MIDFINPAR
ActiveSummary
MIDFINPAR has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €6.6m and a net result of €3.5m. Equity is growing by ~6.3% per year across the filed fiscal years. Its solvency ranks better than 68% of 3241 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency98▲+37
Growth52▼-16
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €24,000 at 30 days acceptable
Liquidity short (current ratio 0.4 against 0.11 in 2024; short-term debt: 26.6% and cash: 1.5% of total assets), and 26.7% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← 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
73.3%
Return on assets
38.8%
Age of the figures
9 mo
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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 12-05-2026, 80 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
80 d early
2024
97 d early
2023
40 d early
2022
29 d late
2021
9 d late
2020
27 d late
2019
12 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 20 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
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. Usually files around 22 June (4 of the last 5 filed years within 58 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, full schema
In the rankings
#1 company by total assets in Fléron, Professional and technical services sector#3 company by equity in Fléron, Professional and technical services sector
Turnover
€240,000▼ 30.4%
2024 · €345,000
EBIT margin
-6.7%▼ 2.1pp
2024 · -4.6%
Net result
€3.5m▼ 6.6%
2024 · €3.7m
Working capital
-€1.4m▲ 70.8%
2024 · -€4.9m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€330,000€345,000▲ 4.5%€240,000▼ 30.4%
Operating result€22,175▼ 13.6%€11,486▼ 48.2%€108,728▲ 847%-€15,942-€16,168▼ 1.4%
Net result€977,806above the sector's middle half▼ 8.5%€979,760above the sector's middle half▲ 0.2%€9.1mabove the sector's middle half▲ 831%€3.7mabove the sector's middle half▼ 58.9%€3.5mabove the sector's middle half▼ 6.6%
EBIT margin32.9%-4.6%▼ 37.6pp-6.7%▼ 2.1pp
Equity€6.4mabove the sector's middle half▲ 18.0%€7.4mabove the sector's middle half▲ 15.3%€2.9mwithin the sector's middle half▼ 60.3%€3.1mabove the sector's middle half▲ 6.4%€6.6mabove the sector's middle half▲ 112%
Total assets€9.1mabove the sector's middle half▲ 3.6%€9.3mabove the sector's middle half▲ 2.5%€16.6mabove the sector's middle half▲ 77.8%€8.6mabove the sector's middle half▼ 47.9%€9.0mwithin the sector's middle half▲ 4.3%
Debt€2.7m▼ 19.6%€2.0m▼ 27.8%€13.7m▲ 600%€5.5m▼ 59.5%€2.4m▼ 56.5%
Working capital€382,879within the sector's middle half▲ 475%€698,093above the sector's middle half▲ 82.3%-€5.1mbelow the sector's middle half-€4.9mbelow the sector's middle half▲ 4.2%-€1.4mbelow the sector's middle half▲ 70.8%
Solvency70.3%within the sector's middle half▲ 8.6pp79.1%above the sector's middle half▲ 8.8pp17.6%below the sector's middle half▼ 61.4pp36.0%within the sector's middle half▲ 18.4pp73.3%within the sector's middle half▲ 37.3pp
Current ratio1.57within the sector's middle half▲ 0.472.20within the sector's middle half▲ 0.630.62within the sector's middle half▼ 1.580.11below the sector's middle half▼ 0.520.40below the sector's middle half▲ 0.29
Return on assets (ROA)10.7%within the sector's middle half▼ 1.4pp10.5%within the sector's middle half▼ 0.2pp54.9%above the sector's middle half▲ 44.4pp43.3%above the sector's middle half▼ 11.7pp38.8%above the sector's middle half▼ 4.5pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €16,168 in 2025 against €15,942 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €9.0m
Fixed assets
€8.1m =
Current assets
€964,658 ▲ 62.1%
Equity and liabilities €9.0m
Equity
€6.6m ▲ 112%
Debt
€2.4m ▼ 56.5%
Debt's share of the balance-sheet total falls from 64.0% to 26.7%. Equity is higher and debt is lower.
Key figures and ratios
Debt to equity
0.36▼
2024 · 1.78
ROE
52.9%▼
2024 · 120.3%
Debt ≤ 1 year
€2.4m▼
2024 · €5.5m
Income taxes
€0▼
2024 · €37,229
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 |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | - | €240,000 | - |
| Turnover70 | - | - | €330,000 | €345,000 | €240,000 | ▼ 30.4% |
| Operating charges60/66A | - | - | - | - | €256,168 | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | €221,272 | €360,942 | - | - |
| Services and other goods61 | - | - | - | - | €256,168 | - |
| Gross operating margin9900 | €22,175 | €11,486 | €108,728 | -€15,942 | - | - |
| Operating profit (loss)9901 | €22,175 | €11,486 | €108,728 | -€15,942 | -€16,168 | ▼ 1.4% |
| Financial income75/76B | €1.0m | €1.0m | €9.1m | €3.8m | €3.6m | ▼ 7.0% |
| Recurring financial income75 | €1.0m | €1.0m | €9.1m | €3.8m | €3.6m | ▼ 7.0% |
| Income from financial fixed assets750 | - | - | - | - | €3.6m | - |
| Income from current assets751 | - | - | - | - | €0 | - |
| Financial charges65/66B | €44,369 | €31,726 | €8,449 | €26,641 | €44,628 | ▲ 67.5% |
| Recurring financial charges65 | €44,369 | €31,726 | €8,449 | €26,641 | €44,628 | ▲ 67.5% |
| Debt charges650 | - | - | - | - | €44,297 | - |
| Other financial charges652/9 | - | - | - | - | €331 | - |
| Profit (loss) for the period before taxes9903 | €977,806 | €979,760 | €9.2m | €3.8m | €3.5m | ▼ 7.5% |
| Income taxes67/77 | - | - | €93,507 | €37,229 | €0 | ▼ 100% |
| Taxes670/3 | - | - | - | - | €0 | - |
| Tax adjustments and reversals of tax provisions77 | - | - | - | - | €0 | - |
| Profit (loss) for the period9904 | €977,806 | €979,760 | €9.1m | €3.7m | €3.5m | ▼ 6.6% |
| Profit (loss) for the period to be appropriated9905 | €977,806 | €979,760 | €9.1m | €3.7m | €3.5m | ▼ 6.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €9.1m | €9.3m | €16.6m | €8.6m | €9.0m | ▲ 4.3% |
| Fixed assets21/28 | €8.1m | €8.1m | €8.1m | €8.1m | €8.1m | = |
| Financial fixed assets28 | €8.1m | €8.1m | €8.1m | €8.1m | €8.1m | = |
| Affiliated companies280/1 | - | - | - | - | €8.1m | - |
| Participating interests280 | - | - | - | - | €8.1m | - |
| Current assets29/58 | €1.0m | €1.3m | €8.5m | €595,024 | €964,658 | ▲ 62.1% |
| Stocks and contracts in progress3 | - | - | - | - | €0 | - |
| Amounts receivable within one year40/41 | - | - | €8.1m | €43,498 | €830,055 | ▲ 1,808% |
| Trade receivables40 | - | - | €80,000 | €40,000 | €0 | ▼ 100% |
| Other amounts receivable41 | - | - | €8.0m | €3,498 | €830,055 | ▲ 23,630% |
| Cash at bank and in hand54/58 | €1.0m | €1.3m | €149,886 | €346,732 | €134,603 | ▼ 61.2% |
| Deferred charges and accrued income490/1 | - | €1,150 | €311,017 | €204,793 | €0 | ▼ 100% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €9.1m | €9.3m | €16.6m | €8.6m | €9.0m | ▲ 4.3% |
| Equity10/15 | €6.4m | €7.4m | €2.9m | €3.1m | €6.6m | ▲ 112% |
| Contributions10/11 | €2.7m | €2.7m | €2.7m | €2.7m | €2.7m | = |
| Capital10 | €2.7m | €2.7m | €2.7m | €2.7m | €2.7m | = |
| Issued capital100 | €2.7m | €2.7m | €2.7m | €2.7m | €2.7m | = |
| Reserves13 | €266,000 | €266,000 | €266,000 | €266,000 | €266,000 | = |
| Non-distributable reserves130/1 | €266,000 | €266,000 | €266,000 | €266,000 | €266,000 | = |
| Legal reserve130 | €266,000 | €266,000 | €266,000 | €266,000 | €266,000 | = |
| Profit (loss) carried forward14 | €3.5m | €4.5m | €0 | €186,966 | €3.7m | ▲ 1,870% |
| Amounts payable17/49 | €2.7m | €2.0m | €13.7m | €5.5m | €2.4m | ▼ 56.5% |
| Amounts payable after more than one year17 | €2.0m | €1.4m | €0 | - | - | - |
| Financial debts170/4 | €2.0m | €1.4m | €0 | - | - | - |
| Amounts payable within one year42/48 | €666,676 | €580,457 | €13.7m | €5.5m | €2.4m | ▼ 56.4% |
| Current portion of amounts payable after more than one year42 | €661,497 | €548,696 | €0 | - | - | - |
| Trade debts44 | €5,179 | €31,761 | €4,937 | €1,513 | €424 | ▼ 72.0% |
| Suppliers440/4 | €5,179 | €31,761 | €4,937 | €1,513 | €424 | ▼ 72.0% |
| Taxes, remuneration and social security45 | - | - | €93,507 | €0 | - | - |
| Taxes450/3 | - | - | €93,507 | €0 | - | - |
| Other amounts payable47/48 | - | - | €13.6m | €5.5m | €2.4m | ▼ 56.4% |
| Accrued charges and deferred income492/3 | - | - | - | €26,070 | €8,549 | ▼ 67.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €977,806 | €979,760 | €9.1m | €3.7m | €3.5m | ▼ 6.6% |
| Operating cash flow (approximation) | €977,806 | €979,760 | €9.1m | €3.7m | €3.5m | ▼ 6.6% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €227,845 | -€1.1m | €196,846 | -€212,129 | ▼ 208% |
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
2026
24-06
State Gazette act
Appointment: PwC Reviseurs d'Entreprises (statutory auditor)Permanent representative: Isabelle Compère3 facts ▸
State Gazette act
Appointment: PwC Reviseurs d'Entreprises (statutory auditor)
Permanent representative: Isabelle Compère3 facts ▸
- General meeting, 29-05-2026
- Auditor appointment, PwC Reviseurs d'Entreprises (statutory auditor)
- Permanent representative, Isabelle Compère (permanent representative)
28-05
State Gazette act
Resignation: Christelle RIGAL (managing director)Appointment: David GEERTS (managing director) · Director discharge9 facts ▸
State Gazette act
Resignation: Christelle RIGAL (managing director)
Appointment: David GEERTS (managing director) · Director discharge9 facts ▸
- General meeting, Assemblée générale annuelle, Actionnaire unique
- Director resignation, Christelle RIGAL (managing director)
- Director appointment, David GEERTS (managing director)
- Other statement, commissaire, non-renewal of auditor mandate
- Director discharge, MADE Management SRL (managing director)
- Director discharge, Thomas VANDEVILLE (director)
- Director discharge, Virginie GAILLARD (director)
- Director discharge, Christelle RIGAL LEGRIX (managing director)
- Director discharge, PWC Réviseurs d'Entreprises SRL (statutory auditor)
12-05
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Equity above €5mEq €6.6m ▲112%
8 profitable years in a row build equity to €6.6m.
25-04
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
21-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Highest result since 2018net €9.1m ▲831%
Operating result €108,728, net result €9.1m, both a record.
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 29 days late
2022
09-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 9 days late
2021
27-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 27 days late
2020
31-12
Financial
Liquidity doublescurrent ratio 1.10
Current ratio from 0.49 to 1.10; short-term debt falls from €670,052 to €663,187.
31-12
Financial
Equity above €5mEq €5.4m ▲24.6%
3 profitable years in a row build equity to €5.4m.
12-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 12 days late
2019
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 29 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
2 of 13 acts read
About the unread acts
Of the 13 Belgian State Gazette acts we know for this company, 2 have been read. The other 11 have not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
1 office holder, last change in 2026
Day-to-day management 1
David GEERTS
CurrentManaging director · since 22-04-2026
Statutory auditor 1
PwC Reviseurs d'Entreprises
CurrentStatutory auditor · since 24-06-2026 · perm. rep.: Isabelle Compère
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
11 of this company's 13 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Fléron · 1 establishment unit since 2018
Ground area
1,247 m²
Building footprint
268 m²
Volume, LiDAR
2,075 m³
Parcel 62084C0087/00X000, Wallonia · tallest building 12.1 m, ±3 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
MIDFINPAR
since 20182.280.146.633
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62084C0087/00X000 | Wallonia | 1,247 m² | 1 · 268 m² | 12.1 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.
Mandate history
3 people since 2026, 2 in office
- Day-to-day management
- Statutory auditor
- began earlier
| Name | Functions and periods |
|---|---|
| David GEERTS |
|
| PwC Reviseurs d'Entreprises |
|
| Christelle RIGAL |
|
Structure & network
Owners and holdings
1 owner · 1 holdingOwners 1
- Mistral Holdco SASFRparentSourceown accounts 2025100%
Holdings 1
-
100%
According to the 2025 annual accounts of MIDFINPAR and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
1 current directorThe group is listed under Ownership & control below; here you explore it as a network.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, scroll to zoom.
Ownership & control
1 board mandateBoard mandates of this companythis company sits on their board1
9 locations
Similar companies · same sector, comparable size
Bay Line
BE 0652.810.988
Liège · Eq €6,610,189
VAPAMA
BE 0448.986.076
Izegem · Eq €6,616,343
Xerius Ondernemingsloket
BE 0860.109.391
Brussel · Eq €6,600,476
R.W.M.
BE 0476.867.341
Brugge · Eq €6,621,147
MAT PACK
BE 0864.787.365
Aalst · Eq €6,596,176
Of 82,641 companies in sector 70200 we hold annual accounts for 52,623. 9,248 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded08-06-2018
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0697749803
Also
9925:BE0697749803
Registered
30-04-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.