Equity
€210,441 ▲ 44.8%
Equity rose in 2025 from €145,355 to €210,441.
MiL Construct
Overview
Lifetime
5 annual accounts with figures on one time axispeak €98,998 (2025)
€98,998▲ 32.3%
peak €65,086 (2025)
€65,086▲ 34.0%
peak €210,441 (2025)
€210,441▲ 44.8%
€46,825▼ 8.0%
Board1 name since 2021
1 directorLEFIN Michaël Noël Annie Louis Ghislain
Documentsfilings and deeds
30-07-20261 day before the deadline
2025micro format
Gross margin from €74,843 to €98,998Result from €48,581 to €65,086Equity from €145,355 to €210,441Cash from €37,541 to €49,740
Key points
from the 2025 annual accountsTurnover
≈ €420,000 estimated
The micro format states no turnover.
Liquidity
5.03 was 3.28 in 2024
Short-term debts fell from €50,887 to €46,825.
Filings
5 annual accounts 4 late
The 2021 accounts came latest: 164 days after the end of the period.
Starting capital
€10,000 100 shares
Position in the sector
€65,086
Higher net result than 90% of companies in specialised construction. Sector median €10,184 · 35,124 companies.
Checked score
90
Excellent
Financially stronger than 83% of micro companies in specialised construction (NACE 43)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.3% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.7% across 47,696 companies (NACE 43, micro).
About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 1.8%
01-2025: 1.7%▼ -0.1 percentage points vs 12-2024
02-2025: 1.8%▲ +0.1 percentage points vs 01-2025
03-2025: 1.8%● unchanged vs 02-2025
04-2025: 1.8%● unchanged vs 03-2025
05-2025: 1.8%● unchanged vs 04-2025
06-2025: 1.8%● unchanged vs 05-2025
07-2025: 1.9%▲ +0.1 percentage points vs 06-2025
08-2025: 2.3%▲ +0.4 percentage points vs 07-2025highest value
09-2025: 0.4%▼ -1.9 percentage points vs 08-2025
10-2025: 0.4%● unchanged vs 09-2025
11-2025: 0.4%● unchanged vs 10-2025
12-2025: 0.4%● unchanged vs 11-2025
01-2026: 0.4%● unchanged vs 12-2025
02-2026: 0.4%● unchanged vs 01-2026
03-2026: 0.4%● unchanged vs 02-2026
04-2026: 0.5%▲ +0.1 percentage points vs 03-2026
05-2026: 0.5%● unchanged vs 04-2026
06-2026: 0.5%● unchanged vs 05-2026
07-2026: 0.5%● unchanged vs 06-2026
08-2026: 0.3%▼ -0.2 percentage points vs 07-2026
09-2026: 0.3%● unchanged vs 08-2026
10-2026: 0.3%● unchanged vs 09-2026
11-2026: 0.3%● unchanged vs 10-2026lowest value
Financial strengthStrong
Score breakdown
raises risk
Size: total assets €257,266
Founded in 2021
lowers risk
Liquidity: current ratio 5.03, cash €49,740
Equity €210,441 (81.8% of total assets)
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 43, micro). It does better than 90% of them on solvency, 68% on liquidity, 92% on profitability and 81% on growth.
The bankruptcy probability was computed on 10-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 26,972 companies had the same profile as MiL Construct has now. Each dot stands for 68 companies, two years later.
94.9%
were still trading
3.4%
stopped another way
1.6%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MiL Construct itself: 0.3% within 12 months.
Test of the method
The method was tested on the 497,447 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 26,972 companies, not a prediction for MiL Construct. 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.
Credit verdict
Credit of up to €18,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 5.03 (3.28 in 2024), above the usual 1.5. Short-term debt is 18.2% and cash 19.3% of total assets. 18.2% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
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 30-07-2026, 1 day ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
1 day early
2024
20 days late
2023
6 days late
2022
30 days late
2021
164 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 5 accounts on average 44 days after the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 20 August (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
11-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- LEFIN Michaël Noël Annie Louis Ghislain 100 sharesdeed of 06-04-2021
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0765974158
Incorporation
Founding capital of €10,000, 100 shares · Founder: LEFIN Michaël Noël Annie Louis Ghislain (comparant) · Appointment: LEFIN Michaël Noël Annie Louis Ghislain (director) · published on 06-04-2021 · Gazette deed
First establishment
Rue des Sottais 11, Theux
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| MiL Construct Theux | €257,266 | €98,998 | 81.8% | - |
| Toiture Van Schoor Cédric Hamoir | €248,786 | €105,775 | 16.8% | - |
| Dak- en klinkerwerken Stesses Balen | €256,927 | €105,705 | 41.9% | - |
| DAKWERKEN ENZOVOORT Ghent | €268,311 | €106,334 | 36.9% | - |
| Dakwerken Debaene Oudenburg | €285,783 | €103,440 | 73.4% | - |
| Dakwerken DuJo Aalst | €256,542 | €89,620 | 36.4% | - |
| TELLIER TOITURES Ham-sur-Heure-Nalinnes | €271,458 | €101,117 | 45.1% | - |
These companies have the same main activity as MiL Construct: roofing work (NACE 43410). They are comparable in size and age: total assets between €249,000 and €286,000, founded between 2019 and 2021.
Official details
Source: KBO- Status
- Active since 01-04-2021Normal situation
- Activity
- Roofing workNACE 43410and 5 others
- Establishment unit
- 2.319.963.2524910 Theux, since 01-04-2021
- Financial year end
- 31 December
- Peppol
- Reachable since 02-02-2026
Annual accounts 2025
- €98,998▲ 32.3%
- €65,086▲ 34.0%
- €210,441▲ 44.8%
- €257,266▲ 31.1%
- Filing
- Filed on 30-07-2026, 1 day before the end of the filing period
Insights on MiL Construct
MiL Construct files the micro format. That format states no turnover. The gross margin rose from €37,607 in 2021 to €98,998 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Financials
Annual accounts 2025
micro format, filed on 30-07-2026, 1 day before the deadline€98,998
▲ 32.3%
€80,849
▲ 38.1%
€65,086
▲ 34.0%
€188,606
▲ 62.5%
81.8%
▲ 7.7 percentage points
5.03
▲ 1.75
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €420,000. Estimated: probably between €260,000 and €580,000.
Balance sheet
balance sheet total €257,266 on 31-12-2025What the company ownsHow it is paid for
in euro
in euro
Position in the sector
81.8%
Higher than 87% of 35,136 companies in 2025.
5.03
Higher than 85% of 34,510 companies in 2025.
25.3%
Higher than 83% of 34,711 companies in 2025.
MiL Construct
Middle half of the sector
80% of the sector
Micro accounts in specialised construction (NACE 43)
Net result: top quarter · Equity: top quarter · Balance sheet total: middle half · Working capital: top quarter
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||
20/58 |
257,266 | 196,242 | 125,845 | 101,251 | 70,136 | |
21/28 |
21,834 | 29,308 | 32,351 | 39,487 | 30,182 | |
21 |
180 | 498 | 816 | 1,133 | 1,451 | |
22/27 |
21,654 | 28,810 | 31,536 | 38,354 | 28,731 | |
23 |
13,135 | 12,484 | 3,843 | 3,364 | - | |
24 |
8,520 | 16,326 | 27,693 | 34,989 | 28,731 | |
29/58 |
235,431 | 166,933 | 93,494 | 61,764 | 39,954 | |
40/41 |
185,548 | 129,369 | 81,766 | 43,122 | 15,847 | |
40 |
22,072 | 19,689 | 47,596 | 29,810 | 11,906 | |
41 |
163,476 | 109,680 | 34,170 | 13,312 | 3,941 | |
54/58 |
49,740 | 37,541 | 11,706 | 18,473 | 24,107 | |
490/1 |
143 | 23 | 22 | 169 | - | |
| Balance sheet: equity and liabilities | ||||||
10/49 |
257,266 | 196,242 | 125,845 | 101,251 | 70,136 | |
10/15 |
210,441 | 145,355 | 96,773 | 64,509 | 39,102 | |
10/11 |
10,000 | 10,000 | 10,000 | 10,000 | 10,000 | |
14 |
200,441 | 135,355 | 86,773 | 54,509 | 29,102 | |
17/49 |
46,825 | 50,887 | 29,072 | 36,742 | 31,034 | |
42/48 |
46,825 | 50,887 | 29,072 | 36,742 | 31,034 | |
42 |
12,020 | - | - | - | - | |
44 |
6,038 | 8,569 | 3,355 | 8,740 | 15,991 | |
440/4 |
6,038 | 8,569 | 3,355 | 8,740 | 15,991 | |
45 |
28,767 | 42,318 | 25,717 | 28,002 | 12,629 | |
450/3 |
26,075 | 40,677 | 25,615 | 26,442 | 8,547 | |
454/9 |
2,693 | 1,640 | 103 | 1,560 | 4,082 | |
47/48 |
- | - | - | - | 2,414 | |
| Income statement | ||||||
9900 |
98,998 | 74,843 | 56,602 | 44,683 | 37,607 | |
62 |
3,281 | 2,250 | 2,515 | 2,196 | 306 | |
630 |
13,821 | 13,842 | 11,891 | 9,453 | 605 | |
640/8 |
1,047 | 209 | 417 | 599 | - | |
9901 |
80,849 | 58,542 | 41,780 | 32,436 | 36,696 | |
75/76B |
9,395 | 4,257 | 1,225 | - | - | |
75 |
9,395 | 4,257 | 1,225 | - | - | |
65/66B |
1,176 | 7 | 1,597 | 368 | 1 | |
65 |
1,176 | 7 | 1,597 | 368 | 1 | |
9903 |
89,068 | 62,792 | 41,409 | 32,067 | 36,695 | |
67/77 |
23,982 | 14,211 | 9,145 | 6,660 | 7,593 | |
9904 |
65,086 | 48,581 | 32,264 | 25,407 | 29,102 | |
9905 |
65,086 | 48,581 | 32,264 | 25,407 | 29,102 | |
| Appropriation of the result | ||||||
9906 |
200,441 | 135,355 | 86,773 | 54,509 | 29,102 | |
14P |
135,355 | 86,773 | 54,509 | 29,102 | - | |
| Document | ||||||
The notes to these accounts have 8 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 30-07-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 30-07-2026 | 2026-00355215 | |
| 31-12-2024 | micro format | 20-08-2025 | 2025-00384665 | |
| 31-12-2023 | micro format | 06-08-2024 | 2024-00330032 | |
| 31-12-2022 | micro format | 30-08-2023 | 2023-00378399 | |
| 31-12-2021 | micro format | 11-01-2023 | 2023-20556799 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| 94,670 | 72,384 | 53,671 | 41,888 | 37,301 | ||
| 78,907 | 62,424 | 44,155 | 34,860 | 29,707 | ||
| 6,347 | 10,799 | 4,755 | 18,758 | 30,787 | ||
| 12,199 | 25,835 | -6,767 | -5,634 | - | ||
| 188,606 | 116,046 | 64,422 | 25,022 | 8,920 | ||
| 81.8% | 74.1% | 76.9% | 63.7% | 55.8% | ||
| 5.03 | 3.28 | 3.22 | 1.68 | 1.29 | ||
| 0.22 | 0.35 | 0.30 | 0.57 | 0.79 | ||
| 30.9% | 33.4% | 33.3% | 39.4% | 74.4% | ||
| 25.3% | 24.8% | 25.6% | 25.1% | 41.5% | ||
| 80.53 | over 100 | 33.61 | over 100 | over 100 |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €6,347 | €10,799 | €4,755 | €18,758 | €29,198 |
| Intangible fixed assets | - | - | - | - | €1,589 |
| €13,821 | €13,842 | €11,891 | €9,453 | €605 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on MiL Construct
The operating result for 2025 is 38% higher than in 2024 and the highest since 2021. It is the third rise in a row, after the fall in 2022.
Debt's share of the balance-sheet total falls from 25.9% to 18.2%. Equity is higher and debt is lower.
Board & ownership
Board
1 director, since incorporationDirector
appointed by deed of 06-04-2021
term without a fixed end
Mandates through the years
1 name, the dashed line is todayBoard
Mandates as a list
- LEFIN Michaël Noël Annie Louis Ghislain
- Director, appointed by deed of 06-04-2021, still in office
Control
This company
MiL Construct
Equity €210,441
Profit €65,086 in 2025
Capital
- Contribution
- €10,000
- Shares
- 100
- Contribution per share
- €100
- Equity per share
- €2,104 in 2025
- Source
- deed of 06-04-2021
Articles of association
deed of 06-04-2021 (in French)- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimited
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- 1 director
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- First Friday of June at 18:00
Shareholders
At incorporation
deed of 06-04-2021 ↗
- LEFIN Michaël Noël Annie Louis Ghislain 100 shares (100%) · €10,000 in cash
Network & group
No group
MiL Construct has no parent and no holdings in its annual accounts. LEFIN Michaël Noël Annie Louis Ghislain is the only director. MiL Construct shares no director with another company.
At the same address
Rue des Sottais 11, 4910 Theux · 1 other company| Lefin, Michaël (sole trader)
establishment since 01-10-2024 |
founded in 2020 0713.312.165 |
Timeline
Timeline
11 events since 2021Filings
Financial
Establishments
202220242026
Deadline for the 2026 accounts: 31-07-2027
2026
Annual accounts 2025 filed NBBmicro format · 1 day before the deadline
Registered in the Peppol Directory Reachable for e-invoices through 0208:0765974158
2025
Highest result from 2021 to 2025 net €65,086 ▲34% The operating result of €80,849 and the net result of €65,086 are both a record.
Equity above €200,000 equity €210,441 ▲44.8% With a profit in every financial year since 2021, equity grows to €210,441.
Annual accounts 2024 filed PDFmicro format · 20 days late
2024
Equity above €100,000 equity €145,355 ▲50.2% With a profit in every financial year since 2021, equity grows to €145,355.
Annual accounts 2023 filed PDFmicro format · 6 days late
2023
Annual accounts 2022 filed PDFmicro format · 30 days late
Annual accounts 2021 filed PDFmicro format · 164 days late
2021
IncorporationFounding capital of €10,000, 100 shares · Founder: LEFIN Michaël Noël Annie Louis Ghislain (comparant) · Appointment: LEFIN Michaël Noël Annie Louis Ghislain (director) · published on 06-04-20215 points ▸
- Founder, LEFIN Michaël Noël Annie Louis Ghislain (comparant)
- Founding capital, €10,000, 100 shares
- 100 shares
- Registered office clause, rue des Sottais 11, 4910 Theux
- Director appointment, LEFIN Michaël Noël Annie Louis Ghislain
- The deed holds 7 more points.
First establishment Rue des Sottais 11, Theux
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
History
On 1 April 2021, MiL Construct was incorporated as a private limited company by one natural person, with a starting capital of €10,000.12 LEFIN Michaël Noël Annie Louis Ghislain is director of the company, appointed by deed of 06-04-2021.2 Total assets went from €70,136 in 2021 to €257,266 in 2025.3
Company details
Identity
- Enterprise number
- 0765.974.158
- VAT number
- BE 0765.974.158
- Peppol ID
- 0208:0765974158
- Other Peppol ID
- 9925:BE0765974158
- Legal form
- Private limited company
- Status
- Active, normal situation
- Founded
- 01-04-2021
- Financial year
- ends on 31 December
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- First Friday of June at 18:00deed of 06-04-2021 (in French)
- Peppol
- Reachable since 02-02-2026Follow this company and you will hear the next morning if it leaves the Peppol register.
- Name
- MiL Construct in French
- Entity type
- Legal entity
- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimiteddeed of 06-04-2021 (in French)
- Name clauseThe company operates under this name according to its articles.
- MiL Constructdeed of 06-04-2021 (in French)
Activities
NACEBEL 202543410
Roofing work main activity
Codes under NACEBEL 2008
43910
Specialised construction activities main activity
25999
Manufacture of fabricated metal products, except machinery and equipment
43991
Specialised construction activities
43994
Specialised construction activities
53200
Other postal and courier activities
70210
Activities of head offices; management consultancy activities
- PurposeThe purpose describes the activities the company may carry out under its articles.
- “Toutes opérations financières,commerciales ou industrielles se rapportant à la construction,la rénovation,l’aménagement de bâtiments de…”deed of 06-04-2021 (in French)
9 activities
- Toutes opérations financières,commerciales ou industrielles se rapportant à la construction,la rénovation,l’aménagement de bâtiments de toute nature,travaux publics ou privés
- Tous travaux de couverture,de bardage et de construction métallique
- L’assistance et la participation à la gestion de toutes affaires,entreprises,groupements,association ou société pour compte propre,pour compte de tiers ou en participations,en Belgique et à l’étranger
- Toutes activités de conseils en matière de gestion,d’informatique,de vente,de marketing,d’organisation financière,administrative ou autre,et de ressources humaines,à l’exclusion des activités règlementées par la loi du 4 décembre 1990 relative aux opérations financières et aux marchés financiers
- La consultance dans le cadre de toutes les activités reprises dans son objet
- L’organisation d’actions marketing et de présentations commerciales
- Toutes activités de recherche de clients,de partenaires et la gestion des relations publiques pour des sociétés associées ou tierces
- L’organisation d’activités de motivation pour le personnel de sociétés associées ou tierces
- La mise à disposition de ressources humaines dans le cadre de projets
Registered office and establishments
1 establishment| Establishment | Since | Unit number |
|---|---|---|
| Rue des Sottais 11 registered office 4910 Theux | 01-04-2021 | 2.319.963.252 |
Buildings and parcels at the address
- Ground area
- 321 m²
- Buildings
- 119 m²
- Volume, LiDAR
- 910 m³
- Tallest building
- 9.6 m
Buildings to scale, each on its own parcel
Parcels
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 63076A1341/00E000 | 321 m² | 1 · 119 m² | 9.6 m · 3 |
Contact
E-mail
michael.lefin1975@gmail.com establishment in Theux
Phone
+32 474 79 14 42 establishment in Theux
Invoicing and payment
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0765.974.158