MARFA FIREWORKS
ActiveMARFA FIREWORKS has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.06M and a net result of €137k. Equity is growing by ~22.6% per year across the filed fiscal years. Its solvency ranks better than 69% of 10242 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
100
/ 100
Excellent▲ +7 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability65=
Solvency96▲+1
Growth78=
Stability100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €110k at 30 days acceptable
Liquidity ample (current ratio 1.9 against 1.88 in 2024), and 43.1% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six 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 · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
56.9%
Return on assets
7.3%
Age of the figures
8 mo
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 · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 29-08-2026, 29 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 · 10 filingsDeviation from the deadline
2025
29 d late
2024
28 d late
2023
61 d late
2022
6 d early
2021
61 d late
2020
30 d late
2019
66 d late
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
15-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€1.06M▲ 14.8%
2024 · €924k
2018: €238k
2019: €278k
2020: €306k
2021: €510k
2022: €640k
2023: €803k
2024: €924k
2018 → 2025
Total assets
€1.86M▲ 14.6%
2024 · €1.63M
2018: €933k
2019: €955k
2020: €778k
2021: €1.62M
2022: €1.51M
2023: €1.45M
2024: €1.63M
2018 → 2025
Net result
€137k▲ 13.8%
2024 · €120k
2018: €34k
2019: €40k
2020: €28k
2021: €204k
2022: €130k
2023: €163k
2024: €120k
2018 → 2025
Working capital
€662k▲ 24.1%
2024 · €533k
2018: €-129k
2019: €-85k
2020: €-61k
2021: €139k
2022: €263k
2023: €422k
2024: €533k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€510k-€640k▲ 25.4%€803k▲ 25.5%€924k▲ 15.0%€1.06M▲ 14.8%
Operating result€298k-€189k▼ 36.6%€238k▲ 25.5%€177k▼ 25.6%€199k▲ 12.6%
Net result€204k-€130k▼ 36.4%€163k▲ 25.9%€120k▼ 26.3%€137k▲ 13.8%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 13% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.86M
Fixed assets
€471k▼ 3.1%
Current assets
€1.39M▲ 22.1%
Equity and liabilities €1.86M
Equity
€1.06M▲ 14.8%
Debt
€804k▲ 14.2%
The debt ratio falls from 43.3% to 43.1%: equity grows faster than debt.
Key figures and ratios
EBITDA
€214k▲
2024 · €192k
Cash flow
€152k▲
2024 · €136k
Solvency
56.9%▲
2024 · 56.7%
Current ratio
1.90▲
2024 · 1.88
Quick ratio
1.90▲
2024 · 1.88
Debt / equity
0.76▼
2024 · 0.76
ROE
12.9%▼
2024 · 13.0%
ROA
7.3%▼
2024 · 7.4%
Interest coverage
17.80▲
2024 · 17.06
Debt
€804k▲
2024 · €704k
Debt ≤ 1 year
€732k▲
2024 · €608k
Debt > 1 year
€72k▼
2024 · €95k
Income taxes
€50k▲
2024 · €45k
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 · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€1.63M€1.86M▲
Fixed assets21/28€486k€471k▼
Tangible fixed assets22/27€192k€177k▼
Land and buildings22€192k€177k▼
Financial fixed assets28€294k€294k=
Current assets29/58€1.14M€1.39M▲
Amounts receivable within one year40/41€407k€131k▼
Trade receivables40€130k€131k▲
Other amounts receivable41€277k€0▼
Cash at bank and in hand54/58€733k€1.26M▲
Deferred charges and accrued income490/1€1k€1k▲
Equity and liabilities
Total equity and liabilities10/49€1.63M€1.86M▲
Equity10/15€924k€1.06M▲
Contributions10/11€120k€120k=
Reserves13€12k€12k=
Tax-exempt reserves132€68€68=
Distributable reserves133€12k€12k=
Profit (loss) carried forward14€792k€929k▲
Amounts payable17/49€704k€804k▲
Amounts payable after more than one year17€95k€72k▼
Financial debts170/4€95k€72k▼
Amounts payable within one year42/48€608k€732k▲
Current portion of amounts payable after more than one year42€22k€24k▲
Trade debts44€508k€556k▲
Suppliers440/4€508k€556k▲
Taxes, remuneration and social security45€77k€145k▲
Taxes450/3€77k€145k▲
Other amounts payable47/48-€8k
Accrued charges and deferred income492/3€517€418▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€15k€15k=
Other operating charges640/8€5k€5k▲
Gross operating margin9900€197k€219k▲
Operating profit (loss)9901€177k€199k▲
Financial income75/76B€0€0▲
Recurring financial income75€0€0▲
Financial charges65/66B€11k€12k▲
Recurring financial charges65€11k€12k▲
Profit (loss) for the period before taxes9903€165k€187k▲
Income taxes67/77€45k€50k▲
Profit (loss) for the period9904€120k€137k▲
Profit (loss) for the period to be appropriated9905€120k€137k▲
Appropriation of the result
Profit (loss) to be appropriated9906€792k€929k▲
Profit (loss) brought forward from the previous period14P€671k€792k▲
Social balance
Average headcount (FTE)90870.00.0=
The notes to these accounts (22 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
2026
29-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 29 days late
2025
31-12
Financial
Equity above €1MEq €1.06M ▲14.8%
8 profitable years in a row build equity to €1.06M.
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 28 days late
2024
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 61 days late
2023
25-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-09
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 61 days late
2021
31-12
Financial
Highest result since 2018net €204k ▲624%
Operating result €298k, net result €204k, both a record.
31-12
Financial
Equity above €500kEq €510k ▲66.6%
4 profitable years in a row build equity to €510k.
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 30 days late
2020
31-12
Financial
Weakest financial yearnet €28k ▼30.4%
Net result drops to €28k, the lowest in the series; recovery starts the following year.
05-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 66 days late
2019
30-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
30-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
26-07
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.
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, Olen · 1 establishment unit since 2009
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.
Lammerdries-Zuid 16 a2250 OlenGround area
7,104 m²
Building footprint
1,000 m²
Volume, LiDAR
4,027 m³
2 parcels, Flanders · tallest building 5.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MARFA FIREWORKS
since 20092.182.622.734
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 73048B0543/00B000 | Flanders | 4,165 m² | 1 · 202 m² | 5.0 m · 2 fl. |
| 13029E0546/00A000 | Flanders | 2,939 m² | 1 · 798 m² | 5.2 m · 1 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 1,306 companies in sector 47639 we hold annual accounts for 618. 306 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded13-07-2009
Fiscal year end31-12
Activities, NACEBEL
47639Retail sale of other sporting goods
47640Retail sale of games and toys
47650Retail trade
Sources
Crossroads Bank for EnterprisesNational Bank · 16 filingsAddress and cadastre registers
Data from official sources, last processed on 14-09-2026. Scores and ratios are computed by Checked and are not a credit decision.