ACTIVE

Marnor

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Financial year 2025 · closed on 30/06/2025

Net result

4,7 M €

+288.2% YoY

Gross margin

-8,1 k €

-6.1% YoY

Equity

39,2 M €

+13.5% YoY

What does Marnor do?

Marnor is a Public limited company incorporated in 1980. Its registered office is in Bruxelles.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0421.106.197

Incorporation

24/10/1980

Legal form

Public limited company

Registered office

Avenue Marnix 19A box 26
1000 Bruxelles · BruxellesSee on map

Contributed capital

375 000,00 €

Latest accounts

30/06/2025

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflow

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	-8,1 k €	-6.1%	-7,7 k €	-9.4%	-7 k €	-9.0%	-6,4 k €	+68.4%	-20,3 k €	-88.0%	-10,8 k €	-142%	25,9 k €	-97.6%	1,1 M €	-80.6%	5,6 M €	+5006%	110,4 k €	-28.7%	155 k €	-18.4%	189,8 k €	-35.1%	292,4 k €	+0.4%	291,3 k €	+31.5%	221,6 k €	+1.3%	218,8 k €	+8.0%	202,6 k €	-2.1%	207 k €	+6.3%	194,7 k €
EBITDA	-9,1 k €	-18.8%	-7,7 k €	+2.7%	-7,9 k €	-7.9%	-7,3 k €	+89.7%	-70,6 k €	-505%	-11,7 k €	-148%	24,1 k €	-97.8%	1,1 M €	-80.5%	5,6 M €	+9489%	58,3 k €	-42.7%	101,7 k €	-17.4%	123 k €	-45.8%	227 k €	-18.6%	278,9 k €	+33.3%	209,3 k €	+1.3%	206,5 k €	+8.3%	190,8 k €	-2.4%	195,3 k €	+6.5%	183,4 k €
Operating result	-9,1 k €	-18.8%	-7,7 k €	+2.7%	-7,9 k €	-7.9%	-7,3 k €	+89.7%	-70,6 k €	-505%	-11,7 k €	-148%	24,1 k €	-97.8%	1,1 M €	-80.5%	5,6 M €	+21185%	26,2 k €	-64.1%	73,1 k €	-26.5%	99,5 k €	-51.1%	203,5 k €	-17.1%	245,4 k €	+40.5%	174,6 k €	+2.6%	170,3 k €	+10.2%	154,5 k €	-2.9%	159,1 k €	+8.1%	147,1 k €
Net result	4,7 M €	+288%	1,2 M €	+60.6%	746,1 k €	+5658%	13 k €	+132%	-40,7 k €	-101%	7,1 M €	+266%	1,9 M €	-31.2%	2,8 M €	-59.4%	6,9 M €	+389%	1,4 M €	-80.8%	7,4 M €	+412%	1,4 M €	-5.6%	1,5 M €	+106%	743,9 k €	+205%	-705,9 k €	-103%	23,1 M €	+3539%	634,1 k €	-50.6%	1,3 M €	+43.3%	895,5 k €
Balance sheet
Equity	39,2 M €	+13.5%	34,5 M €	-19.8%	43 M €	+1.8%	42,3 M €	+0.0%	42,3 M €	-24.3%	55,8 M €	+14.6%	48,7 M €	+4.2%	46,8 M €	+4.1%	44,9 M €	+18.3%	38 M €	+3.9%	36,6 M €	+25.3%	29,2 M €	-0.2%	29,2 M €	+5.5%	27,7 M €	+2.8%	27 M €	-2.6%	27,7 M €	+504%	4,6 M €	+16.1%	3,9 M €	+48.2%	2,7 M €
Total assets	39,6 M €	-10.4%	44,2 M €	+2.8%	43 M €	+1.8%	42,3 M €	+0.0%	42,3 M €	-25.1%	56,5 M €	+15.9%	48,7 M €	+3.6%	47 M €	-10.2%	52,4 M €	+5.9%	49,5 M €	-0.9%	49,9 M €	-13.5%	57,7 M €	+0.3%	57,5 M €	+0.0%	57,5 M €	+2.4%	56,2 M €	+6.6%	52,7 M €	+213%	16,8 M €	-2.2%	17,2 M €	+0.6%	17,1 M €
Cash	161 k €	-98.1%	8,6 M €	+155%	3,4 M €	+27.6%	2,6 M €	+64.4%	1,6 M €	-92.3%	20,8 M €	+698%	2,6 M €	+83.6%	1,4 M €	-61.9%	3,7 M €	+706100%	526,3 €	-99.8%	349,3 k €	+48.3%	235,6 k €	+248%	67,6 k €	+34956%	193 €	-99.9%	329,4 k €	+170594%	193 €	-99.8%	107,3 k €	+55505%	193 €	-99.8%	113,5 k €
Debts	445,1 k €	-95.4%	9,7 M €	+107686%	9 k €	-16.5%	10,8 k €	+37.9%	7,8 k €	-98.8%	648,3 k €	+11094%	5,8 k €	-97.8%	263,1 k €	-96.5%	7,4 M €	-35.3%	11,5 M €	-14.0%	13,4 M €	-53.1%	28,5 M €	+0.7%	28,3 M €	-5.0%	29,8 M €	+5.4%	28,3 M €	+13.6%	24,9 M €	+104%	12,2 M €	-7.1%	13,1 M €	-8.3%	14,3 M €
Other
Workforce	–		–		–		–		–		–		–		–		–		1,0 ETP	0.0%	1,0 ETP	-33.3%	1,5 ETP	0.0%	1,5 ETP		–		–		–		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 25 M€ and 50 M€

See the valuation

Governance

Board of directors

Seen on filing of 30/06/2025 · 3 active · 6 ended

Active mandates

Coralie Waucquez

Director

Active

Priscilla Waucquez

Director

Active

WAUKINT

Director · 0861.594.085

Represented by Loïc Waucquez

Active

Ended mandates

Charles-Henry Waucquez

Director · since 01 juillet 2021

Ended

Arnoud Papeians de Morchoven

Director

Ended

Gaëtan Waucquez

Director · until 01 juillet 2021

Ended

Gaëtan Waucquez

Director

Ended

At this address

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Forum E.C. - Vietnam● Active	0451.303.188
KODY EXPORT● Active	0440.844.610
MARINVEST● Active	0827.408.218

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/07/2024	01/07/2023	01/07/2022	01/07/2021	01/07/2020	01/07/2019
Closing of the financial year	30/06/2025	30/06/2024	30/06/2023	30/06/2022	30/06/2021	30/06/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	31/01/2026	06/02/2025	10/02/2024	28/02/2023	28/02/2022	26/02/2021
General meeting	29/10/2025	30/10/2024	25/10/2023	26/10/2022	27/10/2021	28/10/2020
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	30/06/2025	29/10/2025	31/01/2026	French	PDF
Abridged model	30/06/2024	30/10/2024	06/02/2025	French	PDF
Abridged model	30/06/2023	25/10/2023	10/02/2024	French	PDF
Abridged model	30/06/2022	26/10/2022	28/02/2023	French	PDF
Abridged model	30/06/2021	27/10/2021	28/02/2022	French	PDF
Abridged model	30/06/2020	28/10/2020	26/02/2021	French	PDF
Abridged model	30/06/2019	30/10/2019	18/02/2020	French	PDF
Abridged model	30/06/2018	31/10/2018	08/02/2019	French	PDF
Abridged model	30/06/2017	25/10/2017	27/12/2017	French	PDF
Abridged model	30/06/2016	26/10/2016	30/11/2016	French	PDF
Abridged model	30/06/2015	28/10/2015	30/11/2015	French	PDF
Abridged model	30/06/2014	29/10/2014	17/12/2014	French	PDF
Abridged model	30/06/2013	30/10/2013	27/01/2014	French	PDF
Abridged model	30/06/2012	31/10/2012	25/01/2013	French	PDF
Abridged model	30/06/2011	26/10/2011	29/02/2012	French	PDF
Abridged model	30/06/2010	27/10/2010	29/04/2011	French	PDF
Abridged model	30/06/2009	28/10/2009	21/01/2010	French	PDF
Abridged model	30/06/2008	29/10/2008	19/01/2010	French	PDF
Abridged model	30/06/2007	31/10/2007	30/11/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 25 M€ and 50 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 30/06/2025 · 3 active · 6 ended

Active mandates

Coralie Waucquez

Director

Active

Priscilla Waucquez

Director

Active

WAUKINT

Director · 0861.594.085

Represented by Loïc Waucquez

Active

Ended mandates

Charles-Henry Waucquez

Director · since 01 juillet 2021

Ended

Arnoud Papeians de Morchoven

Director

Ended

Gaëtan Waucquez

Director · until 01 juillet 2021

Ended

Gaëtan Waucquez

Director

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates11/05/2026
DEMISSIONS, NOMINATIONS
PDF
Mandates25/06/2024
DEMISSIONS, NOMINATIONS
PDF
Mandates16/02/2022
DEMISSIONS, NOMINATIONS
PDF
Capital / shares18/12/2020
CAPITAL, ACTIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates02/12/2020
DEMISSIONS, NOMINATIONS
PDF
Capital / shares02/02/2018
CAPITAL, ACTIONS
PDF
Capital / shares17/07/2014
CAPITAL, ACTIONS
PDF
Mandates20/02/2014
DEMISSIONS, NOMINATIONS
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

29/10/2025
reconductionPriscilla Waucquez — administrateur
29/10/2025
reconductionCoralie Waucquez — administrateur
29/10/2025
reconductionWaukint s.a. — administrateur
2025
Annual accounts 20254,7 M €↑
2024
Annual accounts 20241,2 M €↑
2023
Annual accounts 2023746,1 k €↑
2022
Annual accounts 202213 k €↑
2021
Annual accounts 2021-40,7 k €↓
2020
Annual accounts 20207,1 M €↑
2019
Annual accounts 20191,9 M €↓
2018
Annual accounts 20182,8 M €↓
2017
Annual accounts 20176,9 M €↑
2016
Annual accounts 20161,4 M €↓
2015
Annual accounts 20157,4 M €↑
2014
Annual accounts 20141,4 M €↓
2013
Annual accounts 20131,5 M €↑
2012
Annual accounts 2012743,9 k €↑
2011
Annual accounts 2011-705,9 k €↓
2010
Annual accounts 201023,1 M €↑
2009
Annual accounts 2009634,1 k €↓
2008
Annual accounts 20081,3 M €↑
2007
Annual accounts 2007895,5 k €
24/10/1980
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

Marnor

Overview

What does Marnor do?

Trend over 19 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline