MARELE
ActiveSummary
MARELE has been active since 2005 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €338,970 and a net result of €88,320. Equity is growing by about 5.8% per year across the filed financial years. Its solvency ranks better than 61% of 1,055 sector peers (NACE 69, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Financials · financial year 2025, full format
Turnover
€0
EBIT margin
Not included in this filing
Net result
€88,320▲ 45.5%
2024 · €60,689
Working capital
-€92,142
2024 · €27,817
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result recovers in 2025; 2025 is 78% above 2024 and is the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€179,306
2025
Net result€88,320
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€722,606
2025
Equity€338,970
2025
Debt€383,636
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€92,142
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)12.2%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency46.9%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.56
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 69, Legal and accounting activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€0-
Operating result€79,525-€43,265▼ 45.6%€88,055▲ 104%€51,017▼ 42.1%€109,762▲ 115%€111,304▲ 1.4%€100,594▼ 9.6%€179,306▲ 78.2%
Net result€54,852-€28,891▼ 47.3%€62,218above the sector's middle half▲ 115%€28,365within the sector's middle half▼ 54.4%€67,117within the sector's middle half▲ 137%€66,908within the sector's middle half▼ 0.3%€60,689within the sector's middle half▼ 9.3%€88,320within the sector's middle half▲ 45.5%
Equity€281,723-€267,887▼ 4.9%€330,105above the sector's middle half▲ 23.2%€326,470within the sector's middle half▼ 1.1%€364,496within the sector's middle half▲ 11.6%€376,552within the sector's middle half▲ 3.3%€408,350within the sector's middle half▲ 8.4%€338,970within the sector's middle half▼ 17.0%
Total assets€331,183-€327,929▼ 1.0%€354,983within the sector's middle half▲ 8.3%€572,181within the sector's middle half▲ 61.2%€634,600within the sector's middle half▲ 10.9%€630,634within the sector's middle half▼ 0.6%€626,912within the sector's middle half▼ 0.6%€722,606within the sector's middle half▲ 15.3%
Debt€49,460-€60,042▲ 21.4%€24,878▼ 58.6%€245,710▲ 888%€270,103▲ 9.9%€254,082▼ 5.9%€218,563▼ 14.0%€383,636▲ 75.5%
Working capital€131,498-€123,041▼ 6.4%€184,516above the sector's middle half▲ 50.0%-€56,098below the sector's middle half-€35,675below the sector's middle half▲ 36.4%-€35,063below the sector's middle half▲ 1.7%€27,817within the sector's middle half-€92,142below the sector's middle half
Solvency85.1%-81.7%▼ 3.4pp93.0%above the sector's middle half▲ 11.3pp57.1%within the sector's middle half▼ 35.9pp57.4%within the sector's middle half▲ 0.4pp59.7%within the sector's middle half▲ 2.3pp65.1%within the sector's middle half▲ 5.4pp46.9%within the sector's middle half▼ 18.2pp
Current ratio3.97-3.11▼ 0.868.76above the sector's middle half▲ 5.650.19below the sector's middle half▼ 8.560.39below the sector's middle half▲ 0.200.57below the sector's middle half▲ 0.171.61within the sector's middle half▲ 1.040.56below the sector's middle half▼ 1.05
Return on assets (ROA)16.6%-8.8%▼ 7.8pp17.5%within the sector's middle half▲ 8.7pp5.0%within the sector's middle half▼ 12.6pp10.6%within the sector's middle half▲ 5.6pp10.6%within the sector's middle half=9.7%within the sector's middle half▼ 0.9pp12.2%within the sector's middle half▲ 2.5pp
above
within
below
the middle half of NACE 69, Legal and accounting activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €722,606
Fixed assets
€604,112 ▲ 9.1%
Current assets
€118,494 ▲ 61.5%
Equity and liabilities €722,606
Equity
€338,970 ▼ 17.0%
Debt
€383,636 ▲ 75.5%
Debt's share of the balance-sheet total rises from 34.9% to 53.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€208,405▲
2024 · €130,763
Cash flow
€117,419▲
2024 · €90,858
Quick ratio
0.53▼
2024 · 1.47
Debt to equity
1.13▲
2024 · 0.54
ROE
26.1%▲
2024 · 14.9%
Interest coverage
4.48▼
2024 · 18.74
Debt ≤ 1 year
€210,636▲
2024 · €45,563
Debt > 1 year
€173,000=
2024 · €173,000
Income taxes
€44,490▲
2024 · €32,927
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | €0 | - | - | - | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €15,238 | €16,351 | €17,113 | €19,116 | €23,853 | €33,411 | €30,169 | €29,099 | ▼ 3.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | -€500 | -€100 | €0 | - | - |
| Other operating charges640/8 | - | - | - | €2,195 | €3,118 | €2,524 | €2,955 | €2,263 | ▼ 23.4% |
| Gross operating margin9900 | €96,928 | €61,873 | €107,161 | €72,328 | €136,234 | €147,139 | €133,718 | €210,669 | ▲ 57.5% |
| Operating profit (loss)9901 | €79,525 | €43,265 | €88,055 | €51,017 | €109,762 | €111,304 | €100,594 | €179,306 | ▲ 78.2% |
| Financial income75/76B | - | - | - | €3 | €0 | €0 | €0 | - | - |
| Recurring financial income75 | €0 | €0 | €4 | €3 | €0 | €0 | €0 | - | - |
| Financial charges65/66B | - | - | - | €4,649 | €7,403 | €8,198 | €6,979 | €46,496 | ▲ 566% |
| Recurring financial charges65 | €649 | €344 | €114 | €4,649 | €7,403 | €8,198 | €6,979 | €46,496 | ▲ 566% |
| Profit (loss) for the period before taxes9903 | €78,877 | €42,921 | €87,945 | €46,371 | €102,360 | €103,106 | €93,616 | €132,810 | ▲ 41.9% |
| Income taxes67/77 | €24,024 | €14,030 | €25,726 | €18,006 | €35,243 | €36,197 | €32,927 | €44,490 | ▲ 35.1% |
| Profit (loss) for the period9904 | €54,852 | €28,891 | €62,218 | €28,365 | €67,117 | €66,908 | €60,689 | €88,320 | ▲ 45.5% |
| Transfer from tax-exempt reserves789 | - | - | - | - | - | - | - | €402 | - |
| Profit (loss) for the period to be appropriated9905 | €54,852 | €28,891 | €62,218 | €28,365 | €67,117 | €66,908 | €60,689 | €88,722 | ▲ 46.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €331,183 | €327,929 | €354,983 | €572,181 | €634,600 | €630,634 | €626,912 | €722,606 | ▲ 15.3% |
| Formation expenses20 | €0 | - | - | - | - | - | - | - | - |
| Fixed assets21/28 | €155,356 | €146,526 | €146,679 | €558,780 | €611,526 | €584,615 | €553,533 | €604,112 | ▲ 9.1% |
| Tangible fixed assets22/27 | €155,356 | €146,526 | €146,679 | €139,020 | €191,766 | €164,855 | €133,773 | €184,352 | ▲ 37.8% |
| Land and buildings22 | - | - | - | €96,462 | €104,678 | €91,458 | €80,141 | €71,526 | ▼ 10.7% |
| Furniture and vehicles24 | - | - | - | €6,039 | €54,281 | €41,724 | €29,634 | €96,025 | ▲ 224% |
| Other tangible fixed assets26 | - | - | - | €36,520 | €32,808 | €31,673 | €23,999 | €16,800 | ▼ 30.0% |
| Financial fixed assets28 | - | - | - | €419,760 | €419,760 | €419,760 | €419,760 | €419,760 | = |
| Current assets29/58 | €175,827 | €181,403 | €208,304 | €13,401 | €23,073 | €46,019 | €73,379 | €118,494 | ▲ 61.5% |
| Stocks and contracts in progress3 | - | - | - | - | - | €6,500 | €6,500 | €6,500 | = |
| Stocks30/36 | - | - | - | - | - | €6,500 | €6,500 | €6,500 | = |
| Amounts receivable within one year40/41 | €23,853 | €12,961 | €126 | €2,035 | €1,029 | €13,037 | €1,738 | €59,163 | ▲ 34× |
| Trade receivables40 | - | - | - | €2,035 | €802 | €9,213 | €1,165 | €57,964 | ▲ 50× |
| Other amounts receivable41 | - | - | - | - | €227 | €3,824 | €572 | €1,200 | ▲ 110% |
| Cash at bank and in hand54/58 | €149,447 | €166,167 | €205,521 | €8,793 | €18,234 | €24,076 | €60,626 | €46,620 | ▼ 23.1% |
| Deferred charges and accrued income490/1 | - | - | - | €2,573 | €3,811 | €2,406 | €4,515 | €6,211 | ▲ 37.6% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €331,183 | €327,929 | €354,983 | €572,181 | €634,600 | €630,634 | €626,912 | €722,606 | ▲ 15.3% |
| Equity10/15 | €281,723 | €267,887 | €330,105 | €326,470 | €364,496 | €376,552 | €408,350 | €338,970 | ▼ 17.0% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | - | - | - | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | - | - | - | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €165,273 | €151,437 | €213,655 | €210,020 | €248,046 | €260,102 | €291,899 | €222,519 | ▼ 23.8% |
| Non-distributable reserves130/1 | - | - | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Legal reserve130 | - | - | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Tax-exempt reserves132 | - | - | - | €402 | €402 | €402 | €402 | €0 | ▼ 100% |
| Distributable reserves133 | - | - | - | €203,418 | €241,444 | €253,500 | €285,297 | €216,319 | ▼ 24.2% |
| Profit (loss) carried forward14 | €54,451 | €54,451 | €54,451 | €54,451 | €54,451 | €54,451 | €54,451 | €54,451 | = |
| Amounts payable17/49 | €49,460 | €60,042 | €24,878 | €245,710 | €270,103 | €254,082 | €218,563 | €383,636 | ▲ 75.5% |
| Amounts payable after more than one year17 | €4,642 | €0 | - | €173,000 | €203,000 | €173,000 | €173,000 | €173,000 | = |
| Financial debts170/4 | - | - | - | €173,000 | €203,000 | €173,000 | €173,000 | €173,000 | = |
| Amounts payable within one year42/48 | €44,329 | €58,362 | €23,789 | €69,499 | €58,749 | €81,082 | €45,563 | €210,636 | ▲ 362% |
| Trade debts44 | €23,613 | €5,260 | €9,753 | €4,078 | €2,830 | €2,749 | €456 | €22,981 | ▲ 50× |
| Suppliers440/4 | - | - | - | €4,078 | €2,830 | €2,749 | €456 | €22,981 | ▲ 50× |
| Taxes, remuneration and social security45 | - | - | - | €11,327 | €24,429 | €24,232 | €14,043 | €46,667 | ▲ 232% |
| Taxes450/3 | - | - | - | €11,327 | €24,370 | €24,232 | €13,987 | €44,670 | ▲ 219% |
| Remuneration and social security454/9 | - | - | - | - | €59 | €0 | €55 | €1,997 | ▲ 36× |
| Other amounts payable47/48 | - | - | - | €54,094 | €31,490 | €54,101 | €31,064 | €140,988 | ▲ 354% |
| Accrued charges and deferred income492/3 | - | - | - | €3,212 | €8,355 | €0 | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €54,852 | €28,891 | €62,218 | €28,365 | €67,117 | €66,908 | €60,689 | €88,320 | ▲ 45.5% |
| + Depreciation and write-downs630 | €15,238 | €16,351 | €17,113 | €19,116 | €23,853 | €33,411 | €30,169 | €29,099 | ▼ 3.5% |
| Operating cash flow (approximation) | €70,091 | €45,242 | €79,331 | €47,481 | €90,970 | €100,320 | €90,858 | €117,419 | ▲ 29.2% |
| Investment in fixed assets (approximation) | - | -€7,520 | -€17,266 | -€431,217 | -€76,599 | -€6,500 | €913 | -€79,677 | - |
| Change in cash | - | €16,719 | €39,355 | -€196,729 | €9,441 | €5,842 | €36,551 | -€14,006 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 20 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 23-07-2026 | 2026-00330175 |
| 31-12-2024 | full format | 17-07-2025 | 2025-00287325 |
| 31-12-2023 | full format | 17-07-2024 | 2024-00265718 |
| 31-12-2022 | full format | 20-07-2023 | 2023-00259224 |
| 31-12-2021 | full format | 15-07-2022 | 2022-20200545 |
| 31-12-2020 | micro format | 19-07-2021 | 2021-37700570 |
| 31-12-2019 | micro format | 02-07-2020 | 2020-26700057 |
| 31-12-2018 | micro format | 16-07-2019 | 2019-33500588 |
| 31-12-2017 | micro format | 03-07-2018 | 2018-28600487 |
| 31-12-2016 | micro format | 10-07-2017 | 2017-29500326 |
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Of the 2,198 active companies whose main activity is other tax advisory services (NACE 69209), figures are known for 1,107. 784 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.