Equity
€19.5m from €154.8m in 2011
Equity fell by 87% in 14 years.
Marlux-Stradus
Lifetime
19 annual accounts with figures on one time axis, 36 filings since 1990peak €66.5m (2007)
€62.9m▼ 3.3%
lowest -€10.9m (2024)
-€7.0m▲ €3.9m
peak €154.8m (2011)
€19.5m▼ 70.6%
€42.6m▲ 111%
peak 247.8 FTE (2022)
214.5 FTE▼ 9.6%
Board34 names since 2007all names
5 directorsDidier Vercruysse and 4 others
Owners3 names in the annual accounts
100%Cruysinvest
Documentsfilings and deeds
18-06-202643 days before the deadline
2025financial year
Loss of €7.0mStaff from 237.2 FTE to 214.5 FTEAppointment: Pieter Jozef F. Wilmots (director) 14-10Appointments: Wirtz Frédéric (director) and De Briey Raynald… 09-092 directors appointed, 3 resignations 22-05Registered office moved to Heusden-Zolder 28-04
Key points
from the 2025 annual accountsLosses
-€20.0m in three years
Every financial year from 2023 to 2025 closed with a loss. 2024 was the heaviest.
Securities
€42.4m
Mortgage mandates, new in 2025. 2.2 times equity · not in the 2024 accounts.
Staff
185 employees on 31-12-2025
In 2025, 27 people joined and 88 left. On top of that, 8.1 agency workers worked there on average.
Filings
36 annual accounts since 1990
The 2023 accounts came 236 days late. The other nine of the last ten were filed on time.
Position in the sector
-€7.0m
Lower net result than 95% of companies in non-metallic mineral products. Sector median €95,285 · 366 companies.
Equity -71%: capital reduction
Checked score
80
Excellent
Financially stronger than 37% of medium-sized companies in non-metallic mineral products (NACE 23)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.5% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 52 companies (NACE 23, medium-sized).
About 5 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.5%lowest value
01-2025: 0.5%● unchanged vs 12-2024lowest value
02-2025: 0.5%● unchanged vs 01-2025lowest value
03-2025: 0.5%● unchanged vs 02-2025
04-2025: 0.5%● unchanged vs 03-2025
05-2025: 0.9%▲ +0.4 percentage points vs 04-2025
06-2025: 0.9%● unchanged vs 05-2025highest value
07-2025: 0.8%▼ -0.1 percentage points vs 06-2025
08-2025: 0.8%● unchanged vs 07-2025
09-2025: 0.8%● unchanged vs 08-2025
10-2025: 0.8%● unchanged vs 09-2025
11-2025: 0.8%● unchanged vs 10-2025
12-2025: 0.8%● unchanged vs 11-2025
01-2026: 0.8%● unchanged vs 12-2025
02-2026: 0.8%● unchanged vs 01-2026
03-2026: 0.8%● unchanged vs 02-2026
04-2026: 0.8%● unchanged vs 03-2026
05-2026: 0.7%▼ -0.1 percentage points vs 04-2026
06-2026: 0.7%● unchanged vs 05-2026
07-2026: 0.5%▼ -0.2 percentage points vs 06-2026
08-2026: 0.5%● unchanged vs 07-2026
09-2026: 0.5%● unchanged vs 08-2026
10-2026: 0.5%● unchanged vs 09-2026
11-2026: 0.5%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Loss of €7.0m, the second in a row (financial year 2025)
1 change of registered office in 24 months
lowers risk
Size: turnover €62.9m, 214.5 FTE, total assets €65.8m
Sector: Manufacture of other non-metallic mineral products (NACE 23)
Calculation
The band follows from the bankruptcy probability. 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 23, medium-sized). It does better than 25% of them on solvency, 87% on liquidity, 12% on profitability and 26% on growth.
The bankruptcy probability was computed on 07-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 1,608 companies had the same profile as Marlux-Stradus has now. Each dot stands for 5 companies, two years later.
88.9%
were still trading
6.7%
stopped another way
4.1%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of Marlux-Stradus itself is lower: 0.5% within 12 months. It rests on far more data about Marlux-Stradus than the profile alone.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,608 companies, not a prediction for Marlux-Stradus. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €1,550,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 2.44 (2.31 in 2024), above the usual 1.5. Short-term debt is 15.7% and cash 4.9% of total assets. However, 70.3% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€7.0m
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 18-06-2026, 43 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
43 days early
2024
35 days early
2023
236 days late
2022
24 days early
2021
24 days early
2020
64 days early
2019
on the day
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 7 days after the deadline. In the sector (NACE 23), the median for financial year 2024 was 10 days before the deadline, and 34% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 7 July (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
08-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- Cruysinvest 100%score 53equity -€897,450 (2025) · annual accounts 2025
- CRH Nederland B.V. consolidatesannual accounts 2024
Recent changes
Permanent representatives: Sofian Milad and Ben Vandeweyer
Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0439579056
Appointment: Pieter Jozef F. Wilmots (director)
Gazette deed
Appointments: Wirtz Frédéric (director) and De Briey Raynald (director)
Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| Marlux-Stradus Heusden-Zolder | €62.9m | -10.1% | 29.7% | 214.5 |
| EBEMA Zutendaal | €61.0m | 4.1% | 36.1% | 127.7 |
| SCHELFHOUT Kinrooi | €95.2m | 3.3% | 42.7% | 299.6 |
| ERGON Lier | €64.2m | 1.2% | 49.6% | 270 |
| PREFACO Lebbeke | €82.8m | 21.2% | 35.6% | 398.8 |
| ETS E. RONVEAUX Ciney | €76.5m | 1.8% | 18.4% | 454.3 |
| TUBOBEL AQUA Tessenderlo-Ham | €38.4m | 1.5% | 45.8% | 132.7 |
Grey: the largest companies of the sector (non-metallic mineral products (NACE 23)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as Marlux-Stradus: manufacture of other non-metallic mineral products (NACE 23610). They are comparable in size and age: total assets between €37m and €92m, founded between 1973 and 1989.
Official details
Source: KBO- Status
- Active since 22-12-1989Normal situation
- Activity
- Manufacture of other non-metallic mineral productsNACE 23610and 1 other
- Joint committees
- 106.02Concrete industry
- 200Auxiliary committee for white-collar workers · annual accounts 2025
- Establishment units
- 2.046.942.1043980 Tessenderlo-Ham, since 06-02-1990
- 2.260.449.5943550 Heusden-Zolder, since 13-01-2017and 2 others
- Financial year end
- 31 December
- Peppol
- Reachable since 10-12-2025
Annual accounts 2025
- €65.8m▼ 26.0%
- Employeeson 31-12-2025
- 185▼ 24.8%
- Filing
- Filed on 18-06-2026, 43 days before the end of the filing period
Insights on Marlux-Stradus
Turnover has fallen every year since 2022. Solvency fell in 2025 from 74.8% to 29.7% because of the loss.
Cruysinvest holds all the shares. In May 2025, three directors stepped down.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about Marlux-Stradus
- What is the company number of Marlux-Stradus?
- The company number of Marlux-Stradus is 0439.579.056. The VAT number is the same number with BE in front: BE 0439.579.056.
- Where is Marlux-Stradus based?
- The registered office is at Dellestraat 41, 3550 Heusden-Zolder.Company details
- What does Marlux-Stradus do?
- According to the KBO register, the main activity is manufacture of other non-metallic mineral products (NACE 23610).
- What is the legal form of Marlux-Stradus?
- Marlux-Stradus is a public limited company (NV).
- When was Marlux-Stradus founded?
- Marlux-Stradus was founded on 22-12-1989.
- Is Marlux-Stradus still active?
- Yes, Marlux-Stradus is an active enterprise in the KBO register.
- How many employees does Marlux-Stradus have?
- Marlux-Stradus had an average of 214.5 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does Marlux-Stradus fall under?
- In its 2025 annual accounts, Marlux-Stradus states joint committees 106.02 (Concrete industry) and 200 (Auxiliary committee for white-collar workers).
- What is the turnover of Marlux-Stradus?
- The turnover of Marlux-Stradus was €62.9m in financial year 2025, according to the filed annual accounts.
- Is Marlux-Stradus profitable?
- In financial year 2025, Marlux-Stradus made a loss of €7.0m.
- Where can I find the annual accounts of Marlux-Stradus?
- Marlux-Stradus filed 36 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of Marlux-Stradus due?
- Marlux-Stradus must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
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