MARBAS
ActiveSummary
MARBAS has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2026 annual accounts show equity of €207,833 and a net result of €119,415. Equity is growing by ~7.4% per year across the filed fiscal years. Its solvency ranks better than 46% of 92 sector peers (fiscal year 2026). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2026
Axes · tick = 2025
Profitability100=
Solvency76▼-9
Growth78=
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €17,000 at 30 days acceptable
Liquidity tight (current ratio 1.33 against 1.44 in 2025; short-term debt: 47.8% and cash: 45.9% of total assets), and 48.8% of the assets are financed with debt.
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Signals
Two signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2026Solvency, return and age of the figures
Solvency
51.2%
Return on assets
29.4%
Age of the figures
8 mo
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 07-05-2026, 116 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2026
116 d early
2025
108 d early
2024
127 d early
2023
126 d early
2022
58 d early
2021
47 d early
2020
63 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 92 days before the deadline; the sector median for financial year 2024 is 6 days before the deadline, and 36% of the sector filed late.
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
26-09-2026 today31-01-2027 close31-08-2027 deadline
History
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Financials · fiscal year 2026, micro schema
Equity
€207,833▼ 12.8%
2025 · €238,419
Total assets
€406,044▲ 2.4%
2025 · €396,554
Net result
€119,415▲ 6.9%
2025 · €111,678
Working capital
€63,235▼ 7.5%
2025 · €68,362
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20222023202420252026
Operating result€53,919▲ 10.8%€118,175▲ 119%€207,002▲ 75.2%€151,837▼ 26.6%€162,101▲ 6.8%
Net result€40,594▲ 8.7%€89,605▲ 121%€155,117▲ 73.1%€111,678▼ 28.0%€119,415▲ 6.9%
Equity€135,019▼ 12.6%€171,624▲ 27.1%€226,741▲ 32.1%€238,419▲ 5.2%€207,833▼ 12.8%
Total assets€295,186▼ 13.5%€308,905▲ 4.6%€466,336▲ 51.0%€396,554▼ 15.0%€406,044▲ 2.4%
Debt€160,167▼ 14.2%€137,282▼ 14.3%€239,595▲ 74.5%€158,135▼ 34.0%€198,210▲ 25.3%
Working capital-€9,677€50,045€34,543▼ 31.0%€68,362▲ 97.9%€63,235▼ 7.5%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2026; 2026 is 7% above 2025.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €406,044
Fixed assets
€148,792 ▼ 14.5%
Current assets
€257,252 ▲ 15.6%
Equity and liabilities €406,044
Equity
€207,833 ▼ 12.8%
Debt
€198,210 ▲ 25.3%
Debt's share of the balance-sheet total rises from 39.9% to 48.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€198,237▼
2025 · €200,911
Cash flow
€155,551▼
2025 · €160,751
Current ratio
1.33▼
2025 · 1.44
Debt to equity
0.95▲
2025 · 0.66
ROE
57.5%▲
2025 · 46.8%
ROA
29.4%▲
2025 · 28.2%
Interest coverage
43.93▲
2025 · 40.74
Debt ≤ 1 year
€194,017▲
2025 · €154,263
Income taxes
€38,175▲
2025 · €35,233
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €42,153 | €42,358 | €32,672 | €49,073 | €36,136 | ▼ 26.4% |
| Other operating charges640/8 | €1,324 | €1,700 | €1,690 | €1,735 | €1,796 | ▲ 3.5% |
| Gross operating margin9900 | €97,396 | €162,233 | €241,363 | €202,646 | €200,034 | ▼ 1.3% |
| Operating profit (loss)9901 | €53,919 | €118,175 | €207,002 | €151,837 | €162,101 | ▲ 6.8% |
| Financial income75/76B | €25 | €19 | €0 | €6 | €0 | ▼ 99.8% |
| Recurring financial income75 | €25 | €19 | €0 | €6 | €0 | ▼ 99.8% |
| Financial charges65/66B | €1,034 | €2,094 | €2,349 | €4,932 | €4,512 | ▼ 8.5% |
| Recurring financial charges65 | €1,034 | €2,094 | €2,349 | €4,932 | €4,512 | ▼ 8.5% |
| Profit (loss) for the period before taxes9903 | €52,910 | €116,100 | €204,653 | €146,911 | €157,589 | ▲ 7.3% |
| Income taxes67/77 | €12,316 | €26,495 | €49,535 | €35,233 | €38,175 | ▲ 8.3% |
| Profit (loss) for the period9904 | €40,594 | €89,605 | €155,117 | €111,678 | €119,415 | ▲ 6.9% |
| Profit (loss) for the period to be appropriated9905 | €40,594 | €89,605 | €155,117 | €111,678 | €119,415 | ▲ 6.9% |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €295,186 | €308,905 | €466,336 | €396,554 | €406,044 | ▲ 2.4% |
| Fixed assets21/28 | €188,330 | €145,971 | €219,581 | €173,928 | €148,792 | ▼ 14.5% |
| Tangible fixed assets22/27 | €188,330 | €145,971 | €219,581 | €173,928 | €148,792 | ▼ 14.5% |
| Land and buildings22 | €110,413 | €100,399 | €90,386 | €82,128 | €73,870 | ▼ 10.1% |
| Plant, machinery and equipment23 | €2,021 | €1,356 | €691 | €25 | €0 | ▼ 100% |
| Furniture and vehicles24 | €71,896 | €40,216 | €124,504 | €87,775 | €70,922 | ▼ 19.2% |
| Other tangible fixed assets26 | €4,000 | €4,000 | €4,000 | €4,000 | €4,000 | = |
| Current assets29/58 | €106,856 | €162,934 | €246,755 | €222,626 | €257,252 | ▲ 15.6% |
| Amounts receivable within one year40/41 | €64,215 | €139,981 | €69,603 | €83,457 | €67,207 | ▼ 19.5% |
| Trade receivables40 | €61,531 | €133,792 | €69,603 | €69,488 | €67,207 | ▼ 3.3% |
| Other amounts receivable41 | €2,684 | €6,189 | €0 | €13,969 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €38,439 | €17,686 | €171,130 | €132,877 | €186,228 | ▲ 40.2% |
| Deferred charges and accrued income490/1 | €4,202 | €5,266 | €6,022 | €6,293 | €3,817 | ▼ 39.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €295,186 | €308,905 | €466,336 | €396,554 | €406,044 | ▲ 2.4% |
| Equity10/15 | €135,019 | €171,624 | €226,741 | €238,419 | €207,833 | ▼ 12.8% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €115,019 | €151,624 | €206,741 | €218,419 | €187,833 | ▼ 14.0% |
| Non-distributable reserves130/1 | €2,000 | €2,000 | €2,000 | €0 | - | - |
| Reserves not available under the articles1311 | €2,000 | €2,000 | €2,000 | €0 | - | - |
| Distributable reserves133 | €113,019 | €149,624 | €204,741 | €218,419 | €187,833 | ▼ 14.0% |
| Profit (loss) carried forward14 | €0 | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €160,167 | €137,282 | €239,595 | €158,135 | €198,210 | ▲ 25.3% |
| Amounts payable after more than one year17 | €43,634 | €23,063 | €25,709 | €0 | - | - |
| Financial debts170/4 | €43,634 | €23,063 | €25,709 | €0 | - | - |
| Amounts payable within one year42/48 | €116,533 | €112,889 | €212,212 | €154,263 | €194,017 | ▲ 25.8% |
| Current portion of amounts payable after more than one year42 | €31,853 | €20,571 | €43,263 | €25,709 | €0 | ▼ 100% |
| Trade debts44 | €9,742 | €10,742 | €9,694 | €10,991 | €5,742 | ▼ 47.8% |
| Suppliers440/4 | €9,742 | €10,742 | €9,694 | €10,991 | €5,742 | ▼ 47.8% |
| Taxes, remuneration and social security45 | €23,399 | €16,974 | €35,649 | €17,563 | €18,932 | ▲ 7.8% |
| Taxes450/3 | €17,978 | €10,908 | €29,584 | €11,498 | €12,742 | ▲ 10.8% |
| Remuneration and social security454/9 | €5,421 | €6,066 | €6,066 | €6,066 | €6,190 | ▲ 2.0% |
| Other amounts payable47/48 | €51,539 | €64,602 | €123,606 | €100,000 | €169,344 | ▲ 69.3% |
| Accrued charges and deferred income492/3 | - | €1,330 | €1,674 | €3,872 | €4,193 | ▲ 8.3% |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €40,594 | €89,605 | €155,117 | €111,678 | €119,415 | ▲ 6.9% |
| + Depreciation and write-downs630 | €42,153 | €42,358 | €32,672 | €49,073 | €36,136 | ▼ 26.4% |
| Operating cash flow (approximation) | €82,747 | €131,963 | €187,789 | €160,751 | €155,551 | ▼ 3.2% |
| Investment in fixed assets (approximation) | - | €0 | -€106,281 | -€3,421 | -€11,000 | ▼ 222% |
| Change in cash | - | -€20,753 | €153,444 | -€38,253 | €53,352 | ▲ 239% |
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 2027, expected by
2026
07-05
NBB filing
Annual accounts filed
fiscal year 2026 · micro schema
2025
15-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2024
26-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
31-01
Financial
Highest result since 2019net €155,117 ▲73.1%
Operating result €207,002, net result €155,117, both a record.
31-01
Financial
Equity above €200,000Eq €226,741 ▲32.1%
6 profitable years in a row build equity to €226,741.
2023
27-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
31-01
Financial
Equity above €150,000Eq €171,624 ▲27.1%
5 profitable years in a row build equity to €171,624.
2022
04-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2021
15-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
31-01
Financial
Weakest financial yearnet €37,340 ▼28.6%
Net result drops to €37,340, the lowest in the series; recovery starts the following year.
2020
29-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
31-01
Financial
Equity above €150,000Eq €177,085 ▲54.3%
2 profitable years in a row build equity to €177,085.
2019
30-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 30 days late
2018
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Damme · 1 establishment unit since 2016
Ground area
8,479 m²
Building footprint
128 m²
Volume, LiDAR
723 m³
Parcel 31026C0543/00D000, Flanders · tallest building 10.1 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MARBAS
since 20162.257.861.377
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31026C0543/00D000 | Flanders | 8,479 m² | 1 · 128 m² | 10.1 m · 2 fl. |
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.
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Of 13,417 companies in sector 73300 we hold annual accounts for 6,898. 5,175 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded30-09-2016
Fiscal year end31-01
Activities, NACEBEL 2025
73300Public relations and communication consultancy
64210Activities of holding companies
70200Business and other management consultancy
Contact
E-mail
bart.borra@amode.beDamme
Scores and ratios are computed by Checked and are not a credit decision.