MAREFINA
ActiveMAREFINA has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-123k) and a net result of €-460k. Equity remains stable across the filed fiscal years (±0.1% per year). Its solvency ranks better than 5% of 4533 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
32
/ 100
Weak
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0▼-22
Solvency0▼-78
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.07 against 0.07 in 2024; short-term debt: 265.3% and cash: 5.6% of total assets), and equity is negative.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-260.3%
Return on assets
-969.9%
Age of the figures
9 mo
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
Sector 68
lower
← 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
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
18192122232425
2018 to 2025 · latest year €-123k
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 17-07-2026, 14 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
14 d early
2024
on the day
2023
13 d early
2022
6 d early
2021
11 d late
2020
11 d early
2019
9 d early
← before the deadline
after the deadline →
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
22-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€62k
EBIT margin
476.4%
Net result
€-460k▼ 5,381%
2024 · €-8k
2018: €8k
2019: €10k
2021: €200k
2022: €18k
2023: €15k
2024: €-8k
2018 → 2025
Working capital
€-117k▲ 5.7%
2024 · €-124k
2018: €-278k
2019: €-318k
2021: €-123k
2022: €-117k
2023: €-109k
2024: €-124k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€62k-
Equity€312k-€330k▲ 5.7%€345k▲ 4.5%€337k▼ 2.4%€-123k
Operating result€297k-€18k▼ 93.9%€16k▼ 9.9%€9k▼ 48.0%€24k▲ 183%
Net result€200k-€18k▼ 91.1%€15k▼ 17.8%€-8k€-460k▼ 5,381%
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 183% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €47k
Fixed assets
€39k▼ 93.8%
Current assets
€9k▼ 5.0%
Key figures and ratios
EBITDA
€24k▲
2024 · €9k
Cash flow
€-460k▼
2024 · €-7k
Solvency
-260.3%▼
2024 · 53.1%
Current ratio
0.07▲
2024 · 0.07
Quick ratio
0.07▲
2024 · 0.07
Debt / equity
-1.38▼
2024 · 0.60
ROA
-969.9%▼
2024 · -1.3%
Interest coverage
-3.63▼
2024 · 0.55
Debt
€171k▼
2024 · €202k
Debt ≤ 1 year
€126k▼
2024 · €133k
Debt > 1 year
€45k▼
2024 · €58k
Income taxes
€176▲
2024 · €-112
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€634k€47k▼
Fixed assets21/28€625k€39k▼
Tangible fixed assets22/27€39k€39k▼
Land and buildings22€39k€39k=
Plant, machinery and equipment23€496€240▼
Financial fixed assets28€586k-
Current assets29/58€9k€9k▼
Amounts receivable within one year40/41€5k€6k▲
Trade receivables40€4k€6k▲
Other amounts receivable41€581-
Cash at bank and in hand54/58€4k€3k▼
Deferred charges and accrued income490/1€206€347▲
Equity and liabilities
Total equity and liabilities10/49€634k€47k▼
Equity10/15€337k€-123k▼
Contributions10/11€280k€280k=
Capital10€280k€280k=
Issued capital100€280k€280k=
Reserves13€242k€58k▼
Non-distributable reserves130/1€28k€28k=
Legal reserve130€28k€28k=
Tax-exempt reserves132€184k-
Distributable reserves133€30k€30k=
Profit (loss) carried forward14€-186k€-461k▼
Provisions and deferred taxes16€95k-
Deferred taxes168€95k-
Amounts payable17/49€202k€171k▼
Amounts payable after more than one year17€58k€45k▼
Financial debts170/4€57k€44k▼
Other amounts payable178/9€1k€1k=
Amounts payable within one year42/48€133k€126k▼
Trade debts44€2k€3k▲
Suppliers440/4€2k€3k▲
Advances received on contracts in progress46€1k€1k▲
Taxes, remuneration and social security45€140€408▲
Taxes450/3€140€408▲
Other amounts payable47/48€130k€120k▼
Accrued charges and deferred income492/3€11k-
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€935€256▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€22k€-22k▼
Other operating charges640/8€471€30k▲
Gross operating margin9900€32k€32k▲
Operating profit (loss)9901€9k€24k▲
Financial income75/76B-€0
Recurring financial income75-€0
Financial charges65/66B€17k€579k▲
Recurring financial charges65€17k€-7k▼
Non-recurring financial charges66B-€586k
Profit (loss) for the period before taxes9903€-9k€-555k▼
Transfer from deferred taxes780-€95k
Income taxes67/77€-112€176▲
Profit (loss) for the period9904€-8k€-460k▼
Transfer from tax-exempt reserves789-€184k
Profit (loss) for the period to be appropriated9905€-8k€-275k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-186k€-461k▼
Profit (loss) brought forward from the previous period14P€-178k€-186k▼
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
17-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Weakest financial yearnet €-460k
Net result drops to €-460k, the lowest in the series.
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
18-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
25-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
11-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 11 days late
2021
31-12
Financial
Highest result since 2018net €200k ▲1939%
Operating result €297k, net result €200k, both a record.
20-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
22-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
05-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
12-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
31-07
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.
Directors · office · real estate
Directors
14 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, Tessenderlo-Ham · 1 establishment unit since 1989
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Rietweg 113980 Tessenderlo-HamGround area
509 m²
Building footprint
122 m²
Volume, LiDAR
917 m³
Parcel 71362B1141/00X000, Flanders · tallest building 10.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Severijns Vastgoed
since 19892.042.956.491
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71362B1141/00X000 | Flanders | 509 m² | 1 · 122 m² | 10.9 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2023 · 2 entries · 180 EUR awarded · 180 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 60 EUR | 120 EUR |
| 2022 | 1 | 120 EUR | 60 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Legal Entity Identifier
699400C1X0PLX0CREX92
Similar companies · same sector, comparable size
LANDBERGH
BE 0563.607.810
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NABAZ
BE 0735.928.211
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Immobiliënmaatschappij De Valk
BE 0406.696.551
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SEQUENCE CONCEPT
BE 0439.111.773
Jette · Eq €336k
TH EXPERT
BE 0472.987.836
Anderlecht · Eq €337k
Of 11,750 companies in sector 68310 we hold annual accounts for 6,907. 4,898 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded15-03-1989
Fiscal year end31-12
Activities, NACEBEL
68310Real estate agency activities
68311Real estate activities
70311
70200Business and other management consultancy
70220Business consulting
74142
Sources
Crossroads Bank for EnterprisesNational Bank · 37 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
1 entryPhone:013/67 32 32