MIGUSA
ActiveSummary
MIGUSA has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €7k and a net result of €-5k. Equity is growing by ~18.6% per year across the filed fiscal years. Its solvency ranks better than 50% of 7750 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2025
46
/ 100
Fair
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0▼-81
Solvency75▼-9
Growth52▼-26
Track record94
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
Credit advice for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 82
Relative position
BE, all sectors
reference
Sector 82
lower
← fewer bankruptcies
more bankruptcies →
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
50.3%
Return on assets
-39.4%
Age of the figures
15 mo
neutral · A punctual record breaks
This company filed 3 consecutive financial years on time. The year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 02-02-2026, 2 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 · 4 filingsDeviation from the deadline
2025
2 d late
2024
47 d early
2023
61 d early
2022
12 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 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close24-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€7k▼ 43.9%
2024 · €12k
2022: €3k
2023: €10k
2024: €12k
2022 → 2025
Total assets
€14k▼ 34.1%
2024 · €21k
2022: €10k
2023: €21k
2024: €21k
2022 → 2025
Net result
€-5k
2024 · €2k
2022: €133
2023: €7k
2024: €2k
2022 → 2025
Working capital
€4k▼ 46.9%
2024 · €7k
2022: €4k
2023: €4k
2024: €7k
2022 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2022202320242025Trend
Equity€3k-€10k▲ 230%€12k▲ 18.9%€7k▼ 43.9%
Operating result€1k-€11k▲ 717%€4k▼ 63.1%€-5k
Net result€133-€7k▲ 5,325%€2k▼ 72.8%€-5k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €5k after €4k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €14k
Fixed assets
€4k ▼ 31.6%
Current assets
€10k ▼ 35.0%
Equity and liabilities €14k
Equity
€7k ▼ 43.9%
Debt
€7k ▼ 19.8%
Debt's share of the balance-sheet total rises from 40.8% to 49.7%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-3k▼
2024 · €6k
Cash flow
€-4k▼
2024 · €4k
Current ratio
1.57▼
2024 · 1.80
Quick ratio
1.41▼
2024 · 1.69
Debt to equity
0.99▲
2024 · 0.69
ROE
-78.4%▼
2024 · 15.9%
ROA
-39.4%▼
2024 · 9.4%
Interest coverage
-18.47▼
2024 · 28.20
Debt ≤ 1 year
€6k▼
2024 · €8k
Income taxes
€213▼
2024 · €2k
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 · 42 lines
Balance sheet
Code20242025
Assets
Total assets20/58€21k€14k▼
Fixed assets21/28€6k€4k▼
Tangible fixed assets22/27€6k€4k▼
Plant, machinery and equipment23€6k€4k▼
Current assets29/58€15k€10k▼
Stocks and contracts in progress3€870€998▲
Stocks30/36€870€998▲
Amounts receivable within one year40/41€6k€7k▲
Trade receivables40€6k€7k▲
Cash at bank and in hand54/58€7k€1k▼
Deferred charges and accrued income490/1€640€0▼
Equity and liabilities
Total equity and liabilities10/49€21k€14k▼
Equity10/15€12k€7k▼
Contributions10/11€3k€3k=
Reserves13€9k€9k=
Distributable reserves133€9k€9k=
Profit (loss) carried forward14€228€-5k▼
Amounts payable17/49€8k€7k▼
Amounts payable within one year42/48€8k€6k▼
Trade debts44€1k€1k▼
Suppliers440/4€1k€1k▼
Taxes, remuneration and social security45€6k€4k▼
Taxes450/3€6k€1k▼
Remuneration and social security454/9€0€3k▲
Other amounts payable47/48€1k€1k=
Accrued charges and deferred income492/3-€482
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2k€2k▲
Other operating charges640/8€118€0▼
Gross operating margin9900€6k€-3k▼
Operating profit (loss)9901€4k€-5k▼
Financial income75/76B€0€0▼
Recurring financial income75€0€0▼
Financial charges65/66B€209€176▼
Recurring financial charges65€209€176▼
Profit (loss) for the period before taxes9903€4k€-5k▼
Income taxes67/77€2k€213▼
Profit (loss) for the period9904€2k€-5k▼
Profit (loss) for the period to be appropriated9905€2k€-5k▼
Appropriation of the result
Profit (loss) to be appropriated9906€2k€-5k▼
Profit (loss) brought forward from the previous period14P€224€228▲
Transfer to equity691/2€2k€0▼
To other reserves6921€2k€0▼
The notes to these accounts (4 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
2026
02-02
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 2 days late
2025
30-06
Financial
Weakest financial yearnet €-5k ▼376%
Net result drops to €-5k, the lowest in the series.
2024
15-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
01-12
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
30-06
Financial
Highest result since 2022net €7k ▲5325%
Operating result €11k, net result €7k, both a record.
19-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 act for this company is 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, Kalmthout · 1 establishment unit since 2021
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.
Kapellensteenweg (Dp) 4522920 KalmthoutGround area
1,429 m²
Building footprint
143 m²
Volume, LiDAR
675 m³
Parcel 11022F0001/00A132, Flanders · tallest building 13.4 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
MIGUSA
since 20212.319.512.302
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11022F0001/00A132 | Flanders | 1,429 m² | 1 · 143 m² | 13.4 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteKalmthout2.319.512.302
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Of 24,500 companies in sector 82990 we hold annual accounts for 9,404. 3,759 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded09-07-2021
Fiscal year end30-06
Activities, NACEBEL 2025
82990Other business support services
14299Manufacture of wearing apparel
73110Advertising agencies
93299Other amusement and recreation activities
Sources
Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.