Checked.be
Active
BE 0412.622.657Private limited company
Marga
Antwerpsestraat 2 ·2640 Mortsel, Belgium· 54 yrs active
Sector: Retail trade
(47722)
Conclusion
Marga has been active since 1972 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €91k and a net result of €2k. Equity is growing by ~5.8% per year across the filed fiscal years. Its solvency ranks better than 63% of 17540 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €91k |
| Net result | €2k |
| Better than sector | 63% |
| Active | 54 yrs |
Financial profile
69
/ 100
Strong profile, led by stability.
All 5 axes are computed from data Checked has read.
Health
69
Profitability
12
Solvency
85
Growth
78
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 1972, 54 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
69
/ 100
Healthy
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€6k
estimate, not credit advice
Score history
38
2021
72
2022
72
2023
71
2024
69
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 1.56 (≥ 1.5)
+10
Quick ratio
Quick ratio 0.08 (< 0.6)
-5
Leverage
Debt/equity 1.01 (< 2.0)
+3
Profitability
ROE 2%
+3
Interest coverage
Interest coverage 3.0× (≥ 3×)
+8
Profit trend
Net profit down YoY
-3
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 27-03-2026 with the NBB · fiscal year 2025 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~5.8%/year over 5 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 47, Retail trade · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 49.7% | 34.6% | |
| Net result | €2k | €5k | |
| Equity | €91k | €44k | |
| Gross operating margin | €14k | €34k | |
| Total assets | €184k | €153k |
€13k
-7.7%
21-25
€2k
-67.4%
21-25
€9k
+11.7%
21-25
€184k
+17.3%
21-25
€91k
+2.5%
21-25
€52k
-38.8%
21-25
€92k
+37.0%
21-25
€92k
+37.0%
21-25
1.56
-30.7%
21-25
0.08
-25.4%
21-25
49.7%
-12.7%
21-25
1.01
+33.7%
21-25
2.4%
-68.2%
21-25
1.2%
-72.2%
21-25
3.01
+35.2%
21-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | micro schema | micro schema |
| Revenue | - | - | - | - | - |
| EBITDA | €13k | €15k | €15k | €13k | €-29k |
| Net profit | €2k | €7k | €7k | €1k | €-41k |
| Cash flow | €9k | €8k | €8k | €6k | €-36k |
| Staff costs | - | - | - | - | - |
| Income taxes | - | - | - | - | - |
| Dividends | - | - | - | - | - |
| Total assets | €184k | €157k | €170k | €154k | €173k |
| Equity | €91k | €89k | €82k | €76k | €74k |
| Debt | €92k | €67k | €87k | €78k | €99k |
| of which ≤ 1y | €92k | €67k | €87k | €78k | €99k |
| of which > 1y | - | - | - | - | - |
| Working capital | €52k | €84k | €76k | €69k | €64k |
| Employees (FTE) | - | - | - | - | - |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 1.56 | 2.25 | 1.87 | 1.89 | 1.65 |
| Quick ratio | 0.08 | 0.11 | 0.10 | 0.06 | 0.02 |
| Working capital ratio | 28.0% | 53.7% | 44.8% | 45.1% | 37.0% |
| Solvency | 49.7% | 57.0% | 48.6% | 49.2% | 42.9% |
| Debt / equity | 1.01 | 0.76 | 1.06 | 1.03 | 1.33 |
| Long-term debt ratio | - | - | - | - | - |
| Interest coverage | 3.01 | 2.23 | 1.84 | 1.72 | -3.81 |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | 1.2% | 4.3% | 4.0% | 0.8% | -23.7% |
| ROE | 2.4% | 7.6% | 8.3% | 1.7% | -55.3% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (23 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €184k | €157k | €170k | €154k | €173k |
| Fixed assets | 21/28 | €40k | €5k | €6k | €6k | €10k |
| Tangible fixed assets | 22/27 | €37k | €2k | €3k | €4k | €8k |
| Financial fixed assets | 28 | €3k | €3k | €3k | €2k | €2k |
| Current assets | 29/58 | €144k | €152k | €163k | €147k | €163k |
| Stocks & contracts in progress | 3 | €137k | €144k | €155k | €143k | €161k |
| Amounts receivable within one year | 40/41 | €302 | €2k | €5k | - | €59 |
| Cash & bank | 54/58 | €6k | €4k | €3k | €4k | €1k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €184k | €157k | €170k | €154k | €173k |
| Equity | 10/15 | €91k | €89k | €82k | €76k | €74k |
| Contributions / capital | 10/11 | €19k | €19k | €19k | €19k | €19k |
| Reserves | 13 | €73k | €71k | €130k | €130k | €130k |
| Accumulated profits (losses) | 14 | - | - | €-67k | €-73k | €-75k |
| Amounts payable | 17/49 | €92k | €67k | €87k | €78k | €99k |
| Amounts payable within one year | 42/48 | €92k | €67k | €87k | €78k | €99k |
| Trade debts payable within one year | 44 | €2k | €9k | €7k | €4k | €14k |
| Income statement | ||||||
| Gross operating margin | 9900 | €14k | €15k | €15k | €15k | €-28k |
| Operating result | 9901 | €7k | €13k | €13k | €9k | €-34k |
| Financial income | 75 | €122 | €119 | €1k | €45 | €204 |
| Financial charges | 65 | €4k | €7k | €8k | €8k | €7k |
| Result before taxes | 9903 | €2k | €7k | €7k | €1k | €-41k |
| Net result for the period | 9904 | €2k | €7k | €7k | €1k | €-41k |
| Result to be appropriated | 9905 | €2k | €7k | €7k | €1k | €-41k |
Legal Structure
| NACE primary | Retail trade(47722) |
| Legal form | Private limited company(610) |
| Incorporation | 05-09-1972 |
| Status | Active |
| Postal code | 2640 |
Establishment units
Marga
since 19832.023.307.954
Marga
since 20152.242.306.834
Real-estate footprint
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11512B0069/00D003 | Flanders | 276 m² | 1 · 219 m² | 14.8 m · 2 fl. |
| 11512B0057/00T002 | Flanders | 158 m² | 1 · 158 m² | 14.0 m · 3 fl. |
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.
Updates
Next filing, fiscal year 2026, expected by
2026
27-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
17-03
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
26-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-09
Financial
Highest result since 2021net €7k ▲440%
Operating result €13k, net result €7k, both a record.
15-03
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-09
Financial
Back to profitnet €1k
Net result €1k after one loss-making year.
28-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
21-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
06-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
17-12
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
27-12
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
22-12
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.
Belgian State Gazette reading coverage
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
Retail trade47722
Names & trade names
| Legal nameNL | Marga |
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