MARNA
ActiveMARNA has been active since 1986 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €353k and a net result of €55k. Equity is growing by ~8.7% per year across the filed fiscal years. Its solvency ranks better than 60% of 10253 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
74
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability78▼-8
Solvency71▲+1
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days acceptable
Liquidity tight (current ratio 1.37 against 1.14 in 2024; short-term debt: 45.1% and cash: 23.3% of total assets), and 53.7% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six 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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Sector 47
higher
← fewer bankruptcies
more bankruptcies →
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
46.3%
Return on assets
7.2%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 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
28 d late
2024
45 d early
2023
26 d late
2022
31 d late
2021
16 d late
2020
30 d late
2019
28 d late
← before the deadline
after the deadline →
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
17-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€353k▲ 18.4%
2024 · €299k
2018: €289k
2019: €202k
2020: €177k
2021: €224k
2022: €264k
2023: €307k
2024: €299k
2018 → 2025
Total assets
€763k▲ 16.0%
2024 · €658k
2018: €933k
2019: €909k
2020: €846k
2021: €752k
2022: €708k
2023: €693k
2024: €658k
2018 → 2025
Net result
€55k▼ 40.3%
2024 · €92k
2018: €-84k
2019: €-87k
2020: €-24k
2021: €47k
2022: €39k
2023: €43k
2024: €92k
2018 → 2025
Working capital
€127k▲ 170%
2024 · €47k
2018: €-195k
2019: €-250k
2020: €-210k
2021: €-137k
2022: €-66k
2023: €12k
2024: €47k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€224k-€264k▲ 17.6%€307k▲ 16.4%€299k▼ 2.7%€353k▲ 18.4%
Operating result€59k-€54k▼ 8.5%€57k▲ 5.2%€117k▲ 106%€89k▼ 24.0%
Net result€47k-€39k▼ 15.8%€43k▲ 9.6%€92k▲ 113%€55k▼ 40.3%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 24% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €763k
Fixed assets
€292k▲ 8.5%
Current assets
€471k▲ 21.2%
Equity and liabilities €763k
Equity
€353k▲ 18.4%
Debt
€410k▲ 14.1%
The debt ratio falls from 54.6% to 53.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€140k▼
2024 · €165k
Cash flow
€106k▼
2024 · €140k
Solvency
46.3%▲
2024 · 45.4%
Current ratio
1.37▲
2024 · 1.14
Quick ratio
0.69▲
2024 · 0.42
Debt / equity
1.16▼
2024 · 1.20
ROE
15.5%▼
2024 · 30.7%
ROA
7.2%▼
2024 · 14.0%
Interest coverage
11.50▲
2024 · 9.72
Debt
€410k▲
2024 · €359k
Debt ≤ 1 year
€344k▲
2024 · €342k
Debt > 1 year
€66k▲
2024 · €17k
Income taxes
€23k▲
2024 · €8k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€658k€763k▲
Fixed assets21/28€269k€292k▲
Tangible fixed assets22/27€269k€292k▲
Land and buildings22-€70k
Plant, machinery and equipment23€14k€584▼
Furniture and vehicles24€22k€17k▼
Other tangible fixed assets26€233k€204k▼
Financial fixed assets28€153€153=
Current assets29/58€389k€471k▲
Amounts receivable after more than one year29€0-
Trade receivables290€0-
Stocks and contracts in progress3€244k€233k▼
Stocks30/36€244k€233k▼
Amounts receivable within one year40/41€3k€21k▲
Trade receivables40€2k€4k▲
Other amounts receivable41€644€17k▲
Cash at bank and in hand54/58€142k€178k▲
Deferred charges and accrued income490/1-€39k
Equity and liabilities
Total equity and liabilities10/49€658k€763k▲
Equity10/15€299k€353k▲
Contributions10/11€201k€201k=
Reserves13€98k€152k▲
Tax-exempt reserves132€20k€20k=
Distributable reserves133€78k€133k▲
Profit (loss) carried forward14€0-
Amounts payable17/49€359k€410k▲
Amounts payable after more than one year17€17k€66k▲
Financial debts170/4€17k€66k▲
Amounts payable within one year42/48€342k€344k▲
Current portion of amounts payable after more than one year42€5k€20k▲
Financial debts43€75k€64k▼
Credit institutions430/8€75k€64k▼
Trade debts44€14k€30k▲
Suppliers440/4€14k€30k▲
Taxes, remuneration and social security45€56k€66k▲
Taxes450/3€56k€66k▲
Other amounts payable47/48€192k€164k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€48k€51k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€515-
Other operating charges640/8€6k€3k▼
Gross operating margin9900€171k€143k▼
Operating profit (loss)9901€117k€89k▼
Financial income75/76B-€2k
Recurring financial income75-€2k
Financial charges65/66B€17k€12k▼
Recurring financial charges65€17k€12k▼
Profit (loss) for the period before taxes9903€100k€78k▼
Income taxes67/77€8k€23k▲
Profit (loss) for the period9904€92k€55k▼
Profit (loss) for the period to be appropriated9905€92k€55k▼
Appropriation of the result
Profit (loss) to be appropriated9906€76k€55k▼
Profit (loss) brought forward from the previous period14P€-16k-
Transfer from equity791/2€0-
Transfer to equity691/2€76k€55k▼
To other reserves6921€76k€55k▼
Social balance
Average headcount (FTE)90870.0-
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 28 days late
2025
16-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Highest result since 2018net €92k ▲113%
Operating result €117k, net result €92k, both a record.
26-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 26 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 31 days late
2022
16-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 16 days late
2021
31-12
Financial
Back to profitnet €47k
Net result €47k after 3 loss-making years.
31-12
Financial
Equity above €200kEq €224k ▲26.4%
Equity rises from €177k to €224k.
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 30 days late
2020
28-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 28 days late
2019
31-12
Financial
Weakest financial yearnet €-87k
Net result drops to €-87k, the lowest in the series; recovery starts the following year.
11-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 30 days late
2017
16-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 16 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Erpe-Mere · 1 establishment unit since 1995
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Oudenaardsesteenweg 8479420 Erpe-MereGround area
4,031 m²
Building footprint
230 m²
Volume, LiDAR
1,157 m³
Parcel 41009A0393/00H003, Flanders · tallest building 8.6 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
CALMANI
since 19952.034.195.512
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41009A0393/00H003 | Flanders | 4,031 m² | 1 · 230 m² | 8.6 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
REJOTEX
BE 0446.897.311
Zwevegem · Eq €351k
M & M
BE 0438.558.972
Ranst · Eq €349k
Danini
BE 0843.292.066
Maasmechelen · Eq €359k
Enfants de la Paix
BE 0422.464.395
Verviers · Eq €346k
J.M.T. FASHION
BE 0450.576.381
Herve · Eq €362k
Of 1,272 companies in sector 47512 we hold annual accounts for 581. 432 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded29-11-1986
Fiscal year end31-12
Activities, NACEBEL
47512Retail sale of household textiles and bedding
52410
47120Other non-specialised retail sale
47910Retail trade
Sources
Crossroads Bank for EnterprisesNational Bank · 38 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.