Moerman
ActiveSummary
Moerman has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €215,694 and a net result of -€1,910. Equity is shrinking by ~14.8% per year across the filed fiscal years. Its solvency ranks better than 45% of 2059 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability46▲+3
Solvency64▲+4
Growth32=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €15,000 at 30 days acceptable
Liquidity ample (current ratio 2.51 against 2.04 in 2024; short-term debt: 30.8% and cash: 37.9% of total assets), but 61.1% of the assets are financed with debt.
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Signals
Four 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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 03-07-2026, 28 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
28 d early
2024
45 d early
2023
27 d early
2022
21 d late
2021
25 d early
2020
23 d early
2019
21 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 21 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 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
In the rankings
#10 oldest company in Gavere, Construction sector
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€1,910
2024 · €20
Working capital
€258,390▲ 9.0%
2024 · €237,068
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€12,185▲ 7.7%-€20,715€104,199€24,729▼ 76.3%€22,574▼ 8.7%
Net result-€2,006▼ 99.0%-€38,210▼ 1,805%€56,076€20▼ 100.0%-€1,910
Equity€199,718▼ 64.4%€161,508▼ 19.1%€217,584▲ 34.7%€217,604=€215,694▼ 0.9%
Total assets€521,215▼ 36.6%€434,219▼ 16.7%€610,406▲ 40.6%€628,206▲ 2.9%€554,752▼ 11.7%
Debt€237,860▲ 34.3%€188,701▼ 20.7%€308,485▲ 63.5%€325,985▲ 5.7%€254,212▼ 22.0%
Working capital€248,759▼ 58.5%€204,031▼ 18.0%€235,873▲ 15.6%€237,068▲ 0.5%€258,390▲ 9.0%
Staff (FTE)3.1▼ 34.0%3▼ 3.2%3=3=3=
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 9% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €554,752
Fixed assets
€125,764 ▼ 22.6%
Current assets
€428,988 ▼ 7.9%
Equity and liabilities €554,752
Equity
€215,694 ▼ 0.9%
Provisions
€84,846 ▲ 0.3%
Debt
€254,212 ▼ 22.0%
Debt's share of the balance-sheet total falls from 51.9% to 45.8%. Equity and debt are lower.
Key figures and ratios
EBITDA
€66,647▼
2024 · €67,323
Cash flow
€42,163▼
2024 · €42,614
Current ratio
2.51▲
2024 · 2.04
Quick ratio
2.25▲
2024 · 1.77
Debt to equity
1.18▼
2024 · 1.50
ROE
-0.9%▼
2024 · 0.0%
ROA
-0.3%▼
2024 · 0.0%
Interest coverage
3.30▲
2024 · 2.87
Debt ≤ 1 year
€170,598▼
2024 · €228,677
Debt > 1 year
€66,474▼
2024 · €96,931
Income taxes
€4,620▲
2024 · €1,542
Staff costs
€217,481▲
2024 · €216,349
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €3,000 | €0 | €43,587 | €413 | €0 | ▼ 100% |
| Remuneration, social security and pensions62 | €184,904 | €192,363 | €208,160 | €216,349 | €217,481 | ▲ 0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €39,122 | €36,831 | €13,499 | €42,593 | €44,073 | ▲ 3.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €10,000 | -€10,000 | €0 | ▲ 100% |
| Other operating charges640/8 | €2,157 | €2,784 | €2,319 | €2,136 | €1,941 | ▼ 9.1% |
| Non-recurring operating charges66A | - | - | €0 | €0 | - | - |
| Gross operating margin9900 | €238,368 | €211,263 | €338,177 | €275,808 | €286,069 | ▲ 3.7% |
| Operating profit (loss)9901 | €12,185 | -€20,715 | €104,199 | €24,729 | €22,574 | ▼ 8.7% |
| Financial income75/76B | €1,637 | €88 | €282 | €328 | €362 | ▲ 10.2% |
| Recurring financial income75 | €1,637 | €88 | €282 | €328 | €362 | ▲ 10.2% |
| Financial charges65/66B | €12,904 | €17,574 | €30,954 | €23,496 | €20,226 | ▼ 13.9% |
| Recurring financial charges65 | €12,904 | €15,591 | €16,300 | €23,496 | €20,226 | ▼ 13.9% |
| Non-recurring financial charges66B | - | €1,983 | €14,654 | €0 | - | - |
| Profit (loss) for the period before taxes9903 | €918 | -€38,201 | €73,528 | €1,562 | €2,710 | ▲ 73.5% |
| Income taxes67/77 | €2,924 | €9 | €17,452 | €1,542 | €4,620 | ▲ 200% |
| Profit (loss) for the period9904 | -€2,006 | -€38,210 | €56,076 | €20 | -€1,910 | ▼ 9,500% |
| Transfer from tax-exempt reserves789 | €8,750 | €0 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €6,744 | -€38,210 | €56,076 | €20 | -€1,910 | ▼ 9,500% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €521,215 | €434,219 | €610,406 | €628,206 | €554,752 | ▼ 11.7% |
| Fixed assets21/28 | €68,739 | €41,487 | €167,383 | €162,462 | €125,764 | ▼ 22.6% |
| Tangible fixed assets22/27 | €66,819 | €39,567 | €165,463 | €160,541 | €123,844 | ▼ 22.9% |
| Land and buildings22 | €23,901 | €19,715 | €15,690 | €11,672 | €7,655 | ▼ 34.4% |
| Plant, machinery and equipment23 | €6,282 | €4,683 | €2,600 | €6,019 | €8,044 | ▲ 33.6% |
| Furniture and vehicles24 | €36,636 | €15,168 | €147,174 | €142,850 | €108,145 | ▼ 24.3% |
| Financial fixed assets28 | €1,920 | €1,920 | €1,920 | €1,920 | €1,920 | = |
| Current assets29/58 | €452,476 | €392,732 | €443,023 | €465,745 | €428,988 | ▼ 7.9% |
| Stocks and contracts in progress3 | €96,431 | €106,224 | €36,475 | €60,106 | €44,914 | ▼ 25.3% |
| Contracts in progress37 | €96,431 | €106,224 | €36,475 | €60,106 | €44,914 | ▼ 25.3% |
| Amounts receivable within one year40/41 | €76,433 | €62,756 | €70,420 | €71,801 | €43,093 | ▼ 40.0% |
| Trade receivables40 | €67,736 | €53,765 | €46,482 | €56,157 | €21,908 | ▼ 61.0% |
| Other amounts receivable41 | €8,697 | €8,991 | €23,938 | €15,644 | €21,185 | ▲ 35.4% |
| Current investments50/53 | €125,000 | €125,000 | €125,000 | €125,000 | €125,000 | = |
| Cash at bank and in hand54/58 | €152,961 | €94,816 | €209,959 | €203,234 | €210,069 | ▲ 3.4% |
| Deferred charges and accrued income490/1 | €1,651 | €3,936 | €1,169 | €5,603 | €5,912 | ▲ 5.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €521,215 | €434,219 | €610,406 | €628,206 | €554,752 | ▼ 11.7% |
| Equity10/15 | €199,718 | €161,508 | €217,584 | €217,604 | €215,694 | ▼ 0.9% |
| 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 | €137,718 | €137,718 | €155,584 | €155,604 | €155,604 | = |
| Non-distributable reserves130/1 | €42,200 | €42,200 | €42,200 | €42,200 | €42,200 | = |
| Legal reserve130 | €42,200 | €42,200 | €42,200 | €42,200 | €42,200 | = |
| Tax-exempt reserves132 | €0 | - | - | - | - | - |
| Distributable reserves133 | €95,518 | €95,518 | €113,384 | €113,404 | €113,404 | = |
| Profit (loss) carried forward14 | €0 | -€38,210 | €0 | - | -€1,910 | - |
| Provisions and deferred taxes16 | €83,637 | €84,010 | €84,338 | €84,617 | €84,846 | ▲ 0.3% |
| Provisions for liabilities and charges160/5 | €83,637 | €84,010 | €84,338 | €84,617 | €84,846 | ▲ 0.3% |
| Pensions and similar obligations160 | €83,637 | €84,010 | €84,338 | €84,617 | €84,846 | ▲ 0.3% |
| Amounts payable17/49 | €237,860 | €188,701 | €308,485 | €325,985 | €254,212 | ▼ 22.0% |
| Amounts payable after more than one year17 | €19,253 | €0 | €100,534 | €96,931 | €66,474 | ▼ 31.4% |
| Financial debts170/4 | €19,253 | €0 | €100,534 | €96,931 | €66,474 | ▼ 31.4% |
| Amounts payable within one year42/48 | €203,717 | €188,701 | €207,151 | €228,677 | €170,598 | ▼ 25.4% |
| Current portion of amounts payable after more than one year42 | €29,105 | €19,253 | €22,539 | €29,284 | €30,541 | ▲ 4.3% |
| Trade debts44 | €45,480 | €41,116 | €59,882 | €89,009 | €50,226 | ▼ 43.6% |
| Suppliers440/4 | €45,480 | €41,116 | €59,882 | €89,009 | €50,226 | ▼ 43.6% |
| Taxes, remuneration and social security45 | €22,655 | €30,999 | €31,607 | €31,023 | €15,088 | ▼ 51.4% |
| Taxes450/3 | €12,489 | €11,906 | €20,625 | €19,950 | €3,653 | ▼ 81.7% |
| Remuneration and social security454/9 | €10,166 | €19,093 | €10,982 | €11,074 | €11,435 | ▲ 3.3% |
| Other amounts payable47/48 | €106,478 | €97,333 | €93,122 | €79,361 | €74,742 | ▼ 5.8% |
| Accrued charges and deferred income492/3 | €14,890 | €0 | €800 | €377 | €17,141 | ▲ 4,443% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€2,006 | -€38,210 | €56,076 | €20 | -€1,910 | ▼ 9,500% |
| + Depreciation and write-downs630 | €39,122 | €36,831 | €13,499 | €42,593 | €44,073 | ▲ 3.5% |
| Operating cash flow (approximation) | €37,116 | -€1,379 | €69,575 | €42,614 | €42,163 | ▼ 1.1% |
| Investment in fixed assets (approximation) | - | -€9,579 | -€139,395 | -€37,672 | -€7,376 | ▲ 80.4% |
| Change in cash | - | -€58,145 | €115,143 | -€6,725 | €6,835 | ▲ 202% |
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
03-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
16-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Back to profitnet €56,076
Net result €56,076 after 4 loss-making years.
31-12
Financial
Equity above €200,000Eq €217,584 ▲34.7%
Equity rises from €161,508 to €217,584.
21-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 21 days late
2022
31-12
Financial
Weakest financial yearnet -€38,210
Net result drops to -€38,210, the lowest in the series; recovery starts the following year.
06-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
08-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
10-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
12-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 12 days late
2018
17-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 17 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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, Gavere · 1 establishment unit since 1992
Ground area
675 m²
Building footprint
180 m²
Volume, LiDAR
1,120 m³
Parcel 44003A0358/00W002, Flanders · tallest building 9.5 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Populierenhof 82, 9890 Gavere
since 19922.057.666.938
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44003A0358/00W002 | Flanders | 675 m² | 1 · 180 m² | 9.5 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
Recognised contractor
1 categoryMoerman NV42582
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Of 3,959 companies in sector 43331 we hold annual accounts for 1,788. 1,397 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
Founded27-03-1992
Fiscal year end31-12
Activities, NACEBEL 2025
43331Floor and wall tiling
Scores and ratios are computed by Checked and are not a credit decision.