NORMAL SITUATION

F.MERGAN

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Financial year 2025 · closed on 31/08/2025

Net result

112,3 k €

+4.1% YoY

Gross margin

222,1 k €

+17.6% YoY

Equity

294,6 k €

+61.5% YoY

Company — Normal situation.

Strike-off: 01 juillet 2026

What does F.MERGAN do?

F.MERGAN is a Private limited company incorporated in 2006.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0879.412.391

Incorporation

16/02/2006

Legal form

Private limited company

Contributed capital

50 200,00 €

Latest accounts

31/08/2025

Signals

ProfitableSolid equityGood liquidityPositive cashflowPositive EBITDA

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	222,1 k €	+17.6%	188,8 k €	+4.9%	180 k €	-8.7%	197,1 k €	+27.1%	155,1 k €	-15.9%	184,5 k €	+15.1%	160,2 k €	+3.5%	154,7 k €	-1.5%	157,1 k €	-6.6%	168,2 k €	-9.4%	185,7 k €	+5.4%	176,2 k €	+0.4%	175,5 k €	+11.0%	158,1 k €	+4.5%	151,4 k €	-5.9%	160,8 k €	+4.2%	154,4 k €	+9.6%	140,9 k €	-29.3%	199,4 k €
EBITDA	211,9 k €	+12.9%	187,7 k €	+4.6%	179,5 k €	+1.9%	176,2 k €	+16.9%	150,8 k €	-17.1%	181,9 k €	+63.8%	111,1 k €	-27.2%	152,6 k €	-0.4%	153,2 k €	-8.8%	168 k €	-7.9%	182,3 k €	+3.7%	175,9 k €	+1.2%	173,8 k €	+11.0%	156,5 k €	+4.5%	149,8 k €	-5.9%	159,2 k €	+4.1%	152,9 k €	+9.9%	139,2 k €	-29.7%	198,1 k €
Operating result	188,7 k €	+18.6%	159,1 k €	+5.4%	151 k €	+2.2%	147,8 k €	+35.6%	109 k €	-16.1%	129,9 k €	+112%	61,4 k €	+46.2%	42 k €	-56.0%	95,5 k €	-8.4%	104,2 k €	-12.5%	119,1 k €	+4.4%	114,1 k €	+0.6%	113,4 k €	+13.8%	99,6 k €	-1.9%	101,5 k €	-7.8%	110,1 k €	+2.5%	107,5 k €	+10.5%	97,2 k €	+35.2%	71,9 k €
Net result	112,3 k €	+4.1%	107,8 k €	-6.0%	114,7 k €	+2.1%	112,3 k €	+30.8%	85,8 k €	-9.6%	94,9 k €	+111%	44,9 k €	+39.9%	32,1 k €	-58.5%	77,4 k €	-5.0%	81,4 k €	-7.2%	87,8 k €	+12.1%	78,3 k €	+5.2%	74,4 k €	+12.5%	66,2 k €	-0.2%	66,3 k €	-15.8%	78,7 k €	+0.3%	78,5 k €	+20.2%	65,3 k €	+29.2%	50,5 k €
Balance sheet
Equity	294,6 k €	+61.5%	182,4 k €	+144%	74,6 k €	-0.4%	75 k €	+0.4%	74,7 k €	-0.2%	74,9 k €	-0.1%	74,9 k €	-0.1%	75 k €	-87.0%	575,8 k €	+22.9%	468,7 k €	+21.0%	387,3 k €	+29.3%	299,6 k €	+38.7%	215,9 k €	+45.1%	148,8 k €	+51.9%	98 k €	+151%	39,1 k €	-74.5%	153,4 k €	+46.3%	104,9 k €	+73.2%	60,5 k €
Total assets	370,2 k €	-27.9%	513,5 k €	-3.1%	530,2 k €	-7.0%	570 k €	+1.5%	561,8 k €	-6.9%	603,2 k €	+3.5%	583 k €	-2.9%	600,1 k €	-18.6%	737,3 k €	+11.8%	659,6 k €	+3.6%	636,4 k €	+11.3%	571,6 k €	+7.7%	530,7 k €	+5.2%	504,4 k €	+12.8%	447,1 k €	-24.8%	594,3 k €	+2.5%	579,9 k €	+6.8%	543,1 k €	+8.0%	502,9 k €
Cash	89,6 k €	-30.9%	129,6 k €	-11.8%	147 k €	+16.5%	126,2 k €	+53.9%	82 k €	+0.9%	81,3 k €	-28.9%	114,4 k €	+520%	18,4 k €	-85.4%	126 k €	+40.7%	89,5 k €	+48.7%	60,2 k €	+274%	16,1 k €	-37.0%	25,5 k €	+109%	12,2 k €	+259%	3,4 k €	-67.9%	10,6 k €	-72.7%	38,8 k €	+79.0%	21,7 k €	-57.6%	51,1 k €
Debts	75,6 k €	-77.2%	331,1 k €	-27.3%	455,6 k €	-8.0%	495 k €	+1.6%	487,1 k €	-7.8%	528,3 k €	+4.0%	508,1 k €	-3.3%	525,2 k €	+225%	161,5 k €	-15.4%	190,8 k €	-23.4%	249,1 k €	-8.4%	272 k €	-13.6%	314,8 k €	-11.5%	355,6 k €	+1.9%	349,1 k €	-37.1%	555,2 k €	+30.2%	426,5 k €	-2.7%	438,2 k €	-0.9%	442,3 k €

Governance

Board of directors

Seen on filing of 31/08/2025 · 1 active · 3 ended

Active mandates

Florence Horrickx

Mandate

Active

Ended mandates

Florence HOORICKX

Manager

Ended

Frédéric MERGAN

Director

Ended

Frédéric MERGAN

Manager

Ended

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	01/09/2024	01/09/2023	01/09/2022	01/09/2021	01/09/2020	01/09/2019
Closing of the financial year	31/08/2025	31/08/2024	31/08/2023	31/08/2022	31/08/2021	31/08/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	06/03/2026	27/03/2025	27/03/2024	27/03/2023	23/03/2022	24/03/2021
General meeting	02/03/2026	21/03/2025	26/03/2024	24/03/2023	15/03/2022	03/02/2021
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

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/08/2025	02/03/2026	06/03/2026	French	PDF
Micro model	31/08/2024	21/03/2025	27/03/2025	French	PDF
Micro model	31/08/2023	26/03/2024	27/03/2024	French	PDF
Micro model	31/08/2022	24/03/2023	27/03/2023	French	PDF
Micro model	31/08/2021	15/03/2022	23/03/2022	French	PDF
Micro model	31/08/2020	03/02/2021	24/03/2021	French	PDF
Micro model	31/08/2019	05/02/2020	24/02/2020	French	PDF
Micro model	31/08/2018	06/02/2019	29/03/2019	French	PDF
Micro model	31/08/2017	07/02/2018	26/02/2018	French	PDF
Abridged model	31/08/2016	01/02/2017	31/03/2017	French	PDF
Abridged model	31/08/2015	03/02/2016	29/02/2016	French	PDF
Abridged model	31/08/2014	04/02/2015	26/02/2015	French	PDF
Abridged model	31/08/2013	05/02/2014	28/03/2014	French	PDF
Abridged model	31/08/2012	06/02/2013	28/03/2013	French	PDF
Abridged model	31/08/2011	01/02/2012	28/03/2012	French	PDF
Abridged model	31/08/2010	27/12/2010	28/03/2011	French	PDF
Abridged model	31/08/2009	03/02/2010	26/03/2010	French	PDF
Abridged model	31/08/2008	04/02/2009	27/03/2009	French	PDF
Abridged model	31/08/2007	06/02/2008	28/03/2008	French	PDF

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 31/08/2025 · 1 active · 3 ended

Active mandates

Florence Horrickx

Mandate

Active

Ended mandates

Florence HOORICKX

Manager

Ended

Frédéric MERGAN

Director

Ended

Frédéric MERGAN

Manager

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates08/07/2026
DEMISSIONS, NOMINATIONS
PDF
Mandates27/05/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates30/01/2024
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - DEMISSIONS, NOMINATIONS
PDF
Mandates08/03/2017
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 2025112,3 k €↑
2024
Annual accounts 2024107,8 k €↓
2023
Annual accounts 2023114,7 k €↑
2022
Annual accounts 2022112,3 k €↑
2021
Annual accounts 202185,8 k €↓
2020
Annual accounts 202094,9 k €↑
2019
Annual accounts 201944,9 k €↑
2018
Annual accounts 201832,1 k €↓
2017
Annual accounts 201777,4 k €↓
2016
Annual accounts 201681,4 k €↓
2015
Annual accounts 201587,8 k €↑
2014
Annual accounts 201478,3 k €↑
2013
Annual accounts 201374,4 k €↑
2012
Annual accounts 201266,2 k €↓
2011
Annual accounts 201166,3 k €↓
2010
Annual accounts 201078,7 k €↑
2009
Annual accounts 200978,5 k €↑
2008
Annual accounts 200865,3 k €↑
2007
Annual accounts 200750,5 k €
16/02/2006
IncorporationPrivate 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

F.MERGAN

Overview

What does F.MERGAN do?

Trend over 19 financial years

Board of directors

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