MARTINS-BAT
ActiveSummary
The computed 12-month bankruptcy probability of MARTINS-BAT is 1.7% (moderate). The 2024 annual accounts show equity of €101k and a net result of €10k. Equity is growing by ~17.4% per year across the filed fiscal years. Its solvency ranks better than 95% of 3550 sector peers (fiscal year 2024). The company has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability70▲+13
Solvency100=
Growth60▼-8
Track record100
Bankruptcy probability, 12 months
1.7%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €5k at 30 days only on tighter terms
Liquidity ample (current ratio 11.68 against 11.99 in 2023; short-term debt: 8.1% of total assets), and 8.1% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk
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
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 31-12-2025, 153 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
153 d late
2023
61 d late
2022
153 d late
2021
153 d late
2020
153 d late
2019
153 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, full schema
Turnover
€245k▼ 22.3%
2023 · €315k
2018: €119klowest in 7 years
2019: €120k▲ +1.0% vs 2018
2020: €232k▲ +93.9% vs 2019
2021: €285k▲ +22.6% vs 2020
2022: €260k▼ -8.7% vs 2021
2023: €315k▲ +21.2% vs 2022highest in 7 years
2024: €245k▼ -22.3% vs 2023
2018 → 2024
EBIT margin
6.6%▲ 3.6pp
2023 · 3.0%
2018: 19.2%
2019: 0.5%▼ -97.2% vs 2018lowest in 7 years
2020: 17.5%▲ +3196% vs 2019
2021: 22.5%▲ +28.5% vs 2020highest in 7 years
2022: 12.7%▼ -43.5% vs 2021
2023: 3.0%▼ -76.7% vs 2022
2024: 6.6%▲ +122% vs 2023
2018 → 2024
Net result
€10k
2023 · €-105
2018: €22k
2019: €395▼ -98.2% vs 2018
2020: €36k▲ +9039% vs 2019
2021: €62k▲ +71.0% vs 2020highest in 7 years
2022: €23k▼ -62.7% vs 2021
2023: €-105▼ -100% vs 2022lowest in 7 years
2024: €10k▲ +9647% vs 2023
2018 → 2024
Working capital
€95k▲ 5.9%
2023 · €90k
2018: €28klowest in 7 years
2019: €31k▲ +10.5% vs 2018
2020: €47k▲ +51.0% vs 2019
2021: €77k▲ +64.2% vs 2020
2022: €89k▲ +15.7% vs 2021
2023: €90k▲ +0.5% vs 2022
2024: €95k▲ +5.9% vs 2023highest in 7 years
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Turnover€232k-€285k▲ 22.6%€260k▼ 8.7%€315k▲ 21.2%€245k▼ 22.3%
2020: €232klowest in 5 years
2021: €285k▲ +22.6% vs 2020
2022: €260k▼ -8.7% vs 2021
2023: €315k▲ +21.2% vs 2022highest in 5 years
2024: €245k▼ -22.3% vs 2023
Equity€47k-€79k▲ 67.9%€92k▲ 16.6%€92k▼ 0.1%€101k▲ 10.9%
2020: €47klowest in 5 years
2021: €79k▲ +67.9% vs 2020
2022: €92k▲ +16.6% vs 2021
2023: €92k▼ -0.1% vs 2022
2024: €101k▲ +10.9% vs 2023highest in 5 years
Operating result€41k-€64k▲ 57.5%€33k▼ 48.4%€9k▼ 71.7%€16k▲ 72.9%
2020: €41k
2021: €64k▲ +57.5% vs 2020highest in 5 years
2022: €33k▼ -48.4% vs 2021
2023: €9k▼ -71.7% vs 2022lowest in 5 years
2024: €16k▲ +72.9% vs 2023
Net result€36k-€62k▲ 71.0%€23k▼ 62.7%€-105€10k
2020: €36k
2021: €62k▲ +71.0% vs 2020highest in 5 years
2022: €23k▼ -62.7% vs 2021
2023: €-105▼ -100% vs 2022lowest in 5 years
2024: €10k▲ +9647% vs 2023
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 73% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €110k
Fixed assets
€6k ▲ 292%
Current assets
€104k ▲ 6.2%
Equity and liabilities €110k
Equity
€101k ▲ 10.9%
Debt
€9k ▲ 9.0%
Debt's share of the balance-sheet total falls from 8.2% to 8.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€19k▲
2023 · €11k
Cash flow
€12k▲
2023 · €2k
Current ratio
11.68▼
2023 · 11.99
Debt to equity
0.09▼
2023 · 0.09
ROE
9.8%▲
2023 · -0.1%
ROA
9.0%▲
2023 · -0.1%
Interest coverage
16.73▲
2023 · 15.71
Debt ≤ 1 year
€9k▲
2023 · €8k
Income taxes
€5k▼
2023 · €9k
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 · 2024 against 2023 · 39 lines
Balance sheet
Code20232024
Assets
Total assets20/58€100k€110k▲
Fixed assets21/28€2k€6k▲
Tangible fixed assets22/27€2k€6k▲
Plant, machinery and equipment23€2k€986▼
Furniture and vehicles24-€5k
Current assets29/58€98k€104k▲
Amounts receivable within one year40/41€71k€94k▲
Trade receivables40€28k€508▼
Other amounts receivable41€43k€93k▲
Cash at bank and in hand54/58€17k-
Deferred charges and accrued income490/1€11k€11k=
Equity and liabilities
Total equity and liabilities10/49€100k€110k▲
Equity10/15€92k€101k▲
Contributions10/11€13k€13k=
Capital10€13k€13k=
Issued capital100€19k€19k=
Uncalled capital101€5k€5k=
Profit (loss) carried forward14€78k€88k▲
Amounts payable17/49€8k€9k▲
Amounts payable within one year42/48€8k€9k▲
Financial debts43-€9k
Credit institutions430/8-€9k
Trade debts44€8k-
Suppliers440/4€8k-
Income statement
Code20232024
Turnover70€315k€245k▼
Non-recurring operating income76A€14€1k▲
Goods, raw materials, services and sundry goods60/61€302k€227k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2k€2k▲
Other operating charges640/8€2k€1k▼
Gross operating margin9900€13k€20k▲
Operating profit (loss)9901€9k€16k▲
Financial charges65/66B€702€1k▲
Recurring financial charges65€702€1k▲
Profit (loss) for the period before taxes9903€9k€15k▲
Income taxes67/77€9k€5k▼
Profit (loss) for the period9904€-105€10k▲
Profit (loss) for the period to be appropriated9905€-105€10k▲
Appropriation of the result
Profit (loss) to be appropriated9906€78k€88k▲
Profit (loss) brought forward from the previous period14P€78k€78k▼
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €232k | €285k | €260k | €315k | €245k | ▼ 22.3% |
| Non-recurring operating income76A | - | €1k | €7k | €14 | €1k | ▲ 9,788% |
| Goods, raw materials, services and sundry goods60/61 | - | €219k | €231k | €302k | €227k | ▼ 25.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3k | €2k | €2k | €2k | €2k | ▲ 40.8% |
| Other operating charges640/8 | - | €2k | €2k | €2k | €1k | ▼ 42.2% |
| Gross operating margin9900 | €45k | €67k | €37k | €13k | €20k | ▲ 49.1% |
| Operating profit (loss)9901 | €41k | €64k | €33k | €9k | €16k | ▲ 72.9% |
| Financial charges65/66B | - | €2k | €989 | €702 | €1k | ▲ 57.9% |
| Recurring financial charges65 | €2k | €2k | €989 | €702 | €1k | ▲ 57.9% |
| Profit (loss) for the period before taxes9903 | €39k | €62k | €32k | €9k | €15k | ▲ 74.1% |
| Income taxes67/77 | €3k | - | €9k | €9k | €5k | ▼ 42.0% |
| Profit (loss) for the period9904 | €36k | €62k | €23k | €-105 | €10k | ▲ 9,647% |
| Profit (loss) for the period to be appropriated9905 | €36k | €62k | €23k | €-105 | €10k | ▲ 9,647% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €51k | €82k | €92k | €100k | €110k | ▲ 10.8% |
| Fixed assets21/28 | €4k | €3k | €2k | €2k | €6k | ▲ 292% |
| Tangible fixed assets22/27 | €4k | €3k | €2k | €2k | €6k | ▲ 292% |
| Plant, machinery and equipment23 | - | €3k | €2k | €2k | €986 | ▼ 38.1% |
| Furniture and vehicles24 | - | - | - | - | €5k | - |
| Current assets29/58 | €47k | €79k | €90k | €98k | €104k | ▲ 6.2% |
| Amounts receivable within one year40/41 | €30k | €36k | €49k | €71k | €94k | ▲ 32.7% |
| Trade receivables40 | - | €18k | €19k | €28k | €508 | ▼ 98.2% |
| Other amounts receivable41 | - | €18k | €30k | €43k | €93k | ▲ 118% |
| Cash at bank and in hand54/58 | €17k | €43k | €30k | €17k | - | - |
| Deferred charges and accrued income490/1 | - | - | €11k | €11k | €11k | = |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €51k | €82k | €92k | €100k | €110k | ▲ 10.8% |
| Equity10/15 | €47k | €79k | €92k | €92k | €101k | ▲ 10.9% |
| Contributions10/11 | €13k | €13k | €13k | €13k | €13k | = |
| Capital10 | - | €13k | €13k | €13k | €13k | = |
| Issued capital100 | - | €19k | €19k | €19k | €19k | = |
| Uncalled capital101 | - | €5k | €5k | €5k | €5k | = |
| Profit (loss) carried forward14 | €34k | €65k | €78k | €78k | €88k | ▲ 12.8% |
| Amounts payable17/49 | €5k | €4k | €212 | €8k | €9k | ▲ 9.0% |
| Amounts payable after more than one year17 | €4k | €2k | - | - | - | - |
| Financial debts170/4 | - | €2k | - | - | - | - |
| Amounts payable within one year42/48 | €312 | €2k | €212 | €8k | €9k | ▲ 9.0% |
| Financial debts43 | - | - | - | - | €9k | - |
| Credit institutions430/8 | - | - | - | - | €9k | - |
| Trade debts44 | €312 | €2k | €212 | €8k | - | - |
| Suppliers440/4 | - | €2k | €212 | €8k | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €36k | €62k | €23k | €-105 | €10k | ▲ 9,647% |
| + Depreciation and write-downs630 | €3k | €2k | €2k | €2k | €2k | ▲ 40.8% |
| Operating cash flow (approximation) | €39k | €63k | €25k | €2k | €12k | ▲ 687% |
| Investment in fixed assets (approximation) | - | €-744 | €-523 | €-1k | €-7k | ▼ 530% |
| Change in cash | - | €26k | €-13k | €-13k | - | - |
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
2025
31-12
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 153 days late
2024
31-12
Financial
Back to profitnet €10k
Net result €10k after one loss-making year.
31-12
Financial
Equity above €100kEq €101k ▲10.9%
Equity rises from €92k to €101k.
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 61 days late
2023
31-12
Financial
Weakest financial yearnet €-105
Net result drops to €-105, the lowest in the series; recovery starts the following year.
31-12
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 153 days late
2022
31-12
Financial
Liquidity times 9current ratio 422.08
Current ratio from 44.50 to 422.08; short-term debt falls from €2k to €212.
31-12
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 153 days late
2021
31-12
Financial
Highest result since 2018net €62k ▲71%
Operating result €64k, net result €62k, both a record.
31-12
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 153 days late
2020
31-12
Financial
Liquidity times 31current ratio 151.99
Current ratio from 4.90 to 151.99; short-term debt falls from €8k to €312.
31-12
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 153 days late
Show earlier events
2019
19-09
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 50 days late
2018
30-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 61 days late
2017
30-09
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 61 days late
2014
31-12
NBB filing
Annual accounts filed
fiscal year 2013 · full schema · 153 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Vorst · 1 establishment unit since 2011
Ground area
1,894 m²
Building footprint
682 m²
Volume, LiDAR
5,046 m³
Parcel 21382C0028/00G003, Brussels · tallest building 8.8 m, ±3 floors. Linked by address, not a title deed.
223
companies at this address
See who is registered here
1 establishment unit
MARTINS-BAT
since 20112.301.432.688
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21382C0028/00G003 | Brussels | 1,894 m² | 1 · 682 m² | 8.8 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 11,135 companies in sector 43910 we hold annual accounts for 5,489. 4,809 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 (pre-2019)
Founded16-09-2011
Fiscal year end31-12
Activities, NACEBEL 2025
43910Bricklaying and masonry work
43310Plastering work
43320Joinery installation
43343Specialised construction activities
43422Screed work
81220Other building cleaning and industrial cleaning
Scores and ratios are computed by Checked and are not a credit decision.