Equity
€38,636 from €161,757 in 2022
Equity fell by 76% in 3 years.
MIBELSFA
Lifetime
16 annual accounts with figures on one time axispeak €63,328 (2011)
-€7,114▲ €12,214
lowest -€62,828 (2023)
-€9,522▲ €14,251
peak €161,757 (2022)
€38,636▼ 38.8%
€71,105▲ 11.4%
peak 0.5 FTE (2011)
-not published
Board1 name since 2009
1 directorSFAKIANAKIS, Michel
Documentsfilings and deeds
22-04-20268 days before the deadline
2025micro format
Gross margin from -€19,329 to -€7,114Loss of €9,522Dividend €15,000Equity from €63,157 to €38,636
Key points
from the 2025 annual accountsLosses
-€96,122 in three years
Every financial year from 2023 to 2025 closed with a loss. 2023 was the heaviest.
Filings
16 annual accounts since 2010
The last five annual accounts were filed 0 to 34 days before the end of the period.
Turnover not published (micro format)
Checked score
87
Excellent
Financially stronger than 19% of micro companies in computer programming and consultancy (NACE 62)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 25,933 companies (NACE 62, micro).
About 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.4%
01-2025: 0.4%● unchanged vs 12-2024
02-2025: 0.4%● unchanged vs 01-2025
03-2025: 0.4%● unchanged vs 02-2025
04-2025: 0.5%▲ +0.1 percentage points vs 03-2025highest value
05-2025: 0.2%▼ -0.3 percentage points vs 04-2025
06-2025: 0.2%● unchanged vs 05-2025
07-2025: 0.2%● unchanged vs 06-2025
08-2025: 0.2%● unchanged vs 07-2025
09-2025: 0.2%● unchanged vs 08-2025
10-2025: 0.2%● unchanged vs 09-2025
11-2025: 0.2%● unchanged vs 10-2025
12-2025: 0.2%● unchanged vs 11-2025
01-2026: 0.2%● unchanged vs 12-2025
02-2026: 0.2%● unchanged vs 01-2026
03-2026: 0.2%● unchanged vs 02-2026
04-2026: 0.2%● unchanged vs 03-2026
05-2026: 0.2%● unchanged vs 04-2026
06-2026: 0.2%● unchanged vs 05-2026
07-2026: 0.2%● unchanged vs 06-2026
08-2026: 0.2%● unchanged vs 07-2026
09-2026: 0.2%● unchanged vs 08-2026
10-2026: 0.1%▼ -0.1 percentage points vs 09-2026lowest value
11-2026: 0.1%● unchanged vs 10-2026lowest value
Financial strengthWeak
Score breakdown
raises risk
Loss of €9,522, the second in a row (financial year 2025)
lowers risk
Size: total assets €109,741
Sector: Computer programming, consultancy and related activities (NACE 62)
Liquidity: current ratio 1.51, cash €14,687
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 62, micro). It does better than 32% of them on solvency, 12% on liquidity, 12% on profitability and 17% on growth.
The bankruptcy probability was computed on 10-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 30-09-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 6,908 companies had the same profile as MIBELSFA has now. Each dot stands for 18 companies, two years later.
90.8%
were still trading
7.8%
stopped another way
1.1%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MIBELSFA itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 6,908 companies, not a prediction for MIBELSFA. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €3,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 1.51 (1.93 in 2024), above the usual 1.5. Short-term debt is 64.8% and cash 13.4% of total assets. However, 64.8% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
19202122232425
2019 to 2025 · latest year -€9,522
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 22-04-2026, 8 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
8 days early
2024
on the day
2023
32 days early
2022
34 days early
2021
23 days early
2020
44 days early
2019
35 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 25 days before the deadline. In the sector (NACE 62), the median for financial year 2024 was 9 days before the deadline, and 33% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The financial year that closed on 30-09-2026 is due by 30-04-2027. Nothing is late today. The company usually files around 7 April (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
30-09-2026 year end10-11-2026 today30-04-2027 deadline
Board and ownership
- SFAKIANAKIS, Michel 180 sharesdeed of 28-12-2023
- Yasmina VAN IMPE 6 sharesdeed of 28-12-2023
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0820005831
Change of role: SFAKIANAKIS, Michel, from manager to director
“Toute activité relative à la création de site Web pour particuliers et entreprises; Activité relative aux jeux…” (deed in French) · SFAKIANAKIS, Michel holds 180 shares · Yasmina VAN IMPE holds 6 shares · General meeting of 26-12-2023 · Gazette deed
First establishment
-, Les Huttes 4, Nivelles
Incorporation
published on 27-10-2009 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| MIBELSFA Nivelles | €109,741 | -€7,114 | 35.2% | - |
| M.A.L. ELECTRONICS Jette | €98,474 | -€1,074 | 31.6% | - |
| The Beaumont Holding Machelen (Brab.) | €108,588 | -€23,865 | 36.5% | - |
| SQR TECHNOLOGIES Beersel | €135,945 | -€14,687 | 35.7% | - |
| JOMIT Deinze | €143,030 | -€1,684 | 81.3% | - |
| Namic Bierbeek | €82,772 | -€1,789 | 62.7% | - |
| FlatTurtle Zaventem | €150,372 | -€26,114 | 8.2% | - |
These companies have the same main activity as MIBELSFA: other information technology and computer services (NACE 62900). They are comparable in size and age: total assets between €82,800 and €150,000, founded between 2009 and 2012.
Official details
Source: KBO- Status
- Active since 23-10-2009Normal situation
- Activity
- Other information technology and computer servicesNACE 62900and 2 others
- Establishment unit
- 2.182.193.2611400 Nivelles, since 29-10-2009
- Financial year end
- 30 September
- Peppol
- Reachable since 24-11-2025
Annual accounts to 30-09-2025
- €109,741▼ 13.6%
- Filing
- Filed on 22-04-2026, 8 days before the end of the filing period
Insights on MIBELSFA
MIBELSFA files the micro format. That format states no turnover. The gross margin fell from €36,493 in 2010 to -€7,114 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about MIBELSFA
- What is the company number of MIBELSFA?
- The company number of MIBELSFA is 0820.005.831. The VAT number is the same number with BE in front: BE 0820.005.831.
- Where is MIBELSFA based?
- The registered office is at Les Huttes 4, 1400 Nivelles.Company details
- What does MIBELSFA do?
- According to the KBO register, the main activity is other information technology and computer services (NACE 62900).
- What is the legal form of MIBELSFA?
- MIBELSFA is a private limited company (BV).
- When was MIBELSFA founded?
- MIBELSFA was founded on 23-10-2009.
- Is MIBELSFA still active?
- Yes, MIBELSFA is an active enterprise in the KBO register.
- What is the turnover of MIBELSFA?
- The annual accounts for financial year 2025 state no turnover. The micro format does not require it.Financials
- Is MIBELSFA profitable?
- In financial year 2025, MIBELSFA made a loss of €9,522.
- Where can I find the annual accounts of MIBELSFA?
- MIBELSFA filed 16 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of MIBELSFA due?
- MIBELSFA must file the annual accounts for financial year 2026 by 30-04-2027.Timeline
Next steps
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