MARITHE
ActiveSummary
The computed 12-month bankruptcy probability of MARITHE is 1.7% (moderate). The 2025 annual accounts show negative equity (-€37,789) and a net result of -€12,529. Equity is shrinking by about 41% per year across the filed financial years. Its solvency ranks better than 5% of 12,713 sector peers (NACE 47, financial year 2025). The company has been active since 2019 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
- Equity
- -€37,789
- Loss
- -€12,529
- DELEPINE CarolineDirector
- CAELEN Joel GuyDirector
- KARAKURT Ahmet SahlmisDirector
Why 53raises riskNegative equity -€37,789Last filed accounts filed 25 days late; 1 of the last 3 latelowers riskSize: total assets €26,588Liquidity: current ratio 0.41, cash €10,890Show the evidence
Checked score
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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 47, micro): better than 6% on solvency, 52% on liquidity, 6% on profitability and 11% on growth.
The bankruptcy probability was computed on 28-10-2026 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.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 6 accounts on average 80 days after the deadline; the sector median (NACE 47) for financial year 2024 is on the deadline day, and 47% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · abbreviated…
- Appointments: CAELEN Joel Guy (director) and…Declaration · Power of attorney
- Annual accounts filedfinancial year 2024 · micro…
Financials · financial year 2025, abbreviated format
2025 annual accounts filed late (25 days) Filed on 25 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00420170.
2021 to 2025, 5 financial years 2020 to 2025, 6 financial years
The operating result stays negative: a loss of €12,379 in 2025 against €3,266 in 2024; the loss grows.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Average staff in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 47, Retail trade: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Peer companies
Historical observationOf the 6,007 companies that looked in July 2024 the way this one looks now, 7.9% went bankrupt within 24 months and 83.0% are still going.
- Micro
- 5 to 10 years old
- negative equity
- a loss of 10% of the balance sheet or more
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.7% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 6,007 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €25,351 | €24,064 | €45 | - | - | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €4,100 | - | €4,100 | - |
| Other operating charges640/8 | - | €576 | €789 | - | €50 | €1,307 | ▲ 26× |
| Gross operating margin9900 | €23,927 | €23,135 | €773 | €4,582 | -€3,216 | -€6,972 | ▼ 117% |
| Operating profit (loss)9901 | -€2,599 | -€2,791 | -€24,080 | €437 | -€3,266 | -€12,379 | ▼ 279% |
| Recurring financial income75 | €257 | - | - | - | - | - | - |
| Financial charges65/66B | - | €832 | €123 | €674 | €211 | €150 | ▼ 29.0% |
| Recurring financial charges65 | €1,380 | €832 | €123 | €674 | €211 | €150 | ▼ 29.0% |
| Profit (loss) for the period before taxes9903 | -€3,721 | -€3,623 | -€24,203 | -€237 | -€3,477 | -€12,529 | ▼ 260% |
| Profit (loss) for the period9904 | -€3,721 | -€3,623 | -€24,203 | -€237 | -€3,477 | -€12,529 | ▼ 260% |
| Profit (loss) for the period to be appropriated9905 | -€3,721 | -€3,623 | -€24,203 | -€237 | -€3,477 | -€12,529 | ▼ 260% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €69,433 | €65,838 | €23,274 | €12,425 | €6,639 | €26,588 | ▲ 301% |
| Current assets29/58 | €69,433 | €65,838 | €23,274 | €12,425 | €6,639 | €26,588 | ▲ 301% |
| Stocks and contracts in progress3 | €30,615 | €31,606 | €8,200 | €4,100 | €4,100 | €13,650 | ▲ 233% |
| Stocks30/36 | - | €31,606 | €8,200 | €4,100 | €4,100 | €13,650 | ▲ 233% |
| Amounts receivable within one year40/41 | €534 | - | - | €375 | €1,156 | €804 | ▼ 30.4% |
| Trade receivables40 | - | - | - | - | €804 | €804 | = |
| Other amounts receivable41 | - | - | - | €375 | €352 | - | - |
| Cash at bank and in hand54/58 | €38,283 | €33,683 | €14,853 | €7,713 | €1,383 | €10,890 | ▲ 688% |
| Deferred charges and accrued income490/1 | - | €549 | €221 | €237 | - | €1,244 | - |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €69,433 | €65,838 | €23,274 | €12,425 | €6,639 | €26,588 | ▲ 301% |
| Equity10/15 | €6,279 | €2,656 | -€21,547 | -€21,784 | -€25,261 | -€37,789 | ▼ 49.6% |
| Contributions10/11 | €10,000 | €10,000 | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Capital10 | - | €10,000 | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Issued capital100 | - | €10,000 | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Profit (loss) carried forward14 | -€3,721 | -€7,344 | -€31,547 | -€31,784 | -€35,261 | -€47,789 | ▼ 35.5% |
| Amounts payable17/49 | €63,154 | €63,182 | €44,821 | €34,209 | €31,899 | €64,377 | ▲ 102% |
| Amounts payable after more than one year17 | €25,015 | €17,027 | €16,711 | €503 | €747 | - | - |
| Financial debts170/4 | - | €17,027 | €16,711 | €503 | €747 | - | - |
| Amounts payable within one year42/48 | €35,339 | €44,049 | €28,110 | €33,706 | €31,152 | €64,377 | ▲ 107% |
| Current portion of amounts payable after more than one year42 | - | €7,988 | - | €8,472 | - | - | - |
| Trade debts44 | €15,713 | €16,227 | €17,669 | €11,173 | €11,118 | €25,410 | ▲ 129% |
| Suppliers440/4 | - | €16,227 | €17,669 | €11,173 | €11,118 | €25,410 | ▲ 129% |
| Taxes, remuneration and social security45 | - | €16,814 | €3,558 | - | - | €1,121 | - |
| Taxes450/3 | - | €7,690 | €2,469 | - | - | €1,121 | - |
| Remuneration and social security454/9 | - | €9,123 | €1,090 | - | - | - | - |
| Other amounts payable47/48 | - | €3,020 | €6,883 | €14,061 | €20,034 | €37,846 | ▲ 88.9% |
| Accrued charges and deferred income492/3 | - | €2,107 | - | - | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€3,721 | -€3,623 | -€24,203 | -€237 | -€3,477 | -€12,529 | ▼ 260% |
| Operating cash flow (approximation) | -€3,721 | -€3,623 | -€24,203 | -€237 | -€3,477 | -€12,529 | ▼ 260% |
| Change in cash | - | -€4,600 | -€18,830 | -€7,140 | -€6,330 | €9,507 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (6)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | abbreviated format | 25-08-2026 | 2026-00420170 |
| 31-12-2024 | micro format | 27-08-2025 | 2025-00410307 |
| 31-12-2023 | micro format | 30-09-2024 | 2024-00481429 |
| 31-12-2022 | micro format | 30-05-2024 | 2024-00102203 |
| 31-12-2021 | micro format | 31-08-2022 | 2022-20389488 |
| 31-12-2020 | micro format | 30-08-2021 | 2021-57300034 |
Similar companies · same sector and region
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Board 3
Day-to-day management 1
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| DELEPINE Caroline |
|
| CAELEN Joel Guy |
|
| KARAKURT Ahmet Sahlmis |
|
| Josiane Deckers |
|
| DECKERS Josianne |
|
Owners and capital
Owners
No owners or capital events in the accounts and acts we read.
Group and network
Connections & network
3 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
16-09
Gazette deed
Appointments: CAELEN Joel Guy (director) and KARAKURT Ahmet Sahlmis (director)Declaration · Power of attorney6 facts ▸
- General meeting, 01-08-2025
- Director appointment, CAELEN Joel Guy (director)
- Director appointment, KARAKURT Ahmet Sahlmis (director)
- Declaration, “aucune condamnation à une interdiction s'apparentant à l'une des interdictions énumérées à l'article 6 de la loi précitée n'a été prononcée par un tribunal d'un…” (deed in French)
- Power of attorney, Excellium
- Power of attorney, MULLER Xavier
10-03
Gazette deed
Resignation: DECKERS Josianne (director)Appointment: DELEPINE Caroline (director) · Registered-office move4 facts ▸
- General meeting, 06-03-2023
- Registered-office move, Queue du Bois 2,4608 Dalhem (Warsage)
- Director resignation, DECKERS Josianne (director)
- Director appointment, DELEPINE Caroline (director (not named in the articles))
19-01
Gazette deed
Resignation: Caroline Delepine (administrateur déléguée)Appointment: Josiane Deckers (administrateur déléguée)3 facts ▸
- General meeting, 30-12-2022
- Director resignation, Caroline Delepine (administrateur déléguée)
- Director appointment, Josiane Deckers (administrateur déléguée)
About the unread acts
Of the 4 Belgian Official Gazette deeds we know for this company, 3 have been read. The other one has not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
2 parcels
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 62108C0304/00E000 | Wallonia | 196 m² | 1 · 160 m² | - |
| 63055A0220/00N000 | Wallonia | 132 m² | 1 · 87 m² | 9.1 m · 2 |
How the parcels are linked
Articles of association
- PurposeThe activities the company may carry out under its articles.
- “Le commerce de détails,gros,demi-gros,import-export en magasin spécialisé,par correspondance,sur des sites internet,sur des marchés et à…” (deed in French)
7 activities (deed in French)
- Le commerce de détails,gros,demi-gros,import-export en magasin spécialisé,par correspondance,sur des sites internet,sur des marchés et à domicile d’articles de mode,de vêtements,de sous-vêtements,d’article de lingerie,de vêtements de bains,de vêtements de sport,de vêtements de travail,de vêtements de cérémonie,… pour hommes,dames et enfants
- Le commerce de détails,gros,demi-gros,import-export en magasin spécialisé,par correspondance,sur des sites internet,sur des marchés et à domicile d’accessoires vestimentaires et de bijouterie fantaisie pour hommes,dames et enfants
- Le commerce de détails,gros,demi-gros,import-export en magasin spécialisé,par correspondance,sur des sites internet,sur des marchés et à domicile de chaussures,maroquinerie,produits de mercerie,chapellerie,horlogerie,optique de mode,articles de voyage,articles de décoration,parfums
- La société a également pour objet,à titre accessoire,la gestion et la valorisation d’un patrimoine immobilier,notamment par l’achat,la vente,la location,la mise en location,la construction de biens immobiliers
- L’exploitation et la gestion d’un salon de coiffure homme/dame
- Le commerce en gros et en détail,l’importation et l’exportation de tous types de véhicules et accessoires neufs ou d’occasion
- Toutes les activités se rapportant directement ou indirectement aux véhicules à moteurs et à leurs dérivés (remorques,caravanes,bateaux,aéronefs)
Read from the deeds: 1 provision, deed of 10-03-2023