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 52 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
M12 from Gent, company number BE0650645118, closed financial year 2025 with a result of € 42,924 after tax. For that financial year M12 recorded a gross margin of € 233,882 and equity of € 139,122. Compared with financial year 2024, the result moved from € 77,002 to € 42,924. The company is profitable. 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 11, 2026.
€ 139,122
▲ 45% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 42,924
▼ 44% vs 2024
Profit after tax over the fiscal year.
€ 9,390
▼ 53% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 79,122.
People and assets in 2025
€ 144,825
Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 6,132
▼ 33% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 139,742
▼ 11% vs 2024
€ 18,152 is repaid this year. At this pace the long-term loan is gone in ≈ 8 years.
€ 69,606
▲ 79% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 37,320
▲ 39% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 207,257 | € 247,453 | € 263,883 | € 233,882 | ▼ 11% |
| Profit after taxes | € 618 | € 37,033 | € 77,002 | € 42,924 | ▼ 44% |
| Equity | € -17,837 | € 19,196 | € 96,198 | € 139,122 | ▲ 45% |
| Total debts | € 288,831 | € 261,321 | € 232,732 | € 246,668 | ▲ 6% |
| Cash | € 12,886 | € 21,989 | € 20,049 | € 9,390 | ▼ 53% |
| Retained profit | € -77,837 | € -40,804 | € 36,198 | € 79,122 | ▲ 119% |
| Bank debt | € 214,486 | € 185,547 | € 157,003 | € 139,742 | ▼ 11% |
| Balance sheet total | € 270,994 | € 280,517 | € 328,930 | € 385,790 | ▲ 17% |
Key figures of M12, 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 M12?
What happened at M12 in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 42,924 (▼ 44% vs 2024). filed late Source: NBB ↗
- George Merheb became a director. NBB
- Aagje Buekens became a director. NBB
- New establishment in Gent. KBO
- Elie Merheb became a director. NBB
- Start of the company according to the CBE. KBO
In short
From € 618 profit in 2022 to € 42,924 profit in 2025.
Paid € 13,852 in corporate taxes since 2022.
Best year ever: 2024, with € 77,002 profit.
Management
Behind M12 are Elie Merheb, George Merheb and Aagje Buekens.
Directors
According to the 2025 annual accounts
Elie Merheb
Director
since 2016
George Merheb
Director
since 2019
Aagje Buekens
Director
since 2016
Establishments
Establishment units
Physical locations of this company
Lammerstraat 12
9000 Gent
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0650.645.118
- VAT number
- BE 0650.645.118
- Registered office
- Lammerstraat 12, 9000 Gent
- Names & denominations
- M12
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 15 March 2016
- Peppol
- Active · Active since 10 Dec 2025
- Activities · NACE
Activiteiten van eetgelegenheden met beperkte bediening, muv mobiele eetgelegenheden
Activiteiten van eetgelegenheden met volledige bediening
Eetgelegenheden met beperkte bediening
Eetgelegenheden met volledige bediening
Catering van evenementen