Active BE 0833.927.311Private limited company

MARCABEL

Drevendaal 40 ·2860 Sint-Katelijne-Waver, Belgium· 15 yrs active

Sector: Business and other management consultancy (70200)

Conclusion Checked

MARCABEL has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.45M and a net result of €638k. Equity is growing by ~13.2% per year across the filed fiscal years. Its solvency ranks better than 91% of 516 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).

Based on the State Gazette, CBE and 3 annual accounts.

Key figures

Equity	€3.45M
Net result	€638k
Better than sector	91%
Active	15 yrs

Financial profile 5 of 5 axes measured · computed by Checked

93 / 100

Exceptional profile, strong across almost every axis.

All 5 axes are computed from data Checked has read.

Health 93

Profitability 92

Solvency 100

Growth 78

Stability 100

Bankruptcy probability (12 mo) Checked model v1 · free

0.1% Very low

0%0,5%1,5%4%10%≥25%

How do we compute this?

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 2 signals

Established

Founded in 2011, 15 years in business.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags0 events

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Checked score FY 2025 · computed

93 / 100 Excellent

050100

Computed from 4 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Indicative credit limit

€320k

estimate, not credit advice

Score history

85 2023

93 2024

93 2025

purely financial, excl. current insolvency signals

Score components

Liquidity Current ratio 4.48 (≥ 1.5) +10

Quick ratio Quick ratio 4.48 (≥ 1.0) +5

Leverage Debt/equity 0.09 (< 1.0) +10

Profitability ROE 18% (≥ 10%) +10

Profit trend Net profit up YoY +5

Equity growth Equity growing YoY +3

Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.

Financial overview13 NBB filings

Annual accounts filed on 18-09-2025 with the NBB · fiscal year 2025 · abbreviated schema

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

growing Equity: growth of ~13.2%/year over 3 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2025 · NACE 70, Activities of head offices; management consultancy activities · compared within the same schema type (abbreviated schema)

Metric	This company	Sector median	Position in the sector
Solvency	91.5%	46.0%	better than 91% of 516 sector peers
Net result	€638k	€55k	better than 92% of 516 sector peers
Equity	€3.45M	€216k	better than 92% of 516 sector peers
Gross operating margin	€143k	€98k	better than 61% of 516 sector peers
Total assets	€3.77M	€811k	better than 86% of 516 sector peers

Net profit

€638k

+31.4% 23-25

Total assets

€3.77M

+19.4% 23-25

Equity

€3.45M

+18.5% 23-25

Working capital

€1.12M

+92.3% 23-25

Income taxes

€95k

+29.8% 23-25

Dividends

€100k

-60.8% 23-25

Debt

€322k

+30.8% 23-25

Debt ≤ 1y

€322k

+30.8% 23-25

Current ratio

4.48

+33.0% 23-25

Quick ratio

4.48

+33.0% 23-25

Solvency

91.5%

-0.8% 23-25

Debt / equity

0.09

+10.4% 23-25

ROE

18.5%

+10.9% 23-25

ROA

16.9%

+10.0% 23-25

Figures by fiscal year and ratios

Highlight YoY changes (±10%)

Fiscal year	2025	2024	2023
Deposit	abbreviated schema	abbreviated schema	abbreviated schema
Revenue	-	-	-
EBITDA	-	-	-
Net profit	€638k	€486k	€309k
Cash flow	-	-	-
Staff costs	-	-	-
Income taxes	€95k	€73k	€57k
Dividends	€100k	€255k	-
Total assets	€3.77M	€3.16M	€2.71M
Equity	€3.45M	€2.91M	€2.68M
Debt	€322k	€246k	€32k
of which ≤ 1y	€322k	€246k	€32k
of which > 1y	-	-	-
Working capital	€1.12M	€583k	€353k
Employees (FTE)	-	-	-

Ratios (computed)

	2025	2024	2023
Current ratio	4.48	3.37	11.95
Quick ratio	4.48	3.37	11.95
Working capital ratio	29.7%	18.5%	13.0%
Solvency	91.5%	92.2%	98.8%
Debt / equity	0.09	0.08	0.01
Long-term debt ratio	-	-	-
Interest coverage	-	-	-
Gross margin	-	-	-
Net margin	-	-	-
ROA	16.9%	15.4%	11.4%
ROE	18.5%	16.7%	11.5%
EBITDA margin	-	-	-
Days sales outstanding	-	-	-
Days payable outstanding	-	-	-
Inventory turnover	-	-	-
Days inventory (DSI)	-	-	-

Balance-sheet composition 2025

Assets

Fixed assets €2.33M · 61.7% Current assets €1.44M · 38.3%

Equity & liabilities

Equity €3.45M · 91.5% Debt €322k · 8.5%

Full annual accounts (21 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025	2024	2023
Balance sheet, Assets
TOTAL ASSETS	20/58	€3.77M	€3.16M	€2.71M
Fixed assets	21/28	€2.33M	€2.33M	€2.33M
Financial fixed assets	28	€2.33M	€2.33M	€2.33M
Current assets	29/58	€1.44M	€829k	€385k
Investments	50/53	€0	€220k	-
Cash & bank	54/58	€1.44M	€609k	€385k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€3.77M	€3.16M	€2.71M
Equity	10/15	€3.45M	€2.91M	€2.68M
Contributions / capital	10/11	€767k	€767k	€767k
Reserves	13	€2.68M	€2.14M	€1.91M
Accumulated profits (losses)	14	€0	-	-
Amounts payable	17/49	€322k	€246k	€32k
Amounts payable within one year	42/48	€322k	€246k	€32k
Income statement
Gross operating margin	9900	€143k	€117k	€119k
Operating result	9901	€142k	€117k	€69k
Financial income	75	€609k	€447k	€298k
Financial charges	65	€19k	€6k	€107
Result before taxes	9903	€733k	€559k	€367k
Income taxes	67/77	€95k	€73k	€57k
Net result for the period	9904	€638k	€486k	€309k
Result to be appropriated	9905	€638k	€486k	€309k

Legal Structure

NACE primary	Business and other management consultancy(70200)
Legal form	Private limited company(610)
Incorporation	17-02-2011
Status	Active
Postal code	2860

Ownership & control 1 parties

MARCABELBE 0833.927.311

controls

Where this company holds controlthis company sits on their board1

Belloy Elektrotechniek

1 location

Establishment units 1 location

Marcabel

Drevendaal 40, 2860 Sint-Katelijne-WaverBusiness consulting

since 20112.197.093.055

Real-estate footprint Source: CBE × cadastre

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
12422D0244/00A002	Flanders	2,904 m²	1 · 1,323 m²	7.6 m · 2 fl.

Methodology

via registered seat: 1

1 of 1 parcel with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Updates 11 events

All 12Financial 1Gazette 1Filings 10

Next filing, fiscal year 2026, expected by 31-10-2026

2025

18-09

NBB filing Annual accounts filed

fiscal year 2025 · abbreviated schema

31-03

Financial Highest result since 2023net €638k ▲31.4%

Operating result €142k, net result €638k, both a record.

2024

19-09

NBB filing Annual accounts filed

fiscal year 2024 · abbreviated schema

2023

18-10

NBB filing Annual accounts filed

fiscal year 2023 · abbreviated schema

25-04

State Gazette act Capital & shares

Karen Pinoy

2022

25-10

NBB filing Annual accounts filed

fiscal year 2022 · abbreviated schema

2021

30-09

NBB filing Annual accounts filed

fiscal year 2021 · abbreviated schema

2020

08-09

NBB filing Annual accounts filed

fiscal year 2020 · abbreviated schema

2019

06-09

NBB filing Annual accounts filed

fiscal year 2019 · micro schema

2018

24-10

NBB filing Annual accounts filed

fiscal year 2018 · abbreviated schema

2017

09-03

NBB filing Annual accounts filed

fiscal year 2016 · abbreviated schema

2016

30-03

NBB filing Annual accounts filed

fiscal year 2015 · abbreviated schema

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Belgian State Gazette reading coverage 0 of 6 acts read

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.

Belgisch Staatsblad, acts 1 acts

Capital history · 1

25-04-2023

Capital change

All acts · 1 updated 3 years ago

2023

25-04-2023 All shares are now held by a single shareholder Capital & shares·Karen Pinoy

Notary: Karen Pinoy · PutteFirm: Van de Poel & Pinoy

Original publication ↗

Technical details

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    },
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      "kind": "statutory_reserve_release",
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    },
    {
      "kind": "share_buyback",
      "after_eur": null,
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      "decrease_purpose": null,
      "contribution_type": "inkoop_eigen_aandelen",
      "paid_up_delta_eur": null,
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      "kind": "share_buyback",
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    },
    {
      "kind": "share_class_creation",
      "after_eur": null,
      "delta_eur": null,
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      "share_emission": {
        "agio_eur": null,
        "share_form": "no_nominal_value",
        "share_class": null,
        "n_new_shares": 246,
        "with_new_shares": true,
        "nominal_value_eur": null,
        "issue_price_per_share_eur": null
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      "decrease_purpose": null,
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      "statutory_unavailable_equity_op": null
    }
  ],
  "notary": {
    "name": "Karen Pinoy",
    "firm_city": null,
    "firm_name": "Van de Poel \u0026 Pinoy",
    "office_city": "Putte",
    "is_associated": true
  },
  "act_meta": {
    "language": "nl",
    "pub_date": "2023-04-25",
    "filing_date": "2023-04-21",
    "act_kind_objet": "Onderwerp akte:"
  },
  "decision": {
    "body": "buitengewone_algemene_vergadering",
    "act_date": "2023-03-22",
    "unanimous": null,
    "under_authorized_capital": true,
    "underlying_resolution_date": null
  },
  "bedrijfsrevisor": null,
  "subject_company": {
    "kbo": "0833.927.311",
    "name_full": "MARCABEL",
    "legal_form": "Besloten vennootschap met beperkte aansprakelijkheid",
    "is_foreign_registered": false
  },
  "publication_proxy": {
    "kind": "none",
    "org_kbo": null,
    "org_name": null,
    "person_name": null,
    "org_rep_person_name": null,
    "person_role_at_subject": null
  },
  "co_filed_documents": [
    "expedition",
    "co\u00F6rdinatie van de statuten",
    "clausule inzake vertegenwoordigingsbevoegdheid"
  ],
  "shareholders_after": [
    {
      "kbo": null,
      "pct": null,
      "kind": "person",
      "name": "Edward Belloy",
      "role": "statutaire bestuurder",
      "n_shares": 246,
      "share_class": null
    }
  ],
  "share_classes_after": [
    {
      "n_shares": 246,
      "class_name": "Aandelen",
      "capital_share_eur": null,
      "voting_rights_per_share": 1.0
    }
  ]
}

Credit advice verdict per customer and amount

Company registry (CBE) Crossroads Bank

Activities

Business and other management consultancy70200Business consulting70220

Names & trade names

Legal nameNL

MARCABEL

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