MIGULIEN
ActiveSummary
MIGULIEN has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €307k and a net result of €3k. Equity is shrinking by ~4% per year across the filed fiscal years. Its solvency ranks better than 84% of 31791 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability70▼-2
Solvency100=
Growth32=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days acceptable
Liquidity ample (current ratio 1.86 against 1.94 in 2024; short-term debt: 12.9% and cash: 2.4% of total assets), and 13.2% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers 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 · 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
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
86.8%
Return on assets
1%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 25-08-2026, 25 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
25 d late
2024
9 d early
2023
1 d late
2022
24 d early
2021
16 d early
2020
17 d early
2019
15 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, micro schema
Equity
€307k▼ 8.0%
2024 · €334k
2018: €401k
2019: €402k▲ +0.1% vs 2018
2020: €408k▲ +1.5% vs 2019highest in 8 years
2021: €397k▼ -2.7% vs 2020
2022: €353k▼ -11.1% vs 2021
2023: €350k▼ -0.8% vs 2022
2024: €334k▼ -4.6% vs 2023
2025: €307k▼ -8.0% vs 2024lowest in 8 years
2018 → 2025
Total assets
€354k▼ 8.9%
2024 · €389k
2018: €523k
2019: €535k▲ +2.3% vs 2018highest in 8 years
2020: €534k▼ -0.1% vs 2019
2021: €509k▼ -4.8% vs 2020
2022: €470k▼ -7.8% vs 2021
2023: €411k▼ -12.5% vs 2022
2024: €389k▼ -5.3% vs 2023
2025: €354k▼ -8.9% vs 2024lowest in 8 years
2018 → 2025
Net result
€3k▼ 62.5%
2024 · €9k
2018: €13k
2019: €31k▲ +132% vs 2018
2020: €36k▲ +18.0% vs 2019highest in 8 years
2021: €19k▼ -47.6% vs 2020
2022: €6k▼ -68.5% vs 2021
2023: €10k▲ +67.9% vs 2022
2024: €9k▼ -9.3% vs 2023
2025: €3k▼ -62.5% vs 2024lowest in 8 years
2018 → 2025
Working capital
€39k▼ 24.2%
2024 · €52k
2018: €128k
2019: €130k▲ +2.0% vs 2018
2020: €142k▲ +9.4% vs 2019
2021: €145k▲ +1.7% vs 2020highest in 8 years
2022: €94k▼ -35.2% vs 2021
2023: €66k▼ -30.0% vs 2022
2024: €52k▼ -21.2% vs 2023
2025: €39k▼ -24.2% vs 2024lowest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€397k-€353k▼ 11.1%€350k▼ 0.8%€334k▼ 4.6%€307k▼ 8.0%
2021: €397khighest in 5 years
2022: €353k▼ -11.1% vs 2021
2023: €350k▼ -0.8% vs 2022
2024: €334k▼ -4.6% vs 2023
2025: €307k▼ -8.0% vs 2024lowest in 5 years
Operating result€19k-€6k▼ 66.4%€14k▲ 119%€14k▲ 2.2%€6k▼ 54.1%
2021: €19khighest in 5 years
2022: €6k▼ -66.4% vs 2021lowest in 5 years
2023: €14k▲ +119% vs 2022
2024: €14k▲ +2.2% vs 2023
2025: €6k▼ -54.1% vs 2024
Net result€19k-€6k▼ 68.5%€10k▲ 67.9%€9k▼ 9.3%€3k▼ 62.5%
2021: €19khighest in 5 years
2022: €6k▼ -68.5% vs 2021
2023: €10k▲ +67.9% vs 2022
2024: €9k▼ -9.3% vs 2023
2025: €3k▼ -62.5% vs 2024lowest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 54% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €354k
Fixed assets
€269k ▼ 4.6%
Current assets
€85k ▼ 20.3%
Equity and liabilities €354k
Equity
€307k ▼ 8.0%
Debt
€47k ▼ 14.9%
Debt's share of the balance-sheet total falls from 14.1% to 13.2%. Equity and debt are lower.
Key figures and ratios
EBITDA
€20k▼
2024 · €29k
Cash flow
€16k▼
2024 · €24k
Current ratio
1.86▼
2024 · 1.94
Debt to equity
0.15▼
2024 · 0.16
ROE
1.1%▼
2024 · 2.7%
ROA
1.0%▼
2024 · 2.3%
Interest coverage
6.48▼
2024 · 8.14
Debt ≤ 1 year
€46k▼
2024 · €55k
Income taxes
€3k▼
2024 · €5k
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 · 51 lines
Balance sheet
Code20242025
Assets
Total assets20/58€389k€354k▼
Fixed assets21/28€282k€269k▼
Tangible fixed assets22/27€282k€269k▼
Land and buildings22€251k€242k▼
Plant, machinery and equipment23€30k€27k▼
Furniture and vehicles24€2k€1k▼
Current assets29/58€107k€85k▼
Amounts receivable after more than one year29€75k€22k▼
Other amounts receivable291€75k€22k▼
Amounts receivable within one year40/41€21k€53k▲
Trade receivables40-€11k
Other amounts receivable41€21k€42k▲
Cash at bank and in hand54/58€11k€8k▼
Deferred charges and accrued income490/1€353€2k▲
Equity and liabilities
Total equity and liabilities10/49€389k€354k▼
Equity10/15€334k€307k▼
Contributions10/11€20k€20k=
Reserves13€314k€287k▼
Non-distributable reserves130/1€7k€7k=
Reserves not available under the articles1311€7k€7k=
Tax-exempt reserves132€712€712=
Distributable reserves133€307k€280k▼
Amounts payable17/49€55k€47k▼
Amounts payable within one year42/48€55k€46k▼
Current portion of amounts payable after more than one year42€10k-
Financial debts43€10k€8k▼
Other loans439€10k€8k▼
Trade debts44€2k€1k▼
Suppliers440/4€2k€1k▼
Taxes, remuneration and social security45€9k€8k▼
Taxes450/3€9k€8k▼
Other amounts payable47/48€24k€29k▲
Accrued charges and deferred income492/3-€975
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€15k€13k▼
Other operating charges640/8€4k€2k▼
Gross operating margin9900€33k€21k▼
Operating profit (loss)9901€14k€6k▼
Financial income75/76B€4k€3k▼
Recurring financial income75€4k€3k▼
Financial charges65/66B€4k€3k▼
Recurring financial charges65€4k€3k▼
Profit (loss) for the period before taxes9903€14k€6k▼
Income taxes67/77€5k€3k▼
Profit (loss) for the period9904€9k€3k▼
Profit (loss) for the period to be appropriated9905€9k€3k▼
Appropriation of the result
Profit (loss) to be appropriated9906€9k€3k▼
Transfer from equity791/2€25k€30k▲
Transfer to equity691/2€9k€3k▼
To other reserves6921€9k€3k▼
Profit to be distributed694/7€25k€30k▲
Return on contributions (dividend)694€25k€30k▲
The notes to these accounts (6 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €17k | €18k | €18k | €15k | €13k | ▼ 9.8% |
| Other operating charges640/8 | €3k | €4k | €5k | €4k | €2k | ▼ 51.6% |
| Gross operating margin9900 | €39k | €28k | €37k | €33k | €21k | ▼ 34.1% |
| Operating profit (loss)9901 | €19k | €6k | €14k | €14k | €6k | ▼ 54.1% |
| Financial income75/76B | €11k | €8k | €5k | €4k | €3k | ▼ 23.2% |
| Recurring financial income75 | €11k | €8k | €5k | €4k | €3k | ▼ 23.2% |
| Financial charges65/66B | €3k | €2k | €3k | €4k | €3k | ▼ 14.1% |
| Recurring financial charges65 | €3k | €2k | €3k | €4k | €3k | ▼ 14.1% |
| Profit (loss) for the period before taxes9903 | €26k | €13k | €16k | €14k | €6k | ▼ 56.0% |
| Income taxes67/77 | €7k | €7k | €6k | €5k | €3k | ▼ 44.7% |
| Profit (loss) for the period9904 | €19k | €6k | €10k | €9k | €3k | ▼ 62.5% |
| Profit (loss) for the period to be appropriated9905 | €19k | €6k | €10k | €9k | €3k | ▼ 62.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €509k | €470k | €411k | €389k | €354k | ▼ 8.9% |
| Fixed assets21/28 | €292k | €290k | €297k | €282k | €269k | ▼ 4.6% |
| Tangible fixed assets22/27 | €292k | €290k | €297k | €282k | €269k | ▼ 4.6% |
| Land and buildings22 | €285k | €273k | €261k | €251k | €242k | ▼ 3.6% |
| Plant, machinery and equipment23 | €5k | €15k | €33k | €30k | €27k | ▼ 10.8% |
| Furniture and vehicles24 | €2k | €2k | €3k | €2k | €1k | ▼ 43.8% |
| Current assets29/58 | €217k | €180k | €114k | €107k | €85k | ▼ 20.3% |
| Amounts receivable after more than one year29 | €163k | €135k | €87k | €75k | €22k | ▼ 70.0% |
| Other amounts receivable291 | €163k | €135k | €87k | €75k | €22k | ▼ 70.0% |
| Amounts receivable within one year40/41 | €34k | €38k | €19k | €21k | €53k | ▲ 149% |
| Trade receivables40 | €13k | €13k | €14k | - | €11k | - |
| Other amounts receivable41 | €21k | €25k | €5k | €21k | €42k | ▲ 96.9% |
| Cash at bank and in hand54/58 | €20k | €7k | €7k | €11k | €8k | ▼ 19.9% |
| Deferred charges and accrued income490/1 | - | - | €341 | €353 | €2k | ▲ 343% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €509k | €470k | €411k | €389k | €354k | ▼ 8.9% |
| Equity10/15 | €397k | €353k | €350k | €334k | €307k | ▼ 8.0% |
| Contributions10/11 | €20k | €20k | €20k | €20k | €20k | = |
| Reserves13 | €377k | €333k | €330k | €314k | €287k | ▼ 8.5% |
| Non-distributable reserves130/1 | €7k | €7k | €7k | €7k | €7k | = |
| Reserves not available under the articles1311 | €7k | €7k | €7k | €7k | €7k | = |
| Tax-exempt reserves132 | €712 | €712 | €712 | €712 | €712 | = |
| Distributable reserves133 | €370k | €326k | €323k | €307k | €280k | ▼ 8.7% |
| Amounts payable17/49 | €112k | €117k | €61k | €55k | €47k | ▼ 14.9% |
| Amounts payable after more than one year17 | €40k | €31k | €13k | - | - | - |
| Financial debts170/4 | €40k | €31k | €13k | - | - | - |
| Amounts payable within one year42/48 | €72k | €86k | €48k | €55k | €46k | ▼ 16.7% |
| Current portion of amounts payable after more than one year42 | €15k | €18k | €15k | €10k | - | - |
| Financial debts43 | €8k | €8k | €11k | €10k | €8k | ▼ 22.9% |
| Other loans439 | €8k | €8k | €11k | €10k | €8k | ▼ 22.9% |
| Trade debts44 | €2k | €2k | €2k | €2k | €1k | ▼ 30.0% |
| Suppliers440/4 | €2k | €2k | €2k | €2k | €1k | ▼ 30.0% |
| Taxes, remuneration and social security45 | €19k | €10k | €8k | €9k | €8k | ▼ 8.9% |
| Taxes450/3 | €19k | €10k | €8k | €9k | €8k | ▼ 8.9% |
| Other amounts payable47/48 | €29k | €48k | €12k | €24k | €29k | ▲ 20.0% |
| Accrued charges and deferred income492/3 | - | - | €23 | - | €975 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €19k | €6k | €10k | €9k | €3k | ▼ 62.5% |
| + Depreciation and write-downs630 | €17k | €18k | €18k | €15k | €13k | ▼ 9.8% |
| Operating cash flow (approximation) | €36k | €24k | €28k | €24k | €16k | ▼ 30.1% |
| Investment in fixed assets (approximation) | - | €-16k | €-25k | €0 | €0 | - |
| Change in cash | - | €-13k | €350 | €3k | €-2k | ▼ 165% |
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
25-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 25 days late
2025
31-12
Financial
Weakest financial yearnet €3k ▼62.5%
Net result drops to €3k, the lowest in the series.
22-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
01-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 1 day late
2023
07-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
15-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
14-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Highest result since 2018net €36k ▲18%
Operating result €35k, net result €36k, both a record.
16-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
19-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
06-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
07-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
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Directors · office · real estate
Directors
5 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, Haacht · 1 establishment unit since 1999
Ground area
918 m²
Building footprint
140 m²
Volume, LiDAR
752 m³
Parcel 24122A0248/00N000, Flanders · tallest building 7.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MIGULIEN
since 19992.092.634.250
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24122A0248/00N000 | Flanders | 918 m² | 1 · 140 m² | 7.0 m · 2 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.
Public money · subsidies and aid
Flemish government
2023 to 2024 · 2 entries · 279 EUR awarded · 279 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 78 EUR | 78 EUR |
| 2023 | 1 | 201 EUR | 201 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 82,553 companies in sector 70200 we hold annual accounts for 52,585. 38,011 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
Founded22-07-1999
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
Contact
E-mail
lieve.buyl@migulien.be
Scores and ratios are computed by Checked and are not a credit decision.