MICHAEL VANDERHAEGHE
ActiveThe computed 12-month bankruptcy probability of MICHAEL VANDERHAEGHE is 2.1% (moderate). The 2025 annual accounts show equity of €29k and a net result of €-3k. Equity is growing by ~2.7% per year across the filed fiscal years. Its solvency ranks better than 41% of 13159 sector peers (fiscal year 2025). The company has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
47
/ 100
Fair
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability49▼-23
Solvency45▲+2
Growth52=
Track record100
Bankruptcy probability, 12 months
2.1%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €1k at 30 days acceptable
Liquidity tight (current ratio 1.27 against 1.15 in 2024; short-term debt: 33.3% and cash: 6.4% of total assets), and 80.1% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
+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 56
Relative position
BE, all sectors
reference
Sector 56
higher
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
19.9%
Return on assets
-1.9%
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 29-07-2026, 2 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
2 d early
2024
40 d late
2023
31 d late
2022
31 d late
2021
31 d late
2020
31 d late
2019
90 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
18-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€29k▼ 8.9%
2024 · €32k
2018: €21k
2019: €27k
2020: €39k
2021: €43k
2022: €19k
2023: €28k
2024: €32k
2018 → 2025
Total assets
€145k▼ 16.5%
2024 · €174k
2018: €38k
2019: €39k
2020: €48k
2021: €93k
2022: €95k
2023: €165k
2024: €174k
2018 → 2025
Net result
€-3k
2024 · €5k
2018: €9k
2019: €5k
2020: €13k
2021: €4k
2022: €6k
2023: €5k
2024: €5k
2018 → 2025
Working capital
€13k▲ 38.0%
2024 · €9k
2018: €18k
2019: €23k
2020: €37k
2021: €30k
2022: €7k
2023: €3k
2024: €9k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€43k-€19k▼ 55.0%€28k▲ 44.3%€32k▲ 13.9%€29k▼ 8.9%
Operating result€5k-€9k▲ 82.8%€10k▲ 9.8%€11k▲ 10.5%€3k▼ 75.5%
Net result€4k-€6k▲ 57.6%€5k▼ 10.5%€5k▼ 10.3%€-3k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 76% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €145k
Fixed assets
€84k▼ 17.9%
Current assets
€61k▼ 14.5%
Equity and liabilities €145k
Equity
€29k▼ 8.9%
Debt
€116k▼ 18.2%
The debt ratio falls from 81.8% to 80.1%. Equity and debt are lower.
Key figures and ratios
EBITDA
€21k▼
2024 · €34k
Cash flow
€15k▼
2024 · €28k
Solvency
19.9%▲
2024 · 18.2%
Current ratio
1.27▲
2024 · 1.15
Quick ratio
1.27▲
2024 · 1.15
Debt / equity
4.03▼
2024 · 4.49
ROE
-9.8%▼
2024 · 14.8%
ROA
-1.9%▼
2024 · 2.7%
Interest coverage
3.92▼
2024 · 6.79
Debt
€116k▼
2024 · €142k
Debt ≤ 1 year
€48k▼
2024 · €62k
Debt > 1 year
€68k▼
2024 · €80k
Income taxes
€132▼
2024 · €1k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€174k€145k▼
Fixed assets21/28€102k€84k▼
Tangible fixed assets22/27€102k€84k▼
Furniture and vehicles24€259€0▼
Leasing and similar rights25€10k€3k▼
Other tangible fixed assets26€91k€81k▼
Current assets29/58€72k€61k▼
Amounts receivable within one year40/41€43k€48k▲
Trade receivables40€42k€46k▲
Other amounts receivable41€857€3k▲
Cash at bank and in hand54/58€24k€9k▼
Deferred charges and accrued income490/1€5k€4k▼
Equity and liabilities
Total equity and liabilities10/49€174k€145k▼
Equity10/15€32k€29k▼
Contributions10/11€19k€19k=
Reserves13€13k€10k▼
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€11k€8k▼
Profit (loss) carried forward14€0€0=
Amounts payable17/49€142k€116k▼
Amounts payable after more than one year17€80k€68k▼
Financial debts170/4€80k€68k▼
Amounts payable within one year42/48€62k€48k▼
Current portion of amounts payable after more than one year42€17k€12k▼
Trade debts44€10k€1k▼
Suppliers440/4€10k€1k▼
Taxes, remuneration and social security45€16k€11k▼
Taxes450/3€12k€11k▼
Remuneration and social security454/9€4k€0▼
Other amounts payable47/48€20k€24k▲
Accrued charges and deferred income492/3€66€67▲
Income statement
Code20242025
Non-recurring operating income76A€9k€0▼
Remuneration, social security and pensions62€0-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€23k€18k▼
Other operating charges640/8€2k€2k▼
Gross operating margin9900€35k€22k▼
Operating profit (loss)9901€11k€3k▼
Financial income75/76B€107€28▼
Recurring financial income75€107€28▼
Financial charges65/66B€5k€5k▲
Recurring financial charges65€5k€5k▲
Profit (loss) for the period before taxes9903€6k€-3k▼
Income taxes67/77€1k€132▼
Profit (loss) for the period9904€5k€-3k▼
Profit (loss) for the period to be appropriated9905€5k€-3k▼
Appropriation of the result
Profit (loss) to be appropriated9906€5k€-3k▼
Transfer from equity791/2-€3k
Transfer to equity691/2€4k€0▼
To other reserves6921€4k€0▼
Profit to be distributed694/7€833€0▼
Return on contributions (dividend)694€833€0▼
Directors or managers695€0-
The notes to these accounts (12 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
29-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet €-3k ▼160%
Net result drops to €-3k, the lowest in the series.
09-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 40 days late
2024
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 31 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-12
Financial
Highest result since 2018net €13k ▲143%
Operating result €13k, net result €13k, both a record.
29-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 90 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Ieper · 1 establishment unit since 2018
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.
Veurnseweg 5328906 IeperGround area
2,091 m²
Building footprint
440 m²
Volume, LiDAR
2,318 m³
Parcel 33007C0305/00R002, Flanders · tallest building 7.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MICHAEL VANDERHAEGHE
since 20182.272.457.897
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 33007C0305/00R002 | Flanders | 2,091 m² | 1 · 440 m² | 7.9 m · 2 fl. |
Linked by address, not proof of ownership
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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteIeper2.272.457.897
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Of 7,506 companies in sector 56210 we hold annual accounts for 2,445. 1,937 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded04-01-2018
Fiscal year end31-12
Activities, NACEBEL
56210Event catering
Sources
Crossroads Bank for EnterprisesNational Bank · 8 filingsAddress and cadastre registers
Data from official sources, last processed on 18-09-2026. Scores and ratios are computed by Checked and are not a credit decision.