Michiels
ActiveSummary
Michiels has been active since 1994 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €203k and a net result of €-3k. Equity remains stable across the filed fiscal years (±0.8% per year). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability34▼-6
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €13k at 30 days acceptable
short-term debt: 0.1% and cash: 12% of total assets, and 0.1% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Three 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
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 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
28 d late
2024
79 d early
2023
on the day
2022
5 d early
2021
46 d early
2020
on the day
2019
32 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2025, abbreviated schema
Equity
€203k▼ 1.3%
2024 · €205k
Total assets
€203k▼ 1.2%
2024 · €205k
Net result
€-3k
2024 · €2k
Working capital
€149k▼ 3.6%
2021 · €154k
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
Line20212022202320242025
Operating result€-6k▼ 133%€-3k▲ 39.6%€-1k▲ 69.8%€2k€-2k
Net result€-6k▼ 127%€-4k▲ 37.3%€-1k▲ 67.7%€2k€-3k
Equity€208k▼ 2.8%€204k▼ 1.8%€203k▼ 0.6%€205k▲ 1.1%€203k▼ 1.3%
Total assets€211k▼ 1.5%€204k▼ 3.1%€203k▼ 0.6%€205k▲ 1.1%€203k▼ 1.2%
Debt€3k€300
Working capital€154k€149k
Staff (FTE)
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €2k after €2k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €203k
Fixed assets
€54k =
Current assets
€149k ▼ 1.6%
Equity and liabilities €203k
Equity
€203k
Debt
€300
Debt finances 0.1% of the balance-sheet total.
Key figures and ratios
Debt to equity
0.00
ROE
-1.4%▼
2024 · 1.1%
ROA
-1.4%▼
2024 · 1.1%
Debt ≤ 1 year
€300
A ratio outside any meaningful range has been withheld (balance sheet total €203k, equity €203k).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Other operating charges640/8 | - | €3k | €406 | €766 | €923 | ▲ 20.5% |
| Gross operating margin9900 | €766 | €-200 | €-649 | €3k | €-1k | ▼ 147% |
| Operating profit (loss)9901 | €-6k | €-3k | €-1k | €2k | €-2k | ▼ 200% |
| Financial charges65/66B | - | €247 | €150 | €170 | €369 | ▲ 117% |
| Recurring financial charges65 | €183 | €247 | €150 | €170 | €369 | ▲ 117% |
| Profit (loss) for the period before taxes9903 | €-6k | €-4k | €-1k | €2k | €-3k | ▼ 225% |
| Profit (loss) for the period9904 | €-6k | €-4k | €-1k | €2k | €-3k | ▼ 225% |
| Profit (loss) for the period to be appropriated9905 | €-6k | €-4k | €-1k | €2k | €-3k | ▼ 225% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €211k | €204k | €203k | €205k | €203k | ▼ 1.2% |
| Fixed assets21/28 | €54k | €54k | €54k | €54k | €54k | = |
| Tangible fixed assets22/27 | €54k | €54k | €54k | €54k | €54k | = |
| Land and buildings22 | - | €54k | €54k | €54k | €54k | = |
| Current assets29/58 | €157k | €150k | €149k | €151k | €149k | ▼ 1.6% |
| Amounts receivable within one year40/41 | €112k | €100k | €100k | €138k | €125k | ▼ 9.7% |
| Other amounts receivable41 | - | €100k | €100k | €138k | €125k | ▼ 9.7% |
| Cash at bank and in hand54/58 | €45k | €50k | €49k | €13k | €24k | ▲ 82.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €211k | €204k | €203k | €205k | €203k | ▼ 1.2% |
| Equity10/15 | €208k | €204k | €203k | €205k | €203k | ▼ 1.3% |
| Contributions10/11 | - | €42k | €42k | €42k | €42k | = |
| Reserves13 | €4k | €4k | €4k | €4k | €4k | = |
| Non-distributable reserves130/1 | - | €4k | €4k | €4k | €4k | = |
| Reserves not available under the articles1311 | - | €4k | €4k | €4k | €4k | = |
| Profit (loss) carried forward14 | €162k | €158k | €157k | €159k | €156k | ▼ 1.7% |
| Amounts payable17/49 | €3k | - | - | - | €300 | - |
| Amounts payable within one year42/48 | €3k | - | - | - | €300 | - |
| Trade debts44 | €3k | - | - | - | €300 | - |
| Suppliers440/4 | - | - | - | - | €300 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-6k | €-4k | €-1k | €2k | €-3k | ▼ 225% |
| Operating cash flow (approximation) | €-6k | €-4k | €-1k | €2k | €-3k | ▼ 225% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €5k | €-1k | €-36k | €11k | ▲ 131% |
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
2026
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 28 days late
2025
10-02
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-09
Financial
Back to profitnet €2k
Net result €2k after 4 loss-making years.
30-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
25-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
15-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-09
Financial
Weakest financial yearnet €-6k
Net result drops to €-6k, the lowest in the series; recovery starts the following year.
30-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
01-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 32 days late
2019
30-09
Financial
Highest result since 2018net €35k ▲254%
Operating result €56k, net result €35k, both a record.
30-09
Financial
Liquidity doublescurrent ratio 3.33
Current ratio from 1.66 to 3.33; short-term debt falls from €94k to €70k.
30-09
Financial
Equity above €200kEq €217k ▲19.3%
2 profitable years in a row build equity to €217k.
Show earlier events
21-03
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
20-03
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
07-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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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Directors · office · real estate
Directors
5 acts for this company are 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, Waasmunster · 1 establishment unit since 1994
Ground area
1.3 ha
Building footprint
923 m²
Volume, LiDAR
7,132 m³
Parcel 42023A1078/00G000, Flanders · tallest building 13.6 m, ±3 floors. Linked by address, not a title deed.
14
companies at this address
See who is registered here
1 establishment unit
Fazantenlaan 17, 9250 Waasmunster
since 19942.068.476.696
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42023A1078/00G000 | Flanders | 1.3 ha | 1 · 923 m² | 13.6 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Identification & contact
Identification
Legal formPrivate limited company
Founded16-09-1994
Fiscal year end31-12
Scores and ratios are computed by Checked and are not a credit decision.