MIDSPARCO
ActiveSummary
MIDSPARCO has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €135,747 and a net result of €32,031. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 27% of 9619 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability74▼-8
Solvency44▲+5
Growth78=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €8,000 at 30 days acceptable
Liquidity tight (current ratio 1.39 against 0.86 in 2023; short-term debt: 14.2% and cash: 7.5% of total assets), and 80.8% of the assets are financed with debt.
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Signals
Three 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 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Growing equity
Reported equity is higher than in 2022 and did not fall compared with 2023. These amounts do not establish the cause of the change.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year €135,747
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 19-06-2025, 42 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
not confirmed
2024
42 d early
2023
41 d early
2022
38 d early
2021
31 d early
2020
44 d early
2019
7 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 34 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, abbreviated schema
Equity
€135,747▲ 29.8%
2023 · €104,549
Total assets
€707,114▼ 4.2%
2023 · €738,140
Net result
€32,031▼ 57.9%
2023 · €76,155
Working capital
€39,663
2023 · -€20,904
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, 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
Line20202021202220232024
Operating result€40,998€15,894▼ 61.2%€24,533▲ 54.4%€106,188▲ 333%€61,605▼ 42.0%
Net result€33,060above the sector's middle half€8,578within the sector's middle half▼ 74.1%€11,855within the sector's middle half▲ 38.2%€76,155within the sector's middle half▲ 542%€32,031within the sector's middle half▼ 57.9%
Equity€8,795within the sector's middle half€17,373within the sector's middle half▲ 97.5%€29,227below the sector's middle half▲ 68.2%€104,549below the sector's middle half▲ 258%€135,747within the sector's middle half▲ 29.8%
Total assets€163,117within the sector's middle half▲ 3.8%€549,713above the sector's middle half▲ 237%€614,111within the sector's middle half▲ 11.7%€738,140within the sector's middle half▲ 20.2%€707,114within the sector's middle half▼ 4.2%
Debt€154,322▼ 14.9%€532,340▲ 245%€584,884▲ 9.9%€633,592▲ 8.3%€571,367▼ 9.8%
Working capital€63,033▲ 157%€47,539▼ 24.6%€39,166▼ 17.6%-€20,904€39,663
Solvency5.4%within the sector's middle half▲ 20.8pp3.2%below the sector's middle half▼ 2.2pp4.8%below the sector's middle half▲ 1.6pp14.2%below the sector's middle half▲ 9.4pp19.2%within the sector's middle half▲ 5.0pp
Staff (FTE)2within the sector's middle half▲ 5.3%2.1▲ 5.0%2.3within the sector's middle half▲ 9.5%3within the sector's middle half▲ 30.4%2.6within the sector's middle half▼ 13.3%
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
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 2024; 2024 is 42% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €707,114
Fixed assets
€566,893 ▼ 7.4%
Current assets
€140,221 ▲ 11.3%
Equity and liabilities €707,114
Equity
€135,747 ▲ 29.8%
Debt
€571,367 ▼ 9.8%
Debt's share of the balance-sheet total falls from 85.8% to 80.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€106,318▼
2023 · €153,801
Cash flow
€76,743▼
2023 · €123,768
Current ratio
1.39▲
2023 · 0.86
Quick ratio
0.66▲
2023 · 0.37
Debt to equity
4.21▼
2023 · 6.06
ROE
23.6%▼
2023 · 72.8%
ROA
4.5%▼
2023 · 10.3%
Interest coverage
6.51▼
2023 · 9.36
Debt ≤ 1 year
€100,558▼
2023 · €146,923
Debt > 1 year
€468,542▼
2023 · €483,467
Income taxes
€13,246▼
2023 · €13,625
Staff costs
€81,926▼
2023 · €92,455
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 4,500 companies that looked in July 2024 the way this one looks now, 1.2% went bankrupt within 24 months and 97% are still going.
- Micro
- 10 to 20 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
1.2%
went bankrupt
1.6%
stopped otherwise
97%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.9% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 4,500 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €12,733 | €0 | ▼ 100% |
| Remuneration, social security and pensions62 | - | €49,190 | €65,663 | €92,455 | €81,926 | ▼ 11.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €25,665 | €53,078 | €29,466 | €47,614 | €44,712 | ▼ 6.1% |
| Other operating charges640/8 | - | €6,082 | €7,633 | €8,194 | €8,083 | ▼ 1.4% |
| Gross operating margin9900 | €113,196 | €124,243 | €127,296 | €254,450 | €196,327 | ▼ 22.8% |
| Operating profit (loss)9901 | €40,998 | €15,894 | €24,533 | €106,188 | €61,605 | ▼ 42.0% |
| Financial income75/76B | - | €58 | €133 | €27 | €5 | ▼ 79.7% |
| Recurring financial income75 | €322 | €58 | €133 | €27 | €5 | ▼ 79.7% |
| Financial charges65/66B | - | €7,247 | €11,317 | €16,435 | €16,333 | ▼ 0.6% |
| Recurring financial charges65 | €3,533 | €7,247 | €11,317 | €16,435 | €16,333 | ▼ 0.6% |
| Profit (loss) for the period before taxes9903 | €37,786 | €8,705 | €13,349 | €89,780 | €45,278 | ▼ 49.6% |
| Income taxes67/77 | €4,727 | €127 | €1,495 | €13,625 | €13,246 | ▼ 2.8% |
| Profit (loss) for the period9904 | €33,060 | €8,578 | €11,855 | €76,155 | €32,031 | ▼ 57.9% |
| Profit (loss) for the period to be appropriated9905 | €33,060 | €8,578 | €11,855 | €76,155 | €32,031 | ▼ 57.9% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €163,117 | €549,713 | €614,111 | €738,140 | €707,114 | ▼ 4.2% |
| Fixed assets21/28 | €64,337 | €390,882 | €473,228 | €612,121 | €566,893 | ▼ 7.4% |
| Intangible fixed assets21 | €2,742 | €2,242 | €1,742 | €1,242 | €742 | ▼ 40.2% |
| Tangible fixed assets22/27 | €49,579 | €377,228 | €459,554 | €605,289 | €561,077 | ▼ 7.3% |
| Land and buildings22 | - | €349,653 | €403,772 | €503,708 | €479,053 | ▼ 4.9% |
| Plant, machinery and equipment23 | - | €21,959 | €54,645 | €101,582 | €82,024 | ▼ 19.3% |
| Furniture and vehicles24 | - | €5,616 | €1,137 | - | - | - |
| Financial fixed assets28 | €12,016 | €11,411 | €11,932 | €5,590 | €5,073 | ▼ 9.2% |
| Current assets29/58 | €98,779 | €158,831 | €140,884 | €126,019 | €140,221 | ▲ 11.3% |
| Stocks and contracts in progress3 | €53,968 | €49,708 | €59,094 | €71,795 | €73,770 | ▲ 2.8% |
| Stocks30/36 | - | €49,708 | €59,094 | €71,795 | €73,770 | ▲ 2.8% |
| Amounts receivable within one year40/41 | €1,240 | €9,026 | €10,554 | €1,596 | €7,387 | ▲ 363% |
| Trade receivables40 | - | €22 | €2,899 | €202 | €578 | ▲ 187% |
| Other amounts receivable41 | - | €9,005 | €7,655 | €1,394 | €6,809 | ▲ 388% |
| Cash at bank and in hand54/58 | €38,081 | €96,656 | €66,221 | €48,609 | €52,837 | ▲ 8.7% |
| Deferred charges and accrued income490/1 | - | €3,442 | €5,015 | €4,020 | €6,226 | ▲ 54.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €163,117 | €549,713 | €614,111 | €738,140 | €707,114 | ▼ 4.2% |
| Equity10/15 | €8,795 | €17,373 | €29,227 | €104,549 | €135,747 | ▲ 29.8% |
| Contributions10/11 | - | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Reserves13 | - | €7,373 | €19,227 | €94,549 | €125,747 | ▲ 33.0% |
| Distributable reserves133 | - | €7,373 | €19,227 | €94,549 | €125,747 | ▲ 33.0% |
| Profit (loss) carried forward14 | -€1,205 | - | - | - | €0 | - |
| Amounts payable17/49 | €154,322 | €532,340 | €584,884 | €633,592 | €571,367 | ▼ 9.8% |
| Amounts payable after more than one year17 | €118,524 | €420,476 | €483,153 | €483,467 | €468,542 | ▼ 3.1% |
| Financial debts170/4 | - | €387,102 | €461,274 | €437,269 | €449,755 | ▲ 2.9% |
| Other amounts payable178/9 | - | €33,374 | €21,879 | €46,198 | €18,786 | ▼ 59.3% |
| Amounts payable within one year42/48 | €35,746 | €111,292 | €101,718 | €146,923 | €100,558 | ▼ 31.6% |
| Current portion of amounts payable after more than one year42 | - | €36,528 | €55,050 | €95,539 | €60,379 | ▼ 36.8% |
| Financial debts43 | - | - | - | €18,106 | €10,074 | ▼ 44.4% |
| Credit institutions430/8 | - | - | - | €18,106 | €10,074 | ▼ 44.4% |
| Trade debts44 | €11,209 | €73,496 | €39,635 | €19,485 | €17,351 | ▼ 11.0% |
| Suppliers440/4 | - | €73,496 | €39,635 | €19,485 | €17,351 | ▼ 11.0% |
| Taxes, remuneration and social security45 | - | €268 | €6,032 | €12,960 | €11,921 | ▼ 8.0% |
| Taxes450/3 | - | €268 | €6,032 | €3,416 | €2,224 | ▼ 34.9% |
| Remuneration and social security454/9 | - | - | - | €9,544 | €9,697 | ▲ 1.6% |
| Other amounts payable47/48 | - | €1,000 | €1,000 | €833 | €833 | = |
| Accrued charges and deferred income492/3 | - | €572 | €13 | €3,202 | €2,268 | ▼ 29.2% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €33,060 | €8,578 | €11,855 | €76,155 | €32,031 | ▼ 57.9% |
| + Depreciation and write-downs630 | €25,665 | €53,078 | €29,466 | €47,614 | €44,712 | ▼ 6.1% |
| Operating cash flow (approximation) | €58,724 | €61,656 | €41,321 | €123,768 | €76,743 | ▼ 38.0% |
| Investment in fixed assets (approximation) | - | -€379,622 | -€111,812 | -€186,507 | €517 | ▲ 100% |
| Change in cash | - | €58,575 | -€30,435 | -€17,613 | €4,229 | ▲ 124% |
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
2025
19-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
20-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Highest result since 2018net €76,155 ▲542%
Operating result €106,188, net result €76,155, both a record.
31-12
Financial
Equity above €100,000Eq €104,549 ▲258%
4 profitable years in a row build equity to €104,549.
23-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
17-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Back to profitnet €33,060
Net result €33,060 after 2 loss-making years.
24-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
25-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
10-07
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.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Gistel · 1 establishment unit since 2016
Ground area
1,102 m²
Building footprint
567 m²
Volume, LiDAR
4,423 m³
2 parcels, Flanders · tallest building 26.3 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Spar
since 20162.254.638.801
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 35005A0547/00Y000 | Flanders | 769 m² | 1 · 219 m² | 10.8 m · 2 fl. |
| 35011B0238/00A000 | Flanders | 333 m² | 1 · 348 m² | 26.3 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels 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
2023 · 1 entry · 240 EUR awarded · 240 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 240 EUR | 240 EUR |
Recognitions · licences · registrations
Food safety, FASFC
1 site · 1 with a smileyMiddelkerke2.254.638.801
Similar companies · same sector, comparable size
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Fare
BE 0744.765.010
Gent · Eq €135,968
KARADAG
BE 0673.759.624
Seraing · Eq €135,456
GEMBLOUXIM
BE 0805.595.589
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ANADOLU
BE 0442.455.897
Antwerpen · Eq €135,230
Of 10,510 companies in sector 47110 we hold annual accounts for 5,850. 4,505 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
Founded27-06-2016
Fiscal year end31-12
Activities, NACEBEL 2025
47110Non-specialised retail sale with food, beverages or tobacco predominating
E-invoicing
Reachable via Peppol
Peppol ID
0208:0656998420
Also
9925:BE0656998420
Registered
20-10-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.