MERCO
ActiveSummary
MERCO has been active since 1997 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show negative equity (€-7k) and a net result of €49. Equity is shrinking by ~41.4% per year across the filed fiscal years. Its solvency ranks better than 5% of 37953 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability39▼-39
Solvency0=
Growth58=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.71 against 0.69 in 2023; short-term debt: 122.5% and cash: 66.7% of total assets), and equity is negative.
Credit check for your own amount and term
Signals
Six 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 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
-51.8%
Return on assets
0.4%
Age of the figures
21 mo
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 · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 37953 sector peers (2024).
NBB · sector comparisonPosition among 37953 sector peers
Solvency
better than 5%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 01-08-2025, 1 day later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
1 d late
2023
30 d late
2022
15 d late
2021
21 d late
2020
5 d early
2019
89 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€-7k▲ 0.7%
2023 · €-7k
Total assets
€14k▼ 1.1%
2023 · €14k
Net result
€49▼ 95.4%
2023 · €1k
Working capital
€-5k▲ 8.0%
2023 · €-5k
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€-9k€-15k▼ 65.6%€-10k▲ 36.0%€1k€468▼ 67.4%
Net result€-10k€-2k▲ 82.7%€-10k▼ 502%€1k€49▼ 95.4%
Equity€3k▼ 73.9%€2k▼ 49.0%€-8k€-7k▲ 12.9%€-7k▲ 0.7%
Total assets€26k▼ 15.6%€57k▲ 121%€11k▼ 81.5%€14k▲ 33.0%€14k▼ 1.1%
Debt€23k▲ 27.8%€56k▲ 147%€19k▼ 65.9%€21k▲ 12.8%€21k▼ 1.0%
Working capital€-803€8k€-4k€-5k▼ 50.2%€-5k▲ 8.0%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 67% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €14k
Fixed assets
€2k ▼ 25.8%
Current assets
€12k ▲ 3.9%
Key figures and ratios
EBITDA
€1k▼
2023 · €2k
Cash flow
€663▼
2023 · €2k
Solvency
-51.8%▼
2023 · -51.6%
Current ratio
0.71▲
2023 · 0.69
Debt to equity
-2.93▲
2023 · -2.94
ROA
0.4%▼
2023 · 7.7%
Interest coverage
2.41▼
2023 · 6.65
Debt ≤ 1 year
€17k▲
2023 · €17k
Debt > 1 year
€4k▼
2023 · €4k
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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €730 | €1k | €932 | €932 | €614 | ▼ 34.1% |
| Other operating charges640/8 | - | €630 | €618 | €535 | €531 | ▼ 0.8% |
| Gross operating margin9900 | €-8k | €-14k | €-8k | €3k | €2k | ▼ 44.5% |
| Operating profit (loss)9901 | €-9k | €-15k | €-10k | €1k | €468 | ▼ 67.4% |
| Financial income75/76B | - | €14k | €0 | - | €31 | - |
| Recurring financial income75 | - | €9 | €0 | - | €31 | - |
| Non-recurring financial income76B | - | €14k | - | - | - | - |
| Financial charges65/66B | - | €355 | €305 | €356 | €450 | ▲ 26.3% |
| Recurring financial charges65 | €418 | €355 | €305 | €356 | €450 | ▲ 26.3% |
| Profit (loss) for the period before taxes9903 | €-10k | €-2k | €-10k | €1k | €49 | ▼ 95.4% |
| Income taxes67/77 | €49 | - | - | - | - | - |
| Profit (loss) for the period9904 | €-10k | €-2k | €-10k | €1k | €49 | ▼ 95.4% |
| Profit (loss) for the period to be appropriated9905 | €-10k | €-2k | €-10k | €1k | €49 | ▼ 95.4% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €26k | €57k | €11k | €14k | €14k | ▼ 1.1% |
| Fixed assets21/28 | €4k | €4k | €3k | €2k | €2k | ▼ 25.8% |
| Intangible fixed assets21 | €4k | €3k | €3k | €2k | €2k | ▼ 25.0% |
| Tangible fixed assets22/27 | - | €738 | €386 | €34 | - | - |
| Furniture and vehicles24 | - | €738 | €386 | €34 | - | - |
| Financial fixed assets28 | €25 | €25 | €25 | €25 | €25 | = |
| Current assets29/58 | €22k | €53k | €7k | €12k | €12k | ▲ 3.9% |
| Amounts receivable within one year40/41 | - | €33k | - | - | €180 | - |
| Trade receivables40 | - | €33k | - | - | €171 | - |
| Other amounts receivable41 | - | - | - | - | €9 | - |
| Current investments50/53 | €20k | €10k | €2k | €595 | €2k | ▲ 256% |
| Cash at bank and in hand54/58 | €668 | €9k | €5k | €10k | €9k | ▼ 11.1% |
| Deferred charges and accrued income490/1 | - | €1k | €725 | €675 | €584 | ▼ 13.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €26k | €57k | €11k | €14k | €14k | ▼ 1.1% |
| Equity10/15 | €3k | €2k | €-8k | €-7k | €-7k | ▲ 0.7% |
| Contributions10/11 | - | €19k | €19k | €19k | €19k | = |
| Reserves13 | €6k | €6k | €6k | €6k | €6k | = |
| Non-distributable reserves130/1 | - | €2k | €2k | - | - | - |
| Reserves not available under the articles1311 | - | €2k | €2k | - | - | - |
| Tax-exempt reserves132 | - | €4k | €4k | €4k | €4k | = |
| Distributable reserves133 | - | - | - | €2k | €2k | = |
| Profit (loss) carried forward14 | €-22k | €-23k | €-33k | €-32k | €-32k | ▲ 0.2% |
| Amounts payable17/49 | €23k | €56k | €19k | €21k | €21k | ▼ 1.0% |
| Amounts payable after more than one year17 | - | €10k | €8k | €4k | €4k | ▼ 5.5% |
| Other amounts payable178/9 | - | €10k | €8k | €4k | €4k | ▼ 5.5% |
| Amounts payable within one year42/48 | €23k | €46k | €11k | €17k | €17k | ▲ 0.2% |
| Trade debts44 | €6k | €10k | €482 | €9k | €9k | ▲ 0.5% |
| Suppliers440/4 | - | €10k | €482 | €9k | €9k | ▲ 0.5% |
| Advances received on contracts in progress46 | - | €25k | - | - | - | - |
| Taxes, remuneration and social security45 | - | €7k | €10k | €8k | €8k | ▼ 0.2% |
| Taxes450/3 | - | €3k | €7k | €5k | €5k | ▼ 1.6% |
| Remuneration and social security454/9 | - | €4k | €4k | €3k | €3k | ▲ 1.7% |
| Other amounts payable47/48 | - | €3k | - | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-10k | €-2k | €-10k | €1k | €49 | ▼ 95.4% |
| + Depreciation and write-downs630 | €730 | €1k | €932 | €932 | €614 | ▼ 34.1% |
| Operating cash flow (approximation) | €-9k | €-633 | €-9k | €2k | €663 | ▼ 67.1% |
| Investment in fixed assets (approximation) | - | €-1k | €0 | €0 | €0 | ▼ 124% |
| Change in cash | - | €8k | €-4k | €6k | €-1k | ▼ 121% |
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
2026
01-09
State Gazette act
General meeting · Statutes amendment
Legal form clause · Registered office clause
2025
01-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 1 day late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
31-12
Financial
Back to profitnet €1k
Net result €1k after 3 loss-making years.
15-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 15 days late
2022
31-12
Financial
Weakest financial yearnet €-10k
Net result drops to €-10k, the lowest in the series; recovery starts the following year.
21-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 21 days late
2021
26-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
28-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 89 days late
2019
31-12
Financial
Back to profitnet €6k
Net result €6k after one loss-making year.
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 29 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
Show earlier events
2017
24-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 24 days late
2016
20-10
State Gazette act
General meeting · Director resignation
Director reappointment · Permanent representative
14-07
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
2011
07-06
State Gazette act
General meeting · Legal-form conversion
Capital increase · Bank account
06-06
State Gazette act
General meeting · Director resignation
Permanent representative · Director discharge
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
5 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 1997
Ground area
1,218 m²
Building footprint
1,221 m²
Volume, LiDAR
17,976 m³
Parcel 21822R0227/00T003, Brussels · tallest building 32.8 m, ±2 floors. Linked by address, not a title deed.
180
companies at this address
See who is registered here
1 establishment unit
MERCO
since 19972.080.890.322
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21822R0227/00T003 | Brussels | 1,218 m² | 1 · 1,221 m² | 32.8 m · 2 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.
Structure & network
Connections & network
The group is listed under Ownership & control below; here you explore it as a network.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, scroll to zoom.
Ownership & control
2 board mandatesBoard mandates of this companythis company sits on their board2
1 location
1 location
Similar companies · same sector, comparable size
BV Dermatology Center Montgomery Brussels
BE 0735.429.353
Etterbeek · Eq €1,751
Novi Tip
BE 0773.753.954
Chaudfontaine · Eq €1,750
Haute Performance Belgium
BE 0792.996.477
Elsene · Eq €1,749
PYJ SOLUTIONS
BE 1028.136.553
Ohey · Eq €1,755
SONA CONSULTING
BE 1017.920.473
Grobbendonk · Eq €1,756
Of 82,632 companies in sector 70200 we hold annual accounts for 52,575. 7,196 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
Founded26-02-1997
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
Contact
E-mail
bl@mercorealestate.com
E-mail
merco.eu@gmail.com
Scores and ratios are computed by Checked and are not a credit decision.