MARCH-ONE
ActiveSummary
MARCH-ONE has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €26k and a net result of €136k. Equity is growing by ~30.5% per year across the filed fiscal years. Its solvency ranks better than 18% of 9234 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability75▼-6
Solvency26▲+8
Growth78=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1k at 30 days acceptable
Liquidity short (current ratio 0.15 against 0.03 in 2024; short-term debt: 99% and cash: 14.1% of total assets), and 99% of the assets are financed with debt.
Credit check for your own amount and term
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 dateAge against the risk zone
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 · 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
1%
Return on assets
5.2%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 18% of 9234 sector peers (2025).
NBB · sector comparisonPosition among 9234 sector peers
Solvency
better than 18%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 06-07-2026, 25 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
25 d early
2024
19 d early
2023
3 d early
2022
3 d early
2021
5 d early
2020
17 d late
2019
9 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 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€136k▼ 5.9%
2024 · €145k
2019: €-703klowest in 7 years
2020: €72k▲ +110% vs 2019
2021: €79k▲ +9.3% vs 2020
2022: €122k▲ +53.6% vs 2021
2023: €155k▲ +27.9% vs 2022highest in 7 years
2024: €145k▼ -6.7% vs 2023
2025: €136k▼ -5.9% vs 2024
2019 → 2025
Working capital
€-2.23M▼ 158%
2024 · €-864k
2019: €-2.00M
2020: €-656k▲ +67.3% vs 2019
2021: €-650k▲ +0.8% vs 2020
2022: €-631k▲ +3.1% vs 2021highest in 7 years
2023: €-917k▼ -45.5% vs 2022
2024: €-864k▲ +5.8% vs 2023
2025: €-2.23M▼ -158% 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€-532k-€-411k▲ 22.8%€-255k▲ 37.8%€-110k▲ 56.8%€26k
2021: €-532klowest in 5 years
2022: €-411k▲ +22.8% vs 2021
2023: €-255k▲ +37.8% vs 2022
2024: €-110k▲ +56.8% vs 2023
2025: €26k▲ +124% vs 2024highest in 5 years
Operating result€111k-€136k▲ 22.2%€169k▲ 24.0%€156k▼ 7.1%€149k▼ 4.9%
2021: €111klowest in 5 years
2022: €136k▲ +22.2% vs 2021
2023: €169k▲ +24.0% vs 2022highest in 5 years
2024: €156k▼ -7.1% vs 2023
2025: €149k▼ -4.9% vs 2024
Net result€79k-€122k▲ 53.6%€155k▲ 27.9%€145k▼ 6.7%€136k▼ 5.9%
2021: €79klowest in 5 years
2022: €122k▲ +53.6% vs 2021
2023: €155k▲ +27.9% vs 2022highest in 5 years
2024: €145k▼ -6.7% vs 2023
2025: €136k▼ -5.9% vs 2024
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 5% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.64M
Fixed assets
€2.25M ▲ 49.1%
Current assets
€387k ▲ 1,380%
Equity and liabilities €2.64M
Equity
€26k
Debt
€2.62M
Debt finances 99.0% of the balance-sheet total.
Key figures and ratios
EBITDA
€206k▼
2024 · €214k
Cash flow
€194k▼
2024 · €202k
Current ratio
0.15▲
2024 · 0.03
ROE
523.5%
ROA
5.2%▼
2024 · 9.4%
Interest coverage
20.48▲
2024 · 18.69
Debt ≤ 1 year
€2.62M▲
2024 · €890k
Debt > 1 year
€0▼
2024 · €758k
Income taxes
€2k
A ratio outside any meaningful range has been withheld (balance sheet total €2.64M, equity €26k).
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 · 41 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.54M€2.64M▲
Fixed assets21/28€1.51M€2.25M▲
Tangible fixed assets22/27€1.51M€1.45M▼
Land and buildings22€1.51M€1.45M▼
Financial fixed assets28-€800k
Current assets29/58€26k€387k▲
Amounts receivable within one year40/41€4k€12k▲
Trade receivables40€4k€0▼
Other amounts receivable41-€12k
Cash at bank and in hand54/58€20k€373k▲
Deferred charges and accrued income490/1€2k€2k▲
Equity and liabilities
Total equity and liabilities10/49€1.54M€2.64M▲
Equity10/15€-110k€26k▲
Contributions10/11€19k€19k=
Profit (loss) carried forward14€-129k€7k▲
Amounts payable17/49€1.65M€2.62M▲
Amounts payable after more than one year17€758k€0▼
Financial debts170/4€758k€0▼
Amounts payable within one year42/48€890k€2.62M▲
Current portion of amounts payable after more than one year42€149k€0▼
Financial debts43-€771k
Credit institutions430/8-€771k
Trade debts44€296€2k▲
Suppliers440/4€296€2k▲
Taxes, remuneration and social security45€6k€8k▲
Taxes450/3€6k€8k▲
Other amounts payable47/48€735k€1.84M▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€57k€57k=
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€18k
Other operating charges640/8€17k€5k▼
Gross operating margin9900€231k€229k▼
Operating profit (loss)9901€156k€149k▼
Financial charges65/66B€11k€10k▼
Recurring financial charges65€11k€10k▼
Profit (loss) for the period before taxes9903€145k€139k▼
Income taxes67/77-€2k
Profit (loss) for the period9904€145k€136k▼
Profit (loss) for the period to be appropriated9905€145k€136k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-129k€7k▲
Profit (loss) brought forward from the previous period14P€-274k€-129k▲
Social balance
Average headcount (FTE)9087-0.0
The notes to these accounts (10 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 | €56k | €57k | €57k | €57k | €57k | = |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €18k | - |
| Other operating charges640/8 | €3k | €13k | €17k | €17k | €5k | ▼ 71.7% |
| Gross operating margin9900 | €170k | €206k | €243k | €231k | €229k | ▼ 0.8% |
| Operating profit (loss)9901 | €111k | €136k | €169k | €156k | €149k | ▼ 4.9% |
| Financial charges65/66B | €32k | €14k | €13k | €11k | €10k | ▼ 12.0% |
| Recurring financial charges65 | €32k | €14k | €13k | €11k | €10k | ▼ 12.0% |
| Profit (loss) for the period before taxes9903 | €79k | €122k | €155k | €145k | €139k | ▼ 4.3% |
| Income taxes67/77 | - | - | - | - | €2k | - |
| Profit (loss) for the period9904 | €79k | €122k | €155k | €145k | €136k | ▼ 5.9% |
| Profit (loss) for the period to be appropriated9905 | €79k | €122k | €155k | €145k | €136k | ▼ 5.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.68M | €1.66M | €1.62M | €1.54M | €2.64M | ▲ 71.8% |
| Fixed assets21/28 | €1.67M | €1.62M | €1.57M | €1.51M | €2.25M | ▲ 49.1% |
| Tangible fixed assets22/27 | €1.67M | €1.62M | €1.57M | €1.51M | €1.45M | ▼ 3.8% |
| Land and buildings22 | €1.67M | €1.62M | €1.57M | €1.51M | €1.45M | ▼ 3.8% |
| Financial fixed assets28 | - | - | - | - | €800k | - |
| Current assets29/58 | €16k | €40k | €50k | €26k | €387k | ▲ 1,380% |
| Amounts receivable within one year40/41 | - | €11k | €16k | €4k | €12k | ▲ 186% |
| Trade receivables40 | - | €11k | €16k | €4k | €0 | ▼ 100% |
| Other amounts receivable41 | - | - | - | - | €12k | - |
| Cash at bank and in hand54/58 | €16k | €29k | €34k | €20k | €373k | ▲ 1,761% |
| Deferred charges and accrued income490/1 | - | - | - | €2k | €2k | ▲ 18.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.68M | €1.66M | €1.62M | €1.54M | €2.64M | ▲ 71.8% |
| Equity10/15 | €-532k | €-411k | €-255k | €-110k | €26k | ▲ 124% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Capital10 | €19k | €19k | - | - | - | - |
| Issued capital100 | €19k | €19k | - | - | - | - |
| Profit (loss) carried forward14 | €-551k | €-429k | €-274k | €-129k | €7k | ▲ 106% |
| Amounts payable17/49 | €2.22M | €2.08M | €1.87M | €1.65M | €2.62M | ▲ 58.7% |
| Amounts payable after more than one year17 | €1.55M | €1.40M | €907k | €758k | €0 | ▼ 100% |
| Financial debts170/4 | €1.55M | €1.40M | €907k | €758k | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €666k | €671k | €967k | €890k | €2.62M | ▲ 194% |
| Current portion of amounts payable after more than one year42 | €144k | €146k | €148k | €149k | €0 | ▼ 100% |
| Financial debts43 | - | - | - | - | €771k | - |
| Credit institutions430/8 | - | - | - | - | €771k | - |
| Trade debts44 | €2k | €3k | €3k | €296 | €2k | ▲ 568% |
| Suppliers440/4 | €2k | €3k | €3k | €296 | €2k | ▲ 568% |
| Taxes, remuneration and social security45 | €10k | €12k | €12k | €6k | €8k | ▲ 40.8% |
| Taxes450/3 | €10k | €12k | €12k | €6k | €8k | ▲ 40.8% |
| Other amounts payable47/48 | €510k | €510k | €805k | €735k | €1.84M | ▲ 150% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €79k | €122k | €155k | €145k | €136k | ▼ 5.9% |
| + Depreciation and write-downs630 | €56k | €57k | €57k | €57k | €57k | = |
| Operating cash flow (approximation) | €136k | €179k | €213k | €202k | €194k | ▼ 4.3% |
| Investment in fixed assets (approximation) | - | €-13k | €-2k | €0 | €-800k | ▼ 363,636,464% |
| Change in cash | - | €13k | €5k | €-14k | €353k | ▲ 2,691% |
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
04-09
State Gazette act
Appointment: Salomée Pignataro (director)Power of attorney3 facts ▸
State Gazette act
Appointment: Salomée Pignataro (director)
Power of attorney3 facts ▸
- General meeting, 01-01-2025
- Director appointment, Salomée Pignataro (director)
- Power of attorney
28-08
State Gazette act
Appointment: Loucas Pignataro (director)Mandate compensation3 facts ▸
State Gazette act
Appointment: Loucas Pignataro (director)
Mandate compensation3 facts ▸
- General meeting, 01-01-2025
- Director appointment, Loucas Pignataro (director)
- Mandate compensation, Loucas Pignataro
06-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
12-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
28-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Highest result since 2019net €155k ▲27.9%
Operating result €169k, net result €155k, both a record.
28-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
26-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
17-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 17 days late
2020
31-12
Financial
Back to profitnet €72k
Net result €72k after one loss-making year.
22-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
2 of 5 acts read
About the unread acts
Of the 5 Belgian State Gazette acts we know for this company, 2 have been read. The other 3 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 directors, last change in 2025
Loucas Pignataro
CurrentDirector · since 01-01-2025
Salomée Pignataro
CurrentDirector · since 01-01-2025
01-01-2025
Loucas Pignataro: Appointed as Director
01-01-2025
Salomée Pignataro: Appointed as Director
Not every act has been read: a resignation may be missing here
3 of this company's 5 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Namur · 1 establishment unit since 2019
Ground area
492 m²
Building footprint
88 m²
Parcel 92302G0324/00M003, Wallonia. Linked by address, not a title deed.
10
companies at this address
See who is registered here
1 establishment unit
MARCH ONE SPRL
since 20192.284.419.284
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92302G0324/00M003 | Wallonia | 492 m² | 1 · 88 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.
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Of 9,136 companies in sector 68201 we hold annual accounts for 6,765. 2,542 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
Founded19-12-2018
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
68121Development of residential building projects
68122Development of non-residential building projects
68203Renting and operating of own or leased non-residential real estate, excluding land
Contact
E-mail
pignataro@outlook.be
Phone
+32475276132
E-mail
pignataro@skynet.beNamur
Scores and ratios are computed by Checked and are not a credit decision.