MICHIELS
ActiveSummary
MICHIELS has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €694k and a net result of €32k. Equity is growing by ~6.8% per year across the filed fiscal years. Its solvency ranks better than 75% of 3136 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability72▼-2
Solvency88▲+3
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €50k at 30 days acceptable
Liquidity ample (current ratio 2.57 against 3.94 in 2024; short-term debt: 21.1% and cash: 6% of total assets), and 37.4% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 01
Relative position
BE, all sectors
reference
Crop and animal production, hunting and related service activities (NACE 01)
about 70% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
62.6%
Return on assets
2.9%
Age of the figures
15 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 16-12-2025, 46 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
46 d early
2024
35 d early
2023
16 d early
2022
4 d early
2021
41 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close25-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€694k▲ 4.9%
2024 · €661k
2021: €526klowest in 5 years
2022: €597k▲ +13.5% vs 2021
2023: €612k▲ +2.5% vs 2022
2024: €661k▲ +8.1% vs 2023
2025: €694k▲ +4.9% vs 2024highest in 5 years
2021 → 2025
Total assets
€1.11M▲ 1.2%
2024 · €1.09M
2021: €1.16M
2022: €1.18M▲ +1.2% vs 2021highest in 5 years
2023: €1.12M▼ -4.7% vs 2022
2024: €1.09M▼ -2.3% vs 2023lowest in 5 years
2025: €1.11M▲ +1.2% vs 2024
2021 → 2025
Net result
€32k▼ 34.7%
2024 · €50k
2021: €32k
2022: €71k▲ +120% vs 2021highest in 5 years
2023: €15k▼ -78.9% vs 2022lowest in 5 years
2024: €50k▲ +231% vs 2023
2025: €32k▼ -34.7% vs 2024
2021 → 2025
Working capital
€368k▼ 20.1%
2024 · €460k
2021: €466k
2022: €521k▲ +11.8% vs 2021highest in 5 years
2023: €510k▼ -2.0% vs 2022
2024: €460k▼ -9.8% vs 2023
2025: €368k▼ -20.1% vs 2024lowest in 5 years
2021 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€526k-€597k▲ 13.5%€612k▲ 2.5%€661k▲ 8.1%€694k▲ 4.9%
2021: €526klowest in 5 years
2022: €597k▲ +13.5% vs 2021
2023: €612k▲ +2.5% vs 2022
2024: €661k▲ +8.1% vs 2023
2025: €694k▲ +4.9% vs 2024highest in 5 years
Operating result€40k-€83k▲ 108%€22k▼ 73.1%€77k▲ 243%€50k▼ 35.0%
2021: €40k
2022: €83k▲ +108% vs 2021highest in 5 years
2023: €22k▼ -73.1% vs 2022lowest in 5 years
2024: €77k▲ +243% vs 2023
2025: €50k▼ -35.0% vs 2024
Net result€32k-€71k▲ 120%€15k▼ 78.9%€50k▲ 231%€32k▼ 34.7%
2021: €32k
2022: €71k▲ +120% vs 2021highest in 5 years
2023: €15k▼ -78.9% vs 2022lowest in 5 years
2024: €50k▲ +231% vs 2023
2025: €32k▼ -34.7% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 35% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.11M
Fixed assets
€506k ▲ 5.9%
Current assets
€602k ▼ 2.5%
Equity and liabilities €1.11M
Equity
€694k ▲ 4.9%
Debt
€414k ▼ 4.5%
Debt's share of the balance-sheet total falls from 39.6% to 37.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€127k▼
2024 · €155k
Cash flow
€110k▼
2024 · €128k
Current ratio
2.57▼
2024 · 3.94
Quick ratio
0.62▼
2024 · 0.96
Debt to equity
0.60▼
2024 · 0.66
ROE
4.7%▼
2024 · 7.5%
ROA
2.9%▼
2024 · 4.5%
Interest coverage
26.77▼
2024 · 26.94
Debt ≤ 1 year
€234k▲
2024 · €157k
Debt > 1 year
€178k▼
2024 · €275k
Income taxes
€13k▼
2024 · €22k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 51 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.09M€1.11M▲
Fixed assets21/28€478k€506k▲
Intangible fixed assets21€10k€8k▼
Tangible fixed assets22/27€467k€498k▲
Land and buildings22€302k€280k▼
Plant, machinery and equipment23€30k€23k▼
Furniture and vehicles24€123k€183k▲
Other tangible fixed assets26€12k€11k▼
Current assets29/58€617k€602k▼
Stocks and contracts in progress3€467k€457k▼
Stocks30/36€467k€457k▼
Amounts receivable within one year40/41€20k€63k▲
Trade receivables40€20k€42k▲
Other amounts receivable41€0€21k▲
Current investments50/53€9k€9k=
Cash at bank and in hand54/58€115k€67k▼
Deferred charges and accrued income490/1€6k€6k▲
Equity and liabilities
Total equity and liabilities10/49€1.09M€1.11M▲
Equity10/15€661k€694k▲
Contributions10/11€526k€526k=
Reserves13€135k€168k▲
Distributable reserves133€135k€168k▲
Profit (loss) carried forward14€9€9=
Amounts payable17/49€433k€414k▼
Amounts payable after more than one year17€275k€178k▼
Financial debts170/4€230k€163k▼
Other amounts payable178/9€45k€15k▼
Amounts payable within one year42/48€157k€234k▲
Current portion of amounts payable after more than one year42€77k€67k▼
Trade debts44€48k€155k▲
Suppliers440/4€48k€155k▲
Taxes, remuneration and social security45€23k€3k▼
Taxes450/3€23k€3k▼
Other amounts payable47/48€9k€9k=
Accrued charges and deferred income492/3€2k€2k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€78k€78k▼
Other operating charges640/8€7k€8k▲
Gross operating margin9900€162k€135k▼
Operating profit (loss)9901€77k€50k▼
Financial income75/76B€982€623▼
Recurring financial income75€982€623▼
Financial charges65/66B€6k€5k▼
Recurring financial charges65€6k€5k▼
Profit (loss) for the period before taxes9903€72k€46k▼
Income taxes67/77€22k€13k▼
Profit (loss) for the period9904€50k€32k▼
Profit (loss) for the period to be appropriated9905€50k€32k▼
Appropriation of the result
Profit (loss) to be appropriated9906€50k€32k▼
Profit (loss) brought forward from the previous period14P€9€9=
Transfer to equity691/2€50k€32k▼
To other reserves6921€50k€32k▼
The notes to these accounts (13 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €0 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €87k | €87k | €74k | €78k | €78k | ▼ 0.6% |
| Other operating charges640/8 | - | €6k | €6k | €7k | €8k | ▲ 10.7% |
| Gross operating margin9900 | €132k | €176k | €102k | €162k | €135k | ▼ 16.4% |
| Operating profit (loss)9901 | €40k | €83k | €22k | €77k | €50k | ▼ 35.0% |
| Financial income75/76B | - | €870 | €1k | €982 | €623 | ▼ 36.5% |
| Recurring financial income75 | €418 | €870 | €1k | €982 | €623 | ▼ 36.5% |
| Financial charges65/66B | - | €6k | €7k | €6k | €5k | ▼ 17.1% |
| Recurring financial charges65 | €8k | €6k | €7k | €6k | €5k | ▼ 17.1% |
| Profit (loss) for the period before taxes9903 | €32k | €78k | €17k | €72k | €46k | ▼ 36.4% |
| Income taxes67/77 | €218 | €7k | €2k | €22k | €13k | ▼ 40.2% |
| Profit (loss) for the period9904 | €32k | €71k | €15k | €50k | €32k | ▼ 34.7% |
| Profit (loss) for the period to be appropriated9905 | €32k | €71k | €15k | €50k | €32k | ▼ 34.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.16M | €1.18M | €1.12M | €1.09M | €1.11M | ▲ 1.2% |
| Fixed assets21/28 | €612k | €542k | €480k | €478k | €506k | ▲ 5.9% |
| Intangible fixed assets21 | €16k | €14k | €11k | €10k | €8k | ▼ 20.4% |
| Tangible fixed assets22/27 | €595k | €528k | €469k | €467k | €498k | ▲ 6.5% |
| Land and buildings22 | - | €346k | €324k | €302k | €280k | ▼ 7.2% |
| Plant, machinery and equipment23 | - | €36k | €26k | €30k | €23k | ▼ 23.2% |
| Furniture and vehicles24 | - | €131k | €106k | €123k | €183k | ▲ 49.6% |
| Other tangible fixed assets26 | - | €15k | €14k | €12k | €11k | ▼ 13.2% |
| Current assets29/58 | €551k | €634k | €640k | €617k | €602k | ▼ 2.5% |
| Stocks and contracts in progress3 | €491k | €515k | €514k | €467k | €457k | ▼ 2.1% |
| Stocks30/36 | - | €515k | €514k | €467k | €457k | ▼ 2.1% |
| Amounts receivable within one year40/41 | €12k | €15k | €67k | €20k | €63k | ▲ 209% |
| Trade receivables40 | - | €14k | €66k | €20k | €42k | ▲ 105% |
| Other amounts receivable41 | - | €2k | €899 | €0 | €21k | - |
| Current investments50/53 | €9k | €9k | €9k | €9k | €9k | = |
| Cash at bank and in hand54/58 | €34k | €89k | €45k | €115k | €67k | ▼ 41.9% |
| Deferred charges and accrued income490/1 | - | €5k | €5k | €6k | €6k | ▲ 3.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.16M | €1.18M | €1.12M | €1.09M | €1.11M | ▲ 1.2% |
| Equity10/15 | €526k | €597k | €612k | €661k | €694k | ▲ 4.9% |
| Contributions10/11 | - | €526k | €526k | €526k | €526k | = |
| Reserves13 | - | €71k | €86k | €135k | €168k | ▲ 23.9% |
| Distributable reserves133 | - | €71k | €86k | €135k | €168k | ▲ 23.9% |
| Profit (loss) carried forward14 | €9 | €9 | €9 | €9 | €9 | = |
| Amounts payable17/49 | €636k | €579k | €508k | €433k | €414k | ▼ 4.5% |
| Amounts payable after more than one year17 | €550k | €463k | €377k | €275k | €178k | ▼ 35.2% |
| Financial debts170/4 | - | €383k | €307k | €230k | €163k | ▼ 29.0% |
| Other amounts payable178/9 | - | €80k | €70k | €45k | €15k | ▼ 66.7% |
| Amounts payable within one year42/48 | €85k | €113k | €130k | €157k | €234k | ▲ 49.2% |
| Current portion of amounts payable after more than one year42 | - | €77k | €77k | €77k | €67k | ▼ 13.0% |
| Trade debts44 | €33k | €23k | €42k | €48k | €155k | ▲ 220% |
| Suppliers440/4 | - | €23k | €42k | €48k | €155k | ▲ 220% |
| Taxes, remuneration and social security45 | - | €10k | €2k | €23k | €3k | ▼ 84.7% |
| Taxes450/3 | - | €8k | €2k | €23k | €3k | ▼ 84.7% |
| Remuneration and social security454/9 | - | €2k | €0 | - | - | - |
| Other amounts payable47/48 | - | €4k | €9k | €9k | €9k | = |
| Accrued charges and deferred income492/3 | - | €2k | €1k | €2k | €2k | ▲ 4.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €32k | €71k | €15k | €50k | €32k | ▼ 34.7% |
| + Depreciation and write-downs630 | €87k | €87k | €74k | €78k | €78k | ▼ 0.6% |
| Operating cash flow (approximation) | €119k | €158k | €89k | €128k | €110k | ▼ 13.8% |
| Investment in fixed assets (approximation) | - | €-17k | €-12k | €-76k | €-106k | ▼ 39.4% |
| Change in cash | - | €55k | €-44k | €70k | €-48k | ▼ 169% |
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
Next filing, fiscal year 2026, expected by
2025
16-12
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2024
27-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
15-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-06
Financial
Weakest financial yearnet €15k ▼78.9%
Net result drops to €15k, the lowest in the series; recovery starts the following year.
27-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-06
Financial
Highest result since 2021net €71k ▲120%
Operating result €83k, net result €71k, both a record.
2021
21-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Bertem · 1 establishment unit since 2009
Ground area
1,589 m²
Building footprint
598 m²
Volume, LiDAR
2,942 m³
Parcel 24052B0321/00E000, Flanders · tallest building 10.1 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
MICHIELS
since 20092.183.280.552
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24052B0321/00E000 | Flanders | 1,589 m² | 1 · 598 m² | 10.1 m · 1 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.
Public money · subsidies and aid
Flemish government
2022 to 2023 · 3 entries · 13,582 EUR awarded · 13,582 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 2 | 2,982 EUR | 2,982 EUR |
| 2022 | 1 | 10,600 EUR | 10,600 EUR |
Schemes
Subsidie voor zorgboerderijen
Subsidie voor de bedrijfseigen teelt van plantaardige eiwitbronnen (vlinderbloemigen) - stopgezet
Recognitions · licences · registrations
Food safety, FASFC
1 siteBertem2.183.280.552
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Of 20,586 companies in sector 01500 we hold annual accounts for 1,149. 862 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded23-11-2009
Fiscal year end30-06
Activities, NACEBEL 2025
01500Mixed farming
Scores and ratios are computed by Checked and are not a credit decision.