ACTIVE

NERO

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Financial year 2025 · closed on 31/12/2025

Net result

232 k €

-72.8% YoY

Revenue

1,3 M €

-15.8% YoY

Equity

11,3 M €

+2.1% YoY

Workforce

4,4 ETP

+2.3% YoY

What does NERO do?

NERO is a Private limited company incorporated in 2007. Its registered office is in Aalter. It employs on average 4,4 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0890.464.453

Incorporation

29/06/2007

Legal form

Private limited company

Registered office

Stationsstraat 41
9880 Aalter · FlandreSee on map

Contributed capital

18 600,00 €

Latest accounts

31/12/2025

Average workforce

4,4 ETP

Joint committees (2)

Signals

ProfitableSolid equityLow riskPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

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✦ Verdict · Analyst summary

Financials

Trend over 17 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009
Income statement
Revenue	1,3 M €	-15.8%	1,5 M €	+8.4%	1,4 M €	+6.1%	1,3 M €	-33.6%	2 M €	+48.6%	1,3 M €		–		–		–		–		–		–		–		–		–		–		–
EBITDA	200,1 k €	-60.3%	503,7 k €	-59.8%	1,3 M €	+76.0%	711,6 k €	-70.5%	2,4 M €	-8.0%	2,6 M €	+777%	299,2 k €	-61.2%	770,9 k €	+152%	306,2 k €	+8.6%	282 k €	-57.9%	670 k €	+119%	305,2 k €	-69.9%	1 M €	+267%	276 k €	-32.4%	408,3 k €	+78.5%	228,7 k €	-36.2%	358,7 k €
Operating result	265,4 k €	-47.3%	503,7 k €	-57.6%	1,2 M €	+67.1%	710,3 k €	-70.5%	2,4 M €	-8.1%	2,6 M €	+784%	296,6 k €	-61.4%	768,3 k €	+151%	306,2 k €	+37.2%	223,2 k €	-81.3%	1,2 M €	+147%	482,6 k €	+53.7%	314 k €	+13.8%	276 k €	-31.9%	405,2 k €	+79.6%	225,6 k €	-36.0%	352,4 k €
Net result	232 k €	-72.8%	854 k €	+1.3%	842,7 k €	+36.7%	616,6 k €	-65.2%	1,8 M €	-5.8%	1,9 M €	+3044%	59,7 k €	-84.2%	378,4 k €	+584%	55,3 k €	-32.8%	82,2 k €	-98.0%	4,1 M €	+1271%	296,1 k €	+435%	55,3 k €	+950%	5,3 k €	-95.4%	115,2 k €	+33331%	344,6 €	+106%	-6 k €
Balance sheet
Equity	11,3 M €	+2.1%	11,1 M €	+8.3%	10,2 M €	+9.0%	9,4 M €	+7.0%	8,8 M €	+25.3%	7 M €	+36.7%	5,1 M €	+1.2%	5,1 M €	+8.1%	4,7 M €	+1.2%	4,6 M €	+1.8%	4,5 M €	+837%	484,9 k €	+157%	188,7 k €	+41.5%	133,4 k €	+4.1%	128,2 k €	+890%	12,9 k €	+6389%	199,5 €
Total assets	13,3 M €	+1.3%	13,1 M €	+2.3%	12,8 M €	-4.2%	13,4 M €	+0.2%	13,4 M €	-1.1%	13,5 M €	+19.1%	11,4 M €	+6.8%	10,6 M €	-1.3%	10,8 M €	+1.8%	10,6 M €	-1.6%	10,7 M €	+49.3%	7,2 M €	-9.9%	8 M €	+4.9%	7,6 M €	+31.2%	5,8 M €	+19.5%	4,9 M €	-1.4%	4,9 M €
Cash	78,3 k €	-20.8%	98,9 k €	-13.6%	114,5 k €	-83.1%	676 k €	+326%	158,7 k €	-48.1%	305,6 k €	+25.4%	243,7 k €	-58.6%	588,1 k €	-27.2%	808,2 k €	+4.3%	775 k €	+62.0%	478,5 k €	-33.5%	719,9 k €	+276%	191,5 k €	+142%	79,3 k €	-61.9%	208,2 k €	+1633%	12 k €	-82.4%	68,2 k €
Debts	2 M €	+0.6%	2 M €	-22.3%	2,5 M €	-37.1%	4 M €	-13.0%	4,6 M €	-29.6%	6,5 M €	+4.7%	6,2 M €	+11.9%	5,6 M €	-8.5%	6,1 M €	+2.3%	5,9 M €	-4.1%	6,2 M €	-7.6%	6,7 M €	-13.9%	7,8 M €	+4.2%	7,5 M €	+31.8%	5,7 M €	+17.2%	4,8 M €	+4.9%	4,6 M €
Other
Workforce	4,4 ETP	+2.3%	4,3 ETP	-8.5%	4,7 ETP	+4.4%	4,5 ETP	+4.7%	4,3 ETP	-10.4%	4,8 ETP	-11.1%	5,4 ETP	-8.5%	5,9 ETP	+1.7%	5,8 ETP	+9.4%	5,3 ETP	+8.2%	4,9 ETP	+2.1%	4,8 ETP	0.0%	4,8 ETP	0.0%	4,8 ETP	-4.0%	5,0 ETP	-13.8%	5,8 ETP	+28.9%	4,5 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

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

Active mandates

Karla Meerschman

Director

Active

Stijn Meerschman

Director

Active

Ended mandates

Karla Meerschman

Manager

Ended

Stijn Meerschman

Manager

Ended

At this address

Other companies at this address

Company	CBE no.
IMMECO● Active	0439.706.641
MEVACO BEHEER● Active	0427.139.795
MEVACO PROJECTS● Active	0877.324.616
PAPINGLO● Active	0478.920.672
WOESTIJNEGOED● Active	0848.263.515

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/07/2020	01/07/2019
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	30/06/2020
Length of the financial year	12 months	12 months	12 months	12 months	18 months	12 months
Filing date	28/07/2026	29/07/2025	24/07/2024	29/07/2023	29/07/2022	19/01/2021
General meeting	30/06/2026	30/06/2025	28/06/2024	30/06/2023	30/06/2022	21/12/2020
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

17 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	30/06/2026	28/07/2026	Dutch	PDF
Full model	31/12/2024	30/06/2025	29/07/2025	Dutch	PDF
Full model	31/12/2023	28/06/2024	24/07/2024	Dutch	PDF
Full model	31/12/2022	30/06/2023	29/07/2023	Dutch	PDF
Full model	31/12/2021	30/06/2022	29/07/2022	Dutch	PDF
Full model	30/06/2020	21/12/2020	19/01/2021	Dutch	PDF
Abridged model	30/06/2019	14/12/2019	27/12/2019	Dutch	PDF
Abridged model	30/06/2018	08/12/2018	28/12/2018	Dutch	PDF
Abridged model	30/06/2017	09/12/2017	29/12/2017	Dutch	PDF
Abridged model	30/06/2016	10/12/2016	30/12/2016	Dutch	PDF
Abridged model	30/06/2015	12/12/2015	29/12/2015	Dutch	PDF
Abridged model	31/03/2014	30/09/2014	24/10/2014	Dutch	PDF
Abridged model	31/03/2013	14/09/2013	04/11/2013	Dutch	PDF
Abridged model	31/03/2012	08/09/2012	30/10/2012	Dutch	PDF
Abridged model	31/03/2011	30/09/2011	08/11/2011	Dutch	PDF
Abridged model	31/03/2010	30/09/2010	24/11/2010	Dutch	PDF
Abridged model	31/03/2009	30/09/2009	26/11/2009	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 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 31/12/2025 · 2 active · 2 ended

Active mandates

Karla Meerschman

Director

Active

Stijn Meerschman

Director

Active

Ended mandates

Karla Meerschman

Manager

Ended

Stijn Meerschman

Manager

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Other07/08/2020
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - ALGEMENE VERGADERING - BOEKJAAR
PDF
Other23/07/2014
BOEKJAAR
PDF
Other10/07/2007
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

2025
Annual accounts 2025232 k €↓
2024
Annual accounts 2024854 k €↑
2023
Annual accounts 2023842,7 k €↑
2022
Annual accounts 2022616,6 k €↓
2021
Annual accounts 20211,8 M €↓
2020
Annual accounts 20201,9 M €↑
2019
Annual accounts 201959,7 k €↓
2018
Annual accounts 2018378,4 k €↑
2017
Annual accounts 201755,3 k €↓
2016
Annual accounts 201682,2 k €↓
2015
Annual accounts 20154,1 M €↑
2014
Annual accounts 2014296,1 k €↑
2013
Annual accounts 201355,3 k €↑
2012
Annual accounts 20125,3 k €↓
2011
Annual accounts 2011115,2 k €↑
2010
Annual accounts 2010344,6 €↑
2009
Annual accounts 2009-6 k €
29/06/2007
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

NERO

Overview

What does NERO do?

Trend over 17 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