Michielsen J.
ActiveMichielsen J. has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €130k and a net result of €20k. Equity is growing by ~30% per year across the filed fiscal years. Its solvency ranks better than 14% of 7692 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
55
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability71▼-3
Solvency37▼-1
Growth78=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €7k at 30 days acceptable
Liquidity short (current ratio 0.99 against 0.96 in 2024; short-term debt: 80.3% and cash: 17.6% of total assets), and 87.6% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Sector 43
higher
← fewer bankruptcies
more bankruptcies →
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
12.4%
Return on assets
1.9%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 14% of 7692 sector peers (2025).
NBB · sector comparisonPosition among 7692 sector peers
Solvency
better than 14%
← weakest
strongest →
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 29-07-2026, 2 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
2 d early
2024
32 d early
2023
14 d early
2022
27 d early
2021
25 d early
2020
32 d early
2019
32 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
17-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€130k▲ 4.8%
2024 · €124k
2018: €23k
2019: €33k
2020: €47k
2021: €56k
2022: €115k
2023: €101k
2024: €124k
2018 → 2025
Total assets
€1.05M▲ 10.7%
2024 · €951k
2018: €220k
2019: €252k
2020: €381k
2021: €496k
2022: €661k
2023: €1.05M
2024: €951k
2018 → 2025
Net result
€20k▼ 45.2%
2024 · €37k
2018: €4k
2019: €10k
2020: €14k
2021: €9k
2022: €66k
2023: €756
2024: €37k
2018 → 2025
Working capital
€-12k▲ 55.5%
2024 · €-27k
2018: €-783
2019: €4k
2020: €-22k
2021: €-38k
2022: €37k
2023: €-28k
2024: €-27k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€56k-€115k▲ 106%€101k▼ 11.8%€124k▲ 22.4%€130k▲ 4.8%
Operating result€22k-€103k▲ 359%€21k▼ 80.0%€77k▲ 274%€48k▼ 37.6%
Net result€9k-€66k▲ 671%€756▼ 98.9%€37k▲ 4,796%€20k▼ 45.2%
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 falls in 2025; 2025 is 38% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.05M
Fixed assets
€219k▼ 7.5%
Current assets
€833k▲ 16.8%
Equity and liabilities €1.05M
Equity
€130k▲ 4.8%
Debt
€923k▲ 11.6%
The debt ratio rises from 87.0% to 87.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€141k▼
2024 · €171k
Cash flow
€114k▼
2024 · €131k
Solvency
12.4%▼
2024 · 13.0%
Current ratio
0.99▲
2024 · 0.96
Quick ratio
0.66▲
2024 · 0.55
Debt / equity
7.10▲
2024 · 6.67
ROE
15.6%▼
2024 · 29.8%
ROA
1.9%▼
2024 · 3.9%
Interest coverage
8.99▲
2024 · 8.29
Debt
€923k▲
2024 · €827k
Debt ≤ 1 year
€845k▲
2024 · €740k
Debt > 1 year
€77k▼
2024 · €85k
Income taxes
€12k▼
2024 · €20k
Staff costs
€960k▲
2024 · €849k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€951k€1.05M▲
Fixed assets21/28€237k€219k▼
Intangible fixed assets21€326€166▼
Tangible fixed assets22/27€236k€219k▼
Plant, machinery and equipment23€42k€30k▼
Furniture and vehicles24€143k€125k▼
Other tangible fixed assets26€52k€64k▲
Financial fixed assets28€270€270=
Current assets29/58€714k€833k▲
Stocks and contracts in progress3€309k€278k▼
Stocks30/36€205k€206k▲
Contracts in progress37€104k€72k▼
Amounts receivable within one year40/41€207k€360k▲
Trade receivables40€171k€319k▲
Other amounts receivable41€36k€41k▲
Cash at bank and in hand54/58€191k€186k▼
Deferred charges and accrued income490/1€6k€10k▲
Equity and liabilities
Total equity and liabilities10/49€951k€1.05M▲
Equity10/15€124k€130k▲
Contributions10/11€20k€20k=
Reserves13€104k€110k▲
Distributable reserves133€104k€110k▲
Amounts payable17/49€827k€923k▲
Amounts payable after more than one year17€85k€77k▼
Financial debts170/4€85k€77k▼
Amounts payable within one year42/48€740k€845k▲
Current portion of amounts payable after more than one year42€62k€67k▲
Financial debts43€203k€211k▲
Credit institutions430/8€203k€211k▲
Trade debts44€292k€347k▲
Suppliers440/4€292k€347k▲
Taxes, remuneration and social security45€91k€136k▲
Taxes450/3€27k€25k▼
Remuneration and social security454/9€64k€111k▲
Other amounts payable47/48€92k€84k▼
Accrued charges and deferred income492/3€1k€574▼
Income statement
Code20242025
Remuneration, social security and pensions62€849k€960k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€94k€93k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€1k
Other operating charges640/8€6k€6k▼
Gross operating margin9900€1.03M€1.11M▲
Operating profit (loss)9901€77k€48k▼
Financial income75/76B€397-
Recurring financial income75€397-
Financial charges65/66B€21k€16k▼
Recurring financial charges65€21k€16k▼
Profit (loss) for the period before taxes9903€57k€32k▼
Income taxes67/77€20k€12k▼
Profit (loss) for the period9904€37k€20k▼
Profit (loss) for the period to be appropriated9905€37k€20k▼
Appropriation of the result
Profit (loss) to be appropriated9906€37k€20k▼
Transfer to equity691/2€23k€6k▼
To other reserves6921€23k€6k▼
Profit to be distributed694/7€14k€14k=
Return on contributions (dividend)694-€14k
Directors or managers695€14k-
Social balance
Average headcount (FTE)908713.514.7▲
The notes to these accounts (13 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
29-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
29-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
17-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Weakest financial yearnet €756 ▼98.9%
Net result drops to €756, the lowest in the series; recovery starts the following year.
04-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Highest result since 2018net €66k ▲671%
Operating result €103k, net result €66k, both a record.
31-12
Financial
Equity above €100kEq €115k ▲106%
5 profitable years in a row build equity to €115k.
06-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
29-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
29-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
28-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
20-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Herentals · 1 establishment unit since 2017
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Pluiskensvest(NDW) 12200 HerentalsGround area
2,612 m²
Building footprint
146 m²
Volume, LiDAR
10 m³
Parcel 13027A0217/00H000, Flanders · tallest building 1.8 m. Linked by address, not a title deed.
1 establishment unit
Pluiskensvest(NDW) 1, 2200 Herentals
since 20172.260.176.511
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13027A0217/00H000 | Flanders | 2,612 m² | 1 · 146 m² | 1.8 m |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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
2024 to 2025 · 3 entries · 1,609 EUR awarded · 1,609 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 1,315 EUR | 1,315 EUR |
| 2024 | 1 | 294 EUR | 294 EUR |
Schemes
Premie kwalificerend werkplekleren
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Dual-learning approval
4 live approvals · 4 endedElektrische installaties duaal (so)
Elektrotechnicus (vwo)
Elektrotechnicus duaal (so)
Elektrotechnisch installateur (vwo)
Similar companies · same sector, comparable size
Baeck
BE 0763.994.467
Temse · Eq €130k
Full Sun
BE 0839.375.246
Oreye · Eq €130k
LP ART DU BATIMENT
BE 0873.606.744
Brussel · Eq €130k
LOWIE DEVOS
BE 0800.217.039
Izegem · Eq €130k
NG-ELEC
BE 0538.825.694
Ranst · Eq €130k
Of 22,822 companies in sector 43211 we hold annual accounts for 10,324. 8,719 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded12-01-2017
Fiscal year end31-12
Activities, NACEBEL
43211General electrical installation work
42220Construction of utility projects for electricity and telecommunications
43213Specialised construction activities
43214Specialised construction activities
43221Plumbing work
47552Retail sale of lighting equipment
47592Retail trade
Sources
Crossroads Bank for EnterprisesNational Bank · 9 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
2 entriesE-mail:info@michielsenj.be
Phone:+3214 95 35 30