NORMAL SITUATION

MERULA

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Financial year 2026 · closed on 31/07/2026
Net result
87,8 k €
-57.7% YoY
Gross margin
117,6 k €
-60.3% YoY
Equity
117,7 k €
+293.7% YoY

Company — Normal situation.

Strike-off: 12 septembre 2026

What does MERULA do?

MERULA is a Private limited company incorporated in 2018.

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0694.908.592
Incorporation
19/04/2018
Legal form
Private limited company
Contributed capital
20 000,00 €
Latest accounts
31/07/2026
Signals
ProfitableSolid equityGood liquidityPositive cashflowPositive EBITDA
View the BCE/KBO Public Search record →
Health score
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✦ Verdict · Analyst summary
Financials

Trend over 6 financial years

202620252024202320222018
Income statement
Gross margin117,6 k €296,4 k €268,1 k €269,4 k €213,4 k €55,7 k €
EBITDA117,2 k €295,8 k €267,7 k €268,6 k €211,7 k €55,4 k €
Operating result117,2 k €273,8 k €245,8 k €247,9 k €195 k €55,4 k €
Net result87,8 k €207,9 k €188,5 k €193,9 k €147,2 k €49,1 k €
Balance sheet
Equity117,7 k €29,9 k €22 k €59,5 k €50,6 k €39,1 k €
Total assets126,6 k €243,4 k €266,6 k €253,9 k €194,5 k €80,9 k €
Cash124,4 k €196,5 k €183 k €153,2 k €174,8 k €30,9 k €
Debts8,9 k €213,5 k €242,6 k €194,4 k €143,9 k €41,8 k €
Other
Workforce––0,0 ETP–––
Governance

Board of directors

Seen on filing of 31/07/2026 · 1 active · 4 ended

Active mandates

Eric Demaerel

Director · since 01 janvier 2020

Active

Ended mandates

Manuel Demaerel

Director · since 23 décembre 2019

Ended
Eric Demaerel

Chairman of the board of directors · since 19 avril 2018

Ended
Eric Demaerel

Director · since 19 avril 2018

Ended
Eric Demaerel

Manager · since 19 avril 2018

Ended
Annual accounts

Full financial information

202620252024202320222021
Type of accountMicro modelMicro modelAbridged modelMicro modelMicro modelMicro model
Start of the financial year01/08/202501/08/202401/08/202301/08/202201/08/202101/08/2020
Closing of the financial year31/07/202631/07/202531/07/202431/07/202331/07/202231/07/2021
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date26/08/202617/12/202511/03/202522/01/202431/01/202328/01/2022
General meeting21/08/202611/12/202518/01/202520/01/202421/01/202315/01/2022
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

9 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Micro model31/07/202621/08/202626/08/2026DutchPDF
Micro model31/07/202511/12/202517/12/2025DutchPDF
Abridged model31/07/202418/01/202511/03/2025DutchPDF
Micro model31/07/202320/01/202422/01/2024DutchPDF
Micro model31/07/202221/01/202331/01/2023DutchPDF
Micro model31/07/202115/01/202228/01/2022DutchPDF
Micro model31/07/202016/01/202101/02/2021DutchPDF
Micro model31/07/201918/01/202022/01/2020DutchPDF
Micro model31/07/201819/01/201917/03/2019DutchPDF
Estimate

Indicative valuation

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 31/07/2026 · 1 active · 4 ended

Active mandates

Eric Demaerel

Director · since 01 janvier 2020

Active

Ended mandates

Manuel Demaerel

Director · since 23 décembre 2019

Ended
Eric Demaerel

Chairman of the board of directors · since 19 avril 2018

Ended
Eric Demaerel

Director · since 19 avril 2018

Ended
Eric Demaerel

Manager · since 19 avril 2018

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Dissolution15/09/2026
    STOPZETTING, INTREKKING STOPZETTING, NIETIGHEID, ENZ,
    PDF
  • Mandates30/05/2023
    WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
    PDF
  • Registered office30/07/2021
    MAATSCHAPPELIJKE ZETEL
    PDF
  • Other23/04/2018
    RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, ENZ...)
    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. 2026
    Annual accounts 202687,8 k €↓
  2. 2025
    Annual accounts 2025207,9 k €↑
  3. 2024
    Annual accounts 2024188,5 k €↓
  4. 2023
    Annual accounts 2023193,9 k €↑
  5. 2022
    Annual accounts 2022147,2 k €↑
  6. 2018
    Annual accounts 201849,1 k €
  7. 19/04/2018
    IncorporationPrivate limited company