Equity
Equity fell by 49% in 4 years.
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Equity fell by 49% in 4 years.
Green is investment, beige is depreciation. Machinery stands 4933.7% higher than in 2024.
Latest accounts filed late: after the legal deadline.
In July 2024, 5,047 companies had the same profile as MICMA has now. Each dot stands for 13 companies, two years later.
The method was tested on the 497,448 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 5,047 companies, not a prediction for MICMA. 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.
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| Company | ||||
|---|---|---|---|---|
| MICMA Charleroi | €75,869 | €6,098 | 50.7% | - |
| BATIS Dilbeek | €87,616 | €5,058 | 95.0% | - |
| AVA BCG Brussels | €89,707 | €7,284 | 5.4% | - |
| C.F.P. CONSTRUCT Nivelles | €70,971 | €7,496 | 3.7% | - |
| MASTER CONSTRUCT Charleroi | €56,745 | €6,402 | 54.9% | - |
| TK CONSTRUCT Courcelles | €74,356 | €5,753 | 20.8% | - |
| MK PARTNERS Tournai | €102,032 | €8,355 | 67.8% | - |
These companies have the same main activity as MICMA: general construction of residential buildings (NACE 41001). They are comparable in size and age: total assets between €56,700 and €102,000, founded between 2014 and 2019.
MICMA files the micro format. That format states no turnover. The gross margin fell from €28,058 in 2017 to €6,098 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
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