MERAPI
ActiveSummary
MERAPI has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €77,796 and a net result of -€20,056. Equity is shrinking by ~11.7% per year across the filed fiscal years. Its solvency ranks better than 12% of 20783 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability33▼-6
Solvency34▼-2
Growth32=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4,000 at 30 days acceptable
Liquidity short (current ratio 0.03 against 0.03 in 2023; short-term debt: 32.8% and cash: 1% of total assets), and 90.6% of the assets are financed with debt.
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Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 62
Relative position
BE, all sectors
reference
Computer programming, consultancy and related activities (NACE 62)
about 64% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
9.4%
Return on assets
-2.4%
Age of the figures
21 mo
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
18192021222324
2018 to 2024 · latest year -€20,056
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 12% of 20783 sector peers (2024).
NBB · sector comparisonPosition among 20783 sector peers
Solvency
better than 12%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 26-06-2025, 35 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
35 d early
2023
44 d early
2022
42 d early
2021
72 d late
2020
5 d late
2019
122 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 13 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 33% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€77,796▼ 20.5%
2023 · €97,852
Total assets
€828,672▼ 3.6%
2023 · €859,540
Net result
-€20,056▼ 19.4%
2023 · -€16,801
Working capital
-€263,793▼ 25.1%
2023 · -€210,914
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€22,417▼ 80.6%€59,517▲ 166%-€28,146-€8,025▲ 71.5%-€8,898▼ 10.9%
Net result€2,653▼ 95.9%-€8,297-€29,489▼ 255%-€16,801▲ 43.0%-€20,056▼ 19.4%
Equity€165,939▲ 1.6%€144,142▼ 13.1%€114,653▼ 20.5%€97,852▼ 14.7%€77,796▼ 20.5%
Total assets€1.2m▼ 8.9%€976,664▼ 16.5%€896,642▼ 8.2%€859,540▼ 4.1%€828,672▼ 3.6%
Debt€1.0m▼ 10.5%€832,522▼ 17.0%€781,988▼ 6.1%€761,687▼ 2.6%€750,876▼ 1.4%
Working capital-€17,752▲ 17.3%-€66,400▼ 274%-€157,995▼ 138%-€210,914▼ 33.5%-€263,793▼ 25.1%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €8,898 in 2024 against €8,025 in 2023; the loss grows.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €828,672
Fixed assets
€820,353 ▼ 3.7%
Current assets
€8,319 ▲ 12.5%
Equity and liabilities €828,672
Equity
€77,796 ▼ 20.5%
Debt
€750,876 ▼ 1.4%
Debt's share of the balance-sheet total rises from 88.6% to 90.6%. Equity and debt are lower.
Key figures and ratios
EBITDA
€22,895▼
2023 · €24,347
Cash flow
€11,737▼
2023 · €15,570
Current ratio
0.03▼
2023 · 0.03
Debt to equity
9.65▲
2023 · 7.78
ROE
-25.8%▼
2023 · -17.2%
ROA
-2.4%▼
2023 · -2.0%
Interest coverage
2.05▼
2023 · 2.77
Debt ≤ 1 year
€272,112▲
2023 · €218,307
Debt > 1 year
€475,820▼
2023 · €543,380
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €52,619 | - | €5,000 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €35,745 | €30,993 | €32,434 | €32,371 | €31,793 | ▼ 1.8% |
| Other operating charges640/8 | - | €8,089 | €2,717 | €2,575 | €1,942 | ▼ 24.6% |
| Non-recurring operating charges66A | - | €800 | - | - | - | - |
| Gross operating margin9900 | €69,860 | €99,399 | €7,005 | €26,921 | €24,837 | ▼ 7.7% |
| Operating profit (loss)9901 | €22,417 | €59,517 | -€28,146 | -€8,025 | -€8,898 | ▼ 10.9% |
| Financial income75/76B | - | €2,443 | €11,478 | - | €0 | - |
| Recurring financial income75 | €12,166 | €2,443 | €11,478 | - | €0 | - |
| Financial charges65/66B | - | €46,521 | €8,387 | €8,777 | €11,158 | ▲ 27.1% |
| Recurring financial charges65 | €30,038 | €46,521 | €8,387 | €8,777 | €11,158 | ▲ 27.1% |
| Profit (loss) for the period before taxes9903 | €4,545 | €15,439 | -€25,054 | -€16,801 | -€20,056 | ▼ 19.4% |
| Income taxes67/77 | €1,892 | €23,735 | €4,434 | - | - | - |
| Profit (loss) for the period9904 | €2,653 | -€8,297 | -€29,489 | -€16,801 | -€20,056 | ▼ 19.4% |
| Profit (loss) for the period to be appropriated9905 | €2,653 | -€8,297 | -€29,489 | -€16,801 | -€20,056 | ▼ 19.4% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.2m | €976,664 | €896,642 | €859,540 | €828,672 | ▼ 3.6% |
| Fixed assets21/28 | €1.1m | €894,622 | €882,665 | €852,147 | €820,353 | ▼ 3.7% |
| Tangible fixed assets22/27 | €1.0m | €876,972 | €865,015 | €834,497 | €802,703 | ▼ 3.8% |
| Land and buildings22 | - | €873,734 | €863,010 | €833,477 | €802,091 | ▼ 3.8% |
| Furniture and vehicles24 | - | €3,238 | €2,005 | €1,020 | €613 | ▼ 39.9% |
| Financial fixed assets28 | €17,650 | €17,650 | €17,650 | €17,650 | €17,650 | = |
| Current assets29/58 | €113,745 | €82,042 | €13,977 | €7,393 | €8,319 | ▲ 12.5% |
| Amounts receivable within one year40/41 | €40,379 | €61,511 | €7,138 | €2,104 | €204 | ▼ 90.3% |
| Trade receivables40 | - | €35,819 | €5,624 | €1,900 | - | - |
| Other amounts receivable41 | - | €25,692 | €1,514 | €204 | €204 | = |
| Cash at bank and in hand54/58 | €48,780 | €19,496 | €6,839 | €5,289 | €8,115 | ▲ 53.4% |
| Deferred charges and accrued income490/1 | - | €1,036 | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.2m | €976,664 | €896,642 | €859,540 | €828,672 | ▼ 3.6% |
| Equity10/15 | €165,939 | €144,142 | €114,653 | €97,852 | €77,796 | ▼ 20.5% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €82,160 | €68,660 | €68,660 | €68,660 | €68,660 | = |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | €66,800 | €66,800 | €66,800 | €66,800 | = |
| Profit (loss) carried forward14 | €65,179 | €56,882 | €27,393 | €10,592 | -€9,464 | ▼ 189% |
| Amounts payable17/49 | €1.0m | €832,522 | €781,988 | €761,687 | €750,876 | ▼ 1.4% |
| Amounts payable after more than one year17 | €870,840 | €684,079 | €610,016 | €543,380 | €475,820 | ▼ 12.4% |
| Financial debts170/4 | - | €682,079 | €608,016 | €541,380 | €473,820 | ▼ 12.5% |
| Other amounts payable178/9 | - | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Amounts payable within one year42/48 | €131,497 | €148,443 | €171,972 | €218,307 | €272,112 | ▲ 24.6% |
| Current portion of amounts payable after more than one year42 | - | €67,394 | €65,725 | €66,636 | €67,560 | ▲ 1.4% |
| Trade debts44 | €23,766 | €29,790 | €8,212 | €10,078 | €575 | ▼ 94.3% |
| Suppliers440/4 | - | €29,790 | €8,212 | €10,078 | €575 | ▼ 94.3% |
| Taxes, remuneration and social security45 | - | €10,084 | €6,596 | - | - | - |
| Taxes450/3 | - | €10,084 | €6,596 | - | - | - |
| Other amounts payable47/48 | - | €41,175 | €91,439 | €141,593 | €203,977 | ▲ 44.1% |
| Accrued charges and deferred income492/3 | - | - | - | - | €2,945 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2,653 | -€8,297 | -€29,489 | -€16,801 | -€20,056 | ▼ 19.4% |
| + Depreciation and write-downs630 | €35,745 | €30,993 | €32,434 | €32,371 | €31,793 | ▼ 1.8% |
| Operating cash flow (approximation) | €38,398 | €22,696 | €2,945 | €15,570 | €11,737 | ▼ 24.6% |
| Investment in fixed assets (approximation) | - | €130,027 | -€20,477 | -€1,853 | €0 | ▲ 100% |
| Change in cash | - | -€29,284 | -€12,657 | -€1,550 | €2,826 | ▲ 282% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2025
26-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
17-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
19-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet -€29,489
Net result drops to -€29,489, the lowest in the series; recovery starts the following year.
11-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 72 days late
2021
05-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 5 days late
2020
30-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 122 days late
2019
31-12
Financial
Back to profitnet €64,157
Net result €64,157 after one loss-making year.
31-12
Financial
Equity above €150,000Eq €163,286 ▲9.5%
Equity rises from €149,130 to €163,286.
14-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 14 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 31 days late
2016
27-09
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 58 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
4 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Elsene · 1 establishment unit since 2003
Ground area
272 m²
Building footprint
158 m²
Volume, LiDAR
1,881 m³
Parcel 21445C0292/00T002, Brussels · tallest building 14.7 m, ±4 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
MERAPI
since 20032.132.144.132
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21445C0292/00T002 | Brussels | 272 m² | 1 · 158 m² | 14.7 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
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BE 0805.105.146
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BI ARCHITECT
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Of 30,002 companies in sector 62200 we hold annual accounts for 18,394. 15,583 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded25-06-2002
Fiscal year end31-12
Activities, NACEBEL 2025
62200Computer consultancy and computer facilities management
69209Other tax advisory services
Scores and ratios are computed by Checked and are not a credit decision.