MARBIE
ActiveSummary
The computed 12-month bankruptcy probability of MARBIE is 1.7% (moderate). The 2024 annual accounts show negative equity (-€238,121) and a net result of -€41,123. Equity is shrinking by ~25.2% per year across the filed fiscal years. Its solvency ranks better than 7% of 15872 sector peers (fiscal year 2024). The company has been active since 1987 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability0=
Solvency0=
Growth32=
Track record100
Bankruptcy probability, 12 months
1.7%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.34 against 0.41 in 2023; short-term debt: 266.4% and cash: 7% of total assets), and equity is negative.
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Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk
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
-175.3%
Return on assets
-30.3%
Age of the figures
24 mo
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 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year -€238,121
raises risk · Annual accounts not filed
The financial year that closed on 30-09-2025 was due at the National Bank by 30-04-2026. Nothing is on record, 152 days later.
NBB · 10 filingsPosition against the passed deadline
30-09-2025 close30-04-2026 deadline29-09-2026 today
raises risk · Filed more than 90 days late
The financial year that closed on 30-09-2024 was due by 30-04-2025 and was filed on 20-03-2026, 324 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 10 filingsDeviation from the deadline
2025
not filed
2024
324 d late
2023
590 d late
2022
956 d late
2021
342 d late
2020
335 d late
2019
144 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 449 days after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (1)
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2024, micro schema
Equity
-€238,121▼ 20.9%
2023 · -€196,998
Total assets
€135,835▼ 15.2%
2023 · €160,244
Net result
-€41,123▼ 31.0%
2023 · -€31,397
Working capital
-€239,259▼ 17.4%
2023 · -€203,838
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result-€39,168▼ 37.5%-€33,773▲ 13.8%-€39,035▼ 15.6%-€29,960▲ 23.2%-€39,828▼ 32.9%
Net result-€42,028below the sector's middle half▼ 43.2%-€35,174below the sector's middle half▲ 16.3%-€40,259below the sector's middle half▼ 14.5%-€31,397below the sector's middle half▲ 22.0%-€41,123below the sector's middle half▼ 31.0%
Equity-€105,168below the sector's middle half▼ 66.6%-€125,341below the sector's middle half▼ 19.2%-€165,601below the sector's middle half▼ 32.1%-€196,998below the sector's middle half▼ 19.0%-€238,121below the sector's middle half▼ 20.9%
Total assets€191,661within the sector's middle half▼ 9.2%€198,392within the sector's middle half▲ 3.5%€169,663within the sector's middle half▼ 14.5%€160,244within the sector's middle half▼ 5.6%€135,835within the sector's middle half▼ 15.2%
Debt€296,828▲ 8.3%€323,733▲ 9.1%€335,264▲ 3.6%€357,242▲ 6.6%€373,956▲ 4.7%
Working capital-€115,465below the sector's middle half▼ 39.1%-€149,030below the sector's middle half▼ 29.1%-€181,972below the sector's middle half▼ 22.1%-€203,838below the sector's middle half▼ 12.0%-€239,259below the sector's middle half▼ 17.4%
Solvency-54.9%below the sector's middle half▼ 24.9pp-63.2%below the sector's middle half▼ 8.3pp-97.6%below the sector's middle half▼ 34.4pp-122.9%below the sector's middle half▼ 25.3pp-175.3%below the sector's middle half▼ 52.4pp
Current ratio0.61below the sector's middle half▼ 0.090.53below the sector's middle half▼ 0.070.45below the sector's middle half▼ 0.090.41below the sector's middle half▼ 0.030.34below the sector's middle half▼ 0.08
Return on assets (ROA)-21.9%below the sector's middle half▼ 8.0pp-17.7%below the sector's middle half▲ 4.2pp-23.7%below the sector's middle half▼ 6.0pp-19.6%below the sector's middle half▲ 4.1pp-30.3%below the sector's middle half▼ 10.7pp
Staff (FTE)0.5below the sector's middle half▼ 50.0%1▲ 100%11=
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €39,828 in 2024 against €29,960 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 €135,835
Fixed assets
€13,189 ▼ 16.0%
Current assets
€122,645 ▼ 15.2%
Key figures and ratios
EBITDA
-€32,277▼
2023 · -€22,727
Cash flow
-€33,572▼
2023 · -€24,164
Quick ratio
0.03▼
2023 · 0.05
Debt to equity
-1.57▲
2023 · -1.81
Interest coverage
-24.92▼
2023 · -15.82
Debt ≤ 1 year
€361,904▲
2023 · €348,385
Staff costs
€3,225▼
2023 · €3,986
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,639 companies that looked in July 2024 the way this one looks now, 4.1% went bankrupt within 24 months and 84% are still going.
- Micro
- 20 years or older
- negative equity
- a loss of 10% of the balance sheet or more
4.1%
went bankrupt
9.8%
stopped otherwise
84%
still going
A further 2.0% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.7% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 6,639 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
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €23,346 | €12,563 | €3,986 | €3,225 | ▼ 19.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,840 | €4,021 | €7,233 | €7,233 | €7,551 | ▲ 4.4% |
| Other operating charges640/8 | - | €4,071 | €5,424 | €4,518 | €6,135 | ▲ 35.8% |
| Gross operating margin9900 | -€10,551 | -€2,335 | -€13,815 | -€14,223 | -€22,916 | ▼ 61.1% |
| Operating profit (loss)9901 | -€39,168 | -€33,773 | -€39,035 | -€29,960 | -€39,828 | ▼ 32.9% |
| Financial income75/76B | - | €307 | €444 | - | - | - |
| Recurring financial income75 | - | €307 | €444 | - | - | - |
| Financial charges65/66B | - | €1,708 | €1,669 | €1,437 | €1,295 | ▼ 9.9% |
| Recurring financial charges65 | €2,860 | €1,708 | €1,669 | €1,437 | €1,295 | ▼ 9.9% |
| Profit (loss) for the period before taxes9903 | -€42,028 | -€35,174 | -€40,259 | -€31,397 | -€41,123 | ▼ 31.0% |
| Profit (loss) for the period9904 | -€42,028 | -€35,174 | -€40,259 | -€31,397 | -€41,123 | ▼ 31.0% |
| Profit (loss) for the period to be appropriated9905 | -€42,028 | -€35,174 | -€40,259 | -€31,397 | -€41,123 | ▼ 31.0% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €191,661 | €198,392 | €169,663 | €160,244 | €135,835 | ▼ 15.2% |
| Fixed assets21/28 | €14,600 | €27,990 | €22,931 | €15,698 | €13,189 | ▼ 16.0% |
| Tangible fixed assets22/27 | €14,169 | €27,559 | €22,500 | €15,267 | €12,758 | ▼ 16.4% |
| Plant, machinery and equipment23 | - | €27,559 | €22,500 | €15,267 | €12,758 | ▼ 16.4% |
| Financial fixed assets28 | €431 | €431 | €431 | €431 | €431 | = |
| Current assets29/58 | €177,061 | €170,401 | €146,732 | €144,546 | €122,645 | ▼ 15.2% |
| Stocks and contracts in progress3 | €163,861 | €152,852 | €142,459 | €128,137 | €111,843 | ▼ 12.7% |
| Stocks30/36 | - | €152,852 | €142,459 | €128,137 | €111,843 | ▼ 12.7% |
| Amounts receivable within one year40/41 | €1,039 | €1,608 | €1,039 | €2,758 | €1,243 | ▼ 54.9% |
| Trade receivables40 | - | €1,583 | €1,014 | €2,733 | €1,218 | ▼ 55.4% |
| Other amounts receivable41 | - | €25 | €25 | €25 | €25 | = |
| Cash at bank and in hand54/58 | €12,161 | €15,942 | €3,235 | €13,651 | €9,559 | ▼ 30.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €191,661 | €198,392 | €169,663 | €160,244 | €135,835 | ▼ 15.2% |
| Equity10/15 | -€105,168 | -€125,341 | -€165,601 | -€196,998 | -€238,121 | ▼ 20.9% |
| Contributions10/11 | €55,776 | €55,776 | €55,776 | €55,776 | €55,776 | = |
| Capital10 | - | €55,776 | €55,776 | €55,776 | €55,776 | = |
| Issued capital100 | - | €55,776 | €55,776 | €55,776 | €55,776 | = |
| Revaluation surpluses12 | - | €21,000 | €15,000 | €15,000 | €15,000 | = |
| Reserves13 | - | €9,000 | €15,000 | €15,000 | €15,000 | = |
| Distributable reserves133 | - | €9,000 | €15,000 | €15,000 | €15,000 | = |
| Profit (loss) carried forward14 | -€175,944 | -€211,118 | -€251,377 | -€282,774 | -€323,897 | ▼ 14.5% |
| Amounts payable17/49 | €296,828 | €323,733 | €335,264 | €357,242 | €373,956 | ▲ 4.7% |
| Amounts payable within one year42/48 | €292,526 | €319,432 | €328,704 | €348,385 | €361,904 | ▲ 3.9% |
| Trade debts44 | €10,584 | €13,784 | €17,359 | €9,994 | €6,230 | ▼ 37.7% |
| Suppliers440/4 | - | €13,784 | €17,359 | €9,994 | €6,230 | ▼ 37.7% |
| Taxes, remuneration and social security45 | - | €5,144 | €2,256 | €4,177 | €1,356 | ▼ 67.5% |
| Taxes450/3 | - | €5,144 | €2,256 | €4,177 | €1,356 | ▼ 67.5% |
| Other amounts payable47/48 | - | €300,504 | €309,090 | €334,214 | €354,318 | ▲ 6.0% |
| Accrued charges and deferred income492/3 | - | €4,301 | €6,560 | €8,858 | €12,052 | ▲ 36.1% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€42,028 | -€35,174 | -€40,259 | -€31,397 | -€41,123 | ▼ 31.0% |
| + Depreciation and write-downs630 | €3,840 | €4,021 | €7,233 | €7,233 | €7,551 | ▲ 4.4% |
| Operating cash flow (approximation) | -€38,188 | -€31,153 | -€33,027 | -€24,164 | -€33,572 | ▼ 38.9% |
| Investment in fixed assets (approximation) | - | -€17,411 | -€2,173 | €0 | -€5,042 | - |
| Change in cash | - | €3,781 | -€12,707 | €10,417 | -€4,092 | ▼ 139% |
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
2026
20-03
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 324 days late
2025
11-12
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 590 days late
11-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 956 days late
2023
07-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 342 days late
2022
31-03
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 335 days late
2020
30-09
Financial
Weakest financial yearnet -€42,028
Net result drops to -€42,028, the lowest in the series; recovery starts the following year.
21-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 144 days late
21-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 510 days late
2018
10-12
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 224 days late
2017
29-12
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 243 days late
2016
29-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 121 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Location & real-estate footprint
Registered office, Vorst · 1 establishment unit since 1987
Ground area
144 m²
Building footprint
120 m²
Volume, LiDAR
1,257 m³
Parcel 21384D0212/00K003, Brussels · tallest building 12.6 m, ±4 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
LA GRANDE MAROQUINERIE MB
since 19872.030.675.303
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21384D0212/00K003 | Brussels | 144 m² | 1 · 120 m² | 12.6 m · 4 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.
Recognitions · licences · registrations
Dual-learning approval
2 live approvals · 1 endedWinkelmedewerker (vwo)
Winkelmedewerker duaal (so)
Show 1 ended approval
Winkelbediende (so)
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 118 companies in sector 46498 we hold annual accounts for 74. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded01-10-1987
Fiscal year end30-09
Activities, NACEBEL 2025
46498Wholesale trade
47722Retail trade
E-invoicing
Reachable via Peppol
Peppol ID
0208:0432173602
Also
9925:BE0432173602
Registered
03-02-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.