MARBAISE S.A.
ActiveSummary
MARBAISE S.A. has been active since 1987 and the Belgian State Gazette contains no insolvency or warning signals. The 2026 annual accounts show equity of €340k and a net result of €-161k. Equity remains stable across the filed fiscal years (±0% per year). Its solvency ranks better than 26% of 145 sector peers (fiscal year 2026). The computed 12-month bankruptcy probability is 1.3% (low).
Checked score
Score 2026
35
/ 100
Weak
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2025
Profitability13▼-17
Solvency35▼-6
Growth32▼-46
Track record100
Bankruptcy probability, 12 months
1.3%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €11k at 30 days only on tighter terms
Liquidity tight (current ratio 1.07 against 1.09 in 2025; short-term debt: 80.7% and cash: 2.9% of total assets), and 90.3% 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
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
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
Sector 47
higher
← fewer bankruptcies
more bankruptcies →
neutral · Latest accounts filed on time
The financial year that closed on 31-01-2026 was due by 31-08-2026 and was filed on 21-07-2026, 41 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2026
41 d early
2025
13 d early
2024
30 d early
2023
28 d late
2022
29 d late
2021
30 d late
2020
60 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-01-2027 and is due by 31-08-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
24-09-2026 today31-01-2027 close31-08-2027 deadline
Financials · fiscal year 2026, full schema
Turnover
€8.20M
EBIT margin
0.5%
Net result
€-161k
2025 · €17k
2019: €-20k
2020: €416
2021: €-146k
2022: €34k
2023: €55k
2024: €23k
2025: €17k
2019 → 2026
Working capital
€205k▼ 6.2%
2025 · €218k
2019: €-11k
2020: €50k
2021: €-75k
2022: €365k
2023: €309k
2024: €285k
2025: €218k
2019 → 2026
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20222023202420252026Trend
Turnover€8.20M
Equity€406k-€461k▲ 13.5%€484k▲ 4.9%€501k▲ 3.5%€340k▼ 32.1%
Operating result€55k-€96k▲ 73.9%€78k▼ 19.2%€41k▼ 47.8%€-129k
Net result€34k-€55k▲ 61.1%€23k▼ 58.4%€17k▼ 26.2%€-161k
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2026: a loss of €129k after €41k in 2025, the lowest result in the available series.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €3.52M
Fixed assets
€476k ▲ 7.5%
Current assets
€3.05M ▲ 14.6%
Equity and liabilities €3.52M
Equity
€340k ▼ 32.1%
Debt
€3.18M ▲ 22.4%
Debt's share of the balance-sheet total rises from 83.8% to 90.3%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-34k▼
2025 · €126k
Cash flow
€-66k▼
2025 · €103k
Current ratio
1.07▼
2025 · 1.09
Quick ratio
0.36▲
2025 · 0.33
Debt to equity
9.36▲
2025 · 5.19
ROE
-47.3%▼
2025 · 3.4%
ROA
-4.6%▼
2025 · 0.5%
Interest coverage
-0.38▼
2025 · 1.47
Debt ≤ 1 year
€2.84M▲
2025 · €2.44M
Debt > 1 year
€341k▲
2025 · €160k
Income taxes
€11k
Staff costs
€1.19M▲
2025 · €1.13M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2026 against 2025 · 59 lines
Balance sheet
Code20252026
Assets
Total assets20/58€3.10M€3.52M▲
Fixed assets21/28€443k€476k▲
Intangible fixed assets21€36k€107k▲
Tangible fixed assets22/27€307k€268k▼
Plant, machinery and equipment23€293k€240k▼
Furniture and vehicles24€13k€28k▲
Financial fixed assets28€100k€100k=
Current assets29/58€2.66M€3.05M▲
Stocks and contracts in progress3€1.85M€2.02M▲
Stocks30/36€1.85M€2.02M▲
Amounts receivable within one year40/41€236k€616k▲
Trade receivables40€236k€280k▲
Other amounts receivable41€461€337k▲
Cash at bank and in hand54/58€147k€102k▼
Deferred charges and accrued income490/1€428k€315k▼
Equity and liabilities
Total equity and liabilities10/49€3.10M€3.52M▲
Equity10/15€501k€340k▼
Contributions10/11€513k€513k=
Capital10€513k€513k=
Issued capital100€513k€513k=
Reserves13€52k€52k=
Non-distributable reserves130/1€17k€17k=
Legal reserve130€17k€17k=
Distributable reserves133€35k€35k=
Profit (loss) carried forward14€-64k€-225k▼
Amounts payable17/49€2.60M€3.18M▲
Amounts payable after more than one year17€160k€341k▲
Financial debts170/4€160k€341k▲
Amounts payable within one year42/48€2.44M€2.84M▲
Current portion of amounts payable after more than one year42€151k€120k▼
Financial debts43€725k€726k▲
Credit institutions430/8€725k€726k▲
Trade debts44€1.19M€1.65M▲
Suppliers440/4€1.19M€1.65M▲
Taxes, remuneration and social security45€247k€197k▼
Taxes450/3€106k€62k▼
Remuneration and social security454/9€141k€134k▼
Other amounts payable47/48€130k€148k▲
Accrued charges and deferred income492/3€0-
Income statement
Code20252026
Turnover70€8.20M-
Goods, raw materials, services and sundry goods60/61€6.77M-
Remuneration, social security and pensions62€1.13M€1.19M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€86k€95k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€148k€-169k▼
Other operating charges640/8€6k€6k▲
Non-recurring operating charges66A€39k€0▼
Gross operating margin9900€1.45M€990k▼
Operating profit (loss)9901€41k€-129k▼
Financial income75/76B€62k€68k▲
Recurring financial income75€62k€68k▲
Financial charges65/66B€86k€90k▲
Recurring financial charges65€86k€90k▲
Profit (loss) for the period before taxes9903€17k€-150k▼
Income taxes67/77-€11k
Profit (loss) for the period9904€17k€-161k▼
Profit (loss) for the period to be appropriated9905€17k€-161k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-64k€-225k▼
Profit (loss) brought forward from the previous period14P€-81k€-64k▲
Social balance
Average headcount (FTE)908730.829.0▼
The notes to these accounts (23 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 2027, expected by
2026
21-07
NBB filing
Annual accounts filed
fiscal year 2026 · full schema
31-01
Financial
Weakest financial yearnet €-161k ▼1055%
Net result drops to €-161k, the lowest in the series.
2025
18-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
31-01
Financial
Equity above €500kEq €501k ▲3.5%
4 profitable years in a row build equity to €501k.
2024
01-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2023
28-09
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 28 days late
31-01
Financial
Highest result since 2019net €55k ▲61.1%
Operating result €96k, net result €55k, both a record.
2022
29-09
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 29 days late
31-01
Financial
Back to profitnet €34k
Net result €34k after one loss-making year.
2021
30-09
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 30 days late
2020
30-10
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 60 days late
31-01
Financial
Back to profitnet €416
Net result €416 after one loss-making year.
Show earlier events
2019
18-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2018
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
18 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, Manhay · 7 establishment units since 1999
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.
Rue des Boussines, Vaux-Chavanne 486960 ManhayGround area
8.7 ha
Building footprint
1.0 ha
Volume, LiDAR
116,975 m³
7 parcels, Wallonia · tallest building 25.6 m, ±5 floors. Linked by address, not a title deed.
7 establishment units
MARBAISE
since 19992.030.521.685
Rue des Boussines, Vaux-Chavanne 48, 6960 Manhay
since 20062.150.985.985
MARBAISE
since 20142.227.783.954
MARBAISE
since 20152.241.363.360
MARBAISE
since 20162.251.243.997
MARBAISE
since 20162.257.413.296
Show 1 more locations
MARBAISE
since 20172.260.598.658
7 parcels
Wallonia
7
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62038A0363/00K000 | Wallonia | 6.7 ha | 1 · 800 m² | 6.3 m · 2 fl. |
| 62817B0604/00D002 | Wallonia | 6,611 m² | 1 · 4,730 m² | 25.6 m · 5 fl. |
| 83051A0922/00E002 | Wallonia | 5,845 m² | 1 · 152 m² | - |
| 63079A1450/00L002 | Wallonia | 2,509 m² | 1 · 1,425 m² | 10.8 m · 3 fl. |
| 62087B0259/00M002 | Wallonia | 2,262 m² | 1 · 2,158 m² | 13.3 m · 4 fl. |
| 25772G0141/00G002 | Wallonia | 1,926 m² | 1 · 413 m² | - |
| 62038B0097/00W005 | Wallonia | 757 m² | 1 · 325 m² | 11.6 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 6
7 of 7 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
VAN RENSBERGEN
BE 0426.445.652
Merchtem · Eq €338,642
VAN HOYE
BE 0424.102.113
Stekene · Eq €341,893
Mon Shoe
BE 0407.133.645
Westerlo · Eq €342,465
CHRISTY SHOE
BE 0464.029.291
Jette · Eq €344,447
L'Appuntamento Moda
BE 0422.671.758
Aalst · Eq €335,004
Of 1,034 companies in sector 47721 we hold annual accounts for 582. 414 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded01-09-1987
Fiscal year end31-01
Activities, NACEBEL 2025
47721Retail sale of footwear
Sources
Crossroads Bank for EnterprisesNational Bank · 37 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.