MARINA
ActiveSummary
MARINA is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2024 annual accounts show negative equity (-€28.1m) and a net result of €1.2m. The figures fluctuate too strongly year-on-year for a reliable trend projection. The company has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
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 16-06-2026, 45 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
45 d early
2024
73 d early
2023
44 d early
2022
56 d early
2021
30 d early
2020
11 d early
2019
44 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 43 days before the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% 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. Usually files around 16 June (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What changed in the latest annual accounts?What changed What held for this company on a given day: board, seat, name?Company as of a date
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2024, full schema
Equity
-€28.1m▲ 3.9%
2023 · -€29.3m
Net result
€1.2m▼ 90.5%
2023 · €12.1m
Total assets
€71.8m▲ 30.4%
2023 · €55.0m
Solvency
-39.2%▲ 14.0pp
2023 · -53.2%
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result-€216,160▼ 459%-€59,467▲ 72.5%€833,527€1.6m▲ 94.0%€1.5m▼ 10.0%
Net result-€99.9mbelow the sector's middle half▲ 1.2%€3.3mabove the sector's middle half€589,987within the sector's middle half▼ 82.0%€12.1mabove the sector's middle half▲ 1,956%€1.2mabove the sector's middle half▼ 90.5%
Equity-€45.3mbelow the sector's middle half-€42.0mbelow the sector's middle half▲ 7.2%-€41.4mbelow the sector's middle half▲ 1.4%-€29.3mbelow the sector's middle half▲ 29.3%-€28.1mbelow the sector's middle half▲ 3.9%
Total assets€50.7mabove the sector's middle half▼ 67.1%€52.9mabove the sector's middle half▲ 4.3%€50.0mabove the sector's middle half▼ 5.5%€55.0mabove the sector's middle half▲ 10.1%€71.8mabove the sector's middle half▲ 30.4%
Debt€96.0m▼ 3.6%€94.9m▼ 1.2%€91.4m▼ 3.7%€84.3m▼ 7.8%€99.9m▲ 18.5%
Working capital-€4.2mbelow the sector's middle half▲ 20.1%-€5.6mbelow the sector's middle half▼ 32.5%-€1.1mbelow the sector's middle half▲ 79.9%-€848,609below the sector's middle half▲ 24.7%-€1.4mbelow the sector's middle half▼ 66.4%
Solvency-89.3%below the sector's middle half▼ 124.7pp-79.4%below the sector's middle half▲ 9.9pp-82.9%below the sector's middle half▼ 3.5pp-53.2%below the sector's middle half▲ 29.6pp-39.2%below the sector's middle half▲ 14.0pp
Current ratio0.24below the sector's middle half▼ 0.270.05below the sector's middle half▼ 0.200.51within the sector's middle half▲ 0.460.70within the sector's middle half▲ 0.190.58within the sector's middle half▼ 0.13
Return on assets (ROA)-197.0%below the sector's middle half▼ 131.4pp6.2%within the sector's middle half▲ 203.2pp1.2%within the sector's middle half▼ 5.0pp22.0%above the sector's middle half▲ 20.9pp1.6%within the sector's middle half▼ 20.4pp
above
within
below
the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 10% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €71.8m
Fixed assets
€69.9m ▲ 31.8%
Current assets
€1.9m ▼ 4.8%
Key figures and ratios
Debt ≤ 1 year
€3.3m▲
2023 · €2.9m
Debt > 1 year
€96.5m▲
2023 · €81.4m
Income taxes
€11,745▼
2023 · €45,162
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | -€23,804 | - | - | - | - |
| Other operating charges640/8 | - | €29,433 | €868 | €960 | €968 | ▲ 0.8% |
| Gross operating margin9900 | -€215,292 | -€53,838 | €834,395 | €1.6m | €1.5m | ▼ 10.0% |
| Operating profit (loss)9901 | -€216,160 | -€59,467 | €833,527 | €1.6m | €1.5m | ▼ 10.0% |
| Financial income75/76B | - | €3.7m | €2,569 | €10.9m | €29.2m | ▲ 168% |
| Recurring financial income75 | €674,791 | €236,727 | €805 | €151,413 | €36,683 | ▼ 75.8% |
| Non-recurring financial income76B | - | €3.5m | €1,764 | €10.8m | €29.2m | ▲ 172% |
| Financial charges65/66B | - | €395,241 | €246,102 | €342,152 | €29.5m | ▲ 8,534% |
| Recurring financial charges65 | €815,421 | €395,241 | €246,102 | €342,152 | €349,398 | ▲ 2.1% |
| Non-recurring financial charges66B | - | - | - | - | €29.2m | - |
| Profit (loss) for the period before taxes9903 | -€99.9m | €3.3m | €589,995 | €12.2m | €1.2m | ▼ 90.4% |
| Income taxes67/77 | - | - | €8 | €45,162 | €11,745 | ▼ 74.0% |
| Profit (loss) for the period9904 | -€99.9m | €3.3m | €589,987 | €12.1m | €1.2m | ▼ 90.5% |
| Profit (loss) for the period to be appropriated9905 | -€99.9m | €3.3m | €589,987 | €12.1m | €1.2m | ▼ 90.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €50.7m | €52.9m | €50.0m | €55.0m | €71.8m | ▲ 30.4% |
| Fixed assets21/28 | €49.4m | €52.6m | €48.8m | €53.0m | €69.9m | ▲ 31.8% |
| Financial fixed assets28 | €49.4m | €52.6m | €48.8m | €53.0m | €69.9m | ▲ 31.8% |
| Current assets29/58 | €1.4m | €273,878 | €1.2m | €2.0m | €1.9m | ▼ 4.8% |
| Amounts receivable within one year40/41 | €4,761 | €868 | €820,009 | €961,657 | €1.5m | ▲ 55.5% |
| Trade receivables40 | - | - | €820,000 | €960,000 | €960,000 | = |
| Other amounts receivable41 | - | €868 | €9 | €1,657 | €535,522 | ▲ 32,219% |
| Current investments50/53 | - | - | - | - | €239,987 | - |
| Cash at bank and in hand54/58 | €778,583 | €273,010 | €346,313 | €1.0m | €174,652 | ▼ 83.0% |
| Deferred charges and accrued income490/1 | - | - | - | €20,485 | €2,919 | ▼ 85.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €50.7m | €52.9m | €50.0m | €55.0m | €71.8m | ▲ 30.4% |
| Equity10/15 | -€45.3m | -€42.0m | -€41.4m | -€29.3m | -€28.1m | ▲ 3.9% |
| Contributions10/11 | €160.2m | €160.2m | €160.2m | €160.2m | €160.2m | = |
| Capital10 | - | €160.2m | €160.2m | €160.2m | €160.2m | = |
| Issued capital100 | - | €160.2m | €160.2m | €160.2m | €160.2m | = |
| Reserves13 | €1.2m | €1.2m | €1.2m | €1.2m | €1.2m | = |
| Non-distributable reserves130/1 | - | €1.2m | €1.2m | €1.2m | €1.2m | = |
| Legal reserve130 | - | €1.2m | €1.2m | €1.2m | €1.2m | = |
| Profit (loss) carried forward14 | -€206.8m | -€203.5m | -€202.9m | -€190.8m | -€189.6m | ▲ 0.6% |
| Amounts payable17/49 | €96.0m | €94.9m | €91.4m | €84.3m | €99.9m | ▲ 18.5% |
| Amounts payable after more than one year17 | €90.4m | €89.0m | €89.1m | €81.4m | €96.5m | ▲ 18.6% |
| Financial debts170/4 | - | €89.0m | €89.1m | €81.4m | €96.5m | ▲ 18.6% |
| Other amounts payable178/9 | - | €34,000 | €34,000 | €34,000 | €34,000 | = |
| Amounts payable within one year42/48 | €5.6m | €5.9m | €2.3m | €2.9m | €3.3m | ▲ 16.4% |
| Trade debts44 | €6,914 | €9,165 | €44,171 | €32,847 | €128,110 | ▲ 290% |
| Suppliers440/4 | - | €9,165 | €44,171 | €32,847 | €128,110 | ▲ 290% |
| Taxes, remuneration and social security45 | - | - | - | €75,525 | €84,930 | ▲ 12.5% |
| Taxes450/3 | - | - | - | €75,525 | €84,930 | ▲ 12.5% |
| Other amounts payable47/48 | - | €5.9m | €2.2m | €2.7m | €3.1m | ▲ 13.2% |
| Accrued charges and deferred income492/3 | - | €13,000 | €13,000 | €41,606 | €41,020 | ▼ 1.4% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€99.9m | €3.3m | €589,987 | €12.1m | €1.2m | ▼ 90.5% |
| Operating cash flow (approximation) | -€99.9m | €3.3m | €589,987 | €12.1m | €1.2m | ▼ 90.5% |
| Investment in fixed assets (approximation) | - | -€3.3m | €3.8m | -€4.2m | -€16.8m | ▼ 301% |
| Change in cash | - | -€505,573 | €73,303 | €680,503 | -€852,164 | ▼ 225% |
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
16-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
19-05
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
17-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Highest result since 2018net €12.1m ▲1,956%
Operating result €1.6m, net result €12.1m, both a record.
05-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
01-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Back to profitnet €3.3m
Net result €3.3m after 3 loss-making years.
20-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
17-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Weakest financial yearnet -€101.1m
Net result drops to -€101.1m, the lowest in the series; recovery starts the following year.
27-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
25-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 56 days late
2017
07-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 17 acts read
About the unread acts
We know of 17 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
17 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, Ukkel · 1 establishment unit since 1999
Ground area
2,939 m²
Building footprint
1,001 m²
Volume, LiDAR
5,061 m³
2 parcels, Brussels · tallest building 20.2 m, ±6 floors. Linked by address, not a title deed.
7
companies at this address
See who is registered here
1 establishment unit
Dalstraat 18, 1050 Elsene
since 19992.093.494.877
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21612C0294/00G019 | Brussels | 2,790 m² | 1 · 908 m² | 9.1 m · 2 fl. |
| 21444B0059/00V005 | Brussels | 149 m² | 1 · 94 m² | 20.2 m · 6 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
1 owner · 4 holdings · 2 subsidiaries in the treeOwners 1
-
31.14%
Holdings 4
-
99.99%
-
49.5%
-
43.5%
-
32.53%
All subsidiaries, including indirect ones 2
Companies in which this company or one of its subsidiaries holds more than half, or which it consolidates according to the LEI register.
7X 99.99%1 subsidiary
- GSL sarlFR 100%
According to the 2024 annual accounts of MARINA and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Recognitions · licences · registrations
Legal Entity Identifier
635400MTH9JH8X1RMB22
Similar companies · same sector, comparable size
The Good Life Development Fund II
BE 0734.432.431
Gent · Eq €54,727,625
SOFIN
BE 0507.724.427
Knokke-Heist · Eq €54,790,257
IMMOWEB
BE 0429.223.614
Brussel · Eq €54,801,841
TOMTREE
BE 0823.073.803
Tervuren · Eq €54,373,987
CITRUSCO
BE 0405.830.677
Sint-Truiden · Eq €54,915,138
Of 24,728 companies in sector 64210 we hold annual accounts for 19,805. 2,569 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded26-07-1999
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
64921Financial service activities, except insurance and pension funding
64922Financial service activities, except insurance and pension funding
64929Financial service activities, except insurance and pension funding
E-invoicing
Reachable via Peppol
Peppol ID
0208:0466607018
Registered
08-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.