MARA CONSTRUCT
ActiveSummary
MARA CONSTRUCT has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €81,213 and a net result of €795. Equity is growing by ~10.3% per year across the filed fiscal years. Its solvency ranks better than 39% of 28051 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability57▼-18
Solvency62▼-25
Growth52=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4,500 at 30 days acceptable
Liquidity ample (current ratio 1.53 against 2.47 in 2024; short-term debt: 62.7% and cash: 17.8% of total assets), but 62.7% 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
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 · 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
37.3%
Return on assets
0.4%
Age of the figures
9 mo
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
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 29-08-2026, 29 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
29 d late
2024
29 d late
2023
30 d late
2022
31 d late
2021
60 d late
2020
31 d late
2019
92 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 43 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
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€81,213▼ 19.1%
2024 · €100,417
Total assets
€217,513▲ 35.4%
2024 · €160,691
Net result
€795▼ 89.3%
2024 · €7,464
Working capital
€72,836▼ 16.7%
2024 · €87,461
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€10,894▼ 68.9%€28,303▲ 160%€1,685▼ 94.0%€11,917▲ 607%€10,753▼ 9.8%
Net result€2,980▼ 85.7%€21,732▲ 629%€657▼ 97.0%€7,464▲ 1,036%€795▼ 89.3%
Equity€77,064▲ 4.0%€98,796▲ 28.2%€99,453▲ 0.7%€100,417▲ 1.0%€81,213▼ 19.1%
Total assets€176,098▲ 15.3%€116,897▼ 33.6%€127,313▲ 8.9%€160,691▲ 26.2%€217,513▲ 35.4%
Debt€99,034▲ 25.9%€18,101▼ 81.7%€27,860▲ 53.9%€60,274▲ 116%€136,301▲ 126%
Working capital€61,232▼ 0.9%€90,275▲ 47.4%€93,617▲ 3.7%€87,461▼ 6.6%€72,836▼ 16.7%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 10% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €217,513
Fixed assets
€8,377 ▼ 39.6%
Current assets
€209,136 ▲ 42.5%
Equity and liabilities €217,513
Equity
€81,213 ▼ 19.1%
Debt
€136,301 ▲ 126%
Debt's share of the balance-sheet total rises from 37.5% to 62.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€17,397▼
2024 · €17,639
Cash flow
€7,439▼
2024 · €13,186
Current ratio
1.53▼
2024 · 2.47
Debt to equity
1.68▲
2024 · 0.60
ROE
1.0%▼
2024 · 7.4%
ROA
0.4%▼
2024 · 4.6%
Interest coverage
4.53▼
2024 · 13.70
Debt ≤ 1 year
€136,301▲
2024 · €59,352
Income taxes
€6,846▲
2024 · €3,604
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,491 | €9,209 | €4,428 | €5,722 | €6,644 | ▲ 16.1% |
| Other operating charges640/8 | €2,320 | €5,719 | €1,520 | €2,181 | €2,073 | ▼ 4.9% |
| Gross operating margin9900 | €20,706 | €43,231 | €7,633 | €19,819 | €19,470 | ▼ 1.8% |
| Operating profit (loss)9901 | €10,894 | €28,303 | €1,685 | €11,917 | €10,753 | ▼ 9.8% |
| Financial income75/76B | €6,695 | €112 | €31 | €439 | €730 | ▲ 66.2% |
| Recurring financial income75 | €6,695 | €112 | €31 | €439 | €730 | ▲ 66.2% |
| Financial charges65/66B | €3,458 | €782 | €685 | €1,288 | €3,843 | ▲ 198% |
| Recurring financial charges65 | €3,458 | €782 | €685 | €1,288 | €3,843 | ▲ 198% |
| Profit (loss) for the period before taxes9903 | €14,131 | €27,633 | €1,031 | €11,069 | €7,641 | ▼ 31.0% |
| Income taxes67/77 | €11,151 | €5,902 | €374 | €3,604 | €6,846 | ▲ 89.9% |
| Profit (loss) for the period9904 | €2,980 | €21,732 | €657 | €7,464 | €795 | ▼ 89.3% |
| Profit (loss) for the period to be appropriated9905 | €2,980 | €21,732 | €657 | €7,464 | €795 | ▼ 89.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €176,098 | €116,897 | €127,313 | €160,691 | €217,513 | ▲ 35.4% |
| Fixed assets21/28 | €16,414 | €8,521 | €5,836 | €13,878 | €8,377 | ▼ 39.6% |
| Tangible fixed assets22/27 | €13,964 | €6,971 | €5,786 | €13,828 | €8,327 | ▼ 39.8% |
| Plant, machinery and equipment23 | €3,937 | €2,520 | €2,706 | €2,189 | €1,728 | ▼ 21.1% |
| Furniture and vehicles24 | €5,427 | €4,451 | €3,079 | €11,639 | €6,599 | ▼ 43.3% |
| Leasing and similar rights25 | €4,600 | - | - | - | - | - |
| Financial fixed assets28 | €2,450 | €1,550 | €50 | €50 | €50 | = |
| Current assets29/58 | €159,685 | €108,376 | €121,478 | €146,813 | €209,136 | ▲ 42.5% |
| Amounts receivable after more than one year29 | - | - | - | €41,083 | €29,498 | ▼ 28.2% |
| Other amounts receivable291 | - | - | - | €41,083 | €29,498 | ▼ 28.2% |
| Stocks and contracts in progress3 | - | - | €9,336 | €9,134 | - | - |
| Stocks30/36 | - | - | €9,336 | €9,134 | - | - |
| Amounts receivable within one year40/41 | €134,776 | €93,136 | €82,770 | €38,196 | €138,394 | ▲ 262% |
| Trade receivables40 | €105,064 | €52,251 | €33,213 | €28,105 | €135,385 | ▲ 382% |
| Other amounts receivable41 | €29,712 | €40,884 | €49,556 | €10,091 | €3,009 | ▼ 70.2% |
| Cash at bank and in hand54/58 | €22,092 | €12,247 | €27,243 | €56,240 | €38,791 | ▼ 31.0% |
| Deferred charges and accrued income490/1 | €2,818 | €2,993 | €2,130 | €2,161 | €2,453 | ▲ 13.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €176,098 | €116,897 | €127,313 | €160,691 | €217,513 | ▲ 35.4% |
| Equity10/15 | €77,064 | €98,796 | €99,453 | €100,417 | €81,213 | ▼ 19.1% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €28,360 | €28,360 | €28,360 | €29,260 | €9,260 | ▼ 68.4% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | €26,500 | €26,500 | €28,360 | €29,260 | €9,260 | ▼ 68.4% |
| Profit (loss) carried forward14 | €42,504 | €64,236 | €64,893 | €64,957 | €65,753 | ▲ 1.2% |
| Amounts payable17/49 | €99,034 | €18,101 | €27,860 | €60,274 | €136,301 | ▲ 126% |
| Amounts payable after more than one year17 | €581 | - | - | €922 | - | - |
| Financial debts170/4 | €581 | - | - | €922 | - | - |
| Amounts payable within one year42/48 | €98,453 | €18,101 | €27,860 | €59,352 | €136,301 | ▲ 130% |
| Current portion of amounts payable after more than one year42 | €4,092 | €581 | - | €3,552 | €922 | ▼ 74.0% |
| Financial debts43 | €145 | €244 | €201 | €26 | €26 | = |
| Credit institutions430/8 | €145 | €244 | €201 | €26 | €26 | = |
| Trade debts44 | €78,426 | €12,981 | €22,947 | €41,453 | €91,665 | ▲ 121% |
| Suppliers440/4 | €78,426 | €12,981 | €22,947 | €41,453 | €91,665 | ▲ 121% |
| Taxes, remuneration and social security45 | €8,997 | €902 | €2,603 | €6,235 | €12,570 | ▲ 102% |
| Taxes450/3 | €5,797 | €902 | - | €5,032 | €9,867 | ▲ 96.1% |
| Remuneration and social security454/9 | €3,200 | - | €2,603 | €1,203 | €2,703 | ▲ 125% |
| Other amounts payable47/48 | €6,792 | €3,393 | €2,110 | €8,086 | €31,118 | ▲ 285% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2,980 | €21,732 | €657 | €7,464 | €795 | ▼ 89.3% |
| + Depreciation and write-downs630 | €7,491 | €9,209 | €4,428 | €5,722 | €6,644 | ▲ 16.1% |
| Operating cash flow (approximation) | €10,471 | €30,941 | €5,085 | €13,186 | €7,439 | ▼ 43.6% |
| Investment in fixed assets (approximation) | - | -€1,317 | -€1,742 | -€13,764 | -€1,143 | ▲ 91.7% |
| Change in cash | - | -€9,845 | €14,996 | €28,998 | -€17,449 | ▼ 160% |
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
29-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 29 days late
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
31-12
Financial
Equity above €100,000Eq €100,417 ▲1%
7 profitable years in a row build equity to €100,417.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
31-12
Financial
Weakest financial yearnet €657 ▼97%
Net result drops to €657, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-12
Financial
Highest result since 2018net €21,732 ▲629%
Net result €21,732, the highest in the series.
31-12
Financial
Liquidity quadruplescurrent ratio 5.99
Current ratio from 1.62 to 5.99; short-term debt falls from €98,453 to €18,101.
29-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 60 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 92 days late
2019
31-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 31 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
18-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 49 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Tubize · 1 establishment unit since 2012
Ground area
1,109 m²
Building footprint
411 m²
Volume, LiDAR
2,828 m³
Parcel 25105B0357/00S003, Wallonia · tallest building 7.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Mara construct
since 20122.215.049.933
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25105B0357/00S003 | Wallonia | 1,109 m² | 1 · 411 m² | 7.8 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 8,574 companies in sector 43410 we hold annual accounts for 4,366. 3,797 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
Founded10-12-2012
Fiscal year end31-12
Activities, NACEBEL 2025
43410Roofing work
43221Plumbing work
43320Joinery installation
Scores and ratios are computed by Checked and are not a credit decision.