Checked.be
Active
BE 0656.640.708Private limited company (pre-2019)
EL MIKAT
Maria-Christinastraat 43 ·1020 Brussel, Belgium· 10 yrs active
Sector: Travel agency activities
(79110)
Conclusion
The computed 12-month bankruptcy probability of EL MIKAT is 3.2% (moderate). The 2023 annual accounts show equity of €65k and a net result of €13k. Equity is growing by ~101.4% per year across the filed fiscal years. Its solvency ranks better than 58% of 576 sector peers (fiscal year 2023). The company has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals.
Based on the State Gazette, CBE and 6 annual accounts.
Key figures
| Equity | €65k |
| Net result | €13k |
| Better than sector | 58% |
| Active | 10 yrs |
Financial profile
88
/ 100
Exceptional profile, strong across almost every axis.
All 5 axes are computed from data Checked has read.
Health
81
Profitability
100
Solvency
74
Growth
85
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Established
Founded in 2016, 10 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
81
/ 100
Excellent
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€5k
estimate, not credit advice
Score history
15
2018
35
2019
41
2020
63
2021
71
2022
81
2023
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 1.07 (≥ 1.0)
+5
Quick ratio
Quick ratio 1.07 (≥ 1.0)
+5
Leverage
Debt/equity 1.03 (< 2.0)
+3
Profitability
ROE 20% (≥ 10%)
+10
Interest coverage
Interest coverage 3.2× (≥ 3×)
+8
Profit trend
Net profit down YoY
-3
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2023. Indicative, not credit advice.
Financial overview
Annual accounts filed on 29-01-2025 with the NBB · fiscal year 2023 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~101.4%/year over 6 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2023 · NACE 79, Travel agency, tour operator and other reservation service and related activities · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 49.3% | 39.2% | |
| Net result | €13k | €7k | |
| Equity | €65k | €57k | |
| Gross operating margin | €21k | €28k | |
| Total assets | €131k | €193k |
€829k
+117.3%
18-23
€21k
-36.2%
18-23
€13k
-54.1%
18-23
€13k
-54.6%
18-23
€131k
+19.9%
18-23
€65k
+25.7%
18-23
€5k
-
18-23
€1k
-10.0%
18-23
€67k
+14.7%
18-23
€67k
+14.7%
18-23
1.07
+25.6%
18-23
1.07
+25.6%
18-23
49.3%
+4.9%
18-23
1.03
-8.8%
18-23
20.5%
-63.5%
18-23
10.1%
-61.7%
18-23
3.5%
+33.7%
18-23
4.0%
+24.3%
18-23
3.19
-77.0%
18-23
Figures by fiscal year and ratios
Change versus the prior fiscal year, coloured by direction (green = favourable).
| Fiscal year | 2023 Δ | 2022 Δ | 2021 Δ | 2020 Δ | 2019 Δ |
|---|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | micro schema | micro schema |
| Revenue | - | +117.3% | +274.0% | -66.4% | - |
| EBITDA | -36.2% | +170.1% | +10.4% | +93.1% | - |
| Net profit | -54.1% | +190.4% | - | +33.6% | - |
| Cash flow | -54.6% | +176.7% | - | +34.9% | - |
| Staff costs | - | - | - | - | - |
| Income taxes | -10.0% | - | - | - | - |
| Dividends | - | - | - | - | - |
| Total assets | +19.9% | +35.9% | -3.8% | +5.2% | - |
| Equity | +25.7% | +127.5% | +78.3% | +221.2% | - |
| Debt | +14.7% | +0.1% | -18.4% | -6.0% | - |
| of which ≤ 1y | +14.7% | +0.1% | -18.4% | -6.0% | - |
| of which > 1y | - | - | - | - | - |
| Working capital | - | +77.3% | +21.8% | +25.7% | - |
| Employees (FTE) | - | - | - | - | - |
Ratios (computed)
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Current ratio | 1.07 | 0.85 | 0.35 | 0.32 | 0.14 |
| Quick ratio | 1.07 | 0.85 | 0.35 | 0.32 | 0.14 |
| Working capital ratio | 3.6% | -7.8% | -46.9% | -57.8% | -81.8% |
| Solvency | 49.3% | 47.0% | 28.0% | 15.1% | 5.0% |
| Debt / equity | 1.03 | 1.13 | 2.57 | - | - |
| Long-term debt ratio | - | - | - | - | - |
| Interest coverage | 3.19 | 13.90 | 7.63 | - | - |
| Gross margin | - | 4.0% | 0.6% | - | - |
| Net margin | - | 3.5% | 2.6% | -17.0% | -8.6% |
| ROA | 10.1% | 26.3% | 12.3% | -20.6% | -32.7% |
| ROE | 20.5% | 56.1% | 43.9% | -136.1% | -658.5% |
| EBITDA margin | - | 4.0% | 3.2% | 10.8% | 1.9% |
| Days sales outstanding | - | 5d | 11d | 60d | 4d |
| Days payable outstanding | - | 1d | 2d | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2023
Full annual accounts (24 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €131k | €110k | €81k | €84k | €80k |
| Fixed assets | 21/28 | €60k | €60k | €61k | €61k | €69k |
| Formation expenses | 20 | - | - | €0 | €159 | €542 |
| Tangible fixed assets | 22/27 | €91 | €129 | €525 | €1k | €2k |
| Financial fixed assets | 28 | €60k | €60k | €60k | €60k | €67k |
| Current assets | 29/58 | €71k | €50k | €20k | €23k | €11k |
| Amounts receivable within one year | 40/41 | €28k | €17k | €16k | €17k | €3k |
| Cash & bank | 54/58 | €44k | €32k | €4k | €6k | €3k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €131k | €110k | €81k | €84k | €80k |
| Equity | 10/15 | €65k | €52k | €23k | €13k | €4k |
| Contributions / capital | 10/11 | €30k | €30k | €30k | €30k | €30k |
| Accumulated profits (losses) | 14 | €35k | €22k | €-7k | €-17k | €-26k |
| Amounts payable | 17/49 | €67k | €58k | €58k | €71k | €76k |
| Amounts payable within one year | 42/48 | €67k | €58k | €58k | €71k | €76k |
| Trade debts payable within one year | 44 | €66k | €2k | €3k | €501 | €2k |
| Income statement | ||||||
| Turnover | 70 | - | €829k | €381k | €102k | €304k |
| Gross operating margin | 9900 | €21k | €33k | €12k | €11k | €10k |
| Operating result | 9901 | €21k | €33k | €12k | €10k | €5k |
| Financial income | 75 | €0 | - | - | - | - |
| Financial charges | 65 | €7k | €2k | €2k | €1k | €3k |
| Result before taxes | 9903 | €14k | €30k | €10k | €9k | €1k |
| Income taxes | 67/77 | €1k | €1k | - | - | - |
| Net result for the period | 9904 | €13k | €29k | €10k | €9k | €1k |
| Result to be appropriated | 9905 | €13k | €29k | €10k | €9k | €1k |
Legal Structure
| NACE primary | Travel agency activities(79110) |
| Legal form | Private limited company (pre-2019)(015) |
| Incorporation | 14-06-2016 |
| Status | Active |
| Postal code | 1020 |
Establishment units
EL MIKAT
since 20162.253.701.760
Real-estate footprint
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21815D0224/00Y002 | Brussels | 57 m² | 1 · 56 m² | 16.0 m · 5 fl. |
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
2025
29-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 182 days late
2023
30-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 152 days late
2022
31-12
Financial
Highest result since 2018net €29k ▲190%
Operating result €33k, net result €29k, both a record.
29-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 151 days late
2021
31-12
Financial
Back to profitnet €10k
Net result €10k after 3 loss-making years.
28-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 150 days late
15-03
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 227 days late
2020
10-03
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 223 days late
2018
27-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 27 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
Travel agency activities79110Travel agency, tour operator and other reservation service and related activities79120
Names & trade names
| Legal nameFR | EL MIKAT |
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