MARVEL
ActiveMARVEL has been active since 1968 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €278k and a net result of €-1k. Equity remains stable across the filed fiscal years (±0.4% per year). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
75
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability68▲+4
Solvency95▲+3
Growth78=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €20k at 30 days acceptable
Liquidity ample (current ratio 2.92 against 3.21 in 2024; short-term debt: 8.7% and cash: 4.1% of total assets), and 29.8% of the assets are financed with debt.
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
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 · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-1k
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 02-06-2026, 59 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
59 d early
2024
50 d early
2023
62 d early
2022
21 d late
2021
1 d late
2020
4 d late
2019
7 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
16-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€278k▼ 0.5%
2024 · €280k
2018: €273k
2019: €214k
2020: €149k
2021: €89k
2022: €71k
2023: €297k
2024: €280k
2018 → 2025
Total assets
€396k▼ 5.3%
2024 · €419k
2018: €542k
2019: €521k
2020: €764k
2021: €731k
2022: €682k
2023: €557k
2024: €419k
2018 → 2025
Net result
€-1k▲ 91.3%
2024 · €-17k
2018: €-40k
2019: €-59k
2020: €-65k
2021: €-59k
2022: €-18k
2023: €225k
2024: €-17k
2018 → 2025
Working capital
€66k▼ 7.8%
2024 · €72k
2018: €-33k
2019: €-110k
2020: €-31k
2021: €-196k
2022: €-194k
2023: €99k
2024: €72k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€89k-€71k▼ 20.1%€297k▲ 315%€280k▼ 5.8%€278k▼ 0.5%
Operating result€-47k-€1k€246k▲ 23,840%€-14k€-19▲ 99.9%
Net result€-59k-€-18k▲ 69.7%€225k€-17k€-1k▲ 91.3%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €19 in 2025 against €14k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €396k
Fixed assets
€295k▼ 5.9%
Current assets
€101k▼ 3.5%
Equity and liabilities €396k
Equity
€278k▼ 0.5%
Debt
€118k▼ 15.0%
The debt ratio falls from 33.2% to 29.8%. Equity and debt are lower.
Key figures and ratios
EBITDA
€30k▲
2024 · €16k
Cash flow
€29k▲
2024 · €14k
Solvency
70.2%▲
2024 · 66.8%
Current ratio
2.92▼
2024 · 3.21
Quick ratio
2.92▼
2024 · 3.21
Debt / equity
0.42▼
2024 · 0.50
ROE
-0.5%▲
2024 · -6.1%
ROA
-0.4%▲
2024 · -4.1%
Interest coverage
12.54▲
2024 · 6.77
Debt
€118k▼
2024 · €139k
Debt ≤ 1 year
€35k▲
2024 · €33k
Debt > 1 year
€83k▼
2024 · €106k
Income taxes
€519▲
2024 · €295
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€419k€396k▼
Fixed assets21/28€314k€295k▼
Tangible fixed assets22/27€308k€289k▼
Land and buildings22€308k€289k▼
Plant, machinery and equipment23€285€0▼
Financial fixed assets28€6k€6k=
Current assets29/58€105k€101k▼
Amounts receivable within one year40/41€33k€57k▲
Trade receivables40€6k€2k▼
Other amounts receivable41€27k€55k▲
Current investments50/53€25k€25k=
Cash at bank and in hand54/58€40k€16k▼
Deferred charges and accrued income490/1€7k€3k▼
Equity and liabilities
Total equity and liabilities10/49€419k€396k▼
Equity10/15€280k€278k▼
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€218k€216k▼
Non-distributable reserves130/1€8k€8k=
Legal reserve130€8k€8k=
Tax-exempt reserves132€38k€38k=
Distributable reserves133€172k€170k▼
Profit (loss) carried forward14€0-
Amounts payable17/49€139k€118k▼
Amounts payable after more than one year17€106k€83k▼
Financial debts170/4€106k€83k▼
Amounts payable within one year42/48€33k€35k▲
Current portion of amounts payable after more than one year42€22k€23k▲
Trade debts44€7k€11k▲
Suppliers440/4€7k€11k▲
Taxes, remuneration and social security45€295€413▲
Taxes450/3€295€413▲
Other amounts payable47/48€3k€0▼
Accrued charges and deferred income492/3€665€705▲
Income statement
Code20242025
Non-recurring operating income76A€0-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€31k€30k▼
Other operating charges640/8€8k€8k▲
Gross operating margin9900€24k€38k▲
Operating profit (loss)9901€-14k€-19▲
Financial income75/76B€2€1k▲
Recurring financial income75€2€1k▲
Financial charges65/66B€2k€2k▲
Recurring financial charges65€2k€2k▲
Profit (loss) for the period before taxes9903€-17k€-969▲
Income taxes67/77€295€519▲
Profit (loss) for the period9904€-17k€-1k▲
Profit (loss) for the period to be appropriated9905€-17k€-1k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-33k€-1k▲
Profit (loss) brought forward from the previous period14P€-16k€0▲
Transfer from equity791/2€33k€1k▼
The notes to these accounts (7 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
02-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
11-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-05
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Back to profitnet €225k
Net result €225k after 5 loss-making years.
31-12
Financial
Liquidity times 6current ratio 1.75
Current ratio from 0.30 to 1.75; short-term debt falls from €276k to €132k.
31-12
Financial
Equity above €200kEq €297k ▲315%
Equity rises from €71k to €297k.
21-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 21 days late
2022
01-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 1 day late
2021
04-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 4 days late
2020
31-12
Financial
Weakest financial yearnet €-65k
Net result drops to €-65k, the lowest in the series; recovery starts the following year.
24-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
29-05
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
25-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
12-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
7 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, Aarschot · 1 establishment unit since 1959
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.
Elisabethlaan 423200 AarschotGround area
378 m²
Building footprint
90 m²
Volume, LiDAR
724 m³
Parcel 24662G0171/00Z003, Flanders · tallest building 12.8 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Elisabethlaan 42, 3200 Aarschot
since 19592.005.376.119
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24662G0171/00Z003 | Flanders | 378 m² | 1 · 90 m² | 12.8 m · 3 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.
Structure & network
Connections & network
1 connected companyNetwork connections
Shared address
→
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded01-01-1968
Fiscal year end31-12
Sources
Crossroads Bank for EnterprisesNational Bank · 49 filingsAddress and cadastre registers
Data from official sources, last processed on 16-09-2026. Scores and ratios are computed by Checked and are not a credit decision.