MICHEL
ActiveMICHEL has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €622k and a net result of €76k. Equity is growing by ~10.8% per year across the filed fiscal years. Its solvency ranks better than 48% of 9017 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2024
89
/ 100
Excellent▲ +2 vs 2023
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability61▲+20
Solvency67▼-19
Growth78=
Stability100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €55k at 30 days acceptable
Liquidity tight (current ratio 1.12 against 2.13 in 2023), and 57.9% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 06-11-2025, 98 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
98 d late
2023
121 d late
2022
53 d late
2021
75 d late
2020
97 d late
2019
91 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, abbreviated schema
Equity
€622k▲ 14.0%
2023 · €545k
2018: €331k
2019: €368k
2020: €491k
2021: €543k
2022: €501k
2023: €545k
2018 → 2024
Total assets
€1.48M▲ 12.8%
2023 · €1.31M
2018: €852k
2019: €833k
2020: €938k
2021: €1.01M
2022: €1.18M
2023: €1.31M
2018 → 2024
Net result
€76k▲ 71.2%
2023 · €45k
2018: €-202k
2019: €37k
2020: €122k
2021: €124k
2022: €-42k
2023: €45k
2018 → 2024
Working capital
€89k▼ 77.5%
2023 · €394k
2018: €335k
2019: €395k
2020: €595k
2021: €477k
2022: €512k
2023: €394k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€491k-€543k▲ 10.7%€501k▼ 7.8%€545k▲ 8.9%€622k▲ 14.0%
Operating result€102k-€202k▲ 97.1%€-37k€57k€119k▲ 109%
Net result€122k-€124k▲ 1.8%€-42k€45k€76k▲ 71.2%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 109% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.48M
Fixed assets
€659k▲ 17.0%
Current assets
€816k▲ 9.7%
Equity and liabilities €1.48M
Equity
€622k▲ 14.0%
Debt
€854k▲ 12.0%
The debt ratio falls from 58.3% to 57.9%: equity grows faster than debt.
Key figures and ratios
EBITDA
€178k▲
2023 · €81k
Cash flow
€136k▲
2023 · €69k
Solvency
42.1%▲
2023 · 41.7%
Current ratio
1.12▼
2023 · 2.13
Quick ratio
1.03▼
2023 · 1.95
Debt / equity
1.37▼
2023 · 1.40
ROE
12.3%▲
2023 · 8.2%
ROA
5.2%▲
2023 · 3.4%
Interest coverage
12.87▲
2023 · 9.53
Debt
€854k▲
2023 · €762k
Debt ≤ 1 year
€728k▲
2023 · €350k
Debt > 1 year
€42k▼
2023 · €63k
Income taxes
€30k▲
2023 · €4k
Staff costs
€567k▲
2023 · €520k
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 · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€1.31M€1.48M▲
Fixed assets21/28€563k€659k▲
Intangible fixed assets21-€50k
Tangible fixed assets22/27€183k€229k▲
Land and buildings22€5k€4k▼
Plant, machinery and equipment23€39k€118k▲
Furniture and vehicles24€128k€102k▼
Other tangible fixed assets26€12k€5k▼
Financial fixed assets28€380k€380k=
Current assets29/58€744k€816k▲
Stocks and contracts in progress3€63k€66k▲
Stocks30/36€63k€66k▲
Amounts receivable within one year40/41€594k€620k▲
Trade receivables40€424k€392k▼
Other amounts receivable41€169k€229k▲
Cash at bank and in hand54/58€46k€99k▲
Deferred charges and accrued income490/1€42k€31k▼
Equity and liabilities
Total equity and liabilities10/49€1.31M€1.48M▲
Equity10/15€545k€622k▲
Contributions10/11€242k€242k=
Reserves13€303k€380k▲
Non-distributable reserves130/1€24k€24k=
Reserves not available under the articles1311€24k€24k=
Distributable reserves133€279k€356k▲
Amounts payable17/49€762k€854k▲
Amounts payable after more than one year17€63k€42k▼
Financial debts170/4€63k€42k▼
Amounts payable within one year42/48€350k€728k▲
Current portion of amounts payable after more than one year42€22k€20k▼
Financial debts43€21k-
Credit institutions430/8€21k-
Trade debts44€248k€630k▲
Suppliers440/4€248k€630k▲
Taxes, remuneration and social security45€58k€77k▲
Taxes450/3€8k€37k▲
Remuneration and social security454/9€50k€40k▼
Accrued charges and deferred income492/3€349k€84k▼
Income statement
Code20232024
Remuneration, social security and pensions62€520k€567k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€24k€59k▲
Other operating charges640/8€13k€7k▼
Gross operating margin9900€615k€752k▲
Operating profit (loss)9901€57k€119k▲
Financial income75/76B€2€1k▲
Recurring financial income75€2€1k▲
Financial charges65/66B€9k€14k▲
Recurring financial charges65€9k€14k▲
Profit (loss) for the period before taxes9903€48k€106k▲
Income taxes67/77€4k€30k▲
Profit (loss) for the period9904€45k€76k▲
Profit (loss) for the period to be appropriated9905€45k€76k▲
Appropriation of the result
Profit (loss) to be appropriated9906€2k€76k▲
Profit (loss) brought forward from the previous period14P€-42k-
Transfer to equity691/2€2k€76k▲
To other reserves6921€2k€76k▲
Social balance
Average headcount (FTE)90878.98.4▼
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
2025
06-11
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 98 days late
2024
29-11
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 121 days late
2023
31-12
Financial
Back to profitnet €45k
Net result €45k after one loss-making year.
22-09
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 53 days late
2022
14-10
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 75 days late
2021
31-12
Financial
Highest result since 2018net €124k ▲1.8%
Operating result €202k, net result €124k, both a record.
31-12
Financial
Equity above €500kEq €543k ▲10.7%
3 profitable years in a row build equity to €543k.
05-11
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 97 days late
2020
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 91 days late
2019
31-12
Financial
Back to profitnet €37k
Net result €37k after one loss-making year.
21-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 21 days late
2018
29-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 29 days late
2017
04-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 4 days late
2016
26-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 26 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, Haacht · 1 establishment unit since 1992
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.
Bessemhoefweg 43150 HaachtGround area
12.1 ha
Building footprint
8,060 m²
Volume, LiDAR
76,897 m³
2 parcels, Brussels, Flanders · tallest building 11.7 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
MICHEL NV
since 19922.055.621.822
2 parcels
Flanders
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21813E0110/00G002 | Brussels | 12.0 ha | 1 · 6,817 m² | 11.7 m · 3 fl. |
| 24033B0093/00E003 | Flanders | 1,233 m² | 1 · 1,243 m² | 8.4 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2024 · 2 entries · 1,337 EUR awarded · 1,107 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 785 EUR | 555 EUR |
| 2022 | 1 | 552 EUR | 552 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Food safety, FASFC
1 siteBrussel2.055.621.822
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Of 949 companies in sector 46319 we hold annual accounts for 603. 426 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded19-12-1991
Fiscal year end31-12
Activities, NACEBEL
46319Wholesale of fruit and vegetables, excluding potatoes
51310
Sources
Crossroads Bank for EnterprisesNational Bank · 33 filingsAddress and cadastre registers
Data from official sources, last processed on 13-09-2026. Scores and ratios are computed by Checked and are not a credit decision.