MARBO
ActiveSummary
MARBO has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show negative equity (-€51,099) and a net result of €10,534. Equity is shrinking by ~11.8% per year across the filed fiscal years. Its solvency ranks better than 9% of 9973 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability72▲+34
Solvency13▲+13
Growth32=
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity tight (current ratio 1.12 against 1.26 in 2023; short-term debt: 85% and cash: 3% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% 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
-12.4%
Return on assets
2.6%
Age of the figures
21 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 · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 9% of 9973 sector peers (2024).
NBB · sector comparisonPosition among 9973 sector peers
Solvency
better than 9%
← weakest
strongest →
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 29-06-2026, 32 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
32 d early
2024
1 d late
2023
26 d early
2022
45 d early
2021
32 d early
2020
50 d early
2019
31 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 31 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed 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 29 June (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2024, micro schema
Equity
-€51,099▲ 17.1%
2023 · -€61,633
Total assets
€412,744▲ 127%
2023 · €182,173
Net result
€10,534
2023 · -€384
Working capital
€42,890▲ 14.1%
2023 · €37,599
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, 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€18,508€22,648▲ 22.4%-€11,513-€243▲ 97.9%€12,216
Net result€17,831within the sector's middle half-€14,342below the sector's middle half-€11,674below the sector's middle half▲ 18.6%-€384within the sector's middle half▲ 96.7%€10,534within the sector's middle half
Equity-€35,232below the sector's middle half▲ 33.6%-€49,575below the sector's middle half▼ 40.7%-€61,249below the sector's middle half▼ 23.5%-€61,633below the sector's middle half▼ 0.6%-€51,099below the sector's middle half▲ 17.1%
Total assets€351,466above the sector's middle half▼ 34.2%€189,250within the sector's middle half▼ 46.2%€87,339within the sector's middle half▼ 53.9%€182,173within the sector's middle half▲ 109%€412,744above the sector's middle half▲ 127%
Debt€386,698▼ 34.2%€238,825▼ 38.2%€148,588▼ 37.8%€243,806▲ 64.1%€463,843▲ 90.3%
Working capital€58,083within the sector's middle half▲ 62.8%€48,516within the sector's middle half▼ 16.5%€37,412within the sector's middle half▼ 22.9%€37,599within the sector's middle half▲ 0.5%€42,890within the sector's middle half▲ 14.1%
Solvency-10.0%below the sector's middle half▼ 0.1pp-26.2%below the sector's middle half▼ 16.2pp-70.1%below the sector's middle half▼ 43.9pp-33.8%below the sector's middle half▲ 36.3pp-12.4%below the sector's middle half▲ 21.5pp
Current ratio1.20within the sector's middle half▲ 0.131.35within the sector's middle half▲ 0.151.77within the sector's middle half▲ 0.421.26within the sector's middle half▼ 0.511.12within the sector's middle half▼ 0.14
Return on assets (ROA)5.1%within the sector's middle half▲ 17.5pp-7.6%below the sector's middle half▼ 12.7pp-13.4%below the sector's middle half▼ 5.8pp-0.2%within the sector's middle half▲ 13.2pp2.6%within the sector's middle half▲ 2.8pp
above
within
below
the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, 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 returns to profit in 2024: €12,216 after a loss of €243 in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €412,744
Fixed assets
€18,957 ▲ 2,369%
Current assets
€393,787 ▲ 117%
Key figures and ratios
EBITDA
€17,017▲
2023 · €328
Cash flow
€15,335▲
2023 · €187
Quick ratio
0.04▼
2023 · 0.12
Debt to equity
-9.08▼
2023 · -3.96
Interest coverage
10.09▲
2023 · 2.33
Debt ≤ 1 year
€350,897▲
2023 · €143,806
Debt > 1 year
€112,946▲
2023 · €100,000
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,379 companies that looked in July 2024 the way this one looks now, 2.4% went bankrupt within 24 months and 94% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a profit under 5% of the balance sheet
2.4%
went bankrupt
3.2%
stopped otherwise
94%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.1% 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 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.9% |
| 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 1,379 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €6,800 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,538 | €7,024 | €571 | €571 | €4,801 | ▲ 741% |
| Other operating charges640/8 | - | €160 | €168 | €150 | €134 | ▼ 10.6% |
| Gross operating margin9900 | €26,258 | €29,832 | -€10,774 | €478 | €17,151 | ▲ 3,490% |
| Operating profit (loss)9901 | €18,508 | €22,648 | -€11,513 | -€243 | €12,216 | ▲ 5,130% |
| Financial income75/76B | - | €27 | - | - | €5 | - |
| Recurring financial income75 | - | €27 | - | - | €5 | - |
| Financial charges65/66B | - | €37,018 | €161 | €141 | €1,687 | ▲ 1,097% |
| Recurring financial charges65 | €677 | €482 | €161 | €141 | €1,687 | ▲ 1,097% |
| Non-recurring financial charges66B | - | €36,536 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €17,831 | -€14,342 | -€11,674 | -€384 | €10,534 | ▲ 2,844% |
| Profit (loss) for the period9904 | €17,831 | -€14,342 | -€11,674 | -€384 | €10,534 | ▲ 2,844% |
| Profit (loss) for the period to be appropriated9905 | €17,831 | -€14,342 | -€11,674 | -€384 | €10,534 | ▲ 2,844% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €351,466 | €189,250 | €87,339 | €182,173 | €412,744 | ▲ 127% |
| Fixed assets21/28 | €6,685 | €1,909 | €1,338 | €768 | €18,957 | ▲ 2,369% |
| Tangible fixed assets22/27 | €6,685 | €1,909 | €1,338 | €768 | €18,957 | ▲ 2,369% |
| Plant, machinery and equipment23 | - | €1,909 | €1,338 | €768 | €477 | ▼ 37.9% |
| Furniture and vehicles24 | - | - | - | - | €18,480 | - |
| Current assets29/58 | €344,781 | €187,341 | €86,000 | €181,406 | €393,787 | ▲ 117% |
| Stocks and contracts in progress3 | €328,263 | - | - | €163,988 | €379,474 | ▲ 131% |
| Contracts in progress37 | - | - | - | €163,988 | €379,474 | ▲ 131% |
| Amounts receivable within one year40/41 | €4,458 | €42,882 | €63,176 | €6,149 | €1,043 | ▼ 83.0% |
| Trade receivables40 | - | €42,882 | €63,176 | - | - | - |
| Other amounts receivable41 | - | - | - | €6,149 | €1,043 | ▼ 83.0% |
| Cash at bank and in hand54/58 | €4,373 | €144,379 | €22,026 | €11,148 | €12,220 | ▲ 9.6% |
| Deferred charges and accrued income490/1 | - | €80 | €797 | €121 | €1,050 | ▲ 765% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €351,466 | €189,250 | €87,339 | €182,173 | €412,744 | ▲ 127% |
| Equity10/15 | -€35,232 | -€49,575 | -€61,249 | -€61,633 | -€51,099 | ▲ 17.1% |
| Contributions10/11 | - | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €13,043 | €13,043 | €13,043 | €13,043 | €13,043 | = |
| Non-distributable reserves130/1 | - | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Reserves not available under the articles1311 | - | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Distributable reserves133 | - | €11,043 | €11,043 | €11,043 | €11,043 | = |
| Profit (loss) carried forward14 | -€68,276 | -€82,618 | -€94,292 | -€94,676 | -€84,143 | ▲ 11.1% |
| Amounts payable17/49 | €386,698 | €238,825 | €148,588 | €243,806 | €463,843 | ▲ 90.3% |
| Amounts payable after more than one year17 | €100,000 | €100,000 | €100,000 | €100,000 | €112,946 | ▲ 12.9% |
| Financial debts170/4 | - | €100,000 | €100,000 | €100,000 | €112,946 | ▲ 12.9% |
| Amounts payable within one year42/48 | €286,698 | €138,825 | €48,588 | €143,806 | €350,897 | ▲ 144% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €165,577 | - |
| Trade debts44 | €11,295 | €3,602 | €1,334 | €17,601 | €2,650 | ▼ 84.9% |
| Suppliers440/4 | - | €3,602 | €1,334 | €17,601 | €2,650 | ▼ 84.9% |
| Taxes, remuneration and social security45 | - | €6,818 | €10,581 | €2,100 | €2,150 | ▲ 2.4% |
| Taxes450/3 | - | €6,818 | €10,581 | €2,100 | €2,150 | ▲ 2.4% |
| Other amounts payable47/48 | - | €128,405 | €36,673 | €124,105 | €180,520 | ▲ 45.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €17,831 | -€14,342 | -€11,674 | -€384 | €10,534 | ▲ 2,844% |
| + Depreciation and write-downs630 | €7,538 | €7,024 | €571 | €571 | €4,801 | ▲ 741% |
| Operating cash flow (approximation) | €25,369 | -€7,318 | -€11,104 | €187 | €15,335 | ▲ 8,108% |
| Investment in fixed assets (approximation) | - | -€2,248 | €0 | €0 | -€22,990 | - |
| Change in cash | - | €140,006 | -€122,353 | -€10,879 | €1,072 | ▲ 110% |
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
29-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
01-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 1 day late
2024
31-12
Financial
Back to profitnet €10,534
Net result €10,534 after 3 loss-making years.
05-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
16-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
29-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
11-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Back to profitnet €17,831
Net result €17,831 after one loss-making year.
30-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Weakest financial yearnet -€66,577
Net result drops to -€66,577, the lowest in the series; recovery starts the following year.
20-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 20 days late
2018
23-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 23 days late
2017
20-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 51 days late
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, Haacht · 1 establishment unit since 2011
Ground area
340 m²
Building footprint
210 m²
Volume, LiDAR
1,013 m³
Parcel 24033D0119/00E000, Flanders · tallest building 8.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MARBO
since 20112.198.503.812
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24033D0119/00E000 | Flanders | 340 m² | 1 · 210 m² | 8.9 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 29,785 companies in sector 41001 we hold annual accounts for 16,058. 10,366 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
Founded04-01-2011
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
41002Construction of residential and non-residential buildings
43990Other specialised construction activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0832506656
Registered
22-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.