MICHCOM
Annual accounts 2025
micro format, filed on 18-12-2025, 133 days before the deadlineTurnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €110,000. Estimated: probably between €92,000 and €130,000.
Balance sheet
balance sheet total €237,461 on 30-09-2025in euro
in euro
Position in the sector
55.9%
Higher than 46% of 21,206 companies in 2025.
2.12
Higher than 45% of 20,569 companies in 2025.
15.0%
Higher than 44% of 20,744 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: top quarter
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||||||
20/58 |
237,461 | 216,282 | 168,934 | 152,958 | 137,204 | 76,355 | 67,677 | 69,038 | 51,214 | 48,781 | 52,777 | 53,226 | 60,253 | 45,190 | 41,589 | 40,960 | 46,521 | |
21/28 |
14,897 | 4,889 | 4,671 | 6,068 | 2,286 | 3,851 | 3,287 | 5,079 | 3,629 | 953 | 14,382 | 19,335 | 32,205 | 13,382 | 19,426 | 23,553 | 25,682 | |
22/27 |
14,897 | 4,889 | 4,671 | 6,068 | 2,286 | 3,851 | 3,287 | 5,079 | 3,629 | 953 | 14,382 | 19,335 | 32,205 | 13,382 | 19,426 | 23,553 | 25,682 | |
23 |
3,296 | 2,107 | 2,473 | 3,074 | 706 | - | - | - | - | - | - | - | - | 160 | 320 | 479 | 640 | |
24 |
8,416 | 2,783 | 2,199 | 2,994 | 1,580 | 3,161 | 1,906 | 3,007 | 866 | 953 | 14,382 | 19,335 | 32,205 | 13,222 | 19,106 | 23,074 | 25,042 | |
26 |
3,185 | - | - | - | - | 691 | 1,381 | 2,072 | 2,763 | - | - | - | - | - | - | - | - | |
29/58 |
222,564 | 211,393 | 164,263 | 146,891 | 134,918 | 72,504 | 64,390 | 63,959 | 47,585 | 47,828 | 38,395 | 33,891 | 28,048 | 31,808 | 22,163 | 17,407 | 20,839 | |
3 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 6,080 | 6,404 | |
37 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 6,080 | 6,404 | |
40/41 |
39,058 | 22,776 | 16,940 | 12,547 | 18,906 | 20,976 | 35,827 | 33,535 | 21,038 | 26,291 | 23,396 | 22,148 | 22,193 | 14,742 | 16,881 | 1,651 | 1,999 | |
40 |
23,880 | 19,528 | 9,455 | 10,308 | 16,979 | 19,687 | 34,599 | 33,453 | 20,728 | 20,043 | 18,979 | 18,768 | 19,395 | 13,207 | 12,966 | - | - | |
41 |
15,179 | 3,248 | 7,485 | 2,239 | 1,928 | 1,289 | 1,228 | 82 | 310 | 6,248 | 4,417 | 3,380 | 2,798 | 1,535 | 3,915 | 1,651 | 1,999 | |
54/58 |
182,413 | 187,988 | 146,685 | 133,731 | 114,923 | 51,449 | 28,499 | 30,424 | 26,392 | 21,537 | 14,999 | 11,743 | 5,855 | 17,066 | 5,282 | 9,676 | 12,436 | |
490/1 |
1,093 | 629 | 638 | 613 | 1,088 | 80 | 63 | - | 155 | - | - | - | - | - | - | - | - | |
| Balance sheet: equity and liabilities | ||||||||||||||||||
10/49 |
237,461 | 216,282 | 168,934 | 152,958 | 137,204 | 76,355 | 67,677 | 69,038 | 51,214 | 48,781 | 52,777 | 53,226 | 60,253 | 45,190 | 41,589 | 40,960 | 46,521 | |
10/15 |
132,651 | 196,701 | 151,630 | 121,553 | 100,501 | 73,220 | 59,716 | 52,771 | 43,441 | 35,929 | 22,544 | 18,729 | 21,588 | 17,079 | 9,416 | 14,886 | 17,254 | |
10/11 |
1 | 1 | 1 | 1 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | |
13 |
132,650 | 196,700 | 151,629 | 121,552 | 80,090 | 52,810 | 39,360 | 28,360 | 19,360 | 11,860 | 1,860 | 1,860 | 1,860 | 1,860 | 350 | 350 | 350 | |
130/1 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 350 | 350 | 350 | |
1311 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | - | - | - | |
133 |
130,790 | 194,840 | 149,769 | 119,692 | 78,230 | 50,950 | 37,500 | 26,500 | 17,500 | 10,000 | - | - | - | - | - | - | - | |
14 |
- | - | - | - | 8,011 | 8,010 | 7,956 | 12,011 | 11,681 | 11,669 | 8,284 | 4,469 | 7,328 | 2,819 | -3,334 | 2,136 | 4,504 | |
17/49 |
104,811 | 19,582 | 17,304 | 31,406 | 36,703 | 3,136 | 7,961 | 16,267 | 7,773 | 12,852 | 30,233 | 34,497 | 38,665 | 28,111 | 32,173 | 26,074 | 29,267 | |
17 |
- | - | - | - | - | - | - | - | - | - | 12,190 | 16,653 | 24,995 | 12,408 | 18,674 | 13,364 | 11,723 | |
170/4 |
- | - | - | - | - | - | - | - | - | - | 12,190 | 16,653 | 24,995 | 12,408 | 18,674 | 13,364 | 11,723 | |
42/48 |
104,811 | 19,582 | 17,304 | 31,406 | 36,703 | 3,136 | 7,961 | 16,267 | 7,773 | 12,852 | 18,043 | 17,844 | 13,670 | 15,703 | 11,420 | 12,710 | 17,544 | |
42 |
- | - | - | - | - | - | - | - | - | - | 4,463 | 4,326 | 6,314 | 6,267 | 5,937 | 5,904 | 5,307 | |
43 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 2,533 | |
430/8 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 2,533 | |
44 |
3,558 | 1,184 | 929 | 3,515 | 11,622 | 61 | 543 | 5,624 | - | 554 | 758 | 588 | 344 | 1,160 | 805 | 464 | 3,820 | |
440/4 |
3,558 | 1,184 | 929 | 3,515 | 11,622 | 61 | 543 | 5,624 | - | 554 | 758 | 588 | 344 | 1,160 | 805 | 464 | 3,820 | |
45 |
7,839 | 7,947 | 7,824 | 20,766 | 15,581 | 3,075 | 7,418 | 10,538 | 7,773 | 12,298 | 9,822 | 12,930 | 7,012 | 7,801 | 4,278 | 6,190 | 4,272 | |
450/3 |
7,839 | 7,947 | 7,824 | 20,766 | 15,581 | 3,075 | 7,418 | 10,538 | 7,773 | 12,298 | 9,822 | 12,930 | 7,012 | 7,801 | 2,578 | 4,790 | 4,272 | |
454/9 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 1,700 | 1,400 | - | |
47/48 |
93,413 | 10,450 | 8,550 | 7,125 | 9,500 | - | - | 105 | - | - | 3,000 | - | - | 475 | 400 | 152 | 1,612 | |
492/3 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 2,079 | - | - | |
| Income statement | ||||||||||||||||||
76A |
- | - | - | - | - | - | - | - | - | 507 | - | - | 341 | - | - | - | - | |
9900 |
53,125 | 81,112 | 58,294 | 70,116 | 59,755 | 24,668 | 21,934 | 21,614 | 16,237 | 23,173 | 18,719 | 21,459 | 18,967 | 19,251 | 33,518 | 15,025 | 19,454 | |
630 |
1,571 | 1,293 | 1,396 | 2,430 | 2,506 | 2,636 | 1,792 | 2,212 | 1,447 | 717 | 4,954 | 4,954 | 8,418 | 4,613 | 5,603 | 6,238 | 7,520 | |
640/8 |
644 | 908 | 866 | 621 | 850 | 500 | 662 | 1,203 | 713 | 1,287 | 908 | 1,389 | 1,046 | 1,192 | 4,394 | 3,081 | 1,147 | |
66A |
- | - | - | - | 1,931 | - | - | - | - | - | - | 5,583 | - | 847 | 24,656 | 2,942 | - | |
9901 |
50,910 | 78,911 | 56,032 | 67,065 | 54,468 | 21,532 | 19,479 | 18,199 | 14,076 | 21,170 | 12,857 | 15,116 | 9,503 | 13,446 | 23,521 | 5,706 | 10,787 | |
75/76B |
243 | 185 | 180 | 119 | 124 | 85 | 42 | - | 252 | 269 | 268 | 230 | 145 | 17 | 5 | 14 | 5 | |
75 |
243 | 185 | 180 | 119 | 124 | 85 | 29 | - | 252 | 269 | 268 | 230 | 145 | 17 | 5 | 14 | 5 | |
76B |
- | - | - | - | - | - | 13 | - | - | - | - | - | - | - | - | - | - | |
65/66B |
944 | 1,313 | 1,729 | 464 | 1,113 | 1,331 | 1,558 | 1,856 | 1,611 | 1,577 | 647 | 3,542 | 2,447 | 1,304 | 4,339 | 2,690 | 1,448 | |
65 |
944 | 1,313 | 1,729 | 464 | 1,113 | 1,331 | 1,558 | 1,856 | 1,611 | 1,577 | 647 | 3,542 | 2,447 | 1,304 | 4,339 | 2,690 | 1,448 | |
9903 |
50,209 | 77,783 | 54,483 | 66,720 | 53,479 | 20,285 | 17,963 | 16,342 | 12,718 | 20,369 | 12,478 | 6,221 | 7,542 | 11,312 | -5,469 | 88 | 9,344 | |
67/77 |
14,568 | 21,712 | 15,406 | 17,758 | 16,198 | 6,782 | 6,518 | 7,012 | 5,206 | 6,984 | 5,663 | 3,080 | 3,033 | 3,649 | 1 | 844 | 2,878 | |
9904 |
35,641 | 56,071 | 39,077 | 48,962 | 37,281 | 13,504 | 11,445 | 9,330 | 7,512 | 13,385 | 6,815 | 3,141 | 4,509 | 7,663 | -5,470 | -756 | 6,466 | |
9905 |
35,641 | 56,071 | 39,077 | 48,962 | 37,281 | 13,504 | 11,445 | 9,330 | 7,512 | 13,385 | 6,815 | 3,141 | 4,509 | 7,663 | -5,470 | -756 | 6,466 | |
| Appropriation of the result | ||||||||||||||||||
9906 |
35,641 | 56,071 | 39,077 | 56,972 | 45,291 | 21,460 | 23,456 | 21,011 | 19,181 | 21,669 | 11,284 | 10,469 | 7,328 | 4,329 | -3,334 | 3,748 | 6,466 | |
14P |
- | - | - | 8,011 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
791/2 |
99,692 | 11,000 | 9,000 | 7,500 | 10,000 | - | - | - | - | - | - | - | - | - | - | - | - | |
691/2 |
35,641 | 56,071 | 39,077 | 48,962 | 37,280 | 13,450 | 11,000 | 9,000 | 7,500 | 10,000 | - | - | - | 1,510 | - | - | 350 | |
6920 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 1,510 | - | - | 350 | |
6921 |
35,641 | 56,071 | 39,077 | 48,962 | 37,280 | 13,450 | 11,000 | 9,000 | 7,500 | 10,000 | - | - | - | - | - | - | - | |
694/7 |
99,692 | 11,000 | 9,000 | 15,511 | 10,000 | - | 4,500 | - | - | - | 3,000 | 6,000 | - | - | - | 1,612 | 1,612 | |
694 |
99,692 | 11,000 | 9,000 | 15,511 | 10,000 | - | 4,500 | - | - | - | 3,000 | 6,000 | - | - | - | 1,612 | 1,612 | |
| Document | ||||||||||||||||||
The notes to these accounts have 6 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 18-12-2025.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 18-12-2025 | 2025-00584524 | |
| 30-09-2024 | micro format | 14-03-2025 | 2025-00047806 | |
| 30-09-2023 | micro format | 27-02-2024 | 2024-00034702 | |
| 30-09-2022 | micro format | 01-03-2023 | 2023-00033459 | |
| 30-09-2021 | micro format | 17-03-2022 | 2022-07800367 | |
| 30-09-2020 | micro format | 22-02-2021 | 2021-05800206 | |
| 30-09-2019 | micro format | 24-02-2020 | 2020-05500206 | |
| 30-09-2018 | micro format | 06-03-2019 | 2019-06500599 | |
| 30-09-2017 | micro format | 07-03-2018 | 2018-06400396 | |
| 30-09-2016 | abbreviated format | 02-03-2017 | 2017-05700131 | |
| 30-09-2015 | abbreviated format | 23-02-2016 | 2016-04900248 | |
| 30-09-2014 | abbreviated format | 05-03-2015 | 2015-05700226 | |
| 30-09-2013 | abbreviated format | 29-04-2014 | 2014-10600061 | |
| 30-09-2012 | abbreviated format | 08-03-2013 | 2013-06000409 | |
| 30-09-2011 | abbreviated format | 14-03-2012 | 2012-06200333 | |
| 30-09-2010 | abbreviated format | 10-03-2011 | 2011-05600425 | |
| 30-09-2009 | abbreviated format | 11-03-2010 | 2010-06500189 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 52,482 | 80,204 | 57,429 | 69,495 | 56,974 | 24,168 | 21,271 | 20,411 | 15,523 | 21,886 | 17,811 | 20,070 | 17,921 | 18,059 | 29,124 | 11,944 | 18,307 | ||
| 37,213 | 57,364 | 40,474 | 51,392 | 39,787 | 16,140 | 13,237 | 11,543 | 8,959 | 14,102 | 11,769 | 8,095 | 12,927 | 12,276 | 133 | 5,482 | 13,986 | ||
| 8,396 | 1,512 | 0 | 6,212 | 941 | 3,200 | 0 | 3,663 | 4,122 | 1,260 | 1 | 23,287 | 39,570 | 917 | 50,736 | 24,201 | 33,202 | ||
| -5,575 | 41,304 | 12,954 | 18,808 | 63,475 | 22,950 | -1,925 | 4,033 | 4,855 | 6,538 | 3,256 | 5,888 | -11,211 | 11,784 | -4,394 | -2,760 | - | ||
| 117,754 | 191,811 | 146,959 | 115,485 | 98,214 | 69,368 | 56,429 | 47,692 | 39,812 | 34,976 | 20,352 | 16,047 | 14,378 | 16,105 | 10,743 | 4,697 | 3,295 | ||
| 55.9% | 90.9% | 89.8% | 79.5% | 73.2% | 95.9% | 88.2% | 76.4% | 84.8% | 73.7% | 42.7% | 35.2% | 35.8% | 37.8% | 22.6% | 36.3% | 37.1% | ||
| 2.12 | 10.80 | 9.49 | 4.68 | 3.68 | 23.12 | 8.09 | 3.93 | 6.12 | 3.72 | 2.13 | 1.90 | 2.05 | 2.03 | 1.94 | 1.37 | 1.19 | ||
| 2.12 | 10.80 | 9.49 | 4.68 | 3.68 | 23.12 | 8.09 | 3.93 | 6.12 | 3.72 | 2.13 | 1.90 | 2.05 | 2.03 | 1.94 | 0.89 | 0.82 | ||
| 0.79 | 0.10 | 0.11 | 0.26 | 0.37 | 0.04 | 0.13 | 0.31 | 0.18 | 0.36 | 1.34 | 1.84 | 1.79 | 1.65 | 3.42 | 1.75 | 1.70 | ||
| 26.9% | 28.5% | 25.8% | 40.3% | 37.1% | 18.4% | 19.2% | 17.7% | 17.3% | 37.3% | 30.2% | 16.8% | 20.9% | 44.9% | -58.1% | -5.1% | 37.5% | ||
| 15.0% | 25.9% | 23.1% | 32.0% | 27.2% | 17.7% | 16.9% | 13.5% | 14.7% | 27.4% | 12.9% | 5.9% | 7.5% | 17.0% | -13.2% | -1.8% | 13.9% | ||
| 55.57 | 61.10 | 33.22 | over 100 | - | - | - | - | - | - | - | - | - | - | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Investments
fixed assets acquired| Item | 30-09-2025 | 30-09-2024 | 30-09-2023 | 30-09-2022 |
|---|---|---|---|---|
| Tangible fixed assets | €8,396 | €1,512 | - | €6,212 |
| €1,571 | €1,293 | €1,396 | €2,430 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Insights on MICHCOM
The operating result for 2025 is 35% lower than in 2024 and the lowest since 2020.
Debt's share of the balance-sheet total rises from 9.1% to 44.1%. Equity is lower and debt is higher.