MICHIELS
InactiveInactive; last annual accounts for fiscal year 2022.
Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-12-2023, 3 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 10 filingsPosition against the passed deadline
31-12-2023 close31-07-2024 deadline29-09-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2022 was due by 31-07-2023 and was filed on 28-07-2023, 3 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
3 d early
2021
18 d late
2020
24 d late
2019
31 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 4 accounts on average 18 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
Financials · fiscal year 2022, abbreviated schema
Equity
€910,246
2021 · -€147,918
Total assets
€965,069▲ 332%
2021 · €223,355
Net result
€1.1m
2021 · -€309,656
Working capital
€910,246
2021 · -€284,499
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20182019202020212022
Operating result-€19,445--€79,844▼ 311%-€86,037▼ 7.8%-€303,194▼ 252%-€86,658▲ 71.4%
Net result-€29,830--€92,425▼ 210%-€217,416▼ 135%-€309,656▼ 42.4%€1.1m
Equity€471,579-€379,154▼ 19.6%€161,738▼ 57.3%-€147,918€910,246
Total assets€1.2m-€982,207▼ 18.6%€701,794▼ 28.5%€223,355▼ 68.2%€965,069▲ 332%
Debt€735,503-€603,053▼ 18.0%€540,056▼ 10.4%€371,272▼ 31.3%€54,822▼ 85.2%
Working capital-€136,109--€179,023▼ 31.5%-€130,936▲ 26.9%-€284,499▼ 117%€910,246
Staff (FTE)4.5-4.5=3.6▼ 20.0%1▼ 72.2%0.2▼ 80.0%
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 €86,658 in 2022 against €303,194 in 2021; the loss shrinks.
Balance-sheet composition
Equity and liabilities €965,069
Equity
€910,246
Debt
€54,822
Debt finances 5.7% of the balance-sheet total.
Key figures and ratios
Current ratio
17.60▲
2021 · 0.23
Debt to equity
0.06▲
2021 · -2.51
ROE
116.3%
ROA
109.6%▲
2021 · -138.6%
Debt ≤ 1 year
€54,822▼
2021 · €371,272
Income taxes
€463▲
2021 · €443
Staff costs
€7,164▼
2021 · €47,512
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €47,512 | €7,164 | ▼ 84.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €73,952 | €73,283 | €55,000 | €5,771 | - | - |
| Other operating charges640/8 | - | - | - | €3,482 | €1,262 | ▼ 63.7% |
| Non-recurring operating charges66A | - | - | - | €145,893 | - | - |
| Gross operating margin9900 | €238,919 | €152,339 | €139,010 | -€100,536 | -€78,232 | ▲ 22.2% |
| Operating profit (loss)9901 | -€19,445 | -€79,844 | -€86,037 | -€303,194 | -€86,658 | ▲ 71.4% |
| Financial income75/76B | - | - | - | €1,883 | €1.1m | ▲ 60,919% |
| Recurring financial income75 | €1,222 | - | €4,498 | €1,883 | €1.1m | ▲ 60,919% |
| Financial charges65/66B | - | - | - | €7,902 | €3,974 | ▼ 49.7% |
| Recurring financial charges65 | €10,435 | €10,016 | €7,387 | €7,902 | €3,974 | ▼ 49.7% |
| Profit (loss) for the period before taxes9903 | -€28,658 | -€89,939 | -€216,752 | -€309,213 | €1.1m | ▲ 442% |
| Income taxes67/77 | €1,173 | €2,486 | €664 | €443 | €463 | ▲ 4.6% |
| Profit (loss) for the period9904 | -€29,830 | -€92,425 | -€217,416 | -€309,656 | €1.1m | ▲ 442% |
| Profit (loss) for the period to be appropriated9905 | -€29,830 | -€92,425 | -€217,416 | -€309,656 | €1.1m | ▲ 442% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.2m | €982,207 | €701,794 | €223,355 | €965,069 | ▲ 332% |
| Fixed assets21/28 | €674,725 | €595,026 | €312,200 | €136,581 | - | - |
| Tangible fixed assets22/27 | €538,383 | €458,685 | €175,858 | €240 | - | - |
| Furniture and vehicles24 | - | - | - | €240 | - | - |
| Financial fixed assets28 | €136,341 | €136,341 | €136,341 | €136,341 | - | - |
| Current assets29/58 | €532,358 | €387,181 | €389,594 | €86,774 | €965,069 | ▲ 1,012% |
| Stocks and contracts in progress3 | €205,847 | €168,750 | €84,928 | €3,643 | - | - |
| Stocks30/36 | - | - | - | €3,643 | - | - |
| Amounts receivable within one year40/41 | €116,889 | €193,088 | €24,431 | €56,514 | €71,250 | ▲ 26.1% |
| Trade receivables40 | - | - | - | €39,318 | - | - |
| Other amounts receivable41 | - | - | - | €17,196 | €71,250 | ▲ 314% |
| Cash at bank and in hand54/58 | €25,280 | €23,666 | €22,606 | €26,071 | €893,818 | ▲ 3,328% |
| Deferred charges and accrued income490/1 | - | - | - | €546 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.2m | €982,207 | €701,794 | €223,355 | €965,069 | ▲ 332% |
| Equity10/15 | €471,579 | €379,154 | €161,738 | -€147,918 | €910,246 | ▲ 715% |
| Contributions10/11 | €210,710 | €210,710 | €210,710 | €210,710 | €210,710 | = |
| Capital10 | - | - | - | €210,710 | €210,710 | = |
| Issued capital100 | - | - | - | €210,710 | €210,710 | = |
| Reserves13 | €260,870 | €168,445 | €21,071 | €21,071 | €21,071 | = |
| Non-distributable reserves130/1 | - | - | - | €21,071 | €21,071 | = |
| Legal reserve130 | - | - | - | €21,071 | €21,071 | = |
| Profit (loss) carried forward14 | - | - | -€70,042 | -€379,698 | €678,466 | ▲ 279% |
| Amounts payable17/49 | €735,503 | €603,053 | €540,056 | €371,272 | €54,822 | ▼ 85.2% |
| Amounts payable after more than one year17 | €50,819 | €28,690 | €5,832 | - | - | - |
| Amounts payable within one year42/48 | €668,467 | €566,204 | €520,530 | €371,272 | €54,822 | ▼ 85.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | €9,316 | - | - |
| Financial debts43 | - | - | - | €30,430 | - | - |
| Credit institutions430/8 | - | - | - | €30,430 | - | - |
| Trade debts44 | €171,352 | €104,453 | €89,136 | €58,607 | €545 | ▼ 99.1% |
| Suppliers440/4 | - | - | - | €58,607 | €545 | ▼ 99.1% |
| Taxes, remuneration and social security45 | - | - | - | €64,477 | €14,361 | ▼ 77.7% |
| Taxes450/3 | - | - | - | €61,127 | €14,361 | ▼ 76.5% |
| Remuneration and social security454/9 | - | - | - | €3,350 | - | - |
| Other amounts payable47/48 | - | - | - | €208,443 | €39,917 | ▼ 80.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€29,830 | -€92,425 | -€217,416 | -€309,656 | €1.1m | ▲ 442% |
| + Depreciation and write-downs630 | €73,952 | €73,283 | €55,000 | €5,771 | - | - |
| Operating cash flow (approximation) | €44,122 | -€19,143 | -€162,416 | -€303,885 | €1.1m | ▲ 448% |
| Investment in fixed assets (approximation) | - | €6,416 | €227,826 | €169,848 | - | - |
| Change in cash | - | -€1,614 | -€1,060 | €3,465 | €867,748 | ▲ 24,942% |
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
2023
28-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Back to profitnet €1.1m
Net result €1.1m after 4 loss-making years.
31-12
Financial
Liquidity times 75current ratio 17.60
Current ratio from 0.23 to 17.60; short-term debt falls from €371,272 to €54,822.
31-12
Financial
Equity above €500,000Eq €910,246
Equity rises from -€147,918 to €910,246.
18-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 18 days late
2021
31-12
Financial
Weakest financial yearnet -€309,656
Net result drops to -€309,656, the lowest in the series.
24-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 24 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
02-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
10-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
30-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 30 days late
2015
26-08
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema · 26 days late
2014
11-09
NBB filing
Annual accounts filed
fiscal year 2013 · abbreviated schema · 42 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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Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 31-12-2022 list no shareholders, and no other source names one.
Holdings 1
-
81%
According to the 2022 annual accounts of MICHIELS and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.