MARS
ActiveSummary
The computed 12-month bankruptcy probability of MARS is 1.9% (moderate). The 2025 annual accounts show equity of €11,903 and a net result of €2,708, of which €69,794 non-recurring income. Equity has been shrinking by about 8.4% per year since 2018. Its solvency ranks better than 10% of 34,946 sector peers (NACE 43, financial year 2025). The company has been active since 2006 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 20-01-2006 Normal situation
- Activity
- Other specialised construction activities NACE 43990
- Establishment unit
- 2.153.842.636 1420 Braine-l'Alleud, since 02-06-2006
- Financial year end
- 31 December
- Peppol
- Reachable since 30-06-2026
Financial position
- Bankruptcy probabilitywithin 12 months
- 1.9%
- Gross margin
- €58,949
- ▲ 103%
- Turnover
- ≈ €300,000
- estimated
- Profit
- €2,708
- Equity
- €11,903
- ▲ 29.5%
- Total assets
- €498,332
- ▼ 21.4%
- 2025 accounts filed 7 days after the deadline
Score breakdownraises riskLiquidity: current ratio 0.18, cash €400Last filed accounts filed 7 days late; 2 of the last 3 accounts lateSector: Specialised construction activities (NACE 43)lowers riskSize: total assets €498,332Show the evidence
Checked score
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 43, micro). It does better than 9% of them on solvency, 10% on liquidity, 22% on profitability and 74% on growth.
The bankruptcy probability was computed on 01-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 25 days after the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, micro format
2025 annual accounts filed 7 days after the deadline Filed on 7 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00386506.
Annual accounts 2025 filed on 07-08-2026 at the NBB all 19 filings
2020 to 2025, 5 financial years 2018 to 2025, 7 financial years
The operating result for 2025 is a profit of €16,323, after a loss of €20,754 in 2024.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio and return on assets (ROA).
Investments
| Item | 2021 | 2022 | 2024 | 2025 |
|---|---|---|---|---|
| Tangible fixed assets | €41,287 | €28,500 | €246,694 | €31,173 |
| Financial fixed assets | - | - | - | €0 |
| Depreciation and write-downs of the year | €16,316 | €26,983 | €35,454 | €26,764 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Turnover70 | €157,008 | €63,543 | - | - | - | - | - | - |
| Non-recurring operating income76A | - | - | - | - | - | - | €69,794 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €22,932 | €18,207 | €15,517 | €16,316 | €26,983 | €35,454 | €26,764 | ▼ 24.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | €0 | - | - |
| Other operating charges640/8 | - | - | - | €2,882 | €2,290 | €3,160 | €9,335 | ▲ 195% |
| Non-recurring operating charges66A | - | - | - | - | €1,276 | €11,113 | €6,526 | ▼ 41.3% |
| Gross operating margin9900 | €47,469 | €19,908 | €14,902 | €42,183 | €43,651 | €28,973 | €58,949 | ▲ 103% |
| Operating profit (loss)9901 | €14,002 | -€2,214 | -€1,494 | €22,985 | €13,102 | -€20,754 | €16,323 | - |
| Financial income75/76B | - | - | - | €1 | €14 | €99 | €15 | ▼ 84.5% |
| Recurring financial income75 | €98 | €0 | €6 | €1 | €14 | €99 | €15 | ▼ 84.5% |
| Financial charges65/66B | - | - | - | €16,498 | €6,839 | €9,089 | €13,393 | ▲ 47.4% |
| Recurring financial charges65 | €8,794 | €16 | €1,310 | €16,498 | €6,839 | €9,089 | €13,393 | ▲ 47.4% |
| Profit (loss) for the period before taxes9903 | €5,307 | -€2,230 | -€2,798 | €6,488 | €6,277 | -€29,745 | €2,945 | - |
| Income taxes67/77 | €2,166 | €117 | €154 | €1,028 | €3,878 | -€1,120 | €237 | - |
| Profit (loss) for the period9904 | €3,141 | -€2,347 | -€2,952 | €5,460 | €2,399 | -€28,625 | €2,708 | - |
| Profit (loss) for the period to be appropriated9905 | €3,141 | -€2,347 | -€2,952 | €5,460 | €2,399 | -€28,625 | €2,708 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €502,824 | €480,522 | €487,376 | €711,625 | €732,811 | €633,861 | €498,332 | ▼ 21.4% |
| Fixed assets21/28 | €397,860 | €379,653 | €370,636 | €395,607 | €390,089 | €583,690 | €440,673 | ▼ 24.5% |
| Tangible fixed assets22/27 | €397,860 | €379,653 | €370,636 | €395,607 | €390,089 | €583,690 | €440,673 | ▼ 24.5% |
| Land and buildings22 | - | - | - | €353,465 | €341,668 | €568,531 | €416,994 | ▼ 26.7% |
| Plant, machinery and equipment23 | - | - | - | €12,031 | €13,168 | - | - | - |
| Furniture and vehicles24 | - | - | - | €30,111 | €35,254 | €15,159 | €23,679 | ▲ 56.2% |
| Current assets29/58 | €104,964 | €100,869 | €116,740 | €316,018 | €342,722 | €50,171 | €57,660 | ▲ 14.9% |
| Stocks and contracts in progress3 | - | - | - | €250,000 | €21,240 | - | - | - |
| Stocks30/36 | - | - | - | €250,000 | €21,240 | - | - | - |
| Amounts receivable within one year40/41 | €92,917 | €97,608 | €59,662 | €65,561 | €56,010 | €49,636 | €55,230 | ▲ 11.3% |
| Trade receivables40 | - | - | - | €55,582 | €56,010 | €42,670 | €43,296 | ▲ 1.5% |
| Other amounts receivable41 | - | - | - | €9,978 | €0 | €6,966 | €11,934 | ▲ 71.3% |
| Cash at bank and in hand54/58 | €11,038 | €1,786 | €56,659 | €457 | €265,472 | €39 | €400 | ▲ 925% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | €496 | €2,030 | ▲ 309% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €502,824 | €480,522 | €487,376 | €711,625 | €732,811 | €633,861 | €498,332 | ▼ 21.4% |
| Equity10/15 | €37,651 | €35,304 | €32,352 | €37,811 | €40,210 | €9,194 | €11,903 | ▲ 29.5% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €17,191 | €14,844 | €11,892 | €17,351 | €19,750 | -€11,266 | -€8,557 | ▲ 24.0% |
| Amounts payable17/49 | €465,173 | €445,219 | €455,024 | €673,813 | €692,601 | €624,667 | €486,430 | ▼ 22.1% |
| Amounts payable after more than one year17 | €262,217 | €244,748 | €226,658 | €207,924 | €188,522 | €221,060 | €174,443 | ▼ 21.1% |
| Financial debts170/4 | - | - | - | €207,924 | €188,522 | €221,060 | €174,443 | ▼ 21.1% |
| Amounts payable within one year42/48 | €202,289 | €199,804 | €228,366 | €465,890 | €504,078 | €403,606 | €311,987 | ▼ 22.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €18,734 | €19,401 | €39,908 | €30,041 | ▼ 24.7% |
| Trade debts44 | €51,888 | €56,865 | €3,052 | €257,361 | €29,802 | €1,100 | €17,148 | ▲ 16× |
| Suppliers440/4 | - | - | - | €257,361 | €29,802 | €1,100 | €17,148 | ▲ 16× |
| Taxes, remuneration and social security45 | - | - | - | €1,094 | €21,553 | €460 | €176 | ▼ 61.7% |
| Taxes450/3 | - | - | - | €1,094 | €21,553 | €460 | €176 | ▼ 61.7% |
| Other amounts payable47/48 | - | - | - | €188,701 | €433,321 | €362,139 | €264,622 | ▼ 26.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,141 | -€2,347 | -€2,952 | €5,460 | €2,399 | -€28,625 | €2,708 | - |
| + Depreciation and write-downs630 | €22,932 | €18,207 | €15,517 | €16,316 | €26,983 | €35,454 | €26,764 | ▼ 24.5% |
| Operating cash flow (approximation) | €26,073 | €15,860 | €12,565 | €21,775 | €29,382 | €6,829 | €29,473 | ▲ 332% |
| Investment in fixed assets (approximation) | - | €0 | -€6,500 | -€41,287 | -€21,465 | - | €116,253 | - |
| Change in cash | - | -€9,252 | €54,873 | -€56,202 | €265,015 | - | €361 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 1,217 companies had the same profile as MARS has now. Two years later, 1.5% had gone bankrupt and 96.0% were still going.
- Small
- 20 years or older
- solvency under 10%
- a profit under 5% of the balance sheet
The bankruptcy probability of MARS itself is higher: 1.9% within 12 months. It rests on far more data about MARS than the profile alone.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,217 companies, not a prediction for MARS. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 19 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 07-08-2026 | 2026-00386506 | |
| 31-12-2024 | micro format | 26-09-2025 | 2025-00505041 | |
| 31-12-2022 | micro format | 01-09-2023 | 2023-00406573 | |
| 31-12-2021 | micro format | 29-07-2022 | 2022-20244570 | |
| 31-12-2020 | micro format | 31-08-2021 | 2021-62700291 | |
| 31-12-2019 | micro format | 03-09-2020 | 2020-50800511 | |
| 31-12-2018 | micro format | 19-08-2019 | 2019-48100494 | |
| 31-12-2017 | micro format | 08-07-2018 | 2018-30800531 | |
| 31-12-2016 | micro format | 18-07-2017 | 2017-32800464 | |
| 31-12-2015 | full format | 11-08-2016 | 2016-42100340 |
Board & ownership
Directors
Owners and capital
Owners
Network & group
MARS shares no director with another company.
Connections & network
1 current directorThe network starts from the directors of MARS. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
Codes under NACEBEL 2003
Invoicing and payment
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0878.788.722
Financial year and general meeting
Accounts at the NBBSites & property
This address was not found in the Belgian address register (BOSA BEST).
Rue Planche Pêcheur 381420 Braine-l'Alleud