MARRANELLO
ActiveMARRANELLO has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €1.31M and a net result of €48k. Equity is growing by ~7.8% per year across the filed fiscal years. Its solvency ranks better than 64% of 2091 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2024
69
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability71▲+1
Solvency70▲+5
Growth78=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €90k at 30 days acceptable
Liquidity short (current ratio 0.63 against 0.54 in 2023; short-term debt: 6.4% and cash: 2.2% of total assets), and 54.9% 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 10
Relative position
BE, all sectors
reference
Sector 10
higher
← 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 2024Solvency, return and age of the figures
Solvency
45.1%
Return on assets
1.7%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 23-06-2025, 38 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
38 d early
2023
169 d early
2022
41 d early
2021
34 d early
2020
155 d early
2019
35 d early
← before the deadline
after the deadline →
Financials · fiscal year 2024, micro schema
Equity
€1.31M▲ 4.9%
2023 · €1.25M
2018: €683k
2019: €906k
2020: €1.06M
2021: €1.15M
2022: €1.24M
2023: €1.25M
2018 → 2024
Total assets
€2.90M▼ 6.5%
2023 · €3.10M
2018: €3.07M
2019: €3.19M
2020: €3.15M
2021: €3.32M
2022: €3.32M
2023: €3.10M
2018 → 2024
Net result
€48k▲ 132%
2023 · €21k
2018: €-25k
2019: €69k
2020: €115k
2021: €95k
2022: €91k
2023: €21k
2018 → 2024
Working capital
€-69k▲ 34.1%
2023 · €-105k
2018: €-176k
2019: €-186k
2020: €-92k
2021: €-179k
2022: €-157k
2023: €-105k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€1.06M-€1.15M▲ 8.1%€1.24M▲ 8.0%€1.25M▲ 0.7%€1.31M▲ 4.9%
Operating result€163k-€141k▼ 13.1%€136k▼ 4.0%€52k▼ 61.4%€88k▲ 68.7%
Net result€115k-€95k▼ 16.9%€91k▼ 4.3%€21k▼ 77.2%€48k▲ 132%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 69% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €2.90M
Fixed assets
€2.78M▼ 6.5%
Current assets
€117k▼ 5.5%
Equity and liabilities €2.90M
Equity
€1.31M▲ 4.9%
Debt
€1.59M▼ 14.1%
The debt ratio falls from 59.8% to 54.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€290k▲
2023 · €279k
Cash flow
€250k▲
2023 · €248k
Solvency
45.1%▲
2023 · 40.2%
Current ratio
0.63▲
2023 · 0.54
Quick ratio
0.46▲
2023 · 0.37
Debt / equity
1.22▼
2023 · 1.49
ROE
3.7%▲
2023 · 1.7%
ROA
1.7%▲
2023 · 0.7%
Interest coverage
8.66▲
2023 · 7.99
Debt
€1.59M▼
2023 · €1.86M
Debt ≤ 1 year
€186k▼
2023 · €228k
Debt > 1 year
€1.40M▼
2023 · €1.62M
Income taxes
€109▲
2023 · €99
Staff costs
€28k▲
2023 · €24k
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 · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€3.10M€2.90M▼
Fixed assets21/28€2.98M€2.78M▼
Intangible fixed assets21€6k€4k▼
Tangible fixed assets22/27€2.97M€2.78M▼
Land and buildings22€2.68M€2.57M▼
Plant, machinery and equipment23€150k€150k▲
Furniture and vehicles24€139k€53k▼
Other tangible fixed assets26€430€336▼
Financial fixed assets28€4k€4k▲
Current assets29/58€123k€117k▼
Stocks and contracts in progress3€39k€31k▼
Stocks30/36€39k€31k▼
Amounts receivable within one year40/41€43k€8k▼
Trade receivables40€11k€8k▼
Other amounts receivable41€31k-
Cash at bank and in hand54/58€34k€65k▲
Deferred charges and accrued income490/1€8k€12k▲
Equity and liabilities
Total equity and liabilities10/49€3.10M€2.90M▼
Equity10/15€1.25M€1.31M▲
Contributions10/11€1.15M€1.15M=
Profit (loss) carried forward14€82k€130k▲
Investment grants15€18k€31k▲
Amounts payable17/49€1.86M€1.59M▼
Amounts payable after more than one year17€1.62M€1.40M▼
Financial debts170/4€1.13M€981k▼
Other amounts payable178/9€494k€420k▼
Amounts payable within one year42/48€228k€186k▼
Current portion of amounts payable after more than one year42€121k€123k▲
Trade debts44€82k€30k▼
Suppliers440/4€82k€30k▼
Advances received on contracts in progress46€4k€4k=
Taxes, remuneration and social security45€6k€22k▲
Taxes450/3€1k€15k▲
Remuneration and social security454/9€5k€7k▲
Other amounts payable47/48€14k€6k▼
Accrued charges and deferred income492/3€5k€7k▲
Income statement
Code20232024
Remuneration, social security and pensions62€24k€28k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€227k€201k▼
Other operating charges640/8€22k€25k▲
Gross operating margin9900€326k€343k▲
Operating profit (loss)9901€52k€88k▲
Financial income75/76B€3k€2k▼
Recurring financial income75€3k€2k▼
Financial charges65/66B€35k€42k▲
Recurring financial charges65€35k€33k▼
Non-recurring financial charges66B-€8k
Profit (loss) for the period before taxes9903€21k€48k▲
Income taxes67/77€99€109▲
Profit (loss) for the period9904€21k€48k▲
Profit (loss) for the period to be appropriated9905€21k€48k▲
Appropriation of the result
Profit (loss) to be appropriated9906€82k€130k▲
Profit (loss) brought forward from the previous period14P€61k€82k▲
The notes to these accounts (12 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
23-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
13-02
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
20-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
27-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
26-02
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Highest result since 2018net €115k ▲66.4%
Operating result €163k, net result €115k, both a record.
31-12
Financial
Equity above €1MEq €1.06M ▲17%
2 profitable years in a row build equity to €1.06M.
26-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Back to profitnet €69k
Net result €69k after one loss-making year.
10-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
22-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 22 days late
2017
28-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
25-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 25 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
8 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, Baelen · 1 establishment unit since 2005
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.
Rue Cardijn(MCH) 134837 BaelenGround area
1,690 m²
Building footprint
432 m²
Volume, LiDAR
2,738 m³
2 parcels, Wallonia · tallest building 12.4 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Boulangerie Saive Brötchenhaus
since 20052.148.152.595
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 63051A0177/00H000 | Wallonia | 1,345 m² | 1 · 312 m² | 12.4 m · 3 fl. |
| 63023B0130/00L000 | Wallonia | 346 m² | 1 · 120 m² | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
1 siteEupen2.148.152.595
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Of 4,228 companies in sector 10712 we hold annual accounts for 1,870. 789 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded04-04-2005
Fiscal year end31-12
Activities, NACEBEL
10712Artisanal bread and fresh pastry making
15812
10720Manufacture of food products
15820
46389Wholesale of other food products
46392Non-specialised wholesale
47241Retail sale of bread and pastry (bakery outlets)
51384
51392
52240
55302
56102Limited-service restaurants
56112Limited-service restaurants, excluding mobile food services
68201Renting and operating of own or leased residential real estate, excluding social housing
68203Renting and operating of own or leased non-residential real estate, excluding land
68204Real estate activities
Sources
Crossroads Bank for EnterprisesNational Bank · 19 filingsAddress and cadastre registers
Data from official sources, last processed on 16-09-2026. Scores and ratios are computed by Checked and are not a credit decision.