Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Negative equity NBB
More debt than assets in 3 of the last 4 fiscal years.
Financials
Financial year 2025
MARTINE & Co from Liège, company number BE0474820245, closed financial year 2025 with a result of € 16,024 after tax. For that financial year MARTINE & Co recorded a gross margin of € 120,362 and equity of € -50,178. Compared with financial year 2024, the result moved from € -52,883 to € 16,024. Profitable, and profit is growing. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on November 28, 2025.
€ -50,178
▲ € 16,024 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 16,024
▲ still € 52,883 loss in 2024
Profit after tax over the fiscal year.
€ 68,918
▲ 6% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € -150,178.
People and assets in 2025
€ 94,297
▼ 5% vs 2024
Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 2,461
▲ 239% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 306,386
▲ 30% vs 2024
Loans from banks and other lenders, long and short.
€ 8,333
▼ 87% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 22,317
▲ 6% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 80,901 | € 52,543 | € 64,543 | € 120,362 | ▲ 86% |
| Profit after taxes | € -23,119 | € -60,851 | € -52,883 | € 16,024 | ▲ € 68,907 |
| Equity | € 47,532 | € -13,320 | € -66,202 | € -50,178 | ▲ € 16,024 |
| Total debts | € 197,628 | € 261,424 | € 321,463 | € 337,036 | ▲ 5% |
| Cash | € 56,118 | € 59,012 | € 65,302 | € 68,918 | ▲ 6% |
| Land & buildings | € 15,190 | € 11,673 | € 30,598 | € 29,936 | ▼ 2% |
| Retained profit | € -52,468 | € -113,320 | € -166,202 | € -150,178 | ▲ € 16,024 |
| Bank debt | € 105,975 | € 170,631 | € 235,607 | € 306,386 | ▲ 30% |
| Balance sheet total | € 245,160 | € 248,105 | € 255,261 | € 286,858 | ▲ 12% |
Key figures of MARTINE & Co, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 December 2026.
What happened to MARTINE & Co?
What happened at MARTINE & Co in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- INVETS MINGUET GESTION SA stepped down as director. NBB
- LAURENT MINGUET stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 16,024. Source: NBB ↗
- INVETS MINGUET GESTION SA became a director. NBB
- LAURENT MINGUET became a director. NBB
- New establishment in Liège. KBO
- Start of the company according to the CBE. KBO
In short
From € 23,119 loss in 2022 to € 16,024 profit in 2025.
Paid € 0 in corporate taxes since 2022.
Best year ever: 2025, with € 16,024 profit.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
Directors
According to the 2025 annual accounts
Managing director · represented by MARTINE GEILENKIRCHEN
Also active at: LE CYGNE BLANC, ALL THERMIC SOLUTIONS, LES VILLAS DE BALMORAL, FLY WIN, NEXT ENERGY, FLERON CONSTRUCT, HOLDING MINGUET MORTIER, HOSE +10 more
since 2022 · until 2028
LAURENT MINGUET
Director
Also active at: IMODAVE, LE CYGNE BLANC, ALL THERMIC SOLUTIONS, Invest Minguet Gestion, CHEVALIER, CHARL, SYSTÈMES PHOTOVOLTAÏQUES, Systèmes Photovoltaïques Wallons +46 more
since 2022 · until 2028
Establishments
Establishment units
Physical locations of this company
Bergerue 18
4000 Liège
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 1 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.
Website
Technologies
Hosting & Email
Email provider
Microsoft 365
Hosting
WIX_COM, IL
Website info
Features
Security
Details
- Company number
- 0474.820.245
- VAT number
- BE 0474.820.245
- Registered office
- Bergerue 18, 4000 Liège
- Names & denominations
- MARTINE & Co
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 16 May 2001
- Peppol
- Active · Active since 28 Oct 2025
- Contact
- martineandco.be 04 349 9000
- Activities · NACE
Detailhandel in chocolade en suikerwerk
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Overige detailhandel in voedingsmiddelen in gespecialiseerde winkels, n.e.g.