MARUBO
ActiveSummary
MARUBO has been active since 2000 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €678,308 and a net result of €97,931. Equity is growing by ~6.5% per year across the filed fiscal years. Its solvency ranks better than 70% of 36378 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability80▲+1
Solvency90▼-10
Growth81=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €50,000 at 30 days acceptable
Liquidity ample (current ratio 2.57 against 11.41 in 2023; short-term debt: 35.2% and cash: 26.5% of total assets), and 35.2% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← 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 2024Solvency, return and age of the figures
Solvency
64.8%
Return on assets
9.4%
Age of the figures
21 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 26-09-2025, 57 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
57 d late
2023
119 d late
2022
91 d late
2021
106 d late
2020
88 d late
2019
49 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 85 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Turnover
€887,301▲ 16.7%
2018 · €760,503
EBIT margin
9.7%▲ 3.4pp
2018 · 6.2%
Net result
€97,931▲ 31.6%
2023 · €74,426
Working capital
€578,478▼ 20.7%
2023 · €729,523
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Turnover
Operating result€31,027▼ 63.8%€21,310▼ 31.3%€156,435▲ 634%€106,095▼ 32.2%€142,491▲ 34.3%
Net result€23,405within the sector's middle half▼ 62.9%€1,087within the sector's middle half▼ 95.4%€111,149above the sector's middle half▲ 10,127%€74,426above the sector's middle half▼ 33.0%€97,931above the sector's middle half▲ 31.6%
EBIT margin
Equity€672,637above the sector's middle half▲ 3.6%€673,723above the sector's middle half▲ 0.2%€784,873above the sector's middle half▲ 16.5%€859,299above the sector's middle half▲ 9.5%€678,308above the sector's middle half▼ 21.1%
Total assets€705,228above the sector's middle half▼ 1.3%€727,878above the sector's middle half▲ 3.2%€849,213above the sector's middle half▲ 16.7%€929,648above the sector's middle half▲ 9.5%€1.0mabove the sector's middle half▲ 12.6%
Debt€32,592▼ 50.1%€54,155▲ 66.2%€64,340▲ 18.8%€70,349▲ 9.3%€368,474▲ 424%
Working capital€517,438above the sector's middle half▲ 11.2%€571,935above the sector's middle half▲ 10.5%€686,883above the sector's middle half▲ 20.1%€729,523above the sector's middle half▲ 6.2%€578,478above the sector's middle half▼ 20.7%
Solvency95.4%above the sector's middle half▲ 4.5pp92.6%above the sector's middle half▼ 2.8pp92.4%above the sector's middle half▼ 0.1pp92.4%above the sector's middle half=64.8%within the sector's middle half▼ 27.6pp
Current ratio16.88above the sector's middle half▲ 8.5215.49above the sector's middle half▼ 1.3911.72above the sector's middle half▼ 3.7711.41above the sector's middle half▼ 0.312.57within the sector's middle half▼ 8.84
Return on assets (ROA)3.3%within the sector's middle half▼ 5.5pp0.1%below the sector's middle half▼ 3.2pp13.1%within the sector's middle half▲ 12.9pp8.0%within the sector's middle half▼ 5.1pp9.4%within the sector's middle half▲ 1.3pp
Staff (FTE)0.8below the sector's middle half▼ 20.0%1▲ 25.0%1=1=1=
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 34% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.0m
Fixed assets
€99,830 ▼ 23.2%
Current assets
€946,952 ▲ 18.4%
Equity and liabilities €1.0m
Equity
€678,308 ▼ 21.1%
Debt
€368,474 ▲ 424%
Debt's share of the balance-sheet total rises from 7.6% to 35.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€176,110▲
2023 · €140,589
Cash flow
€131,549▲
2023 · €108,920
Quick ratio
0.88▼
2023 · 3.64
Debt to equity
0.54▲
2023 · 0.08
ROE
14.4%▲
2023 · 8.7%
Interest coverage
801.45▲
2023 · 509.14
Debt ≤ 1 year
€368,474▲
2023 · €70,085
Income taxes
€44,341▲
2023 · €31,429
Staff costs
€59,118▼
2023 · €59,894
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,371 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.5%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% 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 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 31,371 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.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €543 | €20,340 | - | - |
| Remuneration, social security and pensions62 | - | €53,204 | €56,952 | €59,894 | €59,118 | ▼ 1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €76,212 | €59,200 | €60,306 | €34,493 | €33,619 | ▼ 2.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €1,500 | €1,234 | - | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | €6,865 | - | - | - | - |
| Other operating charges640/8 | - | - | €7,456 | €8,258 | €8,921 | ▲ 8.0% |
| Non-recurring operating charges66A | - | €1,177 | €303 | €281 | €160 | ▼ 43.1% |
| Gross operating margin9900 | €155,758 | €141,756 | €282,952 | €210,256 | €244,308 | ▲ 16.2% |
| Operating profit (loss)9901 | €31,027 | €21,310 | €156,435 | €106,095 | €142,491 | ▲ 34.3% |
| Financial income75/76B | - | €183 | €355 | €37 | €0 | ▼ 99.2% |
| Recurring financial income75 | €209 | €183 | €355 | €37 | €0 | ▼ 99.2% |
| Financial charges65/66B | - | €1,634 | €383 | €276 | €220 | ▼ 20.4% |
| Recurring financial charges65 | €189 | €379 | €308 | €276 | €220 | ▼ 20.4% |
| Non-recurring financial charges66B | - | €1,256 | €75 | - | - | - |
| Profit (loss) for the period before taxes9903 | €31,047 | €19,859 | €156,407 | €105,856 | €142,272 | ▲ 34.4% |
| Income taxes67/77 | €7,642 | €18,772 | €45,258 | €31,429 | €44,341 | ▲ 41.1% |
| Profit (loss) for the period9904 | €23,405 | €1,087 | €111,149 | €74,426 | €97,931 | ▲ 31.6% |
| Transfer from tax-exempt reserves789 | - | €65,583 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €23,405 | €66,670 | €111,149 | €74,426 | €97,931 | ▲ 31.6% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €705,228 | €727,878 | €849,213 | €929,648 | €1.0m | ▲ 12.6% |
| Fixed assets21/28 | €155,199 | €116,469 | €98,254 | €130,040 | €99,830 | ▼ 23.2% |
| Tangible fixed assets22/27 | €155,199 | €116,469 | €98,254 | €130,040 | €99,830 | ▼ 23.2% |
| Land and buildings22 | - | €2,984 | €1,469 | €129 | €2,148 | ▲ 1,570% |
| Plant, machinery and equipment23 | - | €40,063 | €42,420 | €33,386 | €24,864 | ▼ 25.5% |
| Furniture and vehicles24 | - | €73,422 | €54,365 | €96,526 | €72,818 | ▼ 24.6% |
| Current assets29/58 | €550,029 | €611,409 | €750,959 | €799,608 | €946,952 | ▲ 18.4% |
| Stocks and contracts in progress3 | €421,210 | €467,964 | €558,109 | €544,381 | €623,212 | ▲ 14.5% |
| Stocks30/36 | - | €467,964 | €558,109 | €544,381 | €623,212 | ▲ 14.5% |
| Amounts receivable within one year40/41 | €18,948 | €65,017 | €49,159 | €31,686 | €38,060 | ▲ 20.1% |
| Trade receivables40 | - | €55,140 | €45,571 | €29,021 | €36,161 | ▲ 24.6% |
| Other amounts receivable41 | - | €9,876 | €3,587 | €2,665 | €1,899 | ▼ 28.7% |
| Cash at bank and in hand54/58 | €101,873 | €74,870 | €139,172 | €214,619 | €277,800 | ▲ 29.4% |
| Deferred charges and accrued income490/1 | - | €3,559 | €4,519 | €8,922 | €7,881 | ▼ 11.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €705,228 | €727,878 | €849,213 | €929,648 | €1.0m | ▲ 12.6% |
| Equity10/15 | €672,637 | €673,723 | €784,873 | €859,299 | €678,308 | ▼ 21.1% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €654,037 | €655,123 | €766,273 | €840,699 | €659,708 | ▼ 21.5% |
| Non-distributable reserves130/1 | - | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | €1,860 | - | - | - | - |
| Distributable reserves133 | - | €653,263 | €766,273 | €840,699 | €659,708 | ▼ 21.5% |
| Amounts payable17/49 | €32,592 | €54,155 | €64,340 | €70,349 | €368,474 | ▲ 424% |
| Amounts payable within one year42/48 | €32,592 | €39,475 | €64,076 | €70,085 | €368,474 | ▲ 426% |
| Financial debts43 | - | €7,345 | - | - | - | - |
| Credit institutions430/8 | - | €7,345 | - | - | - | - |
| Trade debts44 | €8,728 | €14,164 | €8,607 | €30,862 | €33,957 | ▲ 10.0% |
| Suppliers440/4 | - | €14,164 | €8,607 | €30,862 | €33,957 | ▲ 10.0% |
| Taxes, remuneration and social security45 | - | €13,943 | €55,469 | €39,223 | €66,405 | ▲ 69.3% |
| Taxes450/3 | - | €13,943 | €53,532 | €39,223 | €66,405 | ▲ 69.3% |
| Remuneration and social security454/9 | - | - | €1,937 | - | - | - |
| Other amounts payable47/48 | - | €4,023 | - | - | €268,111 | - |
| Accrued charges and deferred income492/3 | - | €14,680 | €264 | €264 | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €23,405 | €1,087 | €111,149 | €74,426 | €97,931 | ▲ 31.6% |
| + Depreciation and write-downs630 | €76,212 | €59,200 | €60,306 | €34,493 | €33,619 | ▼ 2.5% |
| Operating cash flow (approximation) | €99,617 | €60,287 | €171,455 | €108,920 | €131,549 | ▲ 20.8% |
| Investment in fixed assets (approximation) | - | -€20,469 | -€42,091 | -€66,280 | -€3,408 | ▲ 94.9% |
| Change in cash | - | -€27,003 | €64,303 | €75,447 | €63,180 | ▼ 16.3% |
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
2025
26-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 57 days late
2024
27-11
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 119 days late
2023
30-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 91 days late
2022
31-12
Financial
Highest result since 2018net €111,149 ▲10,127%
Operating result €156,435, net result €111,149, both a record.
14-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 106 days late
2021
31-12
Financial
Weakest financial yearnet €1,087 ▼95.4%
Net result drops to €1,087, the lowest in the series; recovery starts the following year.
27-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 88 days late
2020
31-12
Financial
Liquidity doublescurrent ratio 16.88
Current ratio from 8.36 to 16.88; short-term debt falls from €63,269 to €32,592.
18-09
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 49 days late
2019
30-10
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 91 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 31 days late
2017
29-09
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 60 days late
2016
30-09
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 61 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
No directors read yet: 0 of 1 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Harelbeke · 1 establishment unit since 2001
Ground area
178 m²
Building footprint
167 m²
Volume, LiDAR
1,200 m³
Parcel 34013A1236/00X000, Flanders · tallest building 12.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MARUBO
since 20012.116.152.889
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34013A1236/00X000 | Flanders | 178 m² | 1 · 167 m² | 11.9 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.
Subsidies and aid
Flemish government
2022 to 2023 · 2 entries · 375 EUR awarded · 375 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 327 EUR | 327 EUR |
| 2022 | 1 | 48 EUR | 48 EUR |
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Of 4,093 companies in this sector we hold annual accounts for 1,636. 868 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPrivate limited company
Founded07-12-2000
Fiscal year end31-12
Activities, NACEBEL 2025
43240Other construction installation
43331Floor and wall tiling
47791Retail sale of antiques
77320Rental and leasing activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0473419584
Registered
20-11-2020
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.