MARBL
ActiveSummary
The annual accounts of MARBL for fiscal year 2025 show a net loss of 60% of the equity at the start of that year. The 2025 annual accounts show equity of €43k and a net result of €-64k. Equity is growing by ~10.5% per year across the filed fiscal years. Its solvency ranks better than 29% of 8692 sector peers (fiscal year 2025). The company has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-70
Solvency54▼-20
Growth52=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2k at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity short (current ratio 0.7 against 1.22 in 2024; short-term debt: 71.1% of total assets), and 71.1% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer 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 2025Solvency, return and age of the figures
Solvency
28.9%
Return on assets
-42.9%
Age of the figures
12 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
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 16-03-2026, 45 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
45 d early
2024
36 d early
2023
43 d early
2022
34 d early
2021
25 d early
2020
26 d late
2019
42 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€43k▼ 59.8%
2024 · €107k
2018: €39klowest in 8 years
2019: €48k▲ +23.6% vs 2018
2020: €76k▲ +56.6% vs 2019
2021: €92k▲ +21.4% vs 2020
2022: €92k▲ +0.6% vs 2021
2023: €105k▲ +14.2% vs 2022
2024: €107k▲ +2.0% vs 2023highest in 8 years
2025: €43k▼ -59.8% vs 2024
2018 → 2025
Total assets
€150k▼ 31.8%
2024 · €219k
2018: €185k
2019: €190k▲ +2.6% vs 2018
2020: €128k▼ -32.7% vs 2019lowest in 8 years
2021: €165k▲ +29.2% vs 2020
2022: €146k▼ -11.4% vs 2021
2023: €187k▲ +27.7% vs 2022
2024: €219k▲ +17.4% vs 2023highest in 8 years
2025: €150k▼ -31.8% vs 2024
2018 → 2025
Net result
€-64k
2024 · €2k
2018: €34k
2019: €84k▲ +144% vs 2018highest in 8 years
2020: €27k▼ -67.6% vs 2019
2021: €16k▼ -40.9% vs 2020
2022: €561▼ -96.5% vs 2021
2023: €46k▲ +8129% vs 2022
2024: €2k▼ -95.5% vs 2023
2025: €-64k▼ -3218% vs 2024lowest in 8 years
2018 → 2025
Working capital
€-32k
2024 · €24k
2018: €30k
2019: €42k▲ +39.9% vs 2018
2020: €59k▲ +40.0% vs 2019highest in 8 years
2021: €19k▼ -68.5% vs 2020
2022: €14k▼ -26.9% vs 2021
2023: €23k▲ +68.8% vs 2022
2024: €24k▲ +5.8% vs 2023
2025: €-32k▼ -229% vs 2024lowest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€92k-€92k▲ 0.6%€105k▲ 14.2%€107k▲ 2.0%€43k▼ 59.8%
2021: €92k
2022: €92k▲ +0.6% vs 2021
2023: €105k▲ +14.2% vs 2022
2024: €107k▲ +2.0% vs 2023highest in 5 years
2025: €43k▼ -59.8% vs 2024lowest in 5 years
Operating result€15k-€4k▼ 77.1%€53k▲ 1,408%€4k▼ 92.4%€-63k
2021: €15k
2022: €4k▼ -77.1% vs 2021
2023: €53k▲ +1408% vs 2022highest in 5 years
2024: €4k▼ -92.4% vs 2023
2025: €-63k▼ -1663% vs 2024lowest in 5 years
Net result€16k-€561▼ 96.5%€46k▲ 8,129%€2k▼ 95.5%€-64k
2021: €16k
2022: €561▼ -96.5% vs 2021
2023: €46k▲ +8129% vs 2022highest in 5 years
2024: €2k▼ -95.5% vs 2023
2025: €-64k▼ -3218% vs 2024lowest in 5 years
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €63k after €4k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €121k
Fixed assets
€46k ▼ 25.4%
Current assets
€75k ▼ 45.1%
Equity and liabilities €150k
Equity
€43k ▼ 59.8%
Debt
€106k ▼ 5.0%
Debt's share of the balance-sheet total rises from 51.0% to 71.1%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-40k▼
2024 · €30k
Cash flow
€-41k▼
2024 · €28k
Current ratio
0.70▼
2024 · 1.22
Debt to equity
2.46▲
2024 · 1.04
ROE
-148.5%▼
2024 · 1.9%
ROA
-42.9%▼
2024 · 0.9%
Interest coverage
-28.29▼
2024 · 25.03
Debt ≤ 1 year
€106k▼
2024 · €112k
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 · 2025 against 2024 · 38 lines
Balance sheet
Code20242025
Assets
Total assets20/58€219k€150k▼
Formation expenses20€21k€29k▲
Fixed assets21/28€62k€46k▼
Intangible fixed assets21€62k€46k▼
Current assets29/58€136k€75k▼
Amounts receivable within one year40/41€116k€75k▼
Trade receivables40€106k€75k▼
Other amounts receivable41€10k-
Cash at bank and in hand54/58€20k-
Equity and liabilities
Total equity and liabilities10/49€219k€150k▼
Equity10/15€107k€43k▼
Contributions10/11€19k€19k=
Reserves13€87k€57k▼
Distributable reserves133€87k€57k▼
Profit (loss) carried forward14€2k€-32k▼
Amounts payable17/49€112k€106k▼
Amounts payable within one year42/48€112k€106k▼
Financial debts43-€22k
Credit institutions430/8-€22k
Trade debts44€111k€77k▼
Suppliers440/4€111k€77k▼
Taxes, remuneration and social security45€865€7k▲
Taxes450/3€865€7k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€26k€23k▼
Other operating charges640/8€631€854▲
Gross operating margin9900€30k€-39k▼
Operating profit (loss)9901€4k€-63k▼
Financial income75/76B€88€77▼
Recurring financial income75€88€77▼
Financial charges65/66B€1k€1k▲
Recurring financial charges65€1k€1k▲
Profit (loss) for the period before taxes9903€3k€-64k▼
Income taxes67/77€865-
Profit (loss) for the period9904€2k€-64k▼
Profit (loss) for the period to be appropriated9905€2k€-64k▼
Appropriation of the result
Profit (loss) to be appropriated9906€2k€-62k▼
Profit (loss) brought forward from the previous period14P-€2k
Transfer from equity791/2-€30k
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9k | €15k | €19k | €26k | €23k | ▼ 9.5% |
| Other operating charges640/8 | €480 | €815 | €560 | €631 | €854 | ▲ 35.3% |
| Gross operating margin9900 | €25k | €19k | €73k | €30k | €-39k | ▼ 228% |
| Operating profit (loss)9901 | €15k | €4k | €53k | €4k | €-63k | ▼ 1,663% |
| Financial income75/76B | €5k | €369 | €21 | €88 | €77 | ▼ 12.4% |
| Recurring financial income75 | €5k | €369 | €21 | €88 | €77 | ▼ 12.4% |
| Financial charges65/66B | €297 | €3k | €2k | €1k | €1k | ▲ 18.2% |
| Recurring financial charges65 | €297 | €3k | €2k | €1k | €1k | ▲ 18.2% |
| Profit (loss) for the period before taxes9903 | €20k | €1k | €51k | €3k | €-64k | ▼ 2,295% |
| Income taxes67/77 | €4k | €696 | €5k | €865 | - | - |
| Profit (loss) for the period9904 | €16k | €561 | €46k | €2k | €-64k | ▼ 3,218% |
| Profit (loss) for the period to be appropriated9905 | €16k | €561 | €46k | €2k | €-64k | ▼ 3,218% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €165k | €146k | €187k | €219k | €150k | ▼ 31.8% |
| Formation expenses20 | - | - | - | €21k | €29k | ▲ 35.7% |
| Fixed assets21/28 | €73k | €79k | €82k | €62k | €46k | ▼ 25.4% |
| Intangible fixed assets21 | €73k | €79k | €82k | €62k | €46k | ▼ 25.4% |
| Current assets29/58 | €92k | €68k | €104k | €136k | €75k | ▼ 45.1% |
| Stocks and contracts in progress3 | - | €15k | - | - | - | - |
| Stocks30/36 | - | €15k | - | - | - | - |
| Amounts receivable within one year40/41 | €83k | €53k | €65k | €116k | €75k | ▼ 35.4% |
| Trade receivables40 | €61k | €46k | €55k | €106k | €75k | ▼ 29.1% |
| Other amounts receivable41 | €22k | €7k | €10k | €10k | - | - |
| Cash at bank and in hand54/58 | €9k | €45 | €40k | €20k | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €165k | €146k | €187k | €219k | €150k | ▼ 31.8% |
| Equity10/15 | €92k | €92k | €105k | €107k | €43k | ▼ 59.8% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Capital10 | €19k | €19k | - | - | - | - |
| Issued capital100 | €19k | €19k | - | - | - | - |
| Reserves13 | €73k | €74k | €87k | €87k | €57k | ▼ 34.8% |
| Non-distributable reserves130/1 | €2k | €2k | - | - | - | - |
| Legal reserve130 | €2k | €2k | - | - | - | - |
| Distributable reserves133 | €71k | €72k | €87k | €87k | €57k | ▼ 34.8% |
| Profit (loss) carried forward14 | - | - | - | €2k | €-32k | ▼ 1,651% |
| Amounts payable17/49 | €73k | €54k | €81k | €112k | €106k | ▼ 5.0% |
| Amounts payable within one year42/48 | €73k | €54k | €81k | €112k | €106k | ▼ 5.0% |
| Current portion of amounts payable after more than one year42 | €46k | €20k | - | - | - | - |
| Financial debts43 | - | - | - | - | €22k | - |
| Credit institutions430/8 | - | - | - | - | €22k | - |
| Trade debts44 | €11k | €33k | €43k | €111k | €77k | ▼ 30.5% |
| Suppliers440/4 | €11k | €33k | €43k | €111k | €77k | ▼ 30.5% |
| Taxes, remuneration and social security45 | €17k | €537 | €5k | €865 | €7k | ▲ 719% |
| Taxes450/3 | €17k | €537 | €5k | €865 | €7k | ▲ 719% |
| Other amounts payable47/48 | - | - | €33k | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €16k | €561 | €46k | €2k | €-64k | ▼ 3,218% |
| + Depreciation and write-downs630 | €9k | €15k | €19k | €26k | €23k | ▼ 9.5% |
| Operating cash flow (approximation) | €25k | €15k | €65k | €28k | €-41k | ▼ 248% |
| Investment in fixed assets (approximation) | - | €-20k | €-23k | €-5k | €-7k | ▼ 41.6% |
| Change in cash | - | €-9k | €40k | €-19k | - | - |
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 2026, expected by
2026
16-03
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
30-09
Financial
Weakest financial yearnet €-64k
Net result drops to €-64k, the lowest in the series.
25-03
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
18-03
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-09
Financial
Equity above €100kEq €105k ▲14.2%
6 profitable years in a row build equity to €105k.
27-03
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
05-04
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
26-05
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 26 days late
2020
19-03
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
30-09
Financial
Highest result since 2018net €84k ▲144%
Operating result €87k, net result €84k, both a record.
19-03
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
21-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 52 days late
2017
27-04
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 6 acts read
About the unread acts
We know of 6 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
6 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, Evergem · 2 establishment units since 2014
Ground area
1,621 m²
Building footprint
234 m²
Volume, LiDAR
1,382 m³
2 parcels, Flanders · tallest building 9.7 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
2 establishment units
ADDaBOX
since 20142.246.502.479
ADDaBOX
since 20142.246.502.677
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 37009A0332/00Y000 | Flanders | 1,210 m² | 1 · 148 m² | 9.7 m · 2 fl. |
| 44302F0588/00G002 | Flanders | 411 m² | 1 · 87 m² | 7.3 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2023 · 3 entries · 12,089 EUR awarded · 12,089 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 7,500 EUR | 7,500 EUR |
| 2022 | 2 | 4,589 EUR | 4,589 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Subsidies voor internationaal ondernemen
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Of 82,632 companies in sector 70200 we hold annual accounts for 52,575. 37,236 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
Founded12-12-2014
Fiscal year end30-09
Activities, NACEBEL 2025
70200Business and other management consultancy
85592Vocational training
Scores and ratios are computed by Checked and are not a credit decision.