MARTINET (0417.773.753): financials and annual accounts

MARTINET

Aalst ·KBO/BCE: BE 0417.773.753

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
Balance sheet: assets
Total assets`20/58`	209,861	280,490	289,598	330,905	319,222	358,695	399,953	392,006	357,806	389,897	407,427	459,449	484,638	531,020	563,765	553,126	606,044	662,699	720,379
Fixed assets`21/28`	187,806	248,394	252,946	296,101	293,818	338,244	381,008	364,342	329,147	371,471	390,228	430,606	452,234	502,053	539,905	532,556	578,977	621,844	672,505
Intangible fixed assets`21`	-	-	-	-	-	0	515	1,030	0	-	-	1,496	2,992	4,488	6,324	8,160	9,996	11,832	11,968
Tangible fixed assets`22/27`	187,731	248,319	252,872	296,027	293,743	338,169	380,418	363,237	329,072	371,396	390,228	429,001	449,133	497,456	533,472	523,037	567,622	608,653	659,178
Land and buildings`22`	114,078	157,480	189,277	208,382	224,189	259,497	292,168	322,864	301,437	336,591	357,318	393,130	395,637	429,784	463,930	491,763	525,115	554,165	579,088
Plant, machinery and equipment`23`	29,968	41,686	52,040	51,072	31,636	35,046	33,840	25,490	17,935	21,089	18,101	21,926	28,119	29,670	18,915	17,590	19,842	25,311	30,771
Furniture and vehicles`24`	15,056	11,003	9,757	18,443	14,659	8,944	8,305	11,964	5,102	7,437	6,850	719	988	2,451	3,914	5,588	8,571	4,086	11,379
Leasing and similar rights`25`	28,630	37,944	1,385	17,510	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other tangible fixed assets`26`	-	206	413	619	826	1,032	1,238	1,445	1,651	1,858	2,064	2,270	2,477	2,684	2,890	3,096	3,303	3,509	5,566
Financial fixed assets`28`	75	75	75	75	75	75	75	75	75	75	-	109	109	109	109	1,359	1,359	1,359	1,359
Current assets`29/58`	22,054	32,096	36,652	34,804	25,404	20,451	18,945	27,664	28,659	18,426	17,199	28,843	32,404	28,967	23,860	20,570	27,067	40,855	47,874
Stocks and contracts in progress`3`	10,500	15,500	21,550	20,400	15,650	15,500	13,575	13,550	13,700	13,500	13,600	21,422	20,761	20,655	13,274	13,550	13,735	14,025	13,592
Stocks`30/36`	10,500	15,500	21,550	20,400	15,650	15,500	13,575	13,550	13,700	13,500	13,600	15,422	14,761	14,655	13,274	13,550	13,735	14,025	13,592
Contracts in progress`37`	-	-	-	-	-	-	-	-	-	-	-	6,000	6,000	6,000	-	-	-	-	-
Amounts receivable within one year`40/41`	8,836	9,438	9,844	8,954	5,859	1,986	1,440	30	10,628	628	63	3,418	2,264	915	3,547	2,147	5,629	1,163	9,131
Trade receivables`40`	8,836	9,438	9,844	8,856	3,633	1,986	1,429	30	2,218	628	63	3,039	1,468	339	2,724	1,576	4,250	-	8,742
Other amounts receivable`41`	-	-	-	98	2,226	-	11	-	8,410	-	-	379	796	576	823	571	1,379	1,163	389
Cash at bank and in hand`54/58`	-	2,982	-	1,674	805	-	-	6,861	307	1,708	650	-	5,551	3,319	3,352	1,782	4,420	7,808	24,803
Deferred charges and accrued income`490/1`	2,718	4,177	5,258	3,776	3,090	2,965	3,930	7,223	4,024	2,590	2,886	4,003	3,828	4,078	3,687	3,091	3,283	17,859	348
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	209,861	280,490	289,598	330,905	319,222	358,695	399,953	392,006	357,806	389,897	407,427	459,449	484,638	531,020	563,765	553,126	606,044	662,699	720,379
Equity`10/15`	-204,379	-173,683	-117,279	-82,011	-86,025	-85,907	-82,544	-82,982	-67,089	-41,337	-44,046	-39,494	-22,711	-22,933	-23,331	-24,780	-25,979	-27,099	-13,605
Contributions`10/11`	128,592	128,592	128,592	128,592	128,592	-	128,592	128,592	128,592	128,592	128,592	128,592	128,592	128,592	128,592	128,592	128,592	128,592	128,592
Issued capital`100`	-	-	-	-	-	-	128,592	128,592	128,592	128,592	128,592	128,592	128,592	128,592	128,592	128,592	128,592	128,592	128,592
Contributions outside capital`11`	-	-	-	-	128,592	128,592	-	-	-	-	-	-	-	-	-	-	-	-	-
Share premium`1100/10`	-	-	-	-	-	128,592	-	-	-	-	-	-	-	-	-	-	-	-	-
Other`1109/19`	-	-	-	-	128,592	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Reserves`13`	-	-	-	-	-	2,800	2,800	2,800	2,800	2,800	2,800	2,800	2,800	2,800	2,800	2,800	2,800	2,800	2,800
Tax-exempt reserves`132`	-	-	-	-	-	2,800	2,800	2,800	2,800	2,800	2,800	2,800	2,800	2,800	2,800	2,800	2,800	2,800	2,800
Profit (loss) carried forward`14`	-332,971	-302,275	-245,871	-210,603	-214,617	-217,299	-213,936	-214,374	-198,481	-172,729	-175,438	-170,886	-154,103	-154,325	-154,723	-156,172	-157,371	-158,491	-144,997
Provisions and deferred taxes`16`	-	-	-	-	-	-	-	-	-	10,674	10,674	33,174	33,175	33,175	33,174	29,620	26,329	23,284	20,469
Provisions for liabilities and charges`160/5`	-	-	-	-	-	-	-	-	-	10,674	10,674	33,174	33,175	33,175	33,174	29,620	26,329	23,284	20,469
Amounts payable`17/49`	414,240	454,173	406,877	412,916	405,247	444,602	482,497	474,988	424,895	420,560	440,799	465,769	474,174	520,778	553,922	548,286	605,694	666,514	713,515
Amounts payable after more than one year`17`	260,289	297,108	272,619	252,328	280,898	255,384	308,825	162,712	174,718	203,432	233,743	260,567	262,819	287,530	310,911	299,205	336,627	377,060	415,351
Financial debts`170/4`	48,298	96,999	72,919	93,573	280,898	255,384	178,473	162,712	174,718	203,432	233,743	260,567	262,819	287,530	310,911	299,205	336,627	377,060	415,351
Other amounts payable`178/9`	211,991	200,109	199,700	158,754	-	-	130,352	-	-	-	-	-	-	-	-	-	-	-	-
Amounts payable within one year`42/48`	153,951	157,065	134,258	160,589	124,349	189,218	173,672	312,276	250,177	217,128	207,056	203,477	211,355	218,918	243,011	249,081	269,067	289,454	298,164
Current portion of amounts payable after more than one year`42`	58,974	55,667	54,664	46,924	36,778	31,631	45,479	39,775	43,960	40,755	38,240	41,138	30,555	28,325	40,945	46,275	45,318	45,540	53,280
Financial debts`43`	23,558	28,784	31,581	31,302	31,944	38,528	34,895	18,247	53,887	53,807	54,805	48,865	54,279	52,188	46,504	39,821	33,448	41,374	25,133
Credit institutions`430/8`	23,558	28,784	31,581	31,302	31,944	38,528	34,895	18,247	53,887	53,807	54,805	48,865	54,279	52,188	46,504	39,821	33,448	41,374	25,133
Trade debts`44`	46,721	42,886	28,663	68,237	46,065	64,318	57,771	52,327	82,905	63,107	30,521	34,524	53,216	42,229	60,128	42,902	31,846	45,241	55,110
Suppliers`440/4`	46,721	42,886	28,663	68,237	46,065	64,318	57,771	52,327	82,905	63,107	30,521	34,524	53,216	42,229	60,128	42,902	31,846	45,241	55,110
Advances received on contracts in progress`46`	-	-	350	-	-	-	-	-	-	-	614	-	-	-	-	-	-	-	-
Taxes, remuneration and social security`45`	20,698	16,728	19,001	14,126	9,562	13,810	19,756	21,322	12,653	9,112	16,275	22,224	22,464	15,822	16,109	14,849	23,136	19,711	21,117
Taxes`450/3`	6,898	3,903	7,277	3,751	1,916	6,584	7,268	9,121	5,478	1,244	5,340	2,800	5,614	4,374	3,418	3,366	9,983	6,081	4,353
Remuneration and social security`454/9`	13,800	12,824	11,723	10,375	7,646	7,226	12,488	12,201	7,175	7,868	10,935	19,424	16,850	11,448	12,691	11,483	13,153	13,630	16,764
Other amounts payable`47/48`	4,000	13,000	-	-	0	40,931	15,771	180,605	56,772	50,347	66,601	56,726	50,841	80,354	79,325	105,234	135,319	137,588	143,524
Accrued charges and deferred income`492/3`	-	-	-	-	-	-	-	-	-	-	-	1,725	-	14,330	-	-	-	-	-
Income statement
Turnover`70`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	439,294	420,646	446,423
Non-recurring operating income`76A`	-	-	7,805	2,237	-	-	-	-	-	1,991	-	1,116	735	-	1,500	-	-	-	58,700
Gross operating margin`9900`	191,201	169,065	171,152	172,249	86,768	169,536	224,790	191,835	164,424	195,863	162,698	179,317	184,823	181,788	162,763	162,867	180,936	179,706	159,036
Goods, raw materials, services and sundry goods`60/61`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	258,358	240,940	302,386
Remuneration, social security and pensions`62`	130,074	132,507	115,634	84,116	41,301	90,175	129,517	129,233	133,020	123,365	105,846	106,276	99,046	93,211	77,244	71,589	84,954	88,018	109,061
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	76,319	75,839	78,393	71,054	63,983	75,558	79,954	59,707	49,677	49,051	58,411	56,203	56,078	55,282	54,346	58,310	57,641	63,172	70,176
Provisions for liabilities and charges: additions (uses and reversals)`635/8`	-	-	-	-	-	-	-	-	-10,674	-	-22,500	-	-	-	3,554	3,291	3,045	2,814	2,599
Other operating charges`640/8`	2,499	3,047	1,082	1,673	4,125	1,026	785	2,126	1,104	1,183	1,833	7,724	2,582	2,896	2,167	1,997	1,248	5,927	1,595
Operating profit (loss)`9901`	-17,691	-42,327	-23,957	15,406	-22,641	2,777	14,534	769	-8,703	22,264	19,108	9,114	27,117	30,399	25,452	27,680	34,048	19,775	-24,395
Financial income`75/76B`	0	11	-	0	34,332	9,762	11	5	1	-	28	15	7	16	13	3	81	139	7
Recurring financial income`75`	0	11	-	0	18	2	11	5	1	-	28	15	7	16	13	3	81	139	7
Non-recurring financial income`76B`	-	-	-	-	34,314	9,760	-	-	-	-	-	-	-	-	-	-	-	-	-
Financial charges`65/66B`	12,575	13,526	10,597	10,696	10,821	15,162	13,413	15,843	16,501	21,077	23,459	26,793	27,389	30,017	25,516	26,484	33,009	33,408	37,436
Recurring financial charges`65`	12,575	13,526	10,597	10,696	10,821	15,162	13,413	15,843	16,501	21,077	23,459	26,793	27,389	30,017	25,516	26,484	33,009	33,408	37,436
Profit (loss) for the period before taxes`9903`	-30,266	-55,842	-34,554	4,710	870	-2,623	1,132	-15,069	-25,203	3,178	-4,323	-16,548	470	398	1,449	1,199	1,120	-13,494	-3,124
Income taxes`67/77`	430	562	714	697	988	740	694	824	549	469	229	235	248	-	-	-	-	-	-
Profit (loss) for the period`9904`	-30,696	-56,404	-35,268	4,014	-118	-3,363	438	-15,893	-25,752	2,709	-4,552	-16,783	222	398	1,449	1,199	1,120	-13,494	-3,124
Transfer from tax-exempt reserves`789`	-	-	-	-	2,800	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Profit (loss) for the period to be appropriated`9905`	-30,696	-56,404	-35,268	4,014	2,682	-3,363	438	-15,893	-25,752	2,709	-4,552	-16,783	222	398	1,449	1,199	1,120	-13,494	-3,124
Appropriation of the result
Profit (loss) to be appropriated`9906`	-332,971	-302,275	-245,871	-210,603	-214,617	-217,299	-213,936	-214,374	-198,481	-172,729	-175,438	-170,886	-154,103	-154,325	-154,723	-156,172	-157,371	-158,491	-144,997
Profit (loss) brought forward from the previous period`14P`	-302,275	-245,871	-210,603	-214,617	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Social balance sheet
Average staff (FTE)`9087`	4.1	4.3	3.6	3.8	4.7	4.7	4.6	3.9	3.7	4	3.9	3.4	4	3.2	3.1	3.1	3.4	3.5	4
Hours worked`1013`	5,668	6,367	5,444	-	2,786	5,521	7,430	6,260	6,222	6,291	5,736	5,206	5,148	4,915	4,587	4,067	4,653	5,866	7,582
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Financial year	Type	Filed	Reference	Document
30-06-2025	micro format	19-01-2026	2026-00011248	PDF
30-06-2024	micro format	20-12-2024	2024-00624664	PDF
30-06-2023	micro format	21-12-2023	2023-00536078	PDF
30-06-2022	micro format	30-01-2023	2023-00016131	PDF
30-06-2021	micro format	24-01-2022	2022-02400328	PDF
30-06-2020	micro format	29-01-2021	2021-03600339	PDF
30-06-2019	micro format	31-12-2019	2019-77900040	PDF
30-06-2018	micro format	28-12-2018	2018-76100178	PDF
30-06-2017	micro format	19-01-2018	2018-01900453	PDF
30-06-2016	abbreviated format	30-12-2016	2016-72200271	PDF
30-06-2015	abbreviated format	29-12-2015	2015-70700525	PDF
30-06-2014	abbreviated format	16-12-2014	2014-69100014	PDF
30-06-2013	abbreviated format	29-11-2013	2013-67000255	PDF
30-06-2012	abbreviated format	04-12-2012	2012-65300376	PDF
30-06-2011	abbreviated format	24-01-2012	2012-01200474	PDF
30-06-2010	abbreviated format	13-12-2010	2010-62800106	PDF
30-06-2009	abbreviated format	06-01-2010	2010-00300387	PDF
30-06-2008	abbreviated format	30-01-2009	2009-02600148	PDF
30-06-2007	abbreviated format	19-12-2007	2007-83500264	PDF
30-06-2006	abbreviated format	28-11-2006	2006-88301521	PDF
30-06-2005	abbreviated format	08-12-2005	2005-89002519	PDF
30-06-2004	abbreviated format	07-12-2004	2004-84200272	PDF
30-06-2003	abbreviated format	16-12-2003	2003-83700636	PDF
30-06-2002	abbreviated format	30-12-2002	2002-79604855	PDF
30-06-2001	abbreviated format	25-01-2002	2002-02604231	PDF
30-06-2000	abbreviated format	24-11-2000	2000-72300263	PDF
30-06-1999	abbreviated format	09-12-1999	1999-62301552	PDF
30-06-1998	abbreviated format	10-12-1998	1998-60902436	PDF
30-06-1997	abbreviated format	28-11-1997	1997-54602152	PDF
30-06-1996	abbreviated format	19-12-1996	1996-53901824	PDF
30-06-1995	abbreviated format	08-01-1996	1996-00403097	PDF
30-06-1994	abbreviated format	05-01-1995	1995-00105294	PDF
30-06-1993	abbreviated format	26-01-1994	1994-01501260	PDF
30-06-1992	abbreviated format	12-02-1993	1993-02203453	PDF
30-06-1991	abbreviated format	08-04-1992	1992-03901538	PDF
31-12-1989	abbreviated format	07-12-1990	1990-29004328	PDF
31-12-1988	abbreviated format	09-11-1989	1989-25403837	PDF
31-12-1987	abbreviated format	14-09-1988	1988-20403000	PDF
31-12-1986	abbreviated format	30-07-1987	1987-18903798	PDF
31-12-1985	abbreviated format	06-11-1986	1986-42701189	PDF
31-12-1984	full format	17-10-1985	1985-35901499	PDF
31-12-1983	unclassified schema	11-09-1984	1984-13000016	PDF
31-12-1982	unclassified schema	20-09-1983	1983-12201525	PDF
31-12-1981	unclassified schema	06-12-1982	1982-13600267	PDF
31-12-1980	unclassified schema	26-01-1982	1982-00302370	PDF
31-12-1979	unclassified schema	24-09-1981	1981-11401264	PDF
31-12-1978	unclassified schema	26-06-1979	1979-06500327	PDF

Year	Entries	Awarded	Paid
2025	1	€1,000	€1,000
2024	1	€1,000	€1,000
2022	2	€5,201	€5,201

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
EBITDA	58,629	33,511	54,436	86,461	41,342	78,335	94,488	60,476	40,974	71,315	77,519	65,317	83,195	85,681	79,798	85,990	91,689	82,947	45,781
Cash flow	45,623	19,435	43,125	75,068	63,865	72,195	80,392	43,814	23,925	51,760	53,859	39,420	56,300	55,680	55,795	59,509	58,761	49,678	67,052
Investment in fixed assets	15,731	71,286	41,482	73,339	19,557	32,794	97,527	94,902	7,353	30,294	18,142	34,575	6,259	17,430	62,945	11,889	14,774	12,511	24,875
Change in cash	-	-	-	869	-	-	-	6,554	-1,401	1,058	-	-	2,232	-33	1,570	-2,638	-3,388	-16,995	-
Working capital	-131,897	-124,969	-97,607	-125,785	-98,945	-168,767	-154,727	-284,612	-221,518	-198,702	-189,857	-174,634	-178,951	-189,951	-219,151	-228,511	-242,000	-248,599	-250,290
EBIT margin	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7.8%	4.7%	-5.5%
Solvency	-97.4%	-61.9%	-40.5%	-24.8%	-26.9%	-23.9%	-20.6%	-21.2%	-18.8%	-10.6%	-10.8%	-8.6%	-4.7%	-4.3%	-4.1%	-4.5%	-4.3%	-4.1%	-1.9%
Current ratio	0.14	0.20	0.27	0.22	0.20	0.11	0.11	0.09	0.11	0.08	0.08	0.14	0.15	0.13	0.10	0.08	0.10	0.14	0.16
Quick ratio	0.08	0.11	0.11	0.09	0.08	0.03	0.03	0.05	0.06	0.02	0.02	0.04	0.06	0.04	0.04	0.03	0.05	0.09	0.11
ROA	-14.6%	-20.1%	-12.2%	1.2%	0.0%	-0.9%	0.1%	-4.1%	-7.2%	0.7%	-1.1%	-3.7%	0.0%	0.1%	0.3%	0.2%	0.2%	-2.0%	-0.4%
Interest coverage	4.66	2.48	5.14	8.08	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Customer credit	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4 days	1 day	7 days
Supplier credit	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	45 days	69 days	67 days

Item	30-06-2025	30-06-2024	30-06-2023	30-06-2022
Employees at the balance-sheet date	4	5	4	5
full-time	1	1	1	2
part-time	3	4	3	3
in full-time equivalents	3.7	4.6	3.7	4.3
Average over the year, in full-time equivalents	4.1	4.3	3.5	3.8
On a permanent contract	3	5	3	5
Joined	94	36	76	-
Left	95	35	77	-
Training hours	-	-	425	-

MARTINET

Annual accounts 2025

Money flows

Balance sheet

Change in equityin euro

Change in cash

Position in the sector

Solvency-97.4%

Current ratio0.14

Return on assets-14.6%

Staff

Staff cost per FTE€31,725

Joined and left-1

Filed annual accounts

Filings

Subsidies and aid

Flemish government 2022 to 2025, 4 entries, €7,201 awarded, €7,201 paid

Key figures and ratios

Social balance sheet

Investments

Insights on MARTINET

Next steps

Item	30-06-2025	30-06-2024	30-06-2023	30-06-2022
Tangible fixed assets	€15,731	€71,286	€41,482	€73,339
Depreciation and write-downs of the year	€76,319	€75,839	€78,393	€71,054