Liquidity
4.14 was 2.05 in 2024
Short-term debts fell from €1.8m to €1.1m.
MERCATOR
Lifetime
20 annual accounts with figures on one time axis, 29 filings since 1997peak €300,957 (2009)
€126,232▲ 43.2%
lowest -€561,765 (2022)
€911,195▲ 3.7%
peak €7.9m (2025)
€7.9m▲ 13.0%
€2.1m▼ 2.2%
peak 2 FTE (2023)
2 FTEunchanged
Board4 names since 2021
3 directorsGABRIEL Ariane Joseph Hedwige and 2 others
Owners
17.88%HIG GmbH
Documentsfilings and deeds
23-07-20268 days before the deadline
2025abbreviated format
Gross margin from €88,155 to €126,232Equity from €7.0m to €7.9mCash from €196,282 to €1.1m
Key points
from the 2025 annual accountsFilings
29 annual accounts since 1997
Seven of the last ten came late. The 2019 accounts came latest: 88 days after the end of the period.
Position in the sector
€911,195
Higher net result than 95% of companies in forestry. Sector median €19,354 · 145 companies.
Checked score
95
Excellent
Financially stronger than 62% of micro companies in forestry (NACE 02)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
< 0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 532 companies (NACE 02, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.2%
01-2025: 0.2%● unchanged vs 12-2024
02-2025: 0.2%● unchanged vs 01-2025
03-2025: 0.2%● unchanged vs 02-2025
04-2025: 0.2%● unchanged vs 03-2025highest value
05-2025: 0.2%● unchanged vs 04-2025
06-2025: 0.2%● unchanged vs 05-2025
07-2025: 0.1%▼ -0.1 percentage points vs 06-2025
08-2025: 0.1%● unchanged vs 07-2025
09-2025: 0.1%● unchanged vs 08-2025
10-2025: 0.1%● unchanged vs 09-2025
11-2025: 0.1%● unchanged vs 10-2025
12-2025: 0.1%● unchanged vs 11-2025
01-2026: 0.1%● unchanged vs 12-2025
02-2026: 0.1%● unchanged vs 01-2026
03-2026: 0.1%● unchanged vs 02-2026
04-2026: 0.1%● unchanged vs 03-2026
05-2026: 0.1%● unchanged vs 04-2026
06-2026: 0.1%● unchanged vs 05-2026
07-2026: 0.1%● unchanged vs 06-2026
08-2026: < 0.1%▼ -0.1 percentage points vs 07-2026lowest value
09-2026: < 0.1%● unchanged vs 08-2026lowest value
10-2026: < 0.1%● unchanged vs 09-2026lowest value
11-2026: < 0.1%● unchanged vs 10-2026lowest value
Financial strengthStrong
Score breakdown
lowers risk
Size: 2 FTE, total assets €10.0m
Equity €7.9m (79.4% of total assets)
Sector: Forestry and logging (NACE 02)
Figures for financial year 2025 (filed on 23-07-2026)
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 02, micro). It does better than 90% of them on solvency, 69% on liquidity, 23% on profitability and 68% on growth.
The bankruptcy probability was computed on 06-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 31,368 companies had the same profile as MERCATOR has now. Each dot stands for 79 companies, two years later.
93.5%
were still trading
5.9%
stopped another way
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MERCATOR itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,447 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 31,368 companies, not a prediction for MERCATOR. 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.
Credit verdict
Credit of up to €750,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 4.14 (2.05 in 2024), above the usual 1.5. Short-term debt is 11.3% and cash 10.5% of total assets. 20.6% of the assets are financed with debt and provisions.
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Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
5 signals, none raises the risk
Five signals.
lowers riskneutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 23-07-2026, 8 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
8 days early
2024
35 days early
2023
5 days early
2022
31 days late
2021
29 days late
2020
30 days late
2019
88 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 19 days after the deadline. In the sector (NACE 02), the median for financial year 2024 was 6 days before the deadline, and 37% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 27 July (4 of the last 5 accounts filed within 33 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
07-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
Shares in 10 companies, including AMB Handelsgesellschaft and DHG GMBH
Board & ownershipRecent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0460675962
Capital increase to €1,270,000
Capital from €18,591.01 to €1,270,000, 5,048 new shares · Appointment: F.C.G. – Réviseurs d’entreprises S.R.L. (betriebsrevisor) · Thomas HAAS is a shareholder · General meeting of 06-12-2022 · Gazette deed
Satzungen (Uebersetzung, Koordination, Andere Aenderungen, ) - Gegenstand
“Die Beteiligung an Firmen im In- und Ausland, als Verwalter von anderen Gesellschaften auftreten, Ausführung…” (deed in German) · Gazette deed
2 directors appointed
Change of role: Thomas HAAS, from manager to director · Appointments: HAAS Norbert Simon (director) and GABRIEL Ariane Joseph Hedwige (director) · General meeting of 01-06-2021 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| MERCATOR Bullange | €10.0m | €126,232 | 79.4% | 2 |
| DOMEIN MUNKEBOSSEN Brussels | €7.5m | €85,094 | 49.6% | 2 |
| Blommerschot Karel Mintjens Malle | €5.4m | €211,947 | 52.3% | 2 |
| SOCIETE DU NEVIAUX Uccle | €10.1m | €77,224 | 98.9% | 1.1 |
| HOLZ NIESSEN Amblève | €10.0m | €60,995 | 88.0% | 1 |
| COMPTOIR COMMERCIAL DU BOIS Eupen | €3.0m | €246,209 | 75.9% | 2.5 |
| HAJO WOODWORK Butgenbach | €6.1m | €406,036 | 85.1% | 4.8 |
These companies have the same main activity as MERCATOR: logging (NACE 02200). They are comparable in size and age: total assets between €3m and €10m, founded between 1983 and 2004.
Official details
Source: KBO- Status
- Active since 16-05-1997Normal situation
- Activity
- LoggingNACE 02200and 5 others
- Establishment unit
- 2.081.920.8964760 Bullange, since 22-05-1997
- Financial year end
- 31 December
- Peppol
- Reachable since 13-11-2025
Annual accounts 2025
- ≈ €320,000estimated
- €10.0m▲ 9.5%
- Employeeson 31-12-2025
- 2=
- Filing
- Filed on 23-07-2026, 8 days before the end of the filing period
Companies linked to MERCATOR
Subsidiaries and holdings
Insights on MERCATOR
MERCATOR files the abbreviated format. That format states no turnover. The gross margin rose from €70,911 in 2006 to €126,232 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about MERCATOR
- What is the company number of MERCATOR?
- The company number of MERCATOR is 0460.675.962. The VAT number is the same number with BE in front: BE 0460.675.962.
- Where is MERCATOR based?
- The registered office is at Lanzerath 108, 4760 Bullange.Company details
- What does MERCATOR do?
- According to the KBO register, the main activity is logging (NACE 02200).
- What is the legal form of MERCATOR?
- MERCATOR is a private limited company (BV).
- When was MERCATOR founded?
- MERCATOR was founded on 16-05-1997.
- Is MERCATOR still active?
- Yes, MERCATOR is an active enterprise in the KBO register.
- How many employees does MERCATOR have?
- MERCATOR had an average of 2 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- What is the turnover of MERCATOR?
- The turnover in financial year 2025 is ≈ €320,000. This figure is estimated from the gross margin of €126,232 and 1,646 comparable companies of the same size. It probably lies between €200,000 and €600,000. It is a rough estimate. In financial year 2021 turnover was €288,305.
- Is MERCATOR profitable?
- In financial year 2025, MERCATOR made a profit of €911,195.
- Where can I find the annual accounts of MERCATOR?
- MERCATOR filed 29 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of MERCATOR due?
- MERCATOR must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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