Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Tight liquidity NBB
Cash and receivables cover 40 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
MARDAGA from As, company number BE0461546289, closed financial year 2025 with a result of € 12,041 after tax. For that financial year MARDAGA recorded a gross margin of € 784,879 and equity of € 2.3 million. Compared with financial year 2024, the result moved from € 59,903 to € 12,041. The company is profitable. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on June 26, 2026.
€ 2.3 million
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 12,041
▼ 80% vs 2024
Profit after tax over the fiscal year.
€ 183,703
▼ 11% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € -46,090.
People and assets in 2025
12.1
▼ 1.8 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 631,750
▲ 8% vs 2024
€ 52,200 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.
€ 11,246
▲ 69% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 1.5 million
▲ € 1.2 million vs 2024
€ 45,025 is repaid this year. At this pace the long-term loan is gone in ≈ 32 years.
€ 519,377
▲ 172% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 99,796
▲ 1% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 718,434 | € 772,164 | € 738,357 | € 784,879 | ▲ 6% |
| Profit after taxes | € -7,124 | € 52,994 | € 59,903 | € 12,041 | ▼ 80% |
| Equity | € 1,053,765 | € 2,242,526 | € 2,301,029 | € 2,311,671 | |
| Total debts | € 825,297 | € 740,869 | € 705,150 | € 2,233,476 | ▲ 217% |
| Cash | € 82,335 | € 77,484 | € 205,380 | € 183,703 | ▼ 11% |
| Land & buildings | € 1,387,939 | € 2,463,818 | € 2,429,205 | € 2,395,223 | ▼ 1% |
| Retained profit | € -171,028 | € -118,033 | € -58,131 | € -46,090 | ▲ € 12,041 |
| Bank debt | € 498,112 | € 387,499 | € 246,984 | € 1,452,121 | ▲ € 1.2 million |
| Balance sheet total | € 1,893,324 | € 2,997,191 | € 3,019,509 | € 4,547,183 | ▲ 51% |
| Employees (FTE) | 13 | 11.7 | 13.9 | 12.1 | ▼ 1.8 |
Key figures of MARDAGA, 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 MARDAGA?
What happened at MARDAGA in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 12,041 (▼ 80% vs 2024). Source: NBB ↗
- Luc Didden became a director. NBB
- Giulio Bruno became a director. NBB
- Group GLJ Invest BV became a director. NBB
- New establishment in As. KBO
- Start of the company according to the CBE. KBO
In short
From € 7,124 loss in 2022 to € 12,041 profit in 2025.
Best year ever: 2024, with € 59,903 profit.
On average € 64,900 of value added per employee in 2025.
Management
The stake of Group GLJ Invest, SHOP EXPERT comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
MARDAGABehind MARDAGA are Luc Didden, Giulio Bruno and Group GLJ Invest BV. The shares are held by Group GLJ Invest (99%) and SHOP EXPERT (0%).
Directors
According to the 2025 annual accounts
since 2025
Giulio Bruno
Director
Also active at: GIULIANO CUCINA TRADIZIONALE ITALIANA, FOOD EXPERT HASSELT, FOOD EXPERT GENT, SHOP EXPERT, Group GLJ Invest
since 2025
since 2025
Shareholders
99%
0%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Stationsstraat 121
3665 As
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 2 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Website
Technologies
Hosting & Email
Email provider
Microsoft 365
Hosting
COMBELL-AS, BE
Website info
Features
Security
Network
Details
- Company number
- 0461.546.289
- VAT number
- BE 0461.546.289
- Registered office
- Stationsstraat 121, 3665 As
- Names & denominations
- MARDAGA
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 26 September 1997
- Peppol
- Active · Active since 8 Dec 2025
- Contact
- hotelmardaga.be
- Activities · NACE
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Hotels en motels, met restaurant
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