ACTIVE

MERLY

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Financial year 2025 · closed on 30/04/2025

Net result

16 k €

-96.9% YoY

Gross margin

188,7 k €

-80.6% YoY

Equity

2,1 M €

-6.2% YoY

What does MERLY do?

MERLY is a Public limited company incorporated in 1948. Its registered office is in Erpe-Mere.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0400.160.731

Incorporation

01/04/1948

Legal form

Public limited company

Registered office

Oudenaardsesteenweg 251
9420 Erpe-Mere · FlandreSee on map

Contributed capital

71 678,00 €

Latest accounts

30/04/2025

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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✦ Verdict · Analyst summary

Financials

Trend over 15 financial years

	2025		2024		2023		2022		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009
Income statement
Gross margin	188,7 k €	-80.6%	974,7 k €	+383%	201,8 k €	+25.4%	160,9 k €	-41.8%	276,5 k €	+1.8%	271,5 k €	-0.7%	273,5 k €	+3.5%	264,3 k €	-2.2%	270,2 k €	+10.5%	244,6 k €	+27.7%	191,6 k €	+28.9%	148,6 k €	+125%	66 k €	+571%	9,8 k €	+139%	-25,3 k €
EBITDA	84,1 k €	-90.3%	868,9 k €	+401%	173,3 k €	+31.1%	132,2 k €	-47.5%	251,7 k €	+1.8%	247,2 k €	+7.7%	229,6 k €	+5.6%	217,4 k €	-4.1%	226,6 k €	+0.4%	225,7 k €	+30.3%	173,2 k €	+26.6%	136,8 k €	+138%	57,4 k €	+1840%	-3,3 k €	+92.7%	-45,2 k €
Operating result	1,7 k €	-99.8%	786,5 k €	+1185%	61,2 k €	+361%	13,3 k €	-91.3%	152,5 k €	+3.1%	147,9 k €	+13.2%	130,6 k €	+10.3%	118,4 k €	+328%	27,6 k €	+18.9%	23,2 k €	-73.7%	88,4 k €	+858%	-11,7 k €	-153%	21,9 k €	+157%	-38,4 k €	+52.1%	-80,3 k €
Net result	16 k €	-96.9%	509,8 k €	+1259%	37,5 k €	+530%	6 k €	-93.9%	97,1 k €	-5.7%	103 k €	+11.0%	92,7 k €	+15.5%	80,3 k €	+198%	27 k €	-27.8%	37,4 k €	-69.1%	121,1 k €	+269%	32,9 k €	-83.9%	204,5 k €	+11471%	1,8 k €	+160%	-2,9 k €
Balance sheet
Equity	2,1 M €	-6.2%	2,2 M €	+19.6%	1,8 M €	+2.1%	1,8 M €	+1.3%	1,8 M €	+5.8%	1,7 M €	+9.9%	1,5 M €	+6.4%	1,4 M €	+5.9%	1,4 M €	+2.0%	1,3 M €	+2.9%	1,3 M €	+10.3%	1,2 M €	+2.9%	1,1 M €	-39.2%	1,9 M €	+0.1%	1,9 M €
Total assets	2,4 M €	-8.1%	2,6 M €	+11.5%	2,4 M €	-4.4%	2,5 M €	-18.5%	3 M €	+2.0%	3 M €	-14.4%	3,5 M €	-0.8%	3,5 M €	-1.8%	3,6 M €	-4.1%	3,7 M €	+29.8%	2,9 M €	+0.0%	2,9 M €	+12.1%	2,5 M €	+0.0%	2,5 M €	-6.5%	2,7 M €
Cash	158,5 k €	-3.8%	164,7 k €	+141%	68,2 k €	+531%	10,8 k €	-93.9%	176,1 k €	+216%	55,8 k €	+50.8%	37 k €	+136%	15,7 k €	-76.4%	66,3 k €	+44.0%	46,1 k €	-44.2%	82,5 k €	+43.8%	57,4 k €	-93.3%	856,5 k €	+29.6%	660,7 k €	+203%	218,3 k €
Debts	217,2 k €	-22.3%	279,4 k €	-13.6%	323,4 k €	-28.5%	452,2 k €	-42.9%	791,4 k €	-2.5%	812,1 k €	-40.3%	1,4 M €	-7.9%	1,5 M €	-8.6%	1,6 M €	-9.8%	1,8 M €	+87.3%	956,5 k €	-9.1%	1,1 M €	+38.7%	759 k €	+694%	95,6 k €	-66.7%	287,3 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Governance

Board of directors

Seen on filing of 30/04/2025 · 3 active · 19 ended

Active mandates

Ann-Sophie Baeten

Director

Active

Anne Marie Pennewaert

Managing director

Active

Marie-Ann Baeten

Director

Active

Ended mandates

Anne-Marie Pennewaert

Managing director · since 11 septembre 2020 · until 01 octobre 2022

Ended

Anne-Marie Pennewaert

Managing director · since 11 septembre 2020

Ended

Ann-Sophie Baeten

Director · since 29 octobre 2016 · until 01 octobre 2022

Ended

Marie-Ann Baeten

Director · since 29 octobre 2016 · until 01 octobre 2022

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Abridged model	Abridged model
Start of the financial year	01/05/2024	01/05/2023	01/05/2022	01/05/2021	01/05/2020	01/05/2019
Closing of the financial year	30/04/2025	30/04/2024	30/04/2023	30/04/2022	30/04/2021	30/04/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	06/10/2025	07/10/2024	09/10/2023	26/10/2022	22/10/2021	24/11/2020
General meeting	04/10/2025	05/10/2024	07/10/2023	01/10/2022	02/10/2021	15/11/2020
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

18 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	30/04/2025	04/10/2025	06/10/2025	Dutch	PDF
Micro model	30/04/2024	05/10/2024	07/10/2024	Dutch	PDF
Micro model	30/04/2023	07/10/2023	09/10/2023	Dutch	PDF
Micro model	30/04/2022	01/10/2022	26/10/2022	Dutch	PDF
Abridged model	30/04/2021	02/10/2021	22/10/2021	Dutch	PDF
Abridged model	30/04/2020	15/11/2020	24/11/2020	Dutch	PDF
Abridged model	30/04/2019	05/10/2019	05/11/2019	Dutch	PDF
Abridged model	30/04/2018	06/10/2018	24/10/2018	Dutch	PDF
Abridged model	30/04/2017	27/10/2017	24/11/2017	Dutch	PDF
Abridged model	30/04/2016	29/10/2016	28/11/2016	Dutch	PDF
Abridged model	30/04/2015	17/10/2015	09/11/2015	Dutch	PDF
Abridged model	30/04/2014	30/10/2014	28/11/2014	Dutch	PDF
Abridged model	30/04/2013	05/10/2013	15/11/2013	Dutch	PDF
Abridged model	30/04/2012	31/10/2012	06/12/2012	Dutch	PDF
Abridged model	30/04/2011	31/10/2011	28/12/2011	Dutch	PDF
Abridged model	30/04/2010	29/10/2010	30/11/2010	Dutch	PDF
Abridged model	30/04/2009	03/10/2009	16/11/2009	Dutch	PDF
Abridged model	30/04/2008	08/10/2008	12/11/2008	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 5 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 30/04/2025 · 3 active · 19 ended

Active mandates

Ann-Sophie Baeten

Director

Active

Anne Marie Pennewaert

Managing director

Active

Marie-Ann Baeten

Director

Active

Ended mandates

Anne-Marie Pennewaert

Managing director · since 11 septembre 2020 · until 01 octobre 2022

Ended

Anne-Marie Pennewaert

Managing director · since 11 septembre 2020

Ended

Ann-Sophie Baeten

Director · since 29 octobre 2016 · until 01 octobre 2022

Ended

Marie-Ann Baeten

Director · since 29 octobre 2016 · until 01 octobre 2022

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Registered office02/09/2026
ZETELVERPLAATSING
PDF
Mandates29/01/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - DIVERSEN - DOEL - ONTSLAGEN - BENOEMINGEN
PDF
Mandates25/01/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates22/06/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates06/11/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates16/11/2017
ONTSLAGEN - BENOEMINGEN
PDF
Mandates25/01/2013
ONTSLAGEN - BENOEMINGEN
PDF
Mandates07/01/2011
DOEL - KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 202516 k €↓
2024
Annual accounts 2024509,8 k €↑
2023
Annual accounts 202337,5 k €↑
2022
Annual accounts 20226 k €↓
2019
Annual accounts 201997,1 k €↓
2018
Annual accounts 2018103 k €↑
2017
Annual accounts 201792,7 k €↑
2016
Annual accounts 201680,3 k €↑
2015
Annual accounts 201527 k €↓
2014
Annual accounts 201437,4 k €↓
2013
Annual accounts 2013121,1 k €↑
2012
Annual accounts 201232,9 k €↓
2011
Annual accounts 2011204,5 k €↑
2010
Annual accounts 20101,8 k €↑
2009
Annual accounts 2009-2,9 k €
01/04/1948
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

MERLY

Overview

What does MERLY do?

Trend over 15 financial years

Indicative valuation

Board of directors

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline