MARPHEE
ActiveSummary
MARPHEE has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €46,914 and a net result of €29,621. Equity is growing by ~12% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+3
Solvency100▲+17
Growth78=
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4,000 at 30 days acceptable
Liquidity ample (current ratio 4.83 against 2.34 in 2024; short-term debt: 19.7% and cash: 76.1% of total assets), and 19.7% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
80.3%
Return on assets
50.7%
Age of the figures
9 mo
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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 09-04-2026, 113 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
113 d early
2024
44 d early
2023
34 d late
2022
4 d early
2021
3 d early
2020
20 d late
2019
41 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 10 days before 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 27 July (4 of the last 5 filed years within 40 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€46,914▼ 10.8%
2024 · €52,587
Total assets
€58,421▼ 35.7%
2024 · €90,808
Net result
€29,621▲ 42.1%
2024 · €20,843
Working capital
€44,118▼ 2.8%
2024 · €45,396
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€4,912▼ 78.9%€5,856▲ 19.2%€17,240▲ 194%€32,079▲ 86.1%€42,513▲ 32.5%
Net result-€72€617€6,797▲ 1,002%€20,843▲ 207%€29,621▲ 42.1%
Equity€31,473▼ 0.2%€32,090▲ 2.0%€31,744▼ 1.1%€52,587▲ 65.7%€46,914▼ 10.8%
Total assets€119,559▼ 15.8%€101,184▼ 15.4%€83,763▼ 17.2%€90,808▲ 8.4%€58,421▼ 35.7%
Debt€88,086▼ 20.3%€69,094▼ 21.6%€52,019▼ 24.7%€38,221▼ 26.5%€11,507▼ 69.9%
Working capital-€922▲ 68.5%€9,088€18,825▲ 107%€45,396▲ 141%€44,118▼ 2.8%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 33% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €58,421
Fixed assets
€2,797 ▼ 75.5%
Current assets
€55,624 ▼ 29.9%
Equity and liabilities €58,421
Equity
€46,914 ▼ 10.8%
Debt
€11,507 ▼ 69.9%
Debt's share of the balance-sheet total falls from 42.1% to 19.7%. Equity and debt are lower.
Key figures and ratios
EBITDA
€52,030▼
2024 · €58,969
Cash flow
€39,138▼
2024 · €47,732
Current ratio
4.83▲
2024 · 2.34
Debt to equity
0.25▼
2024 · 0.73
ROE
63.1%▲
2024 · 39.6%
ROA
50.7%▲
2024 · 23.0%
Interest coverage
45.37▲
2024 · 32.61
Debt ≤ 1 year
€11,507▼
2024 · €34,004
Income taxes
€11,746▲
2024 · €9,428
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,975 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.6%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.2% over twelve months; the group does not contradict it.
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%.
| 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 26,975 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
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €27,466 | €27,712 | €27,059 | €26,889 | €9,517 | ▼ 64.6% |
| Other operating charges640/8 | €245 | €250 | €158 | €597 | €1,976 | ▲ 231% |
| Non-recurring operating charges66A | - | - | €11,282 | - | - | - |
| Gross operating margin9900 | €32,624 | €33,819 | €55,739 | €59,566 | €54,007 | ▼ 9.3% |
| Operating profit (loss)9901 | €4,912 | €5,856 | €17,240 | €32,079 | €42,513 | ▲ 32.5% |
| Financial income75/76B | €0 | €563 | - | - | €1 | - |
| Recurring financial income75 | €0 | €563 | - | - | €1 | - |
| Financial charges65/66B | €4,196 | €4,009 | €2,418 | €1,808 | €1,147 | ▼ 36.6% |
| Recurring financial charges65 | €4,196 | €4,009 | €2,418 | €1,808 | €1,147 | ▼ 36.6% |
| Profit (loss) for the period before taxes9903 | €717 | €2,409 | €14,821 | €30,271 | €41,367 | ▲ 36.7% |
| Income taxes67/77 | €789 | €1,793 | €8,025 | €9,428 | €11,746 | ▲ 24.6% |
| Profit (loss) for the period9904 | -€72 | €617 | €6,797 | €20,843 | €29,621 | ▲ 42.1% |
| Profit (loss) for the period to be appropriated9905 | -€72 | €617 | €6,797 | €20,843 | €29,621 | ▲ 42.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €119,559 | €101,184 | €83,763 | €90,808 | €58,421 | ▼ 35.7% |
| Formation expenses20 | €1,211 | €303 | - | - | - | - |
| Fixed assets21/28 | €87,952 | €61,148 | €35,761 | €11,408 | €2,797 | ▼ 75.5% |
| Intangible fixed assets21 | €86,405 | €60,331 | €34,256 | €8,182 | €0 | ▼ 100% |
| Tangible fixed assets22/27 | €1,547 | €817 | €1,504 | €3,227 | €2,797 | ▼ 13.3% |
| Land and buildings22 | €902 | €656 | €1,504 | €410 | €287 | ▼ 30.0% |
| Furniture and vehicles24 | €645 | €161 | - | €2,817 | €1,672 | ▼ 40.6% |
| Other tangible fixed assets26 | - | - | - | - | €838 | - |
| Current assets29/58 | €30,396 | €39,734 | €48,002 | €79,400 | €55,624 | ▼ 29.9% |
| Amounts receivable within one year40/41 | €25,015 | €26,615 | €29,278 | €35,163 | €10,943 | ▼ 68.9% |
| Trade receivables40 | €11,967 | €11,360 | - | - | - | - |
| Other amounts receivable41 | €13,048 | €15,255 | €29,278 | €35,163 | €10,943 | ▼ 68.9% |
| Cash at bank and in hand54/58 | €5,381 | €13,118 | €17,318 | €39,037 | €44,467 | ▲ 13.9% |
| Deferred charges and accrued income490/1 | - | - | €1,406 | €5,201 | €214 | ▼ 95.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €119,559 | €101,184 | €83,763 | €90,808 | €58,421 | ▼ 35.7% |
| Equity10/15 | €31,473 | €32,090 | €31,744 | €52,587 | €46,914 | ▼ 10.8% |
| Contributions10/11 | €6,200 | €6,200 | - | €6,200 | €6,200 | = |
| Capital10 | €6,200 | €6,200 | - | - | - | - |
| Issued capital100 | €18,600 | €18,600 | - | - | - | - |
| Uncalled capital101 | €12,400 | €12,400 | - | - | - | - |
| Reserves13 | €881 | €881 | €13,878 | €28,521 | €28,521 | = |
| Non-distributable reserves130/1 | €881 | €881 | - | - | - | - |
| Legal reserve130 | €881 | €881 | - | - | - | - |
| Distributable reserves133 | - | - | €13,878 | €28,521 | €28,521 | = |
| Profit (loss) carried forward14 | €24,393 | €25,009 | €17,866 | €17,866 | €12,193 | ▼ 31.8% |
| Amounts payable17/49 | €88,086 | €69,094 | €52,019 | €38,221 | €11,507 | ▼ 69.9% |
| Amounts payable after more than one year17 | €56,768 | €38,448 | €22,841 | €4,217 | - | - |
| Financial debts170/4 | €56,768 | €38,448 | €22,841 | €4,217 | - | - |
| Amounts payable within one year42/48 | €31,318 | €30,646 | €29,177 | €34,004 | €11,507 | ▼ 66.2% |
| Current portion of amounts payable after more than one year42 | €29,120 | €24,228 | €20,154 | €31,449 | €4,217 | ▼ 86.6% |
| Trade debts44 | €1,362 | €1,858 | €1,201 | €1,280 | €1,995 | ▲ 55.9% |
| Suppliers440/4 | €1,362 | €1,858 | €1,201 | €1,280 | €1,995 | ▲ 55.9% |
| Taxes, remuneration and social security45 | €836 | - | €680 | €1,275 | €5,294 | ▲ 315% |
| Taxes450/3 | €836 | - | €680 | €1,275 | €5,294 | ▲ 315% |
| Other amounts payable47/48 | - | €4,560 | €7,143 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€72 | €617 | €6,797 | €20,843 | €29,621 | ▲ 42.1% |
| + Depreciation and write-downs630 | €27,466 | €27,712 | €27,059 | €26,889 | €9,517 | ▼ 64.6% |
| Operating cash flow (approximation) | €27,394 | €28,329 | €33,856 | €47,732 | €39,138 | ▼ 18.0% |
| Investment in fixed assets (approximation) | - | -€908 | -€1,672 | -€2,537 | -€906 | ▲ 64.3% |
| Change in cash | - | €7,737 | €4,200 | €21,718 | €5,431 | ▼ 75.0% |
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
09-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2018net €29,621 ▲42.1%
Operating result €42,513, net result €29,621, both a record.
31-12
Financial
Liquidity doublescurrent ratio 4.83
Current ratio from 2.34 to 4.83; short-term debt falls from €34,004 to €11,507.
17-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
03-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 34 days late
2023
27-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €617
Net result €617 after one loss-making year.
28-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
20-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 20 days late
2020
31-12
Financial
Back to profitnet €14,523
Net result €14,523 after one loss-making year.
10-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 41 days late
2019
31-12
Financial
Weakest financial yearnet -€6,796
Net result drops to -€6,796, the lowest in the series; recovery starts the following year.
20-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 20 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, Manage · 1 establishment unit since 2018
Ground area
5,034 m²
Building footprint
3 m²
Volume, LiDAR
2 m³
Parcel 52004A0206/00A003, Wallonia · tallest building 0.9 m. Linked by address, not a title deed.
1 establishment unit
MARPHEE
since 20182.275.596.244
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52004A0206/00A003 | Wallonia | 5,033 m² | 1 · 3 m² | 0.9 m |
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.
Identification & contact
Identification
Legal formPrivate limited company
Founded17-04-2018
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID
0208:0694820995
Also
9925:BE0694820995
Registered
02-03-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.