Michiels
ActiveMichiels has been active since 1985 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show negative equity (€-2k) and a net result of €-2k. Equity is shrinking by ~38.5% per year across the filed fiscal years. Its solvency ranks better than 10% of 9039 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
42
/ 100
Weak
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability18▲+4
Solvency24▼-1
Growth58=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.99 against 0.99 in 2023; short-term debt: 100.5% and cash: 0.9% of total assets), and equity is negative.
Credit advice for your own amount and term
Signals
Seven 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 · 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
-0.5%
Return on assets
-0.7%
Age of the figures
21 mo
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 · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year €-2k
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 31-08-2025, 31 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 · 10 filingsDeviation from the deadline
2025
not confirmed
2024
31 d late
2023
29 d late
2022
56 d late
2021
24 d late
2020
30 d late
2019
31 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, abbreviated schema
Equity
€-2k
2023 · €603
2018: €59k
2019: €44k
2020: €42k
2021: €28k
2022: €16k
2023: €603
2018 → 2024
Total assets
€365k▼ 5.1%
2023 · €385k
2018: €305k
2019: €352k
2020: €328k
2021: €338k
2022: €366k
2023: €385k
2018 → 2024
Net result
€-2k▲ 84.1%
2023 · €-16k
2018: €-18k
2019: €-15k
2020: €-2k
2021: €-14k
2022: €-12k
2023: €-16k
2018 → 2024
Working capital
€-4k▼ 67.8%
2023 · €-2k
2018: €58k
2019: €43k
2020: €42k
2021: €28k
2022: €12k
2023: €-2k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€42k-€28k▼ 33.9%€16k▼ 42.2%€603▼ 96.3%€-2k
Operating result€1k-€-15k€-12k▲ 21.4%€-15k▼ 30.7%€-2k▲ 85.6%
Net result€-2k-€-14k▼ 724%€-12k▲ 17.6%€-16k▼ 31.6%€-2k▲ 84.1%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €2k in 2024 against €15k in 2023; the loss shrinks.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €365k
Fixed assets
€2k▼ 30.5%
Current assets
€363k▼ 4.9%
Key figures and ratios
EBITDA
€-88▲
2023 · €-14k
Cash flow
€-379▲
2023 · €-14k
Solvency
-0.5%▼
2023 · 0.2%
Current ratio
0.99▼
2023 · 0.99
Quick ratio
0.93▲
2023 · 0.90
ROA
-0.7%▲
2023 · -4.0%
Interest coverage
-0.21▲
2023 · -21.58
Debt
€367k▼
2023 · €384k
Debt ≤ 1 year
€367k▼
2023 · €384k
A ratio outside any meaningful range has been withheld (balance sheet total €365k, equity €-2k).
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€385k€365k▼
Fixed assets21/28€3k€2k▼
Tangible fixed assets22/27€3k€2k▼
Plant, machinery and equipment23-€867
Furniture and vehicles24€3k€1k▼
Current assets29/58€382k€363k▼
Stocks and contracts in progress3€37k€21k▼
Stocks30/36€37k€21k▼
Amounts receivable within one year40/41€340k€338k▼
Trade receivables40€130k€118k▼
Other amounts receivable41€209k€220k▲
Cash at bank and in hand54/58€4k€3k▼
Deferred charges and accrued income490/1€224€227▲
Equity and liabilities
Total equity and liabilities10/49€385k€365k▼
Equity10/15€603€-2k▼
Contributions10/11€2k€2k=
Reserves13€16k€16k=
Non-distributable reserves130/1€322€322=
Reserves not available under the articles1311€322€322=
Distributable reserves133€16k€16k=
Profit (loss) carried forward14€-18k€-21k▼
Amounts payable17/49€384k€367k▼
Amounts payable within one year42/48€384k€367k▼
Trade debts44€233k€226k▼
Suppliers440/4€233k€226k▼
Advances received on contracts in progress46€37€37=
Taxes, remuneration and social security45€143€2k▲
Taxes450/3€143€2k▲
Other amounts payable47/48€151k€139k▼
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2k€2k▲
Other operating charges640/8€317€118▼
Gross operating margin9900€-13k€30▲
Operating profit (loss)9901€-15k€-2k▲
Financial income75/76B€197€139▼
Recurring financial income75€197€139▼
Financial charges65/66B€628€430▼
Recurring financial charges65€628€430▼
Profit (loss) for the period before taxes9903€-16k€-2k▲
Profit (loss) for the period9904€-16k€-2k▲
Profit (loss) for the period to be appropriated9905€-16k€-2k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-18k€-21k▼
Profit (loss) brought forward from the previous period14P€-3k€-18k▼
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
31-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 31 days late
2024
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 29 days late
2023
25-09
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 56 days late
2022
24-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 24 days late
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 30 days late
2020
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 31 days late
2019
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 29 days late
2018
20-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 20 days late
2017
22-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 22 days late
2016
26-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 26 days late
NBB filing
Directors · office · real estate
Directors
1 act for this company is 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, Dessel · 1 establishment unit since 1985
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.
Kastelsedijk 422480 DesselGround area
3,289 m²
Building footprint
1,280 m²
Volume, LiDAR
10,641 m³
Parcel 13006F0004/00X003, Flanders · tallest building 12.8 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Kastelsedijk 42, 2480 Dessel
since 19852.027.856.462
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13006F0004/00X003 | Flanders | 3,289 m² | 1 · 1,280 m² | 12.8 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel 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 · 2 entries · 4,500 EUR awarded · 4,500 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 2 | 4,500 EUR | 4,500 EUR |
Schemes
Subsidies voor internationaal ondernemen
Recognitions · licences · registrations
Food safety, FASFC
1 siteDessel2.027.856.462
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KN YOGA LIFE
BE 0645.936.064
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BV Padel
BE 0754.688.011
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Of 584 companies in sector 46496 we hold annual accounts for 384. 14 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formCoöperatieve vennootschap met beperkte aansprakelijkheid
Founded11-06-1985
Fiscal year end31-12
Activities, NACEBEL
46496Wholesale trade
51476
47639Retail sale of other sporting goods
47640Retail trade
52482
Sources
Crossroads Bank for EnterprisesNational Bank · 37 filingsAddress and cadastre registers
Data from official sources, last processed on 22-09-2026. Scores and ratios are computed by Checked and are not a credit decision.