Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Tight liquidity NBB
Cash and receivables cover 17 % of short-term debt in 2025; threshold 65 %.
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Shrinking team NBB
FTE fell two years in a row, from 115.9 to 83.8.
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Figures corrected NBB
Corrected annual account filed for 2023.
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Busy address KBO
26 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
MAATSCHAPPIJ TOT EXPLOITATIE VAN IMMOBILIEN from Waregem, company number BE0405580655, closed financial year 2025 with a result of € 131.7 million after tax. For that financial year MAATSCHAPPIJ TOT EXPLOITATIE VAN IMMOBILIEN recorded revenue of € 28.3 million and equity of € 327.2 million. Compared with financial year 2024, the result moved from € -25.1 million to € 131.7 million. Profitable, and profit is growing. The buffer is growing. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on July 27, 2026.
€ 327.2 million
▲ 12% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 131.7 million
▲ still € 25.1 million loss in 2024
Profit after tax over the fiscal year.
€ 10.2 million
▼ 15% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 97 million paid out
74 % of the profit went to the shareholders, mostly to MATEXI GROUP (100 % of the shares). That is where the money ends up.
People and assets in 2025
83.8
▼ 14.9 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 9.2 million
▼ 7% vs 2024
€ 109,700 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 118,184
▲ 84% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 652.1 million
▲ 12% vs 2024
€ 182.1 million is repaid this year. At this pace the long-term loan is gone in ≈ 3 years.
€ 6.8 million
▼ 1% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 96 days on average.
€ 2.8 million
▲ 58% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 35,252,149 | € 31,992,570 | € 29,207,829 | € 28,295,211 | ▼ 3% |
| Profit after taxes | € 16,731,431 | € 3,320,105 | € -25,069,924 | € 131,658,445 | ▲ € 156.7 million |
| Equity | € 314,262,867 | € 317,582,972 | € 292,513,048 | € 327,171,493 | ▲ 12% |
| Total debts | € 770,875,048 | € 743,883,657 | € 594,648,390 | € 783,200,953 | ▲ 32% |
| Cash | € 1,699,436 | € 14,500,402 | € 12,049,118 | € 10,219,946 | ▼ 15% |
| Land & buildings | € 4,343,133 | € 3,537,403 | € 3,370,154 | € 2,946,246 | ▼ 13% |
| Retained profit | € 291,262,867 | € 294,582,972 | € 269,513,048 | € 304,171,493 | ▲ 13% |
| Dividend | € 19,855,000 | € 0 | € 0 | € 97,000,000 | |
| Bank debt | € 743,184,966 | € 730,208,167 | € 584,527,365 | € 652,130,360 | ▲ 12% |
| Balance sheet total | € 1,085,163,915 | € 1,061,482,629 | € 896,820,438 | € 1,110,388,446 | ▲ 24% |
| Employees (FTE) | 124.3 | 115.9 | 98.7 | 83.8 | ▼ 14.9 |
Key figures of MAATSCHAPPIJ TOT EXPLOITATIE VAN IMMOBILIEN, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to MAATSCHAPPIJ TOT EXPLOITATIE VAN IMMOBILIEN?
What happened at MAATSCHAPPIJ TOT EXPLOITATIE VAN IMMOBILIEN in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- SdL ADVICE BV stepped down as director. NBB
- NG 53 Consult BV stepped down as director. NBB
- Nimmobo NV stepped down as director. NBB
- Godelieve Mostrey stepped down as director. NBB
- Vauban NV stepped down as director. NBB
- Brunim NV stepped down as director. NBB
- Dorebor BV stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 131.7 million. Source: NBB ↗
In short
From € 16.7 million profit in 2022 to € 131.7 million profit in 2025.
Paid € 116,690 in corporate taxes since 2022.
Best year ever: 2025, with € 131.7 million profit.
Paid out € 116.9 million in dividends to the owners in total.
A new publication or filing at MAATSCHAPPIJ TOT EXPLOITATIE VAN IMMOBILIEN? We notify you, reason included.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The stake of MATEXI GROUP comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
MAATSCHAPPIJ TOT EXPLOITATIE VAN IMMOBILIENThe shares are held by MATEXI GROUP (100%). It owns 100% of Beaulieu Properties II , 100% of Matexi Brussels, 100% of Permeke Development, 100% of Tradiplan, 100% of Matexi Projects and 100% of Immo B-Hive itself.
Directors
According to the 2025 annual accounts
Director · represented by Sonja Rottiers
Also active at: KINEPOLIS GROUP, MATEXI GROUP
since 2024 · until 2028
NG 53 Consult BV
Director · represented by Walter De Boer
since 2024 · until 2028
Director · represented by Bénédicte Vande Vyvere
Also active at: ABACUS GROUP, ABACUS INVEST, MATEXI GROUP, VAUBAN
since 2022 · until 2028
since 2024 · until 2028
Managing director · represented by Gaëtan Hannecart
Also active at: Louis Delhaize - Compagnie franco-belge d'Alimentation, FINANCIERE DE TUBIZE, Antwerp Tower, TRADIPLAN, Immo - Vilvo, Sibomat, ABACUS GROUP, GALERIE DES CARMES +44 more
since 2022 · until 2028
Director · represented by Bruno Vande Vyvere
Also active at: ABACUS GROUP, LOCAMPOAMOR TRES, ABACUS INVEST, MATEXI GROUP
since 2022 · until 2028
Director · represented by Karel Van Eetvelt
Also active at: Hill and Knowlton International Belgium, SYNTRA PROVINCIES ANTWERPEN EN VLAAMS - BRABANT, MATEXI GROUP
since 2024 · until 2028
Shareholders
100%
Participations
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
Matexi Luxembourg
100%
75%
73%
50%
50%
50%
33.3%
33.3%
Establishments
Establishment units
Physical locations of this company
Franklin Rooseveltlaan 180
8790 Waregem
Eedstraat 47
9810 Nazareth-De Pinte
Active since 1 January 1968
Brusselsesteenweg 146
1850 Grimbergen
Active since 1 January 1968
Grotesteenweg 214
2600 Antwerpen
Active since 1 January 2004
Broekermolenplein 2
3500 Hasselt
Active since 1 January 2008
Rue de Champles 50
1301 Wavre
Active since 1 November 2008
Visé-Voie 81 box 1
4000 Liège
Active since 30 June 2009
Rue du Berlaimont(FL) 1
6220 Fleurus
Active since 1 February 2010
Ravensteingalerij 4 box 9
1000 Brussel
Active since 1 January 2013
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 26 companies are registered at this address.
All companies at this address →Antwerp Tower same network
€ 51,569 gross margin · 2025
TRADIPLAN same network
€ -68,909 gross margin · 2025
DE BURKEL same network
€ -3,110 gross margin · 2024
GALERIE DES CARMES same network
€ -113,947 gross margin · 2025
HET SCHEPENHOF- LES JARDINS DE L'ECHEVINAGE same network
€ -5,651 gross margin · 2025
+21 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0405.580.655
- VAT number
- BE 0405.580.655
- Registered office
- Franklin Rooseveltlaan 180, 8790 Waregem
- Names & denominations
- MAATSCHAPPIJ TOT EXPLOITATIE VAN IMMOBILIEN · MATEXI
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 10 July 1945
- Peppol
- Active · Active since 1 Jan 2001
- Activities · NACE
Ontwikkeling van residentiële bouwprojecten
Projectontwikkeling voor woningbouw
Activiteiten van hoofdkantoren
Handel in eigen onroerend goed