Summary
MERELS HOLDING is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €1.5m and a net result of -€25,756. Equity is shrinking by ~25.9% per year across the filed fiscal years. Its solvency ranks better than 87% of 5565 sector peers (fiscal year 2025). The company has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
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 30-06-2026, 31 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
31 d early
2024
14 d late
2023
20 d late
2022
4 d early
2021
10 d late
2020
12 d late
2019
18 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 on the deadline day; the sector median for financial year 2024 is 14 days before the deadline, and 28% 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€1.5m▼ 1.7%
2024 · €1.5m
Net result
-€25,756
2024 · €98,997
Total assets
€1.6m▼ 55.2%
2024 · €3.6m
Solvency
92.2%▲ 50.1pp
2024 · 42.0%
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€84,791▲ 33.7%-€160,210▼ 88.9%-€73,652▲ 54.0%-€66,407▲ 9.8%-€96,207▼ 44.9%
Net result€258,453above the sector's middle half▼ 30.5%€95,523within the sector's middle half▼ 63.0%€164,144within the sector's middle half▲ 71.8%€98,997above the sector's middle half▼ 39.7%-€25,756below the sector's middle half
Equity€2.6mabove the sector's middle half▼ 51.1%€2.7mabove the sector's middle half▲ 3.6%€2.9mabove the sector's middle half▲ 6.0%€1.5mabove the sector's middle half▼ 48.0%€1.5mwithin the sector's middle half▼ 1.7%
Total assets€3.0mwithin the sector's middle half▼ 49.0%€3.0mwithin the sector's middle half▲ 1.2%€3.1mwithin the sector's middle half▲ 3.4%€3.6mabove the sector's middle half▲ 14.2%€1.6mwithin the sector's middle half▼ 55.2%
Debt€363,646▼ 25.3%€302,902▼ 16.7%€241,426▼ 20.3%€2.1m▲ 756%€125,098▼ 93.9%
Working capital€1.1m▼ 69.5%€1.3m▲ 14.7%€1.4m▲ 13.7%€122,795▼ 91.5%€132,580▲ 8.0%
Solvency87.8%above the sector's middle half▼ 3.9pp90.0%above the sector's middle half▲ 2.2pp92.3%above the sector's middle half▲ 2.3pp42.0%within the sector's middle half▼ 50.2pp92.2%above the sector's middle half▲ 50.1pp
Staff (FTE)0.8below the sector's middle half▲ 60.0%0.8within the sector's middle half=0.8within the sector's middle half=1▲ 25.0%
above
within
below
the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings.
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 stays negative: a loss of €96,207 in 2025 against €66,407 in 2024; the loss grows.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.6m
Fixed assets
€1.3m ▼ 2.6%
Current assets
€257,678 ▼ 88.2%
Equity and liabilities €1.6m
Equity
€1.5m ▼ 1.7%
Debt
€125,098 ▼ 93.9%
Debt's share of the balance-sheet total falls from 58.0% to 7.8%. Equity and debt are lower.
Key figures and ratios
ROE
-1.7%▼
2024 · 6.6%
ROA
-1.6%▼
2024 · 2.8%
Debt ≤ 1 year
€125,098▼
2024 · €2.1m
Income taxes
€21,683▲
2024 · €15,812
Staff costs
€156▼
2024 · €4,418
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €25,518 | €28,044 | €18,958 | €4,418 | €156 | ▼ 96.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €68,733 | €67,847 | €36,214 | €35,522 | €35,540 | ▲ 0.1% |
| Other operating charges640/8 | €6,728 | €5,868 | €6,496 | €6,336 | €6,719 | ▲ 6.0% |
| Gross operating margin9900 | €16,189 | -€58,452 | -€11,983 | -€20,131 | -€53,792 | ▼ 167% |
| Operating profit (loss)9901 | -€84,791 | -€160,210 | -€73,652 | -€66,407 | -€96,207 | ▼ 44.9% |
| Financial income75/76B | €372,786 | €267,718 | €302,574 | €152,947 | €164,529 | ▲ 7.6% |
| Recurring financial income75 | €372,786 | €267,718 | €302,574 | €152,947 | €164,529 | ▲ 7.6% |
| Financial charges65/66B | €233 | €883 | €41,001 | -€28,269 | €72,395 | ▲ 356% |
| Recurring financial charges65 | €233 | €883 | €41,001 | -€28,269 | €72,395 | ▲ 356% |
| Profit (loss) for the period before taxes9903 | €287,763 | €106,624 | €187,922 | €114,809 | -€4,073 | ▼ 104% |
| Income taxes67/77 | €29,310 | €11,101 | €23,778 | €15,812 | €21,683 | ▲ 37.1% |
| Profit (loss) for the period9904 | €258,453 | €95,523 | €164,144 | €98,997 | -€25,756 | ▼ 126% |
| Profit (loss) for the period to be appropriated9905 | €258,453 | €95,523 | €164,144 | €98,997 | -€25,756 | ▼ 126% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.0m | €3.0m | €3.1m | €3.6m | €1.6m | ▼ 55.2% |
| Fixed assets21/28 | €1.5m | €1.4m | €1.4m | €1.4m | €1.3m | ▼ 2.6% |
| Tangible fixed assets22/27 | €666,265 | €598,418 | €587,916 | €530,360 | €494,820 | ▼ 6.7% |
| Land and buildings22 | €633,516 | €598,074 | €562,632 | €530,360 | €494,820 | ▼ 6.7% |
| Furniture and vehicles24 | €32,749 | €344 | €25,284 | €0 | - | - |
| Financial fixed assets28 | €845,369 | €845,369 | €845,369 | €845,369 | €845,369 | = |
| Current assets29/58 | €1.5m | €1.6m | €1.7m | €2.2m | €257,678 | ▼ 88.2% |
| Amounts receivable within one year40/41 | €328,742 | €595,893 | €9,231 | €115,363 | €1,776 | ▼ 98.5% |
| Trade receivables40 | €0 | €5,080 | €2,918 | €2,011 | €0 | ▼ 100% |
| Other amounts receivable41 | €328,742 | €590,813 | €6,313 | €113,352 | €1,776 | ▼ 98.4% |
| Current investments50/53 | €950,471 | €547,926 | €1.6m | €2.0m | €210,903 | ▼ 89.3% |
| Cash at bank and in hand54/58 | €193,294 | €422,579 | €76,016 | €107,420 | €44,999 | ▼ 58.1% |
| Deferred charges and accrued income490/1 | - | €8,735 | €0 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.0m | €3.0m | €3.1m | €3.6m | €1.6m | ▼ 55.2% |
| Equity10/15 | €2.6m | €2.7m | €2.9m | €1.5m | €1.5m | ▼ 1.7% |
| Contributions10/11 | €75,000 | €75,000 | €75,000 | €75,000 | €75,000 | = |
| Capital10 | €75,000 | €75,000 | €75,000 | €75,000 | €75,000 | = |
| Issued capital100 | €75,000 | €75,000 | €75,000 | €75,000 | €75,000 | = |
| Reserves13 | €2.3m | €2.4m | €2.5m | €1.2m | €1.2m | = |
| Non-distributable reserves130/1 | €7,500 | €7,500 | €7,500 | €7,500 | €7,500 | = |
| Legal reserve130 | €7,500 | €7,500 | €7,500 | €7,500 | €7,500 | = |
| Distributable reserves133 | €2.3m | €2.4m | €2.5m | €1.1m | €1.1m | = |
| Profit (loss) carried forward14 | €266,902 | €266,902 | €266,902 | €266,902 | €241,147 | ▼ 9.6% |
| Amounts payable17/49 | €363,646 | €302,902 | €241,426 | €2.1m | €125,098 | ▼ 93.9% |
| Amounts payable within one year42/48 | €363,646 | €302,902 | €241,426 | €2.1m | €125,098 | ▼ 93.9% |
| Trade debts44 | €34,248 | €20,708 | €9,327 | €8,665 | €8,957 | ▲ 3.4% |
| Suppliers440/4 | €34,248 | €20,708 | €9,327 | €8,665 | €8,957 | ▲ 3.4% |
| Taxes, remuneration and social security45 | €30,748 | €42,715 | €38,268 | €85,892 | €1,924 | ▼ 97.8% |
| Taxes450/3 | €27,516 | €38,668 | €35,398 | €85,752 | €1,783 | ▼ 97.9% |
| Remuneration and social security454/9 | €3,231 | €4,046 | €2,870 | €141 | €141 | = |
| Other amounts payable47/48 | €298,651 | €239,480 | €193,831 | €2.0m | €114,217 | ▼ 94.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €258,453 | €95,523 | €164,144 | €98,997 | -€25,756 | ▼ 126% |
| + Depreciation and write-downs630 | €68,733 | €67,847 | €36,214 | €35,522 | €35,540 | ▲ 0.1% |
| Operating cash flow (approximation) | €327,186 | €163,370 | €200,359 | €134,519 | €9,785 | ▼ 92.7% |
| Investment in fixed assets (approximation) | - | €0 | -€25,712 | €22,034 | €0 | ▼ 100% |
| Change in cash | - | €229,285 | -€346,562 | €31,404 | -€62,421 | ▼ 299% |
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
30-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet -€25,756
Net result drops to -€25,756, the lowest in the series.
14-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 14 days late
2024
20-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 20 days late
2023
27-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
10-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 10 days late
2021
12-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 12 days late
2020
13-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Highest result since 2018net €806,700 ▲19.7%
Net result €806,700, the highest in the series.
03-09
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 34 days late
2018
20-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
14-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 11 acts read
About the unread acts
We know of 11 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
11 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, Hoogstraten · 1 establishment unit since 2002
Ground area
889 m²
Building footprint
253 m²
Volume, LiDAR
1,398 m³
Parcel 13020C0132/00R000, Flanders · tallest building 8.0 m, ±2 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
Elsterdijk 11, 2321 Hoogstraten
since 20022.095.530.095
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13020C0132/00R000 | Flanders | 889 m² | 1 · 253 m² | 8.0 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
Owners and holdings
2 holdingsOwners 0
The accounts to 31-12-2025 list no shareholders, and no other source names one.
Holdings 2
-
100%
-
100%
According to the 2025 annual accounts of MERELS HOLDING 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
No current directors or connected companies found in the register.
Recognitions · licences · registrations
Legal Entity Identifier
2221009ZMDBEJ5PUIT09
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Of 24,729 companies in sector 64210 we hold annual accounts for 19,773. 11,800 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded31-12-2001
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
E-invoicing
Reachable via Peppol
Peppol ID
0208:0476536353
Also
9925:BE0476536353
Registered
05-09-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.