ACTIVE

MOREX

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Financial year 2025 · closed on 31/12/2025
Net result
66,8 €
-75.4% YoY
Gross margin
1,4 k €
-34.5% YoY
Equity
215,1 k €
+0.0% YoY

What does MOREX do?

MOREX is a Private company with limited liability incorporated in 2014. Its registered office is in Lasne.

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0568.589.056
Incorporation
30/12/2014
Legal form
Private company with limited liability
Registered office
Chemin de Bas-Ransbeck 5 box A
1380 Lasne · WallonieSee on map
Contributed capital
18 600,00 €
Latest accounts
31/12/2025
Signals
ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA
View the BCE/KBO Public Search record →
Health score
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✦ Verdict · Analyst summary
Financials

Trend over 9 financial years

202520242023202220212019201820172016
Income statement
Gross margin1,4 k €2,1 k €1,8 k €3 k €32 k €3,7 k €2,4 k €3 k €2,3 k €
EBITDA201,6 €784,8 €759,3 €2,2 k €31,2 k €2,9 k €1,7 k €2,3 k €1,6 k €
Operating result201,6 €784,8 €759,3 €2,2 k €31,2 k €2,9 k €1,7 k €2,3 k €1,6 k €
Net result66,8 €272 €-183,4 €2 k €20,6 k €1,8 k €1,1 k €1,5 k €1,2 k €
Balance sheet
Equity215,1 k €215 k €214,7 k €214,9 k €212,9 k €191,1 k €189,3 k €188,2 k €186,8 k €
Total assets218,4 k €217,9 k €217,9 k €219,4 k €226,4 k €194,7 k €192,5 k €192 k €190,9 k €
Cash39,4 k €39 k €37 k €38,1 k €45,2 k €7,9 k €6,6 k €4,1 k €5 k €
Debts3,3 k €2,9 k €3,2 k €4,5 k €13,5 k €3,6 k €3,2 k €3,8 k €4,2 k €
Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€
See the valuation
Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 5 ended

Active mandates

PATRICK MICHIELSEN

Director

Active
SYLVIANE MICHIELSEN

Director

Active

Ended mandates

JEANINE DE SMET

Director · since 01 décembre 2014

Ended
Jeannine DE SMET

Director · since 01 janvier 2014

Ended
Jeannine DE SMET

Manager · since 01 janvier 2014

Ended
PATRICK MICHIELSEN

Managing director

Ended
At this address

Other companies at this address

CompanyCBE no.
LRDC● Active
0660.730.544
Annual accounts

Full financial information

202520242023202220212020
Type of accountMicro modelMicro modelMicro modelMicro modelMicro modelMicro model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/01/2020
Closing of the financial year31/12/202531/12/202431/12/202331/12/202231/12/202131/12/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date30/08/202622/08/202528/08/202428/08/202301/09/202209/06/2021
General meeting30/06/202630/06/202530/06/202430/06/202305/05/202206/05/2021
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

11 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Micro model31/12/202530/06/202630/08/2026FrenchPDF
Micro model31/12/202430/06/202522/08/2025FrenchPDF
Micro model31/12/202330/06/202428/08/2024FrenchPDF
Micro model31/12/202230/06/202328/08/2023FrenchPDF
Micro model31/12/202105/05/202201/09/2022FrenchPDF
Micro model31/12/202006/05/202109/06/2021FrenchPDF
Micro model31/12/201907/05/202023/06/2020FrenchPDF
Micro model31/12/201802/05/201920/08/2019FrenchPDF
Micro model31/12/201703/05/201814/08/2018FrenchPDF
Abridged model31/12/201604/05/201717/08/2017FrenchPDF
Abridged model31/12/201506/05/201620/07/2016FrenchPDF
Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 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 · 2 active · 5 ended

Active mandates

PATRICK MICHIELSEN

Director

Active
SYLVIANE MICHIELSEN

Director

Active

Ended mandates

JEANINE DE SMET

Director · since 01 décembre 2014

Ended
Jeannine DE SMET

Director · since 01 janvier 2014

Ended
Jeannine DE SMET

Manager · since 01 janvier 2014

Ended
PATRICK MICHIELSEN

Managing director

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Mandates11/05/2022
    DEMISSIONS, NOMINATIONS
    PDF
  • Other26/01/2015
    RUBRIQUE CONSTITUTION (NOUVELLE PERSONNE MORALE, OUVERTURE SUCCURSALE, ETC...)
    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 202566,8 €↓
  2. 2024
    Annual accounts 2024272 €↑
  3. 2023
    Annual accounts 2023-183,4 €↓
  4. 2022
    Annual accounts 20222 k €↓
  5. 2021
    Annual accounts 202120,6 k €↑
  6. 2019
    Annual accounts 20191,8 k €↑
  7. 2018
    Annual accounts 20181,1 k €↓
  8. 2017
    Annual accounts 20171,5 k €↑
  9. 2016
    Annual accounts 20161,2 k €
  10. 30/12/2014
    IncorporationPrivate company with limited liability