Moerman

Active Public limited companyfounded 1992active for 34 yearsPopulierenhof 82, 9890 GavereKBO/BCE: BE 0447.079.037 #9 oldest company in Gavere, Construction sector

Moerman

Financial year 2025

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Annual accounts 2025

full format, filed on 03-07-2026, 28 days before the deadline

€286,069

▲ 3.7%

€22,574

▼ 8.7%

-€1,910

▼ €1,930

€258,390

▲ 9.0%

38.9%

▲ 4.2 percentage points

2.51

▲ 0.48

The turnover shown is an estimate from the gross margin.

Turnover ≈ €830,000. Estimated: probably between €620,000 and €1.1m.

In the rankings #9 oldest company in Gavere, Construction sector

Balance sheet

balance sheet total €554,752 on 31-12-2025

What the company ownsHow it is paid for

in euro

Position in the sector

Compare with sector

38.9%

Higher than 45% of 2,463 companies in 2025.

2.51

Higher than 72% of 2,436 companies in 2025.

-0.3%

Higher than 21% of 2,454 companies in 2025.

Moerman Middle half of the sector 80% of the sector Full accounts in specialised construction (NACE 43)

Net result: bottom quarter · Equity: middle half · Balance sheet total: middle half · Working capital: middle half · Staff: bottom quarter

Staff

€72,494

Staff costs divided by the average number of full-time equivalents.

people who joined people who left

Filed annual accounts

as filed with the National Bank, click a year to choose it

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006
Balance sheet: assets
`20/58`	554,752	628,206	610,406	434,219	521,215	822,101	892,855	958,766	857,178	857,499	951,415	1.0m	1.1m	850,160	1.1m	1.0m	998,072	1.0m	620,673	539,911
`21/28`	125,764	162,462	167,383	41,487	68,739	94,125	123,262	142,481	31,261	65,538	106,562	74,845	97,588	34,167	63,724	86,973	107,837	135,963	46,511	34,596
`21`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	18,000	24,000	-	-
`22/27`	123,844	160,541	165,463	39,567	66,819	92,205	121,342	140,561	29,341	63,618	104,642	72,975	95,718	27,197	62,404	85,653	88,517	110,642	45,191	33,276
`22`	7,655	11,672	15,690	19,715	23,901	28,931	26,399	-	-	-	-	-	-	-	-	-	-	-	-	-
`23`	8,044	6,019	2,600	4,683	6,282	4,105	3,468	1,559	711	3,360	7,576	8,852	4,421	2,278	3,890	4,457	6,403	8,928	7,215	5,374
`24`	108,145	142,850	147,174	15,168	36,636	59,169	91,474	139,001	28,630	60,258	95,754	61,170	86,377	24,789	58,222	80,710	72,904	87,360	17,623	24,262
`26`	-	-	-	-	-	-	-	-	-	-	1,312	2,952	4,920	130	292	486	-	539	1,932	3,640
`28`	1,920	1,920	1,920	1,920	1,920	1,920	1,920	1,920	1,920	1,920	1,920	1,870	1,870	6,970	1,320	1,320	1,320	1,320	1,320	1,320
`29/58`	428,988	465,745	443,023	392,732	452,476	727,976	769,593	816,285	825,917	791,961	844,853	934,728	1.0m	815,993	1.1m	925,693	890,235	875,257	574,162	505,315
`29`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	20,000	20,000	-	-
`291`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	20,000	20,000	-	-
`3`	44,914	60,106	36,475	106,224	96,431	85,288	76,920	49,203	26,000	50,000	14,600	-	-	-	-	-	-	-	-	-
`37`	44,914	60,106	36,475	106,224	96,431	85,288	76,920	49,203	26,000	50,000	14,600	-	-	-	-	-	-	-	-	-
`40/41`	43,093	71,801	70,420	62,756	76,433	106,481	120,751	136,907	169,918	153,407	193,447	203,686	349,443	143,967	192,358	173,916	171,095	178,811	113,655	171,548
`40`	21,908	56,157	46,482	53,765	67,736	95,685	110,430	125,033	154,700	146,688	145,861	121,311	142,515	82,788	97,634	168,205	128,010	123,881	71,373	141,557
`41`	21,185	15,644	23,938	8,991	8,697	10,796	10,320	11,875	15,218	6,719	47,586	82,375	206,928	61,179	94,724	5,710	43,084	54,929	42,282	29,991
`50/53`	125,000	125,000	125,000	125,000	125,000	125,000	125,000	125,000	135,000	145,000	145,000	145,000	145,000	563,000	553,000	125,000	125,000	125,000	303,210	126,947
`54/58`	210,069	203,234	209,959	94,816	152,961	391,314	405,521	505,175	494,699	443,554	491,806	586,042	515,083	109,026	308,802	626,010	573,372	551,446	155,923	204,434
`490/1`	5,912	5,603	1,169	3,936	1,651	19,893	41,400	-	299	-	-	-	-	-	-	768	768	-	1,374	2,387
Balance sheet: equity and liabilities
`10/49`	554,752	628,206	610,406	434,219	521,215	822,101	892,855	958,766	857,178	857,499	951,415	1.0m	1.1m	850,160	1.1m	1.0m	998,072	1.0m	620,673	539,911
`10/15`	215,694	217,604	217,584	161,508	199,718	561,724	562,732	568,986	566,120	562,105	560,099	560,095	644,422	558,651	495,809	420,463	624,352	617,499	458,823	365,356
`10/11`	62,000	62,000	62,000	62,000	62,000	422,000	422,000	422,000	422,000	422,000	422,000	422,000	422,000	62,000	62,000	62,000	62,000	62,000	62,000	62,000
`10`	62,000	62,000	62,000	62,000	62,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
`100`	62,000	62,000	62,000	62,000	62,000	422,000	422,000	422,000	422,000	422,000	422,000	422,000	422,000	62,000	62,000	62,000	62,000	62,000	62,000	62,000
`13`	155,604	155,604	155,584	137,718	137,718	127,950	137,950	137,950	137,950	137,950	137,950	137,950	221,950	495,950	432,950	357,950	549,950	549,950	396,450	302,450
`130/1`	42,200	42,200	42,200	42,200	42,200	42,200	-	-	-	-	-	-	-	-	-	-	-	-	-	-
`130`	42,200	42,200	42,200	42,200	42,200	42,200	42,200	42,200	42,200	42,200	42,200	42,200	42,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200
`132`	-	-	-	-	0	8,750	18,750	18,750	18,750	18,750	18,750	18,750	18,750	18,750	18,750	18,750	93,750	93,750	18,750	56,250
`133`	113,404	113,404	113,384	95,518	95,518	77,000	77,000	77,000	77,000	77,000	77,000	77,000	161,000	471,000	408,000	333,000	450,000	450,000	371,500	240,000
`14`	-1,910	-	0	-38,210	0	11,774	2,782	9,036	6,170	2,155	149	145	472	701	859	513	12,402	5,549	373	906
`16`	84,846	84,617	84,338	84,010	83,637	83,222	82,768	82,277	81,752	81,196	80,611	-	-	-	-	-	-	-	-	-
`160/5`	84,846	84,617	84,338	84,010	83,637	83,222	82,768	82,277	81,752	81,196	80,611	-	-	-	-	-	-	-	-	-
`160`	84,846	84,617	84,338	84,010	83,637	83,222	82,768	82,277	81,752	81,196	-	-	-	-	-	-	-	-	-	-
`17/49`	254,212	325,985	308,485	188,701	237,860	177,155	247,355	307,502	209,306	214,198	310,705	449,478	462,692	291,508	622,075	592,204	373,720	393,720	161,850	174,555
`17`	66,474	96,931	100,534	0	19,253	48,358	77,033	113,806	24,575	48,808	83,956	52,305	82,626	34,613	64,941	79,416	64,201	92,800	41,028	50,705
`170/4`	66,474	96,931	100,534	0	19,253	48,358	77,033	113,806	24,575	48,808	83,956	52,305	82,626	34,613	64,941	79,416	64,201	92,800	41,028	50,705
`42/48`	170,598	228,677	207,151	188,701	203,717	128,797	170,322	193,696	184,731	165,390	226,749	397,057	380,066	256,896	557,116	512,788	309,519	300,920	120,822	123,850
`42`	30,541	29,284	22,539	19,253	29,105	28,675	36,773	43,887	24,311	35,147	38,729	30,321	86,169	30,329	121,424	38,195	28,599	32,340	25,475	20,842
`43`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,986	-	-	-	-	-
`439`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,986	-	-	-	-	-
`44`	50,226	89,009	59,882	41,116	45,480	43,210	62,335	64,988	42,201	25,032	61,697	68,946	75,202	49,195	48,793	63,181	71,501	54,625	6,740	31,087
`440/4`	50,226	89,009	59,882	41,116	45,480	43,210	62,335	64,988	42,201	25,032	61,697	68,946	75,202	49,195	48,793	63,181	71,501	54,625	6,740	31,087
`45`	15,088	31,023	31,607	30,999	22,655	15,690	21,388	22,762	26,432	19,578	23,073	17,116	57,681	16,724	48,597	23,404	15,005	10,742	18,380	32,023
`450/3`	3,653	19,950	20,625	11,906	12,489	5,608	5,466	7,501	13,797	8,820	9,721	6,206	46,272	7,713	18,223	15,825	14,618	3,563	3,248	8,255
`454/9`	11,435	11,074	10,982	19,093	10,166	10,082	15,922	15,261	12,635	10,758	13,351	10,910	11,409	9,011	30,374	7,580	387	7,179	15,132	23,768
`47/48`	74,742	79,361	93,122	97,333	106,478	41,223	49,826	62,059	91,786	85,632	103,250	280,674	161,013	160,649	336,316	388,007	194,414	203,213	70,227	39,899
`492/3`	17,141	377	800	0	14,890	-	-	-	-	-	-	116	-	-	18	-	-	-	-	-
Income statement
`76A`	0	413	43,587	0	3,000	3,000	-	19,500	826	-	4,558	1,000	22,622	5,035	250	12,330	-	5,200	-	1,262
`9900`	286,069	275,808	338,177	211,263	238,368	322,226	351,075	352,162	356,659	396,872	372,146	370,644	533,208	473,077	571,904	405,721	542,316	702,310	401,838	375,452
`62`	217,481	216,349	208,160	192,363	184,904	268,430	286,232	274,342	298,905	331,431	302,061	272,291	306,040	328,518	370,564	270,342	251,508	273,597	200,877	222,093
`630`	44,073	42,593	13,499	36,831	39,122	39,821	53,863	52,905	34,277	41,024	44,351	41,308	48,412	37,807	47,955	51,948	51,589	54,211	41,314	29,092
`631/4`	0	-10,000	10,000	-	-	-	-	-	-	-	-	-	-	-	13,099	-	-	-	-	-
`640/8`	1,941	2,136	2,319	2,784	2,157	2,661	2,513	3,562	3,006	3,248	3,282	3,439	4,356	7,790	3,688	4,817	4,710	10,096	6,630	4,432
`66A`	-	0	0	-	-	-	-	3,361	-	-	75	-	236	532	-	12,327	1,837	1,169	-	2,236
`9901`	22,574	24,729	104,199	-20,715	12,185	11,313	8,467	17,992	20,471	21,169	22,453	53,606	174,400	98,962	136,597	78,614	234,509	364,407	153,017	119,835
`75/76B`	362	328	282	88	1,637	3,034	1,001	7,446	2,615	3,439	5,054	13,304	17,555	19,298	10,685	2,686	10,743	13,190	3,859	2,880
`75`	362	328	282	88	1,637	3,034	1,001	7,446	2,615	3,439	5,054	13,304	17,555	19,298	10,685	2,686	10,743	13,190	3,859	2,880
`65/66B`	20,226	23,496	30,954	17,574	12,904	14,188	15,723	21,274	13,873	19,771	21,953	20,795	33,405	31,283	30,932	19,881	17,409	9,627	16,119	13,269
`65`	20,226	23,496	16,300	15,591	12,904	14,188	15,723	21,274	13,873	19,771	21,953	20,795	33,405	31,283	30,932	19,881	17,409	9,627	16,119	13,269
`66B`	-	0	14,654	1,983	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
`9903`	2,710	1,562	73,528	-38,201	918	159	-6,255	4,164	9,213	4,837	10,037	47,115	180,936	91,480	116,600	61,422	226,006	372,000	140,758	108,472
`67/77`	4,620	1,542	17,452	9	2,924	1,167	-	1,297	5,198	2,832	10,032	12,442	55,165	28,638	41,253	24,311	79,153	120,773	43,291	31,668
`9904`	-1,910	20	56,076	-38,210	-2,006	-1,008	-6,255	2,867	4,015	2,005	5	34,673	125,771	62,842	75,346	37,111	146,853	251,227	97,467	76,803
`789`	-	-	-	0	8,750	10,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-
`689`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	75,000	-	-
`9905`	-1,910	20	56,076	-38,210	6,744	8,992	-6,255	2,867	4,015	2,005	5	34,673	125,771	62,842	75,346	37,111	146,853	176,227	97,467	76,803
Appropriation of the result
`9906`	-1,910	20	17,866	-38,210	18,518	11,774	2,782	9,036	6,170	2,155	149	35,374	126,472	63,701	75,859	49,513	152,402	177,049	98,373	76,803
`14P`	-	0	-38,210	0	11,774	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
`791/2`	-	0	19,161	-	-	-	-	-	-	-	-	-	400,000	-	-	192,000	-	-	-	-
`691/2`	0	20	37,027	0	18,518	-	-	-	-	-	-	35,229	126,000	63,000	75,000	-	-	71,500	94,000	71,897
`6920`	-	-	-	-	-	-	-	-	-	-	-	29,229	36,000	-	-	-	-	-	-	-
`6921`	0	20	37,027	0	18,518	-	-	-	-	-	-	6,000	90,000	63,000	75,000	-	-	71,500	94,000	71,897
`694/7`	-	-	-	-	-	-	-	-	-	-	-	-	400,000	-	-	241,000	140,000	100,000	4,000	4,000
`694`	-	-	-	-	-	-	-	-	-	-	-	-	400,000	-	-	192,000	140,000	100,000	4,000	4,000
`695`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	49,000	-	-	-	-
Social balance sheet
`9087`	3	3	3	3	3.1	4.7	5	5.1	5.8	7.2	6.1	5.5	6.2	6.6	6.7	6.5	5.5	6	4	5
Hours worked`1013`	5,096	5,256	5,128	5,176	5,120	8,032	8,648	8,936	9,920	11,296	10,160	9,456	10,420	11,372	11,552	9,668	8,856	10,264	6,936	8,072
Document	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF

The accounts for 14 older financial years (1992-2005) were filed as documents without figures as data, scans for example.

The notes to these accounts have 13 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 03-07-2026.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank

Financial year	Type	Filed	Reference	Document
31-12-2025	full format	03-07-2026	2026-00247188	PDF
31-12-2024	abbreviated format	16-06-2025	2025-00143462	PDF
31-12-2023	abbreviated format	04-07-2024	2024-00211512	PDF
31-12-2022	abbreviated format	21-08-2023	2023-00336819	PDF
31-12-2021	abbreviated format	06-07-2022	2022-20160091	PDF
31-12-2020	abbreviated format	08-07-2021	2021-33700545	PDF
31-12-2019	abbreviated format	10-07-2020	2020-28900174	PDF
31-12-2018	abbreviated format	12-08-2019	2019-45800050	PDF
31-12-2017	abbreviated format	17-08-2018	2018-46700184	PDF
31-12-2016	abbreviated format	30-08-2017	2017-54100189	PDF
31-12-2015	abbreviated format	31-08-2016	2016-58600201	PDF
31-12-2014	abbreviated format	27-08-2015	2015-51200505	PDF
31-12-2013	abbreviated format	29-08-2014	2014-53300428	PDF
31-12-2012	abbreviated format	11-07-2013	2013-29600206	PDF
31-12-2011	abbreviated format	22-08-2012	2012-44000432	PDF
31-12-2010	abbreviated format	13-07-2011	2011-29200589	PDF
31-12-2009	abbreviated format	25-08-2010	2010-45000051	PDF
31-12-2008	abbreviated format	26-03-2010	2010-08500095	PDF
31-12-2007	abbreviated format	16-06-2008	2008-24500231	PDF
31-12-2006	abbreviated format	18-06-2007	2007-26600282	PDF
31-12-2005	abbreviated format	31-05-2006	2006-18302666	PDF
31-12-2004	abbreviated format	17-06-2005	2005-28204322	PDF
31-12-2003	abbreviated format	02-06-2004	2004-19002584	PDF
31-12-2002	abbreviated format	02-07-2003	2003-38002075	PDF
31-12-2001	abbreviated format	19-09-2002	2002-57203313	PDF
31-12-2000	abbreviated format	11-06-2001	2001-19602247	PDF
31-12-1999	abbreviated format	05-10-2000	2000-62102462	PDF
31-12-1998	abbreviated format	22-07-1999	1999-36200186	PDF
31-12-1997	abbreviated format	30-09-1998	1998-50301414	PDF
31-12-1996	abbreviated format	12-12-1997	1997-56601958	PDF
31-12-1995	abbreviated format	17-07-1996	1996-34803011	PDF
31-12-1994	abbreviated format	15-09-1995	1995-49600281	PDF
31-12-1993	abbreviated format	13-07-1994	1994-29503617	PDF
31-12-1992	abbreviated format	17-08-1993	1993-32005315	PDF

Key figures and ratios

per financial year, computed from the annual accounts

2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006
66,647	67,323	117,699	16,116	51,306	51,135	62,330	70,897	54,748	62,193	66,804	94,914	222,812	136,769	184,552	130,562	286,098	418,618	194,331	148,927
42,163	42,614	69,575	-1,379	37,116	38,813	47,608	55,771	38,292	43,030	44,355	75,981	174,183	100,649	123,302	89,059	198,442	305,438	138,781	105,896
7,376	37,672	139,395	9,579	13,735	10,685	34,644	164,124	0	0	76,068	18,565	116,933	8,250	24,706	70,395	23,463	143,663	53,229	9,531
6,835	-6,725	115,143	-58,145	-238,353	-14,207	-99,654	10,476	51,146	-48,252	-94,236	70,959	406,057	-199,776	-317,207	52,638	21,926	395,523	-48,511	-
258,390	237,068	235,873	204,031	248,759	599,179	599,271	622,589	641,186	626,571	618,104	537,671	629,460	559,097	497,045	412,906	580,716	574,337	453,340	381,465
38.9%	34.6%	35.6%	37.2%	38.3%	68.3%	63.0%	59.3%	66.0%	65.6%	58.9%	55.5%	58.2%	65.7%	44.4%	41.5%	62.6%	61.1%	73.9%	67.7%
2.51	2.04	2.14	2.08	2.22	5.65	4.52	4.21	4.47	4.79	3.73	2.35	2.66	3.18	1.89	1.81	2.88	2.91	4.75	4.08
2.25	1.77	1.96	1.52	1.75	4.99	4.07	3.96	4.33	4.49	3.66	2.35	2.66	3.18	1.89	1.81	2.88	2.91	4.75	4.08
1.18	1.50	1.42	1.17	1.19	0.32	0.44	0.54	0.37	0.38	0.55	0.80	0.72	0.52	1.25	1.41	0.60	0.64	0.35	0.48
-0.9%	0.0%	25.8%	-23.7%	-1.0%	-0.2%	-1.1%	0.5%	0.7%	0.4%	0.0%	6.2%	19.5%	11.2%	15.2%	8.8%	23.5%	40.7%	21.2%	21.0%
-0.3%	0.0%	9.2%	-8.8%	-0.4%	-0.1%	-0.7%	0.3%	0.5%	0.2%	0.0%	3.4%	11.4%	7.4%	6.7%	3.7%	14.7%	24.8%	15.7%	14.2%
3.30	2.87	7.22	1.03	3.98	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-

EBIT margin: not included in this filing.

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.

Social balance sheet

Item	31-12-2025	31-12-2024	31-12-2023	31-12-2022	31-12-2021
Employees at the balance-sheet date	3	3	3	3	3
full-time	3	3	3	3	3
part-time	0	0	0	0	0
in full-time equivalents	3	3	3	3	3
	3	3	3	3	3.1
On a permanent contract	3	3	3	3	3

Source: social balance sheet in the 2021 to 2025 annual accounts

Investments

fixed assets acquired

Item	2025	2024	2023	2022	2021
Tangible fixed assets	€7,376	€37,672	€139,395	€9,579	€13,735
Financial fixed assets	€0	-	-	-	-
	€44,073	€42,593	€13,499	€36,831	€39,122

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Insights on Moerman

The operating result for 2025 is 9% lower than in 2024 and the lowest since 2022. It is the second fall in a row.

Debt's share of the balance-sheet total falls from 51.9% to 45.8%. Equity and debt are lower.

Large changes and their cause

2021 Equity -64% on 2020. Capital reduction of €360,000 (Official Gazette 15-07-2021).

Next steps

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Annual accounts 2025

Balance sheet

Change in equityin euro

Change in cashin euro

Position in the sector

Solvency38.9%

Current ratio2.51

Return on assets-0.3%

Staff

Staff cost per FTE€72,494

Joined and left

Filed annual accounts

Filings

Key figures and ratios

Social balance sheet

Investments

Insights on Moerman

Next steps

in euro

in euro

38.9%

2.51

-0.3%

€72,494