MAREOD
ActiveSummary
MAREOD has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €984,039 and a net result of -€17,704. Equity is growing by ~3.2% per year across the filed fiscal years. Its solvency ranks better than 86% of 10485 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability47▲+10
Solvency100▲+9
Growth52=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €65,000 at 30 days acceptable
Liquidity tight (current ratio 1.17 against 0.97 in 2024; short-term debt: 8.4% and cash: 5.7% of total assets), and 23.3% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% 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 dateAge against the risk zone
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
19202122232425
2019 to 2025 · latest year -€17,704
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 27-10-2025, 4 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
4 d early
2024
7 d early
2023
5 d early
2022
3 d early
2021
3 d early
2020
26 d late
2019
on the day
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 1 day 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 (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close27-09-2026 today31-10-2026 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€984,039▼ 1.8%
2024 · €1.0m
Total assets
€1.3m▼ 15.1%
2024 · €1.5m
Net result
-€17,704▲ 48.1%
2024 · -€34,101
Working capital
€18,317
2024 · -€8,409
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, 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
Line20212022202320242025
Operating result€166,266▼ 35.5%€377,597▲ 127%-€24,783-€18,304▲ 26.1%-€9,063▲ 50.5%
Net result€106,954within the sector's middle half▼ 42.2%€257,674above the sector's middle half▲ 141%-€31,747below the sector's middle half-€34,101below the sector's middle half▼ 7.4%-€17,704below the sector's middle half▲ 48.1%
Equity€1.1mabove the sector's middle half▲ 11.0%€1.2mabove the sector's middle half▲ 14.8%€1.2mabove the sector's middle half▼ 2.6%€1.0mabove the sector's middle half▼ 16.6%€984,039above the sector's middle half▼ 1.8%
Total assets€1.8mabove the sector's middle half▲ 2.2%€1.8mabove the sector's middle half▼ 1.6%€1.7mwithin the sector's middle half▼ 6.5%€1.5mwithin the sector's middle half▼ 8.8%€1.3mwithin the sector's middle half▼ 15.1%
Debt€724,786▼ 8.5%€537,812▼ 25.8%€455,173▼ 15.4%€508,895▲ 11.8%€298,918▼ 41.3%
Working capital€407,617▲ 22.4%€599,789▲ 47.1%€149,815▼ 75.0%-€8,409€18,317
Solvency59.7%within the sector's middle half▲ 4.7pp69.6%above the sector's middle half▲ 9.9pp72.5%above the sector's middle half▲ 2.9pp66.3%above the sector's middle half▼ 6.2pp76.7%above the sector's middle half▲ 10.4pp
Staff (FTE)9.2above the sector's middle half▲ 12.2%1.1below the sector's middle half▼ 88.0%0below the sector's middle half▼ 100%0below the sector's middle half0below the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, 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
The operating result stays negative: a loss of €9,063 in 2025 against €18,304 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.3m
Fixed assets
€1.2m ▼ 6.7%
Current assets
€126,714 ▼ 53.4%
Equity and liabilities €1.3m
Equity
€984,039 ▼ 1.8%
Debt
€298,918 ▼ 41.3%
Debt's share of the balance-sheet total falls from 33.7% to 23.3%. Equity and debt are lower.
Key figures and ratios
EBITDA
€49,015▲
2024 · €40,551
Cash flow
€40,374▲
2024 · €24,755
Current ratio
1.17▲
2024 · 0.97
Debt to equity
0.30▼
2024 · 0.51
ROE
-1.8%▲
2024 · -3.4%
ROA
-1.4%▲
2024 · -2.3%
Interest coverage
3.58▲
2024 · 2.53
Debt ≤ 1 year
€108,397▼
2024 · €280,375
Debt > 1 year
€186,219▼
2024 · €216,814
Income taxes
€0▲
2024 · -€99
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,685 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 94% are still going.
- Small
- 10 to 20 years old
- solvency 30% or more
- a small loss
0.5%
went bankrupt
5.5%
stopped otherwise
94%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 2,685 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
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €468,148 | €0 | €896 | €3,229 | ▲ 260% |
| Remuneration, social security and pensions62 | - | €21,357 | -€286 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €53,724 | €45,808 | €54,947 | €58,855 | €58,077 | ▼ 1.3% |
| Other operating charges640/8 | - | €11,892 | €11,324 | €13,114 | €14,768 | ▲ 12.6% |
| Non-recurring operating charges66A | - | - | €25,471 | €0 | - | - |
| Gross operating margin9900 | €445,380 | €456,654 | €66,673 | €53,665 | €63,783 | ▲ 18.9% |
| Operating profit (loss)9901 | €166,266 | €377,597 | -€24,783 | -€18,304 | -€9,063 | ▲ 50.5% |
| Financial income75/76B | - | €473 | €2,107 | €119 | €5,047 | ▲ 4,155% |
| Recurring financial income75 | €513 | €473 | €2,107 | €119 | €5,047 | ▲ 4,155% |
| Financial charges65/66B | - | €6,911 | €9,071 | €16,014 | €13,688 | ▼ 14.5% |
| Recurring financial charges65 | €16,633 | €6,911 | €9,071 | €16,014 | €13,688 | ▼ 14.5% |
| Profit (loss) for the period before taxes9903 | €150,146 | €371,160 | -€31,747 | -€34,199 | -€17,704 | ▲ 48.2% |
| Income taxes67/77 | €43,191 | €113,486 | €0 | -€99 | €0 | ▲ 100% |
| Profit (loss) for the period9904 | €106,954 | €257,674 | -€31,747 | -€34,101 | -€17,704 | ▲ 48.1% |
| Profit (loss) for the period to be appropriated9905 | €106,954 | €257,674 | -€31,747 | -€34,101 | -€17,704 | ▲ 48.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.8m | €1.8m | €1.7m | €1.5m | €1.3m | ▼ 15.1% |
| Fixed assets21/28 | €980,467 | €1.0m | €1.3m | €1.2m | €1.2m | ▼ 6.7% |
| Tangible fixed assets22/27 | €976,671 | €1.0m | €1.3m | €1.2m | €1.2m | ▼ 6.7% |
| Land and buildings22 | - | €1.0m | €1.3m | €1.2m | €1.1m | ▼ 6.5% |
| Plant, machinery and equipment23 | - | - | €14,327 | €43,886 | €38,985 | ▼ 11.2% |
| Furniture and vehicles24 | - | €555 | €59 | €0 | - | - |
| Financial fixed assets28 | €3,796 | €186 | €186 | €186 | €186 | = |
| Current assets29/58 | €819,236 | €769,051 | €350,272 | €271,966 | €126,714 | ▼ 53.4% |
| Stocks and contracts in progress3 | €159,201 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €18,412 | €24,800 | €44,877 | €61,239 | €51,838 | ▼ 15.4% |
| Trade receivables40 | - | €13,279 | €1,104 | €450 | €379 | ▼ 15.7% |
| Other amounts receivable41 | - | €11,522 | €43,773 | €60,789 | €51,459 | ▼ 15.3% |
| Current investments50/53 | €302,197 | €700,391 | €299,170 | €191,833 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €311,362 | €6,093 | €5,319 | €17,955 | €73,574 | ▲ 310% |
| Deferred charges and accrued income490/1 | - | €37,767 | €907 | €939 | €1,302 | ▲ 38.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.8m | €1.8m | €1.7m | €1.5m | €1.3m | ▼ 15.1% |
| Equity10/15 | €1.1m | €1.2m | €1.2m | €1.0m | €984,039 | ▼ 1.8% |
| Contributions10/11 | - | €90,000 | €90,000 | €90,000 | €90,000 | = |
| Reserves13 | €485,280 | €742,280 | €742,280 | €576,280 | €576,280 | = |
| Tax-exempt reserves132 | - | €380 | €380 | €380 | €380 | = |
| Distributable reserves133 | - | €741,900 | €741,900 | €575,900 | €575,900 | = |
| Profit (loss) carried forward14 | €400,637 | €401,310 | €369,563 | €335,463 | €317,759 | ▼ 5.3% |
| Amounts payable17/49 | €724,786 | €537,812 | €455,173 | €508,895 | €298,918 | ▼ 41.3% |
| Amounts payable after more than one year17 | €304,306 | €273,820 | €246,829 | €216,814 | €186,219 | ▼ 14.1% |
| Financial debts170/4 | - | €273,820 | €246,669 | €216,654 | €186,219 | ▼ 14.0% |
| Other amounts payable178/9 | - | - | €160 | €160 | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €411,619 | €169,262 | €200,456 | €280,375 | €108,397 | ▼ 61.3% |
| Current portion of amounts payable after more than one year42 | - | €34,161 | €29,601 | €30,015 | €30,435 | ▲ 1.4% |
| Trade debts44 | €329,987 | €20,346 | €31,354 | €9,067 | €2,056 | ▼ 77.3% |
| Suppliers440/4 | - | €20,346 | €31,354 | €9,067 | €2,056 | ▼ 77.3% |
| Taxes, remuneration and social security45 | - | €14,899 | €36,257 | €1,673 | €1,881 | ▲ 12.4% |
| Taxes450/3 | - | €14,200 | €36,059 | €1,474 | €1,682 | ▲ 14.1% |
| Remuneration and social security454/9 | - | €699 | €199 | €199 | €199 | = |
| Other amounts payable47/48 | - | €99,856 | €103,243 | €239,619 | €74,025 | ▼ 69.1% |
| Accrued charges and deferred income492/3 | - | €94,730 | €7,888 | €11,706 | €4,303 | ▼ 63.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €106,954 | €257,674 | -€31,747 | -€34,101 | -€17,704 | ▲ 48.1% |
| + Depreciation and write-downs630 | €53,724 | €45,808 | €54,947 | €58,855 | €58,077 | ▼ 1.3% |
| Operating cash flow (approximation) | €160,678 | €303,481 | €23,200 | €24,755 | €40,374 | ▲ 63.1% |
| Investment in fixed assets (approximation) | - | -€67,692 | -€359,341 | €9,218 | €24,351 | ▲ 164% |
| Change in cash | - | -€305,269 | -€774 | €12,637 | €55,619 | ▲ 340% |
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
Next filing, fiscal year 2026, expected by
2025
27-10
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2024
24-10
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
31-03
Financial
Weakest financial yearnet -€34,101
Net result drops to -€34,101, the lowest in the series; recovery starts the following year.
2023
26-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2022
28-10
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
31-03
Financial
Highest result since 2019net €257,674 ▲141%
Operating result €377,597, net result €257,674, both a record.
31-03
Financial
Liquidity doublescurrent ratio 4.54
Current ratio from 1.99 to 4.54; short-term debt falls from €411,619 to €169,262.
2021
28-10
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
31-03
Financial
Equity above €1mEq €1.1m ▲11%
3 profitable years in a row build equity to €1.1m.
2020
26-11
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 26 days late
2019
31-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
30-10
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
31-10
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
29-09
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.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Roeselare · 1 establishment unit since 2010
Ground area
2,085 m²
Building footprint
270 m²
Volume, LiDAR
1,492 m³
2 parcels, Flanders · tallest building 8.0 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Proxy Delhaize
since 20102.178.707.496
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36505C1001/00F000 | Flanders | 1,820 m² | 1 · 270 m² | 8.0 m · 2 fl. |
| 34353H1122/00F000 | Flanders | 265 m² | - | - |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 10,510 companies in sector 47110 we hold annual accounts for 5,850. 2,278 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded20-05-2009
Fiscal year end31-03
Activities, NACEBEL 2025
47110Non-specialised retail sale with food, beverages or tobacco predominating
E-invoicing
Reachable via Peppol
Peppol ID
0208:0811899205
Registered
27-03-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.