MARENA
ActiveThe computed 12-month bankruptcy probability of MARENA is 3.1% (moderate). The 2025 annual accounts show negative equity (€-62k) and a net result of €-115k. Equity is shrinking by ~18.8% per year across the filed fiscal years. Its solvency ranks better than 5% of 3616 sector peers (fiscal year 2025). The company has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
7
/ 100
Critical▼ -30 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100▲+100
Solvency33▼-12
Growth32=
Stability100
Bankruptcy probability, 12 months
3.1%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.33 against 1.21 in 2024), and equity is negative.
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 56
Relative position
BE, all sectors
reference
Sector 56
higher
← 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
-207.6%
Return on assets
-385.8%
Age of the figures
18 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 · Negative equity
Equity is negative for financial year 2025: liabilities exceed assets. This is the trigger point of the alarm-bell procedure (Belgian CAC).
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year -€62k
neutral · Filed after the deadline
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 27-11-2025, 27 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
27 d late
2024
on the day
2023
51 d late
2022
30 d late
2021
4 d late
2020
17 d late
2019
57 d late
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close15-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€-62k
2024 · €53k
2019: €74k
2020: €96k
2021: €35k
2022: €57k
2023: €57k
2024: €53k
2019 → 2025
Total assets
€30k▼ 85.1%
2024 · €200k
2019: €264k
2020: €273k
2021: €169k
2022: €198k
2023: €222k
2024: €200k
2019 → 2025
Net result
€-115k▼ 3,256%
2024 · €-3k
2019: €17k
2020: €21k
2021: €-60k
2022: €21k
2023: €-247
2024: €-3k
2019 → 2025
Working capital
€-62k
2024 · €31k
2019: €53k
2020: €80k
2021: €-10k
2022: €16k
2023: €28k
2024: €31k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€35k-€57k▲ 60.5%€57k▼ 0.4%€53k▼ 6.1%€-62k
Operating result€-58k-€26k€4k▼ 84.0%€-36k€-104k▼ 188%
Net result€-60k-€21k€-247€-3k▼ 1,285%€-115k▼ 3,256%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €104k in 2025 against €36k in 2024; the loss grows and 2025 is the lowest year so far.
Key figures and ratios
EBITDA
€-104k▼
2024 · €-26k
Cash flow
€-115k▼
2024 · €6k
Solvency
-207.6%▼
2024 · 26.5%
Current ratio
0.33▼
2024 · 1.21
Quick ratio
0.33▼
2024 · 1.09
Debt / equity
-1.48▼
2024 · 2.77
ROE
185.9%▲
2024 · -6.5%
ROA
-385.8%▼
2024 · -1.7%
Interest coverage
-7.69▼
2024 · -2.57
Debt
€92k▼
2024 · €147k
Debt ≤ 1 year
€92k▼
2024 · €147k
Income taxes
€430▲
2024 · €47
Staff costs
€373k▼
2024 · €445k
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
Assets
Total assets20/58€200k€30k▼
Fixed assets21/28€22k€0▼
Tangible fixed assets22/27€22k€0▼
Plant, machinery and equipment23€4k€0▼
Furniture and vehicles24€7k€0▼
Other tangible fixed assets26€11k€0▼
Current assets29/58€178k€30k▼
Stocks and contracts in progress3€18k€0▼
Stocks30/36€18k€0▼
Amounts receivable within one year40/41€60k€17k▼
Trade receivables40€0€17k▲
Other amounts receivable41€60k€40▼
Cash at bank and in hand54/58€99k€13k▼
Deferred charges and accrued income490/1€2k€223▼
Equity and liabilities
Total equity and liabilities10/49€200k€30k▼
Equity10/15€53k€-62k▼
Contributions10/11€94k€94k=
Profit (loss) carried forward14€-40k€-155k▼
Amounts payable17/49€147k€92k▼
Amounts payable within one year42/48€147k€92k▼
Current portion of amounts payable after more than one year42€0-
Trade debts44€116k€22k▼
Suppliers440/4€116k€21k▼
Bills of exchange payable441-€826
Taxes, remuneration and social security45€25k€20k▼
Taxes450/3€11k€1k▼
Remuneration and social security454/9€14k€19k▲
Other amounts payable47/48€6k€50k▲
Income statement
Code20242025
Remuneration, social security and pensions62€445k€373k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€10k€0▼
Other operating charges640/8€19k€18k▼
Non-recurring operating charges66A-€4k
Gross operating margin9900€437k€292k▼
Operating profit (loss)9901€-36k€-104k▼
Financial income75/76B€43k€3k▼
Recurring financial income75€43k€3k▼
Financial charges65/66B€10k€13k▲
Recurring financial charges65€10k€13k▲
Profit (loss) for the period before taxes9903€-3k€-115k▼
Income taxes67/77€47€430▲
Profit (loss) for the period9904€-3k€-115k▼
Profit (loss) for the period to be appropriated9905€-3k€-115k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-40k€-155k▼
Profit (loss) brought forward from the previous period14P€-37k€-40k▼
Social balance
Average headcount (FTE)908711.412.7▲
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2025
27-11
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 27 days late
31-03
Financial
Weakest financial yearnet €-115k
Net result drops to €-115k, the lowest in the series.
2024
31-10
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2023
21-12
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 51 days late
2022
30-11
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 30 days late
31-03
Financial
Back to profitnet €21k
Net result €21k after one loss-making year.
2021
04-11
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 4 days late
2020
17-11
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 17 days late
2019
27-12
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 57 days late
2018
26-11
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 26 days late
2017
29-09
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
29-09
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
no sitting director, no change since 2023
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
20-12-2023
EIMERS Collin Johannes Cornelis: Resigned as Director
30-06-2013
Mike Boonen: Resigned as Manager
Location & real-estate footprint
Registered office, Stekene · 1 establishment unit since 2007
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Bosdorp(STE) 159190 StekeneGround area
416 m²
Building footprint
114 m²
Volume, LiDAR
776 m³
Parcel 46024B0249/00X000, Flanders · tallest building 11.6 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Marena
since 20072.164.914.492
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46024B0249/00X000 | Flanders | 416 m² | 1 · 114 m² | 11.6 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2023 to 2025 · 3 entries · 2,500 EUR awarded · 2,500 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 1,000 EUR | 1,000 EUR |
| 2024 | 1 | 1,000 EUR | 1,000 EUR |
| 2023 | 1 | 500 EUR | 500 EUR |
Schemes
Premie kwalificerend werkplekleren
Stagebonus (stopgezet)
Recognitions · licences · registrations
Dual-learning approval
1 live approval · 5 endedRestaurant en keuken duaal (so)
Similar companies · same sector, comparable size
Baron Casier
BE 0669.727.887
Waregem · Eq €53k
RESTAURANT CHEZ MARINKO RUPCIC
BE 0806.409.597
Liège · Eq €53k
QS EXPLOITATION
BE 0767.930.786
La Roche-en-Ardenne · Eq €53k
FIRDAUS AZAD
BE 0764.956.153
Leuven · Eq €53k
HEMELAER
BE 0420.644.953
Leuven · Eq €53k
Of 20,231 companies in sector 56111 we hold annual accounts for 11,313. 9,715 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded15-06-2007
Fiscal year end31-03
Activities, NACEBEL
55301
56101Full-service restaurants
56111Full-service restaurants
55522
56210Event catering
Sources
Crossroads Bank for EnterprisesNational Bank · 17 filingsAddress and cadastre registers
Data from official sources, last processed on 14-09-2026. Scores and ratios are computed by Checked and are not a credit decision.