MARCASA
ActiveSummary
MARCASA has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €719k and a net result of €-39k. Equity is growing by ~2.6% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability12▼-55
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €40k at 30 days acceptable
Liquidity short (current ratio 0.2 against 1.29 in 2024; short-term debt: 3.4% and cash: 0.4% of total assets), and 3.6% 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 · 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 · 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 €-39k
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 30-01-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
on the day
2023
on the day
2022
on the day
2021
on the day
2020
55 d early
2019
45 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 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close25-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€719k▼ 5.2%
2024 · €758k
2019: €632klowest in 7 years
2020: €661k▲ +4.5% vs 2019
2021: €729k▲ +10.4% vs 2020
2022: €763k▲ +4.6% vs 2021
2023: €767k▲ +0.5% vs 2022highest in 7 years
2024: €758k▼ -1.1% vs 2023
2025: €719k▼ -5.2% vs 2024
2019 → 2025
Total assets
€746k▼ 2.2%
2024 · €763k
2019: €911k
2020: €888k▼ -2.5% vs 2019
2021: €942k▲ +6.1% vs 2020highest in 7 years
2022: €826k▼ -12.3% vs 2021
2023: €801k▼ -3.1% vs 2022
2024: €763k▼ -4.8% vs 2023
2025: €746k▼ -2.2% vs 2024lowest in 7 years
2019 → 2025
Net result
€-39k▼ 352%
2024 · €-9k
2019: €38k
2020: €41k▲ +8.0% vs 2019
2021: €69k▲ +65.7% vs 2020highest in 7 years
2022: €33k▼ -51.4% vs 2021
2023: €4k▼ -88.7% vs 2022
2024: €-9k▼ -329% vs 2023
2025: €-39k▼ -352% vs 2024lowest in 7 years
2019 → 2025
Working capital
€-20k
2024 · €1k
2019: €-11k
2020: €-219▲ +98.0% vs 2019
2021: €51k▲ +23472% vs 2020highest in 7 years
2022: €-13k▼ -125% vs 2021
2023: €-6k▲ +52.8% vs 2022
2024: €1k▲ +123% vs 2023
2025: €-20k▼ -1594% vs 2024lowest in 7 years
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€729k-€763k▲ 4.6%€767k▲ 0.5%€758k▼ 1.1%€719k▼ 5.2%
2021: €729k
2022: €763k▲ +4.6% vs 2021
2023: €767k▲ +0.5% vs 2022highest in 5 years
2024: €758k▼ -1.1% vs 2023
2025: €719k▼ -5.2% vs 2024lowest in 5 years
Operating result€97k-€48k▼ 50.4%€5k▼ 89.2%€-9k€-39k▼ 353%
2021: €97khighest in 5 years
2022: €48k▼ -50.4% vs 2021
2023: €5k▼ -89.2% vs 2022
2024: €-9k▼ -266% vs 2023
2025: €-39k▼ -353% vs 2024lowest in 5 years
Net result€69k-€33k▼ 51.4%€4k▼ 88.7%€-9k€-39k▼ 352%
2021: €69khighest in 5 years
2022: €33k▼ -51.4% vs 2021
2023: €4k▼ -88.7% vs 2022
2024: €-9k▼ -329% vs 2023
2025: €-39k▼ -352% 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 stays negative: a loss of €39k in 2025 against €9k in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €746k
Fixed assets
€740k ▼ 2.1%
Current assets
€5k ▼ 14.5%
Equity and liabilities €746k
Equity
€719k ▼ 5.2%
Debt
€27k ▲ 470%
Debt's share of the balance-sheet total rises from 0.6% to 3.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-23k▼
2024 · €7k
Cash flow
€-23k▼
2024 · €7k
Current ratio
0.20▼
2024 · 1.29
Debt to equity
0.04▲
2024 · 0.01
ROE
-5.4%▼
2024 · -1.1%
ROA
-5.2%▼
2024 · -1.1%
Interest coverage
-406.29▼
2024 · 247.41
Debt ≤ 1 year
€25k▲
2024 · €5k
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 · 36 lines
Balance sheet
Code20242025
Assets
Total assets20/58€763k€746k▼
Fixed assets21/28€757k€740k▼
Tangible fixed assets22/27€757k€740k▼
Land and buildings22€757k€740k▼
Current assets29/58€6k€5k▼
Amounts receivable within one year40/41-€1k
Trade receivables40-€1k
Cash at bank and in hand54/58€5k€3k▼
Deferred charges and accrued income490/1€1k€1k▲
Equity and liabilities
Total equity and liabilities10/49€763k€746k▼
Equity10/15€758k€719k▼
Contributions10/11€75k€75k=
Capital10€75k€75k=
Issued capital100€75k€75k=
Reserves13€578k€578k=
Non-distributable reserves130/1€8k€8k=
Legal reserve130€8k€8k=
Distributable reserves133€570k€570k=
Profit (loss) carried forward14€105k€66k▼
Amounts payable17/49€5k€27k▲
Amounts payable within one year42/48€5k€25k▲
Trade debts44€5k€1k▼
Suppliers440/4€5k€1k▼
Other amounts payable47/48€0€24k▲
Accrued charges and deferred income492/3-€1k
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€16k€16k=
Other operating charges640/8€22k€22k▲
Gross operating margin9900€30k€-570▼
Operating profit (loss)9901€-9k€-39k▼
Financial charges65/66B€30€57▲
Recurring financial charges65€30€57▲
Profit (loss) for the period before taxes9903€-9k€-39k▼
Profit (loss) for the period9904€-9k€-39k▼
Profit (loss) for the period to be appropriated9905€-9k€-39k▼
Appropriation of the result
Profit (loss) to be appropriated9906€105k€66k▼
Profit (loss) brought forward from the previous period14P€114k€105k▼
The notes to these accounts (3 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 | €16k | €16k | €16k | €16k | €16k | = |
| Other operating charges640/8 | - | €20k | €20k | €22k | €22k | ▲ 1.3% |
| Gross operating margin9900 | €132k | €84k | €41k | €30k | €-570 | ▼ 102% |
| Operating profit (loss)9901 | €97k | €48k | €5k | €-9k | €-39k | ▼ 353% |
| Financial charges65/66B | - | €2k | €50 | €30 | €57 | ▲ 88.3% |
| Recurring financial charges65 | €3k | €2k | €50 | €30 | €57 | ▲ 88.3% |
| Profit (loss) for the period before taxes9903 | €94k | €46k | €5k | €-9k | €-39k | ▼ 352% |
| Income taxes67/77 | €25k | €12k | €1k | - | - | - |
| Profit (loss) for the period9904 | €69k | €33k | €4k | €-9k | €-39k | ▼ 352% |
| Profit (loss) for the period to be appropriated9905 | €69k | €33k | €4k | €-9k | €-39k | ▼ 352% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €942k | €826k | €801k | €763k | €746k | ▼ 2.2% |
| Fixed assets21/28 | €805k | €789k | €773k | €757k | €740k | ▼ 2.1% |
| Tangible fixed assets22/27 | €805k | €789k | €773k | €757k | €740k | ▼ 2.1% |
| Land and buildings22 | - | €789k | €773k | €757k | €740k | ▼ 2.1% |
| Current assets29/58 | €138k | €38k | €29k | €6k | €5k | ▼ 14.5% |
| Amounts receivable within one year40/41 | - | - | - | - | €1k | - |
| Trade receivables40 | - | - | - | - | €1k | - |
| Cash at bank and in hand54/58 | €28k | €34 | €8k | €5k | €3k | ▼ 43.0% |
| Deferred charges and accrued income490/1 | - | €38k | €21k | €1k | €1k | ▲ 0.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €942k | €826k | €801k | €763k | €746k | ▼ 2.2% |
| Equity10/15 | €729k | €763k | €767k | €758k | €719k | ▼ 5.2% |
| Contributions10/11 | €75k | €75k | €75k | €75k | €75k | = |
| Capital10 | - | €75k | €75k | €75k | €75k | = |
| Issued capital100 | - | €75k | €75k | €75k | €75k | = |
| Reserves13 | €578k | €578k | €578k | €578k | €578k | = |
| Non-distributable reserves130/1 | - | €8k | €8k | €8k | €8k | = |
| Legal reserve130 | - | €8k | €8k | €8k | €8k | = |
| Distributable reserves133 | - | €570k | €570k | €570k | €570k | = |
| Profit (loss) carried forward14 | €77k | €110k | €114k | €105k | €66k | ▼ 37.0% |
| Amounts payable17/49 | €213k | €64k | €35k | €5k | €27k | ▲ 470% |
| Amounts payable after more than one year17 | €113k | - | - | - | - | - |
| Amounts payable within one year42/48 | €87k | €51k | €35k | €5k | €25k | ▲ 441% |
| Trade debts44 | €24k | €27k | €21k | €5k | €1k | ▼ 72.5% |
| Suppliers440/4 | - | €27k | €21k | €5k | €1k | ▼ 72.5% |
| Taxes, remuneration and social security45 | - | €12k | €1k | - | - | - |
| Taxes450/3 | - | €12k | €1k | - | - | - |
| Other amounts payable47/48 | - | €12k | €12k | €0 | €24k | ▲ 10,998,523% |
| Accrued charges and deferred income492/3 | - | €13k | - | - | €1k | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €69k | €33k | €4k | €-9k | €-39k | ▼ 352% |
| + Depreciation and write-downs630 | €16k | €16k | €16k | €16k | €16k | = |
| Operating cash flow (approximation) | €85k | €49k | €20k | €7k | €-23k | ▼ 411% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €-28k | €8k | €-3k | €-2k | ▲ 16.4% |
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
30-01
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
30-06
Financial
Weakest financial yearnet €-39k
Net result drops to €-39k, the lowest in the series.
31-01
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-01
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-01
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-01
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-06
Financial
Highest result since 2019net €69k ▲65.7%
Operating result €97k, net result €69k, both a record.
2020
07-12
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2019
17-12
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
29-11
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
30-11
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
23-11
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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, Sint-Niklaas · 1 establishment unit since 1993
Ground area
6,442 m²
Building footprint
1,290 m²
Parcel 46002C0270/00H000, Flanders. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
MARCASA
since 19932.219.190.249
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46002C0270/00H000 | Flanders | 6,442 m² | 1 · 1,290 m² | - |
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.
Identification & contact
Identification
Legal formPublic limited company
Founded21-12-1992
Fiscal year end30-06
Contact
E-mail
boekhouding@hermar.net
Phone
037787383
Fax
037787389
Scores and ratios are computed by Checked and are not a credit decision.