Michielsen Construct
ActiveSummary
Michielsen Construct has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €69,598 and a net result of €57,676. The computed 12-month bankruptcy probability is 0.2% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 01-08-2024 Normal situation
- Activity
- Holdings NACE 64200and 4 others
- Establishment unit
- 2.362.419.063 2280 Grobbendonk, since 01-08-2024
- Financial year end
- 31 December
- Peppol
- Reachable since 03-08-2026
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.2%
Annual accounts 2025
- Gross margin
- €77,746
- ▲ 393%
- Turnover
- ≈ €230,000
- estimated
- Profit
- €57,676
- ▲ 445%
- Equity
- €69,598
- ▲ 446%
- Total assets
- €108,407
- ▲ 208%
Filed on 22-06-2026, 39 days before the deadline
Score breakdownraises riskFounded in 2024lowers riskLiquidity: current ratio 3.04, cash €87,669Size: total assets €108,407Equity €69,598 (64.2% of total assets)Show the evidence
Checked score
Score 2025
92
/ 100
Excellent
Probability in this band: under 0.55%
Financially stronger than 80% of micro companies without a NACE code
Financial strength · tick: 2024
Strong
Solvency
89+28
equity 64.2% of total assets
Liquidity
89+27
short-term debt 27.6% · cash 80.9%
Profitability
100=
return on assets 53.2%
Bankruptcy probability within 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
09-2025: 1.6%
10-2025: 1.6%● unchanged vs 09-2025
11-2025: 1.7%▲ +0.1 percentage points vs 10-2025
12-2025: 1.7%● unchanged vs 11-2025
01-2026: 1.7%● unchanged vs 12-2025
02-2026: 1.7%● unchanged vs 01-2026
03-2026: 1.8%▲ +0.1 percentage points vs 02-2026
04-2026: 1.9%▲ +0.1 percentage points vs 03-2026
05-2026: 1.9%● unchanged vs 04-2026highest value
06-2026: 1.9%● unchanged vs 05-2026
07-2026: 0.2%▼ -1.7 percentage points vs 06-2026lowest value
08-2026: 0.2%● unchanged vs 07-2026lowest value
09-2026: 0.2%● unchanged vs 08-2026
10-2026: 0.2%● unchanged vs 09-2026
11-2026: 0.2%● unchanged vs 10-2026
Credit of up to €6,000 on 30-day terms, only on tighter conditions: young company (under 3 years) without a track record
Liquidity is ample, with a current ratio of 3.04 (1.99 in 2024), above the usual 1.5. Short-term debt is 27.6% and cash 80.9% of total assets. 35.8% of the assets are financed with debt and provisions.
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 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% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (no NACE code, micro). It does better than 54% of them on solvency, 80% on liquidity, 90% on profitability and 98% on growth.
The bankruptcy probability was computed on 01-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 22-06-2026, 39 days ahead of the deadline.
NBB · 2 filingsDeviation from the deadline
2025
39 days early
2024
98 days early
← before the deadline
after the deadline →
tick = median of all Belgian filings
The company filed its last 2 accounts on average 69 days before the deadline. The Belgian median for financial year 2024 was 4 days before the deadline, and 38% of all filings were late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsWhere today falls in the filing period
02-11-2026 today31-12-2026 year end31-07-2027 deadline
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 22-06-2026 at the NBB all 2 filings
Turnover
≈ €230,000
Estimated: probably between €150,000 and €400,000
Total assets
€108,407▲ 208%
2024 · €35,147
Net result
€57,676▲ 445%
2024 · €10,587
Working capital
€61,155▲ 605%
2024 · €8,679
Trend over the years
2024 to 2025, 2 financial years
The operating result for 2025 is 5.2 times that of 2024.
Operating result€73,052
2025
Net result€57,676
2025
Total assets€108,407
2025
Equity€69,598
2025
Debt€38,809
2025
Working capital€61,155
2025
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line20242025
Operating result€14,032-€73,052▲ 421%
Net result€10,587-€57,676▲ 445%
Equity€12,754-€69,598▲ 446%
Total assets€35,147-€108,407▲ 208%
Debt€22,393-€38,809▲ 73.3%
Working capital€8,679-€61,155▲ 605%
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €108,407
Fixed assets
€17,299 ▼ 2.4%
Current assets
€91,108 ▲ 423%
Equity and liabilities €108,407
Equity
€69,598 ▲ 446%
Debt
€38,809 ▲ 73.3%
Debt's share of the balance-sheet total falls from 63.7% to 35.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€77,439▲
2024 · €15,313
Cash flow
€62,063▲
2024 · €11,869
Current ratio
3.04▲
2024 · 1.99
Debt to equity
0.56▼
2024 · 1.76
ROE
82.9%▼
2024 · 83.0%
ROA
53.2%▲
2024 · 30.1%
Interest coverage
87.50▲
2024 · 20.19
Debt ≤ 1 year
€29,954▲
2024 · €8,749
Debt > 1 year
€8,750▼
2024 · €13,491
Income taxes
€14,614▲
2024 · €2,686
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2024 | 2025 |
|---|---|---|
| Tangible fixed assets | €19,000 | €3,967 |
| Financial fixed assets | - | €0 |
| Depreciation and write-downs of the year | €1,281 | €4,387 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
Companies with the same profile, two years later
Historical observationIn July 2024, 39,278 companies had the same profile as Michielsen Construct has now. Two years later, 1.8% had gone bankrupt and 95.9% were still going.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.8%
went bankrupt
2.3%
stopped otherwise
95.9%
was still going
The bankruptcy probability of Michielsen Construct itself is lower: 0.2% within 12 months. It rests on far more data about Michielsen Construct than the profile alone.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 39,278 companies, not a prediction for Michielsen Construct. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Annual accounts
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,281 | €4,387 | ▲ 242% |
| Other operating charges640/8 | €453 | €307 | ▼ 32.1% |
| Gross operating margin9900 | €15,766 | €77,746 | ▲ 393% |
| Operating profit (loss)9901 | €14,032 | €73,052 | ▲ 421% |
| Financial income75/76B | €0 | €123 | ▲ 1,231× |
| Recurring financial income75 | €0 | €123 | ▲ 1,231× |
| Financial charges65/66B | €758 | €885 | ▲ 16.7% |
| Recurring financial charges65 | €758 | €885 | ▲ 16.7% |
| Profit (loss) for the period before taxes9903 | €13,274 | €72,290 | ▲ 445% |
| Income taxes67/77 | €2,686 | €14,614 | ▲ 444% |
| Profit (loss) for the period9904 | €10,587 | €57,676 | ▲ 445% |
| Profit (loss) for the period to be appropriated9905 | €10,587 | €57,676 | ▲ 445% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €35,147 | €108,407 | ▲ 208% |
| Fixed assets21/28 | €17,719 | €17,299 | ▼ 2.4% |
| Tangible fixed assets22/27 | €17,719 | €17,299 | ▼ 2.4% |
| Furniture and vehicles24 | €17,719 | €15,884 | ▼ 10.4% |
| Other tangible fixed assets26 | - | €1,414 | - |
| Current assets29/58 | €17,428 | €91,108 | ▲ 423% |
| Amounts receivable within one year40/41 | €10,374 | €0 | ▼ 100% |
| Trade receivables40 | €10,272 | €0 | ▼ 100% |
| Other amounts receivable41 | €102 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €5,917 | €87,669 | ▲ 15× |
| Deferred charges and accrued income490/1 | €1,138 | €3,439 | ▲ 202% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €35,147 | €108,407 | ▲ 208% |
| Equity10/15 | €12,754 | €69,598 | ▲ 446% |
| Contributions10/11 | €3,000 | €3,000 | = |
| Reserves13 | - | €66,598 | - |
| Distributable reserves133 | - | €66,598 | - |
| Profit (loss) carried forward14 | €9,754 | €0 | ▼ 100% |
| Amounts payable17/49 | €22,393 | €38,809 | ▲ 73.3% |
| Amounts payable after more than one year17 | €13,491 | €8,750 | ▼ 35.1% |
| Financial debts170/4 | €13,491 | €8,750 | ▼ 35.1% |
| Amounts payable within one year42/48 | €8,749 | €29,954 | ▲ 242% |
| Current portion of amounts payable after more than one year42 | €4,563 | €4,742 | ▲ 3.9% |
| Trade debts44 | €288 | €181 | ▼ 37.4% |
| Suppliers440/4 | €288 | €181 | ▼ 37.4% |
| Taxes, remuneration and social security45 | €2,950 | €20,894 | ▲ 608% |
| Taxes450/3 | €2,950 | €20,894 | ▲ 608% |
| Other amounts payable47/48 | €948 | €4,138 | ▲ 336% |
| Accrued charges and deferred income492/3 | €152 | €106 | ▼ 30.3% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | €10,587 | €57,676 | ▲ 445% |
| + Depreciation and write-downs630 | €1,281 | €4,387 | ▲ 242% |
| Operating cash flow (approximation) | €11,869 | €62,063 | ▲ 423% |
| Investment in fixed assets (approximation) | - | -€3,967 | - |
| Change in cash | - | €81,752 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Board & ownership
Directors
Directors
1 director, no change since 2024
MICHIELSEN Stef
Current
Director (not named in the articles) · since 01-08-2024 · term without a fixed end · listed in the 2025 annual accounts, filed on 22-06-2026
Signing authorityThe articles say who may bind the company, for example by signing a contract.
“De algemene vergadering die de bestuurder(s) benoemt bepaalt hun aantal, de duur van hun opdracht en, indien er meerdere bestuurders zijn…”
deed of 05-08-2024Owners and capital
Shareholders
At incorporation
act of 05-08-2024 ↗
- MICHIELSEN Stef 100 shares (100%) · €3,000
Capital transactions
Capital over time
- 05-08-2024 Incorporation · €3,000 · 100 shares
Articles of association
- Statutory auditorA statutory auditor is a registered auditor who checks the annual accounts. Small companies need not have one. According to the deed, the legal criteria do not require one here.
- No statutory auditor
Articles of association, deed of 05-08-2024 (in Dutch)
Network & group
Michielsen Construct shares no director with another company.
Connections & network
1 current directorThe network starts from the directors of Michielsen Construct. Every other company they run is a node.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
22-06
micro format · 39 days before the deadline
2025
24-04
micro format · 98 days before the deadline
2024
05-08
Gazette deed
IncorporationStarting capital €3,000 · Appointment: MICHIELSEN Stef (director) · Founder6 points ▸
Gazette deed
Incorporation
Starting capital €3,000 · Appointment: MICHIELSEN Stef (director) · Founder6 points ▸
- Incorporation, 01-08-2024
- Founder, MICHIELSEN Stef
- Founding capital, €3,000
- Registered office clause, “2280 Grobbendonk,Spechtdreef 11” (deed in Dutch)
- Bank account, 3000, EUR
- Director appointment, MICHIELSEN Stef (director (not named in the articles))
Gazette deedNBB filing
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
Michielsen Construct in Dutch
Enterprise number
1012.145.312
Legal form
Private limited company
Status
Active, normale toestand
Founded
01-08-2024
Entity type
Legal entity
Name clauseThe company operates under this name according to its articles.
Michielsen Construct
deed of 05-08-2024 (in Dutch)Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Alle machten om statutenwijziging authentiek te doen vaststellen, Vlaams Gewest”
deed of 05-08-2024 (in Dutch)Registered office and establishments
Registered office
Spechtdreef 11, 2280 Grobbendonk, Belgium
Establishment unit
Michielsen Construct, Spechtdreef 11, 2280 Grobbendonk since 01-08-2024 · unit number 2.362.419.0634100106 General construction of residential buildings
Activities
NACEBEL 202564210
Activities of holding companies
66300
Activities auxiliary to financial services and insurance activities
70200
Business and other management consultancy
Codes under NACEBEL 2008
64200
Holdings
66300
Activities auxiliary to financial services and insurance activities
70220
Business consulting
PurposeThe purpose describes the activities the company may carry out under its articles.
deed of 05-08-2024 (in Dutch)
“Managementactiviteiten in ruime zin,waaronder het tussenkomen in het dagelijks bestuur en het vertegenwoordigen van bedrijven; Het opnemen…”
38 activities
- Managementactiviteiten in ruime zin,waaronder het tussenkomen in het dagelijks bestuur en het vertegenwoordigen van bedrijven.
- Het opnemen van bestuurs- of vereffeningsmandaten in bedrijven,functies binnen een adviesraad of meer algemeen bedrijfsmanagement.
- Project- en interim-management.
- Werfleiding en algemene coördinatie van bouwprojecten.Begeleiding en advisering omtrent bouwwerken en vastgoedprojecten.
- Alle bouwwerken nodig voor de realisatie van nieuwbouw,renovatie of restauratie van gebouwen,constructies of inrichtingen.
- De aankoop,de verkoop,verkaveling,bouwpromotie,afbraak,(ver)bouw,omvorming,herwaardering,verhuring,onderverhuring,het beheer en het onderhoud van alle bebouwde of onbebouwde onroerende goederen,de onderhandelingen van alle overeenkomsten met betrekking tot onroerende en roerende rechten die er rechtstreeks uit voortvloeien.
- Bouwkundig ingenieursbureau.
- Het uitvoeren van expertises,waaronder ook gerechtelijke expertises.
- Het uitvoeren van schattingen en plaatsbeschrijvingen.
- Veiligheidscoördinatie en alle verwante diensten aan de bouwsector.
- Industriële bouwwerken.
- Aannemer van metselwerking,dakwerken,electriciteitswerken en meer algemeen van alle bouwwerken.
- Projectontwikkeling voor de nieuwbouw van individuele woningen,appartementsgebouwen of voor renovatiewerken.
- Grondverkavelingen.
- Groot- en kleinhandel in -,huur en verhuur van -,import en export van bouwmaterialen,machines en materieel,alsook van rollend materieel,decoratieve elementen en alle andere roerende goederen.
- Het geven van opleidingen en instructies in ruime zin.
- Professionele coaching,ondersteuning,begeleiding en advies aan bedrijven,natuurlijke personen en alle mogelijke instellingen
- Het nemen van licenties,brevetten en merken alsook de uitbating ervan.De valorisatie van kennis en technieken.
- Agentuur,commissaris,makelaar bij de handel in alle roerende goederen.
- Het participeren in en het financieren van andere vennootschappen.Borgstelling voor derden,voor zover de vennootschap er direct of indirect belang bij heeft
- Patrimoniumvennootschap.Het beheer,de instandhouding,de exploitatie,de verhuur,het kopen en verkopen van alle roerende en onroerende goederen.Verhuur van al dan niet gemeubelde appartementen en huizen.Verhuur van garageboxen en staanplaatsen van auto’s.
- De vennootschap mag alle activiteiten uitvoeren van industriële,commerciële,financiële,roerende of onroerende aard,die kunnen bijdragen tot de verwezenlijking,de uitbreiding of vergemakkelijking van haar maatschappelijk doel.
- Openbare en industriële reiniging;
- De bouw van rioleringen;
- Het bouwen van autowegen,straten en andere wegen en paden voor voertuigen en voetgangers,inclusief het plaatsen van vangrails;
- Het uitvoeren van baggerwerken;
- Het ruimen van waterlopen,sloten en dergelijke meer;
- Het bouwrijp maken van terreinen;
- Grondverzet:het graven,ophogen,egaliseren en nevelleren van bouwterreinen,het graven van sleuven en heulen,het verwijderen van rotsen,grondverzet met behulp van explosieven;
- De verlaging van het grondwaterpeil en drainage van bouwterreinen;
- De drainage van land- en bosbouwgrond;
- Landschapsverzorging;
- Het snoeien van bomen en heggen;
- Het aanleggen en onderhouden van tuinen,parken en het groene gedeelte van sportvelden;
- Alle soorten dakwerken,schilderwerken,herstellingswerken,onderhoudswerken aan gebouwen en wegen,inbegrepen lood- zink- sanitair- dichtings- en elektriciteitswerken;
- Het beheer,de instandhouding,de exploitatie,de verhuur,het kopen en verkopen van alle soorten onroerende goederen.Zij mag haar onroerende goederen in hypotheek stellen en al haar andere goederen,met inbegrip van het handelsfonds,in pand stellen met het oog op het aangaan van schulden,kredietopeningen of leningen en alle andere verbintenissen bij derden,met inbegrip van haar aandeelhouders en zaakvoerders en kan alle kosten en investeringen maken die zij nodig of wenselijk acht in het belang van de uitbouw van de beroepsactiviteiten;
- Het verlenen aan de ondernemingen waar zij aan deelneemt,al dan niet bezoldigd,van alle bijstand,hetzij technisch,industrieel,commercieel of administratief,hetzij financieel met inbegrip van borgstelling,avalgeving of inpandgeving van onroerende goederen;
- Het waarnemen van alle bestuursopdrachten,het uitoefenen van opdrachten en functies in andere vennootschappen en/of ondernemingen;Het optreden als tussenpersoon bij onderhandelingen door gehele of gedeeltelijke overname van aandelen;in de meest ruime betekenis,het deelnemen aan emissieverrichtingen van aandelen en vastrentende waarden door intekening,waarborg plaatsing,verhandeling of anderszins,alsmede het verwezenlijken van om het even welke verrichtingen inzake portefeuille- of kapitaalbestuur,met uitsluiting van het verlenen van vermogens- en of beleggingsadvies aan derden;
Invoicing and payment
VAT number
BE 1012.145.312
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Third Friday of June at 16:00
deed of 05-08-2024 (in Dutch)Sites & property
Location
Buildings and parcels at the address
Ground area
979 m²
Building footprint
49 m²
Building volume
228 m³
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 13010C0047/00D002 | Flanders | 979 m² | 1 · 49 m² | 6.6 m · 2 |