MARSO
ActiveSummary
MARSO has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€14,311) and a net result of €30,695. Equity is growing by ~23.6% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 1.0% (low).
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Signals
This company filed its last 7 accounts on average 9 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (2)
History
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Financials · fiscal year 2025, micro schema
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Peer companies
Historical observationOf the 3,798 companies that looked in July 2024 the way this one looks now, 2.5% went bankrupt within 24 months and 91% are still going.
- Micro
- 20 years or older
- negative equity
- a profit of 5% of the balance sheet or more
A further 0.8% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.0% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 3,798 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,005 | €1,508 | €1,508 | €1,291 | €1,291 | = |
| Other operating charges640/8 | €348 | €3,516 | €6,378 | €4,001 | €4,127 | ▲ 3.1% |
| Gross operating margin9900 | €67,200 | €84,284 | €84,493 | €62,564 | €58,477 | ▼ 6.5% |
| Operating profit (loss)9901 | €63,848 | €79,260 | €76,607 | €57,272 | €53,060 | ▼ 7.4% |
| Financial charges65/66B | €22,578 | €20,215 | €18,040 | €14,548 | €11,191 | ▼ 23.1% |
| Recurring financial charges65 | €22,578 | €20,215 | €18,040 | €14,548 | €11,191 | ▼ 23.1% |
| Profit (loss) for the period before taxes9903 | €41,270 | €59,045 | €58,567 | €42,724 | €41,869 | ▼ 2.0% |
| Income taxes67/77 | €4,799 | €34,783 | €15,820 | €11,711 | €11,174 | ▼ 4.6% |
| Profit (loss) for the period9904 | €36,471 | €24,262 | €42,747 | €31,012 | €30,695 | ▼ 1.0% |
| Profit (loss) for the period to be appropriated9905 | €36,471 | €24,262 | €42,747 | €31,012 | €30,695 | ▼ 1.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €258,681 | €259,219 | €258,389 | €231,787 | €196,707 | ▼ 15.1% |
| Fixed assets21/28 | €181,051 | €179,543 | €178,035 | €176,744 | €175,454 | ▼ 0.7% |
| Tangible fixed assets22/27 | €181,051 | €179,543 | €178,035 | €176,744 | €175,454 | ▼ 0.7% |
| Land and buildings22 | €172,572 | €172,065 | €171,557 | €171,266 | €170,975 | ▼ 0.2% |
| Plant, machinery and equipment23 | €8,478 | €7,478 | €6,478 | €5,478 | €4,478 | ▼ 18.3% |
| Current assets29/58 | €77,631 | €79,676 | €80,354 | €55,043 | €21,254 | ▼ 61.4% |
| Amounts receivable within one year40/41 | €69,062 | €69,062 | €69,062 | €40,622 | - | - |
| Trade receivables40 | - | - | - | €1,560 | - | - |
| Other amounts receivable41 | €69,062 | €69,062 | €69,062 | €39,062 | - | - |
| Cash at bank and in hand54/58 | €7,193 | €9,052 | €9,640 | €14,421 | €17,011 | ▲ 18.0% |
| Deferred charges and accrued income490/1 | €1,376 | €1,562 | €1,652 | - | €4,243 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €258,681 | €259,219 | €258,389 | €231,787 | €196,707 | ▼ 15.1% |
| Equity10/15 | -€143,027 | -€118,765 | -€76,018 | -€45,006 | -€14,311 | ▲ 68.2% |
| Contributions10/11 | €18,550 | €18,550 | €18,550 | €20,447 | €20,447 | = |
| Capital10 | €18,550 | - | - | - | - | - |
| Issued capital100 | €18,550 | - | - | - | - | - |
| Reserves13 | €1,897 | €1,897 | €1,897 | - | - | - |
| Non-distributable reserves130/1 | €1,897 | €1,897 | €1,897 | - | - | - |
| Legal reserve130 | €1,855 | - | - | - | - | - |
| Reserves not available under the articles1311 | €42 | €1,855 | €1,855 | - | - | - |
| Other1319 | - | €42 | €42 | - | - | - |
| Profit (loss) carried forward14 | -€163,474 | -€139,212 | -€96,465 | -€65,453 | -€34,758 | ▲ 46.9% |
| Amounts payable17/49 | €401,709 | €377,984 | €334,407 | €276,793 | €211,018 | ▼ 23.8% |
| Amounts payable after more than one year17 | €319,043 | €269,200 | €216,456 | €160,640 | €112,112 | ▼ 30.2% |
| Financial debts170/4 | €319,043 | €269,200 | €216,456 | €160,640 | €112,112 | ▼ 30.2% |
| Amounts payable within one year42/48 | €75,916 | €105,284 | €114,201 | €112,403 | €91,406 | ▼ 18.7% |
| Current portion of amounts payable after more than one year42 | €47,102 | €49,843 | €52,744 | €55,816 | €48,528 | ▼ 13.1% |
| Trade debts44 | - | - | €1,016 | €1,888 | €940 | ▼ 50.2% |
| Suppliers440/4 | - | - | €1,016 | €1,888 | €940 | ▼ 50.2% |
| Taxes, remuneration and social security45 | - | €26,927 | €31,926 | €26,285 | €22,885 | ▼ 12.9% |
| Taxes450/3 | - | €26,927 | €31,926 | €26,285 | €22,885 | ▼ 12.9% |
| Other amounts payable47/48 | €28,814 | €28,514 | €28,514 | €28,414 | €19,053 | ▼ 32.9% |
| Accrued charges and deferred income492/3 | €6,750 | €3,500 | €3,750 | €3,750 | €7,500 | ▲ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €36,471 | €24,262 | €42,747 | €31,012 | €30,695 | ▼ 1.0% |
| + Depreciation and write-downs630 | €3,005 | €1,508 | €1,508 | €1,291 | €1,291 | = |
| Operating cash flow (approximation) | €39,476 | €25,770 | €44,255 | €32,303 | €31,986 | ▼ 1.0% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €1,859 | €588 | €4,781 | €2,590 | ▼ 45.8% |
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
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.
Directors · office · real estate
1 establishment unit
1 parcel
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92126C0260/00R000 | Wallonia | 2,178 m² | 1 · 127 m² | 7.2 m · 2 fl. |
Linked by address, not proof of ownership
Identification & contact
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
What can you do?
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Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.