MAREBAT
Open bankruptcyFinancials · financial year 2024, full format
2024 annual accounts filed late (224 days) Filed on 12 March 2026, deadline 31 July 2025 (7 months after the close on 31 December 2024, Companies Code art. 3:10). Source: NBB, 2026-00055372.
Turnover
€30,500▼ 32.3%
2021 · €45,050
EBIT margin
-69.6%▼ 121.2pp
2021 · 51.6%
Net result
-€16,147▼ 3,622%
2023 · -€434
Working capital
-€35,180▼ 164%
2023 · -€13,334
Trend over the years
2020 to 2024, 5 financial years 2018 to 2024, 7 financial years
The operating result stays negative: a loss of €16,070 in 2024 against €278 in 2023; the loss grows.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Turnover€30,500
2022
Operating result-€16,070
2024
Net result-€16,147
2024
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€44,161
2024
Equity-€5,245
2024
Debt€49,406
2024
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€35,180
2024
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
EBIT margin-69.6%
2022
Return on assets (ROA)-36.6%
2024
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency-11.9%
2024
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.29
2024
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 41, Construction of residential and non-residential buildings: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920202021202220232024
Turnover€98,067-€30,702▼ 68.7%€27,050▼ 11.9%€45,050▲ 66.5%€30,500▼ 32.3%
Operating result-€16,378--€40,525▼ 147%-€19,461▲ 52.0%€23,229-€21,243-€278▲ 98.7%-€16,070▼ 5,682%
Net result-€14,399--€46,239▼ 221%-€13,930below the sector's middle half▲ 69.9%€22,982within the sector's middle half-€21,344below the sector's middle half-€434below the sector's middle half▲ 98.0%-€16,147below the sector's middle half▼ 3,622%
EBIT margin-16.7%--132.0%▼ 115.3pp-71.9%▲ 60.0pp51.6%▲ 123.5pp-69.6%▼ 121.2pp
Equity€70,821-€24,582▼ 65.3%€10,652below the sector's middle half▼ 56.7%€33,634below the sector's middle half▲ 216%€12,290below the sector's middle half▼ 63.5%€11,856below the sector's middle half▼ 3.5%-€5,245below the sector's middle half
Total assets€86,711-€67,796▼ 21.8%€31,992below the sector's middle half▼ 52.8%€48,402below the sector's middle half▲ 51.3%€20,262below the sector's middle half▼ 58.1%€50,893below the sector's middle half▲ 151%€44,161below the sector's middle half▼ 13.2%
Debt€15,890-€43,214▲ 172%€21,340▼ 50.6%€14,768▼ 30.8%€7,972▼ 46.0%€39,037▲ 390%€49,406▲ 26.6%
Working capital€43,498-€17,371▼ 60.1%€7,691below the sector's middle half▼ 55.7%€31,313within the sector's middle half▲ 307%€11,687below the sector's middle half▼ 62.7%-€13,334below the sector's middle half-€35,180below the sector's middle half▼ 164%
Solvency81.7%-36.3%▼ 45.4pp33.3%within the sector's middle half▼ 3.0pp69.5%above the sector's middle half▲ 36.2pp60.7%above the sector's middle half▼ 8.8pp23.3%within the sector's middle half▼ 37.4pp-11.9%below the sector's middle half▼ 35.2pp
Current ratio4.10-1.87▼ 2.231.74within the sector's middle half▼ 0.134.11above the sector's middle half▲ 2.372.47above the sector's middle half▼ 1.650.66below the sector's middle half▼ 1.810.29below the sector's middle half▼ 0.37
Return on assets (ROA)-16.6%--68.2%▼ 51.6pp-43.5%below the sector's middle half▲ 24.7pp47.5%above the sector's middle half▲ 91.0pp-105.3%below the sector's middle half▼ 152.8pp-0.9%below the sector's middle half▲ 104.5pp-36.6%below the sector's middle half▼ 35.7pp
Staff (FTE)1.2below the sector's middle half
above
within
below
the middle half of NACE 41, Construction of residential and non-residential buildings: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €44,161
Fixed assets
€29,934 ▲ 18.8%
Current assets
€14,226 ▼ 44.7%
Equity and liabilities
Equity-€5,245
Debt€49,406
Equity is negative: debt (€49,406) exceeds the balance-sheet total (€44,161).
Key figures and ratios
EBITDA
-€10,842▼
2023 · €2,928
Cash flow
-€10,919▼
2023 · €2,772
Interest coverage
-141.06▼
2023 · 18.77
Debt ≤ 1 year
€49,406▲
2023 · €39,037
Staff costs
€31,733
No debt to equity: equity is negative, so debt divided by equity means nothing.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Turnover70 | €98,067 | €30,702 | €27,050 | €45,050 | €30,500 | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €15,749 | €46,764 | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | - | - | - | €31,733 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €25,648 | €16,499 | €16,499 | €6,889 | €6,430 | €3,206 | €5,228 | ▲ 63.1% |
| Other operating charges640/8 | - | - | - | - | - | €783 | €1,629 | ▲ 108% |
| Non-recurring operating charges66A | - | - | - | - | - | €5,000 | - | - |
| Gross operating margin9900 | €9,270 | -€15,452 | -€2,962 | €30,118 | -€14,812 | €8,711 | €22,520 | ▲ 159% |
| Operating profit (loss)9901 | -€16,378 | -€40,525 | -€19,461 | €23,229 | -€21,243 | -€278 | -€16,070 | ▼ 5,682% |
| Recurring financial income75 | €24 | - | - | - | - | - | - | - |
| Financial charges65/66B | - | - | - | €247 | €101 | €156 | €77 | ▼ 50.7% |
| Recurring financial charges65 | €607 | €855 | €326 | €247 | €101 | €156 | €77 | ▼ 50.7% |
| Profit (loss) for the period before taxes9903 | -€16,960 | -€41,380 | -€19,787 | €22,982 | -€21,344 | -€434 | -€16,147 | ▼ 3,622% |
| Income taxes67/77 | -€2,561 | €4,859 | -€5,857 | - | - | - | - | - |
| Profit (loss) for the period9904 | -€14,399 | -€46,239 | -€13,930 | €22,982 | -€21,344 | -€434 | -€16,147 | ▼ 3,622% |
| Profit (loss) for the period to be appropriated9905 | -€14,399 | -€46,239 | -€13,930 | €22,982 | -€21,344 | -€434 | -€16,147 | ▼ 3,622% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €86,711 | €67,796 | €31,992 | €48,402 | €20,262 | €50,893 | €44,161 | ▼ 13.2% |
| Fixed assets21/28 | €29,175 | €30,421 | €13,922 | €7,033 | €603 | €25,190 | €29,934 | ▲ 18.8% |
| Intangible fixed assets21 | - | - | - | - | - | €12,150 | €10,800 | ▼ 11.1% |
| Tangible fixed assets22/27 | €28,572 | €29,818 | €13,319 | €6,430 | - | €9,437 | €14,952 | ▲ 58.4% |
| Plant, machinery and equipment23 | - | - | - | - | - | €1,469 | €2,502 | ▲ 70.3% |
| Furniture and vehicles24 | - | - | - | - | - | €7,968 | €12,450 | ▲ 56.3% |
| Leasing and similar rights25 | - | - | - | €6,430 | - | - | - | - |
| Financial fixed assets28 | €603 | €603 | €603 | €603 | €603 | €3,603 | €4,183 | ▲ 16.1% |
| Current assets29/58 | €57,536 | €37,375 | €18,070 | €41,368 | €19,659 | €25,703 | €14,226 | ▼ 44.7% |
| Amounts receivable within one year40/41 | €16,272 | €31,145 | €1,488 | €35,207 | €19,356 | €13,346 | €5,677 | ▼ 57.5% |
| Trade receivables40 | - | - | - | €25,000 | €18,000 | €9,659 | €391 | ▼ 96.0% |
| Other amounts receivable41 | - | - | - | €10,207 | €1,356 | €3,687 | €5,286 | ▲ 43.4% |
| Cash at bank and in hand54/58 | €41,264 | €6,230 | €16,582 | €6,162 | €302 | €12,357 | €8,550 | ▼ 30.8% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €86,711 | €67,796 | €31,992 | €48,402 | €20,262 | €50,893 | €44,161 | ▼ 13.2% |
| Equity10/15 | €70,821 | €24,582 | €10,652 | €33,634 | €12,290 | €11,856 | -€5,245 | - |
| Contributions10/11 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Capital10 | - | - | - | €18,592 | €18,592 | - | - | - |
| Issued capital100 | - | - | - | €18,592 | €18,592 | - | - | - |
| Contributions outside capital11 | - | - | - | - | - | €18,592 | €18,592 | = |
| Other1109/19 | - | - | - | - | - | €18,592 | €18,592 | = |
| Reserves13 | €4,667 | €4,667 | €4,667 | €4,667 | €4,667 | €4,667 | €4,667 | = |
| Non-distributable reserves130/1 | - | - | - | €1,859 | €1,859 | - | - | - |
| Legal reserve130 | - | - | - | €1,859 | €1,859 | - | - | - |
| Distributable reserves133 | - | - | - | €2,807 | €2,807 | €4,667 | €4,667 | = |
| Profit (loss) carried forward14 | €47,562 | €1,323 | -€12,607 | €10,375 | -€10,969 | -€11,403 | -€28,504 | ▼ 150% |
| Amounts payable17/49 | €15,890 | €43,214 | €21,340 | €14,768 | €7,972 | €39,037 | €49,406 | ▲ 26.6% |
| Amounts payable after more than one year17 | €1,852 | €23,210 | €10,961 | €4,713 | - | - | - | - |
| Other amounts payable178/9 | - | - | - | €4,713 | - | - | - | - |
| Amounts payable within one year42/48 | €14,038 | €20,004 | €10,379 | €10,055 | €7,972 | €39,037 | €49,406 | ▲ 26.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | €6,249 | €4,713 | €1,020 | €1,020 | = |
| Trade debts44 | €281 | €6,962 | €662 | €1,251 | €1,445 | €3,019 | €8,830 | ▲ 192% |
| Suppliers440/4 | - | - | - | €1,251 | €1,445 | €3,019 | €8,830 | ▲ 192% |
| Taxes, remuneration and social security45 | - | - | - | - | - | - | €459 | - |
| Taxes450/3 | - | - | - | - | - | - | €459 | - |
| Other amounts payable47/48 | - | - | - | €2,556 | €1,814 | €34,998 | €39,098 | ▲ 11.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€14,399 | -€46,239 | -€13,930 | €22,982 | -€21,344 | -€434 | -€16,147 | ▼ 3,622% |
| + Depreciation and write-downs630 | €25,648 | €16,499 | €16,499 | €6,889 | €6,430 | €3,206 | €5,228 | ▲ 63.1% |
| Operating cash flow (approximation) | €11,249 | -€29,740 | €2,569 | €29,871 | -€14,914 | €2,772 | -€10,919 | - |
| Investment in fixed assets (approximation) | - | -€17,745 | €0 | €0 | €0 | -€27,793 | -€9,973 | ▲ 64.1% |
| Change in cash | - | -€35,034 | €10,352 | -€10,421 | -€5,859 | €12,055 | -€3,808 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 33 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2024 | full format | 12-03-2026 | 2026-00055372 |
| 31-12-2023 | full format | 21-05-2024 | 2024-00096216 |
| 31-12-2022 | full format | 22-05-2023 | 2023-00099865 |
| 31-12-2021 | full format | 14-07-2022 | 2022-20183559 |
| 31-12-2020 | full format | 16-08-2021 | 2021-49500479 |
| 31-12-2019 | full format | 24-08-2020 | 2020-44000488 |
| 31-12-2018 | full format | 07-08-2019 | 2019-44300318 |
| 31-12-2017 | full format | 02-07-2018 | 2018-27800062 |
| 31-12-2016 | full format | 23-09-2017 | 2017-62900020 |
| 31-12-2015 | full format | 27-09-2016 | 2016-63700010 |
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of the 29,223 active companies whose main activity is general construction of residential buildings (NACE 41001), figures are known for 16,389. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.