Meir Development
ActiveFinancials · financial year 2025, full format
2025 annual accounts filed 5 days after the deadline Filed on 5 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00382775.
Annual accounts 2025 filed on 05-08-2026 at the NBB all 8 filings
Turnover
€0▼ 100%
2020 · €1.9m
EBIT margin
4.6%
Net result
-€20,627▼ 222%
2024 · -€6,407
Working capital
€962,850▲ 140%
2024 · €401,876
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
no figure
2025
20182025
Operating result
-€3,885
▼ 1.8%
2025
20182025
Net result
-€20,627
▼ 222%
2025
middle half of the sector
20182025
EBIT margin
no figure
2025
20182025
Equity
€12,997
▼ 61.3%
2025
lowest quarter of the sector
20182025
Total assets
€2.0m
▲ 20.1%
2025
middle half of the sector
20182025
Debt
€2.0m
▲ 21.8%
2025
20182025
Working capital
€962,850
▲ 140%
2025
middle half of the sector
20182025
Solvency
0.6%
▼ 1.3pp
2025
lowest quarter of the sector
20182025
Current ratio
14.20
▲ 11.83
2025
highest quarter of the sector
20182025
Return on assets (ROA)
-1.0%
▼ 0.6pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€1.9m€0▼ 100%
Operating result-€0.005m--€0.002m▲ 58.6%€0.09m-€0.004m-€0.005m▼ 17.3%-€0.004m▲ 17.5%-€0.004m▲ 10.9%-€0.004m▼ 1.8%
Net result-€0.04m--€0.04m▲ 3.4%€0.06mwithin the sector's middle half-€0.002mwithin the sector's middle half-€0.004mwithin the sector's middle half▼ 66.8%-€0.005mwithin the sector's middle half▼ 10.7%-€0.006mwithin the sector's middle half▼ 39.3%-€0.02mwithin the sector's middle half▼ 222%
EBIT margin4.6%
Equity€0.02m--€0.01m€0.05mbelow the sector's middle half€0.05mbelow the sector's middle half▼ 4.9%€0.04mbelow the sector's middle half▼ 8.5%€0.04mbelow the sector's middle half▼ 10.3%€0.03mbelow the sector's middle half▼ 16.0%€0.01mbelow the sector's middle half▼ 61.3%
Total assets€1.3m-€1.6m▲ 23.7%€1.1mwithin the sector's middle half▼ 29.2%€1.2mwithin the sector's middle half▲ 3.9%€1.3mwithin the sector's middle half▲ 5.9%€1.3mwithin the sector's middle half▲ 2.3%€1.7mwithin the sector's middle half▲ 31.2%€2.0mwithin the sector's middle half▲ 20.1%
Debt€1.3m-€1.6m▲ 27.0%€1.1m▼ 33.0%€1.1m▲ 4.3%€1.2m▲ 6.5%€1.3m▲ 2.8%€1.7m▲ 32.7%€2.0m▲ 21.8%
Working capital€1.2m-€1.6m▲ 31.7%€0.01mwithin the sector's middle half▼ 99.1%€0.07mwithin the sector's middle half▲ 375%€0.1mwithin the sector's middle half▲ 107%€0.2mwithin the sector's middle half▲ 34.4%€0.4mwithin the sector's middle half▲ 112%€1.0mwithin the sector's middle half▲ 140%
Solvency1.8%--0.8%▼ 2.6pp4.5%below the sector's middle half▲ 5.3pp4.1%below the sector's middle half▼ 0.4pp3.5%below the sector's middle half▼ 0.6pp3.1%below the sector's middle half▼ 0.4pp2.0%below the sector's middle half▼ 1.1pp0.6%below the sector's middle half▼ 1.3pp
Current ratio14.93-7.38above the sector's middle half21.24above the sector's middle half▲ 13.8629.23above the sector's middle half2.37within the sector's middle half▼ 26.8514.20above the sector's middle half▲ 11.83
Return on assets (ROA)-2.9%--2.3%▲ 0.6pp5.7%above the sector's middle half▲ 7.9pp-0.2%within the sector's middle half▼ 5.9pp-0.3%within the sector's middle half▼ 0.1pp-0.4%within the sector's middle half=-0.4%within the sector's middle half=-1.0%within the sector's middle half▼ 0.6pp
above
within
below
The sector band is the middle half of the companies in Real estate activities (NACE 68). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a loss of €3,885, larger than the loss of €3,815 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.0m
Fixed assets
€1.0m =
Current assets
€1.0m ▲ 49.1%
Equity and liabilities €2.0m
Equity
€12,997 ▼ 61.3%
Debt
€2.0m ▲ 21.8%
Debt's share of the balance-sheet total rises from 98.0% to 99.4%. Equity is lower and debt is higher.
Key figures and ratios
Quick ratio
2.19▲
2024 · 0.52
ROE
-158.7%▼
2024 · -19.1%
Debt ≤ 1 year
€72,943▼
2024 · €292,703
Debt > 1 year
€1.7m▲
2024 · €1.2m
Supplier credit
80 days▼
2024 · 228 days
A ratio outside any meaningful range has been withheld (balance sheet total €2.0m, equity €12,997).
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Financial fixed assets | - | - | - | - | €0 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Auditor
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Fee for the audit | €1,300 | €1,427 | €1,525 | €1,587 | €1,612 |
| Other work by the auditor | €1,807 | €994 | €1,320 | €737 | €902 |
Source: notes to the 2021 to 2025 annual accounts (relations with the auditor)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €0.01m | €0.01m | €0.05m | €0.5m | €0.3m | ▼ 28.4% |
| Turnover70 | - | - | €1.9m | €0 | - | - | - | - | - |
| Change in stocks of work in progress, finished goods and contracts in progress71 | - | - | - | €0.01m | €0.01m | €0.05m | €0.5m | €0.3m | ▼ 28.4% |
| Operating charges60/66A | - | - | - | €0.02m | €0.02m | €0.05m | €0.5m | €0.3m | ▼ 28.2% |
| Goods for resale, raw materials and consumables60 | - | - | - | €0.01m | €0.01m | €0.05m | €0.5m | €0.3m | ▼ 28.4% |
| Purchases600/8 | - | - | - | €0.01m | €0.01m | €0.05m | €0.5m | €0.3m | ▼ 28.4% |
| Services and other goods61 | - | - | - | €0.004m | €0.004m | €0.003m | €0.003m | €0.003m | ▲ 1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.002m | - | - | - | - | - | - | - | - |
| Other operating charges640/8 | - | - | - | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | ▲ 3.2% |
| Operating profit (loss)9901 | -€0.005m | -€0.002m | €0.09m | -€0.004m | -€0.005m | -€0.004m | -€0.004m | -€0.004m | ▼ 1.8% |
| Financial income75/76B | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | ▼ 4.5% |
| Recurring financial income75 | - | - | €0.01m | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | ▼ 4.5% |
| Income from financial fixed assets750 | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | ▼ 4.5% |
| Other financial income752/9 | - | - | - | €0 | - | - | - | - | - |
| Financial charges65/66B | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.04m | ▲ 44.5% |
| Recurring financial charges65 | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | €0.04m | ▲ 44.5% |
| Debt charges650 | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | €0.04m | ▲ 45.3% |
| Other financial charges652/9 | - | - | - | €257 | €280 | €0.001m | €0.001m | €0.001m | = |
| Profit (loss) for the period before taxes9903 | -€0.04m | -€0.04m | €0.07m | -€0.002m | -€0.004m | -€0.005m | -€0.006m | -€0.02m | ▼ 222% |
| Income taxes67/77 | - | - | €0.002m | €0 | - | - | - | - | - |
| Taxes670/3 | - | - | - | €0 | - | - | - | - | - |
| Profit (loss) for the period9904 | -€0.04m | -€0.04m | €0.06m | -€0.002m | -€0.004m | -€0.005m | -€0.006m | -€0.02m | ▼ 222% |
| Profit (loss) for the period to be appropriated9905 | -€0.04m | -€0.04m | €0.06m | -€0.002m | -€0.004m | -€0.005m | -€0.006m | -€0.02m | ▼ 222% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.3m | €1.6m | €1.1m | €1.2m | €1.3m | €1.3m | €1.7m | €2.0m | ▲ 20.1% |
| Fixed assets21/28 | - | - | €1.1m | €1.1m | €1.1m | €1.1m | €1.0m | €1.0m | = |
| Financial fixed assets28 | - | - | €1.1m | €1.1m | €1.1m | €1.1m | €1.0m | €1.0m | = |
| Companies linked by participating interests282/3 | - | - | - | €1.1m | €1.1m | €1.1m | €1.0m | €1.0m | = |
| Amounts receivable283 | - | - | - | €1.1m | €1.1m | €1.1m | €1.0m | €1.0m | = |
| Current assets29/58 | €1.3m | €1.6m | €0.02m | €0.07m | €0.1m | €0.2m | €0.7m | €1.0m | ▲ 49.1% |
| Stocks and contracts in progress3 | €1.3m | €1.6m | - | €0.01m | €0.02m | €0.07m | €0.5m | €0.9m | ▲ 61.8% |
| Stocks30/36 | - | - | - | €0.01m | €0.02m | €0.07m | €0.5m | €0.9m | ▲ 61.8% |
| Work in progress32 | - | - | - | €0.01m | €0.02m | €0.07m | €0.5m | €0.9m | ▲ 61.8% |
| Amounts receivable within one year40/41 | €0.005m | €0.01m | €68 | €0.004m | €0.007m | €0.02m | €0.02m | €0.004m | ▼ 80.6% |
| Trade receivables40 | - | - | - | - | €175 | €197 | €0 | - | - |
| Other amounts receivable41 | - | - | - | €0.004m | €0.007m | €0.02m | €0.02m | €0.004m | ▼ 80.6% |
| Cash at bank and in hand54/58 | €0.04m | €0.06m | €0.002m | €0.01m | €0.04m | €0.005m | €0.008m | €0.004m | ▼ 49.5% |
| Deferred charges and accrued income490/1 | - | - | - | €0.04m | €0.07m | €0.1m | €0.1m | €0.2m | ▲ 20.1% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.3m | €1.6m | €1.1m | €1.2m | €1.3m | €1.3m | €1.7m | €2.0m | ▲ 20.1% |
| Equity10/15 | €0.02m | -€0.01m | €0.05m | €0.05m | €0.04m | €0.04m | €0.03m | €0.01m | ▼ 61.3% |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Profit (loss) carried forward14 | -€0.04m | -€0.08m | -€0.01m | -€0.01m | -€0.02m | -€0.02m | -€0.03m | -€0.05m | ▼ 74.0% |
| Amounts payable17/49 | €1.3m | €1.6m | €1.1m | €1.1m | €1.2m | €1.3m | €1.7m | €2.0m | ▲ 21.8% |
| Amounts payable after more than one year17 | €1.2m | €1.6m | €1.0m | €1.1m | €1.1m | €1.1m | €1.2m | €1.7m | ▲ 45.0% |
| Financial debts170/4 | - | - | - | €1.1m | €1.1m | €1.1m | €1.2m | €1.7m | ▲ 45.0% |
| Other loans174 | - | - | - | €1.1m | €1.1m | €1.1m | €1.2m | €1.7m | ▲ 45.0% |
| Amounts payable within one year42/48 | €0.09m | €0.01m | €0.002m | €0.003m | €0.001m | €0.007m | €0.3m | €0.07m | ▼ 75.1% |
| Trade debts44 | €0.09m | €0.01m | - | €0.003m | €0.001m | €0.007m | €0.3m | €0.07m | ▼ 75.1% |
| Suppliers440/4 | - | - | - | €0.003m | €0.001m | €0.007m | €0.3m | €0.07m | ▼ 75.1% |
| Taxes, remuneration and social security45 | - | - | - | €0 | - | - | - | - | - |
| Taxes450/3 | - | - | - | €0 | - | - | - | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €0.08m | €0.1m | €0.1m | €0.2m | €0.2m | ▲ 24.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€38,200 | -€36,895 | €64,871 | -€2,490 | -€4,154 | -€4,599 | -€6,407 | -€20,627 | ▼ 222% |
| + Depreciation and write-downs630 | €1,761 | - | - | - | - | - | - | - | - |
| Operating cash flow (approximation) | -€36,439 | -€36,895 | €64,871 | -€2,490 | -€4,154 | -€4,599 | -€6,407 | -€20,627 | ▼ 222% |
| Investment in fixed assets (approximation) | - | - | - | €10,000 | €0 | €25,000 | €95,000 | €0 | ▼ 100% |
| Change in cash | - | €17,634 | -€54,964 | €8,181 | €29,291 | -€34,320 | €3,213 | -€4,168 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 819 companies had the same profile as Meir Development has now. Two years later, 94.7% were still going and 1.8% had gone bankrupt.
- Small
- 5 to 10 years old
- solvency under 10%
- a small loss
94.7%
was still going
3.2%
stopped otherwise
1.8%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of Meir Development itself is lower: 0.2% within 12 months. It rests on far more data about Meir Development than the profile alone.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 819 companies, not a prediction for Meir Development. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Filings with the National Bank (8)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 05-08-2026 | 2026-00382775 | |
| 31-12-2024 | full format | 27-06-2025 | 2025-00202484 | |
| 31-12-2023 | full format | 24-07-2024 | 2024-00278169 | |
| 31-12-2022 | full format | 10-08-2023 | 2023-00323222 | |
| 31-12-2021 | full format | 29-07-2022 | 2022-20256799 | |
| 31-12-2020 | full format | 25-08-2021 | 2021-54700181 | |
| 31-12-2019 | full format | 07-07-2020 | 2020-27500009 | |
| 31-12-2018 | full format | 29-08-2019 | 2019-56400246 |