MERCOR
ActiveSummary
MERCOR has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €85,760 and a net result of -€72,454. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 17% of 739 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability9▼-30
Solvency37▼-5
Growth23▼-20
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3,500 at 30 days only on tighter terms
Liquidity tight (current ratio 1.19 against 1.2 in 2024; short-term debt: 84% and cash: 5.9% of total assets), and 88.5% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five 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 71
Relative position
BE, all sectors
reference
Architectural and engineering activities; technical testing and analysis (NACE 71)
about 56% 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 2025Solvency, return and age of the figures
Solvency
11.5%
Return on assets
-9.7%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 17% of 739 sector peers (2025).
NBB · sector comparisonPosition among 739 sector peers
Solvency
better than 17%
← 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 31-07-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
6 d early
2023
111 d late
2022
170 d late
2021
2 d early
2020
1 d early
2019
36 d early
← 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 34 days after the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 33% 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 31 July (4 of the last 5 filed years within 112 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Is the workforce growing, and do people stay?Employer check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, full schema
Turnover
€2.1m▼ 17.7%
2024 · €2.5m
EBIT margin
-1.2%▼ 4.8pp
2024 · 3.6%
Net result
-€72,454
2024 · €40,740
Working capital
€116,682▼ 26.1%
2024 · €157,914
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 71, Architectural and engineering activities; technical testing and analysis, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€3.0m€2.9m▼ 3.3%€2.9m▲ 1.4%€2.5m▼ 14.3%€2.1m▼ 17.7%
Operating result-€24,196-€19,763▲ 18.3%€179,675€90,211▼ 49.8%-€25,516
Net result-€47,106below the sector's middle half▼ 129%-€39,552below the sector's middle half▲ 16.0%€100,905within the sector's middle half€40,740within the sector's middle half▼ 59.6%-€72,454below the sector's middle half
EBIT margin-0.8%-0.7%▲ 0.1pp6.1%▲ 6.8pp3.6%▼ 2.5pp-1.2%▼ 4.8pp
Equity€56,120within the sector's middle half▼ 45.6%€16,568below the sector's middle half▼ 70.5%€117,473within the sector's middle half▲ 609%€158,214within the sector's middle half▲ 34.7%€85,760below the sector's middle half▼ 45.8%
Total assets€871,925within the sector's middle half▲ 44.5%€1.2mwithin the sector's middle half▲ 32.6%€1.8mwithin the sector's middle half▲ 52.2%€948,750within the sector's middle half▼ 46.1%€744,237within the sector's middle half▼ 21.6%
Debt€815,805▲ 63.1%€1.1m▲ 39.7%€1.6m▲ 44.1%€790,536▼ 51.9%€627,003▼ 20.7%
Working capital€57,934within the sector's middle half▼ 40.7%€47,899within the sector's middle half▼ 17.3%€120,886within the sector's middle half▲ 152%€157,914within the sector's middle half▲ 30.6%€116,682within the sector's middle half▼ 26.1%
Solvency6.4%below the sector's middle half▼ 10.7pp1.4%below the sector's middle half▼ 5.0pp6.7%below the sector's middle half▲ 5.2pp16.7%below the sector's middle half▲ 10.0pp11.5%below the sector's middle half▼ 5.2pp
Current ratio1.07within the sector's middle half▼ 0.121.04within the sector's middle half▼ 0.031.07within the sector's middle half▲ 0.031.20within the sector's middle half▲ 0.131.19within the sector's middle half▼ 0.01
Return on assets (ROA)-5.4%below the sector's middle half▼ 2.0pp-3.4%below the sector's middle half▲ 2.0pp5.7%within the sector's middle half▲ 9.2pp4.3%within the sector's middle half▼ 1.4pp-9.7%below the sector's middle half▼ 14.0pp
Staff (FTE)31.2above the sector's middle half▼ 5.5%25within the sector's middle half▼ 19.9%23.7within the sector's middle half▼ 5.2%20.7within the sector's middle half▼ 12.7%15.7within the sector's middle half▼ 24.2%
above
within
below
the middle half (P25 to P75) of NACE 71, Architectural and engineering activities; technical testing and analysis, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €25,516 after €90,211 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €744,237
Fixed assets
€2,166 ▲ 622%
Current assets
€742,071 ▼ 21.8%
Equity and liabilities €744,237
Equity
€85,760 ▼ 45.8%
Provisions
€31,474
Debt
€627,003 ▼ 20.7%
Debt's share of the balance-sheet total rises from 83.3% to 84.2%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€25,129▼
2024 · €90,817
Cash flow
-€72,066▼
2024 · €41,347
Debt to equity
7.31▲
2024 · 5.00
ROE
-84.5%▼
2024 · 25.8%
Interest coverage
-0.52▼
2024 · 2.06
Debt ≤ 1 year
€625,389▼
2024 · €790,536
Income taxes
€3,365▼
2024 · €34,114
Staff costs
€1.2m▼
2024 · €1.5m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,507 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 10 to 30%
- a small loss
1.6%
went bankrupt
1.8%
stopped otherwise
96%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.2% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 2,507 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | €3.0m | €2.9m | €3.0m | €2.5m | €2.1m | ▼ 17.1% |
| Turnover70 | €3.0m | €2.9m | €2.9m | €2.5m | €2.1m | ▼ 17.7% |
| Other operating income74 | €24,960 | €3,409 | €9,864 | €1,600 | €15,873 | ▲ 892% |
| Non-recurring operating income76A | €16,054 | €0 | €10,716 | €0 | - | - |
| Operating charges60/66A | €3.1m | €2.9m | €2.8m | €2.4m | €2.1m | ▼ 13.0% |
| Goods for resale, raw materials and consumables60 | €579,723 | €571,855 | €520,288 | €449,238 | €458,117 | ▲ 2.0% |
| Purchases600/8 | €579,723 | €571,855 | €520,288 | €449,238 | €458,117 | ▲ 2.0% |
| Services and other goods61 | €417,794 | €368,499 | €307,288 | €224,891 | €163,197 | ▼ 27.4% |
| Remuneration, social security and pensions62 | €1.9m | €1.7m | €1.7m | €1.5m | €1.2m | ▼ 18.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,796 | €1,487 | €1,140 | €606 | €388 | ▼ 36.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €25,371 | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | - | €31,474 | - |
| Other operating charges640/8 | €196,148 | €240,276 | €213,358 | €222,886 | €189,937 | ▼ 14.8% |
| Non-recurring operating charges66A | €8,342 | €33,377 | €19,070 | €0 | - | - |
| Operating profit (loss)9901 | -€24,196 | -€19,763 | €179,675 | €90,211 | -€25,516 | ▼ 128% |
| Financial income75/76B | €0 | €86 | €9,318 | €31,370 | €5,442 | ▼ 82.7% |
| Recurring financial income75 | €0 | €86 | €9,318 | €31,370 | €5,442 | ▼ 82.7% |
| Income from current assets751 | - | €86 | €9,318 | €19,247 | €5,441 | ▼ 71.7% |
| Other financial income752/9 | €0 | €0 | €0 | €12,123 | €1 | ▼ 100.0% |
| Financial charges65/66B | €17,808 | €15,459 | €36,197 | €46,727 | €49,014 | ▲ 4.9% |
| Recurring financial charges65 | €17,808 | €15,459 | €36,197 | €46,727 | €49,014 | ▲ 4.9% |
| Debt charges650 | €15,579 | €14,435 | €30,447 | €44,177 | €47,982 | ▲ 8.6% |
| Other financial charges652/9 | €2,229 | €1,024 | €5,749 | €2,550 | €1,033 | ▼ 59.5% |
| Profit (loss) for the period before taxes9903 | -€42,004 | -€35,137 | €152,796 | €74,855 | -€69,088 | ▼ 192% |
| Income taxes67/77 | €5,102 | €4,415 | €51,890 | €34,114 | €3,365 | ▼ 90.1% |
| Taxes670/3 | €5,102 | €4,415 | €51,890 | €34,114 | €3,365 | ▼ 90.1% |
| Profit (loss) for the period9904 | -€47,106 | -€39,552 | €100,905 | €40,740 | -€72,454 | ▼ 278% |
| Profit (loss) for the period to be appropriated9905 | -€47,106 | -€39,552 | €100,905 | €40,740 | -€72,454 | ▼ 278% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €871,925 | €1.2m | €1.8m | €948,750 | €744,237 | ▼ 21.6% |
| Fixed assets21/28 | €3,534 | €2,046 | €906 | €300 | €2,166 | ▲ 622% |
| Tangible fixed assets22/27 | €3,234 | €1,746 | €606 | €0 | €1,866 | - |
| Furniture and vehicles24 | €3,234 | €1,746 | €606 | €0 | €1,866 | - |
| Financial fixed assets28 | €300 | €300 | €300 | €300 | €300 | = |
| Other financial fixed assets284/8 | €300 | €300 | €300 | €300 | €300 | = |
| Amounts receivable and cash guarantees285/8 | €300 | €300 | €300 | €300 | €300 | = |
| Current assets29/58 | €868,392 | €1.2m | €1.8m | €948,450 | €742,071 | ▼ 21.8% |
| Stocks and contracts in progress3 | €0 | €0 | €0 | €0 | €0 | - |
| Amounts receivable within one year40/41 | €772,531 | €1.0m | €1.5m | €725,224 | €681,893 | ▼ 6.0% |
| Trade receivables40 | €752,633 | €766,878 | €1.0m | €441,981 | €394,587 | ▼ 10.7% |
| Other amounts receivable41 | €19,898 | €274,142 | €474,850 | €283,243 | €287,305 | ▲ 1.4% |
| Cash at bank and in hand54/58 | €84,290 | €98,648 | €212,116 | €201,820 | €44,271 | ▼ 78.1% |
| Deferred charges and accrued income490/1 | €11,571 | €14,316 | €26,419 | €21,406 | €15,908 | ▼ 25.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €871,925 | €1.2m | €1.8m | €948,750 | €744,237 | ▼ 21.6% |
| Equity10/15 | €56,120 | €16,568 | €117,473 | €158,214 | €85,760 | ▼ 45.8% |
| Contributions10/11 | €180,000 | €180,000 | €180,000 | €180,000 | €180,000 | = |
| Reserves13 | €0 | - | - | - | - | - |
| Distributable reserves133 | €0 | - | - | - | - | - |
| Profit (loss) carried forward14 | -€123,880 | -€163,432 | -€62,527 | -€21,786 | -€94,240 | ▼ 333% |
| Provisions and deferred taxes16 | - | - | - | - | €31,474 | - |
| Provisions for liabilities and charges160/5 | - | - | - | - | €31,474 | - |
| Other liabilities and charges164/5 | - | - | - | - | €31,474 | - |
| Amounts payable17/49 | €815,805 | €1.1m | €1.6m | €790,536 | €627,003 | ▼ 20.7% |
| Amounts payable within one year42/48 | €810,457 | €1.1m | €1.6m | €790,536 | €625,389 | ▼ 20.9% |
| Current portion of amounts payable after more than one year42 | - | - | €0 | - | - | - |
| Financial debts43 | €299,938 | €412,573 | €558,946 | €456,323 | €383,359 | ▼ 16.0% |
| Credit institutions430/8 | €299,938 | €412,573 | €558,946 | €456,323 | €383,359 | ▼ 16.0% |
| Trade debts44 | €172,912 | €356,989 | €787,660 | €150,795 | €79,706 | ▼ 47.1% |
| Suppliers440/4 | €172,912 | €356,989 | €787,660 | €150,795 | €79,706 | ▼ 47.1% |
| Taxes, remuneration and social security45 | €232,607 | €286,523 | €241,295 | €183,418 | €162,324 | ▼ 11.5% |
| Taxes450/3 | €57,212 | €62,101 | €30,883 | €19,619 | €50,190 | ▲ 156% |
| Remuneration and social security454/9 | €175,396 | €224,421 | €210,412 | €163,799 | €112,134 | ▼ 31.5% |
| Other amounts payable47/48 | €105,000 | €50,000 | €50,000 | €0 | - | - |
| Accrued charges and deferred income492/3 | €5,348 | €33,377 | €4,319 | €0 | €1,614 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€47,106 | -€39,552 | €100,905 | €40,740 | -€72,454 | ▼ 278% |
| + Depreciation and write-downs630 | €1,796 | €1,487 | €1,140 | €606 | €388 | ▼ 36.1% |
| Operating cash flow (approximation) | -€45,311 | -€38,065 | €102,045 | €41,347 | -€72,066 | ▼ 274% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | -€2,254 | - |
| Change in cash | - | €14,358 | €113,468 | -€10,296 | -€157,550 | ▼ 1,430% |
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
Next filing, fiscal year 2026, expected by
2026
31-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
28-07
State Gazette act
Appointment: TALENCO (director)Permanent representative: Maarten Van Staeyen · Resignation: BLQ Management (director)5 facts ▸
State Gazette act
Appointment: TALENCO (director)
Permanent representative: Maarten Van Staeyen · Resignation: BLQ Management (director)5 facts ▸
- General meeting, 23-07-2026
- Director appointment, TALENCO (director)
- Permanent representative, Maarten Van Staeyen (director)
- Permanent representative, Maarten Van Staeyen (permanent representative)
- Director resignation, BLQ Management (director)
2025
31-12
Financial
Weakest financial yearnet -€72,454
Net result drops to -€72,454, the lowest in the series.
25-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Equity above €150,000Eq €158,214 ▲34.7%
2 profitable years in a row build equity to €158,214.
19-11
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 111 days late
17-01
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 170 days late
2023
31-12
Financial
Back to profitnet €100,905
Net result €100,905 after 3 loss-making years.
31-12
Financial
Equity above €100,000Eq €117,473 ▲609%
Equity rises from €16,568 to €117,473.
2022
29-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
30-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
25-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
Show earlier events
2019
31-12
Financial
Back to profitnet €76,702
Net result €76,702 after one loss-making year.
04-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
22-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
14-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 11 acts read
About the unread acts
Of the 11 Belgian State Gazette acts we know for this company, 1 has been read. The other 10 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, last change in 2026
Board 1
TALENCO
CurrentDirector · since 23-07-2026 · Private limited company · perm. rep.: Maarten Van Staeyen
Permanent representatives 1
Maarten Van Staeyen
CurrentPermanent representative · since 23-07-2026 · for TALENCO
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
10 of this company's 11 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Antwerpen · 1 establishment unit since 2009
Ground area
516 m²
Building footprint
516 m²
Volume, LiDAR
14,738 m³
Parcel 11802B0238/00M002, Flanders · tallest building 33.3 m, ±10 floors. Linked by address, not a title deed.
28
companies at this address
See who is registered here
1 establishment unit
Ankerrui 20, 2000 Antwerpen
since 20092.184.493.844
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11802B0238/00M002 | Flanders | 516 m² | 1 · 516 m² | 33.3 m · 10 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.
Mandate history
2 people since 2026, 1 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| TALENCO |
|
| BLQ Management |
|
Structure & network
Owners and holdings
1 ownerChain of control
- TALENCO
- MERCOR
Highest known parent: TALENCO. The sources do not say who stands above it.
Owners 1
- TALENCOparent100%
Holdings 0
The accounts to 31-12-2021 list no holdings, and no other source names one.
According to the 2021 annual accounts of MERCOR and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
1 current directorThe group is listed under Ownership & control below; here you explore it as a network.
This company
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Director
Shareholding
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Identification & contact
Identification
Legal formPrivate limited company
Founded09-03-2006
Fiscal year end31-12
Activities, NACEBEL 2025
71121Engineering and related technical consultancy, excluding land surveyors
E-invoicing
Reachable via Peppol
Peppol ID
0208:0879866610
Registered
04-02-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.