ACTIVE

MARTHE

Export PDF

Financial year 2025 · closed on 31/12/2025

Net result

169,2 k €

+18.4% YoY

Gross margin

309,6 k €

-1.3% YoY

Equity

5,5 M €

+3.2% YoY

What does MARTHE do?

MARTHE is a Public limited company incorporated in 1987. Its main activity is: Rental and operating of own or leased real estate. Its registered office is in Nieuwpoort.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0430.959.221

Incorporation

15/04/1987

Legal form

Public limited company

Registered office

Albert I laan 159
8620 Nieuwpoort · FlandreSee on map

Contributed capital

2 218 803,00 €

Latest accounts

31/12/2025

Activities (NACE)

68201Rental and operating of own or leased real estate· main

Joint committees (3)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

View the BCE/KBO Public Search record →

Health score

Available with a Rovalta subscriptionTry for 7 days

Recommended credit limit

✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	309,6 k €	-1.3%	313,7 k €	+42.0%	220,9 k €	-71.7%	781,4 k €	-59.9%	1,9 M €	+868%	201,1 k €	+54.2%	130,5 k €	+3.5%	126,1 k €	-13.0%	144,9 k €	-7.7%	157 k €	-15.8%	186,4 k €	-29.2%	263,2 k €	+2.1%	257,7 k €	-2.0%	263,1 k €	+6.8%	246,3 k €	+20.5%	204,4 k €	+1.9%	200,6 k €	+5.7%	189,9 k €	-36.5%	299,2 k €	-49.4%	590,8 k €
EBITDA	294,7 k €	+8.6%	271,2 k €	+42.8%	190 k €	-74.8%	754,4 k €	-60.7%	1,9 M €	+1009%	173,1 k €	+72.6%	100,3 k €	+1.1%	99,2 k €	-21.3%	126,1 k €	-0.3%	126,5 k €	-5.0%	133,2 k €	-26.7%	181,8 k €	-15.1%	214,1 k €	-2.6%	219,8 k €	+6.7%	206 k €	+24.5%	165,4 k €	+2.0%	162,2 k €	+21.3%	133,7 k €	-45.1%	243,5 k €	-54.7%	537,3 k €
Operating result	207,8 k €	-8.8%	228 k €	+88.6%	120,8 k €	-83.4%	726,4 k €	-61.2%	1,9 M €	+1567%	112,3 k €	+104%	55,1 k €	+23.1%	44,8 k €	+55.8%	28,7 k €	-61.3%	74,3 k €	+19.0%	62,4 k €	-44.3%	112 k €	-13.1%	128,9 k €	-14.0%	149,9 k €	+21.6%	123,3 k €	+80.4%	68,3 k €	+3.0%	66,3 k €	+18.8%	55,8 k €	-66.0%	164 k €	-65.1%	470,1 k €
Net result	169,2 k €	+18.4%	142,9 k €	+151%	57 k €	-90.3%	590,6 k €	-57.8%	1,4 M €	+2215%	60,5 k €	+171%	22,3 k €	-13.7%	25,9 k €	+82.9%	14,2 k €	-64.0%	39,4 k €	+47.0%	26,8 k €	-64.4%	75,2 k €	-17.6%	91,3 k €	-16.7%	109,6 k €	+21.7%	90 k €	+92.9%	46,7 k €	+24.0%	37,6 k €	-13.2%	43,4 k €	-60.6%	110,2 k €	-64.3%	308,3 k €
Balance sheet
Equity	5,5 M €	+3.2%	5,3 M €	+4.0%	5,1 M €	-0.1%	5,1 M €	+11.8%	4,6 M €	+43.0%	3,2 M €	+1.1%	3,2 M €	-0.1%	3,2 M €	+0.8%	3,1 M €	+0.5%	3,1 M €	-0.5%	3,1 M €	+0.9%	3,1 M €	-1.8%	3,2 M €	-1.3%	3,2 M €	+100%	1,6 M €	+5.9%	1,5 M €	-1.3%	1,5 M €	+37.7%	1,1 M €	+4.1%	1,1 M €	+11.5%	960,8 k €
Total assets	7,6 M €	+1.0%	7,5 M €	+28.4%	5,8 M €	-4.9%	6,1 M €	-11.9%	7 M €	+29.1%	5,4 M €	+5.0%	5,1 M €	+8.0%	4,8 M €	-1.3%	4,8 M €	+22.7%	3,9 M €	-1.3%	4 M €	-2.2%	4,1 M €	+1.8%	4 M €	+8.4%	3,7 M €	+68.2%	2,2 M €	+1.9%	2,2 M €	-0.8%	2,2 M €	+17.7%	1,8 M €	-1.7%	1,9 M €	+1.2%	1,9 M €
Cash	9 k €	-56.4%	20,7 k €	-29.7%	29,5 k €	+65.8%	17,8 k €	-15.3%	21 k €	+12.7%	18,6 k €	+176%	6,8 k €	-42.6%	11,8 k €	+1016%	1,1 k €	-86.4%	7,8 k €	-46.1%	14,4 k €	-66.5%	43,1 k €	-3.5%	44,6 k €	+2.2%	43,6 k €	-59.0%	106,6 k €	+86.0%	57,3 k €	-8.7%	62,8 k €	-49.0%	123,1 k €	+102%	60,9 k €	-45.8%	112,4 k €
Debts	2,1 M €	-4.3%	2,2 M €	+201%	723,5 k €	-29.2%	1 M €	-57.3%	2,4 M €	+9.7%	2,2 M €	+10.4%	2 M €	+24.0%	1,6 M €	-5.1%	1,7 M €	+121%	760,2 k €	-2.2%	776,9 k €	-14.5%	909,1 k €	+14.4%	795 k €	+74.1%	456,6 k €	-19.4%	566,2 k €	-7.8%	614,1 k €	+0.2%	612,9 k €	-13.1%	705,1 k €	-9.3%	777,1 k €	-10.9%	872,2 k €
Other
Workforce	–		–		–		–		–		–		–		–		–		–		0,7 ETP	+16.7%	0,6 ETP	+20.0%	0,5 ETP	0.0%	0,5 ETP	-16.7%	0,6 ETP	+20.0%	0,5 ETP	0.0%	0,5 ETP	+25.0%	0,4 ETP	+33.3%	0,3 ETP	0.0%	0,3 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 33 ended

Active mandates

LIGHTHOUSE INVEST

Mandate · 0543.746.267

Represented by Koen De Jonckheere

Active

Théophile De Jonckheere

Mandate

Active

Yves De Jonkcheere

Mandate

Active

Ended mandates

LIGHTHOUSE INVEST

Director · since 18 mars 2016 · until 02 mai 2021 · 0543.746.267

Represented by Koen De Jonckheere

Ended

LIGHTHOUSE INVEST

Managing director · since 18 mars 2016 · until 02 mai 2022 · 0543.746.267

Represented by Koen De Jonckheere

Ended

LIGHTHOUSE INVEST

Managing director · since 18 mars 2016 · until 02 mai 2025 · 0543.746.267

Represented by Koen De Jonckheere

Ended

Gustave De Jonckheere

Director · since 14 juin 2011 · until 02 mai 2017

Ended

At this address

Other companies at this address

Company	CBE no.
BYR-Belgo● Active	0722.566.262
SILVERSHOP● Active	0882.383.858

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	24/06/2026	28/07/2025	31/07/2024	31/07/2023	24/08/2022	15/06/2021
General meeting	02/05/2026	02/05/2025	02/05/2024	02/05/2023	02/05/2022	02/05/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

Looking for more information about this company?

Try for 7 days

Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	02/05/2026	24/06/2026	Dutch	PDF
Abridged model	31/12/2024	02/05/2025	28/07/2025	Dutch	PDF
Abridged model	31/12/2023	02/05/2024	31/07/2024	Dutch	PDF
Abridged model	31/12/2022	02/05/2023	31/07/2023	Dutch	PDF
Abridged model	31/12/2021	02/05/2022	24/08/2022	Dutch	PDF
Abridged model	31/12/2020	02/05/2021	15/06/2021	Dutch	PDF
Abridged model	31/12/2019	04/05/2020	01/07/2020	Dutch	PDF
Abridged model	31/12/2018	02/05/2019	13/05/2019	Dutch	PDF
Abridged model	31/12/2017	02/05/2018	08/05/2018	Dutch	PDF
Abridged model	31/12/2016	02/05/2017	15/05/2017	Dutch	PDF
Abridged model	31/12/2015	02/05/2016	26/05/2016	Dutch	PDF
Abridged model	31/12/2014	18/05/2015	26/06/2015	Dutch	PDF
Abridged model	31/12/2013	19/05/2014	20/05/2014	Dutch	PDF
Abridged model	31/12/2012	27/06/2013	26/07/2013	Dutch	PDF
Abridged model	31/12/2011	02/05/2012	27/09/2012	Dutch	PDF
Abridged model	31/12/2010	14/06/2011	15/07/2011	Dutch	PDF
Abridged model	31/12/2009	23/06/2010	19/07/2010	Dutch	PDF
Abridged model	31/12/2008	16/06/2009	29/07/2009	Dutch	PDF
Abridged model	31/12/2007	02/05/2008	26/05/2008	Dutch	PDF
Abridged model	31/12/2006	12/10/2007	26/10/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 k€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 33 ended

Active mandates

LIGHTHOUSE INVEST

Mandate · 0543.746.267

Represented by Koen De Jonckheere

Active

Théophile De Jonckheere

Mandate

Active

Yves De Jonkcheere

Mandate

Active

Ended mandates

LIGHTHOUSE INVEST

Director · since 18 mars 2016 · until 02 mai 2021 · 0543.746.267

Represented by Koen De Jonckheere

Ended

LIGHTHOUSE INVEST

Managing director · since 18 mars 2016 · until 02 mai 2022 · 0543.746.267

Represented by Koen De Jonckheere

Ended

LIGHTHOUSE INVEST

Managing director · since 18 mars 2016 · until 02 mai 2025 · 0543.746.267

Represented by Koen De Jonckheere

Ended

Gustave De Jonckheere

Director · since 14 juin 2011 · until 02 mai 2017

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Restructuring24/02/2025
RUBRIEK EINDE (STOPZETTING, INTREKKING STOPZETTING, NIETIGHEID, GER. AK., GERECHTELIJKE REORGANISATIE, ENZ... - KAPITAAL - AANDELEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring07/11/2024
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Mandates11/07/2019
ONTSLAGEN - BENOEMINGEN
PDF
Mandates09/10/2017
ONTSLAGEN - BENOEMINGEN
PDF
Restructuring18/08/2016
MAATSCHAPPELIJKE ZETEL - KAPITAAL - AANDELEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring27/05/2016
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Mandates11/04/2016
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares05/10/2012
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 2025169,2 k €↑
2024
Annual accounts 2024142,9 k €↑
2023
Annual accounts 202357 k €↓
2022
Annual accounts 2022590,6 k €↓
2021
Annual accounts 20211,4 M €↑
2020
Annual accounts 202060,5 k €↑
2019
Annual accounts 201922,3 k €↓
2018
Annual accounts 201825,9 k €↑
2017
Annual accounts 201714,2 k €↓
2016
Annual accounts 201639,4 k €↑
2015
Annual accounts 201526,8 k €↓
2014
Annual accounts 201475,2 k €↓
2013
Annual accounts 201391,3 k €↓
2012
Annual accounts 2012109,6 k €↑
2011
Annual accounts 201190 k €↑
2010
Annual accounts 201046,7 k €↑
2009
Annual accounts 200937,6 k €↓
2008
Annual accounts 200843,4 k €↓
2007
Annual accounts 2007110,2 k €↓
2006
Annual accounts 2006308,3 k €
15/04/1987
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

MARTHE

Overview

What does MARTHE do?

Trend over 20 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline