MAROVA
ActiveSummary
MAROVA has been active since 1975 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €90k and a net result of €17k. Equity is growing by ~18.9% per year across the filed fiscal years. Its solvency ranks better than 93% of 1865 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability78=
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €7k at 30 days acceptable
Liquidity ample (current ratio 7.16 against 6.64 in 2024; short-term debt: 12.7% and cash: 60.3% of total assets), and 12.7% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 49
Relative position
BE, all sectors
reference
Land transport and transport via pipelines (NACE 49)
about 141% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
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
87.3%
Return on assets
16%
Age of the figures
9 mo
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 07-05-2026, 85 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
85 d early
2024
41 d early
2023
50 d early
2022
39 d early
2021
47 d early
2020
36 d early
2019
46 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, abbreviated schema
Equity
€90k▲ 22.5%
2024 · €74k
2018: €17klowest in 8 years
2019: €26k▲ +48.8% vs 2018
2020: €41k▲ +56.6% vs 2019
2021: €48k▲ +17.3% vs 2020
2022: €58k▲ +22.4% vs 2021
2023: €60k▲ +3.0% vs 2022
2024: €74k▲ +23.0% vs 2023
2025: €90k▲ +22.5% vs 2024highest in 8 years
2018 → 2025
Total assets
€104k▲ 21.5%
2024 · €85k
2018: €126k
2019: €125k▼ -0.7% vs 2018
2020: €151k▲ +20.4% vs 2019highest in 8 years
2021: €128k▼ -14.9% vs 2020
2022: €133k▲ +3.9% vs 2021
2023: €73k▼ -45.3% vs 2022lowest in 8 years
2024: €85k▲ +16.9% vs 2023
2025: €104k▲ +21.5% vs 2024
2018 → 2025
Net result
€17k▲ 20.0%
2024 · €14k
2018: €1klowest in 8 years
2019: €9k▲ +698% vs 2018
2020: €15k▲ +72.6% vs 2019
2021: €7k▼ -52.2% vs 2020
2022: €11k▲ +51.6% vs 2021
2023: €2k▼ -83.7% vs 2022
2024: €14k▲ +698% vs 2023
2025: €17k▲ +20.0% vs 2024highest in 8 years
2018 → 2025
Working capital
€81k▲ 25.9%
2024 · €64k
2018: €17k
2019: €24k▲ +40.5% vs 2018
2020: €-1k▼ -105% vs 2019lowest in 8 years
2021: €36k▲ +3460% vs 2020
2022: €46k▲ +27.7% vs 2021
2023: €50k▲ +8.4% vs 2022
2024: €64k▲ +27.5% vs 2023
2025: €81k▲ +25.9% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€48k-€58k▲ 22.4%€60k▲ 3.0%€74k▲ 23.0%€90k▲ 22.5%
2021: €48klowest in 5 years
2022: €58k▲ +22.4% vs 2021
2023: €60k▲ +3.0% vs 2022
2024: €74k▲ +23.0% vs 2023
2025: €90k▲ +22.5% vs 2024highest in 5 years
Operating result€8k-€13k▲ 54.3%€2k▼ 83.3%€13k▲ 529%€23k▲ 73.7%
2021: €8k
2022: €13k▲ +54.3% vs 2021
2023: €2k▼ -83.3% vs 2022lowest in 5 years
2024: €13k▲ +529% vs 2023
2025: €23k▲ +73.7% vs 2024highest in 5 years
Net result€7k-€11k▲ 51.6%€2k▼ 83.7%€14k▲ 698%€17k▲ 20.0%
2021: €7k
2022: €11k▲ +51.6% vs 2021
2023: €2k▼ -83.7% vs 2022lowest in 5 years
2024: €14k▲ +698% vs 2023
2025: €17k▲ +20.0% vs 2024highest in 5 years
Turnover and EBIT margin not published: the abbreviated 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 74% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €104k
Fixed assets
€10k =
Current assets
€94k ▲ 24.3%
Equity and liabilities €104k
Equity
€90k ▲ 22.5%
Debt
€13k ▲ 15.3%
Debt's share of the balance-sheet total falls from 13.3% to 12.7%. Equity and debt are higher.
Key figures and ratios
Current ratio
7.16▲
2024 · 6.64
Debt to equity
0.14▼
2024 · 0.15
ROE
18.3%▼
2024 · 18.7%
ROA
16.0%▼
2024 · 16.2%
Debt ≤ 1 year
€13k▲
2024 · €11k
Income taxes
€7k▲
2024 · €1k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 41 lines
Balance sheet
Code20242025
Assets
Total assets20/58€85k€104k▲
Fixed assets21/28€10k€10k=
Intangible fixed assets21€0€0=
Tangible fixed assets22/27€0€0=
Land and buildings22€0€0=
Plant, machinery and equipment23€0€0=
Furniture and vehicles24€0€0=
Financial fixed assets28€10k€10k=
Current assets29/58€75k€94k▲
Amounts receivable within one year40/41€22k€31k▲
Trade receivables40€22k€26k▲
Other amounts receivable41€105€5k▲
Cash at bank and in hand54/58€53k€62k▲
Deferred charges and accrued income490/1€473€473=
Equity and liabilities
Total equity and liabilities10/49€85k€104k▲
Equity10/15€74k€90k▲
Contributions10/11€19k€19k=
Reserves13€55k€72k▲
Tax-exempt reserves132€4k€4k=
Distributable reserves133€52k€68k▲
Amounts payable17/49€11k€13k▲
Amounts payable within one year42/48€11k€13k▲
Trade debts44€6k€5k▼
Suppliers440/4€6k€5k▼
Taxes, remuneration and social security45€2k€8k▲
Taxes450/3€2k€8k▲
Other amounts payable47/48€4k-
Income statement
Code20242025
Other operating charges640/8€1k€1k▲
Gross operating margin9900€15k€25k▲
Operating profit (loss)9901€13k€23k▲
Financial income75/76B€2k€135▼
Recurring financial income75€2k€135▼
Financial charges65/66B€74€53▼
Recurring financial charges65€74€53▼
Profit (loss) for the period before taxes9903€15k€23k▲
Income taxes67/77€1k€7k▲
Profit (loss) for the period9904€14k€17k▲
Profit (loss) for the period to be appropriated9905€14k€17k▲
Appropriation of the result
Profit (loss) to be appropriated9906€14k€17k▲
Transfer to equity691/2€14k€17k▲
To other reserves6921€14k€17k▲
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €48k | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9k | €9k | €2k | - | - | - |
| Other operating charges640/8 | €2k | €1k | €1k | €1k | €1k | ▲ 10.9% |
| Gross operating margin9900 | €67k | €23k | €5k | €15k | €25k | ▲ 69.2% |
| Operating profit (loss)9901 | €8k | €13k | €2k | €13k | €23k | ▲ 73.7% |
| Financial income75/76B | €251 | €10 | - | €2k | €135 | ▼ 92.6% |
| Recurring financial income75 | €251 | €10 | - | €2k | €135 | ▼ 92.6% |
| Financial charges65/66B | €819 | €837 | €236 | €74 | €53 | ▼ 28.6% |
| Recurring financial charges65 | €819 | €837 | €236 | €74 | €53 | ▼ 28.6% |
| Profit (loss) for the period before taxes9903 | €8k | €12k | €2k | €15k | €23k | ▲ 54.4% |
| Income taxes67/77 | €703 | €1k | €173 | €1k | €7k | ▲ 398% |
| Profit (loss) for the period9904 | €7k | €11k | €2k | €14k | €17k | ▲ 20.0% |
| Profit (loss) for the period to be appropriated9905 | €7k | €11k | €2k | €14k | €17k | ▲ 20.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €128k | €133k | €73k | €85k | €104k | ▲ 21.5% |
| Fixed assets21/28 | €11k | €12k | €10k | €10k | €10k | = |
| Intangible fixed assets21 | - | €0 | €0 | €0 | €0 | - |
| Tangible fixed assets22/27 | €11k | €2k | €0 | €0 | €0 | - |
| Land and buildings22 | - | €0 | €0 | €0 | €0 | - |
| Plant, machinery and equipment23 | - | €0 | €0 | €0 | €0 | - |
| Furniture and vehicles24 | €11k | €2k | €0 | €0 | €0 | - |
| Financial fixed assets28 | - | €10k | €10k | €10k | €10k | = |
| Current assets29/58 | €117k | €121k | €63k | €75k | €94k | ▲ 24.3% |
| Amounts receivable within one year40/41 | €50k | €18k | €16k | €22k | €31k | ▲ 39.6% |
| Trade receivables40 | €37k | €17k | €13k | €22k | €26k | ▲ 17.7% |
| Other amounts receivable41 | €12k | €1k | €3k | €105 | €5k | ▲ 4,619% |
| Cash at bank and in hand54/58 | €67k | €103k | €46k | €53k | €62k | ▲ 18.1% |
| Deferred charges and accrued income490/1 | - | - | €452 | €473 | €473 | = |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €128k | €133k | €73k | €85k | €104k | ▲ 21.5% |
| Equity10/15 | €48k | €58k | €60k | €74k | €90k | ▲ 22.5% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €29k | €40k | €41k | €55k | €72k | ▲ 30.0% |
| Non-distributable reserves130/1 | €2k | €2k | - | - | - | - |
| Reserves not available under the articles1311 | €2k | €2k | - | - | - | - |
| Tax-exempt reserves132 | €4k | €4k | €4k | €4k | €4k | = |
| Distributable reserves133 | €23k | €34k | €38k | €52k | €68k | ▲ 32.2% |
| Amounts payable17/49 | €81k | €75k | €13k | €11k | €13k | ▲ 15.3% |
| Amounts payable within one year42/48 | €81k | €75k | €13k | €11k | €13k | ▲ 15.3% |
| Trade debts44 | €3k | €2k | €4k | €6k | €5k | ▼ 20.9% |
| Suppliers440/4 | €3k | €2k | €4k | €6k | €5k | ▼ 20.9% |
| Taxes, remuneration and social security45 | €8k | €2k | €1k | €2k | €8k | ▲ 419% |
| Taxes450/3 | €3k | €2k | €1k | €2k | €8k | ▲ 419% |
| Remuneration and social security454/9 | €5k | - | - | - | - | - |
| Other amounts payable47/48 | €69k | €71k | €8k | €4k | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €7k | €11k | €2k | €14k | €17k | ▲ 20.0% |
| + Depreciation and write-downs630 | €9k | €9k | €2k | - | - | - |
| Operating cash flow (approximation) | €16k | €20k | €4k | €14k | €17k | ▲ 20.0% |
| Investment in fixed assets (approximation) | - | €-10k | €0 | €0 | €0 | - |
| Change in cash | - | €36k | €-57k | €7k | €10k | ▲ 45.0% |
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
07-05
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2018net €17k ▲20%
Operating result €23k, net result €17k, both a record.
20-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
11-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Liquidity triplescurrent ratio 4.91
Current ratio from 1.62 to 4.91; short-term debt falls from €75k to €13k.
22-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
14-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
25-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
15-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
06-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
29-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
30-06
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.
Directors · office · real estate
Directors
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Location & real-estate footprint
Registered office, Hasselt · 1 establishment unit since 1991
Ground area
2,735 m²
Building footprint
84 m²
Volume, LiDAR
403 m³
Parcel 73101B0263/00G000, Flanders · tallest building 6.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MAROVA
since 19912.011.662.412
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 73101B0263/00G000 | Flanders | 2,735 m² | 1 · 84 m² | 6.3 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 12,590 companies in sector 49410 we hold annual accounts for 8,199. 6,323 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
Founded17-12-1975
Fiscal year end31-12
Activities, NACEBEL 2025
49410Freight transport by road
Scores and ratios are computed by Checked and are not a credit decision.