MARVEN
ActiveMARVEN has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €120k and a net result of €-44k. Equity is shrinking by ~3.8% per year across the filed fiscal years. Its solvency ranks better than 36% of 12835 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
20
/ 100
Critical▼ -28 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0▼-1
Solvency10▼-26
Growth32=
Stability100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.05 against 0.7 in 2024), and 85.2% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five 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 →
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
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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
31 d late
2024
61 d late
2023
30 d late
2022
31 d late
2021
87 d late
2020
26 d late
2019
144 d late
← 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
09-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€120k▼ 54.6%
2024 · €264k
2018: €361k
2019: €357k
2020: €305k
2021: €348k
2022: €345k
2023: €364k
2024: €264k
2018 → 2025
Total assets
€809k▼ 15.4%
2024 · €956k
2018: €1.56M
2019: €1.50M
2020: €1.31M
2021: €1.25M
2022: €1.19M
2023: €1.14M
2024: €956k
2018 → 2025
Net result
€-44k
2024 · €601
2018: €5k
2019: €-4k
2020: €-53k
2021: €43k
2022: €-2k
2023: €19k
2024: €601
2018 → 2025
Working capital
€-208k▼ 412%
2024 · €-41k
2018: €-180k
2019: €-131k
2020: €-64k
2021: €19k
2022: €5k
2023: €34k
2024: €-41k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€348k-€345k▼ 0.7%€364k▲ 5.3%€264k▼ 27.6%€120k▼ 54.6%
Operating result€61k-€16k▼ 73.5%€33k▲ 104%€17k▼ 48.4%€-31k
Net result€43k-€-2k€19k€601▼ 96.9%€-44k
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 turns negative in 2025: a loss of €31k after €17k in 2024, the lowest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €809k
Fixed assets
€798k▼ 7.4%
Current assets
€11k▼ 88.5%
Equity and liabilities €809k
Equity
€120k▼ 54.6%
Debt
€689k▼ 0.5%
The debt ratio rises from 72.4% to 85.2%: equity shrinks faster than debt is paid down.
Key figures and ratios
EBITDA
€88k▼
2024 · €143k
Cash flow
€75k▼
2024 · €127k
Solvency
14.8%▼
2024 · 27.6%
Current ratio
0.05▼
2024 · 0.70
Quick ratio
0.05▼
2024 · 0.70
Debt / equity
5.76▲
2024 · 2.63
ROE
-36.7%▼
2024 · 0.2%
ROA
-5.4%▼
2024 · 0.1%
Interest coverage
6.66▼
2024 · 9.25
Debt
€689k▼
2024 · €692k
Debt ≤ 1 year
€219k▲
2024 · €134k
Debt > 1 year
€469k▼
2024 · €558k
Income taxes
€35▼
2024 · €949
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€956k€809k▼
Fixed assets21/28€862k€798k▼
Tangible fixed assets22/27€862k€798k▼
Land and buildings22€652k€572k▼
Plant, machinery and equipment23€54k€80k▲
Furniture and vehicles24€18k€21k▲
Leasing and similar rights25€139k€125k▼
Current assets29/58€94k€11k▼
Amounts receivable within one year40/41€74k€4k▼
Trade receivables40€73k€0▼
Other amounts receivable41€958€4k▲
Cash at bank and in hand54/58€19k€5k▼
Deferred charges and accrued income490/1€701€1k▲
Equity and liabilities
Total equity and liabilities10/49€956k€809k▼
Equity10/15€264k€120k▼
Contributions10/11€200k€100k▼
Reserves13€64k€60k▼
Tax-exempt reserves132€35k€32k▼
Distributable reserves133€28k€28k=
Profit (loss) carried forward14€0€-40k▼
Amounts payable17/49€692k€689k▼
Amounts payable after more than one year17€558k€469k▼
Financial debts170/4€558k€469k▼
Amounts payable within one year42/48€134k€219k▲
Current portion of amounts payable after more than one year42€85k€88k▲
Financial debts43€136€120▼
Credit institutions430/8€0€7▲
Other loans439€136€112▼
Trade debts44€7k€27k▲
Suppliers440/4€7k€27k▲
Taxes, remuneration and social security45€7k€2k▼
Taxes450/3€6k€1k▼
Remuneration and social security454/9€1k€1k=
Other amounts payable47/48€35k€101k▲
Accrued charges and deferred income492/3€371€546▲
Income statement
Code20242025
Non-recurring operating income76A€0-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€126k€119k▼
Other operating charges640/8€6k€6k▼
Gross operating margin9900€150k€94k▼
Operating profit (loss)9901€17k€-31k▼
Financial income75/76B€102€118▲
Recurring financial income75€102€118▲
Financial charges65/66B€15k€13k▼
Recurring financial charges65€15k€13k▼
Profit (loss) for the period before taxes9903€2k€-44k▼
Income taxes67/77€949€35▼
Profit (loss) for the period9904€601€-44k▼
Transfer from tax-exempt reserves789€4k€4k=
Profit (loss) for the period to be appropriated9905€4k€-40k▼
Appropriation of the result
Profit (loss) to be appropriated9906€4k€-40k▼
Transfer from equity791/2€859€0▼
Transfer to equity691/2€4k€0▼
To other reserves6921€4k€0▼
Profit to be distributed694/7€859€0▼
Return on contributions (dividend)694€859€0▼
The notes to these accounts (11 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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 61 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 30 days late
2023
31-12
Financial
Back to profitnet €19k
Net result €19k after one loss-making year.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 31 days late
2022
26-10
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 87 days late
2021
31-12
Financial
Back to profitnet €43k
Net result €43k after 2 loss-making years.
31-12
Financial
Liquidity triplescurrent ratio 1.21
Current ratio from 0.45 to 1.21; short-term debt falls from €117k to €91k.
26-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 26 days late
2020
31-12
Financial
Weakest financial yearnet €-53k
Net result drops to €-53k, the lowest in the series; recovery starts the following year.
22-12
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 144 days late
2019
14-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 14 days late
2018
28-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 28 days late
2017
25-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 25 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 directors, no change since 2022
CUVELIER Paul-Henri
CurrentDirector · since 28-12-2022
28-12-2022
CUVELIER Paul-Henri: Resigned as Director
28-12-2022
CUVELIER Paul-Henri: Appointed as Director
28-12-2022
VANDENHOEKE Marleen: Resigned as Director
Location & real-estate footprint
Registered office, Maarkedal · 1 establishment unit since 1992
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.
Nederholbeekstraat (ETKH) 1359680 MaarkedalGround area
888 m²
Building footprint
863 m²
Volume, LiDAR
3,850 m³
Parcel 45011A1011/00L004, Flanders · tallest building 11.7 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
MARVEN
since 19922.056.888.760
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 45011A1011/00L004 | Flanders | 888 m² | 1 · 863 m² | 11.7 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
Tea & Lunch Georges
BE 0670.859.324
Oostende · Eq €120k
PATRICK GLABEKE
BE 0840.005.845
Heuvelland · Eq €120k
CETIN
BE 0886.993.635
Steenokkerzeel · Eq €120k
La Table des Artistes
BE 0672.819.615
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DEAN & CO
BE 0899.330.550
De Haan · Eq €120k
Of 20,233 companies in sector 56111 we hold annual accounts for 11,303. 9,261 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded26-02-1992
Fiscal year end31-12
Activities, NACEBEL
55301
56101Full-service restaurants
56111Full-service restaurants
68201Renting and operating of own or leased residential real estate, excluding social housing
64200Holdings
64210Activities of holding companies
Sources
Crossroads Bank for EnterprisesNational Bank · 34 filingsAddress and cadastre registers
Data from official sources, last processed on 08-09-2026. Scores and ratios are computed by Checked and are not a credit decision.