ETS MARECHAL
ActiveSummary
The computed 12-month bankruptcy probability of ETS MARECHAL is 3.9% (moderate). The 2025 annual accounts show negative equity (-€75,375) and a net result of -€10,338. Equity is shrinking by about 20% per year across the filed financial years. The company has been active since 2023 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
- Equity
- -€75,375
- Loss
- -€10,338
Why 46raises riskLast filed accounts filed 83 days late; 3 of the last 3 late1 change of registered office in 24 monthsLiquidity: current ratio 0.00, cash €201lowers riskSize: total assets €346,951Show the evidence
Checked score
About 4 in 100 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (no NACE code, micro): better than 10% on solvency, 2% on liquidity, 14% on profitability and 20% on growth.
The bankruptcy probability was computed on 31-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
Credit check for your own amount and term
Show the recommended maximum and see how the verdict changes with amount, term and advance.
Signals
This company filed its last 3 accounts on average 80 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Annual accounts filedfinancial year 2024 · micro…
- Registered officeRegistered-office move · Director in…
Financials · financial year 2025, micro format
2025 annual accounts filed late (83 days) Filed on 22 October 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00569884.
2023 to 2025, 3 financial years
The operating result stays negative: a loss of €10,046 in 2025 against €14,821 in 2024; the loss shrinks.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Use the arrow keys on the chart for the figures per year.
Peer companies
Historical observationOf the 1,555 companies that looked in July 2024 the way this one looks now, 4.6% went bankrupt within 24 months and 91.6% are still going.
- Micro
- 2 to 5 years old
- negative equity
- a small loss
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 3.9% 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 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 0.9% |
| 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 74.5% 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 1,555 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.
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €913 | €10,950 | €8,760 | ▼ 20.0% |
| Other operating charges640/8 | €47,697 | €1,031 | €3,187 | ▲ 209% |
| Gross operating margin9900 | -€3,235 | -€2,840 | €1,901 | - |
| Operating profit (loss)9901 | -€51,844 | -€14,821 | -€10,046 | ▲ 32.2% |
| Financial charges65/66B | €59 | €312 | €292 | ▼ 6.3% |
| Recurring financial charges65 | €59 | €312 | €292 | ▼ 6.3% |
| Profit (loss) for the period before taxes9903 | -€51,904 | -€15,133 | -€10,338 | ▲ 31.7% |
| Profit (loss) for the period9904 | -€51,904 | -€15,133 | -€10,338 | ▲ 31.7% |
| Profit (loss) for the period to be appropriated9905 | -€51,904 | -€15,133 | -€10,338 | ▲ 31.7% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €368,301 | €353,363 | €346,951 | ▼ 1.8% |
| Fixed assets21/28 | €364,088 | €353,138 | €346,750 | ▼ 1.8% |
| Tangible fixed assets22/27 | €364,088 | €353,138 | €346,750 | ▼ 1.8% |
| Land and buildings22 | €364,088 | €353,138 | €346,750 | ▼ 1.8% |
| Current assets29/58 | €4,214 | €225 | €201 | ▼ 10.8% |
| Cash at bank and in hand54/58 | €4,214 | €225 | €201 | ▼ 10.8% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €368,301 | €353,363 | €346,951 | ▼ 1.8% |
| Equity10/15 | -€49,904 | -€65,037 | -€75,375 | ▼ 15.9% |
| Contributions10/11 | €2,000 | €2,000 | €2,000 | = |
| Profit (loss) carried forward14 | -€51,904 | -€67,037 | -€77,375 | ▼ 15.4% |
| Amounts payable17/49 | €418,205 | €418,400 | €422,326 | ▲ 0.9% |
| Amounts payable within one year42/48 | €418,205 | €418,400 | €422,326 | ▲ 0.9% |
| Trade debts44 | - | €195 | €2,702 | ▲ 14× |
| Suppliers440/4 | - | €195 | €2,702 | ▲ 14× |
| Other amounts payable47/48 | €418,205 | €418,205 | €419,624 | ▲ 0.3% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | -€51,904 | -€15,133 | -€10,338 | ▲ 31.7% |
| + Depreciation and write-downs630 | €913 | €10,950 | €8,760 | ▼ 20.0% |
| Operating cash flow (approximation) | -€50,991 | -€4,183 | -€1,578 | ▲ 62.3% |
| Investment in fixed assets (approximation) | - | €0 | -€2,373 | - |
| Change in cash | - | -€3,988 | -€24 | ▲ 99.4% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (3)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 22-10-2026 | 2026-00569884 |
| 31-12-2024 | micro format | 10-10-2025 | 2025-00543287 |
| 31-12-2023 | micro format | 25-10-2024 | 2024-00520561 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Mandate history
- Board
| Name | Functions and periods |
|---|---|
| AARAB Adeel |
|
| AARAB Samih |
|
Owners and capital
Capital and shareholders
- Prince Car (BE 0477.185.659) 100 shares (100%) · €2,000 in cash
The Belgian Official Gazette names shareholders only when an act mentions them; the share register itself is not published.
- 13-03-2023 Incorporation · €2,000 · 100 shares
Group and network
Connections & network
2 connected companiesThe connected companies are in the list below.
History
On 9 March 2023, ETS MARECHAL was incorporated as a private limited company by Prince Car, with a starting capital of €2,000.12 The registered office moved to Bruxelles in 2024 and to Molenbeek-Saint-Jean in 2025.34 AARAB Adeel has served as director of the company since 2023.5 Total assets went from €368,301 in 2023 to €346,951 in 2025.6
Acts, filings and financial milestones
04-02
Gazette deed
Registered officeRegistered-office move · Director in office3 facts ▸
- General meeting, 31-12-2024
- Registered-office move, Avenue de la Liberté 175, 1080 Molenbeek-Saint-Jean
- Director in office, Aarab, Adeel (director)
28-03
Gazette deed
Registered officeRegistered-office move2 facts ▸
- General meeting, 18-01-2024
- Registered-office move, Route de Lennik 451 boite 1 à 1070 Bruxelles
29-01
Gazette deed
Resignation: AARAB Samih (director)Appointment: AARAB Adeel (director) · Director discharge4 facts ▸
- General meeting, 31-12-2023
- Director resignation, AARAB Samih (director)
- Director discharge, AARAB Samih
- Director appointment, AARAB Adeel (director)
13-03
Gazette deed
IncorporationAppointment: AARAB Samih (director) · Founder · Founding capital13 facts ▸
- Founder, Prince Car
- Other provision, “representation du comparant, agissant statutairement” (deed in French)
- Incorporation, 06-03-2023
- Founding capital, €2,000
- Other provision, “frais d acte de constitution, / euros” (deed in French)
- Other provision, “plan financier, remet au notaire un plan financier justifiant le montant des capitaux propres de départ à la lumière de l’activité projetée pendant une période…” (deed in French)
- Other provision, “respect_conditions_5:3_5:5_5:8_et_arret_des_statuts, requiert le notaire de constater respect des conditions 5:3 suffisance capitaux propres,5:5 souscription in…” (deed in French)
- Director appointment, AARAB Samih (director)
- Pre-incorporation commitments, “takeover, tous engagements pris antérieurement par le comparant au nom de la société” (deed in French)
- Other provision, “exercice de l'objet-autorisations préalables, autorisations ou licences préalables ou conditions d'accès à la profession possibles” (deed in French)
- Other provision, “exactitude données d'identité, comparant confirme l'exactitude” (deed in French)
- Other provision, “copie digitale de l'acte, carte d'identité électronique ou application ItsMe” (deed in French)
- +1 further fact in this act
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 31 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
2 parcels
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21308H0162/00D000 | Brussels | 489 m² | 1 · 193 m² | - |
| 21526D0069/02A005 | Brussels | 310 m² | 1 · 243 m² | 10.9 m · 2 |
How the parcels are linked
Articles of association
What the company does
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- ETS MARECHAL
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Bruxelles-Capitale, Avenue Chanoine Roose 20 1070 Anderlecht” (deed in French)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- “Article 13 : Représentation de la société L’administrateur (chacun des administrateurs) représente la société à l'égard des tiers et en…”
- Board ruleHow the board is made up, meets and takes decisions.
- “Gratuit ou rémunéré, 1” (deed in French)“1” (deed in French)
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- “Nominatives, 100” (deed in French)
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Moitié cédant moitié acquéreurs proportionnellement au nombre acquis s’ils sont plusieurs, tenus de solliciter agrément selon mêmes…” (deed in French)
Oversight and winding up
- Statutory auditorA statutory auditor is a registered auditor who checks the accounts; small companies need not have one.
- No statutory auditor
- Dissolution ruleWhen and by whom the company can be dissolved.
- “En tout temps, assemblée générale” (deed in French)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Code, dissolution pour quelque cause et à quelque moment que ce soit” (deed in French)