MERENA
Annual accounts 2025
micro format, filed on 20-04-2026, 71 days before the deadline€7.9m
▼ 19.0%
€8.8m
▼ 12.9%
-€1.0m
▼ €952,960
90.1%
▼ 6.9 percentage points
-12.8%
▼ 12.2 percentage points
-11.5%
▼ 11.0 percentage points
Turnover and EBIT margin are not published. The micro format does not require them.
Money flows
no detail for 2025Balance sheet
balance sheet total €8.8m on 30-11-2025What the company ownsHow it is paid for
in €m
in €m
Position in the sector
90.1%
Higher than 88% of 9,771 companies in 2025.
-11.5%
Higher than 6% of 9,625 companies in 2025.
MERENA
Middle half of the sector
80% of the sector
Micro accounts in financial services (NACE 64)
Net result: bottom quarter · Equity: top quarter · Balance sheet total: top quarter
Staff
€55,971
Staff costs divided by the average number of full-time equivalents.
people who joined
people who left
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||||||||||||
20/58 |
8.8m | 10.1m | 10.1m | 9.7m | 9.3m | 8.7m | 9.6m | 5.0m | 5.0m | 5.0m | 4.9m | 4.9m | 4.6m | 4.0m | 3.6m | 3.4m | 3.2m | 2.8m | 2.4m | 2.3m | |
21/28 |
4.4m | 7.2m | 7.3m | 6.6m | 4.0m | 4.3m | 4.3m | 4.9m | 4.9m | - | 4.9m | 4.9m | 4.5m | 3.9m | 3.5m | 3.3m | 3.0m | 2.7m | 2.2m | 1.9m | |
22/27 |
20,560 | 32,643 | 53,770 | 70,502 | 6,864 | 10,136 | 13,091 | 3,171 | 3,941 | 4,289 | 1,546 | 616 | 301 | 1,426 | 4,291 | 15,571 | 28,488 | 39,227 | 52,657 | 11,676 | |
24 |
20,560 | 32,643 | 53,770 | 70,502 | 6,864 | 10,136 | 13,091 | 3,171 | 3,941 | 4,289 | 1,521 | 565 | 224 | 1,324 | 3,931 | 14,953 | 27,612 | 38,094 | 51,266 | 10,283 | |
26 |
- | - | - | - | - | - | - | - | - | - | 26 | 51 | 77 | 102 | 360 | 618 | 876 | 1,133 | 1,391 | 1,393 | |
28 |
4.4m | 7.2m | 7.3m | 6.5m | 4.0m | 4.3m | 4.3m | 4.9m | 4.9m | 4.9m | 4.9m | 4.9m | 4.5m | 3.9m | 3.4m | 3.3m | 3.0m | 2.7m | 2.2m | 1.9m | |
29/58 |
4.3m | 2.8m | 2.8m | 3.2m | 5.3m | 4.5m | 5.3m | 48,527 | 67,095 | 41,149 | 51,538 | 40,612 | 91,180 | 57,585 | 141,958 | 132,347 | 114,837 | 137,031 | 201,848 | 374,884 | |
40/41 |
316,834 | 139,761 | 10,213 | 45,169 | 45,476 | 69,845 | 47,093 | 40,364 | 66,647 | 39,202 | 36,750 | 36,606 | 35,982 | 47,941 | 38,877 | 64,014 | 98,447 | 38,600 | 31,343 | 145,248 | |
40 |
2,000 | 5,493 | 4,061 | 41,201 | 40,644 | 35,825 | 34,994 | 34,994 | 57,348 | 34,994 | 35,722 | 36,344 | 35,167 | 34,994 | 34,994 | 57,447 | 35,482 | 37,153 | 20,370 | 142,720 | |
41 |
314,834 | 134,268 | 6,152 | 3,968 | 4,832 | 34,020 | 12,099 | 5,370 | 9,299 | 4,208 | 1,028 | 262 | 815 | 12,947 | 3,883 | 6,567 | 62,964 | 1,447 | 10,973 | 2,528 | |
50/53 |
2.9m | 2.4m | 2.3m | 2.9m | 4.3m | 3.6m | 4.1m | - | - | - | - | - | - | - | - | 67,200 | - | 97,297 | 97,297 | 212,297 | |
54/58 |
1.1m | 271,395 | 427,629 | 202,290 | 899,756 | 754,012 | 1.2m | 7,837 | 297 | 1,581 | 14,334 | 3,518 | 26,212 | 9,216 | 102,236 | - | 15,776 | - | 70,700 | 16,074 | |
490/1 |
1,356 | 1,541 | 4,246 | 2,100 | 1,155 | 1,300 | 1,250 | 326 | 151 | 366 | 454 | 487 | 28,986 | 428 | 845 | 1,133 | 614 | 1,134 | 2,509 | 1,265 | |
| Balance sheet: equity and liabilities | |||||||||||||||||||||
10/49 |
8.8m | 10.1m | 10.1m | 9.7m | 9.3m | 8.7m | 9.6m | 5.0m | 5.0m | 5.0m | 4.9m | 4.9m | 4.6m | 4.0m | 3.6m | 3.4m | 3.2m | 2.8m | 2.4m | 2.3m | |
10/15 |
7.9m | 9.7m | 10.1m | 9.7m | 9.2m | 8.7m | 8.9m | 3.1m | 3.1m | 3.2m | 3.3m | 3.3m | 3.3m | 3.1m | 2.8m | 2.7m | 2.4m | 2.2m | 1.7m | 1.3m | |
10/11 |
500,000 | 500,000 | 500,000 | 500,000 | 500,000 | 500,000 | 500,000 | 500,000 | 500,000 | - | 500,000 | 500,000 | 500,000 | 500,000 | 500,000 | 500,000 | 500,000 | 500,000 | 500,000 | 500,000 | |
10 |
500,000 | 500,000 | 500,000 | 500,000 | 500,000 | - | - | - | - | 500,000 | - | - | - | - | - | - | - | - | - | - | |
100 |
500,000 | 500,000 | 500,000 | 500,000 | 500,000 | 500,000 | 500,000 | 500,000 | 500,000 | 500,000 | 500,000 | 500,000 | 500,000 | 500,000 | 500,000 | 500,000 | 500,000 | 500,000 | 500,000 | 500,000 | |
13 |
6.7m | 7.5m | 7.8m | 7.3m | 6.9m | 6.4m | 6.4m | 550,000 | 550,000 | 550,000 | 550,000 | 550,000 | 550,000 | 550,000 | 550,000 | 550,000 | 550,000 | 550,000 | 550,000 | 550,000 | |
130/1 |
50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
130 |
50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | |
133 |
6.6m | 7.5m | 7.7m | 7.3m | 6.8m | 6.3m | 6.3m | 500,000 | 500,000 | 500,000 | 500,000 | 500,000 | 500,000 | 500,000 | 500,000 | 500,000 | 500,000 | 500,000 | 500,000 | 500,000 | |
14 |
734,273 | 1.7m | 1.8m | 1.8m | 1.8m | 1.8m | 2.1m | 2.1m | 2.1m | 2.2m | 2.2m | 2.2m | 2.2m | 2.0m | 1.8m | 1.6m | 1.4m | 1.1m | 675,971 | 216,602 | |
17/49 |
862,954 | 300,869 | 60,491 | 92,244 | 98,719 | 75,299 | 649,622 | 1.9m | 1.8m | 1.8m | 1.7m | 1.6m | 1.3m | 894,399 | 771,578 | 721,154 | 743,767 | 648,054 | 713,618 | 1.1m | |
42/48 |
862,954 | 299,369 | 59,420 | 92,244 | 98,719 | 75,299 | 649,622 | 1.9m | 1.8m | 1.8m | 1.7m | 1.6m | 1.3m | 894,397 | 771,578 | 721,154 | 743,767 | 647,906 | 703,487 | 1.1m | |
43 |
- | - | - | - | - | 80 | - | - | - | - | - | - | - | - | - | 67,818 | 185,920 | 333,919 | 433,814 | 557,760 | |
430/8 |
- | - | - | - | - | 80 | - | - | - | - | - | - | - | - | - | 67,818 | 185,920 | 333,919 | 433,814 | 557,760 | |
44 |
6,497 | 7,218 | 10,542 | 5,858 | 1,619 | 1,400 | 927 | 1,791 | - | 2,149 | 319 | 53 | 1,490 | 1,517 | 6,243 | 627 | 3,108 | 1,526 | 4,506 | 3,228 | |
440/4 |
6,497 | 7,218 | 10,542 | 5,858 | 1,619 | 1,400 | 927 | 1,791 | - | 2,149 | 319 | 53 | 1,490 | 1,517 | 6,243 | 627 | 3,108 | 1,526 | 4,506 | 3,228 | |
45 |
14,353 | 25,582 | 17,979 | 37,988 | 55,945 | 1,324 | 582,955 | 400 | 4,108 | 691 | 1,730 | 2,199 | 4,869 | 3,613 | 10,654 | 2,107 | 7,835 | 18,550 | 19,064 | 14,336 | |
450/3 |
1,094 | 12,679 | 5,487 | 30,091 | 50,480 | 24 | 582,955 | 400 | 4,108 | 691 | 1,730 | 2,199 | 4,869 | 3,613 | 7,098 | 2,107 | 7,835 | 18,550 | 19,064 | 14,336 | |
454/9 |
13,259 | 12,903 | 12,492 | 7,897 | 5,465 | 1,300 | - | - | - | - | - | - | - | - | 3,555 | - | - | - | - | - | |
47/48 |
842,105 | 266,569 | 30,900 | 48,397 | 41,155 | 72,495 | 65,740 | 1.9m | 1.8m | 1.8m | 1.7m | 1.6m | 1.3m | 889,267 | 754,681 | 650,602 | 546,905 | 293,910 | 246,103 | 478,474 | |
492/3 |
- | 1,500 | 1,071 | - | - | - | - | - | - | - | - | 9 | 14 | 3 | - | - | - | 148 | 10,131 | 1,163 | |
| Income statement | |||||||||||||||||||||
70 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 34,386 | - | - | 186,911 | 186,912 | |
76A |
- | 1,144 | - | - | - | - | - | - | - | - | 7,500 | 3,750 | 33,757 | - | - | 20 | - | - | 1,000 | - | |
9900 |
-54,677 | -38,978 | 8,775 | -20,852 | 27,319 | -17,650 | -91,439 | -37,440 | -47,371 | -47,578 | -53,189 | -10,984 | -5,062 | -21,904 | -77,518 | -96,051 | -97,246 | -36,929 | 68,620 | 73,421 | |
60/61 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 132,808 | - | - | 119,954 | 114,719 | |
62 |
55,971 | 52,517 | 52,291 | 38,296 | 17,391 | - | - | - | - | - | - | - | - | 3,536 | 16,245 | - | - | - | - | 11,700 | |
630 |
14,455 | 21,127 | 20,583 | 16,798 | 3,272 | 4,556 | 4,838 | 1,887 | 2,156 | 1,816 | 995 | 397 | 1,126 | 2,865 | 14,640 | 14,431 | 14,883 | 15,338 | 15,599 | 4,238 | |
640/8 |
4,469 | 4,421 | 39,571 | 6,767 | 3,540 | 1,148 | 1,049 | 992 | 983 | 1,739 | 1,695 | 1,691 | 1,788 | 1,750 | 1,700 | 1,708 | 2,971 | 3,382 | 1,881 | 1,530 | |
66A |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 431 | - | |
9901 |
-129,572 | -117,043 | -103,670 | -82,713 | 3,117 | -23,354 | -97,327 | -40,319 | -50,510 | -51,133 | -55,879 | -13,072 | -7,976 | -30,055 | -110,103 | -112,190 | -115,101 | -55,648 | 51,140 | 55,953 | |
75/76B |
1.6m | 297,481 | 600,517 | 619,418 | 711,235 | 272,608 | 6.9m | - | - | - | 12,385 | 41 | 175,090 | 306,081 | 242,890 | 397,489 | 341,972 | 548,434 | 465,664 | 112,440 | |
75 |
1.1m | 297,481 | 544,905 | 393,799 | 711,235 | 272,608 | 6.9m | - | - | - | 12,385 | 41 | 175,090 | 306,081 | 242,890 | 397,489 | 341,972 | 548,434 | 465,664 | 112,440 | |
76B |
504,944 | - | 55,612 | 225,618 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
65/66B |
2.5m | 238,932 | 51,350 | 4,966 | 159,411 | 503,071 | 452,592 | 314 | 194 | - | 273 | 332 | 312 | 413 | 719 | 2,163 | 7,678 | 26,199 | 42,355 | 23,653 | |
65 |
525 | 1,154 | 1,956 | 4,966 | 159,411 | 503,071 | 452,592 | 314 | 194 | 277 | 273 | 332 | 312 | 413 | 719 | 2,163 | 7,678 | 26,199 | 42,355 | 23,653 | |
66B |
2.5m | 237,779 | 49,394 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
9903 |
-1.0m | -58,494 | 445,498 | 531,739 | 554,941 | -253,818 | 6.4m | -40,633 | -50,704 | -51,410 | -36,266 | -9,614 | 200,559 | 275,614 | 132,068 | 283,156 | 219,192 | 466,586 | 475,019 | 144,740 | |
67/77 |
268 | 117 | 40,596 | 48,437 | 50,567 | 68 | 581,202 | 368 | 427 | 425 | 417 | 383 | 332 | 23 | - | - | - | 4,249 | 15,650 | 18,125 | |
9904 |
-1.0m | -58,611 | 404,902 | 483,302 | 504,374 | -253,886 | 5.8m | -41,000 | -51,131 | -51,835 | -36,683 | -9,997 | 200,227 | 275,591 | 132,068 | 283,156 | 219,192 | 462,338 | 459,369 | 126,615 | |
9905 |
-1.0m | -58,611 | 404,902 | 483,302 | 504,374 | -253,886 | 5.8m | -41,000 | -51,131 | -51,835 | -36,683 | -9,997 | 200,227 | 275,591 | 132,068 | 283,156 | 219,192 | 462,338 | 459,369 | 126,615 | |
| Appropriation of the result | |||||||||||||||||||||
9906 |
734,273 | 1.7m | 2.2m | 2.3m | 2.3m | 1.8m | 7.9m | 2.1m | 2.1m | 2.2m | 2.2m | 2.2m | 2.2m | 2.0m | 1.8m | 1.6m | 1.4m | 1.1m | 675,971 | 731,102 | |
14P |
1.7m | 1.8m | 1.8m | 1.8m | 1.8m | - | - | - | - | 2.2m | - | - | - | - | - | - | - | - | - | - | |
791/2 |
842,105 | 250,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
691/2 |
- | - | 404,900 | 483,000 | 504,300 | - | 5.8m | - | - | - | - | - | - | - | - | - | - | - | - | 514,500 | |
6920 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 14,500 | |
6921 |
- | - | 404,900 | 483,000 | 504,300 | - | 5.8m | - | - | - | - | - | - | - | - | - | - | - | - | 500,000 | |
694/7 |
842,105 | 250,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
694 |
842,105 | 250,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Social balance sheet | |||||||||||||||||||||
9087 |
1 | 1 | 1 | 0.9 | 1 | - | - | - | - | - | - | - | - | - | 0.4 | - | - | - | - | 0.3 | |
Hours worked1013 |
1,855 | 1,764 | 1,847 | 1,688 | 817 | - | - | - | - | - | - | - | - | - | 726 | - | - | - | - | 326 | |
| Document | |||||||||||||||||||||
The accounts for 5 older financial years (2001-2005) were filed as documents without figures as data, scans for example.
The notes to these accounts have 10 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 20-04-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-11-2025 | micro format | 20-04-2026 | 2026-00084287 | |
| 30-11-2024 | micro format | 01-04-2025 | 2025-00065096 | |
| 30-11-2023 | micro format | 11-04-2024 | 2024-00061396 | |
| 30-11-2022 | micro format | 31-03-2023 | 2023-00050888 | |
| 30-11-2021 | micro format | 01-06-2022 | 2022-20046618 | |
| 30-11-2020 | micro format | 02-06-2021 | 2021-16700350 | |
| 30-11-2019 | micro format | 22-04-2020 | 2020-09600519 | |
| 30-11-2018 | micro format | 16-04-2019 | 2019-10100213 | |
| 30-11-2017 | micro format | 09-04-2018 | 2018-09400097 | |
| 30-11-2016 | full format | 02-02-2018 | 2018-04300214 | |
| 30-11-2015 | full format | 20-05-2016 | 2016-12800263 | |
| 30-11-2014 | full format | 12-05-2015 | 2015-11900012 | |
| 30-11-2013 | full format | 13-06-2014 | 2014-17500510 | |
| 30-11-2012 | full format | 07-06-2013 | 2013-16100182 | |
| 30-11-2011 | full format | 21-05-2012 | 2012-12500299 | |
| 30-11-2010 | full format | 17-05-2011 | 2011-11300087 | |
| 30-11-2009 | full format | 27-05-2010 | 2010-13100089 | |
| 30-11-2008 | full format | 29-04-2009 | 2009-12500093 | |
| 30-11-2007 | full format | 23-04-2008 | 2008-11300015 | |
| 30-11-2006 | full format | 29-05-2007 | 2007-16700340 | |
| 30-11-2005 | full format | 27-11-2006 | 2006-89003764 | |
| 30-11-2004 | full format | 28-04-2005 | 2005-13302203 | |
| 30-11-2003 | full format | 03-05-2004 | 2004-13102233 | |
| 30-11-2002 | full format | 08-05-2003 | 2003-13100211 | |
| 30-11-2001 | full format | 03-05-2002 | 2002-11403344 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2,373 | -72,655 | 769,437 | 959,839 | 175 | 672,495 | 14,758 | 1,117 | 1,807 | 54,559 | 294,025 | 462,212 | 614,400 | 629,800 | 187,520 | 257,444 | 576,984 | 476,929 | 307,091 | 480,465 | ||
| 802,723 | -156,234 | 225,340 | -697,466 | 145,743 | -419,035 | 1.2m | 7,540 | -1,284 | -12,753 | 10,816 | -22,694 | 16,996 | -93,020 | - | - | - | - | 54,626 | - | ||
| - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 27.4% | 29.9% | ||
| 90.1% | 97.0% | 99.4% | 99.1% | 98.9% | 99.1% | 93.2% | 62.5% | 63.1% | 64.4% | 65.9% | 66.9% | 71.7% | 77.6% | 78.5% | 78.9% | 76.4% | 77.2% | 70.7% | 54.6% | ||
| -12.8% | -0.6% | 4.0% | 5.0% | 5.5% | -2.9% | 65.2% | -1.3% | -1.6% | -1.6% | -1.1% | -0.3% | 6.1% | 8.9% | 4.7% | 10.5% | 9.1% | 21.1% | 26.6% | 10.0% | ||
| -11.5% | -0.6% | 4.0% | 5.0% | 5.4% | -2.9% | 60.7% | -0.8% | -1.0% | -1.0% | -0.7% | -0.2% | 4.4% | 6.9% | 3.7% | 8.3% | 7.0% | 16.3% | 18.8% | 5.5% |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Social balance sheet
| Item | 30-11-2025 | 30-11-2024 | 30-11-2023 | 30-11-2022 | 30-11-2021 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 1 | 1 | 1 |
| full-time | 1 | 1 | 1 | 1 | - |
| part-time | - | - | - | - | 1 |
| in full-time equivalents | 1 | 1 | 1 | 1 | 0.5 |
| 1 | 1 | 1 | 0.9 | 0.5 | |
| On a permanent contract | 1 | 1 | 1 | 1 | 1 |
| Joined | - | - | - | - | 1 |
| Left | - | - | - | - | 0 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
fixed assets acquired| Item | 30-11-2025 | 30-11-2024 | 30-11-2023 | 30-11-2022 | 30-11-2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €2,373 | - | €3,852 | €80,435 | - |
| Financial fixed assets | - | - | €765,585 | €879,404 | €175 |
| €14,455 | €21,127 | €20,583 | €16,798 | €3,272 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on MERENA
The operating result for 2025 is a loss of €129,572, larger than the loss of €117,043 in 2024. It is the lowest result since 2006.
Debt's share of the balance-sheet total rises from 3.0% to 9.9%. Equity is lower and debt is higher.