MERFA
Open bankruptcyFinancials · financial year 2024, micro format
Annual accounts 2024 filed on 18-06-2025 PDF all 43 filings
Equity
-€61,101▼ 24.9%
2023 · -€48,933
Total assets
€5,955▼ 64.4%
2023 · €16,728
Net result
-€12,167▼ 43.3%
2023 · -€8,491
Working capital
-€61,101▼ 24.9%
2023 · -€48,933
Multi-year overview
2018 to 2024, 7 financial yearsOperating result
-€12,094
▼ 44.4%
2024
20182024
Net result
-€12,167
▼ 43.3%
2024
lowest quarter of the sector
20182024
Equity
-€61,101
▼ 24.9%
2024
lowest quarter of the sector
20182024
Total assets
€5,955
▼ 64.4%
2024
lowest quarter of the sector
20182024
Debt
€67,055
▲ 2.1%
2024
20182024
Working capital
-€61,101
▼ 24.9%
2024
lowest quarter of the sector
20182024
Solvency
no figure
2024
20182024
Current ratio
0.09
▼ 0.17
2024
lowest quarter of the sector
20182024
Return on assets (ROA)
-204.3%
▼ 153.6pp
2024
lowest quarter of the sector
20182024
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920202021202220232024
Operating result€15,110--€1,442-€7,401▼ 413%-€28,805▼ 289%-€6,466▲ 77.6%-€8,377▼ 29.6%-€12,094▼ 44.4%
Net result€14,948--€1,638-€7,580below the sector's middle half▼ 363%-€28,799below the sector's middle half▼ 280%-€6,667below the sector's middle half▲ 76.8%-€8,491below the sector's middle half▼ 27.4%-€12,167below the sector's middle half▼ 43.3%
Equity€4,241-€2,604▼ 38.6%-€4,976below the sector's middle half-€33,775below the sector's middle half▼ 579%-€40,442below the sector's middle half▼ 19.7%-€48,933below the sector's middle half▼ 21.0%-€61,101below the sector's middle half▼ 24.9%
Total assets€71,585-€71,059▼ 0.7%€70,396within the sector's middle half▼ 0.9%€41,547below the sector's middle half▼ 41.0%€35,443below the sector's middle half▼ 14.7%€16,728below the sector's middle half▼ 52.8%€5,955below the sector's middle half▼ 64.4%
Debt€67,344-€68,455▲ 1.7%€75,373▲ 10.1%€75,322▼ 0.1%€75,885▲ 0.7%€65,661▼ 13.5%€67,055▲ 2.1%
Working capital-€1,838-€630-€6,703within the sector's middle half-€33,775below the sector's middle half▼ 404%-€40,442below the sector's middle half▼ 19.7%-€48,933below the sector's middle half▼ 21.0%-€61,101below the sector's middle half▼ 24.9%
Solvency5.9%-3.7%▼ 2.3pp-7.1%below the sector's middle half▼ 10.7pp-81.3%below the sector's middle half▼ 74.2pp-114.1%below the sector's middle half▼ 32.8pp-292.5%below the sector's middle half▼ 178.4pp
Current ratio0.97-1.01▲ 0.040.91within the sector's middle half▼ 0.100.55below the sector's middle half▼ 0.360.47below the sector's middle half▼ 0.080.25below the sector's middle half▼ 0.210.09below the sector's middle half▼ 0.17
Return on assets (ROA)20.9%--2.3%▼ 23.2pp-10.8%below the sector's middle half▼ 8.5pp-69.3%below the sector's middle half▼ 58.5pp-18.8%below the sector's middle half▲ 50.5pp-50.8%below the sector's middle half▼ 32.0pp-204.3%below the sector's middle half▼ 153.6pp
above
within
below
The sector band is the middle half of the companies in Retail trade (NACE 47). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2024 is a loss of €12,094, larger than the loss of €8,377 in 2023.
Turnover and EBIT margin are not published. The micro format does not require them.
Key figures and ratios
Debt ≤ 1 year
€67,055▲
2023 · €65,661
A ratio outside any meaningful range has been withheld (balance sheet total €5,955, equity -€61,101).
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,186 | €4,106 | €247 | €1,727 | - | - | - | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €17,402 | - | - | - | - |
| Other operating charges640/8 | - | - | - | €627 | €778 | €796 | €600 | ▼ 24.6% |
| Gross operating margin9900 | €19,796 | €3,300 | -€6,674 | -€9,049 | -€5,688 | -€7,582 | -€11,494 | ▼ 51.6% |
| Operating profit (loss)9901 | €15,110 | -€1,442 | -€7,401 | -€28,805 | -€6,466 | -€8,377 | -€12,094 | ▼ 44.4% |
| Financial income75/76B | - | - | - | €22 | €7 | - | - | - |
| Recurring financial income75 | €20 | €11 | - | €22 | €7 | - | - | - |
| Financial charges65/66B | - | - | - | €16 | €208 | €114 | €74 | ▼ 35.7% |
| Recurring financial charges65 | €182 | €207 | €179 | €16 | €208 | €114 | €74 | ▼ 35.7% |
| Profit (loss) for the period before taxes9903 | €14,948 | -€1,638 | -€7,580 | -€28,799 | -€6,667 | -€8,491 | -€12,167 | ▼ 43.3% |
| Profit (loss) for the period9904 | €14,948 | -€1,638 | -€7,580 | -€28,799 | -€6,667 | -€8,491 | -€12,167 | ▼ 43.3% |
| Profit (loss) for the period to be appropriated9905 | €14,948 | -€1,638 | -€7,580 | -€28,799 | -€6,667 | -€8,491 | -€12,167 | ▼ 43.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €71,585 | €71,059 | €70,396 | €41,547 | €35,443 | €16,728 | €5,955 | ▼ 64.4% |
| Fixed assets21/28 | €6,079 | €1,974 | €1,727 | - | - | - | - | - |
| Tangible fixed assets22/27 | €6,079 | €1,974 | €1,727 | - | - | - | - | - |
| Current assets29/58 | €65,506 | €69,085 | €68,669 | €41,547 | €35,443 | €16,728 | €5,955 | ▼ 64.4% |
| Stocks and contracts in progress3 | €4,640 | €4,375 | €2,866 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €28,594 | €24,864 | €27,430 | €6,210 | €2,528 | €1,759 | €1,212 | ▼ 31.1% |
| Trade receivables40 | - | - | - | €5,615 | €1,831 | €103 | €1,054 | ▲ 926% |
| Other amounts receivable41 | - | - | - | €595 | €697 | €1,656 | €158 | ▼ 90.5% |
| Cash at bank and in hand54/58 | €30,428 | €37,809 | €36,961 | €34,009 | €31,107 | €14,657 | €4,171 | ▼ 71.5% |
| Deferred charges and accrued income490/1 | - | - | - | €1,328 | €1,808 | €312 | €572 | ▲ 83.1% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €71,585 | €71,059 | €70,396 | €41,547 | €35,443 | €16,728 | €5,955 | ▼ 64.4% |
| Equity10/15 | €4,241 | €2,604 | -€4,976 | -€33,775 | -€40,442 | -€48,933 | -€61,101 | ▼ 24.9% |
| Contributions10/11 | €71,000 | €71,000 | €71,000 | €71,000 | €71,000 | €71,000 | €71,000 | = |
| Capital10 | - | - | - | €71,000 | €71,000 | €71,000 | €71,000 | = |
| Issued capital100 | - | - | - | €71,000 | €71,000 | €71,000 | €71,000 | = |
| Reserves13 | €527 | €527 | €527 | €527 | €527 | €527 | €527 | = |
| Non-distributable reserves130/1 | - | - | - | €527 | €527 | €527 | €527 | = |
| Legal reserve130 | - | - | - | €527 | €527 | €527 | €527 | = |
| Profit (loss) carried forward14 | -€67,286 | -€68,924 | -€76,504 | -€105,303 | -€111,969 | -€120,461 | -€132,628 | ▼ 10.1% |
| Amounts payable17/49 | €67,344 | €68,455 | €75,373 | €75,322 | €75,885 | €65,661 | €67,055 | ▲ 2.1% |
| Amounts payable within one year42/48 | €67,344 | €68,455 | €75,373 | €75,322 | €75,885 | €65,661 | €67,055 | ▲ 2.1% |
| Trade debts44 | €482 | €835 | €5,041 | €1,219 | €1,171 | €1,708 | €101 | ▼ 94.1% |
| Suppliers440/4 | - | - | - | €1,219 | €1,171 | €1,708 | €101 | ▼ 94.1% |
| Other amounts payable47/48 | - | - | - | €74,103 | €74,714 | €63,954 | €66,954 | ▲ 4.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €14,948 | -€1,638 | -€7,580 | -€28,799 | -€6,667 | -€8,491 | -€12,167 | ▼ 43.3% |
| + Depreciation and write-downs630 | €4,186 | €4,106 | €247 | €1,727 | - | - | - | - |
| Operating cash flow (approximation) | €19,134 | €2,468 | -€7,333 | -€27,072 | -€6,667 | -€8,491 | -€12,167 | ▼ 43.3% |
| Investment in fixed assets (approximation) | - | €0 | €0 | - | - | - | - | - |
| Change in cash | - | €7,381 | -€847 | -€2,953 | -€2,901 | -€16,451 | -€10,486 | ▲ 36.3% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 43 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2024 | micro format | 18-06-2025 | 2025-00154191 | |
| 31-12-2023 | micro format | 28-06-2024 | 2024-00208413 | |
| 31-12-2022 | micro format | 16-06-2023 | 2023-00131400 | |
| 31-12-2021 | micro format | 15-07-2022 | 2022-20201061 | |
| 31-12-2020 | micro format | 27-08-2021 | 2021-61500469 | |
| 31-12-2019 | micro format | 28-08-2020 | 2020-48400326 | |
| 31-12-2018 | micro format | 17-09-2019 | 2019-64800066 | |
| 31-12-2017 | micro format | 27-06-2018 | 2018-24800519 | |
| 31-12-2016 | micro format | 15-06-2017 | 2017-18500123 | |
| 31-12-2015 | abbreviated format | 23-08-2016 | 2016-47200315 |