MARJO
ActiveSummary
MARJO has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €139,873 and a net result of €8,965. Equity is growing by ~7.1% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability74▲+3
Solvency90▲+4
Growth78=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €10,000 at 30 days acceptable
Liquidity ample (current ratio 3.8 against 3.69 in 2024; short-term debt: 8.7% and cash: 3.1% of total assets), and 34.9% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
65.1%
Return on assets
4.2%
Age of the figures
15 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 09-12-2025, 53 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
53 d early
2024
on the day
2023
2 d early
2022
on the day
2021
45 d early
2020
1 d early
2019
on the day
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 14 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close27-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€139,873▲ 6.8%
2024 · €130,907
Total assets
€214,822=
2024 · €214,862
Net result
€8,965▲ 127%
2024 · €3,957
Working capital
€52,482▲ 11.0%
2024 · €47,277
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€15,120▼ 3.1%€14,420▼ 4.6%€14,026▼ 2.7%€7,861▼ 44.0%€15,082▲ 91.9%
Net result€10,068▲ 3.7%€9,600▼ 4.6%€8,420▼ 12.3%€3,957▼ 53.0%€8,965▲ 127%
Equity€108,929▲ 10.2%€118,529▲ 8.8%€126,950▲ 7.1%€130,907▲ 3.1%€139,873▲ 6.8%
Total assets€188,357▲ 5.2%€173,163▼ 8.1%€220,610▲ 27.4%€214,862▼ 2.6%€214,822=
Debt€79,428▼ 0.9%€54,633▼ 31.2%€93,660▲ 71.4%€83,955▼ 10.4%€74,950▼ 10.7%
Working capital€9,781€3,761▼ 61.6%€46,703▲ 1,142%€47,277▲ 1.2%€52,482▲ 11.0%
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 recovers in 2025; 2025 is 92% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €214,822
Fixed assets
€143,567 ▼ 4.3%
Current assets
€71,255 ▲ 9.9%
Equity and liabilities €214,822
Equity
€139,873 ▲ 6.8%
Debt
€74,950 ▼ 10.7%
Debt's share of the balance-sheet total falls from 39.1% to 34.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€21,526▲
2024 · €14,240
Cash flow
€15,409▲
2024 · €10,336
Current ratio
3.80▲
2024 · 3.69
Debt to equity
0.54▼
2024 · 0.64
ROE
6.4%▲
2024 · 3.0%
ROA
4.2%▲
2024 · 1.8%
Interest coverage
14.10▲
2024 · 7.40
Debt ≤ 1 year
€18,773▲
2024 · €17,574
Debt > 1 year
€56,176▼
2024 · €66,380
Income taxes
€4,591▲
2024 · €1,980
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 16,986 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 94% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.5%
went bankrupt
4.9%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% 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 497,058 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 16,986 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,379 | €6,379 | €6,379 | €6,379 | €6,444 | ▲ 1.0% |
| Other operating charges640/8 | - | €1,171 | €1,232 | €1,162 | €1,349 | ▲ 16.0% |
| Gross operating margin9900 | €22,590 | €21,970 | €21,637 | €15,402 | €22,874 | ▲ 48.5% |
| Operating profit (loss)9901 | €15,120 | €14,420 | €14,026 | €7,861 | €15,082 | ▲ 91.9% |
| Recurring financial income75 | €0 | - | - | - | - | - |
| Financial charges65/66B | - | €23 | €1,404 | €1,923 | €1,526 | ▼ 20.6% |
| Recurring financial charges65 | €21 | €23 | €1,404 | €1,923 | €1,526 | ▼ 20.6% |
| Profit (loss) for the period before taxes9903 | €15,099 | €14,397 | €12,622 | €5,938 | €13,556 | ▲ 128% |
| Income taxes67/77 | €5,031 | €4,796 | €4,202 | €1,980 | €4,591 | ▲ 132% |
| Profit (loss) for the period9904 | €10,068 | €9,600 | €8,420 | €3,957 | €8,965 | ▲ 127% |
| Profit (loss) for the period to be appropriated9905 | €10,068 | €9,600 | €8,420 | €3,957 | €8,965 | ▲ 127% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €188,357 | €173,163 | €220,610 | €214,862 | €214,822 | = |
| Fixed assets21/28 | €169,148 | €162,769 | €156,390 | €150,011 | €143,567 | ▼ 4.3% |
| Tangible fixed assets22/27 | €169,148 | €162,769 | €156,390 | €150,011 | €143,567 | ▼ 4.3% |
| Land and buildings22 | - | €162,769 | €156,390 | €150,011 | €143,567 | ▼ 4.3% |
| Current assets29/58 | €19,209 | €10,394 | €64,220 | €64,851 | €71,255 | ▲ 9.9% |
| Amounts receivable after more than one year29 | - | - | - | - | €10,000 | - |
| Other amounts receivable291 | - | - | - | - | €10,000 | - |
| Amounts receivable within one year40/41 | - | - | €54,689 | €54,689 | €54,689 | = |
| Other amounts receivable41 | - | - | €54,689 | €54,689 | €54,689 | = |
| Cash at bank and in hand54/58 | €18,114 | €8,177 | €9,531 | €6,602 | €6,566 | ▼ 0.5% |
| Deferred charges and accrued income490/1 | - | €2,217 | €0 | €3,561 | €0 | ▼ 100% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €188,357 | €173,163 | €220,610 | €214,862 | €214,822 | = |
| Equity10/15 | €108,929 | €118,529 | €126,950 | €130,907 | €139,873 | ▲ 6.8% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | - | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | - | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €46,929 | €56,529 | €64,950 | €68,907 | €77,873 | ▲ 13.0% |
| Distributable reserves133 | - | €56,529 | €64,950 | €68,907 | €77,873 | ▲ 13.0% |
| Amounts payable17/49 | €79,428 | €54,633 | €93,660 | €83,955 | €74,950 | ▼ 10.7% |
| Amounts payable after more than one year17 | €70,000 | €48,000 | €76,143 | €66,380 | €56,176 | ▼ 15.4% |
| Financial debts170/4 | - | €48,000 | €76,143 | €66,380 | €56,176 | ▼ 15.4% |
| Amounts payable within one year42/48 | €9,428 | €6,633 | €17,517 | €17,574 | €18,773 | ▲ 6.8% |
| Current portion of amounts payable after more than one year42 | - | - | €9,336 | €9,763 | €10,204 | ▲ 4.5% |
| Trade debts44 | €0 | - | €508 | €2,360 | €508 | ▼ 78.5% |
| Suppliers440/4 | - | - | €508 | €2,360 | €508 | ▼ 78.5% |
| Taxes, remuneration and social security45 | - | €4,796 | €4,202 | €1,980 | €4,591 | ▲ 132% |
| Taxes450/3 | - | €4,796 | €4,202 | €1,980 | €4,591 | ▲ 132% |
| Other amounts payable47/48 | - | €1,837 | €3,471 | €3,471 | €3,471 | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €10,068 | €9,600 | €8,420 | €3,957 | €8,965 | ▲ 127% |
| + Depreciation and write-downs630 | €6,379 | €6,379 | €6,379 | €6,379 | €6,444 | ▲ 1.0% |
| Operating cash flow (approximation) | €16,448 | €15,979 | €14,799 | €10,336 | €15,409 | ▲ 49.1% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€9,936 | €1,354 | -€2,929 | -€35 | ▲ 98.8% |
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
2025
09-12
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
31-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
29-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-06
Financial
Liquidity doublescurrent ratio 3.67
Current ratio from 1.57 to 3.67.
31-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2021
17-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
30-06
Financial
Highest result since 2019net €10,068 ▲3.7%
Net result €10,068, the highest in the series.
30-06
Financial
Liquidity times 6current ratio 2.04
Current ratio from 0.35 to 2.04; short-term debt falls from €10,184 to €9,428.
30-06
Financial
Equity above €100,000Eq €108,929 ▲10.2%
3 profitable years in a row build equity to €108,929.
30-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-01
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-01
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
28-12
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
30-01
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Pajottegem · 1 establishment unit since 2003
Ground area
578 m²
Building footprint
232 m²
Volume, LiDAR
1,129 m³
Parcel 23031B0320/00H000, Flanders · tallest building 7.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Steenweg Asse(HN) 202, 1540 Pajottegem
since 20032.127.104.684
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23031B0320/00H000 | Flanders | 578 m² | 1 · 232 m² | 7.3 m · 2 fl. |
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.
Identification & contact
Identification
Legal formPublic limited company
Founded26-06-2002
Fiscal year end30-06
E-invoicing
Reachable via Peppol
Peppol ID
0208:0477833480
Also
9925:BE0477833480
Registered
12-02-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.