IVAN MARTIN
ActiveSummary
IVAN MARTIN has been active since 1995 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €736,971 and a net result of €121,333. Equity is growing by ~23.1% per year across the filed fiscal years. Its solvency ranks better than 35% of 7940 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability75▼-1
Solvency57=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €45,000 at 30 days acceptable
Liquidity tight (current ratio 1.44 against 1.43 in 2024; short-term debt: 40.5% and cash: 1.5% of total assets), and 67.9% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
32.1%
Return on assets
5.3%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-06-2026, 31 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
31 d early
2024
43 d early
2023
27 d early
2022
42 d early
2021
34 d early
2020
33 d early
2019
35 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 35 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (2)
neutral · 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 27 June (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#8 company by total assets in Oupeye, Construction sector#9 company by equity in Oupeye, Construction sector
Turnover
€1.1m▼ 22.4%
2018 · €1.4m
EBIT margin
5.4%▼ 1.9pp
2018 · 7.3%
Net result
€121,333▲ 8.7%
2024 · €111,654
Working capital
€404,787▲ 48.8%
2024 · €272,034
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover
Operating result€52,878▼ 10.8%€121,385▲ 130%€183,803▲ 51.4%€181,523▼ 1.2%€202,210▲ 11.4%
Net result€45,012within the sector's middle half▲ 22.4%€83,862within the sector's middle half▲ 86.3%€125,474above the sector's middle half▲ 49.6%€111,654within the sector's middle half▼ 11.0%€121,333above the sector's middle half▲ 8.7%
EBIT margin
Equity€294,648within the sector's middle half▲ 18.0%€378,510within the sector's middle half▲ 28.5%€503,984within the sector's middle half▲ 33.1%€615,638within the sector's middle half▲ 22.2%€736,971above the sector's middle half▲ 19.7%
Total assets€1.5mwithin the sector's middle half▲ 178%€1.7mwithin the sector's middle half▲ 11.6%€2.0mabove the sector's middle half▲ 17.0%€1.9mwithin the sector's middle half▼ 3.8%€2.3mabove the sector's middle half▲ 19.2%
Debt€1.2m▲ 359%€1.3m▲ 13.1%€1.5m▲ 12.5%€1.3m▼ 12.5%€1.6m▲ 19.0%
Working capital€93,700within the sector's middle half▼ 65.7%€88,476within the sector's middle half▼ 5.6%€193,421within the sector's middle half▲ 119%€272,034within the sector's middle half▲ 40.6%€404,787within the sector's middle half▲ 48.8%
Solvency19.2%below the sector's middle half▼ 26.1pp22.1%within the sector's middle half▲ 2.9pp25.2%within the sector's middle half▲ 3.0pp31.9%within the sector's middle half▲ 6.8pp32.1%within the sector's middle half▲ 0.1pp
Current ratio1.21within the sector's middle half▼ 0.971.14within the sector's middle half▼ 0.071.23within the sector's middle half▲ 0.091.43within the sector's middle half▲ 0.191.44within the sector's middle half▲ 0.01
Return on assets (ROA)2.9%within the sector's middle half▼ 3.7pp4.9%within the sector's middle half▲ 2.0pp6.3%within the sector's middle half▲ 1.4pp5.8%within the sector's middle half▼ 0.5pp5.3%within the sector's middle half▼ 0.5pp
Staff (FTE)7.2within the sector's middle half▲ 53.2%8.8within the sector's middle half▲ 22.2%10.2within the sector's middle half▲ 15.9%10.2within the sector's middle half=10.5above the sector's middle half▲ 2.9%
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 11% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.3m
Fixed assets
€962,470 ▼ 5.4%
Current assets
€1.3m ▲ 46.7%
Equity and liabilities €2.3m
Equity
€736,971 ▲ 19.7%
Debt
€1.6m ▲ 19.0%
Debt's share of the balance-sheet total falls from 68.1% to 67.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€306,610▲
2024 · €275,700
Cash flow
€225,732▲
2024 · €205,830
Quick ratio
1.16▲
2024 · 1.02
Debt to equity
2.12▼
2024 · 2.13
ROE
16.5%▼
2024 · 18.1%
Interest coverage
7.11▼
2024 · 7.13
Debt ≤ 1 year
€930,197▲
2024 · €638,051
Debt > 1 year
€630,286▼
2024 · €673,483
Income taxes
€41,282▲
2024 · €32,590
Staff costs
€562,590▲
2024 · €451,595
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 20,134 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
4.7%
stopped otherwise
95%
still going
For this company itself Checked computes a higher bankruptcy probability: 0.6% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 20,134 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €20,352 | €3,361 | €3,256 | €4 | ▼ 99.9% |
| Goods, raw materials, services and sundry goods60/61 | €1.0m | - | - | - | - | - |
| Remuneration, social security and pensions62 | €325,754 | €397,985 | €444,765 | €451,595 | €562,590 | ▲ 24.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €12,919 | €66,483 | €73,078 | €94,176 | €104,399 | ▲ 10.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €23,400 | €0 | - | - |
| Other operating charges640/8 | €13,658 | €68,122 | €16,425 | €9,851 | €51,140 | ▲ 419% |
| Non-recurring operating charges66A | €63,104 | €10,861 | €24 | €3,748 | €5,704 | ▲ 52.2% |
| Gross operating margin9900 | €468,312 | €664,837 | €741,495 | €740,893 | €926,044 | ▲ 25.0% |
| Operating profit (loss)9901 | €52,878 | €121,385 | €183,803 | €181,523 | €202,210 | ▲ 11.4% |
| Financial income75/76B | €11,778 | €4,702 | €1,870 | €1,381 | €3,503 | ▲ 154% |
| Recurring financial income75 | €10,374 | €4,702 | €1,870 | €1,381 | €3,503 | ▲ 154% |
| Non-recurring financial income76B | €1,404 | - | - | - | - | - |
| Financial charges65/66B | €9,953 | €17,891 | €21,207 | €38,661 | €43,099 | ▲ 11.5% |
| Recurring financial charges65 | €9,953 | €17,891 | €21,207 | €38,661 | €43,099 | ▲ 11.5% |
| Profit (loss) for the period before taxes9903 | €54,703 | €108,196 | €164,466 | €144,244 | €162,615 | ▲ 12.7% |
| Income taxes67/77 | €9,691 | €24,334 | €38,992 | €32,590 | €41,282 | ▲ 26.7% |
| Profit (loss) for the period9904 | €45,012 | €83,862 | €125,474 | €111,654 | €121,333 | ▲ 8.7% |
| Profit (loss) for the period to be appropriated9905 | €45,012 | €83,862 | €125,474 | €111,654 | €121,333 | ▲ 8.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.5m | €1.7m | €2.0m | €1.9m | €2.3m | ▲ 19.2% |
| Fixed assets21/28 | €992,617 | €977,170 | €973,940 | €1.0m | €962,470 | ▼ 5.4% |
| Tangible fixed assets22/27 | €992,488 | €966,530 | €958,475 | €995,970 | €932,300 | ▼ 6.4% |
| Land and buildings22 | €965,333 | €929,656 | €902,138 | €855,835 | €803,481 | ▼ 6.1% |
| Plant, machinery and equipment23 | €13,082 | €21,981 | €24,861 | €41,881 | €31,129 | ▼ 25.7% |
| Furniture and vehicles24 | €14,073 | €14,892 | €31,476 | €96,293 | €95,730 | ▼ 0.6% |
| Assets under construction and advance payments27 | - | - | - | €1,960 | €1,960 | = |
| Financial fixed assets28 | €129 | €10,640 | €15,465 | €21,117 | €30,170 | ▲ 42.9% |
| Current assets29/58 | €540,340 | €733,838 | €1.0m | €910,085 | €1.3m | ▲ 46.7% |
| Stocks and contracts in progress3 | €64,536 | €134,506 | €206,719 | €257,776 | €251,756 | ▼ 2.3% |
| Stocks30/36 | €64,536 | €134,506 | €206,719 | €257,776 | €251,756 | ▼ 2.3% |
| Amounts receivable within one year40/41 | €465,682 | €556,298 | €782,089 | €544,778 | €1.0m | ▲ 90.4% |
| Trade receivables40 | €390,117 | €488,615 | €640,499 | €444,924 | €940,311 | ▲ 111% |
| Other amounts receivable41 | €75,565 | €67,683 | €141,591 | €99,853 | €97,048 | ▼ 2.8% |
| Current investments50/53 | €124 | €119 | €119 | €0 | - | - |
| Cash at bank and in hand54/58 | €5,300 | €35,410 | €32,439 | €101,877 | €34,886 | ▼ 65.8% |
| Deferred charges and accrued income490/1 | €4,698 | €7,505 | €7,257 | €5,654 | €10,984 | ▲ 94.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.5m | €1.7m | €2.0m | €1.9m | €2.3m | ▲ 19.2% |
| Equity10/15 | €294,648 | €378,510 | €503,984 | €615,638 | €736,971 | ▲ 19.7% |
| Contributions10/11 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Non-distributable reserves130/1 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Reserves not available under the articles1311 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Profit (loss) carried forward14 | €274,197 | €358,059 | €483,533 | €595,187 | €716,520 | ▲ 20.4% |
| Provisions and deferred taxes16 | €60,000 | €0 | - | - | - | - |
| Provisions for liabilities and charges160/5 | €60,000 | €0 | - | - | - | - |
| Environmental obligations163 | €60,000 | €0 | - | - | - | - |
| Amounts payable17/49 | €1.2m | €1.3m | €1.5m | €1.3m | €1.6m | ▲ 19.0% |
| Amounts payable after more than one year17 | €724,856 | €687,136 | €663,377 | €673,483 | €630,286 | ▼ 6.4% |
| Financial debts170/4 | €724,856 | €687,136 | €663,377 | €673,483 | €630,286 | ▼ 6.4% |
| Amounts payable within one year42/48 | €446,639 | €645,362 | €835,203 | €638,051 | €930,197 | ▲ 45.8% |
| Current portion of amounts payable after more than one year42 | €44,137 | €37,720 | €42,721 | €50,233 | €52,278 | ▲ 4.1% |
| Financial debts43 | - | €111,830 | €360,000 | €360,000 | €360,000 | = |
| Credit institutions430/8 | - | €111,830 | €360,000 | €360,000 | €360,000 | = |
| Trade debts44 | €269,726 | €421,259 | €408,484 | €193,350 | €490,712 | ▲ 154% |
| Suppliers440/4 | €269,726 | €421,259 | €408,484 | €193,350 | €490,712 | ▲ 154% |
| Taxes, remuneration and social security45 | €27,431 | €9,762 | €22,930 | €32,769 | €24,937 | ▼ 23.9% |
| Taxes450/3 | €4,038 | €0 | - | €3,550 | €3,200 | ▼ 9.9% |
| Remuneration and social security454/9 | €23,393 | €9,762 | €22,930 | €29,219 | €21,737 | ▼ 25.6% |
| Other amounts payable47/48 | €105,345 | €64,791 | €1,068 | €1,699 | €2,270 | ▲ 33.6% |
| Accrued charges and deferred income492/3 | €6,813 | €0 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €45,012 | €83,862 | €125,474 | €111,654 | €121,333 | ▲ 8.7% |
| + Depreciation and write-downs630 | €12,919 | €66,483 | €73,078 | €94,176 | €104,399 | ▲ 10.9% |
| Operating cash flow (approximation) | €57,931 | €150,345 | €198,552 | €205,830 | €225,732 | ▲ 9.7% |
| Investment in fixed assets (approximation) | - | -€51,036 | -€69,848 | -€137,323 | -€49,782 | ▲ 63.7% |
| Change in cash | - | €30,110 | -€2,971 | €69,438 | -€66,991 | ▼ 196% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
30-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
18-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Highest result since 2018net €125,474 ▲49.6%
Net result €125,474, the highest in the series.
31-12
Financial
Equity above €500,000Eq €503,984 ▲33.1%
6 profitable years in a row build equity to €503,984.
19-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
03-11
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
27-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
28-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
26-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Weakest financial yearnet €34,757 ▼48.6%
Net result drops to €34,757, the lowest in the series; recovery starts the following year.
31-12
Financial
Equity above €200,000Eq €212,867 ▲19.5%
2 profitable years in a row build equity to €212,867.
05-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
21-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
6 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Oupeye · 1 establishment unit since 2005
Ground area
2,667 m²
Building footprint
145 m²
Volume, LiDAR
767 m³
2 parcels, Wallonia · tallest building 6.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
IVAN MARTIN SPRL
since 20052.177.660.490
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62049A1372/00B000 | Wallonia | 2,504 m² | - | - |
| 62049B0021/00E000 | Wallonia | 163 m² | 1 · 145 m² | 6.7 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Recognised contractor
3 categoriesIVAN MARTIN SRL36119
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Of 9,537 companies in sector 43222 we hold annual accounts for 5,668. 3,541 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded04-10-1995
Fiscal year end31-12
Activities, NACEBEL 2025
43222Installation of electric heating, air conditioning, cooling and ventilation
33200Installation of industrial machinery and equipment
46150Agents in the wholesale of furniture, household goods and hardware
68110Buying and selling of own real estate
68121Development of residential building projects
68122Development of non-residential building projects
68201Renting and operating of own or leased residential real estate, excluding social housing
68203Renting and operating of own or leased non-residential real estate, excluding land
E-invoicing
Reachable via Peppol
Peppol ID
0208:0456095285
Also
9925:BE0456095285
Registered
01-08-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.