Equity
€251,854 ▲ 1.2%
MICHEMATIC ELECTRO has made a profit in every financial year since 2011.
MICHEMATIC ELECTRO
Lifetime
15 annual accounts with figures on one time axisGross marginpeak €210,796 (2011)
€142,880▼ 19.5%
Resultpeak €46,249 (2012)
€2,930▼ 79.6%
Equitypeak €251,854 (2025)
€251,854▲ 1.2%
Debts
€260,904▼ 11.9%
Staffpeak 5 FTE (2021)
-not published
Board1 name since 2022
1 directorKarl Mortier
Documentsfilings and deeds
03-02-20263 days late
2025micro format
Gross margin from €177,470 to €142,880Result from €14,345 to €2,930Cash from €17,870 to €0
Key points
from the 2025 annual accountsTurnover
≈ €420,000 estimated
The micro format states no turnover.
Staff
1 FTE from 5 in 2021
Between 2021 and 2025, 80% of the full-time equivalents disappeared.
Liquidity
2.58 was 1.91 in 2024
Short-term debts fell from €121,526 to €95,904.
Filings
15 annual accounts since 2011
Four of the last ten came late. The 2023 accounts came latest: 15 days after the end of the period.
Position in the sector
€251,854
More equity than 88% of companies in specialised construction. Sector median €57,762 · 35,072 companies.
Checked score
68
Healthy
Financially stronger than 38% of micro companies in specialised construction (NACE 43)
Probability in this band: 0.55% to 1.5%
Bankruptcy probability within 12 months
0.7% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.7% across 47,692 companies (NACE 43, micro).
About 7 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.2%lowest value
01-2025: 0.3%▲ +0.1 percentage points vs 12-2024
02-2025: 0.2%▼ -0.1 percentage points vs 01-2025
03-2025: 0.2%● unchanged vs 02-2025
04-2025: 0.2%● unchanged vs 03-2025
05-2025: 0.2%● unchanged vs 04-2025
06-2025: 0.2%● unchanged vs 05-2025
07-2025: 0.2%● unchanged vs 06-2025
08-2025: 0.2%● unchanged vs 07-2025
09-2025: 0.2%● unchanged vs 08-2025
10-2025: 0.2%● unchanged vs 09-2025
11-2025: 0.2%● unchanged vs 10-2025
12-2025: 0.3%▲ +0.1 percentage points vs 11-2025
01-2026: 0.4%▲ +0.1 percentage points vs 12-2025
02-2026: 0.6%▲ +0.2 percentage points vs 01-2026
03-2026: 0.7%▲ +0.1 percentage points vs 02-2026
04-2026: 0.7%● unchanged vs 03-2026
05-2026: 0.7%● unchanged vs 04-2026
06-2026: 0.7%● unchanged vs 05-2026
07-2026: 0.7%● unchanged vs 06-2026
08-2026: 0.7%● unchanged vs 07-2026
09-2026: 0.7%● unchanged vs 08-2026
10-2026: 0.7%● unchanged vs 09-2026highest value
11-2026: 0.7%● unchanged vs 10-2026highest value
Financial strengthAverage
Score breakdown
raises risk
Liquidity: current ratio 2.58, cash €0, halved
Sector: Specialised construction activities (NACE 43)
lowers risk
Founded in 2009
Size: total assets €566,666
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 43, micro). It does better than 48% of them on solvency, 36% on liquidity, 29% on profitability and 38% on growth.
The bankruptcy probability was computed on 05-11-2026 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.
The probability rests on the annual accounts with balance sheet date 30-06-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
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).
Comparable companies, two years later
In July 2024, 10,904 companies had the same profile as MICHEMATIC ELECTRO has now. Each dot stands for 28 companies, two years later.
95.2%
were still trading
4.0%
stopped another way
0.7%
went bankrupt
That fits the bankruptcy probability of MICHEMATIC ELECTRO itself: 0.7% within 12 months.
Test of the method
The method was tested on the 497,447 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 10,904 companies, not a prediction for MICHEMATIC ELECTRO. 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.
Credit verdict
Credit of up to €17,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 2.58 (1.91 in 2024), above the usual 1.5. Short-term debt is 16.9% and cash 0% of total assets. However, 55.6% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises risk
raises risk · 2025 accounts filed 3 days late
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 03-02-2026, 3 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
3 days late
2024
17 days early
2023
15 days late
2022
14 days late
2021
on the day
2020
6 days early
2019
12 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 3 days after the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The financial year that closed on 30-06-2026 is due by 31-01-2027. Nothing is late today. The company usually files around 3 February (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
30-06-2026 year end06-11-2026 today31-01-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0821467363
Change of role: Karl Mortier, from manager to director
Director discharge: Karl Mortier · General meeting of 28-06-2023 · Gazette deed
First establishment
Venecolaan 36, Aalter
Incorporation
published on 24-12-2009 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | Total assets | Gross margin | Solvency | Staff |
|---|---|---|---|---|
| MICHEMATIC ELECTRO Aalter | €566,666 | €142,880 | 44.4% | - |
| RESULT LIGHTING Temse | €606,387 | €168,078 | 44.9% | - |
| ANELEC Evergem | €502,469 | €145,580 | 60.6% | - |
| SANIDOO Lierde | €597,360 | €147,869 | 90.8% | - |
| ELECTRO J&C Ghent | €583,591 | €112,013 | 75.5% | - |
| MOERMAN TORRE TECHNIEKEN Evergem | €507,541 | €151,998 | 47.4% | 3.8 |
| ALYATECH Meerhout | €539,189 | €131,164 | 66.4% | - |
These companies have the same main activity as MICHEMATIC ELECTRO: general electrical installation work (NACE 43211). They are comparable in size and age: total assets between €502,000 and €606,000, founded between 2006 and 2012.
Official details
Source: KBO- Status
- Active since 15-12-2009Normal situation
- Activity
- General electrical installation workNACE 43211
- Establishment unit
- 2.184.201.4589880 Aalter, since 19-01-2010
- Financial year end
- 30 June
- Peppol
- Reachable since 02-09-2023
Annual accounts to 30-06-2025
- Total assets
- €566,666▼ 5.4%
- Employeeson 30-06-2025
- 1=
- Filing
- Filed on 03-02-2026
Insights on MICHEMATIC ELECTRO
MICHEMATIC ELECTRO files the micro format. That format states no turnover. The gross margin fell from €210,796 in 2011 to €142,880 in 2025.
The balance sheet grew most from 2014 to 2016 through fixed assets, financed with long-term debt.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about MICHEMATIC ELECTRO
- What is the company number of MICHEMATIC ELECTRO?
- The company number of MICHEMATIC ELECTRO is 0821.467.363. The VAT number is the same number with BE in front: BE 0821.467.363.
- Where is MICHEMATIC ELECTRO based?
- The registered office is at Houtem 19, 9880 Aalter.Company details
- What does MICHEMATIC ELECTRO do?
- According to the KBO register, the main activity is general electrical installation work (NACE 43211).
- What is the legal form of MICHEMATIC ELECTRO?
- MICHEMATIC ELECTRO is a private limited company (BV).
- When was MICHEMATIC ELECTRO founded?
- MICHEMATIC ELECTRO was founded on 15-12-2009.
- Is MICHEMATIC ELECTRO still active?
- Yes, MICHEMATIC ELECTRO is an active enterprise in the KBO register.
- How many employees does MICHEMATIC ELECTRO have?
- MICHEMATIC ELECTRO had an average of 1 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- What is the turnover of MICHEMATIC ELECTRO?
- The turnover in financial year 2025 is ≈ €420,000. This figure is estimated from the gross margin of €142,880 and 38 comparable companies (NACE 43211). It probably lies between €290,000 and €520,000.
- Is MICHEMATIC ELECTRO profitable?
- In financial year 2025, MICHEMATIC ELECTRO made a profit of €2,930.
- Where can I find the annual accounts of MICHEMATIC ELECTRO?
- MICHEMATIC ELECTRO filed 15 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of MICHEMATIC ELECTRO due?
- MICHEMATIC ELECTRO must file the annual accounts for financial year 2026 by 31-01-2027.Timeline
Next steps
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