MARFA
ActiveSummary
MARFA has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €76k and a net result of €9k. Equity is growing by ~5.5% per year across the filed fiscal years. Its solvency ranks better than 94% of 18280 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
82
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability82▲+33
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6k at 30 days acceptable
Liquidity ample (current ratio 10.22 against 10.35 in 2024; short-term debt: 9.4% and cash: 16.4% of total assets), and 9.4% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Three 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
Sector 47
higher
← 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
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 30-10-2025, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
7 d early
2023
4 d early
2022
3 d early
2021
9 d early
2020
10 d late
2019
29 d early
← before the deadline
after the deadline →
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 close25-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, micro schema
Equity
€76k▼ 17.9%
2024 · €92k
2019: €62k
2020: €69k
2021: €80k
2022: €87k
2023: €88k
2024: €92k
2019 → 2025
Total assets
€84k▼ 17.9%
2024 · €102k
2019: €74k
2020: €76k
2021: €88k
2022: €100k
2023: €97k
2024: €102k
2019 → 2025
Net result
€9k▲ 90.5%
2024 · €5k
2019: €18k
2020: €7k
2021: €11k
2022: €6k
2023: €951
2024: €5k
2019 → 2025
Working capital
€73k▼ 18.3%
2024 · €89k
2019: €55k
2020: €65k
2021: €80k
2022: €84k
2023: €85k
2024: €89k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€80k-€87k▲ 8.0%€88k▲ 1.1%€92k▲ 5.5%€76k▼ 17.9%
Operating result€12k-€7k▼ 41.2%€-634€5k€11k▲ 118%
Net result€11k-€6k▼ 42.7%€951▼ 85.1%€5k▲ 408%€9k▲ 90.5%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 118% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €84k
Fixed assets
€3k ▼ 7.7%
Current assets
€81k ▼ 18.2%
Equity and liabilities €84k
Equity
€76k ▼ 17.9%
Debt
€8k ▼ 17.2%
Debt's share of the balance-sheet total rises from 9.3% to 9.4%. Equity and debt are lower.
Key figures and ratios
EBITDA
€11k▲
2024 · €5k
Cash flow
€9k▲
2024 · €5k
Current ratio
10.22▼
2024 · 10.35
Quick ratio
8.60▼
2024 · 8.90
Debt to equity
0.10▲
2024 · 0.10
ROE
12.1%▲
2024 · 5.2%
ROA
11.0%▲
2024 · 4.7%
Interest coverage
15.64▲
2024 · -38.02
Debt ≤ 1 year
€8k▼
2024 · €10k
Income taxes
€4k▲
2024 · €3k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 43 lines
Balance sheet
Code20242025
Assets
Total assets20/58€102k€84k▼
Fixed assets21/28€3k€3k▼
Tangible fixed assets22/27€1k€931▼
Plant, machinery and equipment23€1k€931▼
Financial fixed assets28€2k€2k=
Current assets29/58€98k€81k▼
Stocks and contracts in progress3€14k€13k▼
Stocks30/36€14k€13k▼
Amounts receivable within one year40/41€51k€54k▲
Other amounts receivable41€51k€54k▲
Cash at bank and in hand54/58€33k€14k▼
Deferred charges and accrued income490/1€391€545▲
Equity and liabilities
Total equity and liabilities10/49€102k€84k▼
Equity10/15€92k€76k▼
Contributions10/11€16k€16k=
Reserves13€51k€34k▼
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€49k€32k▼
Profit (loss) carried forward14€26k€26k=
Amounts payable17/49€10k€8k▼
Amounts payable within one year42/48€10k€8k▼
Trade debts44€4k€520▼
Suppliers440/4€4k€520▼
Taxes, remuneration and social security45€5k€7k▲
Taxes450/3€5k€7k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€149€270▲
Other operating charges640/8€2k€2k▼
Gross operating margin9900€7k€13k▲
Operating profit (loss)9901€5k€11k▲
Financial income75/76B€2k€3k▲
Recurring financial income75€2k€3k▲
Financial charges65/66B€-135€713▲
Recurring financial charges65€-135€713▲
Profit (loss) for the period before taxes9903€8k€13k▲
Income taxes67/77€3k€4k▲
Profit (loss) for the period9904€5k€9k▲
Profit (loss) for the period to be appropriated9905€5k€9k▲
Appropriation of the result
Profit (loss) to be appropriated9906€31k€35k▲
Profit (loss) brought forward from the previous period14P€26k€26k=
Transfer to equity691/2€5k€9k▲
To the legal reserve6920€5k-
To other reserves6921-€9k
The notes to these accounts (5 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
2025
30-10
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2024
24-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
27-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
31-03
Financial
Weakest financial yearnet €951 ▼85.1%
Net result drops to €951, the lowest in the series; recovery starts the following year.
2022
28-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2021
22-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2020
10-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 10 days late
2019
02-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
27-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
04-12
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 34 days late
2016
03-10
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 2 acts read
About the unread acts
We know of 2 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
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, Leuven · 1 establishment unit since 2008
Ground area
129 m²
Building footprint
129 m²
Volume, LiDAR
993 m³
Parcel 24434F0121/00L000, Flanders · tallest building 11.5 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Marfa
since 20082.171.131.501
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24434F0121/00L000 | Flanders | 129 m² | 1 · 129 m² | 11.5 m · 3 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteLeuven2.171.131.501
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Of 10,510 companies in sector 47110 we hold annual accounts for 5,851. 4,671 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded17-10-2007
Fiscal year end31-03
Activities, NACEBEL 2025
47110Non-specialised retail sale with food, beverages or tobacco predominating
Sources
Crossroads Bank for EnterprisesNational Bank · 17 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.