €↓
2016
Annual accounts 201625,5 k €↓
2015
Annual accounts 201529,1 k €↑
2014
Annual accounts 20145,9 k €↓
2013
Annual accounts 201311,6 k €↓
2012
Annual accounts 201214,7 k €↑
2011
Annual accounts 2011-6,2 k €↑
2010
Annual accounts 2010-14,7 k €↑
2009
Annual accounts 2009-16,5 k €↑
2008
Annual accounts 2008-28,8 k €↓
2007
Annual accounts 2007-16,8 k €↓
2006
Annual accounts 2006-7,2 k €
25/11/2003
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

MATHIMO

Overview

What does MATHIMO do?

Trend over 20 financial years

Indicative valuation

Board of directors

Other companies at this address

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