Summary
MICHAN is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €37k and a net result of €90k. Equity is growing by ~30.2% per year across the filed fiscal years. Its solvency ranks better than 18% of 8048 sector peers (fiscal year 2025). The company has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The health score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 18% of 8048 sector peers (2025).
NBB · sector comparisonPosition among 8048 sector peers
Solvency
better than 18%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 28-01-2026, 3 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
3 d early
2024
80 d late
2023
12 d early
2022
24 d early
2021
4 d early
2020
41 d early
2019
2 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close25-09-2026 today31-01-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Accepting this client? The AML file with identity, beneficial owners and sanctions lists.AML client file What changed in the latest annual accounts?What changed What held for this company on a given day: board, seat, name?Company as of a date Which other companies resemble this one?Lookalike companies
Financials · fiscal year 2025, micro schema
Equity
€37k
2024 · €-54k
Net result
€90k▲ 122%
2024 · €41k
Total assets
€313k▲ 46.5%
2024 · €214k
Solvency
11.8%▲ 36.9pp
2024 · -25.1%
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€71k
Operating result€81k▲ 225%€-9k€57k€41k▼ 27.8%€91k▲ 122%
Net result€81k▲ 227%€-9k€56k€41k▼ 27.5%€90k▲ 122%
Equity€-141k▲ 36.5%€-151k▼ 6.5%€-94k▲ 37.3%€-54k▲ 43.2%€37k
Total assets€212k▲ 11.2%€170k▼ 19.9%€194k▲ 14.3%€214k▲ 10.0%€313k▲ 46.5%
Debt€354k▼ 14.5%€321k▼ 9.4%€289k▼ 10.0%€267k▼ 7.4%€276k▲ 3.3%
Working capital€-303k▲ 22.6%€-311k▼ 2.9%€-255k▲ 18.1%€-145k▲ 43.0%€-146k▼ 0.2%
Solvency-66.6%▲ 50.0pp-88.6%▼ 22.0pp-48.6%▲ 40.0pp-25.1%▲ 23.5pp11.8%▲ 36.9pp
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 122% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €313k
Fixed assets
€183k ▲ 11.7%
Current assets
€130k ▲ 161%
Equity and liabilities €313k
Equity
€37k
Debt
€276k
Debt finances 88.2% of the balance-sheet total.
Key figures and ratios
ROE
245.2%
ROA
28.9%▲
2024 · 19.1%
Debt ≤ 1 year
€276k▲
2024 · €195k
Staff costs
€0
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | €71k | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €28k | - | - |
| Remuneration, social security and pensions62 | - | €0 | - | - | €0 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10k | €466 | €570 | €1k | €13k | ▲ 802% |
| Other operating charges640/8 | - | €9k | €1k | €501 | €514 | ▲ 2.4% |
| Gross operating margin9900 | €93k | €338 | €59k | €43k | €104k | ▲ 143% |
| Operating profit (loss)9901 | €81k | €-9k | €57k | €41k | €91k | ▲ 122% |
| Financial income75/76B | - | - | - | - | €15 | - |
| Recurring financial income75 | - | - | - | - | €15 | - |
| Financial charges65/66B | - | €221 | €497 | €204 | €296 | ▲ 45.0% |
| Recurring financial charges65 | €0 | €221 | €497 | €204 | €296 | ▲ 45.0% |
| Profit (loss) for the period before taxes9903 | €81k | €-9k | €56k | €41k | €90k | ▲ 122% |
| Profit (loss) for the period9904 | €81k | €-9k | €56k | €41k | €90k | ▲ 122% |
| Profit (loss) for the period to be appropriated9905 | €81k | €-9k | €56k | €41k | €90k | ▲ 122% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €212k | €170k | €194k | €214k | €313k | ▲ 46.5% |
| Fixed assets21/28 | €161k | €161k | €161k | €164k | €183k | ▲ 11.7% |
| Tangible fixed assets22/27 | €161k | €161k | €161k | €164k | €183k | ▲ 11.7% |
| Land and buildings22 | - | €159k | €159k | €159k | €153k | ▼ 3.9% |
| Plant, machinery and equipment23 | - | €2k | €2k | €2k | €24k | ▲ 1,356% |
| Furniture and vehicles24 | - | - | - | €3k | €6k | ▲ 99.6% |
| Financial fixed assets28 | €84 | €84 | €84 | €84 | €0 | ▼ 100% |
| Current assets29/58 | €51k | €9k | €33k | €50k | €130k | ▲ 161% |
| Amounts receivable after more than one year29 | - | - | - | €24k | - | - |
| Trade receivables290 | - | - | - | €22k | - | - |
| Other amounts receivable291 | - | - | - | €1k | - | - |
| Amounts receivable within one year40/41 | €49k | €9k | €33k | - | €81k | - |
| Trade receivables40 | - | €9k | €26k | - | €60k | - |
| Other amounts receivable41 | - | €564 | €7k | - | €22k | - |
| Cash at bank and in hand54/58 | €2k | €41 | €186 | €24k | €49k | ▲ 101% |
| Deferred charges and accrued income490/1 | - | - | - | €2k | €0 | ▼ 100% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €212k | €170k | €194k | €214k | €313k | ▲ 46.5% |
| Equity10/15 | €-141k | €-151k | €-94k | €-54k | €37k | ▲ 169% |
| Contributions10/11 | - | €25k | €25k | €25k | €25k | = |
| Capital10 | - | - | - | - | €0 | - |
| Issued capital100 | - | - | - | - | €0 | - |
| Outside capital11 | - | - | - | - | €25k | - |
| Other1109/19 | - | - | - | - | €25k | - |
| Reserves13 | €25k | €25k | €25k | €25k | €25k | = |
| Non-distributable reserves130/1 | - | €3k | €3k | €3k | €3k | = |
| Legal reserve130 | - | - | - | - | €0 | - |
| Reserves not available under the articles1311 | - | €3k | €3k | €3k | €3k | = |
| Tax-exempt reserves132 | - | €6k | €6k | €6k | €6k | = |
| Distributable reserves133 | - | €16k | €16k | €16k | €16k | = |
| Profit (loss) carried forward14 | €-191k | €-200k | €-144k | €-103k | €-13k | ▲ 87.6% |
| Amounts payable17/49 | €354k | €321k | €289k | €267k | €276k | ▲ 3.3% |
| Amounts payable after more than one year17 | - | - | - | €72k | - | - |
| Trade debts175 | - | - | - | €72k | - | - |
| Amounts payable within one year42/48 | €354k | €321k | €288k | €195k | €276k | ▲ 41.2% |
| Trade debts44 | €79k | €77k | €80k | - | €90k | - |
| Suppliers440/4 | - | €77k | €80k | - | €90k | - |
| Taxes, remuneration and social security45 | - | €0 | - | €2k | €0 | ▼ 100% |
| Taxes450/3 | - | €0 | - | €2k | €0 | ▼ 100% |
| Other amounts payable47/48 | - | €243k | €208k | €193k | €186k | ▼ 3.9% |
| Accrued charges and deferred income492/3 | - | - | €439 | - | €439 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €81k | €-9k | €56k | €41k | €90k | ▲ 122% |
| + Depreciation and write-downs630 | €10k | €466 | €570 | €1k | €13k | ▲ 802% |
| Operating cash flow (approximation) | €91k | €-9k | €57k | €42k | €103k | ▲ 145% |
| Investment in fixed assets (approximation) | - | €0 | €-1k | €-4k | €-32k | ▼ 665% |
| Change in cash | - | €-2k | €144 | €24k | €24k | ▲ 1.7% |
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
28-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-06
Financial
Highest result since 2019net €90k ▲122%
Operating result €91k, net result €90k, both a record.
21-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 80 days late
2024
19-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-06
Financial
Back to profitnet €56k
Net result €56k after one loss-making year.
07-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
27-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2020
21-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
30-06
Financial
Back to profitnet €25k
Net result €25k after one loss-making year.
29-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
10-01
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
13-02
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 13 days late
2017
18-01
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Roeselare · 1 establishment unit since 2003
Ground area
1,652 m²
Building footprint
262 m²
Volume, LiDAR
1,803 m³
Parcel 36017D0811/00T000, Flanders · tallest building 8.3 m, ±2 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
Meensesteenweg 708, 8800 Roeselare
since 20032.114.804.292
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36017D0811/00T000 | Flanders | 1,652 m² | 1 · 262 m² | 8.3 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 24,730 companies in sector 64210 we hold annual accounts for 19,772. 9,445 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formCoöperatieve vennootschap met beperkte aansprakelijkheid
Founded22-10-2002
Fiscal year end30-06
Activities, NACEBEL 2025
64210Activities of holding companies
43222Installation of electric heating, air conditioning, cooling and ventilation
43230Insulation installation
43320Joinery installation
43350Other building finishing work
43421Specialised construction activities
Scores and ratios are computed by Checked and are not a credit decision.