MERLIN SOFTWARE
0779.548.517 · rovalta.com · 09/11/2026
ACTIVE
MERLIN SOFTWARE
Financial year 2025 · Closed on 31/12/2025
Net result-171,3 k €-1 020,6 %over 1 year
Gross margin540,5 k €+16,1 %over 1 year
Equity292,5 k €-36,9 %over 1 year
Workforce3,9 ETP-18,8 %over 1 year
Overview
Identity
Source · BCE/KBOMERLIN SOFTWARE is a Private limited company incorporated in 2021. Its main activity is: Other software publishing. Its registered office is in Chaudfontaine. It employs on average 3,9 ETP workers (FTE).
- Legal situation
- Normal situation
- BCE/KBO no. / VAT
- BE 0779.548.517
- Incorporation
- 30/12/2021
- Legal form
- Private limited company
- Registered office
- Rue Joseph Dupont 75
4053 Chaudfontaine · WallonieSee on map - Contributed capital
- 485 000,00 €
- Latest accounts
- 31/12/2025
- Average workforce
- 3,9 ETP
Activities (NACE)
Joint committees (1)
- 20000
Signals
Positive cashflowPositive EBITDAHealthy social debts
Financials
Source · NBB, 6 filingsTrend over 4 financial years
| 2025 | 2024 | 2023 | 2022 | ||||
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Gross margin | 540,5 k € | +16.1% | 465,7 k € | +385% | 96 k € | +2229% | 4,1 k € |
| EBITDA | 272 k € | +32.6% | 205,2 k € | +24286% | -848,4 € | +82.1% | -4,7 k € |
| Operating result | -144,2 k € | -10599448% | 1,4 € | +100% | -848,4 € | +82.1% | -4,7 k € |
| Net result | -171,3 k € | -1021% | -15,3 k € | -1400% | -1 k € | +79.2% | -4,9 k € |
| Balance sheet | |||||||
| Equity | 292,5 k € | -36.9% | 463,8 k € | +233% | 139,1 k € | -0.7% | 140,1 k € |
| Total assets | 1,8 M € | +4.9% | 1,7 M € | +163% | 665,3 k € | +329% | 155 k € |
| Cash | 45,7 k € | -76.1% | 190,9 k € | +1234% | 14,3 k € | -58.2% | 34,2 k € |
| Debts | 1,5 M € | +20.3% | 1,3 M € | +143% | 526,2 k € | +3429% | 14,9 k € |
| Other | |||||||
| Workforce | 3,9 ETP | -18.8% | 4,8 ETP | +100% | 2,4 ETP | – | |
Valuation
Indicative valuation
As an indication, this company is worth
between 500 k€ and 1 M€
See the valuationBoard of directors
Source · NBB, accounts to 31/12/20253 active · 1 ended
Active mandates
| Director | Mandates in this company | Period | Other mandatescurrentendedstruck offbankruptcies |
|---|---|---|---|
| Directorsince 21/03/2024 | |||
Guillaume Massart | Directorsince 16/07/2025 | ||
Sébastien Grutman | Directorsince 30/12/2021 |
Ended mandates
| Director | Mandates in this company | Period | Other mandatescurrentendedstruck offbankruptcies |
|---|---|---|---|
Clément Hannequart | Director30/12/2021 → 2024 accounts |
Other companies at this address
Rue Joseph Dupont 75 4053 Chaudfontaine| Company | CBE no. |
|---|---|
AQUILON● Active | 0682.783.889 |
BILLY Live● Active | 0750.543.339 |
BILLY Team● Active | 0762.704.466 |
BILLY.TECH● Active | 0543.450.814 |
BIOVICTA● Active | 0692.824.181 |
Comptarama Services● Active | 0668.491.633 |
DELISTA● Active | 0806.947.948 |
DevFinIT● Active | 0790.649.473 |
Gold Agency● Active | 0757.817.250 |
IMOQUAM● Active | 0843.690.657 |
LIVE INVEST● Active | 0563.993.335 |
PUR Architecture● Active | 0747.466.558 |
TRIMMO● Active | 0467.026.492 |
USOR Invest● Active | 0538.827.575 |
Financials
Full financial information
Source · NBB| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Type of account | Abridged model | Abridged model | Abridged model | Abridged model |
| Start of the financial year | 01/01/2025 | 01/01/2024 | 01/01/2023 | 30/12/2021 |
| Closing of the financial year | 31/12/2025 | 31/12/2024 | 31/12/2023 | 31/12/2022 |
| Length of the financial year | 12 months | 12 months | 12 months | 13 months |
| Filing date | 01/10/2026 | 30/09/2025 | 29/08/2024 | 24/10/2023 |
| General meeting | 09/09/2026 | 05/06/2025 | 27/06/2024 | 01/06/2023 |
| Currency of the financial year | EUR | EUR | EUR | EUR |
| NBB quality label | Satisfying controls | Satisfying controls | Satisfying controls | Satisfying controls |
Financial ratios
Source · NBBLooking for more information about this company?
Try for freeAnnual accounts filings
Source · NBB, 6 filings| Model | Closing | General meeting | Filed | Language | Document |
|---|---|---|---|---|---|
| Abridged modelCorrection | 31/12/2025 | 09/09/2026 | 01/10/2026 | French | |
| Abridged model | 31/12/2025 | 04/06/2026 | 31/08/2026 | French | |
| Abridged model | 31/12/2024 | 05/06/2025 | 30/09/2025 | French | |
| Abridged model | 31/12/2023 | 27/06/2024 | 29/08/2024 | French | |
| Abridged modelCorrection | 31/12/2022 | 01/06/2023 | 24/10/2023 | French | |
| Abridged model | 31/12/2022 | 01/06/2023 | 29/08/2023 | French |
Valuation
Indicative valuation
Order of magnitude
As an indication, this company is worth
between 500 k€ and 1 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.
Disclaimer
Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.
Directors & structure
Board of directors
Source · NBB, accounts to 31/12/20253 active · 1 ended
Active mandates
| Director | Mandates in this company | Period | Other mandatescurrentendedstruck offbankruptcies |
|---|---|---|---|
| Directorsince 21/03/2024 | |||
Guillaume Massart | Directorsince 16/07/2025 | ||
Sébastien Grutman | Directorsince 30/12/2021 |
Ended mandates
| Director | Mandates in this company | Period | Other mandatescurrentendedstruck offbankruptcies |
|---|---|---|---|
Clément Hannequart | Director30/12/2021 → 2024 accounts |
Ownership and network
Looking for more information about this company?
Try for freePublications
Belgian Official Gazette publications
Source · Belgian Official Gazette- Mandates27/10/2026DEMISSIONS, NOMINATIONS
- Mandates29/06/2026DEMISSIONS, NOMINATIONS - DIVERS
- Mandates13/03/2026DEMISSIONS, NOMINATIONS
- Registered office18/11/2024SIEGE SOCIAL
- Mandates29/03/2024STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS
- Other03/01/2022RUBRIQUE CONSTITUTION (NOUVELLE PERSONNE MORALE, OUVERTURE SUCCURSALE, ETC...)
Similar companies
Similar companies
A company's peers, by sector and size, are included in the Business plan.
See the Business planTimeline
Timeline
Source · CBE, NBB annual accountsYear
Identity
Incorporation
Name
Registered office
Annual accounts
Filings4 filings
Mandates
NOSHAQ PARTNERS
Guillaume Massart
Sébastien Grutman
Clément Hannequart
202120222023202420252026
MERLIN SOFTWARE
Rue Joseph Dupont 75, 4053 EmbourgRue le Marais 14, 4530 Villers-le-Bouillet
Director
Director
Director
Director
CurrentPlanned, not yet servedEndedAccounts filedToday
Registered offices
Source · NBB annual accounts, CBE| Registered address | Period | Source |
|---|---|---|
| Rue Joseph Dupont 75, 4053 EmbourgCurrent | accounts 2024 → 2025 | Accounts 2025 · 2026-00539943 |
| Rue le Marais 14, 4530 Villers-le-Bouillet | accounts 2022 → 2023 | Accounts 2023 · 2024-00388911 |
Company names
Source · NBB annual accounts, CBE| Name | Period | Source |
|---|---|---|
| MERLIN SOFTWARECurrent | accounts 2022 → 2025 | Accounts 2025 · 2026-00539943 |
Events
- 2025Annual accounts 2025-171,3 k €↓
- 2024Annual accounts 2024-15,3 k €↓
- 2023Annual accounts 2023-1 k €↑
- 2022Annual accounts 2022-4,9 k €
- 30/12/2021IncorporationPrivate limited company