MARCVASI
ActiveSummary
The computed 12-month bankruptcy probability of MARCVASI is 2.4% (moderate). The 2024 annual accounts show equity of €45k and a net result of €27k. Equity is growing by ~34.7% per year across the filed fiscal years. Its solvency ranks better than 16% of 36375 sector peers (fiscal year 2024). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability79▲+6
Solvency38▲+3
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
2.4%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €2k at 30 days acceptable
Liquidity tight (current ratio 1.06 against 0.99 in 2023; short-term debt: 86.8% and cash: 20.1% of total assets), and 86.8% 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.
+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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
13.2%
Return on assets
7.9%
Age of the figures
21 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 16% of 36375 sector peers (2024).
NBB · sector comparisonPosition among 36375 sector peers
Solvency
better than 16%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 09-10-2025, 70 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 5 filingsDeviation from the deadline
2025
not confirmed
2024
70 d late
2023
67 d late
2022
70 d late
2021
58 d late
2020
28 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€45k▲ 151%
2023 · €18k
2020: €10klowest in 5 years
2021: €11k▲ +10.4% vs 2020
2022: €12k▲ +3.7% vs 2021
2023: €18k▲ +51.8% vs 2022
2024: €45k▲ +151% vs 2023highest in 5 years
2020 → 2024
Total assets
€341k▲ 85.8%
2023 · €183k
2020: €33klowest in 5 years
2021: €83k▲ +150% vs 2020
2022: €91k▲ +10.1% vs 2021
2023: €183k▲ +101% vs 2022
2024: €341k▲ +85.8% vs 2023highest in 5 years
2020 → 2024
Net result
€27k▲ 342%
2023 · €6k
2020: €8k
2021: €1k▼ -87.1% vs 2020
2022: €426▼ -60.4% vs 2021lowest in 5 years
2023: €6k▲ +1339% vs 2022
2024: €27k▲ +342% vs 2023highest in 5 years
2020 → 2024
Working capital
€18k
2023 · €-2k
2020: €10k
2021: €11k▲ +10.4% vs 2020
2022: €10k▼ -12.0% vs 2021
2023: €-2k▼ -124% vs 2022lowest in 5 years
2024: €18k▲ +861% vs 2023highest in 5 years
2020 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€10k-€11k▲ 10.4%€12k▲ 3.7%€18k▲ 51.8%€45k▲ 151%
2020: €10klowest in 5 years
2021: €11k▲ +10.4% vs 2020
2022: €12k▲ +3.7% vs 2021
2023: €18k▲ +51.8% vs 2022
2024: €45k▲ +151% vs 2023highest in 5 years
Operating result€15k-€9k▼ 38.3%€722▼ 92.2%€6k▲ 793%€27k▲ 324%
2020: €15k
2021: €9k▼ -38.3% vs 2020
2022: €722▼ -92.2% vs 2021lowest in 5 years
2023: €6k▲ +793% vs 2022
2024: €27k▲ +324% vs 2023highest in 5 years
Net result€8k-€1k▼ 87.1%€426▼ 60.4%€6k▲ 1,339%€27k▲ 342%
2020: €8k
2021: €1k▼ -87.1% vs 2020
2022: €426▼ -60.4% vs 2021lowest in 5 years
2023: €6k▲ +1339% vs 2022
2024: €27k▲ +342% vs 2023highest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 324% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €341k
Fixed assets
€27k ▲ 31.0%
Current assets
€314k ▲ 92.7%
Equity and liabilities €341k
Equity
€45k ▲ 151%
Debt
€296k ▲ 78.8%
Debt's share of the balance-sheet total falls from 90.2% to 86.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€44k▲
2023 · €19k
Cash flow
€44k▲
2023 · €19k
Current ratio
1.06▲
2023 · 0.99
Debt to equity
6.57▼
2023 · 9.22
ROE
60.1%▲
2023 · 34.1%
ROA
7.9%▲
2023 · 3.3%
Interest coverage
167.54▲
2023 · 60.76
Debt ≤ 1 year
€296k▲
2023 · €166k
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 · 2024 against 2023 · 38 lines
Balance sheet
Code20232024
Assets
Total assets20/58€183k€341k▲
Fixed assets21/28€20k€27k▲
Tangible fixed assets22/27€20k€27k▲
Furniture and vehicles24€20k€27k▲
Current assets29/58€163k€314k▲
Amounts receivable within one year40/41€102k€241k▲
Trade receivables40€91k€233k▲
Other amounts receivable41€11k€8k▼
Cash at bank and in hand54/58€61k€69k▲
Deferred charges and accrued income490/1-€5k
Equity and liabilities
Total equity and liabilities10/49€183k€341k▲
Equity10/15€18k€45k▲
Contributions10/11€2k€2k=
Reserves13€6k€6k=
Non-distributable reserves130/1-€6k
Reserves not available under the articles1311-€6k
Distributable reserves133€6k-
Profit (loss) carried forward14€10k€37k▲
Amounts payable17/49€166k€296k▲
Amounts payable within one year42/48€166k€296k▲
Trade debts44€154k€279k▲
Suppliers440/4-€279k
Bills of exchange payable441€154k-
Taxes, remuneration and social security45€10k€17k▲
Taxes450/3€10k€17k▲
Other amounts payable47/48€929-
Income statement
Code20232024
Goods, raw materials, services and sundry goods60/61€497k€607k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€13k€17k▲
Other operating charges640/8€3k€3k▼
Gross operating margin9900€22k€47k▲
Operating profit (loss)9901€6k€27k▲
Financial charges65/66B€318€264▼
Recurring financial charges65€318€264▼
Profit (loss) for the period before taxes9903€6k€27k▲
Profit (loss) for the period9904€6k€27k▲
Profit (loss) for the period to be appropriated9905€6k€27k▲
Appropriation of the result
Profit (loss) to be appropriated9906€10k€37k▲
Profit (loss) brought forward from the previous period14P€4k€10k▲
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €497k | €607k | ▲ 22.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | €2k | €13k | €17k | ▲ 31.1% |
| Other operating charges640/8 | - | €15k | €25k | €3k | €3k | ▼ 1.5% |
| Gross operating margin9900 | €18k | €25k | €28k | €22k | €47k | ▲ 111% |
| Operating profit (loss)9901 | €15k | €9k | €722 | €6k | €27k | ▲ 324% |
| Recurring financial income75 | €1 | - | - | - | - | - |
| Financial charges65/66B | - | €649 | €296 | €318 | €264 | ▼ 17.0% |
| Recurring financial charges65 | €52 | €649 | €296 | €318 | €264 | ▼ 17.0% |
| Profit (loss) for the period before taxes9903 | €15k | €9k | €426 | €6k | €27k | ▲ 342% |
| Income taxes67/77 | €7k | €8k | - | - | - | - |
| Profit (loss) for the period9904 | €8k | €1k | €426 | €6k | €27k | ▲ 342% |
| Profit (loss) for the period to be appropriated9905 | €8k | €1k | €426 | €6k | €27k | ▲ 342% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €33k | €83k | €91k | €183k | €341k | ▲ 85.8% |
| Fixed assets21/28 | - | - | €2k | €20k | €27k | ▲ 31.0% |
| Tangible fixed assets22/27 | - | - | €2k | €20k | €27k | ▲ 31.0% |
| Furniture and vehicles24 | - | - | €2k | €20k | €27k | ▲ 31.0% |
| Current assets29/58 | €33k | €83k | €89k | €163k | €314k | ▲ 92.7% |
| Amounts receivable within one year40/41 | €7k | €75k | €22k | €102k | €241k | ▲ 136% |
| Trade receivables40 | - | €72k | €17k | €91k | €233k | ▲ 156% |
| Other amounts receivable41 | - | €3k | €5k | €11k | €8k | ▼ 30.7% |
| Cash at bank and in hand54/58 | €26k | €8k | €68k | €61k | €69k | ▲ 12.3% |
| Deferred charges and accrued income490/1 | - | - | - | - | €5k | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €33k | €83k | €91k | €183k | €341k | ▲ 85.8% |
| Equity10/15 | €10k | €11k | €12k | €18k | €45k | ▲ 151% |
| Contributions10/11 | - | €2k | €2k | €2k | €2k | = |
| Reserves13 | €6k | €6k | €6k | €6k | €6k | = |
| Non-distributable reserves130/1 | - | - | - | - | €6k | - |
| Reserves not available under the articles1311 | - | - | - | - | €6k | - |
| Distributable reserves133 | - | €6k | €6k | €6k | - | - |
| Profit (loss) carried forward14 | €2k | €3k | €4k | €10k | €37k | ▲ 272% |
| Amounts payable17/49 | €23k | €71k | €79k | €166k | €296k | ▲ 78.8% |
| Amounts payable within one year42/48 | €23k | €71k | €79k | €166k | €296k | ▲ 78.8% |
| Trade debts44 | €8k | €56k | €74k | €154k | €279k | ▲ 80.9% |
| Suppliers440/4 | - | €56k | €74k | - | €279k | - |
| Bills of exchange payable441 | - | - | - | €154k | - | - |
| Taxes, remuneration and social security45 | - | €14k | €5k | €10k | €17k | ▲ 62.5% |
| Taxes450/3 | - | €14k | €5k | €10k | €17k | ▲ 62.5% |
| Other amounts payable47/48 | - | €929 | €929 | €929 | - | - |
| Accrued charges and deferred income492/3 | - | €0 | - | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €8k | €1k | €426 | €6k | €27k | ▲ 342% |
| + Depreciation and write-downs630 | - | - | €2k | €13k | €17k | ▲ 31.1% |
| Operating cash flow (approximation) | €8k | €1k | €2k | €19k | €44k | ▲ 131% |
| Investment in fixed assets (approximation) | - | - | - | €-31k | €-23k | ▲ 26.3% |
| Change in cash | - | €-18k | €59k | €-7k | €8k | ▲ 215% |
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
2025
09-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 70 days late
2024
31-12
Financial
Highest result since 2020net €27k ▲342%
Operating result €27k, net result €27k, both a record.
06-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 67 days late
2023
09-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 70 days late
2022
31-12
Financial
Weakest financial yearnet €426 ▼60.4%
Net result drops to €426, the lowest in the series; recovery starts the following year.
27-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 58 days late
2021
28-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 28 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Dilbeek · 1 establishment unit since 2020
Ground area
597 m²
Building footprint
197 m²
Volume, LiDAR
1,155 m³
2 parcels, Flanders · tallest building 9.6 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MARCVASI
since 20202.299.887.717
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23026B0091/00B009 | Flanders | 452 m² | 1 · 109 m² | 9.6 m · 2 fl. |
| 23026C0320/02M002 | Flanders | 144 m² | 1 · 88 m² | 9.1 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 7,863 companies in sector 43341 we hold annual accounts for 2,663. 2,301 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
Founded17-02-2020
Fiscal year end31-12
Activities, NACEBEL 2025
43341Painting of buildings
41001General construction of residential buildings
43910Bricklaying and masonry work
43990Other specialised construction activities
Scores and ratios are computed by Checked and are not a credit decision.