Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Two loss years in a row NBB
Negative result in 2025 and 2026.
-
Tight liquidity NBB
Cash and receivables cover 57 % of short-term debt in 2026; threshold 65 %.
Financials
Financial year 2026
Menerga from Aarschot, company number BE0463715131, closed financial year 2026 with a result of € -245,882 after tax. For that financial year Menerga recorded a gross margin of € 1.5 million and equity of € 399,713. Compared with financial year 2025, the result moved from € -270,940 to € -245,882. The company made a loss. The company holds a healthy buffer. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on October 15, 2026.
€ 399,713
▼ 38% vs 2025
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -245,882
▲ 9 % less loss than in 2025
Profit after tax over the fiscal year.
€ 552,534
▲ 236% vs 2025
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -680,853.
People and assets in 2026
14.9
▼ 0.8 vs 2025
Average over the fiscal year, from the social balance sheet.
€ 1.4 million
▼ 2% vs 2025
€ 90,600 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.
€ 199,954
▲ 11% vs 2025
Book value of vehicles, furniture and equipment.
Debts at end 2026
€ 127,956
▼ 20% vs 2025
€ 32,004 is repaid this year. At this pace the long-term loan is gone in ≈ 4 years.
€ 207,732
▼ 17% vs 2025
Supplier invoices still open on the last day of the fiscal year.
€ 372,140
▲ 39% vs 2025
Taxes, VAT and social contributions still to pay.
| 2023 | 2024 | 2025 | 2026 | Change 2025 → 2026 | |
|---|---|---|---|---|---|
| Gross margin | € 1,385,112 | € 1,096,613 | € 1,448,828 | € 1,467,840 | ▲ 1% |
| Profit after taxes | € 134,219 | € -454,392 | € -270,940 | € -245,882 | ▲ € 25,058 |
| Equity | € 370,927 | € -83,466 | € 645,594 | € 399,713 | ▼ 38% |
| Total debts | € 2,389,399 | € 2,883,203 | € 2,218,042 | € 3,050,386 | ▲ 38% |
| Cash | € 198,591 | € 147,230 | € 164,562 | € 552,534 | ▲ 236% |
| Land & buildings | € 1,160,969 | € 1,103,629 | € 1,051,147 | € 1,007,023 | ▼ 4% |
| Retained profit | € 290,361 | € -164,031 | € -434,971 | € -680,853 | ▼ € 245,882 |
| Bank debt | € 257,231 | € 203,699 | € 159,960 | € 127,956 | ▼ 20% |
| Balance sheet total | € 2,793,575 | € 2,835,243 | € 2,907,998 | € 3,489,043 | ▲ 20% |
| Employees (FTE) | 13.6 | 14.4 | 15.7 | 14.9 | ▼ 0.8 |
Key figures of Menerga, fiscal years 2023 to 2026, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2027) expected before 30 November 2027.
What happened to Menerga?
What happened at Menerga in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Augustyniak Arkadiusz stepped down as director. NBB
- Ralf Milz stepped down as director. NBB
- STRO BV stepped down as director. NBB
- New annual accounts for financial year 2026: loss of € 245,882. Source: NBB ↗
- Niall Horgan stepped down as director. NBB
- Augustyniak Arkadiusz became a director. NBB
- EMX BV stepped down as director. NBB
- Ralf Milz became a director. NBB
In short
From € 134,219 profit in 2023 to € 245,882 loss in 2026.
Paid € 1,597 in corporate taxes since 2023.
Best year ever: 2023, with € 134,219 profit.
On average € 98,500 of value added per employee in 2026.
Management
It owns 100% of Menerga itself.
Directors
According to the 2026 annual accounts
Niall Horgan
Director
since 2022 · until 2026
Augustyniak Arkadiusz
Director
since 2026 · until 2032
Managing director · represented by Johan Verplaetsen
since 2021 · until 2026
Ralf Milz
Director
since 2026 · until 2032
Kurt Helmut Maurer
Director
since 2022 · until 2026
Managing director · represented by Steve Jean-Paul Robijn
since 2026 · until 2032
Establishments
Establishment units
Physical locations of this company
Nieuwlandlaan 133
3200 Aarschot
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.
Website
Technologies
Hosting & Email
Email provider
Self-hosted
Hosting
MICROSOFT-CORP-MSN-AS-BLOCK - Microsoft Corporation, US
Website info
Features
Security
Details
- Company number
- 0463.715.131
- VAT number
- BE 0463.715.131
- Registered office
- Nieuwlandlaan 133, 3200 Aarschot
- Names & denominations
- Menerga
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 6 July 1998
- Peppol
- Active · Active since 24 Nov 2023
- Contact
- menerga.be
- Activities · NACE
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