M. Martens

Active

Private limited companyfounded 20179 yrs activeKomiezenstraat(STE) 31, 9190 Stekene, BelgiumKBO/BCE: BE 0668.796.885

M. Martens has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €26k and a net result of €20k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 15% of 27386 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.0% (low).

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Checked score

Score 2025

76 / 100

Excellent▲ +20 vs 2024

The score combines four axes. Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability100=

Solvency25▲+16

Growth78▲+46

Stability100

Bankruptcy probability, 12 months

1.0% Low

0%0.5%1.5%4%10%≥ 25%

Credit up to €2k at 30 days acceptable

Liquidity tight (current ratio 1.27 against 0.81 in 2024), and 88.5% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

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

−lowers risk+raises risk○neutral

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

Sector 43

higher

← fewer bankruptcies more bankruptcies →

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

11.5%

Return on assets

8.8%

Age of the figures

8 mo

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 15% of 27386 sector peers (2025).

NBB · sector comparison

Position among 27386 sector peers

Solvency

better than 15%

← weakest strongest →

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 19-03-2026, 134 days ahead of the deadline.

NBB · 8 filings

Deviation from the deadline

2025

134 d early

2024

27 d late

2023

7 d late

2022

51 d late

2021

31 d late

2020

on the day

2019

1 d early

← before the deadline after the deadline →

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.

Companies Code · seven months

Position in the running window

14-09-2026 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

Financials · fiscal year 2025, micro schema

Equity

€26k▲ 320%

2024 · €6k

2018: €22k 2019: €40k 2020: €41k 2021: €15k 2022: €-22k 2023: €-5k 2024: €6k

2018 → 2025

Total assets

€227k▼ 13.5%

2024 · €263k

2018: €106k 2019: €110k 2020: €77k 2021: €377k 2022: €326k 2023: €279k 2024: €263k

2018 → 2025

Net result

€20k▲ 76.9%

2024 · €11k

2018: €16k 2019: €18k 2020: €911 2021: €-26k 2022: €-38k 2023: €5k 2024: €11k

2018 → 2025

Working capital

€18k

2024 · €-23k

2018: €9k 2019: €21k 2020: €17k 2021: €-19k 2022: €-48k 2023: €-61k 2024: €-23k

2018 → 2025

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20212022202320242025Trend

Equity€15k-€-22k€-5k▲ 77.5%€6k€26k▲ 320%

Operating result€-23k-€-33k▼ 41.3%€19k€25k▲ 31.4%€29k▲ 13.4%

Net result€-26k-€-38k▼ 45.8%€5k€11k▲ 127%€20k▲ 76.9%

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

Result per fiscal year

Operating resultNet result

After the dip in 2022 the operating result has climbed three years in a row; 2025 is 13% above 2024 and is the highest year so far.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €227k

63.3%

36.7%

Fixed assets €144k▼ 12.3%

Current assets €83k▼ 15.5%

Equity and liabilities €227k

12%

88.5%

Equity €26k▲ 320%

Debt €201k▼ 21.6%

The debt ratio falls from 97.6% to 88.5%: equity grows while debt is paid down.

Key figures and ratios

2025 value · change against 2024

EBITDA

€63k▲

2024 · €58k

Cash flow

€55k▲

2024 · €44k

Solvency

11.5%▲

2024 · 2.4%

Current ratio

1.27▲

2024 · 0.81

Quick ratio

1.17▲

2024 · 0.77

Debt / equity

7.67▼

2024 · 41.07

ROE

76.2%▼

2024 · 180.8%

ROA

8.8%▲

2024 · 4.3%

Interest coverage

10.94▲

2024 · 4.29

Debt

€201k▼

2024 · €257k

Debt ≤ 1 year

€65k▼

2024 · €122k

Debt > 1 year

€136k▲

2024 · €134k

Income taxes

€3k▲

2024 · €513

Staff costs

€0▼

2024 · €2k

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

Filed annual accounts

As filed with the NBB · 2025 against 2024

Balance sheet Code20242025

Assets

Total assets20/58€263k€227k▼

Fixed assets21/28€164k€144k▼

Tangible fixed assets22/27€164k€144k▼

Plant, machinery and equipment23€10k€8k▼

Furniture and vehicles24€5k€10k▲

Leasing and similar rights25€149k€126k▼

Financial fixed assets28€35€35=

Current assets29/58€99k€83k▼

Stocks and contracts in progress3€5k€7k▲

Stocks30/36€5k€7k▲

Amounts receivable within one year40/41€54k€7k▼

Trade receivables40€46k€3k▼

Other amounts receivable41€9k€5k▼

Cash at bank and in hand54/58€36k€69k▲

Deferred charges and accrued income490/1€3k€0▼

Equity and liabilities

Total equity and liabilities10/49€263k€227k▼

Equity10/15€6k€26k▲

Contributions10/11€19k€19k=

Reserves13€2k€8k▲

Distributable reserves133€2k€8k▲

Profit (loss) carried forward14€-14k€26▲

Amounts payable17/49€257k€201k▼

Amounts payable after more than one year17€134k€136k▲

Financial debts170/4€134k€136k▲

Amounts payable within one year42/48€122k€65k▼

Current portion of amounts payable after more than one year42€36k€31k▼

Financial debts43€0-

Credit institutions430/8€0-

Trade debts44€47k€2k▼

Suppliers440/4€47k€2k▼

Taxes, remuneration and social security45€8k€5k▼

Taxes450/3€8k€4k▼

Remuneration and social security454/9€0€1k▲

Other amounts payable47/48€31k€28k▼

Accrued charges and deferred income492/3€800€0▼

Income statement Code20242025

Non-recurring operating income76A€3k€0▼

Remuneration, social security and pensions62€2k€0▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€33k€35k▲

Other operating charges640/8€7k€3k▼

Non-recurring operating charges66A€0-

Gross operating margin9900€67k€66k▼

Operating profit (loss)9901€25k€29k▲

Financial income75/76B€35€0▼

Recurring financial income75€35€0▼

Financial charges65/66B€13k€6k▼

Recurring financial charges65€13k€6k▼

Profit (loss) for the period before taxes9903€12k€23k▲

Income taxes67/77€513€3k▲

Profit (loss) for the period9904€11k€20k▲

Profit (loss) for the period to be appropriated9905€11k€20k▲

Appropriation of the result

Profit (loss) to be appropriated9906€-14k€6k▲

Profit (loss) brought forward from the previous period14P€-25k€-14k▲

Transfer to equity691/2-€6k

To other reserves6921-€6k

The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Download as CSV

Timeline · acts, filings and financial milestones

All 11Financial 3Filings 8

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

2026

19-03

NBB filing Annual accounts filed

fiscal year 2025 · micro schema

2025

31-12

Financial Highest result since 2018net €20k ▲76.9%

Operating result €29k, net result €20k, both a record.

27-08

NBB filing Annual accounts filed

fiscal year 2024 · micro schema · 27 days late

2024

07-08

NBB filing Annual accounts filed

fiscal year 2023 · micro schema · 7 days late

2023

31-12

Financial Back to profitnet €5k

Net result €5k after 2 loss-making years.

20-06

NBB filing Annual accounts filed

fiscal year 2022 · micro schema · 51 days late

2022

30-09

Financial Weakest financial yearnet €-38k

Net result drops to €-38k, the lowest in the series; recovery starts the following year.

31-05

NBB filing Annual accounts filed

fiscal year 2021 · micro schema · 31 days late

2021

30-04

NBB filing Annual accounts filed

fiscal year 2020 · micro schema

2020

29-04

NBB filing Annual accounts filed

fiscal year 2019 · micro schema

2019

29-04

NBB filing Annual accounts filed

fiscal year 2018 · micro schema

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

4 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, Stekene · 1 establishment unit since 2017

establishment approximate The establishment unit on the map

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Komiezenstraat(STE) 319190 Stekene

Ground area

422 m²

Building footprint

86 m²

Volume, LiDAR

685 m³

Parcel 46322D0578/00G002, Flanders · tallest building 10.0 m, ±3 floors. Linked by address, not a title deed.

1 establishment unit

M. Martens

Komiezenstraat(STE) 31, 9190 StekeneManufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials

since 20172.262.561.226

1 parcel

Flanders 1 (100%)