MARNELL
ActiveMARNELL has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €396k and a net result of €-24k. Equity is growing by ~13.1% per year across the filed fiscal years. Its solvency ranks better than 45% of 31616 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
63
/ 100
Healthy
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability18=
Solvency75=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €24k at 30 days acceptable
Liquidity ample (current ratio 5.83 against 6.35 in 2024; short-term debt: 5.1% and cash: 2.1% of total assets), and 49.6% 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 · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Sector 70
lower
← fewer bankruptcies
more bankruptcies →
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
50.4%
Return on assets
-3.1%
Age of the figures
18 mo
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
19202122232425
2019 to 2025 · latest year €-24k
neutral · Filed after the deadline
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 17-11-2025, 17 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 · 8 filingsDeviation from the deadline
2025
17 d late
2024
32 d late
2023
30 d late
2022
10 d late
2021
4 d late
2020
18 d late
2019
1 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close19-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, micro schema
Equity
€396k▼ 5.7%
2024 · €420k
2019: €154k
2020: €206k
2021: €312k
2022: €507k
2023: €447k
2024: €420k
2019 → 2025
Total assets
€784k▼ 6.8%
2024 · €841k
2019: €440k
2020: €759k
2021: €829k
2022: €1.08M
2023: €994k
2024: €841k
2019 → 2025
Net result
€-24k▲ 13.2%
2024 · €-28k
2019: €109k
2020: €52k
2021: €106k
2022: €195k
2023: €-60k
2024: €-28k
2019 → 2025
Working capital
€193k▼ 12.1%
2024 · €219k
2019: €156k
2020: €29k
2021: €133k
2022: €325k
2023: €251k
2024: €219k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€312k-€507k▲ 62.7%€447k▼ 11.9%€420k▼ 6.2%€396k▼ 5.7%
Operating result€108k-€290k▲ 168%€-56k€-24k▲ 56.4%€-22k▲ 9.3%
Net result€106k-€195k▲ 84.0%€-60k€-28k▲ 54.1%€-24k▲ 13.2%
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 stays negative: a loss of €22k in 2025 against €24k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €784k
Fixed assets
€551k▼ 5.1%
Current assets
€233k▼ 10.6%
Equity and liabilities €784k
Equity
€396k▼ 5.7%
Debt
€389k▼ 7.9%
The debt ratio falls from 50.1% to 49.6%. Equity and debt are lower.
Key figures and ratios
EBITDA
€3k▼
2024 · €3k
Cash flow
€839▲
2024 · €-209
Solvency
50.4%▲
2024 · 49.9%
Current ratio
5.83▼
2024 · 6.35
Quick ratio
5.83▼
2024 · 6.35
Debt / equity
0.98▼
2024 · 1.01
ROE
-6.1%▲
2024 · -6.6%
ROA
-3.1%▲
2024 · -3.3%
Interest coverage
0.36▼
2024 · 0.37
Debt
€389k▼
2024 · €422k
Debt ≤ 1 year
€40k▼
2024 · €41k
Debt > 1 year
€346k▼
2024 · €378k
Income taxes
€316▲
2024 · €303
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€841k€784k▼
Fixed assets21/28€581k€551k▼
Tangible fixed assets22/27€581k€551k▼
Land and buildings22€574k€550k▼
Plant, machinery and equipment23€2k€1k▼
Furniture and vehicles24€5k€394▼
Current assets29/58€260k€233k▼
Amounts receivable after more than one year29€175k€175k=
Other amounts receivable291€175k€175k=
Amounts receivable within one year40/41€22k€32k▲
Trade receivables40€7k€7k=
Other amounts receivable41€15k€25k▲
Cash at bank and in hand54/58€55k€16k▼
Deferred charges and accrued income490/1€8k€9k▲
Equity and liabilities
Total equity and liabilities10/49€841k€784k▼
Equity10/15€420k€396k▼
Contributions10/11€19k€19k=
Reserves13€488k€488k=
Distributable reserves133€488k€488k=
Profit (loss) carried forward14€-88k€-112k▼
Amounts payable17/49€422k€389k▼
Amounts payable after more than one year17€378k€346k▼
Financial debts170/4€378k€346k▼
Amounts payable within one year42/48€41k€40k▼
Current portion of amounts payable after more than one year42€32k€32k▲
Trade debts44€5k€5k▼
Suppliers440/4€5k€5k▼
Taxes, remuneration and social security45€4k€3k▼
Taxes450/3€4k€3k▼
Accrued charges and deferred income492/3€3k€3k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€27k€25k▼
Other operating charges640/8€6k€5k▼
Gross operating margin9900€9k€8k▼
Operating profit (loss)9901€-24k€-22k▲
Financial income75/76B€5k€6k▲
Recurring financial income75€5k€6k▲
Financial charges65/66B€8k€8k▼
Recurring financial charges65€8k€8k▼
Profit (loss) for the period before taxes9903€-27k€-24k▲
Income taxes67/77€303€316▲
Profit (loss) for the period9904€-28k€-24k▲
Profit (loss) for the period to be appropriated9905€-28k€-24k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-88k€-112k▼
Profit (loss) brought forward from the previous period14P€-60k€-88k▼
The notes to these accounts (11 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
2025
17-11
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 17 days late
2024
02-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 32 days late
31-03
Financial
Liquidity doublescurrent ratio 6.35
Current ratio from 2.87 to 6.35; short-term debt falls from €134k to €41k.
2023
30-11
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
31-03
Financial
Weakest financial yearnet €-60k ▼131%
Net result drops to €-60k, the lowest in the series; recovery starts the following year.
2022
10-11
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 10 days late
31-03
Financial
Highest result since 2019net €195k ▲84%
Operating result €290k, net result €195k, both a record.
31-03
Financial
Equity above €500kEq €507k ▲62.7%
4 profitable years in a row build equity to €507k.
2021
04-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 4 days late
31-03
Financial
Liquidity triplescurrent ratio 4.07
Current ratio from 1.62 to 4.07; short-term debt falls from €47k to €43k.
2020
18-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 18 days late
31-03
Financial
Equity above €200kEq €206k ▲33.6%
2 profitable years in a row build equity to €206k.
2019
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
20-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
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, Geraardsbergen · 1 establishment unit since 2016
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.
Edingseweg(Moe) 210A9500 GeraardsbergenGround area
7,727 m²
Building footprint
1,391 m²
Parcel 41041B0699/00A000, Flanders. Linked by address, not a title deed.
1 establishment unit
MARNELL
since 20162.254.256.343
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41041B0699/00A000 | Flanders | 7,727 m² | 1 · 1,390 m² | - |
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.
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Of 82,554 companies in sector 70200 we hold annual accounts for 52,573. 36,447 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded08-06-2016
Fiscal year end31-03
Activities, NACEBEL
70200Business and other management consultancy
70220Business consulting
Sources
Crossroads Bank for EnterprisesNational Bank · 8 filingsAddress and cadastre registers
Data from official sources, last processed on 18-09-2026. Scores and ratios are computed by Checked and are not a credit decision.