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MARTIN'S BRUSSELS

Active
Public limited companyfounded 1991active for 35 yearsKarel de Grotelaan 80, 1000 Brussel, BelgiumKBO/BCE: BE 0443.093.723
Summary

MARTIN'S BRUSSELS has been active since 1991 and the Belgian Official Gazette contains no insolvency or warning signals. The 2024 annual accounts show negative equity (-€5.5m) and a net result of €130,855. Equity is shrinking by about 8.4% per year across the filed financial years. Its solvency ranks better than 5% of 486 sector peers (NACE 55, financial year 2024). The computed 12-month bankruptcy probability is 1.4% (low).

Overview

Activity
Hotels and similar accommodation
NACE 55100
2 sites
Size
€8.1mturnover 2024
Staff
52.5 FTE
Equity
-€5.5m
Profit
€130,855
Financial health
55 Fair Checked score 2024
Bankruptcy probabilitywithin 12 months
1.4%
Structure
Parent
ANDEL · 99.99%
Board
9 members
  • OPTIMMOChair · permanent representative John C. Martin
Auditor: André FRANCOISAccounts 84 days overdue
Why 55raises riskCapped at 59: negative equityNegative equity -€5.5mFigures for financial year 2024 (filed 08-07-2025)lowers riskFounded in 1991Profit of €130,855 (financial year 2024)Show the evidence

Checked score

Score 2024
55 / 100
Fair
Probability in this band: 1.5% to 4.2%
Financially better than 37% of its sector peers (NACE 55, medium-sized)
Negative equity caps the score at 59. Every signal that counts is listed under Signals.
Financial strength · tick = 2023
Weak
Solvency 0=
equity -338.1% of total assets
Liquidity 20-17
short-term debt 86.6% · cash 14.2%
Profitability 66+5
return on assets 8.1%
Bankruptcy probability, 12 months
1.4% Low
0%0.5%1.5%4%10%≥ 25%

About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.4% (111 companies, NACE 55, medium-sized)
Last 24 months 11-2024: 0.8% 12-2024: 0.8%● unchanged vs 11-2024 01-2025: 0.8%● unchanged vs 12-2024 02-2025: 0.8%● unchanged vs 01-2025 03-2025: 0.8%● unchanged vs 02-2025 04-2025: 0.7%▼ -0.1 percentage points vs 03-2025 05-2025: 0.7%● unchanged vs 04-2025 06-2025: 0.7%● unchanged vs 05-2025 07-2025: 0.8%▲ +0.1 percentage points vs 06-2025 08-2025: 0.6%▼ -0.2 percentage points vs 07-2025 09-2025: 0.6%● unchanged vs 08-2025 10-2025: 0.6%● unchanged vs 09-2025 11-2025: 0.6%● unchanged vs 10-2025 12-2025: 0.6%● unchanged vs 11-2025 01-2026: 0.6%● unchanged vs 12-2025 02-2026: 0.6%● unchanged vs 01-2026 03-2026: 0.6%● unchanged vs 02-2026 04-2026: 0.6%● unchanged vs 03-2026lowest value 05-2026: 0.6%● unchanged vs 04-2026 06-2026: 0.7%▲ +0.1 percentage points vs 05-2026 07-2026: 0.7%● unchanged vs 06-2026 08-2026: 1.1%▲ +0.4 percentage points vs 07-2026 09-2026: 1.2%▲ +0.1 percentage points vs 08-2026 10-2026: 1.4%▲ +0.2 percentage points vs 09-2026highest value
No credit on open account
Liquidity insufficient (current ratio 0.53, compared with 0.67 in 2023, below 1; short-term debt: 86.6% and cash: 14.2% of total assets), and equity is negative.
How it is calculated

The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 55, medium-sized): better than 8% on solvency, 12% on liquidity, 59% on profitability and 70% on growth.

The bankruptcy probability was computed on 22-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Seven signals.
lowers riskraises riskneutral
raises risk · Negative equity -€5.5m
NBB · annual accounts
lowers risk · Founded in 1991
Companies that have existed this long fail less often; how much that weighs depends on the rest of its profile.
KBO
raises risk · Figures for financial year 2024 (filed 08-07-2025)
NBB · annual accounts
lowers risk · Profit of €130,855 (financial year 2024)
NBB · annual accounts
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 486 sector peers (2024).
NBB · sector comparison
Position among 486 sector peers
Solvency
better than 5%
← weakest strongest →
raises risk · Annual accounts not filed
The financial year that closed on 31-12-2025 was due at the National Bank by 31-07-2026. Nothing is on record, 84 days later.
NBB · 10 filings
Position against the passed deadline
31-12-2025 year end31-07-2026 deadline23-10-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 03-07-2025, 28 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
not filed
2024
28 days early
2023
41 days early
2022
33 days early
2021
51 days early
2020
47 days early
2019
44 days early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 6 accounts on average 41 days before the deadline; the sector median (NACE 55) for financial year 2024 is 1 day before the deadline, and 45% of those companies filed late.

Searched, nothing found (1)
neutral · No strike-offs in the KBO publications
Searched since 2021.
KBO publications · our coverage
  1. Permanent representative: Olivier PeetersResignation: NOLICIS (director) · Reappointments…
  2. Permanent representative: Olivier PeetersGazette deed
  3. Annual accounts filedfinancial year 2024 · full…

Key points

  • Risk: Negative equityfinancial year 2024: debts exceed assets -€5.5m View
  • Positive: Result rose in 2024from €34,435 to €130,855 ▲ 280% View
  • Caution: Among the weakest 5% on solvencysector median 27.6% · 486 companies -338.1% View
  • Caution: Accounts not fileddeadline was 31-07-2026 84 days late View
  • Positive: 4 years of growth in a rowturnover 2024: €8.1m 4 years View
  • Controlled by ANDEL 99.99% View
  • Board changedlatest change 15-09-2026 · 9 in office 1 joined · 1 left View

By topic

Financials

Financial year
2024
Turnover
€8.1m
Profit
€130,855
Solvency
-338.1%
Turnover▲ 7.0%
Net result
20182024
Go to Financials

Board & ownership

Board
9 members
Parent
ANDEL · 99.99%
Auditor
André FRANCOIS
  • OPTIMMOChair
  • Alain PrigogineDirector
  • NOLICIS ENTERPRISEDirector
  • HOLMARDirector
  • JOHN MARTINDirector

and 4 other directors

Go to Board & ownership

Timeline

Events
67
Since
1992
  1. 31-12-2024Highest result from 2018 to 2024
  2. 03-07-2024Permanent representatives: Frédéric Adriaens and Serge De…
  3. 20-06-2024Annual accounts filed
Go to Timeline

Company details

Sites
2
Legal form
Public limited company
Activity
Hotels and similar accommodationNACE 55100
Founded
05-03-1991
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

Articles of association

Provisions read
1
Purpose
“La gestion et l’exploitation d’hôtels, pouvant comprendre un restaurant, un bar, des…” (deed in French)
Go to Articles of association

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