MAREDCO
InactiveInactive; last annual accounts for fiscal year 2023.
Signals
Two 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 deadline28-09-2026 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 01-08-2024, 1 day 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
1 d late
2022
31 d late
2021
30 d late
2020
31 d late
2019
26 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 5 accounts on average 24 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)
Financials · fiscal year 2023, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€75,334
2022 · -€77,379
Working capital
€867,510▲ 39.4%
2022 · €622,371
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
Operating result€11,885€50,306▲ 323%-€55,225-€94,215▼ 70.6%€60,781
Net result€28,556€60,954▲ 113%-€38,240-€77,379▼ 102%€75,334
Equity€846,512▲ 3.5%€907,466▲ 7.2%€869,226▼ 4.2%€791,848▼ 8.9%€867,182▲ 9.5%
Total assets€1.3m▲ 7.7%€1.3m▲ 5.0%€1.3m▼ 4.1%€1.2m▼ 5.2%€1.3m▲ 9.1%
Debt€435,357▲ 17.1%€438,588▲ 0.7%€422,270▼ 3.7%€433,004▲ 2.5%€469,611▲ 8.5%
Working capital€470,333▼ 16.2%€580,061▲ 23.3%€622,551▲ 7.3%€622,371=€867,510▲ 39.4%
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2023: €60,781 after a loss of €94,215 in 2022, the highest result in the available series.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €1.3m
Fixed assets
€373,908 ▼ 30.3%
Current assets
€962,885 ▲ 39.8%
Equity and liabilities €1.3m
Equity
€867,182 ▲ 9.5%
Debt
€469,611 ▲ 8.5%
Debt's share of the balance-sheet total falls from 35.4% to 35.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€145,297▲
2022 · -€4,631
Cash flow
€159,851▲
2022 · €12,206
Current ratio
10.10▼
2022 · 10.40
Debt to equity
0.54▼
2022 · 0.55
ROE
8.7%▲
2022 · -9.8%
ROA
5.6%▲
2022 · -6.3%
Interest coverage
181.74▲
2022 · -6.98
Debt ≤ 1 year
€95,374▲
2022 · €66,179
Debt > 1 year
€374,237▲
2022 · €366,825
Income taxes
€151
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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €82,509 | €83,724 | €85,763 | €89,585 | €84,517 | ▼ 5.7% |
| Other operating charges640/8 | - | - | €868 | - | €5,537 | - |
| Non-recurring operating charges66A | - | - | - | - | €62,750 | - |
| Gross operating margin9900 | €96,934 | €137,079 | €31,405 | -€4,631 | €213,585 | ▲ 4,712% |
| Operating profit (loss)9901 | €11,885 | €50,306 | -€55,225 | -€94,215 | €60,781 | ▲ 165% |
| Financial income75/76B | - | - | €17,500 | €17,500 | €15,504 | ▼ 11.4% |
| Recurring financial income75 | €18,165 | €17,500 | €17,500 | €17,500 | €15,504 | ▼ 11.4% |
| Financial charges65/66B | - | - | €514 | €663 | €799 | ▲ 20.5% |
| Recurring financial charges65 | €782 | €1,295 | €514 | €663 | €799 | ▲ 20.5% |
| Profit (loss) for the period before taxes9903 | €29,268 | €66,511 | -€38,240 | -€77,379 | €75,485 | ▲ 198% |
| Income taxes67/77 | €712 | €5,557 | - | - | €151 | - |
| Profit (loss) for the period9904 | €28,556 | €60,954 | -€38,240 | -€77,379 | €75,334 | ▲ 197% |
| Profit (loss) for the period to be appropriated9905 | €28,556 | €60,954 | -€38,240 | -€77,379 | €75,334 | ▲ 197% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.3m | €1.3m | €1.3m | €1.2m | €1.3m | ▲ 9.1% |
| Fixed assets21/28 | €702,698 | €666,182 | €598,219 | €536,302 | €373,908 | ▼ 30.3% |
| Tangible fixed assets22/27 | €602,189 | €565,673 | €497,710 | €435,978 | €373,835 | ▼ 14.3% |
| Land and buildings22 | - | - | €117,481 | €108,460 | €96,768 | ▼ 10.8% |
| Furniture and vehicles24 | - | - | €690 | €345 | €4,917 | ▲ 1,325% |
| Other tangible fixed assets26 | - | - | €379,540 | €327,174 | €272,150 | ▼ 16.8% |
| Financial fixed assets28 | €100,509 | €100,509 | €100,509 | €100,323 | €73 | ▼ 99.9% |
| Current assets29/58 | €579,172 | €679,872 | €693,277 | €688,550 | €962,885 | ▲ 39.8% |
| Amounts receivable within one year40/41 | €504,004 | €547,235 | €595,245 | €592,675 | €670,485 | ▲ 13.1% |
| Trade receivables40 | - | - | €20,784 | €26,050 | €71,019 | ▲ 173% |
| Other amounts receivable41 | - | - | €574,461 | €566,625 | €599,466 | ▲ 5.8% |
| Current investments50/53 | - | - | - | - | €175,000 | - |
| Cash at bank and in hand54/58 | €47,076 | €86,252 | €36,979 | €17,706 | €21,188 | ▲ 19.7% |
| Deferred charges and accrued income490/1 | - | - | €61,053 | €78,169 | €96,212 | ▲ 23.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.3m | €1.3m | €1.3m | €1.2m | €1.3m | ▲ 9.1% |
| Equity10/15 | €846,512 | €907,466 | €869,226 | €791,848 | €867,182 | ▲ 9.5% |
| Contributions10/11 | €123,947 | €123,947 | €123,947 | €123,947 | €123,947 | = |
| Capital10 | - | - | €123,947 | €123,947 | €123,947 | = |
| Issued capital100 | - | - | €123,947 | €123,947 | €123,947 | = |
| Reserves13 | €12,395 | €73,349 | €73,349 | €73,349 | €73,349 | = |
| Non-distributable reserves130/1 | - | - | €12,395 | €12,395 | €12,395 | = |
| Legal reserve130 | - | - | €12,395 | €12,395 | €12,395 | = |
| Distributable reserves133 | - | - | €60,954 | €60,954 | €60,954 | = |
| Profit (loss) carried forward14 | €710,171 | €710,171 | €671,931 | €594,552 | €669,887 | ▲ 12.7% |
| Amounts payable17/49 | €435,357 | €438,588 | €422,270 | €433,004 | €469,611 | ▲ 8.5% |
| Amounts payable after more than one year17 | €326,518 | €338,697 | €351,544 | €366,825 | €374,237 | ▲ 2.0% |
| Financial debts170/4 | - | - | €351,544 | €366,825 | €374,237 | ▲ 2.0% |
| Amounts payable within one year42/48 | €108,839 | €99,811 | €70,725 | €66,179 | €95,374 | ▲ 44.1% |
| Current portion of amounts payable after more than one year42 | - | - | €18,635 | €19,663 | €20,541 | ▲ 4.5% |
| Trade debts44 | €20,018 | €59,590 | €9,407 | €8,591 | €790 | ▼ 90.8% |
| Suppliers440/4 | - | - | €9,407 | €8,591 | €790 | ▼ 90.8% |
| Taxes, remuneration and social security45 | - | - | €6,095 | - | €31,885 | - |
| Taxes450/3 | - | - | €6,095 | - | €21,885 | - |
| Remuneration and social security454/9 | - | - | - | - | €10,000 | - |
| Other amounts payable47/48 | - | - | €36,588 | €37,925 | €42,157 | ▲ 11.2% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €28,556 | €60,954 | -€38,240 | -€77,379 | €75,334 | ▲ 197% |
| + Depreciation and write-downs630 | €82,509 | €83,724 | €85,763 | €89,585 | €84,517 | ▼ 5.7% |
| Operating cash flow (approximation) | €111,065 | €144,677 | €47,523 | €12,206 | €159,851 | ▲ 1,210% |
| Investment in fixed assets (approximation) | - | -€47,208 | -€17,800 | -€27,667 | €77,876 | ▲ 381% |
| Change in cash | - | €39,176 | -€49,273 | -€19,273 | €3,482 | ▲ 118% |
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
2024
01-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 1 day late
2023
31-12
Financial
Back to profitnet €75,334
Net result €75,334 after 2 loss-making years.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 31 days late
2022
31-12
Financial
Weakest financial yearnet -€77,379
Net result drops to -€77,379, the lowest in the series.
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 30 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 31 days late
2020
26-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 26 days late
2019
31-12
Financial
Back to profitnet €28,556
Net result €28,556 after one loss-making year.
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 29 days late
2018
23-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 23 days late
2017
24-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 24 days late
2016
09-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 9 days late
Show earlier events
2015
06-11
State Gazette act
Board meeting · Director resignation
Director appointment · Permanent representative
18-08
NBB filing
Annual accounts filed
fiscal year 2014 · full schema · 18 days late
2013
09-09
State Gazette act
Board meeting · Director resignation
Director appointment · Permanent representative
2012
21-05
State Gazette act
General meeting · Registered-office move
Purpose change · Director resignation
Financial milestoneState Gazette actNBB 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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Structure & network
Owners and holdings
2 ownersChain of control
- MAREDCO
- MAREDCO
Highest known parent: MAREDCO. The sources do not say who stands above it.
Owners 2
- MAREDCOparent99%
- Sébastien DESCLEE de MAREDSOUSnatural personSourceown accounts 20231%
Holdings 0
The accounts to 31-12-2023 list no holdings, and no other source names one.
According to the 2023 annual accounts of MAREDCO and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Recognitions · licences · registrations
Legal Entity Identifier
967600NMXM4SIRVZ4B78