MARSH is registered with the CBE as active in: Verzekeringsmakelaars en -agenten. Public Limited, started on 5 January 1950, 5 establishments.

What is the address of MARSH?

The registered office of MARSH is located at Herrmann-Debrouxlaan 2, 1160 Oudergem.

Is MARSH still active?

Yes. According to the CBE (29 October 2026) MARSH is active, legal situation “Normale toestand”, started on 5 January 1950.

Is MARSH registered on Peppol?

Yes, MARSH is registered on the Peppol network with ID 0208:0403276906.

What is the enterprise number of MARSH?

The enterprise number of MARSH is BE0403276906.

When was MARSH founded?

MARSH was founded on 5 January 1950.

Who are the directors of MARSH?

According to the 2025 annual accounts, the directors of MARSH are: Erik POEPLOW, GOEDELE VAN DER LINDEN, Kristof DE BREMME, JEAN-FRANCOIS TONDREAU.

Is MARSH a reliable company?

Databakkes does not pass judgement; this is what the sources say: Active according to the CBE since 5 January 1950; 6 annual accounts filed, latest fiscal year 2025; 4 directors known from the annual account; 5 establishments in the CBE.

How much profit did MARSH make in 2025?

MARSH posted a profit after taxes of € 4,849,026 in financial year 2025.

What is the revenue of MARSH?

In its most recent annual accounts (2025), MARSH reported revenue of € 129,712,638.

How much does an employee at MARSH earn?

The average wage cost per full-time employee at MARSH was € 144,400 in 2025: staff costs of € 38.5 million for 266.2 FTE, according to the annual account at the National Bank. That is the employer's cost, not net pay.

How many employees does MARSH have?

According to the 2025 annual accounts, MARSH has 266.2 full-time equivalents (FTE).

MARSH (Public Limited) - Oudergem - BE0403276906

Dossier MARSH, printed on 29 October 2026 from databakkes.be/en/0403276906/marsh. Sources: CBE, National Bank of Belgium, Belgian Official Gazette.

Warning lights

Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.

Shrinking team NBB

FTE fell two years in a row, from 320.6 to 266.2.

Financials

Financial year 2025

MARSH from Oudergem, company number BE0403276906, closed financial year 2025 with a result of € 4.8 million after tax. For that financial year MARSH recorded revenue of € 129.7 million and equity of € 56.6 million. Compared with financial year 2024, the result moved from € 20.2 million to € 4.8 million. The company is profitable. The company holds a healthy buffer. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on September 24, 2026.

What it is worth Healthy

€ 56.6 million

▼ 37% vs 2024

Assets minus debts, by the books. What is left if everything were sold and paid today.

Profit Healthy

€ 4.8 million

▼ 76% vs 2024

Profit after tax over the fiscal year.

Cash in the bank

€ 154.4 million

▼ 23% vs 2024

Cash and bank balances on the last day of the fiscal year.

Where the profit goes Growing

Stays in the company

No dividend for 2025. Retained profit grew to € 41.7 million.

People and assets in 2025

Full-time equivalents

266.2

▼ 10.2 vs 2024

Average over the fiscal year, from the social balance sheet.

Wage cost Staff costs are payroll only. Director pay sits with services and miscellaneous goods: € 74.3 million in 2025, together with rent, insurance, accountants and other services. The accounts do not split that further.

€ 38.5 million

▼ 3% vs 2024

€ 144,400 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.

Vehicles and equipment

€ 416,467

▼ 30% vs 2024

Book value of vehicles, furniture and equipment.

Debts at end 2025

Bank debt

None

No bank loans on the last day of the fiscal year.

Owed to suppliers

€ 375.9 million

▼ 18% vs 2024

Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 1846 days on average.

Taxes and wages

€ 20 million

▼ 17% vs 2024

Taxes, VAT and social contributions still to pay.

Key figures per fiscal year Download key figures (CSV)
	2022	2023	2024	2025	Change 2024 → 2025
Revenue	€ 160,818,488 Revenue 2022: € 160,818,488 First fiscal year in the series	€ 160,811,540 Revenue 2023: € 160,811,540 Unchanged (€ 160,818,488) Unfavourable step	€ 145,546,391 Revenue 2024: € 145,546,391 ▼ 9% vs 2023 (€ 160,811,540) Unfavourable step	€ 129,712,638 Revenue 2025: € 129,712,638 ▼ 11% vs 2024 (€ 145,546,391) Unfavourable step	▼ 11%
Profit after taxes	€ 8,053,565 Profit after taxes 2022: € 8,053,565 First fiscal year in the series	€ 87,162,615 Profit after taxes 2023: € 87,162,615 ▲ € 79.1 million vs 2022 (€ 8,053,565) Favourable step	€ 20,220,459 Profit after taxes 2024: € 20,220,459 ▼ 77% vs 2023 (€ 87,162,615) Unfavourable step	€ 4,849,026 Profit after taxes 2025: € 4,849,026 ▼ 76% vs 2024 (€ 20,220,459) Unfavourable step	▼ 76%
Equity	€ 164,437,686 Equity 2022: € 164,437,686 First fiscal year in the series	€ 146,196,773 Equity 2023: € 146,196,773 ▼ 11% vs 2022 (€ 164,437,686) Unfavourable step	€ 89,453,017 Equity 2024: € 89,453,017 ▼ 39% vs 2023 (€ 146,196,773) Unfavourable step	€ 56,550,024 Equity 2025: € 56,550,024 ▼ 37% vs 2024 (€ 89,453,017) Unfavourable step	▼ 37%
Total debts	€ 581,272,746 Total debts 2022: € 581,272,746 First fiscal year in the series	€ 615,073,887 Total debts 2023: € 615,073,887 ▲ 6% vs 2022 (€ 581,272,746) Unfavourable step	€ 537,431,649 Total debts 2024: € 537,431,649 ▼ 13% vs 2023 (€ 615,073,887) Favourable step	€ 403,575,402 Total debts 2025: € 403,575,402 ▼ 25% vs 2024 (€ 537,431,649) Favourable step	▼ 25%
Cash	€ 232,522,822 Cash 2022: € 232,522,822 First fiscal year in the series	€ 237,737,344 Cash 2023: € 237,737,344 ▲ 2% vs 2022 (€ 232,522,822) Favourable step	€ 201,300,530 Cash 2024: € 201,300,530 ▼ 15% vs 2023 (€ 237,737,344) Unfavourable step	€ 154,361,963 Cash 2025: € 154,361,963 ▼ 23% vs 2024 (€ 201,300,530) Unfavourable step	▼ 23%
Retained profit	€ 1,237,152 Retained profit 2022: € 1,237,152 First fiscal year in the series	€ 88,399,768 Retained profit 2023: € 88,399,768 ▲ € 87.2 million vs 2022 (€ 1,237,152) Favourable step	€ 74,585,183 Retained profit 2024: € 74,585,183 ▼ 16% vs 2023 (€ 88,399,768) Unfavourable step	€ 41,682,190 Retained profit 2025: € 41,682,190 ▼ 44% vs 2024 (€ 74,585,183) Unfavourable step	▼ 44%
Bank debt	€ 15,827,777 Bank debt 2022: € 15,827,777 First fiscal year in the series	€ 16,022,775 Bank debt 2023: € 16,022,775 ▲ 1% vs 2022 (€ 15,827,777) Unfavourable step	€ 0 Bank debt 2024: € 0 ▼ 100% vs 2023 (€ 16,022,775) Favourable step	€ 0 Bank debt 2025: € 0 Unchanged (€ 0) Unchanged
Balance sheet total	€ 747,473,060 Balance sheet total 2022: € 747,473,060 First fiscal year in the series	€ 764,170,358 Balance sheet total 2023: € 764,170,358 ▲ 2% vs 2022 (€ 747,473,060) Unchanged	€ 629,076,237 Balance sheet total 2024: € 629,076,237 ▼ 18% vs 2023 (€ 764,170,358) Unchanged	€ 460,465,092 Balance sheet total 2025: € 460,465,092 ▼ 27% vs 2024 (€ 629,076,237) Unchanged	▼ 27%
Employees (FTE)	343.2 Employees (FTE) 2022: 343.2 First fiscal year in the series	320.6 Employees (FTE) 2023: 320.6 ▼ 22.6 vs 2022 (343.2) Unchanged	276.4 Employees (FTE) 2024: 276.4 ▼ 44.2 vs 2023 (320.6) Unchanged	266.2 Employees (FTE) 2025: 266.2 ▼ 10.2 vs 2024 (276.4) Unchanged	▼ 10.2

Key figures of MARSH, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.

What happened to MARSH?

What happened at MARSH in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:

2031 Erik POEPLOW stepped down as director. NBB
2030 Kristof DE BREMME stepped down as director. NBB
Sep 24, 2026 New annual accounts for financial year 2025: profit of € 4.8 million (▼ 76% vs 2024). filed late Source: NBB ↗
2026 GOEDELE VAN DER LINDEN stepped down as director. NBB
2026 JEAN-FRANCOIS TONDREAU stepped down as director. NBB
2025 Erik POEPLOW became a director. NBB
2024 Kristof DE BREMME became a director. NBB
2020 GOEDELE VAN DER LINDEN became a director. NBB

In short

From € 8.1 million profit in 2022 to € 4.8 million profit in 2025.

Paid € 15.8 million in corporate taxes since 2022.

Best year ever: 2023, with € 87.2 million profit.

Original PDFs at the National Bank ↗

Management

Calm Treasury Holdings Limited 100%

MARSH

The shares are held by Calm Treasury Holdings Limited (100%).

Directors

According to the 2025 annual accounts

Erik POEPLOW

Director

since 2025 · until 2031

GOEDELE VAN DER LINDEN

Director

since 2020 · until 2026

Kristof DE BREMME

Managing director

Also active at: MERCER (BELGIUM)

since 2024 · until 2030

JEAN-FRANCOIS TONDREAU

Director

Also active at: MERCER (BELGIUM)

since 2020 · until 2026

Shareholders

Calm Treasury Holdings Limited

100%

Participations

No participations in other companies reported.

Establishments

Establishment units

Physical locations of this company

Registered office

Herrmann-Debrouxlaan 2

1160 Oudergem

2.052.019.063

Raymonde de Larochelaan 13

9051 Gent

Active since 20 March 1991

2.117.387.957

Uitbreidingstraat 72

2600 Antwerpen

Active since 1 January 1967

2.117.388.155

Bld Emile-de-Laveleye 191

4020 Liège

Active since 3 January 1983

2.142.766.919

Kwadestraat 149 box 1

8800 Roeselare

Active since 1 April 2004

Who else lives here?

A building full of entrepreneurs or one very busy letterbox? Another 5 companies are registered at this address.

All companies at this address →

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€ 9.8 million gross margin · 2025

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€ 8 million revenue · 2024

Oliver Wyman

€ 20 million revenue · 2025

Leexi

€ 2.2 million gross margin · 2025

What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.

Details

Company number

0403.276.906

VAT number

BE 0403.276.906

Registered office

Herrmann-Debrouxlaan 2, 1160 Oudergem

Names & denominations

MARSH

Enterprise type

Rechtspersoon

Legal form

Public limited company

Legal situation

Normale toestand

Start date

5 January 1950

Peppol

Active · Active since 29 Dec 2025

Activities · NACE

Verzekeringsmakelaars en -agenten

Activiteiten van verzekeringsagenten en -makelaars

Overige advisering in verband met programmatuur en levering van programmatuur

Ontwerpen van computerprogramma’s

Ontwerpen en programmeren van computerprogramma's

View on CBE Public ↗ Annual accounts (NBB) ↗

MARSH

Warning lights

Financials

What happened to MARSH?

Management

Directors

Shareholders

Participations

Establishments

Establishment units

Who else lives here?

Details

Frequently asked questions