MARTECO
ActiveSummary
MARTECO has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €81k and a net result of €19k. Equity is growing by ~28.6% per year across the filed fiscal years. Its solvency ranks better than 13% of 27965 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability60▼-9
Solvency33▼-2
Growth85=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €5k at 30 days acceptable
Liquidity tight (current ratio 1.18 against 1.1 in 2024; short-term debt: 23% and cash: 22.9% of total assets), and 91.5% of the assets are financed with debt.
Credit check for your own amount and term
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
8.5%
Return on assets
2%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 13% of 27965 sector peers (2025).
NBB · sector comparisonPosition among 27965 sector peers
Solvency
better than 13%
← weakest
strongest →
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 30-07-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
29 d late
2023
27 d late
2022
20 d early
2021
37 d early
2020
26 d late
2019
88 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
€651k▲ 48.4%
2018 · €439k
2018: €439k
2019: €651k▲ +48.4% vs 2018
2018 → 2019
EBIT margin
3.9%▲ 2.5pp
2018 · 1.4%
2018: 1.4%
2019: 3.9%▲ +183% vs 2018
2018 → 2019
Net result
€19k▲ 673%
2024 · €3k
2018: €-5klowest in 8 years
2019: €10k▲ +304% vs 2018
2020: €4k▼ -65.4% vs 2019
2021: €17k▲ +390% vs 2020
2022: €34k▲ +96.8% vs 2021highest in 8 years
2023: €13k▼ -62.8% vs 2022
2024: €3k▼ -80.1% vs 2023
2025: €19k▲ +673% vs 2024
2018 → 2025
Working capital
€40k▲ 51.7%
2024 · €26k
2018: €-722lowest in 8 years
2019: €28k▲ +3917% vs 2018
2020: €2k▼ -93.0% vs 2019
2021: €23k▲ +1107% vs 2020
2022: €29k▲ +24.6% vs 2021
2023: €28k▼ -3.6% vs 2022
2024: €26k▼ -6.1% vs 2023
2025: €40k▲ +51.7% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€52k-€86k▲ 65.1%€99k▲ 14.7%€101k▲ 2.5%€81k▼ 20.3%
2021: €52klowest in 5 years
2022: €86k▲ +65.1% vs 2021
2023: €99k▲ +14.7% vs 2022
2024: €101k▲ +2.5% vs 2023highest in 5 years
2025: €81k▼ -20.3% vs 2024
Operating result€29k-€49k▲ 66.5%€25k▼ 49.3%€12k▼ 49.9%€55k▲ 344%
2021: €29k
2022: €49k▲ +66.5% vs 2021
2023: €25k▼ -49.3% vs 2022
2024: €12k▼ -49.9% vs 2023lowest in 5 years
2025: €55k▲ +344% vs 2024highest in 5 years
Net result€17k-€34k▲ 96.8%€13k▼ 62.8%€3k▼ 80.1%€19k▲ 673%
2021: €17k
2022: €34k▲ +96.8% vs 2021highest in 5 years
2023: €13k▼ -62.8% vs 2022
2024: €3k▼ -80.1% vs 2023lowest in 5 years
2025: €19k▲ +673% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 344% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €951k
Fixed assets
€692k ▼ 0.7%
Current assets
€258k ▼ 6.7%
Equity and liabilities €951k
Equity
€81k ▼ 20.3%
Debt
€870k ▼ 0.4%
Debt's share of the balance-sheet total rises from 89.6% to 91.5%. Equity and debt are lower.
Key figures and ratios
EBITDA
€118k▲
2024 · €57k
Cash flow
€82k▲
2024 · €47k
Current ratio
1.18▲
2024 · 1.10
Quick ratio
1.15▲
2024 · 1.07
Debt to equity
10.76▲
2024 · 8.61
ROE
24.1%▲
2024 · 2.5%
ROA
2.0%▲
2024 · 0.3%
Interest coverage
4.67▼
2024 · 8.18
Debt ≤ 1 year
€218k▼
2024 · €251k
Debt > 1 year
€613k▲
2024 · €506k
Income taxes
€10k▲
2024 · €3k
Staff costs
€40k▼
2024 · €41k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 58 lines
Balance sheet
Code20242025
Assets
Total assets20/58€974k€951k▼
Fixed assets21/28€697k€692k▼
Tangible fixed assets22/27€697k€692k▼
Land and buildings22€638k€611k▼
Plant, machinery and equipment23€13k€20k▲
Furniture and vehicles24€46k€61k▲
Other tangible fixed assets26€803€123▼
Current assets29/58€277k€258k▼
Stocks and contracts in progress3€8k€8k=
Stocks30/36€8k€8k=
Amounts receivable within one year40/41€162k€22k▼
Trade receivables40€152k€6k▼
Other amounts receivable41€10k€15k▲
Cash at bank and in hand54/58€100k€218k▲
Deferred charges and accrued income490/1€7k€11k▲
Equity and liabilities
Total equity and liabilities10/49€974k€951k▼
Equity10/15€101k€81k▼
Contributions10/11€20k€20k=
Reserves13€44k€23k▼
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€42k€21k▼
Profit (loss) carried forward14€37k€37k=
Amounts payable17/49€873k€870k▼
Amounts payable after more than one year17€506k€613k▲
Financial debts170/4€506k€583k▲
Other amounts payable178/9-€30k
Amounts payable within one year42/48€251k€218k▼
Current portion of amounts payable after more than one year42€30k€63k▲
Financial debts43€500€0▼
Credit institutions430/8€500€0▼
Trade debts44€161k€81k▼
Suppliers440/4€161k€81k▼
Taxes, remuneration and social security45€9k€12k▲
Taxes450/3€369€4k▲
Remuneration and social security454/9€8k€7k▼
Other amounts payable47/48€50k€63k▲
Accrued charges and deferred income492/3€116k€38k▼
Income statement
Code20242025
Remuneration, social security and pensions62€41k€40k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€45k€63k▲
Other operating charges640/8€1k€4k▲
Gross operating margin9900€99k€162k▲
Operating profit (loss)9901€12k€55k▲
Financial income75/76B€42€148▲
Recurring financial income75€42€148▲
Financial charges65/66B€7k€25k▲
Recurring financial charges65€7k€25k▲
Profit (loss) for the period before taxes9903€5k€30k▲
Income taxes67/77€3k€10k▲
Profit (loss) for the period9904€3k€19k▲
Profit (loss) for the period to be appropriated9905€3k€19k▲
Appropriation of the result
Profit (loss) to be appropriated9906€39k€57k▲
Profit (loss) brought forward from the previous period14P€37k€37k▲
Transfer from equity791/2-€40k
Transfer to equity691/2€2k€19k▲
To other reserves6921€2k€19k▲
Profit to be distributed694/7-€40k
Return on contributions (dividend)694-€40k
The notes to these accounts (14 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €29k | €35k | €40k | €41k | €40k | ▼ 1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €17k | €30k | €44k | €45k | €63k | ▲ 40.8% |
| Other operating charges640/8 | €1k | €968 | €1k | €1k | €4k | ▲ 143% |
| Gross operating margin9900 | €76k | €114k | €110k | €99k | €162k | ▲ 63.0% |
| Operating profit (loss)9901 | €29k | €49k | €25k | €12k | €55k | ▲ 344% |
| Financial income75/76B | €124 | €1 | €11 | €42 | €148 | ▲ 255% |
| Recurring financial income75 | €124 | €1 | €11 | €42 | €148 | ▲ 255% |
| Financial charges65/66B | €5k | €6k | €6k | €7k | €25k | ▲ 262% |
| Recurring financial charges65 | €5k | €6k | €6k | €7k | €25k | ▲ 262% |
| Profit (loss) for the period before taxes9903 | €24k | €43k | €19k | €5k | €30k | ▲ 449% |
| Income taxes67/77 | €7k | €9k | €6k | €3k | €10k | ▲ 256% |
| Profit (loss) for the period9904 | €17k | €34k | €13k | €3k | €19k | ▲ 673% |
| Profit (loss) for the period to be appropriated9905 | €17k | €34k | €13k | €3k | €19k | ▲ 673% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €192k | €347k | €303k | €974k | €951k | ▼ 2.4% |
| Fixed assets21/28 | €127k | €217k | €185k | €697k | €692k | ▼ 0.7% |
| Tangible fixed assets22/27 | €127k | €217k | €185k | €697k | €692k | ▼ 0.7% |
| Land and buildings22 | €110k | €103k | €95k | €638k | €611k | ▼ 4.2% |
| Plant, machinery and equipment23 | €6k | €8k | €13k | €13k | €20k | ▲ 53.5% |
| Furniture and vehicles24 | €4k | €104k | €76k | €46k | €61k | ▲ 33.8% |
| Other tangible fixed assets26 | €7k | €3k | €2k | €803 | €123 | ▼ 84.6% |
| Current assets29/58 | €65k | €130k | €118k | €277k | €258k | ▼ 6.7% |
| Stocks and contracts in progress3 | €7k | €39k | €12k | €8k | €8k | = |
| Stocks30/36 | €7k | €39k | €12k | €8k | €8k | = |
| Amounts receivable within one year40/41 | €9k | €21k | €29k | €162k | €22k | ▼ 86.7% |
| Trade receivables40 | €2k | €5k | €20k | €152k | €6k | ▼ 95.9% |
| Other amounts receivable41 | €7k | €17k | €9k | €10k | €15k | ▲ 52.5% |
| Cash at bank and in hand54/58 | €44k | €63k | €69k | €100k | €218k | ▲ 119% |
| Deferred charges and accrued income490/1 | €5k | €6k | €7k | €7k | €11k | ▲ 55.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €192k | €347k | €303k | €974k | €951k | ▼ 2.4% |
| Equity10/15 | €52k | €86k | €99k | €101k | €81k | ▼ 20.3% |
| Contributions10/11 | €20k | €20k | €20k | €20k | €20k | = |
| Reserves13 | €2k | €32k | €42k | €44k | €23k | ▼ 46.7% |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | €2k | €2k | €2k | €2k | €2k | = |
| Distributable reserves133 | - | €30k | €40k | €42k | €21k | ▼ 49.0% |
| Profit (loss) carried forward14 | €30k | €34k | €37k | €37k | €37k | = |
| Amounts payable17/49 | €139k | €261k | €204k | €873k | €870k | ▼ 0.4% |
| Amounts payable after more than one year17 | €87k | €122k | €91k | €506k | €613k | ▲ 21.1% |
| Financial debts170/4 | €87k | €122k | €91k | €506k | €583k | ▲ 15.2% |
| Other amounts payable178/9 | - | - | - | - | €30k | - |
| Amounts payable within one year42/48 | €41k | €101k | €90k | €251k | €218k | ▼ 12.8% |
| Current portion of amounts payable after more than one year42 | €17k | €31k | €31k | €30k | €63k | ▲ 107% |
| Financial debts43 | - | €400 | €500 | €500 | €0 | ▼ 100% |
| Credit institutions430/8 | - | €400 | €500 | €500 | €0 | ▼ 100% |
| Trade debts44 | €8k | €51k | €32k | €161k | €81k | ▼ 50.0% |
| Suppliers440/4 | €8k | €51k | €32k | €161k | €81k | ▼ 50.0% |
| Taxes, remuneration and social security45 | €6k | €11k | €12k | €9k | €12k | ▲ 36.2% |
| Taxes450/3 | €747 | €5k | €4k | €369 | €4k | ▲ 1,117% |
| Remuneration and social security454/9 | €5k | €6k | €7k | €8k | €7k | ▼ 12.8% |
| Other amounts payable47/48 | €10k | €7k | €15k | €50k | €63k | ▲ 26.7% |
| Accrued charges and deferred income492/3 | €11k | €38k | €23k | €116k | €38k | ▼ 67.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €17k | €34k | €13k | €3k | €19k | ▲ 673% |
| + Depreciation and write-downs630 | €17k | €30k | €44k | €45k | €63k | ▲ 40.8% |
| Operating cash flow (approximation) | €34k | €64k | €57k | €47k | €82k | ▲ 74.4% |
| Investment in fixed assets (approximation) | - | €-120k | €-12k | €-557k | €-58k | ▲ 89.6% |
| Change in cash | - | €19k | €6k | €30k | €118k | ▲ 292% |
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
30-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
31-12
Financial
Equity above €100kEq €101k ▲2.5%
6 profitable years in a row build equity to €101k.
27-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 27 days late
2023
11-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2018net €34k ▲96.8%
Net result €34k, the highest in the series.
24-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
26-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 26 days late
2020
27-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 88 days late
2019
31-12
Financial
Back to profitnet €10k
Net result €10k after one loss-making year.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
25-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 56 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Antwerpen · 1 establishment unit since 2009
Ground area
9,336 m²
Building footprint
4,213 m²
Volume, LiDAR
29,514 m³
2 parcels, Flanders · tallest building 12.2 m, ±3 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
ECO2+TECHNOLOGIE
since 20092.178.390.465
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46025B1190/00L008 | Flanders | 9,188 m² | 1 · 4,064 m² | 8.3 m · 2 fl. |
| 11462A0151/00V004 | Flanders | 149 m² | 1 · 149 m² | 12.2 m · 3 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.
Public money · subsidies and aid
Flemish government
2025 · 1 entry · 654 EUR awarded · 444 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 654 EUR | 444 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 7,041 companies in sector 43221 we hold annual accounts for 3,473. 3,061 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
Founded14-04-2009
Fiscal year end31-12
Activities, NACEBEL 2025
43221Plumbing work
42219Civil engineering
Contact
Website
www.marteco.be
E-mail
info@marteco.be
Phone
0497904812
Website
www.eco2technologie.beTemse
E-mail
info@eco2technologie.beTemse
Phone
038777887Temse
Scores and ratios are computed by Checked and are not a credit decision.