MARSAC ADVISORS
ActiveMARSAC ADVISORS has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-24k) and a net result of €-4k. Equity is shrinking by ~35.1% per year across the filed fiscal years. Its solvency ranks better than 5% of 16989 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
34
/ 100
Weak
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability12▲+12
Solvency0▼-1
Growth32=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.72 against 0.82 in 2024; short-term debt: 134.4% and cash: 9.3% of total assets), and equity is negative.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 62
Relative position
BE, all sectors
reference
Sector 62
lower
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-34.4%
Return on assets
-5.8%
Age of the figures
15 mo
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
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year €-24k
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 30-01-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
on the day
2023
1 d early
2022
14 d late
2021
3 d early
2020
1 d late
2019
on the day
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close19-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€-24k▼ 20.2%
2024 · €-20k
2019: €18k
2020: €6k
2021: €22k
2022: €71k
2023: €733
2024: €-20k
2019 → 2025
Total assets
€70k▼ 17.2%
2024 · €85k
2019: €143k
2020: €153k
2021: €159k
2022: €246k
2023: €110k
2024: €85k
2019 → 2025
Net result
€-4k▲ 80.5%
2024 · €-21k
2019: €9k
2020: €-12k
2021: €16k
2022: €49k
2023: €-70k
2024: €-21k
2019 → 2025
Working capital
€-26k▼ 45.1%
2024 · €-18k
2019: €17k
2020: €5k
2021: €21k
2022: €71k
2023: €-2k
2024: €-18k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€22k-€71k▲ 230%€733▼ 99.0%€-20k€-24k▼ 20.2%
Operating result€17k-€65k▲ 283%€-69k€-18k▲ 73.6%€-2k▲ 91.6%
Net result€16k-€49k▲ 213%€-70k€-21k▲ 70.3%€-4k▲ 80.5%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €2k in 2025 against €18k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €70k
Fixed assets
€2k▼ 7.3%
Current assets
€68k▼ 17.5%
Key figures and ratios
EBITDA
€-1k▲
2024 · €-18k
Cash flow
€-4k▲
2024 · €-21k
Solvency
-34.4%▼
2024 · -23.7%
Current ratio
0.72▼
2024 · 0.82
Quick ratio
0.72▼
2024 · 0.82
Debt / equity
-3.91▲
2024 · -5.22
ROA
-5.8%▲
2024 · -24.5%
Interest coverage
-0.54▲
2024 · -6.73
Debt
€95k▼
2024 · €105k
Debt ≤ 1 year
€95k▼
2024 · €101k
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 · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€85k€70k▼
Fixed assets21/28€2k€2k▼
Tangible fixed assets22/27€2k€1k▼
Furniture and vehicles24€2k€1k▼
Financial fixed assets28€880€880=
Current assets29/58€83k€68k▼
Amounts receivable within one year40/41€78k€62k▼
Trade receivables40€72k€58k▼
Other amounts receivable41€6k€4k▼
Cash at bank and in hand54/58-€7k
Deferred charges and accrued income490/1€4k-
Equity and liabilities
Total equity and liabilities10/49€85k€70k▼
Equity10/15€-20k€-24k▼
Contributions10/11€40k€40k=
Reserves13€2k€2k=
Non-distributable reserves130/1€2k-
Reserves not available under the articles1311€2k-
Distributable reserves133-€2k
Profit (loss) carried forward14€-62k€-66k▼
Amounts payable17/49€105k€95k▼
Amounts payable within one year42/48€101k€95k▼
Financial debts43€14k€12k▼
Credit institutions430/8€14k€12k▼
Trade debts44€36k€32k▼
Suppliers440/4€36k€32k▼
Taxes, remuneration and social security45-€476
Taxes450/3-€476
Other amounts payable47/48€50k€50k=
Accrued charges and deferred income492/3€4k-
Income statement
Code20242025
Non-recurring operating income76A-€10k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€173€173=
Gross operating margin9900€-18k€-1k▲
Operating profit (loss)9901€-18k€-2k▲
Financial income75/76B€1€0▼
Recurring financial income75€1€0▼
Financial charges65/66B€3k€3k▼
Recurring financial charges65€3k€3k▼
Profit (loss) for the period before taxes9903€-21k€-4k▲
Profit (loss) for the period9904€-21k€-4k▲
Profit (loss) for the period to be appropriated9905€-21k€-4k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-62k€-66k▼
Profit (loss) brought forward from the previous period14P€-41k€-62k▼
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
30-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-06
Financial
Weakest financial yearnet €-70k ▼242%
Net result drops to €-70k, the lowest in the series; recovery starts the following year.
14-02
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 14 days late
2022
30-06
Financial
Highest result since 2019net €49k ▲213%
Operating result €65k, net result €49k, both a record.
28-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-06
Financial
Back to profitnet €16k
Net result €16k after one loss-making year.
01-02
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 1 day late
2020
31-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
30-01
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
29-01
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
29-01
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 363 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, Elsene · 1 establishment unit since 1999
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.
Louizalaan 3631050 ElseneGround area
722 m²
Building footprint
685 m²
Volume, LiDAR
15,334 m³
Parcel 21807G0202/00L005, Brussels · tallest building 39.7 m, ±10 floors. Linked by address, not a title deed.
1 establishment unit
Louizalaan 363, 1050 Brussel
since 19992.092.286.733
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21807G0202/00L005 | Brussels | 722 m² | 1 · 685 m² | 39.7 m · 10 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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 16,878 companies in sector 62100 we hold annual accounts for 8,776. 794 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded19-05-1999
Fiscal year end30-06
Activities, NACEBEL
62010Computer programming, consultancy and related activities
62100Computer programming
62200Computer consultancy and computer facilities management
70200Business and other management consultancy
72220
68203Renting and operating of own or leased non-residential real estate, excluding land
Sources
Crossroads Bank for EnterprisesNational Bank · 26 filingsAddress and cadastre registers
Data from official sources, last processed on 19-09-2026. Scores and ratios are computed by Checked and are not a credit decision.