MERLILO
ActiveSummary
MERLILO has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €129,053 and a net result of €8,637. Equity is shrinking by ~11.6% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability76▲+4
Solvency100=
Growth32=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €11,000 at 30 days acceptable
Liquidity ample (current ratio 4.15 against 2.67 in 2024; short-term debt: 9.6% and cash: 38.9% of total assets), and 10.1% 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
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
89.9%
Return on assets
6%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 02-07-2026, 29 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
29 d early
2024
51 d early
2023
53 d early
2022
56 d early
2021
44 d early
2020
36 d early
2019
56 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 46 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (2)
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. Usually files around 10 June (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€129,053▼ 3.3%
2024 · €133,468
Total assets
€143,623▼ 10.4%
2024 · €160,270
Net result
€8,637▲ 117%
2024 · €3,979
Working capital
€43,408▼ 0.3%
2024 · €43,545
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€828€7,627-€10,620€3,872€10,127▲ 162%
Net result-€299€5,381-€10,707€3,979€8,637▲ 117%
Equity€202,365▼ 9.6%€187,237▼ 7.5%€155,171▼ 17.1%€133,468▼ 14.0%€129,053▼ 3.3%
Total assets€231,359▼ 22.3%€208,546▼ 9.9%€177,369▼ 14.9%€160,270▼ 9.6%€143,623▼ 10.4%
Debt€28,994▼ 60.7%€21,309▼ 26.5%€22,198▲ 4.2%€26,802▲ 20.7%€14,569▼ 45.6%
Working capital€123,850▼ 15.4%€110,990▼ 10.4%€70,613▼ 36.4%€43,545▼ 38.3%€43,408▼ 0.3%
Turnover and EBIT margin not published: the abbreviated or 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 162% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €143,623
Fixed assets
€86,445 ▼ 4.7%
Current assets
€57,178 ▼ 17.8%
Equity and liabilities €143,623
Equity
€129,053 ▼ 3.3%
Debt
€14,569 ▼ 45.6%
Debt's share of the balance-sheet total falls from 16.7% to 10.1%. Equity and debt are lower.
Key figures and ratios
EBITDA
€14,405▲
2024 · €7,465
Cash flow
€12,915▲
2024 · €7,571
Current ratio
4.15▲
2024 · 2.67
Debt to equity
0.11▼
2024 · 0.20
ROE
6.7%▲
2024 · 3.0%
ROA
6.0%▲
2024 · 2.5%
Interest coverage
132.16▲
2024 · 75.40
Debt ≤ 1 year
€13,769▼
2024 · €26,002
Income taxes
€1,927▲
2024 · €398
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,370 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.5%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.5% 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 497,338 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% | 1.9% |
| 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 31,370 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,008 | €2,269 | €2,823 | €3,593 | €4,278 | ▲ 19.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | -€16,158 | - | - | - | - | - |
| Other operating charges640/8 | €18,836 | €2,743 | €3,006 | €3,128 | €3,226 | ▲ 3.1% |
| Gross operating margin9900 | €3,858 | €12,638 | -€4,791 | €10,593 | €17,631 | ▲ 66.4% |
| Operating profit (loss)9901 | -€828 | €7,627 | -€10,620 | €3,872 | €10,127 | ▲ 162% |
| Financial income75/76B | €615 | €14 | €12 | €604 | €546 | ▼ 9.6% |
| Recurring financial income75 | €615 | €14 | €12 | €604 | €546 | ▼ 9.6% |
| Financial charges65/66B | €85 | €93 | €99 | €99 | €109 | ▲ 10.1% |
| Recurring financial charges65 | €85 | €93 | €99 | €99 | €109 | ▲ 10.1% |
| Profit (loss) for the period before taxes9903 | -€299 | €7,548 | -€10,707 | €4,377 | €10,564 | ▲ 141% |
| Income taxes67/77 | - | €2,167 | - | €398 | €1,927 | ▲ 384% |
| Profit (loss) for the period9904 | -€299 | €5,381 | -€10,707 | €3,979 | €8,637 | ▲ 117% |
| Profit (loss) for the period to be appropriated9905 | -€299 | €5,381 | -€10,707 | €3,979 | €8,637 | ▲ 117% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €231,359 | €208,546 | €177,369 | €160,270 | €143,623 | ▼ 10.4% |
| Fixed assets21/28 | €79,315 | €77,046 | €85,358 | €90,723 | €86,445 | ▼ 4.7% |
| Tangible fixed assets22/27 | €79,315 | €77,046 | €85,358 | €90,723 | €86,445 | ▼ 4.7% |
| Land and buildings22 | €76,215 | €74,262 | €72,309 | €70,356 | €68,403 | ▼ 2.8% |
| Plant, machinery and equipment23 | €3,100 | €2,784 | €13,049 | €20,367 | €18,042 | ▼ 11.4% |
| Current assets29/58 | €152,044 | €131,500 | €92,011 | €69,547 | €57,178 | ▼ 17.8% |
| Amounts receivable within one year40/41 | €5,000 | €775 | - | €1,283 | €737 | ▼ 42.6% |
| Other amounts receivable41 | €5,000 | €775 | - | €1,283 | €737 | ▼ 42.6% |
| Cash at bank and in hand54/58 | €146,645 | €130,292 | €91,442 | €67,764 | €55,928 | ▼ 17.5% |
| Deferred charges and accrued income490/1 | €400 | €433 | €568 | €500 | €513 | ▲ 2.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €231,359 | €208,546 | €177,369 | €160,270 | €143,623 | ▼ 10.4% |
| Equity10/15 | €202,365 | €187,237 | €155,171 | €133,468 | €129,053 | ▼ 3.3% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €140,664 | €125,237 | €103,879 | €71,468 | €67,053 | ▼ 6.2% |
| Non-distributable reserves130/1 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Legal reserve130 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Tax-exempt reserves132 | €970 | €970 | €970 | €970 | €970 | = |
| Distributable reserves133 | €133,494 | €118,067 | €96,709 | €64,298 | €59,884 | ▼ 6.9% |
| Profit (loss) carried forward14 | -€299 | - | -€10,707 | - | - | - |
| Amounts payable17/49 | €28,994 | €21,309 | €22,198 | €26,802 | €14,569 | ▼ 45.6% |
| Amounts payable within one year42/48 | €28,194 | €20,509 | €21,398 | €26,002 | €13,769 | ▼ 47.0% |
| Trade debts44 | €62 | - | €10 | - | - | - |
| Suppliers440/4 | €62 | - | €10 | - | - | - |
| Taxes, remuneration and social security45 | €7,538 | €1,025 | €1,068 | €1,284 | €653 | ▼ 49.2% |
| Taxes450/3 | €7,538 | €1,025 | €1,068 | €1,284 | €653 | ▼ 49.2% |
| Other amounts payable47/48 | €20,595 | €19,484 | €20,320 | €24,718 | €13,117 | ▼ 46.9% |
| Accrued charges and deferred income492/3 | €800 | €800 | €800 | €800 | €800 | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€299 | €5,381 | -€10,707 | €3,979 | €8,637 | ▲ 117% |
| + Depreciation and write-downs630 | €2,008 | €2,269 | €2,823 | €3,593 | €4,278 | ▲ 19.1% |
| Operating cash flow (approximation) | €1,709 | €7,650 | -€7,884 | €7,571 | €12,915 | ▲ 70.6% |
| Investment in fixed assets (approximation) | - | €0 | -€11,136 | -€8,957 | €0 | ▲ 100% |
| Change in cash | - | -€16,353 | -€38,849 | -€23,678 | -€11,837 | ▲ 50.0% |
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
Next filing, fiscal year 2026, expected by
2026
07-09
State Gazette act
Reappointments: Hendrickx Marleentje (director) and Baeken Bart (director)7 facts ▸
State Gazette act
Reappointments: Hendrickx Marleentje (director) and Baeken Bart (director)
7 facts ▸
- General meeting, 10-01-2026
- Director reappointment, Hendrickx Marleentje (director)
- Director reappointment, Baeken Bart (director)
- Board meeting, aanwijzing gedelegeerd bestuurder
- Director reappointment, Hendrickx Marleentje (managing director)
- Board composition, Hendrickx Marleentje (director)
- Board composition, Baeken Bart (director)
02-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
10-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €3,979
Net result €3,979 after one loss-making year.
08-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet -€10,707
Net result drops to -€10,707, the lowest in the series; recovery starts the following year.
05-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €5,381
Net result €5,381 after one loss-making year.
17-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
25-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
05-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Highest result since 2018net €25,682 ▲20.2%
Operating result €38,364, net result €25,682, both a record.
Show earlier events
21-03
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
22-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
23-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 5 acts read
About the unread acts
Of the 5 Belgian State Gazette acts we know for this company, 1 has been read. The other 4 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 directors, 1 in day-to-day management, last change in 2026
Board 2
Baeken Bart
CurrentDirector · since 10-01-2026
Hendrickx Marleentje
CurrentDirector · since 10-01-2026
Day-to-day management 1
Hendrickx Marleentje
CurrentManaging director
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
4 of this company's 5 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Pelt · 1 establishment unit since 1989
Ground area
1,867 m²
Building footprint
352 m²
Volume, LiDAR
2,407 m³
2 parcels, Flanders · tallest building 10.2 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Merlilo
since 19892.045.806.016
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 72033B0785/00V000 | Flanders | 1,645 m² | 1 · 130 m² | 9.1 m · 2 fl. |
| 72020C0363/00Z000 | Flanders | 222 m² | 1 · 222 m² | 10.2 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
2 people since 2026, 2 in office
- Board
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| Baeken Bart |
|
| Hendrickx Marleentje |
|
Structure & network
Connections & network
2 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
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Shareholding
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Identification & contact
Identification
Legal formPublic limited company
Founded23-10-1989
Fiscal year end31-12
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
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Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.