Equity
€678,245 ▲ 23.3%
Marginet has made a profit in every financial year since 2022.
Marginet
Overview
Lifetime
4 annual accounts with figures on one time axispeak €357,369 (2022)
€212,456▲ 5.6%
peak €250,612 (2022)
€128,832▲ 5.6%
peak €678,245 (2025)
€678,245▲ 23.3%
€60,665▼ 14.0%
peak 0 FTE (2023)
-not published
Board2 names since 2021
1 directorMARGINET Hannes
Documentsfilings and deeds
21-05-202671 days before the deadline
2025abbreviated format
Equity from €550,013 to €678,245Cash from €342,834 to €494,055
Key points
from the 2025 annual accountsTurnover
≈ €680,000 estimated
The abbreviated format states no turnover.
Position in the sector
91.8%
Higher solvency than 95% of companies in specialised construction. Sector median 44.0% · 9,967 companies.
Checked score
98
Excellent
Financially stronger than 84% of micro companies in specialised construction (NACE 43)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
< 0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.7% across 47,701 companies (NACE 43, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.2%highest value
01-2025: 0.1%▼ -0.1 percentage points vs 12-2024
02-2025: 0.1%● unchanged vs 01-2025
03-2025: 0.1%● unchanged vs 02-2025
04-2025: 0.1%● unchanged vs 03-2025
05-2025: 0.1%● unchanged vs 04-2025
06-2025: 0.1%● unchanged vs 05-2025
07-2025: 0.1%● unchanged vs 06-2025
08-2025: 0.1%● unchanged vs 07-2025
09-2025: 0.1%● unchanged vs 08-2025
10-2025: 0.1%● unchanged vs 09-2025
11-2025: 0.1%● unchanged vs 10-2025
12-2025: 0.1%● unchanged vs 11-2025
01-2026: 0.1%● unchanged vs 12-2025
02-2026: 0.1%● unchanged vs 01-2026
03-2026: 0.1%● unchanged vs 02-2026
04-2026: 0.1%● unchanged vs 03-2026
05-2026: 0.1%● unchanged vs 04-2026
06-2026: 0.1%● unchanged vs 05-2026
07-2026: 0.1%● unchanged vs 06-2026
08-2026: < 0.1%▼ -0.1 percentage points vs 07-2026lowest value
09-2026: < 0.1%● unchanged vs 08-2026lowest value
10-2026: < 0.1%● unchanged vs 09-2026
11-2026: < 0.1%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
raises risk
Founded in 2021
lowers risk
Liquidity: current ratio 14.91, cash €494,055
Equity €678,245 (91.8% of total assets)
Size: total assets €738,910
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 43, micro). It does better than 90% of them on solvency, 98% on liquidity, 76% on profitability and 70% on growth.
The bankruptcy probability was computed on 07-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 6,782 companies had the same profile as Marginet has now. Each dot stands for 17 companies, two years later.
96.7%
were still trading
2.7%
stopped another way
0.6%
went bankrupt
That fits the bankruptcy probability of Marginet itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 6,782 companies, not a prediction for Marginet. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €65,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 14.91 (13.14 in 2024), above the usual 1.5. Short-term debt is 6.1% and cash 66.9% of total assets. 8.2% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 21-05-2026, 71 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
71 days early
2024
62 days early
2023
79 days early
2022
14 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 4 accounts on average 57 days before the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 26 May (3 of the last 4 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
08-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- MARGINET Geert 30 sharesdeed of 29-04-2021
- MARGINET Hannes 30 sharesdeed of 29-04-2021
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0767533680
Resignation: Geert Marginet (director)
General meeting of 14-09-2022 · Gazette deed
First establishment
Nederhasseltstraat 332, Ninove
Incorporation
Founding capital of €60,000, 60 shares · Founders: MARGINET Geert and MARGINET Hannes · Appointments: MARGINET Geert (director) and MARGINET Hannes (director) · published on 29-04-2021 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| Marginet Ninove | €738,910 | €212,456 | 91.8% | - |
| LEC ENERGY SOLUTIONS Dendermonde | €847,802 | €215,096 | 57.9% | 1.7 |
| MORY STEVEN Denderleeuw | €707,228 | €210,332 | 32.1% | - |
| GH-Groep Sint-Niklaas | €778,052 | €171,161 | 35.9% | - |
| CHAUTEC Sombreffe | €676,405 | €207,272 | 33.8% | - |
| Nagels Thermoservice Lier | €838,648 | €213,258 | 40.0% | - |
| Sanitair en Verwarming Koether Lorenz Ypres | €755,036 | €253,591 | 40.7% | - |
These companies have the same main activity as Marginet: installation of electric heating, air conditioning, cooling and ventilation (NACE 43222). They are comparable in size and age: total assets between €676,000 and €848,000, founded between 2020 and 2022.
Official details
Source: KBO- Status
- Active since 27-04-2021Normal situation
- Activity
- Installation of electric heating, air conditioning, cooling and ventilationNACE 43222and 5 others
- Establishment unit
- 2.316.623.7799404 Ninove, since 01-05-2021
- Financial year end
- 31 December
- Peppol
- Reachable since 07-11-2026
Annual accounts 2025
- €212,456▲ 5.6%
- €128,832▲ 5.6%
- €678,245▲ 23.3%
- €738,910▲ 19.1%
- Filing
- Filed on 21-05-2026, 71 days before the end of the filing period
Insights on Marginet
Marginet files the abbreviated format. That format states no turnover. The gross margin fell from €357,369 in 2022 to €212,456 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Financials
Annual accounts 2025
abbreviated format, filed on 21-05-2026, 71 days before the deadline€212,456
▲ 5.6%
€180,385
▲ 8.8%
€128,832
▲ 5.6%
€629,781
▲ 28.7%
91.8%
▲ 3.2 percentage points
14.91
▲ 1.77
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €680,000. Estimated: probably between €550,000 and €990,000.
Balance sheet
balance sheet total €738,910 on 31-12-2025What the company ownsHow it is paid for
in euro
in euro
Position in the sector
91.8%
Higher than 95% of 9,967 companies in 2025.
14.91
Higher than 95% of 9,830 companies in 2025.
17.4%
Higher than 83% of 9,899 companies in 2025.
Marginet
Middle half of the sector
80% of the sector
Abbreviated accounts in specialised construction (NACE 43)
Net result: top quarter · Equity: top quarter · Balance sheet total: middle half · Working capital: top quarter
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet: assets | |||||
20/58 |
738,910 | 620,568 | 506,744 | 434,467 | |
21/28 |
63,859 | 90,974 | 118,463 | 140,001 | |
22/27 |
63,859 | 90,974 | 118,463 | 140,001 | |
23 |
6,161 | 5,724 | 8,644 | 9,210 | |
24 |
55,672 | 82,485 | 106,315 | 130,791 | |
26 |
2,027 | 2,765 | 3,504 | - | |
29/58 |
675,052 | 529,594 | 388,281 | 294,466 | |
3 |
54,033 | 46,877 | 47,947 | 77,020 | |
30/36 |
49,033 | 46,877 | 47,947 | 77,020 | |
37 |
5,000 | - | - | - | |
40/41 |
120,914 | 130,469 | 78,912 | 76,540 | |
40 |
114,811 | 105,017 | 56,696 | 36,876 | |
41 |
6,102 | 25,453 | 22,216 | 39,664 | |
54/58 |
494,055 | 342,834 | 253,925 | 134,345 | |
490/1 |
6,050 | 9,413 | 7,497 | 6,561 | |
| Balance sheet: equity and liabilities | |||||
10/49 |
738,910 | 620,568 | 506,744 | 434,467 | |
10/15 |
678,245 | 550,013 | 428,581 | 310,612 | |
10/11 |
60,000 | 60,000 | 60,000 | 60,000 | |
13 |
617,045 | 488,213 | 366,181 | 250,612 | |
133 |
617,045 | 488,213 | 366,181 | 250,612 | |
15 |
1,200 | 1,800 | 2,400 | - | |
17/49 |
60,665 | 70,554 | 78,163 | 123,855 | |
17 |
15,394 | 30,205 | 44,453 | 58,162 | |
170/4 |
15,394 | 30,205 | 44,453 | 58,162 | |
42/48 |
45,271 | 40,298 | 33,709 | 65,685 | |
42 |
14,810 | 14,249 | 13,708 | 13,188 | |
44 |
12,370 | 24,344 | 14,558 | 49,475 | |
440/4 |
12,370 | 24,344 | 14,558 | 49,475 | |
45 |
18,090 | 1,706 | 5,443 | 3,021 | |
450/3 |
18,090 | 1,706 | 5,443 | 3,021 | |
492/3 |
0 | 51 | 0 | 8 | |
| Income statement | |||||
9900 |
212,456 | 201,282 | 193,206 | 357,369 | |
62 |
- | - | 0 | 749 | |
630 |
30,006 | 31,004 | 31,688 | 9,111 | |
640/8 |
2,064 | 4,421 | 2,379 | 1,605 | |
66A |
- | - | 0 | 170 | |
9901 |
180,385 | 165,857 | 159,138 | 345,734 | |
75/76B |
5,941 | 11,402 | 7,022 | 7,265 | |
75 |
5,941 | 11,402 | 7,022 | 7,265 | |
65/66B |
2,616 | 3,457 | 2,828 | 1,112 | |
65 |
2,616 | 3,457 | 2,828 | 1,112 | |
9903 |
183,711 | 173,802 | 163,332 | 351,887 | |
67/77 |
54,879 | 51,770 | 47,763 | 101,275 | |
9904 |
128,832 | 122,032 | 115,569 | 250,612 | |
9905 |
128,832 | 122,032 | 115,569 | 250,612 | |
| Appropriation of the result | |||||
9906 |
128,832 | 122,032 | 115,569 | 250,612 | |
691/2 |
128,832 | 122,032 | 115,569 | 250,612 | |
6921 |
128,832 | 122,032 | 115,569 | 250,612 | |
| Social balance sheet | |||||
9087 |
- | - | 0 | - | |
| Document | |||||
The notes to these accounts have 12 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 21-05-2026.
Filings
each dot is a set of accounts, on the day it reached the National BankSubsidies and aid
Flemish government 2022 to 2023, 3 entries, €4,327 awarded, €4,327 paid
| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2023 | 2 | €3,971 | €3,971 |
| 2022 | 1 | €356 | €356 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| 210,392 | 196,861 | 190,827 | 354,845 | ||
| 158,838 | 153,036 | 147,257 | 259,723 | ||
| 2,891 | 10,159 | 12,688 | 149,112 | ||
| 151,221 | 88,910 | 119,580 | - | ||
| 629,781 | 489,295 | 354,572 | 228,781 | ||
| 91.8% | 88.6% | 84.6% | 71.5% | ||
| 14.91 | 13.14 | 11.52 | 4.48 | ||
| 13.72 | 11.98 | 10.10 | 3.31 | ||
| 0.09 | 0.13 | 0.18 | 0.40 | ||
| 19.0% | 22.2% | 27.0% | 80.7% | ||
| 17.4% | 19.7% | 22.8% | 57.7% | ||
| 80.44 | 56.95 | 67.48 | over 100 |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Tangible fixed assets | €2,891 | €10,159 | €12,688 | €149,112 |
| €30,006 | €31,004 | €31,688 | €9,111 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Insights on Marginet
The operating result for 2025 is 9% higher than in 2024 and the highest since 2022. It is the second rise in a row, after the fall in 2023.
Debt's share of the balance-sheet total falls from 11.4% to 8.2%. Equity is higher and debt is lower.
Board & ownership
Board
1 director, no change since 2022Director (not named in the articles)
appointed by deed of 29-04-2021
term without a fixed end
listed in the 2025 annual accounts, filed on 21-05-2026
- Signing authorityThe articles say who may bind the company, for example by signing a contract.
- Each director alonedeed of 29-04-2021
Mandates through the years
2 names, the dashed line is todayMARGINET Hannes
Director (not named in the articles)
Director (not named in the articles)
Geert Marginet
Director (not named in the articles)
Director (not named in the articles)
BoardEarlier
Mandates as a list
- MARGINET Hannes
- Director (not named in the articles), appointed by deed of 29-04-2021, still in office
- Geert Marginet
- Director (not named in the articles), from 26-04-2021 to 24-11-2022
Control
Founders
This company
Marginet
Equity €678,245
Profit €128,832 in 2025
Capital
- Contribution
- €60,000
- Shares
- 60
- Contribution per share
- €1,000
- Equity per share
- €11,304 in 2025
- Source
- deed of 29-04-2021
Articles of association
deed of 29-04-2021 (in Dutch)- Board ruleThese rules set how the board is made up, meets and takes decisions.
- At least 1 director
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Third Wednesday of June at 11:00
- Statutory auditorA statutory auditor is a registered auditor who checks the annual accounts. Small companies need not have one. According to the deed, the legal criteria do not require one here.
- No statutory auditor
Shareholders
At incorporation
deed of 29-04-2021 ↗
- MARGINET Geert 30 shares (50%)
- MARGINET Hannes 30 shares (50%)
Network & group
No group
Marginet has no parent and no holdings in its annual accounts. MARGINET Hannes is the only director. Marginet shares no director with another company.
Timeline
Timeline
11 events since 2021Board
Filings
Financial
Establishments
202220242026
Deadline for the 2026 accounts: 31-07-2027
2026
Registered in the Peppol Directory Reachable for e-invoices through 0208:0767533680
Annual accounts 2025 filed PDFabbreviated format · 71 days before the deadline
2025
Annual accounts 2024 filed PDFabbreviated format · 62 days before the deadline
2024
Equity above €500,000 equity €550,013 ▲28.3% With a profit in every financial year since 2022, equity grows to €550,013.
Annual accounts 2023 filed PDFabbreviated format · 79 days before the deadline
2023
Weakest financial year net €115,569 ▼53.9% The net result drops to €115,569, the lowest from 2022 to 2025. It recovers the following year.
Liquidity more than doubled current ratio 11.52 The current ratio rises from 4.48 to 11.52. Short-term debt falls from €65,685 to €33,709.
Annual accounts 2022 filed PDFabbreviated format · 14 days before the deadline
2022
- General meeting, 14-09-2022
- Director resignation, Geert Marginet
2021
First establishment Nederhasseltstraat 332, Ninove
IncorporationFounding capital of €60,000, 60 shares · Founders: MARGINET Geert and MARGINET Hannes · Appointments: MARGINET Geert (director) and MARGINET Hannes (director) · published on 29-04-20216 points ▸
- Registered office clause, Nederhasselstraat 332, 9404 Aspelare (Ninove)
- Director appointment, MARGINET Geert (director (not named in the articles))
- Director appointment, MARGINET Hannes (director (not named in the articles))
- Founder, MARGINET Geert
- Founder, MARGINET Hannes
- Founding capital, €60,000, 60 shares
- The deed holds 4 more points.
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
History
Marginet was incorporated on 27 April 2021 as a private limited company by two natural persons, with a starting capital of €60,000.12 MARGINET Hannes is director of the company, appointed by deed of 29-04-2021.2 Total assets rose from €434,467 in 2022 to €738,910 in 2025.3
Company details
Identity
- Enterprise number
- 0767.533.680
- VAT number
- BE 0767.533.680
- Peppol ID
- 0208:0767533680
- Legal form
- Private limited company
- Status
- Active, normal situation
- Founded
- 27-04-2021
- Financial year
- ends on 31 December
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Third Wednesday of June at 11:00deed of 29-04-2021 (in Dutch)
- Peppol
- Reachable since 07-11-2026Follow this company and you will hear the next morning if it leaves the Peppol register.
- Name
- Marginet in Dutch
- Entity type
- Legal entity
- Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
- “Vlaams Gewest”deed of 29-04-2021 (in Dutch)
Activities
NACEBEL 202543222
Installation of electric heating, air conditioning, cooling and ventilation main activity
43221
Plumbing work
Codes under NACEBEL 2008
43222
Specialised construction activities main activity
28250
Manufacture of machinery and equipment not elsewhere classified
43211
Specialised construction activities
43212
Specialised construction activities
43221
Plumbing
81220
Other building cleaning and industrial cleaning
- PurposeThe purpose describes the activities the company may carry out under its articles.
- “Het onderhoud en de reparatie van verwarmings-,sanitaire en elektrische installaties; Vervaardigen van metalen werkstukken voor rekening van…”deed of 29-04-2021 (in Dutch)
11 activities
- Het onderhoud en de reparatie van verwarmings-,sanitaire en elektrische installaties
- Vervaardigen van metalen werkstukken voor rekening van derden
- Onderhouds- en herstellingswerken van mechanische aard voor rekening van derden
- Vervaardiging van meubels
- Grondverzet
- Uitvoeren van boringen voor het leggen van kabels,aanleg van pijpleidingen,telecomleidingen en hoogspanningsleidingen
- Installatie van stores,en zonneschermen,garagepoorten,luiken,zonneblinden in metaal
- Handelsbemiddeling in bouwmaterialen,elektrisch en elektronisch materiaal,loodgietersmateriaal,elektrisch installatiemateriaal voor huishoudelijk gebruik en verwarmingsinstallaties
- Reparatie van elektrische huishoudapparaten
- Toezien op bouwwerkzaamheden
- Schoorsteenvegen en het schoonmaken van vuurplaatsen,kachels,ovens,ketels van centrale verwarming,ventilatiekanalen en uitlaatsystemen
Registered office and establishments
1 establishment| Establishment | Since | Unit number |
|---|---|---|
| Nederhasseltstraat 332 registered office 9404 Ninove | 01-05-2021 | 2.316.623.779 |
Buildings and parcels at the address
- Ground area
- 1,266 m²
- Buildings
- 118 m²
- Volume, LiDAR
- 1 m³
- Tallest building
- 0.5 m
Buildings to scale, each on its own parcel
Parcels
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 41004A0222/00L000 | 1,266 m² | 1 · 118 m² | 0.5 m |
Invoicing and payment
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0767.533.680