Merlux
ActiveMerlux has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.17M and a net result of €263k. Equity is growing by ~29.1% per year across the filed fiscal years. Its solvency ranks better than 43% of 7689 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
89
/ 100
Excellent▲ +31 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100=
Solvency61▲+21
Growth78=
Stability100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €100k at 30 days acceptable
Liquidity tight (current ratio 1.09 against 0.64 in 2024), and 61.6% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six 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 43
Relative position
BE, all sectors
reference
Sector 43
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
38.4%
Return on assets
8.7%
Age of the figures
8 mo
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
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 21-08-2026, 21 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
21 d late
2024
1 d early
2023
210 d late
2022
31 d late
2021
33 d late
2020
89 d late
2019
on the day
← before the deadline
after the deadline →
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
15-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€1.17M▲ 29.2%
2024 · €902k
2018: €11k
2019: €41k
2020: €230k
2021: €501k
2022: €649k
2023: €814k
2024: €902k
2018 → 2025
Total assets
€3.03M▲ 4.0%
2024 · €2.92M
2018: €153k
2019: €216k
2020: €444k
2021: €834k
2022: €1.48M
2023: €2.95M
2024: €2.92M
2018 → 2025
Net result
€263k▲ 39.8%
2024 · €188k
2018: €11k
2019: €29k
2020: €198k
2021: €280k
2022: €206k
2023: €265k
2024: €188k
2018 → 2025
Working capital
€39k
2024 · €-192k
2018: €-33k
2019: €-3k
2020: €189k
2021: €341k
2022: €416k
2023: €89k
2024: €-192k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€501k-€649k▲ 29.6%€814k▲ 25.4%€902k▲ 10.8%€1.17M▲ 29.2%
Operating result€374k-€259k▼ 30.8%€391k▲ 51.3%€333k▼ 14.9%€455k▲ 36.7%
Net result€280k-€206k▼ 26.4%€265k▲ 28.5%€188k▼ 28.9%€263k▲ 39.8%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 37% above 2024 and is the highest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.03M
Fixed assets
€2.55M▼ 0.9%
Current assets
€485k▲ 40.7%
Equity and liabilities €3.03M
Equity
€1.17M▲ 29.2%
Debt
€1.87M▼ 7.3%
The debt ratio falls from 69.1% to 61.6%: equity grows while debt is paid down.
Key figures and ratios
EBITDA
€637k▲
2024 · €503k
Cash flow
€445k▲
2024 · €359k
Solvency
38.4%▲
2024 · 30.9%
Current ratio
1.09▲
2024 · 0.64
Quick ratio
1.09▲
2024 · 0.64
Debt / equity
1.60▼
2024 · 2.24
ROE
22.6%▲
2024 · 20.9%
ROA
8.7%▲
2024 · 6.5%
Interest coverage
7.35▲
2024 · 6.82
Debt
€1.87M▼
2024 · €2.02M
Debt ≤ 1 year
€445k▼
2024 · €537k
Debt > 1 year
€1.42M▼
2024 · €1.46M
Income taxes
€105k▲
2024 · €75k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€2.92M€3.03M▲
Fixed assets21/28€2.57M€2.55M▼
Tangible fixed assets22/27€2.57M€2.55M▼
Land and buildings22€2.13M€2.18M▲
Plant, machinery and equipment23€73k€53k▼
Furniture and vehicles24€78k€49k▼
Other tangible fixed assets26€293k€272k▼
Current assets29/58€345k€485k▲
Amounts receivable after more than one year29€50k€0▼
Trade receivables290€50k€0▼
Amounts receivable within one year40/41€78k€81k▲
Trade receivables40€78k€78k▼
Other amounts receivable41€24€3k▲
Current investments50/53€43k€64k▲
Cash at bank and in hand54/58€170k€333k▲
Deferred charges and accrued income490/1€3k€7k▲
Equity and liabilities
Total equity and liabilities10/49€2.92M€3.03M▲
Equity10/15€902k€1.17M▲
Contributions10/11€19k€19k=
Reserves13€883k€1.15M▲
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€882k€1.14M▲
Profit (loss) carried forward14€0€0=
Amounts payable17/49€2.02M€1.87M▼
Amounts payable after more than one year17€1.46M€1.42M▼
Financial debts170/4€1.46M€1.42M▼
Amounts payable within one year42/48€537k€445k▼
Current portion of amounts payable after more than one year42€167k€186k▲
Financial debts43€56k€0▼
Credit institutions430/8€6k€0▼
Other loans439€50k€0▼
Trade debts44€43k€10k▼
Suppliers440/4€43k€10k▼
Taxes, remuneration and social security45€143k€197k▲
Taxes450/3€143k€197k▲
Other amounts payable47/48€129k€53k▼
Accrued charges and deferred income492/3€20k€0▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€170k€182k▲
Other operating charges640/8€8k€55k▲
Gross operating margin9900€511k€692k▲
Operating profit (loss)9901€333k€455k▲
Financial income75/76B€4k€110▼
Recurring financial income75€4k€110▼
Financial charges65/66B€74k€87k▲
Recurring financial charges65€74k€87k▲
Profit (loss) for the period before taxes9903€263k€368k▲
Income taxes67/77€75k€105k▲
Profit (loss) for the period9904€188k€263k▲
Profit (loss) for the period to be appropriated9905€188k€263k▲
Appropriation of the result
Profit (loss) to be appropriated9906€188k€263k▲
Transfer to equity691/2€88k€263k▲
To other reserves6921€88k€263k▲
Profit to be distributed694/7€100k€0▼
Return on contributions (dividend)694€100k€0▼
The notes to these accounts (18 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
21-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 21 days late
2025
31-12
Financial
Equity above €1MEq €1.17M ▲29.2%
8 profitable years in a row build equity to €1.17M.
30-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
26-02
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 210 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 31 days late
2022
02-09
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 33 days late
2021
31-12
Financial
Highest result since 2018net €280k ▲41.4%
Net result €280k, the highest in the series.
31-12
Financial
Equity above €500kEq €501k ▲118%
4 profitable years in a row build equity to €501k.
28-10
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 89 days late
2020
31-12
Financial
Liquidity doublescurrent ratio 2.11
Current ratio from 0.98 to 2.11.
31-12
Financial
Equity above €200kEq €230k ▲461%
3 profitable years in a row build equity to €230k.
31-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 30 days late
2018
09-04
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Oudenaarde · 1 establishment unit since 2013
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Berchemweg 579700 OudenaardeGround area
2,929 m²
Building footprint
1,475 m²
Volume, LiDAR
7,645 m³
Parcel 45023A1480/00D000, Flanders · tallest building 26.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Merlux
since 20132.226.679.837
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 45023A1480/00D000 | Flanders | 2,929 m² | 1 · 1,475 m² | 26.4 m · 2 fl. |
Linked by address, not proof of ownership
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.
Similar companies · same sector, comparable size
RENOVATIE- & BOUWWERKEN VERMEIREN
BE 0881.537.186
Brecht · Eq €1.15M
E.S. SYSTEMS
BE 0697.973.594
Heusden-Zolder · Eq €1.15M
ACCESSOIRES ET MATERIEL DE PISCINES PRIVEES ET PUBLIQUES
BE 0419.194.804
Namur · Eq €1.15M
LUCAN
BE 0418.359.713
Wommelgem · Eq €1.19M
IMO-DECORS
BE 0425.479.018
Jette · Eq €1.20M
Of 7,247 companies in sector 43350 we hold annual accounts for 2,333. 818 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded29-11-2013
Fiscal year end31-12
Activities, NACEBEL
43350Other building finishing work
55204Guest rooms (bed and breakfast)
Sources
Crossroads Bank for EnterprisesNational Bank · 12 filingsAddress and cadastre registers
Data from official sources, last processed on 14-09-2026. Scores and ratios are computed by Checked and are not a credit decision.