Merco
ActiveSummary
Merco has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €253k and a net result of €12k. Equity is growing by ~8.1% per year across the filed fiscal years. Its solvency ranks better than 49% of 20780 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability73=
Solvency86▲+8
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €19k at 30 days acceptable
Liquidity short (current ratio 0.3 against 0.47 in 2023; short-term debt: 13.9% and cash: 1.3% of total assets), and 38.5% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
−lowers 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
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 19-09-2025, 50 days 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
50 d late
2023
2 d late
2022
28 d late
2021
9 d early
2020
71 d early
2019
1 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Accepting this client? The AML file with identity, beneficial owners and sanctions lists.AML client file How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed Roughly what is this company worth?Value indication
Financials · fiscal year 2024, micro schema
Equity
€253k▲ 5.2%
2023 · €240k
Total assets
€411k▼ 8.8%
2023 · €451k
Net result
€12k▼ 18.3%
2023 · €15k
Working capital
€-40k▼ 8.8%
2023 · €-37k
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€22k▼ 26.7%€36k▲ 61.4%€41k▲ 13.5%€32k▼ 22.6%€26k▼ 17.2%
Net result€3k▼ 75.9%€16k▲ 404%€32k▲ 100%€15k▼ 51.9%€12k▼ 18.3%
Equity€178k▲ 1.8%€194k▲ 8.9%€225k▲ 16.3%€240k▲ 6.7%€253k▲ 5.2%
Total assets€505k▼ 7.2%€487k▼ 3.5%€477k▼ 2.1%€451k▼ 5.5%€411k▼ 8.8%
Debt€327k▼ 11.5%€293k▼ 10.2%€252k▼ 14.2%€210k▼ 16.4%€158k▼ 24.7%
Working capital€-43k▼ 22.3%€-34k▲ 19.7%€2k€-37k€-40k▼ 8.8%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2024 is 17% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €411k
Fixed assets
€394k ▼ 5.7%
Current assets
€17k ▼ 48.5%
Equity and liabilities €411k
Equity
€253k ▲ 5.2%
Debt
€158k ▼ 24.7%
Debt's share of the balance-sheet total falls from 46.7% to 38.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€54k▼
2023 · €61k
Cash flow
€40k▼
2023 · €44k
Current ratio
0.30▼
2023 · 0.47
Debt to equity
0.63▼
2023 · 0.88
ROE
4.9%▼
2023 · 6.3%
ROA
3.0%▼
2023 · 3.4%
Interest coverage
7.05▲
2023 · 6.65
Debt ≤ 1 year
€57k▼
2023 · €70k
Debt > 1 year
€100k▼
2023 · €139k
Income taxes
€7k▼
2023 · €8k
Staff costs
€1k▲
2023 · €972
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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €2k | €4k | €972 | €1k | ▲ 49.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €34k | €35k | €26k | €29k | €27k | ▼ 6.9% |
| Other operating charges640/8 | - | €2k | €2k | €2k | €2k | ▼ 7.2% |
| Gross operating margin9900 | €57k | €76k | €73k | €64k | €57k | ▼ 11.2% |
| Operating profit (loss)9901 | €22k | €36k | €41k | €32k | €26k | ▼ 17.2% |
| Financial income75/76B | - | €1 | €15k | €59 | €119 | ▲ 102% |
| Recurring financial income75 | €14 | €1 | €0 | €59 | €119 | ▲ 102% |
| Non-recurring financial income76B | - | - | €15k | - | - | - |
| Financial charges65/66B | - | €12k | €11k | €9k | €8k | ▼ 17.3% |
| Recurring financial charges65 | €14k | €12k | €11k | €9k | €8k | ▼ 17.3% |
| Profit (loss) for the period before taxes9903 | €8k | €24k | €45k | €23k | €19k | ▼ 16.8% |
| Income taxes67/77 | €5k | €8k | €14k | €8k | €7k | ▼ 13.8% |
| Profit (loss) for the period9904 | €3k | €16k | €32k | €15k | €12k | ▼ 18.3% |
| Profit (loss) for the period to be appropriated9905 | €3k | €16k | €32k | €15k | €12k | ▼ 18.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €505k | €487k | €477k | €451k | €411k | ▼ 8.8% |
| Fixed assets21/28 | €482k | €451k | €413k | €418k | €394k | ▼ 5.7% |
| Tangible fixed assets22/27 | €482k | €451k | €413k | €418k | €394k | ▼ 5.7% |
| Land and buildings22 | - | €428k | €409k | €413k | €391k | ▼ 5.4% |
| Plant, machinery and equipment23 | - | €3k | €2k | €5k | €3k | ▼ 26.8% |
| Furniture and vehicles24 | - | €20k | €822 | - | - | - |
| Financial fixed assets28 | €25 | €25 | €25 | €25 | €25 | = |
| Current assets29/58 | €22k | €36k | €64k | €33k | €17k | ▼ 48.5% |
| Amounts receivable within one year40/41 | €10k | €26k | €19k | €17k | €11k | ▼ 35.7% |
| Trade receivables40 | - | €21k | €18k | €11k | €1k | ▼ 89.4% |
| Other amounts receivable41 | - | €5k | €696 | €6k | €10k | ▲ 71.4% |
| Cash at bank and in hand54/58 | €11k | €9k | €45k | €15k | €5k | ▼ 65.3% |
| Deferred charges and accrued income490/1 | - | €609 | €416 | €329 | €536 | ▲ 63.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €505k | €487k | €477k | €451k | €411k | ▼ 8.8% |
| Equity10/15 | €178k | €194k | €225k | €240k | €253k | ▲ 5.2% |
| Contributions10/11 | - | €26k | €26k | €26k | €26k | = |
| Revaluation surpluses12 | - | €110k | €110k | €110k | €110k | = |
| Reserves13 | €42k | €57k | €89k | €104k | €116k | ▲ 11.9% |
| Non-distributable reserves130/1 | - | €4k | €4k | - | - | - |
| Reserves not available under the articles1311 | - | €4k | €4k | - | - | - |
| Distributable reserves133 | - | €54k | €85k | €104k | €116k | ▲ 11.9% |
| Amounts payable17/49 | €327k | €293k | €252k | €210k | €158k | ▼ 24.7% |
| Amounts payable after more than one year17 | €261k | €222k | €188k | €139k | €100k | ▼ 28.2% |
| Financial debts170/4 | - | €222k | €188k | €139k | €100k | ▼ 28.2% |
| Amounts payable within one year42/48 | €65k | €70k | €62k | €70k | €57k | ▼ 18.2% |
| Current portion of amounts payable after more than one year42 | - | €41k | €39k | €43k | €47k | ▲ 9.9% |
| Financial debts43 | - | €9k | - | €5k | €2k | ▼ 66.3% |
| Credit institutions430/8 | - | €9k | - | €5k | €2k | ▼ 66.3% |
| Trade debts44 | €4k | €3k | €3k | €4k | €4k | ▲ 7.4% |
| Suppliers440/4 | - | €3k | €3k | €4k | €4k | ▲ 7.4% |
| Taxes, remuneration and social security45 | - | €5k | €7k | €9k | €4k | ▼ 57.0% |
| Taxes450/3 | - | €3k | €5k | €6k | €1k | ▼ 80.0% |
| Remuneration and social security454/9 | - | €3k | €3k | €3k | €3k | = |
| Other amounts payable47/48 | - | €11k | €12k | €9k | €249 | ▼ 97.2% |
| Accrued charges and deferred income492/3 | - | €1k | €1k | €2k | €1k | ▼ 12.0% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3k | €16k | €32k | €15k | €12k | ▼ 18.3% |
| + Depreciation and write-downs630 | €34k | €35k | €26k | €29k | €27k | ▼ 6.9% |
| Operating cash flow (approximation) | €38k | €51k | €58k | €44k | €40k | ▼ 10.8% |
| Investment in fixed assets (approximation) | - | €-4k | €12k | €-34k | €-3k | ▲ 90.0% |
| Change in cash | - | €-2k | €36k | €-30k | €-10k | ▲ 66.6% |
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
19-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 50 days late
2024
02-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 2 days late
2023
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 28 days late
2022
31-12
Financial
Highest result since 2018net €32k ▲100%
Operating result €41k, net result €32k, both a record.
31-12
Financial
Liquidity doublescurrent ratio 1.03
Current ratio from 0.51 to 1.03; short-term debt falls from €70k to €62k.
31-12
Financial
Equity above €200kEq €225k ▲16.3%
5 profitable years in a row build equity to €225k.
22-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
21-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Weakest financial yearnet €3k ▼75.9%
Net result drops to €3k, the lowest in the series; recovery starts the following year.
30-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
24-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
16-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
07-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
23-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 23 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Scherpenheuvel-Zichem · 1 establishment unit since 1998
Ground area
2,115 m²
Building footprint
132 m²
Volume, LiDAR
795 m³
Parcel 24105B0164/00T002, Flanders · tallest building 8.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MERCO BVBA
since 19982.086.932.135
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24105B0164/00T002 | Flanders | 2,115 m² | 1 · 132 m² | 8.2 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.
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Of 16,901 companies in sector 62100 we hold annual accounts for 8,775. 6,375 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
Founded15-05-1998
Fiscal year end31-12
Activities, NACEBEL 2025
62100Computer programming
Scores and ratios are computed by Checked and are not a credit decision.