MARATECH
ActiveSummary
The computed 12-month bankruptcy probability of MARATECH is 1.8% (moderate). The annual accounts of MARATECH for financial year 2025 show a net loss of 55% of the equity at the start of that year. The 2025 annual accounts show equity of €36,099 and a net result of -€44,650. Equity is growing by about 14% per year across the filed financial years. Its solvency ranks better than 40% of 34,718 sector peers (NACE 43, financial year 2025). The company has been active since 2015 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
- Equity
- €36,099
- Loss
- -€44,650
Why 53raises riskLoss of €44,650 (financial year 2025)1 of the last 3 lateSector: Specialised construction activities (NACE 43)lowers riskSize: total assets €96,236Show the evidence
Checked score
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 43, micro): better than 40% on solvency, 16% on liquidity, 4% on profitability and 8% on growth.
The bankruptcy probability was computed on 25-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 16 days before the deadline; the sector median (NACE 43) for financial year 2024 is 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Weakest financial yearnet -€44,650
- Annual accounts filedfinancial year 2024 · micro…
Financials · financial year 2025, micro format
2020 to 2025, 5 financial years 2018 to 2025, 6 financial years
The operating result turns negative in 2025: a loss of €41,673 after €24,994 in 2024, the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 43, Specialised construction activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Peer companies
Historical observationOf the 4,805 companies that looked in July 2024 the way this one looks now, 2.0% went bankrupt within 24 months and 88.2% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.8% 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 497,475 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% | 0.9% |
| 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 74.5% 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 4,805 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.
| Line | 2018 | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,962 | €5,002 | €4,298 | €4,534 | €7,257 | €4,534 | ▼ 37.5% |
| Other operating charges640/8 | - | - | €1,447 | €1,444 | €1,014 | €695 | ▼ 31.5% |
| Non-recurring operating charges66A | - | - | - | - | - | €2,603 | - |
| Gross operating margin9900 | €8,783 | €29,358 | €11,318 | €31,087 | €33,265 | -€33,841 | - |
| Operating profit (loss)9901 | €3,355 | €23,073 | €5,573 | €25,110 | €24,994 | -€41,673 | - |
| Financial income75/76B | - | - | - | - | €0 | €1 | ▲ 103% |
| Recurring financial income75 | - | - | - | - | €0 | €1 | ▲ 103% |
| Financial charges65/66B | - | - | - | - | €2,374 | €997 | ▼ 58.0% |
| Recurring financial charges65 | - | - | - | - | €2,374 | €997 | ▼ 58.0% |
| Profit (loss) for the period before taxes9903 | €3,355 | €23,073 | €5,573 | €25,110 | €22,621 | -€42,669 | - |
| Income taxes67/77 | - | €2,165 | - | €2,348 | €2,355 | €1,981 | ▼ 15.9% |
| Profit (loss) for the period9904 | €3,355 | €20,908 | €5,573 | €22,762 | €20,266 | -€44,650 | - |
| Profit (loss) for the period to be appropriated9905 | €3,355 | €20,908 | €5,573 | €22,762 | €20,266 | -€44,650 | - |
| Line | 2018 | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €24,303 | €53,230 | €48,345 | €71,107 | €109,827 | €96,236 | ▼ 12.4% |
| Fixed assets21/28 | €1,240 | €8,947 | €22,668 | €18,134 | €13,601 | €9,067 | ▼ 33.3% |
| Tangible fixed assets22/27 | €1,240 | €8,947 | €22,668 | €18,134 | €13,601 | €9,067 | ▼ 33.3% |
| Furniture and vehicles24 | - | - | €22,668 | €18,134 | €13,601 | €9,067 | ▼ 33.3% |
| Current assets29/58 | €23,063 | €44,282 | €25,677 | €52,973 | €96,226 | €87,169 | ▼ 9.4% |
| Amounts receivable within one year40/41 | €19,398 | €33,707 | €21,289 | €43,839 | €90,820 | €81,908 | ▼ 9.8% |
| Trade receivables40 | - | - | €13,196 | €13,196 | €67,310 | €59,588 | ▼ 11.5% |
| Other amounts receivable41 | - | - | €8,093 | €30,643 | €23,510 | €22,320 | ▼ 5.1% |
| Cash at bank and in hand54/58 | €3,665 | €10,575 | €4,388 | €9,134 | €5,407 | €5,261 | ▼ 2.7% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €24,303 | €53,230 | €48,345 | €71,107 | €109,827 | €96,236 | ▼ 12.4% |
| Equity10/15 | €22,511 | €42,911 | €47,722 | €60,484 | €80,749 | €36,099 | ▼ 55.3% |
| Contributions10/11 | €6,200 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Capital10 | - | - | - | - | €18,600 | €18,600 | = |
| Issued capital100 | - | - | - | - | €18,600 | €18,600 | = |
| Contributions outside capital11 | - | - | €18,600 | €18,600 | - | - | - |
| Share premium1100/10 | - | - | €18,600 | €18,600 | - | - | - |
| Reserves13 | €3,720 | €3,720 | €3,720 | €3,720 | €3,720 | €3,720 | = |
| Non-distributable reserves130/1 | - | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Legal reserve130 | - | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Tax-exempt reserves132 | - | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €12,591 | €20,591 | €25,402 | €38,164 | €58,429 | €13,779 | ▼ 76.4% |
| Amounts payable17/49 | €1,792 | €10,318 | €623 | €10,623 | €29,078 | €60,136 | ▲ 107% |
| Amounts payable after more than one year17 | - | - | - | - | €7,232 | €4,127 | ▼ 42.9% |
| Financial debts170/4 | - | - | - | - | €7,232 | €4,127 | ▼ 42.9% |
| Amounts payable within one year42/48 | €1,792 | €10,318 | €623 | €10,623 | €21,846 | €56,009 | ▲ 156% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €7,466 | - | - |
| Financial debts43 | - | - | - | - | €2,032 | - | - |
| Credit institutions430/8 | - | - | - | - | €2,032 | - | - |
| Trade debts44 | €1,792 | €318 | €623 | €623 | €2,348 | €46,009 | ▲ 20× |
| Suppliers440/4 | - | - | €623 | €623 | €2,348 | €46,009 | ▲ 20× |
| Other amounts payable47/48 | - | - | - | €10,000 | €10,000 | €10,000 | = |
| Line | 2018 | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,355 | €20,908 | €5,573 | €22,762 | €20,266 | -€44,650 | - |
| + Depreciation and write-downs630 | €3,962 | €5,002 | €4,298 | €4,534 | €7,257 | €4,534 | ▼ 37.5% |
| Operating cash flow (approximation) | €7,317 | €25,910 | €9,871 | €27,296 | €27,523 | -€40,117 | - |
| Investment in fixed assets (approximation) | - | - | - | €0 | -€2,724 | €0 | - |
| Change in cash | - | - | - | €4,746 | -€3,727 | -€145 | ▲ 96.1% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (8)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 08-06-2026 | 2026-00148265 |
| 31-12-2024 | micro format | 23-09-2025 | 2025-00501111 |
| 31-12-2023 | full format | 17-05-2024 | 2024-00095562 |
| 31-12-2022 | full format | 01-06-2023 | 2023-00102190 |
| 31-12-2020 | full format | 03-05-2021 | 2021-13400122 |
| 31-12-2018 | full format | 06-06-2019 | 2019-16800544 |
| 31-12-2017 | full format | 15-01-2019 | 2019-01400446 |
| 31-12-2016 | abbreviated format | 22-06-2017 | 2017-20700219 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Not every act has been read: a resignation may still be missing
Mandate history
- Board
| Name | Functions and periods |
|---|---|
| TOKHTIEV MARAT |
|
Owners and capital
Capital and shareholders
- ANGELOV ANGEL to TOKHTIEV MARAT 5 shares
- ANGELOV ANGEL actief vennoot
- TOKHTIEV MARAT to ANGELOV ANGEL 5 shares
- SAMATOV ABLYAKHAT AZATOVITCH actief vennoot
- TOKHTIEV MARAT 186 shares
- SAMATOV ABLYAKHAT AZATOVITCH to TOKHTIEV MARAT 5 shares
The Belgian Official Gazette names shareholders only when an act mentions them; the share register itself is not published.
- 01-02-2024 Converted to unavailable equity · €18,600
- 01-02-2024 Converted to unavailable equity · €1,860
- 01-02-2024 Converted to uncalled contributions
- 01-02-2024 Converted to available equity
Group and network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
16-01
Gazette deed
Appointment: TOKHTIEV MARAT (director)Share transfer4 facts ▸
- General meeting, 01-11-2024
- Other provision, “actief vennoot, actief vennoot” (deed in Dutch)
- Share transfer, ANGELOV ANGEL → TOKHTIEV MARAT
- Director appointment, TOKHTIEV MARAT (director)
28-10
Gazette deed
Capital & shares · Resignations & appointmentsPartner · Share transfer · Director in office4 facts ▸
- General meeting, 20-08-2024
- Partner, ANGELOV ANGEL (actief vennoot) (2 times)
- Share transfer, TOKHTIEV MARAT → ANGELOV ANGEL
- Director in office, TOKHTIEV MARAT (director)
17-07
Gazette deed
Capital & sharesPartner · Share transfer · Shareholding6 facts ▸
- General meeting, 02-05-2024
- Partner, SAMATOV ABLYAKHAT AZATOVITCH (actief vennoot)
- Share transfer, SAMATOV ABLYAKHAT AZATOVITCH → TOKHTIEV MARAT
- Shareholding, 02-05-2024, 186
- Shareholding, 02-05-2024, 0
- Director in office, TOKHTIEV MARAT (manager)
01-02
Gazette deed
Legal-form change · Resignations & appointmentsLegal-form conversion · Capital conversion · Amendment of the articles10 facts ▸
- General meeting, 30-12-2023
- Legal-form conversion, “statuten aanpassen aan WVV, artikel 39, §1, eerste en derde lid van de wet van 23-03-2019” (deed in Dutch)
- Capital conversion, “statutair onbeschikbare eigen vermogensrekening” (deed in Dutch) (2 times)
- Capital conversion, “eigen vermogensrekening niet-opgevraagde inbrengen” (deed in Dutch)
- Capital conversion, “beschikbare eigen vermogensrekening” (deed in Dutch)
- Amendment of the articles
- Registered office clause, “9470 Denderleeuw, Brandweerstraat 10” (deed in Dutch)
- Director in office, Marat TOKHTIEV (sole director)
- Power of attorney, Harold BAUWENS
- Power of attorney
Show earlier events
About the unread acts
Of the 9 Belgian Official Gazette deeds we know for this company, 4 have been read. The other 5 have not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 26 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice, with enterprise number 0600.964.389
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 41011A1449/00N002 | Flanders | 500 m² | 1 · 107 m² | 10.5 m · 2 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “Het verrichten van isolatiewerkzaamheden in de ruimste betekenis van het woord. Evenals het kopen, verkopen en verhandelen van materialen…” (deed in Dutch)
10 activities (deed in Dutch)
- Het verrichten van isolatiewerkzaamheden in de ruimste betekenis van het woord. Evenals het kopen, verkopen en verhandelen van materialen die verband houden of kunnen houden met deze werkzaamheden.
- Het aanbrengen in gebouwen en andere bouwwerken van thermisch en akoestisch isolatiemateriaal.
- Behandelen van muren met vochtwerende en waterafstotende producten.
- Waterdicht maken van daken en dakterrassen, muren, inclusief plaatsing, herstelling ongeacht welk materiaal ….
- Plaatsen van tussenwanden, plafonds ongeacht het materiaal,
- Plaatsen van chape met inbegrip van isolatie inclusief plaatsen en herstellen van vloeren ongeacht het materiaal
- Stukadoorswerken met inbegrip van herstellen van muren ongeacht het materiaal.
- Plaatsen van installaties, apparatuur, leidingen, pijpleidingen voor zowel water, gas en diverse gassen (bijvoorbeeld zuurstof), elektriciteit, communicatie- en computersystemen met inbegrip van aansluiting.
- Algemene bouwonderneming in de ruimste betekenis.
- Groot- en kleinhandel, import en export in bouwmaterialen in de ruimste zin.
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- MARATECH
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaamse Gewest, eenvoudige beslissing van het bestuursorgaan naar tweetalig gebied Brussel Hoofdstad of Nederlands taalgebied” (deed in Dutch)
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “Bestuursorgaan, benoemd met of zonder beperking van duur” (deed in Dutch)“Geboekt op algemene kosten, representatie-, reis- en verplaatsingskosten” (deed in Dutch)“Bestuursorgaan bepaalt of alleen dan wel gezamenlijk optreden, bestuursorgaan kan hen op elk ogenblik ontslaan” (deed in Dutch)1 more provision on this in the deed
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- “Op naam, register van aandelen op naam” (deed in Dutch)
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- 2 provisions in the deed
- Share issue ruleHow and by whom new shares can be issued.
- “Bestuursorgaan beslist zelfstandig over opvragingen van stortingen op voorwaarde van gelijke behandeling, andersluidende beslissing door het…” (deed in Dutch)“Dag van de openstelling van de intekening, overblijvende aandelen eerst aangeboden aan aandeelhouders die recht volledig uitoefenden” (deed in Dutch)
- Profit allocationHow profit is distributed; a BV may only pay out after a balance-sheet and liquidity test.
- “De aanwending van de jaarlijkse nettowinst wordt bepaald door de algemene vergadering, op voorstel van het bestuursorgaan, elk aandeel recht…” (deed in Dutch)
Meetings and financial year
- Meeting accessWho may attend the meeting and what is needed to be admitted.
- “Iedere persoon kan verzaken aan oproeping, als regelmatig opgeroepen beschouwd indien aanwezig of vertegenwoordigd” (deed in Dutch)1 more provision on this in the deed
- Meeting procedureHow the meeting runs, from opening to minutes.
- One provision in the deed
- Voting ruleWhich majority the meeting decides by, for example a simple or a special majority.
- “Meerderheid van stemmen, ongeacht aantal effecten vertegenwoordigd, ieder aandeel één stem, onder voorbehoud wettelijke en statutaire…” (deed in Dutch)
Oversight and winding up
- Auditor ruleHow a statutory auditor is appointed and what they check, if the company has one.
- “Hernieuwbare termijn van drie jaar, één of meerdere commissarissen” (deed in Dutch)
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Op elk moment, door beslissing van de algemene vergadering beslissende in de vormen vereist voor de statutenwijziging” (deed in Dutch)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Indien geen andere vereffenaar zou zijn benoemd, de bestuurder(s) in functie” (deed in Dutch)