MARAG
ActiveMARAG has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.31M and a net result of €101k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 82% of 3101 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
81
/ 100
Excellent▲ +5 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability39▼-18
Solvency87▲+10
Growth52=
Stability100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €110k at 30 days acceptable
Liquidity tight (current ratio 1.42 against 0.99 in 2024), and 27.3% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 01
Relative position
BE, all sectors
reference
Sector 01
lower
← 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
72.7%
Return on assets
5.6%
Age of the figures
15 mo
lowers risk · Growing equity
Equity grew over 2023-2025. Profits are largely retained rather than distributed.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year €1.3M
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 27-10-2025, 96 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
96 d early
2024
109 d early
2023
96 d early
2022
96 d early
2021
10 d late
2020
2 d late
2019
114 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close15-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€1.31M▲ 8.4%
2024 · €1.21M
2019: €153k
2020: €187k
2021: €70k
2022: €72k
2023: €136k
2024: €1.21M
2019 → 2025
Total assets
€1.80M▲ 4.1%
2024 · €1.73M
2019: €1.36M
2020: €791k
2021: €683k
2022: €702k
2023: €713k
2024: €1.73M
2019 → 2025
Net result
€101k▼ 26.1%
2024 · €137k
2019: €171k
2020: €-116k
2021: €-117k
2022: €2k
2023: €64k
2024: €137k
2019 → 2025
Working capital
€184k
2024 · €-5k
2019: €-94k
2020: €-155k
2021: €-255k
2022: €-195k
2023: €-146k
2024: €-5k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€70k-€72k▲ 2.7%€136k▲ 89.1%€1.21M▲ 786%€1.31M▲ 8.4%
Operating result€-114k-€4k€67k▲ 1,770%€142k▲ 110%€100k▼ 29.2%
Net result€-117k-€2k€64k▲ 3,332%€137k▲ 113%€101k▼ 26.1%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 29% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.80M
Fixed assets
€1.18M▼ 10.2%
Current assets
€617k▲ 49.2%
Equity and liabilities €1.80M
Equity
€1.31M▲ 8.4%
Debt
€491k▼ 5.9%
The debt ratio falls from 30.2% to 27.3%: equity grows while debt is paid down.
Key figures and ratios
EBITDA
€234k▲
2024 · €198k
Cash flow
€234k▲
2024 · €193k
Solvency
72.7%▲
2024 · 69.8%
Current ratio
1.42▲
2024 · 0.99
Quick ratio
1.42▲
2024 · 0.99
Debt / equity
0.38▼
2024 · 0.43
ROE
7.7%▼
2024 · 11.3%
ROA
5.6%▼
2024 · 7.9%
Interest coverage
51.94▲
2024 · 27.77
Debt
€491k▼
2024 · €521k
Debt ≤ 1 year
€433k▲
2024 · €419k
Debt > 1 year
€57k▼
2024 · €102k
Staff costs
€850▼
2024 · €33k
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 · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€1.73M€1.80M▲
Fixed assets21/28€1.31M€1.18M▼
Tangible fixed assets22/27€1.31M€1.18M▼
Land and buildings22€1.29M€1.17M▼
Plant, machinery and equipment23€24k€14k▼
Current assets29/58€414k€617k▲
Amounts receivable after more than one year29€190k€410k▲
Other amounts receivable291€190k€410k▲
Amounts receivable within one year40/41€187k€193k▲
Trade receivables40€184k€193k▲
Other amounts receivable41€3k€0▼
Cash at bank and in hand54/58€33k€12k▼
Deferred charges and accrued income490/1€3k€3k▼
Equity and liabilities
Total equity and liabilities10/49€1.73M€1.80M▲
Equity10/15€1.21M€1.31M▲
Contributions10/11€470k€470k=
Revaluation surpluses12€929k€849k▼
Reserves13€3k€83k▲
Distributable reserves133€3k€83k▲
Profit (loss) carried forward14€-197k€-96k▲
Amounts payable17/49€521k€491k▼
Amounts payable after more than one year17€102k€57k▼
Financial debts170/4€102k€57k▼
Amounts payable within one year42/48€419k€433k▲
Current portion of amounts payable after more than one year42€54k€45k▼
Trade debts44€12k€28k▲
Suppliers440/4€12k€28k▲
Taxes, remuneration and social security45€878€7k▲
Taxes450/3-€7k
Remuneration and social security454/9€878€0▼
Other amounts payable47/48€353k€354k▲
Income statement
Code20242025
Remuneration, social security and pensions62€33k€850▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€57k€133k▲
Other operating charges640/8€7k€10k▲
Gross operating margin9900€238k€244k▲
Operating profit (loss)9901€142k€100k▼
Financial income75/76B€2k€5k▲
Recurring financial income75€2k€5k▲
Financial charges65/66B€7k€4k▼
Recurring financial charges65€7k€4k▼
Profit (loss) for the period before taxes9903€137k€101k▼
Profit (loss) for the period9904€137k€101k▼
Profit (loss) for the period to be appropriated9905€137k€101k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-197k€-96k▲
Profit (loss) brought forward from the previous period14P€-334k€-197k▲
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2025
27-10
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2024
14-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
30-06
Financial
Equity above €1MEq €1.21M ▲786%
3 profitable years in a row build equity to €1.21M.
2023
27-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
30-06
Financial
Equity above €100kEq €136k ▲89.1%
2 profitable years in a row build equity to €136k.
2022
27-10
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
30-06
Financial
Back to profitnet €2k
Net result €2k after 2 loss-making years.
10-02
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 10 days late
2021
30-06
Financial
Weakest financial yearnet €-117k
Net result drops to €-117k, the lowest in the series; recovery starts the following year.
02-02
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 2 days late
2019
09-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
24-10
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
04-12
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
11-10
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
9 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, Wuustwezel · 2 establishment units since 2007
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.
Bredabaan (Centrum) 2582990 WuustwezelGround area
1.3 ha
Building footprint
2,612 m²
Volume, LiDAR
1,962 m³
2 parcels, Flanders · tallest building 8.9 m, ±1 floor. Linked by address, not a title deed.
2 establishment units
MARAG
since 20072.232.179.440
Bredabaan (Centrum) 258, 2990 Wuustwezel
since 20222.327.678.316
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11053E0049/00E000 | Flanders | 7,610 m² | 1 · 2,148 m² | 4.4 m |
| 13023A0416/00B000 | Flanders | 4,906 m² | 1 · 464 m² | 8.9 m · 1 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.
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Of 902 companies in sector 01461 we hold annual accounts for 295. 224 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded06-07-2004
Fiscal year end30-06
Activities, NACEBEL
01231
01461Pig breeding farms
01110Growing of cereals (except rice), leguminous crops and oil seeds
01210
01462Crop and animal production, hunting and related service activities
01471Crop and animal production, hunting and related service activities
01410Raising of dairy cattle
Sources
Crossroads Bank for EnterprisesNational Bank · 21 filingsAddress and cadastre registers
Data from official sources, last processed on 14-09-2026. Scores and ratios are computed by Checked and are not a credit decision.