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MARZO

Active
Private limited companyfounded 20224 yrs activeRue d'Arville(WD) 94, 5100 Namur, BelgiumKBO/BCE: BE 0781.459.120
Summary

The computed 12-month bankruptcy probability of MARZO is 2.5% (moderate). The 2024 annual accounts show negative equity (-€29,579) and a net result of -€20,290. Equity remains stable across the filed fiscal years (±1.3% per year). Its solvency ranks better than 26% of 1856 sector peers (fiscal year 2024). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.

Checked score

Score 2024
Axes · tick = 2023
Profitability19▼-61
Solvency20▼-1
Growth78=
Track record94
Bankruptcy probability, 12 months
2.5% Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.08 against 0.14 in 2023; short-term debt: 36.7% and cash: 0.8% of total assets), and equity is negative.
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Signals

Six signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 4 years 0 10 y
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 2024
Solvency, return and age of the figures
Solvency
-5.2%
Return on assets
-3.6%
Age of the figures
21 mo
raises risk · Higher-failure-rate region
In this region companies fail more often than in the rest of the country.
KBO · registered office
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 55
Relative position
BE, all sectors
reference
Accommodation (NACE 55)
about 6% more bankruptcies
← fewer bankruptcies more bankruptcies →
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024
Equity per financial year
222324
2022 to 2024 · latest year -€29,579
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-09-2025, 61 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 · 3 filings
Deviation from the deadline
2025
not confirmed
2024
61 d late
2023
31 d late
2022
66 d late
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 3 accounts on average 53 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 45% of the sector filed late.

Checked, nothing found (1)
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

MARZO was incorporated on 1 February 2022 as a Private limited company.1 Total assets rose from EUR 118,851 in 2022 to EUR 565,583 in 2024.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2022 and 2024

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Financials · fiscal year 2024, micro schema

Equity
-€29,579▼ 218%
2023 · -€9,289
Total assets
€565,583▲ 149%
2023 · €227,064
Net result
-€20,290
2023 · €21,030
Working capital
-€191,019▼ 106%
2023 · -€92,867
Trend over the years

Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 55, Accommodation, each year against the same schema; no band under 30 filings. Dashed line: the median.

Every figure with its change against the fiscal year before
favourable unfavourable
Line202220232024
Operating result-€36,994-€24,974-€9,914
Net result-€40,319below the sector's middle half-€21,030within the sector's middle half-€20,290below the sector's middle half
Equity-€30,319below the sector's middle half--€9,289within the sector's middle half▲ 69.4%-€29,579below the sector's middle half▼ 218%
Total assets€118,851below the sector's middle half-€227,064within the sector's middle half▲ 91.0%€565,583within the sector's middle half▲ 149%
Debt€149,170-€236,353▲ 58.4%€595,162▲ 152%
Working capital-€58,882within the sector's middle half--€92,867within the sector's middle half▼ 57.7%-€191,019below the sector's middle half▼ 106%
Solvency-25.5%below the sector's middle half--4.1%within the sector's middle half▲ 21.4pp-5.2%within the sector's middle half▼ 1.1pp
Current ratio0.19below the sector's middle half-0.14below the sector's middle half▼ 0.050.08below the sector's middle half▼ 0.06
Return on assets (ROA)-33.9%below the sector's middle half-9.3%above the sector's middle half▲ 43.2pp-3.6%within the sector's middle half▼ 12.8pp
above within below the middle half (P25 to P75) of NACE 55, Accommodation, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
-€60,000-€40,000-€20,000€0€20,000Operating result 2022: -€36,994-€36,994Net result 2022: -€40,319-€40,319Operating result 2023: €24,974€24,974Net result 2023: €21,030€21,030Operating result 2024: -€9,914-€9,914Net result 2024: -€20,290-€20,290202220232024-€60,000-€40,000-€20,000€0€20,000Operating result 2022: -€36,994-€37,000Net result 2022: -€40,319-€40,300Operating result 2023: €24,974€25,000Net result 2023: €21,030€21,000Operating result 2024: -€9,914-€9,910Net result 2024: -€20,290-€20,300202220232024
The operating result turns negative in 2024: a loss of €9,914 after €24,974 in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €565,583
Fixed assets €549,160 ▲ 159%
Current assets €16,423 ▲ 7.4%
Key figures and ratios
2024 value · change against 2023
EBITDA
€6,288▼
2023 · €37,326
Cash flow
-€4,088▼
2023 · €33,382
Debt to equity
-20.12▲
2023 · -25.44
Interest coverage
0.60▼
2023 · 9.41
Debt ≤ 1 year
€207,442▲
2023 · €108,155
Debt > 1 year
€387,720▲
2023 · €128,198
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 1,251 companies that looked in July 2024 the way this one looks now, 1.0% went bankrupt within 24 months and 97% are still going.

  • Small
  • 2 to 5 years old
  • negative equity
  • a small loss
1.0% went bankrupt
2.2% stopped otherwise
97% still going

A further 0.2% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a higher bankruptcy probability: 2.5% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.

How reliable is this rule?

Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.

The companies in ten equal groups, from lowest to highest expected share.
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% 1.9%
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 1,251 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
Filed annual accounts As filed with the NBB · 2024 against 2023 · 39 lines
Balance sheet Code20232024
Assets
Total assets20/58€227,064€565,583▲
Fixed assets21/28€211,775€549,160▲
Tangible fixed assets22/27€211,775€549,160▲
Land and buildings22€195,207€523,871▲
Plant, machinery and equipment23€3,110€13,473▲
Furniture and vehicles24€13,459€11,816▼
Current assets29/58€15,288€16,423▲
Amounts receivable within one year40/41€5,020€10,744▲
Trade receivables40€3,250€2,668▼
Other amounts receivable41€1,770€8,076▲
Cash at bank and in hand54/58€9,824€4,638▼
Deferred charges and accrued income490/1€444€1,040▲
Equity and liabilities
Total equity and liabilities10/49€227,064€565,583▲
Equity10/15-€9,289-€29,579▼
Contributions10/11€10,000€10,000=
Profit (loss) carried forward14-€19,289-€39,579▼
Amounts payable17/49€236,353€595,162▲
Amounts payable after more than one year17€128,198€387,720▲
Financial debts170/4€128,198€387,720▲
Amounts payable within one year42/48€108,155€207,442▲
Current portion of amounts payable after more than one year42€8,614€23,428▲
Trade debts44€17,052€39,922▲
Suppliers440/4€17,052€39,922▲
Taxes, remuneration and social security45€589€1,404▲
Taxes450/3€589€1,404▲
Other amounts payable47/48€81,900€142,688▲
Income statement Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€12,352€16,202▲
Other operating charges640/8€673€661▼
Gross operating margin9900€38,000€6,949▼
Operating profit (loss)9901€24,974-€9,914▼
Financial income75/76B€23€30▲
Recurring financial income75€23€30▲
Financial charges65/66B€3,968€10,406▲
Recurring financial charges65€3,968€10,406▲
Profit (loss) for the period before taxes9903€21,030-€20,290▼
Profit (loss) for the period9904€21,030-€20,290▼
Profit (loss) for the period to be appropriated9905€21,030-€20,290▼
Appropriation of the result
Profit (loss) to be appropriated9906-€19,289-€39,579▼
Profit (loss) brought forward from the previous period14P-€40,319-€19,289▲

The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line202220232024Change
Remuneration, social security and pensions62€19,587---
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€16,944€12,352€16,202▲ 31.2%
Other operating charges640/8€6,528€673€661▼ 1.8%
Gross operating margin9900€6,064€38,000€6,949▼ 81.7%
Operating profit (loss)9901-€36,994€24,974-€9,914▼ 140%
Financial income75/76B-€23€30▲ 29.1%
Recurring financial income75-€23€30▲ 29.1%
Financial charges65/66B€3,324€3,968€10,406▲ 162%
Recurring financial charges65€3,324€3,968€10,406▲ 162%
Profit (loss) for the period before taxes9903-€40,319€21,030-€20,290▼ 196%
Profit (loss) for the period9904-€40,319€21,030-€20,290▼ 196%
Profit (loss) for the period to be appropriated9905-€40,319€21,030-€20,290▼ 196%
Line202220232024Change
Assets
Total assets20/58€118,851€227,064€565,583▲ 149%
Fixed assets21/28€104,967€211,775€549,160▲ 159%
Tangible fixed assets22/27€104,967€211,775€549,160▲ 159%
Land and buildings22€104,172€195,207€523,871▲ 168%
Plant, machinery and equipment23€451€3,110€13,473▲ 333%
Furniture and vehicles24€344€13,459€11,816▼ 12.2%
Current assets29/58€13,885€15,288€16,423▲ 7.4%
Amounts receivable within one year40/41€11,303€5,020€10,744▲ 114%
Trade receivables40€940€3,250€2,668▼ 17.9%
Other amounts receivable41€10,363€1,770€8,076▲ 356%
Cash at bank and in hand54/58€2,191€9,824€4,638▼ 52.8%
Deferred charges and accrued income490/1€390€444€1,040▲ 134%
Equity and liabilities
Total equity and liabilities10/49€118,851€227,064€565,583▲ 149%
Equity10/15-€30,319-€9,289-€29,579▼ 218%
Contributions10/11€10,000€10,000€10,000=
Capital10€10,000---
Issued capital100€10,000---
Profit (loss) carried forward14-€40,319-€19,289-€39,579▼ 105%
Amounts payable17/49€149,170€236,353€595,162▲ 152%
Amounts payable after more than one year17€76,403€128,198€387,720▲ 202%
Financial debts170/4€76,403€128,198€387,720▲ 202%
Amounts payable within one year42/48€72,767€108,155€207,442▲ 91.8%
Current portion of amounts payable after more than one year42€4,788€8,614€23,428▲ 172%
Trade debts44€19,782€17,052€39,922▲ 134%
Suppliers440/4€19,782€17,052€39,922▲ 134%
Advances received on contracts in progress46€250---
Taxes, remuneration and social security45€1,596€589€1,404▲ 138%
Taxes450/3€121€589€1,404▲ 138%
Remuneration and social security454/9€1,475---
Other amounts payable47/48€46,351€81,900€142,688▲ 74.2%
Line202220232024Change
Profit (loss) for the period9904-€40,319€21,030-€20,290▼ 196%
+ Depreciation and write-downs630€16,944€12,352€16,202▲ 31.2%
Operating cash flow (approximation)-€23,375€33,382-€4,088▼ 112%
Investment in fixed assets (approximation)--€119,161-€353,587▼ 197%
Change in cash-€7,633-€5,186▼ 168%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

2025
30-09
NBB filing Annual accounts filed
fiscal year 2024 · micro schema · 61 days late
2024
31-08
NBB filing Annual accounts filed
fiscal year 2023 · micro schema · 31 days late
2023
31-12
Financial Back to profitnet €21,030
Net result €21,030 after one loss-making year.
05-10
NBB filing Annual accounts filed
fiscal year 2022 · micro schema · 66 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
1 act for this company is 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, Namur · 1 establishment unit since 2022
seat establishment The establishment unit on the map
Ground area
1.0 ha
Building footprint
275 m²
Volume, LiDAR
2,217 m³
Parcel 92136B0508/00R000, Wallonia · tallest building 9.8 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Marzo
Rue d'Arville(WD) 94, 5100 NamurRaising of horses and other equines
since 20222.327.635.259
1 parcel
Wallonia 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
92136B0508/00R000 Wallonia 1.0 ha 1 · 275 m² 9.8 m · 3 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.

Similar companies · same sector and region

This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 1,854 companies in sector 55204 we hold annual accounts for 451. See the whole sector

Identification & contact

Identification
Legal formPrivate limited company
Founded01-02-2022
Fiscal year end31-12
Activities, NACEBEL 2025
55204Guest rooms (bed and breakfast)
Contact
E-mail estelle.ledarville@gmail.comNamur
E-invoicing
Reachable via Peppol
Peppol ID 0208:0781459120
Registered 07-01-2026

If you follow this company, Checked tells you the day it leaves the Peppol register.

Register as of 29 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.