MICH-CONSTRUCT
ActiveSummary
MICH-CONSTRUCT has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €31,247 and a net result of €17,893. Equity is growing by ~75.4% per year across the filed fiscal years. Its solvency ranks better than 50% of 28254 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+25
Solvency72▲+18
Growth78=
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000 at 30 days acceptable
Liquidity ample (current ratio 1.63 against 1.15 in 2024; short-term debt: 53.3% and cash: 55.8% of total assets), but 53.3% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
46.7%
Return on assets
26.8%
Age of the figures
9 mo
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 13-07-2026, 18 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
18 d early
2024
9 d early
2023
42 d early
2022
3 d early
2021
4 d early
2020
1 d early
2019
153 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 11 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 22 July (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you trust this company with building work?Contractor check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark
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Financials · fiscal year 2025, micro schema
Turnover
€301,880
EBIT margin
9.1%
Net result
€17,893▲ 712%
2024 · €2,203
Working capital
€22,443▲ 392%
2024 · €4,557
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€301,880
Operating result-€4,750€27,105€27,434▲ 1.2%€7,447▼ 72.9%€28,468▲ 282%
Net result-€6,808below the sector's middle half€20,324within the sector's middle half€19,645within the sector's middle half▼ 3.3%€2,203within the sector's middle half▼ 88.8%€17,893within the sector's middle half▲ 712%
EBIT margin9.1%
Equity-€22,718below the sector's middle half▼ 42.8%-€2,394below the sector's middle half▲ 89.5%€17,251below the sector's middle half€13,354below the sector's middle half▼ 22.6%€31,247within the sector's middle half▲ 134%
Total assets€19,541below the sector's middle half▼ 51.2%€41,149below the sector's middle half▲ 111%€40,176below the sector's middle half▼ 2.4%€45,637below the sector's middle half▲ 13.6%€66,869within the sector's middle half▲ 46.5%
Debt€42,259▼ 24.5%€43,543▲ 3.0%€22,925▼ 47.4%€32,283▲ 40.8%€35,622▲ 10.3%
Working capital-€23,865below the sector's middle half▼ 15.6%-€2,866below the sector's middle half▲ 88.0%€9,360within the sector's middle half€4,557within the sector's middle half▼ 51.3%€22,443within the sector's middle half▲ 392%
Solvency-116.3%below the sector's middle half▼ 76.5pp-5.8%below the sector's middle half▲ 110.4pp42.9%within the sector's middle half▲ 48.8pp29.3%within the sector's middle half▼ 13.7pp46.7%within the sector's middle half▲ 17.5pp
Current ratio0.44below the sector's middle half▼ 0.200.93below the sector's middle half▲ 0.501.41within the sector's middle half▲ 0.471.15within the sector's middle half▼ 0.251.63within the sector's middle half▲ 0.48
Return on assets (ROA)-34.8%below the sector's middle half▼ 124.3pp49.4%above the sector's middle half▲ 84.2pp48.9%above the sector's middle half▼ 0.5pp4.8%within the sector's middle half▼ 44.1pp26.8%above the sector's middle half▲ 21.9pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 282% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €66,869
Fixed assets
€8,804 ▼ 23.5%
Current assets
€58,065 ▲ 70.2%
Equity and liabilities €66,869
Equity
€31,247 ▲ 134%
Debt
€35,622 ▲ 10.3%
Debt's share of the balance-sheet total falls from 70.7% to 53.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€34,839▲
2024 · €11,598
Cash flow
€24,264▲
2024 · €6,354
Quick ratio
1.59▲
2024 · 0.83
Debt to equity
1.14▼
2024 · 2.42
ROE
57.3%▲
2024 · 16.5%
Interest coverage
27.36▲
2024 · 18.48
Debt ≤ 1 year
€35,622▲
2024 · €29,566
Debt > 1 year
€0▼
2024 · €2,717
Income taxes
€9,302▲
2024 · €4,616
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,970 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.5%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.0% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 26,970 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | - | - | €301,880 | - | - | - |
| Non-recurring operating income76A | - | - | €0 | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | €282,831 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,592 | €675 | €3,310 | €4,152 | €6,371 | ▲ 53.5% |
| Other operating charges640/8 | €2,880 | €853 | €3,220 | €1,489 | €2,182 | ▲ 46.5% |
| Gross operating margin9900 | €1,723 | €28,633 | €33,965 | €13,087 | €37,021 | ▲ 183% |
| Operating profit (loss)9901 | -€4,750 | €27,105 | €27,434 | €7,447 | €28,468 | ▲ 282% |
| Financial charges65/66B | €535 | €1,502 | €1,783 | €628 | €1,273 | ▲ 103% |
| Recurring financial charges65 | €535 | €1,502 | €1,783 | €628 | €1,273 | ▲ 103% |
| Profit (loss) for the period before taxes9903 | -€5,284 | €25,603 | €25,651 | €6,819 | €27,195 | ▲ 299% |
| Income taxes67/77 | €1,524 | €5,279 | €6,006 | €4,616 | €9,302 | ▲ 101% |
| Profit (loss) for the period9904 | -€6,808 | €20,324 | €19,645 | €2,203 | €17,893 | ▲ 712% |
| Profit (loss) for the period to be appropriated9905 | -€6,808 | €20,324 | €19,645 | €2,203 | €17,893 | ▲ 712% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €19,541 | €41,149 | €40,176 | €45,637 | €66,869 | ▲ 46.5% |
| Formation expenses20 | €333 | €123 | €0 | - | - | - |
| Fixed assets21/28 | €814 | €349 | €7,890 | €11,513 | €8,804 | ▼ 23.5% |
| Tangible fixed assets22/27 | €814 | €349 | €7,890 | €11,513 | €7,504 | ▼ 34.8% |
| Plant, machinery and equipment23 | - | - | €2,953 | €1,559 | €2,322 | ▲ 49.0% |
| Furniture and vehicles24 | €814 | €349 | €4,937 | €9,955 | €5,182 | ▼ 47.9% |
| Financial fixed assets28 | - | - | - | - | €1,300 | - |
| Current assets29/58 | €18,394 | €40,677 | €32,285 | €34,124 | €58,065 | ▲ 70.2% |
| Stocks and contracts in progress3 | - | - | €11,197 | €9,584 | €1,524 | ▼ 84.1% |
| Stocks30/36 | - | - | €4,597 | €2,084 | €1,524 | ▼ 26.9% |
| Contracts in progress37 | - | - | €6,600 | €7,500 | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €17,323 | €37,358 | €9,505 | €24,137 | €17,839 | ▼ 26.1% |
| Trade receivables40 | €14,876 | €34,512 | €6,870 | €20,777 | €13,380 | ▼ 35.6% |
| Other amounts receivable41 | €2,446 | €2,847 | €2,634 | €3,360 | €4,459 | ▲ 32.7% |
| Cash at bank and in hand54/58 | €761 | €2,507 | €11,265 | €0 | €37,346 | - |
| Deferred charges and accrued income490/1 | €310 | €811 | €318 | €402 | €1,355 | ▲ 237% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €19,541 | €41,149 | €40,176 | €45,637 | €66,869 | ▲ 46.5% |
| Equity10/15 | -€22,718 | -€2,394 | €17,251 | €13,354 | €31,247 | ▲ 134% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €100 | €100 | = |
| Reserves13 | - | - | €11,051 | €13,254 | €31,147 | ▲ 135% |
| Distributable reserves133 | - | - | €11,051 | €13,254 | €31,147 | ▲ 135% |
| Profit (loss) carried forward14 | -€28,918 | -€8,594 | €0 | - | - | - |
| Amounts payable17/49 | €42,259 | €43,543 | €22,925 | €32,283 | €35,622 | ▲ 10.3% |
| Amounts payable after more than one year17 | - | - | - | €2,717 | €0 | ▼ 100% |
| Financial debts170/4 | - | - | - | €2,717 | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €42,259 | €43,543 | €22,925 | €29,566 | €35,622 | ▲ 20.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | €3,475 | €2,717 | ▼ 21.8% |
| Financial debts43 | - | - | - | €3,563 | €2,353 | ▼ 34.0% |
| Credit institutions430/8 | - | - | - | €3,563 | €2,353 | ▼ 34.0% |
| Trade debts44 | €35,037 | €38,545 | €14,713 | €19,048 | €20,730 | ▲ 8.8% |
| Suppliers440/4 | €35,037 | €38,545 | €14,713 | €19,048 | €20,730 | ▲ 8.8% |
| Advances received on contracts in progress46 | - | - | €2,850 | €0 | - | - |
| Taxes, remuneration and social security45 | €3,677 | €3,925 | €3,931 | €3,480 | €5,782 | ▲ 66.2% |
| Taxes450/3 | €3,677 | €3,925 | €3,931 | €3,480 | €5,782 | ▲ 66.2% |
| Other amounts payable47/48 | €3,545 | €1,072 | €1,431 | €0 | €4,039 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€6,808 | €20,324 | €19,645 | €2,203 | €17,893 | ▲ 712% |
| + Depreciation and write-downs630 | €3,592 | €675 | €3,310 | €4,152 | €6,371 | ▲ 53.5% |
| Operating cash flow (approximation) | -€3,216 | €20,999 | €22,955 | €6,354 | €24,264 | ▲ 282% |
| Investment in fixed assets (approximation) | - | -€210 | -€10,852 | -€7,775 | -€3,661 | ▲ 52.9% |
| Change in cash | - | €1,746 | €8,758 | -€11,265 | €37,346 | ▲ 432% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
13-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
22-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
19-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
28-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €20,324
Net result €20,324 after one loss-making year.
27-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Back to profitnet €35,795
Net result €35,795 after one loss-making year.
31-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 153 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
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.
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Directors · office · real estate
Directors
4 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Aalter · 1 establishment unit since 2018
Ground area
675 m²
Building footprint
141 m²
Volume, LiDAR
725 m³
Parcel 44503H0104/00F000, Flanders · tallest building 7.0 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
MICH-CONSTRUCT
since 20182.280.097.539
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44503H0104/00F000 | Flanders | 675 m² | 1 · 141 m² | 7.0 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 20,025 companies in sector 43320 we hold annual accounts for 9,138. 6,856 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded14-08-2018
Fiscal year end31-12
Activities, NACEBEL 2025
43320Joinery installation
41001General construction of residential buildings
43350Other building finishing work
E-invoicing
Reachable via Peppol
Peppol ID
0208:0700857167
Also
9925:BE0700857167
Registered
18-06-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.