MUERMANS
ActiveMUERMANS has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €430k and a net result of €-8k. Equity is shrinking by ~3.5% per year across the filed fiscal years. Its solvency ranks better than 49% of 7760 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
68
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability63▼-6
Solvency68=
Growth45=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days acceptable
Liquidity ample (current ratio 2.22 against 2.23 in 2024; short-term debt: 23.2% and cash: 16.5% of total assets), but 57.1% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five 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
Sector 43
higher
← 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 · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
29 d late
2023
30 d late
2022
32 d late
2021
31 d late
2020
31 d late
2019
63 d late
← before the deadline
after the deadline →
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
22-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
€1.46M▲ 11.2%
2018 · €1.32M
2018: €1.32M
2018 → 2019
EBIT margin
5.3%▲ 3.1pp
2018 · 2.2%
2018: 2.2%
2018 → 2019
Net result
€-8k
2024 · €3k
2018: €19k
2019: €58k
2020: €-108k
2021: €-18k
2022: €64k
2023: €-53k
2024: €3k
2018 → 2025
Working capital
€283k▼ 11.8%
2024 · €321k
2018: €478k
2019: €549k
2020: €414k
2021: €366k
2022: €448k
2023: €317k
2024: €321k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€479k-€543k▲ 13.3%€451k▼ 17.0%€454k▲ 0.7%€430k▼ 5.3%
Operating result€-11k-€66k€-49k€3k€-3k
Net result€-18k-€64k€-53k€3k€-8k
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €3k after €3k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.00M
Fixed assets
€487k▲ 0.9%
Current assets
€516k▼ 11.3%
Equity and liabilities €1.00M
Equity
€430k▼ 5.3%
Debt
€573k▼ 6.2%
The debt ratio falls from 57.4% to 57.1%. Equity and debt are lower.
Key figures and ratios
EBITDA
€41k▼
2024 · €55k
Cash flow
€36k▼
2024 · €55k
Solvency
42.9%▲
2024 · 42.6%
Current ratio
2.22▼
2024 · 2.23
Quick ratio
1.77▼
2024 · 1.84
Debt / equity
1.33▼
2024 · 1.35
ROE
-1.9%▼
2024 · 0.7%
ROA
-0.8%▼
2024 · 0.3%
Interest coverage
5.45▼
2024 · 7.34
Debt
€573k▼
2024 · €611k
Debt ≤ 1 year
€233k▼
2024 · €261k
Debt > 1 year
€341k▼
2024 · €350k
Income taxes
€622▼
2024 · €822
Staff costs
€491k▲
2024 · €433k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€1.06M€1.00M▼
Fixed assets21/28€483k€487k▲
Intangible fixed assets21€0€0=
Tangible fixed assets22/27€482k€486k▲
Land and buildings22€425k€403k▼
Plant, machinery and equipment23€6k€4k▼
Furniture and vehicles24€50k€79k▲
Financial fixed assets28€1k€1k▲
Current assets29/58€582k€516k▼
Stocks and contracts in progress3€102k€104k▲
Stocks30/36€86k€102k▲
Contracts in progress37€16k€1k▼
Amounts receivable within one year40/41€187k€164k▼
Trade receivables40€175k€163k▼
Other amounts receivable41€12k€1k▼
Current investments50/53€63k€69k▲
Cash at bank and in hand54/58€198k€165k▼
Deferred charges and accrued income490/1€32k€14k▼
Equity and liabilities
Total equity and liabilities10/49€1.06M€1.00M▼
Equity10/15€454k€430k▼
Contributions10/11€19k€19k=
Reserves13€532k€517k▼
Tax-exempt reserves132€15k€15k=
Distributable reserves133€517k€502k▼
Profit (loss) carried forward14€-97k€-105k▼
Amounts payable17/49€611k€573k▼
Amounts payable after more than one year17€350k€341k▼
Financial debts170/4€350k€341k▼
Amounts payable within one year42/48€261k€233k▼
Current portion of amounts payable after more than one year42€48k€53k▲
Trade debts44€174k€128k▼
Suppliers440/4€174k€128k▼
Taxes, remuneration and social security45€38k€37k▼
Taxes450/3€8k€7k▼
Remuneration and social security454/9€30k€30k▼
Other amounts payable47/48-€15k
Income statement
Code20242025
Non-recurring operating income76A-€10k
Remuneration, social security and pensions62€433k€491k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€52k€44k▼
Other operating charges640/8€8k€7k▼
Non-recurring operating charges66A-€1k
Gross operating margin9900€496k€541k▲
Operating profit (loss)9901€3k€-3k▼
Financial income75/76B€8k€3k▼
Recurring financial income75€8k€3k▼
Financial charges65/66B€7k€8k▲
Recurring financial charges65€7k€8k▲
Profit (loss) for the period before taxes9903€4k€-8k▼
Income taxes67/77€822€622▼
Profit (loss) for the period9904€3k€-8k▼
Profit (loss) for the period to be appropriated9905€3k€-8k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-97k€-105k▼
Profit (loss) brought forward from the previous period14P€-100k€-97k▲
Transfer from equity791/2-€16k
Profit to be distributed694/7-€16k
Return on contributions (dividend)694-€16k
Social balance
Average headcount (FTE)90877.87.8=
The notes to these accounts (16 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 31 days late
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 29 days late
2024
31-12
Financial
Back to profitnet €3k
Net result €3k after one loss-making year.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 30 days late
2023
01-09
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 32 days late
2022
31-12
Financial
Back to profitnet €64k
Net result €64k after 2 loss-making years.
31-12
Financial
Equity above €500kEq €543k ▲13.3%
Equity rises from €479k to €543k.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 31 days late
2020
31-12
Financial
Weakest financial yearnet €-108k ▼286%
Net result drops to €-108k, the lowest in the series; recovery starts the following year.
02-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 63 days late
2019
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 28 days late
2018
08-10
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 69 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
3 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, Genk · 1 establishment unit since 2002
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Seinhuisstraat 13600 GenkGround area
3.4 ha
Building footprint
4,499 m²
Volume, LiDAR
30,826 m³
Parcel 71302A0002/00K033, Flanders · tallest building 22.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Seinhuisstraat 1, 3600 Genk
since 20022.101.732.058
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71302A0002/00K033 | Flanders | 3.4 ha | 1 · 4,499 m² | 22.9 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 11 entries · 27,939 EUR awarded · 27,801 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 3 | 7,116 EUR | 7,116 EUR |
| 2024 | 3 | 6,874 EUR | 6,874 EUR |
| 2023 | 3 | 5,820 EUR | 5,892 EUR |
| 2022 | 2 | 8,129 EUR | 7,919 EUR |
Schemes
Vlaamse ondersteuningspremie (VOP) voor werkgevers (uitdovend stelsel)
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Premie kwalificerend werkplekleren
Subsidies ter ondersteuning van de professionele integratie van personen met een arbeidsbeperking
Recognitions · licences · registrations
Dual-learning approval
4 live approvalsSanitaire en verwarmingsinstallaties duaal (so)
Technicus installatietechnieken (vwo)
Technicus installatietechnieken duaal (so)
Vakman installatietechnieken (vwo)
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Of 9,530 companies in sector 43222 we hold annual accounts for 5,661. 4,194 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded05-04-2002
Fiscal year end31-12
Activities, NACEBEL
43222Installation of electric heating, air conditioning, cooling and ventilation
43221Plumbing work
45332
Sources
Crossroads Bank for EnterprisesNational Bank · 19 filingsAddress and cadastre registers
Data from official sources, last processed on 22-09-2026. Scores and ratios are computed by Checked and are not a credit decision.