Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Tight liquidity NBB
Cash and receivables cover 50 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
Geassocieerde Apotheek Merelbeke from Merelbeke-Melle, company number BE0863057104, closed financial year 2025 with a result of € 14,267 after tax. For that financial year Geassocieerde Apotheek Merelbeke recorded a gross margin of € 396,190 and equity of € 86,571. Compared with financial year 2024, the result moved from € 68,522 to € 14,267. The company is profitable. The buffer is growing. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on July 28, 2026.
€ 86,571
▲ 20% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 14,267
▼ 79% vs 2024
Profit after tax over the fiscal year.
€ 10,924
▲ 93% 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 € 66,571.
People and assets in 2025
3.8
▲ 0.3 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 342,644
▲ 9% vs 2024
€ 90,200 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.
Debts at end 2025
€ 178,575
▲ 33% vs 2024
€ 38,525 is repaid this year. At this pace the long-term loan is gone in ≈ 4 years.
€ 218,153
▲ 55% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 75,243
▲ 25% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 374,903 | € 385,848 | € 416,332 | € 396,190 | ▼ 5% |
| Profit after taxes | € 121,435 | € 67,087 | € 68,522 | € 14,267 | ▼ 79% |
| Equity | € -63,305 | € 3,782 | € 72,304 | € 86,571 | ▲ 20% |
| Total debts | € 341,561 | € 374,566 | € 334,868 | € 501,729 | ▲ 50% |
| Cash | € 52,244 | € 82,863 | € 5,672 | € 10,924 | ▲ 93% |
| Retained profit | € -83,305 | € -16,218 | € 52,304 | € 66,571 | ▲ 27% |
| Bank debt | € 0 | € 0 | € 134,474 | € 178,575 | ▲ 33% |
| Balance sheet total | € 278,255 | € 378,348 | € 407,172 | € 588,299 | ▲ 44% |
| Employees (FTE) | - | - | 3.5 | 3.8 | ▲ 0.3 |
Key figures of Geassocieerde Apotheek Merelbeke, 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 Geassocieerde Apotheek Merelbeke?
What happened at Geassocieerde Apotheek Merelbeke in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- A. Pirlot stepped down as director. NBB
- J. Mannaerts stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 14,267 (▼ 79% vs 2024). Source: NBB ↗
- A. Pirlot became a director. NBB
- J. Mannaerts became a director. NBB
- New establishment in Merelbeke-Melle. KBO
- Start of the company according to the CBE. KBO
In short
From € 121,435 profit in 2022 to € 14,267 profit in 2025.
Paid € 70,016 in corporate taxes since 2022.
Best year ever: 2022, with € 121,435 profit.
On average € 104,300 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 GEASSOCIEERDE APOTHEEK DHONDT, APOTHEEK DE KROON, GEASSOCIEERDE APOTHEEK MARKGRAVE comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
Geassocieerde Apotheek MerelbekeThe shares are held by GEASSOCIEERDE APOTHEEK DHONDT (90%), APOTHEEK DE KROON (5%) and GEASSOCIEERDE APOTHEEK MARKGRAVE (5%). It owns 0% of AFS itself.
Directors
According to the 2025 annual accounts
A. Pirlot
Director
Also active at: Apoteek't Groen Kruis, Sint-Gummarus Apotheek, AFS, Apotheek Clessens, Antwerp Port Pharmacy, APOTHEEK VAN BROEKHOVEN, GEASSOCIEERDE APOTHEEK EKEREN, GEASSOCIEERDE APOTHEEK VAN PUYVELDE +9 more
since 2024 · until 2030
J. Mannaerts
Director
Also active at: Geassocieerde Apotheek Plantijn, AFS, Apotheek Clessens, Antwerp Port Pharmacy, APOTHEEK VAN BROEKHOVEN, GEASSOCIEERDE APOTHEEK EKEREN, GEASSOCIEERDE APOTHEEK VAN PUYVELDE, GEASSOCIEERDE APOTHEEK VERBIST +7 more
since 2022 · until 2028
Shareholders
Participations
0%
Establishments
Establishment units
Physical locations of this company
Hundelgemsesteenweg 608
9820 Merelbeke-Melle
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
- 0863.057.104
- VAT number
- BE 0863.057.104
- Registered office
- Hundelgemsesteenweg 608, 9820 Merelbeke-Melle
- Names & denominations
- Geassocieerde Apotheek Merelbeke · G.A.M.
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 28 January 2004
- Peppol
- Active · Active since 1 Jan 2001
- Activities · NACE
Detailhandel in farmaceutische producten
Apothekers