MARCHAL
ActiveMARCHAL has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €855k and a net result of €187k. Equity is shrinking by ~3.2% per year across the filed fiscal years. Its solvency ranks better than 67% of 395 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
96
/ 100
Excellent▲ +45 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100▲+66
Solvency75▲+12
Growth58▲+26
Stability100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €80k at 30 days acceptable
Liquidity tight (current ratio 1.06 against 0.74 in 2024), and 46.6% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven 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 41
Relative position
BE, all sectors
reference
Sector 41
higher
← 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
53.4%
Return on assets
11.7%
Age of the figures
8 mo
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 02-06-2026, 59 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
59 d early
2024
38 d early
2023
58 d early
2022
32 d early
2021
47 d early
2020
37 d early
2019
38 d early
← before the deadline
after the deadline →
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
13-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€855k▲ 17.1%
2024 · €730k
2018: €959k
2019: €994k
2020: €1.11M
2021: €1.14M
2022: €878k
2023: €965k
2024: €730k
2018 → 2025
Total assets
€1.60M▲ 2.1%
2024 · €1.57M
2018: €1.20M
2019: €1.07M
2020: €1.26M
2021: €1.22M
2022: €1.78M
2023: €1.81M
2024: €1.57M
2018 → 2025
Net result
€187k▲ 280%
2024 · €49k
2018: €52k
2019: €65k
2020: €121k
2021: €172k
2022: €132k
2023: €87k
2024: €49k
2018 → 2025
Working capital
€27k
2024 · €-138k
2018: €166k
2019: €244k
2020: €338k
2021: €405k
2022: €97k
2023: €61k
2024: €-138k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.14M-€878k▼ 23.1%€965k▲ 9.9%€730k▼ 24.4%€855k▲ 17.1%
Operating result€246k-€155k▼ 37.0%€133k▼ 14.2%€82k▼ 38.6%€282k▲ 245%
Net result€172k-€132k▼ 22.9%€87k▼ 34.2%€49k▼ 43.5%€187k▲ 280%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 245% above 2024 and is the highest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.60M
Fixed assets
€1.10M▼ 6.6%
Current assets
€502k▲ 28.2%
Equity and liabilities €1.60M
Equity
€855k▲ 17.1%
Debt
€745k▼ 11.1%
The debt ratio falls from 53.4% to 46.6%: equity grows while debt is paid down.
Key figures and ratios
EBITDA
€379k▲
2024 · €182k
Cash flow
€284k▲
2024 · €150k
Solvency
53.4%▲
2024 · 46.6%
Current ratio
1.06▲
2024 · 0.74
Quick ratio
1.04▲
2024 · 0.72
Debt / equity
0.87▼
2024 · 1.15
ROE
21.9%▲
2024 · 6.7%
ROA
11.7%▲
2024 · 3.1%
Interest coverage
43.76▲
2024 · 19.02
Debt
€745k▼
2024 · €838k
Debt ≤ 1 year
€476k▼
2024 · €529k
Debt > 1 year
€263k▼
2024 · €301k
Income taxes
€90k▲
2024 · €25k
Staff costs
€363k▲
2024 · €349k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€1.57M€1.60M▲
Fixed assets21/28€1.18M€1.10M▼
Tangible fixed assets22/27€1.17M€1.09M▼
Land and buildings22€1.06M€1.02M▼
Plant, machinery and equipment23€70k€44k▼
Furniture and vehicles24€41k€28k▼
Other tangible fixed assets26€246-
Financial fixed assets28€3k€3k=
Current assets29/58€392k€502k▲
Stocks and contracts in progress3€12k€7k▼
Stocks30/36€12k€7k▼
Amounts receivable within one year40/41€23k€58k▲
Trade receivables40€14k€49k▲
Other amounts receivable41€9k€9k=
Current investments50/53€53k€53k▲
Cash at bank and in hand54/58€299k€377k▲
Deferred charges and accrued income490/1€5k€7k▲
Equity and liabilities
Total equity and liabilities10/49€1.57M€1.60M▲
Equity10/15€730k€855k▲
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€668k€793k▲
Non-distributable reserves130/1€46k€46k=
Legal reserve130€46k€46k=
Distributable reserves133€623k€748k▲
Amounts payable17/49€838k€745k▼
Amounts payable after more than one year17€301k€263k▼
Financial debts170/4€287k€249k▼
Other amounts payable178/9€14k€14k=
Amounts payable within one year42/48€529k€476k▼
Current portion of amounts payable after more than one year42€37k€38k▲
Trade debts44€12k€16k▲
Suppliers440/4€12k€16k▲
Advances received on contracts in progress46€8k€7k▼
Taxes, remuneration and social security45€45k€80k▲
Taxes450/3€11k€44k▲
Remuneration and social security454/9€34k€36k▲
Other amounts payable47/48€427k€335k▼
Accrued charges and deferred income492/3€7k€7k▼
Income statement
Code20242025
Non-recurring operating income76A-€19k
Remuneration, social security and pensions62€349k€363k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€100k€97k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-3k-
Other operating charges640/8€21k€21k▼
Gross operating margin9900€549k€762k▲
Operating profit (loss)9901€82k€282k▲
Financial income75/76B€2k€4k▲
Recurring financial income75€2k€4k▲
Financial charges65/66B€10k€9k▼
Recurring financial charges65€10k€9k▼
Profit (loss) for the period before taxes9903€74k€277k▲
Income taxes67/77€25k€90k▲
Profit (loss) for the period9904€49k€187k▲
Profit (loss) for the period to be appropriated9905€49k€187k▲
Appropriation of the result
Profit (loss) to be appropriated9906€49k€187k▲
Transfer from equity791/2€284k€62k▼
Transfer to equity691/2€49k€187k▲
To other reserves6921€49k€187k▲
Profit to be distributed694/7€284k€62k▼
Return on contributions (dividend)694€284k€62k▼
Social balance
Average headcount (FTE)90876.06.0=
The notes to these accounts (15 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
02-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2018net €187k ▲280%
Operating result €282k, net result €187k, both a record.
23-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Weakest financial yearnet €49k ▼43.5%
Net result drops to €49k, the lowest in the series; recovery starts the following year.
03-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
14-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
24-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Equity above €1MEq €1.11M ▲12.2%
3 profitable years in a row build equity to €1.11M.
23-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Liquidity triplescurrent ratio 4.65
Current ratio from 1.71 to 4.65; short-term debt falls from €234k to €67k.
12-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
15-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
26-06
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.
Directors · office · real estate
Directors
under verification, no change since 2023
This board is reconstructed from a single act (23322716). A Gazette act generally publishes only CHANGES, not a full roll call, so directors unchanged since then may be missing here. The KBO register holds the complete list of function holders.
MARCHAL Dirk
CurrentDirector · since 15-03-2023
MARCHAL Henri
CurrentDirector · since 15-03-2023
MARCHAL Hilde
CurrentDirector · since 15-03-2023
15-03-2023
MARCHAL Dirk: Appointed as Director
15-03-2023
MARCHAL Henri: Appointed as Director
15-03-2023
MARCHAL Hilde: Appointed as Director
Location & real-estate footprint
Registered office, Bierbeek · 1 establishment unit since 1988
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Dorpsstraat 433360 BierbeekGround area
1.3 ha
Building footprint
5,644 m²
Volume, LiDAR
40,494 m³
2 parcels, Flanders · tallest building 26.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Nieuwland zn, 3200 Aarschot
since 19882.039.291.277
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24662F0211/00B000 | Flanders | 1.2 ha | 1 · 5,435 m² | 26.4 m · 2 fl. |
| 24011H0178/00T003 | Flanders | 1,340 m² | 1 · 208 m² | 7.4 m · 1 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels 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 2025 · 3 entries · 246 EUR awarded · 206 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 74 EUR | 56 EUR |
| 2023 | 1 | 0 EUR | 99 EUR |
| 2022 | 1 | 172 EUR | 51 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Similar companies · same sector, comparable size
ALGEMENE BOUWWERKEN NEYT
BE 0448.039.436
Bredene · Eq €855k
DE PEUTER J.
BE 0810.782.715
Meerhout · Eq €854k
LIERNEUX ERIC
BE 0431.835.783
Modave · Eq €854k
Construbel
BE 0808.238.741
Nivelles · Eq €854k
CLARINVAL GUY
BE 0433.311.470
Beauraing · Eq €854k
Of 29,531 companies in sector 41001 we hold annual accounts for 15,864. 7,016 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded28-03-1988
Fiscal year end31-12
Activities, NACEBEL
41001General construction of residential buildings
42212Civil engineering
45211
43990Other specialised construction activities
43999Specialised construction activities
Sources
Crossroads Bank for EnterprisesNational Bank · 36 filingsAddress and cadastre registers
Data from official sources, last processed on 12-09-2026. Scores and ratios are computed by Checked and are not a credit decision.