ACTIVE

LETTREM

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Financial year 2025 · closed on 31/12/2025

Net result

15,6 k €

-65.5% YoY

Gross margin

66,8 k €

-21.8% YoY

Equity

192,2 k €

-7.2% YoY

What does LETTREM do?

LETTREM is a Private limited company incorporated in 1989. Its main activity is: Other manufacturing n.e.c.. Its registered office is in Vresse-sur-Semois.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0437.459.409

Incorporation

01/06/1989

Legal form

Private limited company

Registered office

Rue du Perré,Vresse 79-80
5550 Vresse-sur-Semois · WallonieSee on map

Contributed capital

37 136,69 €

Latest accounts

31/12/2025

Activities (NACE)

32990Other manufacturing n.e.c.· main 32990Other manufacturing n.e.c.36630Water collection, treatment and supply 92723Gambling and betting activities 93299Other amusement and recreation activities 93299Other amusement and recreation activities

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 21 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006		2005
Income statement
Gross margin	66,8 k €	-21.8%	85,4 k €	+55.2%	55 k €	+12.3%	49 k €	-37.0%	77,8 k €	+168%	29 k €	-21.7%	37,1 k €	+18.2%	31,4 k €	+25.7%	25 k €	-32.5%	36,9 k €	+71.9%	21,5 k €	+30.2%	16,5 k €	-55.3%	36,9 k €	+50.7%	24,5 k €	+13.1%	21,7 k €	-25.8%	29,2 k €	-34.1%	44,3 k €	-23.1%	57,7 k €	-4.3%	60,3 k €	+49.3%	40,4 k €	+72.8%	23,4 k €
EBITDA	60,3 k €	-25.4%	80,8 k €	+58.6%	50,9 k €	+21.0%	42,1 k €	-33.1%	62,9 k €	+141%	26,1 k €	+2.9%	25,4 k €	-2.5%	26 k €	+27.6%	20,4 k €	-35.8%	31,8 k €	+91.5%	16,6 k €	+19.3%	13,9 k €	-50.9%	28,3 k €	+32.6%	21,3 k €	+20.2%	17,8 k €	+552%	2,7 k €	-65.8%	8 k €	-70.6%	27,1 k €	-13.6%	31,3 k €	+55.6%	20,1 k €	+3.8%	19,4 k €
Operating result	26,2 k €	-54.9%	58,2 k €	+99.8%	29,1 k €	+7.6%	27,1 k €	-48.4%	52,4 k €	+353%	11,6 k €	-11.0%	13 k €	+11.8%	11,6 k €	+39.3%	8,3 k €	-59.7%	20,7 k €	+105%	10,1 k €	+22.6%	8,2 k €	-67.3%	25,2 k €	+130%	10,9 k €	+682%	-1,9 k €	+89.1%	-17,2 k €	-11.5%	-15,4 k €	-398%	5,2 k €	-33.3%	7,7 k €	+253%	-5,1 k €	+62.9%	-13,7 k €
Net result	15,6 k €	-65.5%	45,3 k €	+147%	18,3 k €	+44.1%	12,7 k €	-66.1%	37,5 k €	+427%	7,1 k €	-26.5%	9,7 k €	+16.9%	8,3 k €	+38.7%	6 k €	-67.5%	18,4 k €	+87.6%	9,8 k €	+76.1%	5,6 k €	-73.7%	21,1 k €	+261%	5,8 k €	+192%	-6,3 k €	+72.2%	-22,8 k €	-19.1%	-19,1 k €	-4278%	-437,1 €	-122%	2 k €	+119%	-10,6 k €	+41.8%	-18,2 k €
Balance sheet
Equity	192,2 k €	-7.2%	207,1 k €	+28.0%	161,9 k €	+12.8%	143,5 k €	+9.7%	130,8 k €	+40.1%	93,4 k €	+8.2%	86,3 k €	+12.6%	76,6 k €	+12.1%	68,3 k €	+9.6%	62,3 k €	+41.7%	44 k €	+28.6%	34,2 k €	+19.4%	28,7 k €	+279%	7,6 k €	+339%	1,7 k €	-78.6%	8 k €	-73.9%	30,8 k €	+58.5%	19,5 k €	-2.2%	19,9 k €	+11.3%	17,9 k €	0.0%	17,9 k €
Total assets	200,4 k €	-10.4%	223,5 k €	+24.8%	179,1 k €	+2.4%	174,9 k €	+13.8%	153,7 k €	+23.4%	124,6 k €	+8.6%	114,7 k €	-4.0%	119,5 k €	+9.9%	108,7 k €	+7.9%	100,8 k €	+23.4%	81,7 k €	-10.9%	91,7 k €	+16.6%	78,6 k €	+13.3%	69,4 k €	-10.8%	77,8 k €	-22.9%	101 k €	-12.0%	114,8 k €	+15.2%	99,6 k €	-7.3%	107,4 k €	-10.1%	119,4 k €	-7.1%	128,5 k €
Cash	44,3 k €	-39.0%	72,7 k €	+47.7%	49,2 k €	+171%	18,1 k €	-71.2%	62,9 k €	+134%	26,9 k €	-24.1%	35,5 k €	+221%	11,1 k €	-7.1%	11,9 k €	+31.2%	9,1 k €	+81.7%	5 k €	-41.4%	8,5 k €	+31.1%	6,5 k €	+999%	590,9 €	-37.8%	949,3 €	+223%	294 €	-62.2%	777,2 €	-49.0%	1,5 k €		–		41,3 €	-99.1%	4,5 k €
Debts	8,2 k €	-50.3%	16,4 k €	-5.0%	17,3 k €	-45.0%	31,4 k €	+37.1%	22,9 k €	-26.7%	31,2 k €	+9.7%	28,5 k €	-33.6%	42,9 k €	+6.1%	40,4 k €	+5.2%	38,4 k €	+2.0%	37,7 k €	-34.4%	57,4 k €	+14.9%	50 k €	-19.2%	61,9 k €	-18.7%	76,1 k €	-17.1%	91,8 k €	+12.7%	81,4 k €	+3.3%	78,8 k €	-8.8%	86,4 k €	-14.6%	101,2 k €	-8.2%	110,2 k €
Other
Workforce	–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		0,8 ETP	-11.1%	0,9 ETP	-10.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP		–

Estimate

Indicative valuation

As an indication, this company is worth

between 250 k€ and 500 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 15 ended

Active mandates

Claude André Mergny

Director · since 27 mars 2025

Active

Ended mandates

Claude André Mergny

Managing director · since 06 avril 2017 · until 05 avril 2023

Ended

Claude André Mergny

Managing director · since 06 avril 2017

Ended

Claude Mergny

Director · since 06 avril 2017 · until 05 avril 2023

Ended

Claude Mergny

Managing director · since 06 avril 2017 · until 05 avril 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	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	17/06/2026	10/06/2025	10/06/2024	25/08/2023	10/06/2022	13/07/2021
General meeting	09/06/2026	10/06/2025	09/06/2024	09/06/2023	09/06/2022	09/06/2021
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

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	09/06/2026	17/06/2026	French	PDF
Micro model	31/12/2024	10/06/2025	10/06/2025	French	PDF
Micro model	31/12/2023	09/06/2024	10/06/2024	French	PDF
Micro model	31/12/2022	09/06/2023	25/08/2023	French	PDF
Micro model	31/12/2021	09/06/2022	10/06/2022	French	PDF
Micro model	31/12/2020	09/06/2021	13/07/2021	French	PDF
Micro model	31/12/2019	15/06/2020	17/08/2020	French	PDF
Micro model	31/12/2018	11/06/2019	30/08/2019	French	PDF
Micro model	31/12/2017	11/10/2018	26/10/2018	French	PDF
Micro model	31/12/2016	09/10/2017	09/10/2017	French	PDF
Abridged model	31/12/2015	14/12/2016	15/12/2016	French	PDF
Abridged model	31/12/2014	09/06/2015	29/01/2016	French	PDF
Abridged model	31/12/2013	10/06/2014	29/08/2014	French	PDF
Abridged model	31/12/2012	15/07/2013	30/08/2013	French	PDF
Abridged model	31/12/2011	28/02/2013	18/03/2013	French	PDF
Abridged model	31/12/2010	29/01/2013	18/03/2013	French	PDF
Abridged model	31/12/2009	09/06/2010	24/01/2013	French	PDF
Abridged model	31/12/2008	09/06/2009	30/09/2009	French	PDF
Abridged model	31/12/2007	06/06/2008	06/07/2009	French	PDF
Abridged model	31/12/2006	09/06/2007	25/09/2007	French	PDF
Abridged model	31/12/2005	09/06/2006	25/09/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 250 k€ and 500 k€

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 31/12/2025 · 1 active · 15 ended

Active mandates

Claude André Mergny

Director · since 27 mars 2025

Active

Ended mandates

Claude André Mergny

Managing director · since 06 avril 2017 · until 05 avril 2023

Ended

Claude André Mergny

Managing director · since 06 avril 2017

Ended

Claude Mergny

Director · since 06 avril 2017 · until 05 avril 2023

Ended

Claude Mergny

Managing director · since 06 avril 2017 · until 05 avril 2023

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates31/03/2025
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - OBJET - DEMISSIONS, NOMINATIONS - ASSEMBLEE GENERALE
PDF
Other12/09/2024
Modification des statuts - Modification divers
PDF
Mandates10/01/2019
DEMISSIONS, NOMINATIONS
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 202515,6 k €↓
2024
Annual accounts 202445,3 k €↑
2023
Annual accounts 202318,3 k €↑
2022
Annual accounts 202212,7 k €↓
2021
Annual accounts 202137,5 k €↑
2020
Annual accounts 20207,1 k €↓
2019
Annual accounts 20199,7 k €↑
2018
Annual accounts 20188,3 k €↑
2017
Annual accounts 20176 k €↓
2016
Annual accounts 201618,4 k €↑
2015
Annual accounts 20159,8 k €↑
2014
Annual accounts 20145,6 k €↓
2013
Annual accounts 201321,1 k €↑
2012
Annual accounts 20125,8 k €↑
2011
Annual accounts 2011-6,3 k €↑
2010
Annual accounts 2010-22,8 k €↓
2009
Annual accounts 2009-19,1 k €↓
2008
Annual accounts 2008-437,1 €↓
2007
Annual accounts 20072 k €↑
2006
Annual accounts 2006-10,6 k €↑
2005
Annual accounts 2005-18,2 k €
01/06/1989
IncorporationPrivate 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

LETTREM

Overview

What does LETTREM do?

Trend over 21 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