Equity
€78,138 ▲ 22.9%
MICALE has made a profit in every financial year since 2023.
MICALE
Lifetime
3 annual accounts with figures on one time axispeak €98,108 (2023)
€20,233▼ 58.6%
peak €14,564 (2025)
€14,564▲ 320%
peak €78,138 (2025)
€78,138▲ 22.9%
€142,642▼ 5.7%
Board2 names since 2022
2 directorsDECLERCK Michaël and 1 other
Documentsfilings and deeds
31-08-202631 days late
2025micro format
Gross margin from €48,930 to €20,233Result from €3,469 to €14,564Equity from €63,575 to €78,138
Key points
from the 2025 annual accountsChecked score
55
Fair
Financially stronger than 51% of micro companies in retail trade (NACE 47)
Probability in this band: 1.5% to 4.2%
Bankruptcy probability within 12 months
1.7% Moderate
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.6% across 40,275 companies (NACE 47, micro).
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 3.0%
01-2025: 3.8%▲ +0.8 percentage points vs 12-2024
02-2025: 3.9%▲ +0.1 percentage points vs 01-2025
03-2025: 3.9%● unchanged vs 02-2025
04-2025: 3.9%● unchanged vs 03-2025
05-2025: 3.9%● unchanged vs 04-2025
06-2025: 3.8%▼ -0.1 percentage points vs 05-2025
07-2025: 3.7%▼ -0.1 percentage points vs 06-2025
08-2025: 4.5%▲ +0.8 percentage points vs 07-2025highest value
09-2025: 1.9%▼ -2.6 percentage points vs 08-2025
10-2025: 1.9%● unchanged vs 09-2025
11-2025: 1.9%● unchanged vs 10-2025
12-2025: 1.9%● unchanged vs 11-2025
01-2026: 1.8%▼ -0.1 percentage points vs 12-2025
02-2026: 1.8%● unchanged vs 01-2026
03-2026: 1.8%● unchanged vs 02-2026
04-2026: 1.9%▲ +0.1 percentage points vs 03-2026
05-2026: 1.9%● unchanged vs 04-2026
06-2026: 1.9%● unchanged vs 05-2026
07-2026: 1.9%● unchanged vs 06-2026
08-2026: 2.6%▲ +0.7 percentage points vs 07-2026
09-2026: 1.7%▼ -0.9 percentage points vs 08-2026
10-2026: 1.7%● unchanged vs 09-2026lowest value
11-2026: 1.7%● unchanged vs 10-2026lowest value
Financial strengthAverage
Score breakdown
raises risk
Last filed accounts filed 31 days late; 2 of the last 3 accounts late
Founded in 2023
Size: total assets €220,780
lowers risk
Liquidity: current ratio 1.53, cash €29,337
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 47, micro). It does better than 51% of them on solvency, 30% on liquidity, 48% on profitability and 75% on growth.
The bankruptcy probability was computed on 09-11-2026 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 31-12-2025.
Of the companies with a bankruptcy probability in the moderate class on 30-06-2025, 2.4% 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, 39,278 companies had the same profile as MICALE has now. Each dot stands for 99 companies, two years later.
95.8%
were still trading
2.3%
stopped another way
1.8%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MICALE itself: 1.7% 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 39,278 companies, not a prediction for MICALE. 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 €4,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 1.53 (1.4 in 2024), above the usual 1.5. Short-term debt is 64.6% and cash 13.3% of total assets. However, 64.6% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises risk
raises risk · 2025 accounts filed 31 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 3 filingsDeviation from the deadline
2025
31 days late
2024
28 days late
2023
145 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 3 accounts on average 68 days after the deadline. In the sector (NACE 47), the median for financial year 2024 was on the deadline day, and 47% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 31 August (3 of the last 3 accounts filed within 115 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- DECLERCK Michaël 100 sharesdeed of 23-01-2023
- HENDERICKX Pascale 100 sharesdeed of 23-01-2023
Recent changes
Incorporation
Demerger: MICAJAMY (formerly PASTINE) splits off to MICALE · Appointments: DECLERCK Michaël (director) and HENDERICKX Pascale (director) · Name change: MICAJAMY · published on 23-01-2023 · Gazette deed
First establishment
PASTINE, Baron van Ertbornstraat 4, Aartselaar
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| MICALE Aartselaar | €220,780 | €20,233 | 35.4% | - |
| A&H BAZAR Anderlecht | €188,852 | €16,879 | 6.4% | - |
| NDR Company Herentals | €167,762 | €28,516 | 30.1% | - |
| S & L Anderlecht | €176,599 | €15,825 | 8.1% | - |
| Reinvented by AnneN Leuven | €158,682 | €21,857 | 21.5% | - |
| PAUPSY Ath | €201,535 | €31,914 | 12.9% | - |
| TIPITI Tournai | €137,438 | €21,551 | 70.3% | - |
These companies have the same main activity as MICALE: retail sale of clothing and accessories for women, men, children and babies (general range) (NACE 47716). They are comparable in size and age: total assets between €137,000 and €202,000, founded between 2022 and 2023.
Official details
Source: KBO- Status
- Active since 09-01-2023Normal situation
- Activity
- Retail sale of clothing and accessories for women, men, children and babies (general range)NACE 47716and 1 other
- Joint committee
- 201Independent retail · annual accounts 2025
- Establishment unit
- 2.340.897.5352630 Aartselaar, since 09-01-2023
- Financial year end
- 31 December
- Peppol
- Reachable
Insights on MICALE
MICALE files the micro format. That format states no turnover. The gross margin fell from €98,108 in 2023 to €20,233 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 MICALE
- What is the company number of MICALE?
- The company number of MICALE is 0795.863.917. The VAT number is the same number with BE in front: BE 0795.863.917.
- Where is MICALE based?
- The registered office is at Baron van Ertbornstraat 4, 2630 Aartselaar.Company details
- What does MICALE do?
- According to the KBO register, the main activity is retail sale of clothing and accessories for women, men, children and babies (general range) (NACE 47716).
- What is the legal form of MICALE?
- MICALE is a private limited company (BV).
- When was MICALE founded?
- MICALE was founded on 09-01-2023.
- Is MICALE still active?
- Yes, MICALE is an active enterprise in the KBO register.
- How many employees does MICALE have?
- MICALE had an average of 0.1 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does MICALE fall under?
- In its 2025 annual accounts, MICALE states joint committee 201 (Independent retail).
- What is the turnover of MICALE?
- The turnover in financial year 2025 is ≈ €240,000. This figure is estimated from the gross margin of €20,233 and 40 comparable companies (NACE 47716). It probably lies between €79,000 and €470,000. It is a rough estimate.
- Is MICALE profitable?
- In financial year 2025, MICALE made a profit of €14,564.
- Where can I find the annual accounts of MICALE?
- MICALE filed 3 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of MICALE due?
- MICALE must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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