Turnover
≈ €180,000 estimated
The micro format states no turnover.
MILANN
Lifetime
2 annual accounts with figures on one time axispeak €13,818 (2025)
€13,818▲ 37.9%
peak €10,248 (2025)
€10,248▲ 30.0%
peak €21,130 (2025)
€21,130▲ 94.2%
€99,011▲ 919%
Board3 names since 2023
1 directorVeselin Keyazimov
Documentsfilings and deeds
23-03-202651 days late
2025micro format
Gross margin from €10,022 to €13,818Result from €7,883 to €10,248Equity from €10,883 to €21,130Debts from €9,713 to €99,011
Key points
from the 2025 annual accountsDebts
€99,011 ▲ 919%
Debts rose by €89,298 in 2025.
Investments
€48,000 304.2 × depreciation
Green is investment, beige is depreciation.
Liquidity
0.73 was 2.12 in 2024
Short-term debts rose from €9,713 to €99,011.
Board
1 joined · 1 left
Board changed. Latest change 31-12-2025 · 1 in office.
Position in the sector
17.6%
Lower solvency than 80% of companies in specialised construction. Sector median 46.7% · 35,136 companies.
2025 accounts filed 51 days after the deadline
Checked score
48
Fair
Financially stronger than 49% of micro companies in specialised construction (NACE 43)
Probability in this band: 1.5% to 4.2%
Bankruptcy probability within 12 months
4.3% Elevated
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.7% across 47,693 companies (NACE 43, micro).
About 4 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 3.8%
01-2025: 3.9%▲ +0.1 percentage points vs 12-2024
02-2025: 4.3%▲ +0.4 percentage points vs 01-2025
03-2025: 4.5%▲ +0.2 percentage points vs 02-2025
04-2025: 5.0%▲ +0.5 percentage points vs 03-2025
05-2025: 5.0%● unchanged vs 04-2025
06-2025: 5.2%▲ +0.2 percentage points vs 05-2025
07-2025: 5.3%▲ +0.1 percentage points vs 06-2025
08-2025: 5.1%▼ -0.2 percentage points vs 07-2025
09-2025: 5.2%▲ +0.1 percentage points vs 08-2025
10-2025: 5.6%▲ +0.4 percentage points vs 09-2025
11-2025: 11.5%▲ +5.9 percentage points vs 10-2025highest value
12-2025: 7.0%▼ -4.5 percentage points vs 11-2025
01-2026: 6.7%▼ -0.3 percentage points vs 12-2025
02-2026: 6.8%▲ +0.1 percentage points vs 01-2026
03-2026: 7.0%▲ +0.2 percentage points vs 02-2026
04-2026: 3.3%▼ -3.7 percentage points vs 03-2026lowest value
05-2026: 3.3%● unchanged vs 04-2026lowest value
06-2026: 3.3%● unchanged vs 05-2026lowest value
07-2026: 3.4%▲ +0.1 percentage points vs 06-2026
08-2026: 3.4%● unchanged vs 07-2026
09-2026: 3.4%● unchanged vs 08-2026
10-2026: 4.3%▲ +0.9 percentage points vs 09-2026
11-2026: 4.3%● unchanged vs 10-2026
Financial strengthAverage
Score breakdown
raises risk
Founded in 2023
1 change of registered office in 24 months
Last filed accounts filed 52 days late; 2 of the last 3 accounts late
lowers risk
Liquidity: current ratio 0.73, cash €32,179
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 20% of them on solvency, 27% on liquidity, 58% on profitability and 91% on growth.
The bankruptcy probability was computed on 09-11-2026 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 30-06-2025.
Of the companies with a bankruptcy probability in the elevated class on 30-06-2025, 6.3% 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, 7,976 companies had the same profile as MILANN has now. Each dot stands for 20 companies, two years later.
94.3%
were still trading
1.8%
stopped another way
3.6%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MILANN itself: 4.3% 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 7,976 companies, not a prediction for MILANN. 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 €1,000 on 30-day terms, only on tighter conditions: elevated estimated bankruptcy probability calls for adjusted credit terms
Liquidity is insufficient, with a current ratio of 0.73 (2.12 in 2024), below 1. Short-term debt is 82.4% and cash 26.8% of total assets. 82.4% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises risk
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 20% of 35136 sector peers (2025).
NBB · sector comparisonPosition among 35136 sector peers
Solvency
better than 20%
← weakest
strongest →
raises risk · 2025 accounts filed 51 days late
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 23-03-2026, 51 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 2 filingsDeviation from the deadline
2025
51 days late
2024
258 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 2 accounts on average 155 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 financial year that closed on 30-06-2026 is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsWhere today falls in the filing period
30-06-2026 year end10-11-2026 today31-01-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:1001837378
Registered office moved from Wevelgem to Merelbeke-Melle
Transfer of 100 shares from Kutlu Mir to Veselin Keyazimov · New registered office: Hundelgemsesteenweg 175 9820 Merelbeke-Melle · Previous registered office: Hoge Akker 1, 8560 Wevelgem · General meeting of 31-12-2025 · Gazette deed
Transfer of 100 shares from Bozdag Fatih to Kutlu Mir Mahmut
Resignation: Bozdag Fatih (director) · Appointment: Kutlu Mir Mahmut (director) · Director discharge: Bozdag Fatih · General meeting of 30-09-2024 · Gazette deed
Registered office moved from Destelbergen to Wevelgem
New registered office: HOGE AKKER 1, 8560 WEVELGEM · Previous registered office: DENDERMONDESTEENWEG 563 A-9070 DESTELBERGEN · General meeting of 14-11-2023 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| MILANN Merelbeke-Melle | €120,141 | €13,818 | 17.6% | - |
| AMELIE MINNE KOELTECHNIEK Izegem | €111,476 | €14,512 | 13.2% | - |
| MIGLU Immobilier et Construct Asse | €102,220 | €13,024 | 67.5% | - |
| Connect2Climate Geraardsbergen | €108,083 | €17,145 | 1.9% | - |
| Nowa Systems Deinze | €87,183 | €12,131 | 29.7% | - |
| MRT-service Ninove | €123,469 | €19,660 | 58.4% | - |
| VINADAN Deinze | €116,247 | €9,931 | 53.8% | - |
These companies have the same main activity as MILANN: installation of electric heating, air conditioning, cooling and ventilation (NACE 43222). They are comparable in size and age: total assets between €87,200 and €123,000, founded between 2022 and 2024.
Official details
Source: KBO- Status
- Active since 31-10-2023Normal situation
- Activity
- Installation of electric heating, air conditioning, cooling and ventilationNACE 43222and 4 others
- Establishment unit
- 2.351.889.8139820 Merelbeke-Melle, since 31-10-2023
- Financial year end
- 30 June
- Peppol
- Reachable since 10-03-2026
Insights on MILANN
The computed 12-month bankruptcy probability of MILANN is 4.3% (elevated). The 2025 annual accounts show equity of €21,130 and a net result of €10,248.
Its solvency ranks better than 20% of 35,136 sector peers (NACE 43, financial year 2025). The company has been active since 2023 and the Belgian Official Gazette contains no insolvency or warning signals.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about MILANN
- What is the company number of MILANN?
- The company number of MILANN is 1001.837.378. The VAT number is the same number with BE in front: BE 1001.837.378.
- Where is MILANN based?
- The registered office is at Hundelgemsesteenweg 175, 9820 Merelbeke-Melle.Company details
- What does MILANN do?
- According to the KBO register, the main activity is installation of electric heating, air conditioning, cooling and ventilation (NACE 43222).
- What is the legal form of MILANN?
- MILANN is a private limited company (BV).
- When was MILANN founded?
- MILANN was founded on 31-10-2023.
- Is MILANN still active?
- Yes, MILANN is an active enterprise in the KBO register.
- What is the turnover of MILANN?
- The turnover in financial year 2025 is ≈ €180,000. This figure is estimated from the gross margin of €13,818 and 32 comparable companies (NACE 43222). It probably lies between €110,000 and €260,000. It is a rough estimate. In financial year 2024 turnover was €19,985.Financials
- Is MILANN profitable?
- In financial year 2025, MILANN made a profit of €10,248.
- Where can I find the annual accounts of MILANN?
- MILANN filed 2 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of MILANN due?
- MILANN must file the annual accounts for financial year 2026 by 31-01-2027.Timeline
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