MARO
ActiveMARO has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.81M and a net result of €124k. Equity is growing by ~6.5% per year across the filed fiscal years. Its solvency ranks better than 58% of 7692 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
66
/ 100
Healthy
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability73▼-2
Solvency76▼-14
Growth52=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €110k at 30 days acceptable
Liquidity ample (current ratio 2.04 against 2.78 in 2024; short-term debt: 48.8% and cash: 9.7% of total assets), and 48.8% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six 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 43
Relative position
BE, all sectors
reference
Sector 43
higher
← fewer bankruptcies
more bankruptcies →
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
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
51.2%
Return on assets
3.5%
Age of the figures
15 mo
neutral · Filed after the deadline
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 03-02-2026, 3 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
3 d late
2024
7 d late
2023
6 d late
2022
on the day
2021
14 d late
2020
12 d late
2019
42 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close18-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€1.81M▼ 20.0%
2024 · €2.26M
2019: €1.61M
2020: €1.81M
2021: €2.00M
2022: €2.19M
2023: €2.49M
2024: €2.26M
2019 → 2025
Total assets
€3.53M▲ 1.0%
2024 · €3.49M
2019: €2.65M
2020: €2.83M
2021: €3.37M
2022: €2.71M
2023: €3.45M
2024: €3.49M
2019 → 2025
Net result
€124k▼ 28.2%
2024 · €173k
2019: €247k
2020: €201k
2021: €194k
2022: €187k
2023: €299k
2024: €173k
2019 → 2025
Working capital
€1.79M▼ 18.2%
2024 · €2.19M
2019: €1.71M
2020: €1.84M
2021: €1.96M
2022: €2.15M
2023: €2.45M
2024: €2.19M
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€2.00M-€2.19M▲ 9.3%€2.49M▲ 13.6%€2.26M▼ 9.1%€1.81M▼ 20.0%
Operating result€230k-€284k▲ 23.4%€460k▲ 62.0%€270k▼ 41.3%€190k▼ 29.6%
Net result€194k-€187k▼ 3.6%€299k▲ 59.6%€173k▼ 42.0%€124k▼ 28.2%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 30% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.53M
Fixed assets
€16k▼ 77.4%
Current assets
€3.51M▲ 2.6%
Equity and liabilities €3.53M
Equity
€1.81M▼ 20.0%
Debt
€1.72M▲ 39.6%
The debt ratio rises from 35.3% to 48.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€208k▼
2024 · €302k
Cash flow
€142k▼
2024 · €205k
Solvency
51.2%▼
2024 · 64.7%
Current ratio
2.04▼
2024 · 2.78
Quick ratio
1.17▲
2024 · 0.97
Debt / equity
0.95▲
2024 · 0.55
ROE
6.9%▼
2024 · 7.7%
ROA
3.5%▼
2024 · 5.0%
Interest coverage
8.92▼
2024 · 12.56
Debt
€1.72M▲
2024 · €1.23M
Debt ≤ 1 year
€1.72M▲
2024 · €1.23M
Income taxes
€61k▼
2024 · €86k
Staff costs
€99k▼
2024 · €113k
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€3.49M€3.53M▲
Fixed assets21/28€70k€16k▼
Tangible fixed assets22/27€70k€16k▼
Land and buildings22€1k€678▼
Plant, machinery and equipment23€4k€2k▼
Furniture and vehicles24€65k€13k▼
Financial fixed assets28€250€250=
Current assets29/58€3.42M€3.51M▲
Amounts receivable after more than one year29€771k€811k▲
Trade receivables290€771k€811k▲
Stocks and contracts in progress3€2.23M€1.50M▼
Stocks30/36€2.23M€1.50M▼
Amounts receivable within one year40/41€367k€831k▲
Trade receivables40€202k€641k▲
Other amounts receivable41€164k€190k▲
Cash at bank and in hand54/58€42k€343k▲
Deferred charges and accrued income490/1€11k€28k▲
Equity and liabilities
Total equity and liabilities10/49€3.49M€3.53M▲
Equity10/15€2.26M€1.81M▼
Contributions10/11€6k€6k=
Reserves13€2.25M€1.80M▼
Tax-exempt reserves132€27k€27k=
Distributable reserves133€2.23M€1.77M▼
Amounts payable17/49€1.23M€1.72M▲
Amounts payable within one year42/48€1.23M€1.72M▲
Trade debts44€423k€407k▼
Suppliers440/4€423k€407k▼
Advances received on contracts in progress46€65k€594k▲
Taxes, remuneration and social security45€317k€129k▼
Taxes450/3€305k€120k▼
Remuneration and social security454/9€12k€9k▼
Other amounts payable47/48€428k€591k▲
Income statement
Code20242025
Non-recurring operating income76A-€34k
Remuneration, social security and pensions62€113k€99k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€32k€18k▼
Other operating charges640/8€8k€2k▼
Gross operating margin9900€423k€309k▼
Operating profit (loss)9901€270k€190k▼
Financial income75/76B€13k€19k▲
Recurring financial income75€13k€19k▲
Financial charges65/66B€24k€23k▼
Recurring financial charges65€24k€23k▼
Profit (loss) for the period before taxes9903€259k€186k▼
Income taxes67/77€86k€61k▼
Profit (loss) for the period9904€173k€124k▼
Profit (loss) for the period to be appropriated9905€173k€124k▼
Appropriation of the result
Profit (loss) to be appropriated9906€173k€124k▼
Transfer from equity791/2€400k€577k▲
Transfer to equity691/2€173k€124k▼
To other reserves6921€173k€124k▼
Profit to be distributed694/7€400k€577k▲
Return on contributions (dividend)694€400k€577k▲
Social balance
Average headcount (FTE)90872.6-
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
2026
03-02
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 3 days late
2025
30-06
Financial
Weakest financial yearnet €124k ▼28.2%
Net result drops to €124k, the lowest in the series.
07-02
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 7 days late
2024
06-02
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 6 days late
2023
30-06
Financial
Highest result since 2019net €299k ▲59.6%
Operating result €460k, net result €299k, both a record.
31-01
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-06
Financial
Liquidity doublescurrent ratio 5.19
Current ratio from 2.46 to 5.19; short-term debt falls from €1.34M to €513k.
14-02
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 14 days late
2021
30-06
Financial
Equity above €2MEq €2.00M ▲10.7%
3 profitable years in a row build equity to €2.00M.
12-02
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 12 days late
2019
20-12
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
31-01
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
26-01
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
23-12
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
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, Ravels · 1 establishment unit since 1998
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.
Prinsenlaan 502381 RavelsGround area
1,688 m²
Building footprint
838 m²
Volume, LiDAR
2,808 m³
Parcel 13048B0001/00B012, Flanders · tallest building 5.1 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
HEESTERMANS
since 19982.085.934.817
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13048B0001/00B012 | Flanders | 1,688 m² | 1 · 838 m² | 5.1 m · 1 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.
Similar companies · same sector, comparable size
VORSSELMANS SOLAR
BE 0806.700.203
Wuustwezel · Eq €1.80M
ESSC
BE 0828.675.255
Antwerpen · Eq €1.80M
E. DERIEMAECKER
BE 0428.193.731
Asse · Eq €1.80M
CALOREC
BE 0415.812.076
Bierbeek · Eq €1.80M
Barré
BE 0448.409.224
Wavre · Eq €1.82M
Of 22,821 companies in sector 43211 we hold annual accounts for 10,326. 3,121 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded26-02-1998
Fiscal year end30-06
Activities, NACEBEL
43211General electrical installation work
47552Retail sale of lighting equipment
47592Retail trade
51542
52442
46841Wholesale trade
46842Wholesale trade
Sources
Crossroads Bank for EnterprisesNational Bank · 27 filingsAddress and cadastre registers
Data from official sources, last processed on 18-09-2026. Scores and ratios are computed by Checked and are not a credit decision.