Active BE 0765.409.578Private limited company

Martha Atelier

Bitterzoetlaan(Odk) 54 ·8670 Koksijde, Belgium· 5 yrs active

Sector: Ontwikkeling van residentiële bouwprojecten (68121)

Conclusion Checked

The computed 12-month bankruptcy probability of Martha Atelier is 0.9% (low). The 2024 annual accounts show equity of €114k and a net result of €-42k. Equity is shrinking by ~27.9% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2027. Its solvency ranks better than 50% of 4962 sector peers (fiscal year 2024). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 3 annual accounts.

Key figures

Equity	€114k
Net result	€-42k
Better than sector	50%
Active	5 yrs

Snowflake analysis 5 of 5 axes measured · computed by Checked

45 / 100

Mixed profile: strong on stability, weaker on profitability.

All 5 axes are computed from data Checked has read.

Health 30

Profitability 0

Solvency 45

Growth 58

Stability 94

Bankruptcy probability (12 mo) Checked model v1 · free

0.9% Low

0%0,5%1,5%4%10%≥25%

Young company +Lower-failure-rate sector −Annual accounts: weaker financial profile +

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 2 signals

More than 3 years active

Founded in 2021, past the statistically most fragile first 3 years.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags0 events

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Health barometer FY 2024 · computed

30 / 100 Weak

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.

See plans →

Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.

Financial overview3 NBB filings

Annual accounts filed on 28-08-2025 with the NBB · fiscal year 2024 · micro

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

declining At this pace, equity would indicatively turn negative around fiscal year 2027, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2024 · NACE 68, Real estate activities · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	17.1%	16.7%	better than 50% of 4962 sector peers
Net result	€-42k	€2k	better than 11% of 4954 sector peers
Equity	€114k	€27k	better than 76% of 4965 sector peers
Gross operating margin	€-30k	€27k	better than 5% of 4948 sector peers
Staff costs	€2k	€20k	higher than 26% of 733 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

EBITDA

€-34k

+5.6% 22-24

Net profit

€-42k

+7.0% 22-24

Cash flow

€-34k

+11.4% 22-24

Total assets

€663k

+47.0% 22-24

Equity

€114k

-26.9% 22-24

Working capital

€392k

+4.3% 22-24

Staff costs

€2k

-94.0% 22-24

Income taxes

€194

- 22-24

Debt

€549k

+85.7% 22-24

Debt ≤ 1y

€219k

+1119.9% 22-24

Debt > 1y

€330k

+19.9% 22-24

Current ratio

2.79

-87.3% 22-24

Quick ratio

0.32

-80.2% 22-24

Solvency

17.1%

-50.3% 22-24

Debt / equity

4.84

+154.1% 22-24

ROE

-36.8%

-27.2% 22-24

ROA

-6.3%

+36.7% 22-24

Interest coverage

-179.43

-1313.1% 22-24

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2024
Deposit	micro
Revenue	-
EBITDA	€-34k
Net profit	€-42k
Cash flow	€-34k
Staff costs	€2k
Income taxes	€194
Dividends	-
Total assets	€663k
Equity	€114k
Debt	€549k
of which ≤ 1y	€219k
of which > 1y	€330k
Working capital	€392k
Employees (FTE)	-

Ratios (computed)

	2024
Current ratio	2.79
Quick ratio	0.32
Working capital ratio	59.2%
Solvency	17.1%
Debt / equity	4.84
Long-term debt ratio	2.91
Interest coverage	-179.43
Gross margin	-
Net margin	-
ROA	-6.3%
ROE	-36.8%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2024

Assets

Fixed assets €51k · 7.7% Current assets €612k · 92.3%

Equity & liabilities

Equity €114k · 17.1% Debt €549k · 82.9%

Full annual accounts

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2024
Balance sheet, Assets
TOTAL ASSETS	20/58	€663k
Fixed assets	21/28	€51k
Tangible fixed assets	22/27	€51k
Current assets	29/58	€612k
Stocks & contracts in progress	3	€543k
Amounts receivable within one year	40/41	€65k
Cash & bank	54/58	€783
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€663k
Equity	10/15	€114k
Contributions / capital	10/11	€250k
Accumulated profits (losses)	14	€-136k
Amounts payable	17/49	€549k
Amounts payable after one year	17	€330k
Amounts payable within one year	42/48	€219k
Trade debts payable within one year	44	€194k
Income statement
Gross operating margin	9900	€-30k
Operating result	9901	€-41k
Financial income	75	€2
Financial charges	65	€187
Result before taxes	9903	€-42k
Income taxes	67/77	€194
Net result for the period	9904	€-42k
Result to be appropriated	9905	€-42k

You are seeing the latest fiscal year only. 2 prior years (figures + ratios) are in a paid plan. See plans →

Ratios computed by Checked.

Legal Structure

NACE primary	Ontwikkeling van residentiële bouwprojecten(68121)
Legal form	Private limited company(610)
Incorporation	19-03-2021
Status	Active
Postal code	8670

Establishment units 1 location

Martha Atelier

Bitterzoetlaan(Odk) 54, 8670 KoksijdeOntwikkeling van residentiële bouwprojecten

since 20212.315.008.532

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Real-estate footprint Source: CBE × cadastre

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
38502G0800/00L000	Flanders	1,235 m²	1 · 110 m²	9.3 m · 2 fl.

Methodology

via registered seat: 1

1 of 1 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Updates 5 events

A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.

2025

28-08-2025

NBB filing Annual accounts filed

fiscal year 2024 · micro

2024

30-09-2024

NBB filing Annual accounts filed

fiscal year 2023 · micro

2023

30-08-2023

NBB filing Annual accounts filed

fiscal year 2022 · micro

23-08-2023

State Gazette act Registered-office change

2022

08-12-2022

State Gazette act Registered-office change

Belgisch Staatsblad, acts 2 acts

Address history · 2

23-08-2023

Registered-office move

08-12-2022

Registered-office move

All acts · 2 updated 2 years ago

2023

23-08-2023 Registered office moved from Hove to Oostduinkerke Registered-office change

Lintsesteenweg 74, 2540 Hove → Bitterzoetlaan 54, 8670 Oostduinkerke

Original publication ↗

Technical details

{
  "events": [
    {
      "kind": "zetel_transfer",
      "seat_type": "siege_social",
      "new_address": {
        "raw": "Bitterzoetlaan 54, 8670 Oostduinkerke",
        "city": "Oostduinkerke",
        "region": "vlaams_gewest",
        "street": "Bitterzoetlaan",
        "country": "BE",
        "postcode": "8670",
        "box_number": null,
        "street_number": "54",
        "locality_suffix": null
      },
      "old_address": {
        "raw": "Lintsesteenweg 74, 2540 Hove",
        "city": "Hove",
        "region": "vlaams_gewest",
        "street": "Lintsesteenweg",
        "country": "BE",
        "postcode": "2540",
        "box_number": null,
        "street_number": "74",
        "locality_suffix": "(H-G)"
      },
      "effective_date": "2023-07-01",
      "evidence_quote": "",
      "region_changed": false,
      "is_statute_change": true,
      "nationality_change": false,
      "old_address_source": "header_volledig_adres",
      "statute_clause_text": null,
      "statute_article_number": null,
      "effective_date_qualifier": "absolute",
      "statutaire_vs_werkelijke": "statutaire",
      "linguistic_region_changed": false,
      "court_jurisdiction_changed": false,
      "effective_date_is_approximate": false
    }
  ],
  "notary": {
    "name": null,
    "firm_city": null,
    "firm_name": null,
    "office_city": null,
    "is_associated": false
  },
  "act_meta": {
    "language": "nl",
    "pub_date": "2023-08-23",
    "filing_date": "2023-08-10",
    "act_kind_objet": "Onderwerp akte:"
  },
  "decision": {
    "body": "enige_bestuurder",
    "date": "2023-08-10",
    "unanimous": null
  },
  "subject_company": {
    "kbo": "0765.409.578",
    "name_full": "Martha Atelier",
    "legal_form": "BV"
  },
  "publication_proxy": {
    "kind": "person",
    "org_kbo": null,
    "org_name": null,
    "person_name": "Herman Haverais",
    "org_rep_person_name": null,
    "person_role_at_subject": "Bestuurder"
  },
  "co_filed_documents": []
}

2022

08-12-2022 Registered office moved from Wijnegem to Hove Registered-office change

Turnhoutsebaan 305, 2110 Wijnegem → Lintsesteenweg 74, 2540 Hove

Original publication ↗

Technical details

{
  "events": [
    {
      "kind": "zetel_transfer",
      "seat_type": "siege_social",
      "new_address": {
        "raw": "Lintsesteenweg 74, 2540 Hove",
        "city": "Hove",
        "region": "vlaams_gewest",
        "street": "Lintsesteenweg",
        "country": "BE",
        "postcode": "2540",
        "box_number": null,
        "street_number": "74",
        "locality_suffix": null
      },
      "old_address": {
        "raw": "Turnhoutsebaan 305, 2110 Wijnegem",
        "city": "Wijnegem",
        "region": "vlaams_gewest",
        "street": "Turnhoutsebaan",
        "country": "BE",
        "postcode": "2110",
        "box_number": null,
        "street_number": "305",
        "locality_suffix": null
      },
      "effective_date": "2022-09-29",
      "evidence_quote": "",
      "region_changed": false,
      "is_statute_change": true,
      "nationality_change": false,
      "old_address_source": "header_volledig_adres",
      "statute_clause_text": null,
      "statute_article_number": null,
      "effective_date_qualifier": "absolute",
      "statutaire_vs_werkelijke": "statutaire",
      "linguistic_region_changed": false,
      "court_jurisdiction_changed": false,
      "effective_date_is_approximate": false
    }
  ],
  "notary": {
    "name": null,
    "firm_city": null,
    "firm_name": null,
    "office_city": null,
    "is_associated": false
  },
  "act_meta": {
    "language": "nl",
    "pub_date": null,
    "filing_date": "2022-11-23",
    "act_kind_objet": "Onderwerp akte:"
  },
  "decision": {
    "body": "enige_bestuurder",
    "date": "2022-11-23",
    "unanimous": null
  },
  "subject_company": {
    "kbo": "0765.409.578",
    "name_full": "Martha Atelier",
    "legal_form": "BV",
    "_kbo_filled_from_list": true
  },
  "publication_proxy": {
    "kind": "person",
    "org_kbo": null,
    "org_name": null,
    "person_name": "Heman Haverals",
    "org_rep_person_name": null,
    "person_role_at_subject": "Bestuurder"
  },
  "co_filed_documents": []
}

Credit advice verdict per customer and amount

Company registry (CBE) Crossroads Bank

Activities

Ontwikkeling van residentiële bouwprojecten41101Ontwikkeling van residentiële bouwprojecten68121Gites, vakantiewoningen en -appartementen55203Gites, vakantiewoningen en -appartementen55203Handel in eigen onroerend goed68100Handel in eigen onroerend goed68110Activiteiten van managers van artiesten, sportlui en overige bekende pesonaliteiten74901Activiteiten van managers van artiesten, sportlui en overige bekende personaliteiten74991Promotie en organisatie van uitvoerende kunstevenementen90021Overige ondersteunende activiteiten voor de uitvoerende kunsten90029Promotie en organisatie van scheppende en uitvoerende kunstevenementen90391Andere ondersteunende activiteiten voor scheppende en uitvoerende kunst, neg90399

Primary activity highlighted.

Names & trade names

Legal nameNL

Martha Atelier

Registered office

Bitterzoetlaan(Odk) 54

8670 Koksijde, Belgium

Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.

Similar companies Comparable size · 2,020 of 9,649 companies in this sector with filed accounts

Deman Group BE 0794.829.876 · Harelbeke

G3 BE 0892.934.686 · La Louvière

BP Home BE 0779.632.352 · Chaudfontaine

Kouters Development BE 0770.760.515 · Gent

THUDI-INVEST BE 0769.969.172 · Thuin