MARJO
ActiveSummary
MARJO has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €524,012 and a net result of €11,390. Equity remains stable across the filed fiscal years (±0.6% per year). Its solvency ranks better than 54% of 36380 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability34▲+2
Solvency75▼-10
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €30,000 at 30 days acceptable
Liquidity ample (current ratio 2.22 against 2.81 in 2023; short-term debt: 44.4% and cash: 11.4% of total assets), but 50.2% 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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% 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
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 31-08-2025, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
31 d late
2023
153 d late
2022
153 d late
2021
151 d late
2020
31 d late
2019
92 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 102 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€524,012▼ 6.9%
2023 · €562,622
Total assets
€1.1m▲ 12.3%
2023 · €936,186
Net result
€11,390▲ 138%
2023 · €4,776
Working capital
€570,017▼ 3.6%
2023 · €591,524
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, 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€55,594▼ 21.6%€20,193▼ 63.7%€68,831▲ 241%€20,454▼ 70.3%€43,587▲ 113%
Net result€44,114above the sector's middle half▼ 24.9%€13,599within the sector's middle half▼ 69.2%€46,421above the sector's middle half▲ 241%€4,776within the sector's middle half▼ 89.7%€11,390within the sector's middle half▲ 138%
Equity€577,826above the sector's middle half▲ 4.4%€581,426above the sector's middle half▲ 0.6%€592,847above the sector's middle half▲ 2.0%€562,622above the sector's middle half▼ 5.1%€524,012above the sector's middle half▼ 6.9%
Total assets€818,946above the sector's middle half▲ 9.8%€940,902above the sector's middle half▲ 14.9%€973,255above the sector's middle half▲ 3.4%€936,186above the sector's middle half▼ 3.8%€1.1mabove the sector's middle half▲ 12.3%
Debt€241,120▲ 25.4%€359,476▲ 49.1%€380,408▲ 5.8%€373,564▼ 1.8%€527,688▲ 41.3%
Working capital€595,387▲ 5.8%€605,791▲ 1.7%€626,050▲ 3.3%€591,524▼ 5.5%€570,017▼ 3.6%
Solvency70.6%above the sector's middle half▼ 3.7pp61.8%within the sector's middle half▼ 8.8pp60.9%within the sector's middle half▼ 0.9pp60.1%within the sector's middle half▼ 0.8pp49.8%within the sector's middle half▼ 10.3pp
Staff (FTE)0.8below the sector's middle half=1▲ 25.0%1=1=
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 113% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.1m
Fixed assets
€14,828 ▼ 18.8%
Current assets
€1.0m ▲ 13.0%
Equity and liabilities €1.1m
Equity
€524,012 ▼ 6.9%
Debt
€527,688 ▲ 41.3%
Debt's share of the balance-sheet total rises from 39.9% to 50.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€47,013▲
2023 · €22,594
Cash flow
€14,816▲
2023 · €6,916
Current ratio
2.22▼
2023 · 2.81
Quick ratio
1.89▼
2023 · 2.61
Debt to equity
1.01▲
2023 · 0.66
ROE
2.2%▲
2023 · 0.8%
ROA
1.1%▲
2023 · 0.5%
Interest coverage
1.65▲
2023 · 1.52
Debt ≤ 1 year
€466,855▲
2023 · €326,408
Income taxes
€4,778▲
2023 · €3,433
Staff costs
€17,557▼
2023 · €47,261
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 14,684 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.2%
went bankrupt
3.5%
stopped otherwise
96%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 14,684 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.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €43,063 | €46,372 | €47,261 | €17,557 | ▼ 62.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,387 | €1,287 | €1,887 | €2,140 | €3,426 | ▲ 60.1% |
| Other operating charges640/8 | - | €3,022 | €1,278 | €1,040 | €3,563 | ▲ 243% |
| Gross operating margin9900 | €105,174 | €67,565 | €118,368 | €70,895 | €68,133 | ▼ 3.9% |
| Operating profit (loss)9901 | €55,594 | €20,193 | €68,831 | €20,454 | €43,587 | ▲ 113% |
| Financial income75/76B | - | €3,881 | €2,233 | €2,644 | €1,047 | ▼ 60.4% |
| Recurring financial income75 | €413 | €3,881 | €2,233 | €2,644 | €1,047 | ▼ 60.4% |
| Financial charges65/66B | - | €7,225 | €9,383 | €14,889 | €28,466 | ▲ 91.2% |
| Recurring financial charges65 | €928 | €7,225 | €9,383 | €14,889 | €28,466 | ▲ 91.2% |
| Profit (loss) for the period before taxes9903 | €55,079 | €16,849 | €61,681 | €8,209 | €16,168 | ▲ 97.0% |
| Income taxes67/77 | €10,965 | €3,250 | €15,260 | €3,433 | €4,778 | ▲ 39.2% |
| Profit (loss) for the period9904 | €44,114 | €13,599 | €46,421 | €4,776 | €11,390 | ▲ 138% |
| Profit (loss) for the period to be appropriated9905 | €44,114 | €13,599 | €46,421 | €4,776 | €11,390 | ▲ 138% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €818,946 | €940,902 | €973,255 | €936,186 | €1.1m | ▲ 12.3% |
| Fixed assets21/28 | €2,439 | €9,152 | €7,265 | €18,254 | €14,828 | ▼ 18.8% |
| Tangible fixed assets22/27 | €2,174 | €8,887 | €7,000 | €17,989 | €14,563 | ▼ 19.0% |
| Plant, machinery and equipment23 | - | €343 | - | - | - | - |
| Furniture and vehicles24 | - | €744 | - | €11,789 | €9,163 | ▼ 22.3% |
| Other tangible fixed assets26 | - | €7,800 | €7,000 | €6,200 | €5,400 | ▼ 12.9% |
| Financial fixed assets28 | €265 | €265 | €265 | €265 | €265 | = |
| Current assets29/58 | €816,507 | €931,750 | €965,990 | €917,932 | €1.0m | ▲ 13.0% |
| Stocks and contracts in progress3 | €17,545 | €57,978 | €5,000 | €66,935 | €155,000 | ▲ 132% |
| Stocks30/36 | - | €30,478 | €5,000 | €5,000 | €5,000 | = |
| Contracts in progress37 | - | €27,500 | - | €61,935 | €150,000 | ▲ 142% |
| Amounts receivable within one year40/41 | €733,055 | €831,784 | €769,603 | €754,804 | €761,455 | ▲ 0.9% |
| Trade receivables40 | - | €742,087 | €672,237 | €660,360 | €666,037 | ▲ 0.9% |
| Other amounts receivable41 | - | €89,697 | €97,366 | €94,444 | €95,418 | ▲ 1.0% |
| Cash at bank and in hand54/58 | €65,455 | €41,528 | €190,927 | €95,711 | €119,935 | ▲ 25.3% |
| Deferred charges and accrued income490/1 | - | €460 | €460 | €482 | €482 | = |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €818,946 | €940,902 | €973,255 | €936,186 | €1.1m | ▲ 12.3% |
| Equity10/15 | €577,826 | €581,426 | €592,847 | €562,622 | €524,012 | ▼ 6.9% |
| Contributions10/11 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €184,859 | €197,859 | €223,859 | €193,559 | €154,559 | ▼ 20.1% |
| Non-distributable reserves130/1 | - | €197,859 | €223,859 | €1,859 | €1,859 | = |
| Reserves not available under the articles1311 | - | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Other1319 | - | €196,000 | €222,000 | - | - | - |
| Distributable reserves133 | - | - | - | €191,700 | €152,700 | ▼ 20.3% |
| Profit (loss) carried forward14 | €374,375 | €364,975 | €350,396 | €350,471 | €350,861 | ▲ 0.1% |
| Amounts payable17/49 | €241,120 | €359,476 | €380,408 | €373,564 | €527,688 | ▲ 41.3% |
| Amounts payable within one year42/48 | €221,120 | €325,959 | €339,940 | €326,408 | €466,855 | ▲ 43.0% |
| Financial debts43 | - | - | €3,338 | - | - | - |
| Credit institutions430/8 | - | - | €3,338 | - | - | - |
| Trade debts44 | €74,230 | €66,198 | €44,869 | €13,631 | €58,821 | ▲ 332% |
| Suppliers440/4 | - | €66,198 | €44,869 | €13,631 | €58,821 | ▲ 332% |
| Taxes, remuneration and social security45 | - | €27,785 | €18,356 | €149 | €35,083 | ▲ 23,446% |
| Taxes450/3 | - | €26,505 | €17,291 | - | - | - |
| Remuneration and social security454/9 | - | €1,280 | €1,065 | €149 | €35,083 | ▲ 23,446% |
| Other amounts payable47/48 | - | €231,976 | €273,377 | €312,628 | €372,951 | ▲ 19.3% |
| Accrued charges and deferred income492/3 | - | €33,517 | €40,468 | €47,156 | €60,833 | ▲ 29.0% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €44,114 | €13,599 | €46,421 | €4,776 | €11,390 | ▲ 138% |
| + Depreciation and write-downs630 | €4,387 | €1,287 | €1,887 | €2,140 | €3,426 | ▲ 60.1% |
| Operating cash flow (approximation) | €48,501 | €14,886 | €48,308 | €6,916 | €14,816 | ▲ 114% |
| Investment in fixed assets (approximation) | - | -€8,000 | €0 | -€13,129 | €0 | ▲ 100% |
| Change in cash | - | -€23,927 | €149,399 | -€95,216 | €24,224 | ▲ 125% |
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
2025
31-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 31 days late
2024
31-12
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 153 days late
2023
31-12
Financial
Weakest financial yearnet €4,776 ▼89.7%
Net result drops to €4,776, the lowest in the series; recovery starts the following year.
31-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 153 days late
2022
29-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 151 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 92 days late
2019
31-12
Financial
Highest result since 2018net €58,727 ▲15.4%
Operating result €70,939, net result €58,727, both a record.
31-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 31 days late
2018
30-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 61 days late
2017
27-12
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 149 days late
2016
30-12
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 152 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
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.
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Directors · office · real estate
Directors
1 act for this company is 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, Brakel · 1 establishment unit since 1991
Ground area
2,806 m²
Building footprint
359 m²
Volume, LiDAR
1,874 m³
2 parcels, Flanders · tallest building 10.4 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
MARJO
since 19912.055.309.739
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 45028C0024/00A000 | Flanders | 2,023 m² | 1 · 201 m² | 8.1 m · 2 fl. |
| 45034C0838/00P000 | Flanders | 783 m² | 1 · 158 m² | 10.4 m · 2 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.
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Of 20,025 companies in sector 43320 we hold annual accounts for 9,134. 5,868 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formCoöperatieve vennootschap met beperkte aansprakelijkheid
Founded12-10-1991
Fiscal year end31-12
Activities, NACEBEL 2025
43320Joinery installation
E-invoicing
Reachable via Peppol
Peppol ID
0208:0445570587
Also
9925:BE0445570587
Registered
05-02-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.