MI-COM · Checked.be

Summary

Conclusion

the dossier summarised in one paragraph

The computed 12-month bankruptcy probability of MI-COM is 1.5% (moderate). The 2024 annual accounts show equity of €159k and a net result of €20k. Equity is growing by ~14.8% per year across the filed fiscal years. Its solvency ranks better than 91% of 11116 sector peers (fiscal year 2024). The company has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 6 annual accounts.

Signals

2 signals · with evidence

Strong solvency vs sector

Solvency is in the sector's strongest quartile: better than 91% of 11116 peers (2024). A comfortable equity buffer.

View the sector comparison

Consistently profitable

Positive net result in the two most recent financial years (2023 and 2024).

View the result trend

Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.

Filing behaviour

From the deposit records, complete market-wide

Deadline passed, not yet counted as missing

The deadline for the year that closed on 31-12-2025 passed on 31-07-2026, 15 days ago. Our copy of the deposit register trails the National Bank (measured: median 14 days, p99 45 days), so we only call this filing missing from 45 days past the deadline.

A punctual record breaks

This company filed 4 consecutive financial years on time. The year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 21-08-2025, 21 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.

How we compute the deadline

The year end is derived from 6 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2024, that is 31-07-2025.

Deadline per financial year

Year closed	Due by	Filed	Variance	Reference
31-12-2025	31-07-2026	nothing on record	not filed	-
31-12-2024	31-07-2025	21-08-2025	21 d late	2025-00411991
31-12-2023	31-07-2024	10-06-2024	51 d early	2024-00117611
31-12-2022	31-07-2023	26-07-2023	5 d early	2023-00272193
31-12-2021	31-07-2022	08-07-2022	23 d early	2022-20161384
31-12-2020	31-07-2021	02-07-2021	29 d early	2021-29800121
31-12-2019	31-07-2020	11-09-2020	42 d late	2020-52600035

Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

2 signals

More than 3 years active

Founded in 2018, past the statistically most fragile first 3 years.

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.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone

1.5% Moderate

0%0,5%1,5%4%10%≥25%

Higher-failure-rate sector +Multiple establishment units +Young company +

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Financials

TurnoverNot published (abbreviated filing)

EBIT marginNot published (abbreviated filing)

Net result€20k-87.0%

Working capital€83k+38.5%

CSV export

Annual accounts & ratios

Source: NBB · 2024

Annual accounts filed on 21-08-2025 with the NBB · fiscal year 2024 · micro

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

growing Equity: growth of ~14.8%/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 2024 · NACE 43, Specialised construction · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	79.5%	40.9%	better than 91% of 11116 sector peers
Net result	€20k	€11k	better than 64% of 11098 sector peers
Equity	€159k	€34k	better than 91% of 11119 sector peers
Gross operating margin	€58k	€35k	better than 67% of 11088 sector peers
Staff costs	€447	€24k	higher than 14% of 4052 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

Sector position over time

Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).

Solvency P91

Stable position over 2020-2024 · n=1737-11116

Net result P64

Stable position over 2020-2024 · n=1730-11098

Equity P91

Stable position over 2020-2024 · n=1739-11119

Gross operating margin P67

Improving position over 2020-2024 · n=1728-11088

Describes the position versus peers, not a forecast.

EBITDA

€52k

-76.1% 19-24

Net profit

€20k

-87.0% 19-24

Cash flow

€48k

-72.7% 19-24

Total assets

€200k

-59.4% 19-24

Equity

€159k

+14.7% 19-24

Working capital

€83k

+38.5% 19-24

Employees (FTE)

1

- 19-24

Staff costs

€447

-13.2% 19-24

Show 12 other metrics

Income taxes

€5k

-90.3% 19-24

Dividends

€0

-100.0% 19-24

Debt

€41k

-88.4% 19-24

Debt ≤ 1y

€17k

-94.6% 19-24

Debt > 1y

€24k

-28.4% 19-24

Current ratio

5.97

+400.3% 19-24

Quick ratio

3.57

+219.4% 19-24

Solvency

79.5%

+182.6% 19-24

Debt / equity

0.26

-89.9% 19-24

ROE

12.8%

-88.7% 19-24

ROA

10.2%

-68.1% 19-24

Interest coverage

46.64

-71.6% 19-24

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2024
Deposit	micro
Revenue	-
EBITDA	€52k
Net profit	€20k
Cash flow	€48k
Staff costs	€447
Income taxes	€5k
Dividends	€0
Total assets	€200k
Equity	€159k
Debt	€41k
of which ≤ 1y	€17k
of which > 1y	€24k
Working capital	€83k
Employees (FTE)	-

Ratios (computed)

	2024
Current ratio	5.97
Quick ratio	3.57
Working capital ratio	41.4%
Solvency	79.5%
Debt / equity	0.26
Long-term debt ratio	0.15
Interest coverage	46.64
Gross margin	-
Net margin	-
ROA	10.2%
ROE	12.8%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2024

Assets

Fixed assets €101k · 50.3% Current assets €99k · 49.7%

Equity & liabilities

Equity €159k · 79.5% Debt €41k · 20.5%

Full annual accounts (24 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2024
Balance sheet, Assets
TOTAL ASSETS	20/58	€200k
Fixed assets	21/28	€101k
Tangible fixed assets	22/27	€100k
Financial fixed assets	28	€250
Current assets	29/58	€99k
Stocks & contracts in progress	3	€40k
Amounts receivable within one year	40/41	€15k
Cash & bank	54/58	€41k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€200k
Equity	10/15	€159k
Contributions / capital	10/11	€19k
Accumulated profits (losses)	14	€140k
Amounts payable	17/49	€41k
Amounts payable after one year	17	€24k
Amounts payable within one year	42/48	€17k
Trade debts payable within one year	44	€6k
Income statement
Gross operating margin	9900	€58k
Operating result	9901	€25k
Financial income	75	€940
Financial charges	65	€1k
Result before taxes	9903	€25k
Income taxes	67/77	€5k
Net result for the period	9904	€20k
Result to be appropriated	9905	€20k

This table shows the latest fiscal year. 4 prior years, with figures and ratios, belong to a paid plan. See plans →

Ratios computed by Checked.

Health barometer

FY 2024 · computed

93 / 100 Excellent

050100

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.

The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.

See plans →

Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.

Structure & network

Locations & real estate

Registered office

from the Crossroads Bank

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Hertenstraat 29100 Sint-Niklaas

Establishment units

2 locations

MI-COM

Hertenstraat 2, 9100 Sint-NiklaasVervaardiging van hangsloten, grendelsloten en andere sloten, sleutels en ander hang- en sluitwerk voor gebouwen, meubels, voertuigen, enz

since 20182.276.516.952

Marktstraat(Mar) 51, 8510 Kortrijk

Vervaardiging van hangsloten, grendelsloten en andere sloten, sleutels en ander hang- en sluitwerk voor gebouwen, meubels, voertuigen, enz

since 20222.337.151.256

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Parcels2

Ground area329 m²

Buildings2

Building footprint174 m²

Volume (LiDAR)1,086 m³

Tallest building10.8 m · ±2 fl.

Real-estate footprint

Source: CBE × cadastre · address linking

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Flanders 2 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
46442C0588/00X002	Flanders	192 m²	1 · 90 m²	10.1 m · 2 fl.
34026A0356/00B002	Flanders	137 m²	1 · 84 m²	10.8 m · 2 fl.

Methodology

via registered seat: 1 · via establishment units: 1

2 of 2 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Publications

Lifecycle & Insolvency Signals

No insolvency signals in the Belgian State Gazette

Belgian State Gazette · acts

No structured acts for this company yet

That means one of two things: the company has published no company deeds, or its deeds are still queued for reading. The insolvency signals above come from a separate source; the KBO register is the second source and appears as the legal situation on this page.

Analysis

Snowflake analysis

financial profile on 5 axes

82 / 100

Exceptional profile, strong across almost every axis.

All 5 axes are computed from data Checked has read.

Health 93

Profitability 64

Solvency 100

Growth 52

Stability 100

Credit advice

verdict per customer and amount

Similar

Similar companies

Comparable size, same sector

AEBS

BE 0799.133.213 · Nijlen

Eq €159k→

NELTECH

BE 0779.768.152 · Hasselt

Eq €159k→

DB PRO CONSTRUCT

BE 0763.448.495 · Colfontaine

Eq €159k→

Domus Matica

BE 0783.934.303 · Tongeren-Borgloon

Eq €159k→

Giusti-Security

BE 0887.840.901 · Saint-Nicolas

Eq €159k→

We hold annual accounts for 3,244 of the 22,779 companies in this sector. 2,460 of them are within a factor 10 of this company's equity.

See full sector →

Company registry

Company registry (CBE)

Crossroads Bank

Activities

Elektrotechnische installatiewerken aan gebouwen43211Algemene elektrotechnische installatiewerken43211Elektrotechnische installatiewerken, uitgezonderd aan gebouwen43212Elektrotechnische installatiewerken van nijverheidsinrichtingen43212Overige werkzaamheden in verband met de afwerking van gebouwen43350Overige werkzaamheden in verband met de afwerking van gebouwen43390Dakwerkzaamheden43410Dakwerkzaamheden43910

Primary activity highlighted.

Names & trade names

Legal nameNL

MI-COM

Registered office

Hertenstraat 2

9100 Sint-Niklaas, Belgium

Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.