Mergo
ActiveMergo has been active since 1997 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €436k and a net result of €78k. Equity is shrinking by ~8.3% per year across the filed fiscal years. Its solvency ranks better than 94% of 9388 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
85
/ 100
Excellent
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability90▼-3
Solvency100=
Growth58=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €35k at 30 days acceptable
Liquidity ample (current ratio 11.52 against 10.11 in 2024; short-term debt: 6.3% and cash: 6.2% of total assets), and 6.3% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers 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
Sector 71
lower
← 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
93.7%
Return on assets
16.7%
Age of the figures
9 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €436k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
17 d late
2023
36 d early
2022
31 d early
2021
57 d early
2020
24 d late
2019
62 d early
← before the deadline
after the deadline →
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
17-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€436k▲ 14.5%
2024 · €381k
2018: €749k
2019: €772k
2020: €506k
2021: €244k
2022: €271k
2023: €331k
2024: €381k
2018 → 2025
Total assets
€465k▲ 12.1%
2024 · €415k
2018: €948k
2019: €946k
2020: €678k
2021: €266k
2022: €296k
2023: €360k
2024: €415k
2018 → 2025
Net result
€78k▼ 3.3%
2024 · €80k
2018: €46k
2019: €23k
2020: €-266k
2021: €63k
2022: €65k
2023: €60k
2024: €80k
2018 → 2025
Working capital
€308k▲ 2.0%
2024 · €302k
2018: €142k
2019: €168k
2020: €598k
2021: €193k
2022: €151k
2023: €235k
2024: €302k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€244k-€271k▲ 11.3%€331k▲ 22.1%€381k▲ 15.0%€436k▲ 14.5%
Operating result€81k-€83k▲ 2.4%€78k▼ 6.1%€103k▲ 31.4%€109k▲ 6.3%
Net result€63k-€65k▲ 3.3%€60k▼ 8.1%€80k▲ 34.0%€78k▼ 3.3%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 6% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €465k
Fixed assets
€128k▲ 60.3%
Current assets
€337k▲ 0.7%
Equity and liabilities €465k
Equity
€436k▲ 14.5%
Debt
€29k▼ 14.2%
The debt ratio falls from 8.2% to 6.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€140k▲
2024 · €125k
Cash flow
€109k▲
2024 · €102k
Solvency
93.7%▲
2024 · 91.8%
Current ratio
11.52▲
2024 · 10.11
Quick ratio
11.52▲
2024 · 10.11
Debt / equity
0.07▼
2024 · 0.09
ROE
17.8%▼
2024 · 21.1%
ROA
16.7%▼
2024 · 19.3%
Interest coverage
600.66▲
2024 · 102.96
Debt
€29k▼
2024 · €34k
Debt ≤ 1 year
€29k▼
2024 · €33k
Income taxes
€35k▲
2024 · €28k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€415k€465k▲
Fixed assets21/28€80k€128k▲
Tangible fixed assets22/27€75k€123k▲
Land and buildings22€23k€19k▼
Plant, machinery and equipment23€3k€2k▼
Furniture and vehicles24€50k€102k▲
Financial fixed assets28€4k€4k=
Current assets29/58€335k€337k▲
Amounts receivable within one year40/41€89k€57k▼
Trade receivables40€86k€56k▼
Other amounts receivable41€3k€2k▼
Current investments50/53€226k€210k▼
Cash at bank and in hand54/58€17k€29k▲
Deferred charges and accrued income490/1€3k€41k▲
Equity and liabilities
Total equity and liabilities10/49€415k€465k▲
Equity10/15€381k€436k▲
Contributions10/11€19k€19k=
Reserves13€362k€417k▲
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€360k€415k▲
Profit (loss) carried forward14€0€0=
Amounts payable17/49€34k€29k▼
Amounts payable within one year42/48€33k€29k▼
Trade debts44€3k€887▼
Suppliers440/4€3k€887▼
Taxes, remuneration and social security45€18k€15k▼
Taxes450/3€15k€12k▼
Remuneration and social security454/9€3k€3k▲
Other amounts payable47/48€12k€14k▲
Accrued charges and deferred income492/3€996€0▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€22k€31k▲
Other operating charges640/8€4k€2k▼
Non-recurring operating charges66A€0-
Gross operating margin9900€129k€143k▲
Operating profit (loss)9901€103k€109k▲
Financial income75/76B€7k€4k▼
Recurring financial income75€7k€4k▼
Financial charges65/66B€1k€234▼
Recurring financial charges65€1k€234▼
Profit (loss) for the period before taxes9903€108k€113k▲
Income taxes67/77€28k€35k▲
Profit (loss) for the period9904€80k€78k▼
Profit (loss) for the period to be appropriated9905€80k€78k▼
Appropriation of the result
Profit (loss) to be appropriated9906€17k€78k▲
Profit (loss) brought forward from the previous period14P€-63k€0▲
Transfer from equity791/2€30k€23k▼
Transfer to equity691/2€17k€78k▲
To other reserves6921€17k€78k▲
Profit to be distributed694/7€30k€23k▼
Return on contributions (dividend)694€30k€23k▼
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
17-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 17 days late
2024
31-12
Financial
Highest result since 2018net €80k ▲34%
Net result €80k, the highest in the series.
25-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
04-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €63k
Net result €63k after one loss-making year.
24-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 24 days late
2020
31-12
Financial
Weakest financial yearnet €-266k ▼1279%
Net result drops to €-266k, the lowest in the series; recovery starts the following year.
30-05
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
07-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 38 days late
2018
31-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
30-05
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 act for this company is 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, Kaprijke · 1 establishment unit since 1997
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Gentweg 229971 KaprijkeGround area
2,662 m²
Building footprint
125 m²
Volume, LiDAR
687 m³
Parcel 43009C1550/00E000, Flanders · tallest building 7.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Mergo
since 19972.084.394.495
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 43009C1550/00E000 | Flanders | 2,661 m² | 1 · 125 m² | 7.7 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
ABYSSE
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ERIK CEULEMANS
BE 0460.832.251
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VEG INVEST
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Of 1,760 companies in sector 71122 we hold annual accounts for 769. 551 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded05-11-1997
Fiscal year end31-12
Activities, NACEBEL
71122Land surveying
Sources
Crossroads Bank for EnterprisesNational Bank · 27 filingsAddress and cadastre registers
Data from official sources, last processed on 16-09-2026. Scores and ratios are computed by Checked and are not a credit decision.