ACTIVE

Marma

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Financial year 2025 · closed on 31/12/2025

Net result

168,2 k €

-36.2% YoY

Revenue

28,1 M €

+0.2% YoY

Equity

1,4 M €

+14.2% YoY

Workforce

14,6 ETP

-13.1% YoY

What does Marma do?

Marma is a Private limited company incorporated in 1997. Its main activity is: Wholesale of other food, including fish, crustaceans and molluscs. Its registered office is in Tienen. It employs on average 14,6 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0461.931.222

Incorporation

19/11/1997

Legal form

Private limited company

Registered office

Fred Chaffartlaan 11
3300 Tienen · FlandreSee on map

Contributed capital

868 965,44 €

Latest accounts

31/12/2025

Average workforce

14,6 ETP

Activities (NACE)

46389Wholesale of other food, including fish, crustaceans and molluscs· main 46389Wholesale of other food, including fish, crustaceans and molluscs 46392Non-specialised wholesale of food, beverages and tobacco 46392Non-specialised wholesale of food, beverages and tobacco 51384Air transport 47110Retail sale in non-specialised stores with food, beverages or tobacco predominating+2

Joint committees (3)

Signals

ProfitableGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

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Health score

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✦ 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
Revenue	28,1 M €	+0.2%	28 M €	+20.9%	23,2 M €	+13.9%	20,4 M €		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–
EBITDA	1,2 M €	+49.4%	789,7 k €	+8813%	-9,1 k €	-104%	236,6 k €	+74.3%	135,7 k €	-42.4%	235,8 k €	+247%	-160,5 k €	-255%	103,6 k €	+49.1%	69,5 k €	-67.8%	215,5 k €	-59.7%	534,4 k €	+27.4%	419,6 k €	-11.4%	473,7 k €	-12.6%	542,1 k €	+16.1%	467,1 k €	-13.8%	541,9 k €	+22.4%	442,9 k €	+58.3%	279,8 k €	+69.5%	165,1 k €	-58.7%	399,6 k €
Operating result	341,4 k €	-9.8%	378,3 k €	+218%	-319,9 k €	-1950%	17,3 k €	-27.2%	23,7 k €	-85.2%	160,9 k €	+166%	-243,9 k €	-1862%	13,8 k €	+142%	-33,3 k €	-141%	81,6 k €	-80.3%	414,1 k €	+38.0%	300,1 k €	-21.1%	380,1 k €	-19.3%	470,8 k €	+28.9%	365,3 k €	-19.5%	453,5 k €	+26.1%	359,5 k €	+91.4%	187,8 k €	+47.9%	127 k €	-65.7%	370,4 k €
Net result	168,2 k €	-36.2%	263,4 k €	+172%	-365,2 k €	-289%	-93,8 k €	-1874%	5,3 k €	-16.4%	6,3 k €	+102%	-294,8 k €	-801%	-32,7 k €	-3036%	1,1 k €	-95.7%	25,7 k €	-90.2%	261,7 k €	+41.4%	185,1 k €	-35.8%	288,4 k €	-2.5%	295,8 k €	+24.0%	238,4 k €	-22.1%	305,9 k €	+27.7%	239,6 k €	+37.7%	174,1 k €	+78.0%	97,8 k €	-60.6%	248,3 k €
Balance sheet
Equity	1,4 M €	+14.2%	1,2 M €	+28.5%	924,4 k €	-28.3%	1,3 M €	-6.8%	1,4 M €	+0.4%	1,4 M €	+0.5%	1,4 M €	-17.7%	1,7 M €	-1.9%	1,7 M €	+0.1%	1,7 M €	+1.5%	1,7 M €	+18.6%	1,4 M €	+289%	363 k €	-71.4%	1,3 M €	+30.4%	971,7 k €	-6.0%	1 M €	-15.8%	1,2 M €	+5.1%	1,2 M €	+17.5%	993,6 k €	+1.8%	975,8 k €
Total assets	8,8 M €	-6.6%	9,4 M €	+5.7%	8,9 M €	+64.2%	5,4 M €	+5.8%	5,1 M €	+7.6%	4,8 M €	+9.3%	4,4 M €	+15.9%	3,8 M €	+18.2%	3,2 M €	-7.6%	3,5 M €	+6.4%	3,2 M €	+12.8%	2,9 M €	+6.6%	2,7 M €	+21.7%	2,2 M €	-8.9%	2,4 M €	+18.3%	2,1 M €	+3.9%	2 M €	+17.8%	1,7 M €	+19.3%	1,4 M €	+11.4%	1,3 M €
Cash	251,2 k €	+126%	111,1 k €	-33.0%	165,8 k €	+288%	42,7 k €	-42.3%	74,1 k €	-44.7%	133,9 k €	-2.8%	137,8 k €	+17.7%	117,1 k €	+368%	25 k €	-92.5%	333,3 k €	+16.1%	287,1 k €	+1.3%	283,5 k €	-32.3%	418,5 k €	+19.2%	351 k €	-13.6%	406,5 k €	+104%	199,1 k €	-53.1%	424,8 k €	+109%	203,5 k €	-61.9%	533,8 k €	+10.0%	485,5 k €
Debts	7,4 M €	-9.4%	8,2 M €	+2.4%	8 M €	+92.9%	4,2 M €	+14.0%	3,6 M €	+7.0%	3,4 M €	+13.4%	3 M €	+42.4%	2,1 M €	+41.2%	1,5 M €	-15.0%	1,8 M €	+13.4%	1,6 M €	+6.1%	1,5 M €	-37.0%	2,3 M €	+144%	951,3 k €	-35.0%	1,5 M €	+42.9%	1 M €	+37.9%	742,7 k €	+44.3%	514,9 k €	+23.4%	417,3 k €	+43.2%	291,5 k €
Other
Workforce	14,6 ETP	-13.1%	16,8 ETP	+15.9%	14,5 ETP	+14.2%	12,7 ETP	+16.5%	10,9 ETP		–		0,0 ETP		–		–		14,1 ETP	+6.0%	13,3 ETP	+9.9%	12,1 ETP	+19.8%	10,1 ETP	+17.4%	8,6 ETP	+4.9%	8,2 ETP	+36.7%	6,0 ETP	-7.7%	6,5 ETP	-3.0%	6,7 ETP	-11.8%	7,6 ETP	+2.7%	7,4 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 9 ended

Active mandates

Lien Portauwe

Director · since 24 juin 2024

Active

Nick Portauwe

Director · since 24 juin 2024

Active

Steve Portauwe

Director · since 24 juin 2024

Active

Ended mandates

Steve Portauwe

Managing director · since 24 juin 2024

Ended

Lien Portauwe

Director · since 18 septembre 2023

Ended

Marcel Portauwe

Director · since 18 septembre 2023 · until 24 juin 2024

Ended

Nick Portauwe

Director · since 18 septembre 2023

Ended

At this address

Other companies at this address

Company	CBE no.
BTWE ECO VAT GROUP● Active	1011.042.282
EcoProperties● Active	1007.017.574
EcoRetail● Active	0799.405.803
MARMA LOGISTICS● Active	0878.987.670

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full 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	03/07/2026	07/07/2025	31/07/2024	09/10/2023	29/07/2022	29/08/2021
General meeting	26/06/2026	30/06/2025	30/07/2024	30/09/2023	27/06/2022	28/06/2021
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

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Filings

Annual accounts filings

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	26/06/2026	03/07/2026	Dutch	PDF
Full model	31/12/2024	30/06/2025	07/07/2025	Dutch	PDF
Full model	31/12/2023	30/07/2024	31/07/2024	Dutch	PDF
Full model	31/12/2022	30/09/2023	09/10/2023	Dutch	PDF
Abridged model	31/12/2021	27/06/2022	29/07/2022	Dutch	PDF
Abridged model	31/12/2020	28/06/2021	29/08/2021	Dutch	PDF
Abridged model	31/12/2019	22/06/2020	29/06/2020	Dutch	PDF
Abridged model	31/12/2018	27/05/2019	28/08/2019	Dutch	PDF
Abridged model	31/12/2017	28/05/2018	14/08/2018	Dutch	PDF
Abridged model	31/12/2016	12/06/2017	22/08/2017	Dutch	PDF
Abridged model	31/12/2015	23/05/2016	26/08/2016	Dutch	PDF
Abridged modelCorrection	31/12/2014	26/05/2015	06/10/2015	Dutch	PDF
Abridged model	31/12/2014	26/05/2015	31/08/2015	Dutch	PDF
Abridged model	31/12/2013	24/08/2014	28/08/2014	Dutch	PDF
Abridged model	31/12/2012	20/08/2013	27/08/2013	Dutch	PDF
Abridged model	31/12/2011	10/08/2012	31/08/2012	Dutch	PDF
Abridged model	31/12/2010	14/06/2011	25/08/2011	Dutch	PDF
Abridged model	31/12/2009	16/08/2010	23/08/2010	Dutch	PDF
Abridged model	31/12/2008	07/07/2009	20/07/2009	Dutch	PDF
Abridged model	31/12/2007	25/08/2008	29/08/2008	Dutch	PDF
Abridged model	31/12/2006	03/08/2007	30/08/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 5 M€

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 · 9 ended

Active mandates

Lien Portauwe

Director · since 24 juin 2024

Active

Nick Portauwe

Director · since 24 juin 2024

Active

Steve Portauwe

Director · since 24 juin 2024

Active

Ended mandates

Steve Portauwe

Managing director · since 24 juin 2024

Ended

Lien Portauwe

Director · since 18 septembre 2023

Ended

Marcel Portauwe

Director · since 18 septembre 2023 · until 24 juin 2024

Ended

Nick Portauwe

Director · since 18 septembre 2023

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates26/09/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates26/08/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates27/10/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates25/09/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING
PDF
Capital / shares02/05/2014
KAPITAAL - AANDELEN
PDF
Capital / shares21/11/2005
KAPITAAL - AANDELEN - ALGEMENE VERGADERING - 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 2025168,2 k €↓
2024
Annual accounts 2024263,4 k €↑
2023
Annual accounts 2023-365,2 k €↓
2022
Annual accounts 2022-93,8 k €↓
2021
Annual accounts 20215,3 k €↓
2020
Annual accounts 20206,3 k €↑
2019
Annual accounts 2019-294,8 k €↓
2018
Annual accounts 2018-32,7 k €↓
2017
Annual accounts 20171,1 k €↓
2016
Annual accounts 201625,7 k €↓
2015
Annual accounts 2015261,7 k €↑
2014
Annual accounts 2014185,1 k €↓
2013
Annual accounts 2013288,4 k €↓
2012
Annual accounts 2012295,8 k €↑
2011
Annual accounts 2011238,4 k €↓
2010
Annual accounts 2010305,9 k €↑
2009
Annual accounts 2009239,6 k €↑
2008
Annual accounts 2008174,1 k €↑
2007
Annual accounts 200797,8 k €↓
2006
Annual accounts 2006248,3 k €
19/11/1997
IncorporationPrivate 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

Marma

Overview

What does Marma 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