MARCA PROJECT
ActiveSummary
MARCA PROJECT has been active since 1991 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €729,295 and a net result of -€25,863. Equity has been stable since 2019 (±1.9% per year). The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 28-06-1991 Normal situation
- Activity
- No activity registered in the KBO
- Establishment unit
- 2.053.730.025 2070 Beveren-Kruibeke-Zwijndrecht, since 02-08-1991
- Financial year end
- 31 July
- Peppol
- Reachable since 03-03-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.1%
Annual accounts to 31-07-2025
- Gross margin
- €14,265
- ▼ 13.8%
- Turnover
- ≈ €97,000
- estimated
- Loss
- €25,863
- ▼ 13.3%
- Equity
- €729,295
- ▼ 3.4%
- Total assets
- €1.6m
- ▼ 0.9%
Score breakdownraises riskLiquidity: current ratio 0.03, cash €12,778No main activity registeredlowers riskSize: total assets €1.6mFigures for financial year 2025 (filed on 02-03-2026)Show the evidence
Checked score
Score 2025
90
/ 100
Excellent
Probability in this band: under 0.55%
Financially stronger than 26% of micro companies without a NACE code
Financial strength · tick: 2024
Weak
Solvency
70-1
equity 44.9% of total assets
Liquidity
23=
short-term debt 55.1% · cash 0.8%
Profitability
21-4
return on assets -1.6%
Bankruptcy probability within 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
About 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.1%
01-2025: 0.1%● unchanged vs 12-2024
02-2025: 0.2%▲ +0.1 percentage points vs 01-2025
03-2025: 0.2%● unchanged vs 02-2025
04-2025: 0.2%● unchanged vs 03-2025
05-2025: 0.2%● unchanged vs 04-2025
06-2025: 0.2%● unchanged vs 05-2025
07-2025: 0.2%● unchanged vs 06-2025
08-2025: 0.2%● unchanged vs 07-2025
09-2025: 0.2%● unchanged vs 08-2025
10-2025: 0.2%● unchanged vs 09-2025
11-2025: 0.2%● unchanged vs 10-2025
12-2025: 0.2%● unchanged vs 11-2025
01-2026: 0.2%● unchanged vs 12-2025
02-2026: 0.3%▲ +0.1 percentage points vs 01-2026
03-2026: 0.5%▲ +0.2 percentage points vs 02-2026highest value
04-2026: 0.1%▼ -0.4 percentage points vs 03-2026lowest value
05-2026: 0.1%● unchanged vs 04-2026lowest value
06-2026: 0.1%● unchanged vs 05-2026lowest value
07-2026: 0.1%● unchanged vs 06-2026lowest value
08-2026: 0.1%● unchanged vs 07-2026lowest value
09-2026: 0.1%● unchanged vs 08-2026
10-2026: 0.1%● unchanged vs 09-2026
11-2026: 0.1%● unchanged vs 10-2026
Credit of up to €65,000 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.03 (0.02 in 2024), below 1. Short-term debt is 55.1% and cash 0.8% of total assets. 55.1% of the assets are financed with debt and provisions.
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (no NACE code, micro). It does better than 41% of them on solvency, 13% on liquidity, 17% on profitability and 34% on growth.
The bankruptcy probability was computed on 02-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
19202122232425
2019 to 2025 · latest year -€25,863
neutral · Latest accounts filed on time
The financial year that closed on 31-07-2025 was due by 28-02-2026 and was filed on 26-02-2026, 2 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
2 days early
2024
1 day early
2023
on the day
2022
on the day
2021
on the day
2020
2 days early
2019
6 days late
← before the deadline
after the deadline →
tick = median of all Belgian filings
The company filed its last 7 accounts on average on the deadline day. The Belgian median for financial year 2024 was 4 days before the deadline, and 38% of all filings were late.
Searched, nothing found (2)
neutral · Next filing not due yet
The financial year that closed on 31-07-2026 is due by 28-02-2027. Nothing is late today. The company usually files around 28 February (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
31-07-2026 year end03-11-2026 today28-02-2027 deadline
Financials
Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 26-02-2026 PDF all 34 filings
Turnover
≈ €97,000
Estimated: probably between €40,000 and €240,000
Total assets
€1.6m▼ 0.9%
2024 · €1.6m
Net result
-€25,863▲ 13.3%
2024 · -€29,824
Working capital
-€872,573▼ 0.9%
2024 · -€865,188
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
-€10,759
▲ 44.7%
2025
20192025
Net result
-€25,863
▲ 13.3%
2025
20192025
Equity
€729,295
▼ 3.4%
2025
20192025
Total assets
€1.6m
▼ 0.9%
2025
20192025
Debt
€895,889
▲ 1.3%
2025
20192025
Working capital
-€872,573
▼ 0.9%
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result-€0.02m-€393€0.004m▲ 885%-€0.004m-€0.008m▼ 109%-€0.02m▼ 137%-€0.01m▲ 44.7%
Net result-€0.02m--€109▲ 99.5%-€0.007m▼ 6,224%-€0.004m▲ 43.4%-€0.03m▼ 611%-€0.03m▼ 7.5%-€0.03m▲ 13.3%
Equity€0.8m-€0.8m=€0.8m▼ 0.8%€0.8m▼ 0.5%€0.8m▼ 3.4%€0.8m▼ 3.8%€0.7m▼ 3.4%
Total assets€1.0m-€0.9m▼ 1.7%€1.7m▲ 79.5%€1.7m▼ 0.9%€1.7m▼ 1.0%€1.6m▼ 1.5%€1.6m▼ 0.9%
Debt€0.1m-€0.1m▼ 11.6%€0.9m▲ 625%€0.9m▼ 1.3%€0.9m▲ 1.3%€0.9m▲ 0.6%€0.9m▲ 1.3%
Working capital-€0.09m--€0.1m▼ 4.0%-€0.9m▼ 792%-€0.9m▲ 1.2%-€0.9m▼ 1.1%-€0.9m▼ 0.6%-€0.9m▼ 0.9%
The operating result for 2025 is a loss of €10,759, smaller than the loss of €19,439 in 2024.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.6m
Fixed assets
€1.6m ▼ 1.1%
Current assets
€22,714 ▲ 23.9%
Equity and liabilities €1.6m
Equity
€729,295 ▼ 3.4%
Debt
€895,889 ▲ 1.3%
Debt's share of the balance-sheet total rises from 53.9% to 55.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€7,671▼
2024 · €10,102
Cash flow
-€7,433▼
2024 · -€282
Current ratio
0.03▲
2024 · 0.02
Debt to equity
1.23▲
2024 · 1.17
ROE
-3.5%▲
2024 · -3.9%
ROA
-1.6%▲
2024 · -1.8%
Interest coverage
0.52▼
2024 · 0.98
Debt ≤ 1 year
€895,287▲
2024 · €883,523
Income taxes
€278▲
2024 · €93
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 31-07-2022 | 31-07-2023 | 31-07-2024 | 31-07-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €1,644 | - | €5,074 | - |
| Depreciation and write-downs of the year | €21,670 | €21,689 | €29,542 | €18,430 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €17,533 | €18,118 | €8,869 | €21,670 | €21,689 | €29,542 | €18,430 | ▼ 37.6% |
| Other operating charges640/8 | - | - | - | €3,173 | €9,073 | €6,449 | €6,594 | ▲ 2.3% |
| Gross operating margin9900 | €3,999 | €20,914 | €13,976 | €20,921 | €22,557 | €16,551 | €14,265 | ▼ 13.8% |
| Operating profit (loss)9901 | -€17,523 | €393 | €3,872 | -€3,922 | -€8,206 | -€19,439 | -€10,759 | ▲ 44.7% |
| Financial income75/76B | - | - | - | €361 | - | €0 | €27 | ▲ 2,732× |
| Recurring financial income75 | €503 | €563 | €497 | €361 | - | €0 | €27 | ▲ 2,732× |
| Financial charges65/66B | - | - | - | €340 | €19,548 | €10,291 | €14,853 | ▲ 44.3% |
| Recurring financial charges65 | €5,988 | €1,065 | €11,263 | €340 | €19,548 | €10,291 | €14,853 | ▲ 44.3% |
| Profit (loss) for the period before taxes9903 | -€23,009 | -€109 | -€6,893 | -€3,902 | -€27,754 | -€29,730 | -€25,585 | ▲ 13.9% |
| Income taxes67/77 | - | - | - | - | - | €93 | €278 | ▲ 198% |
| Profit (loss) for the period9904 | -€23,009 | -€109 | -€6,893 | -€3,902 | -€27,754 | -€29,824 | -€25,863 | ▲ 13.3% |
| Profit (loss) for the period to be appropriated9905 | -€23,009 | -€109 | -€6,893 | -€3,902 | -€27,754 | -€29,824 | -€25,863 | ▲ 13.3% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €1.0m | €0.9m | €1.7m | €1.7m | €1.7m | €1.6m | €1.6m | ▼ 0.9% |
| Fixed assets21/28 | €0.9m | €0.9m | €1.7m | €1.7m | €1.6m | €1.6m | €1.6m | ▼ 1.1% |
| Tangible fixed assets22/27 | €0.5m | €0.4m | €1.2m | €1.2m | €1.2m | €1.1m | €1.1m | ▼ 1.6% |
| Land and buildings22 | - | - | - | €1.2m | €1.2m | €1.1m | €1.1m | ▼ 1.6% |
| Plant, machinery and equipment23 | - | - | - | - | - | €0.005m | €0.004m | ▼ 21.9% |
| Financial fixed assets28 | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | = |
| Current assets29/58 | €0.01m | €0.01m | €0.009m | €0.01m | €0.02m | €0.02m | €0.02m | ▲ 23.9% |
| Amounts receivable within one year40/41 | €0.004m | €0.005m | €0.005m | €0.006m | - | €114 | €114 | = |
| Trade receivables40 | - | - | - | €406 | - | - | - | - |
| Other amounts receivable41 | - | - | - | €0.006m | - | €114 | €114 | = |
| Cash at bank and in hand54/58 | €0.009m | €0.004m | €0.002m | €0.006m | €0.02m | €0.006m | €0.01m | ▲ 112% |
| Deferred charges and accrued income490/1 | - | - | - | €0.002m | - | €0.01m | €0.01m | ▼ 19.4% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €1.0m | €0.9m | €1.7m | €1.7m | €1.7m | €1.6m | €1.6m | ▼ 0.9% |
| Equity10/15 | €0.8m | €0.8m | €0.8m | €0.8m | €0.8m | €0.8m | €0.7m | ▼ 3.4% |
| Contributions10/11 | €0.4m | - | - | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Revaluation surpluses12 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Reserves13 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Non-distributable reserves130/1 | - | - | - | €0.007m | €0.007m | €0.007m | €0.007m | = |
| Reserves not available under the articles1311 | - | - | - | €0.007m | €0.007m | €0.007m | €0.007m | = |
| Other1319 | - | - | - | €154 | €154 | €154 | €154 | = |
| Distributable reserves133 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Profit (loss) carried forward14 | - | - | - | -€0.004m | -€0.03m | -€0.06m | -€0.09m | ▼ 42.1% |
| Amounts payable17/49 | €0.1m | €0.1m | €0.9m | €0.9m | €0.9m | €0.9m | €0.9m | ▲ 1.3% |
| Amounts payable after more than one year17 | €0.03m | €0.01m | €0.008m | €0.003m | - | - | - | - |
| Financial debts170/4 | - | - | - | €0.003m | - | - | - | - |
| Amounts payable within one year42/48 | €0.1m | €0.1m | €0.9m | €0.9m | €0.9m | €0.9m | €0.9m | ▲ 1.3% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.004m | €0.003m | €0 | - | - |
| Trade debts44 | €0.02m | €0.01m | €0.1m | €0.01m | €0.002m | €0.002m | €0.002m | ▼ 3.8% |
| Suppliers440/4 | - | - | - | €0.01m | €0.002m | €0.002m | €0.002m | ▼ 3.8% |
| Taxes, remuneration and social security45 | - | - | - | - | - | €93 | €271 | ▲ 191% |
| Taxes450/3 | - | - | - | - | - | €93 | €271 | ▲ 191% |
| Other amounts payable47/48 | - | - | - | €0.8m | €0.9m | €0.9m | €0.9m | ▲ 1.3% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €0.001m | €0.001m | ▲ 8.6% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€23,009 | -€109 | -€6,893 | -€3,902 | -€27,754 | -€29,824 | -€25,863 | ▲ 13.3% |
| + Depreciation and write-downs630 | €17,533 | €18,118 | €8,869 | €21,670 | €21,689 | €29,542 | €18,430 | ▼ 37.6% |
| Operating cash flow (approximation) | -€5,476 | €18,009 | €1,976 | €17,768 | -€6,065 | -€282 | -€7,433 | ▼ 2,535% |
| Investment in fixed assets (approximation) | - | -€5,847 | -€762,071 | -€1,644 | €0 | -€5,074 | €0 | - |
| Change in cash | - | -€4,366 | -€2,359 | €3,518 | €13,007 | -€12,552 | €6,744 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 8,617 companies had the same profile as MARCA PROJECT has now. Two years later, 94.1% were still going and 0.4% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a small loss
94.1%
was still going
5.2%
stopped otherwise
0.4%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MARCA PROJECT itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 8,617 companies, not a prediction for MARCA PROJECT. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 34 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-07-2025 | abbreviated format | 26-02-2026 | 2026-00046611 | |
| 31-07-2024 | abbreviated format | 27-02-2025 | 2025-00041051 | |
| 31-07-2023 | abbreviated format | 29-02-2024 | 2024-00037335 | |
| 31-07-2022 | abbreviated format | 28-02-2023 | 2023-00034780 | |
| 31-07-2021 | abbreviated format | 28-02-2022 | 2022-06700297 | |
| 31-07-2020 | abbreviated format | 26-02-2021 | 2021-06300240 | |
| 31-07-2019 | abbreviated format | 06-03-2020 | 2020-06400073 | |
| 31-07-2018 | abbreviated format | 29-01-2019 | 2019-03000157 | |
| 31-07-2017 | abbreviated format | 24-01-2018 | 2018-02300394 | |
| 31-07-2016 | abbreviated format | 14-03-2017 | 2017-06300148 |
Board & ownership
Directors
Directors
1 director, last change in 2023
Amelinckx Marc
Current
Director · appointed in the act of 27-12-2023 · term without a fixed end · listed in the 2025 annual accounts, filed on 26-02-2026
Signing authorityThe articles say who may bind the company, for example by signing a contract.
“Elke bestuurder vertegenwoordigt de vennootschap jegens derden, met inbegrip van de vertegenwoordiging in rechte. Het bestuursorgaan kan…”
deed of 27-12-2023Owners and capital
Owners
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “Bezoldigd, tenzij algemene vergadering bij benoeming anders beslist”
Articles of association, deed of 27-12-2023 (in Dutch)
Network & group
Holdings and subsidiaries
1 holdingHoldings 1
- AMCOsubsidiarySourceown accounts 31-07-2025Equity €1.1m Loss of €21,057 in 2025 (profit of €50,563 in 2024) Checked score 8498.33%
Companies at the same address
1 other companyConnections & network
1 current directorThe network starts from the directors of MARCA PROJECT. Every other company they run is a node.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
26-02
abbreviated format · 2 days before the deadline
2025
27-02
abbreviated format · 1 day before the deadline
2024
31-07
Financial
Weakest financial yearnet -€29,824
The net result drops to -€29,824, the lowest from 2019 to 2025. It recovers the following year.
29-02
abbreviated format · on the deadline day
2023
27-12
Gazette deed
Appointment: Amelinckx Marc (director)Legal form clause · Registered office clause · Amendment of the articles7 points ▸
Gazette deed
Appointment: Amelinckx Marc (director)
Legal form clause · Registered office clause · Amendment of the articles7 points ▸
- General meeting, 20-12-2023
- Legal form clause, 01-01-2020, “besloten vennootschap” (deed in Dutch)
- Registered office clause, “Vlaams Gewest, Neerbroek 56,2070 Zwijndrecht” (deed in Dutch)
- Amendment of the articles, mentioned 2 times in the deed
- Other provision, “statutaire aanpassingen” (deed in Dutch)
- Other provision, 01-01-2020, “WVV-terminologie” (deed in Dutch)
- Director appointment, Amelinckx Marc (director)
28-02
abbreviated format · on the deadline day
2022
28-02
abbreviated format · on the deadline day
2021
26-02
abbreviated format · 2 days before the deadline
2020
06-03
abbreviated format · 6 days late
2019
29-01
abbreviated format · 30 days before the deadline
2018
24-01
abbreviated format · 35 days before the deadline
2017
14-03
abbreviated format · 14 days late
1991
18-07
Gazette deed
Incorporation
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
MARCA PROJECT in Dutch
Enterprise number
0444.525.858
LEI code
5493002WJAE1GC7OKA40
no longer live in the LEI register
Legal form
Private limited company
Status
Active, normale toestand
Founded
28-06-1991
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 27-12-2023 (in Dutch)Name clauseThe company operates under this name according to its articles.
Marca Project
deed of 27-12-2023 (in Dutch)Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Vlaams Gewest”
deed of 27-12-2023 (in Dutch)Registered office and establishments
Registered office
Neerbroek 56, 2070 Beveren-Kruibeke-Zwijndrecht, Belgium
Establishment unit
Neerbroek 56, 2070 Beveren-Kruibeke-Zwijndrecht since 02-08-1991 · unit number 2.053.730.0254100106
Invoicing and payment
VAT number
BE 0444.525.858
Financial year and general meeting
Accounts at the NBBFinancial year end
31-07
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Second Friday of January at 17:00
deed of 27-12-2023 (in Dutch)Sites & property
Location
Buildings and parcels at the address
Ground area
888 m²
Building footprint
150 m²
Building volume
937 m³
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 11056B0941/00G000 | Flanders | 888 m² | 1 · 150 m² | 8.9 m · 2 |