MICHAS
ActiveSummary
MICHAS has been active since 1996 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.35M and a net result of €464k. Equity is growing by ~16.7% per year across the filed fiscal years. Its solvency ranks better than 85% of 3489 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability90▲+4
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €190k at 30 days acceptable
Liquidity ample (current ratio 6.85 against 8.41 in 2024; short-term debt: 14.2% and cash: 6% of total assets), and 15% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 74
Relative position
BE, all sectors
reference
Other professional, scientific and technical activities (NACE 74)
about 48% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
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
85%
Return on assets
16.8%
Age of the figures
15 mo
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 10-01-2026, 21 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
21 d early
2024
4 d early
2023
20 d early
2022
13 d early
2021
25 d early
2020
17 d early
2019
17 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
Financials · fiscal year 2025, micro schema
Equity
€2.35M▲ 24.6%
2024 · €1.89M
2019: €809klowest in 7 years
2020: €986k▲ +21.9% vs 2019
2021: €1.25M▲ +27.1% vs 2020
2022: €1.57M▲ +25.0% vs 2021
2023: €1.88M▲ +20.3% vs 2022
2024: €1.89M▲ +0.2% vs 2023
2025: €2.35M▲ +24.6% vs 2024highest in 7 years
2019 → 2025
Total assets
€2.76M▲ 28.7%
2024 · €2.15M
2019: €954klowest in 7 years
2020: €1.15M▲ +20.4% vs 2019
2021: €1.43M▲ +24.6% vs 2020
2022: €1.81M▲ +26.6% vs 2021
2023: €2.16M▲ +19.2% vs 2022
2024: €2.15M▼ -0.6% vs 2023
2025: €2.76M▲ +28.7% vs 2024highest in 7 years
2019 → 2025
Net result
€464k▲ 60.7%
2024 · €289k
2019: €189k
2020: €177k▼ -6.5% vs 2019lowest in 7 years
2021: €267k▲ +51.0% vs 2020
2022: €313k▲ +17.1% vs 2021
2023: €317k▲ +1.5% vs 2022
2024: €289k▼ -9.0% vs 2023
2025: €464k▲ +60.7% vs 2024highest in 7 years
2019 → 2025
Working capital
€2.30M▲ 26.9%
2024 · €1.81M
2019: €774klowest in 7 years
2020: €968k▲ +25.1% vs 2019
2021: €1.23M▲ +27.4% vs 2020
2022: €1.55M▲ +25.8% vs 2021
2023: €1.87M▲ +20.3% vs 2022
2024: €1.81M▼ -3.0% vs 2023
2025: €2.30M▲ +26.9% vs 2024highest in 7 years
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.25M-€1.57M▲ 25.0%€1.88M▲ 20.3%€1.89M▲ 0.2%€2.35M▲ 24.6%
2021: €1.25Mlowest in 5 years
2022: €1.57M▲ +25.0% vs 2021
2023: €1.88M▲ +20.3% vs 2022
2024: €1.89M▲ +0.2% vs 2023
2025: €2.35M▲ +24.6% vs 2024highest in 5 years
Operating result€372k-€427k▲ 14.8%€456k▲ 6.8%€465k▲ 1.9%€424k▼ 8.8%
2021: €372klowest in 5 years
2022: €427k▲ +14.8% vs 2021
2023: €456k▲ +6.8% vs 2022
2024: €465k▲ +1.9% vs 2023highest in 5 years
2025: €424k▼ -8.8% vs 2024
Net result€267k-€313k▲ 17.1%€317k▲ 1.5%€289k▼ 9.0%€464k▲ 60.7%
2021: €267klowest in 5 years
2022: €313k▲ +17.1% vs 2021
2023: €317k▲ +1.5% vs 2022
2024: €289k▼ -9.0% vs 2023
2025: €464k▲ +60.7% vs 2024highest in 5 years
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 9% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.76M
Fixed assets
€72k ▼ 21.0%
Current assets
€2.69M ▲ 30.9%
Equity and liabilities €2.76M
Equity
€2.35M ▲ 24.6%
Debt
€413k ▲ 58.0%
Debt's share of the balance-sheet total rises from 12.2% to 15.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€443k▼
2024 · €478k
Cash flow
€483k▲
2024 · €302k
Current ratio
6.85▼
2024 · 8.41
Debt to equity
0.18▲
2024 · 0.14
ROE
19.7%▲
2024 · 15.3%
ROA
16.8%▲
2024 · 13.5%
Interest coverage
19.50▼
2024 · 38.63
Debt ≤ 1 year
€393k▲
2024 · €244k
Income taxes
€111k▼
2024 · €179k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 53 lines
Balance sheet
Code20242025
Assets
Total assets20/58€2.15M€2.76M▲
Fixed assets21/28€92k€72k▼
Tangible fixed assets22/27€92k€72k▼
Land and buildings22€18k€15k▼
Plant, machinery and equipment23€11k€9k▼
Furniture and vehicles24€63k€49k▼
Current assets29/58€2.06M€2.69M▲
Amounts receivable after more than one year29€300k€320k▲
Other amounts receivable291€300k€320k▲
Current investments50/53€1.35M€2.06M▲
Cash at bank and in hand54/58€254k€165k▼
Deferred charges and accrued income490/1€154k€143k▼
Equity and liabilities
Total equity and liabilities10/49€2.15M€2.76M▲
Equity10/15€1.89M€2.35M▲
Contributions10/11€20k€20k=
Reserves13€1.74M€2.20M▲
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Tax-exempt reserves132€491k€569k▲
Distributable reserves133€1.25M€1.63M▲
Profit (loss) carried forward14€126k€127k▲
Amounts payable17/49€262k€413k▲
Amounts payable within one year42/48€244k€393k▲
Trade debts44€12k€7k▼
Suppliers440/4€12k€7k▼
Taxes, remuneration and social security45€61k€39k▼
Taxes450/3€61k€39k▼
Other amounts payable47/48€172k€347k▲
Accrued charges and deferred income492/3€17k€20k▲
Income statement
Code20242025
Non-recurring operating income76A€16k-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€14k€19k▲
Other operating charges640/8€5k€5k▼
Gross operating margin9900€483k€448k▼
Operating profit (loss)9901€465k€424k▼
Financial income75/76B€16k€178k▲
Recurring financial income75€16k€42k▲
Non-recurring financial income76B-€136k
Financial charges65/66B€12k€26k▲
Recurring financial charges65€12k€23k▲
Non-recurring financial charges66B-€4k
Profit (loss) for the period before taxes9903€468k€575k▲
Income taxes67/77€179k€111k▼
Profit (loss) for the period9904€289k€464k▲
Transfer from tax-exempt reserves789-€80k
Transfer to tax-exempt reserves689-€158k
Profit (loss) for the period to be appropriated9905€289k€386k▲
Appropriation of the result
Profit (loss) to be appropriated9906€413k€512k▲
Profit (loss) brought forward from the previous period14P€124k€126k▲
Transfer from equity791/2€286k-
Transfer to equity691/2€287k€386k▲
To other reserves6921€287k€386k▲
Profit to be distributed694/7€286k-
Return on contributions (dividend)694€286k-
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €16k | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3k | €3k | €4k | €14k | €19k | ▲ 41.1% |
| Other operating charges640/8 | - | €3k | €6k | €5k | €5k | ▼ 3.3% |
| Non-recurring operating charges66A | - | €193 | - | - | - | - |
| Gross operating margin9900 | €380k | €433k | €466k | €483k | €448k | ▼ 7.3% |
| Operating profit (loss)9901 | €372k | €427k | €456k | €465k | €424k | ▼ 8.8% |
| Financial income75/76B | - | €13k | €5k | €16k | €178k | ▲ 1,032% |
| Recurring financial income75 | €3k | €13k | €5k | €16k | €42k | ▲ 165% |
| Non-recurring financial income76B | - | - | - | - | €136k | - |
| Financial charges65/66B | - | €6k | €9k | €12k | €26k | ▲ 112% |
| Recurring financial charges65 | €7k | €6k | €9k | €12k | €23k | ▲ 83.5% |
| Non-recurring financial charges66B | - | - | - | - | €4k | - |
| Profit (loss) for the period before taxes9903 | €368k | €433k | €451k | €468k | €575k | ▲ 22.9% |
| Income taxes67/77 | €101k | €121k | €134k | €179k | €111k | ▼ 37.9% |
| Profit (loss) for the period9904 | €267k | €313k | €317k | €289k | €464k | ▲ 60.7% |
| Transfer from tax-exempt reserves789 | - | - | €125k | - | €80k | - |
| Transfer to tax-exempt reserves689 | - | €147k | €158k | - | €158k | - |
| Profit (loss) for the period to be appropriated9905 | €162k | €165k | €284k | €289k | €386k | ▲ 33.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.43M | €1.81M | €2.16M | €2.15M | €2.76M | ▲ 28.7% |
| Fixed assets21/28 | €26k | €26k | €34k | €92k | €72k | ▼ 21.0% |
| Tangible fixed assets22/27 | €26k | €26k | €34k | €92k | €72k | ▼ 21.0% |
| Land and buildings22 | - | €25k | €21k | €18k | €15k | ▼ 18.2% |
| Plant, machinery and equipment23 | - | €1k | €12k | €11k | €9k | ▼ 15.3% |
| Furniture and vehicles24 | - | - | - | €63k | €49k | ▼ 22.7% |
| Current assets29/58 | €1.41M | €1.79M | €2.13M | €2.06M | €2.69M | ▲ 30.9% |
| Amounts receivable after more than one year29 | - | - | - | €300k | €320k | ▲ 6.6% |
| Other amounts receivable291 | - | - | - | €300k | €320k | ▲ 6.6% |
| Current investments50/53 | €435k | €445k | €614k | €1.35M | €2.06M | ▲ 53.1% |
| Cash at bank and in hand54/58 | €824k | €1.20M | €1.37M | €254k | €165k | ▼ 35.2% |
| Deferred charges and accrued income490/1 | - | €139k | €142k | €154k | €143k | ▼ 7.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.43M | €1.81M | €2.16M | €2.15M | €2.76M | ▲ 28.7% |
| Equity10/15 | €1.25M | €1.57M | €1.88M | €1.89M | €2.35M | ▲ 24.6% |
| Contributions10/11 | - | €20k | €20k | €20k | €20k | = |
| Reserves13 | €1.11M | €1.43M | €1.74M | €1.74M | €2.20M | ▲ 26.6% |
| Non-distributable reserves130/1 | - | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | - | €2k | €2k | €2k | €2k | = |
| Tax-exempt reserves132 | - | €458k | €491k | €491k | €569k | ▲ 15.8% |
| Distributable reserves133 | - | €965k | €1.25M | €1.25M | €1.63M | ▲ 30.9% |
| Profit (loss) carried forward14 | €119k | €120k | €124k | €126k | €127k | ▲ 0.5% |
| Amounts payable17/49 | €179k | €247k | €278k | €262k | €413k | ▲ 58.0% |
| Amounts payable within one year42/48 | €172k | €236k | €260k | €244k | €393k | ▲ 60.8% |
| Trade debts44 | €3k | €1k | €1k | €12k | €7k | ▼ 41.7% |
| Suppliers440/4 | - | €1k | €1k | €12k | €7k | ▼ 41.7% |
| Taxes, remuneration and social security45 | - | €23k | €47k | €61k | €39k | ▼ 36.5% |
| Taxes450/3 | - | €23k | €47k | €61k | €39k | ▼ 36.5% |
| Other amounts payable47/48 | - | €211k | €212k | €172k | €347k | ▲ 102% |
| Accrued charges and deferred income492/3 | - | €12k | €18k | €17k | €20k | ▲ 18.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €267k | €313k | €317k | €289k | €464k | ▲ 60.7% |
| + Depreciation and write-downs630 | €3k | €3k | €4k | €14k | €19k | ▲ 41.1% |
| Operating cash flow (approximation) | €270k | €316k | €322k | €302k | €483k | ▲ 59.8% |
| Investment in fixed assets (approximation) | - | €-3k | €-12k | €-72k | €0 | ▲ 100% |
| Change in cash | - | €379k | €168k | €-1.12M | €-89k | ▲ 92.0% |
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
10-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-06
Financial
Highest result since 2019net €464k ▲60.7%
Net result €464k, the highest in the series.
30-06
Financial
Equity above €2MEq €2.35M ▲24.6%
7 profitable years in a row build equity to €2.35M.
27-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
11-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
18-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
06-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-06
Financial
Equity above €1MEq €1.25M ▲27.1%
3 profitable years in a row build equity to €1.25M.
14-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-06
Financial
Weakest financial yearnet €177k ▼6.5%
Net result drops to €177k, the lowest in the series; recovery starts the following year.
14-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
09-01
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
05-01
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
28-01
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 2 acts read
About the unread acts
We know of 2 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
2 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, Herselt · 1 establishment unit since 1996
Ground area
923 m²
Building footprint
189 m²
Volume, LiDAR
955 m³
Parcel 13013B0534/00G000, Flanders · tallest building 8.7 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
MICHAS
since 19962.077.514.722
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13013B0534/00G000 | Flanders | 923 m² | 1 · 189 m² | 8.7 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.
Recognitions · licences · registrations
Legal Entity Identifier
967600XSYP7NNU071C83
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Of 4,564 companies in sector 74999 we hold annual accounts for 1,936. 504 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 (pre-2019)
Founded25-06-1996
Fiscal year end30-06
Activities, NACEBEL 2025
74999Other professional, scientific and technical activities
Scores and ratios are computed by Checked and are not a credit decision.