MECARO
ActiveSummary
The annual accounts of MECARO for fiscal year 2025 show a net loss of 74% of the equity at the start of that year. The 2025 annual accounts show equity of €20k and a net result of €-59k. Equity is growing by ~3.5% per year across the filed fiscal years. Its solvency ranks better than 10% of 868 sector peers (fiscal year 2025). The company has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-32
Solvency30▼-28
Growth30▼-30
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity tight (current ratio 1.01 against 1.84 in 2024; short-term debt: 55.2% and cash: 0.1% of total assets), and 94.9% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 49
Relative position
BE, all sectors
reference
Land transport and transport via pipelines (NACE 49)
about 141% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
5.1%
Return on assets
-14.7%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-59k
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 10% of 868 sector peers (2025).
NBB · sector comparisonPosition among 868 sector peers
Solvency
better than 10%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 20-07-2026, 11 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
11 d early
2024
34 d early
2023
28 d early
2022
53 d early
2021
32 d early
2020
36 d early
2019
29 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Source amounts without an identifiable currency are assumed to be EUR.
Turnover
€885k▼ 2.4%
2020 · €907k
2018: €962khighest in 4 years
2019: €962k● 0.0% vs 2018highest in 4 years
2020: €907k▼ -5.7% vs 2019
2021: €885k▼ -2.4% vs 2020lowest in 4 years
2018 → 2021
EBIT margin
4.8%▲ 4.3pp
2020 · 0.5%
2018: -5.8%lowest in 4 years
2019: 0.8%▲ +114% vs 2018
2020: 0.5%▼ -37.3% vs 2019
2021: 4.8%▲ +826% vs 2020highest in 4 years
2018 → 2021
Net result
€-59k▼ 1,717%
2024 · €-3k
2018: €-57k
2019: €6k▲ +110% vs 2018
2020: €2k▼ -61.7% vs 2019
2021: €41k▲ +1758% vs 2020highest in 8 years
2022: €16k▼ -59.9% vs 2021
2023: €-28k▼ -270% vs 2022
2024: €-3k▲ +88.4% vs 2023
2025: €-59k▼ -1717% vs 2024lowest in 8 years
2018 → 2025
Working capital
€2k▼ 96.5%
2024 · €68k
2018: €15k
2019: €15k● 0.0% vs 2018
2020: €34k▲ +131% vs 2019
2021: €90k▲ +168% vs 2020
2022: €110k▲ +22.3% vs 2021highest in 8 years
2023: €82k▼ -25.5% vs 2022
2024: €68k▼ -17.6% vs 2023
2025: €2k▼ -96.5% vs 2024lowest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€885k-
Equity€94k-€111k▲ 17.5%€83k▼ 25.3%€80k▼ 3.9%€20k▼ 74.3%
2021: €94k
2022: €111k▲ +17.5% vs 2021highest in 5 years
2023: €83k▼ -25.3% vs 2022
2024: €80k▼ -3.9% vs 2023
2025: €20k▼ -74.3% vs 2024lowest in 5 years
Operating result€43k-€17k▼ 60.6%€-28k€-2k▲ 93.4%€-52k▼ 2,713%
2021: €43khighest in 5 years
2022: €17k▼ -60.6% vs 2021
2023: €-28k▼ -268% vs 2022
2024: €-2k▲ +93.4% vs 2023
2025: €-52k▼ -2713% vs 2024lowest in 5 years
Net result€41k-€16k▼ 59.9%€-28k€-3k▲ 88.4%€-59k▼ 1,717%
2021: €41khighest in 5 years
2022: €16k▼ -59.9% vs 2021
2023: €-28k▼ -270% vs 2022
2024: €-3k▲ +88.4% vs 2023
2025: €-59k▼ -1717% vs 2024lowest in 5 years
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €52k in 2025 against €2k in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €403k
Fixed assets
€178k ▲ 85.4%
Current assets
€225k ▲ 52.0%
Equity and liabilities €403k
Equity
€20k ▼ 74.3%
Debt
€383k ▲ 132%
Debt's share of the balance-sheet total rises from 67.4% to 94.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-25k▼
2024 · €2k
Cash flow
€-31k▼
2024 · €1k
Current ratio
1.01▼
2024 · 1.84
Debt to equity
18.74▲
2024 · 2.07
ROE
-289.3%▼
2024 · -4.1%
ROA
-14.7%▼
2024 · -1.3%
Interest coverage
-3.74▼
2024 · 1.76
Debt ≤ 1 year
€223k▲
2024 · €80k
Debt > 1 year
€160k▲
2024 · €84k
Staff costs
€130k▼
2024 · €143k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 42 lines
Balance sheet
Code20242025
Assets
Total assets20/58€244k€403k▲
Fixed assets21/28€96k€178k▲
Tangible fixed assets22/27€96k€178k▲
Leasing and similar rights25€96k€178k▲
Financial fixed assets28€540€675▲
Current assets29/58€148k€225k▲
Amounts receivable within one year40/41€147k€225k▲
Trade receivables40€147k€225k▲
Cash at bank and in hand54/58€906€486▼
Equity and liabilities
Total equity and liabilities10/49€244k€403k▲
Equity10/15€80k€20k▼
Contributions10/11€87k€87k=
Capital10€87k€87k=
Issued capital100€87k€87k=
Reserves13€9k€9k=
Non-distributable reserves130/1€9k€9k=
Legal reserve130€9k€9k=
Profit (loss) carried forward14€-16k€-75k▼
Amounts payable17/49€165k€383k▲
Amounts payable after more than one year17€84k€160k▲
Financial debts170/4€84k€160k▲
Amounts payable within one year42/48€80k€223k▲
Current portion of amounts payable after more than one year42€12k€27k▲
Trade debts44€44k€183k▲
Suppliers440/4€44k€183k▲
Taxes, remuneration and social security45€24k€13k▼
Taxes450/3€1k€637▼
Remuneration and social security454/9€22k€12k▼
Income statement
Code20242025
Non-recurring operating income76A€7k€3k▼
Remuneration, social security and pensions62€143k€130k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€4k€28k▲
Other operating charges640/8€2k€4k▲
Gross operating margin9900€147k€110k▼
Operating profit (loss)9901€-2k€-52k▼
Financial charges65/66B€1k€7k▲
Recurring financial charges65€1k€7k▲
Profit (loss) for the period before taxes9903€-3k€-59k▼
Profit (loss) for the period9904€-3k€-59k▼
Profit (loss) for the period to be appropriated9905€-3k€-59k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-16k€-75k▼
Profit (loss) brought forward from the previous period14P€-13k€-16k▼
Social balance
Average headcount (FTE)90874.44.5▲
The notes to these accounts (12 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | €899k | - | - | - | - | - |
| Turnover70 | €885k | - | - | - | - | - |
| Other operating income74 | €9k | - | - | - | - | - |
| Non-recurring operating income76A | €4k | - | €3k | €7k | €3k | ▼ 59.1% |
| Operating charges60/66A | €856k | - | - | - | - | - |
| Services and other goods61 | €684k | - | - | - | - | - |
| Remuneration, social security and pensions62 | €155k | €110k | €121k | €143k | €130k | ▼ 9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €14k | €4k | - | €4k | €28k | ▲ 542% |
| Other operating charges640/8 | €3k | €2k | €2k | €2k | €4k | ▲ 156% |
| Gross operating margin9900 | - | €132k | €95k | €147k | €110k | ▼ 25.4% |
| Operating profit (loss)9901 | €43k | €17k | €-28k | €-2k | €-52k | ▼ 2,713% |
| Financial income75/76B | - | €831 | €520 | - | - | - |
| Recurring financial income75 | - | €831 | €520 | - | - | - |
| Financial charges65/66B | €2k | €469 | €319 | €1k | €7k | ▲ 377% |
| Recurring financial charges65 | €2k | €469 | €319 | €1k | €7k | ▲ 377% |
| Debt charges650 | €2k | - | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €41k | €17k | €-28k | €-3k | €-59k | ▼ 1,717% |
| Income taxes67/77 | - | €740 | - | - | - | - |
| Profit (loss) for the period9904 | €41k | €16k | €-28k | €-3k | €-59k | ▼ 1,717% |
| Profit (loss) for the period to be appropriated9905 | €41k | €16k | €-28k | €-3k | €-59k | ▼ 1,717% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €171k | €169k | €121k | €244k | €403k | ▲ 65.1% |
| Fixed assets21/28 | €4k | €540 | €540 | €96k | €178k | ▲ 85.4% |
| Tangible fixed assets22/27 | €4k | - | - | €96k | €178k | ▲ 85.8% |
| Furniture and vehicles24 | €4k | - | - | - | - | - |
| Leasing and similar rights25 | - | - | - | €96k | €178k | ▲ 85.8% |
| Financial fixed assets28 | €540 | €540 | €540 | €540 | €675 | ▲ 25.0% |
| Other financial fixed assets284/8 | €540 | - | - | - | - | - |
| Amounts receivable and cash guarantees285/8 | €540 | - | - | - | - | - |
| Current assets29/58 | €166k | €168k | €121k | €148k | €225k | ▲ 52.0% |
| Amounts receivable within one year40/41 | €161k | €165k | €117k | €147k | €225k | ▲ 52.6% |
| Trade receivables40 | €161k | €165k | €117k | €147k | €225k | ▲ 52.6% |
| Cash at bank and in hand54/58 | €4k | €989 | €2k | €906 | €486 | ▼ 46.4% |
| Deferred charges and accrued income490/1 | €2k | €2k | €2k | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €171k | €169k | €121k | €244k | €403k | ▲ 65.1% |
| Equity10/15 | €94k | €111k | €83k | €80k | €20k | ▼ 74.3% |
| Contributions10/11 | €87k | €87k | €87k | €87k | €87k | = |
| Capital10 | €87k | €87k | €87k | €87k | €87k | = |
| Issued capital100 | €87k | €87k | €87k | €87k | €87k | = |
| Reserves13 | €15k | €24k | €9k | €9k | €9k | = |
| Non-distributable reserves130/1 | €9k | €9k | €9k | €9k | €9k | = |
| Legal reserve130 | €9k | €9k | €9k | €9k | €9k | = |
| Distributable reserves133 | €7k | €15k | - | - | - | - |
| Profit (loss) carried forward14 | €-8k | - | €-13k | €-16k | €-75k | ▼ 365% |
| Amounts payable17/49 | €76k | €58k | €39k | €165k | €383k | ▲ 132% |
| Amounts payable after more than one year17 | - | - | - | €84k | €160k | ▲ 89.9% |
| Financial debts170/4 | - | - | - | €84k | €160k | ▲ 89.9% |
| Amounts payable within one year42/48 | €76k | €58k | €39k | €80k | €223k | ▲ 177% |
| Current portion of amounts payable after more than one year42 | - | - | - | €12k | €27k | ▲ 116% |
| Trade debts44 | €56k | €43k | €22k | €44k | €183k | ▲ 313% |
| Suppliers440/4 | €56k | €43k | €22k | €44k | €183k | ▲ 313% |
| Taxes, remuneration and social security45 | €21k | €15k | €16k | €24k | €13k | ▼ 46.2% |
| Taxes450/3 | €940 | €2k | €1k | €1k | €637 | ▼ 41.1% |
| Remuneration and social security454/9 | €20k | €13k | €15k | €22k | €12k | ▼ 46.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €41k | €16k | €-28k | €-3k | €-59k | ▼ 1,717% |
| + Depreciation and write-downs630 | €14k | €4k | - | €4k | €28k | ▲ 542% |
| Operating cash flow (approximation) | €55k | €20k | €-28k | €1k | €-31k | ▼ 3,059% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €-100k | €-110k | ▼ 9.9% |
| Change in cash | - | €-3k | €767 | €-850 | €-420 | ▲ 50.6% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
20-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Weakest financial yearnet €-59k
Net result drops to €-59k, the lowest in the series.
27-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
03-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
08-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Equity above €100kEq €111k ▲17.5%
4 profitable years in a row build equity to €111k.
29-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Highest result since 2018net €41k ▲1,758%
Operating result €43k, net result €41k, both a record.
25-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
02-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Back to profitnet €6k
Net result €6k after one loss-making year.
05-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
22-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 22 days late
2017
09-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
5 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Dilsen-Stokkem · 1 establishment unit since 1992
Ground area
4.2 ha
Building footprint
1.7 ha
Volume, LiDAR
95,177 m³
Parcel 73043B0241/00H003, Flanders · tallest building 30.4 m, ±2 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
Vilvertstraat 11, 3650 Dilsen-Stokkem
since 19922.056.200.753
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 73043B0241/00H003 | Flanders | 4.2 ha | 1 · 1.7 ha | 30.4 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 4 entries · 2,029 EUR awarded · 2,029 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 874 EUR | 874 EUR |
| 2024 | 1 | 405 EUR | 405 EUR |
| 2023 | 1 | 375 EUR | 375 EUR |
| 2022 | 1 | 375 EUR | 375 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 12,590 companies in sector 49410 we hold annual accounts for 8,199. 5,005 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded03-12-1991
Fiscal year end31-12
Activities, NACEBEL 2025
49410Freight transport by road
Scores and ratios are computed by Checked and are not a credit decision.