Active BE 0765.244.579Private limited company

Merdivan

Meeënweg 20 ·3600 Genk, Belgium· 5 yrs active

Sector: Head office activities (70100)

Conclusion Checked

The computed 12-month bankruptcy probability of Merdivan is 0.5% (very low). The 2025 annual accounts show equity of €25k and a net result of €-3k. Equity is growing by ~28.3% per year across the filed fiscal years. Its solvency ranks better than 20% of 4661 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 4 annual accounts.

Key figures

Equity	€25k
Net result	€-3k
Better than sector	20%
Active	5 yrs

Snowflake analysis 5 axes · computed by Checked

33 / 100

Fragile profile, watch profitability in particular.

Health 12

Profitability 0

Solvency 7

Growth 52

Stability 94

Bankruptcy probability (12 mo) Checked model v1 · free

0.5% Very low

0%0,5%1,5%4%10%≥25%

Lower-failure-rate sector −Young company +Annual accounts: weaker financial profile +

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 3 signals

More than 3 years active

Founded in 2021, past the statistically most fragile first 3 years.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad.

Administratively compliant

No FOD Economie strikeouts (UBO, accounts, address, activity).

Administrative Flags 0 events

No administrative flags

Health barometer FY 2025 · computed

12 / 100 Critical

050100

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Computed by Checked from NBB filings and Belgian State Gazette signals. Indicative, not credit advice.

Financial overview4 NBB filings

Annual accounts filed on 09-06-2026 with the NBB · fiscal year 2025 · micro

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

growing Equity: growth of ~28.3%/year over 4 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2025 · NACE 70, Head offices & management consulting · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	10.4%	55.1%	better than 20% of 4661 sector peers
Net result	€-3k	€38k	better than 10% of 4660 sector peers
Equity	€25k	€64k	better than 31% of 4661 sector peers
Gross operating margin	€1k	€61k	better than 10% of 4654 sector peers
Total assets	€237k	€145k	better than 69% of 4661 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

Net profit

€-3k

- +53% vs sector

Total assets

€237k

-13.4% -2% vs sector

Equity

€25k

-12.0% -66% vs sector

Working capital

€-172k

-21.5% far below sector median

Income taxes

€2k

-33.7% -58% vs sector

Debt

€213k

-13.5% +148% vs sector

Debt ≤ 1y

€179k

-3.4% +109% vs sector

Debt > 1y

€33k

-44.7% -96% vs sector

Current ratio

0.04

-82.9% -98% vs sector

Quick ratio

0.04

-82.9% -98% vs sector

Solvency

10.4%

+1.6% -72% vs sector

Debt / equity

8.63

-1.7% far above sector median

ROE

-13.6%

- +3% vs sector

ROA

-1.4%

- +73% vs sector

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2025
Revenue	-
EBITDA	-
Net profit	€-3k
Cash flow	-
Staff costs	-
Income taxes	-
Dividends	-
Total assets	€237k
Equity	€25k
Debt	€213k
of which ≤ 1y	€179k
of which > 1y	€33k
Working capital	€-172k
Employees (FTE)	-

Ratios (computed)

	2025
Current ratio	0.04
Quick ratio	0.04
Working capital ratio	-72.5%
Solvency	10.4%
Debt / equity	8.63
Long-term debt ratio	1.36
Interest coverage	-
Gross margin	-
Net margin	-
ROA	-1.4%
ROE	-13.6%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2025

Assets

Fixed assets €230k · 96.9% Current assets €7k · 3.1%

Equity & liabilities

Equity €25k · 10.4% Debt €213k · 89.6%

Full annual accounts

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025
Balance sheet, Assets
TOTAL ASSETS	20/58	€237k
Fixed assets	21/28	€230k
Financial fixed assets	28	€230k
Current assets	29/58	€7k
Amounts receivable within one year	40/41	€7k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€237k
Equity	10/15	€25k
Contributions / capital	10/11	€4k
Reserves	13	€24k
Accumulated profits (losses)	14	€-3k
Amounts payable	17/49	€213k
Amounts payable after one year	17	€33k
Amounts payable within one year	42/48	€179k
Trade debts payable within one year	44	€399
Income statement
Gross operating margin	9900	€1k
Operating result	9901	€-340
Financial income	75	€1
Financial charges	65	€3k
Result before taxes	9903	€-3k
Net result for the period	9904	€-3k
Result to be appropriated	9905	€-3k

You're seeing the latest fiscal year only. Unlock 3 prior years (figures + ratios) with a paid plan. See plans →

Ratios computed by Checked.

Legal Structure

NACE primary	Head office activities(70100)
Legal form	Private limited company(610)
Incorporation	16-03-2021
Status	Active
Postal code	3600

Establishment units 1 location

Merdivan

Meeënweg 20, 3600 GenkManagementsactiviteiten van holdings : tussenkomen in het dagelijks bestuur, vertegenwoordigen van bedrijven op grond van bezit van of controle over het maatschappelijk kapitaal, enz.

since 20212.314.823.638

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Real-estate footprint Source: CBE × cadastre

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
71305F1344/00T075	Flanders	1,930 m²	1 · 150 m²	8.8 m · 2 fl.

Methodology

via registered seat: 1

1 of 1 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Updates 5 events

A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.

2026

09-06-2026

NBB filing Annual accounts filed

fiscal year 2025 · micro

2025

10-06-2025

NBB filing Annual accounts filed

fiscal year 2024 · micro

2024

10-06-2024

NBB filing Annual accounts filed

fiscal year 2023 · micro

2023

31-07-2023

State Gazette act Capital & shares

An Thielen

07-07-2023

NBB filing Annual accounts filed

fiscal year 2022 · micro

Belgisch Staatsblad, acts 1 acts

Capital history · 1

31-07-2023

Capital change

All acts · 1 updated 2 years ago

2023

31-07-2023 Capital increase of €2,500 to €6,000 Capital & shares·An Thielen

€3.500 → €6.000

Notary: An Thielen · Genk

Original publication ↗

Technical details

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  "notary": {
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  },
  "act_meta": {
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    "pub_date": "2023-07-31",
    "filing_date": "2023-07-27",
    "act_kind_objet": "Onderwerp akte:"
  },
  "decision": {
    "body": "algemene_vergadering",
    "act_date": "2023-07-07",
    "unanimous": null,
    "under_authorized_capital": true,
    "underlying_resolution_date": "2022-09-13"
  },
  "bedrijfsrevisor": {
    "waived": false,
    "firm_kbo": null,
    "firm_name": "IRA NICOLAIJ BEDRIJFSREVISOR",
    "ibr_number": null,
    "mission_type": "quasi_apport",
    "individual_name": "Ira NICOLAIJ"
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  "subject_company": {
    "kbo": "0765.244.579",
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    "legal_form": "Besloten Vennootschap",
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  "co_filed_documents": [
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    "Geco\u00F6rdineerde statuten"
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  "shareholders_after": [
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      "n_shares": 250,
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  "share_classes_after": []
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Company registry (CBE) Crossroads Bank

Activities

Activiteiten van hoofdkantoren70100Activiteiten van hoofdkantoren70100

Primary activity highlighted.

Names & trade names

Legal nameNL

Merdivan

Registered office

Meeënweg 20

3600 Genk, Belgium

Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.

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