MARVELS
ActiveMARVELS has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €10k and a net result of €-38k. Equity is shrinking by ~10.9% per year across the filed fiscal years. Its solvency ranks better than 16% of 7538 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-6
Solvency26▼-18
Growth32▼-46
Stability100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days only on tighter terms
Liquidity ample (current ratio 1.5 against 1.91 in 2024), but 95% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 82
Relative position
BE, all sectors
reference
Sector 82
lower
← 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 2025Solvency, return and age of the figures
Solvency
5%
Return on assets
-17.8%
Age of the figures
11 mo
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
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 16% of 7538 sector peers (2025).
NBB · sector comparisonPosition among 7538 sector peers
Solvency
better than 16%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 18-12-2025, 133 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
133 d early
2024
113 d early
2023
49 d early
2022
4 d early
2021
1 d early
2020
23 d early
2019
48 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
05-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€10k▼ 78.3%
2024 · €48k
2022: €41k
2023: €48k
2024: €48k
2022 → 2025
Total assets
€212k▼ 17.1%
2024 · €255k
2022: €278k
2023: €324k
2024: €255k
2022 → 2025
Net result
€-38k
2024 · €570
2022: €235
2023: €6k
2024: €570
2022 → 2025
Working capital
€26k▼ 47.5%
2024 · €49k
2022: €120k
2023: €36k
2024: €49k
2022 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2022202320242025Trend
Equity€41k-€48k▲ 15.4%€48k▲ 1.2%€10k▼ 78.3%
Operating result€15k-€24k▲ 60.8%€18k▼ 23.0%€-24k
Net result€235-€6k▲ 2,604%€570▼ 91.0%€-38k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €24k after €18k in 2024, the lowest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €212k
Fixed assets
€135k▼ 11.4%
Current assets
€77k▼ 25.4%
Equity and liabilities €212k
Equity
€10k▼ 78.3%
Debt
€201k▼ 2.8%
The debt ratio rises from 81.1% to 95.0%: equity shrinks faster than debt is paid down.
Key figures and ratios
EBITDA
€-6k▼
2024 · €36k
Cash flow
€-20k▼
2024 · €18k
Solvency
5.0%▼
2024 · 18.9%
Current ratio
1.50▼
2024 · 1.91
Quick ratio
1.50▼
2024 · 1.91
Debt / equity
19.20▲
2024 · 4.29
ROE
-360.3%▼
2024 · 1.2%
ROA
-17.8%▼
2024 · 0.2%
Interest coverage
-0.44▼
2024 · 2.55
Debt
€201k▼
2024 · €207k
Debt ≤ 1 year
€51k▼
2024 · €54k
Debt > 1 year
€150k▼
2024 · €153k
Income taxes
€190▼
2024 · €4k
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 · 2025 against 2024
Balance sheet
Code20242025
Total assets
20/58€255k€212k▼
Fixed assets
21/28€152k€135k▼
Tangible fixed assets
22/27€152k€135k▼
Current assets
29/58€103k€77k▼
Amounts receivable within one year
40/41€75k€23k▼
Cash & bank
54/58€28k€54k▲
Total equity & liabilities
10/49€255k€212k▼
Equity
10/15€48k€10k▼
Contributions / capital
10/11€8k€8k=
Reserves
13€25k€16k▼
Accumulated profits (losses)
14€16k€-13k▼
Amounts payable
17/49€207k€201k▼
Amounts payable after one year
17€153k€150k▼
Amounts payable within one year
42/48€54k€51k▼
Trade debts payable within one year
44€344€304▼
Income statement
Code20242025
Gross operating margin
9900€37k€-4k▼
Operating result
9901€18k€-24k▼
Financial charges
65€14k€14k▼
Result before taxes
9903€4k€-38k▼
Income taxes
67/77€4k€190▼
Net result for the period
9904€570€-38k▼
Result to be appropriated
9905€570€-38k▼
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2025
18-12
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
30-09
Financial
Weakest financial yearnet €-38k ▼6726%
Net result drops to €-38k, the lowest in the series.
07-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
12-03
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-09
Financial
Highest result since 2022net €6k ▲2604%
Operating result €24k, net result €6k, both a record.
26-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
29-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
07-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
13-05
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
16-05
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
30-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
27-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
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Of 4,557 companies in sector 82300 we hold annual accounts for 1,590. 837 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded04-09-2013
Fiscal year end30-09
Activities, NACEBEL
82300Organisation of conventions and trade shows
62010Computer programming, consultancy and related activities
62100Computer programming
68321Property management for co-owned buildings (syndics)
68322Real estate activities
70200Business and other management consultancy
70220Business consulting
Sources
Crossroads Bank for EnterprisesNational Bank · 11 filingsAddress and cadastre registers
Data from official sources, last processed on 04-09-2026. Scores and ratios are computed by Checked and are not a credit decision.