MILHEM
ActiveSummary
The computed 12-month bankruptcy probability of MILHEM is 2.1% (moderate). For MILHEM, one filing cycle of the annual accounts is missing. The 2024 annual accounts show equity of €31,955 and a net result of -€54,428. Equity is growing by ~22.3% per year across the filed fiscal years. Its solvency ranks better than 12% of 36378 sector peers (fiscal year 2024). The company has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
No current score
Figures too old
The available figures for FY 2024 are too old to assess current financial health.
Filing: One filing cycle is missing
Axes, FY 2024 · tick = 2023
Profitability5▼-83
Solvency32▼-26
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
2.1%
Moderate
0%0.5%1.5%4%10%≥ 25%
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← 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
6.5%
Return on assets
-11.1%
Age of the figures
27 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Annual accounts not filed
The financial year that closed on 30-06-2025 was due at the National Bank by 31-01-2026. Nothing is on record, 242 days later.
NBB · 10 filingsPosition against the passed deadline
30-06-2025 close31-01-2026 deadline30-09-2026 today
neutral · Filed after the deadline
The financial year that closed on 30-06-2024 was due by 31-01-2025 and was filed on 28-02-2025, 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 · 10 filingsDeviation from the deadline
2025
not filed
2024
28 d late
2023
28 d late
2022
on the day
2021
46 d early
2020
11 d early
2019
42 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 7 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Turnover
€113,317
EBIT margin
-13.8%
Net result
-€54,428
2023 · €46,729
Working capital
€49,796▼ 41.8%
2023 · €85,536
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Turnover€113,317
Operating result-€15,676▼ 811%€17,977€7,768▼ 56.8%€73,123▲ 841%-€39,734
Net result-€819below the sector's middle half▲ 80.0%€21,976within the sector's middle half€2,082within the sector's middle half▼ 90.5%€46,729above the sector's middle half▲ 2,144%-€54,428below the sector's middle half
EBIT margin-13.8%
Equity€15,596below the sector's middle half▼ 5.0%€37,572within the sector's middle half▲ 141%€39,654within the sector's middle half▲ 5.5%€86,384within the sector's middle half▲ 118%€31,955within the sector's middle half▼ 63.0%
Total assets€44,894below the sector's middle half▼ 12.4%€74,141within the sector's middle half▲ 65.1%€323,002above the sector's middle half▲ 336%€262,450within the sector's middle half▼ 18.7%€488,740above the sector's middle half▲ 86.2%
Debt€29,298▼ 15.9%€36,569▲ 24.8%€283,348▲ 675%€176,067▼ 37.9%€456,785▲ 159%
Working capital€3,860below the sector's middle half▲ 200%€29,733within the sector's middle half▲ 670%€210,407above the sector's middle half▲ 608%€85,536within the sector's middle half▼ 59.3%€49,796within the sector's middle half▼ 41.8%
Solvency34.7%within the sector's middle half▲ 2.7pp50.7%within the sector's middle half▲ 15.9pp12.3%below the sector's middle half▼ 38.4pp32.9%within the sector's middle half▲ 20.6pp6.5%below the sector's middle half▼ 26.4pp
Current ratio1.26within the sector's middle half▲ 0.182.14within the sector's middle half▲ 0.882.92within the sector's middle half▲ 0.791.49within the sector's middle half▼ 1.441.11within the sector's middle half▼ 0.37
Return on assets (ROA)-1.8%below the sector's middle half▲ 6.2pp29.6%above the sector's middle half▲ 31.5pp0.6%below the sector's middle half▼ 29.0pp17.8%above the sector's middle half▲ 17.2pp-11.1%below the sector's middle half▼ 28.9pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
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 €39,734 after €73,123 in 2023, the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Equity and liabilities €488,740
Equity
€31,955 ▼ 63.0%
Debt
€456,785 ▲ 159%
Debt's share of the balance-sheet total rises from 67.1% to 93.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€38,886▼
2023 · €75,427
Cash flow
-€53,580▼
2023 · €49,034
Quick ratio
0.33▼
2023 · 0.88
Debt to equity
14.29▲
2023 · 2.04
ROE
-170.3%▼
2023 · 54.1%
Interest coverage
-2.65▼
2023 · 5.59
Debt ≤ 1 year
€438,944▲
2023 · €176,067
Debt > 1 year
€17,841
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €113,317 | - | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | €1,273 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,458 | €7,990 | €2,304 | €2,304 | €848 | ▼ 63.2% |
| Other operating charges640/8 | - | - | €10,496 | €2,856 | €1,566 | ▼ 45.2% |
| Gross operating margin9900 | €6,108 | €34,055 | €21,841 | €78,283 | -€37,320 | ▼ 148% |
| Operating profit (loss)9901 | -€15,676 | €17,977 | €7,768 | €73,123 | -€39,734 | ▼ 154% |
| Financial income75/76B | - | - | €713 | - | €0 | - |
| Recurring financial income75 | €1 | €1 | €7 | - | €0 | - |
| Non-recurring financial income76B | - | - | €707 | - | - | - |
| Financial charges65/66B | - | - | €1,411 | €13,498 | €14,695 | ▲ 8.9% |
| Recurring financial charges65 | €1,103 | €1,584 | €1,411 | €13,498 | €14,695 | ▲ 8.9% |
| Profit (loss) for the period before taxes9903 | -€528 | €21,976 | €7,071 | €59,624 | -€54,428 | ▼ 191% |
| Income taxes67/77 | €291 | - | €4,988 | €12,895 | - | - |
| Profit (loss) for the period9904 | -€819 | €21,976 | €2,082 | €46,729 | -€54,428 | ▼ 216% |
| Profit (loss) for the period to be appropriated9905 | -€819 | €21,976 | €2,082 | €46,729 | -€54,428 | ▼ 216% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €44,894 | €74,141 | €323,002 | €262,450 | €488,740 | ▲ 86.2% |
| Fixed assets21/28 | €26,240 | €18,250 | €3,152 | €848 | €0 | ▼ 100% |
| Tangible fixed assets22/27 | €26,240 | €18,250 | €3,152 | €848 | €0 | ▼ 100% |
| Furniture and vehicles24 | - | - | €3,152 | €848 | €0 | ▼ 100% |
| Current assets29/58 | €18,654 | €55,891 | €319,850 | €261,603 | €488,740 | ▲ 86.8% |
| Stocks and contracts in progress3 | - | - | €263,135 | €106,342 | €346,053 | ▲ 225% |
| Stocks30/36 | - | - | €263,135 | €106,342 | €346,053 | ▲ 225% |
| Amounts receivable within one year40/41 | €12,008 | €11,551 | €18,751 | €109,856 | €96,908 | ▼ 11.8% |
| Trade receivables40 | - | - | €5,900 | €38,847 | €95,017 | ▲ 145% |
| Other amounts receivable41 | - | - | €12,851 | €71,010 | €1,891 | ▼ 97.3% |
| Cash at bank and in hand54/58 | €6,187 | €42,302 | €37,964 | €44,379 | €45,780 | ▲ 3.2% |
| Deferred charges and accrued income490/1 | - | - | - | €1,025 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €44,894 | €74,141 | €323,002 | €262,450 | €488,740 | ▲ 86.2% |
| Equity10/15 | €15,596 | €37,572 | €39,654 | €86,384 | €31,955 | ▼ 63.0% |
| Contributions10/11 | €17,900 | €17,900 | €17,900 | €17,900 | €17,900 | = |
| Outside capital11 | - | - | - | €17,900 | - | - |
| Other1109/19 | - | - | - | €17,900 | - | - |
| Reserves13 | €1,160 | €1,160 | €1,160 | €1,160 | €1,160 | = |
| Non-distributable reserves130/1 | - | - | €1,160 | €1,160 | - | - |
| Reserves not available under the articles1311 | - | - | €1,160 | €1,160 | - | - |
| Distributable reserves133 | - | - | - | - | €1,160 | - |
| Profit (loss) carried forward14 | -€3,464 | €18,512 | €20,594 | €67,324 | €12,895 | ▼ 80.8% |
| Amounts payable17/49 | €29,298 | €36,569 | €283,348 | €176,067 | €456,785 | ▲ 159% |
| Amounts payable after more than one year17 | €14,009 | €8,312 | €173,906 | - | €17,841 | - |
| Financial debts170/4 | - | - | €173,906 | - | €17,841 | - |
| Amounts payable within one year42/48 | €14,794 | €26,158 | €109,442 | €176,067 | €438,944 | ▲ 149% |
| Current portion of amounts payable after more than one year42 | - | - | €7,674 | €4,230 | €5,300 | ▲ 25.3% |
| Financial debts43 | - | - | - | - | €224,000 | - |
| Other loans439 | - | - | - | - | €224,000 | - |
| Trade debts44 | €1,251 | €16,295 | €20,685 | €73,624 | €82,685 | ▲ 12.3% |
| Suppliers440/4 | - | - | €20,685 | €73,624 | €82,685 | ▲ 12.3% |
| Advances received on contracts in progress46 | - | - | - | €1,000 | - | - |
| Taxes, remuneration and social security45 | - | - | €513 | €12,895 | €6,079 | ▼ 52.9% |
| Taxes450/3 | - | - | €513 | €12,895 | €6,079 | ▼ 52.9% |
| Other amounts payable47/48 | - | - | €80,570 | €84,318 | €120,880 | ▲ 43.4% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€819 | €21,976 | €2,082 | €46,729 | -€54,428 | ▼ 216% |
| + Depreciation and write-downs630 | €8,458 | €7,990 | €2,304 | €2,304 | €848 | ▼ 63.2% |
| Operating cash flow (approximation) | €7,639 | €29,966 | €4,387 | €49,034 | -€53,580 | ▼ 209% |
| Investment in fixed assets (approximation) | - | €0 | €12,793 | €0 | €0 | - |
| Change in cash | - | €36,114 | -€4,338 | €6,416 | €1,401 | ▼ 78.2% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2025
28-02
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 28 days late
2024
30-06
Financial
Weakest financial yearnet -€54,428
Net result drops to -€54,428, the lowest in the series.
28-02
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 28 days late
2023
30-06
Financial
Highest result since 2019net €46,729 ▲2,144%
Operating result €73,123, net result €46,729, both a record.
31-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2021
16-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
30-06
Financial
Back to profitnet €21,976
Net result €21,976 after 2 loss-making years.
20-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2019
20-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
24-12
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
16-01
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
23-01
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2015
22-12
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 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, Leuven · 2 establishment units since 2014
Ground area
1,355 m²
Building footprint
157 m²
Volume, LiDAR
1,020 m³
2 parcels, Brussels, Flanders · tallest building 15.1 m, ±5 floors. Linked by address, not a title deed.
2 establishment units
MILHEM
since 20142.230.451.454
NASR
since 20192.293.785.526
2 parcels
Flanders
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24126B0229/00M002 | Flanders | 1,278 m² | 1 · 80 m² | - |
| 21012A0129/00N003 | Brussels | 77 m² | 1 · 77 m² | 15.1 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 15,524 companies in sector 43990 we hold annual accounts for 7,429. 5,738 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded25-04-2014
Fiscal year end30-06
Activities, NACEBEL 2025
43990Other specialised construction activities
Contact
Phone
0489/24.02.40
E-invoicing
Reachable via Peppol
Peppol ID
0208:0550925257
Also
9925:BE0550925257
Registered
09-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.