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MERLEN GROUP

Active
Private limited companyfounded 201115 yrs activeNeerstraat 159, 9250 Waasmunster, BelgiumKBO/BCE: BE 0837.593.119
Summary

MERLEN GROUP has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2,669 and a net result of -€991. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 10% of 33831 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).

Risk analysisWatch ReportCompare
MERLEN GROUPActiveChecked score 65/100
Risk analysis ReportCompare

Overview

Activity
Joinery installation
NACE 43320
1 site
Size
€243,803total assets 2025
Equity
€2,669
Loss
-€991
Turnover not published (abridged schema)
Financial health
65 Healthy Checked score 2025
Bankruptcy chance 12 m
0.9%
Structure
Board
1 member
Holdings
2
Accounts 3 d early1 of 13 deeds read
Why 65- Sector Specialised construction activities (NACE 43)- Liquidity: current ratio 0.16, cash €194, halved+ Size: total assets €243,803+ Founded in 2011Show the evidence

Checked score

Score 2025
65 / 100
Healthy
Probability in this band: 0.55% to 1.5%
Better than 17% of its sector peers (NACE 43, micro)
Performance against the sector, not lower risk
Every signal that weighs is under Signals.
Financial strength · tick = 2024
Weak
Solvency 26=
equity 1.1% of total assets
Liquidity 30-7
short-term debt 42.6% · cash 0.1%
Profitability 59+19
return on assets -0.4%
Bankruptcy probability, 12 months
0.9% Low
0%0.5%1.5%4%10%≥ 25%

About 9 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.7% (47,133 companies)
Last 24 months 11-2024: 0.6% 12-2024: 0.6%● 0.0% vs 11-2024 01-2025: 0.6%▲ +4.7% vs 12-2024 02-2025: 0.6%▼ -5.8% vs 01-2025 03-2025: 0.6%▼ -4.3% vs 02-2025lowest value 04-2025: 0.7%▲ +27.1% vs 03-2025 05-2025: 1.2%▲ +65.7% vs 04-2025 06-2025: 1.2%▲ +4.6% vs 05-2025 07-2025: 1.2%▲ +0.9% vs 06-2025 08-2025: 1.2%● 0.0% vs 07-2025 09-2025: 1.2%● 0.0% vs 08-2025 10-2025: 1.2%● 0.0% vs 09-2025 11-2025: 1.2%● 0.0% vs 10-2025 12-2025: 1.2%● 0.0% vs 11-2025 01-2026: 1.3%▲ +1.4% vs 12-2025 02-2026: 1.2%▼ -6.8% vs 01-2026 03-2026: 1.1%▼ -4.7% vs 02-2026 04-2026: 1.3%▲ +17.1% vs 03-2026highest value 05-2026: 0.9%▼ -29.1% vs 04-2026 06-2026: 0.9%● 0.0% vs 05-2026 07-2026: 0.9%● 0.0% vs 06-2026 08-2026: 0.9%● 0.0% vs 07-2026 09-2026: 0.9%● 0.0% vs 08-2026 10-2026: 0.9%▼ -7.9% vs 09-2026
  • Size: total assets €243,803 lowers the probability for this profile
  • Sector Specialised construction activities (NACE 43) raises the probability
  • Founded in 2011 lowers the probability for this profile
  • Liquidity: current ratio 0.16, cash €194, halved raises the probability
How it is calculated

The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 43, micro). Better than this share of them on solvency 9%, liquidity 18%, profitability 28%, growth against the median 15%. That is performance, not lower risk; the band itself always comes from the probability.

Bankruptcy probability: model pd-v3.202610021621, computed on 03-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.

Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.

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Signals

Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Size: total assets €243,803
In the bankruptcy model this factor lowers the probability for this profile.
NBB · annual accounts
raises risk · Sector Specialised construction activities (NACE 43)
In the bankruptcy model this factor raises the probability.
KBO
lowers risk · Founded in 2011
In the bankruptcy model this factor lowers the probability for this profile.
KBO
raises risk · Liquidity: current ratio 0.16, cash €194, halved
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025
Net result per financial year
19202122232425
2019 to 2025 · latest year -€991
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 10% of 33831 sector peers (2025).
NBB · sector comparison
Position among 33831 sector peers
Solvency
better than 10%
← weakest strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 27-04-2026, 3 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
3 d early
2024
7 d late
2023
on the day
2022
1 d early
2021
37 d early
2020
30 d early
2019
23 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 12 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.

Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today. Usually files around 29 April (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Position in the running window
30-09-2026 close04-10-2026 today30-04-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage
  1. Annual accounts filedfiscal year 2025 · micro…
  2. Resignation: Els Van Delm (director)Appointment: Johan Willaerts (sole director)
  3. Annual accounts filedfiscal year 2024 · micro…

Key points

  • Caution: Among the weakest 10% on solvencysector median 47.1% · 33,831 companies 1.1% View
  • Caution: Board changedlatest change 20-02-2026 · 1 in office 1 joined · 1 left View
  • Caution: 2 loss-making years in a rowloss fiscal year 2025 -€991 View

By topic

Financials

Fiscal year
2025
Total assets
€243,803
Loss
-€991
Solvency
1.1%
Total assets▼ 6.7%
Net result
20192025
Go to Financials

Timeline

Events
12
Since
2017
Next accounts
by 30-04-2027
  1. 27-04-2026Annual accounts filed
  2. 09-03-2026Resignation: Els Van Delm (director)
  3. 07-05-2025Annual accounts filed
Go to Timeline

Company details

Sites
1
Legal form
Private limited company
Activity
Joinery installationNACE 43320
Founded
05-07-2011
Year ends
30-09
Peppol
Reachable for e-invoices
Go to Company details

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