Marcel
ActiveSummary
Marcel has been active since 1997 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €124k and a net result of €17k. Equity is growing by ~51.5% per year across the filed fiscal years. Its solvency ranks better than 91% of 18400 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability84▼-9
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €10k at 30 days acceptable
Liquidity ample (current ratio 7.11 against 8.43 in 2024; short-term debt: 13.7% and cash: 17.7% of total assets), and 13.8% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four 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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
86.2%
Return on assets
12%
Age of the figures
18 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 08-10-2025, 23 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
23 d early
2024
35 d early
2023
1 d early
2022
3 d early
2021
on the day
2020
1 d early
2019
3 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 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close25-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, micro schema
Equity
€124k▲ 15.3%
2024 · €108k
2019: €-36klowest in 7 years
2020: €-20k▲ +45.3% vs 2019
2021: €22k▲ +210% vs 2020
2022: €56k▲ +158% vs 2021
2023: €85k▲ +51.5% vs 2022
2024: €108k▲ +27.2% vs 2023
2025: €124k▲ +15.3% vs 2024highest in 7 years
2019 → 2025
Total assets
€144k▲ 18.3%
2024 · €122k
2019: €114klowest in 7 years
2020: €132k▲ +15.8% vs 2019
2021: €174k▲ +31.4% vs 2020highest in 7 years
2022: €173k▼ -0.6% vs 2021
2023: €162k▼ -6.2% vs 2022
2024: €122k▼ -24.8% vs 2023
2025: €144k▲ +18.3% vs 2024
2019 → 2025
Net result
€17k▼ 27.5%
2024 · €24k
2019: €17k
2020: €16k▼ -5.5% vs 2019lowest in 7 years
2021: €41k▲ +154% vs 2020highest in 7 years
2022: €34k▼ -17.0% vs 2021
2023: €30k▼ -13.6% vs 2022
2024: €24k▼ -19.4% vs 2023
2025: €17k▼ -27.5% vs 2024
2019 → 2025
Working capital
€121k▲ 15.1%
2024 · €105k
2019: €28klowest in 7 years
2020: €48k▲ +73.7% vs 2019
2021: €93k▲ +94.7% vs 2020
2022: €92k▼ -1.0% vs 2021
2023: €81k▼ -12.4% vs 2022
2024: €105k▲ +29.9% vs 2023
2025: €121k▲ +15.1% vs 2024highest 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€22k-€56k▲ 158%€85k▲ 51.5%€108k▲ 27.2%€124k▲ 15.3%
2021: €22klowest in 5 years
2022: €56k▲ +158% vs 2021
2023: €85k▲ +51.5% vs 2022
2024: €108k▲ +27.2% vs 2023
2025: €124k▲ +15.3% vs 2024highest in 5 years
Operating result€40k-€34k▼ 13.5%€41k▲ 20.4%€34k▼ 17.9%€25k▼ 26.1%
2021: €40k
2022: €34k▼ -13.5% vs 2021
2023: €41k▲ +20.4% vs 2022highest in 5 years
2024: €34k▼ -17.9% vs 2023
2025: €25k▼ -26.1% vs 2024lowest in 5 years
Net result€41k-€34k▼ 17.0%€30k▼ 13.6%€24k▼ 19.4%€17k▼ 27.5%
2021: €41khighest in 5 years
2022: €34k▼ -17.0% vs 2021
2023: €30k▼ -13.6% vs 2022
2024: €24k▼ -19.4% vs 2023
2025: €17k▼ -27.5% vs 2024lowest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 26% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €144k
Fixed assets
€4k ▲ 27.4%
Current assets
€141k ▲ 18.1%
Equity and liabilities €144k
Equity
€124k ▲ 15.3%
Debt
€20k ▲ 41.3%
Debt's share of the balance-sheet total rises from 11.6% to 13.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€26k▼
2024 · €35k
Cash flow
€19k▼
2024 · €25k
Current ratio
7.11▼
2024 · 8.43
Quick ratio
2.68▲
2024 · 2.11
Debt to equity
0.16▲
2024 · 0.13
ROE
13.9%▼
2024 · 22.2%
ROA
12.0%▼
2024 · 19.6%
Interest coverage
27.94▼
2024 · 28.28
Debt ≤ 1 year
€20k▲
2024 · €14k
Income taxes
€8k▼
2024 · €11k
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 · 49 lines
Balance sheet
Code20242025
Assets
Total assets20/58€122k€144k▲
Fixed assets21/28€3k€4k▲
Tangible fixed assets22/27€3k€4k▲
Plant, machinery and equipment23€2k€2k▼
Other tangible fixed assets26€648€2k▲
Current assets29/58€119k€141k▲
Stocks and contracts in progress3€89k€88k▼
Stocks30/36€89k€88k▼
Amounts receivable within one year40/41€2k€788▼
Trade receivables40€2k€0▼
Other amounts receivable41€160€788▲
Current investments50/53-€26k
Cash at bank and in hand54/58€27k€26k▼
Deferred charges and accrued income490/1€606€734▲
Equity and liabilities
Total equity and liabilities10/49€122k€144k▲
Equity10/15€108k€124k▲
Contributions10/11€19k€19k=
Reserves13€89k€106k▲
Non-distributable reserves130/1€0-
Reserves not available under the articles1311€0-
Tax-exempt reserves132€372€372=
Distributable reserves133€89k€105k▲
Profit (loss) carried forward14€0€0=
Amounts payable17/49€14k€20k▲
Amounts payable within one year42/48€14k€20k▲
Trade debts44€156€2k▲
Suppliers440/4€156€2k▲
Taxes, remuneration and social security45€7k€8k▲
Taxes450/3€7k€8k▲
Other amounts payable47/48€7k€10k▲
Accrued charges and deferred income492/3-€192
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1k€1k▲
Other operating charges640/8€583€866▲
Gross operating margin9900€36k€27k▼
Operating profit (loss)9901€34k€25k▼
Financial income75/76B€2k€1k▼
Recurring financial income75€2k€1k▼
Financial charges65/66B€1k€947▼
Recurring financial charges65€1k€947▼
Profit (loss) for the period before taxes9903€35k€26k▼
Income taxes67/77€11k€8k▼
Profit (loss) for the period9904€24k€17k▼
Profit (loss) for the period to be appropriated9905€24k€17k▼
Appropriation of the result
Profit (loss) to be appropriated9906€24k€17k▼
Profit (loss) brought forward from the previous period14P€0-
Transfer to equity691/2€23k€16k▼
To other reserves6921€23k€16k▼
Profit to be distributed694/7€800€833▲
Return on contributions (dividend)694€800€833▲
The notes to these accounts (13 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 | €4k | €4k | €5k | €1k | €1k | ▲ 29.6% |
| Other operating charges640/8 | - | €1k | €795 | €583 | €866 | ▲ 48.4% |
| Gross operating margin9900 | €44k | €40k | €47k | €36k | €27k | ▼ 23.3% |
| Operating profit (loss)9901 | €40k | €34k | €41k | €34k | €25k | ▼ 26.1% |
| Financial income75/76B | - | €2k | €2k | €2k | €1k | ▼ 37.7% |
| Recurring financial income75 | €2k | €2k | €2k | €2k | €1k | ▼ 37.7% |
| Financial charges65/66B | - | €702 | €582 | €1k | €947 | ▼ 23.5% |
| Recurring financial charges65 | €247 | €702 | €582 | €1k | €947 | ▼ 23.5% |
| Profit (loss) for the period before taxes9903 | €41k | €36k | €43k | €35k | €26k | ▼ 27.0% |
| Income taxes67/77 | - | €2k | €14k | €11k | €8k | ▼ 25.8% |
| Profit (loss) for the period9904 | €41k | €34k | €30k | €24k | €17k | ▼ 27.5% |
| Profit (loss) for the period to be appropriated9905 | €41k | €34k | €30k | €24k | €17k | ▼ 27.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €174k | €173k | €162k | €122k | €144k | ▲ 18.3% |
| Fixed assets21/28 | €9k | €9k | €4k | €3k | €4k | ▲ 27.4% |
| Tangible fixed assets22/27 | €9k | €9k | €4k | €3k | €4k | ▲ 27.4% |
| Plant, machinery and equipment23 | - | €4k | €3k | €2k | €2k | ▼ 7.7% |
| Other tangible fixed assets26 | - | €5k | €810 | €648 | €2k | ▲ 150% |
| Current assets29/58 | €166k | €164k | €158k | €119k | €141k | ▲ 18.1% |
| Stocks and contracts in progress3 | €67k | €71k | €82k | €89k | €88k | ▼ 2.0% |
| Stocks30/36 | - | €71k | €82k | €89k | €88k | ▼ 2.0% |
| Amounts receivable within one year40/41 | €2k | €1k | €1k | €2k | €788 | ▼ 59.9% |
| Trade receivables40 | - | €1k | €1k | €2k | €0 | ▼ 100% |
| Other amounts receivable41 | - | - | - | €160 | €788 | ▲ 394% |
| Current investments50/53 | - | - | - | - | €26k | - |
| Cash at bank and in hand54/58 | €96k | €92k | €74k | €27k | €26k | ▼ 6.2% |
| Deferred charges and accrued income490/1 | - | €568 | €817 | €606 | €734 | ▲ 21.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €174k | €173k | €162k | €122k | €144k | ▲ 18.3% |
| Equity10/15 | €22k | €56k | €85k | €108k | €124k | ▲ 15.3% |
| Contributions10/11 | - | €19k | €19k | €19k | €19k | = |
| Reserves13 | €40k | €40k | €66k | €89k | €106k | ▲ 18.5% |
| Non-distributable reserves130/1 | - | €2k | €2k | €0 | - | - |
| Reserves not available under the articles1311 | - | €2k | €2k | €0 | - | - |
| Tax-exempt reserves132 | - | €372 | €372 | €372 | €372 | = |
| Distributable reserves133 | - | €38k | €64k | €89k | €105k | ▲ 18.5% |
| Profit (loss) carried forward14 | €-37k | €-3k | €0 | €0 | €0 | - |
| Amounts payable17/49 | €152k | €117k | €78k | €14k | €20k | ▲ 41.3% |
| Amounts payable after more than one year17 | €80k | €45k | €0 | - | - | - |
| Other amounts payable178/9 | - | €45k | €0 | - | - | - |
| Amounts payable within one year42/48 | €72k | €72k | €78k | €14k | €20k | ▲ 39.9% |
| Trade debts44 | €946 | €4k | €553 | €156 | €2k | ▲ 893% |
| Suppliers440/4 | - | €4k | €553 | €156 | €2k | ▲ 893% |
| Taxes, remuneration and social security45 | - | €6k | €14k | €7k | €8k | ▲ 19.3% |
| Taxes450/3 | - | €6k | €14k | €7k | €8k | ▲ 19.3% |
| Other amounts payable47/48 | - | €62k | €63k | €7k | €10k | ▲ 40.9% |
| Accrued charges and deferred income492/3 | - | - | - | - | €192 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €41k | €34k | €30k | €24k | €17k | ▼ 27.5% |
| + Depreciation and write-downs630 | €4k | €4k | €5k | €1k | €1k | ▲ 29.6% |
| Operating cash flow (approximation) | €45k | €38k | €34k | €25k | €19k | ▼ 25.1% |
| Investment in fixed assets (approximation) | - | €-4k | €0 | €0 | €-2k | - |
| Change in cash | - | €-4k | €-18k | €-47k | €-2k | ▲ 96.4% |
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
2025
08-10
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2024
26-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
31-03
Financial
Liquidity quadruplescurrent ratio 8.43
Current ratio from 2.04 to 8.43; short-term debt falls from €78k to €14k.
31-03
Financial
Equity above €100kEq €108k ▲27.2%
6 profitable years in a row build equity to €108k.
2023
30-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2022
28-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2021
31-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
31-03
Financial
Highest result since 2019net €41k ▲154%
Net result €41k, the highest in the series.
2020
30-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
31-03
Financial
Weakest financial yearnet €16k ▼5.5%
Net result drops to €16k, the lowest in the series; recovery starts the following year.
2019
28-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
30-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
30-10
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
12-09
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Turnhout · 1 establishment unit since 1997
Ground area
77 m²
Building footprint
126 m²
Volume, LiDAR
961 m³
Parcel 13454P0123/00E000, Flanders · tallest building 12.8 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Marcel
since 19972.084.546.133
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13454P0123/00E000 | Flanders | 77 m² | 1 · 126 m² | 12.8 m · 3 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.
Public money · subsidies and aid
Flemish government
2022 to 2024 · 2 entries · 108 EUR awarded · 108 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 54 EUR | 54 EUR |
| 2022 | 1 | 54 EUR | 54 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 1,034 companies in sector 47721 we hold annual accounts for 582. 454 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
Founded04-11-1997
Fiscal year end31-03
Activities, NACEBEL 2025
47721Retail sale of footwear
95230Repair and maintenance of computers, personal and household goods, and motor vehicles and motorcycles
Scores and ratios are computed by Checked and are not a credit decision.