SOLMAR
ActiveSummary
SOLMAR has been active since 1993 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.3m and a net result of €395,817. Equity is growing by about 22% per year across the filed financial years. Its solvency ranks better than 60% of 173 sector peers (NACE 79, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
- Staff
- ≈ 4.2 FTE, estimated
- Equity
- €1.3m
- Profit
- €395,817
Why 96lowers riskSize: total assets €3.6mFigures for financial year 2025 (filed 02-07-2026)Founded in 1993Liquidity: current ratio 1.59, cash €942,733Show the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 79, small): better than 61% on solvency, 56% on liquidity, 84% on profitability and 84% on growth.
The bankruptcy probability was computed on 28-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 10 days before the deadline; the sector median (NACE 79) for financial year 2024 is 7 days before the deadline, and 35% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · full…
- Highest result from 2018 to 2025net €395,817 ▲149%
- Equity above €1mequity €1.3m ▲45%
Financials · financial year 2025, full format
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result recovers in 2025; 2025 is 159% above 2024 and is the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Average staff in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 79, Travel agency, tour operator and other reservation service and related activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
- 2025 Net result +149% on 2024. The accounts now follow the full format, last year the abbreviated format.
Peer companies
Historical observationOf the 20,136 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95.0% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
For this company itself Checked computes a bankruptcy probability of < 0.1% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 20,136 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | - | €17,800 | - |
| Remuneration, social security and pensions62 | - | - | - | €107,953 | €199,735 | €252,001 | €248,443 | €253,521 | ▲ 2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €19,021 | €65,046 | €49,274 | €35,372 | €32,582 | €27,308 | €42,773 | €54,294 | ▲ 26.9% |
| Other operating charges640/8 | - | - | - | €2,730 | €1,980 | €2,405 | €3,884 | €7,687 | ▲ 97.9% |
| Gross operating margin9900 | €348,021 | €554,177 | -€484,062 | -€159,414 | €630,375 | €664,762 | €501,801 | €849,882 | ▲ 69.4% |
| Operating profit (loss)9901 | €84,477 | €164,253 | -€671,928 | -€305,470 | €396,079 | €383,048 | €206,701 | €534,380 | ▲ 159% |
| Financial income75/76B | - | - | - | €133,001 | €2,954 | €8,248 | €26,446 | €72,060 | ▲ 172% |
| Recurring financial income75 | €744 | €421 | €4,319 | €4 | €193 | €7,513 | €26,446 | €68,436 | ▲ 159% |
| Non-recurring financial income76B | - | - | - | €132,997 | €2,760 | €735 | - | €3,625 | - |
| Financial charges65/66B | - | - | - | €4,207 | €15,455 | €9,333 | €12,082 | €42,324 | ▲ 250% |
| Recurring financial charges65 | €3,309 | €3,042 | €3,181 | €4,207 | €10,019 | €9,333 | €12,082 | €32,759 | ▲ 171% |
| Non-recurring financial charges66B | - | - | - | - | €5,436 | - | - | €9,565 | - |
| Profit (loss) for the period before taxes9903 | €81,001 | €169,585 | -€631,420 | -€176,676 | €383,578 | €381,963 | €221,066 | €564,117 | ▲ 155% |
| Income taxes67/77 | €20,120 | €2,573 | €5,276 | €1,944 | €67,296 | €73,075 | €62,312 | €168,300 | ▲ 170% |
| Profit (loss) for the period9904 | €60,881 | €167,012 | -€636,696 | -€178,620 | €316,282 | €308,888 | €158,754 | €395,817 | ▲ 149% |
| Profit (loss) for the period to be appropriated9905 | €60,881 | €167,012 | -€636,696 | -€178,620 | €316,282 | €308,888 | €158,754 | €395,817 | ▲ 149% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €2.2m | €2.5m | €2.4m | €2.8m | €2.6m | €2.8m | €2.9m | €3.6m | ▲ 22.4% |
| Fixed assets21/28 | €0.06m | €0.1m | €0.1m | €0.1m | €0.1m | €0.2m | €0.2m | €0.6m | ▲ 194% |
| Intangible fixed assets21 | €0.01m | €0.009m | €0.01m | €0.01m | €0.008m | €0.005m | €0.01m | €0.02m | ▲ 122% |
| Tangible fixed assets22/27 | €0.05m | €0.1m | €0.1m | €0.1m | €0.1m | €0.2m | €0.2m | €0.6m | ▲ 199% |
| Land and buildings22 | - | - | - | - | €0.06m | €0.05m | €0.09m | €0.5m | ▲ 396% |
| Plant, machinery and equipment23 | - | - | - | €0.002m | €0 | €0.002m | €0.002m | €0.01m | ▲ 372% |
| Furniture and vehicles24 | - | - | - | €0.03m | €0.02m | €0.1m | €0.09m | €0.09m | ▲ 6.0% |
| Leasing and similar rights25 | - | - | - | €0.02m | €0.01m | €0.007m | €0.003m | €0 | ▼ 100% |
| Other tangible fixed assets26 | - | - | - | €0.06m | €0.006m | €0.005m | €0.005m | €0.005m | ▼ 4.0% |
| Financial fixed assets28 | - | - | €200 | €350 | €375 | €375 | €375 | - | - |
| Current assets29/58 | €2.1m | €2.3m | €2.3m | €2.7m | €2.5m | €2.6m | €2.7m | €3.0m | ▲ 10.0% |
| Amounts receivable after more than one year29 | - | - | - | - | €0.01m | - | €0.1m | €0.2m | ▲ 83.2% |
| Other amounts receivable291 | - | - | - | - | €0.01m | - | €0.1m | €0.2m | ▲ 83.2% |
| Amounts receivable within one year40/41 | €0.2m | €0.7m | €0.1m | €0.5m | €0.6m | €0.6m | €0.7m | €0.5m | ▼ 30.3% |
| Trade receivables40 | - | - | - | €0.4m | €0.5m | €0.5m | €0.6m | €0.5m | ▼ 21.6% |
| Other amounts receivable41 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.04m | ▼ 68.0% |
| Current investments50/53 | - | €0.4m | €0.4m | €0.4m | €0.9m | €1.2m | €0.8m | €1.3m | ▲ 72.1% |
| Cash at bank and in hand54/58 | €1.9m | €1.2m | €1.8m | €1.8m | €1.0m | €0.8m | €1.1m | €0.9m | ▼ 17.5% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | €0 | €0.004m | €0.05m | ▲ 12× |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €2.2m | €2.5m | €2.4m | €2.8m | €2.6m | €2.8m | €2.9m | €3.6m | ▲ 22.4% |
| Equity10/15 | €0.7m | €0.9m | €0.3m | €0.1m | €0.4m | €0.7m | €0.9m | €1.3m | ▲ 45.0% |
| Contributions10/11 | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | = |
| Capital10 | - | - | - | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | = |
| Issued capital100 | - | - | - | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | = |
| Contributions outside capital11 | - | - | - | €150 | €150 | €150 | €150 | €150 | = |
| Share premium1100/10 | - | - | - | €150 | €150 | €150 | €150 | €150 | = |
| Reserves13 | €0.7m | €0.8m | €0.2m | €0.02m | €0.3m | €0.6m | €0.8m | €1.2m | ▲ 49.1% |
| Non-distributable reserves130/1 | - | - | - | €0.007m | €0.007m | €0.007m | €0.007m | €0.007m | = |
| Legal reserve130 | - | - | - | €0.007m | €0.007m | €0.007m | €0.007m | €0.007m | = |
| Distributable reserves133 | - | - | - | €0.01m | €0.3m | €0.6m | €0.8m | €1.2m | ▲ 49.6% |
| Amounts payable17/49 | €1.4m | €1.5m | €2.1m | €2.7m | €2.2m | €2.1m | €2.0m | €2.3m | ▲ 12.7% |
| Amounts payable after more than one year17 | €0.04m | €0.007m | €0.01m | €0.7m | €0.6m | €0.4m | €0.1m | €0.3m | ▲ 119% |
| Financial debts170/4 | - | - | - | €0.3m | €0.2m | €0.2m | €0.1m | €0.3m | ▲ 119% |
| Other amounts payable178/9 | - | - | - | €0.4m | €0.4m | €0.2m | - | - | - |
| Amounts payable within one year42/48 | €1.1m | €1.2m | €2.1m | €1.8m | €1.5m | €1.6m | €1.9m | €1.9m | = |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.08m | €0.08m | €0.1m | €0.1m | €0.1m | ▲ 10.7% |
| Financial debts43 | - | - | - | - | - | - | €0.08m | €0.1m | ▲ 19.1% |
| Credit institutions430/8 | - | - | - | - | - | - | €0.08m | €0.1m | ▲ 19.1% |
| Trade debts44 | €0.07m | - | €1.5m | €0.06m | €0.1m | €0.2m | €0.2m | €0.2m | ▼ 32.2% |
| Suppliers440/4 | - | - | - | €0.06m | €0.1m | €0.2m | €0.2m | €0.2m | ▼ 32.2% |
| Advances received on contracts in progress46 | - | - | - | €1.6m | €1.2m | €1.3m | €1.4m | €1.4m | ▼ 0.3% |
| Taxes, remuneration and social security45 | - | - | - | €0.02m | €0.05m | €0.05m | €0.03m | €0.08m | ▲ 221% |
| Taxes450/3 | - | - | - | €0.001m | €0.03m | €0.03m | €0.003m | €0.05m | ▲ 14× |
| Remuneration and social security454/9 | - | - | - | €0.01m | €0.02m | €0.02m | €0.02m | €0.04m | ▲ 63.1% |
| Accrued charges and deferred income492/3 | - | - | - | €0.3m | €0.07m | €0.07m | €0.04m | €0.1m | ▲ 306% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €60,881 | €167,012 | -€636,696 | -€178,620 | €316,282 | €308,888 | €158,754 | €395,817 | ▲ 149% |
| + Depreciation and write-downs630 | €19,021 | €65,046 | €49,274 | €35,372 | €32,582 | €27,308 | €42,773 | €54,294 | ▲ 26.9% |
| Operating cash flow (approximation) | €79,902 | €232,058 | -€587,422 | -€143,247 | €348,864 | €336,195 | €201,527 | €450,111 | ▲ 123% |
| Investment in fixed assets (approximation) | - | -€137,204 | -€49,731 | -€16,605 | -€20,887 | -€88,188 | -€74,356 | -€438,278 | ▼ 489% |
| Change in cash | - | -€659,789 | €540,781 | €30,260 | -€812,047 | -€183,610 | €343,645 | -€199,959 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 33 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 02-07-2026 | 2026-00265245 |
| 31-12-2024 | abbreviated format | 30-06-2025 | 2025-00195012 |
| 31-12-2023 | abbreviated format | 14-06-2024 | 2024-00129567 |
| 31-12-2022 | abbreviated format | 09-06-2023 | 2023-00120048 |
| 31-12-2021 | abbreviated format | 30-06-2022 | 2022-20120834 |
| 31-12-2020 | abbreviated format | 31-08-2021 | 2021-58600056 |
| 31-12-2019 | abbreviated format | 30-10-2020 | 2020-64900114 |
| 31-12-2018 | abbreviated format | 31-08-2019 | 2019-63700237 |
| 31-12-2017 | abbreviated format | 31-08-2018 | 2018-55500399 |
| 31-12-2016 | abbreviated format | 30-08-2017 | 2017-50400183 |
Similar companies · same sector, comparable size
Subsidies and aid
Flemish government
2022 to 2024 · 5 entries · €48,264 awarded · €48,264 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2024 | 1 | €2,085 | €3,885 |
| 2023 | 1 | €3,801 | €2,001 |
| 2022 | 3 | €42,378 | €42,378 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Owners and capital
Owners
1 ownerOwners 1
- Morena Vetrugnonatural personSourceown accounts 2025100%
According to the 2025 annual accounts of SOLMAR and those of the other companies, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not include these statements in its annual accounts, or does not have to, is not listed.
Capital and shareholders
- 17-12-2024 Capital stated in the deed · €74,368 · 412 shares
Group and network
Connections & network
No directors read yet: 1 of 6 Gazette acts processed.
History
Acts, filings and financial milestones
17-12
Gazette deed
Amendment of the articlesCapital · Registered office clause · Power of attorney5 facts ▸
- General meeting, 06-12-2024
- Amendment of the articles (2 times)
- Capital, €74,368
- Registered office clause, “3630 Maasmechelen,Pauwengraaf 20” (deed in Dutch)
- Power of attorney
Show earlier events
About the unread acts
Of the 6 Belgian Official Gazette deeds we know for this company, 1 has been read. The other 5 have not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits
Source: Omgevingsloket Vlaanderen. Flanders only: Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 73013D0823/00A000 | Flanders | 219 m² | 1 · 140 m² | 10.5 m · 3 |
How the parcels are linked
Articles of association
What the company does
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- SOLMAR
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaams Gewest, mag,bij enkel besluit van het bestuursorgaan,administratieve zetels,agentschappen,werkhuizen,stapelplaatsen en bijkantoren…” (deed in Dutch)
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “Raad van bestuur, collegiaal, minimum door wet voorgeschreven” (deed in Dutch)
Capital, shares and profit
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- One provision in the deed
- Authorised capitalThe amount by which the board may raise capital without a new shareholder decision.
- “Bevoegdheid kan worden verleend, in één of meer malen het kapitaal te verhogen,op data en tegen voorwaarden die het bestuursorgaan zal…” (deed in Dutch)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Last Wednesday of May at 19:00
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Beraadslaagt zoals inzake statutenwijziging, besluit van de algemene vergadering” (deed in Dutch)“Vormen vereist voor statutenwijziging, algemene vergadering” (deed in Dutch)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Een of meer vereffenaars, om welke reden en op welk ogenblik ook” (deed in Dutch)“Na aanzuivering schulden,lasten,kosten of consignatie nodige gelden, netto-actief in geld of effecten naar verhouding aantal aandelen” (deed in Dutch)1 more provision on this in the deed