MILARTH
ActiveMILARTH has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €6k and a net result of €-14k. Equity is growing by ~25% per year across the filed fiscal years. Its solvency ranks better than 15% of 37972 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2024
20
/ 100
Critical▼ -58 vs 2023
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability0▼-88
Solvency16▼-26
Growth32▼-46
Stability100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.88 against 1.15 in 2023), and 89.4% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises 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
Sector 70
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 2024Solvency, return and age of the figures
Solvency
10.6%
Return on assets
-26.1%
Age of the figures
20 mo
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 · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 15% of 37972 sector peers (2024).
NBB · sector comparisonPosition among 37972 sector peers
Solvency
better than 15%
← weakest
strongest →
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-10-2025, 91 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 7 filingsDeviation from the deadline
2025
not confirmed
2024
91 d late
2023
58 d late
2022
67 d late
2021
78 d late
2020
27 d late
2019
41 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, micro schema
Equity
€6k▼ 71.2%
2023 · €20k
2018: €13k
2019: €-8k
2020: €5k
2021: €11k
2022: €16k
2023: €20k
2018 → 2024
Total assets
€54k▼ 30.5%
2023 · €77k
2018: €45k
2019: €20k
2020: €23k
2021: €35k
2022: €83k
2023: €77k
2018 → 2024
Net result
€-14k
2023 · €3k
2018: €3k
2019: €-21k
2020: €13k
2021: €7k
2022: €5k
2023: €3k
2018 → 2024
Working capital
€-4k
2023 · €5k
2018: €6k
2019: €-13k
2020: €4k
2021: €-19
2022: €-5k
2023: €5k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€5k-€11k▲ 136%€16k▲ 43.3%€20k▲ 21.3%€6k▼ 71.2%
Operating result€17k-€12k▼ 31.8%€8k▼ 36.4%€10k▲ 38.7%€-12k
Net result€13k-€7k▼ 50.7%€5k▼ 24.9%€3k▼ 29.5%€-14k
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 2024: a loss of €12k after €10k in 2023, the lowest year so far.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €54k
Fixed assets
€23k▼ 37.9%
Current assets
€31k▼ 23.7%
Equity and liabilities €54k
Equity
€6k▼ 71.2%
Debt
€48k▼ 16.6%
The debt ratio rises from 74.5% to 89.4%: equity shrinks faster than debt is paid down.
Key figures and ratios
EBITDA
€6k▼
2023 · €28k
Cash flow
€4k▼
2023 · €21k
Solvency
10.6%▼
2023 · 25.5%
Current ratio
0.88▼
2023 · 1.15
Quick ratio
0.88▼
2023 · 1.15
Debt / equity
8.46▲
2023 · 2.92
ROE
-246.8%▼
2023 · 17.6%
ROA
-26.1%▼
2023 · 4.5%
Interest coverage
2.62▼
2023 · 10.66
Debt
€48k▼
2023 · €58k
Debt ≤ 1 year
€35k▼
2023 · €35k
Debt > 1 year
€13k▼
2023 · €22k
Income taxes
€143▼
2023 · €4k
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 · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€77k€54k▼
Fixed assets21/28€37k€23k▼
Tangible fixed assets22/27€37k€23k▼
Furniture and vehicles24€33k€20k▼
Other tangible fixed assets26€4k€3k▼
Current assets29/58€40k€31k▼
Amounts receivable within one year40/41€17k€15k▼
Trade receivables40€13k€14k▲
Other amounts receivable41€4k€885▼
Cash at bank and in hand54/58€0€3k▲
Deferred charges and accrued income490/1€23k€13k▼
Equity and liabilities
Total equity and liabilities10/49€77k€54k▼
Equity10/15€20k€6k▼
Contributions10/11€10k€10k=
Reserves13€10k€0▼
Non-distributable reserves130/1€0-
Reserves not available under the articles1311€0-
Distributable reserves133€10k€0▼
Profit (loss) carried forward14-€-4k
Amounts payable17/49€58k€48k▼
Amounts payable after more than one year17€22k€13k▼
Financial debts170/4€22k€13k▼
Amounts payable within one year42/48€35k€35k▼
Current portion of amounts payable after more than one year42€10k€12k▲
Financial debts43€6k€0▼
Credit institutions430/8€6k€0▼
Trade debts44€5k€7k▲
Suppliers440/4€5k€7k▲
Taxes, remuneration and social security45€15k€16k▲
Taxes450/3€15k€12k▼
Remuneration and social security454/9€2€4k▲
Other amounts payable47/48€0-
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€18k€18k▲
Other operating charges640/8€3k€2k▼
Gross operating margin9900€31k€9k▼
Operating profit (loss)9901€10k€-12k▼
Financial income75/76B€33€167▲
Recurring financial income75€33€167▲
Non-recurring financial income76B€0-
Financial charges65/66B€3k€2k▼
Recurring financial charges65€3k€2k▼
Profit (loss) for the period before taxes9903€8k€-14k▼
Income taxes67/77€4k€143▼
Profit (loss) for the period9904€3k€-14k▼
Profit (loss) for the period to be appropriated9905€3k€-14k▼
Appropriation of the result
Profit (loss) to be appropriated9906€3k€-14k▼
Transfer from equity791/2-€10k
Transfer to equity691/2€3k€0▼
To other reserves6921€3k€0▼
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
30-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 91 days late
2024
27-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 58 days late
2023
06-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 67 days late
2022
17-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 78 days late
2021
27-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 27 days late
2020
31-12
Financial
Back to profitnet €13k
Net result €13k after one loss-making year.
31-12
Financial
Liquidity triplescurrent ratio 1.22
Current ratio from 0.39 to 1.22; short-term debt falls from €22k to €18k.
10-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 41 days late
2019
31-12
Financial
Weakest financial yearnet €-21k ▼878%
Net result drops to €-21k, the lowest in the series; recovery starts the following year.
08-07
NBB filing
Annual accounts filed
fiscal year 2018 · 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, Kruisem · 1 establishment unit since 2018
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.
Pulmstraat 169750 KruisemGround area
3,485 m²
Building footprint
303 m²
Volume, LiDAR
1,226 m³
Parcel 45057A0194/00C000, Flanders · tallest building 11.2 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
MILARTH
since 20182.272.424.047
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 45057A0194/00C000 | Flanders | 3,485 m² | 1 · 303 m² | 11.2 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.
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Of 5,668 companies in sector 70100 we hold annual accounts for 3,479. 858 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded09-01-2018
Fiscal year end31-12
Activities, NACEBEL
70100Activities of head offices
Sources
Crossroads Bank for EnterprisesNational Bank · 7 filingsAddress and cadastre registers
Data from official sources, last processed on 13-09-2026. Scores and ratios are computed by Checked and are not a credit decision.