MAREX SUBSEA
BankruptcyThe KBO register records for MAREX SUBSEA the legal situation: open bankruptcy (code 050); this is today's state according to the register itself, which carries no start date. The 2023 annual accounts show equity of €291k and a net result of €7k.
Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2023 was due by 31-07-2024 and was filed on 29-10-2024, 90 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 6 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
90 d late
2022
60 d late
2021
28 d late
2020
30 d late
2019
92 d late
← before the deadline
after the deadline →
Financials · fiscal year 2023, micro schema
Turnover
€426k▲ 33.3%
2019 · €320k
2018: €304k
2019: €320k
2018 → 2020
EBIT margin
8.8%▼ 13.3pp
2019 · 22.1%
2018: 22.6%
2019: 22.1%
2018 → 2020
Net result
€7k▼ 94.8%
2022 · €127k
2018: €46k
2019: €49k
2020: €28k
2021: €16k
2022: €127k
2018 → 2023
Working capital
€199k▼ 64.9%
2022 · €566k
2018: €38k
2019: €80k
2020: €64k
2021: €91k
2022: €566k
2018 → 2023
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20192020202120222023Trend
Turnover€320k-€426k▲ 33.3%
Equity€114k-€142k▲ 24.9%€158k▲ 11.2%€285k▲ 80.6%€291k▲ 2.3%
Operating result€71k-€38k▼ 46.7%€39k▲ 3.0%€183k▲ 372%€13k▼ 92.8%
Net result€49k-€28k▼ 42.2%€16k▼ 44.0%€127k▲ 702%€7k▼ 94.8%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2023; 2023 is 93% below 2022 and is the lowest result in the available series.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €702k
Fixed assets
€132k▲ 55.7%
Current assets
€570k▼ 22.1%
Equity and liabilities €702k
Equity
€291k▲ 2.3%
Debt
€411k▼ 22.8%
The debt ratio falls from 65.1% to 58.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€43k▼
2022 · €210k
Cash flow
€36k▼
2022 · €154k
Solvency
41.5%▲
2022 · 34.9%
Current ratio
1.54▼
2022 · 4.41
Quick ratio
1.54▼
2022 · 4.41
Debt / equity
1.41▼
2022 · 1.87
ROE
2.3%▼
2022 · 44.6%
ROA
0.9%▼
2022 · 15.6%
Interest coverage
15.02▼
2022 · 147.55
Debt
€411k▼
2022 · €532k
Debt ≤ 1 year
€371k▲
2022 · €166k
Debt > 1 year
€40k▲
2022 · €2k
Income taxes
€4k▼
2022 · €55k
Staff costs
€84k▲
2022 · €77k
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 · 2023 against 2022
Balance sheet
Code20222023
Assets
Total assets20/58€817k€702k▼
Fixed assets21/28€85k€132k▲
Tangible fixed assets22/27€84k€131k▲
Plant, machinery and equipment23€72k€56k▼
Furniture and vehicles24€12k€75k▲
Financial fixed assets28€1k€1k=
Current assets29/58€732k€570k▼
Amounts receivable within one year40/41€532k€189k▼
Trade receivables40€451k€91k▼
Other amounts receivable41€81k€98k▲
Cash at bank and in hand54/58€199k€381k▲
Equity and liabilities
Total equity and liabilities10/49€817k€702k▼
Equity10/15€285k€291k▲
Contributions10/11€19k€19k=
Reserves13€257k€257k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€255k€255k=
Profit (loss) carried forward14€9k€16k▲
Amounts payable17/49€532k€411k▼
Amounts payable after more than one year17€2k€40k▲
Financial debts170/4€2k€40k▲
Amounts payable within one year42/48€166k€371k▲
Current portion of amounts payable after more than one year42€5k€12k▲
Trade debts44€86k€162k▲
Suppliers440/4€86k€162k▲
Bills of exchange payable441-€0
Advances received on contracts in progress46-€125k
Taxes, remuneration and social security45€75k€71k▼
Taxes450/3€72k€60k▼
Remuneration and social security454/9€3k€11k▲
Accrued charges and deferred income492/3€364k-
Income statement
Code20222023
Remuneration, social security and pensions62€77k€84k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€27k€30k▲
Other operating charges640/8€568€59k▲
Gross operating margin9900€288k€186k▼
Operating profit (loss)9901€183k€13k▼
Financial charges65/66B€1k€3k▲
Recurring financial charges65€1k€3k▲
Profit (loss) for the period before taxes9903€182k€10k▼
Income taxes67/77€55k€4k▼
Profit (loss) for the period9904€127k€7k▼
Profit (loss) for the period to be appropriated9905€127k€7k▼
Appropriation of the result
Profit (loss) to be appropriated9906€159k€16k▼
Profit (loss) brought forward from the previous period14P€32k€9k▼
Transfer to equity691/2€150k-
To other reserves6921€150k-
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
2024
29-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 90 days late
2023
31-12
Financial
Weakest financial yearnet €7k ▼94.8%
Net result drops to €7k, the lowest in the series.
14-12
Judicial reorganisation
Practitioner designation
Tribunal de l’entreprise du Hainaut
29-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 60 days late
2022
31-12
Financial
Highest result since 2018net €127k ▲702%
Operating result €183k, net result €127k, both a record.
31-12
Financial
Liquidity doublescurrent ratio 4.41
Current ratio from 2.21 to 4.41.
31-12
Financial
Equity above €200kEq €285k ▲80.6%
5 profitable years in a row build equity to €285k.
28-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 28 days late
2021
31-12
Financial
Equity above €150kEq €158k ▲11.2%
4 profitable years in a row build equity to €158k.
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
31-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 92 days late
2019
31-12
Financial
Equity above €100kEq €114k ▲75.6%
2 profitable years in a row build equity to €114k.
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 29 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 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, Frameries · 1 establishment unit since 2017
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.
Rue Montavaux 1227080 FrameriesGround area
1,423 m²
Building footprint
134 m²
Volume, LiDAR
1,013 m³
2 parcels, Wallonia · tallest building 11.0 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
MAREX SUBSEA
since 20172.269.040.232
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 53045C1018/00M000 | Wallonia | 934 m² | 1 · 85 m² | 8.8 m · 2 fl. |
| 53028A0379/00A003 | Wallonia | 489 m² | 1 · 49 m² | 11.0 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
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 7,009 companies in sector 81220 we hold annual accounts for 2,413. 1,651 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded19-09-2017
Fiscal year end31-12
Activities, NACEBEL
43992Specialised construction activities
81220Other building cleaning and industrial cleaning
33110Repair and maintenance of fabricated metal products
71121Engineering and related technical consultancy, excluding land surveyors
Sources
Crossroads Bank for EnterprisesNational Bank · 6 filingsAddress and cadastre registers
Data from official sources, last processed on 17-09-2026. Scores and ratios are computed by Checked and are not a credit decision.