Summary
MIGB is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €3.04M and a net result of €583k. Equity is growing by ~22% per year across the filed fiscal years. Its solvency ranks better than 79% of 5547 sector peers (fiscal year 2025). The company has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The health score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
Credit check for your own amount and term
Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
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 21-05-2026, 71 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
71 d early
2024
41 d early
2023
70 d early
2022
68 d early
2021
58 d early
2020
144 d early
2019
50 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€3.04M▲ 23.8%
2024 · €2.45M
2018: €181k
2019: €175k▼ -3.1% vs 2018lowest in 8 years
2020: €269k▲ +53.8% vs 2019
2021: €1.71M▲ +536% vs 2020
2022: €2.29M▲ +33.9% vs 2021
2023: €2.31M▲ +1.0% vs 2022
2024: €2.45M▲ +6.0% vs 2023
2025: €3.04M▲ +23.8% vs 2024highest in 8 years
2018 → 2025
Net result
€583k▲ 321%
2024 · €139k
2018: €25k
2019: €-6k▼ -122% vs 2018lowest in 8 years
2020: €72k▲ +1401% vs 2019
2021: €29k▼ -60.4% vs 2020
2022: €580k▲ +1931% vs 2021
2023: €23k▼ -96.1% vs 2022
2024: €139k▲ +508% vs 2023
2025: €583k▲ +321% vs 2024highest in 8 years
2018 → 2025
Total assets
€3.60M▲ 0.1%
2024 · €3.59M
2018: €214k
2019: €197k▼ -8.1% vs 2018lowest in 8 years
2020: €442k▲ +124% vs 2019
2021: €3.09M▲ +598% vs 2020
2022: €3.14M▲ +1.9% vs 2021
2023: €3.12M▼ -0.8% vs 2022
2024: €3.59M▲ +15.2% vs 2023
2025: €3.60M▲ +0.1% vs 2024highest in 8 years
2018 → 2025
Solvency
84.3%▲ 16.1pp
2024 · 68.2%
2018: 84.2%
2019: 88.8%▲ +5.4% vs 2018highest in 8 years
2020: 60.9%▼ -31.4% vs 2019
2021: 55.5%▼ -8.9% vs 2020lowest in 8 years
2022: 72.9%▲ +31.4% vs 2021
2023: 74.2%▲ +1.8% vs 2022
2024: 68.2%▼ -8.0% vs 2023
2025: 84.3%▲ +23.6% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.71M-€2.29M▲ 33.9%€2.31M▲ 1.0%€2.45M▲ 6.0%€3.04M▲ 23.8%
2021: €1.71Mlowest in 5 years
2022: €2.29M▲ +33.9% vs 2021
2023: €2.31M▲ +1.0% vs 2022
2024: €2.45M▲ +6.0% vs 2023
2025: €3.04M▲ +23.8% vs 2024highest in 5 years
Operating result€48k-€259k▲ 435%€51k▼ 80.2%€206k▲ 301%€217k▲ 5.2%
2021: €48klowest in 5 years
2022: €259k▲ +435% vs 2021highest in 5 years
2023: €51k▼ -80.2% vs 2022
2024: €206k▲ +301% vs 2023
2025: €217k▲ +5.2% vs 2024
Net result€29k-€580k▲ 1,931%€23k▼ 96.1%€139k▲ 508%€583k▲ 321%
2021: €29k
2022: €580k▲ +1931% vs 2021
2023: €23k▼ -96.1% vs 2022lowest in 5 years
2024: €139k▲ +508% vs 2023
2025: €583k▲ +321% vs 2024highest in 5 years
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 5% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.60M
Fixed assets
€3.17M ▼ 2.6%
Current assets
€429k ▲ 26.4%
Equity and liabilities €3.60M
Equity
€3.04M ▲ 23.8%
Debt
€564k ▼ 50.6%
Debt's share of the balance-sheet total falls from 31.8% to 15.7%. Equity is higher and debt is lower.
Key figures and ratios
ROE
19.2%▲
2024 · 5.6%
ROA
16.2%▲
2024 · 3.9%
Debt ≤ 1 year
€253k▼
2024 · €735k
Debt > 1 year
€305k▼
2024 · €400k
Income taxes
€53k▲
2024 · €50k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 48 lines
Balance sheet
Code20242025
Assets
Total assets20/58€3.59M€3.60M▲
Fixed assets21/28€3.26M€3.17M▼
Intangible fixed assets21€82k€66k▼
Tangible fixed assets22/27€26k€24k▼
Plant, machinery and equipment23-€0
Furniture and vehicles24€26k€24k▼
Financial fixed assets28€3.15M€3.08M▼
Current assets29/58€339k€429k▲
Amounts receivable within one year40/41€286k€410k▲
Trade receivables40€18k€13k▼
Other amounts receivable41€267k€397k▲
Cash at bank and in hand54/58€47k€16k▼
Deferred charges and accrued income490/1€7k€4k▼
Equity and liabilities
Total equity and liabilities10/49€3.59M€3.60M▲
Equity10/15€2.45M€3.04M▲
Contributions10/11€1.64M€1.64M=
Profit (loss) carried forward14€810k€1.39M▲
Amounts payable17/49€1.14M€564k▼
Amounts payable after more than one year17€400k€305k▼
Financial debts170/4€400k€305k▼
Amounts payable within one year42/48€735k€253k▼
Current portion of amounts payable after more than one year42€127k€97k▼
Financial debts43-€8k
Credit institutions430/8-€8k
Trade debts44€295€26k▲
Suppliers440/4€295€26k▲
Taxes, remuneration and social security45€6k€5k▼
Taxes450/3€6k€5k▼
Remuneration and social security454/9€147€0▼
Other amounts payable47/48€602k€117k▼
Accrued charges and deferred income492/3€7k€6k▼
Income statement
Code20242025
Remuneration, social security and pensions62€26k-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€22k€24k▲
Other operating charges640/8€1k€2k▲
Gross operating margin9900€256k€243k▼
Operating profit (loss)9901€206k€217k▲
Financial income75/76B€10€610k▲
Recurring financial income75€10€610k▲
Financial charges65/66B€17k€191k▲
Recurring financial charges65€17k€13k▼
Non-recurring financial charges66B-€177k
Profit (loss) for the period before taxes9903€189k€636k▲
Income taxes67/77€50k€53k▲
Profit (loss) for the period9904€139k€583k▲
Profit (loss) for the period to be appropriated9905€139k€583k▲
Appropriation of the result
Profit (loss) to be appropriated9906€810k€1.39M▲
Profit (loss) brought forward from the previous period14P€671k€810k▲
Social balance
Average headcount (FTE)90870.5-
The notes to these accounts (20 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €40k | €76k | €56k | €26k | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €16k | €16k | €16k | €22k | €24k | ▲ 11.5% |
| Other operating charges640/8 | €348 | €413 | €1k | €1k | €2k | ▲ 85.1% |
| Gross operating margin9900 | €105k | €352k | €125k | €256k | €243k | ▼ 4.8% |
| Operating profit (loss)9901 | €48k | €259k | €51k | €206k | €217k | ▲ 5.2% |
| Financial income75/76B | €5k | €400k | - | €10 | €610k | ▲ 6,226,215% |
| Recurring financial income75 | €5k | €400k | - | €10 | €610k | ▲ 6,226,215% |
| Financial charges65/66B | €12k | €15k | €18k | €17k | €191k | ▲ 1,014% |
| Recurring financial charges65 | €12k | €15k | €18k | €17k | €13k | ▼ 21.9% |
| Non-recurring financial charges66B | - | - | - | - | €177k | - |
| Profit (loss) for the period before taxes9903 | €42k | €645k | €34k | €189k | €636k | ▲ 237% |
| Income taxes67/77 | €13k | €65k | €11k | €50k | €53k | ▲ 5.8% |
| Profit (loss) for the period9904 | €29k | €580k | €23k | €139k | €583k | ▲ 321% |
| Profit (loss) for the period to be appropriated9905 | €29k | €580k | €23k | €139k | €583k | ▲ 321% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.09M | €3.14M | €3.12M | €3.59M | €3.60M | ▲ 0.1% |
| Fixed assets21/28 | €3.01M | €2.99M | €2.97M | €3.26M | €3.17M | ▼ 2.6% |
| Intangible fixed assets21 | €131k | €115k | €98k | €82k | €66k | ▼ 19.7% |
| Tangible fixed assets22/27 | - | - | - | €26k | €24k | ▼ 5.5% |
| Plant, machinery and equipment23 | - | - | - | - | €0 | - |
| Furniture and vehicles24 | - | - | - | €26k | €24k | ▼ 5.5% |
| Financial fixed assets28 | €2.88M | €2.88M | €2.88M | €3.15M | €3.08M | ▼ 2.1% |
| Current assets29/58 | €81k | €155k | €146k | €339k | €429k | ▲ 26.4% |
| Amounts receivable within one year40/41 | €65k | €148k | €97k | €286k | €410k | ▲ 43.3% |
| Trade receivables40 | €15k | €41k | €28k | €18k | €13k | ▼ 30.0% |
| Other amounts receivable41 | €50k | €107k | €69k | €267k | €397k | ▲ 48.4% |
| Cash at bank and in hand54/58 | €16k | €6k | €46k | €47k | €16k | ▼ 66.3% |
| Deferred charges and accrued income490/1 | €125 | - | €3k | €7k | €4k | ▼ 49.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.09M | €3.14M | €3.12M | €3.59M | €3.60M | ▲ 0.1% |
| Equity10/15 | €1.71M | €2.29M | €2.31M | €2.45M | €3.04M | ▲ 23.8% |
| Contributions10/11 | €1.64M | €1.64M | €1.64M | €1.64M | €1.64M | = |
| Profit (loss) carried forward14 | €68k | €648k | €671k | €810k | €1.39M | ▲ 72.0% |
| Amounts payable17/49 | €1.38M | €853k | €806k | €1.14M | €564k | ▼ 50.6% |
| Amounts payable after more than one year17 | €613k | €516k | €416k | €400k | €305k | ▼ 23.7% |
| Financial debts170/4 | €613k | €516k | €416k | €400k | €305k | ▼ 23.7% |
| Amounts payable within one year42/48 | €756k | €331k | €380k | €735k | €253k | ▼ 65.6% |
| Current portion of amounts payable after more than one year42 | €131k | €121k | €127k | €127k | €97k | ▼ 23.4% |
| Financial debts43 | €12k | €10k | €85k | - | €8k | - |
| Credit institutions430/8 | €12k | €10k | €85k | - | €8k | - |
| Trade debts44 | €1k | €13k | €252 | €295 | €26k | ▲ 8,618% |
| Suppliers440/4 | €1k | €13k | €252 | €295 | €26k | ▲ 8,618% |
| Taxes, remuneration and social security45 | €17k | €32k | €18k | €6k | €5k | ▼ 24.2% |
| Taxes450/3 | €11k | €20k | €18k | €6k | €5k | ▼ 22.5% |
| Remuneration and social security454/9 | €6k | €13k | - | €147 | €0 | ▼ 100% |
| Other amounts payable47/48 | €595k | €155k | €150k | €602k | €117k | ▼ 80.6% |
| Accrued charges and deferred income492/3 | €6k | €6k | €9k | €7k | €6k | ▼ 6.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €29k | €580k | €23k | €139k | €583k | ▲ 321% |
| + Depreciation and write-downs630 | €16k | €16k | €16k | €22k | €24k | ▲ 11.5% |
| Operating cash flow (approximation) | €45k | €596k | €39k | €160k | €607k | ▲ 278% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €-304k | €60k | ▲ 120% |
| Change in cash | - | €-10k | €40k | €513 | €-31k | ▼ 6,120% |
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
21-08
State Gazette act
RestructuringAppointment: Danny Praet - Bedrijfsrevisor (statutory auditor) · Merger · Accounting effect13 facts ▸
State Gazette act
Restructuring
Appointment: Danny Praet - Bedrijfsrevisor (statutory auditor) · Merger · Accounting effect13 facts ▸
- Board meeting, 12-08-2026
- Merger, absorption
- Accounting effect, 01-06-2026
- Net-asset statement, 31-05-2026
- Auditor appointment, Danny Praet - Bedrijfsrevisor
- Capital, €1.643.460
- Capital, €300.000
- Share exchange, substantiële waarde, art. 12:25 WVV
- Shareholding, alle aandelen van de overgenomen vennootschap behoren aan de aandeelhouder van de overnemende vennootschap
- Deadline, 27-10-2026
- Filing deadline, 31-08-2026
- Tax treatment, belastingneutraal
- +1 further facts in this act
21-05
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2018net €583k ▲321%
Net result €583k, the highest in the series.
31-12
Financial
Liquidity quadruplescurrent ratio 1.70
Current ratio from 0.46 to 1.70; short-term debt falls from €735k to €253k.
20-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
22-05
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
24-05
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Equity above €2MEq €2.29M ▲33.9%
3 profitable years in a row build equity to €2.29M.
03-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Equity above €1MEq €1.71M ▲536%
2 profitable years in a row build equity to €1.71M.
09-03
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Back to profitnet €72k
Net result €72k after one loss-making year.
Show earlier events
31-12
Financial
Liquidity quadruplescurrent ratio 1.89
Current ratio from 0.45 to 1.89.
31-12
Financial
Equity above €200kEq €269k ▲53.8%
Equity rises from €175k to €269k.
11-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Weakest financial yearnet €-6k
Net result drops to €-6k, the lowest in the series; recovery starts the following year.
27-05
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
05-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
26-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 9 acts read
About the unread acts
Of the 9 Belgian State Gazette acts we know for this company, 1 has been read. The other 8 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Location & real-estate footprint
Registered office, Sint-Martens-Latem · 1 establishment unit since 2009
Ground area
1,316 m²
Building footprint
180 m²
Volume, LiDAR
835 m³
Parcel 44064B0877/02E000, Flanders · tallest building 6.5 m, ±1 floor. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
MIGB
since 20092.177.244.776
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44064B0877/02E000 | Flanders | 1,316 m² | 1 · 180 m² | 6.5 m · 1 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.
Statutory auditor
1 auditor| Danny Praet - BedrijfsrevisorCurrent Auditor | 13-08-2026 → present |
Structure & network
Acquisitions and mergers
1 transactionTook over:M2GB
Capital and shareholders
Capital over the years
- 21-08-2026 Capital stated in the act · 1,643,460 EUR · 6,916 shares
Public money · subsidies and aid
Flemish government
2023 · 1 entry · 419 EUR awarded| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 419 EUR | 0 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 24,730 companies in sector 64210 we hold annual accounts for 19,766. 9,677 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
Founded12-03-2009
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
70200Business and other management consultancy
73300Public relations and communication consultancy
Scores and ratios are computed by Checked and are not a credit decision.