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MARPAU

Active
Public limited companyfounded 200224 yrs activeRue de la Chapelle(WB) 22, 6224 Fleurus, BelgiumKBO/BCE: BE 0476.705.114
Summary

MARPAU has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €562,729 and a net result of €3,559. Equity remains stable across the filed fiscal years (±0.1% per year). The computed 12-month bankruptcy probability is 0.7% (low).

Checked score

Score 2024
Axes · tick = 2023
Profitability39▲+2
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.7% Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €35,000 at 30 days acceptable
short-term debt: 0.4% and cash: 10.6% of total assets, and 0.4% of the assets are financed with debt.
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Signals

Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · No NACE activity registered
No NACE activity is registered in the KBO, which is more common among companies that later fail.
KBO · activities
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 24 years 0 30 y
lowers risk · Lower-risk legal form
Companies with this legal form statistically fail less often than a BV.
KBO · legal form
raises risk · Higher-failure-rate region
In this region companies fail more often than in the rest of the country.
KBO · registered office
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024
Solvency, return and age of the figures
Solvency
99.6%
Return on assets
0.6%
Age of the figures
21 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 17-06-2026, 44 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
44 d early
2024
7 d late
2023
47 d late
2022
31 d late
2021
82 d late
2020
31 d late
2019
136 d late
← before the deadline after the deadline →
tick = median of all Belgian filings

This company filed its last 7 accounts on average 41 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.

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. Usually files around 31 August (4 of the last 5 filed years within 51 days of that day).
Companies Code · seven months
Position in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

MARPAU was incorporated on 18 January 2002.1 Total assets rose from EUR 464,419 in 2018 to EUR 565,194 in 2024.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2018 and 2024

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Financials · fiscal year 2024, micro schema

Equity
€562,729▲ 0.6%
2023 · €559,170
Total assets
€565,194▲ 1.1%
2023 · €559,170
Net result
€3,559
2023 · -€1,704
Working capital
€562,729▼ 0.3%
2020 · €564,313
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
Line20202021202220232024
Operating result€5,480▼ 98.8%-€2,514-€1,061▲ 57.8%-€4,026▼ 279%-€2,950▲ 26.7%
Net result€3,327▼ 98.9%-€2,441-€1,097▲ 55.1%-€1,704▼ 55.3%€3,559
Equity€564,412▲ 0.6%€561,971▼ 0.4%€560,874▼ 0.2%€559,170▼ 0.3%€562,729▲ 0.6%
Total assets€604,640▼ 0.9%€561,971▼ 7.1%€560,874▼ 0.2%€559,170▼ 0.3%€565,194▲ 1.1%
Debt€40,228▼ 18.3%€2,465
Working capital€564,313▲ 0.6%€562,729
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
-€5,000-€2,500€0€2,500€5,000Operating result 2020: €5,480€5,480Net result 2020: €3,327€3,327Operating result 2021: -€2,514-€2,514Net result 2021: -€2,441-€2,441Operating result 2022: -€1,061-€1,061Net result 2022: -€1,097-€1,097Operating result 2023: -€4,026-€4,026Net result 2023: -€1,704-€1,704Operating result 2024: -€2,950-€2,950Net result 2024: €3,559€3,55920202021202220232024-€6,000-€4,000-€2,000€0€2,000€4,000Operating result 2022: -€1,061-€1,060Net result 2022: -€1,097-€1,100Operating result 2023: -€4,026-€4,030Net result 2023: -€1,704-€1,700Operating result 2024: -€2,950-€2,950Net result 2024: €3,559€3,560202220232024
The operating result stays negative: a loss of €2,950 in 2024 against €4,026 in 2023; the loss shrinks.
Balance-sheet composition
Equity and liabilities €565,194
Equity €562,729
Debt €2,465
Debt finances 0.4% of the balance-sheet total.
Key figures and ratios
2024 value · change against 2023
Debt to equity
0.00
ROE
0.6%▲
2023 · -0.3%
ROA
0.6%▲
2023 · -0.3%
Debt ≤ 1 year
€2,465
A ratio outside any meaningful range has been withheld (balance sheet total €565,194, equity €562,729).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 14,732 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 96% are still going.

  • Small
  • 20 years or older
  • solvency 30% or more
  • a profit under 5% of the balance sheet
0.2% went bankrupt
3.5% stopped otherwise
96% still going

A further 0.1% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a higher bankruptcy probability: 0.7% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.

How reliable is this rule?

Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.

The companies in ten equal groups, from lowest to highest expected share.
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% 1.0%
6 1.3% 1.5%
7 1.6% 1.8%
8 1.8% 1.9%
9 3.0% 3.1%
10 5.6% 6.2%

The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.

An observation about 14,732 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.

Annual accounts
Filed annual accounts As filed with the NBB · 2024 against 2023 · 33 lines
Balance sheet Code20232024
Assets
Total assets20/58€559,170€565,194▲
Current assets29/58€559,170€565,194▲
Amounts receivable within one year40/41€3,710€5,714▲
Other amounts receivable41€3,710€5,714▲
Current investments50/53€495,529€499,640▲
Cash at bank and in hand54/58€59,931€59,840▼
Equity and liabilities
Total equity and liabilities10/49€559,170€565,194▲
Equity10/15€559,170€562,729▲
Contributions10/11€124,000€124,000=
Capital10€124,000€124,000=
Issued capital100€124,000€124,000=
Reserves13€432,136€432,136=
Non-distributable reserves130/1€2,136€2,136=
Legal reserve130€2,136€2,136=
Distributable reserves133€430,000€430,000=
Profit (loss) carried forward14€3,034€6,593▲
Amounts payable17/49-€2,465
Amounts payable within one year42/48-€2,465
Trade debts44-€1,388
Suppliers440/4-€1,388
Other amounts payable47/48-€1,077
Income statement Code20232024
Other operating charges640/8-€955
Gross operating margin9900-€4,026-€1,995▲
Operating profit (loss)9901-€4,026-€2,950▲
Financial income75/76B€2,358€6,680▲
Recurring financial income75€2,358€6,680▲
Financial charges65/66B€36€171▲
Recurring financial charges65€36€171▲
Profit (loss) for the period before taxes9903-€1,704€3,559▲
Profit (loss) for the period9904-€1,704€3,559▲
Profit (loss) for the period to be appropriated9905-€1,704€3,559▲
Appropriation of the result
Profit (loss) to be appropriated9906€3,034€6,593▲
Profit (loss) brought forward from the previous period14P€4,738€3,034▼

The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20202021202220232024Change
Other operating charges640/8-€348--€955-
Gross operating margin9900€5,480-€2,166-€1,061-€4,026-€1,995▲ 50.4%
Operating profit (loss)9901€5,480-€2,514-€1,061-€4,026-€2,950▲ 26.7%
Financial income75/76B-€21-€2,358€6,680▲ 183%
Recurring financial income75-€21-€2,358€6,680▲ 183%
Financial charges65/66B-€38€36€36€171▲ 375%
Recurring financial charges65€219€38€36€36€171▲ 375%
Profit (loss) for the period before taxes9903€5,261-€2,531-€1,097-€1,704€3,559▲ 309%
Income taxes67/77€1,934-€90----
Profit (loss) for the period9904€3,327-€2,441-€1,097-€1,704€3,559▲ 309%
Profit (loss) for the period to be appropriated9905€3,327-€2,441-€1,097-€1,704€3,559▲ 309%
Line20202021202220232024Change
Assets
Total assets20/58€604,640€561,971€560,874€559,170€565,194▲ 1.1%
Fixed assets21/28€99€99€99---
Financial fixed assets28€99€99€99---
Current assets29/58€604,541€561,872€560,775€559,170€565,194▲ 1.1%
Amounts receivable within one year40/41€3,003€3,002€3,002€3,710€5,714▲ 54.0%
Other amounts receivable41-€3,002€3,002€3,710€5,714▲ 54.0%
Current investments50/53€500,429€499,029€498,004€495,529€499,640▲ 0.8%
Cash at bank and in hand54/58€101,109€59,841€59,769€59,931€59,840▼ 0.2%
Equity and liabilities
Total equity and liabilities10/49€604,640€561,971€560,874€559,170€565,194▲ 1.1%
Equity10/15€564,412€561,971€560,874€559,170€562,729▲ 0.6%
Contributions10/11€124,000€124,000€124,000€124,000€124,000=
Capital10-€124,000€124,000€124,000€124,000=
Issued capital100-€124,000€124,000€124,000€124,000=
Reserves13€432,136€432,136€432,136€432,136€432,136=
Non-distributable reserves130/1-€2,136€2,136€2,136€2,136=
Legal reserve130-€2,136€2,136€2,136€2,136=
Distributable reserves133-€430,000€430,000€430,000€430,000=
Profit (loss) carried forward14€8,276€5,835€4,738€3,034€6,593▲ 117%
Amounts payable17/49€40,228---€2,465-
Amounts payable within one year42/48€40,228---€2,465-
Trade debts44----€1,388-
Suppliers440/4----€1,388-
Other amounts payable47/48----€1,077-
Line20202021202220232024Change
Profit (loss) for the period9904€3,327-€2,441-€1,097-€1,704€3,559▲ 309%
Operating cash flow (approximation)€3,327-€2,441-€1,097-€1,704€3,559▲ 309%
Investment in fixed assets (approximation)-€0€0---
Change in cash--€41,268-€72€162-€91▼ 156%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

Next filing, fiscal year 2026, expected by 31-07-2027
2026
17-06
NBB filing Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
07-08
NBB filing Annual accounts filed
fiscal year 2024 · micro schema · 7 days late
2024
31-12
Financial Back to profitnet €3,559
Net result €3,559 after 3 loss-making years.
16-09
NBB filing Annual accounts filed
fiscal year 2023 · micro schema · 47 days late
2023
31-08
NBB filing Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
21-10
NBB filing Annual accounts filed
fiscal year 2021 · micro schema · 82 days late
2021
31-08
NBB filing Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
14-12
NBB filing Annual accounts filed
fiscal year 2019 · micro schema · 136 days late
2019
31-12
Financial Back to profitnet €290,476
Net result €290,476 after one loss-making year.
31-12
Financial Liquidity times 5current ratio 12.39
Current ratio from 2.40 to 12.39; short-term debt falls from €193,810 to €49,246.
31-12
Financial Equity above €500,000Eq €561,085 ▲107%
Equity rises from €270,609 to €561,085.
30-08
NBB filing Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
10-10
NBB filing Annual accounts filed
fiscal year 2017 · micro schema · 71 days late
2017
06-09
NBB filing Annual accounts filed
fiscal year 2016 · micro schema · 37 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts

We know of 4 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
4 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, Fleurus · 1 establishment unit since 2002
seat establishment approximate The establishment unit on the map
Ground area
7,013 m²
Building footprint
109 m²
Volume, LiDAR
817 m³
2 parcels, Wallonia · tallest building 11.1 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
LE MOULIN JAUNE I
Rue de Marchienne(GOZ), 6534 ThuinNACE 55301
since 20022.099.053.373
2 parcels
Wallonia 2 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
56030B0171/00B000 Wallonia 6,813 m² 1 · 27 m² 5.9 m · 1 fl.
52071B0334/00K002 Wallonia 200 m² 1 · 82 m² 11.1 m · 3 fl.
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.

Identification & contact

Identification
Legal formPublic limited company
Founded18-01-2002
Fiscal year end31-12
E-invoicing
Not found in the Peppol register

No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.

What can you do?

Try sending from your invoicing software; if that fails, ask the customer whether they already receive via Peppol.

If the customer is not ready yet, you may send the invoice another way, for example as a PDF; if electronically, with their agreement on a secure alternative. That invoice is valid; the customer risks a penalty. FPS Finance

If you follow this company, Checked tells you the day it appears in the Peppol register.

Register as of 29 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.