MARDEM
ActiveMARDEM has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €330k and a net result of €12k. Equity is growing by ~2.8% per year across the filed fiscal years. Its solvency ranks better than 62% of 651 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
72
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability71▼-21
Solvency73▼-27
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €23k at 30 days acceptable
Liquidity ample (current ratio 1.79 against 9.74 in 2024; short-term debt: 22.9% and cash: 14.8% of total assets), but 51.6% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 52
Relative position
BE, all sectors
reference
Sector 52
higher
← fewer bankruptcies
more bankruptcies →
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
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
48.4%
Return on assets
1.8%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 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 · 10 filingsDeviation from the deadline
2025
28 d late
2024
31 d late
2023
on the day
2022
34 d early
2021
32 d early
2020
29 d early
2019
20 d late
← 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
22-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€12k▼ 80.1%
2024 · €61k
2018: €32k
2019: €-9k
2020: €80k
2021: €-50k
2022: €-30k
2023: €33k
2024: €61k
2018 → 2025
Working capital
€123k▲ 0.4%
2024 · €122k
2018: €28k
2019: €-6k
2020: €122k
2021: €98k
2022: €95k
2023: €124k
2024: €122k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€254k-€224k▼ 11.8%€258k▲ 14.8%€318k▲ 23.5%€330k▲ 3.8%
Operating result€-54k-€-29k▲ 46.1%€34k€66k▲ 93.8%€16k▼ 75.0%
Net result€-50k-€-30k▲ 39.7%€33k€61k▲ 82.8%€12k▼ 80.1%
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 75% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €682k
Fixed assets
€404k▲ 106%
Current assets
€279k▲ 105%
Equity and liabilities €682k
Equity
€330k▲ 3.8%
Debt
€352k▲ 2,418%
The debt ratio rises from 4.2% to 51.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€36k▼
2024 · €75k
Cash flow
€31k▼
2024 · €69k
Solvency
48.4%▼
2024 · 95.8%
Current ratio
1.79▼
2024 · 9.74
Quick ratio
1.79▼
2024 · 9.74
Debt / equity
1.07▲
2024 · 0.04
ROE
3.7%▼
2024 · 19.0%
ROA
1.8%▼
2024 · 18.2%
Interest coverage
8.04▼
2024 · 236.32
Debt
€352k▲
2024 · €14k
Debt ≤ 1 year
€156k▲
2024 · €14k
Debt > 1 year
€196k
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€332k€682k▲
Fixed assets21/28€196k€404k▲
Tangible fixed assets22/27€196k€401k▲
Land and buildings22€196k€401k▲
Financial fixed assets28-€2k
Current assets29/58€136k€279k▲
Amounts receivable within one year40/41€66k€177k▲
Trade receivables40€8k€118k▲
Other amounts receivable41€58k€59k▲
Cash at bank and in hand54/58€68k€101k▲
Deferred charges and accrued income490/1€2k€98▼
Equity and liabilities
Total equity and liabilities10/49€332k€682k▲
Equity10/15€318k€330k▲
Contributions10/11€124k€124k=
Capital10€124k€124k=
Issued capital100€124k€124k=
Reserves13€192k€205k▲
Non-distributable reserves130/1€12k€12k=
Legal reserve130€12k€12k=
Distributable reserves133€180k€193k▲
Profit (loss) carried forward14€2k€722▼
Amounts payable17/49€14k€352k▲
Amounts payable after more than one year17-€196k
Financial debts170/4-€196k
Amounts payable within one year42/48€14k€156k▲
Current portion of amounts payable after more than one year42-€33k
Trade debts44€10k€112k▲
Suppliers440/4€10k€112k▲
Taxes, remuneration and social security45€4k€11k▲
Taxes450/3€4k€11k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€9k€19k▲
Other operating charges640/8€46k€25k▼
Gross operating margin9900€120k€61k▼
Operating profit (loss)9901€66k€16k▼
Financial income75/76B€79-
Recurring financial income75€79-
Financial charges65/66B€316€4k▲
Recurring financial charges65€316€4k▲
Profit (loss) for the period before taxes9903€66k€12k▼
Income taxes67/77€5k-
Profit (loss) for the period9904€61k€12k▼
Profit (loss) for the period to be appropriated9905€61k€12k▼
Appropriation of the result
Profit (loss) to be appropriated9906€62k€14k▼
Profit (loss) brought forward from the previous period14P€1k€2k▲
Transfer to equity691/2€60k€13k▼
To other reserves6921€60k€13k▼
The notes to these accounts (12 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
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 28 days late
2025
31-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 31 days late
2024
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Back to profitnet €33k
Net result €33k after 2 loss-making years.
31-12
Financial
Liquidity times 25current ratio 104.63
Current ratio from 4.19 to 104.63; short-term debt falls from €30k to €1k.
27-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
29-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Weakest financial yearnet €-50k ▼162%
Net result drops to €-50k, the lowest in the series; recovery starts the following year.
02-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Back to profitnet €80k
Net result €80k after one loss-making year.
31-12
Financial
Liquidity doublescurrent ratio 2.33
Current ratio from 0.94 to 2.33; short-term debt falls from €98k to €92k.
20-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 20 days late
2019
12-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
06-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
03-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
8 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, Bütgenbach · 1 establishment unit since 1998
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.
Elsenborn,Desherenborn 164750 Bütgenbach1 establishment unit
Mardem
since 19982.088.131.470
Similar companies · same sector, comparable size
Wine Logistics International
BE 0477.512.390
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GIGEMA
BE 0473.011.887
Sint-Truiden · Eq €328k
IMMOBILIERE COMMERCIALE DISONAISE
BE 0442.115.706
Dison · Eq €332k
COLLEYE IMMOBILIERE
BE 0474.617.832
Liège · Eq €333k
F.V.IMMO
BE 0662.601.654
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Of 1,030 companies in sector 52100 we hold annual accounts for 764. 509 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded03-08-1998
Fiscal year end31-12
Activities, NACEBEL
52100Warehousing and storage
63122
Sources
Crossroads Bank for EnterprisesNational Bank · 27 filings
Data from official sources, last processed on 22-09-2026. Scores and ratios are computed by Checked and are not a credit decision.