Financials
- Fiscal year
- 2024
- Total assets
- €4.7m
- Profit
- €1.1m
- Solvency
- 5.6%
Total assets▲ 65.0%
Net result
20182024
Michiels
ActiveSummary
The computed 12-month bankruptcy probability of Michiels is 2.0% (moderate). The 2024 annual accounts show equity of €260,109 and a net result of €1.1m. Equity is growing by ~13% per year across the filed fiscal years. Its solvency ranks better than 22% of 9733 sector peers (fiscal year 2024). The company has been active since 1986 and the Belgian State Gazette contains no insolvency or warning signals.
Overview
Activity
Development of residential building projects
NACE 68121General construction of residential buildings NACE 41001Real estate development NACE 41101
1 site
Size
€4.7mtotal assets 2024
- Staff
- 1.5 FTE
- Equity
- €260,109
- Profit
- €1.1m
Turnover not published (abridged schema)
Structure
Accounts 66 d overdue0 of 8 deeds read
Why 54- Liquidity: current ratio 1.05, cash €32,089- Figures for FY 2024 (filed 05-11-2025)- Equity €260,109 (5.6% of total assets)+ Founded in 1986Show the evidence
Checked score
Score 2024
54
/ 100
Fair
Probability in this band: 1.5% to 4.2%
Better than 46% of its sector peers (NACE 68, micro)
Performance against the sector, not lower risk
Financial strength · tick = 2023
Weak
Solvency
31-2
equity 5.6% of total assets
Liquidity
1-4
short-term debt 94.4% · cash 0.7%
Profitability
99+66
return on assets 24.0%
Bankruptcy probability, 12 months
2.0%
Moderate
0%0.5%1.5%4%10%≥ 25%
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
11-2024: 2.5%
12-2024: 2.9%▲ +15.2% vs 11-2024
01-2025: 5.1%▲ +76.1% vs 12-2024highest value
02-2025: 1.0%▼ -80.1% vs 01-2025
03-2025: 1.2%▲ +14.5% vs 02-2025
04-2025: 1.2%▲ +3.9% vs 03-2025
05-2025: 1.2%▼ -0.2% vs 04-2025
06-2025: 1.5%▲ +25.2% vs 05-2025
07-2025: 1.8%▲ +18.5% vs 06-2025
08-2025: 2.1%▲ +14.3% vs 07-2025
09-2025: 2.4%▲ +15.5% vs 08-2025
10-2025: 3.0%▲ +25.4% vs 09-2025
11-2025: 2.8%▼ -5.1% vs 10-2025
12-2025: 0.6%▼ -78.1% vs 11-2025
01-2026: 0.6%▼ -0.6% vs 12-2025lowest value
02-2026: 0.6%▲ +2.0% vs 01-2026
03-2026: 0.6%▼ -1.1% vs 02-2026
04-2026: 0.6%▲ +4.7% vs 03-2026
05-2026: 0.7%▲ +2.0% vs 04-2026
06-2026: 0.8%▲ +24.1% vs 05-2026
07-2026: 0.9%▲ +6.2% vs 06-2026
08-2026: 1.3%▲ +50.6% vs 07-2026
09-2026: 1.5%▲ +16.7% vs 08-2026
10-2026: 2.0%▲ +27.5% vs 09-2026
- Liquidity: current ratio 1.05, cash €32,089 raises the probability
- Figures for FY 2024 (filed 05-11-2025) raises the probability
- Founded in 1986 lowers the probability for this profile
- Equity €260,109 (5.6% of total assets) raises the probability
Credit up to €14,000 at 30 days only on tighter terms
Liquidity tight (current ratio 1.05 against 1.15 in 2023; short-term debt: 94.4% and cash: 0.7% of total assets), and 94.4% of the assets are financed with debt.
How it is calculated
The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.
| 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% |
Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 68, micro). Better than this share of them on solvency 26%, liquidity 4%, profitability 90%, growth against the median 65%. That is performance, not lower risk; the band itself always comes from the probability.
Bankruptcy probability: model pd-v3.202610021621, computed on 04-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.
Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 22% of 9733 sector peers (2024).
NBB · sector comparisonPosition among 9733 sector peers
Solvency
better than 22%
← weakest
strongest →
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 04-11-2025, 96 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
96 d late
2023
166 d late
2022
78 d late
2021
25 d late
2020
29 d late
2019
28 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 70 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (1)
- Annual accounts filedfiscal year 2024 · abbreviated…
- Annual accounts filedfiscal year 2023 · abbreviated…
- Highest result since 2018net €1.1m ▲4,287%
Key points
By topic
Timeline
- Events
- 13
- Since
- 2015
- 04-11-2025Annual accounts filed
- 13-01-2025Annual accounts filed
- 31-12-2024Highest result since 2018
Company details
- Sites
- 1
- Legal form
- Private limited company
- Activity
- Development of residential building projectsNACE 68121
- Founded
- 30-06-1986
- Year ends
- 31-12
- Peppol
- Reachable for e-invoices
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