ACTIVE

MARJAN

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Financial year 2025 · closed on 31/12/2025

Net result

32,7 k €

+23.9% YoY

Gross margin

141,4 k €

-5.7% YoY

Equity

654 k €

+5.3% YoY

What does MARJAN do?

MARJAN is a Private limited company incorporated in 2004. Its registered office is in Erpe-Mere.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0866.657.089

Incorporation

05/08/2004

Legal form

Private limited company

Registered office

Frankrot 29
9420 Erpe-Mere · FlandreSee on map

Contributed capital

297 365,00 €

Latest accounts

31/12/2025

Signals

ProfitableSolid equityPositive cashflowPositive EBITDA

View the BCE/KBO Public Search record →

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	141,4 k €	-5.7%	149,9 k €	-6.0%	159,6 k €	-6.0%	169,7 k €	-4.8%	178,3 k €	-10.0%	198,1 k €	+2.1%	194 k €	+8.3%	179,2 k €	-4.1%	186,8 k €	+8.8%	171,7 k €	+0.2%	171,2 k €	-7.1%	184,3 k €	+1.1%	182,3 k €	+9.8%	166,1 k €	+65.2%	100,5 k €	+1.3%	99,3 k €	-15.6%	117,6 k €	-1.4%	119,2 k €	+0.9%	118,1 k €
EBITDA	139,2 k €	+2.2%	136,2 k €	-7.0%	146,5 k €	+5.7%	138,6 k €	-16.7%	166,5 k €	-10.7%	186,5 k €	+1.7%	183,4 k €	+8.8%	168,5 k €	-4.4%	176,2 k €	+9.0%	161,6 k €	+0.2%	161,3 k €	-7.3%	174,1 k €	+3.5%	168,2 k €	+7.8%	156 k €	+68.2%	92,7 k €	+1.5%	91,4 k €	-21.6%	116,6 k €	-1.4%	118,2 k €	+0.9%	117,1 k €
Operating result	52,4 k €	+7.3%	48,9 k €	-17.3%	59 k €	+16.3%	50,8 k €	-32.4%	75,1 k €	-18.9%	92,5 k €	+3.2%	89,7 k €	+19.5%	75,1 k €	-13.9%	87,1 k €	+12.2%	77,7 k €	-4.5%	81,3 k €	-9.6%	90 k €	+6.1%	84,7 k €	+14.1%	74,3 k €	+366%	15,9 k €	-57.5%	37,5 k €	-46.2%	69,8 k €	-1.3%	70,7 k €	+1.6%	69,6 k €
Net result	32,7 k €	+23.9%	26,4 k €	-15.9%	31,3 k €	+1.9%	30,7 k €	-35.7%	47,8 k €	-10.4%	53,3 k €	+13.6%	46,9 k €	+28.5%	36,5 k €	-12.1%	41,6 k €	+17.6%	35,3 k €	+6.4%	33,2 k €	+45.0%	22,9 k €	-64.8%	65,2 k €	+165%	24,5 k €	+189%	-27,5 k €	-33.6%	-20,6 k €	-234%	15,4 k €	-26.9%	21 k €	+46.9%	14,3 k €
Balance sheet
Equity	654 k €	+5.3%	621,3 k €	+4.4%	594,9 k €	+5.6%	563,6 k €	-0.8%	568,2 k €	-28.2%	791,7 k €	+7.2%	738,4 k €	+6.8%	691,4 k €	+5.6%	654,9 k €	+6.8%	613,3 k €	+6.1%	578 k €	+6.1%	544,8 k €	+361%	118,1 k €	+123%	52,9 k €	+1461%	3,4 k €	-89.0%	30,9 k €	+1952%	1,5 k €	+111%	-13,9 k €	+60.3%	-34,9 k €
Total assets	819 k €	-3.0%	844,3 k €	-9.0%	927,6 k €	-6.7%	994,2 k €	-7.8%	1,1 M €	-19.3%	1,3 M €	-4.1%	1,4 M €	-3.2%	1,4 M €	-3.4%	1,5 M €	-2.0%	1,5 M €	-4.1%	1,6 M €	-3.2%	1,6 M €	+25.7%	1,3 M €	-0.4%	1,3 M €	+1.2%	1,3 M €	+39.3%	926,8 k €	+9.3%	847,8 k €	-1.4%	859,7 k €	-12.7%	984,6 k €
Cash	105,7 k €	+135%	44,9 k €	+16.6%	38,5 k €	+120%	17,5 k €	+1927%	863,5 €	-99.5%	178 k €	+20.6%	147,6 k €	+38.0%	106,9 k €	+12.0%	95,5 k €	+43.5%	66,5 k €	-13.8%	77,2 k €	+44.4%	53,4 k €	+25.8%	42,5 k €	+73.8%	24,4 k €	-28.6%	34,2 k €	-65.6%	99,6 k €	+178%	35,8 k €	+1781%	1,9 k €	-95.9%	45,9 k €
Debts	165,1 k €	-26.0%	223 k €	-33.0%	332,6 k €	-22.7%	430,6 k €	-15.5%	509,6 k €	-6.2%	543,6 k €	-16.8%	653,3 k €	-12.5%	746,2 k €	-10.5%	833,6 k €	-7.9%	905,1 k €	-10.0%	1 M €	-7.9%	1,1 M €	-7.8%	1,2 M €	-5.6%	1,3 M €	-2.6%	1,3 M €	+43.7%	895,9 k €	+5.9%	846,3 k €	-3.1%	873,6 k €	-14.3%	1 M €

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 · 2 active · 4 ended

Active mandates

JAN DE VUYST

Director

Active

MARTINE PENNEWAERT

Director

Active

Ended mandates

Jan De Vuyst

Manager · since 13 juillet 2004

Ended

Martine Pennewaert

Manager · since 13 juillet 2004

Ended

JAN DE VUYST

Manager

Ended

MARTINE PENNEWAERT

Manager

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro 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	31/08/2026	17/07/2025	22/07/2024	22/08/2023	29/08/2022	12/08/2021
General meeting	04/06/2026	05/06/2025	06/06/2024	01/06/2023	02/06/2022	03/06/2021
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

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	04/06/2026	31/08/2026	Dutch	PDF
Micro model	31/12/2024	05/06/2025	17/07/2025	Dutch	PDF
Micro model	31/12/2023	06/06/2024	22/07/2024	Dutch	PDF
Micro model	31/12/2022	01/06/2023	22/08/2023	Dutch	PDF
Micro model	31/12/2021	02/06/2022	29/08/2022	Dutch	PDF
Micro model	31/12/2020	03/06/2021	12/08/2021	Dutch	PDF
Micro model	31/12/2019	04/06/2020	19/08/2020	Dutch	PDF
Micro model	31/12/2018	06/06/2019	23/07/2019	Dutch	PDF
Micro model	31/12/2017	07/06/2018	29/08/2018	Dutch	PDF
Micro model	31/12/2016	01/06/2017	28/08/2017	Dutch	PDF
Abridged model	31/12/2015	02/06/2016	29/08/2016	Dutch	PDF
Abridged model	31/12/2014	04/06/2015	20/08/2015	Dutch	PDF
Abridged model	31/12/2013	07/06/2014	16/07/2014	Dutch	PDF
Abridged model	31/12/2012	06/06/2013	14/08/2013	Dutch	PDF
Abridged model	31/12/2011	07/06/2012	28/08/2012	Dutch	PDF
Abridged modelCorrection	31/12/2010	02/06/2011	19/09/2011	Dutch	PDF
Abridged model	31/12/2010	02/06/2011	22/08/2011	Dutch	PDF
Abridged model	31/12/2009	03/06/2010	09/08/2010	Dutch	PDF
Abridged model	31/12/2008	04/06/2009	04/07/2009	Dutch	PDF
Abridged model	31/12/2007	05/06/2008	28/07/2008	Dutch	PDF
Abridged model	31/12/2006	07/06/2007	07/08/2007	Dutch	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 · 2 active · 4 ended

Active mandates

JAN DE VUYST

Director

Active

MARTINE PENNEWAERT

Director

Active

Ended mandates

Jan De Vuyst

Manager · since 13 juillet 2004

Ended

Martine Pennewaert

Manager · since 13 juillet 2004

Ended

JAN DE VUYST

Manager

Ended

MARTINE PENNEWAERT

Manager

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates11/10/2021
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares10/10/2014
KAPITAAL - AANDELEN
PDF
Capital / shares02/10/2012
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Capital / shares22/12/2010
KAPITAAL - AANDELEN
PDF
Other13/09/2004
DIVERSEN
PDF
Other13/08/2004
RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, ENZ...)
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 202532,7 k €↑
2024
Annual accounts 202426,4 k €↓
2023
Annual accounts 202331,3 k €↑
2022
Annual accounts 202230,7 k €↓
2021
Annual accounts 202147,8 k €↓
2020
Annual accounts 202053,3 k €↑
2019
Annual accounts 201946,9 k €↑
2018
Annual accounts 201836,5 k €↓
2017
Annual accounts 201741,6 k €↑
2016
Annual accounts 201635,3 k €↑
2015
Annual accounts 201533,2 k €↑
2014
Annual accounts 201422,9 k €↓
2013
Annual accounts 201365,2 k €↑
2012
Annual accounts 201224,5 k €↑
2011
Annual accounts 2011-27,5 k €↓
2010
Annual accounts 2010-20,6 k €↓
2009
Annual accounts 200915,4 k €↓
2008
Annual accounts 200821 k €↑
2007
Annual accounts 200714,3 k €
05/08/2004
IncorporationPrivate 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

MARJAN

Overview

What does MARJAN do?

Trend over 19 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