Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Two loss years in a row NBB
Negative result in 2023 and 2024.
Financials
Financial year 2024
ANDEL from Rixensart, company number BE0432489841, closed financial year 2024 with a result of € -384,216 after tax. Compared with financial year 2023, the result moved from € -3.4 million to € -384,216. The company made a loss. The company holds a healthy buffer. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on July 3, 2025.
€ 13.1 million
▼ 3% vs 2023
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -384,216
▲ 89 % less loss than in 2023
Profit after tax over the fiscal year.
€ 1.4 million
▲ € 1.1 million vs 2023
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -7.8 million.
Debts at end 2024
€ 8.5 million
€ 1.8 million is repaid this year. At this pace the long-term loan is gone in ≈ 5 years.
€ 90,547
▲ 42% vs 2023
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 261 days on average.
€ 7,218
▼ 61% vs 2023
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
| 2021 | 2022 | 2023 | 2024 | Change 2023 → 2024 | |
|---|---|---|---|---|---|
| Profit after taxes | € -584,268 | € -613,945 | € -3,408,175 | € -384,216 | ▲ € 3 million |
| Equity | € 14,975,811 | € 16,861,867 | € 13,453,692 | € 13,069,476 | ▼ 3% |
| Total debts | € 9,890,257 | € 9,736,644 | € 10,042,139 | € 9,995,124 | |
| Cash | € 22,892 | € 41,437 | € 298,755 | € 1,404,206 | ▲ € 1.1 million |
| Retained profit | € -3,441,244 | € -4,055,189 | € -7,463,364 | € -7,847,580 | ▼ € 384,216 |
| Bank debt | € 9,730,002 | € 9,550,419 | € 8,533,157 | € 8,548,231 | |
| Balance sheet total | € 24,866,068 | € 26,598,510 | € 23,495,830 | € 23,064,599 | ▼ 2% |
Key figures of ANDEL, fiscal years 2021 to 2024, from the annual accounts filed with the National Bank of Belgium.The annual account for fiscal year 2025 has not been filed yet; it was expected before 31 July 2026.
What happened to ANDEL?
What happened at ANDEL in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Alexia MARTIN stepped down as director. NBB
- John C. MARTIN stepped down as director. NBB
- Anthony R. MARTIN stepped down as director. NBB
- VANDER PUTTEN PHILIPPE SCS stepped down as director. NBB
- Alain PRIGOGINE stepped down as director. NBB
- RE-INVEST SA stepped down as director. NBB
- SPARAXIS SA stepped down as director. NBB
- Adeline SIMONT stepped down as director. NBB
In short
From € 584,268 loss in 2021 to € 384,216 loss in 2024.
Management
The stake of KNK, OPTIMMO, JOHN MARTIN, VALIMMO, HOLMAR comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
ANDELThe shares are held by KNK (16.7%), OPTIMMO (15.7%), JOHN MARTIN (15.4%), VALIMMO (6.9%) and HOLMAR (0%). It owns 100% of MARTIN'S HOTELS S.A., 100% of MARTIN'S BRUSSELS S.A. and 59.9% of MARTIN'S BRUGGE S.A. itself.
Directors
According to the 2024 annual accounts
Alexia MARTIN
Director
since 2023 · until 2026
John C. MARTIN
Managing director
since 2023 · until 2026
Anthony R. MARTIN
Director
since 2023 · until 2026
Director · represented by Philippe VANDER PUTTEN
since 2023 · until 2026
Alain PRIGOGINE
Director
Also active at: MARTIN'S BRUGGE, MARTIN'S HOTELS, OPTIMMO, MARTIN'S BRUSSELS, VALIMMO, INVESTMENT CONSULTING CY, GEN IMMO
since 2023 · until 2026
Director · represented by Brigitte GOUDER DE BEAUREGARD
Also active at: CETIM PROJECTS, CETIM, CETIM Student RE
since 2023 · until 2026
Director · represented by Isabelle DEVOS
Also active at: C.P. Bourg, A.M.B., Jean Goldschmidt International, Ateliers Pierre Cerfontaine, Floridienne, Fonderies J. Marichal Ketin et Cie, JUNGLING, MEBF +224 more
since 2023 · until 2026
Adeline SIMONT
Director
Also active at: BELGIAN LAND, Belgian Land Properties, GLIDA IMMO, SEB Development, Sources Development, Plantin Development, LES COLLINES DE WAVRE, Bassem Certificates +1 more
since 2023 · until 2026
Director · represented by Frédéric ADRIAENS
Also active at: Resorza, MARTIN'S BRUGGE, MARTIN'S HOTELS, MARIMMO, MARTIN'S BRUSSELS, BELGIAN BREWERS - BELGISCHE BROUWERS - BRASSEURS BELGES, GEN IMMO
since 2023 · until 2026
Jacques MUZARD
Director
since 2023 · until 2026
Director · represented by Francis PENNEQUIN
Also active at: MARTIN'S BRUGGE, MARTIN'S HOTELS, OPTIMMO, MARTIN'S BRUSSELS, VALIMMO, GEN IMMO
since 2023 · until 2026
Director · represented by Nicolas LEMAIRE
Owns 15.1% via JOHN MARTIN
Also active at: Resorza, MARTIN'S BRUGGE, MARTIN'S HOTELS, MARIMMO, MARTIN'S BRUSSELS, GEN IMMO, ANTWERPSE BROUW COMPAGNIE
since 2023 · until 2026
Chairman of the board · represented by Christian DE GOUSSENCOURT
Also active at: CERBUX INVEST
since 2023 · until 2026
Director · represented by Jonathan MARTIN
since 2023 · until 2026
Shareholders
Participations
Establishments
Establishment units
Physical locations of this company
Avenue Herbert Hoover 20
1332 Rixensart
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 5 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0432.489.841
- VAT number
- BE 0432.489.841
- Registered office
- Avenue Herbert Hoover 20, 1332 Rixensart
- Names & denominations
- ANDEL
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 23 October 1987
- Peppol
- Active · Active since 20 Nov 2020