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MARSTEF

Active Private limited companyfounded 2008active for 18 yearsSint-Elooistraat 20, 8210 ZedelgemKBO/BCE: BE 0806.991.993
MARSTEF
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Overview

Lifetime

17 annual accounts with figures on one time axis
peak €61,382 (2024)
€35,836▼ 41.6%
lowest -€13,927 (2009)
€250▲ €1,149
peak €19,717 (2023)
€19,069▲ 1.3%
€372,225▼ 22.0%
Board2 names since 2008
2 directors and 1 other
Documentsfilings and deeds
31-07-2026on the last day
2025micro format
Gross margin from €61,382 to €35,836Back to profit: €250Registered-office move 06-02Debts from €477,344 to €372,225Cash from €1,437 to €2,436

Key points

from the 2025 annual accounts

Turnover

≈ €59,000 estimated

The micro format states no turnover.

Debts

€372,225 95% of the balance sheet
Financial debts 76%Suppliers 0%Taxes and wages 0%Other 24%

Of this, €88,895 falls due within a year.

Filings

17 annual accounts since 2009
AprilJune31 JulyOctober2010201520202025

The 2019 accounts came 17 days late. The other nine of the last ten were filed on time.

Checked score

Bankruptcy probability within 12 months

Financial strength

Score breakdown

Comparable companies, two years later

In July 2024, 1,374 companies had the same profile as MARSTEF has now. Each dot stands for 4 companies, two years later.

95.9%
were still trading
1.6%
stopped another way
2.2%
went bankrupt
  • Micro
  • 10 to 20 years old
  • solvency under 10%
  • a profit under 5% of the balance sheet

Another 0.3% stopped without a precise date, possibly only after those two years.

Test of the method

The method was tested on the 497,331 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.

The companies in ten equal groups, from the lowest to the highest expected share
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 2.9% 3.1%
10 5.6% 6.1%

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 1,374 companies, not a prediction for MARSTEF. 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.

Credit verdict

Credit check for an amount and term of your choice

Show the recommended maximum and see how the verdict changes with amount, term and advance.

The scores and ratios are Checked's own calculations, not a credit decision.

Signals

Board and ownership

Director, since 09-10-2008
Director, since 09-11-2021
Board & ownership

Recent changes

Registered in the Peppol Directory Reachable for e-invoices through 0208:0806991993
Registered-office move Board meeting of 15-01-2025 · Gazette deed
Legal-form change · Resignations & appointments Gazette deed
Incorporation published on 13-10-2008 · Gazette deed
All 26 events

Comparable companies

same main activity, similar in size and age
Company
MARSTEF Zedelgem €391,294 €35,836 4.9% -
IMMOBOUGON Beloeil €371,940 €36,937 -47.9% -
Castell Investments Antwerp Antwerp €394,065 €43,798 16.7% -
31 FRAGNEE Chaudfontaine €417,795 €41,639 86.6% -
IMMO.BAT+ Villers-la-Ville €467,677 €34,003 7.8% -
IL SOGNO Middelkerke €365,781 €44,609 32.7% -
JAMAKOR Kortemark €465,516 €28,188 18.6% -

These companies have the same main activity as MARSTEF: renting and operating of own or leased residential real estate, excluding social housing (NACE 68201). They are comparable in size and age: total assets between €366,000 and €468,000, founded between 2003 and 2008.

Official details

Source: KBO
Status
Active since 09-10-2008Normal situation
Activity
Renting and operating of own or leased residential real estate, excluding social housingNACE 68201and 2 others
Establishment unit
2.282.407.9218210 Zedelgem, since 09-10-2008
Financial year end
31 December
Peppol
Reachable since 02-10-2025
Company details

Annual accounts 2025

€35,836▼ 41.6%
€250
€19,069▲ 1.3%
€391,294▼ 21.1%
Filing
Filed on 31-07-2026, on the last day of the filing period
Financials

Insights on MARSTEF

MARSTEF files the micro format. That format states no turnover. The gross margin rose from €23,062 in 2009 to €35,836 in 2025.

The balance sheet grew most in 2018 through fixed assets, financed with long-term debt.

Sources: KBO register, filings at the National Bank, Belgian Official Gazette.

Financials

Annual accounts 2025

micro format, filed on 31-07-2026, on the day of the deadline
€35,836
▼ 41.6%
€7,973
▼ 3.0%
€250
▲ €1,149
-€81,970
▲ €74,857
4.9%
▲ 1.1 percentage points
0.08
▲ 0.01

Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.

Turnover ≈ €59,000. Estimated: probably between €44,000 and €85,000.

Balance sheet

balance sheet total €391,294 on 31-12-2025
What the company ownsHow it is paid for

in euro

in euro

Position in the sector

Compare with sector

4.9%

Higher than 26% of 19,803 companies in 2025.

0.08

Higher than 10% of 18,977 companies in 2025.

0.1%

Higher than 39% of 19,446 companies in 2025.

MARSTEF Middle half of the sector 80% of the sector Micro accounts in real estate (NACE 68)

Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: bottom quarter

Filed annual accounts

as filed with the National Bank, click a year to choose it
Line Trend20252024202320222021202020192018201720162015201420132012201120102009
Balance sheet: assets
20/58 391,294496,163380,871415,307426,019453,295498,363498,399234,619245,373258,801274,881288,613302,856315,702318,510335,450
20 -------------135315495675
21/28 384,369484,227368,309404,378420,511448,894487,775486,259215,942232,123249,917267,711282,882298,188313,539316,342334,317
22/27 384,369484,227368,309404,378420,511448,894487,775486,259215,942232,123249,917267,711282,882298,053313,224315,847333,642
22 384,369477,152359,372393,578420,511448,894487,775486,259215,942232,123249,917267,711282,882298,053313,224315,847333,642
26 07,0758,93810,800-------------
29/58 6,92511,93512,56110,9295,5094,40110,58812,14018,67713,2508,8847,1705,7314,6682,1632,1671,134
40/41 2892,8898,1207,305544672849915,8917,2785,5503,5182,5401,508---
40 1951,825462-----14,000--------
41 931,0657,6597,30554467284991,8917,2785,5503,5182,5401,508---
54/58 2,4361,4373,0653,6243,4342,1793,0662,6542,7862,8221845022,1412,1101,1132,1671,134
490/1 4,2007,6091,37601,5312,1567,2389,387-3,1503,1503,1501,0501,0501,050--
Balance sheet: equity and liabilities
10/49 391,294496,163380,871415,307426,019453,295498,363498,399234,619245,373258,801274,881288,613302,856315,702318,510335,450
10/15 19,06918,81919,71718,77017,2769,46411,15012,02016,65416,63715,60916,69816,38916,27515,1863,9604,623
10/11 18,55018,55018,55018,55018,55018,55018,55018,55018,55018,55018,55018,55018,55018,55018,55018,55018,550
100 ------18,55018,55018,55018,55018,55018,55018,55018,55018,55018,55018,550
14 5192691,167220-1,274-9,086-7,400-6,530-1,896-1,913-2,941-1,852-2,161-2,275-3,364-14,590-13,927
17/49 372,225477,344361,153396,537408,744443,831487,213486,379217,965228,736243,192258,183272,224286,582300,517314,549330,827
17 281,156307,335290,051323,590356,439388,261419,683426,109198,237213,303227,685241,414254,521267,034278,980290,383301,269
170/4 281,156307,335290,051323,590356,439388,261419,683426,109198,237213,303227,685241,414254,521267,034278,980290,383301,269
42/48 88,895168,76268,81970,55739,54655,57066,75160,27019,72714,38315,50716,76917,70319,54821,53724,16728,508
42 29,84525,27833,53932,84931,82231,33530,48228,35415,06514,38213,73013,10712,51311,94611,40310,88610,393
44 4204,2502,3993,026-1,4091,40921,7301,471---191----
440/4 4204,2502,3993,026-1,4091,40921,7301,471---191----
45 4429388--------------
450/3 4429388--------------
47/48 58,188139,14132,79334,6827,72422,82634,86010,1863,19111,7783,6624,9997,60210,13413,28018,116
492/3 2,1741,2472,2832,39012,759-780--1,050------1,050
Income statement
9900 35,83661,38247,32642,22947,56549,20343,71337,36730,93631,61329,92429,48329,88131,83929,65432,13023,062
630 24,68151,26336,06927,63528,38335,44624,26327,33218,60117,79417,79415,17115,30615,3512,80317,97422,468
640/8 3,1821,9022,2864,1041,9201,8084,0063,0091,6651,7461,5431,7331,6262,0341,7464451,726
9901 7,9738,2178,97110,48917,26111,94915,4437,02610,67012,07310,58712,57912,94914,45425,10413,710-1,132
75/76B 230-----20---------
75 230-----20---------
65/66B 7,7459,1168,0248,9969,44913,63516,31311,68010,65311,04611,67512,27012,83513,36513,87914,37312,795
65 7,7459,1168,0248,9969,44913,63511,26711,68010,65311,04611,67512,27012,83513,36513,87914,37312,795
66B ------5,047----------
9903 250-8989481,4947,812-1,686-870-4,634171,028-1,0893091141,08911,225-663-13,927
9904 250-8989481,4947,812-1,686-870-4,634171,028-1,0893091141,08911,225-663-13,927
9905 250-8989481,4947,812-1,686-870-4,634171,028-1,0893091141,08911,225-663-13,927
Appropriation of the result
9906 5192691,167220-1,274-9,086-7,400-6,530-1,896-1,913-2,941-1,852-2,161-2,275-3,364-14,590-13,927
14P 2691,167220-1,274-9,086------------
Document PDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDF

The notes to these accounts have 14 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Source: Annual accounts 2025 at the NBB, filed on 31-07-2026.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank
Financial year Type Filed Reference Document
31-12-2025 micro format 31-07-2026 2026-00364485 PDF
31-12-2024 micro format 22-07-2025 2025-00294351 PDF
31-12-2023 micro format 31-07-2024 2024-00311471 PDF
31-12-2022 micro format 31-07-2023 2023-00304715 PDF
31-12-2021 micro format 29-07-2022 2022-20259424 PDF
31-12-2020 micro format 30-07-2021 2021-43400410 PDF
31-12-2019 micro format 17-08-2020 2020-41800545 PDF
31-12-2018 micro format 31-07-2019 2019-42000538 PDF
31-12-2017 micro format 27-06-2018 2018-24200268 PDF
31-12-2016 micro format 31-07-2017 2017-39900008 PDF
31-12-2015 abbreviated format 30-08-2016 2016-54400015 PDF
31-12-2014 abbreviated format 23-07-2015 2015-34300292 PDF
31-12-2013 abbreviated format 12-08-2014 2014-41700347 PDF
31-12-2012 abbreviated format 31-07-2013 2013-38700200 PDF
31-12-2011 abbreviated format 17-07-2012 2012-31000007 PDF
31-12-2010 abbreviated format 29-08-2011 2011-48200306 PDF
31-12-2009 abbreviated format 06-07-2010 2010-28200074 PDF

Key figures and ratios

per financial year, computed from the annual accounts
Line Trend20252024202320222021202020192018201720162015201420132012201120102009
32,65459,48045,04038,12545,64547,39539,70634,35829,27129,86828,38127,75028,25529,80527,90731,68421,336
24,93150,36437,01629,12936,19533,76023,39322,69818,61818,82216,70515,48015,42016,44014,02817,3128,541
0167,181-011,50201,00625,780296,6432,4200000000355,884
999-1,628-5581901,255-887412-132-362,638-319-1,63831997-1,0541,034-
-81,970-156,827-56,257-59,628-34,038-51,169-56,163-48,130-1,050-1,133-6,623-9,599-11,972-14,880-19,374-21,999-27,374
4.9%3.8%5.2%4.5%4.1%2.1%2.2%2.4%7.1%6.8%6.0%6.1%5.7%5.4%4.8%1.2%1.4%
0.080.070.180.150.140.080.160.200.950.920.570.430.320.240.100.090.04
19.5225.3718.3221.1323.6646.9043.7040.4713.0913.7515.5815.4616.6117.6119.7979.4271.56
1.3%-4.8%4.8%8.0%45.2%-17.8%-7.8%-38.6%0.1%6.2%-7.0%1.9%0.7%6.7%73.9%-16.7%-301.3%
0.1%-0.2%0.2%0.4%1.8%-0.4%-0.2%-0.9%0.0%0.4%-0.4%0.1%0.0%0.4%3.6%-0.2%-4.2%
4.226.525.614.244.83------------

A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.

Securities and guarantees

on own assets and for others
Item20252024202320222021
Mortgages, amount registered€25,000€25,000€50,000€50,000-
€130,000€130,000---
Carrying value of the mortgaged assets€384,369€401,975€359,372€393,578-

Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)

Investments

fixed assets acquired
Item20252024202320222021
Tangible fixed assets-€167,181-€11,502-
Financial fixed assets€0----
€24,681€51,263€36,069€27,635€28,383

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Insights on MARSTEF

The operating result for 2025 is 3% lower than in 2024 and the lowest since 2018. It is the fourth fall in a row.

Debt's share of the balance-sheet total falls from 96.2% to 95.1%. Equity is higher and debt is lower.

Board & ownership

Board

2 directors
Director
since 09-10-2008
listed in the 2025 annual accounts, filed on 31-07-2026
Director
since 09-11-2021
listed in the 2025 annual accounts, filed on 31-07-2026
Signing authorityThe articles say who may bind the company, for example by signing a contract.
Each director alone
deed of 16-11-2021

Office holders in the KBO →

Mandates through the years

2 names, the dashed line is today

Director

Director
Board
Mandates as a list
    • Director, from 09-10-2008 to date
    • Director, from 09-11-2021 to date

See the board, name and registered office on a given date →

Control

See the annual accounts at the National Bank and the publications in the Belgian Official Gazette.

Capital

Contribution
€18,550
Source
2025 annual accounts

Articles of association

deed of 16-11-2021 (in Dutch)
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited

Network & group

No group

MARSTEF has no parent and no holdings in its annual accounts. MARSTEF shares no director with another company.

At the same address

Sint-Elooistraat 20, 8210 Zedelgem · 4 other companies
VAN HYFTE CONSULTANCY
registered office since 18-01-2013 · founded in 2013
 total assets €205,897 (2025)
0502.598.273
VAN HYFTE KOELTECHNIEK
registered office since 02-03-1988 · founded in 1987
 total assets €189,788 (2025)
0432.799.548
Van Hyfte Management
registered office since 10-07-2026
 founded in 2026
1040.192.168
VER EECKE CONSULTING
registered office since 14-11-2008
 founded in 2008
0807.759.877

Timeline

Timeline

26 events since 2008

Deadline for the 2026 accounts: 31-07-2027

2026
Annual accounts 2025 filed NBBmicro format · on the deadline day
2025
Back to profit net €250 The net result is €250, after one loss-making year.
Registered in the Peppol Directory Reachable for e-invoices through 0208:0806991993
Annual accounts 2024 filed PDFmicro format · 9 days before the deadline
Registered-office moveBoard meeting of 15-01-20252 points ▸
  • Board meeting, 15-01-2025
  • Registered-office move, Sint-Elooistraat 20

Open the deed in the Belgian Official Gazette

2024
Annual accounts 2023 filed PDFmicro format · on the deadline day
2023
Annual accounts 2022 filed PDFmicro format · on the deadline day
2022
Annual accounts 2021 filed PDFmicro format · 2 days before the deadline
2021
Back to profit net €7,812 The net result is €7,812, after 3 loss-making years.
Legal-form change · Resignations & appointments2 points ▸
  • General meeting, 09-11-2021
  • 100 shares
  • The deed holds 12 more points.

Open the deed in the Belgian Official Gazette

Annual accounts 2020 filed PDFmicro format · 1 day before the deadline
2020
Annual accounts 2019 filed PDFmicro format · 17 days late
2019
Annual accounts 2018 filed PDFmicro format · on the deadline day
2018
Annual accounts 2017 filed PDFmicro format · 34 days before the deadline
2017
Annual accounts 2016 filed PDFmicro format · on the deadline day
2016
Back to profit net €1,028 The net result is €1,028, after one loss-making year.
Annual accounts 2015 filed PDFabbreviated format · 30 days late
2015
Annual accounts 2014 filed PDFabbreviated format · 8 days before the deadline
2014
Annual accounts 2013 filed PDFabbreviated format · 12 days late
2013
Annual accounts 2012 filed PDFabbreviated format · on the deadline day
2012
Annual accounts 2011 filed PDFabbreviated format · 14 days before the deadline
2011
Back to profit net €11,225 The net result is €11,225, after 2 loss-making years.
Annual accounts 2010 filed PDFabbreviated format · 29 days late
2010
Annual accounts 2009 filed PDFabbreviated format · 25 days before the deadline
2008
Incorporation PDFpublished on 13-10-2008
First establishment Sint-Elooistraat 20, Zedelgem

Financial milestones sit on the financial year-end date, not the filing date.

Sources: Publications in the Belgian Official GazetteFilings with the National Bank

History

On 9 October 2008, MARSTEF was incorporated.1 Total assets went from €498,399 in 2018 to €391,294 in 2025.2

  1. 1KBO register
  2. 2National Bank, annual accounts 2018 and 2025

Company details

Identity

Enterprise number
0806.991.993
VAT number
BE 0806.991.993
Peppol ID
0208:0806991993
Other Peppol ID
9925:BE0806991993
Legal form
Private limited company
Status
Active, normal situation
Founded
09-10-2008
Financial year
ends on 31 December
Peppol
Reachable since 02-10-2025Follow this company and you will hear the next morning if it leaves the Peppol register.
Name
MARSTEF in Dutch
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 16-11-2021 (in Dutch)
Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Vlaams Gewest”
deed of 16-11-2021 (in Dutch)

Activities

NACEBEL 2025
68201 Renting and operating of own or leased residential real estate, excluding social housing main activity
55203 Holiday cottages, homes and apartments
55209 Other holiday and short-stay accommodation
Codes under NACEBEL 2008
68201 Real estate activities main activity
55203 Holiday cottages, homes and apartments
55209 Other holiday and short-stay accommodation
PurposeThe purpose describes the activities the company may carry out under its articles.
“Adviesverlening en consultancy met betrekking tot het gebruik van systemen voor wetenschappelijke,commerciële en industriële doeleinden;het…”
13 activities
  1. Adviesverlening en consultancy met betrekking tot het gebruik van systemen voor wetenschappelijke,commerciële en industriële doeleinden;het verlenen van diensten,research en ontwikkeling,het verrichten van studies voor wetenschappelijke,industriële en commerciële toepassingen
  2. De uitwerking en realisatie van projecten op wetenschappelijk,industrieel en commercieel gebied
  3. Alle daden van beheer,bijstand en management van industriële en handelsvennootschappen,zowel door rechtstreekse deelname aan het bestuur,als bij wijze van managementovereenkomst
  4. Het verschaffen van de nodige middelen,in de meest uitgebreide betekenis van het woord om een degelijk zakelijk beleid te verzekeren
  5. Het ter beschikking stellen van gebouwen,terreinen,installaties,apparatuur,organisatie,personeel en diensten voor bedrijven,maatschappijen en personen die hierom verzoeken
  6. Het ter beschikking stellen van alle apparatuur en diensten leveren die verband hebben met informatica met inbegrip van de handel in zowel hard- als software
  7. De aan- en verkoop,import en export van alle goederen in de meest ruime zin,waaronder telecommunicatieapparatuur en toebehoren
  8. Het selecteren,aanwerven,opleiden van aangepast personeel
  9. Het verzorgen,verwerken en opvolgen van het secretariaatsgebeuren,administratief,financieel en sociaal beheer van ondernemingen
  10. Managementvennootschap;het bevorderen van de oprichting van vennootschappen door inbreng,participatie of investering.Het waarnemen van alle bestuursopdrachten,het uitoefenen van mandaten en functies welke rechtstreeks of onrechtstreeks met haar voorwerp verband houden,zoals zaakvoerder,bestuurder,gedelegeerd bestuurder,vereffenaar,etc.
  11. De vennootschap heeft eveneens tot doel het toestaan van leningen,het stellen van zekerheden alsmede alle borgstellingen aan derden tegen vergoeding
  12. Tussenpersoon in de handel.
  13. Een patrimonium bestaande uit zowel roerende als onroerende goederen te verwerven,te behouden,in de ruimste zin van het woord te beheren en oordeelkundig uit te breiden.Aldus mag de vennootschap verwerven,door inschrijving of aankoop en beheren;aandelen,obligaties,kasbons of andere roerende waarden,van welke vorm ook,van Belgische of buitenlandse,bestaande of nog op te richten vennootschappen.Tevens mag de vennootschap aankopen,verkopen,oprichten,in huur geven en nemen,leasen,onderhouden,verbeteren,veranderen en verfraaien;alle onroerende goederen,zowel gebouwde als ongebouwde,in België als in het buitenland.Dit behelst onder meer ook het beheer,de instandhouding en valorisatie van een onroerend vermogen en de huurfinanciering van onroerende goederen aan derden,alsmede alle handelingen die rechtstreeks of onrechtstreeks met dit voorwerp in verband staan en die van aard zijn de opbrengst van de onroerende goederen te bevorderen,zoals het onderhoud,de ontwikkeling,de verfraaiing en de verhuring van deze goederen,alsmede zich borg stellen voor het goede verloop van de verbintenissen door derde personen aangegaan die het genot zouden hebben van deze onroerende goederen,alsook het optreden als bemiddelaar inzake verwerving van vastgoed,financiering en verzekering in het kader van voormelde activiteiten
deed of 16-11-2021 (in Dutch)

Registered office and establishments

1 establishment
Establishment Since Unit number
Sint-Elooistraat 20 registered office 8210 Zedelgem 09-10-2008 2.282.407.921
1 former office
  • Vanderkinderenweg 16, 8460 Roksem until 17-01-2025 · deed of 06-02-2025

Buildings and parcels at the address

Ground area
781 m²
Buildings
259 m²
Volume, LiDAR
1,678 m³
Tallest building
10.9 m
Buildings to scale, each on its own parcel
259 m², 10.9 m 259 m², 10.9 m

Location

registered office establishment The establishment unit on the map
5 companies at this address See who is registered here

Parcels

Cadastral parcelArea Buildings Height / floors
31040F1139/00Y002781 m² 1 · 259 m² 10.9 m · 2

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