Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Tight liquidity NBB
Cash and receivables cover 49 % of short-term debt in 2025; threshold 65 %.
-
Shrinking team NBB
FTE fell two years in a row, from 4.5 to 3.8.
Financials
Financial year 2025
MARTIBEL from Erquelinnes, company number BE0476208137, closed financial year 2025 with a result of € 368 after tax. For that financial year MARTIBEL recorded a gross margin of € 233,122 and equity of € 119,781. Compared with financial year 2024, the result moved from € -17,676 to € 368. Profitable, and profit is growing. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on August 15, 2026.
€ 119,781
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 368
▲ still € 17,676 loss in 2024
Profit after tax over the fiscal year.
€ 8,346
▲ 119% 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 € 44,781.
People and assets in 2025
3.8
▼ 0.2 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 202,699
▼ 13% vs 2024
€ 53,300 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 9,956
▼ 47% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 96,176
▼ 29% vs 2024
€ 8,843 is repaid this year. At this pace the long-term loan is gone in ≈ 11 years.
€ 59,841
▲ 39% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 14,477
▲ 11% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 275,801 | € 305,645 | € 241,534 | € 233,122 | ▼ 3% |
| Profit after taxes | € 1,500 | € 29,930 | € -17,676 | € 368 | ▲ € 18,044 |
| Equity | € 107,160 | € 137,089 | € 119,413 | € 119,781 | |
| Total debts | € 334,405 | € 240,596 | € 191,697 | € 181,095 | ▼ 6% |
| Cash | € 40,198 | € 49,967 | € 3,812 | € 8,346 | ▲ 119% |
| Land & buildings | € 11,205 | € 11,205 | € 11,205 | € 11,205 | |
| Retained profit | € 32,160 | € 62,089 | € 44,413 | € 44,781 | ▲ 1% |
| Bank debt | € 122,147 | € 113,582 | € 135,001 | € 96,176 | ▼ 29% |
| Balance sheet total | € 441,565 | € 377,685 | € 311,110 | € 300,875 | ▼ 3% |
| Employees (FTE) | 4.5 | 4.5 | 4 | 3.8 | ▼ 0.2 |
Key figures of MARTIBEL, 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 July 2027.
What happened to MARTIBEL?
What happened at MARTIBEL in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 368. filed late Source: NBB ↗
- New establishment in Erquelinnes. KBO
- New establishment in Erquelinnes. KBO
- Start of the company according to the CBE. KBO
In short
From € 1,500 profit in 2022 to € 368 profit in 2025.
Paid € 2,412 in corporate taxes since 2022.
Best year ever: 2023, with € 29,930 profit.
On average € 61,300 of value added per employee in 2025.
Management
Behind MARTIBEL are JEAN-LUC MOERNAUT, PATRICE MOERNAUT and WILLIAM MOERNAUT.
Directors
According to the 2025 annual accounts
JEAN-LUC MOERNAUT
Director
PATRICE MOERNAUT
Director
WILLIAM MOERNAUT
Director
Establishments
Establishment units
Physical locations of this company
Route de Mons 47
6560 Erquelinnes
Waressaix 11
6560 Erquelinnes
Active since 30 November 2001
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
Self-hosted
Hosting
PLANETHOSTER-8 - PlanetHoster, CA
Website info
Features
Security
Details
- Company number
- 0476.208.137
- VAT number
- BE 0476.208.137
- Registered office
- Route de Mons 47, 6560 Erquelinnes
- Names & denominations
- MARTIBEL
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 30 November 2001
- Peppol
- Active · Active since 13 Oct 2025
- Contact
- martibel.be [email protected] 071555066
- Activities · NACE
Schrijnwerk
Vervaardiging van keukenmeubelen
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