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MAREL

Active
Public limited companyfounded 199036 yrs activeGentsestraat 79, 8530 Harelbeke, BelgiumKBO/BCE: BE 0440.166.402
Summary

MAREL has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €198,625 and a net result of -€2,075. Equity remains stable across the filed fiscal years (±1.7% per year). Its solvency ranks better than 42% of 2098 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.6% (low).

Checked score

Score 2024
Axes · tick = 2023
Profitability37▲+1
Solvency56▼-2
Growth32=
Track record100
Bankruptcy probability, 12 months
0.6% Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €10,000 at 30 days only on tighter terms
Liquidity ample (current ratio 1.8 against 1.77 in 2023; short-term debt: 55.7% and cash: 0.1% of total assets), but 68.7% of the assets are financed with debt.
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Signals

Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% more 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 date
Age against the risk zone
highest failure risk from 2 to 8 years 36 years 0 40 y
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 2024
Solvency, return and age of the figures
Solvency
31.3%
Return on assets
-0.3%
Age of the figures
21 mo
lowers risk · Lower-risk legal form
Companies with this legal form statistically fail less often than a BV.
KBO · legal form
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 13-11-2025, 105 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 10 filings
Deviation from the deadline
2025
not confirmed
2024
105 d late
2023
65 d late
2022
129 d late
2021
184 d late
2020
31 d late
2019
122 d late
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 6 accounts on average 106 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.

Checked, nothing found (1)
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

MAREL was incorporated on 31 January 1990.1 Total assets went from EUR 587,916 in 2018 to EUR 634,120 in 2024.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2018 and 2024

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Financials · fiscal year 2024, abbreviated schema

Source amounts without an identifiable currency are assumed to be EUR.

Equity
€198,625▼ 1.0%
2023 · €200,699
Total assets
€634,120▲ 2.8%
2023 · €616,839
Net result
-€2,075▲ 47.8%
2023 · -€3,976
Working capital
€280,897▲ 4.9%
2023 · €267,677
Trend over the years

Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, each year against the same schema; no band under 30 filings. Dashed line: the median.

Every figure with its change against the fiscal year before
favourable unfavourable
Line20202021202220232024
Operating result-€8,238▼ 90.9%-€8,178▲ 0.7%€6,564-€13,713-€6,685▲ 51.2%
Net result-€6,674▼ 81.7%-€11,343below the sector's middle half▼ 70.0%€7,489within the sector's middle half-€3,976below the sector's middle half-€2,075below the sector's middle half▲ 47.8%
Equity€215,203▼ 1.7%€197,187within the sector's middle half▼ 8.4%€204,676within the sector's middle half▲ 3.8%€200,699within the sector's middle half▼ 1.9%€198,625within the sector's middle half▼ 1.0%
Total assets€598,966▲ 1.2%€576,279within the sector's middle half▼ 3.8%€589,956within the sector's middle half▲ 2.4%€616,839within the sector's middle half▲ 4.6%€634,120within the sector's middle half▲ 2.8%
Debt€390,437▲ 3.6%€379,092▼ 2.9%€385,280▲ 1.6%€416,139▲ 8.0%€435,496▲ 4.7%
Working capital€239,191▼ 0.7%€237,492within the sector's middle half▼ 0.7%€254,776within the sector's middle half▲ 7.3%€267,677within the sector's middle half▲ 5.1%€280,897within the sector's middle half▲ 4.9%
Solvency35.9%▼ 1.0pp34.2%within the sector's middle half▼ 1.7pp34.7%within the sector's middle half▲ 0.5pp32.5%within the sector's middle half▼ 2.2pp31.3%within the sector's middle half▼ 1.2pp
Current ratio1.66▼ 0.021.70within the sector's middle half▲ 0.041.76within the sector's middle half▲ 0.061.77within the sector's middle half▲ 0.011.80within the sector's middle half▲ 0.03
Return on assets (ROA)-1.1%▼ 0.5pp-2.0%below the sector's middle half▼ 0.9pp1.3%within the sector's middle half▲ 3.2pp-0.6%below the sector's middle half▼ 1.9pp-0.3%below the sector's middle half▲ 0.3pp
above within below the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
-€20,000-€10,000€0€10,000Operating result 2020: -€8,238-€8,238Net result 2020: -€6,674-€6,674Operating result 2021: -€8,178-€8,178Net result 2021: -€11,343-€11,343Operating result 2022: €6,564€6,564Net result 2022: €7,489€7,489Operating result 2023: -€13,713-€13,713Net result 2023: -€3,976-€3,976Operating result 2024: -€6,685-€6,685Net result 2024: -€2,075-€2,07520202021202220232024-€20,000-€10,000€0€10,000Operating result 2022: €6,564€6,560Net result 2022: €7,489€7,490Operating result 2023: -€13,713-€13,700Net result 2023: -€3,976-€3,980Operating result 2024: -€6,685-€6,690Net result 2024: -€2,075-€2,070202220232024
The operating result stays negative: a loss of €6,685 in 2024 against €13,713 in 2023; the loss shrinks.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Equity and liabilities €634,120
Equity €198,625 ▼ 1.0%
Debt €435,496 ▲ 4.7%
Debt's share of the balance-sheet total rises from 67.5% to 68.7%. Equity is lower and debt is higher.
Key figures and ratios
2024 value · change against 2023
Debt to equity
2.19▲
2023 · 2.07
ROE
-1.0%▲
2023 · -2.0%
Debt ≤ 1 year
€353,223▲
2023 · €348,262
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 8,611 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 94% are still going.

  • Small
  • 20 years or older
  • solvency 30% or more
  • a small loss
0.4% went bankrupt
5.1% stopped otherwise
94% still going

A further 0.2% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a bankruptcy probability of 0.6% over twelve months; the group does not contradict it.

How reliable is this rule?

Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.

The companies in ten equal groups, from lowest to highest expected share.
Group Expected Actual
1 0.2% 0.2%
2 0.3% 0.5%
3 0.5% 0.6%
4 0.7% 0.8%
5 0.9% 1.0%
6 1.3% 1.5%
7 1.6% 1.8%
8 1.8% 1.8%
9 3.0% 3.1%
10 5.6% 6.2%

The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.

An observation about 8,611 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.

Annual accounts
Filed annual accounts As filed with the NBB · 2024 against 2023 · 39 lines
Balance sheet Code20232024
Assets
Total assets20/58€616,839€634,120▲
Fixed assets21/28€900€0▼
Financial fixed assets28€900€0▼
Current assets29/58€615,939€634,120▲
Amounts receivable within one year40/41€526,010€530,999▲
Other amounts receivable41€526,010€530,999▲
Cash at bank and in hand54/58€31€510▲
Deferred charges and accrued income490/1€89,898€102,612▲
Equity and liabilities
Total equity and liabilities10/49€616,839€634,120▲
Equity10/15€200,699€198,625▼
Contributions10/11€62,000€62,000=
Capital10€62,000€62,000=
Issued capital100€62,000€62,000=
Reserves13€138,699€136,625▼
Non-distributable reserves130/1€6,200€6,200=
Legal reserve130€6,200€6,200=
Distributable reserves133€132,499€130,425▼
Amounts payable17/49€416,139€435,496▲
Amounts payable within one year42/48€348,262€353,223▲
Financial debts43€16€0▼
Credit institutions430/8€16€0▼
Trade debts44€33,401€31,479▼
Suppliers440/4€33,401€31,479▼
Other amounts payable47/48€314,845€321,745▲
Accrued charges and deferred income492/3€67,877€82,272▲
Income statement Code20232024
Other operating charges640/8€940€685▼
Gross operating margin9900-€12,773-€6,000▲
Operating profit (loss)9901-€13,713-€6,685▲
Financial income75/76B€27,739€21,403▼
Recurring financial income75€27,739€21,403▼
Financial charges65/66B€18,003€16,793▼
Recurring financial charges65€18,003€16,793▼
Profit (loss) for the period before taxes9903-€3,976-€2,075▲
Profit (loss) for the period9904-€3,976-€2,075▲
Profit (loss) for the period to be appropriated9905-€3,976-€2,075▲
Appropriation of the result
Profit (loss) to be appropriated9906-€3,976-€2,075▲
Transfer from equity791/2€3,976€2,075▼
Transfer to equity691/2€0-
To other reserves6921€0-

The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20202021202220232024Change
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0-----
Other operating charges640/8-€459€469€940€685▼ 27.1%
Gross operating margin9900-€7,681-€7,719€7,033-€12,773-€6,000▲ 53.0%
Operating profit (loss)9901-€8,238-€8,178€6,564-€13,713-€6,685▲ 51.2%
Financial income75/76B-€6,963€10,753€27,739€21,403▼ 22.8%
Recurring financial income75€6,963€6,963€10,753€27,739€21,403▼ 22.8%
Financial charges65/66B-€10,127€9,828€18,003€16,793▼ 6.7%
Recurring financial charges65€6,321€10,127€9,828€18,003€16,793▼ 6.7%
Profit (loss) for the period before taxes9903-€6,674-€11,343€7,489-€3,976-€2,075▲ 47.8%
Income taxes67/77€0-----
Profit (loss) for the period9904-€6,674-€11,343€7,489-€3,976-€2,075▲ 47.8%
Profit (loss) for the period to be appropriated9905-€6,674-€11,343€7,489-€3,976-€2,075▲ 47.8%
Line20202021202220232024Change
Assets
Total assets20/58€598,966€576,279€589,956€616,839€634,120▲ 2.8%
Formation expenses20€0-----
Fixed assets21/28-€300€600€900€0▼ 100%
Intangible fixed assets21€0-----
Financial fixed assets28€0€300€600€900€0▼ 100%
Current assets29/58€598,966€575,979€589,356€615,939€634,120▲ 3.0%
Stocks and contracts in progress3€0€187,807----
Contracts in progress37-€187,807----
Amounts receivable within one year40/41€375,292€317,575€511,104€526,010€530,999▲ 0.9%
Other amounts receivable41-€317,575€511,104€526,010€530,999▲ 0.9%
Current investments50/53€0-----
Cash at bank and in hand54/58€243€157€1,069€31€510▲ 1,531%
Deferred charges and accrued income490/1-€70,440€77,183€89,898€102,612▲ 14.1%
Equity and liabilities
Total equity and liabilities10/49€598,966€576,279€589,956€616,839€634,120▲ 2.8%
Equity10/15€215,203€197,187€204,676€200,699€198,625▼ 1.0%
Contributions10/11€62,000€62,000€62,000€62,000€62,000=
Capital10-€62,000€62,000€62,000€62,000=
Issued capital100-€62,000€62,000€62,000€62,000=
Reserves13€153,203€135,187€142,676€138,699€136,625▼ 1.5%
Non-distributable reserves130/1-€6,200€6,200€6,200€6,200=
Legal reserve130-€6,200€6,200€6,200€6,200=
Distributable reserves133-€128,987€136,476€132,499€130,425▼ 1.6%
Profit (loss) carried forward14€0-----
Amounts payable17/49€390,437€379,092€385,280€416,139€435,496▲ 4.7%
Amounts payable within one year42/48€359,775€338,487€334,580€348,262€353,223▲ 1.4%
Financial debts43---€16€0▼ 100%
Credit institutions430/8---€16€0▼ 100%
Trade debts44€6,598€6,242€26,235€33,401€31,479▼ 5.8%
Suppliers440/4-€6,242€26,235€33,401€31,479▼ 5.8%
Other amounts payable47/48-€332,245€308,345€314,845€321,745▲ 2.2%
Accrued charges and deferred income492/3-€40,605€50,700€67,877€82,272▲ 21.2%
Line20202021202220232024Change
Profit (loss) for the period9904-€6,674-€11,343€7,489-€3,976-€2,075▲ 47.8%
+ Depreciation and write-downs630€0-----
Operating cash flow (approximation)-€6,674-€11,343€7,489-€3,976-€2,075▲ 47.8%
Investment in fixed assets (approximation)---€300-€300€900▲ 400%
Change in cash--€86€912-€1,038€479▲ 146%

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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Timeline · acts, filings and financial milestones

2025
13-11
NBB filing Annual accounts filed
fiscal year 2024 · abbreviated schema · 105 days late
2024
04-10
NBB filing Annual accounts filed
fiscal year 2023 · abbreviated schema · 65 days late
2023
07-12
NBB filing Annual accounts filed
fiscal year 2022 · abbreviated schema · 129 days late
31-01
NBB filing Annual accounts filed
fiscal year 2021 · abbreviated schema · 184 days late
2022
31-12
Financial Back to profitnet €7,489
Net result €7,489 after 3 loss-making years.
31-12
Financial Equity above €200,000Eq €204,676 ▲3.8%
Equity rises from €197,187 to €204,676.
2021
31-12
Financial Weakest financial yearnet -€11,343
Net result drops to -€11,343, the lowest in the series; recovery starts the following year.
31-08
NBB filing Annual accounts filed
fiscal year 2020 · abbreviated schema · 31 days late
2020
30-11
NBB filing Annual accounts filed
fiscal year 2019 · abbreviated schema · 122 days late
2019
20-11
NBB filing Annual accounts filed
fiscal year 2018 · abbreviated schema · 112 days late
2018
31-08
NBB filing Annual accounts filed
fiscal year 2017 · abbreviated schema · 31 days late
2017
29-09
NBB filing Annual accounts filed
fiscal year 2016 · abbreviated schema · 60 days late
2016
30-09
NBB filing Annual accounts filed
fiscal year 2015 · abbreviated schema · 61 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts

We know of 4 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
4 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, Harelbeke · 1 establishment unit since 1990
seat establishment The establishment unit on the map
Ground area
1,972 m²
Building footprint
131 m²
Volume, LiDAR
1,449 m³
Parcel 34013A0203/00C005, Flanders · tallest building 13.9 m, ±4 floors. Linked by address, not a title deed.
10 companies at this address See who is registered here
1 establishment unit
Gentsestraat 79, 8530 Harelbeke
Insurance, reinsurance and pension funding, except compulsory social security
since 19902.048.023.752
1 parcel
Flanders 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
34013A0203/00C005 Flanders 1,972 m² 1 · 130 m² 13.8 m · 4 fl.
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.

Structure & network

Owners and holdings

1 owner

Chain of control

  1. MEGNIL 100%
  2. MAREL

Highest known parent: MEGNIL. The sources do not say who stands above it.

Owners 1

Holdings 0

No holding stated in the accounts, acts or LEI register we read.

According to the annual accounts 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.

Similar companies · same sector, comparable size

Of 2,456 companies in sector 41003 we hold annual accounts for 1,058. 719 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
Founded31-01-1990
Fiscal year end31-12
Activities, NACEBEL 2025
41003General construction of other non-residential buildings
E-invoicing
Not found in the Peppol register

No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.

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Register as of 30 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.