MARSMANN
ActiveSummary
MARSMANN has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €157k and a net result of €3k. Equity is growing by ~19.8% per year across the filed fiscal years. Its solvency ranks better than 87% of 2003 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability71▼-11
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €14k at 30 days acceptable
Liquidity ample (current ratio 10.31 against 9.24 in 2024; short-term debt: 7.3% and cash: 60.6% of total assets), and 12.4% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 90
Relative position
BE, all sectors
reference
Arts creation and performing arts activities (NACE 90)
about 58% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
87.6%
Return on assets
1.5%
Age of the figures
15 mo
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 · 7 filingsDeviation from the deadline
2025
1 d early
2024
1 d early
2023
1 d early
2022
on the day
2021
on the day
2020
3 d early
2019
on the day
← before the deadline
after the deadline →
Checked, nothing found (2)
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 close25-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€157k▲ 1.7%
2024 · €154k
2019: €43klowest in 7 years
2020: €60k▲ +38.2% vs 2019
2021: €82k▲ +37.8% vs 2020
2022: €112k▲ +36.0% vs 2021
2023: €135k▲ +21.1% vs 2022
2024: €154k▲ +13.7% vs 2023
2025: €157k▲ +1.7% vs 2024highest in 7 years
2019 → 2025
Total assets
€179k▲ 3.1%
2024 · €173k
2019: €117klowest in 7 years
2020: €132k▲ +12.9% vs 2019
2021: €147k▲ +11.3% vs 2020
2022: €152k▲ +3.4% vs 2021
2023: €171k▲ +12.5% vs 2022
2024: €173k▲ +1.6% vs 2023
2025: €179k▲ +3.1% vs 2024highest in 7 years
2019 → 2025
Net result
€3k▼ 85.5%
2024 · €19k
2019: €37khighest in 7 years
2020: €17k▼ -55.4% vs 2019
2021: €23k▲ +36.8% vs 2020
2022: €30k▲ +34.5% vs 2021
2023: €29k▼ -5.8% vs 2022
2024: €19k▼ -35.2% vs 2023
2025: €3k▼ -85.5% vs 2024lowest in 7 years
2019 → 2025
Working capital
€121k▲ 5.6%
2024 · €114k
2019: €-12klowest in 7 years
2020: €18k▲ +254% vs 2019
2021: €55k▲ +204% vs 2020
2022: €87k▲ +59.2% vs 2021
2023: €110k▲ +26.8% vs 2022
2024: €114k▲ +3.9% vs 2023
2025: €121k▲ +5.6% vs 2024highest in 7 years
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€82k-€112k▲ 36.0%€135k▲ 21.1%€154k▲ 13.7%€157k▲ 1.7%
2021: €82klowest in 5 years
2022: €112k▲ +36.0% vs 2021
2023: €135k▲ +21.1% vs 2022
2024: €154k▲ +13.7% vs 2023
2025: €157k▲ +1.7% vs 2024highest in 5 years
Operating result€30k-€40k▲ 34.2%€36k▼ 10.7%€25k▼ 31.5%€4k▼ 82.5%
2021: €30k
2022: €40k▲ +34.2% vs 2021highest in 5 years
2023: €36k▼ -10.7% vs 2022
2024: €25k▼ -31.5% vs 2023
2025: €4k▼ -82.5% vs 2024lowest in 5 years
Net result€23k-€30k▲ 34.5%€29k▼ 5.8%€19k▼ 35.2%€3k▼ 85.5%
2021: €23k
2022: €30k▲ +34.5% vs 2021highest in 5 years
2023: €29k▼ -5.8% vs 2022
2024: €19k▼ -35.2% vs 2023
2025: €3k▼ -85.5% vs 2024lowest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2025 is 83% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €179k
Fixed assets
€45k ▼ 0.1%
Current assets
€134k ▲ 4.3%
Equity and liabilities €179k
Equity
€157k ▲ 1.7%
Debt
€22k ▲ 14.0%
Debt's share of the balance-sheet total rises from 11.2% to 12.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€20k▼
2024 · €40k
Cash flow
€18k▼
2024 · €34k
Current ratio
10.31▲
2024 · 9.24
Debt to equity
0.14▲
2024 · 0.13
ROE
1.7%▼
2024 · 12.0%
ROA
1.5%▼
2024 · 10.7%
Interest coverage
25.49▼
2024 · 44.23
Debt ≤ 1 year
€13k▼
2024 · €14k
Debt > 1 year
€9k▲
2024 · €5k
Income taxes
€2k▼
2024 · €5k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 43 lines
Balance sheet
Code20242025
Assets
Total assets20/58€173k€179k▲
Fixed assets21/28€45k€45k▼
Intangible fixed assets21€10k€7k▼
Tangible fixed assets22/27€35k€38k▲
Land and buildings22€14k€13k▼
Plant, machinery and equipment23€21k€25k▲
Financial fixed assets28€150€150=
Current assets29/58€128k€134k▲
Amounts receivable within one year40/41€11k€25k▲
Trade receivables40€11k€22k▲
Other amounts receivable41-€3k
Cash at bank and in hand54/58€117k€108k▼
Equity and liabilities
Total equity and liabilities10/49€173k€179k▲
Equity10/15€154k€157k▲
Contributions10/11€6k€6k=
Reserves13€2k€2k=
Distributable reserves133€2k€2k=
Profit (loss) carried forward14€146k€149k▲
Amounts payable17/49€19k€22k▲
Amounts payable after more than one year17€5k€9k▲
Financial debts170/4€5k€9k▲
Amounts payable within one year42/48€14k€13k▼
Current portion of amounts payable after more than one year42€3k€5k▲
Trade debts44€1k€2k▲
Suppliers440/4€1k€2k▲
Taxes, remuneration and social security45€5k€3k▼
Taxes450/3€3k€650▼
Remuneration and social security454/9€2k€2k=
Other amounts payable47/48€5k€4k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€16k€15k▼
Other operating charges640/8€1k€872▼
Gross operating margin9900€42k€21k▼
Operating profit (loss)9901€25k€4k▼
Financial income75/76B€21€782▲
Recurring financial income75€21€782▲
Financial charges65/66B€914€773▼
Recurring financial charges65€914€773▼
Profit (loss) for the period before taxes9903€24k€4k▼
Income taxes67/77€5k€2k▼
Profit (loss) for the period9904€19k€3k▼
Profit (loss) for the period to be appropriated9905€19k€3k▼
Appropriation of the result
Profit (loss) to be appropriated9906€146k€149k▲
Profit (loss) brought forward from the previous period14P€127k€146k▲
The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €27k | €19k | €11k | €16k | €15k | ▼ 2.7% |
| Other operating charges640/8 | - | €959 | €1k | €1k | €872 | ▼ 25.0% |
| Gross operating margin9900 | €58k | €60k | €48k | €42k | €21k | ▼ 50.5% |
| Operating profit (loss)9901 | €30k | €40k | €36k | €25k | €4k | ▼ 82.5% |
| Financial income75/76B | - | - | €114 | €21 | €782 | ▲ 3,696% |
| Recurring financial income75 | €7 | - | €114 | €21 | €782 | ▲ 3,696% |
| Financial charges65/66B | - | €743 | €497 | €914 | €773 | ▼ 15.4% |
| Recurring financial charges65 | €840 | €743 | €497 | €914 | €773 | ▼ 15.4% |
| Profit (loss) for the period before taxes9903 | €29k | €39k | €36k | €24k | €4k | ▼ 81.8% |
| Income taxes67/77 | €7k | €9k | €7k | €5k | €2k | ▼ 68.5% |
| Profit (loss) for the period9904 | €23k | €30k | €29k | €19k | €3k | ▼ 85.5% |
| Profit (loss) for the period to be appropriated9905 | €23k | €30k | €29k | €19k | €3k | ▼ 85.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €147k | €152k | €171k | €173k | €179k | ▲ 3.1% |
| Fixed assets21/28 | €43k | €31k | €26k | €45k | €45k | ▼ 0.1% |
| Intangible fixed assets21 | €19k | €16k | €13k | €10k | €7k | ▼ 30.0% |
| Tangible fixed assets22/27 | €24k | €15k | €13k | €35k | €38k | ▲ 8.4% |
| Land and buildings22 | - | - | - | €14k | €13k | ▼ 10.3% |
| Plant, machinery and equipment23 | - | €15k | €13k | €21k | €25k | ▲ 21.1% |
| Furniture and vehicles24 | - | €2 | - | - | - | - |
| Financial fixed assets28 | - | €150 | €150 | €150 | €150 | = |
| Current assets29/58 | €103k | €120k | €145k | €128k | €134k | ▲ 4.3% |
| Amounts receivable within one year40/41 | €27k | €57k | €21k | €11k | €25k | ▲ 124% |
| Trade receivables40 | - | €55k | €19k | €11k | €22k | ▲ 94.1% |
| Other amounts receivable41 | - | €2k | €1k | - | €3k | - |
| Cash at bank and in hand54/58 | €76k | €63k | €124k | €117k | €108k | ▼ 7.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €147k | €152k | €171k | €173k | €179k | ▲ 3.1% |
| Equity10/15 | €82k | €112k | €135k | €154k | €157k | ▲ 1.7% |
| Contributions10/11 | - | €6k | €6k | €6k | €6k | = |
| Reserves13 | €2k | €2k | €2k | €2k | €2k | = |
| Distributable reserves133 | - | €2k | €2k | €2k | €2k | = |
| Profit (loss) carried forward14 | €74k | €104k | €127k | €146k | €149k | ▲ 1.8% |
| Amounts payable17/49 | €64k | €40k | €35k | €19k | €22k | ▲ 14.0% |
| Amounts payable after more than one year17 | €16k | €6k | €423 | €5k | €9k | ▲ 66.0% |
| Financial debts170/4 | - | €6k | €423 | €5k | €9k | ▲ 66.0% |
| Amounts payable within one year42/48 | €49k | €33k | €35k | €14k | €13k | ▼ 6.6% |
| Current portion of amounts payable after more than one year42 | - | €9k | €6k | €3k | €5k | ▲ 66.1% |
| Trade debts44 | €899 | €1k | €1k | €1k | €2k | ▲ 5.1% |
| Suppliers440/4 | - | €1k | €1k | €1k | €2k | ▲ 5.1% |
| Taxes, remuneration and social security45 | - | €2k | €2k | €5k | €3k | ▼ 46.2% |
| Taxes450/3 | - | €2k | €12 | €3k | €650 | ▼ 77.1% |
| Remuneration and social security454/9 | - | - | €2k | €2k | €2k | = |
| Other amounts payable47/48 | - | €21k | €25k | €5k | €4k | ▼ 13.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €23k | €30k | €29k | €19k | €3k | ▼ 85.5% |
| + Depreciation and write-downs630 | €27k | €19k | €11k | €16k | €15k | ▼ 2.7% |
| Operating cash flow (approximation) | €49k | €49k | €39k | €34k | €18k | ▼ 47.3% |
| Investment in fixed assets (approximation) | - | €-7k | €-5k | €-35k | €-15k | ▲ 56.4% |
| Change in cash | - | €-13k | €61k | €-7k | €-9k | ▼ 18.7% |
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
30-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-06
Financial
Weakest financial yearnet €3k ▼85.5%
Net result drops to €3k, the lowest in the series.
30-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-06
Financial
Liquidity doublescurrent ratio 9.24
Current ratio from 4.17 to 9.24; short-term debt falls from €35k to €14k.
30-06
Financial
Equity above €150kEq €154k ▲13.7%
6 profitable years in a row build equity to €154k.
30-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-06
Financial
Equity above €100kEq €112k ▲36%
4 profitable years in a row build equity to €112k.
31-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
28-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Gent · 1 establishment unit since 2017
Ground area
293 m²
Building footprint
113 m²
Volume, LiDAR
863 m³
Parcel 44432C0400/00F002, Flanders · tallest building 14.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MARSMANN
since 20172.270.940.838
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44432C0400/00F002 | Flanders | 293 m² | 1 · 113 m² | 14.4 m · 2 fl. |
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.
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Of 1,258 companies in sector 90399 we hold annual accounts for 200. 157 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded22-11-2017
Fiscal year end30-06
Activities, NACEBEL 2025
90399Other support activities for arts and performing arts
74209Other photographic activities
Scores and ratios are computed by Checked and are not a credit decision.