MARATECH
ActiveMARATECH has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €36k and a net result of €-45k. Equity is growing by ~13.9% per year across the filed fiscal years. Its solvency ranks better than 39% of 27054 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-100
Solvency71▼-29
Growth52▼-26
Stability100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2k at 30 days acceptable
Liquidity ample (current ratio 1.56 against 4.4 in 2024), but 62.5% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six 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
Sector 43
higher
← fewer bankruptcies
more bankruptcies →
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
37.5%
Return on assets
-46.4%
Age of the figures
8 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 · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 08-06-2026, 53 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
53 d early
2024
54 d late
2023
75 d early
2022
60 d early
2020
89 d early
2018
55 d early
2017
168 d late
← before the deadline
after the deadline →
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
09-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-45k
2024 · €20k
2018: €3k
2020: €21k
2022: €6k
2023: €23k
2024: €20k
2018 → 2025
Working capital
€31k▼ 58.1%
2024 · €74k
2018: €21k
2020: €34k
2022: €25k
2023: €42k
2024: €74k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202022202320242025Trend
Equity€43k-€48k▲ 11.2%€60k▲ 26.7%€81k▲ 33.5%€36k▼ 55.3%
Operating result€23k-€6k▼ 75.8%€25k▲ 351%€25k▼ 0.5%€-42k
Net result€21k-€6k▼ 73.3%€23k▲ 308%€20k▼ 11.0%€-45k
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €42k after €25k in 2024, the lowest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €96k
Fixed assets
€9k▼ 33.3%
Current assets
€87k▼ 9.4%
Equity and liabilities €96k
Equity
€36k▼ 55.3%
Debt
€60k▲ 107%
The debt ratio rises from 26.5% to 62.5%: debt grows while equity shrinks.
Key figures and ratios
EBITDA
€-37k▼
2024 · €32k
Cash flow
€-40k▼
2024 · €28k
Solvency
37.5%▼
2024 · 73.5%
Current ratio
1.56▼
2024 · 4.40
Quick ratio
1.56▼
2024 · 4.40
Debt / equity
1.67▲
2024 · 0.36
ROE
-123.7%▼
2024 · 25.1%
ROA
-46.4%▼
2024 · 18.5%
Interest coverage
-37.25▼
2024 · 13.59
Debt
€60k▲
2024 · €29k
Debt ≤ 1 year
€56k▲
2024 · €22k
Debt > 1 year
€4k▼
2024 · €7k
Income taxes
€2k▼
2024 · €2k
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€110k€96k▼
Fixed assets21/28€14k€9k▼
Tangible fixed assets22/27€14k€9k▼
Furniture and vehicles24€14k€9k▼
Current assets29/58€96k€87k▼
Amounts receivable within one year40/41€91k€82k▼
Trade receivables40€67k€60k▼
Other amounts receivable41€24k€22k▼
Cash at bank and in hand54/58€5k€5k▼
Equity and liabilities
Total equity and liabilities10/49€110k€96k▼
Equity10/15€81k€36k▼
Contributions10/11€19k€19k=
Capital10€19k€19k=
Issued capital100€19k€19k=
Reserves13€4k€4k=
Non-distributable reserves130/1€2k€2k=
Legal reserve130€2k€2k=
Tax-exempt reserves132€2k€2k=
Profit (loss) carried forward14€58k€14k▼
Amounts payable17/49€29k€60k▲
Amounts payable after more than one year17€7k€4k▼
Financial debts170/4€7k€4k▼
Amounts payable within one year42/48€22k€56k▲
Current portion of amounts payable after more than one year42€7k-
Financial debts43€2k-
Credit institutions430/8€2k-
Trade debts44€2k€46k▲
Suppliers440/4€2k€46k▲
Other amounts payable47/48€10k€10k=
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€7k€5k▼
Other operating charges640/8€1k€695▼
Non-recurring operating charges66A-€3k
Gross operating margin9900€33k€-34k▼
Operating profit (loss)9901€25k€-42k▼
Financial income75/76B€0€1▲
Recurring financial income75€0€1▲
Financial charges65/66B€2k€997▼
Recurring financial charges65€2k€997▼
Profit (loss) for the period before taxes9903€23k€-43k▼
Income taxes67/77€2k€2k▼
Profit (loss) for the period9904€20k€-45k▼
Profit (loss) for the period to be appropriated9905€20k€-45k▼
Appropriation of the result
Profit (loss) to be appropriated9906€68k€24k▼
Profit (loss) brought forward from the previous period14P€48k€68k▲
Profit to be distributed694/7€10k€10k=
Return on contributions (dividend)694€10k€10k=
The notes to these accounts (6 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
2026
08-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet €-45k ▼320%
Net result drops to €-45k, the lowest in the series.
23-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 54 days late
2024
17-05
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Highest result since 2018net €23k ▲308%
Operating result €25k, net result €23k, both a record.
01-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Liquidity times 10current ratio 41.22
Current ratio from 4.29 to 41.22; short-term debt falls from €10k to €623.
2021
03-05
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2019
06-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
15-01
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 168 days late
2017
22-06
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.
0 of 9 acts read
About the unread acts
We know of 9 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
3 directors, last change in 2024
TOKHTIEV MARAT
CurrentDirector · since 20-08-2024
SAMÁTOV ABLYAKHAT AZATOVITCH
CurrentDirector (executive) · since 01-01-2023
01-11-2024
ANGELOV ANGEL: Resigned as Director
20-08-2024
TOKHTIEV MARAT: Appointed as Director
20-08-2024
ANGELOV ANGEL: Resigned as Director
01-01-2023
SAMÁTOV ABLYAKHAT AZATOVITCH: Appointed as Director (executive)
Not every act has been read: a resignation may be missing here
9 of this company's 9 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Denderleeuw · 1 establishment unit since 2015
Ground area
500 m²
Building footprint
107 m²
Volume, LiDAR
726 m³
Parcel 41011A1449/00N002, Flanders · tallest building 10.5 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MARATECH BVBA
since 20152.240.282.801
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41011A1449/00N002 | Flanders | 500 m² | 1 · 107 m² | 10.5 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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 4,235 companies in sector 43230 we hold annual accounts for 1,230. 978 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded13-03-2015
Fiscal year end31-12
Activities, NACEBEL
43230Insulation installation
43291Specialised construction activities
Sources
Crossroads Bank for EnterprisesNational Bank · 8 filingsAddress and cadastre registers
Data from official sources, last processed on 09-09-2026. Scores and ratios are computed by Checked and are not a credit decision.