Summary
MARECHAL B. is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €343,424 and a net result of €33,190. Equity is shrinking by about 11% per year across the filed financial years. Its solvency ranks better than 51% of 3,016 sector peers (NACE 64, financial year 2025). The company has been active since 1995 and the Belgian Official Gazette contains no insolvency or warning signals.
Financials · financial year 2025, full format
In the rankings
#4 oldest company in Blegny, Finance and insurance sector#8 company by equity in Blegny, Finance and insurance sector
Equity
€343,424▲ 9.7%
2024 · €313,093
Net result
€33,190▼ 13.5%
2024 · €38,351
Total assets
€554,293▼ 0.7%
2024 · €558,385
Solvency
62.0%▲ 5.9pp
2024 · 56.1%
Trend over the years
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result has fallen two years in a row; 2025 is 2% below 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€46,505
2025
Net result€33,190
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€554,293
2025
Equity€343,424
2025
Debt€210,869
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€143,582
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)6.0%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency62.0%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.25
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)0
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 64, Financial service activities, except insurance and pension funding: 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), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€37,112-€1,010▼ 97.3%€10,441▲ 934%€37,079▲ 255%€175,262▲ 373%€47,397▼ 73.0%€46,505▼ 1.9%
Net result€23,285--€721within the sector's middle half€3,539within the sector's middle half€27,355within the sector's middle half▲ 673%€109,131within the sector's middle half▲ 299%€38,351within the sector's middle half▼ 64.9%€33,190within the sector's middle half▼ 13.5%
Equity€734,235-€517,790within the sector's middle half▼ 29.5%€420,929below the sector's middle half▼ 18.7%€375,558below the sector's middle half▼ 10.8%€482,439below the sector's middle half▲ 28.5%€313,093below the sector's middle half▼ 35.1%€343,424below the sector's middle half▲ 9.7%
Total assets€800,687-€809,175below the sector's middle half▲ 1.1%€751,460below the sector's middle half▼ 7.1%€699,552below the sector's middle half▼ 6.9%€713,590below the sector's middle half▲ 2.0%€558,385below the sector's middle half▼ 21.7%€554,293below the sector's middle half▼ 0.7%
Debt€63,686-€233,327▲ 266%€273,081▲ 17.0%€302,994▲ 11.0%€231,150▼ 23.7%€245,293▲ 6.1%€210,869▼ 14.0%
Working capital€80,384--€57,799within the sector's middle half-€98,105within the sector's middle half▼ 69.7%-€133,194within the sector's middle half▼ 35.8%€28,723within the sector's middle half-€129,617within the sector's middle half-€143,582within the sector's middle half▼ 10.8%
Solvency91.7%-64.0%within the sector's middle half▼ 27.7pp56.0%within the sector's middle half▼ 8.0pp53.7%within the sector's middle half▼ 2.3pp67.6%within the sector's middle half▲ 13.9pp56.1%within the sector's middle half▼ 11.5pp62.0%within the sector's middle half▲ 5.9pp
Current ratio5.44-0.71within the sector's middle half▼ 4.730.62within the sector's middle half▼ 0.100.51within the sector's middle half▼ 0.111.14within the sector's middle half▲ 0.630.43within the sector's middle half▼ 0.710.25below the sector's middle half▼ 0.18
Return on assets (ROA)2.9%--0.1%within the sector's middle half▼ 3.0pp0.5%within the sector's middle half▲ 0.6pp3.9%within the sector's middle half▲ 3.4pp15.3%above the sector's middle half▲ 11.4pp6.9%within the sector's middle half▼ 8.4pp6.0%within the sector's middle half▼ 0.9pp
Staff (FTE)0below the sector's middle half0below the sector's middle half
above
within
below
the middle half of NACE 64, Financial service activities, except insurance and pension funding: 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.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €554,293
Fixed assets
€507,359 ▲ 10.2%
Current assets
€46,933 ▼ 52.0%
Equity and liabilities €554,293
Equity
€343,424 ▲ 9.7%
Debt
€210,869 ▼ 14.0%
Debt's share of the balance-sheet total falls from 43.9% to 38.0%. Equity is higher and debt is lower.
Key figures and ratios
ROE
9.7%▼
2024 · 12.2%
Debt ≤ 1 year
€190,515▼
2024 · €227,493
Debt > 1 year
€8,680▲
2024 · €7,140
Income taxes
€11,056▲
2024 · €9,304
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 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €1,200 | - | €118,450 | €2,013 | €13,334 | ▲ 562% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €41,312 | €40,602 | €39,534 | €31,009 | €20,418 | €19,815 | €29,545 | ▲ 49.1% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | €500 | -€21,250 | -€21,000 | €0 | - | - |
| Other operating charges640/8 | - | - | €7,556 | €9,055 | €10,343 | €10,906 | €9,281 | ▼ 14.9% |
| Non-recurring operating charges66A | - | - | €34,964 | €9,248 | - | €3,201 | €12,285 | ▲ 284% |
| Gross operating margin9900 | €85,006 | €105,418 | €92,995 | €65,142 | €185,023 | €81,319 | €97,617 | ▲ 20.0% |
| Operating profit (loss)9901 | €37,112 | €1,010 | €10,441 | €37,079 | €175,262 | €47,397 | €46,505 | ▼ 1.9% |
| Financial income75/76B | - | - | €7 | - | €8 | €2,589 | €178 | ▼ 93.1% |
| Recurring financial income75 | - | €491 | €7 | - | €8 | €2,589 | €178 | ▼ 93.1% |
| Financial charges65/66B | - | - | €3,550 | €3,604 | €3,910 | €2,330 | €2,437 | ▲ 4.6% |
| Recurring financial charges65 | €4,219 | €1,237 | €3,550 | €3,604 | €3,910 | €2,330 | €2,437 | ▲ 4.6% |
| Profit (loss) for the period before taxes9903 | €32,893 | €264 | €6,899 | €33,475 | €171,360 | €47,656 | €44,246 | ▼ 7.2% |
| Transfer from deferred taxes780 | - | - | €1,108 | - | - | - | - | - |
| Income taxes67/77 | €10,991 | €2,368 | €4,467 | €6,119 | €62,229 | €9,304 | €11,056 | ▲ 18.8% |
| Profit (loss) for the period9904 | €23,285 | -€721 | €3,539 | €27,355 | €109,131 | €38,351 | €33,190 | ▼ 13.5% |
| Transfer from tax-exempt reserves789 | - | - | €4,430 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €27,439 | €3,434 | €7,970 | €27,355 | €109,131 | €38,351 | €33,190 | ▼ 13.5% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €800,687 | €809,175 | €751,460 | €699,552 | €713,590 | €558,385 | €554,293 | ▼ 0.7% |
| Fixed assets21/28 | €702,217 | €665,491 | €593,032 | €562,602 | €476,410 | €460,510 | €507,359 | ▲ 10.2% |
| Tangible fixed assets22/27 | €479,051 | €442,325 | €369,866 | €339,436 | €253,244 | €237,343 | €284,193 | ▲ 19.7% |
| Land and buildings22 | - | - | €369,560 | €338,770 | €252,847 | €233,148 | €284,193 | ▲ 21.9% |
| Plant, machinery and equipment23 | - | - | €306 | €666 | €397 | €281 | €0 | ▼ 100% |
| Assets under construction and advance payments27 | - | - | - | - | - | €3,914 | €0 | ▼ 100% |
| Financial fixed assets28 | €223,166 | €223,166 | €223,166 | €223,166 | €223,166 | €223,166 | €223,166 | = |
| Current assets29/58 | €98,470 | €143,683 | €158,428 | €136,950 | €237,180 | €97,876 | €46,933 | ▼ 52.0% |
| Amounts receivable within one year40/41 | €69,913 | €58,877 | €72,099 | €71,547 | €11,695 | €4,699 | €4,609 | ▼ 1.9% |
| Trade receivables40 | - | - | €23,701 | €19,538 | €3,799 | €3,364 | €4,609 | ▲ 37.0% |
| Other amounts receivable41 | - | - | €48,398 | €52,010 | €7,896 | €1,335 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €25,986 | €82,721 | €85,440 | €64,003 | €222,598 | €90,970 | €38,352 | ▼ 57.8% |
| Deferred charges and accrued income490/1 | - | - | €889 | €1,399 | €2,887 | €2,207 | €3,972 | ▲ 80.0% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €800,687 | €809,175 | €751,460 | €699,552 | €713,590 | €558,385 | €554,293 | ▼ 0.7% |
| Equity10/15 | €734,235 | €517,790 | €420,929 | €375,558 | €482,439 | €313,093 | €343,424 | ▲ 9.7% |
| Contributions10/11 | €234,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €499,635 | €499,190 | €402,329 | €356,958 | €463,839 | €186,191 | €219,381 | ▲ 17.8% |
| Non-distributable reserves130/1 | - | - | €1,400 | €1,400 | €1,400 | €1,400 | €1,400 | = |
| Reserves not available under the articles1311 | - | - | €1,400 | €1,400 | €1,400 | €1,400 | €1,400 | = |
| Distributable reserves133 | - | - | €400,929 | €355,558 | €462,439 | €184,791 | €217,981 | ▲ 18.0% |
| Profit (loss) carried forward14 | - | - | - | - | - | €108,301 | €105,442 | ▼ 2.6% |
| Provisions and deferred taxes16 | €2,767 | €58,058 | €57,450 | €21,000 | - | - | - | - |
| Provisions for liabilities and charges160/5 | - | - | €57,450 | €21,000 | - | - | - | - |
| Other liabilities and charges164/5 | - | - | €57,450 | €21,000 | - | - | - | - |
| Amounts payable17/49 | €63,686 | €233,327 | €273,081 | €302,994 | €231,150 | €245,293 | €210,869 | ▼ 14.0% |
| Amounts payable after more than one year17 | €35,280 | €19,900 | €4,660 | €5,720 | €7,370 | €7,140 | €8,680 | ▲ 21.6% |
| Other amounts payable178/9 | - | - | €4,660 | €5,720 | €7,370 | €7,140 | €8,680 | ▲ 21.6% |
| Amounts payable within one year42/48 | €18,086 | €201,483 | €256,533 | €270,143 | €208,457 | €227,493 | €190,515 | ▼ 16.3% |
| Trade debts44 | €8,964 | €9,873 | €2,581 | €4,698 | €2,849 | €7,006 | €9,299 | ▲ 32.7% |
| Suppliers440/4 | - | - | €2,581 | €4,698 | €2,849 | €7,006 | €9,299 | ▲ 32.7% |
| Taxes, remuneration and social security45 | - | - | €11,472 | €7,159 | €7,341 | €4,934 | €13,662 | ▲ 177% |
| Taxes450/3 | - | - | €9,142 | €2,444 | €4,765 | €2,347 | €8,291 | ▲ 253% |
| Remuneration and social security454/9 | - | - | €2,330 | €4,716 | €2,576 | €2,587 | €5,371 | ▲ 108% |
| Other amounts payable47/48 | - | - | €242,480 | €258,286 | €198,267 | €215,553 | €167,554 | ▼ 22.3% |
| Accrued charges and deferred income492/3 | - | - | €11,888 | €27,130 | €15,324 | €10,660 | €11,674 | ▲ 9.5% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €23,285 | -€721 | €3,539 | €27,355 | €109,131 | €38,351 | €33,190 | ▼ 13.5% |
| + Depreciation and write-downs630 | €41,312 | €40,602 | €39,534 | €31,009 | €20,418 | €19,815 | €29,545 | ▲ 49.1% |
| Operating cash flow (approximation) | €64,597 | €39,881 | €43,073 | €58,365 | €129,549 | €58,166 | €62,735 | ▲ 7.9% |
| Investment in fixed assets (approximation) | - | -€3,876 | €32,925 | -€579 | €65,774 | -€3,914 | -€76,395 | ▼ 1,852% |
| Change in cash | - | €56,735 | €2,719 | -€21,436 | €158,594 | -€131,627 | -€52,619 | ▲ 60.0% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 30 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 30-09-2025 | full format | 28-04-2026 | 2026-00090003 |
| 30-09-2024 | full format | 30-04-2025 | 2025-00082179 |
| 30-09-2023 | full format | 23-04-2024 | 2024-00066671 |
| 30-09-2022 | full format | 28-04-2023 | 2023-00070614 |
| 30-09-2021 | full format | 28-04-2022 | 2022-20011173 |
| 30-09-2020 | full format | 30-04-2021 | 2021-12900564 |
| 30-09-2019 | full format | 07-04-2020 | 2020-08600399 |
| 30-09-2018 | full format | 29-03-2019 | 2019-08700517 |
| 30-09-2017 | full format | 16-03-2018 | 2018-06900064 |
| 30-09-2016 | full format | 14-03-2017 | 2017-06200026 |
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Of the 24,457 active companies whose main activity is activities of holding companies (NACE 64210), figures are known for 20,067. 13,924 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.