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CartoonistMAREC

Active
Private limited companyfounded 20241 yr activeRopeerdstraat 20, 8000 Brugge, BelgiumKBO/BCE: BE 1015.166.663
Summary

CartoonistMAREC has been active since 2024 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €16,429 and a net result of €13,429. Its solvency ranks better than 23% of 544 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).

Checked score

Score 2025
Axes
Profitability80
Solvency36
Growth-
Track record67
Bankruptcy probability, 12 months
0.3% Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days acceptable
Liquidity short (current ratio 0.28; short-term debt: 88.5% and cash: 10.2% of total assets), and 89.3% of the assets are financed with debt.
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Signals

Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 90
Relative position
BE, all sectors
reference
Arts creation and performing arts activities (NACE 90)
about 58% fewer bankruptcies
← fewer bankruptcies more bankruptcies →
raises risk · Young company
A young company has little track record yet and statistically fails more often than an established one.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 1 year 0 10 y
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025
Solvency, return and age of the figures
Solvency
10.7%
Return on assets
8.7%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 23% of 544 sector peers (2025).
NBB · sector comparison
Position among 544 sector peers
Solvency
better than 23%
← weakest strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 09-07-2026, 22 days ahead of the deadline.
NBB · 1 filing
Deviation from the deadline
2025
22 d early
← before the deadline after the deadline →
Checked, nothing found (1)
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

CartoonistMAREC was incorporated on 16 October 2024 as a Private limited company.1 The company has filed annual accounts once, for fiscal year 2025.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2025

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Financials · fiscal year 2025, abbreviated schema

Equity
€16,429
Total assets
€153,585
Net result
€13,429
Working capital
-€97,466

Turnover and EBIT margin not published: the abbreviated schema does not require them.

Balance-sheet composition
Assets €153,585
Fixed assets €115,188
Current assets €38,397
Equity and liabilities €153,585
Equity €16,429
Debt €137,156
Debt finances 89.3% of the balance-sheet total.
Key figures and ratios
2025 value
EBITDA
€58,892
Cash flow
€50,387
Current ratio
0.28
Quick ratio
0.23
Debt to equity
8.35
ROE
81.7%
ROA
8.7%
Interest coverage
25.30
Debt ≤ 1 year
€135,863
Debt > 1 year
€1,293
Income taxes
€6,206

Peer companies

Historical observation

Of the 2,390 companies that looked in July 2024 the way this one looks now, 1.2% went bankrupt within 24 months and 97% are still going.

  • Micro
  • under 2 years old
  • solvency 10 to 30%
  • a profit of 5% of the balance sheet or more
1.2% went bankrupt
2.0% stopped otherwise
97% still going

A further 0.2% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a bankruptcy probability of 0.3% over twelve months; the group does not contradict it.

How reliable is this rule?

Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,341 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.

The companies in ten equal groups, from lowest to highest expected share.
Group Expected Actual
1 0.2% 0.2%
2 0.3% 0.5%
3 0.5% 0.6%
4 0.7% 0.8%
5 0.9% 1.0%
6 1.3% 1.5%
7 1.6% 1.8%
8 1.8% 1.8%
9 3.0% 3.1%
10 5.6% 6.2%

The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.

An observation about 2,390 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.

Annual accounts
Filed annual accounts As filed with the NBB · 2025 · 44 lines
Balance sheet Code2025
Assets
Total assets20/58€153,585
Fixed assets21/28€115,188
Intangible fixed assets21€110,832
Tangible fixed assets22/27€4,357
Plant, machinery and equipment23€2,264
Other tangible fixed assets26€2,093
Current assets29/58€38,397
Stocks and contracts in progress3€6,725
Stocks30/36€6,725
Amounts receivable within one year40/41€15,044
Trade receivables40€14,990
Other amounts receivable41€54
Cash at bank and in hand54/58€15,606
Deferred charges and accrued income490/1€1,022
Equity and liabilities
Total equity and liabilities10/49€153,585
Equity10/15€16,429
Contributions10/11€3,000
Reserves13€13,429
Distributable reserves133€13,429
Amounts payable17/49€137,156
Amounts payable after more than one year17€1,293
Financial debts170/4€1,293
Amounts payable within one year42/48€135,863
Current portion of amounts payable after more than one year42€15,222
Trade debts44€701
Suppliers440/4€701
Taxes, remuneration and social security45€16,407
Taxes450/3€16,407
Other amounts payable47/48€103,533
Income statement Code2025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€36,958
Other operating charges640/8€4,450
Gross operating margin9900€63,342
Operating profit (loss)9901€21,934
Financial income75/76B€28
Recurring financial income75€28
Financial charges65/66B€2,327
Recurring financial charges65€2,327
Profit (loss) for the period before taxes9903€19,635
Income taxes67/77€6,206
Profit (loss) for the period9904€13,429
Profit (loss) for the period to be appropriated9905€13,429
Appropriation of the result
Profit (loss) to be appropriated9906€13,429
Transfer to equity691/2€13,429
To other reserves6921€13,429

The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line2025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€36,958
Other operating charges640/8€4,450
Gross operating margin9900€63,342
Operating profit (loss)9901€21,934
Financial income75/76B€28
Recurring financial income75€28
Financial charges65/66B€2,327
Recurring financial charges65€2,327
Profit (loss) for the period before taxes9903€19,635
Income taxes67/77€6,206
Profit (loss) for the period9904€13,429
Profit (loss) for the period to be appropriated9905€13,429
Line2025
Assets
Total assets20/58€153,585
Fixed assets21/28€115,188
Intangible fixed assets21€110,832
Tangible fixed assets22/27€4,357
Plant, machinery and equipment23€2,264
Other tangible fixed assets26€2,093
Current assets29/58€38,397
Stocks and contracts in progress3€6,725
Stocks30/36€6,725
Amounts receivable within one year40/41€15,044
Trade receivables40€14,990
Other amounts receivable41€54
Cash at bank and in hand54/58€15,606
Deferred charges and accrued income490/1€1,022
Equity and liabilities
Total equity and liabilities10/49€153,585
Equity10/15€16,429
Contributions10/11€3,000
Reserves13€13,429
Distributable reserves133€13,429
Amounts payable17/49€137,156
Amounts payable after more than one year17€1,293
Financial debts170/4€1,293
Amounts payable within one year42/48€135,863
Current portion of amounts payable after more than one year42€15,222
Trade debts44€701
Suppliers440/4€701
Taxes, remuneration and social security45€16,407
Taxes450/3€16,407
Other amounts payable47/48€103,533
Line2025
Profit (loss) for the period9904€13,429
+ Depreciation and write-downs630€36,958
Operating cash flow (approximation)€50,387

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

2026
09-07
NBB filing Annual accounts filed
fiscal year 2025 · abbreviated schema
NBB filing
0 of 1 act read
About the unread acts

We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.

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Directors · office · real estate

Directors
No directors read yet: 0 of 1 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Brugge · 1 establishment unit since 2024
seat establishment The establishment unit on the map
Ground area
136 m²
Building footprint
57 m²
Volume, LiDAR
224 m³
Parcel 31806F0225/00A000, Flanders · tallest building 7.3 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
CartoonistMAREC
Ropeerdstraat 20, 8000 BruggeRetail trade
since 20242.365.880.379
1 parcel
Flanders 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
31806F0225/00A000 Flanders 136 m² 1 · 57 m² 7.3 m · 1 fl.
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.

Similar companies · same sector, comparable size

Of 8,307 companies in this sector we hold annual accounts for 603. 406 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector

Company details

Identification
Legal formPrivate limited company
Founded16-10-2024
Fiscal year end31-12
Activities, NACEBEL 2025
90201Performing arts by independent artists
E-invoicing
Reachable via Peppol
Peppol ID 0208:1015166663
Also 9925:BE1015166663
Registered 15-09-2025

If you follow this company, Checked tells you the day it leaves the Peppol register.

Register as of 30 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.