ACTIVE

MERCES

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Financial year 2025 · closed on 31/12/2025

Net result

110,5 k €

-0.0% YoY

Gross margin

168,1 k €

+0.2% YoY

Equity

532,8 k €

+26.2% YoY

What does MERCES do?

MERCES is a Public limited company incorporated in 1995. Its registered office is in Antwerpen.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0456.861.585

Incorporation

22/12/1995

Legal form

Public limited company

Registered office

Justitiestraat 30
2018 Antwerpen · FlandreSee on map

Contributed capital

92 960,07 €

Latest accounts

31/12/2025

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

View the BCE/KBO Public Search record →

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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	168,1 k €	+0.2%	167,9 k €	+0.5%	167 k €	+10.4%	151,3 k €	+5.3%	143,7 k €	+0.3%	143,2 k €	+0.7%	142,2 k €	+2.0%	139,4 k €	+0.3%	138,9 k €	+5.1%	132,1 k €	-0.1%	132,2 k €	-0.3%	132,6 k €	+1.5%	130,6 k €	+2.0%	128 k €	+3.0%	124,3 k €	+9105%	-1,4 k €	-140%	3,5 k €	+365%	745 €	-26.6%	1 k €	-23.0%	1,3 k €
EBITDA	167,3 k €	-0.0%	167,4 k €	+0.5%	166,5 k €	+10.8%	150,4 k €	+5.6%	142,4 k €	+0.5%	141,8 k €	+0.5%	141 k €	+1.7%	138,7 k €	+0.3%	138,3 k €	+5.4%	131,2 k €	-0.1%	131,4 k €	-0.1%	131,6 k €	+1.4%	129,7 k €	+1.9%	127,4 k €	+5.8%	120,3 k €	+5745%	-2,1 k €	-189%	2,4 k €	+3673%	-67 €	-147%	142 €	-78.0%	644 €
Operating result	147,3 k €	-0.0%	147,4 k €	+0.6%	146,5 k €	+9.6%	133,7 k €	-6.1%	142,4 k €	+0.5%	141,8 k €	+0.5%	141 k €	+1.7%	138,7 k €	+0.3%	138,3 k €	+5.4%	131,2 k €	-0.1%	131,4 k €	-0.1%	131,6 k €	+1.4%	129,7 k €	+1.9%	127,4 k €	+5.8%	120,3 k €	+5745%	-2,1 k €	-189%	2,4 k €	+3673%	-67 €	-147%	142 €	-78.0%	644 €
Net result	110,5 k €	-0.0%	110,5 k €	+0.6%	109,9 k €	+10.2%	99,7 k €	-3.4%	103,2 k €	-1.6%	104,9 k €	+5.4%	99,5 k €	+1.6%	98 k €	+5.5%	92,8 k €	+3.6%	89,6 k €	-0.4%	90 k €	-0.8%	90,7 k €	+2.3%	88,6 k €	+2.7%	86,3 k €	-2.9%	88,8 k €	+4244%	-2,1 k €	-190%	2,4 k €	+3673%	-67 €	-147%	142 €	-78.0%	646 €
Balance sheet
Equity	532,8 k €	+26.2%	422,3 k €	+35.4%	311,8 k €	+54.4%	201,9 k €	+97.5%	102,3 k €	-90.0%	1 M €	+11.5%	913,1 k €	+12.2%	813,5 k €	+13.7%	715,6 k €	+14.9%	622,7 k €	+16.8%	533,1 k €	+20.3%	443,2 k €	+25.7%	352,5 k €	+33.6%	263,8 k €	+48.6%	177,6 k €	+100%	88,7 k €	-2.4%	90,9 k €	+2.7%	88,5 k €	-0.1%	88,6 k €	+0.2%	88,4 k €
Total assets	533,2 k €	+26.1%	422,7 k €	+35.6%	311,8 k €	-22.4%	401,9 k €	+95.6%	205,5 k €	-79.8%	1 M €	+10.7%	919,8 k €	+11.6%	824,3 k €	+12.8%	731 k €	+11.7%	654,4 k €	+15.9%	564,6 k €	+21.3%	465,5 k €	+28.0%	363,7 k €	+34.7%	270 k €	+51.7%	178 k €	+100%	88,9 k €	-2.4%	91,1 k €	+2.7%	88,7 k €	-0.1%	88,8 k €	+0.2%	88,7 k €
Cash	275,6 k €	+50.6%	183 k €	+231%	55,3 k €	-56.9%	128,3 k €	+9.7%	116,9 k €	-87.4%	930 k €	+11.8%	832 k €	+13.0%	736,4 k €	+14.5%	643,1 k €	+13.5%	566,5 k €	+18.8%	476,7 k €	+26.2%	377,6 k €	+36.9%	275,8 k €	+51.4%	182,2 k €	+110%	86,7 k €	+7895%	1,1 k €	-64.8%	3,1 k €	+349%	685 €	-8.9%	752 €	-6.9%	808 €
Debts	376,4 €	-2.8%	387,3 €		–		200 k €	+93.8%	103,2 k €	+97386%	105,9 €	-98.4%	6,8 k €	-37.1%	10,7 k €	-30.4%	15,4 k €	-51.2%	31,6 k €	+0.6%	31,5 k €	+40.8%	22,3 k €	+99.4%	11,2 k €	+80.8%	6,2 k €	+1400%	413 €	+107%	200 €		–		–		–		–

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 31/12/2025 · 4 active · 25 ended

Active mandates

Karel De Bondt

Managing director · since 27 juillet 2021

Active

Mieke Verstraeten

Director · since 27 juillet 2021

Active

Elly Fontaine

Director · since 06 juin 2020

Active

Marcel Vanstiphout

Managing director · since 06 juin 2020

Active

Ended mandates

Elly Fontaine

Director · since 29 décembre 2023 · until 02 juin 2029

Ended

Karel De Bondt

Managing director · since 29 décembre 2023 · until 02 juin 2029

Ended

Marcel Vanstiphout

Director · since 29 décembre 2023 · until 02 juin 2029

Ended

Marcel Vanstiphout

Managing director · since 29 décembre 2023 · until 02 juin 2029

Ended

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Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged 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	24/07/2026	29/09/2025	16/07/2024	17/07/2023	29/07/2022	17/06/2021
General meeting	08/06/2026	30/06/2025	01/06/2024	03/06/2023	04/06/2022	05/06/2021
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

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	08/06/2026	24/07/2026	Dutch	PDF
Micro model	31/12/2024	30/06/2025	29/09/2025	Dutch	PDF
Micro model	31/12/2023	01/06/2024	16/07/2024	Dutch	PDF
Micro model	31/12/2022	03/06/2023	17/07/2023	Dutch	PDF
Micro model	31/12/2021	04/06/2022	29/07/2022	Dutch	PDF
Micro model	31/12/2020	05/06/2021	17/06/2021	Dutch	PDF
Micro model	31/12/2019	06/06/2020	29/06/2020	Dutch	PDF
Micro model	31/12/2018	01/06/2019	03/06/2019	Dutch	PDF
Micro model	31/12/2017	02/06/2018	19/07/2018	Dutch	PDF
Micro model	31/12/2016	03/06/2017	03/07/2017	Dutch	PDF
Abridged model	31/12/2015	04/06/2016	07/06/2016	Dutch	PDF
Abridged model	31/12/2014	06/06/2015	11/06/2015	Dutch	PDF
Abridged model	31/12/2013	07/06/2014	25/06/2014	Dutch	PDF
Abridged model	31/12/2012	01/06/2013	25/06/2013	Dutch	PDF
Abridged model	31/12/2011	02/06/2012	12/06/2012	Dutch	PDF
Abridged model	31/12/2010	04/06/2011	05/07/2011	Dutch	PDF
Abridged model	31/12/2009	05/06/2010	09/06/2010	Dutch	PDF
Abridged model	31/12/2008	06/06/2009	11/06/2009	Dutch	PDF
Abridged model	31/12/2007	07/06/2008	25/07/2008	Dutch	PDF
Abridged model	31/12/2006	02/06/2007	19/06/2007	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 31/12/2025 · 4 active · 25 ended

Active mandates

Karel De Bondt

Managing director · since 27 juillet 2021

Active

Mieke Verstraeten

Director · since 27 juillet 2021

Active

Elly Fontaine

Director · since 06 juin 2020

Active

Marcel Vanstiphout

Managing director · since 06 juin 2020

Active

Ended mandates

Elly Fontaine

Director · since 29 décembre 2023 · until 02 juin 2029

Ended

Karel De Bondt

Managing director · since 29 décembre 2023 · until 02 juin 2029

Ended

Marcel Vanstiphout

Director · since 29 décembre 2023 · until 02 juin 2029

Ended

Marcel Vanstiphout

Managing director · since 29 décembre 2023 · until 02 juin 2029

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates23/02/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - DOEL - KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN
PDF
Mandates20/08/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates04/11/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates25/08/2014
ONTSLAGEN - BENOEMINGEN
PDF
Mandates05/01/2009
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 2025110,5 k €↓
2024
Annual accounts 2024110,5 k €↑
2023
Annual accounts 2023109,9 k €↑
2022
Annual accounts 202299,7 k €↓
2021
Annual accounts 2021103,2 k €↓
2020
Annual accounts 2020104,9 k €↑
2019
Annual accounts 201999,5 k €↑
2018
Annual accounts 201898 k €↑
2017
Annual accounts 201792,8 k €↑
2016
Annual accounts 201689,6 k €↓
2015
Annual accounts 201590 k €↓
2014
Annual accounts 201490,7 k €↑
2013
Annual accounts 201388,6 k €↑
2012
Annual accounts 201286,3 k €↓
2011
Annual accounts 201188,8 k €↑
2010
Annual accounts 2010-2,1 k €↓
2009
Annual accounts 20092,4 k €↑
2008
Annual accounts 2008-67 €↓
2007
Annual accounts 2007142 €↓
2006
Annual accounts 2006646 €
22/12/1995
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

MERCES

Overview

What does MERCES do?

Trend over 20 financial years

Indicative valuation

Board of directors

Other companies at this address

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