MARLO
ActiveSummary
MARLO has been active since 2005 and the Belgian State Gazette contains no insolvency signals. The CBE does carry 1 administrative register entry (see administrative flags). The 2025 annual accounts show negative equity (-€29,745) and a net result of -€4,470. Equity is growing by ~7% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 1.3% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability56▲+13
Solvency19=
Growth47▼-11
Track record92
Bankruptcy probability, 12 months
1.3%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.68 against 0.35 in 2024; short-term debt: 50.6% and cash: 3.5% of total assets), and equity is negative.
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Signals
Seven 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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-6.3%
Return on assets
-0.9%
Age of the figures
9 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€29,745
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 31-07-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
4 d late
2023
1 d early
2022
186 d late
2021
551 d late
2020
916 d late
2019
1281 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 420 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
raises risk · Administrative warnings in the KBO publications
1 publication by the FPS Economy about this company, such as a strike-off for address, accounts or UBO, or its withdrawal.
KBO publicationsPublications
Strikeout withdrawn
Checked, nothing found (1)
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
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Turnover
€33,670▼ 11.9%
2018 · €38,200
EBIT margin
16.3%▲ 31.8pp
2018 · -15.5%
Net result
-€4,470
2024 · €1,643
Working capital
-€77,103▲ 66.0%
2024 · -€226,829
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
Turnover€33,670
Operating result€14,888▼ 6.6%€26,243▲ 76.3%€16,166▼ 38.4%€10,125▼ 37.4%€5,481▼ 45.9%
Net result-€986€14,262€5,625▼ 60.6%€1,643▼ 70.8%-€4,470
EBIT margin16.3%
Equity-€46,804▼ 2.2%-€32,542▲ 30.5%-€26,918▲ 17.3%-€25,275▲ 6.1%-€29,745▼ 17.7%
Total assets€471,775▼ 2.9%€464,860▼ 1.5%€457,859▼ 1.5%€449,907▼ 1.7%€475,698▲ 5.7%
Debt€518,580▼ 2.5%€497,402▼ 4.1%€484,776▼ 2.5%€475,182▼ 2.0%€505,443▲ 6.4%
Working capital-€175,209▼ 26.3%-€187,440▼ 7.0%-€209,610▼ 11.8%-€226,829▼ 8.2%-€77,103▲ 66.0%
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 has fallen three years in a row; 2025 is 46% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €475,698
Fixed assets
€312,000 ▼ 4.4%
Current assets
€163,698 ▲ 32.5%
Key figures and ratios
EBITDA
€19,881▼
2024 · €24,525
Cash flow
€9,930▼
2024 · €16,043
Solvency
-6.3%▼
2024 · -5.6%
Current ratio
0.68▲
2024 · 0.35
Debt to equity
-16.99▲
2024 · -18.80
ROA
-0.9%▼
2024 · 0.4%
Interest coverage
1.94▼
2024 · 2.89
Debt ≤ 1 year
€240,801▼
2024 · €350,336
Debt > 1 year
€264,642▲
2024 · €120,146
Income taxes
€0
Staff costs
€0
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,242 companies that looked in July 2024 the way this one looks now, 1.7% went bankrupt within 24 months and 93% are still going.
- Small
- 20 years or older
- negative equity
- a small loss
1.7%
went bankrupt
3.9%
stopped otherwise
93%
still going
A further 1.9% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.3% 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 1,242 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 |
|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | - | €33,670 | - |
| Non-recurring operating income76A | - | - | - | - | €0 | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | €5,445 | - |
| Remuneration, social security and pensions62 | - | - | - | - | €0 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €15,643 | €15,643 | €15,643 | €14,400 | €14,400 | = |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €0 | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | - | €0 | - |
| Other operating charges640/8 | €6,975 | €7,149 | €7,714 | €8,017 | €8,344 | ▲ 4.1% |
| Operating charges capitalised as restructuring costs649 | - | - | - | - | €0 | - |
| Non-recurring operating charges66A | - | - | - | - | €0 | - |
| Gross operating margin9900 | €37,506 | €49,035 | €39,523 | €32,542 | €28,225 | ▼ 13.3% |
| Operating profit (loss)9901 | €14,888 | €26,243 | €16,166 | €10,125 | €5,481 | ▼ 45.9% |
| Financial income75/76B | - | - | - | - | €271 | - |
| Recurring financial income75 | - | - | - | - | €271 | - |
| Non-recurring financial income76B | - | - | - | - | €0 | - |
| Financial charges65/66B | €15,874 | €11,981 | €10,542 | €8,482 | €10,222 | ▲ 20.5% |
| Recurring financial charges65 | €15,874 | €11,981 | €10,542 | €8,482 | €10,222 | ▲ 20.5% |
| Non-recurring financial charges66B | - | - | - | - | €0 | - |
| Profit (loss) for the period before taxes9903 | -€986 | €14,262 | €5,625 | €1,643 | -€4,470 | ▼ 372% |
| Transfer from deferred taxes780 | - | - | - | - | €0 | - |
| Transfer to deferred taxes680 | - | - | - | - | €0 | - |
| Income taxes67/77 | - | - | - | - | €0 | - |
| Profit (loss) for the period9904 | -€986 | €14,262 | €5,625 | €1,643 | -€4,470 | ▼ 372% |
| Transfer from tax-exempt reserves789 | - | - | - | - | €0 | - |
| Transfer to tax-exempt reserves689 | - | - | - | - | €0 | - |
| Profit (loss) for the period to be appropriated9905 | -€986 | €14,262 | €5,625 | €1,643 | -€4,470 | ▼ 372% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €471,775 | €464,860 | €457,859 | €449,907 | €475,698 | ▲ 5.7% |
| Formation expenses20 | - | - | - | - | €0 | - |
| Fixed assets21/28 | €372,086 | €356,443 | €340,800 | €326,400 | €312,000 | ▼ 4.4% |
| Intangible fixed assets21 | - | - | - | - | €0 | - |
| Tangible fixed assets22/27 | €372,086 | €356,443 | €340,800 | €326,400 | €312,000 | ▼ 4.4% |
| Land and buildings22 | €372,086 | €356,443 | €340,800 | €326,400 | €312,000 | ▼ 4.4% |
| Plant, machinery and equipment23 | - | - | - | - | €0 | - |
| Furniture and vehicles24 | - | - | - | - | €0 | - |
| Leasing and similar rights25 | - | - | - | - | €0 | - |
| Other tangible fixed assets26 | - | - | - | - | €0 | - |
| Assets under construction and advance payments27 | - | - | - | - | €0 | - |
| Financial fixed assets28 | - | - | - | - | €0 | - |
| Current assets29/58 | €99,689 | €108,417 | €117,059 | €123,507 | €163,698 | ▲ 32.5% |
| Amounts receivable after more than one year29 | - | - | - | - | €0 | - |
| Trade receivables290 | - | - | - | - | €0 | - |
| Other amounts receivable291 | - | - | - | - | €0 | - |
| Stocks and contracts in progress3 | - | - | - | - | €0 | - |
| Stocks30/36 | - | - | - | - | €0 | - |
| Contracts in progress37 | - | - | - | - | €0 | - |
| Amounts receivable within one year40/41 | €99,689 | €102,689 | €115,589 | €118,104 | €146,404 | ▲ 24.0% |
| Trade receivables40 | - | - | - | - | €0 | - |
| Other amounts receivable41 | €99,689 | €102,689 | €115,589 | €118,104 | €146,404 | ▲ 24.0% |
| Current investments50/53 | - | - | - | - | €0 | - |
| Cash at bank and in hand54/58 | - | €5,728 | €1,469 | €4,194 | €16,657 | ▲ 297% |
| Deferred charges and accrued income490/1 | - | - | - | €1,208 | €637 | ▼ 47.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €471,775 | €464,860 | €457,859 | €449,907 | €475,698 | ▲ 5.7% |
| Equity10/15 | -€46,804 | -€32,542 | -€26,918 | -€25,275 | -€29,745 | ▼ 17.7% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Capital10 | €6,200 | €6,200 | €6,200 | €6,200 | - | - |
| Issued capital100 | €18,600 | €18,600 | €18,600 | €18,400 | - | - |
| Uncalled capital101 | €12,400 | €12,400 | €12,400 | €12,200 | - | - |
| Revaluation surpluses12 | - | - | - | - | €0 | - |
| Reserves13 | - | - | - | - | €0 | - |
| Non-distributable reserves130/1 | - | - | - | - | €0 | - |
| Reserves not available under the articles1311 | - | - | - | - | €0 | - |
| Own shares acquired1312 | - | - | - | - | €0 | - |
| Financial assistance1313 | - | - | - | - | €0 | - |
| Other1319 | - | - | - | - | €0 | - |
| Tax-exempt reserves132 | - | - | - | - | €0 | - |
| Distributable reserves133 | - | - | - | - | €0 | - |
| Profit (loss) carried forward14 | -€53,004 | -€38,742 | -€33,118 | -€31,475 | -€35,945 | ▼ 14.2% |
| Investment grants15 | - | - | - | - | €0 | - |
| Advance to shareholders on the distribution of net assets19 | - | - | - | - | €0 | - |
| Provisions and deferred taxes16 | - | - | - | - | €0 | - |
| Provisions for liabilities and charges160/5 | - | - | - | - | €0 | - |
| Pensions and similar obligations160 | - | - | - | - | €0 | - |
| Taxes161 | - | - | - | - | €0 | - |
| Major repairs and maintenance162 | - | - | - | - | €0 | - |
| Environmental obligations163 | - | - | - | - | €0 | - |
| Other liabilities and charges164/5 | - | - | - | - | €0 | - |
| Deferred taxes168 | - | - | - | - | €0 | - |
| Amounts payable17/49 | €518,580 | €497,402 | €484,776 | €475,182 | €505,443 | ▲ 6.4% |
| Amounts payable after more than one year17 | €243,681 | €201,546 | €158,108 | €120,146 | €264,642 | ▲ 120% |
| Financial debts170/4 | €243,681 | €201,546 | €158,108 | €120,146 | €264,642 | ▲ 120% |
| Trade debts175 | - | - | - | - | €0 | - |
| Advances received on contracts in progress176 | - | - | - | - | €0 | - |
| Other amounts payable178/9 | - | - | - | - | €0 | - |
| Amounts payable within one year42/48 | €274,899 | €295,857 | €326,669 | €350,336 | €240,801 | ▼ 31.3% |
| Current portion of amounts payable after more than one year42 | €51,101 | €42,135 | €43,438 | €37,961 | €49,792 | ▲ 31.2% |
| Financial debts43 | €1,192 | - | - | - | €0 | - |
| Credit institutions430/8 | €1,192 | - | - | - | €0 | - |
| Other loans439 | - | - | - | - | €0 | - |
| Trade debts44 | - | €5,872 | €19,939 | €11,072 | €13,856 | ▲ 25.1% |
| Suppliers440/4 | - | €5,872 | €19,939 | €10,922 | €13,256 | ▲ 21.4% |
| Bills of exchange payable441 | - | - | - | €150 | €600 | ▲ 300% |
| Advances received on contracts in progress46 | - | - | - | - | €0 | - |
| Taxes, remuneration and social security45 | - | - | - | - | €0 | - |
| Taxes450/3 | - | - | - | - | €0 | - |
| Remuneration and social security454/9 | - | - | - | - | €0 | - |
| Other amounts payable47/48 | €222,605 | €247,849 | €263,291 | €301,303 | €177,154 | ▼ 41.2% |
| Accrued charges and deferred income492/3 | - | - | - | €4,700 | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€986 | €14,262 | €5,625 | €1,643 | -€4,470 | ▼ 372% |
| + Depreciation and write-downs630 | €15,643 | €15,643 | €15,643 | €14,400 | €14,400 | = |
| Operating cash flow (approximation) | €14,657 | €29,905 | €21,268 | €16,043 | €9,930 | ▼ 38.1% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | - | -€4,258 | €2,725 | €12,463 | ▲ 357% |
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
31-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
04-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 4 days late
2024
30-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
16-02
KBO administration
Strikeout withdrawn
event 02-02-2024
02-02
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 186 days late
02-02
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 551 days late
02-02
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 916 days late
02-02
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 1281 days late
2022
31-12
Financial
Back to profitnet €14,262
Net result €14,262 after one loss-making year.
2020
31-12
Financial
Back to profitnet €383
Net result €383 after 2 loss-making years.
2019
31-12
Financial
Weakest financial yearnet -€27,212
Net result drops to -€27,212, the lowest in the series; recovery starts the following year.
22-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 53 days late
2018
24-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
22-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 22 days late
SignalFinancial 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, Liège
Ground area
3,771 m²
Building footprint
432 m²
Volume, LiDAR
3,181 m³
Parcel 62002C0076/00H002, Wallonia · tallest building 10.8 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62002C0076/00H002 | Wallonia | 3,771 m² | 1 · 432 m² | 10.8 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 formPrivate limited company (pre-2019)
Founded12-10-2005
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID
0208:0876646705
Registered
25-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.