MARECHAL NV
ActiveSummary
MARECHAL NV has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €803k and a net result of €73k. Equity remains stable across the filed fiscal years (±1.8% per year). Its solvency ranks better than 95% of 9234 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability80▲+8
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €65k at 30 days acceptable
Liquidity ample (current ratio 14.45 against 10.0 in 2024; short-term debt: 3.6% and cash: 17.4% of total assets), and 3.9% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← 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
96.1%
Return on assets
8.7%
Age of the figures
9 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €803k
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 02-04-2026, 120 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
120 d early
2024
156 d early
2023
123 d early
2022
163 d early
2021
124 d early
2020
136 d early
2019
137 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€803k▲ 10.0%
2024 · €730k
2018: €690k
2019: €673k▼ -2.5% vs 2018lowest in 8 years
2020: €717k▲ +6.5% vs 2019
2021: €682k▼ -4.9% vs 2020
2022: €684k▲ +0.3% vs 2021
2023: €710k▲ +3.8% vs 2022
2024: €730k▲ +2.9% vs 2023
2025: €803k▲ +10.0% vs 2024highest in 8 years
2018 → 2025
Total assets
€836k▲ 8.7%
2024 · €769k
2018: €835k
2019: €822k▼ -1.5% vs 2018
2020: €868k▲ +5.6% vs 2019highest in 8 years
2021: €837k▼ -3.6% vs 2020
2022: €715k▼ -14.6% vs 2021lowest in 8 years
2023: €740k▲ +3.5% vs 2022
2024: €769k▲ +3.9% vs 2023
2025: €836k▲ +8.7% vs 2024
2018 → 2025
Net result
€73k▲ 257%
2024 · €20k
2018: €15k
2019: €-17k▼ -219% vs 2018
2020: €44k▲ +353% vs 2019
2021: €-35k▼ -181% vs 2020lowest in 8 years
2022: €2k▲ +106% vs 2021
2023: €26k▲ +1090% vs 2022
2024: €20k▼ -22.1% vs 2023
2025: €73k▲ +257% vs 2024highest in 8 years
2018 → 2025
Working capital
€410k▲ 27.0%
2024 · €323k
2018: €704k
2019: €681k▼ -3.4% vs 2018
2020: €723k▲ +6.2% vs 2019highest in 8 years
2021: €231k▼ -68.1% vs 2020lowest in 8 years
2022: €244k▲ +5.8% vs 2021
2023: €286k▲ +17.4% vs 2022
2024: €323k▲ +12.7% vs 2023
2025: €410k▲ +27.0% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€682k-€684k▲ 0.3%€710k▲ 3.8%€730k▲ 2.9%€803k▲ 10.0%
2021: €682klowest in 5 years
2022: €684k▲ +0.3% vs 2021
2023: €710k▲ +3.8% vs 2022
2024: €730k▲ +2.9% vs 2023
2025: €803k▲ +10.0% vs 2024highest in 5 years
Operating result€-33k-€10k€12k▲ 18.4%€17k▲ 41.1%€13k▼ 23.4%
2021: €-33klowest in 5 years
2022: €10k▲ +130% vs 2021
2023: €12k▲ +18.4% vs 2022
2024: €17k▲ +41.1% vs 2023highest in 5 years
2025: €13k▼ -23.4% vs 2024
Net result€-35k-€2k€26k▲ 1,090%€20k▼ 22.1%€73k▲ 257%
2021: €-35klowest in 5 years
2022: €2k▲ +106% vs 2021
2023: €26k▲ +1090% vs 2022
2024: €20k▼ -22.1% vs 2023
2025: €73k▲ +257% vs 2024highest in 5 years
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 23% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €836k
Fixed assets
€395k ▼ 3.6%
Current assets
€440k ▲ 22.8%
Equity and liabilities €836k
Equity
€803k ▲ 10.0%
Debt
€33k ▼ 14.6%
Debt's share of the balance-sheet total falls from 5.0% to 3.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€27k▼
2024 · €31k
Cash flow
€88k▲
2024 · €35k
Current ratio
14.45▲
2024 · 10.00
Debt to equity
0.04▼
2024 · 0.05
ROE
9.1%▲
2024 · 2.8%
ROA
8.7%▲
2024 · 2.7%
Interest coverage
15.60▲
2024 · 11.28
Debt ≤ 1 year
€30k▼
2024 · €36k
Income taxes
€7k▲
2024 · €2k
Staff costs
€96k▼
2024 · €115k
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 · 2025 against 2024 · 46 lines
Balance sheet
Code20242025
Assets
Total assets20/58€769k€836k▲
Fixed assets21/28€410k€395k▼
Tangible fixed assets22/27€410k€395k▼
Land and buildings22€410k€395k▼
Current assets29/58€359k€440k▲
Amounts receivable within one year40/41€510€0▼
Trade receivables40€0-
Other amounts receivable41€510€0▼
Current investments50/53€220k€291k▲
Cash at bank and in hand54/58€135k€145k▲
Deferred charges and accrued income490/1€3k€4k▲
Equity and liabilities
Total equity and liabilities10/49€769k€836k▲
Equity10/15€730k€803k▲
Contributions10/11€178k€178k=
Capital10€178k€178k=
Issued capital100€178k€178k=
Reserves13€552k€624k▲
Non-distributable reserves130/1€18k€18k=
Legal reserve130€18k€18k=
Distributable reserves133€534k€607k▲
Amounts payable17/49€38k€33k▼
Amounts payable within one year42/48€36k€30k▼
Trade debts44€3k€440▼
Suppliers440/4€3k€440▼
Taxes, remuneration and social security45€9k€6k▼
Taxes450/3€9k€6k▼
Remuneration and social security454/9€0-
Other amounts payable47/48€24k€24k=
Accrued charges and deferred income492/3€2k€2k▼
Income statement
Code20242025
Remuneration, social security and pensions62€115k€96k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€15k€15k=
Other operating charges640/8€3k€4k▲
Gross operating margin9900€150k€127k▼
Operating profit (loss)9901€17k€13k▼
Financial income75/76B€9k€69k▲
Recurring financial income75€9k€69k▲
Financial charges65/66B€3k€2k▼
Recurring financial charges65€3k€2k▼
Profit (loss) for the period before taxes9903€22k€80k▲
Income taxes67/77€2k€7k▲
Profit (loss) for the period9904€20k€73k▲
Profit (loss) for the period to be appropriated9905€20k€73k▲
Appropriation of the result
Profit (loss) to be appropriated9906€20k€73k▲
Transfer to equity691/2€20k€73k▲
To other reserves6921€20k€73k▲
Social balance
Average headcount (FTE)90872.71.8▼
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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €52k | €115k | €96k | ▼ 16.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €62k | €15k | €15k | €15k | €15k | = |
| Other operating charges640/8 | - | €3k | €4k | €3k | €4k | ▲ 2.9% |
| Gross operating margin9900 | €32k | €28k | €83k | €150k | €127k | ▼ 15.2% |
| Operating profit (loss)9901 | €-33k | €10k | €12k | €17k | €13k | ▼ 23.4% |
| Financial income75/76B | - | €8k | €7k | €9k | €69k | ▲ 700% |
| Recurring financial income75 | €4k | €8k | €7k | €9k | €69k | ▲ 700% |
| Financial charges65/66B | - | €15k | €-10k | €3k | €2k | ▼ 36.6% |
| Recurring financial charges65 | €6k | €15k | €-10k | €3k | €2k | ▼ 36.6% |
| Profit (loss) for the period before taxes9903 | €-35k | €2k | €29k | €22k | €80k | ▲ 257% |
| Income taxes67/77 | - | - | €3k | €2k | €7k | ▲ 261% |
| Profit (loss) for the period9904 | €-35k | €2k | €26k | €20k | €73k | ▲ 257% |
| Profit (loss) for the period to be appropriated9905 | €-35k | €2k | €26k | €20k | €73k | ▲ 257% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €837k | €715k | €740k | €769k | €836k | ▲ 8.7% |
| Fixed assets21/28 | €457k | €442k | €425k | €410k | €395k | ▼ 3.6% |
| Tangible fixed assets22/27 | €454k | €440k | €425k | €410k | €395k | ▼ 3.6% |
| Land and buildings22 | - | €440k | €425k | €410k | €395k | ▼ 3.6% |
| Financial fixed assets28 | €3k | €3k | €0 | - | - | - |
| Current assets29/58 | €380k | €273k | €315k | €359k | €440k | ▲ 22.8% |
| Stocks and contracts in progress3 | €0 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €9k | €11k | €9k | €510 | €0 | ▼ 100% |
| Trade receivables40 | - | - | €9k | €0 | - | - |
| Other amounts receivable41 | - | €11k | €0 | €510 | €0 | ▼ 100% |
| Current investments50/53 | €97k | €208k | €220k | €220k | €291k | ▲ 32.1% |
| Cash at bank and in hand54/58 | €275k | €54k | €86k | €135k | €145k | ▲ 7.4% |
| Deferred charges and accrued income490/1 | - | - | - | €3k | €4k | ▲ 68.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €837k | €715k | €740k | €769k | €836k | ▲ 8.7% |
| Equity10/15 | €682k | €684k | €710k | €730k | €803k | ▲ 10.0% |
| Contributions10/11 | €178k | €178k | €178k | €178k | €178k | = |
| Capital10 | - | €178k | €178k | €178k | €178k | = |
| Issued capital100 | - | €178k | €178k | €178k | €178k | = |
| Reserves13 | €503k | €505k | €531k | €552k | €624k | ▲ 13.2% |
| Non-distributable reserves130/1 | - | €18k | €18k | €18k | €18k | = |
| Legal reserve130 | - | €18k | €18k | €18k | €18k | = |
| Distributable reserves133 | - | €487k | €514k | €534k | €607k | ▲ 13.6% |
| Amounts payable17/49 | €155k | €31k | €30k | €38k | €33k | ▼ 14.6% |
| Amounts payable within one year42/48 | €149k | €29k | €29k | €36k | €30k | ▼ 15.0% |
| Trade debts44 | €0 | €125 | €4k | €3k | €440 | ▼ 84.8% |
| Suppliers440/4 | - | €125 | €4k | €3k | €440 | ▼ 84.8% |
| Taxes, remuneration and social security45 | - | €5k | €784 | €9k | €6k | ▼ 33.5% |
| Taxes450/3 | - | €5k | €631 | €9k | €6k | ▼ 33.5% |
| Remuneration and social security454/9 | - | - | €153 | €0 | - | - |
| Other amounts payable47/48 | - | €24k | €24k | €24k | €24k | = |
| Accrued charges and deferred income492/3 | - | €2k | €1k | €2k | €2k | ▼ 9.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-35k | €2k | €26k | €20k | €73k | ▲ 257% |
| + Depreciation and write-downs630 | €62k | €15k | €15k | €15k | €15k | = |
| Operating cash flow (approximation) | €26k | €17k | €41k | €35k | €88k | ▲ 149% |
| Investment in fixed assets (approximation) | - | €0 | €3k | €0 | €0 | - |
| Change in cash | - | €-220k | €31k | €50k | €10k | ▼ 79.9% |
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
Next filing, fiscal year 2026, expected by
2026
02-04
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2018net €73k ▲257%
Net result €73k, the highest in the series.
25-02
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
30-03
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
18-02
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Back to profitnet €2k
Net result €2k after one loss-making year.
31-12
Financial
Liquidity quadruplescurrent ratio 9.45
Current ratio from 2.55 to 9.45; short-term debt falls from €149k to €29k.
29-03
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Weakest financial yearnet €-35k
Net result drops to €-35k, the lowest in the series; recovery starts the following year.
17-03
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Back to profitnet €44k
Net result €44k after one loss-making year.
16-03
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
Show earlier events
2019
02-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
27-04
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
25-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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, Koksijde · 2 establishment units since 1989
Ground area
3,124 m²
Building footprint
1,065 m²
Volume, LiDAR
8,254 m³
2 parcels, Flanders · tallest building 17.8 m, ±5 floors. Linked by address, not a title deed.
2 establishment units
MARECHAL
since 19892.043.624.110
Maréchal NV
since 20232.346.192.943
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 33305B0976/00P000 | Flanders | 2,253 m² | 1 · 752 m² | 10.4 m · 2 fl. |
| 38014F0256/00G003 | Flanders | 870 m² | 1 · 313 m² | 17.8 m · 5 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.
Similar companies · same sector, comparable size
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BE 0669.585.753
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NOYEZ IMMO BVBA
BE 0895.911.794
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BLANPAIN ET CHEVALIER
BE 0438.010.725
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FIBELCO
BE 0435.667.283
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Of 11,748 companies in sector 68310 we hold annual accounts for 6,905. 4,013 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded17-05-1989
Fiscal year end31-12
Activities, NACEBEL 2025
43320Joinery installation
68310Real estate agency activities
Scores and ratios are computed by Checked and are not a credit decision.