Summary
The computed 12-month bankruptcy probability of MICHEL DIFFUSION is 1.5% (moderate). The 2024 annual accounts show equity of €143,832 and a net result of €422. Equity is growing by ~5.9% per year across the filed fiscal years. The company has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
No current score
Figures too old
The available figures for FY 2024 are too old to assess current financial health.
Axes, FY 2024 · tick = 2023
Profitability64▼-6
Solvency43▼-1
Growth52=
Track record100
Bankruptcy probability, 12 months
1.5%
Moderate
0%0.5%1.5%4%10%≥ 25%
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+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 49
Relative position
BE, all sectors
reference
Land transport and transport via pipelines (NACE 49)
about 141% more bankruptcies
← 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 2024Solvency, return and age of the figures
Solvency
17.8%
Return on assets
0.1%
Age of the figures
27 mo
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
neutral · Filed after the deadline
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 16-02-2026, 16 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 9 filingsDeviation from the deadline
2025
16 d late
2024
6 d late
2023
50 d late
2022
3 d late
2021
4 d late
2020
67 d late
2019
94 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 34 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 49% of the sector filed late.
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. Usually files around 6 February (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-06-2026 close30-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2024, abbreviated schema
Turnover
€2.3m
EBIT margin
0.8%
Net result
€422▼ 95.3%
2023 · €9,046
Working capital
-€13,348
2023 · €43,655
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 49, Land transport and transport via pipelines, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Turnover€2.3m
Operating result€10,274▼ 46.8%€26,718▲ 160%€19,289▼ 27.8%€10,451▼ 45.8%€24,052▲ 130%
Net result€10,043within the sector's middle half▼ 48.0%€7,723within the sector's middle half▼ 23.1%€6,508within the sector's middle half▼ 15.7%€9,046within the sector's middle half▲ 39.0%€422below the sector's middle half▼ 95.3%
EBIT margin0.8%
Equity€120,134within the sector's middle half▲ 9.1%€127,857below the sector's middle half▲ 6.4%€134,365below the sector's middle half▲ 5.1%€143,411below the sector's middle half▲ 6.7%€143,832below the sector's middle half▲ 0.3%
Total assets€145,883below the sector's middle half▼ 20.7%€553,301below the sector's middle half▲ 279%€638,765below the sector's middle half▲ 15.4%€774,085within the sector's middle half▲ 21.2%€809,402within the sector's middle half▲ 4.6%
Debt€25,749▼ 65.1%€425,444▲ 1,552%€504,400▲ 18.6%€630,674▲ 25.0%€665,570▲ 5.5%
Working capital€14,987within the sector's middle half▼ 78.8%€40,648within the sector's middle half▲ 171%€32,403within the sector's middle half▼ 20.3%€43,655within the sector's middle half▲ 34.7%-€13,348below the sector's middle half
Solvency82.3%above the sector's middle half▲ 22.5pp23.1%within the sector's middle half▼ 59.2pp21.0%within the sector's middle half▼ 2.1pp18.5%below the sector's middle half▼ 2.5pp17.8%below the sector's middle half▼ 0.8pp
Current ratio1.58within the sector's middle half▼ 0.371.10within the sector's middle half▼ 0.481.07within the sector's middle half▼ 0.031.07within the sector's middle half=0.98below the sector's middle half▼ 0.09
Return on assets (ROA)6.9%within the sector's middle half▼ 3.6pp1.4%within the sector's middle half▼ 5.5pp1.0%within the sector's middle half▼ 0.4pp1.2%within the sector's middle half▲ 0.1pp0.1%below the sector's middle half▼ 1.1pp
Staff (FTE)8.3within the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 49, Land transport and transport via pipelines, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 130% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €809,402
Fixed assets
€157,180 ▲ 57.6%
Current assets
€652,222 ▼ 3.3%
Equity and liabilities €809,402
Equity
€143,832 ▲ 0.3%
Debt
€665,570 ▲ 5.5%
Debt's share of the balance-sheet total rises from 81.5% to 82.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€38,307▲
2023 · €21,578
Cash flow
€14,677▼
2023 · €20,174
Debt to equity
4.63▲
2023 · 4.40
ROE
0.3%▼
2023 · 6.3%
Interest coverage
5.41▼
2023 · 15.36
Debt ≤ 1 year
€665,570▲
2023 · €630,674
Income taxes
€16,559
Staff costs
€337,855▼
2023 · €363,643
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | - | - | €2.3m | - | - | - |
| Non-recurring operating income76A | - | - | - | - | €1,500 | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | €1.9m | - | - | - |
| Remuneration, social security and pensions62 | - | - | €324,067 | €363,643 | €337,855 | ▼ 7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,405 | €9,016 | €15,007 | €11,128 | €14,255 | ▲ 28.1% |
| Other operating charges640/8 | - | - | €31,945 | €39,840 | €38,806 | ▼ 2.6% |
| Gross operating margin9900 | €132,294 | €289,826 | €390,308 | €425,061 | €414,968 | ▼ 2.4% |
| Operating profit (loss)9901 | €10,274 | €26,718 | €19,289 | €10,451 | €24,052 | ▲ 130% |
| Financial income75/76B | - | - | €1 | €0 | €15 | ▲ 49,300% |
| Recurring financial income75 | - | - | €1 | €0 | €15 | ▲ 49,300% |
| Financial charges65/66B | - | - | €856 | €1,405 | €7,086 | ▲ 404% |
| Recurring financial charges65 | €231 | €963 | €856 | €1,405 | €7,086 | ▲ 404% |
| Profit (loss) for the period before taxes9903 | €10,043 | €25,755 | €18,434 | €9,046 | €16,981 | ▲ 87.7% |
| Income taxes67/77 | - | €18,032 | €11,926 | - | €16,559 | - |
| Profit (loss) for the period9904 | €10,043 | €7,723 | €6,508 | €9,046 | €422 | ▼ 95.3% |
| Profit (loss) for the period to be appropriated9905 | €10,043 | €7,723 | €6,508 | €9,046 | €422 | ▼ 95.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €145,883 | €553,301 | €638,765 | €774,085 | €809,402 | ▲ 4.6% |
| Fixed assets21/28 | €105,147 | €96,131 | €110,884 | €99,756 | €157,180 | ▲ 57.6% |
| Tangible fixed assets22/27 | €22,647 | €13,631 | €28,384 | €17,256 | €74,680 | ▲ 333% |
| Furniture and vehicles24 | - | - | €28,384 | €17,256 | €74,680 | ▲ 333% |
| Financial fixed assets28 | €82,500 | €82,500 | €82,500 | €82,500 | €82,500 | = |
| Current assets29/58 | €40,736 | €457,170 | €527,881 | €674,329 | €652,222 | ▼ 3.3% |
| Amounts receivable within one year40/41 | €19,846 | €387,247 | €441,937 | €585,403 | €649,700 | ▲ 11.0% |
| Trade receivables40 | - | - | €436,382 | €551,549 | €600,285 | ▲ 8.8% |
| Other amounts receivable41 | - | - | €5,555 | €33,854 | €49,415 | ▲ 46.0% |
| Cash at bank and in hand54/58 | €20,542 | €68,475 | €80,975 | €86,353 | €2,522 | ▼ 97.1% |
| Deferred charges and accrued income490/1 | - | - | €4,969 | €2,574 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €145,883 | €553,301 | €638,765 | €774,085 | €809,402 | ▲ 4.6% |
| Equity10/15 | €120,134 | €127,857 | €134,365 | €143,411 | €143,832 | ▲ 0.3% |
| Contributions10/11 | €18,700 | - | €20,560 | €20,560 | €20,560 | = |
| Outside capital11 | - | - | €20,560 | €20,560 | €20,560 | = |
| Other1109/19 | - | - | €20,560 | €20,560 | €20,560 | = |
| Reserves13 | €1,860 | - | - | - | - | - |
| Profit (loss) carried forward14 | €99,574 | €107,297 | €113,805 | €122,851 | €123,272 | ▲ 0.3% |
| Amounts payable17/49 | €25,749 | €425,444 | €504,400 | €630,674 | €665,570 | ▲ 5.5% |
| Amounts payable after more than one year17 | - | €8,922 | €8,922 | - | - | - |
| Financial debts170/4 | - | - | €8,922 | - | - | - |
| Amounts payable within one year42/48 | €25,749 | €416,522 | €495,478 | €630,674 | €665,570 | ▲ 5.5% |
| Current portion of amounts payable after more than one year42 | - | - | €13,544 | - | €47,660 | - |
| Trade debts44 | €13,575 | €291,434 | €422,015 | €617,611 | €596,910 | ▼ 3.4% |
| Suppliers440/4 | - | - | €422,015 | €617,611 | €596,910 | ▼ 3.4% |
| Taxes, remuneration and social security45 | - | - | €18,644 | €13,063 | €20,999 | ▲ 60.7% |
| Taxes450/3 | - | - | €12,323 | €5,806 | €13,742 | ▲ 137% |
| Remuneration and social security454/9 | - | - | €6,321 | €7,258 | €7,258 | = |
| Other amounts payable47/48 | - | - | €41,275 | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €10,043 | €7,723 | €6,508 | €9,046 | €422 | ▼ 95.3% |
| + Depreciation and write-downs630 | €9,405 | €9,016 | €15,007 | €11,128 | €14,255 | ▲ 28.1% |
| Operating cash flow (approximation) | €19,448 | €16,739 | €21,515 | €20,174 | €14,677 | ▼ 27.2% |
| Investment in fixed assets (approximation) | - | €0 | -€29,760 | €0 | -€71,679 | ▼ 15,582,565% |
| Change in cash | - | €47,933 | €12,500 | €5,378 | -€83,830 | ▼ 1,659% |
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
11-03
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 16 days late
16-02
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 16 days late
2025
06-02
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 6 days late
2024
30-06
Financial
Weakest financial yearnet €422 ▼95.3%
Net result drops to €422, the lowest in the series.
21-03
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 50 days late
2023
03-02
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 3 days late
2022
04-02
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 4 days late
2021
08-04
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 67 days late
2020
04-05
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 94 days late
2019
27-03
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 55 days late
2018
27-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 147 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
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, Ternat · 1 establishment unit since 2015
Ground area
4,032 m²
Parcel 23086A0419/00M000, Flanders. Linked by address, not a title deed.
1 establishment unit
Preflexbaan 401, 1740 Ternat
since 20152.317.409.479
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23086A0419/00M000 | Flanders | 4,032 m² | - | - |
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
Parcel delivery
Notified to the BIPT
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Of 12,582 companies in sector 49410 we hold annual accounts for 8,205. 6,375 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
Founded05-08-2013
Fiscal year end30-06
Activities, NACEBEL 2025
49410Freight transport by road
E-invoicing
Reachable via Peppol
Peppol ID
0208:0537274486
Registered
08-01-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.