Marnor
ActiveMarnor has been active since 1980 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €39.18M and a net result of €4.65M. Equity is shrinking by ~4.6% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
74
/ 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
Profitability67▲+23
Solvency100=
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2M at 30 days acceptable
Liquidity ample (current ratio 8.9 against 0.88 in 2024; short-term debt: 1.1% and cash: 0.4% of total assets), and 1.1% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight 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
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
98.9%
Return on assets
11.7%
Age of the figures
15 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 31-01-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
6 d late
2023
10 d late
2022
28 d late
2021
28 d late
2020
26 d late
2019
18 d late
← 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 close20-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€4.65M▲ 288%
2024 · €1.20M
2019: €1.94M
2020: €7.10M
2021: €-41k
2022: €13k
2023: €746k
2024: €1.20M
2019 → 2025
Working capital
€3.52M
2024 · €-1.14M
2019: €3.83M
2020: €20.15M
2021: €6.60M
2022: €6.62M
2023: €7.36M
2024: €-1.14M
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€42.26M-€42.28M=€43.02M▲ 1.8%€34.52M▼ 19.8%€39.18M▲ 13.5%
Operating result€-71k-€-7k▲ 89.7%€-8k▼ 7.9%€-8k▲ 2.7%€-9k▼ 18.8%
Net result€-41k-€13k€746k▲ 5,658%€1.20M▲ 60.6%€4.65M▲ 288%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €9k in 2025 against €8k in 2024; the loss grows.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €39.62M
Fixed assets
€35.66M=
Current assets
€3.96M▼ 53.8%
Equity and liabilities €39.62M
Equity
€39.18M▲ 13.5%
Debt
€445k▼ 95.4%
The debt ratio falls from 21.9% to 1.1%. Equity is higher and debt is lower.
Key figures and ratios
Solvency
98.9%▲
2024 · 78.1%
Current ratio
8.90▲
2024 · 0.88
Quick ratio
8.90▲
2024 · 0.88
Debt / equity
0.01▼
2024 · 0.28
ROE
11.9%▲
2024 · 3.5%
ROA
11.7%▲
2024 · 2.7%
Debt
€445k▼
2024 · €9.70M
Debt ≤ 1 year
€445k▼
2024 · €9.70M
Income taxes
€486k▲
2024 · €31k
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€44.23M€39.62M▼
Fixed assets21/28€35.66M€35.66M=
Financial fixed assets28€35.66M€35.66M=
Current assets29/58€8.57M€3.96M▼
Amounts receivable within one year40/41€2k-
Other amounts receivable41€2k-
Current investments50/53-€3.80M
Cash at bank and in hand54/58€8.57M€161k▼
Equity and liabilities
Total equity and liabilities10/49€44.23M€39.62M▼
Equity10/15€34.52M€39.18M▲
Contributions10/11€375k€375k=
Capital10€375k€375k=
Issued capital100€375k€375k=
Reserves13€8.79M€13.29M▲
Non-distributable reserves130/1€1.39M€1.39M=
Legal reserve130€1.39M€1.39M=
Distributable reserves133€7.40M€11.90M▲
Profit (loss) carried forward14€25.36M€25.51M▲
Amounts payable17/49€9.70M€445k▼
Amounts payable within one year42/48€9.70M€445k▼
Trade debts44€5k€5k▼
Suppliers440/4€5k€5k▼
Taxes, remuneration and social security45-€440k
Taxes450/3-€440k
Other amounts payable47/48€9.70M-
Income statement
Code20242025
Other operating charges640/8-€968
Gross operating margin9900€-8k€-8k▼
Operating profit (loss)9901€-8k€-9k▼
Financial income75/76B€1.24M€5.15M▲
Recurring financial income75€1.24M€5.15M▲
Financial charges65/66B€93€1▼
Recurring financial charges65€93€1▼
Profit (loss) for the period before taxes9903€1.23M€5.14M▲
Income taxes67/77€31k€486k▲
Profit (loss) for the period9904€1.20M€4.65M▲
Profit (loss) for the period to be appropriated9905€1.20M€4.65M▲
Appropriation of the result
Profit (loss) to be appropriated9906€25.36M€30.01M▲
Profit (loss) brought forward from the previous period14P€24.16M€25.36M▲
Transfer from equity791/2€9.70M-
Transfer to equity691/2-€4.50M
To other reserves6921-€4.50M
Profit to be distributed694/7€9.70M-
Return on contributions (dividend)694€9.70M-
The notes to these accounts (3 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
31-01
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
30-06
Financial
Liquidity times 10current ratio 8.90
Current ratio from 0.88 to 8.90; short-term debt falls from €9.70M to €445k.
06-02
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 6 days late
2024
10-02
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 10 days late
2023
28-02
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 28 days late
2022
30-06
Financial
Back to profitnet €13k
Net result €13k after one loss-making year.
28-02
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 28 days late
2021
30-06
Financial
Weakest financial yearnet €-41k ▼101%
Net result drops to €-41k, the lowest in the series; recovery starts the following year.
30-06
Financial
Liquidity times 26current ratio 846.23
Current ratio from 32.08 to 846.23; short-term debt falls from €648k to €8k.
26-02
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 26 days late
2020
30-06
Financial
Highest result since 2019net €7.10M ▲266%
Net result €7.10M, the highest in the series.
30-06
Financial
Equity above €50MEq €55.80M ▲14.6%
2 profitable years in a row build equity to €55.80M.
18-02
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 18 days late
2019
08-02
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 8 days late
2017
27-12
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2016
30-11
NBB filing
Annual accounts filed
fiscal year 2016 · full 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 2024
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.
23-04-2024
Charles-Henry Waucquez: Resigned as Director
16-02-2022
Gäetan Waucquez: Resigned as Director
02-02-2004
J-P ROSSELET: Resigned as Director
Location & real-estate footprint
Registered office, Brussel · 1 establishment unit since 1981
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.
Marnixlaan 19A1000 BrusselGround area
437 m²
Building footprint
415 m²
Volume, LiDAR
14,382 m³
Parcel 21805E0539/00F000, Brussels · tallest building 44.7 m, ±11 floors. Linked by address, not a title deed.
1 establishment unit
Marnixlaan 19A, 1000 Brussel
since 19812.018.477.354
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21805E0539/00F000 | Brussels | 437 m² | 1 · 415 m² | 44.7 m · 11 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.
Recognitions · licences · registrations
Legal Entity Identifier
8945008XHQV8YEJ1PT30
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded24-10-1980
Fiscal year end30-06
Sources
Crossroads Bank for EnterprisesNational Bank · 44 filingsAddress and cadastre registers
Data from official sources, last processed on 19-09-2026. Scores and ratios are computed by Checked and are not a credit decision.