DEMAR

Active

Public limited companyfounded 198837 yrs activeVismarkt 3, 3500 Hasselt, BelgiumKBO/BCE: BE 0436.333.615

Summary

DEMAR has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €484,094 and a net result of €37,247. Equity is growing by ~10.3% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.5% (very low).

Risk analysis Watch Report Compare

DEMARActiveChecked score 76/100

Risk analysis Report Compare

Checked score

Score 2025

76 / 100

Excellent

Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability76=

Solvency100▲+7

Growth52=

Track record100

Bankruptcy probability, 12 months

0.5% Very low

0%0.5%1.5%4%10%≥ 25%

Credit up to €35,000 at 30 days acceptable

Liquidity short (current ratio 0.09 against 0.06 in 2024; short-term debt: 21.7% and cash: 1.5% of total assets), and 24.7% of the assets are financed with debt.

Credit check for your own amount and term

Show the recommended maximum : and see how the verdict changes with amount, term and advance.

Signals

Five signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

No NACE activity registered

No NACE activity is registered in the KBO, which is more common among companies that later fail.

KBO · activities

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Annual accounts: healthy financial profile

The latest annual accounts show a healthy profile in solvency, result and liquidity.

NBB · annual accounts 2025

Solvency, return and age of the figures

Solvency

75.3%

Return on assets

5.8%

Age of the figures

9 mo

Lower-risk legal form

Companies with this legal form statistically fail less often than a BV.

KBO · legal form

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 02-06-2026, 59 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

59 d early

2024

56 d early

2023

57 d early

2022

60 d early

2021

34 d early

2020

58 d early

2019

45 d late

← before the deadline after the deadline →

tick = median of all Belgian filings

This company filed its last 7 accounts on average 40 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.

Checked, nothing found (2)

The next deadline is still running

The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 5 June (5 of the last 5 filed years within 30 days of that day).

Companies Code · seven months

Position in the running window

28-09-2026 today31-12-2026 close31-07-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

History

On 22 December 1988, DEMAR was incorporated.¹ Total assets went from EUR 1.1 million in 2018 to EUR 642,854 in 2025.²

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Investigating this company? Keep it with today's facts in a case file.

Financials · fiscal year 2025, micro schema

Equity

€484,094▲ 8.3%

2024 · €446,847

Total assets

€642,854▼ 2.0%

2024 · €656,239

Net result

€37,247▲ 1.3%

2024 · €36,769

Working capital

-€127,138▲ 24.9%

2024 · -€169,327

Trend over the years

Chart Table

Click a name to add, emphasise or remove a line.

Every figure with its change against the fiscal year before

favourable unfavourable

Line20212022202320242025

Operating result€52,868▼ 30.9%€62,804▲ 18.8%€63,704▲ 1.4%€65,019▲ 2.1%€64,221▼ 1.2%

Net result€28,271▼ 35.9%€37,163▲ 31.5%€37,395▲ 0.6%€36,769▼ 1.7%€37,247▲ 1.3%

Equity€335,520▲ 9.2%€372,683▲ 11.1%€410,078▲ 10.0%€446,847▲ 9.0%€484,094▲ 8.3%

Total assets€698,954▼ 21.8%€682,075▼ 2.4%€675,724▼ 0.9%€656,239▼ 2.9%€642,854▼ 2.0%

Debt€363,434▼ 38.0%€309,391▼ 14.9%€265,646▼ 14.1%€209,392▼ 21.2%€158,759▼ 24.2%

Working capital-€60,431-€60,901▼ 0.8%-€48,646▲ 20.1%-€169,327▼ 248%-€127,138▲ 24.9%

Turnover and EBIT margin not published: the micro schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result falls in 2025; 2025 is 1% below 2024.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €642,854

98.1%

Fixed assets €630,670 ▼ 2.2%

Current assets €12,184 ▲ 9.6%

Equity and liabilities €642,854

75.3%

24.7%

Equity €484,094 ▲ 8.3%

Debt €158,759 ▼ 24.2%

Debt's share of the balance-sheet total falls from 31.9% to 24.7%. Equity is higher and debt is lower.

Key figures and ratios

2025 value · change against 2024

EBITDA

€80,701▼

2024 · €81,346

Cash flow

€53,727▲

2024 · €53,095

Current ratio

0.09▲

2024 · 0.06

Debt to equity

0.33▼

2024 · 0.47

ROE

7.7%▼

2024 · 8.2%

ROA

5.8%▲

2024 · 5.6%

Interest coverage

8.53▲

2024 · 7.38

Debt ≤ 1 year

€139,321▼

2024 · €180,442

Debt > 1 year

€10,695▼

2024 · €19,532

Income taxes

€17,535▲

2024 · €17,256

Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Annual accounts

OverviewIncome statement Balance sheet Cash flow

Filed annual accounts As filed with the NBB · 2025 against 2024 · 45 lines

Balance sheet Code20242025

Assets

Total assets20/58€656,239€642,854▼

Fixed assets21/28€645,123€630,670▼

Tangible fixed assets22/27€645,123€630,670▼

Land and buildings22€645,123€630,670▼

Current assets29/58€11,116€12,184▲

Amounts receivable within one year40/41€1,090-

Trade receivables40€1,090-

Cash at bank and in hand54/58€5,675€9,819▲

Deferred charges and accrued income490/1€4,351€2,364▼

Equity and liabilities

Total equity and liabilities10/49€656,239€642,854▼

Equity10/15€446,847€484,094▲

Contributions10/11€185,920€185,920=

Capital10€185,920€185,920=

Issued capital100€185,920€185,920=

Reserves13€260,927€298,174▲

Non-distributable reserves130/1€18,592€18,592=

Legal reserve130€18,592€18,592=

Distributable reserves133€242,335€279,582▲

Amounts payable17/49€209,392€158,759▼

Amounts payable after more than one year17€19,532€10,695▼

Financial debts170/4€8,837-

Other amounts payable178/9€10,695€10,695=

Amounts payable within one year42/48€180,442€139,321▼

Current portion of amounts payable after more than one year42€52,556€8,837▼

Trade debts44€4,813€3,025▼

Suppliers440/4€4,813€3,025▼

Taxes, remuneration and social security45€2,256€4,784▲

Taxes450/3€2,256€4,784▲

Other amounts payable47/48€120,818€122,675▲

Accrued charges and deferred income492/3€9,418€8,743▼

Income statement Code20242025

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€16,326€16,480▲

Other operating charges640/8€11,956€10,681▼

Gross operating margin9900€93,302€91,382▼

Operating profit (loss)9901€65,019€64,221▼

Financial income75/76B€21€22▲

Recurring financial income75€21€22▲

Financial charges65/66B€11,017€9,459▼

Recurring financial charges65€11,017€9,459▼

Profit (loss) for the period before taxes9903€54,024€54,783▲

Income taxes67/77€17,256€17,535▲

Profit (loss) for the period9904€36,769€37,247▲

Profit (loss) for the period to be appropriated9905€36,769€37,247▲

Appropriation of the result

Profit (loss) to be appropriated9906€36,769€37,247▲

Transfer to equity691/2€36,769€37,247▲

To other reserves6921€36,769€37,247▲

The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line	2021	2022	2023	2024	2025	Change
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630	€16,469	€15,950	€16,304	€16,326	€16,480	▲ 0.9%
Other operating charges640/8	€8,875	€9,091	€9,928	€11,956	€10,681	▼ 10.7%
Gross operating margin9900	€78,212	€87,844	€89,936	€93,302	€91,382	▼ 2.1%
Operating profit (loss)9901	€52,868	€62,804	€63,704	€65,019	€64,221	▼ 1.2%
Financial income75/76B	-	€543	€1	€21	€22	▲ 0.6%
Recurring financial income75	-	€543	€1	€21	€22	▲ 0.6%
Financial charges65/66B	€11,006	€8,589	€8,790	€11,017	€9,459	▼ 14.1%
Recurring financial charges65	€11,006	€8,589	€8,790	€11,017	€9,459	▼ 14.1%
Profit (loss) for the period before taxes9903	€41,861	€54,758	€54,915	€54,024	€54,783	▲ 1.4%
Income taxes67/77	€13,591	€17,595	€17,520	€17,256	€17,535	▲ 1.6%
Profit (loss) for the period9904	€28,271	€37,163	€37,395	€36,769	€37,247	▲ 1.3%
Profit (loss) for the period to be appropriated9905	€28,271	€37,163	€37,395	€36,769	€37,247	▲ 1.3%

Line	2021	2022	2023	2024	2025	Change
Assets
Total assets20/58	€698,954	€682,075	€675,724	€656,239	€642,854	▼ 2.0%
Fixed assets21/28	€686,673	€673,909	€657,606	€645,123	€630,670	▼ 2.2%
Tangible fixed assets22/27	€686,673	€673,909	€657,606	€645,123	€630,670	▼ 2.2%
Land and buildings22	€686,673	€673,909	€657,606	€645,123	€630,670	▼ 2.2%
Current assets29/58	€12,282	€8,165	€18,118	€11,116	€12,184	▲ 9.6%
Amounts receivable after more than one year29	€1,063	-	-	-	-	-
Other amounts receivable291	€1,063	-	-	-	-	-
Amounts receivable within one year40/41	€4,719	€4,369	€3,883	€1,090	-	-
Trade receivables40	€4,719	€4,369	€3,883	€1,090	-	-
Cash at bank and in hand54/58	€3,657	€3,796	€12,437	€5,675	€9,819	▲ 73.0%
Deferred charges and accrued income490/1	€2,842	-	€1,798	€4,351	€2,364	▼ 45.7%
Equity and liabilities
Total equity and liabilities10/49	€698,954	€682,075	€675,724	€656,239	€642,854	▼ 2.0%
Equity10/15	€335,520	€372,683	€410,078	€446,847	€484,094	▲ 8.3%
Contributions10/11	€185,920	€185,920	€185,920	€185,920	€185,920	=
Capital10	€185,920	€185,920	€185,920	€185,920	€185,920	=
Issued capital100	€185,920	€185,920	€185,920	€185,920	€185,920	=
Reserves13	€149,600	€186,763	€224,158	€260,927	€298,174	▲ 14.3%
Non-distributable reserves130/1	€18,592	€18,592	€18,592	€18,592	€18,592	=
Legal reserve130	€18,592	€18,592	€18,592	€18,592	€18,592	=
Distributable reserves133	€131,008	€168,171	€205,566	€242,335	€279,582	▲ 15.4%
Amounts payable17/49	€363,434	€309,391	€265,646	€209,392	€158,759	▼ 24.2%
Amounts payable after more than one year17	€283,053	€233,086	€186,130	€19,532	€10,695	▼ 45.2%
Financial debts170/4	€274,002	€225,991	€175,435	€8,837	-	-
Advances received on contracts in progress176	€1,956	-	-	-	-	-
Other amounts payable178/9	€7,095	€7,095	€10,695	€10,695	€10,695	=
Amounts payable within one year42/48	€72,713	€69,066	€66,764	€180,442	€139,321	▼ 22.8%
Current portion of amounts payable after more than one year42	€50,223	€50,989	€51,767	€52,556	€8,837	▼ 83.2%
Trade debts44	€1,650	€1,865	€4,886	€4,813	€3,025	▼ 37.1%
Suppliers440/4	€1,650	€1,865	€4,886	€4,813	€3,025	▼ 37.1%
Advances received on contracts in progress46	€140	-	-	-	-	-
Taxes, remuneration and social security45	€20,700	€16,212	€10,112	€2,256	€4,784	▲ 112%
Taxes450/3	€20,700	€16,212	€10,112	€2,256	€4,784	▲ 112%
Other amounts payable47/48	-	-	-	€120,818	€122,675	▲ 1.5%
Accrued charges and deferred income492/3	€7,669	€7,239	€12,752	€9,418	€8,743	▼ 7.2%

Line	2021	2022	2023	2024	2025	Change
Profit (loss) for the period9904	€28,271	€37,163	€37,395	€36,769	€37,247	▲ 1.3%
+ Depreciation and write-downs630	€16,469	€15,950	€16,304	€16,326	€16,480	▲ 0.9%
Operating cash flow (approximation)	€44,740	€53,113	€53,698	€53,095	€53,727	▲ 1.2%
Investment in fixed assets (approximation)	-	-€3,186	€0	-€3,844	-€2,027	▲ 47.3%
Change in cash	-	€139	€8,641	-€6,762	€4,144	▲ 161%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

Download as CSV

Timeline · acts, filings and financial milestones

All 13Financial 2Gazette 1Filings 10

Next filing, fiscal year 2026, expected by 31-07-2027

2026

10-07

State Gazette act Reappointments: André MARTENS, Danielle DEFLEM and 3 others

7 facts ▸

General meeting, 04-05-2026
Board meeting, 04-05-2026
Director reappointment, André MARTENS (director and managing director)
Director reappointment, Danielle DEFLEM (director)
Director reappointment, Koen MARTENS (director)
Director reappointment, Tim MARTENS (director)
Director reappointment, Jan MARTENS (director)

02-06

NBB filing Annual accounts filed

fiscal year 2025 · micro schema

2025

05-06

NBB filing Annual accounts filed

fiscal year 2024 · micro schema

2024

04-06

NBB filing Annual accounts filed

fiscal year 2023 · micro schema

2023

01-06

NBB filing Annual accounts filed

fiscal year 2022 · micro schema

2022

27-06

NBB filing Annual accounts filed

fiscal year 2021 · micro schema

2021

03-06

NBB filing Annual accounts filed

fiscal year 2020 · micro schema

2020

31-12

Financial Liquidity triplescurrent ratio 3.08

Current ratio from 0.94 to 3.08; short-term debt falls from €459,443 to €61,788.

14-09

NBB filing Annual accounts filed

fiscal year 2019 · micro schema · 45 days late

2019

31-12

Financial Weakest financial yearnet €10,488 ▼87.1%

Net result drops to €10,488, the lowest in the series; recovery starts the following year.

13-06

NBB filing Annual accounts filed

fiscal year 2018 · micro schema

2018

07-06

NBB filing Annual accounts filed

fiscal year 2017 · micro schema

2017

03-07

NBB filing Annual accounts filed

fiscal year 2016 · micro schema

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

1 of 7 acts read

About the unread acts

Of the 7 Belgian State Gazette acts we know for this company, 1 has been read. The other 6 have not been read yet: what they contain is neither established nor disproved here.

Have them read with priority Sign in to place this company at the front of the reading queue.

Directors · office · real estate

Directors

under verification, last change in 2026

This board is reconstructed from a single act (26088915). A Gazette act generally publishes only CHANGES, not a full roll call, so directors unchanged since then may be missing here. The KBO register holds the complete list of function holders.

Board 5

André MARTENS

Director and managing director · since 04-05-2026

Current

Danielle DEFLEM

Director · since 04-05-2026

Current

Jan MARTENS

Director · since 04-05-2026

Current

Koen MARTENS

Director · since 04-05-2026

Current

Tim MARTENS

Director · since 04-05-2026

Current

Day-to-day management 1

André MARTENS

Director and managing director · since 04-05-2026

Current

Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ. See the function holders in the CBE →

Not every act has been read: a resignation may be missing here

6 of this company's 7 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.

Location & real-estate footprint

Registered office, Hasselt · 1 establishment unit since 1990

seat establishment The establishment unit on the map

Ground area

728 m²

Building footprint

245 m²

Volume, LiDAR

3,500 m³

Parcel 71022H1471/00A000, Flanders · tallest building 18.4 m, ±5 floors. Linked by address, not a title deed.

4 companies at this address See who is registered here

1 establishment unit

DEMAR NV

Vismarkt 3, 3500 HasseltInsurance, reinsurance and pension funding, except compulsory social security

since 19902.041.702.619

1 parcel

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
71022H1471/00A000	Flanders	728 m²	1 · 245 m²	18.4 m · 5 fl.

Linked by address, not proof of ownership

Good to know

1 of 1 parcel with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Mandate history

5 people since 2026, 5 in office

All 5 In office 5

Board
Day-to-day management
began earlier

Mandates per person, with start and end dates
Name	Functions and periods
André MARTENS	Director and managing director, already before 04-05-2026 to date Director and managing director, already before 04-05-2026 to date
Danielle DEFLEM	Director, already before 04-05-2026 to date
Jan MARTENS	Director, already before 04-05-2026 to date
Koen MARTENS	Director, already before 04-05-2026 to date
Tim MARTENS	Director, already before 04-05-2026 to date

See the board, name and seat on a given date →

Articles of association

Who signs

Two directors jointly, or a managing director alone

according to the deed of 10-07-2026

Structure & network

Connections & network

5 current directors

Depth

The network starts from this company’s directors. Other companies they run appear here as nodes.

This company Company Director Shareholding +N: links not shown yet Click a node to look further, drag to arrange, scroll to zoom.

Identification & contact

Identification

Legal formPublic limited company

Founded22-12-1988

Fiscal year end31-12

E-invoicing

Reachable via Peppol

Peppol ID 0208:0436333615

Also 9925:BE0436333615

Registered 13-11-2025

If you follow this company, Checked tells you the day it leaves the Peppol register.

Scores and ratios are computed by Checked and are not a credit decision.