MIFACÉ
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 30-01-2026 PDF all 2 filings
Every figure per financial year
The operating result for 2025 is 28% lower than in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Investments
| Item | 30-06-2024 | 30-06-2025 |
|---|---|---|
| Tangible fixed assets | €4,000 | €3,130 |
| Intangible fixed assets | - | €1,416 |
| Depreciation and write-downs of the year | - | €1,416 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Remuneration, social security and pensions62 | - | €168 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €1,416 | - |
| Other operating charges640/8 | €552 | €354 | ▼ 35.9% |
| Gross operating margin9900 | €29,546 | €22,717 | ▼ 23.1% |
| Operating profit (loss)9901 | €28,994 | €20,779 | ▼ 28.3% |
| Financial income75/76B | - | €244 | - |
| Recurring financial income75 | - | €244 | - |
| Financial charges65/66B | €1,074 | €1,346 | ▲ 25.3% |
| Recurring financial charges65 | €1,074 | €1,346 | ▲ 25.3% |
| Profit (loss) for the period before taxes9903 | €27,920 | €19,678 | ▼ 29.5% |
| Income taxes67/77 | €8,384 | €6,968 | ▼ 16.9% |
| Profit (loss) for the period9904 | €19,536 | €12,710 | ▼ 34.9% |
| Profit (loss) for the period to be appropriated9905 | €19,536 | €12,710 | ▼ 34.9% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €37,333 | €61,101 | ▲ 63.7% |
| Formation expenses20 | €1,416 | - | - |
| Fixed assets21/28 | €4,000 | €7,130 | ▲ 78.3% |
| Tangible fixed assets22/27 | €4,000 | €7,130 | ▲ 78.3% |
| Other tangible fixed assets26 | €4,000 | €7,130 | ▲ 78.3% |
| Current assets29/58 | €31,917 | €53,971 | ▲ 69.1% |
| Amounts receivable within one year40/41 | €12,822 | €28,224 | ▲ 120% |
| Trade receivables40 | €12,822 | €26,298 | ▲ 105% |
| Other amounts receivable41 | - | €1,926 | - |
| Current investments50/53 | €3,000 | €15,500 | ▲ 417% |
| Cash at bank and in hand54/58 | €15,585 | €10,247 | ▼ 34.3% |
| Deferred charges and accrued income490/1 | €509 | - | - |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €37,333 | €61,101 | ▲ 63.7% |
| Equity10/15 | €22,036 | €34,746 | ▲ 57.7% |
| Contributions10/11 | €2,500 | €2,500 | = |
| Reserves13 | €19,536 | €32,246 | ▲ 65.1% |
| Distributable reserves133 | €19,536 | €32,246 | ▲ 65.1% |
| Amounts payable17/49 | €15,297 | €26,355 | ▲ 72.3% |
| Amounts payable within one year42/48 | €15,297 | €26,355 | ▲ 72.3% |
| Trade debts44 | €1,494 | €1,993 | ▲ 33.4% |
| Suppliers440/4 | €1,494 | €1,993 | ▲ 33.4% |
| Taxes, remuneration and social security45 | €13,482 | €24,361 | ▲ 80.7% |
| Taxes450/3 | €13,482 | €24,361 | ▲ 80.7% |
| Other amounts payable47/48 | €321 | - | - |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | €19,536 | €12,710 | ▼ 34.9% |
| + Depreciation and write-downs630 | - | €1,416 | - |
| Operating cash flow (approximation) | €19,536 | €14,126 | ▼ 27.7% |
| Investment in fixed assets (approximation) | - | -€4,546 | - |
| Change in cash | - | -€5,339 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 39,278 companies had the same profile as MIFACÉ has now. Two years later, 95.8% were still going and 1.8% had gone bankrupt.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MIFACÉ itself: 0.4% within 12 months.
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 MIFACÉ. 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.