MILANMA
ActiveThe computed 12-month bankruptcy probability of MILANMA is 2.1% (moderate). The 2025 annual accounts show equity of €17k and a net result of €-4k. Equity is growing by ~37.8% per year across the filed fiscal years. Its solvency ranks better than 20% of 10250 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-100
Solvency38▼-10
Growth52▼-26
Stability94
Bankruptcy probability, 12 months
2.1%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €1k at 30 days acceptable
Liquidity ample (current ratio 1.9 against 1.88 in 2024), but 89.3% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
+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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Sector 47
higher
← 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
10.7%
Return on assets
-2.3%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 20% of 10250 sector peers (2025).
NBB · sector comparisonPosition among 10250 sector peers
Solvency
better than 20%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 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 · 5 filingsDeviation from the deadline
2025
28 d late
2024
28 d late
2023
29 d late
2022
18 d early
2021
48 d early
← before the deadline
after the deadline →
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
16-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€17k▼ 17.4%
2024 · €20k
2021: €5k
2022: €10k
2023: €6k
2024: €20k
2021 → 2025
Total assets
€157k▲ 66.2%
2024 · €94k
2021: €75k
2022: €83k
2023: €86k
2024: €94k
2021 → 2025
Net result
€-4k
2024 · €14k
2021: €4k
2022: €5k
2023: €-4k
2024: €14k
2021 → 2025
Working capital
€53k▲ 31.8%
2024 · €41k
2021: €24k
2022: €30k
2023: €17k
2024: €41k
2021 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€5k-€10k▲ 106%€6k▼ 40.2%€20k▲ 229%€17k▼ 17.4%
Operating result€8k-€11k▲ 26.3%€-1k€16k€4k▼ 76.1%
Net result€4k-€5k▲ 32.3%€-4k€14k€-4k
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 76% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €156k
Fixed assets
€43k▲ 528%
Current assets
€113k▲ 30.3%
Equity and liabilities €157k
Equity
€17k▼ 17.4%
Debt
€140k▲ 89.1%
The debt ratio rises from 78.5% to 89.3%: debt grows while equity shrinks.
Key figures and ratios
EBITDA
€16k▼
2024 · €29k
Cash flow
€9k▼
2024 · €26k
Solvency
10.7%▼
2024 · 21.5%
Current ratio
1.90▲
2024 · 1.88
Quick ratio
1.39▲
2024 · 1.11
Debt / equity
8.38▲
2024 · 3.66
ROE
-21.1%▼
2024 · 69.6%
ROA
-2.3%▼
2024 · 14.9%
Interest coverage
11.72▼
2024 · 12.24
Debt
€140k▲
2024 · €74k
Debt ≤ 1 year
€60k▲
2024 · €46k
Debt > 1 year
€80k▲
2024 · €28k
Income taxes
€6k
Staff costs
€95k▲
2024 · €75k
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€94k€157k▲
Formation expenses20€749€749=
Fixed assets21/28€7k€43k▲
Tangible fixed assets22/27€7k€43k▲
Furniture and vehicles24€7k€43k▲
Current assets29/58€87k€113k▲
Stocks and contracts in progress3€35k€30k▼
Stocks30/36€35k€30k▼
Amounts receivable within one year40/41€830€65k▲
Trade receivables40€830€64k▲
Other amounts receivable41-€248
Cash at bank and in hand54/58€50k€14k▼
Deferred charges and accrued income490/1€592€4k▲
Equity and liabilities
Total equity and liabilities10/49€94k€157k▲
Equity10/15€20k€17k▼
Contributions10/11€1k€1k=
Outside capital11€1k€1k=
Other1109/19€1k€1k=
Profit (loss) carried forward14€19k€16k▼
Amounts payable17/49€74k€140k▲
Amounts payable after more than one year17€28k€80k▲
Financial debts170/4€28k€80k▲
Amounts payable within one year42/48€46k€60k▲
Current portion of amounts payable after more than one year42€3k€12k▲
Trade debts44€21k€39k▲
Suppliers440/4€21k€39k▲
Taxes, remuneration and social security45€15k€9k▼
Taxes450/3€7k€9k▲
Remuneration and social security454/9€8k€372▼
Other amounts payable47/48€7k€49▼
Income statement
Code20242025
Remuneration, social security and pensions62€75k€95k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€12k€12k▼
Other operating charges640/8€921€8k▲
Non-recurring operating charges66A-€684
Gross operating margin9900€104k€120k▲
Operating profit (loss)9901€16k€4k▼
Financial charges65/66B€2k€1k▼
Recurring financial charges65€2k€1k▼
Profit (loss) for the period before taxes9903€14k€3k▼
Income taxes67/77-€6k
Profit (loss) for the period9904€14k€-4k▼
Profit (loss) for the period to be appropriated9905€14k€-4k▼
Appropriation of the result
Profit (loss) to be appropriated9906€19k€16k▼
Profit (loss) brought forward from the previous period14P€5k€19k▲
Transfer to equity691/2-€0
To contributions691-€0
The notes to these accounts (5 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
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 28 days late
2025
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 28 days late
2024
31-12
Financial
Back to profitnet €14k
Net result €14k after one loss-making year.
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
31-12
Financial
Weakest financial yearnet €-4k ▼178%
Net result drops to €-4k, the lowest in the series; recovery starts the following year.
13-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
13-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 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, Ninove · 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.
Edingsesteenweg 1189402 NinoveGround area
4,776 m²
Building footprint
422 m²
Volume, LiDAR
1,570 m³
2 parcels, Flanders · tallest building 5.6 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
MILANMA
since 20212.317.752.246
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44079A0011/00B003 | Flanders | 3,429 m² | 1 · 219 m² | 5.4 m · 1 fl. |
| 41038A0537/00K000 | Flanders | 1,348 m² | 1 · 203 m² | 5.6 m · 1 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels 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 siteNazareth-De Pinte2.317.752.246
Similar companies · same sector, comparable size
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BE 0873.566.261
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EVIN YILMAZ
BE 0475.279.214
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J.K.B. INTERNATIONAL
BE 0894.003.765
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ZAYA
BE 0775.872.415
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CHANCE
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Liedekerke · Eq €17k
Of 10,529 companies in sector 47110 we hold annual accounts for 5,858. 3,996 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded28-05-2021
Fiscal year end31-12
Activities, NACEBEL
47110Non-specialised retail sale with food, beverages or tobacco predominating
47112Retail trade
47300Retail sale of automotive fuel
Sources
Crossroads Bank for EnterprisesNational Bank · 5 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.