MARSINNE SERVICES
ActiveMARSINNE SERVICES has been active since 1986 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €104k and a net result of €26k. Equity remains stable across the filed fiscal years (±2.3% per year). Its solvency ranks better than 75% of 3112 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
94
/ 100
Excellent
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability89▲+30
Solvency88▼-7
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €9k at 30 days acceptable
Liquidity ample (current ratio 3.27 against 3.25 in 2024; short-term debt: 21.8% and cash: 47.1% of total assets), and 36.8% of the assets are financed with debt.
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 01
Relative position
BE, all sectors
reference
Sector 01
lower
← 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 2025Solvency, return and age of the figures
Solvency
63.2%
Return on assets
16%
Age of the figures
9 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
18192021232425
2018 to 2025 · latest year €104k
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 28-07-2026, 3 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
3 d early
2024
244 d late
2023
31 d late
2021
30 d late
2020
18 d late
2019
66 d late
2018
30 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
21-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€104k▲ 33.8%
2024 · €78k
2018: €77k
2019: €88k
2020: €71k
2021: €88k
2023: €86k
2024: €78k
2018 → 2025
Total assets
€164k▲ 48.7%
2024 · €111k
2018: €86k
2019: €92k
2020: €94k
2021: €103k
2023: €136k
2024: €111k
2018 → 2025
Net result
€26k
2024 · €-9k
2018: €-32k
2019: €12k
2020: €-18k
2021: €18k
2023: €-3k
2024: €-9k
2018 → 2025
Working capital
€81k▲ 118%
2024 · €37k
2018: €68k
2019: €77k
2020: €37k
2021: €45k
2023: €44k
2024: €37k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202320242025Trend
Equity€71k-€88k▲ 25.1%€86k▼ 2.2%€78k▼ 10.0%€104k▲ 33.8%
Operating result€-18k-€18k€-3k€-9k▼ 233%€33k
Net result€-18k-€18k€-3k€-9k▼ 152%€26k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €33k after a loss of €9k in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €164k
Fixed assets
€48k▼ 16.4%
Current assets
€117k▲ 118%
Equity and liabilities €164k
Equity
€104k▲ 33.8%
Debt
€60k▲ 83.8%
The debt ratio rises from 29.7% to 36.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€45k▲
2024 · €5k
Cash flow
€38k▲
2024 · €5k
Solvency
63.2%▼
2024 · 70.3%
Current ratio
3.27▲
2024 · 3.25
Quick ratio
3.19▲
2024 · 3.09
Debt / equity
0.58▲
2024 · 0.42
ROE
25.3%▲
2024 · -11.2%
ROA
16.0%▲
2024 · -7.8%
Interest coverage
68.87▲
2024 · 7.54
Debt
€60k▲
2024 · €33k
Debt ≤ 1 year
€36k▲
2024 · €17k
Debt > 1 year
€8k▼
2024 · €16k
Income taxes
€6k▲
2024 · €112
Staff costs
€0▼
2024 · €408
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€111k€164k▲
Fixed assets21/28€57k€48k▼
Tangible fixed assets22/27€57k€48k▼
Land and buildings22€27k€23k▼
Plant, machinery and equipment23€28k€24k▼
Furniture and vehicles24€2k€0▼
Current assets29/58€54k€117k▲
Stocks and contracts in progress3€3k€3k=
Stocks30/36€3k€3k=
Amounts receivable within one year40/41€8k€35k▲
Trade receivables40€6k€32k▲
Other amounts receivable41€2k€3k▲
Cash at bank and in hand54/58€42k€77k▲
Deferred charges and accrued income490/1€94€2k▲
Equity and liabilities
Total equity and liabilities10/49€111k€164k▲
Equity10/15€78k€104k▲
Contributions10/11€95k€95k=
Reserves13€10k€10k=
Non-distributable reserves130/1€10k€10k=
Reserves not available under the articles1311€10k€10k=
Profit (loss) carried forward14€-28k€-2k▲
Amounts payable17/49€33k€60k▲
Amounts payable after more than one year17€16k€8k▼
Financial debts170/4€16k€8k▼
Amounts payable within one year42/48€17k€36k▲
Current portion of amounts payable after more than one year42€10k€8k▼
Trade debts44€669€646▼
Suppliers440/4€669€646▼
Taxes, remuneration and social security45€630€6k▲
Taxes450/3€630€6k▲
Remuneration and social security454/9€0-
Other amounts payable47/48€5k€21k▲
Accrued charges and deferred income492/3-€16k
Income statement
Code20242025
Remuneration, social security and pensions62€408€0▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€14k€12k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€1k
Other operating charges640/8€6k€1k▼
Non-recurring operating charges66A-€5k
Gross operating margin9900€12k€52k▲
Operating profit (loss)9901€-9k€33k▲
Financial income75/76B€989€86▼
Recurring financial income75€989€86▼
Financial charges65/66B€651€647▼
Recurring financial charges65€651€647▼
Profit (loss) for the period before taxes9903€-9k€32k▲
Income taxes67/77€112€6k▲
Profit (loss) for the period9904€-9k€26k▲
Profit (loss) for the period to be appropriated9905€-9k€26k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-28k€-2k▲
Profit (loss) brought forward from the previous period14P€-19k€-28k▼
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
Next filing, fiscal year 2026, expected by
2026
28-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
01-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 244 days late
2025
31-12
Financial
Back to profitnet €26k
Net result €26k after 2 loss-making years.
31-12
Financial
Equity above €100kEq €104k ▲33.8%
Equity rises from €78k to €104k.
2024
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 31 days late
2022
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
31-12
Financial
Back to profitnet €18k
Net result €18k after one loss-making year.
31-12
Financial
Liquidity doublescurrent ratio 11.63
Current ratio from 5.12 to 11.63; short-term debt falls from €9k to €4k.
18-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 18 days late
2020
05-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 66 days late
2019
31-12
Financial
Back to profitnet €12k
Net result €12k after one loss-making year.
31-12
Financial
Liquidity doublescurrent ratio 23.19
Current ratio from 9.52 to 23.19; short-term debt falls from €8k to €3k.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
06-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
29-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
17-06
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
7 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, Héron · 1 establishment unit since 1986
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 de la Médaille 174218 HéronGround area
85 m²
Parcel 61015C0189/00K000, Wallonia. Linked by address, not a title deed.
1 establishment unit
Rue de la Médaille 17, 4218 Héron
since 19862.063.524.649
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 61015C0189/00K000 | Wallonia | 85 m² | - | - |
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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BE 0878.031.132
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FERME DE LA MOTTE
BE 0437.696.464
Grâce-Hollogne · Eq €104k
C.D.B.
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Sint-Katelijne-Waver · Eq €104k
PHILUC-AGRI
BE 0889.047.461
Leuze-en-Hainaut · Eq €104k
LEEMAT
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Gent · Eq €103k
Of 20,591 companies in sector 01500 we hold annual accounts for 1,149. 858 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded20-03-1986
Fiscal year end31-12
Activities, NACEBEL
01500Mixed farming
01110Growing of cereals (except rice), leguminous crops and oil seeds
01309Crop and animal production, hunting and related service activities
02200Logging
46220Wholesale trade
46832Wholesale of timber
77229Renting and leasing of other personal and household goods
77299Rental and leasing activities
82300Organisation of conventions and trade shows
90032Arts creation and performing arts activities
90311Arts creation and performing arts activities
90120Visual arts creation
Sources
Crossroads Bank for EnterprisesNational Bank · 39 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.