MARTENS PROJECTS
ActiveMARTENS PROJECTS has been active since 1968 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €6.93M and a net result of €-321k. Equity is growing by ~11.5% per year across the filed fiscal years. Its solvency ranks better than 66% of 9135 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
58
/ 100
Fair
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability20▲+4
Solvency76▼-17
Growth52=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €400k at 30 days acceptable
Liquidity short (current ratio 0.74 against 2.61 in 2024; short-term debt: 39.4% and cash: 1.1% of total assets), and 49.2% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Sector 68
lower
← 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
50.8%
Return on assets
-2.4%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-321k
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 19-05-2026, 73 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
73 d early
2024
44 d early
2023
63 d early
2022
67 d early
2021
61 d early
2020
53 d early
2019
65 d early
← before the deadline
after the deadline →
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
18-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€6.93M▼ 25.1%
2024 · €9.25M
2018: €4.07M
2019: €3.95M
2020: €3.74M
2021: €3.73M
2022: €5.22M
2023: €9.99M
2024: €9.25M
2018 → 2025
Total assets
€13.64M▲ 0.6%
2024 · €13.56M
2018: €7.40M
2019: €7.22M
2020: €6.89M
2021: €6.61M
2022: €7.54M
2023: €14.35M
2024: €13.56M
2018 → 2025
Net result
€-321k▲ 7.7%
2024 · €-348k
2018: €-55k
2019: €-118k
2020: €-113k
2021: €89k
2022: €1.49M
2023: €2.60M
2024: €-348k
2018 → 2025
Working capital
€-1.40M
2024 · €4.68M
2018: €-702k
2019: €-663k
2020: €-653k
2021: €-226k
2022: €2.19M
2023: €6.56M
2024: €4.68M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€3.73M-€5.22M▲ 40.0%€9.99M▲ 91.4%€9.25M▼ 7.5%€6.93M▼ 25.1%
Operating result€137k-€1.92M▲ 1,308%€3.36M▲ 74.5%€-308k€-222k▲ 27.8%
Net result€89k-€1.49M▲ 1,573%€2.60M▲ 74.4%€-348k€-321k▲ 7.7%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €222k in 2025 against €308k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €13.64M
Fixed assets
€9.67M▲ 62.3%
Current assets
€3.97M▼ 47.8%
Equity and liabilities €13.64M
Equity
€6.93M▼ 25.1%
Provisions
€1.35M▼ 2.8%
Debt
€5.37M▲ 83.2%
The debt ratio rises from 21.6% to 39.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€72k▲
2024 · €-25k
Cash flow
€-27k▲
2024 · €-65k
Solvency
50.8%▼
2024 · 68.2%
Current ratio
0.74▼
2024 · 2.61
Quick ratio
0.04▼
2024 · 0.97
Debt / equity
0.78▲
2024 · 0.32
ROE
-4.6%▼
2024 · -3.8%
ROA
-2.4%▲
2024 · -2.6%
Interest coverage
0.53▲
2024 · -0.15
Debt
€5.37M▲
2024 · €2.93M
Debt ≤ 1 year
€5.37M▲
2024 · €2.92M
Income taxes
€2k▼
2024 · €2k
Staff costs
€224k▲
2024 · €176k
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€13.56M€13.64M▲
Fixed assets21/28€5.96M€9.67M▲
Tangible fixed assets22/27€5.95M€9.66M▲
Land and buildings22€5.65M€9.44M▲
Furniture and vehicles24€272k€191k▼
Other tangible fixed assets26€26k€23k▼
Financial fixed assets28€15k€16k▲
Current assets29/58€7.60M€3.97M▼
Stocks and contracts in progress3€4.78M€3.73M▼
Stocks30/36€4.78M€3.73M▼
Amounts receivable within one year40/41€2.65M€77k▼
Trade receivables40€103k€42k▼
Other amounts receivable41€2.55M€35k▼
Cash at bank and in hand54/58€168k€145k▼
Deferred charges and accrued income490/1€147€12k▲
Equity and liabilities
Total equity and liabilities10/49€13.56M€13.64M▲
Equity10/15€9.25M€6.93M▼
Contributions10/11€149k€149k=
Capital10€149k€149k=
Issued capital100€149k€149k=
Reserves13€6.60M€6.51M▼
Non-distributable reserves130/1€93k€93k=
Legal reserve130€93k€93k=
Tax-exempt reserves132€4.06M€3.97M▼
Distributable reserves133€2.45M€2.45M=
Profit (loss) carried forward14€2.49M€265k▼
Provisions and deferred taxes16€1.39M€1.35M▼
Deferred taxes168€1.39M€1.35M▼
Amounts payable17/49€2.93M€5.37M▲
Amounts payable within one year42/48€2.92M€5.37M▲
Financial debts43€2.72M€3.14M▲
Credit institutions430/8€2.72M€3.14M▲
Trade debts44€3k€40k▲
Suppliers440/4€3k€40k▲
Taxes, remuneration and social security45€102k€80k▼
Taxes450/3€83k€65k▼
Remuneration and social security454/9€19k€16k▼
Other amounts payable47/48€95k€2.11M▲
Accrued charges and deferred income492/3€13k€0▼
Income statement
Code20242025
Non-recurring operating income76A€43k€7k▼
Remuneration, social security and pensions62€176k€224k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€283k€294k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€8k€-3k▼
Other operating charges640/8€47k€47k▼
Gross operating margin9900€207k€340k▲
Operating profit (loss)9901€-308k€-222k▲
Financial income75/76B€79k€3▼
Recurring financial income75€79k€3▼
Financial charges65/66B€163k€136k▼
Recurring financial charges65€163k€136k▼
Profit (loss) for the period before taxes9903€-392k€-358k▲
Transfer from deferred taxes780€47k€39k▼
Income taxes67/77€2k€2k▼
Profit (loss) for the period9904€-348k€-321k▲
Transfer from tax-exempt reserves789€106k€92k▼
Profit (loss) for the period to be appropriated9905€-242k€-229k▲
Appropriation of the result
Profit (loss) to be appropriated9906€2.89M€2.27M▼
Profit (loss) brought forward from the previous period14P€3.14M€2.49M▼
Profit to be distributed694/7€400k€2.00M▲
Return on contributions (dividend)694€400k€2.00M▲
Social balance
Average headcount (FTE)90872.52.3▼
The notes to these accounts (17 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
19-05
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
17-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Weakest financial yearnet €-348k ▼113%
Net result drops to €-348k, the lowest in the series; recovery starts the following year.
29-05
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Highest result since 2018net €2.60M ▲74.4%
Operating result €3.36M, net result €2.60M, both a record.
25-05
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Liquidity triplescurrent ratio 2.31
Current ratio from 0.91 to 2.31; short-term debt falls from €2.49M to €1.67M.
31-12
Financial
Equity above €5MEq €5.22M ▲40%
2 profitable years in a row build equity to €5.22M.
31-05
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Back to profitnet €89k
Net result €89k after 3 loss-making years.
08-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
27-05
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
21-05
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
08-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
21-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
9 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, Brasschaat · 1 establishment unit since 1937
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.
Emmalei 1B2930 BrasschaatGround area
647 m²
Building footprint
348 m²
Volume, LiDAR
2,306 m³
Parcel 11323F0134/00Z002, Flanders · tallest building 10.8 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
MARTENS PROJECTS
since 19372.003.594.980
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11323F0134/00Z002 | Flanders | 647 m² | 1 · 348 m² | 10.8 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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 to 2025 · 2 entries · 110 EUR awarded · 110 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 59 EUR | 59 EUR |
| 2024 | 1 | 51 EUR | 51 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 9,134 companies in sector 68201 we hold annual accounts for 6,763. 2,672 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded01-01-1968
Fiscal year end31-12
Activities, NACEBEL
68201Renting and operating of own or leased residential real estate, excluding social housing
68310Real estate agency activities
68311Real estate activities
68121Development of residential building projects
Sources
Crossroads Bank for EnterprisesNational Bank · 49 filingsAddress and cadastre registers
Data from official sources, last processed on 18-09-2026. Scores and ratios are computed by Checked and are not a credit decision.