MARALEX
ActiveSummary
The computed 12-month bankruptcy probability of MARALEX is 4.1% (elevated). The 2025 annual accounts show negative equity (-€51,005) and a net result of -€30,746. Equity is shrinking by ~46.8% per year across the filed fiscal years. Its solvency ranks better than 5% of 10645 sector peers (fiscal year 2025). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-83
Solvency0=
Growth58▼-20
Track record94
Bankruptcy probability, 12 months
4.1%
Elevated
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.11 against 0.32 in 2024; short-term debt: 315.2% and cash: 0% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-215.2%
Return on assets
-129.8%
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 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
232425
2023 to 2025 · latest year -€51,005
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-08-2026, 27 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 · 3 filingsDeviation from the deadline
2025
27 d late
2024
29 d late
2023
83 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 3 accounts on average 46 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 47% 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. Usually files around 29 August (3 of the last 3 filed years within 55 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
-€51,005▼ 152%
2024 · -€20,259
Total assets
€23,696▼ 46.7%
2024 · €44,469
Net result
-€30,746
2024 · €6,080
Working capital
-€66,691▼ 52.0%
2024 · -€43,889
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line202320242025
Operating result-€25,002-€10,563-€30,251
Net result-€36,339below the sector's middle half-€6,080within the sector's middle half-€30,746below the sector's middle half
Equity-€26,339below the sector's middle half--€20,259below the sector's middle half▲ 23.1%-€51,005below the sector's middle half▼ 152%
Total assets€314,573below the sector's middle half-€44,469below the sector's middle half▼ 85.9%€23,696below the sector's middle half▼ 46.7%
Debt€340,912-€64,728▼ 81.0%€74,701▲ 15.4%
Working capital-€63,263below the sector's middle half--€43,889below the sector's middle half▲ 30.6%-€66,691below the sector's middle half▼ 52.0%
Solvency-8.4%below the sector's middle half--45.6%below the sector's middle half▼ 37.2pp-215.2%below the sector's middle half▼ 169.7pp
Current ratio0.81below the sector's middle half-0.32below the sector's middle half▼ 0.490.11below the sector's middle half▼ 0.21
Return on assets (ROA)-11.6%below the sector's middle half-13.7%above the sector's middle half▲ 25.2pp-129.8%below the sector's middle half▼ 143.4pp
Staff (FTE)4.9within the sector's middle half-0below the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €30,251 after €10,563 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €23,696
Fixed assets
€15,686 ▼ 33.6%
Current assets
€8,010 ▼ 61.6%
Equity and liabilities
Equity-€51,005
Debt€74,701
Equity is negative: debt (€74,701) exceeds the balance-sheet total (€23,696).
Key figures and ratios
EBITDA
-€22,307▼
2024 · €23,856
Cash flow
-€22,802▼
2024 · €19,373
Interest coverage
-76.71▼
2024 · 5.60
Debt ≤ 1 year
€74,701▲
2024 · €64,728
Income taxes
€204▼
2024 · €235
Staff costs
€179▲
2024 · -€10,420
No debt to equity: equity is negative, so debt divided by equity means nothing.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 7,638 companies that looked in July 2024 the way this one looks now, 8.9% went bankrupt within 24 months and 85% are still going.
- Micro
- 2 to 5 years old
- negative equity
- a loss of 10% of the balance sheet or more
8.9%
went bankrupt
5.6%
stopped otherwise
85%
still going
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 4.1% 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 497,341 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% | 1.0% |
| 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% 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 7,638 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 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Remuneration, social security and pensions62 | €156,039 | -€10,420 | €179 | ▲ 102% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €12,388 | €13,294 | €7,944 | ▼ 40.2% |
| Other operating charges640/8 | €1,776 | €852 | €592 | ▼ 30.5% |
| Non-recurring operating charges66A | - | - | €17,292 | - |
| Gross operating margin9900 | €145,202 | €14,288 | -€4,244 | ▼ 130% |
| Operating profit (loss)9901 | -€25,002 | €10,563 | -€30,251 | ▼ 386% |
| Financial income75/76B | €87 | €10 | €0 | ▼ 100% |
| Recurring financial income75 | €87 | €10 | €0 | ▼ 100% |
| Financial charges65/66B | €11,198 | €4,258 | €291 | ▼ 93.2% |
| Recurring financial charges65 | €11,198 | €4,258 | €291 | ▼ 93.2% |
| Profit (loss) for the period before taxes9903 | -€36,113 | €6,315 | -€30,542 | ▼ 584% |
| Income taxes67/77 | €226 | €235 | €204 | ▼ 13.1% |
| Profit (loss) for the period9904 | -€36,339 | €6,080 | -€30,746 | ▼ 606% |
| Profit (loss) for the period to be appropriated9905 | -€36,339 | €6,080 | -€30,746 | ▼ 606% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €314,573 | €44,469 | €23,696 | ▼ 46.7% |
| Fixed assets21/28 | €36,924 | €23,630 | €15,686 | ▼ 33.6% |
| Tangible fixed assets22/27 | €36,924 | €23,630 | €15,686 | ▼ 33.6% |
| Plant, machinery and equipment23 | €5,350 | - | - | - |
| Furniture and vehicles24 | €31,574 | €23,630 | €15,686 | ▼ 33.6% |
| Current assets29/58 | €277,649 | €20,838 | €8,010 | ▼ 61.6% |
| Stocks and contracts in progress3 | €173,819 | - | - | - |
| Stocks30/36 | €173,819 | - | - | - |
| Amounts receivable within one year40/41 | €75,419 | €2,422 | €8,007 | ▲ 231% |
| Trade receivables40 | €66,009 | - | €5,585 | - |
| Other amounts receivable41 | €9,409 | €2,422 | €2,422 | = |
| Cash at bank and in hand54/58 | €28,412 | €18,416 | €3 | ▼ 100.0% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €314,573 | €44,469 | €23,696 | ▼ 46.7% |
| Equity10/15 | -€26,339 | -€20,259 | -€51,005 | ▼ 152% |
| Contributions10/11 | €10,000 | €10,000 | €10,000 | = |
| Profit (loss) carried forward14 | -€36,339 | -€30,259 | -€61,005 | ▼ 102% |
| Amounts payable17/49 | €340,912 | €64,728 | €74,701 | ▲ 15.4% |
| Amounts payable within one year42/48 | €340,912 | €64,728 | €74,701 | ▲ 15.4% |
| Financial debts43 | €10 | - | - | - |
| Credit institutions430/8 | €10 | - | - | - |
| Trade debts44 | €248,084 | €1,363 | €13,377 | ▲ 881% |
| Suppliers440/4 | €248,084 | €1,363 | €13,377 | ▲ 881% |
| Taxes, remuneration and social security45 | €15,636 | €461 | €219 | ▼ 52.5% |
| Taxes450/3 | €226 | €461 | €219 | ▼ 52.5% |
| Remuneration and social security454/9 | €15,410 | - | - | - |
| Other amounts payable47/48 | €77,183 | €62,904 | €61,105 | ▼ 2.9% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | -€36,339 | €6,080 | -€30,746 | ▼ 606% |
| + Depreciation and write-downs630 | €12,388 | €13,294 | €7,944 | ▼ 40.2% |
| Operating cash flow (approximation) | -€23,951 | €19,373 | -€22,802 | ▼ 218% |
| Investment in fixed assets (approximation) | - | €0 | €0 | - |
| Change in cash | - | -€9,996 | -€18,414 | ▼ 84.2% |
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
27-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 27 days late
20-08
State Gazette act
BenamingPurpose change · Name change · Power of attorney5 facts ▸
State Gazette act
Benaming
Purpose change · Name change · Power of attorney5 facts ▸
- General meeting, 17-08-2026
- Board meeting, eenparigheid van stemmen, ontslag van de voorzitter van de voorlezing van het verslag door het bestuursorgaan over de voorgenomen wijziging van het voorwerp
- Purpose change
- Name change, MARALEX
- Power of attorney, Liesbeth Muller
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 29 days late
2024
31-12
Financial
Back to profitnet €6,080
Net result €6,080 after one loss-making year.
22-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 83 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 3 acts read
About the unread acts
Of the 3 Belgian State Gazette acts we know for this company, 1 has been read. The other 2 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
No directors read yet: 1 of 3 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Waasmunster
Ground area
1,528 m²
Building footprint
210 m²
Volume, LiDAR
356 m³
Parcel 42023A1102/00F000, Flanders · tallest building 5.6 m. Linked by address, not a title deed.
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42023A1102/00F000 | Flanders | 1,528 m² | 1 · 210 m² | 5.6 m |
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.
Articles of association
Purpose
Het bestuur en normaal beheer van roerend en onroerend vermogen, de aankoop, de verkoop, de verhuring, inpandgeving, verkaveling, het bouwen of verbouwen en in het algemeen alles…
Full purpose (17 activities)
- Het bestuur en normaal beheer van roerend en onroerend vermogen, de aankoop, de verkoop, de verhuring, inpandgeving, verkaveling, het bouwen of verbouwen en in het algemeen alles wat ten goede komt, in de meest ruime zin van het woord, aan het onroerend patrimonium, alsook alle handelingen die rechtstreeks of onrechtstreeks met deze activiteiten in verband staan. Dit behelst tevens koop, verkoop, beheer, huur, verhuur alsook herstelling en/of onderhoud van alle onroerende goederen, materieel outillering en uitrusting.
- Vervaardiging van andere keramische producten. en organiseren van workshops inzake keramiek
- Detailhandel in glas-, porselein- en aardewerk en in niet-elektrische huishoudelijke artikelen
- Het uitvoeren van mandaten van bestuurder, zaakvoerder of van vereffenaar in andere vennootschappen
- De vennootschap mag alle commerciële handelingen stellen die verband houden met haar voorwerp of de verwezenlijking ervan vergemakkelijken
- De vennootschap mag aangewend worden voor het beheer van eigen vermogens en eigen beleggingen
- De vennootschap mag zich borgstellen en onroerende goederen in pand geven of hypothekeren voor verbintenissen door derde personen aangegaan
- De vennootschap mag al haar andere goederen in pand geven en aval verlenen in het voordeel van derden
- De vennootschap mag bestuursmandaten opnemen en bijstand verlenen
- De vennootschap mag door participatie deelnemen, ongeacht de vorm, in alle bestaande of nog op te richten vennootschappen in België waarvan het voorwerp gelijkvormig of aansluitend zou zijn met het hare
- Zij zal alle handelingen mogen verrichten, die in rechtstreeks of onrechtstreeks verband staan met haar maatschappelijk voorwerp, of welke van aard zijn de verwezenlijking ervan te bevorderen
- Zij mag belangen nemen, hetzij door deelneming, inbreng of elke andere wijze in alle vennootschappen, ondernemingen of groeperingen, bestaande of op te richten, zowel in België als in het buitenland, die een aanvullend of soortgelijk voorwerp nastreven, of die van aard zijn de ontwikkeling van haar onderneming te bevorderen
- Zij kan optreden als bestuurder of vereffenaar in andere vennootschappen
- Zij mag zich borg stellen voor derden, zaakvoerders en vennoten. Zij kan hen eveneens leningen; voorschotten en kredieten toestaan, behoudens de wettelijke beperkingen inzake
- Zij heeft in het algemeen de volle rechtsbekwaamheid om alle handelingen en verrichtingen te voltrekken die een rechtstreeks of onrechtstreeks verband houden met haar voorwerp of welke van die aard zouden zijn dat zij de verwezenlijking van dit voorwerp, rechtstreeks of onrechtstreeks, geheel of ten dele vergemakkelijken
- Zij kan belangen nemen door associatie, inbreng, fusie, financiële tussenkomst of op gelijk welke andere wijze, in alle vennootschappen, verenigingen of ondernemingen met een identiek, gelijklopend of samenhangend voorwerp met het hare of die van aard kunnen zijn de ontwikkeling van haar onderneming te begunstigen of een bron van afzetten te vormen
- Zij kan de functies van bestuurder of vereffenaar uitoefenen in andere vennootschappen
Name clause
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Lokeren
This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 10,504 companies in this sector we hold annual accounts for 5,855. See the whole sector
Company details
Identification
Legal formPrivate limited company
Founded11-10-2022
Fiscal year end31-12
Legal name NL
MARALEX RETAIL
Activities, NACEBEL 2025
47110Non-specialised retail sale with food, beverages or tobacco predominating
E-invoicing
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Register as of 1 October 2026 · Peppol Directory
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