Checked.be
Active
BE 0479.035.488Private limited company (pre-2019)
GARAGE MERINSKY
Lichtenberglaan 2002 ·3800 Sint-Truiden, Belgium· 23 yrs active
Sector: General maintenance and repair of cars and light vans (up to 3.5 tonnes)
(95311)
Conclusion
GARAGE MERINSKY has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.04M and a net result of €209k. Equity is growing by ~28.8% per year across the filed fiscal years. Its solvency ranks better than 31% of 39 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Based on the State Gazette, CBE and 4 annual accounts.
Key figures
| Equity | €1.04M |
| Net result | €209k |
| Staff (FTE) | 7.6 |
| Better than sector | 31% |
Financial profile
74
/ 100
Strong profile, led by profitability.
All 5 axes are computed from data Checked has read.
Health
66
Profitability
100
Solvency
25
Growth
78
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 2003, 23 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
66
/ 100
Healthy
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€70k
estimate, not credit advice
Score history
46
2022
20
2023
66
2024
66
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 1.05 (≥ 1.0)
+5
Quick ratio
Quick ratio 0.19 (< 0.6)
-5
Leverage
Debt/equity 4.37 (> 3.0)
-10
Profitability
ROE 20% (≥ 10%)
+10
Interest coverage
Interest coverage 3.5× (≥ 3×)
+8
Profit trend
Net profit up YoY
+5
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 31-08-2026 with the NBB · fiscal year 2025 · abbreviated schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~28.8%/year over 4 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 95, Repair and maintenance of computers, personal and household goods, and motor vehicles and motorcycles · compared within the same schema type (abbreviated schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 18.6% | 39.9% | |
| Net result | €209k | €70k | |
| Equity | €1.04M | €485k | |
| Gross operating margin | €841k | €415k | |
| Staff costs | €366k | €289k |
€456k
+49.9%
22-25
€209k
+103.3%
22-25
€330k
+47.2%
22-25
€5.56M
+3.5%
22-25
€1.04M
+25.3%
22-25
€158k
-33.7%
22-25
8
+8.6%
22-25
€366k
+9.1%
22-25
€4
+866.7%
22-25
€4.53M
-0.5%
22-25
€3.23M
+12.5%
22-25
€1.29M
-22.7%
22-25
1.05
-3.1%
22-25
0.19
-10.8%
22-25
18.6%
+21.1%
22-25
4.37
-20.6%
22-25
20.2%
+62.2%
22-25
3.8%
+96.4%
22-25
3.50
-7.3%
22-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Deposit | abbreviated schema | abbreviated schema | abbreviated schema | abbreviated schema |
| Revenue | - | - | - | - |
| EBITDA | €456k | €304k | €-20k | €179k |
| Net profit | €209k | €103k | €-202k | €22k |
| Cash flow | €330k | €224k | €-103k | €113k |
| Staff costs | €366k | €335k | €322k | €258k |
| Income taxes | €4 | - | €0 | - |
| Dividends | - | - | - | - |
| Total assets | €5.56M | €5.37M | €4.17M | €4.23M |
| Equity | €1.04M | €827k | €724k | €326k |
| Debt | €4.53M | €4.55M | €3.44M | €3.90M |
| of which ≤ 1y | €3.23M | €2.88M | €1.64M | €1.96M |
| of which > 1y | €1.29M | €1.67M | €1.81M | €1.94M |
| Working capital | €158k | €239k | €162k | €424k |
| Employees (FTE) | 7.6 | 7.0 | 7.0 | 6.4 |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Current ratio | 1.05 | 1.08 | 1.10 | 1.22 |
| Quick ratio | 0.19 | 0.21 | 0.20 | 0.20 |
| Working capital ratio | 2.8% | 4.4% | 3.9% | 10.0% |
| Solvency | 18.6% | 15.4% | 17.4% | 7.7% |
| Debt / equity | 4.37 | 5.50 | 4.76 | 11.98 |
| Long-term debt ratio | 1.25 | 2.02 | 2.49 | 5.97 |
| Interest coverage | 3.50 | 3.78 | -0.23 | 2.35 |
| Gross margin | - | - | - | - |
| Net margin | - | - | - | - |
| ROA | 3.8% | 1.9% | -4.8% | 0.5% |
| ROE | 20.2% | 12.5% | -27.8% | 6.6% |
| EBITDA margin | - | - | - | - |
| Days sales outstanding | - | - | - | - |
| Days payable outstanding | - | - | - | - |
| Inventory turnover | - | - | - | - |
| Days inventory (DSI) | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (26 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet, Assets | |||||
| TOTAL ASSETS | 20/58 | €5.56M | €5.37M | €4.17M | €4.23M |
| Fixed assets | 21/28 | €2.17M | €2.26M | €2.37M | €1.84M |
| Intangible fixed assets | 21 | €2k | €3k | €5k | €6k |
| Tangible fixed assets | 22/27 | €2.02M | €2.11M | €2.22M | €1.69M |
| Financial fixed assets | 28 | €144k | €144k | €144k | €144k |
| Current assets | 29/58 | €3.39M | €3.11M | €1.80M | €2.38M |
| Stocks & contracts in progress | 3 | €2.79M | €2.52M | €1.47M | €1.99M |
| Amounts receivable within one year | 40/41 | €326k | €375k | €190k | €229k |
| Cash & bank | 54/58 | €255k | €202k | €127k | €147k |
| Balance sheet, Equity & liabilities | |||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €5.56M | €5.37M | €4.17M | €4.23M |
| Equity | 10/15 | €1.04M | €827k | €724k | €326k |
| Contributions / capital | 10/11 | €483k | €483k | €483k | €483k |
| Reserves | 13 | €480k | €451k | €423k | €416k |
| Accumulated profits (losses) | 14 | €-462k | €-672k | €-775k | €-573k |
| Amounts payable | 17/49 | €4.53M | €4.55M | €3.44M | €3.90M |
| Amounts payable after one year | 17 | €1.29M | €1.67M | €1.81M | €1.94M |
| Amounts payable within one year | 42/48 | €3.23M | €2.88M | €1.64M | €1.96M |
| Trade debts payable within one year | 44 | €2.94M | €2.71M | €1.38M | €1.69M |
| Income statement | |||||
| Gross operating margin | 9900 | €841k | €664k | €756k | €456k |
| Operating result | 9901 | €335k | €183k | €-118k | €88k |
| Financial income | 75 | €5k | €856 | €6k | €10k |
| Financial charges | 65 | €130k | €80k | €85k | €76k |
| Result before taxes | 9903 | €209k | €103k | €-202k | €22k |
| Income taxes | 67/77 | €4 | - | €0 | - |
| Net result for the period | 9904 | €209k | €103k | €-202k | €22k |
| Result to be appropriated | 9905 | €209k | €103k | €-202k | €22k |
Legal Structure
| NACE primary | General maintenance and repair of cars and light vans (up to 3.5 tonnes)(95311) |
| Legal form | Private limited company (pre-2019)(015) |
| Incorporation | 08-01-2003 |
| Status | Active |
| Postal code | 3800 |
Establishment units
GARAGE MERINSKY
since 20032.114.820.823
Real-estate footprint
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71353I0011/00E000 | Flanders | 6,248 m² | 1 · 2,173 m² | 13.9 m · 2 fl. |
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 31 days late
2025
31-12
Financial
Highest result since 2022net €209k ▲103%
Operating result €335k, net result €209k, both a record.
31-12
Financial
Equity above €1MEq €1.04M ▲25.3%
2 profitable years in a row build equity to €1.04M.
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 29 days late
2024
31-12
Financial
Back to profitnet €103k
Net result €103k after one loss-making year.
30-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 91 days late
2023
31-12
Financial
Weakest financial yearnet €-202k ▼1033%
Net result drops to €-202k, the lowest in the series; recovery starts the following year.
31-12
Financial
Equity above €500kEq €724k ▲122%
Equity rises from €326k to €724k.
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
18-10
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 79 days late
2021
28-10
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 89 days late
2020
30-09
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 61 days late
2019
20-09
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 51 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 31 days late
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 29 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
Retail sale of cars and light vans (up to 3.5 tonnes)47811General maintenance and repair of cars and light vans (up to 3.5 tonnes)953115010350200
Names & trade names
| Legal nameNL | GARAGE MERINSKY |
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