MARDER
InactiveMARDER was declared bankrupt on 09-12-2024 (Tribunal de l’entreprise de Liège, division Liège); the bankruptcy was closed for insufficient assets by judgment of 02-09-2025, published in the Belgian State Gazette on 05-09-2025.
Summary
Inactive; last annual accounts for fiscal year 2023.
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-12-2024, 2 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 10 filingsPosition against the passed deadline
31-12-2024 close31-07-2025 deadline26-09-2026 today
neutral · Filed after the deadline
The financial year that closed on 31-12-2023 was due by 31-07-2024 and was filed on 29-08-2024, 29 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
not confirmed
2024
not filed
2023
29 d late
2022
25 d late
2021
31 d late
2020
72 d late
2019
92 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 5 accounts on average 50 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
History
Financials · fiscal year 2023, micro schema
Turnover
€0▼ 100%
2021 · €29,789
EBIT margin
62.4%▲ 22.3pp
2019 · 40.1%
Net result
-€651▲ 98.8%
2022 · -€56,204
Working capital
-€299,583▼ 0.2%
2022 · -€298,932
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20192020202120222023
Turnover€52,769€29,789€0
Operating result€21,179▲ 18.5%-€10,957€18,587€28,345▲ 52.5%-€11,499
Net result€11,148▲ 27.2%-€11,998-€457,707▼ 3,715%-€56,204▲ 87.7%-€651▲ 98.8%
EBIT margin40.1%62.4%
Equity€226,978▲ 5.2%€214,980▼ 5.3%-€242,728-€298,932▼ 23.2%-€299,583▼ 0.2%
Total assets€292,097▲ 0.8%€276,881▼ 5.2%€320,609▲ 15.8%€333,874▲ 4.1%€299,216▼ 10.4%
Debt€65,119▼ 11.8%€61,901▼ 4.9%€563,337▲ 810%€632,806▲ 12.3%€598,799▼ 5.4%
Working capital€226,724▲ 6.2%€214,980▼ 5.2%-€242,689-€298,932▼ 23.2%-€299,583▼ 0.2%
Staff (FTE)0.8▼ 27.3%1.5▲ 87.5%1.8▲ 20.0%3.1▲ 72.2%3.5▲ 12.9%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2023: a loss of €11,499 after €28,345 in 2022, the lowest result in the available series.
Key figures and ratios
Solvency
-100.1%▼
2022 · -89.5%
Current ratio
0.50▼
2022 · 0.53
Quick ratio
0.50▼
2022 · 0.53
Debt to equity
-2.00▲
2022 · -2.12
ROA
-0.2%▲
2022 · -16.8%
Debt ≤ 1 year
€598,799▼
2022 · €632,806
Staff costs
€38,637▼
2022 · €65,146
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €52,769 | - | €29,789 | - | €0 | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | €169,359 | - | €0 | - |
| Remuneration, social security and pensions62 | - | - | €20,675 | €65,146 | €38,637 | ▼ 40.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,108 | €497 | - | - | - | - |
| Other operating charges640/8 | - | - | €1,143 | €1,754 | €1,655 | ▼ 5.6% |
| Non-recurring operating charges66A | - | - | - | €1,957 | - | - |
| Gross operating margin9900 | €63,319 | €22,130 | €40,405 | €97,202 | €28,793 | ▼ 70.4% |
| Operating profit (loss)9901 | €21,179 | -€10,957 | €18,587 | €28,345 | -€11,499 | ▼ 141% |
| Financial income75/76B | - | - | €5 | €195 | €12,000 | ▲ 6,061% |
| Recurring financial income75 | €491 | €2,109 | €5 | €195 | €12,000 | ▲ 6,061% |
| Financial charges65/66B | - | - | €116,499 | €84,445 | €1,152 | ▼ 98.6% |
| Recurring financial charges65 | €4,092 | €3,151 | €116,499 | €84,445 | €1,152 | ▼ 98.6% |
| Profit (loss) for the period before taxes9903 | €16,527 | -€11,998 | -€97,907 | -€55,905 | -€651 | ▲ 98.8% |
| Income taxes67/77 | €5,379 | - | €359,801 | €299 | - | - |
| Profit (loss) for the period9904 | €11,148 | -€11,998 | -€457,707 | -€56,204 | -€651 | ▲ 98.8% |
| Profit (loss) for the period to be appropriated9905 | €11,148 | -€11,998 | -€457,707 | -€56,204 | -€651 | ▲ 98.8% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €292,097 | €276,881 | €320,609 | €333,874 | €299,216 | ▼ 10.4% |
| Fixed assets21/28 | €497 | €0 | €0 | €0 | €0 | - |
| Intangible fixed assets21 | €0 | - | €0 | €0 | €0 | - |
| Tangible fixed assets22/27 | €497 | €0 | €0 | €0 | €0 | - |
| Plant, machinery and equipment23 | - | - | €0 | €0 | €0 | - |
| Furniture and vehicles24 | - | - | €0 | €0 | €0 | - |
| Other tangible fixed assets26 | - | - | €0 | €0 | €0 | - |
| Current assets29/58 | €291,600 | €276,881 | €320,609 | €333,874 | €299,216 | ▼ 10.4% |
| Stocks and contracts in progress3 | €1,270 | €376 | €866 | €796 | €796 | = |
| Stocks30/36 | - | - | €866 | €796 | €796 | = |
| Amounts receivable within one year40/41 | €273,703 | €252,274 | €275,875 | €295,038 | €261,741 | ▼ 11.3% |
| Trade receivables40 | - | - | €24,116 | €43,570 | €25,272 | ▼ 42.0% |
| Other amounts receivable41 | - | - | €251,759 | €251,469 | €236,469 | ▼ 6.0% |
| Cash at bank and in hand54/58 | €16,352 | €24,231 | €42,898 | €38,039 | €36,679 | ▼ 3.6% |
| Deferred charges and accrued income490/1 | - | - | €970 | €0 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €292,097 | €276,881 | €320,609 | €333,874 | €299,216 | ▼ 10.4% |
| Equity10/15 | €226,978 | €214,980 | -€242,728 | -€298,932 | -€299,583 | ▼ 0.2% |
| Contributions10/11 | €18,592 | - | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €98,548 | €98,548 | €98,548 | €98,548 | €98,548 | = |
| Non-distributable reserves130/1 | - | - | €1,859 | €1,859 | €1,859 | = |
| Reserves not available under the articles1311 | - | - | €1,859 | €1,859 | €1,859 | = |
| Distributable reserves133 | - | - | €96,688 | €96,688 | €96,688 | = |
| Profit (loss) carried forward14 | €109,838 | €97,840 | -€359,867 | -€416,071 | -€416,722 | ▼ 0.2% |
| Amounts payable17/49 | €65,119 | €61,901 | €563,337 | €632,806 | €598,799 | ▼ 5.4% |
| Amounts payable within one year42/48 | €64,876 | €61,901 | €563,298 | €632,806 | €598,799 | ▼ 5.4% |
| Trade debts44 | €3,960 | €17,202 | €43,700 | €11,160 | €12,503 | ▲ 12.0% |
| Suppliers440/4 | - | - | €43,700 | €11,160 | €12,503 | ▲ 12.0% |
| Taxes, remuneration and social security45 | - | - | €519,366 | €621,155 | €585,805 | ▼ 5.7% |
| Taxes450/3 | - | - | €510,679 | €597,851 | €585,805 | ▼ 2.0% |
| Remuneration and social security454/9 | - | - | €8,687 | €23,303 | €0 | ▼ 100% |
| Other amounts payable47/48 | - | - | €232 | €491 | €491 | = |
| Accrued charges and deferred income492/3 | - | - | €39 | €0 | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11,148 | -€11,998 | -€457,707 | -€56,204 | -€651 | ▲ 98.8% |
| + Depreciation and write-downs630 | €2,108 | €497 | - | - | - | - |
| Operating cash flow (approximation) | €13,256 | -€11,502 | -€457,707 | -€56,204 | -€651 | ▲ 98.8% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €7,879 | €18,667 | -€4,859 | -€1,360 | ▲ 72.0% |
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
05-09
Bankruptcy
Bankruptcy closure (insufficient assets)
Tribunal de l’entreprise de Liège, division Liège · event 02-09-2025
2024
13-12
Bankruptcy
Opening
Tribunal de l’entreprise de Liège, division Liège · event 09-12-2024
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
25-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 25 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
31-12
Financial
Weakest financial yearnet -€457,707
Net result drops to -€457,707, the lowest in the series.
11-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 72 days late
2020
31-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 92 days late
2019
31-12
Financial
Highest result since 2018net €11,148 ▲27.2%
Net result €11,148, the highest in the series.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
18-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 322 days late
07-03
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 584 days late
2016
30-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 30 days late
2015
03-08
NBB filing
Annual accounts filed
fiscal year 2014 · full schema · 3 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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
Insolvency mandates
2 mandates| Role | Name | Tenure |
|---|---|---|
| Curator | MURIELLE DELFORGE CLOS DU SARTAY 11,
4053 EMBOURG |
09-12-2024 → 02-09-2025 |
| Curator | VALERIE THIRION CLOS
DU SARTAY 11, 4053 EMBOURG |
09-12-2024 → 02-09-2025 |