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MERCELIS 39

Active
Private limited companyfounded 199431 yrs activeMercelisstraat 39, 1050 Elsene, BelgiumKBO/BCE: BE 0454.218.039
Summary

MERCELIS 39 has been active since 1994 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€305,137) and a net result of €31,428. Equity is shrinking by ~4.7% per year across the filed fiscal years. Its solvency ranks better than 7% of 11607 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).

Risk analysisWatch ReportCompare
MERCELIS 39ActiveChecked score 54/100
Risk analysis ReportCompare

Overview

Activity
Activities of building architects
NACE 71111Photography, excluding press photography NACE 74201
1 site
Size
€1.3mtotal assets 2025
Equity
-€305,137
Profit
€31,428
Turnover not published (abridged schema)
Financial health
54 Fair Checked score 2025
Bankruptcy chance 12 m
0.2%
Structure
Accounts 24 d early0 of 2 deeds read
Why 54Capped at 59: negative equity- Negative equity -€305,137+ Size: total assets €1.3m+ Sector Architectural and engineering activities; technical testing and analysis (NACE 71)+ Figures for FY 2025 (filed 07-07-2026)Show the evidence

Checked score

Score 2025
54 / 100
Fair
Probability in this band: 1.5% to 4.2%
Better than 23% of its sector peers (NACE 71, micro)
Performance against the sector, not lower risk
Negative equity caps the score at 59. Every signal that weighs is under Signals.
Financial strength · tick = 2024
Weak
Solvency 2+2
equity -23.4% of total assets
Liquidity 8=
short-term debt 82.9% · cash 3.2%
Profitability 62-4
return on assets 2.4%
Bankruptcy probability, 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%

About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.1% (14,788 companies)
Last 24 months 11-2024: 0.4% 12-2024: 0.4%● 0.0% vs 11-2024 01-2025: 0.4%▲ +1.1% vs 12-2024 02-2025: 0.4%▲ +5.4% vs 01-2025 03-2025: 0.4%▼ -2.8% vs 02-2025 04-2025: 0.4%● 0.0% vs 03-2025 05-2025: 0.4%▲ +11.6% vs 04-2025 06-2025: 0.4%▼ -5.0% vs 05-2025 07-2025: 0.5%▲ +33.3% vs 06-2025 08-2025: 0.7%▲ +36.2% vs 07-2025highest value 09-2025: 0.3%▼ -64.5% vs 08-2025 10-2025: 0.3%● 0.0% vs 09-2025 11-2025: 0.3%● 0.0% vs 10-2025 12-2025: 0.3%● 0.0% vs 11-2025 01-2026: 0.3%● 0.0% vs 12-2025 02-2026: 0.3%▲ +5.4% vs 01-2026 03-2026: 0.3%▼ -2.6% vs 02-2026 04-2026: 0.3%● 0.0% vs 03-2026 05-2026: 0.3%▲ +12.8% vs 04-2026 06-2026: 0.3%▼ -3.7% vs 05-2026 07-2026: 0.3%▲ +17.0% vs 06-2026 08-2026: 0.2%▼ -29.6% vs 07-2026lowest value 09-2026: 0.2%● 0.0% vs 08-2026lowest value 10-2026: 0.2%● 0.0% vs 09-2026lowest value
  • Size: total assets €1.3m lowers the probability for this profile
  • Negative equity -€305,137 raises the probability
  • Sector Architectural and engineering activities; technical testing and analysis (NACE 71) lowers the probability
  • Figures for FY 2025 (filed 07-07-2026) lowers the probability
No credit on open account
Liquidity short (current ratio 0.05 against 0.04 in 2024; short-term debt: 82.9% and cash: 3.2% of total assets), and equity is negative.
How it is calculated

The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.

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%

Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 71, micro). Better than this share of them on solvency 6%, liquidity 4%, profitability 25%, growth against the median 56%. That is performance, not lower risk; the band itself always comes from the probability.

Bankruptcy probability: model pd-v3.202610021621, computed on 05-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.

Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.

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Signals

Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Size: total assets €1.3m
In the bankruptcy model this factor lowers the probability for this profile.
NBB · annual accounts
raises risk · Negative equity -€305,137
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
lowers risk · Sector Architectural and engineering activities; technical testing and analysis (NACE 71)
In the bankruptcy model this factor lowers the probability.
KBO
lowers risk · Figures for FY 2025 (filed 07-07-2026)
In the bankruptcy model this factor lowers the probability.
NBB · annual accounts
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 7% of 11607 sector peers (2025).
NBB · sector comparison
Position among 11607 sector peers
Solvency
better than 7%
← weakest strongest →
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 07-07-2026, 24 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
24 d early
2024
28 d late
2023
28 d early
2022
29 d late
2021
31 d late
2020
30 d late
2019
24 d late
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 13 days after the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 34% of the sector filed late.

Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 28 August (4 of the last 5 filed years within 52 days of that day).
Companies Code · seven months
Position in the running window
06-10-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage
  1. Annual accounts filedfiscal year 2025 · micro…
  2. Annual accounts filedfiscal year 2024 · micro…
  3. Back to profitnet €43,361

Key points

  • Risk: Negative equityfiscal year 2025: debts exceed assets -€305,137 View
  • Caution: Among the weakest 5% on equitysector median €63,785 · 11,611 companies -€305,137 View
  • Active since 1994founded 26-12-1994 31 years View

By topic

Financials

Fiscal year
2025
Total assets
€1.3m
Profit
€31,428
Solvency
-23.4%
Total assets▼ 3.8%
Net result
20182025
Go to Financials

Timeline

Events
12
Since
2017
Next accounts
by 31-07-2027
  1. 07-07-2026Annual accounts filed
  2. 28-08-2025Annual accounts filed
  3. 31-12-2024Back to profit
Go to Timeline

Company details

Sites
1
Legal form
Private limited company
Activity
Activities of building architectsNACE 71111
Founded
26-12-1994
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

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