EL MARINO
ActiveEL MARINO has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €13k and a net result of €-11k. Equity is shrinking by ~20.9% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2026. Its solvency ranks better than 52% of 36377 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2024
23
/ 100
Critical▼ -4 vs 2023
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability0=
Solvency60▼-12
Growth58=
Stability100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.17 against 0.76 in 2023), and 51.8% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Sector 43
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
48.2%
Return on assets
-42.1%
Age of the figures
20 mo
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity fell accordingly. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
18192021222324
2018 to 2024 · latest year -€11k
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 28-07-2025, 3 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
3 d early
2023
26 d late
2022
53 d late
2021
4 d early
2020
25 d late
2019
41 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, micro schema
Equity
€13k▼ 46.6%
2023 · €24k
2018: €67k
2019: €61k
2020: €52k
2021: €43k
2022: €36k
2023: €24k
2018 → 2024
Total assets
€27k▼ 26.9%
2023 · €37k
2018: €161k
2019: €127k
2020: €57k
2021: €47k
2022: €41k
2023: €37k
2018 → 2024
Net result
€-11k▲ 6.1%
2023 · €-12k
2018: €-13k
2019: €-6k
2020: €-9k
2021: €-9k
2022: €-7k
2023: €-12k
2018 → 2024
Working capital
€-12k▼ 476%
2023 · €-2k
2018: €-21k
2019: €72k
2020: €27k
2021: €19k
2022: €8k
2023: €-2k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€52k-€43k▼ 17.3%€36k▼ 15.8%€24k▼ 33.2%€13k▼ 46.6%
Operating result€-7k-€-9k▼ 31.6%€-6k▲ 29.8%€-12k▼ 82.3%€-11k▲ 6.4%
Net result€-9k-€-9k▼ 4.7%€-7k▲ 24.9%€-12k▼ 77.3%€-11k▲ 6.1%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €11k in 2024 against €12k in 2023; the loss shrinks.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €27k
Fixed assets
€25k▼ 19.1%
Current assets
€2k▼ 63.9%
Equity and liabilities €27k
Equity
€13k▼ 46.6%
Debt
€14k▲ 11.5%
The debt ratio rises from 34.0% to 51.8%: debt grows while equity shrinks.
Key figures and ratios
EBITDA
€-5k▲
2023 · €-6k
Cash flow
€-6k▲
2023 · €-6k
Solvency
48.2%▼
2023 · 66.0%
Current ratio
0.17▼
2023 · 0.76
Quick ratio
0.17▼
2023 · 0.76
Debt / equity
1.08▲
2023 · 0.52
ROE
-87.4%▼
2023 · -49.7%
ROA
-42.1%▼
2023 · -32.8%
Interest coverage
-49.90▲
2023 · -59.48
Debt
€14k▲
2023 · €13k
Debt ≤ 1 year
€14k▲
2023 · €8k
Income taxes
€174▲
2023 · €165
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€37k€27k▼
Fixed assets21/28€30k€25k▼
Tangible fixed assets22/27€28k€22k▼
Land and buildings22€21k€16k▼
Plant, machinery and equipment23€8k€7k▼
Financial fixed assets28€2k€2k=
Current assets29/58€6k€2k▼
Amounts receivable within one year40/41€3k€1k▼
Trade receivables40€3k€174▼
Other amounts receivable41€0€1k▲
Cash at bank and in hand54/58€4k€1k▼
Equity and liabilities
Total equity and liabilities10/49€37k€27k▼
Equity10/15€24k€13k▼
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€6k€6k=
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Profit (loss) carried forward14€-44k€-55k▼
Amounts payable17/49€13k€14k▲
Amounts payable within one year42/48€8k€14k▲
Trade debts44€0-
Suppliers440/4€0-
Taxes, remuneration and social security45€165€339▲
Taxes450/3€165€339▲
Other amounts payable47/48€8k€14k▲
Accrued charges and deferred income492/3€4k€0▼
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€6k€6k=
Other operating charges640/8€2k€2k▼
Gross operating margin9900€-4k€-4k▲
Operating profit (loss)9901€-12k€-11k▲
Financial income75/76B-€0
Recurring financial income75-€0
Financial charges65/66B€101€105▲
Recurring financial charges65€101€105▲
Profit (loss) for the period before taxes9903€-12k€-11k▲
Income taxes67/77€165€174▲
Profit (loss) for the period9904€-12k€-11k▲
Profit (loss) for the period to be appropriated9905€-12k€-11k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-44k€-55k▼
Profit (loss) brought forward from the previous period14P€-32k€-44k▼
The notes to these accounts (12 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
28-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
26-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 26 days late
2023
22-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 53 days late
2022
27-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
25-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 25 days late
2020
10-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 41 days late
2019
31-12
Financial
Liquidity times 11current ratio 4.32
Current ratio from 0.40 to 4.32; short-term debt falls from €35k to €22k.
30-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
18-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
21-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 21 days late
2016
28-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
5 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Aalst · 1 establishment unit since 2000
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Neerhoflaan 26B9308 AalstGround area
1,034 m²
Building footprint
192 m²
Volume, LiDAR
936 m³
2 parcels, Flanders · tallest building 9.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
EL MARINO
since 20002.062.197.927
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41019A0182/00K003 | Flanders | 757 m² | 1 · 124 m² | 8.0 m · 1 fl. |
| 41029A1050/00F006 | Flanders | 277 m² | 1 · 68 m² | 9.7 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels 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
KM Projects
BE 0846.176.134
Antwerpen · Eq €13k
BEJIMA PROJECT
BE 0792.505.737
Anderlecht · Eq €13k
STELLINI
BE 1004.062.836
Kampenhout · Eq €13k
Daniel Benjamin
BE 0740.459.891
Antwerpen · Eq €13k
ELEGA CONSTRUCTION
BE 0781.793.373
Sint-Niklaas · Eq €13k
Of 7,247 companies in sector 43350 we hold annual accounts for 2,333. 1,534 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded26-04-1993
Fiscal year end31-12
Activities, NACEBEL
43350Other building finishing work
Sources
Crossroads Bank for EnterprisesNational Bank · 32 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.