MERI
ActiveSummary
The computed 12-month bankruptcy probability of MERI is 1.9% (moderate). The annual accounts of MERI for fiscal year 2024 show a net loss of 80% of the equity at the start of that year. The 2024 annual accounts show equity of €2,752 and a net result of -€10,841. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 27% of 2092 sector peers (fiscal year 2024). The company has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability0▼-82
Solvency32▼-34
Growth85=
Track record100
Bankruptcy probability, 12 months
1.9%
Moderate
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity short (current ratio 0.91 against 1.4 in 2023; short-term debt: 93% and cash: 5.9% of total assets), and 93% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 10
Relative position
BE, all sectors
reference
Manufacture of food products (NACE 10)
about 60% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
7%
Return on assets
-27.7%
Age of the figures
21 mo
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
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 28-08-2025, 28 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
not confirmed
2024
28 d late
2023
30 d late
2022
46 d late
2021
27 d early
2020
76 d late
2019
133 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 48 days after the deadline; the sector median for financial year 2024 is 5 days before the deadline, and 38% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Turnover
€234,892▲ 6.8%
2022 · €219,936
EBIT margin
7.3%▲ 3.5pp
2022 · 3.8%
Net result
-€10,841
2023 · €7,909
Working capital
-€3,391
2023 · €7,889
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 10, Manufacture of food products, 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
Line20202021202220232024
Turnover€191,835▲ 96.0%€183,309▼ 4.4%€219,936▲ 20.0%€234,892▲ 6.8%
Operating result€36,212▲ 1,392%€26,361▼ 27.2%€8,446▼ 68.0%€17,253▲ 104%-€6,943
Net result€34,183above the sector's middle half€22,267within the sector's middle half▼ 34.9%-€5,379within the sector's middle half€7,909within the sector's middle half-€10,841below the sector's middle half
EBIT margin18.9%▲ 16.4pp14.4%▼ 4.5pp3.8%▼ 10.5pp7.3%▲ 3.5pp
Equity-€11,204below the sector's middle half▲ 75.3%€11,063within the sector's middle half€5,684within the sector's middle half▼ 48.6%€13,593within the sector's middle half▲ 139%€2,752below the sector's middle half▼ 79.8%
Total assets€48,691below the sector's middle half▲ 302%€18,981below the sector's middle half▼ 61.0%€24,002below the sector's middle half▲ 26.5%€33,513below the sector's middle half▲ 39.6%€39,085below the sector's middle half▲ 16.6%
Debt€59,895▲ 4.2%€7,918▼ 86.8%€18,318▲ 131%€19,920▲ 8.7%€36,333▲ 82.4%
Working capital-€16,388within the sector's middle half▲ 66.2%€6,912within the sector's middle half€418within the sector's middle half▼ 94.0%€7,889within the sector's middle half▲ 1,790%-€3,391within the sector's middle half
Solvency-23.0%below the sector's middle half▲ 351.8pp58.3%above the sector's middle half▲ 81.3pp23.7%within the sector's middle half▼ 34.6pp40.6%within the sector's middle half▲ 16.9pp7.0%within the sector's middle half▼ 33.5pp
Current ratio0.73within the sector's middle half▲ 0.571.87within the sector's middle half▲ 1.151.02within the sector's middle half▼ 0.851.40within the sector's middle half▲ 0.370.91within the sector's middle half▼ 0.49
Return on assets (ROA)70.2%above the sector's middle half▲ 78.5pp117.3%above the sector's middle half▲ 47.1pp-22.4%below the sector's middle half▼ 139.7pp23.6%above the sector's middle half▲ 46.0pp-27.7%below the sector's middle half▼ 51.3pp
Staff (FTE)
above
within
below
the middle half (P25 to P75) of NACE 10, Manufacture of food products, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €6,943 after €17,253 in 2023, the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €39,085
Fixed assets
€6,143 ▲ 7.7%
Current assets
€32,942 ▲ 18.5%
Equity and liabilities €39,085
Equity
€2,752 ▼ 79.8%
Debt
€36,333 ▲ 82.4%
Debt's share of the balance-sheet total rises from 59.4% to 93.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€5,792▼
2023 · €18,120
Cash flow
-€9,690▼
2023 · €8,777
Quick ratio
0.36▼
2023 · 0.69
Debt to equity
13.20▲
2023 · 1.47
ROE
-393.9%▼
2023 · 58.2%
Interest coverage
-2.49▼
2023 · 9.80
Debt ≤ 1 year
€36,333▲
2023 · €19,920
Income taxes
€1,091▼
2023 · €6,166
Staff costs
€64,069▲
2023 · €52,661
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 540 companies that looked in July 2024 the way this one looks now, 5.2% went bankrupt within 24 months and 86% are still going.
- Micro
- 20 years or older
- solvency under 10%
- a loss of 10% of the balance sheet or more
5.2%
went bankrupt
8.3%
stopped otherwise
86%
still going
A further 0.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.9% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 540 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €191,835 | €183,309 | €219,936 | €234,892 | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | €127,042 | €151,332 | €162,017 | - | - |
| Remuneration, social security and pensions62 | - | €27,499 | €57,970 | €52,661 | €64,069 | ▲ 21.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €956 | €1,033 | €1,033 | €867 | €1,151 | ▲ 32.7% |
| Other operating charges640/8 | - | €1,373 | €1,154 | €2,094 | €9,573 | ▲ 357% |
| Gross operating margin9900 | €59,860 | €56,267 | €68,604 | €72,875 | €67,850 | ▼ 6.9% |
| Operating profit (loss)9901 | €36,212 | €26,361 | €8,446 | €17,253 | -€6,943 | ▼ 140% |
| Financial income75/76B | - | €135 | €3 | €2 | €21 | ▲ 1,294% |
| Recurring financial income75 | €9 | €42 | €3 | €2 | €21 | ▲ 1,294% |
| Non-recurring financial income76B | - | €93 | €3 | €2 | €21 | ▲ 1,294% |
| Financial charges65/66B | - | €2,844 | €10,756 | €3,178 | €2,828 | ▼ 11.0% |
| Recurring financial charges65 | €1,519 | €1,443 | €1,626 | €1,850 | €2,327 | ▲ 25.8% |
| Non-recurring financial charges66B | - | €1,401 | €9,130 | €1,329 | €501 | ▼ 62.3% |
| Profit (loss) for the period before taxes9903 | €34,183 | €23,652 | -€2,307 | €14,076 | -€9,750 | ▼ 169% |
| Income taxes67/77 | - | €1,385 | €3,072 | €6,166 | €1,091 | ▼ 82.3% |
| Profit (loss) for the period9904 | €34,183 | €22,267 | -€5,379 | €7,909 | -€10,841 | ▼ 237% |
| Profit (loss) for the period to be appropriated9905 | €34,183 | €22,267 | -€5,379 | €7,909 | -€10,841 | ▼ 237% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €48,691 | €18,981 | €24,002 | €33,513 | €39,085 | ▲ 16.6% |
| Fixed assets21/28 | €5,184 | €4,151 | €5,266 | €5,704 | €6,143 | ▲ 7.7% |
| Tangible fixed assets22/27 | €2,144 | €1,111 | €2,226 | €2,664 | €1,513 | ▼ 43.2% |
| Furniture and vehicles24 | - | €1,111 | €2,226 | €2,664 | €1,513 | ▼ 43.2% |
| Financial fixed assets28 | €3,040 | €3,040 | €3,040 | €3,040 | €4,630 | ▲ 52.3% |
| Current assets29/58 | €43,507 | €14,830 | €18,736 | €27,810 | €32,942 | ▲ 18.5% |
| Stocks and contracts in progress3 | €511 | €196 | €9,209 | €14,155 | €19,925 | ▲ 40.8% |
| Stocks30/36 | - | €196 | €9,209 | €14,155 | €19,925 | ▲ 40.8% |
| Amounts receivable within one year40/41 | €809 | €2,400 | €901 | €7,457 | €10,704 | ▲ 43.5% |
| Trade receivables40 | - | €1,902 | - | - | - | - |
| Other amounts receivable41 | - | €498 | €901 | €7,457 | €10,704 | ▲ 43.5% |
| Cash at bank and in hand54/58 | €42,187 | €12,234 | €8,625 | €6,198 | €2,313 | ▼ 62.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €48,691 | €18,981 | €24,002 | €33,513 | €39,085 | ▲ 16.6% |
| Equity10/15 | -€11,204 | €11,063 | €5,684 | €13,593 | €2,752 | ▼ 79.8% |
| Contributions10/11 | - | €19,000 | €19,000 | €19,000 | €19,000 | = |
| Reserves13 | €13,900 | €13,900 | €13,900 | €13,900 | €13,900 | = |
| Non-distributable reserves130/1 | - | €1,900 | €1,900 | €1,900 | €1,900 | = |
| Reserves not available under the articles1311 | - | €1,900 | €1,900 | €1,900 | €1,900 | = |
| Distributable reserves133 | - | €12,000 | €12,000 | €12,000 | €12,000 | = |
| Profit (loss) carried forward14 | -€44,104 | -€21,837 | -€27,216 | -€19,307 | -€30,148 | ▼ 56.2% |
| Amounts payable17/49 | €59,895 | €7,918 | €18,318 | €19,920 | €36,333 | ▲ 82.4% |
| Amounts payable within one year42/48 | €59,895 | €7,918 | €18,318 | €19,920 | €36,333 | ▲ 82.4% |
| Trade debts44 | €10,191 | €1,452 | €3,303 | €5,144 | €7,776 | ▲ 51.1% |
| Suppliers440/4 | - | €1,452 | €3,303 | €5,144 | €7,776 | ▲ 51.1% |
| Taxes, remuneration and social security45 | - | €3,466 | €14,516 | €10,189 | €9,828 | ▼ 3.5% |
| Taxes450/3 | - | - | - | - | €250 | - |
| Remuneration and social security454/9 | - | €3,466 | €14,516 | €10,189 | €9,579 | ▼ 6.0% |
| Other amounts payable47/48 | - | €3,000 | €500 | €4,587 | €18,729 | ▲ 308% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €34,183 | €22,267 | -€5,379 | €7,909 | -€10,841 | ▼ 237% |
| + Depreciation and write-downs630 | €956 | €1,033 | €1,033 | €867 | €1,151 | ▲ 32.7% |
| Operating cash flow (approximation) | €35,139 | €23,301 | -€4,346 | €8,777 | -€9,690 | ▼ 210% |
| Investment in fixed assets (approximation) | - | -€0 | -€2,149 | -€1,305 | -€1,590 | ▼ 21.8% |
| Change in cash | - | -€29,953 | -€3,609 | -€2,428 | -€3,885 | ▼ 60.0% |
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
2025
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 28 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
31-12
Financial
Back to profitnet €7,909
Net result €7,909 after one loss-making year.
15-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 46 days late
2022
04-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Liquidity triplescurrent ratio 1.87
Current ratio from 0.73 to 1.87; short-term debt falls from €59,895 to €7,918.
15-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 76 days late
2020
31-12
Financial
Back to profitnet €34,183
Net result €34,183 after 2 loss-making years.
11-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 133 days late
2019
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 28 days late
2018
07-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 7 days late
2017
07-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 7 days late
2016
31-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Evere · 1 establishment unit since 2007
Ground area
511 m²
Building footprint
348 m²
Volume, LiDAR
1,960 m³
Parcel 21006A0369/00R000, Brussels · tallest building 10.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MERI
since 20072.167.343.947
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21006A0369/00R000 | Brussels | 511 m² | 1 · 348 m² | 10.9 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteEvere2.167.343.947
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AYSEM
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PUUR FOOD CONCEPTS
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Of 4,230 companies in sector 10712 we hold annual accounts for 1,875. 422 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded06-08-2002
Fiscal year end31-12
Activities, NACEBEL 2025
10712Artisanal bread and fresh pastry making
47241Retail sale of bread and pastry (bakery outlets)
E-invoicing
Reachable via Peppol
Peppol ID
0208:0478129826
Also
9925:BE0478129826
Registered
29-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.