Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Shrinking team NBB
FTE fell two years in a row, from 26.2 to 20.6.
Financials
Financial year 2025
MERGER from Tongeren-Borgloon, company number BE0432750157, closed financial year 2025 with a result of € 429,402 after tax. For that financial year MERGER recorded a gross margin of € 2 million and equity of € 2.9 million. Compared with financial year 2024, the result moved from € 742,006 to € 429,402. The company is profitable. The company holds a healthy buffer. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on June 18, 2026.
€ 2.9 million
▼ 6% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 429,402
▼ 42% vs 2024
Profit after tax over the fiscal year.
€ 753,595
▼ 60% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 600,000 paid out
More than the year’s profit went to the shareholders; reserves fell.
People and assets in 2025
20.6
▼ 0.8 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 1.1 million
€ 52,200 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.
€ 548,485
▲ 35% vs 2024
Of which on lease € 349,354.
Debts at end 2025
€ 231,885
▲ 129% vs 2024
€ 45,869 is repaid this year. At this pace the long-term loan is gone in ≈ 5 years.
€ 455,016
▼ 28% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 83,886
▲ 16% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 3,318,554 | € 2,314,776 | € 2,325,368 | € 1,975,987 | ▼ 15% |
| Profit after taxes | € 1,372,697 | € 354,509 | € 742,006 | € 429,402 | ▼ 42% |
| Equity | € 2,997,040 | € 2,951,549 | € 3,093,555 | € 2,922,957 | ▼ 6% |
| Total debts | € 1,668,454 | € 1,208,161 | € 1,432,001 | € 775,748 | ▼ 46% |
| Cash | € 1,756,639 | € 1,887,258 | € 1,887,917 | € 753,595 | ▼ 60% |
| Retained profit | € 2,642,290 | € 2,596,799 | € 2,738,805 | € 2,568,207 | ▼ 6% |
| Dividend | € 726,667 | € 400,000 | € 600,000 | € 600,000 | |
| Bank debt | € 130,234 | € 47,363 | € 101,188 | € 231,885 | ▲ 129% |
| Balance sheet total | € 4,665,494 | € 4,159,710 | € 4,525,556 | € 3,698,706 | ▼ 18% |
| Employees (FTE) | 27.6 | 26.2 | 21.4 | 20.6 | ▼ 0.8 |
Key figures of MERGER, 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 MERGER?
What happened at MERGER in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 429,402 (▼ 42% vs 2024). Source: NBB ↗
- Mokko became a director. NBB
- LR & CO became a director. NBB
- New establishment in Tongeren-Borgloon. KBO
- Start of the company according to the CBE. KBO
In short
From € 1.4 million profit in 2022 to € 429,402 profit in 2025.
Paid € 902,070 in corporate taxes since 2022.
Best year ever: 2022, with € 1.4 million profit.
On average € 95,900 of value added per employee in 2025.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The stake of Z31, Mokko, LR & CO comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
MERGERBehind MERGER are LR & CO and Mokko. The shares are held by Z31 (50%), Mokko (50%) and LR & CO (50%).
Establishments
Establishment units
Physical locations of this company
Gasthuisbosdreef 16 box 1
3700 Tongeren-Borgloon
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 2 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
- 0432.750.157
- VAT number
- BE 0432.750.157
- Registered office
- Gasthuisbosdreef 16 bus 1, 3700 Tongeren-Borgloon
- Names & denominations
- MERGER
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 2 December 1987
- Peppol
- Active · Active since 18 Aug 2025
- Activities · NACE
Schrijnwerk
Schrijnwerk van hout of van kunststof
Overige gespecialiseerde bouwactiviteiten, neg
Overige gespecialiseerde werkzaamheden in de bouw
Overige gespecialiseerde bouwwerkzaamheden
Vervaardiging van metalen constructiewerken en delen daarvan
Vervaardiging van metalen deuren en vensters
Vervaardiging van metalen constructiewerken en onderdelen daarvan
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