ACTIVE

MERLIN

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Financial year 2025 · closed on 30/09/2025
Net result
202,2 k €
+22.1% YoY
Gross margin
1,6 M €
+15.2% YoY
Equity
2,6 M €
+8.3% YoY
Workforce
22,6 ETP
-4.6% YoY

What does MERLIN do?

MERLIN is a Public limited company incorporated in 1989. Its main activity is: Retail sale of other household equipment in specialised stores. Its registered office is in Geraardsbergen. It employs on average 22,6 ETP workers (FTE).

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0439.333.784
Incorporation
15/12/1989
Legal form
Public limited company
Registered office
Kattestraat 62
9500 Geraardsbergen · FlandreSee on map
Contributed capital
200 000,00 €
Latest accounts
30/09/2025
Average workforce
22,6 ETP
Activities (NACE)
47551Retail sale of other household equipment in specialised stores· main47591Retail sale of furniture, lighting equipment and other household articles in specialised stores52441Warehousing and support activities for transportation
Joint committees (4)
  • 126
  • 12601
  • 201
  • 20100
Signals
ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts
View the BCE/KBO Public Search record →
Health score
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✦ Verdict · Analyst summary
Financials

Trend over 19 financial years

2025202420232022202120202019201820172016201520142013201220112010200920082007
Income statement
Gross margin1,6 M €1,4 M €1,4 M €1,3 M €1,2 M €1 M €1,8 M €994,6 k €1,2 M €989,6 k €839,2 k €895,2 k €813,6 k €760,4 k €707,2 k €693 k €662,3 k €660,3 k €693,5 k €
EBITDA487,4 k €324,6 k €388,1 k €253,6 k €339 k €270,1 k €945,6 k €218,5 k €449,2 k €266,4 k €177,1 k €259,1 k €189,3 k €132,4 k €91,2 k €146,4 k €48,1 k €21,4 k €93,1 k €
Operating result333,4 k €174,1 k €237,6 k €128,5 k €273,6 k €205,9 k €877,5 k €128,9 k €348,3 k €175,8 k €104,1 k €173,8 k €137 k €70,6 k €54,6 k €82,7 k €3,5 k €-18,6 k €53 k €
Net result202,2 k €165,7 k €196 k €142,8 k €225,1 k €161,5 k €654,6 k €100,7 k €277,8 k €108,1 k €83,3 k €113 k €91,1 k €51,1 k €251,7 €34,6 k €-36,1 k €-125,9 k €29,4 k €
Balance sheet
Equity2,6 M €2,4 M €2,3 M €2,1 M €1,9 M €1,7 M €1,7 M €1,1 M €979,2 k €701,4 k €593,3 k €510 k €397,1 k €306 k €254,9 k €254,6 k €220 k €256,1 k €382,1 k €
Total assets3,8 M €3,6 M €3,6 M €3,7 M €3,5 M €3,7 M €3,5 M €2,3 M €2,3 M €2,2 M €1,9 M €1,8 M €1,7 M €1,6 M €1,7 M €1,7 M €1,7 M €1,7 M €1,7 M €
Cash1,5 M €1,7 M €1,8 M €1,5 M €2,2 M €2,5 M €2,1 M €684,9 k €767,7 k €672,8 k €269,2 k €273,9 k €168 k €110,5 k €171,9 k €11,8 k €6,6 k €15,6 k €29,9 k €
Debts1,1 M €1,1 M €1,2 M €1,6 M €1,5 M €1,9 M €1,7 M €1,2 M €1,3 M €1,5 M €1,3 M €1,2 M €1,3 M €1,3 M €1,5 M €1,4 M €1,5 M €1,4 M €1,3 M €
Other
Workforce22,6 ETP23,7 ETP24,0 ETP24,0 ETP23,5 ETP21,1 ETP21,3 ETP21,0 ETP20,3 ETP19,7 ETP17,3 ETP16,6 ETP17,2 ETP17,2 ETP17,1 ETP16,2 ETP17,3 ETP21,1 ETP20,1 ETP
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 30/09/2025 · 3 active · 33 ended

Active mandates

Françoise Cock

Director · since 28 décembre 2023

Active
Katelijne D'Herde

Director · since 28 décembre 2023

Active
Patrick Gryspeirt

Director · since 28 décembre 2023

Active

Ended mandates

Françoise Cock

Director · since 09 février 2024 · until 09 février 2030

Ended
Katelijne D'Herde

Director · since 09 février 2024 · until 09 février 2030

Ended
Patrick Gryspeirt

Managing director · since 09 février 2024 · until 09 février 2030

Ended
Patrick Gryspeirt

Managing director · since 28 décembre 2023

Ended
At this address

Other companies at this address

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ALCASA WONINGBOUW● Active
0866.681.637
ALDOMUS● Active
0534.862.651
Kunst- en Cultuurkring Geraardsbergen● Active
0521.879.992
Vereniging van mede-eigenaars Residentie QUATTRO te Geraardsbergen, Kattestraat 62● Active
0832.194.969
WILDFEST PRODUCTIONS● Active
0649.450.236
Annual accounts

Full financial information

202520242023202220212020
Type of accountAbridged modelAbridged modelAbridged modelAbridged modelAbridged modelAbridged model
Start of the financial year01/10/202401/10/202301/10/202201/10/202101/10/202001/10/2019
Closing of the financial year30/09/202530/09/202430/09/202330/09/202230/09/202130/09/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date31/03/202630/04/202530/04/202417/03/202329/04/202230/04/2021
General meeting13/02/202631/03/202509/02/202414/02/202308/02/202209/02/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Abridged model30/09/202513/02/202631/03/2026DutchPDF
Abridged model30/09/202431/03/202530/04/2025DutchPDF
Abridged model30/09/202309/02/202430/04/2024DutchPDF
Abridged model30/09/202214/02/202317/03/2023DutchPDF
Abridged model30/09/202108/02/202229/04/2022DutchPDF
Abridged model30/09/202009/02/202130/04/2021DutchPDF
Abridged model30/09/201930/06/202030/06/2020DutchPDF
Abridged model30/09/201808/02/201920/06/2019DutchPDF
Abridged model30/09/201709/02/201825/04/2018DutchPDF
Abridged model30/09/201610/02/201731/03/2017DutchPDF
Abridged model30/09/201512/02/201614/04/2016DutchPDF
Abridged model30/09/201413/02/201531/03/2015DutchPDF
Abridged model30/09/201331/03/201428/04/2014DutchPDF
Abridged model30/09/201231/03/201328/06/2013DutchPDF
Abridged model30/09/201131/03/201230/06/2012DutchPDF
Abridged model30/09/201031/03/201110/05/2011DutchPDF
Abridged model30/09/200931/03/201028/04/2010DutchPDF
Abridged model30/09/200830/04/200929/05/2009DutchPDF
Abridged model30/09/200710/03/200809/04/2008DutchPDF
Abridged model30/09/200609/02/200705/03/2007DutchPDF
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 30/09/2025 · 3 active · 33 ended

Active mandates

Françoise Cock

Director · since 28 décembre 2023

Active
Katelijne D'Herde

Director · since 28 décembre 2023

Active
Patrick Gryspeirt

Director · since 28 décembre 2023

Active

Ended mandates

Françoise Cock

Director · since 09 février 2024 · until 09 février 2030

Ended
Katelijne D'Herde

Director · since 09 février 2024 · until 09 février 2030

Ended
Patrick Gryspeirt

Managing director · since 09 février 2024 · until 09 février 2030

Ended
Patrick Gryspeirt

Managing director · since 28 décembre 2023

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Mandates02/01/2024
    STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …) - DOEL - ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates26/04/2018
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates21/04/2015
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates19/07/2013
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates04/01/2013
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Restructuring15/10/2008
    KAPITAAL - AANDELEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
    PDF
  • Restructuring01/07/2008
    RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
    PDF
  • Mandates23/02/2007
    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

Timeline

  1. 2025
    Annual accounts 2025202,2 k €↑
  2. 2024
    Annual accounts 2024165,7 k €↓
  3. 2023
    Annual accounts 2023196 k €↑
  4. 2022
    Annual accounts 2022142,8 k €↓
  5. 2021
    Annual accounts 2021225,1 k €↑
  6. 2020
    Annual accounts 2020161,5 k €↓
  7. 2019
    Annual accounts 2019654,6 k €↑
  8. 2018
    Annual accounts 2018100,7 k €↓
  9. 2017
    Annual accounts 2017277,8 k €↑
  10. 2016
    Annual accounts 2016108,1 k €↑
  11. 2015
    Annual accounts 201583,3 k €↓
  12. 2014
    Annual accounts 2014113 k €↑
  13. 2013
    Annual accounts 201391,1 k €↑
  14. 2012
    Annual accounts 201251,1 k €↑
  15. 2011
    Annual accounts 2011251,7 €↓
  16. 2010
    Annual accounts 201034,6 k €↑
  17. 2009
    Annual accounts 2009-36,1 k €↑
  18. 2008
    Annual accounts 2008-125,9 k €↓
  19. 2007
    Annual accounts 200729,4 k €
  20. 15/12/1989
    IncorporationPublic limited company