MICHEL DIFFUSION
ActiveSummary
The computed 12-month bankruptcy probability of MICHEL DIFFUSION is 3.0% (moderate). The 2025 annual accounts show equity of €176,615 and a net result of €32,782. Equity has been growing by about 6% per year since 2019. Its solvency ranks better than 27% of 1,081 sector peers (NACE 49, financial year 2025). The company has been active since 2013 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 05-08-2013 Normal situation
- Activity
- Freight transport by road NACE 49410
- Establishment unit
- 2.317.409.479 1740 Ternat, since 07-12-2015
- Financial year end
- 30 June
- Peppol
- Reachable since 08-01-2026
Financial position
- Bankruptcy probabilitywithin 12 months
- 3.0%
- Gross margin
- €377,738
- ▼ 9.0%
- Turnover
- ≈ €810,000
- estimated
- Profit
- €32,782
- ▲ 78×
- Equity
- €176,615
- ▲ 22.8%
- Total assets
- €856,241
- ▲ 5.8%
- Staff
- 8.3 FTE
- =
- 2025 accounts filed 16 days after the deadline
Score breakdownraises riskLiquidity: current ratio 1.08Last filed accounts filed 40 days late; 1 of the last 3 accounts lateSector: Land transport and transport via pipelines (NACE 49)Equity €176,615 (20.6% of total assets)Show the evidence
Checked score
About 3 in 100 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 49, micro). It does better than 32% of them on solvency, 16% on liquidity, 51% on profitability and 68% on growth.
The bankruptcy probability was computed on 03-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 34 days after the deadline. In the sector (NACE 49), the median for financial year 2024 was on the deadline day, and 49% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, full format
2025 annual accounts filed 16 days after the deadline Filed on 16 February 2026, deadline 31 January 2026 (7 months after the close on 30 June 2025, Companies Code art. 3:10). Source: NBB, 2026-00039162.
Annual accounts 2025 filed on 11-03-2026 at the NBB Annual accounts 2025 (PDF) all 12 filings
Every figure per financial year
The operating result for 2025 is 94% higher than in 2024 and the highest since 2021. It is the second rise in a row, after the fall in 2023.
Staff
| Item | 30-06-2024 | 30-06-2025 |
|---|---|---|
| Employees at the balance-sheet date | 9 | - |
| full-time | 7 | - |
| part-time | 2 | - |
| in full-time equivalents | 8 | - |
| Average over the year, in full-time equivalents | 8.3 | 6.9 |
| On a permanent contract | 9 | 9 |
| Joined | 2 | 3 |
| Left | 4 | 3 |
Source: social balance sheet in the 2024 to 2025 annual accounts
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €31,260 | - | €71,679 | €35,165 |
| Depreciation and write-downs of the year | €15,007 | €11,128 | €14,255 | €25,263 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | €2.3m | - | - | - | - |
| Non-recurring operating income76A | - | - | - | - | - | €0.002m | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €1.9m | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €0.3m | €0.4m | €0.3m | €0.2m | ▼ 27.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.009m | €0.009m | €0.009m | €0.02m | €0.01m | €0.01m | €0.03m | ▲ 77.2% |
| Other operating charges640/8 | - | - | - | €0.03m | €0.04m | €0.04m | €0.06m | ▲ 54.3% |
| Gross operating margin9900 | €0.1m | €0.1m | €0.3m | €0.4m | €0.4m | €0.4m | €0.4m | ▼ 9.0% |
| Operating profit (loss)9901 | €0.02m | €0.01m | €0.03m | €0.02m | €0.01m | €0.02m | €0.05m | ▲ 94.5% |
| Financial income75/76B | - | - | - | €1 | €0 | €15 | €0.003m | ▲ 171× |
| Recurring financial income75 | - | - | - | €1 | €0 | €15 | €0.003m | ▲ 171× |
| Financial charges65/66B | - | - | - | €0.001m | €0.001m | €0.007m | €0.009m | ▲ 33.7% |
| Recurring financial charges65 | €16 | €231 | €0.001m | €0.001m | €0.001m | €0.007m | €0.009m | ▲ 33.7% |
| Profit (loss) for the period before taxes9903 | €0.02m | €0.01m | €0.03m | €0.02m | €0.009m | €0.02m | €0.04m | ▲ 135% |
| Income taxes67/77 | - | - | €0.02m | €0.01m | - | €0.02m | €0.007m | ▼ 57.4% |
| Profit (loss) for the period9904 | €0.02m | €0.01m | €0.008m | €0.007m | €0.009m | €422 | €0.03m | ▲ 78× |
| Profit (loss) for the period to be appropriated9905 | €0.02m | €0.01m | €0.008m | €0.007m | €0.009m | €422 | €0.03m | ▲ 78× |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €183,917 | €145,883 | €553,301 | €638,765 | €774,085 | €809,402 | €856,241 | ▲ 5.8% |
| Fixed assets21/28 | €39,552 | €105,147 | €96,131 | €110,884 | €99,756 | €157,180 | €167,082 | ▲ 6.3% |
| Tangible fixed assets22/27 | €32,052 | €22,647 | €13,631 | €28,384 | €17,256 | €74,680 | €84,582 | ▲ 13.3% |
| Furniture and vehicles24 | - | - | - | €28,384 | €17,256 | €74,680 | €84,582 | ▲ 13.3% |
| Financial fixed assets28 | €7,500 | €82,500 | €82,500 | €82,500 | €82,500 | €82,500 | €82,500 | = |
| Current assets29/58 | €144,365 | €40,736 | €457,170 | €527,881 | €674,329 | €652,222 | €689,159 | ▲ 5.7% |
| Amounts receivable within one year40/41 | €140,471 | €19,846 | €387,247 | €441,937 | €585,403 | €649,700 | €689,159 | ▲ 6.1% |
| Trade receivables40 | - | - | - | €436,382 | €551,549 | €600,285 | €686,348 | ▲ 14.3% |
| Other amounts receivable41 | - | - | - | €5,555 | €33,854 | €49,415 | €2,811 | ▼ 94.3% |
| Cash at bank and in hand54/58 | €3,545 | €20,542 | €68,475 | €80,975 | €86,353 | €2,522 | - | - |
| Deferred charges and accrued income490/1 | - | - | - | €4,969 | €2,574 | - | - | - |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €183,917 | €145,883 | €553,301 | €638,765 | €774,085 | €809,402 | €856,241 | ▲ 5.8% |
| Equity10/15 | €110,091 | €120,134 | €127,857 | €134,365 | €143,411 | €143,832 | €176,615 | ▲ 22.8% |
| Contributions10/11 | €18,700 | €18,700 | - | €20,560 | €20,560 | €20,560 | €20,560 | = |
| Contributions outside capital11 | - | - | - | €20,560 | €20,560 | €20,560 | €20,560 | = |
| Other1109/19 | - | - | - | €20,560 | €20,560 | €20,560 | €20,560 | = |
| Reserves13 | €1,860 | €1,860 | - | - | - | - | - | - |
| Profit (loss) carried forward14 | €89,531 | €99,574 | €107,297 | €113,805 | €122,851 | €123,272 | €156,055 | ▲ 26.6% |
| Amounts payable17/49 | €73,826 | €25,749 | €425,444 | €504,400 | €630,674 | €665,570 | €679,626 | ▲ 2.1% |
| Amounts payable after more than one year17 | - | - | €8,922 | €8,922 | - | - | €40,184 | - |
| Financial debts170/4 | - | - | - | €8,922 | - | - | €40,184 | - |
| Amounts payable within one year42/48 | €73,826 | €25,749 | €416,522 | €495,478 | €630,674 | €665,570 | €639,442 | ▼ 3.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €13,544 | - | €47,660 | €57,051 | ▲ 19.7% |
| Financial debts43 | - | - | - | - | - | - | €1,383 | - |
| Credit institutions430/8 | - | - | - | - | - | - | €1,383 | - |
| Trade debts44 | €56,507 | €13,575 | €291,434 | €422,015 | €617,611 | €596,910 | €520,604 | ▼ 12.8% |
| Suppliers440/4 | - | - | - | €422,015 | €617,611 | €596,910 | €520,604 | ▼ 12.8% |
| Taxes, remuneration and social security45 | - | - | - | €18,644 | €13,063 | €20,999 | €60,404 | ▲ 188% |
| Taxes450/3 | - | - | - | €12,323 | €5,806 | €13,742 | €15,110 | ▲ 10.0% |
| Remuneration and social security454/9 | - | - | - | €6,321 | €7,258 | €7,258 | €45,294 | ▲ 524% |
| Other amounts payable47/48 | - | - | - | €41,275 | - | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €19,298 | €10,043 | €7,723 | €6,508 | €9,046 | €422 | €32,782 | ▲ 78× |
| + Depreciation and write-downs630 | €9,146 | €9,405 | €9,016 | €15,007 | €11,128 | €14,255 | €25,263 | ▲ 77.2% |
| Operating cash flow (approximation) | €28,444 | €19,448 | €16,739 | €21,515 | €20,174 | €14,677 | €58,045 | ▲ 295% |
| Investment in fixed assets (approximation) | - | -€75,000 | €0 | -€29,760 | €0 | -€71,679 | -€35,165 | ▲ 50.9% |
| Change in cash | - | €16,997 | €47,933 | €12,500 | €5,378 | -€83,830 | - | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 4,508 companies had the same profile as MICHEL DIFFUSION has now. Two years later, 96.9% were still going and 1.4% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
The bankruptcy probability of MICHEL DIFFUSION itself is higher: 3.0% within 12 months. It rests on far more data about MICHEL DIFFUSION than the profile alone.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 4,508 companies, not a prediction for MICHEL DIFFUSION. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 12 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | full format | 11-03-2026 | 2026-00052395 | |
| 30-06-2025 | abbreviated format | 16-02-2026 | 2026-00039162 | |
| 30-06-2024 | abbreviated format | 06-02-2025 | 2025-00029586 | |
| 30-06-2023 | abbreviated format | 21-03-2024 | 2024-00050184 | |
| 30-06-2022 | abbreviated format | 03-02-2023 | 2023-00023436 | |
| 30-06-2021 | abbreviated format | 04-02-2022 | 2022-05000320 | |
| 30-06-2020 | abbreviated format | 08-04-2021 | 2021-10000460 | |
| 30-06-2019 | abbreviated format | 04-05-2020 | 2020-11200480 | |
| 30-06-2018 | abbreviated format | 27-03-2019 | 2019-08000475 | |
| 30-06-2017 | abbreviated format | 27-06-2018 | 2018-24300106 |
Board & ownership
Directors
Owners and capital
Capital transactions
- 27-02-2024 Converted to unavailable equity · €20,560
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| CALLI Kadir |
|
Articles of association
- Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
- “Overdracht van aandelen, procedure- en expertisekosten helft overdrager helft koper(s) naar evenredigheid verworven aantal bij meerdere…”
Articles of association, deed of 27-02-2024 (in Dutch)
Network & group
MICHEL DIFFUSION shares no director with another company.
Connections & network
1 current directorThe network starts from the directors of MICHEL DIFFUSION. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
27-02
Gazette deed
Resignation: CALLI Kadir (manager)Reappointment: CALLI Kadir (director) · Amendment of the articles · Capital conversion8 points ▸
- General meeting, 22-12-2023
- Amendment of the articles, mentioned 2 times in the deed
- Capital conversion, “statutair onbeschikbare eigen vermogensrekening” (deed in Dutch)
- Reserve release, “overeenkomstig vormen en meerderheden van statutenwijziging, opheffen” (deed in Dutch)
- Capital
- Director resignation, CALLI Kadir (manager)
- Director reappointment, CALLI Kadir (director (not named in the articles))
- Registered office clause, “1740 Ternat,Preflexbaan 401” (deed in Dutch)
10-02
Gazette deed
Registered office moved from Merchtem to TernatNew seat: Preflexbaan n°401-1740 TERNAT · Previous seat: Brusselsesteenweg 220 - 1785 MERCHTEM2 points ▸
- General meeting, 01-02-2023
- Registered-office move, Preflexbaan n°401-1740 TERNAT
Show earlier events
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
1 former office
- Brusselsesteenweg 220, 1785 Merchtem until the act of 10-02-2023