ACTIVE

MERENA

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Financial year 2025 · closed on 30/11/2025

Net result

-1 M €

-1625.9% YoY

Gross margin

-54,7 k €

-40.3% YoY

Equity

7,9 M €

-19.0% YoY

What does MERENA do?

MERENA is a Public limited company incorporated in 2000. Its main activity is: Activities of holding companies. Its registered office is in Watermael-Boitsfort.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0473.356.337

Incorporation

27/11/2000

Legal form

Public limited company

Registered office

Drève des Rhododendrons 5
1170 Watermael-Boitsfort · BruxellesSee on map

Contributed capital

500 000,00 €

Latest accounts

30/11/2025

Activities (NACE)

64200Activities of holding companies· main 64210Activities of holding companies 65231Reinsurance 70200Management consultancy activities 70220Business and other management consultancy activities 47551Retail sale of other household equipment in specialised stores+12

Joint committees (1)

Signals

Solid equityLow riskGood liquidityHealthy social debts

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	-54,7 k €	-40.3%	-39 k €	-544%	8,8 k €	+142%	-20,9 k €	-176%	27,3 k €	+255%	-17,6 k €	+80.7%	-91,4 k €	-144%	-37,4 k €	+21.0%	-47,4 k €	+10.9%	-53,2 k €	-384%	-11 k €	-117%	-5,1 k €	+76.9%	-21,9 k €	+71.7%	-77,5 k €	+19.3%	-96,1 k €	+1.2%	-97,2 k €	-163%	-36,9 k €	-154%	68,6 k €	-6.5%	73,4 k €
EBITDA	-115,1 k €	-20.0%	-95,9 k €	-15.4%	-83,1 k €	-26.1%	-65,9 k €	-1132%	6,4 k €	+134%	-18,8 k €	+79.7%	-92,5 k €	-141%	-38,4 k €	+20.5%	-48,4 k €	+11.9%	-54,9 k €	-333%	-12,7 k €	-85.0%	-6,8 k €	+74.8%	-27,2 k €	+71.5%	-95,5 k €	+2.3%	-97,8 k €	+2.5%	-100,2 k €	-149%	-40,3 k €	-160%	66,7 k €	+10.9%	60,2 k €
Operating result	-129,6 k €	-10.7%	-117 k €	-12.9%	-103,7 k €	-25.3%	-82,7 k €	-2754%	3,1 k €	+113%	-23,4 k €	+76.0%	-97,3 k €	-141%	-40,3 k €	+20.2%	-50,5 k €	+9.6%	-55,9 k €	-327%	-13,1 k €	-63.9%	-8 k €	+73.5%	-30,1 k €	+72.7%	-110,1 k €	+1.9%	-112,2 k €	+2.5%	-115,1 k €	-107%	-55,6 k €	-209%	51,1 k €	-8.6%	56 k €
Net result	-1 M €	-1626%	-58,6 k €	-114%	404,9 k €	-16.2%	483,3 k €	-4.2%	504,4 k €	+299%	-253,9 k €	-104%	5,8 M €	+14275%	-41 k €	+19.8%	-51,1 k €	-39.4%	-36,7 k €	-267%	-10 k €	-105%	200,2 k €	-27.3%	275,6 k €	+109%	132,1 k €	-53.4%	283,2 k €	+29.2%	219,2 k €	-52.6%	462,3 k €	+0.6%	459,4 k €	+263%	126,6 k €
Balance sheet
Equity	7,9 M €	-19.0%	9,7 M €	-3.1%	10,1 M €	+4.2%	9,7 M €	+5.3%	9,2 M €	+5.8%	8,7 M €	-2.8%	8,9 M €	+187%	3,1 M €	-1.3%	3,1 M €	-3.2%	3,3 M €	-1.1%	3,3 M €	-0.3%	3,3 M €	+6.5%	3,1 M €	+9.8%	2,8 M €	+4.9%	2,7 M €	+11.8%	2,4 M €	+10.0%	2,2 M €	+26.8%	1,7 M €	+36.3%	1,3 M €
Total assets	8,8 M €	-12.9%	10,1 M €	-0.7%	10,1 M €	+3.8%	9,7 M €	+5.1%	9,3 M €	+6.0%	8,7 M €	-8.7%	9,6 M €	+92.4%	5 M €	-0.4%	5 M €	+1.2%	4,9 M €	+0.4%	4,9 M €	+6.8%	4,6 M €	+15.3%	4 M €	+11.1%	3,6 M €	+5.3%	3,4 M €	+8.3%	3,2 M €	+11.1%	2,8 M €	+16.3%	2,4 M €	+5.1%	2,3 M €
Cash	1,1 M €	+296%	271,4 k €	-36.5%	427,6 k €	+111%	202,3 k €	-77.5%	899,8 k €	+19.3%	754 k €	-35.7%	1,2 M €	+14868%	7,8 k €	+2538%	297,1 €	-97.9%	14,3 k €	+307%	3,5 k €	-86.6%	26,2 k €	+184%	9,2 k €	-91.0%	102,2 k €		–		15,8 k €		–		70,7 k €	+340%	16,1 k €
Debts	863 k €	+188%	299,4 k €	+404%	59,4 k €	-35.6%	92,2 k €	-6.6%	98,7 k €	+31.1%	75,3 k €	-88.4%	649,6 k €	-65.2%	1,9 M €	+1.2%	1,8 M €	+9.6%	1,7 M €	+3.6%	1,6 M €	+24.6%	1,3 M €	+45.8%	894,4 k €	+15.9%	771,6 k €	+7.0%	721,2 k €	-3.0%	743,8 k €	+14.8%	647,9 k €	-7.9%	703,5 k €	-33.2%	1,1 M €
Other
Workforce	–		–		–		–		–		–		–		–		–		–		–		–		–		0,4 ETP		–		–		–		–		0,3 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 5 M€ and 10 M€

See the valuation

Governance

Board of directors

Seen on filing of 30/11/2025 · 5 active · 21 ended

Active mandates

Mélusine Boon Falleur

Director · since 18 mars 2023 · until 18 mars 2029

Active

Bernard Boon Falleur

Managing director · until 15 mars 2028

Active

Bettina Boon Falleur

Director · until 16 mars 2030

Active

France De Kinder

Director · until 15 mars 2028

Active

Thérèse Boon Falleur

Director · until 16 mars 2030

Active

Ended mandates

Bettina Boon Falleur

Director · since 17 mars 2018 · until 16 mars 2024

Ended

Thérèse Boon Falleur

Director · since 17 mars 2018 · until 16 mars 2024

Ended

Bernard Boon Falleur

Managing director · since 19 mars 2016 · until 15 mars 2022

Ended

France De Kinder

Director · since 19 mars 2016 · until 15 mars 2022

Ended

At this address

Other companies at this address

Company	CBE no.
L' école de tous● Active	0598.831.676
Nabole● Active	1015.336.315

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	20/04/2026	01/04/2025	11/04/2024	31/03/2023	01/06/2022	02/06/2021
General meeting	21/03/2026	15/03/2025	16/03/2024	18/03/2023	19/03/2022	12/05/2021
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	21/03/2026	20/04/2026	French	PDF
Micro model	30/11/2024	15/03/2025	01/04/2025	French	PDF
Micro model	30/11/2023	16/03/2024	11/04/2024	French	PDF
Micro model	30/11/2022	18/03/2023	31/03/2023	French	PDF
Micro model	30/11/2021	19/03/2022	01/06/2022	French	PDF
Micro model	30/11/2020	12/05/2021	02/06/2021	French	PDF
Micro model	30/11/2019	21/03/2020	22/04/2020	French	PDF
Micro model	30/11/2018	16/03/2019	16/04/2019	French	PDF
Micro model	30/11/2017	17/03/2018	09/04/2018	French	PDF
Abridged model	30/11/2016	18/03/2017	02/02/2018	French	PDF
Abridged model	30/11/2015	19/03/2016	20/05/2016	French	PDF
Abridged model	30/11/2014	21/03/2015	12/05/2015	French	PDF
Abridged model	30/11/2013	15/03/2014	13/06/2014	French	PDF
Abridged model	30/11/2012	16/03/2013	07/06/2013	French	PDF
Abridged model	30/11/2011	17/03/2012	21/05/2012	French	PDF
Abridged model	30/11/2010	19/03/2011	17/05/2011	French	PDF
Abridged model	30/11/2009	20/03/2010	27/05/2010	French	PDF
Abridged model	30/11/2008	21/03/2009	29/04/2009	French	PDF
Abridged model	30/11/2007	15/03/2008	23/04/2008	French	PDF
Abridged model	30/11/2006	17/03/2007	29/05/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 5 M€ and 10 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 · 5 active · 21 ended

Active mandates

Mélusine Boon Falleur

Director · since 18 mars 2023 · until 18 mars 2029

Active

Bernard Boon Falleur

Managing director · until 15 mars 2028

Active

Bettina Boon Falleur

Director · until 16 mars 2030

Active

France De Kinder

Director · until 15 mars 2028

Active

Thérèse Boon Falleur

Director · until 16 mars 2030

Active

Ended mandates

Bettina Boon Falleur

Director · since 17 mars 2018 · until 16 mars 2024

Ended

Thérèse Boon Falleur

Director · since 17 mars 2018 · until 16 mars 2024

Ended

Bernard Boon Falleur

Managing director · since 19 mars 2016 · until 15 mars 2022

Ended

France De Kinder

Director · since 19 mars 2016 · until 15 mars 2022

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates13/05/2024
DEMISSIONS, NOMINATIONS
PDF
Mandates20/10/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates07/04/2023
DEMISSIONS, NOMINATIONS
PDF
Other13/06/2022
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - DIVERS - ANNEE COMPTABLE
PDF
Other07/01/2022
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - DIVERS - OBJET - ANNEE COMPTABLE
PDF
Mandates25/06/2018
DEMISSIONS, NOMINATIONS
PDF
Mandates13/07/2016
DEMISSIONS, NOMINATIONS
PDF
Mandates06/06/2012
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 2025-1 M €↓
2024
Annual accounts 2024-58,6 k €↓
2023
Annual accounts 2023404,9 k €↓
2022
Annual accounts 2022483,3 k €↓
2021
Annual accounts 2021504,4 k €↑
2020
Annual accounts 2020-253,9 k €↓
2019
Annual accounts 20195,8 M €↑
2018
Annual accounts 2018-41 k €↑
2017
Annual accounts 2017-51,1 k €↓
2015
Annual accounts 2015-36,7 k €↓
2014
Annual accounts 2014-10 k €↓
2013
Annual accounts 2013200,2 k €↓
2012
Annual accounts 2012275,6 k €↑
2011
Annual accounts 2011132,1 k €↓
2010
Annual accounts 2010283,2 k €↑
2009
Annual accounts 2009219,2 k €↓
2008
Annual accounts 2008462,3 k €↑
2007
Annual accounts 2007459,4 k €↑
2006
Annual accounts 2006126,6 k €
27/11/2000
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

MERENA

Overview

What does MERENA do?

Trend over 19 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