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Marbel

Active
Public limited companyfounded 197947 yrs activeDorpsstraat 41, 9870 Zulte, BelgiumKBO/BCE: BE 0419.855.590
Summary

Marbel has been active since 1979 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €5.6m and a net result of €488,603. Equity remains stable across the filed fiscal years (±0.5% per year). The computed 12-month bankruptcy probability is 0.5% (very low).

Checked score

Score 2024
Axes · tick = 2023
Profitability36▲+16
Solvency100=
Growth78▲+46
Track record100
Bankruptcy probability, 12 months
0.5% Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €390,000 at 30 days acceptable
Liquidity ample (current ratio 28.1 against 19.67 in 2023; short-term debt: 1.9% and cash: 11.8% of total assets), and 8.1% of the assets are financed with debt.
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Signals

Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · No NACE activity registered
No NACE activity is registered in the KBO, which is more common among companies that later fail.
KBO · activities
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 47 years 0 50 y
lowers risk · Lower-risk legal form
Companies with this legal form statistically fail less often than a BV.
KBO · legal form
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024
Solvency, return and age of the figures
Solvency
91.9%
Return on assets
8.1%
Age of the figures
21 mo
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 16-06-2026, 45 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
45 d early
2024
30 d early
2023
48 d late
2022
54 d early
2021
33 d early
2020
53 d early
2019
42 d early
← before the deadline after the deadline →
tick = median of all Belgian filings

This company filed its last 7 accounts on average 30 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.

Checked, nothing found (2)
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. Usually files around 28 June (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Position in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

On 1 October 1979, Marbel was incorporated.1 Total assets went from EUR 5.3 million in 2018 to EUR 6 million in 2024.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2018 and 2024

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Financials · fiscal year 2024, abbreviated schema, 2025 accounts filed, figures not processed yet

Equity
€5.6m▲ 9.7%
2023 · €5.1m
Total assets
€6.0m▲ 10.3%
2023 · €5.5m
Net result
€488,603
2023 · -€82,819
Working capital
€3.1m▲ 26.3%
2023 · €2.5m
Trend over the years
In euros
In euros
No line ticked in this group.

Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.

Every figure with its change against the fiscal year before
favourable unfavourable
Line20202021202220232024
Operating result-€25,765▼ 198%-€3,849▲ 85.1%€8,185-€61,026-€61,597▼ 0.9%
Net result€55,044-€114,587€12,470-€82,819€488,603
Equity€5.3m▲ 0.5%€5.1m▼ 2.4%€5.1m▲ 0.1%€5.1m▼ 1.6%€5.6m▲ 9.7%
Total assets€5.4m▲ 1.3%€5.4m▲ 0.6%€5.5m▲ 1.4%€5.5m▲ 0.2%€6.0m▲ 10.3%
Debt€53,075▲ 340%€57,500▲ 8.3%€131,925▲ 129%€250,420▲ 89.8%€347,695▲ 38.8%
Working capital€2.9m▼ 5.2%€3.0m▲ 2.2%€2.7m▼ 8.8%€2.5m▼ 10.4%€3.1m▲ 26.3%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
-€200,000€0€200,000€400,000Operating result 2020: -€25,765-€25,765Net result 2020: €55,044€55,044Operating result 2021: -€3,849-€3,849Net result 2021: -€114,587-€114,587Operating result 2022: €8,185€8,185Net result 2022: €12,470€12,470Operating result 2023: -€61,026-€61,026Net result 2023: -€82,819-€82,819Operating result 2024: -€61,597-€61,597Net result 2024: €488,603€488,60320202021202220232024-€200,000€0€200,000€400,000Operating result 2022: €8,185€8,180Net result 2022: €12,470€12,500Operating result 2023: -€61,026-€61,000Net result 2023: -€82,819-€82,800Operating result 2024: -€61,597-€61,600Net result 2024: €488,603€489,000202220232024
The operating result stays negative: a loss of €61,597 in 2024 against €61,026 in 2023; the loss grows and 2024 has the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €6.0m
Fixed assets €2.8m ▼ 2.3%
Current assets €3.2m ▲ 24.3%
Equity and liabilities €6.0m
Equity €5.6m ▲ 9.7%
Provisions €144,197 ▼ 13.5%
Debt €347,695 ▲ 38.8%
Debt's share of the balance-sheet total rises from 4.6% to 5.8%. Equity and debt are higher.
Key figures and ratios
2024 value · change against 2023
EBITDA
€10,028▼
2023 · €54,581
Cash flow
€560,229▲
2023 · €32,788
Current ratio
28.10▲
2023 · 19.67
Debt to equity
0.06▲
2023 · 0.05
ROE
8.8%▲
2023 · -1.6%
ROA
8.1%▲
2023 · -1.5%
Interest coverage
0.89▲
2023 · 0.36
Debt ≤ 1 year
€114,493▼
2023 · €131,570
Debt > 1 year
€233,050▲
2023 · €118,850
Income taxes
€82,733▲
2023 · €26,650
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 1,577 companies that looked in July 2024 the way this one looks now, 0.1% went bankrupt within 24 months and 97% are still going.

  • Medium-sized
  • 20 years or older
  • solvency 30% or more
  • a profit of 5% of the balance sheet or more
0.1% went bankrupt
3.1% stopped otherwise
97% still going

For this company itself Checked computes a bankruptcy probability of 0.5% 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 497,341 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.

The companies in ten equal groups, from lowest to highest expected share.
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% 1.0%
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% 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 1,577 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.

Annual accounts
Filed annual accounts As filed with the NBB · 2024 against 2023 · 60 lines
Balance sheet Code20232024
Assets
Total assets20/58€5.5m€6.0m▲
Fixed assets21/28€2.9m€2.8m▼
Tangible fixed assets22/27€2.1m€2.0m▼
Land and buildings22€2.1m€2.0m▼
Furniture and vehicles24€23,041€15,791▼
Other tangible fixed assets26€6,817€6,817=
Financial fixed assets28€779,377€779,377=
Current assets29/58€2.6m€3.2m▲
Amounts receivable within one year40/41€41,322€73,291▲
Trade receivables40€0-
Other amounts receivable41€41,322€73,291▲
Current investments50/53€2.5m€2.4m▼
Cash at bank and in hand54/58€38,574€715,832▲
Deferred charges and accrued income490/1€1,571€305▼
Equity and liabilities
Total equity and liabilities10/49€5.5m€6.0m▲
Equity10/15€5.1m€5.6m▲
Contributions10/11€545,366€545,366=
Capital10€545,366€545,366=
Issued capital100€545,366€545,366=
Reserves13€3.0m€3.5m▲
Non-distributable reserves130/1€54,537€54,537=
Legal reserve130€54,537€54,537=
Tax-exempt reserves132€429,311€375,551▼
Distributable reserves133€2.5m€3.0m▲
Profit (loss) carried forward14€1.6m€1.6m=
Provisions and deferred taxes16€166,758€144,197▼
Deferred taxes168€166,758€144,197▼
Amounts payable17/49€250,420€347,695▲
Amounts payable after more than one year17€118,850€233,050▲
Financial debts170/4€118,850€233,050▲
Amounts payable within one year42/48€131,570€114,493▼
Current portion of amounts payable after more than one year42€5,800€20,800▲
Trade debts44€263€6,996▲
Suppliers440/4€263€6,996▲
Advances received on contracts in progress46€120,000€0▼
Taxes, remuneration and social security45€0€72,590▲
Taxes450/3€0€65,131▲
Remuneration and social security454/9-€7,459
Other amounts payable47/48€5,507€14,107▲
Accrued charges and deferred income492/3€0€152▲
Income statement Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€115,607€71,626▼
Other operating charges640/8€14,975€13,150▼
Gross operating margin9900€69,555€23,178▼
Operating profit (loss)9901-€61,026-€61,597▼
Financial income75/76B€133,261€621,702▲
Recurring financial income75€133,261€621,702▲
Financial charges65/66B€150,965€11,328▼
Recurring financial charges65€150,965€11,328▼
Profit (loss) for the period before taxes9903-€78,729€548,776▲
Transfer from deferred taxes780€22,561€22,561=
Income taxes67/77€26,650€82,733▲
Profit (loss) for the period9904-€82,819€488,603▲
Transfer from tax-exempt reserves789€21,825€53,761▲
Profit (loss) for the period to be appropriated9905-€60,994€542,364▲
Appropriation of the result
Profit (loss) to be appropriated9906€1.6m€2.1m▲
Profit (loss) brought forward from the previous period14P€1.6m€1.6m▼
Transfer to equity691/2€0€542,364▲
To other reserves6921€0€542,364▲
Profit to be distributed694/7€0-
Return on contributions (dividend)694€0-

The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20202021202220232024Change
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€58,258€56,871€50,629€115,607€71,626▼ 38.0%
Other operating charges640/8-€10,136€12,978€14,975€13,150▼ 12.2%
Gross operating margin9900€42,462€63,158€71,792€69,555€23,178▼ 66.7%
Operating profit (loss)9901-€25,765-€3,849€8,185-€61,026-€61,597▼ 0.9%
Financial income75/76B-€101,083€48,958€133,261€621,702▲ 367%
Recurring financial income75€171,748€101,083€48,958€133,261€621,702▲ 367%
Financial charges65/66B-€31,739€36,340€150,965€11,328▼ 92.5%
Recurring financial charges65€49,362€31,739€36,340€150,965€11,328▼ 92.5%
Profit (loss) for the period before taxes9903€96,620€65,495€20,803-€78,729€548,776▲ 797%
Transfer from deferred taxes780-€8,256€8,403€22,561€22,561=
Transfer to deferred taxes680-€158,487€0---
Income taxes67/77€42,033€29,850€16,735€26,650€82,733▲ 210%
Profit (loss) for the period9904€55,044-€114,587€12,470-€82,819€488,603▲ 690%
Transfer from tax-exempt reserves789-€178,160€20,023€21,825€53,761▲ 146%
Profit (loss) for the period to be appropriated9905€81,673€63,573€32,494-€60,994€542,364▲ 989%
Line20202021202220232024Change
Assets
Total assets20/58€5.4m€5.4m€5.5m€5.5m€6.0m▲ 10.3%
Fixed assets21/28€2.4m€2.3m€2.7m€2.9m€2.8m▼ 2.3%
Tangible fixed assets22/27€1.6m€1.6m€1.9m€2.1m€2.0m▼ 3.1%
Land and buildings22-€1.5m€1.9m€2.1m€2.0m▼ 2.8%
Furniture and vehicles24---€23,041€15,791▼ 31.5%
Other tangible fixed assets26-€6,817€6,817€6,817€6,817=
Financial fixed assets28€759,559€779,377€779,377€779,377€779,377=
Current assets29/58€3.0m€3.1m€2.8m€2.6m€3.2m▲ 24.3%
Amounts receivable within one year40/41€15,001€11,939€13,554€41,322€73,291▲ 77.4%
Trade receivables40-€3,202€298€0--
Other amounts receivable41-€8,737€13,256€41,322€73,291▲ 77.4%
Current investments50/53€2.5m€2.6m€2.7m€2.5m€2.4m▼ 3.2%
Cash at bank and in hand54/58€459,716€417,949€42,471€38,574€715,832▲ 1,756%
Deferred charges and accrued income490/1---€1,571€305▼ 80.6%
Equity and liabilities
Total equity and liabilities10/49€5.4m€5.4m€5.5m€5.5m€6.0m▲ 10.3%
Equity10/15€5.3m€5.1m€5.1m€5.1m€5.6m▲ 9.7%
Contributions10/11€545,366€545,366€545,366€545,366€545,366=
Capital10-€545,366€545,366€545,366€545,366=
Issued capital100-€545,366€545,366€545,366€545,366=
Reserves13€3.1m€3.0m€3.0m€3.0m€3.5m▲ 16.5%
Non-distributable reserves130/1-€54,537€54,537€54,537€54,537=
Legal reserve130-€54,537€54,537€54,537€54,537=
Tax-exempt reserves132-€471,160€451,136€429,311€375,551▼ 12.5%
Distributable reserves133-€2.5m€2.5m€2.5m€3.0m▲ 21.9%
Profit (loss) carried forward14€1.6m€1.6m€1.6m€1.6m€1.6m=
Provisions and deferred taxes16€47,489€197,721€189,318€166,758€144,197▼ 13.5%
Deferred taxes168-€197,721€189,318€166,758€144,197▼ 13.5%
Amounts payable17/49€53,075€57,500€131,925€250,420€347,695▲ 38.8%
Amounts payable after more than one year17--€100,000€118,850€233,050▲ 96.1%
Financial debts170/4--€100,000€118,850€233,050▲ 96.1%
Amounts payable within one year42/48€52,235€55,802€30,739€131,570€114,493▼ 13.0%
Current portion of amounts payable after more than one year42-€10,000€16,000€5,800€20,800▲ 259%
Trade debts44€11,612€744€254€263€6,996▲ 2,560%
Suppliers440/4-€744€254€263€6,996▲ 2,560%
Advances received on contracts in progress46---€120,000€0▼ 100%
Taxes, remuneration and social security45-€43,721€13,738€0€72,590-
Taxes450/3-€43,721€13,738€0€65,131-
Remuneration and social security454/9----€7,459-
Other amounts payable47/48-€1,338€746€5,507€14,107▲ 156%
Accrued charges and deferred income492/3-€1,698€1,186€0€152-
Line20202021202220232024Change
Profit (loss) for the period9904€55,044-€114,587€12,470-€82,819€488,603▲ 690%
+ Depreciation and write-downs630€58,258€56,871€50,629€115,607€71,626▼ 38.0%
Operating cash flow (approximation)€113,302-€57,716€63,099€32,788€560,229▲ 1,609%
Investment in fixed assets (approximation)--€19,817-€413,469-€313,882-€6,045▲ 98.1%
Change in cash--€41,768-€375,478-€3,896€677,257▲ 17,482%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

Next filing, fiscal year 2026, expected by 31-07-2027
2026
16-06
NBB filing Annual accounts filed
fiscal year 2025 · full schema
2025
01-07
NBB filing Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial Back to profitnet €488,603
Net result €488,603 after one loss-making year.
17-09
NBB filing Annual accounts filed
fiscal year 2023 · abbreviated schema · 48 days late
2023
07-06
NBB filing Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial Back to profitnet €12,470
Net result €12,470 after one loss-making year.
28-06
NBB filing Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial Weakest financial yearnet -€114,587
Net result drops to -€114,587, the lowest in the series; recovery starts the following year.
08-06
NBB filing Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial Back to profitnet €55,044
Net result €55,044 after one loss-making year.
19-06
NBB filing Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
05-07
NBB filing Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
25-06
NBB filing Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
19-06
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 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
No directors read yet: 0 of 2 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Zulte · 1 establishment unit since 1979
seat establishment The establishment unit on the map
Ground area
1,416 m²
Building footprint
297 m²
Volume, LiDAR
1,710 m³
Parcel 44037A0991/00N000, Flanders · tallest building 9.5 m, ±2 floors. Linked by address, not a title deed.
4 companies at this address See who is registered here
1 establishment unit
Marbel
Dorpsstraat 41, 9870 ZulteNACE 70120
since 19792.292.459.101
1 parcel
Flanders 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
44037A0991/00N000 Flanders 1,416 m² 1 · 297 m² 9.5 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.

Structure & network

Owners and holdings

2 holdings

Owners 0

The accounts to 31-12-2022 list no shareholders, and no other source names one.

Holdings 2

According to the 2022 annual accounts of Marbel and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.

Connections & network

No current directors or connected companies found in the register.

Recognitions · licences · registrations

Legal Entity Identifier

5493006X0G5U4D0H5817
no longer live in the LEI register

Company details

Identification
Legal formPublic limited company
Founded01-10-1979
Fiscal year end31-12
E-invoicing
Not found in the Peppol register

No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.

What can you do?

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If you follow this company, Checked tells you the day it appears in the Peppol register.

Register as of 1 October 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.