Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Negative equity NBB
More debt than assets in 4 of the last 4 fiscal years.
-
Tight liquidity NBB
Cash and receivables cover 59 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
MARINA from Ukkel, company number BE0466607018, closed financial year 2025 with a result of € 1.5 million after tax. For that financial year MARINA recorded a gross margin of € 1.4 million and equity of € -26.6 million. Compared with financial year 2024, the result moved from € 1.2 million to € 1.5 million. Profitable, and profit is growing. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on June 16, 2026.
€ -26.6 million
▲ € 1.5 million vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 1.5 million
▲ 34% vs 2024
Profit after tax over the fiscal year.
€ 4,091
▼ 98% 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 € -186.8 million.
Debts at end 2025
€ 79.1 million
▼ 18% vs 2024
Loans from banks and other lenders, long and short.
€ 137,540
▲ 7% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 43,042
▼ 49% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 834,395 | € 1,617,653 | € 1,456,326 | € 1,382,454 | ▼ 5% |
| Profit after taxes | € 589,987 | € 12,131,441 | € 1,151,272 | € 1,540,936 | ▲ 34% |
| Equity | € -41,424,921 | € -29,293,481 | € -28,142,209 | € -26,601,273 | ▲ € 1.5 million |
| Total debts | € 91,409,412 | € 84,319,586 | € 99,911,922 | € 81,421,035 | ▼ 19% |
| Cash | € 346,313 | € 1,026,816 | € 174,652 | € 4,091 | ▼ 98% |
| Retained profit | € -201,671,091 | € -189,539,651 | € -188,388,379 | € -186,847,444 | ▲ € 1.5 million |
| Bank debt | € 89,069,270 | € 81,386,414 | € 96,511,329 | € 79,124,070 | ▼ 18% |
| Balance sheet total | € 49,984,491 | € 55,026,105 | € 71,769,713 | € 54,819,761 | ▼ 24% |
Key figures of MARINA, 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 MARINA?
What happened at MARINA in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Marc GROSMAN stepped down as director. NBB
- Antoinette FREDEAU-GROSMAN stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 1.5 million (▲ 34% vs 2024). Source: NBB ↗
- Marc GROSMAN became a director. NBB
- Antoinette FREDEAU-GROSMAN became a director. NBB
- New establishment in Elsene. KBO
- Start of the company according to the CBE. KBO
In short
From € 589,987 profit in 2022 to € 1.5 million profit in 2025.
Paid € 63,715 in corporate taxes since 2022.
Best year ever: 2023, with € 12.1 million profit.
A new publication or filing at MARINA? We notify you, reason included.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The shares are held by FIRST CIRCLE SRL (31.1%). It owns 100% of 7X, 49.5% of Luxsorg SA, 43.5% of Celio International and 32.5% of Belsorg itself.
Directors
According to the 2025 annual accounts
since 2023 · until 2029
since 2023 · until 2029
Shareholders
31.1%
Participations
Establishments
Establishment units
Physical locations of this company
Hamoirlaan 23A
1180 Ukkel
Dalstraat 18
1050 Elsene
Active since 23 December 1999
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 6 companies are registered at this address.
All companies at this address →FIRST CIRCLE same network
€ -16,785 gross margin · 2025
Explorers
Marlow
DUREVAL CORP same network
€ -155,959 gross margin · 2025
7X same network
€ -5,574 gross margin · 2025
+1 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0466.607.018
- VAT number
- BE 0466.607.018
- Registered office
- Hamoirlaan 23A, 1180 Ukkel
- Names & denominations
- MARINA
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 26 July 1999
- Peppol
- Active · Active since 8 Dec 2025
- Activities · NACE
Activiteiten van holdings
Holdings
Verstrekken van hypothecair krediet
Verstrekken van verbruikskrediet
Overige kredietverstrekking n.e.g.