MAARS BeLux
ActiveSummary
MAARS BeLux has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €995k and a net result of €101k. Equity is shrinking by ~5.3% per year across the filed fiscal years. Its solvency ranks better than 36% of 143 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability59▼-1
Solvency64▼-7
Growth33▲+6
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €65k at 30 days acceptable
Liquidity ample (current ratio 1.56 against 1.71 in 2024; short-term debt: 61.3% and cash: 17.8% of total assets), but 61.3% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
38.7%
Return on assets
3.9%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 16
Relative position
BE, all sectors
reference
Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials (NACE 16)
about 8% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 06-07-2026, 25 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
25 d early
2024
29 d early
2023
82 d late
2022
31 d late
2021
185 d late
2020
23 d early
2019
9 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€7.27M▲ 35.7%
2024 · €5.36M
2018: €7.32M
2019: €7.36M▲ +0.5% vs 2018
2020: €7.71M▲ +4.7% vs 2019highest in 8 years
2021: €5.09M▼ -33.9% vs 2020
2022: €7.08M▲ +39.0% vs 2021
2023: €5.05M▼ -28.7% vs 2022lowest in 8 years
2024: €5.36M▲ +6.2% vs 2023
2025: €7.27M▲ +35.7% vs 2024
2018 → 2025
EBIT margin
2.1%▲ 0.2pp
2024 · 1.9%
2018: 5.8%highest in 8 years
2019: 2.5%▼ -56.3% vs 2018
2020: -2.0%▼ -179% vs 2019
2021: -4.1%▼ -105% vs 2020lowest in 8 years
2022: 4.3%▲ +205% vs 2021
2023: -1.4%▼ -133% vs 2022
2024: 1.9%▲ +233% vs 2023
2025: 2.1%▲ +11.0% vs 2024
2018 → 2025
Net result
€101k▲ 16.7%
2024 · €87k
2018: €306khighest in 8 years
2019: €124k▼ -59.6% vs 2018
2020: €-192k▼ -255% vs 2019
2021: €-213k▼ -10.7% vs 2020lowest in 8 years
2022: €300k▲ +241% vs 2021
2023: €-71k▼ -124% vs 2022
2024: €87k▲ +222% vs 2023
2025: €101k▲ +16.7% vs 2024
2018 → 2025
Working capital
€881k▲ 20.2%
2024 · €733k
2018: €864k
2019: €1.19M▲ +37.1% vs 2018highest in 8 years
2020: €886k▼ -25.2% vs 2019
2021: €641k▼ -27.6% vs 2020lowest in 8 years
2022: €959k▲ +49.6% vs 2021
2023: €902k▼ -6.0% vs 2022
2024: €733k▼ -18.8% vs 2023
2025: €881k▲ +20.2% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€5.09M-€7.08M▲ 39.0%€5.05M▼ 28.7%€5.36M▲ 6.2%€7.27M▲ 35.7%
2021: €5.09M
2022: €7.08M▲ +39.0% vs 2021
2023: €5.05M▼ -28.7% vs 2022lowest in 5 years
2024: €5.36M▲ +6.2% vs 2023
2025: €7.27M▲ +35.7% vs 2024highest in 5 years
Equity€878k-€1.18M▲ 34.2%€1.11M▼ 6.1%€893k▼ 19.3%€995k▲ 11.4%
2021: €878klowest in 5 years
2022: €1.18M▲ +34.2% vs 2021highest in 5 years
2023: €1.11M▼ -6.1% vs 2022
2024: €893k▼ -19.3% vs 2023
2025: €995k▲ +11.4% vs 2024
Operating result€-210k-€306k€-71k€101k€151k▲ 50.6%
2021: €-210klowest in 5 years
2022: €306k▲ +246% vs 2021highest in 5 years
2023: €-71k▼ -123% vs 2022
2024: €101k▲ +241% vs 2023
2025: €151k▲ +50.6% vs 2024
Net result€-213k-€300k€-71k€87k€101k▲ 16.7%
2021: €-213klowest in 5 years
2022: €300k▲ +241% vs 2021highest in 5 years
2023: €-71k▼ -124% vs 2022
2024: €87k▲ +222% vs 2023
2025: €101k▲ +16.7% vs 2024
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 51% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.57M
Fixed assets
€115k ▼ 28.1%
Current assets
€2.46M ▲ 39.1%
Equity and liabilities €2.57M
Equity
€995k ▲ 11.4%
Debt
€1.58M ▲ 52.6%
Debt's share of the balance-sheet total rises from 53.6% to 61.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€197k▲
2024 · €148k
Cash flow
€147k▲
2024 · €134k
Current ratio
1.56▼
2024 · 1.71
Quick ratio
1.35▼
2024 · 1.47
Debt to equity
1.59▲
2024 · 1.16
ROE
10.2%▲
2024 · 9.7%
ROA
3.9%▼
2024 · 4.5%
Interest coverage
10.00▼
2024 · 21.89
Debt ≤ 1 year
€1.58M▲
2024 · €1.03M
Income taxes
€43k▲
2024 · €22k
Staff costs
€1.27M▲
2024 · €1.08M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 68 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.93M€2.57M▲
Fixed assets21/28€161k€115k▼
Tangible fixed assets22/27€161k€115k▼
Plant, machinery and equipment23€157k€115k▼
Furniture and vehicles24€4k€666▼
Current assets29/58€1.77M€2.46M▲
Stocks and contracts in progress3€244k€331k▲
Stocks30/36€48k€217k▲
Raw materials and consumables30/31€48k€217k▲
Contracts in progress37€196k€114k▼
Amounts receivable within one year40/41€1.17M€1.67M▲
Trade receivables40€819k€1.66M▲
Other amounts receivable41€353k€9k▼
Cash at bank and in hand54/58€347k€458k▲
Deferred charges and accrued income490/1€4k€520▼
Equity and liabilities
Total equity and liabilities10/49€1.93M€2.57M▲
Equity10/15€893k€995k▲
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€825k€927k▲
Amounts payable17/49€1.03M€1.58M▲
Amounts payable within one year42/48€1.03M€1.58M▲
Trade debts44€495k€1.41M▲
Suppliers440/4€495k€1.41M▲
Advances received on contracts in progress46€100k€40k▼
Taxes, remuneration and social security45€139k€126k▼
Taxes450/3€26k-
Remuneration and social security454/9€113k€126k▲
Other amounts payable47/48€300k-
Accrued charges and deferred income492/3-€1k
Income statement
Code20242025
Operating income70/76A€5.50M€7.25M▲
Turnover70€5.36M€7.27M▲
Change in stocks of work in progress, finished goods and contracts in progress71€99k€-81k▼
Other operating income74€47k€58k▲
Non-recurring operating income76A-€4k
Operating charges60/66A€5.40M€7.10M▲
Goods for resale, raw materials and consumables60€3.45M€5.12M▲
Purchases600/8€3.49M€5.29M▲
Change in stocks: decrease (increase)609€-43k€-168k▼
Services and other goods61€808k€659k▼
Remuneration, social security and pensions62€1.08M€1.27M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€47k€45k▼
Other operating charges640/8€9k€7k▼
Non-recurring operating charges66A€3k-
Operating profit (loss)9901€101k€151k▲
Financial income75/76B€19k€16k▼
Recurring financial income75€19k€16k▼
Income from current assets751€4k-
Other financial income752/9€16k€16k▼
Financial charges65/66B€11k€23k▲
Recurring financial charges65€11k€23k▲
Debt charges650€7k€20k▲
Other financial charges652/9€4k€3k▼
Profit (loss) for the period before taxes9903€109k€144k▲
Income taxes67/77€22k€43k▲
Taxes670/3€25k€43k▲
Tax adjustments and reversals of tax provisions77€3k-
Profit (loss) for the period9904€87k€101k▲
Profit (loss) for the period to be appropriated9905€87k€101k▲
Appropriation of the result
Profit (loss) to be appropriated9906€1.13M€927k▼
Profit (loss) brought forward from the previous period14P€1.04M€825k▼
Profit to be distributed694/7€300k-
Return on contributions (dividend)694€300k-
Social balance
Average headcount (FTE)908710.711.6▲
The notes to these accounts (36 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | €5.18M | €7.18M | €4.92M | €5.50M | €7.25M | ▲ 31.7% |
| Turnover70 | €5.09M | €7.08M | €5.05M | €5.36M | €7.27M | ▲ 35.7% |
| Change in stocks of work in progress, finished goods and contracts in progress71 | €23k | €23k | €-170k | €99k | €-81k | ▼ 182% |
| Other operating income74 | €67k | €81k | €40k | €47k | €58k | ▲ 23.6% |
| Non-recurring operating income76A | - | €2k | €2k | - | €4k | - |
| Operating charges60/66A | €5.39M | €6.88M | €4.99M | €5.40M | €7.10M | ▲ 31.3% |
| Goods for resale, raw materials and consumables60 | €3.09M | €4.65M | €2.93M | €3.45M | €5.12M | ▲ 48.4% |
| Purchases600/8 | €3.09M | €4.67M | €2.89M | €3.49M | €5.29M | ▲ 51.3% |
| Change in stocks: decrease (increase)609 | €7k | €-17k | €40k | €-43k | €-168k | ▼ 288% |
| Services and other goods61 | €1.02M | €1.03M | €798k | €808k | €659k | ▼ 18.4% |
| Remuneration, social security and pensions62 | €1.17M | €1.14M | €1.19M | €1.08M | €1.27M | ▲ 16.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €54k | €51k | €49k | €47k | €45k | ▼ 4.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €55k | €-33k | €21k | - | - | - |
| Other operating charges640/8 | €10k | €43k | €2k | €9k | €7k | ▼ 18.4% |
| Non-recurring operating charges66A | €-15k | €83 | €8 | €3k | - | - |
| Operating profit (loss)9901 | €-210k | €306k | €-71k | €101k | €151k | ▲ 50.6% |
| Financial income75/76B | €13k | €9k | €17k | €19k | €16k | ▼ 20.1% |
| Recurring financial income75 | €13k | €9k | €17k | €19k | €16k | ▼ 20.1% |
| Income from current assets751 | - | - | €1k | €4k | - | - |
| Other financial income752/9 | €13k | €9k | €15k | €16k | €16k | ▼ 2.5% |
| Financial charges65/66B | €12k | €10k | €14k | €11k | €23k | ▲ 101% |
| Recurring financial charges65 | €12k | €10k | €14k | €11k | €23k | ▲ 101% |
| Debt charges650 | €5k | €6k | €5k | €7k | €20k | ▲ 191% |
| Other financial charges652/9 | €7k | €4k | €9k | €4k | €3k | ▼ 35.8% |
| Profit (loss) for the period before taxes9903 | €-209k | €305k | €-69k | €109k | €144k | ▲ 32.7% |
| Income taxes67/77 | €4k | €5k | €2k | €22k | €43k | ▲ 96.2% |
| Taxes670/3 | €4k | €5k | €2k | €25k | €43k | ▲ 72.1% |
| Tax adjustments and reversals of tax provisions77 | - | - | - | €3k | - | - |
| Profit (loss) for the period9904 | €-213k | €300k | €-71k | €87k | €101k | ▲ 16.7% |
| Profit (loss) for the period to be appropriated9905 | €-213k | €300k | €-71k | €87k | €101k | ▲ 16.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.10M | €2.64M | €2.10M | €1.93M | €2.57M | ▲ 33.5% |
| Fixed assets21/28 | €308k | €254k | €208k | €161k | €115k | ▼ 28.1% |
| Tangible fixed assets22/27 | €308k | €254k | €208k | €161k | €115k | ▼ 28.1% |
| Plant, machinery and equipment23 | €286k | €242k | €198k | €157k | €115k | ▼ 26.7% |
| Furniture and vehicles24 | €22k | €12k | €10k | €4k | €666 | ▼ 84.0% |
| Financial fixed assets28 | €210 | - | - | - | - | - |
| Other financial fixed assets284/8 | €210 | - | - | - | - | - |
| Amounts receivable and cash guarantees285/8 | €210 | - | - | - | - | - |
| Current assets29/58 | €1.79M | €2.38M | €1.89M | €1.77M | €2.46M | ▲ 39.1% |
| Stocks and contracts in progress3 | €272k | €311k | €102k | €244k | €331k | ▲ 35.6% |
| Stocks30/36 | €28k | €45k | €5k | €48k | €217k | ▲ 348% |
| Raw materials and consumables30/31 | €28k | €45k | €5k | €48k | €217k | ▲ 348% |
| Contracts in progress37 | €243k | €266k | €97k | €196k | €114k | ▼ 41.6% |
| Amounts receivable within one year40/41 | €1.11M | €1.84M | €1.65M | €1.17M | €1.67M | ▲ 42.3% |
| Trade receivables40 | €1.06M | €1.82M | €1.32M | €819k | €1.66M | ▲ 102% |
| Other amounts receivable41 | €56k | €18k | €334k | €353k | €9k | ▼ 97.3% |
| Cash at bank and in hand54/58 | €410k | €230k | €100k | €347k | €458k | ▲ 32.1% |
| Deferred charges and accrued income490/1 | €318 | €2k | €40k | €4k | €520 | ▼ 86.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.10M | €2.64M | €2.10M | €1.93M | €2.57M | ▲ 33.5% |
| Equity10/15 | €878k | €1.18M | €1.11M | €893k | €995k | ▲ 11.4% |
| Contributions10/11 | €62k | €62k | €62k | €62k | €62k | = |
| Capital10 | €62k | €62k | €62k | €62k | €62k | = |
| Issued capital100 | €62k | €62k | €62k | €62k | €62k | = |
| Reserves13 | €6k | €6k | €6k | €6k | €6k | = |
| Non-distributable reserves130/1 | €6k | €6k | €6k | €6k | €6k | = |
| Legal reserve130 | €6k | €6k | €6k | €6k | €6k | = |
| Profit (loss) carried forward14 | €809k | €1.11M | €1.04M | €825k | €927k | ▲ 12.3% |
| Amounts payable17/49 | €1.22M | €1.46M | €993k | €1.03M | €1.58M | ▲ 52.6% |
| Amounts payable after more than one year17 | €68k | €27k | - | - | - | - |
| Financial debts170/4 | €68k | €27k | - | - | - | - |
| Credit institutions173 | €68k | €27k | - | - | - | - |
| Amounts payable within one year42/48 | €1.15M | €1.42M | €989k | €1.03M | €1.58M | ▲ 52.4% |
| Current portion of amounts payable after more than one year42 | €40k | €41k | €27k | - | - | - |
| Trade debts44 | €967k | €930k | €543k | €495k | €1.41M | ▲ 185% |
| Suppliers440/4 | €967k | €930k | €543k | €495k | €1.41M | ▲ 185% |
| Advances received on contracts in progress46 | €4k | €113k | €281k | €100k | €40k | ▼ 59.6% |
| Taxes, remuneration and social security45 | €141k | €139k | €137k | €139k | €126k | ▼ 8.9% |
| Taxes450/3 | €2k | €9k | €3k | €26k | - | - |
| Remuneration and social security454/9 | €139k | €130k | €134k | €113k | €126k | ▲ 11.7% |
| Other amounts payable47/48 | - | €200k | - | €300k | - | - |
| Accrued charges and deferred income492/3 | €4k | €9k | €4k | - | €1k | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-213k | €300k | €-71k | €87k | €101k | ▲ 16.7% |
| + Depreciation and write-downs630 | €54k | €51k | €49k | €47k | €45k | ▼ 4.4% |
| Operating cash flow (approximation) | €-158k | €351k | €-22k | €134k | €147k | ▲ 9.3% |
| Investment in fixed assets (approximation) | - | €2k | €-3k | €0 | €0 | - |
| Change in cash | - | €-179k | €-131k | €247k | €111k | ▼ 55.0% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
06-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
02-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Back to profitnet €87k
Net result €87k after one loss-making year.
21-10
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 82 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 31 days late
01-02
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 185 days late
2022
31-12
Financial
Back to profitnet €300k
Net result €300k after 2 loss-making years.
31-12
Financial
Equity above €1MEq €1.18M ▲34.2%
Equity rises from €878k to €1.18M.
2021
31-12
Financial
Weakest financial yearnet €-213k
Net result drops to €-213k, the lowest in the series; recovery starts the following year.
08-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
22-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
11-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
12-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
31-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 12 acts read
About the unread acts
We know of 12 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
12 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, Mechelen · 1 establishment unit since 1999
Ground area
2,364 m²
Building footprint
670 m²
Volume, LiDAR
6,984 m³
Parcel 12404G0443/00K002, Flanders · tallest building 12.5 m, ±4 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
MAARS BeLux
since 19992.092.308.014
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12404G0443/00K002 | Flanders | 2,364 m² | 1 · 670 m² | 12.5 m · 4 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.
Public money · subsidies and aid
Flemish government
2022 to 2023 · 2 entries · 1,069 EUR awarded · 998 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 491 EUR | 420 EUR |
| 2022 | 1 | 578 EUR | 578 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Recognised contractor
5 categoriesMAARS BeLux NV45812
Legal Entity Identifier
6994000U6K420Z2KEF97
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Identification & contact
Identification
Legal formPublic limited company
Founded09-07-1999
Fiscal year end31-12
Activities, NACEBEL 2025
16230Manufacture of other builders' carpentry and joinery
43320Joinery installation
43240Other construction installation
46831Wholesale of construction materials, general range
Scores and ratios are computed by Checked and are not a credit decision.