Equity
€84,865 ▲ 18.5%
MERLIEN has made a profit in every financial year since 2023.
MERLIEN
Overview
Lifetime
3 annual accounts with figures on one time axispeak €72,300 (2023)
€23,567▼ 29.2%
peak €47,435 (2023)
€13,247▼ 37.5%
peak €84,865 (2025)
€84,865▲ 18.5%
€56,853▲ 653%
Board1 name since 2022
1 directorHAUWELAERT Rudy,Arie,Augustin
Documentsfilings and deeds
13-08-202613 days late
2025micro format
Gross margin from €33,272 to €23,567Result from €21,184 to €13,247Equity from €71,618 to €84,865Debts from €7,554 to €56,853
Key points
from the 2025 annual accountsTurnover
≈ €280,000 estimated
The micro format states no turnover.
Investments
€4,469 2.6 × depreciation
Green is investment, beige is depreciation.
Liquidity
2.44 was 10.48 in 2024
Short-term debts rose from €7,554 to €56,853.
Filings
3 annual accounts 1 late
The 2025 accounts came 13 days late. The other two were filed on time.
Starting capital
€3,000 100 shares
Checked score
85
Excellent
Financially stronger than 69% of micro companies in construction of buildings (NACE 41)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.4% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 1.5% across 13,460 companies (NACE 41, micro).
About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.4%
01-2025: 0.4%● unchanged vs 12-2024
02-2025: 0.4%● unchanged vs 01-2025
03-2025: 0.4%● unchanged vs 02-2025
04-2025: 0.4%● unchanged vs 03-2025
05-2025: 0.5%▲ +0.1 percentage points vs 04-2025
06-2025: 0.5%● unchanged vs 05-2025
07-2025: 0.6%▲ +0.1 percentage points vs 06-2025
08-2025: 0.4%▼ -0.2 percentage points vs 07-2025
09-2025: 0.3%▼ -0.1 percentage points vs 08-2025
10-2025: 0.3%● unchanged vs 09-2025
11-2025: 0.3%● unchanged vs 10-2025
12-2025: 0.3%● unchanged vs 11-2025
01-2026: 0.2%▼ -0.1 percentage points vs 12-2025lowest value
02-2026: 0.2%● unchanged vs 01-2026
03-2026: 0.2%● unchanged vs 02-2026
04-2026: 0.2%● unchanged vs 03-2026
05-2026: 0.3%▲ +0.1 percentage points vs 04-2026
06-2026: 0.3%● unchanged vs 05-2026
07-2026: 0.4%▲ +0.1 percentage points vs 06-2026
08-2026: 0.6%▲ +0.2 percentage points vs 07-2026highest value
09-2026: 0.4%▼ -0.2 percentage points vs 08-2026
10-2026: 0.4%● unchanged vs 09-2026
11-2026: 0.4%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
raises risk
Sector: Construction of residential and non-residential buildings (NACE 41)
Founded in 2022
lowers risk
Liquidity: current ratio 2.44, cash €82,842
Equity €84,865 (59.9% of total assets)
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 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% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 41, micro). It does better than 69% of them on solvency, 84% on liquidity, 62% on profitability and 63% on growth.
The bankruptcy probability was computed on 10-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 39,278 companies had the same profile as MERLIEN has now. Each dot stands for 99 companies, two years later.
95.8%
were still trading
2.3%
stopped another way
1.8%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MERLIEN itself: 0.4% within 12 months.
Test of the method
The method was tested on the 497,448 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 39,278 companies, not a prediction for MERLIEN. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €7,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 2.44 (10.48 in 2024), above the usual 1.5. Short-term debt is 40.1% and cash 58.5% of total assets. 40.1% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises risk
raises risk · 2025 accounts filed 13 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 13-08-2026, 13 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 3 filingsDeviation from the deadline
2025
13 days late
2024
34 days early
2023
41 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 3 accounts on average 21 days before the deadline. In the sector (NACE 41), the median for financial year 2024 was on the deadline day, and 46% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 27 June (3 of the last 3 accounts filed within 47 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
11-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- Hauwelaert Rudy 100 sharesdeed of 17-01-2022
- HAUWELAERT Rudy,Arie,Augustin founderdeed of 17-01-2022
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0780403602
Incorporation
Founding capital of €3,000, 100 shares · Founder: HAUWELAERT Rudy, Arie, Augustin (comparant) · Appointment: HAUWELAERT Rudy, Arie, Augustin (director) · published on 17-01-2022 · Gazette deed
First establishment
Sint-Godardusstraat 4, Asse
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| MERLIEN Asse | - | - | 59.9% | - |
| M&G WINDOWS Asse | €344,228 | 2.0% | 37.1% | - |
| MELIMATT RENOV Grimbergen | - | - | 49.7% | - |
| BARTELLO CONTRACTORS Zaventem | - | - | 79.6% | - |
| UKR TEK Merchtem | €399,011 | 3.0% | 37.1% | - |
| T&B Construct Dilbeek | - | - | 3.6% | - |
| SCR CONSTRUCT Wezembeek-Oppem | €317,876 | 5.7% | 18.0% | - |
These companies have the same main activity as MERLIEN: general construction of residential buildings (NACE 41001). They are comparable in size and age: total assets between €131,000 and €166,000, founded between 2021 and 2022.
Official details
Source: KBO- Status
- Active since 13-01-2022Normal situation
- Activity
- General construction of residential buildingsNACE 41001and 5 others
- Establishment unit
- 2.328.295.7501730 Asse, since 13-01-2022
- Financial year end
- 31 December
- Peppol
- Reachable since 31-10-2023
Annual accounts 2025
- €23,567▼ 29.2%
- €13,247▼ 37.5%
- €84,865▲ 18.5%
- €141,718▲ 79.0%
- Filing
- Filed on 13-08-2026
Insights on MERLIEN
MERLIEN files the micro format. That format states no turnover. The gross margin fell from €72,300 in 2023 to €23,567 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Financials
Annual accounts 2025
micro format, filed on 13-08-2026, 13 days late€23,567
▼ 29.2%
€21,064
▼ 34.0%
€13,247
▼ 37.5%
€82,104
▲ 14.6%
59.9%
▼ 30.6 percentage points
2.44
▼ 8.04
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €280,000. Estimated: probably between €150,000 and €510,000.
Balance sheet
balance sheet total €141,718 on 31-12-2025What the company ownsHow it is paid for
in euro
in euro
Position in the sector
59.9%
Higher than 68% of 9,462 companies in 2025.
2.44
Higher than 67% of 9,210 companies in 2025.
9.3%
Higher than 56% of 9,282 companies in 2025.
MERLIEN
Middle half of the sector
80% of the sector
Micro accounts in construction of buildings (NACE 41)
Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: top quarter
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Balance sheet: assets | ||||
20/58 |
141,718 | 79,172 | 62,184 | |
21/28 |
2,761 | - | - | |
22/27 |
2,761 | - | - | |
24 |
2,761 | - | - | |
29/58 |
138,957 | 79,172 | 62,184 | |
3 |
22,156 | - | - | |
30/36 |
22,156 | - | - | |
40/41 |
33,959 | 13,186 | 3,891 | |
40 |
33,802 | 2,696 | - | |
41 |
157 | 10,490 | 3,891 | |
54/58 |
82,842 | 65,987 | 58,293 | |
| Balance sheet: equity and liabilities | ||||
10/49 |
141,718 | 79,172 | 62,184 | |
10/15 |
84,865 | 71,618 | 50,435 | |
10/11 |
3,000 | 3,000 | 3,000 | |
13 |
81,865 | 68,618 | 47,435 | |
133 |
81,865 | 68,618 | 47,435 | |
17/49 |
56,853 | 7,554 | 11,750 | |
42/48 |
56,853 | 7,554 | 11,750 | |
44 |
28,755 | 3,607 | 2,546 | |
440/4 |
28,755 | 3,607 | 2,546 | |
45 |
6,776 | 3,946 | 8,803 | |
450/3 |
6,776 | 3,946 | 8,803 | |
47/48 |
21,322 | - | 401 | |
| Income statement | ||||
9900 |
23,567 | 33,272 | 72,300 | |
630 |
1,708 | - | - | |
640/8 |
795 | 1,365 | 829 | |
9901 |
21,064 | 31,908 | 71,470 | |
75/76B |
- | 234 | 0 | |
75 |
- | 234 | 0 | |
65/66B |
2,667 | 3,013 | 6,248 | |
65 |
2,667 | 3,013 | 6,248 | |
9903 |
18,397 | 29,128 | 65,222 | |
67/77 |
5,150 | 7,944 | 17,788 | |
9904 |
13,247 | 21,184 | 47,435 | |
9905 |
13,247 | 21,184 | 47,435 | |
| Appropriation of the result | ||||
9906 |
13,247 | 21,184 | 47,435 | |
691/2 |
13,247 | 21,184 | 47,435 | |
6921 |
13,247 | 21,184 | 47,435 | |
| Document | ||||
The notes to these accounts have 5 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 13-08-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank2025 annual accounts filed 13 days after the deadline. Filed on 13 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00400328.
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| 22,772 | - | - | ||
| 14,955 | - | - | ||
| 4,469 | - | - | ||
| 16,855 | 7,694 | - | ||
| 82,104 | 71,618 | 50,435 | ||
| 59.9% | 90.5% | 81.1% | ||
| 2.44 | 10.48 | 5.29 | ||
| 2.05 | 10.48 | 5.29 | ||
| 0.67 | 0.11 | 0.23 | ||
| 15.6% | 29.6% | 94.1% | ||
| 9.3% | 26.8% | 76.3% | ||
| 8.54 | - | - |
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.
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 |
|---|---|---|---|
| Tangible fixed assets | €4,469 | - | - |
| €1,708 | - | - |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
Insights on MERLIEN
The operating result for 2025 is 34% lower than in 2024 and the lowest since 2023. It is the second fall in a row.
Debt's share of the balance-sheet total rises from 9.5% to 40.1%. Equity and debt are higher.
Board & ownership
Board
1 director, since incorporationDirector (not named in the articles)
appointed by deed of 17-01-2022
term without a fixed end
listed in the 2025 annual accounts, filed on 13-08-2026
- Signing authorityThe articles say who may bind the company, for example by signing a contract.
- Each director alonedeed of 17-01-2022
Mandates through the years
1 name, the dashed line is todayHAUWELAERT Rudy,Arie,Augustin
Director (not named in the articles)
Director (not named in the articles)
Board
Mandates as a list
- HAUWELAERT Rudy,Arie,Augustin
- Director (not named in the articles), appointed by deed of 17-01-2022, still in office
Control
Founders
Hauwelaert Rudy, HAUWELAERT Rudy,Arie,Augustin
This company
MERLIEN
Equity €84,865
Profit €13,247 in 2025
Capital
- Contribution
- €3,000
- Shares
- 100
- Contribution per share
- €30
- Equity per share
- €849 in 2025
- Source
- deed of 17-01-2022
Articles of association
deed of 17-01-2022 (in Dutch)- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimited
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Second Friday of June at 18:00
Shareholders
At incorporation
deed of 17-01-2022 ↗
- Hauwelaert Rudy 100 shares (100%) · €3,000
- HAUWELAERT Rudy,Arie,Augustin founder
Capital transactions
Capital over time
- 17-01-2022 Incorporation · €3,000 · 100 shares
- 17-01-2022 Incorporation · €3,000
Network & group
No group
MERLIEN has no parent and no holdings in its annual accounts. HAUWELAERT Rudy,Arie,Augustin is the only director. MERLIEN shares no director with another company.
Timeline
Timeline
7 events since 2022Filings
Financial
Establishments
20222023202420252026
Deadline for the 2026 accounts: 31-07-2027
2026
Annual accounts 2025 filed NBBmicro format · 13 days late
2025
Weakest financial year net €13,247 ▼37.5% The net result drops to €13,247, the lowest from 2023 to 2025.
Annual accounts 2024 filed PDFmicro format · 34 days before the deadline
2024
Annual accounts 2023 filed PDFmicro format · 41 days before the deadline
2023
Registered in the Peppol Directory Reachable for e-invoices through 0208:0780403602
2022
IncorporationFounding capital of €3,000, 100 shares · Founder: HAUWELAERT Rudy, Arie, Augustin (comparant) · Appointment: HAUWELAERT Rudy, Arie, Augustin (director) · published on 17-01-20225 points ▸
- Founding capital, €3,000, 100 shares
- Board rule, 1
- Director appointment, HAUWELAERT Rudy, Arie, Augustin (director (not named in the articles))
- Founder, HAUWELAERT Rudy, Arie, Augustin (comparant)
- Founding capital, €3,000
- The deed holds 4 more points.
First establishment Sint-Godardusstraat 4, Asse
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
History
On 13 January 2022, MERLIEN was incorporated as a private limited company by two natural persons, with a starting capital of €3,000.12 HAUWELAERT Rudy,Arie,Augustin is director of the company, appointed by deed of 17-01-2022.2 Total assets went from €62,184 in 2023 to €141,718 in 2025.3
Company details
Identity
- Enterprise number
- 0780.403.602
- VAT number
- BE 0780.403.602
- Peppol ID
- 0208:0780403602
- Other Peppol ID
- 9925:BE0780403602
- Legal form
- Private limited company
- Status
- Active, normal situation
- Founded
- 13-01-2022
- Financial year
- ends on 31 December
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Second Friday of June at 18:00deed of 17-01-2022 (in Dutch)
- Peppol
- Reachable since 31-10-2023Follow this company and you will hear the next morning if it leaves the Peppol register.
- Name
- MERLIEN in Dutch
- Entity type
- Legal entity
- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimiteddeed of 17-01-2022 (in Dutch)
- Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
- “Sint-Godardusstraat 4, 1730 Asse”“Vlaams Gewest”deed of 17-01-2022 (in Dutch)
Activities
NACEBEL 202541001
General construction of residential buildings main activity
46836
Wholesale trade
Codes under NACEBEL 2008
41201
General construction of buildings main activity
41101
Real estate development
43211
Specialised construction activities
43994
Specialised construction activities
43999
Specialised construction activities
46736
Wholesale trade
- PurposeThe purpose describes the activities the company may carry out under its articles.
- “Het uitbaten van een schrijnwerkerij in de breedste zin van de betekenis,met inbegrip van zowel binnen-als buitenschrijnwerkerij zowel in…”deed of 17-01-2022 (in Dutch)
30 activities
- Het uitbaten van een schrijnwerkerij in de breedste zin van de betekenis,met inbegrip van zowel binnen-als buitenschrijnwerkerij zowel in hout als kunststof,metaal en andere materialen,
- Algemene bouwonderneming in de ruimste zin.
- Restauratie en gebruiksklaar maken voor verkoop van onroerende panden
- Kopen en verkopen in eigen beheer van onroerende goederen
- Installatie van garagepoorten,luiken,zonneblinden,traliewerk,hekken,veranda’s,serres,ramen,deuren,trappen,kasten,enzovoort ongeacht het materiaal,
- Fabricatie van allerlei timmer-,en schrijnwerk ongeacht het materiaal zoals bijvoorbeeld keuken,ramen,deuren,poorten,kasten,etc...
- Fabricatie,ontwerpen,herstellen,productie van meubels in allerlei materiaal en dit in de ruimste zin,
- Kleinhandel,groothandel,invoer,uitvoer van meubels,decoratiemateriaal,huishoudelijk materiaal,textiel enzovoort
- Montage,installatie,herstelling en onderhoud van alle soorten elektriciteitsinstallaties evenals de daarvoor bestemde toestellen met inbegrip van liften,roltrappen;bewakings-en alarmsystemen,
- Aanneming van elektrische installaties zowel huishoudelijk als industrieel,automatisatie en ontwikkeling van elektrische en elektronische toepassingen,
- Herstelling,montage,ontwikkeling,programmering,systeemanalyse met elektra-installaties,domotica en allerhande sturing met inbegrip van mechanische,
- Installatie van verwarming-,klimaatregeling,ventilatiesystemen,zonnepanelen en gelijkaardige systemen ten behoeve van klimaat-en warmteregeling ongeacht de energiebron inclusief herstelling en onderhoud en montage,
- Loodgieterswerk zoals installatie,onderhoud en herstelling van waterleidingen,installaties en apparaten voor sanitair gebruik inclusief sprinklerinstallaties,
- Plaatsen van installaties,apparatuur,leidingen,pijpleidingen voor zowel water,gas en diverse gassen(bijvoorbeeld zuurstof),elektriciteit,communicatie-en computersystemen met inbegrip van aansluiting,
- Schoorsteenvegen en schoonmaken van vuurplaatsen,kachels,ovens,ketels van centrale verwarming,ventilatiekanalen en uitlaatsystemen,
- Het aanbrengen in gebouwen en andere bouwwerken van thermisch en akoestisch isolatiemateriaal,
- Onderneming voor het uitvoeren van voegwerken,metselwerken,renovatiewerken van gebouwen en monumenten evenals het waterdicht maken van gebouwen met inbegrip van dakbedekking,
- Plafoneer-en cementeer-,en andere pleisterwerken,
- Plaatsen van chapes,leggen van parketvloer en het plaatsen van alle wand-,vloer-en plafondbekleding ongeacht het materiaal.Plaatsen van tussenwanden of gipsplaten,plafonds,spiegels in allerlei materiaal met in begrip van glas.
- Onderneming voor het uitvoeren van dakwerken in de ruimste betekenis van het woord zowel voor industriële,particuliere en alle andere gebouwen
- Slopingswerken van gebouwen en kunstwerken,
- Opkuis,ruiming van werven,onderhoud en reiniging van gebouwen zowel industrieel als particulier,
- Gevelreiniging in de ruimste betekenis inclusief zandstralen,…
- Schilderwerken en overige werkzaamheden in verband met afwerking van gebouwen,
- Aanleg van parkings,wegen,opritten,speel-en sportterreinen,zwembaden enzovoort,
- Groothandel-en kleinhandel in sanitaire toestellen en toebehoren inclusief alle toebehoren voor verwarming,klimaatregeling en ventilatie,
- Groothandel-en kleinhandel in elektrische toestellen,
- Groothandel-en kleinhandel in allerlei bouwmaterialen.
- Aankoop,verkoop van onroerende goederen,al dan niet gerenoveerd,
- Projectontwikkeling,
Registered office and establishments
1 establishment| Establishment | Since | Unit number |
|---|---|---|
| Sint-Godardusstraat 4 registered office 1730 Asse | 13-01-2022 | 2.328.295.750 |
Buildings and parcels at the address
- Ground area
- 942 m²
- Buildings
- 227 m²
- Volume, LiDAR
- 995 m³
- Tallest building
- 8.9 m
Buildings to scale, each on its own parcel
Parcels
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 23006A0243/00R000 | 942 m² | 1 · 227 m² | 8.9 m · 2 |
Invoicing and payment
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0780.403.602