MAERSCHALCK PASCAL
ActiveSummary
MAERSCHALCK PASCAL has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €81,972 and a net result of €14,167. Equity is growing by ~12.3% per year across the filed fiscal years. Its solvency ranks better than 64% of 28184 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability82▲+41
Solvency84▼-4
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6,000 at 30 days acceptable
Liquidity ample (current ratio 1.9 against 3.57 in 2024; short-term debt: 18.9% and cash: 21% of total assets), and 40.5% of the assets are financed with debt.
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Signals
Four 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
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← 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
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
59.5%
Return on assets
10.3%
Age of the figures
9 mo
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 30-07-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
17 d early
2023
2 d early
2022
11 d early
2021
25 d late
2020
30 d late
2019
89 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 16 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€81,972▲ 20.9%
2024 · €67,805
Total assets
€137,790▲ 28.5%
2024 · €107,224
Net result
€14,167
2024 · -€13,977
Working capital
€23,489▼ 49.1%
2024 · €46,119
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€13,409€16,651€21,632▲ 29.9%-€11,630€18,117
Net result-€14,377€13,587€14,125▲ 4.0%-€13,977€14,167
Equity€54,070▼ 21.0%€67,657▲ 25.1%€81,782▲ 20.9%€67,805▼ 17.1%€81,972▲ 20.9%
Total assets€84,287▼ 21.2%€94,513▲ 12.1%€145,386▲ 53.8%€107,224▼ 26.2%€137,790▲ 28.5%
Debt€30,216▼ 21.6%€26,856▼ 11.1%€63,604▲ 137%€39,419▼ 38.0%€55,818▲ 41.6%
Working capital€27,325▼ 28.9%€47,025▲ 72.1%€51,745▲ 10.0%€46,119▼ 10.9%€23,489▼ 49.1%
Staff (FTE)0.80.1▼ 87.5%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €18,117 after a loss of €11,630 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €137,790
Fixed assets
€88,208 ▲ 104%
Current assets
€49,582 ▼ 22.6%
Equity and liabilities €137,790
Equity
€81,972 ▲ 20.9%
Debt
€55,818 ▲ 41.6%
Debt's share of the balance-sheet total rises from 36.8% to 40.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€34,631▲
2024 · €10,135
Cash flow
€30,681▲
2024 · €7,788
Current ratio
1.90▼
2024 · 3.57
Quick ratio
1.79▼
2024 · 3.45
Debt to equity
0.68▲
2024 · 0.58
ROE
17.3%▲
2024 · -20.6%
ROA
10.3%▲
2024 · -13.0%
Interest coverage
13.56▲
2024 · 4.57
Debt ≤ 1 year
€26,093▲
2024 · €17,913
Debt > 1 year
€29,725▲
2024 · €21,506
Income taxes
€1,407▲
2024 · €129
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,324 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.4%
went bankrupt
5.9%
stopped otherwise
93%
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 0.7% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 31,324 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
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €18,066 | - |
| Remuneration, social security and pensions62 | €3,459 | €169 | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €12,525 | €12,908 | €13,827 | €21,765 | €16,515 | ▼ 24.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €9,231 | €0 | - | - |
| Other operating charges640/8 | €692 | €790 | €3,450 | €738 | €765 | ▲ 3.6% |
| Gross operating margin9900 | €3,267 | €30,519 | €48,139 | €10,873 | €35,396 | ▲ 226% |
| Operating profit (loss)9901 | -€13,409 | €16,651 | €21,632 | -€11,630 | €18,117 | ▲ 256% |
| Financial income75/76B | €3 | - | - | - | €10 | - |
| Recurring financial income75 | €3 | - | - | - | €10 | - |
| Financial charges65/66B | €835 | €864 | €916 | €2,218 | €2,553 | ▲ 15.1% |
| Recurring financial charges65 | €835 | €864 | €916 | €2,218 | €2,553 | ▲ 15.1% |
| Profit (loss) for the period before taxes9903 | -€14,240 | €15,788 | €20,716 | -€13,848 | €15,574 | ▲ 212% |
| Income taxes67/77 | €137 | €2,200 | €6,591 | €129 | €1,407 | ▲ 994% |
| Profit (loss) for the period9904 | -€14,377 | €13,587 | €14,125 | -€13,977 | €14,167 | ▲ 201% |
| Profit (loss) for the period to be appropriated9905 | -€14,377 | €13,587 | €14,125 | -€13,977 | €14,167 | ▲ 201% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €84,287 | €94,513 | €145,386 | €107,224 | €137,790 | ▲ 28.5% |
| Fixed assets21/28 | €43,242 | €30,334 | €64,957 | €43,192 | €88,208 | ▲ 104% |
| Tangible fixed assets22/27 | €43,242 | €30,334 | €64,957 | €43,192 | €88,208 | ▲ 104% |
| Land and buildings22 | €1,538 | €1,364 | €1,191 | €1,017 | €844 | ▼ 17.1% |
| Plant, machinery and equipment23 | - | - | €4,154 | €3,323 | €2,492 | ▼ 25.0% |
| Furniture and vehicles24 | €41,705 | €28,970 | €59,612 | €38,852 | €84,872 | ▲ 118% |
| Current assets29/58 | €41,044 | €64,179 | €80,428 | €64,032 | €49,582 | ▼ 22.6% |
| Stocks and contracts in progress3 | €1,796 | €1,576 | €2,428 | €2,315 | €2,995 | ▲ 29.4% |
| Stocks30/36 | €1,796 | €1,576 | €2,428 | €2,315 | €2,995 | ▲ 29.4% |
| Amounts receivable within one year40/41 | €10,183 | €23,786 | €21,843 | €17,467 | €17,259 | ▼ 1.2% |
| Trade receivables40 | €8,985 | €21,517 | €6,497 | €10,474 | €6,037 | ▼ 42.4% |
| Other amounts receivable41 | €1,197 | €2,269 | €15,346 | €6,993 | €11,222 | ▲ 60.5% |
| Cash at bank and in hand54/58 | €28,692 | €37,132 | €54,136 | €43,049 | €28,879 | ▼ 32.9% |
| Deferred charges and accrued income490/1 | €373 | €1,685 | €2,021 | €1,201 | €449 | ▼ 62.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €84,287 | €94,513 | €145,386 | €107,224 | €137,790 | ▲ 28.5% |
| Equity10/15 | €54,070 | €67,657 | €81,782 | €67,805 | €81,972 | ▲ 20.9% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €53,078 | €61,457 | €75,582 | €73,722 | €75,772 | ▲ 2.8% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €0 | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €0 | - | - |
| Tax-exempt reserves132 | €8,000 | €8,000 | €8,000 | €8,000 | €8,000 | = |
| Distributable reserves133 | €43,218 | €51,597 | €65,722 | €65,722 | €67,772 | ▲ 3.1% |
| Profit (loss) carried forward14 | -€5,207 | - | - | -€12,117 | €0 | ▲ 100% |
| Amounts payable17/49 | €30,216 | €26,856 | €63,604 | €39,419 | €55,818 | ▲ 41.6% |
| Amounts payable after more than one year17 | €16,498 | €9,702 | €34,921 | €21,506 | €29,725 | ▲ 38.2% |
| Financial debts170/4 | €16,498 | €9,702 | €34,921 | €21,506 | €29,725 | ▲ 38.2% |
| Amounts payable within one year42/48 | €13,719 | €17,154 | €28,683 | €17,913 | €26,093 | ▲ 45.7% |
| Current portion of amounts payable after more than one year42 | €6,752 | €6,795 | €16,957 | €13,415 | €18,249 | ▲ 36.0% |
| Trade debts44 | €2,831 | €7,450 | €9,231 | €4,498 | €6,437 | ▲ 43.1% |
| Suppliers440/4 | €2,831 | €7,450 | €9,231 | €4,498 | €6,437 | ▲ 43.1% |
| Taxes, remuneration and social security45 | €2,281 | €2,687 | €2,495 | €0 | €1,407 | - |
| Taxes450/3 | €2,281 | €2,687 | €2,495 | €0 | €1,407 | - |
| Other amounts payable47/48 | €1,854 | €221 | €0 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€14,377 | €13,587 | €14,125 | -€13,977 | €14,167 | ▲ 201% |
| + Depreciation and write-downs630 | €12,525 | €12,908 | €13,827 | €21,765 | €16,515 | ▼ 24.1% |
| Operating cash flow (approximation) | -€1,851 | €26,495 | €27,952 | €7,788 | €30,681 | ▲ 294% |
| Investment in fixed assets (approximation) | - | €0 | -€48,450 | €0 | -€61,531 | - |
| Change in cash | - | €8,439 | €17,004 | -€11,087 | -€14,170 | ▼ 27.8% |
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
30-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €14,167
Net result €14,167 after one loss-making year.
14-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
29-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
20-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €13,587
Net result €13,587 after one loss-making year.
25-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 25 days late
2021
31-12
Financial
Weakest financial yearnet -€14,377
Net result drops to -€14,377, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
31-12
Financial
Highest result since 2018net €43,218 ▲28,251%
Operating result €52,388, net result €43,218, both a record.
28-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 89 days late
2019
31-12
Financial
Back to profitnet €152
Net result €152 after one loss-making year.
Show earlier events
30-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 61 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
2017
27-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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
1 act for this company is 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, Dessel · 1 establishment unit since 2003
Ground area
1,612 m²
Building footprint
170 m²
Volume, LiDAR
928 m³
Parcel 13006D0186/00K000, Flanders · tallest building 8.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Maerschalck Pascal
since 20032.135.106.392
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13006D0186/00K000 | Flanders | 1,612 m² | 1 · 170 m² | 8.9 m · 2 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.
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Of 15,521 companies in sector 43990 we hold annual accounts for 7,420. 6,236 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded08-01-2004
Fiscal year end31-12
Activities, NACEBEL 2025
43990Other specialised construction activities
43230Insulation installation
43320Joinery installation
E-invoicing
Reachable via Peppol
Peppol ID
0208:0862520733
Also
9925:BE0862520733
Registered
17-01-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.