ACTIVE

MARANDS

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Financial year 2025 · closed on 31/12/2025

Net result

50,5 k €

+814.5% YoY

Gross margin

148,5 k €

+75.2% YoY

Equity

1,4 M €

+3.7% YoY

What does MARANDS do?

MARANDS is a Public limited company incorporated in 1992. Its registered office is in Gerpinnes.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0446.731.322

Incorporation

27/02/1992

Legal form

Public limited company

Registered office

Rue du Calvaire(LOV) 74 box 6
6280 Gerpinnes · WallonieSee on map

Contributed capital

974 221,55 €

Latest accounts

31/12/2025

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	148,5 k €	+75.2%	84,7 k €	+99.1%	42,5 k €	-69.1%	137,7 k €	+170%	51 k €	-33.6%	76,8 k €	+22.9%	62,5 k €	-22.3%	80,4 k €	+0.9%	79,8 k €	-2.4%	81,7 k €	+8.3%	75,5 k €	-7.7%	81,8 k €	+33.9%	61,1 k €	-4.0%	63,6 k €	+3.0%	61,7 k €	+12.4%	54,9 k €	+14.0%	48,2 k €	-24.1%	63,5 k €	-5.6%	67,2 k €	+8.8%	61,8 k €
EBITDA	125,1 k €	+98.1%	63,1 k €	+80.0%	35,1 k €	-70.8%	120,1 k €	+193%	41 k €	-39.5%	67,7 k €	+25.4%	54 k €	-24.6%	71,6 k €	-0.1%	71,7 k €	-2.8%	73,8 k €	+9.2%	67,6 k €	-9.0%	74,2 k €	+38.8%	53,5 k €	-4.9%	56,2 k €	+3.0%	54,6 k €	+13.8%	48 k €	+16.4%	41,3 k €	-27.3%	56,7 k €	-6.1%	60,4 k €	+12.4%	53,7 k €
Operating result	65,7 k €	+1758%	3,5 k €	+185%	-4,2 k €	-105%	91,9 k €	+599%	13,1 k €	-70.1%	44 k €	+48.7%	29,6 k €	-37.4%	47,2 k €	+3.0%	45,8 k €	-7.7%	49,7 k €	+19.0%	41,7 k €	-13.9%	48,5 k €	+74.0%	27,9 k €	-16.3%	33,3 k €	+5.1%	31,7 k €	+26.4%	25 k €	+23.9%	20,2 k €	-43.3%	35,7 k €	-14.0%	41,5 k €	+19.2%	34,8 k €
Net result	50,5 k €	+814%	-7,1 k €	+53.1%	-15,1 k €	-124%	62,4 k €	+1820%	3,2 k €	-87.2%	25,5 k €	+111%	12,1 k €	-64.7%	34,3 k €	-2.4%	35,1 k €	-14.0%	40,8 k €	+33.4%	30,6 k €	-18.0%	37,3 k €	+173%	13,6 k €	-31.0%	19,8 k €	+0.9%	19,6 k €	+109%	9,4 k €	+101%	4,7 k €	-80.2%	23,5 k €	-0.8%	23,7 k €	+55.2%	15,3 k €
Balance sheet
Equity	1,4 M €	+3.7%	1,4 M €	-0.5%	1,4 M €	-1.1%	1,4 M €	+4.7%	1,3 M €	+0.2%	1,3 M €	+2.0%	1,3 M €	+0.9%	1,3 M €	+2.7%	1,3 M €	+2.9%	1,2 M €	+3.5%	1,2 M €	+2.7%	1,2 M €	+3.4%	1,1 M €	+1.2%	1,1 M €	+1.8%	1,1 M €	+1.8%	1,1 M €	+0.9%	1,1 M €	+0.4%	1 M €	+2.3%	1 M €	+2.4%	999,1 k €
Total assets	1,5 M €	-6.6%	1,6 M €	+0.3%	1,6 M €	-0.8%	1,6 M €	+5.0%	1,5 M €	+0.2%	1,5 M €	+1.7%	1,5 M €	+0.5%	1,5 M €	+3.5%	1,4 M €	+1.5%	1,4 M €	+4.1%	1,3 M €	+2.3%	1,3 M €	-2.0%	1,3 M €	+1.1%	1,3 M €	-1.0%	1,3 M €	+0.8%	1,3 M €	+0.8%	1,3 M €	-0.5%	1,3 M €	-0.5%	1,3 M €	+1.8%	1,3 M €
Cash	173 k €	-23.8%	227,1 k €	+14.7%	198 k €	-31.2%	288 k €	-45.2%	525,2 k €	+361%	113,8 k €	+42.0%	80,2 k €	-52.1%	167,4 k €	+61.1%	103,9 k €	+30.8%	79,4 k €	+49.5%	53,2 k €	+93.1%	27,5 k €	+1226%	2,1 k €	-96.2%	54,8 k €	+14.2%	48 k €	+136%	20,3 k €	-3.6%	21,1 k €	+100%	10,5 k €	+159%	4,1 k €	-78.7%	19,1 k €
Debts	23,5 k €	-86.1%	168,9 k €	+5.9%	159,5 k €	+1.8%	156,7 k €	-3.4%	162,2 k €	-0.2%	162,5 k €	-0.3%	163 k €	-2.9%	167,8 k €	+3.9%	161,5 k €	-1.6%	164,2 k €	+2.1%	160,8 k €	-0.1%	160,9 k €	-28.6%	225,5 k €	+0.1%	225,2 k €	-7.6%	243,8 k €	-8.9%	267,5 k €	+0.4%	266,4 k €	-4.3%	278,3 k €	-9.7%	308,1 k €	+0.1%	307,9 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 12 ended

Active mandates

Annick Marchal

Director

Active

Eric MARCHAL

Director

Active

Etienne Marchal

Director

Active

Ended mandates

ANNICK MARCHAL

Director · since 20 juin 2022 · until 19 juin 2028

Ended

ERIC MARCHAL

Director · since 20 juin 2022 · until 19 juin 2028

Ended

ETIENNE MARCHAL

Director · since 20 juin 2022 · until 19 juin 2028

Ended

Annick Fernande Marie MARCHAL

Director · since 15 juin 2017 · until 02 juin 2023

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	13/07/2026	25/07/2025	28/07/2024	25/07/2023	28/09/2022	16/06/2021
General meeting	26/06/2026	27/06/2025	28/06/2024	03/07/2023	24/06/2022	15/06/2021
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

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	26/06/2026	13/07/2026	French	PDF
Micro model	31/12/2024	27/06/2025	25/07/2025	French	PDF
Micro model	31/12/2023	28/06/2024	28/07/2024	French	PDF
Abridged model	31/12/2022	03/07/2023	25/07/2023	French	PDF
Abridged model	31/12/2021	24/06/2022	28/09/2022	French	PDF
Abridged model	31/12/2020	15/06/2021	16/06/2021	French	PDF
Abridged model	31/12/2019	26/06/2020	06/07/2020	French	PDF
Abridged model	31/12/2018	26/06/2019	28/06/2019	French	PDF
Abridged model	31/12/2017	02/06/2018	26/06/2018	French	PDF
Abridged model	31/12/2016	15/06/2017	22/06/2017	French	PDF
Abridged model	31/12/2015	15/06/2016	17/06/2016	French	PDF
Abridged model	31/12/2014	02/06/2015	09/06/2015	French	PDF
Abridged model	31/12/2013	02/06/2014	17/06/2014	French	PDF
Abridged model	31/12/2012	03/06/2013	18/06/2013	French	PDF
Abridged model	31/12/2011	02/06/2012	15/06/2012	French	PDF
Abridged model	31/12/2010	02/06/2011	09/06/2011	French	PDF
Abridged model	31/12/2009	02/06/2010	09/06/2010	French	PDF
Abridged model	31/12/2008	02/06/2009	13/07/2009	French	PDF
Abridged model	31/12/2007	02/06/2008	25/06/2008	French	PDF
Abridged model	31/12/2006	14/06/2007	22/06/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 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 31/12/2025 · 3 active · 12 ended

Active mandates

Annick Marchal

Director

Active

Eric MARCHAL

Director

Active

Etienne Marchal

Director

Active

Ended mandates

ANNICK MARCHAL

Director · since 20 juin 2022 · until 19 juin 2028

Ended

ERIC MARCHAL

Director · since 20 juin 2022 · until 19 juin 2028

Ended

ETIENNE MARCHAL

Director · since 20 juin 2022 · until 19 juin 2028

Ended

Annick Fernande Marie MARCHAL

Director · since 15 juin 2017 · until 02 juin 2023

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates22/06/2022
CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS - ASSEMBLEE GENERALE
PDF
Mandates16/09/2019
DEMISSIONS, NOMINATIONS
PDF
Mandates05/07/2011
DEMISSIONS, NOMINATIONS
PDF
Mandates21/12/2006
DEMISSIONS, NOMINATIONS
PDF
Registered office09/12/2003
SIEGE SOCIAL
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

2025
Annual accounts 202550,5 k €↑
2024
Annual accounts 2024-7,1 k €↑
2023
Annual accounts 2023-15,1 k €↓
2022
Annual accounts 202262,4 k €↑
2021
Annual accounts 20213,2 k €↓
2020
Annual accounts 202025,5 k €↑
2019
Annual accounts 201912,1 k €↓
2018
Annual accounts 201834,3 k €↓
2017
Annual accounts 201735,1 k €↓
2016
Annual accounts 201640,8 k €↑
2015
Annual accounts 201530,6 k €↓
2014
Annual accounts 201437,3 k €↑
2013
Annual accounts 201313,6 k €↓
2012
Annual accounts 201219,8 k €↑
2011
Annual accounts 201119,6 k €↑
2010
Annual accounts 20109,4 k €↑
2009
Annual accounts 20094,7 k €↓
2008
Annual accounts 200823,5 k €↓
2007
Annual accounts 200723,7 k €↑
2006
Annual accounts 200615,3 k €
27/02/1992
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

MARANDS

Overview

What does MARANDS do?

Trend over 20 financial years

Indicative valuation

Board of directors

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