MEULEMAN
ActiveSummary
MEULEMAN has been active since 1971 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €849k and a net result of €-44k. Equity is shrinking by ~5.2% per year across the filed fiscal years. Its solvency ranks better than 80% of 3550 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability29▼-5
Solvency92▼-1
Growth38=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
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Signals
Six 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% 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
67.1%
Return on assets
-3.5%
Age of the figures
21 mo
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
192021222324
2019 to 2024 · latest year €-44k
neutral · Latest accounts filed on time
The financial year that closed on 30-12-2024 was due by 30-07-2025 and was filed on 02-07-2025, 28 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
28 d early
2023
41 d early
2022
45 d early
2021
60 d early
2020
4 d early
2019
70 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Hiring this company for building work? Recognition, activities and what to check first.Contractor check Accepting this client? The AML file with identity, beneficial owners and sanctions lists.AML client file How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Financials · fiscal year 2024, full schema
Turnover
€845▼ 99.9%
2023 · €575k
EBIT margin
-6653.8%▼ 6649.4pp
2023 · -4.5%
Net result
€-44k▼ 154%
2023 · €-17k
Working capital
€919k▼ 4.5%
2023 · €963k
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
Line20202021202220232024
Turnover€2.09M▼ 71.5%€806k▼ 61.5%€489k▼ 39.4%€575k▲ 17.6%€845▼ 99.9%
Operating result€-20k▲ 93.8%€-127k▼ 542%€-66k▲ 48.0%€-26k▲ 61.0%€-56k▼ 119%
Net result€-15k▲ 69.4%€-122k▼ 696%€-60k▲ 50.5%€-17k▲ 71.4%€-44k▼ 154%
EBIT margin-0.9%▲ 3.4pp-15.7%▼ 14.8pp-13.5%▲ 2.2pp-4.5%▲ 9.0pp-6653.8%▼ 6649.4pp
Equity€1.09M▼ 1.4%€970k▼ 11.1%€910k▼ 6.2%€893k▼ 1.9%€849k▼ 4.9%
Total assets€1.73M▼ 38.7%€1.57M▼ 9.2%€1.66M▲ 6.3%€1.31M▼ 21.2%€1.27M▼ 3.5%
Debt€634k▼ 62.9%€596k▼ 5.9%€755k▲ 26.6%€419k▼ 44.5%€417k▼ 0.5%
Working capital€1.16M▼ 5.5%€1.04M▼ 10.5%€980k▼ 5.8%€963k▼ 1.8%€919k▼ 4.5%
Staff (FTE)
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €56k in 2024 against €26k in 2023; the loss grows.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.27M
Fixed assets
€218k =
Current assets
€1.05M ▼ 4.2%
Equity and liabilities €1.27M
Equity
€849k ▼ 4.9%
Debt
€417k ▼ 0.5%
Debt's share of the balance-sheet total rises from 31.9% to 32.9%. Equity and debt are lower.
Key figures and ratios
Current ratio
8.12▼
2023 · 8.34
Quick ratio
7.84▼
2023 · 7.97
Debt to equity
0.49▲
2023 · 0.47
ROE
-5.2%▼
2023 · -1.9%
ROA
-3.5%▼
2023 · -1.3%
Debt ≤ 1 year
€129k▼
2023 · €131k
Debt > 1 year
€53k=
2023 · €53k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | €799k | €514k | €593k | €16k | ▼ 97.3% |
| Turnover70 | €2.09M | €806k | €489k | €575k | €845 | ▼ 99.9% |
| Change in stocks of work in progress, finished goods and contracts in progress71 | - | €-25k | €23k | €17k | €-13k | ▼ 172% |
| Other operating income74 | - | €18k | €2k | €1k | €28k | ▲ 1,808% |
| Non-recurring operating income76A | - | €0 | - | - | - | - |
| Operating charges60/66A | - | €925k | €580k | €619k | €72k | ▼ 88.3% |
| Goods for resale, raw materials and consumables60 | - | €814k | €487k | €552k | €34k | ▼ 93.8% |
| Purchases600/8 | - | €814k | €487k | €552k | €34k | ▼ 93.8% |
| Services and other goods61 | - | €103k | €87k | €66k | €37k | ▼ 43.9% |
| Remuneration, social security and pensions62 | - | €0 | - | - | - | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €-55k | €-40k | €0 | €-184k | - |
| Other operating charges640/8 | - | €56k | €41k | €1k | €185k | ▲ 15,479% |
| Non-recurring operating charges66A | - | €7k | €4k | €0 | - | - |
| Operating profit (loss)9901 | €-20k | €-127k | €-66k | €-26k | €-56k | ▼ 119% |
| Financial income75/76B | - | €14k | €12k | €12k | €18k | ▲ 49.9% |
| Recurring financial income75 | €19k | €14k | €12k | €12k | €18k | ▲ 49.9% |
| Income from financial fixed assets750 | - | €1k | €1k | €1k | €2k | ▲ 100% |
| Income from current assets751 | - | €7k | €7k | €7k | €10k | ▲ 39.9% |
| Other financial income752/9 | - | €5k | €4k | €4k | €6k | ▲ 52.9% |
| Financial charges65/66B | - | €9k | €6k | €4k | €6k | ▲ 54.2% |
| Recurring financial charges65 | €14k | €9k | €6k | €4k | €6k | ▲ 54.2% |
| Debt charges650 | €1k | €1k | €1k | €1k | €1k | = |
| Other financial charges652/9 | - | €7k | €5k | €3k | €5k | ▲ 76.6% |
| Profit (loss) for the period before taxes9903 | €-15k | €-122k | €-60k | €-17k | €-44k | ▼ 154% |
| Income taxes67/77 | €337 | €61 | €584 | €0 | - | - |
| Taxes670/3 | - | €61 | €584 | €0 | - | - |
| Profit (loss) for the period9904 | €-15k | €-122k | €-60k | €-17k | €-44k | ▼ 154% |
| Transfer from tax-exempt reserves789 | - | - | €4k | €0 | - | - |
| Profit (loss) for the period to be appropriated9905 | €-15k | €-122k | €-56k | €-17k | €-44k | ▼ 154% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.73M | €1.57M | €1.66M | €1.31M | €1.27M | ▼ 3.5% |
| Fixed assets21/28 | €218k | €218k | €218k | €218k | €218k | = |
| Financial fixed assets28 | €218k | €218k | €218k | €218k | €218k | = |
| Other financial fixed assets284/8 | - | €218k | €218k | €218k | €218k | = |
| Amounts receivable and cash guarantees285/8 | - | €218k | €218k | €218k | €218k | = |
| Current assets29/58 | €1.51M | €1.35M | €1.45M | €1.09M | €1.05M | ▼ 4.2% |
| Amounts receivable after more than one year29 | - | €350k | €350k | €350k | €350k | = |
| Other amounts receivable291 | - | €350k | €350k | €350k | €350k | = |
| Stocks and contracts in progress3 | €34k | €9k | €32k | €49k | €37k | ▼ 25.6% |
| Contracts in progress37 | - | €9k | €32k | €49k | €37k | ▼ 25.6% |
| Amounts receivable within one year40/41 | €721k | €668k | €969k | €577k | €499k | ▼ 13.5% |
| Trade receivables40 | - | €197k | €377k | €47k | €47k | = |
| Other amounts receivable41 | - | €471k | €591k | €530k | €452k | ▼ 14.7% |
| Current investments50/53 | €32k | €32k | €32k | €32k | €32k | = |
| Other investments51/53 | - | €32k | €32k | €32k | €32k | = |
| Cash at bank and in hand54/58 | €371k | €290k | €65k | €86k | €130k | ▲ 51.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.73M | €1.57M | €1.66M | €1.31M | €1.27M | ▼ 3.5% |
| Equity10/15 | €1.09M | €970k | €910k | €893k | €849k | ▼ 4.9% |
| Contributions10/11 | €600k | €600k | €600k | €600k | €600k | = |
| Capital10 | - | €600k | €600k | €600k | €600k | = |
| Issued capital100 | - | €600k | €600k | €600k | €600k | = |
| Reserves13 | €63k | €63k | €59k | €59k | €59k | = |
| Non-distributable reserves130/1 | - | €39k | €39k | €39k | €39k | = |
| Legal reserve130 | - | €39k | €39k | €39k | €39k | = |
| Tax-exempt reserves132 | - | €9k | €5k | €5k | €5k | = |
| Distributable reserves133 | - | €16k | €16k | €16k | €16k | = |
| Profit (loss) carried forward14 | €429k | €307k | €251k | €234k | €190k | ▼ 18.7% |
| Amounts payable17/49 | €634k | €596k | €755k | €419k | €417k | ▼ 0.5% |
| Amounts payable after more than one year17 | €53k | €53k | €53k | €53k | €53k | = |
| Financial debts170/4 | - | €53k | €53k | €53k | €53k | = |
| Other loans174 | - | €53k | €53k | €53k | €53k | = |
| Amounts payable within one year42/48 | €346k | €309k | €467k | €131k | €129k | ▼ 1.6% |
| Current portion of amounts payable after more than one year42 | - | €23k | €23k | €23k | €23k | = |
| Trade debts44 | €147k | €138k | €189k | €52k | €64k | ▲ 23.9% |
| Suppliers440/4 | - | €138k | €189k | €52k | €64k | ▲ 23.9% |
| Advances received on contracts in progress46 | - | €55k | €144k | €10k | €21k | ▲ 121% |
| Taxes, remuneration and social security45 | - | €0 | €225 | €0 | €17k | - |
| Taxes450/3 | - | €0 | €225 | €0 | €17k | - |
| Other amounts payable47/48 | - | €93k | €112k | €47k | €3k | ▼ 93.0% |
| Accrued charges and deferred income492/3 | - | €235k | €235k | €235k | €235k | = |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-15k | €-122k | €-60k | €-17k | €-44k | ▼ 154% |
| Operating cash flow (approximation) | €-15k | €-122k | €-60k | €-17k | €-44k | ▼ 154% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €-81k | €-225k | €21k | €45k | ▲ 111% |
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
02-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
19-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
30-12
Financial
Liquidity triplescurrent ratio 8.34
Current ratio from 3.10 to 8.34; short-term debt falls from €467k to €131k.
15-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-05
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
30-12
Financial
Weakest financial yearnet €-122k
Net result drops to €-122k, the lowest in the series; recovery starts the following year.
26-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
30-12
Financial
Liquidity doublescurrent ratio 4.36
Current ratio from 1.90 to 4.36; short-term debt falls from €1.37M to €346k.
08-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 70 days late
2019
08-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
08-05
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
17-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
01-07
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 21 acts read
About the unread acts
We know of 21 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
21 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, Kortrijk · 1 establishment unit since 1971
Ground area
9,176 m²
Building footprint
3,626 m²
Volume, LiDAR
28,519 m³
Parcel 34353B0663/00T000, Flanders · tallest building 10.3 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
MEULEMAN
since 19712.038.023.052
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34353B0663/00T000 | Flanders | 9,176 m² | 1 · 3,626 m² | 10.3 m · 3 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.
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Of 913 companies in sector 43333 we hold annual accounts for 400. 207 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded01-07-1971
Fiscal year end30-12
Activities, NACEBEL 2025
43333Wallpapering and laying of floor and wall coverings in other materials
43341Painting of buildings
Scores and ratios are computed by Checked and are not a credit decision.