Marvan Pan
ActiveMarvan Pan has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €34k and a net result of €3k. Equity is growing by ~7.4% per year across the filed fiscal years. Its solvency ranks better than 35% of 15869 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2024
47
/ 100
Fair
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability42▼-3
Solvency46▼-8
Growth78=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1.5k at 30 days acceptable
Liquidity tight (current ratio 1.26 against 1.41 in 2023; short-term debt: 79.4% and cash: 15.5% of total assets), and 79.4% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
+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 46
Relative position
BE, all sectors
reference
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
20.6%
Return on assets
1.6%
Age of the figures
20 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 25-08-2025, 25 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 · 9 filingsDeviation from the deadline
2025
not confirmed
2024
25 d late
2023
12 d late
2022
31 d late
2021
30 d early
2020
31 d late
2019
32 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, micro schema
Equity
€34k▲ 8.7%
2023 · €32k
2018: €22k
2019: €25k
2020: €26k
2021: €26k
2022: €28k
2023: €32k
2018 → 2024
Total assets
€166k▲ 52.4%
2023 · €109k
2018: €82k
2019: €88k
2020: €86k
2021: €85k
2022: €77k
2023: €109k
2018 → 2024
Net result
€3k▼ 13.7%
2023 · €3k
2018: €996
2019: €3k
2020: €263
2021: €496
2022: €2k
2023: €3k
2018 → 2024
Working capital
€34k▲ 8.7%
2023 · €32k
2018: €22k
2019: €25k
2020: €26k
2021: €26k
2022: €28k
2023: €32k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€26k-€26k▲ 1.9%€28k▲ 8.9%€32k▲ 11.2%€34k▲ 8.7%
Operating result€806-€1k▲ 33.0%€3k▲ 210%€4k▲ 32.5%€4k▼ 11.3%
Net result€263-€496▲ 88.7%€2k▲ 368%€3k▲ 36.8%€3k▼ 13.7%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 11% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Equity and liabilities €166k
Equity
€34k▲ 8.7%
Debt
€132k▲ 70.1%
The debt ratio rises from 71.1% to 79.4%. Equity and debt are higher.
Key figures and ratios
Solvency
20.6%▼
2023 · 28.9%
Current ratio
1.26▼
2023 · 1.41
Quick ratio
1.17▼
2023 · 1.39
Debt / equity
3.86▲
2023 · 2.47
ROE
8.0%▼
2023 · 10.1%
ROA
1.6%▼
2023 · 2.9%
Debt
€132k▲
2023 · €78k
Debt ≤ 1 year
€132k▲
2023 · €78k
Income taxes
€1k▼
2023 · €1k
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 · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€109k€166k▲
Current assets29/58€109k€166k▲
Stocks and contracts in progress3€1k€11k▲
Stocks30/36€1k€11k▲
Amounts receivable within one year40/41€50k€129k▲
Trade receivables40€49k€116k▲
Other amounts receivable41€851€13k▲
Cash at bank and in hand54/58€58k€26k▼
Equity and liabilities
Total equity and liabilities10/49€109k€166k▲
Equity10/15€32k€34k▲
Contributions10/11€6k€6k=
Reserves13€25k€28k▲
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€23k€26k▲
Amounts payable17/49€78k€132k▲
Amounts payable within one year42/48€78k€132k▲
Trade debts44€63k€131k▲
Suppliers440/4€63k€131k▲
Taxes, remuneration and social security45€14k€1k▼
Taxes450/3€14k€1k▼
Income statement
Code20232024
Other operating charges640/8€547€387▼
Gross operating margin9900€5k€4k▼
Operating profit (loss)9901€4k€4k▼
Financial income75/76B€0€59▲
Recurring financial income75€0€59▲
Financial charges65/66B€72€72=
Recurring financial charges65€72€72=
Profit (loss) for the period before taxes9903€4k€4k▼
Income taxes67/77€1k€1k▼
Profit (loss) for the period9904€3k€3k▼
Profit (loss) for the period to be appropriated9905€3k€3k▼
Appropriation of the result
Profit (loss) to be appropriated9906€3k€3k▼
Transfer to equity691/2€3k€3k▼
To other reserves6921€3k€3k▼
The notes to these accounts (1 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
25-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 25 days late
2024
12-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 12 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
01-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-12
Financial
Weakest financial yearnet €263 ▼91.9%
Net result drops to €263, the lowest in the series; recovery starts the following year.
01-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 32 days late
2019
31-12
Financial
Highest result since 2018net €3k ▲224%
Net result €3k, the highest in the series.
19-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 19 days late
2018
19-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 19 days late
2017
23-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 23 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Jemeppe-sur-Sambre · 1 establishment unit since 2015
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 François-Hittelet 845190 Jemeppe-sur-SambreGround area
5,134 m²
Building footprint
1,476 m²
Volume, LiDAR
12,577 m³
Parcel 92068C0497/00N002, Wallonia · tallest building 10.0 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Marvan Pan
since 20152.248.773.566
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92068C0497/00N002 | Wallonia | 5,134 m² | 1 · 1,476 m² | 10.0 m · 3 fl. |
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.
Similar companies · same sector, comparable size
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KAUL
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Inspirations Belgium
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MAK DISTRIBUTION
BE 1024.035.631
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BELGIAN FOOD PARTNERS
BE 0797.672.867
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Of 698 companies in sector 46392 we hold annual accounts for 486. 241 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded08-10-2015
Fiscal year end31-12
Activities, NACEBEL
46392Non-specialised wholesale
46190Agents in non-specialised wholesale trade
46391Wholesale trade
52100Warehousing and storage
82300Organisation of conventions and trade shows
82990Other business support services
Sources
Crossroads Bank for EnterprisesNational Bank · 9 filingsAddress and cadastre registers
Data from official sources, last processed on 16-09-2026. Scores and ratios are computed by Checked and are not a credit decision.