MAERTENS TECH
ActiveSummary
The computed 12-month bankruptcy probability of MAERTENS TECH is 2.2% (moderate). The 2025 annual accounts show equity of €198,963 and a net result of €46,228. Equity is growing by ~32.2% per year across the filed fiscal years. Its solvency ranks better than 60% of 28281 sector peers (fiscal year 2025). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability85▼-7
Solvency81▲+1
Growth52=
Track record94
Bankruptcy probability, 12 months
2.2%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €14,000 at 30 days acceptable
Liquidity ample (current ratio 2.43 against 1.79 in 2024; short-term debt: 26.6% and cash: 30.5% of total assets), and 44.1% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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 · 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
55.9%
Return on assets
13%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-09-2026, 55 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 3 filingsDeviation from the deadline
2025
55 d late
2024
20 d late
2023
30 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 3 accounts on average 35 days after 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 31 August (3 of the last 3 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
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you trust this company with building work?Contractor check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Public money
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
€198,963▲ 30.3%
2024 · €152,735
Total assets
€355,958▲ 27.5%
2024 · €279,184
Net result
€46,228▼ 11.5%
2024 · €52,206
Working capital
€134,942▲ 66.9%
2024 · €80,868
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
Line202320242025
Operating result€124,621-€70,134▼ 43.7%€60,679▼ 13.5%
Net result€90,529within the sector's middle half-€52,206above the sector's middle half▼ 42.3%€46,228above the sector's middle half▼ 11.5%
Equity€100,529below the sector's middle half-€152,735above the sector's middle half▲ 51.9%€198,963above the sector's middle half▲ 30.3%
Total assets€302,651below the sector's middle half-€279,184within the sector's middle half▼ 7.8%€355,958above the sector's middle half▲ 27.5%
Debt€202,123-€126,449▼ 37.4%€156,996▲ 24.2%
Working capital-€27,280below the sector's middle half-€80,868within the sector's middle half€134,942above the sector's middle half▲ 66.9%
Solvency33.2%within the sector's middle half-54.7%within the sector's middle half▲ 21.5pp55.9%within the sector's middle half▲ 1.2pp
Current ratio0.87below the sector's middle half-1.79within the sector's middle half▲ 0.922.43within the sector's middle half▲ 0.64
Return on assets (ROA)29.9%above the sector's middle half-18.7%above the sector's middle half▼ 11.2pp13.0%within the sector's middle half▼ 5.7pp
Staff (FTE)0below the sector's middle half-
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.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 13% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €355,958
Fixed assets
€126,479 ▲ 31.9%
Current assets
€229,480 ▲ 25.2%
Equity and liabilities €355,958
Equity
€198,963 ▲ 30.3%
Debt
€156,996 ▲ 24.2%
Debt's share of the balance-sheet total falls from 45.3% to 44.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€103,152▲
2024 · €101,825
Cash flow
€88,701▲
2024 · €83,898
Quick ratio
2.02▲
2024 · 1.46
Debt to equity
0.79▼
2024 · 0.83
ROE
23.2%▼
2024 · 34.2%
Interest coverage
55.08▼
2024 · 77.63
Debt ≤ 1 year
€94,537▼
2024 · €102,449
Debt > 1 year
€35,001
Income taxes
€15,755▼
2024 · €19,864
Staff costs
€0▼
2024 · €145
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 39,278 companies that looked in July 2024 the way this one looks now, 1.8% went bankrupt within 24 months and 96% are still going.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.8%
went bankrupt
2.3%
stopped otherwise
96%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.2% over twelve months; the group does not contradict it.
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 39,278 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 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €145 | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €31,168 | €31,691 | €42,473 | ▲ 34.0% |
| Other operating charges640/8 | €2,016 | €1,553 | €1,929 | ▲ 24.2% |
| Non-recurring operating charges66A | - | - | €3,400 | - |
| Gross operating margin9900 | €157,805 | €103,524 | €108,481 | ▲ 4.8% |
| Operating profit (loss)9901 | €124,621 | €70,134 | €60,679 | ▼ 13.5% |
| Financial income75/76B | €2,152 | €3,248 | €3,177 | ▼ 2.2% |
| Recurring financial income75 | €2,152 | €3,248 | €3,177 | ▼ 2.2% |
| Financial charges65/66B | €410 | €1,312 | €1,873 | ▲ 42.8% |
| Recurring financial charges65 | €410 | €1,312 | €1,873 | ▲ 42.8% |
| Profit (loss) for the period before taxes9903 | €126,363 | €72,070 | €61,983 | ▼ 14.0% |
| Income taxes67/77 | €35,834 | €19,864 | €15,755 | ▼ 20.7% |
| Profit (loss) for the period9904 | €90,529 | €52,206 | €46,228 | ▼ 11.5% |
| Profit (loss) for the period to be appropriated9905 | €90,529 | €52,206 | €46,228 | ▼ 11.5% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €302,651 | €279,184 | €355,958 | ▲ 27.5% |
| Fixed assets21/28 | €127,808 | €95,867 | €126,479 | ▲ 31.9% |
| Tangible fixed assets22/27 | €127,288 | €95,597 | €126,344 | ▲ 32.2% |
| Plant, machinery and equipment23 | €93,860 | €70,395 | €46,930 | ▼ 33.3% |
| Furniture and vehicles24 | €33,428 | €25,202 | €34,913 | ▲ 38.5% |
| Leasing and similar rights25 | - | - | €44,501 | - |
| Financial fixed assets28 | €520 | €270 | €135 | ▼ 50.0% |
| Current assets29/58 | €174,843 | €183,316 | €229,480 | ▲ 25.2% |
| Stocks and contracts in progress3 | €41,331 | €33,684 | €38,891 | ▲ 15.5% |
| Stocks30/36 | €41,331 | €33,684 | €38,891 | ▲ 15.5% |
| Amounts receivable within one year40/41 | €94,039 | €56,517 | €74,665 | ▲ 32.1% |
| Trade receivables40 | €78,848 | €41,144 | €74,665 | ▲ 81.5% |
| Other amounts receivable41 | €15,191 | €15,373 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €37,250 | €88,457 | €108,733 | ▲ 22.9% |
| Deferred charges and accrued income490/1 | €2,223 | €4,658 | €7,190 | ▲ 54.3% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €302,651 | €279,184 | €355,958 | ▲ 27.5% |
| Equity10/15 | €100,529 | €152,735 | €198,963 | ▲ 30.3% |
| Contributions10/11 | €10,000 | €10,000 | €10,000 | = |
| Reserves13 | €90,529 | €142,735 | €188,963 | ▲ 32.4% |
| Distributable reserves133 | €90,529 | €142,735 | €188,963 | ▲ 32.4% |
| Amounts payable17/49 | €202,123 | €126,449 | €156,996 | ▲ 24.2% |
| Amounts payable after more than one year17 | - | - | €35,001 | - |
| Financial debts170/4 | - | - | €35,001 | - |
| Amounts payable within one year42/48 | €202,123 | €102,449 | €94,537 | ▼ 7.7% |
| Current portion of amounts payable after more than one year42 | - | - | €10,021 | - |
| Financial debts43 | €6,754 | - | - | - |
| Credit institutions430/8 | €6,754 | - | - | - |
| Trade debts44 | €176,717 | €75,378 | €31,027 | ▼ 58.8% |
| Suppliers440/4 | €176,717 | €75,378 | €31,027 | ▼ 58.8% |
| Taxes, remuneration and social security45 | €15,835 | €22,502 | €17,851 | ▼ 20.7% |
| Taxes450/3 | €15,835 | €22,502 | €17,851 | ▼ 20.7% |
| Other amounts payable47/48 | €2,816 | €4,569 | €35,638 | ▲ 680% |
| Accrued charges and deferred income492/3 | - | €24,000 | €27,457 | ▲ 14.4% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €90,529 | €52,206 | €46,228 | ▼ 11.5% |
| + Depreciation and write-downs630 | €31,168 | €31,691 | €42,473 | ▲ 34.0% |
| Operating cash flow (approximation) | €121,697 | €83,898 | €88,701 | ▲ 5.7% |
| Investment in fixed assets (approximation) | - | €250 | -€73,085 | ▼ 29,334% |
| Change in cash | - | €51,207 | €20,276 | ▼ 60.4% |
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
24-09
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 55 days late
2025
31-12
Financial
Weakest financial yearnet €46,228 ▼11.5%
Net result drops to €46,228, the lowest in the series.
20-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 20 days late
2024
31-12
Financial
Liquidity doublescurrent ratio 1.79
Current ratio from 0.87 to 1.79; short-term debt falls from €202,123 to €102,449.
31-12
Financial
Equity above €150,000Eq €152,735 ▲51.9%
2 profitable years in a row build equity to €152,735.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Roeselare · 1 establishment unit since 2022
Ground area
883 m²
Parcel 36013B0964/00B000, Flanders. Linked by address, not a title deed.
1 establishment unit
Maertens Tech
since 20222.340.153.506
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36013B0964/00B000 | Flanders | 883 m² | - | - |
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.
Public money · subsidies and aid
Flemish government
2024 · 1 entry · 279 EUR awarded · 279 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 279 EUR | 279 EUR |
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Of 7,044 companies in sector 43221 we hold annual accounts for 3,477. 2,894 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
Founded20-12-2022
Fiscal year end31-12
Activities, NACEBEL 2025
43221Plumbing work
E-invoicing
Reachable via Peppol
Peppol ID
0208:0795092469
Also
9925:BE0795092469
Registered
19-12-2024
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.