MAREFFE

Bankruptcy closed

Private limited company (pre-2019)KBO/BCE: BE 0824.686.773

Inactive since 16-04-2026; last annual accounts for financial year 2015.

Summary

MAREFFE was declared bankrupt on 26-03-2018 (Tribunal de commerce de Liège, division Liège); the bankruptcy was closed by liquidation by judgment of 14-04-2026, published in the Belgian Official Gazette on 17-04-2026.

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MAREFFEBankruptcy closed

Report

Financials · financial year 2015, full format

2015 annual accounts filed late (86 days) Filed on 25 October 2016, deadline 31 July 2016 (7 months after the close on 31 December 2015, Companies Code art. 3:10). Source: NBB, 2016-66500024.

Turnover

≈ €210,000

Estimated: probably between €130,000 and €410,000

EBIT margin

Not included in this filing

Net result

€46,081

2014 · -€19,813

Working capital

€24,430

2014 · -€23,154

Trend over the years

2011 to 2015, 5 financial years

The operating result returns to profit in 2015: €60,324 after a loss of €18,654 in 2014.

Turnover and resultEquity and debtWorking capitalStaff

What the company sold each financial year and what was left of it. A loss stands below the zero line.

Operating result€60,324 2015 Net result€46,081 2015

Every figure with its change against the financial year before

favourable unfavourable

Line20112012201320142015

Operating result€4,661--€39,117€78,570-€18,654€60,324

Net result-€1,714--€42,508▼ 2,381%€67,694-€19,813€46,081

Equity€4,486--€38,022-€329▲ 99.1%-€20,142▼ 6,031%€25,940

Total assets€55,204-€49,948▼ 9.5%€183,861▲ 268%€119,155▼ 35.2%€135,645▲ 13.8%

Debt€50,717-€87,970▲ 73.5%€184,190▲ 109%€139,296▼ 24.4%€109,705▼ 21.2%

Working capital€12,145--€58,903-€22,301▲ 62.1%-€23,154▼ 3.8%€24,430

Staff (FTE)1.1-1.7▲ 54.5%1.6▼ 5.9%1▼ 37.5%1=

The turnover shown is an estimate from the gross margin.

Balance-sheet composition

2015 in colour, 2014 as the grey bar beneath

Assets €135,645

98.9%

Fixed assets €1,510 ▼ 49.9%

Current assets €134,135 ▲ 15.5%

Equity and liabilities €135,645

19.1%

80.9%

Equity €25,940

Debt €109,705

Debt finances 80.9% of the balance-sheet total.

Key figures and ratios

2015 value · change against 2014

EBITDA

€62,086▲

2014 · -€13,208

Cash flow

€47,843▲

2014 · -€14,367

Current ratio

1.22▲

2014 · 0.83

Debt to equity

0.00

ROE

177.6%

ROA

34.0%▲

2014 · -16.6%

Debt ≤ 1 year

€109,705▼

2014 · €139,296

Debt > 1 year

€0=

2014 · €0

Income taxes

€19,012▲

2014 · €258

Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Annual accounts

OverviewIncome statement Balance sheet Cash flow

Filed annual accounts As filed with the NBB · 2015 against 2014 · 27 lines

Balance sheet Code20142015

Assets

Total assets20/58€119,155€135,645▲

Formation expenses20€81€0▼

Fixed assets21/28€3,012€1,510▼

Intangible fixed assets21€875€0▼

Tangible fixed assets22/27€806€0▼

Financial fixed assets28€1,250€1,510▲

Current assets29/58€116,142€134,135▲

Amounts receivable within one year40/41€110,763€120,908▲

Cash at bank and in hand54/58€5,000€12,969▲

Equity and liabilities

Total equity and liabilities10/49€119,155€135,645▲

Equity10/15-€20,142€25,940▲

Contributions10/11€6,200€6,200=

Reserves13€1,860€19,740▲

Profit (loss) carried forward14-€28,202€0▲

Amounts payable17/49€139,296€109,705▼

Amounts payable after more than one year17€0€0=

Amounts payable within one year42/48€139,296€109,705▼

Trade debts44€34,993€43,701▲

Income statement Code20142015

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€5,446€1,762▼

Gross operating margin9900€21,695€76,886▲

Operating profit (loss)9901-€18,654€60,324▲

Recurring financial income75€3,806€9,513▲

Recurring financial charges65€4,708€4,621▼

Profit (loss) for the period before taxes9903-€19,556€65,094▲

Income taxes67/77€258€19,012▲

Profit (loss) for the period9904-€19,813€46,081▲

Profit (loss) for the period to be appropriated9905-€19,813€46,081▲

Line	2011	2012	2013	2014	2015	Change
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630	€10,472	€12,112	€11,727	€5,446	€1,762	▼ 67.6%
Gross operating margin9900	€51,679	€20,846	€118,558	€21,695	€76,886	▲ 254%
Operating profit (loss)9901	€4,661	-€39,117	€78,570	-€18,654	€60,324	-
Recurring financial income75	€47	€7	-	€3,806	€9,513	▲ 150%
Recurring financial charges65	€5,201	€3,089	€7,315	€4,708	€4,621	▼ 1.8%
Profit (loss) for the period before taxes9903	-€493	-€42,199	€71,254	-€19,556	€65,094	-
Income taxes67/77	€1,220	€309	€3,561	€258	€19,012	▲ 74×
Profit (loss) for the period9904	-€1,714	-€42,508	€67,694	-€19,813	€46,081	-
Profit (loss) for the period to be appropriated9905	-€1,714	-€42,508	€67,694	-€19,813	€46,081	-

Line	2011	2012	2013	2014	2015	Change
Assets
Total assets20/58	€55,204	€49,948	€183,861	€119,155	€135,645	▲ 13.8%
Formation expenses20	€1,058	€732	€407	€81	€0	▼ 100%
Fixed assets21/28	€18,092	€36,273	€26,321	€3,012	€1,510	▼ 49.9%
Intangible fixed assets21	€11,375	€7,875	€4,375	€875	€0	▼ 100%
Tangible fixed assets22/27	€4,409	€26,416	€20,290	€806	€0	▼ 100%
Financial fixed assets28	€1,250	€1,250	€1,250	€1,250	€1,510	▲ 20.8%
Current assets29/58	€37,111	€13,675	€157,540	€116,142	€134,135	▲ 15.5%
Amounts receivable within one year40/41	€30,669	€10,384	€147,289	€110,763	€120,908	▲ 9.2%
Cash at bank and in hand54/58	€6,205	€1,333	€8,518	€5,000	€12,969	▲ 159%
Equity and liabilities
Total equity and liabilities10/49	€55,204	€49,948	€183,861	€119,155	€135,645	▲ 13.8%
Equity10/15	€4,486	-€38,022	-€329	-€20,142	€25,940	-
Contributions10/11	€6,200	€6,200	€6,200	€6,200	€6,200	=
Reserves13	-	-	€1,860	€1,860	€19,740	▲ 961%
Profit (loss) carried forward14	-€1,714	-€44,222	-€8,389	-€28,202	€0	-
Amounts payable17/49	€50,717	€87,970	€184,190	€139,296	€109,705	▼ 21.2%
Amounts payable after more than one year17	€25,751	€15,340	€3,699	€0	€0	-
Amounts payable within one year42/48	€24,966	€72,578	€179,841	€139,296	€109,705	▼ 21.2%
Trade debts44	€4,683	€19,645	€31,851	€34,993	€43,701	▲ 24.9%

Line	2011	2012	2013	2014	2015	Change
Profit (loss) for the period9904	-€1,714	-€42,508	€67,694	-€19,813	€46,081	-
+ Depreciation and write-downs630	€10,472	€12,112	€11,727	€5,446	€1,762	▼ 67.6%
Operating cash flow (approximation)	€8,758	-€30,397	€79,420	-€14,367	€47,843	-
Investment in fixed assets (approximation)	-	-€30,292	-€1,775	€17,863	-€260	-
Change in cash	-	-€4,873	€7,185	-€3,518	€7,969	-

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Filings with the National Bank (5)

Financial year	Type	Filed	Reference
31-12-2015	full format	25-10-2016	2016-66500024
31-12-2014	full format	31-08-2015	2015-54400065
31-12-2013	full format	18-07-2014	2014-31900513
31-12-2012	full format	11-07-2013	2013-30000122
31-12-2011	full format	22-08-2012	2012-43600230

Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.