Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Tight liquidity NBB
Cash and receivables cover 62 % of short-term debt in 2025; threshold 65 %.
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Figures corrected NBB
Corrected annual account filed for 2022.
Financials
Financial year 2025
MOERMAN from Tielt, company number BE0418959232, closed financial year 2025 with a result of € 247,018 after tax. For that financial year MOERMAN recorded revenue of € 11.2 million and equity of € 5.5 million. Compared with financial year 2024, the result moved from € 163,600 to € 247,018. Profitable, and profit is growing. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on August 31, 2026.
€ 5.5 million
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 247,018
▲ 51% vs 2024
Profit after tax over the fiscal year.
€ 32,932
▼ 66% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 220,000 paid out
89 % of the profit went to the shareholders, mostly to MECREA (60 % of the shares). That is where the money ends up.
People and assets in 2025
31.2
▲ 1 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 1.7 million
▲ 3% vs 2024
€ 54,700 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 149,108
▼ 30% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 5.4 million
▼ 7% vs 2024
€ 480,952 is repaid this year. At this pace the long-term loan is gone in ≈ 8 years.
€ 1.1 million
▼ 10% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 47 days on average.
€ 270,806
▼ 4% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 11,889,452 | € 11,994,947 | € 11,245,516 | € 11,185,150 | ▼ 1% |
| Profit after taxes | € 1,598,448 | € 354,871 | € 163,600 | € 247,018 | ▲ 51% |
| Equity | € 5,242,700 | € 5,447,571 | € 5,511,171 | € 5,538,188 | |
| Total debts | € 6,458,786 | € 7,854,117 | € 7,325,415 | € 6,900,387 | ▼ 6% |
| Cash | € 334,529 | € 268,479 | € 98,260 | € 32,932 | ▼ 66% |
| Land & buildings | € 3,737,797 | € 6,289,243 | € 6,402,410 | € 6,270,401 | ▼ 2% |
| Retained profit | € 3,615,926 | € 3,820,797 | € 3,884,397 | € 3,911,414 | ▲ 1% |
| Dividend | € 300,000 | € 150,000 | € 100,000 | € 220,000 | ▲ 120% |
| Bank debt | € 4,458,846 | € 6,108,917 | € 5,758,928 | € 5,352,976 | ▼ 7% |
| Balance sheet total | € 12,139,776 | € 13,734,748 | € 13,250,629 | € 12,834,893 | ▼ 3% |
| Employees (FTE) | 27.6 | 29.3 | 30.2 | 31.2 | ▲ 1 |
Key figures of MOERMAN, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to MOERMAN?
What happened at MOERMAN in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Serge BRAUN stepped down as director. NBB
- MECREA bv stepped down as director. NBB
- AGRIMAT nv stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 247,018 (▲ 51% vs 2024). filed late Source: NBB ↗
- Serge BRAUN became a director. NBB
- MECREA bv became a director. NBB
- AGRIMAT nv became a director. NBB
- New establishment in Tielt. KBO
In short
From € 1.6 million profit in 2022 to € 247,018 profit in 2025.
Paid € 346,029 in corporate taxes since 2022.
Best year ever: 2022, with € 1.6 million profit.
Paid out € 770,000 in dividends to the owners in total.
Management
The stake of MECREA, AGRIMAT comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
MOERMANThe shares are held by MECREA (60%) and AGRIMAT (40%).
Directors
According to the 2025 annual accounts
since 2022 · until 2028
Managing director · represented by Guy VANDE VYVERE
Also active at: WARO, VISION FUSED PRODUCTS, Vybros, VYMBROMO, IMMO BRUSH, P.D.C. BRUSH, LOUISE 475
since 2022 · until 2028
Managing director · represented by Lieselore DEPAEPE
Also active at: Vybros Real Estate, DEMOTRA, WARO, VISION FUSED PRODUCTS, VREMAC IMMO, MEGABO, VYREGA, HABLOVA +6 more
since 2022 · until 2028
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Schutterijstraat 25
8760 Tielt
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 1 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0418.959.232
- VAT number
- BE 0418.959.232
- Registered office
- Schutterijstraat 25, 8760 Tielt
- Names & denominations
- MOERMAN
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 14 December 1978
- Peppol
- Active · Active since 21 Oct 2026
- Activities · NACE
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