MIG
ActiveThe annual accounts of MIG for fiscal year 2025 show a net loss of 63% of total assets and of 61% of the equity at the start of that year. The 2025 annual accounts show equity of €113k and a net result of €-174k. Equity remains stable across the filed fiscal years (±1.9% per year). Its solvency ranks better than 56% of 215 sector peers (fiscal year 2025). The company has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
58
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0▼-72
Solvency66▼-12
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6k at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity short (current ratio 0.91 against 0.42 in 2024; short-term debt: 42.7% and cash: 33.9% of total assets), and 59.2% 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
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
40.8%
Return on assets
-63%
Age of the figures
18 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 38
Relative position
BE, all sectors
reference
Sector 38
higher
← fewer bankruptcies
more bankruptcies →
neutral · A punctual record breaks
This company filed 5 consecutive financial years on time. The year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 17-11-2025, 17 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
17 d late
2024
27 d early
2023
2 d early
2022
on the day
2021
on the day
2020
1 d early
2018
2 d late
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close17-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€113k▼ 60.7%
2024 · €287k
2020: €241k
2021: €246k
2022: €301k
2023: €274k
2024: €287k
2020 → 2025
Total assets
€276k▼ 48.7%
2024 · €538k
2020: €595k
2021: €557k
2022: €562k
2023: €565k
2024: €538k
2020 → 2025
Net result
€-174k
2024 · €12k
2020: €112k
2021: €5k
2022: €55k
2023: €-26k
2024: €12k
2020 → 2025
Working capital
€-11k▲ 90.1%
2024 · €-112k
2020: €-201k
2021: €-202k
2022: €-133k
2023: €-145k
2024: €-112k
2020 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€246k-€301k▲ 22.3%€274k▼ 8.8%€287k▲ 4.5%€113k▼ 60.7%
Operating result€13k-€82k▲ 554%€34k▼ 58.2%€23k▼ 32.3%€-167k
Net result€5k-€55k▲ 1,071%€-26k€12k€-174k
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €167k after €23k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €276k
Fixed assets
€169k▼ 62.9%
Current assets
€107k▲ 30.5%
Equity and liabilities €276k
Equity
€113k▼ 60.7%
Debt
€163k▼ 35.0%
The debt ratio rises from 46.8% to 59.2%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-154k▼
2024 · €56k
Cash flow
€-161k▼
2024 · €45k
Solvency
40.8%▼
2024 · 53.2%
Current ratio
0.91▲
2024 · 0.42
Quick ratio
0.91▲
2024 · 0.42
Debt / equity
1.45▲
2024 · 0.88
ROE
-154.4%▼
2024 · 4.3%
ROA
-63.0%▼
2024 · 2.3%
Interest coverage
-22.99▼
2024 · 10.82
Debt
€163k▼
2024 · €252k
Debt ≤ 1 year
€118k▼
2024 · €194k
Debt > 1 year
€46k▼
2024 · €58k
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€538k€276k▼
Fixed assets21/28€457k€169k▼
Tangible fixed assets22/27€457k€169k▼
Furniture and vehicles24€4k€4k▼
Other tangible fixed assets26€452k€166k▼
Current assets29/58€82k€107k▲
Amounts receivable within one year40/41€24k€13k▼
Trade receivables40€24k€13k▼
Cash at bank and in hand54/58€58k€94k▲
Equity and liabilities
Total equity and liabilities10/49€538k€276k▼
Equity10/15€287k€113k▼
Contributions10/11€20k€20k=
Reserves13€266k€198k▼
Distributable reserves133€266k€198k▼
Profit (loss) carried forward14-€-106k
Amounts payable17/49€252k€163k▼
Amounts payable after more than one year17€58k€46k▼
Financial debts170/4€58k€46k▼
Amounts payable within one year42/48€194k€118k▼
Current portion of amounts payable after more than one year42€12k€12k▲
Trade debts44€85k€28k▼
Suppliers440/4€85k€28k▼
Taxes, remuneration and social security45€22k€8k▼
Taxes450/3€22k€8k▼
Other amounts payable47/48€76k€69k▼
Income statement
Code20242025
Remuneration, social security and pensions62€347-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€33k€13k▼
Other operating charges640/8€6k€5k▼
Non-recurring operating charges66A-€57k
Gross operating margin9900€62k€-92k▼
Operating profit (loss)9901€23k€-167k▼
Financial income75/76B€1-
Recurring financial income75€1-
Financial charges65/66B€5k€7k▲
Recurring financial charges65€5k€7k▲
Profit (loss) for the period before taxes9903€18k€-174k▼
Income taxes67/77€6k-
Profit (loss) for the period9904€12k€-174k▼
Profit (loss) for the period to be appropriated9905€12k€-174k▼
Appropriation of the result
Profit (loss) to be appropriated9906€12k€-174k▼
Transfer from equity791/2-€68k
Transfer to equity691/2€12k-
To other reserves6921€12k-
The notes to these accounts (15 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
2025
17-11
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 17 days late
31-03
Financial
Weakest financial yearnet €-174k ▼1523%
Net result drops to €-174k, the lowest in the series.
2024
04-10
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
31-03
Financial
Back to profitnet €12k
Net result €12k after one loss-making year.
2023
29-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2022
31-10
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2021
31-10
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2020
30-10
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2019
02-04
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 2 days late
2016
30-12
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2015
31-08
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema · 31 days late
2014
30-09
NBB filing
Annual accounts filed
fiscal year 2013 · abbreviated schema · 61 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
7 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, Balen · 1 establishment unit since 1993
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.
Molenstraat 3632490 BalenGround area
717 m²
Building footprint
106 m²
Volume, LiDAR
328 m³
Parcel 13342B1026/00K000, Flanders · tallest building 9.3 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Molenstraat 363, 2490 Balen
since 19932.060.561.496
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13342B1026/00K000 | Flanders | 717 m² | 1 · 106 m² | 9.3 m · 1 fl. |
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.
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Of 979 companies in sector 38210 we hold annual accounts for 586. 304 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded14-01-1993
Fiscal year end31-03
Activities, NACEBEL
37200
38210Materials recovery from waste
38323Waste collection, recovery and disposal activities
Sources
Crossroads Bank for EnterprisesNational Bank · 29 filingsAddress and cadastre registers
Data from official sources, last processed on 16-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
1 entryE-mail:migbvba@gmail.com