MARIMA
ActiveSummary
MARIMA has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €643,185 and a net result of €19,750. Equity is growing by ~11.2% per year across the filed fiscal years. Its solvency ranks better than 32% of 261 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability45▼-6
Solvency47▲+13
Growth78=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €30,000 at 30 days acceptable
Liquidity short (current ratio 0.2 against 0.14 in 2024; short-term debt: 30.1% and cash: 2.2% of total assets), and 78% of the assets are financed with debt.
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Signals
Four 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 61
Relative position
BE, all sectors
reference
Telecommunications (NACE 61)
about 159% more bankruptcies
← 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
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
22%
Return on assets
0.7%
Age of the figures
9 mo
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 05-07-2026, 26 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
26 d early
2024
119 d early
2023
9 d early
2022
31 d late
2021
29 d late
2020
8 d early
2019
4 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 15 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 47% of the sector filed late.
Checked, nothing found (2)
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
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
In the rankings
#4 company by total assets in West Flanders, Telecommunications sector#7 company by equity in West Flanders, Telecommunications sector
Equity
€643,185▲ 166%
2024 · €242,035
Total assets
€2.9m▲ 4.3%
2024 · €2.8m
Net result
€19,750▼ 73.3%
2024 · €74,020
Working capital
-€707,957▲ 29.0%
2024 · -€997,005
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€77,750▲ 17.0%-€27,159€95,012€228,055▲ 140%€138,356▼ 39.3%
Net result-€52,857-€66,011▼ 24.9%€36,823€74,020▲ 101%€19,750▼ 73.3%
Equity€197,203▼ 21.1%€131,192▼ 33.5%€168,015▲ 28.1%€242,035▲ 44.1%€643,185▲ 166%
Total assets€1.3m▲ 78.4%€2.4m▲ 84.8%€2.5m▲ 3.9%€2.8m▲ 11.1%€2.9m▲ 4.3%
Debt€1.1m▲ 133%€2.3m▲ 107%€2.3m▲ 2.5%€2.5m▲ 8.8%€2.3m▼ 11.0%
Working capital-€153,975▼ 12.1%-€301,771▼ 96.0%-€759,652▼ 152%-€997,005▼ 31.2%-€707,957▲ 29.0%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 39% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.9m
Fixed assets
€2.7m ▲ 4.0%
Current assets
€172,328 ▲ 10.2%
Equity and liabilities €2.9m
Equity
€643,185 ▲ 166%
Provisions
€9,118 ▼ 3.4%
Debt
€2.3m ▼ 11.0%
Debt's share of the balance-sheet total falls from 91.0% to 77.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€302,456▼
2024 · €379,733
Cash flow
€183,851▼
2024 · €225,697
Current ratio
0.20▲
2024 · 0.14
Debt to equity
3.53▼
2024 · 10.53
ROE
3.1%▼
2024 · 30.6%
ROA
0.7%▼
2024 · 2.6%
Interest coverage
3.11▼
2024 · 3.49
Debt ≤ 1 year
€880,284▼
2024 · €1.2m
Debt > 1 year
€1.3m▲
2024 · €1.3m
Income taxes
€21,535▼
2024 · €45,666
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €9,841 | €16,464 | €0 | €15,000 | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €56,477 | €178,797 | €200,218 | €151,677 | €164,101 | ▲ 8.2% |
| Other operating charges640/8 | €1,475 | €3,524 | €672 | €7,916 | €4,015 | ▼ 49.3% |
| Gross operating margin9900 | €135,702 | €155,162 | €295,902 | €387,649 | €306,471 | ▼ 20.9% |
| Operating profit (loss)9901 | €77,750 | -€27,159 | €95,012 | €228,055 | €138,356 | ▼ 39.3% |
| Financial income75/76B | €934 | €4,079 | €4,187 | €0 | - | - |
| Recurring financial income75 | €934 | €4,079 | €4,187 | €0 | - | - |
| Financial charges65/66B | €125,404 | €41,348 | €52,325 | €108,695 | €97,397 | ▼ 10.4% |
| Recurring financial charges65 | €29,813 | €41,348 | €52,325 | €108,695 | €97,397 | ▼ 10.4% |
| Non-recurring financial charges66B | €95,591 | €0 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | -€46,720 | -€64,429 | €46,873 | €119,360 | €40,959 | ▼ 65.7% |
| Transfer from deferred taxes780 | €326 | €326 | €326 | €326 | €326 | = |
| Income taxes67/77 | €6,462 | €1,908 | €10,376 | €45,666 | €21,535 | ▼ 52.8% |
| Profit (loss) for the period9904 | -€52,857 | -€66,011 | €36,823 | €74,020 | €19,750 | ▼ 73.3% |
| Transfer from tax-exempt reserves789 | €775 | €775 | €775 | €775 | €21,571 | ▲ 2,683% |
| Profit (loss) for the period to be appropriated9905 | -€52,082 | -€65,236 | €37,598 | €74,795 | €41,321 | ▼ 44.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.3m | €2.4m | €2.5m | €2.8m | €2.9m | ▲ 4.3% |
| Fixed assets21/28 | €1.1m | €2.1m | €2.4m | €2.6m | €2.7m | ▲ 4.0% |
| Tangible fixed assets22/27 | €1.1m | €2.1m | €2.4m | €2.6m | €2.7m | ▲ 4.0% |
| Land and buildings22 | €1.1m | €2.1m | €2.3m | €2.6m | €2.7m | ▲ 5.3% |
| Furniture and vehicles24 | €2,711 | €5,961 | €109,984 | €72,991 | €40,901 | ▼ 44.0% |
| Financial fixed assets28 | €1,240 | €1,240 | €0 | - | - | - |
| Current assets29/58 | €184,605 | €331,991 | €78,209 | €156,376 | €172,328 | ▲ 10.2% |
| Amounts receivable within one year40/41 | €135,566 | €41,816 | €49,649 | €90,584 | €98,812 | ▲ 9.1% |
| Trade receivables40 | €24,633 | €28,362 | €42,981 | €90,584 | €75,347 | ▼ 16.8% |
| Other amounts receivable41 | €110,934 | €13,453 | €6,668 | €0 | €23,465 | - |
| Cash at bank and in hand54/58 | €49,039 | €285,234 | €15,856 | €52,170 | €65,129 | ▲ 24.8% |
| Deferred charges and accrued income490/1 | - | €4,941 | €12,704 | €13,622 | €8,386 | ▼ 38.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.3m | €2.4m | €2.5m | €2.8m | €2.9m | ▲ 4.3% |
| Equity10/15 | €197,203 | €131,192 | €168,015 | €242,035 | €643,185 | ▲ 166% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €400,000 | ▲ 2,051% |
| Reserves13 | €230,685 | €229,909 | €266,732 | €340,752 | €360,502 | ▲ 5.8% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €0 | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €0 | - | - |
| Tax-exempt reserves132 | €45,603 | €44,828 | €44,053 | €43,277 | €21,706 | ▼ 49.8% |
| Distributable reserves133 | €183,222 | €183,222 | €220,820 | €297,475 | €338,796 | ▲ 13.9% |
| Profit (loss) carried forward14 | -€52,082 | -€117,317 | -€117,317 | -€117,317 | -€117,317 | = |
| Provisions and deferred taxes16 | €10,420 | €10,094 | €9,769 | €9,443 | €9,118 | ▼ 3.4% |
| Deferred taxes168 | €10,420 | €10,094 | €9,769 | €9,443 | €9,118 | ▼ 3.4% |
| Amounts payable17/49 | €1.1m | €2.3m | €2.3m | €2.5m | €2.3m | ▼ 11.0% |
| Amounts payable after more than one year17 | €759,689 | €1.6m | €1.5m | €1.3m | €1.3m | ▲ 0.3% |
| Financial debts170/4 | €759,689 | €1.6m | €1.5m | €1.3m | €1.3m | ▲ 0.3% |
| Amounts payable within one year42/48 | €338,581 | €633,762 | €837,861 | €1.2m | €880,284 | ▼ 23.7% |
| Current portion of amounts payable after more than one year42 | €27,500 | €106,781 | €151,494 | €143,162 | €163,554 | ▲ 14.2% |
| Trade debts44 | €21,143 | €58,903 | €54,751 | €4,189 | €53,533 | ▲ 1,178% |
| Suppliers440/4 | €21,143 | €58,903 | €54,751 | €4,189 | €53,533 | ▲ 1,178% |
| Taxes, remuneration and social security45 | €41,044 | €65,734 | €58,363 | €39,460 | €23,575 | ▼ 40.3% |
| Taxes450/3 | €41,044 | €65,734 | €58,363 | €39,460 | €23,575 | ▼ 40.3% |
| Other amounts payable47/48 | €248,893 | €402,345 | €573,254 | €966,571 | €639,622 | ▼ 33.8% |
| Accrued charges and deferred income492/3 | €6,982 | €9,972 | €16,138 | €73,467 | €62,530 | ▼ 14.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€52,857 | -€66,011 | €36,823 | €74,020 | €19,750 | ▼ 73.3% |
| + Depreciation and write-downs630 | €56,477 | €178,797 | €200,218 | €151,677 | €164,101 | ▲ 8.2% |
| Operating cash flow (approximation) | €3,620 | €112,786 | €237,041 | €225,697 | €183,851 | ▼ 18.5% |
| Investment in fixed assets (approximation) | - | -€1.1m | -€547,893 | -€352,892 | -€269,108 | ▲ 23.7% |
| Change in cash | - | €236,196 | -€269,378 | €36,314 | €12,959 | ▼ 64.3% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
05-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Equity above €500,000Eq €643,185 ▲166%
3 profitable years in a row build equity to €643,185.
03-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Equity above €200,000Eq €242,035 ▲44.1%
2 profitable years in a row build equity to €242,035.
13-08
State Gazette act
General meeting · Director resignation
Director appointment · Permanent representative
22-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €36,823
Net result €36,823 after 2 loss-making years.
31-12
Financial
Equity above €150,000Eq €168,015 ▲28.1%
Equity rises from €131,192 to €168,015.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
13-02
State Gazette act
Incorporation · Founding capital
Bank account · Corporate purpose · Orinn Vijncke
2022
31-12
Financial
Weakest financial yearnet -€66,011
Net result drops to -€66,011, the lowest in the series; recovery starts the following year.
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 29 days late
Show earlier events
2021
23-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
27-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Highest result since 2018net €93,031 ▲699%
Net result €93,031, the highest in the series.
31-12
Financial
Equity above €200,000Eq €213,467 ▲77.2%
2 profitable years in a row build equity to €213,467.
26-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 26 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 31 days late
2017
20-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
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, Kortrijk · 1 establishment unit since 2004
Ground area
2,017 m²
Building footprint
490 m²
Parcel 34007A0167/00G000, Flanders. Linked by address, not a title deed.
1 establishment unit
RIGOLLE
since 20042.137.240.293
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34007A0167/00G000 | Flanders | 2,016 m² | 1 · 490 m² | - |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Connections & network
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Shareholding
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Ownership & control
2 board mandatesSimilar companies · same sector, comparable size
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Of 2,159 companies in sector 61200 we hold annual accounts for 695. 408 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded12-05-2004
Fiscal year end31-12
Activities, NACEBEL 2025
61200Telecommunications resale and intermediation services
Scores and ratios are computed by Checked and are not a credit decision.