MARX FRUIT
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 24-07-2026 at the NBB all 17 filings
Turnover
€216,874
EBIT margin
-60.4%
Net result
€22,044▼ 64.0%
2024 · €61,304
Working capital
-€126,953
2024 · €85,928
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
no figure
2025
20182025
Operating result
€42,929
▼ 31.7%
2025
20182025
Net result
€22,044
▼ 64.0%
2025
middle half of the sector
20182025
EBIT margin
no figure
2025
20182025
Equity
€81,899
▲ 35.0%
2025
middle half of the sector
20182025
Total assets
€1.1m
▲ 381%
2025
highest quarter of the sector
20182025
Debt
€989,840
▲ 510%
2025
20182025
Working capital
-€126,953
2025
lowest quarter of the sector
20182025
Solvency
7.6%
▼ 19.6pp
2025
lowest quarter of the sector
20182025
Current ratio
0.80
▼ 1.05
2025
middle half of the sector
20182025
Return on assets (ROA)
2.1%
▼ 25.4pp
2025
middle half of the sector
20182025
Staff (FTE)
0.8
▼ 20.0%
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€0.2m
Operating result-€0.02m--€0.04m▼ 92.9%-€0.01m▲ 63.2%€0.04m-€0.1m€0.1m€0.06m▼ 50.7%€0.04m▼ 31.7%
Net result-€0.01m--€0.04m▼ 143%-€0.01mbelow the sector's middle half▲ 62.7%€0.03mabove the sector's middle half-€0.1mbelow the sector's middle half€0.1mabove the sector's middle half€0.06mabove the sector's middle half▼ 49.6%€0.02mwithin the sector's middle half▼ 64.0%
EBIT margin-60.4%
Equity-€0.05m--€0.08m▼ 76.3%-€0.1mbelow the sector's middle half▼ 16.2%€0.01mbelow the sector's middle half-€0.1mbelow the sector's middle half€184below the sector's middle half€0.06mwithin the sector's middle half▲ 330×€0.08mwithin the sector's middle half▲ 35.0%
Total assets€0.1m-€0.07m▼ 35.1%€0.07mbelow the sector's middle half▼ 2.9%€0.2mwithin the sector's middle half▲ 212%€0.09mbelow the sector's middle half▼ 60.4%€0.2mwithin the sector's middle half▲ 114%€0.2mwithin the sector's middle half▲ 19.3%€1.1mabove the sector's middle half▲ 381%
Debt€0.2m-€0.2m▼ 2.4%€0.2m▲ 7.2%€0.2m▲ 24.6%€0.2m▲ 0.6%€0.2m▼ 10.2%€0.2m▼ 13.1%€1.0m▲ 510%
Working capital-€0.1m--€0.1m▼ 21.3%-€0.1mbelow the sector's middle half▼ 0.4%-€0.04mwithin the sector's middle half▲ 70.3%-€0.2mbelow the sector's middle half▼ 283%€0.03mwithin the sector's middle half€0.09mwithin the sector's middle half▲ 185%-€0.1mbelow the sector's middle half
Solvency-41.6%--112.9%▼ 71.4pp-135.1%below the sector's middle half▼ 22.2pp6.2%below the sector's middle half▲ 141.3pp-138.1%below the sector's middle half▼ 144.3pp0.1%below the sector's middle half▲ 138.2pp27.2%within the sector's middle half▲ 27.1pp7.6%below the sector's middle half▼ 19.6pp
Current ratio0.26-0.08▼ 0.180.13below the sector's middle half▲ 0.060.79within the sector's middle half▲ 0.660.21below the sector's middle half▼ 0.581.24within the sector's middle half▲ 1.031.85within the sector's middle half▲ 0.610.80within the sector's middle half▼ 1.05
Return on assets (ROA)-13.0%--48.9%▼ 35.8pp-18.8%below the sector's middle half▲ 30.1pp15.4%above the sector's middle half▲ 34.2pp-153.8%below the sector's middle half▼ 169.2pp65.1%above the sector's middle half▲ 218.9pp27.5%above the sector's middle half▼ 37.6pp2.1%within the sector's middle half▼ 25.4pp
Staff (FTE)0.81▲ 25.0%1=1=0.8▼ 20.0%
above
within
below
The sector band is the middle half of the companies in Crop and animal production, hunting and related service activities (NACE 01). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 32% lower than in 2024 and the lowest since 2022. It is the second fall in a row.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.1m
Fixed assets
€550,140 ▲ 15×
Current assets
€521,599 ▲ 179%
Equity and liabilities €1.1m
Equity
€81,899 ▲ 35.0%
Debt
€989,840 ▲ 510%
Debt's share of the balance-sheet total rises from 72.8% to 92.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€69,486▼
2024 · €72,173
Cash flow
€48,601▼
2024 · €70,583
Debt to equity
12.09▲
2024 · 2.67
ROE
26.9%▼
2024 · 101.0%
Interest coverage
4.12▼
2024 · 29.76
Debt ≤ 1 year
€648,553▲
2024 · €100,813
Debt > 1 year
€341,288▲
2024 · €61,500
Income taxes
€5,164
Staff costs
€30,667▲
2024 · €29,174
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 2 | 1 | 1 | 1 | - |
| full-time | 1 | - | 0 | 0 | - |
| part-time | 1 | 1 | 1 | 1 | - |
| in full-time equivalents | 1.2 | 0.2 | 0.2 | 0.2 | - |
| Average over the year, in full-time equivalents | 0.5 | 0.6 | 0.5 | 0.8 | 0.8 |
| On a permanent contract | 2 | 1 | 1 | 1 | - |
| Joined | 24 | 53 | 42 | 50 | 46 |
| Left | 22 | 54 | 42 | 50 | 46 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €22,196 | €2,961 | €2,462 | €14,046 | €540,437 |
| Financial fixed assets | - | - | - | - | €0 |
| Depreciation and write-downs of the year | €14,110 | €16,526 | €13,735 | €9,279 | €26,557 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2025 · 4 entries · €39,936 awarded · €39,936 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €12,552 | €12,552 |
| 2024 | 1 | €10,411 | €10,411 |
| 2023 | 1 | €8,608 | €8,608 |
| 2022 | 1 | €8,365 | €8,365 |
Schemes
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | - | €216,874 | - | - | - | - |
| Non-recurring operating income76A | - | - | - | €13,000 | €2,107 | €0 | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | €323,382 | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €15,535 | €17,813 | €18,772 | €29,174 | €30,667 | ▲ 5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €20,846 | €15,397 | €13,073 | €14,110 | €16,526 | €13,735 | €9,279 | €26,557 | ▲ 186% |
| Other operating charges640/8 | - | - | - | €337 | €688 | €919 | €551 | €1,105 | ▲ 100% |
| Gross operating margin9900 | €3,945 | -€18,672 | €718 | €68,828 | -€96,013 | €160,971 | €101,898 | €101,258 | ▼ 0.6% |
| Operating profit (loss)9901 | -€18,288 | -€35,276 | -€12,980 | €38,846 | -€131,041 | €127,545 | €62,894 | €42,929 | ▼ 31.7% |
| Financial income75/76B | - | - | - | €35 | €29 | €17 | €836 | €1,154 | ▲ 38.1% |
| Recurring financial income75 | €68 | €7 | - | €35 | €29 | €17 | €836 | €1,154 | ▲ 38.1% |
| Financial charges65/66B | - | - | - | €4,872 | €3,376 | €5,873 | €2,426 | €16,874 | ▲ 596% |
| Recurring financial charges65 | €157 | €126 | €198 | €4,872 | €3,376 | €5,873 | €2,426 | €16,874 | ▲ 596% |
| Profit (loss) for the period before taxes9903 | -€14,473 | -€35,396 | -€13,178 | €34,010 | -€134,387 | €121,689 | €61,304 | €27,208 | ▼ 55.6% |
| Income taxes67/77 | €114 | €117 | €85 | - | - | - | - | €5,164 | - |
| Profit (loss) for the period9904 | -€14,587 | -€35,512 | -€13,263 | €34,010 | -€134,387 | €121,689 | €61,304 | €22,044 | ▼ 64.0% |
| Profit (loss) for the period to be appropriated9905 | -€14,587 | -€35,512 | -€13,263 | €34,010 | -€134,387 | €121,689 | €61,304 | €22,044 | ▼ 64.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.1m | €0.07m | €0.07m | €0.2m | €0.09m | €0.2m | €0.2m | €1.1m | ▲ 381% |
| Fixed assets21/28 | €0.07m | €0.06m | €0.05m | €0.06m | €0.04m | €0.03m | €0.04m | €0.6m | ▲ 15× |
| Tangible fixed assets22/27 | €0.06m | €0.05m | €0.04m | €0.05m | €0.04m | €0.02m | €0.03m | €0.5m | ▲ 18× |
| Land and buildings22 | - | - | - | €0.02m | €0.01m | €0.004m | €0.003m | €0.4m | ▲ 119× |
| Plant, machinery and equipment23 | - | - | - | €0.01m | €0.01m | €0.009m | €0.01m | €0.01m | ▼ 26.8% |
| Furniture and vehicles24 | - | - | - | €0.02m | €0.02m | €0.01m | €0.01m | €0.1m | ▲ 11× |
| Leasing and similar rights25 | - | - | - | - | - | - | - | €0.01m | - |
| Financial fixed assets28 | €0.007m | €0.007m | €0.007m | €0.007m | €0.007m | €0.007m | €0.007m | €0.007m | = |
| Current assets29/58 | €0.04m | €0.01m | €0.02m | €0.2m | €0.04m | €0.2m | €0.2m | €0.5m | ▲ 179% |
| Stocks and contracts in progress3 | - | - | - | - | €0.003m | €0.05m | €0.009m | €0 | ▼ 100% |
| Stocks30/36 | - | - | - | - | €0.003m | €0.05m | €0.009m | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €0.001m | €0.001m | €0.01m | €0.02m | €0.02m | €0.03m | €0.02m | €0.4m | ▲ 16× |
| Trade receivables40 | - | - | - | €0.02m | €0.009m | €0.01m | €0.01m | €0.4m | ▲ 28× |
| Other amounts receivable41 | - | - | - | €0.001m | €0.01m | €0.02m | €0.01m | €0.04m | ▲ 234% |
| Cash at bank and in hand54/58 | €0.04m | €0.01m | €0.01m | €0.1m | €0.02m | €0.08m | €0.2m | €0.1m | ▼ 16.2% |
| Deferred charges and accrued income490/1 | - | - | - | €0.001m | €0.001m | €452 | €0.003m | €0.005m | ▲ 69.1% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.1m | €0.07m | €0.07m | €0.2m | €0.09m | €0.2m | €0.2m | €1.1m | ▲ 381% |
| Equity10/15 | -€0.05m | -€0.08m | -€0.1m | €0.01m | -€0.1m | €184 | €0.06m | €0.08m | ▲ 35.0% |
| Contributions10/11 | €0.2m | €0.2m | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Reserves13 | €0.04m | €0.04m | €0.04m | €0.04m | €0.04m | €0.04m | €0.07m | €0.09m | ▲ 30.2% |
| Non-distributable reserves130/1 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves not available under the articles1311 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Distributable reserves133 | - | - | - | €0.02m | €0.02m | €0.02m | €0.05m | €0.07m | ▲ 40.9% |
| Profit (loss) carried forward14 | -€0.3m | -€0.3m | -€0.3m | -€0.3m | -€0.4m | -€0.3m | -€0.3m | -€0.3m | ▲ 0.5% |
| Amounts payable17/49 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €1.0m | ▲ 510% |
| Amounts payable after more than one year17 | - | - | - | - | - | €0.06m | €0.06m | €0.3m | ▲ 455% |
| Financial debts170/4 | - | - | - | - | - | €0.06m | €0.06m | €0.3m | ▲ 455% |
| Amounts payable within one year42/48 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.1m | €0.1m | €0.6m | ▲ 543% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | - | - | - | €0.04m | - |
| Trade debts44 | €0.007m | €0.002m | €0.008m | €0.09m | €0.1m | €0.04m | €0.03m | €0.2m | ▲ 429% |
| Suppliers440/4 | - | - | - | €0.09m | €0.1m | €0.04m | €0.03m | €0.2m | ▲ 429% |
| Taxes, remuneration and social security45 | - | - | - | €0.02m | €0.006m | €0.007m | €0.005m | €0.01m | ▲ 127% |
| Taxes450/3 | - | - | - | €0.009m | €0.003m | €0.001m | €0 | €0.003m | - |
| Remuneration and social security454/9 | - | - | - | €0.008m | €0.003m | €0.005m | €0.005m | €0.008m | ▲ 58.3% |
| Other amounts payable47/48 | - | - | - | €0.1m | €0.08m | €0.07m | €0.06m | €0.4m | ▲ 573% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€14,587 | -€35,512 | -€13,263 | €34,010 | -€134,387 | €121,689 | €61,304 | €22,044 | ▼ 64.0% |
| + Depreciation and write-downs630 | €20,846 | €15,397 | €13,073 | €14,110 | €16,526 | €13,735 | €9,279 | €26,557 | ▲ 186% |
| Operating cash flow (approximation) | €6,259 | -€20,115 | -€190 | €48,119 | -€117,861 | €135,424 | €70,583 | €48,601 | ▼ 31.1% |
| Investment in fixed assets (approximation) | - | -€4,988 | -€428 | -€22,196 | -€2,961 | -€2,462 | -€14,046 | -€540,437 | ▼ 3,747% |
| Change in cash | - | -€29,938 | €2,082 | €127,590 | -€121,977 | €60,279 | €73,479 | -€24,509 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 1,375 companies had the same profile as MARX FRUIT has now. Two years later, 95.9% were still going and 2.2% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency under 10%
- a profit under 5% of the balance sheet
95.9%
was still going
1.6%
stopped otherwise
2.2%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of MARX FRUIT itself is lower: 0.1% within 12 months. It rests on far more data about MARX FRUIT than the profile alone.
Test of the method
The method was tested on the 497,446 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.
| 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 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
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 1,375 companies, not a prediction for MARX FRUIT. 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.
Latest 10 of 17 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 24-07-2026 | 2026-00332107 | |
| 31-12-2024 | micro format | 03-02-2025 | 2025-00023656 | |
| 31-12-2023 | micro format | 10-06-2024 | 2024-00118489 | |
| 31-12-2022 | micro format | 30-06-2023 | 2023-00189789 | |
| 31-12-2021 | micro format | 28-06-2022 | 2022-20122141 | |
| 31-12-2020 | micro format | 08-07-2021 | 2021-33100320 | |
| 31-12-2019 | micro format | 01-07-2020 | 2020-24800170 | |
| 31-12-2018 | micro format | 29-08-2019 | 2019-63300138 | |
| 31-12-2017 | micro format | 31-08-2018 | 2018-61600174 | |
| 31-12-2016 | micro format | 28-08-2017 | 2017-49900130 |