MARBAT
ActiveSummary
The computed 12-month bankruptcy probability of MARBAT is 2.3% (moderate). The 2024 annual accounts show equity of €100,878 and a net result of €27,504. Equity is growing by ~28.4% per year across the filed fiscal years. Its solvency ranks better than 33% of 36375 sector peers (fiscal year 2024). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability79▲+3
Solvency56▲+1
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
2.3%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €5,000 at 30 days acceptable
Liquidity tight (current ratio 1.39 against 1.33 in 2023; short-term debt: 56.8% and cash: 6.7% of total assets), and 68.7% of the assets are financed with debt.
Credit check for your own amount and term
Open the credit simulator : see how the verdict changes with amount, term and advance.
Signals
Four 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 · 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
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← 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 2024Solvency, return and age of the figures
Solvency
31.3%
Return on assets
8.5%
Age of the figures
21 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 09-10-2025, 70 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 · 5 filingsDeviation from the deadline
2025
not confirmed
2024
70 d late
2023
92 d late
2022
84 d late
2021
101 d late
2020
31 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Can you trust this company with building work?Contractor check Can you accept this company as a client under the anti-money-laundering law?AML client file How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2024, micro schema
Equity
€100,878▲ 37.5%
2023 · €73,375
Total assets
€321,791▲ 32.0%
2023 · €243,776
Net result
€27,504▲ 86.9%
2023 · €14,713
Working capital
€71,117▲ 48.2%
2023 · €47,992
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
Line20202021202220232024
Operating result€29,126-€39,222▲ 34.7%€12,909▼ 67.1%€23,303▲ 80.5%€44,738▲ 92.0%
Net result€19,830-€26,692▲ 34.6%€7,140▼ 73.3%€14,713▲ 106%€27,504▲ 86.9%
Equity€24,830-€51,522▲ 107%€58,662▲ 13.9%€73,375▲ 25.1%€100,878▲ 37.5%
Total assets€34,593-€153,368▲ 343%€167,165▲ 9.0%€243,776▲ 45.8%€321,791▲ 32.0%
Debt€9,763-€101,845▲ 943%€108,503▲ 6.5%€170,402▲ 57.0%€220,913▲ 29.6%
Working capital€22,539-€11,470▼ 49.1%€31,804▲ 177%€47,992▲ 50.9%€71,117▲ 48.2%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 92% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €321,791
Fixed assets
€67,865 ▲ 33.5%
Current assets
€253,925 ▲ 31.6%
Equity and liabilities €321,791
Equity
€100,878 ▲ 37.5%
Debt
€220,913 ▲ 29.6%
Debt's share of the balance-sheet total falls from 69.9% to 68.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€69,594▲
2023 · €40,083
Cash flow
€52,359▲
2023 · €31,493
Current ratio
1.39▲
2023 · 1.33
Quick ratio
1.27▲
2023 · 1.18
Debt to equity
2.19▼
2023 · 2.32
ROE
27.3%▲
2023 · 20.1%
ROA
8.5%▲
2023 · 6.0%
Interest coverage
27.86▼
2023 · 48.56
Debt ≤ 1 year
€182,808▲
2023 · €144,940
Debt > 1 year
€32,549▲
2023 · €25,462
Income taxes
€14,754▲
2023 · €7,812
Staff costs
€749▼
2023 · €1,312
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €630 | €1,946 | €1,312 | €749 | ▼ 43.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €79 | €2,284 | €14,090 | €16,780 | €24,856 | ▲ 48.1% |
| Other operating charges640/8 | - | €890 | €2,512 | €3,413 | €3,406 | ▼ 0.2% |
| Gross operating margin9900 | €36,309 | €43,026 | €31,458 | €44,808 | €73,748 | ▲ 64.6% |
| Operating profit (loss)9901 | €29,126 | €39,222 | €12,909 | €23,303 | €44,738 | ▲ 92.0% |
| Financial income75/76B | - | €208 | €21 | €47 | €17 | ▼ 62.7% |
| Recurring financial income75 | €33 | €208 | €21 | €47 | €17 | ▼ 62.7% |
| Financial charges65/66B | - | €77 | €432 | €825 | €2,498 | ▲ 203% |
| Recurring financial charges65 | €48 | €77 | €432 | €825 | €2,498 | ▲ 203% |
| Profit (loss) for the period before taxes9903 | €29,110 | €39,352 | €12,498 | €22,524 | €42,258 | ▲ 87.6% |
| Income taxes67/77 | €9,280 | €12,660 | €5,358 | €7,812 | €14,754 | ▲ 88.9% |
| Profit (loss) for the period9904 | €19,830 | €26,692 | €7,140 | €14,713 | €27,504 | ▲ 86.9% |
| Profit (loss) for the period to be appropriated9905 | €19,830 | €26,692 | €7,140 | €14,713 | €27,504 | ▲ 86.9% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €34,593 | €153,368 | €167,165 | €243,776 | €321,791 | ▲ 32.0% |
| Fixed assets21/28 | €2,291 | €40,052 | €52,776 | €50,844 | €67,865 | ▲ 33.5% |
| Tangible fixed assets22/27 | €2,291 | €40,052 | €52,776 | €50,844 | €67,865 | ▲ 33.5% |
| Plant, machinery and equipment23 | - | - | €8,554 | €13,190 | €10,160 | ▼ 23.0% |
| Furniture and vehicles24 | - | €40,052 | €44,222 | €37,655 | €57,706 | ▲ 53.2% |
| Current assets29/58 | €32,302 | €113,316 | €114,389 | €192,932 | €253,925 | ▲ 31.6% |
| Stocks and contracts in progress3 | - | - | €22,400 | €22,400 | €22,400 | = |
| Stocks30/36 | - | - | €22,400 | €22,400 | €22,400 | = |
| Amounts receivable within one year40/41 | €27,641 | €85,148 | €76,085 | €163,927 | €209,808 | ▲ 28.0% |
| Trade receivables40 | - | €56,788 | €60,190 | €135,380 | €153,598 | ▲ 13.5% |
| Other amounts receivable41 | - | €28,360 | €15,896 | €28,547 | €56,210 | ▲ 96.9% |
| Cash at bank and in hand54/58 | €4,661 | €28,168 | €15,904 | €6,605 | €21,718 | ▲ 229% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €34,593 | €153,368 | €167,165 | €243,776 | €321,791 | ▲ 32.0% |
| Equity10/15 | €24,830 | €51,522 | €58,662 | €73,375 | €100,878 | ▲ 37.5% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Capital10 | - | €5,000 | - | - | - | - |
| Issued capital100 | - | €5,000 | - | - | - | - |
| Reserves13 | €19,830 | €46,430 | €53,570 | €68,283 | €95,786 | ▲ 40.3% |
| Non-distributable reserves130/1 | - | €30 | €30 | €30 | €30 | = |
| Legal reserve130 | - | €30 | - | - | - | - |
| Other1319 | - | - | €30 | €30 | €30 | = |
| Distributable reserves133 | - | €46,400 | €53,540 | €68,252 | €95,756 | ▲ 40.3% |
| Profit (loss) carried forward14 | - | €92 | €92 | €92 | €92 | = |
| Amounts payable17/49 | €9,763 | €101,845 | €108,503 | €170,402 | €220,913 | ▲ 29.6% |
| Amounts payable after more than one year17 | - | - | €25,918 | €25,462 | €32,549 | ▲ 27.8% |
| Financial debts170/4 | - | - | €25,918 | €25,462 | €32,549 | ▲ 27.8% |
| Amounts payable within one year42/48 | €9,763 | €101,845 | €82,586 | €144,940 | €182,808 | ▲ 26.1% |
| Current portion of amounts payable after more than one year42 | - | €43,196 | €8,639 | €11,599 | €20,079 | ▲ 73.1% |
| Trade debts44 | €483 | €21,593 | €42,113 | €75,202 | €85,641 | ▲ 13.9% |
| Suppliers440/4 | - | €21,593 | €42,113 | €75,202 | €85,641 | ▲ 13.9% |
| Taxes, remuneration and social security45 | - | €29,940 | €24,126 | €51,288 | €69,637 | ▲ 35.8% |
| Taxes450/3 | - | €21,940 | €16,126 | €23,938 | €35,400 | ▲ 47.9% |
| Remuneration and social security454/9 | - | €8,000 | €8,000 | €27,350 | €34,238 | ▲ 25.2% |
| Other amounts payable47/48 | - | €7,116 | €7,707 | €6,851 | €7,451 | ▲ 8.7% |
| Accrued charges and deferred income492/3 | - | - | - | - | €5,556 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €19,830 | €26,692 | €7,140 | €14,713 | €27,504 | ▲ 86.9% |
| + Depreciation and write-downs630 | €79 | €2,284 | €14,090 | €16,780 | €24,856 | ▲ 48.1% |
| Operating cash flow (approximation) | €19,909 | €28,977 | €21,230 | €31,493 | €52,359 | ▲ 66.3% |
| Investment in fixed assets (approximation) | - | -€40,045 | -€26,814 | -€14,849 | -€41,877 | ▼ 182% |
| Change in cash | - | €23,507 | -€12,264 | -€9,299 | €15,113 | ▲ 263% |
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
2025
09-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 70 days late
2024
31-12
Financial
Highest result since 2020net €27,504 ▲86.9%
Operating result €44,738, net result €27,504, both a record.
31-12
Financial
Equity above €100,000Eq €100,878 ▲37.5%
5 profitable years in a row build equity to €100,878.
31-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 92 days late
2023
23-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 84 days late
2022
31-12
Financial
Weakest financial yearnet €7,140 ▼73.3%
Net result drops to €7,140, the lowest in the series; recovery starts the following year.
09-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 101 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
1 act for this company is 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, Ninove · 1 establishment unit since 2019
Ground area
284 m²
Building footprint
198 m²
Volume, LiDAR
683 m³
Parcel 41362B1841/00L000, Flanders · tallest building 8.6 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
MARBAT
since 20192.297.874.867
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41362B1841/00L000 | Flanders | 284 m² | 1 · 198 m² | 8.6 m · 1 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.
Similar companies · same sector, comparable size
DECOAMCO
BE 0687.816.112
Namur · Eq €100,861
AG DECORATION
BE 0650.840.108
Aubange · Eq €100,819
SQUARO TECHNICS
BE 0423.926.721
Lennik · Eq €100,941
GM-SCHILDERWERKEN
BE 1007.141.991
Dilsen-Stokkem · Eq €100,773
Taymans Frank
BE 0894.333.961
Overijse · Eq €100,668
Of 7,867 companies in sector 43341 we hold annual accounts for 2,664. 2,271 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
Founded24-12-2019
Fiscal year end31-12
Activities, NACEBEL 2025
43341Painting of buildings
43120Site preparation
43212Electrical installation work in industrial facilities
43221Plumbing work
43410Roofing work
81210General cleaning of buildings
Scores and ratios are computed by Checked and are not a credit decision.