MARVOL
ActiveSummary
MARVOL has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €189k and a net result of €21k. Equity is growing by ~17.6% per year across the filed fiscal years. Its solvency ranks better than 49% of 7058 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability76▼-7
Solvency78▼-22
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €14k at 30 days acceptable
Liquidity tight (current ratio 1.29 against 10.61 in 2024; short-term debt: 45% and cash: 35.2% of total assets), and 46.9% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
53.1%
Return on assets
5.9%
Age of the figures
9 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
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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
31 d late
2024
25 d late
2023
29 d late
2022
30 d late
2021
26 d late
2020
3 d early
2019
38 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€189k▼ 39.2%
2024 · €311k
2018: €132k
2019: €85k▼ -35.6% vs 2018
2020: €77k▼ -9.3% vs 2019lowest in 8 years
2021: €131k▲ +70.6% vs 2020
2022: €202k▲ +53.6% vs 2021
2023: €271k▲ +34.3% vs 2022
2024: €311k▲ +14.8% vs 2023highest in 8 years
2025: €189k▼ -39.2% vs 2024
2018 → 2025
Total assets
€357k▲ 4.8%
2024 · €341k
2018: €179k
2019: €96k▼ -46.4% vs 2018lowest in 8 years
2020: €106k▲ +10.2% vs 2019
2021: €135k▲ +27.9% vs 2020
2022: €235k▲ +73.8% vs 2021
2023: €319k▲ +35.8% vs 2022
2024: €341k▲ +6.8% vs 2023
2025: €357k▲ +4.8% vs 2024highest in 8 years
2018 → 2025
Net result
€21k▼ 47.6%
2024 · €40k
2018: €-962
2019: €-47k▼ -4772% vs 2018lowest in 8 years
2020: €-8k▲ +83.2% vs 2019
2021: €54k▲ +791% vs 2020
2022: €70k▲ +29.6% vs 2021highest in 8 years
2023: €69k▼ -1.6% vs 2022
2024: €40k▼ -42.1% vs 2023
2025: €21k▼ -47.6% vs 2024
2018 → 2025
Working capital
€47k▼ 67.1%
2024 · €142k
2018: €52k
2019: €40k▼ -23.5% vs 2018lowest in 8 years
2020: €62k▲ +56.6% vs 2019
2021: €123k▲ +97.7% vs 2020
2022: €135k▲ +9.7% vs 2021
2023: €170k▲ +26.5% vs 2022highest in 8 years
2024: €142k▼ -16.8% vs 2023
2025: €47k▼ -67.1% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€131k-€202k▲ 53.6%€271k▲ 34.3%€311k▲ 14.8%€189k▼ 39.2%
2021: €131klowest in 5 years
2022: €202k▲ +53.6% vs 2021
2023: €271k▲ +34.3% vs 2022
2024: €311k▲ +14.8% vs 2023highest in 5 years
2025: €189k▼ -39.2% vs 2024
Operating result€113k-€91k▼ 19.1%€86k▼ 5.7%€62k▼ 27.6%€57k▼ 7.8%
2021: €113khighest in 5 years
2022: €91k▼ -19.1% vs 2021
2023: €86k▼ -5.7% vs 2022
2024: €62k▼ -27.6% vs 2023
2025: €57k▼ -7.8% vs 2024lowest in 5 years
Net result€54k-€70k▲ 29.6%€69k▼ 1.6%€40k▼ 42.1%€21k▼ 47.6%
2021: €54k
2022: €70k▲ +29.6% vs 2021highest in 5 years
2023: €69k▼ -1.6% vs 2022
2024: €40k▼ -42.1% vs 2023
2025: €21k▼ -47.6% vs 2024lowest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen four years in a row; 2025 is 8% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €357k
Fixed assets
€149k ▼ 18.8%
Current assets
€207k ▲ 32.5%
Equity and liabilities €357k
Equity
€189k ▼ 39.2%
Debt
€167k ▲ 475%
Debt's share of the balance-sheet total rises from 8.6% to 46.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€96k▼
2024 · €97k
Cash flow
€60k▼
2024 · €75k
Current ratio
1.29▼
2024 · 10.61
Quick ratio
1.18▼
2024 · 9.15
Debt to equity
0.88▲
2024 · 0.09
ROE
11.1%▼
2024 · 12.9%
ROA
5.9%▼
2024 · 11.8%
Interest coverage
11.15▼
2024 · 17.14
Debt ≤ 1 year
€161k▲
2024 · €15k
Debt > 1 year
€7k▼
2024 · €14k
Income taxes
€21k▲
2024 · €18k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 52 lines
Balance sheet
Code20242025
Assets
Total assets20/58€341k€357k▲
Fixed assets21/28€184k€149k▼
Tangible fixed assets22/27€184k€149k▼
Plant, machinery and equipment23€102k€92k▼
Furniture and vehicles24€82k€58k▼
Current assets29/58€157k€207k▲
Amounts receivable after more than one year29€15k€15k=
Other amounts receivable291€15k€15k=
Stocks and contracts in progress3€22k€17k▼
Stocks30/36€22k€17k▼
Amounts receivable within one year40/41€31k€50k▲
Trade receivables40€16k€23k▲
Other amounts receivable41€14k€26k▲
Cash at bank and in hand54/58€89k€126k▲
Equity and liabilities
Total equity and liabilities10/49€341k€357k▲
Equity10/15€311k€189k▼
Contributions10/11€12k€12k=
Reserves13€273k€151k▼
Tax-exempt reserves132€19k€19k=
Distributable reserves133€254k€132k▼
Profit (loss) carried forward14€26k€26k▲
Amounts payable17/49€29k€167k▲
Amounts payable after more than one year17€14k€7k▼
Financial debts170/4€14k€7k▼
Amounts payable within one year42/48€15k€161k▲
Current portion of amounts payable after more than one year42€7k€8k▲
Trade debts44€4k€1k▼
Suppliers440/4€4k€1k▼
Taxes, remuneration and social security45€3k€9k▲
Taxes450/3€3k€6k▲
Remuneration and social security454/9-€3k
Other amounts payable47/48-€143k
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€35k€39k▲
Other operating charges640/8€2k€2k▲
Gross operating margin9900€99k€98k▼
Operating profit (loss)9901€62k€57k▼
Financial income75/76B€2k€8k▲
Recurring financial income75€2k€8k▲
Financial charges65/66B€6k€23k▲
Recurring financial charges65€6k€9k▲
Non-recurring financial charges66B-€14k
Profit (loss) for the period before taxes9903€58k€42k▼
Income taxes67/77€18k€21k▲
Profit (loss) for the period9904€40k€21k▼
Profit (loss) for the period to be appropriated9905€40k€21k▼
Appropriation of the result
Profit (loss) to be appropriated9906€66k€47k▼
Profit (loss) brought forward from the previous period14P€26k€26k▲
Transfer from equity791/2-€143k
Transfer to equity691/2€40k€21k▼
To other reserves6921€40k€21k▼
Profit to be distributed694/7-€143k
Return on contributions (dividend)694-€143k
The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9k | €12k | €21k | €35k | €39k | ▲ 10.6% |
| Other operating charges640/8 | €2k | €3k | €4k | €2k | €2k | ▲ 9.3% |
| Gross operating margin9900 | €123k | €106k | €111k | €99k | €98k | ▼ 0.9% |
| Operating profit (loss)9901 | €113k | €91k | €86k | €62k | €57k | ▼ 7.8% |
| Financial income75/76B | €1k | €8k | €4k | €2k | €8k | ▲ 369% |
| Recurring financial income75 | €1k | €8k | €4k | €2k | €8k | ▲ 369% |
| Financial charges65/66B | €43k | - | €1k | €6k | €23k | ▲ 304% |
| Recurring financial charges65 | €43k | - | €1k | €6k | €9k | ▲ 52.0% |
| Non-recurring financial charges66B | - | - | - | - | €14k | - |
| Profit (loss) for the period before taxes9903 | €70k | €99k | €88k | €58k | €42k | ▼ 27.4% |
| Income taxes67/77 | €16k | €29k | €19k | €18k | €21k | ▲ 17.6% |
| Profit (loss) for the period9904 | €54k | €70k | €69k | €40k | €21k | ▼ 47.6% |
| Transfer from tax-exempt reserves789 | €19k | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €73k | €70k | €69k | €40k | €21k | ▼ 47.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €135k | €235k | €319k | €341k | €357k | ▲ 4.8% |
| Fixed assets21/28 | €9k | €74k | €123k | €184k | €149k | ▼ 18.8% |
| Intangible fixed assets21 | €5k | €1k | - | - | - | - |
| Tangible fixed assets22/27 | €4k | €73k | €123k | €184k | €149k | ▼ 18.8% |
| Plant, machinery and equipment23 | €563 | €2k | €15k | €102k | €92k | ▼ 10.1% |
| Furniture and vehicles24 | €3k | €71k | €107k | €82k | €58k | ▼ 29.6% |
| Current assets29/58 | €126k | €161k | €196k | €157k | €207k | ▲ 32.5% |
| Amounts receivable after more than one year29 | - | - | €15k | €15k | €15k | = |
| Other amounts receivable291 | - | - | €15k | €15k | €15k | = |
| Stocks and contracts in progress3 | €15k | €17k | €20k | €22k | €17k | ▼ 21.0% |
| Stocks30/36 | €15k | €17k | €20k | €22k | €17k | ▼ 21.0% |
| Amounts receivable within one year40/41 | €21k | €37k | €36k | €31k | €50k | ▲ 62.2% |
| Trade receivables40 | €11k | €2k | €25k | €16k | €23k | ▲ 42.2% |
| Other amounts receivable41 | €10k | €34k | €12k | €14k | €26k | ▲ 85.3% |
| Cash at bank and in hand54/58 | €84k | €107k | €125k | €89k | €126k | ▲ 40.7% |
| Deferred charges and accrued income490/1 | €6k | €36 | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €135k | €235k | €319k | €341k | €357k | ▲ 4.8% |
| Equity10/15 | €131k | €202k | €271k | €311k | €189k | ▼ 39.2% |
| Contributions10/11 | €12k | €12k | €12k | €12k | €12k | = |
| Reserves13 | €94k | €164k | €233k | €273k | €151k | ▼ 44.8% |
| Non-distributable reserves130/1 | €2k | €2k | - | - | - | - |
| Reserves not available under the articles1311 | €2k | €2k | - | - | - | - |
| Tax-exempt reserves132 | €19k | €19k | €19k | €19k | €19k | = |
| Distributable reserves133 | €73k | €143k | €214k | €254k | €132k | ▼ 48.1% |
| Profit (loss) carried forward14 | €25k | €26k | €26k | €26k | €26k | ▲ 0.1% |
| Amounts payable17/49 | €4k | €33k | €48k | €29k | €167k | ▲ 475% |
| Amounts payable after more than one year17 | - | €7k | €22k | €14k | €7k | ▼ 53.6% |
| Financial debts170/4 | - | €7k | €22k | €14k | €7k | ▼ 53.6% |
| Amounts payable within one year42/48 | €4k | €26k | €26k | €15k | €161k | ▲ 990% |
| Current portion of amounts payable after more than one year42 | - | €10k | €14k | €7k | €8k | ▲ 4.3% |
| Trade debts44 | €2k | €4k | €3k | €4k | €1k | ▼ 67.4% |
| Suppliers440/4 | €2k | €4k | €3k | €4k | €1k | ▼ 67.4% |
| Taxes, remuneration and social security45 | €832 | €11k | €9k | €3k | €9k | ▲ 172% |
| Taxes450/3 | €832 | €11k | €9k | €3k | €6k | ▲ 89.7% |
| Remuneration and social security454/9 | - | - | - | - | €3k | - |
| Other amounts payable47/48 | €1k | €1k | €164 | - | €143k | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €54k | €70k | €69k | €40k | €21k | ▼ 47.6% |
| + Depreciation and write-downs630 | €9k | €12k | €21k | €35k | €39k | ▲ 10.6% |
| Operating cash flow (approximation) | €63k | €82k | €91k | €75k | €60k | ▼ 20.5% |
| Investment in fixed assets (approximation) | - | €-77k | €-70k | €-96k | €-4k | ▲ 95.6% |
| Change in cash | - | €23k | €18k | €-36k | €36k | ▲ 201% |
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
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
25-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 25 days late
2024
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
31-12
Financial
Highest result since 2018net €70k ▲29.6%
Net result €70k, the highest in the series.
31-12
Financial
Equity above €200kEq €202k ▲53.6%
2 profitable years in a row build equity to €202k.
26-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 26 days late
2021
31-12
Financial
Back to profitnet €54k
Net result €54k after 3 loss-making years.
31-12
Financial
Liquidity times 11current ratio 34.63
Current ratio from 3.17 to 34.63; short-term debt falls from €29k to €4k.
31-12
Financial
Equity above €100kEq €131k ▲70.6%
Equity rises from €77k to €131k.
28-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
23-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Show earlier events
2019
31-12
Financial
Weakest financial yearnet €-47k
Net result drops to €-47k, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity doublescurrent ratio 4.63
Current ratio from 2.10 to 4.63; short-term debt falls from €47k to €11k.
22-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 22 days late
2018
03-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
27-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
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.
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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, Opwijk · 1 establishment unit since 2011
Ground area
9,832 m²
Building footprint
531 m²
Volume, LiDAR
2,602 m³
Parcel 23060D0098/00E000, Flanders · tallest building 8.4 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Molenbeekstraat 10, 1745 Opwijk
since 20112.204.184.448
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23060D0098/00E000 | Flanders | 9,832 m² | 1 · 531 m² | 8.4 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.
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Of 13,417 companies in sector 73300 we hold annual accounts for 6,898. 5,296 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded12-05-2011
Fiscal year end31-12
Activities, NACEBEL 2025
73300Public relations and communication consultancy
Scores and ratios are computed by Checked and are not a credit decision.