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MARC35

Active
Public limited companyfounded 20197 yrs activeRue Léon-Frédéricq 48, 4020 Liège, BelgiumKBO/BCE: BE 0724.642.953
Summary

MARC35 has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €4.2m and a net result of -€70,828. Equity is growing by ~25% per year across the filed fiscal years. Its solvency ranks better than 52% of 4814 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.6% (low).

Checked score

Score 2024
Axes · tick = 2023
Profitability36▼-1
Solvency59▲+10
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.6% Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €220,000 at 30 days acceptable
Liquidity short (current ratio 0.02 against 0.01 in 2023; short-term debt: 66.3% and cash: 0.1% of total assets), and 66.3% of the assets are financed with debt.
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Signals

Six signals. The signal on the left, the evidence on the right.
−lowers risk+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 date
Age against the risk zone
highest failure risk from 2 to 8 years 7 years 0 10 y
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies more bankruptcies →
lowers risk · Lower-risk legal form
Companies with this legal form statistically fail less often than a BV.
KBO · legal form
raises risk · Higher-failure-rate region
In this region companies fail more often than in the rest of the country.
KBO · registered office
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 2024
Solvency, return and age of the figures
Solvency
33.7%
Return on assets
-0.6%
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 28-08-2025, 28 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 · 6 filings
Deviation from the deadline
2025
not confirmed
2024
28 d late
2023
58 d late
2022
61 d late
2021
129 d late
2020
31 d late
2019
143 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 75 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.

Checked, nothing found (1)
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 8 April 2019, MARC35 was incorporated.1 Total assets went from EUR 11 million in 2019 to EUR 13 million in 2024.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2019 and 2024

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Financials · fiscal year 2024, full schema

Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€70,828▼ 330%
2023 · -€16,468
Working capital
-€8.1m▼ 0.2%
2023 · -€8.1m
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-€10,197▲ 63.5%-€47,982▼ 371%-€48,144▼ 0.3%-€16,421▲ 65.9%-€70,777▼ 331%
Net result-€10,245▲ 64.0%-€48,028▼ 369%-€48,192▼ 0.3%-€16,468▲ 65.8%-€70,828▼ 330%
Equity€1.2m▼ 0.8%€1.7m▲ 41.4%€2.0m▲ 17.6%€2.6m▲ 29.5%€4.2m▲ 62.5%
Total assets€9.1m▼ 14.8%€9.7m▲ 7.2%€10.2m▲ 5.4%€10.8m▲ 5.4%€12.6m▲ 16.7%
Debt€7.8m▼ 16.6%€8.0m▲ 1.9%€8.2m▲ 2.7%€8.2m▼ 0.5%€8.3m▲ 2.0%
Working capital-€7.5m▼ 0.7%-€7.8m▼ 4.1%-€8.1m▼ 4.0%-€8.1m▼ 0.4%-€8.1m▼ 0.2%
Staff (FTE)000
Result per fiscal year
Operating resultNet result
-€80,000-€60,000-€40,000-€20,000€0Operating result 2020: -€10,197-€10,197Net result 2020: -€10,245-€10,245Operating result 2021: -€47,982-€47,982Net result 2021: -€48,028-€48,028Operating result 2022: -€48,144-€48,144Net result 2022: -€48,192-€48,192Operating result 2023: -€16,421-€16,421Net result 2023: -€16,468-€16,468Operating result 2024: -€70,777-€70,777Net result 2024: -€70,828-€70,82820202021202220232024-€80,000-€60,000-€40,000-€20,000€0Operating result 2022: -€48,144-€48,100Net result 2022: -€48,192-€48,200Operating result 2023: -€16,421-€16,400Net result 2023: -€16,468-€16,500Operating result 2024: -€70,777-€70,800Net result 2024: -€70,828-€70,800202220232024
The operating result stays negative: a loss of €70,777 in 2024 against €16,421 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 €12.6m
Fixed assets €12.4m ▲ 15.3%
Current assets €198,094 ▲ 339%
Equity and liabilities €12.6m
Equity €4.2m ▲ 62.5%
Debt €8.3m ▲ 2.0%
Debt's share of the balance-sheet total falls from 75.8% to 66.3%. Equity and debt are higher.
Key figures and ratios
2024 value · change against 2023
Current ratio
0.02▲
2023 · 0.01
Debt to equity
1.97▼
2023 · 3.13
ROE
-1.7%▼
2023 · -0.6%
ROA
-0.6%▼
2023 · -0.2%
Debt ≤ 1 year
€8.3m▲
2023 · €8.2m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 119 companies that looked in July 2024 the way this one looks now, 0% went bankrupt within 24 months and 95% are still going.

  • Medium-sized
  • 5 to 10 years old
  • solvency 30% or more
  • a small loss
0% went bankrupt
4.2% stopped otherwise
95% still going

A further 0.8% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a higher bankruptcy probability: 0.6% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.

How reliable is this rule?

Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.

The companies in ten equal groups, from lowest to highest expected share.
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% 1.6%
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 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 119 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 · 34 lines
Balance sheet Code20232024
Assets
Total assets20/58€10.8m€12.6m▲
Fixed assets21/28€10.7m€12.4m▲
Tangible fixed assets22/27€10.7m€12.4m▲
Assets under construction and advance payments27€10.7m€12.4m▲
Financial fixed assets28€1,450€1,450=
Current assets29/58€45,111€198,094▲
Amounts receivable within one year40/41€36,807€189,005▲
Trade receivables40€29,373€170,471▲
Other amounts receivable41€7,434€18,534▲
Cash at bank and in hand54/58€3,580€9,089▲
Deferred charges and accrued income490/1€4,725€0▼
Equity and liabilities
Total equity and liabilities10/49€10.8m€12.6m▲
Equity10/15€2.6m€4.2m▲
Contributions10/11€2.8m€4.5m▲
Capital10€2.8m€4.5m▲
Issued capital100€5.0m€5.0m=
Uncalled capital101€2.2m€540,000▼
Profit (loss) carried forward14-€151,417-€222,245▼
Amounts payable17/49€8.2m€8.3m▲
Amounts payable within one year42/48€8.2m€8.3m▲
Trade debts44€96,147€247,412▲
Suppliers440/4€96,147€247,412▲
Other amounts payable47/48€8.1m€8.1m▲
Income statement Code20232024
Other operating charges640/8€1,528€1,948▲
Gross operating margin9900-€14,893-€68,829▼
Operating profit (loss)9901-€16,421-€70,777▼
Financial charges65/66B€47€51▲
Recurring financial charges65€47€51▲
Profit (loss) for the period before taxes9903-€16,468-€70,828▼
Profit (loss) for the period9904-€16,468-€70,828▼
Profit (loss) for the period to be appropriated9905-€16,468-€70,828▼
Appropriation of the result
Profit (loss) to be appropriated9906-€151,417-€222,245▼
Profit (loss) brought forward from the previous period14P-€134,950-€151,417▼
Social balance
Average headcount (FTE)90870.00.0=

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

Line20202021202220232024Change
Non-recurring operating income76A-€99,226€0---
Other operating charges640/8-€1,308€3,079€1,528€1,948▲ 27.5%
Non-recurring operating charges66A-€99,226€0---
Gross operating margin9900-€10,197€52,552-€45,065-€14,893-€68,829▼ 362%
Operating profit (loss)9901-€10,197-€47,982-€48,144-€16,421-€70,777▼ 331%
Financial income75/76B-€108€0---
Recurring financial income75-€108€0---
Financial charges65/66B-€154€48€47€51▲ 8.8%
Recurring financial charges65€48€154€48€47€51▲ 8.8%
Profit (loss) for the period before taxes9903-€10,245-€48,028-€48,192-€16,468-€70,828▼ 330%
Profit (loss) for the period9904-€10,245-€48,028-€48,192-€16,468-€70,828▼ 330%
Profit (loss) for the period to be appropriated9905-€10,245-€48,028-€48,192-€16,468-€70,828▼ 330%
Line20202021202220232024Change
Assets
Total assets20/58€9.1m€9.7m€10.2m€10.8m€12.6m▲ 16.7%
Fixed assets21/28€8.7m€9.5m€10.1m€10.7m€12.4m▲ 15.3%
Tangible fixed assets22/27€8.7m€9.5m€10.1m€10.7m€12.4m▲ 15.3%
Assets under construction and advance payments27-€9.5m€10.1m€10.7m€12.4m▲ 15.3%
Financial fixed assets28-€1,450€1,450€1,450€1,450=
Current assets29/58€359,945€204,767€116,473€45,111€198,094▲ 339%
Amounts receivable within one year40/41€20,921€53,610€70,252€36,807€189,005▲ 414%
Trade receivables40-€29,408€48,667€29,373€170,471▲ 480%
Other amounts receivable41-€24,202€21,585€7,434€18,534▲ 149%
Cash at bank and in hand54/58€339,024€46,444€45,950€3,580€9,089▲ 154%
Deferred charges and accrued income490/1-€104,713€271€4,725€0▼ 100%
Equity and liabilities
Total equity and liabilities10/49€9.1m€9.7m€10.2m€10.8m€12.6m▲ 16.7%
Equity10/15€1.2m€1.7m€2.0m€2.6m€4.2m▲ 62.5%
Contributions10/11€1.3m€1.8m€2.2m€2.8m€4.5m▲ 61.6%
Capital10-€1.8m€2.2m€2.8m€4.5m▲ 61.6%
Issued capital100-€5.0m€5.0m€5.0m€5.0m=
Uncalled capital101-€3.2m€2.9m€2.2m€540,000▼ 75.9%
Profit (loss) carried forward14-€38,729-€86,757-€134,950-€151,417-€222,245▼ 46.8%
Amounts payable17/49€7.8m€8.0m€8.2m€8.2m€8.3m▲ 2.0%
Amounts payable within one year42/48€7.8m€8.0m€8.2m€8.2m€8.3m▲ 2.0%
Trade debts44€17,263€171,713€135,283€96,147€247,412▲ 157%
Suppliers440/4-€171,713€135,283€96,147€247,412▲ 157%
Other amounts payable47/48-€7.8m€8.1m€8.1m€8.1m▲ 0.2%
Line20202021202220232024Change
Profit (loss) for the period9904-€10,245-€48,028-€48,192-€16,468-€70,828▼ 330%
Operating cash flow (approximation)-€10,245-€48,028-€48,192-€16,468-€70,828▼ 330%
Investment in fixed assets (approximation)--€805,597-€609,412-€623,839-€1.6m▼ 163%
Change in cash--€292,580-€494-€42,370€5,509▲ 113%

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

2025
28-08
NBB filing Annual accounts filed
fiscal year 2024 · full schema · 28 days late
2024
31-12
Financial Weakest financial yearnet -€70,828
Net result drops to -€70,828, the lowest in the series.
27-09
NBB filing Annual accounts filed
fiscal year 2023 · full schema · 58 days late
2023
30-09
NBB filing Annual accounts filed
fiscal year 2022 · full schema · 61 days late
2022
31-12
Financial Equity above €2mEq €2.0m ▲17.6%
Equity rises from €1.7m to €2.0m.
07-12
NBB filing Annual accounts filed
fiscal year 2021 · full schema · 129 days late
2021
31-08
NBB filing Annual accounts filed
fiscal year 2020 · full schema · 31 days late
2020
21-12
NBB filing Annual accounts filed
fiscal year 2019 · full schema · 143 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts

We know of 5 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
5 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, Liège · 1 establishment unit since 2019
seat establishment The establishment unit on the map
Ground area
632 m²
Building footprint
183 m²
Volume, LiDAR
4,251 m³
Parcel 62817C0231/00A002, Wallonia · tallest building 26.5 m, ±8 floors. Linked by address, not a title deed.
11 companies at this address See who is registered here
1 establishment unit
MARC35
Rue Léon-Frédéricq 48, 4020 LiègeRenting and operating of own or leased residential real estate, excluding social housing
since 20192.288.833.774
1 parcel
Wallonia 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
62817C0231/00A002 Wallonia 632 m² 1 · 183 m² 26.5 m · 8 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

Part of the group BELINVEST 10 companies Group, risk and exposure

Owners and holdings

1 owner

Chain of control

  1. BELINVEST 99.99%
  2. MARC35

Highest known parent: BELINVEST. The sources do not say who stands above it.

Owners 1

Holdings 0

No holding stated in the accounts, acts or LEI register we read.

According to the annual accounts 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.

Similar companies · same sector, comparable size

Of 9,146 companies in sector 68201 we hold annual accounts for 6,770. 3,381 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector

Identification & contact

Identification
Legal formPublic limited company
Founded08-04-2019
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
68203Renting and operating of own or leased non-residential real estate, excluding land
82200Office administrative, office support and other business support activities
E-invoicing
Reachable via Peppol
Peppol ID 0208:0724642953
Registered 17-06-2025

Register as of 27 September 2026 · Peppol Directory

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