Marman
ActiveSummary
Marman is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show negative equity (€-165k) and a net result of €37k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 5% of 8048 sector peers (fiscal year 2025). The company has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The health score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
Credit check for your own amount and term
Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 8048 sector peers (2025).
NBB · sector comparisonPosition among 8048 sector peers
Solvency
better than 5%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 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
31 d late
2024
13 d late
2023
34 d early
2022
7 d late
2021
16 d early
2020
12 d early
2019
24 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€-165k▲ 18.2%
2024 · €-202k
Net result
€37k▼ 61.5%
2024 · €95k
Total assets
€12k▲ 40.3%
2024 · €8k
Solvency
-1408.4%▲ 1006.2pp
2024 · -2414.7%
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€87k▲ 262%€73k▼ 16.0%€16k▼ 78.0%€19k▲ 19.2%€53k▲ 180%
Net result€59k▲ 510%€46k▼ 22.7%€-681k€95k€37k▼ 61.5%
Equity€337k▲ 21.4%€383k▲ 13.6%€-297k€-202k▲ 32.1%€-165k▲ 18.2%
Total assets€728k▲ 1.7%€746k▲ 2.5%€46k▼ 93.8%€8k▼ 81.9%€12k▲ 40.3%
Debt€390k▼ 10.9%€363k▼ 7.1%€344k▼ 5.2%€210k▼ 38.8%€177k▼ 15.8%
Working capital€-217k▼ 5.8%€-183k▲ 15.7%€-183k=€-71k▲ 61.0%€-44k▲ 39.0%
Solvency46.4%▲ 7.5pp51.4%▲ 5.0pp-642.0%▼ 693.4pp-2414.7%▼ 1772.7pp-1408.4%▲ 1006.2pp
Staff (FTE)00
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 180% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €12k
Fixed assets
€1k ▼ 25.2%
Current assets
€11k ▲ 55.9%
Key figures and ratios
ROA
312.3%
Debt ≤ 1 year
€54k▼
2024 · €78k
Debt > 1 year
€123k▼
2024 · €132k
Income taxes
€15k▲
2024 · €4k
A ratio outside any meaningful range has been withheld (balance sheet total €12k, equity €-165k).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | €12 | €405 | €405 | = |
| Other operating charges640/8 | €2k | €751 | €1k | €6k | €2k | ▼ 68.8% |
| Gross operating margin9900 | €88k | €74k | €17k | €25k | €55k | ▲ 121% |
| Operating profit (loss)9901 | €87k | €73k | €16k | €19k | €53k | ▲ 180% |
| Financial income75/76B | €1 | €15 | €0 | €83k | €57 | ▼ 99.9% |
| Recurring financial income75 | €1 | €15 | €0 | €83k | €57 | ▼ 99.9% |
| Financial charges65/66B | €12k | €14k | €695k | €3k | €2k | ▼ 32.8% |
| Recurring financial charges65 | €12k | €14k | €10k | €3k | €2k | ▼ 32.8% |
| Non-recurring financial charges66B | - | - | €684k | - | - | - |
| Profit (loss) for the period before taxes9903 | €75k | €59k | €-679k | €99k | €51k | ▼ 48.5% |
| Income taxes67/77 | €15k | €13k | €2k | €4k | €15k | ▲ 258% |
| Profit (loss) for the period9904 | €59k | €46k | €-681k | €95k | €37k | ▼ 61.5% |
| Profit (loss) for the period to be appropriated9905 | €59k | €46k | €-681k | €95k | €37k | ▼ 61.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €728k | €746k | €46k | €8k | €12k | ▲ 40.3% |
| Fixed assets21/28 | €709k | €709k | €27k | €2k | €1k | ▼ 25.2% |
| Tangible fixed assets22/27 | - | - | €2k | €2k | €1k | ▼ 25.2% |
| Furniture and vehicles24 | - | - | €2k | €2k | €1k | ▼ 25.2% |
| Financial fixed assets28 | €709k | €709k | €25k | - | - | - |
| Current assets29/58 | €18k | €37k | €19k | €7k | €11k | ▲ 55.9% |
| Amounts receivable within one year40/41 | €17k | €36k | €17k | €272 | €10k | ▲ 3,601% |
| Trade receivables40 | €17k | €35k | €17k | - | €10k | - |
| Other amounts receivable41 | €0 | €109 | €664 | €272 | €485 | ▲ 78.3% |
| Cash at bank and in hand54/58 | €2k | €1k | €2k | €6k | €15 | ▼ 99.8% |
| Deferred charges and accrued income490/1 | - | €36 | €8 | - | €450 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €728k | €746k | €46k | €8k | €12k | ▲ 40.3% |
| Equity10/15 | €337k | €383k | €-297k | €-202k | €-165k | ▲ 18.2% |
| Contributions10/11 | €6k | €6k | €6k | €6k | €6k | = |
| Reserves13 | €331k | €377k | €377k | - | - | - |
| Non-distributable reserves130/1 | €2k | €2k | €0 | - | - | - |
| Reserves not available under the articles1311 | €2k | €2k | €0 | - | - | - |
| Distributable reserves133 | €329k | €375k | €377k | - | - | - |
| Profit (loss) carried forward14 | - | - | €-681k | €-208k | €-172k | ▲ 17.6% |
| Amounts payable17/49 | €390k | €363k | €344k | €210k | €177k | ▼ 15.8% |
| Amounts payable after more than one year17 | €155k | €143k | €141k | €132k | €123k | ▼ 7.0% |
| Financial debts170/4 | €155k | €143k | €141k | - | €123k | - |
| Other amounts payable178/9 | - | - | - | €132k | - | - |
| Amounts payable within one year42/48 | €235k | €220k | €202k | €78k | €54k | ▼ 30.8% |
| Current portion of amounts payable after more than one year42 | €71k | €12k | €0 | - | - | - |
| Financial debts43 | - | - | €1k | - | €1k | - |
| Credit institutions430/8 | - | - | €1k | - | €1k | - |
| Trade debts44 | €8k | €7k | €18k | €2k | €3k | ▲ 57.9% |
| Suppliers440/4 | €8k | €7k | €18k | €2k | €3k | ▲ 57.9% |
| Taxes, remuneration and social security45 | €8k | €24k | €2k | €10k | €19k | ▲ 85.0% |
| Taxes450/3 | €8k | €24k | €2k | €10k | €19k | ▲ 85.0% |
| Other amounts payable47/48 | €148k | €177k | €181k | €66k | €31k | ▼ 52.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €59k | €46k | €-681k | €95k | €37k | ▼ 61.5% |
| + Depreciation and write-downs630 | - | - | €12 | €405 | €405 | = |
| Operating cash flow (approximation) | €59k | €46k | €-681k | €96k | €37k | ▼ 61.3% |
| Investment in fixed assets (approximation) | - | €0 | €682k | €25k | €0 | ▼ 100% |
| Change in cash | - | €-592 | €923 | €4k | €-6k | ▼ 246% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
13-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 13 days late
2024
31-12
Financial
Back to profitnet €95k
Net result €95k after one loss-making year.
27-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Weakest financial yearnet €-681k
Net result drops to €-681k, the lowest in the series; recovery starts the following year.
07-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 7 days late
2022
15-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
19-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
07-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
09-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
29-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
05-07
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 3 acts read
About the unread acts
We know of 3 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
3 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, Antwerpen · 1 establishment unit since 2015
Ground area
262 m²
Building footprint
119 m²
Volume, LiDAR
629 m³
Parcel 11003A0357/00X000, Flanders · tallest building 6.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Marman
since 20152.245.677.682
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11003A0357/00X000 | Flanders | 262 m² | 1 · 119 m² | 6.9 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.
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Of 24,730 companies in sector 64210 we hold annual accounts for 19,766. 13,771 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded10-09-2015
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
Scores and ratios are computed by Checked and are not a credit decision.