ACTIVE

MERGAERT

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Financial year 2025 · closed on 30/11/2025

Net result

17,9 k €

-8.5% YoY

Gross margin

-3,8 k €

+49.9% YoY

Equity

1,2 M €

+1.5% YoY

What does MERGAERT do?

MERGAERT is a Public limited company incorporated in 1988. Its registered office is in Staden.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0436.133.279

Incorporation

15/12/1988

Legal form

Public limited company

Registered office

Statiestraat(STA) 20
8840 Staden · FlandreSee on map

Contributed capital

61 500,00 €

Latest accounts

30/11/2025

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflow

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	-3,8 k €	+49.9%	-7,6 k €	-41.2%	-5,4 k €	-101%	403,9 k €	+303%	100,1 k €	-8.4%	109,3 k €	-5.3%	115,5 k €	+3.3%	111,8 k €	+0.3%	111,4 k €	-5.0%	117,3 k €	-7.2%	126,4 k €	-10.1%	140,6 k €	+4.4%	134,7 k €	-4.8%	141,4 k €	-2.0%	144,4 k €	-7.7%	156,4 k €	-0.6%	157,3 k €	-3.9%	163,8 k €	+2.5%	159,7 k €	+8.8%	146,8 k €
EBITDA	-6 k €	+36.8%	-9,5 k €	-29.5%	-7,4 k €	-102%	402,1 k €	+309%	98,3 k €	-8.6%	107,6 k €	+10.8%	97,1 k €	+22.5%	79,2 k €	-0.6%	79,7 k €	-6.0%	84,9 k €	-8.9%	93,1 k €	-13.7%	107,9 k €	+5.7%	102,1 k €	-7.1%	109,9 k €	-3.5%	113,8 k €	-9.9%	126,4 k €	-1.1%	127,8 k €	-5.6%	135,4 k €	+1.5%	133,3 k €	+10.2%	120,9 k €
Operating result	-6 k €	+36.8%	-9,5 k €	-25.6%	-7,6 k €	-102%	401,7 k €	+311%	97,8 k €	-8.6%	107 k €	+12.1%	95,4 k €	+28.0%	74,5 k €	+5.4%	70,7 k €	-4.4%	74 k €	-7.3%	79,9 k €	-11.6%	90,4 k €	+11.9%	80,7 k €	-2.6%	82,9 k €	-2.5%	85 k €	-12.3%	97 k €	-3.5%	100,4 k €	-6.4%	107,3 k €	+0.5%	106,7 k €	+12.8%	94,6 k €
Net result	17,9 k €	-8.5%	19,5 k €	+63.1%	12 k €	-95.7%	279,2 k €	+272%	75,2 k €	-2.0%	76,7 k €	+10.3%	69,5 k €	+43.4%	48,5 k €	-29.1%	68,4 k €	-1.0%	69,1 k €	-12.4%	78,9 k €	-24.5%	104,5 k €	+2.4%	102,1 k €	-2.3%	104,5 k €	+3.5%	100,9 k €	-6.7%	108,2 k €	+1.9%	106,1 k €	+0.7%	105,4 k €	+12.4%	93,7 k €	+28.6%	72,9 k €
Balance sheet
Equity	1,2 M €	+1.5%	1,2 M €	+1.7%	1,2 M €	+1.0%	1,2 M €	+32.0%	872,9 k €	+9.4%	797,7 k €	+10.6%	721 k €	+10.7%	651,5 k €	-63.3%	1,8 M €	+4.0%	1,7 M €	+4.2%	1,6 M €	+5.1%	1,6 M €	+7.2%	1,5 M €	-1.3%	1,5 M €	+7.6%	1,4 M €	+8.0%	1,3 M €	+9.3%	1,2 M €	+10.1%	1,1 M €	+11.1%	947,9 k €	+11.0%	854,2 k €
Total assets	1,2 M €	+1.4%	1,2 M €	+1.6%	1,2 M €	-0.8%	1,2 M €	+22.3%	963,6 k €	+16.3%	828,8 k €	+1.2%	818,8 k €	+8.5%	755 k €	-60.0%	1,9 M €	+3.3%	1,8 M €	+3.7%	1,8 M €	+5.0%	1,7 M €	+6.9%	1,6 M €	-0.8%	1,6 M €	+6.4%	1,5 M €	+7.0%	1,4 M €	+8.0%	1,3 M €	+7.3%	1,2 M €	+11.6%	1,1 M €	+10.1%	974,8 k €
Cash	10,9 k €	+33.0%	8,2 k €	-36.0%	12,8 k €	-98.6%	904,4 k €	+68.2%	537,8 k €	+114%	251,3 k €	+11.4%	225,5 k €	+116%	104,6 k €	-86.9%	799,1 k €	+99.4%	400,8 k €	-21.1%	508,1 k €	+41.2%	359,8 k €	+6.3%	338,6 k €	+48.9%	227,4 k €	-25.0%	303,3 k €	-15.4%	358,5 k €	+49.0%	240,5 k €	-46.9%	452,8 k €	+10.2%	411,1 k €	-10.1%	457,5 k €
Debts	146 €	+16.8%	125 €	-43.4%	221 €	-99.2%	26 k €	-71.1%	90,2 k €	+198%	30,3 k €	-68.8%	97,1 k €	-5.3%	102,5 k €	-2.5%	105,1 k €	-7.2%	113,2 k €	-4.1%	118,1 k €	+4.2%	113,4 k €	+2.9%	110,2 k €	+6.1%	103,9 k €	-6.9%	111,5 k €	-4.2%	116,4 k €	-5.1%	122,7 k €	-13.7%	142,1 k €	+14.4%	124,2 k €	+4.0%	119,5 k €
Other
Workforce	–		–		–		–		–		–		–		–		0,8 ETP	0.0%	0,8 ETP	0.0%	0,8 ETP	0.0%	0,8 ETP	0.0%	0,8 ETP	0.0%	0,8 ETP	0.0%	0,8 ETP	0.0%	0,8 ETP	0.0%	0,8 ETP	0.0%	0,8 ETP	0.0%	0,8 ETP	0.0%	0,8 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

Seen on filing of 30/11/2025 · 2 active · 12 ended

Active mandates

Frans MERGAERT

Mandate

Active

Martine VERBEKE

Mandate

Active

Ended mandates

Frans MERGAERT

Chairman of the board of directors · since 27 décembre 2017 · until 26 décembre 2023

Ended

Frans MERGAERT

Chairman of the board of directors · since 27 décembre 2017 · until 27 décembre 2023

Ended

Martine VERBEKE

Director · since 27 décembre 2017 · until 26 décembre 2023

Ended

Martine VERBEKE

Director · since 27 décembre 2017 · until 27 décembre 2023

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro model
Start of the financial year	01/12/2024	01/12/2023	01/12/2022	01/12/2021	01/12/2020	01/12/2019
Closing of the financial year	30/11/2025	30/11/2024	30/11/2023	30/11/2022	30/11/2021	30/11/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	06/05/2026	06/05/2025	08/05/2024	11/05/2023	09/05/2022	21/05/2021
General meeting	02/05/2026	03/05/2025	04/05/2024	06/05/2023	07/05/2022	08/05/2021
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

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	30/11/2025	02/05/2026	06/05/2026	Dutch	PDF
Micro model	30/11/2024	03/05/2025	06/05/2025	Dutch	PDF
Micro model	30/11/2023	04/05/2024	08/05/2024	Dutch	PDF
Micro model	30/11/2022	06/05/2023	11/05/2023	Dutch	PDF
Micro model	30/11/2021	07/05/2022	09/05/2022	Dutch	PDF
Micro model	30/11/2020	08/05/2021	21/05/2021	Dutch	PDF
Micro model	30/11/2019	02/05/2020	22/05/2020	Dutch	PDF
Micro model	30/11/2018	04/05/2019	06/05/2019	Dutch	PDF
Abridged model	30/11/2017	05/05/2018	07/05/2018	Dutch	PDF
Abridged model	30/11/2016	06/05/2017	13/05/2017	Dutch	PDF
Abridged model	30/11/2015	07/05/2016	23/05/2016	Dutch	PDF
Abridged model	30/11/2014	02/05/2015	14/05/2015	Dutch	PDF
Abridged model	30/11/2013	03/05/2014	18/05/2014	Dutch	PDF
Abridged model	30/11/2012	04/05/2013	13/05/2013	Dutch	PDF
Abridged model	30/11/2011	05/05/2012	17/05/2012	Dutch	PDF
Abridged model	30/11/2010	07/05/2011	17/05/2011	Dutch	PDF
Abridged model	30/11/2009	08/05/2010	17/05/2010	Dutch	PDF
Abridged model	30/11/2008	02/05/2009	18/05/2009	Dutch	PDF
Abridged model	30/11/2007	03/05/2008	19/05/2008	Dutch	PDF
Abridged model	30/11/2006	05/05/2007	22/05/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 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 30/11/2025 · 2 active · 12 ended

Active mandates

Frans MERGAERT

Mandate

Active

Martine VERBEKE

Mandate

Active

Ended mandates

Frans MERGAERT

Chairman of the board of directors · since 27 décembre 2017 · until 26 décembre 2023

Ended

Frans MERGAERT

Chairman of the board of directors · since 27 décembre 2017 · until 27 décembre 2023

Ended

Martine VERBEKE

Director · since 27 décembre 2017 · until 26 décembre 2023

Ended

Martine VERBEKE

Director · since 27 décembre 2017 · until 27 décembre 2023

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates29/12/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - BENAMING - ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING
PDF
Capital / shares19/01/2018
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Capital / shares10/12/2013
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates11/01/2012
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN
PDF
Mandates10/06/2008
ONTSLAGEN - BENOEMINGEN
PDF
Mandates29/06/2007
ONTSLAGEN - BENOEMINGEN
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 202517,9 k €↓
2024
Annual accounts 202419,5 k €↑
2023
Annual accounts 202312 k €↓
2023
Name changeMERGAERT
2022
Annual accounts 2022279,2 k €↑
2021
Annual accounts 202175,2 k €↓
2021
Name changeMERGAERT VERZEKERINGEN
2020
Annual accounts 202076,7 k €↑
2019
Annual accounts 201969,5 k €↑
2018
Annual accounts 201848,5 k €↓
2017
Annual accounts 201768,4 k €↓
2016
Annual accounts 201669,1 k €↓
2015
Annual accounts 201578,9 k €↓
2014
Annual accounts 2014104,5 k €↑
2013
Annual accounts 2013102,1 k €↓
2012
Annual accounts 2012104,5 k €↑
2011
Annual accounts 2011100,9 k €↓
2010
Annual accounts 2010108,2 k €↑
2009
Annual accounts 2009106,1 k €↑
2008
Annual accounts 2008105,4 k €↑
2007
Annual accounts 200793,7 k €↑
2006
Annual accounts 200672,9 k €
15/12/1988
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

MERGAERT

Overview

What does MERGAERT do?

Trend over 20 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