MILIV
ActiveThe file of MILIV contains 2 historical bankruptcy publications, as published in the Belgian State Gazette.
Summary
The computed 12-month bankruptcy probability is 1.7% (moderate). The 2025 annual accounts show equity of €112k and a net result of €322k. Equity is growing by ~22.9% per year across the filed fiscal years. Its solvency ranks better than 13% of 27965 sector peers (fiscal year 2025).
Checked score
Score 2025
Axes · tick = 2024
Profitability95=
Solvency33▲+1
Growth85=
Track record85
Bankruptcy probability, 12 months
1.7%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €5k at 30 days only on tighter terms
Liquidity tight (current ratio 1.01 against 1.0 in 2024; short-term debt: 86.3% and cash: 3.1% of total assets), and 91.6% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
8.4%
Return on assets
24.2%
Age of the figures
12 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 13% of 27965 sector peers (2025).
NBB · sector comparisonPosition among 27965 sector peers
Solvency
better than 13%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 30-04-2026, 0 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
on the day
2024
1 d early
2023
1 d early
2022
30 d early
2021
44 d early
2020
32 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
€3.14M▼ 13.3%
2024 · €3.62M
2020: €1.27Mlowest in 6 years
2021: €1.46M▲ +15.2% vs 2020
2022: €2.04M▲ +39.6% vs 2021
2023: €4.42M▲ +117% vs 2022highest in 6 years
2024: €3.62M▼ -18.2% vs 2023
2025: €3.14M▼ -13.3% vs 2024
2020 → 2025
EBIT margin
14.5%▼ 0.1pp
2024 · 14.6%
2020: 4.7%
2021: 4.3%▼ -7.7% vs 2020lowest in 6 years
2022: 5.4%▲ +26.0% vs 2021
2023: 15.4%▲ +184% vs 2022highest in 6 years
2024: 14.6%▼ -5.3% vs 2023
2025: 14.5%▼ -0.5% vs 2024
2020 → 2025
Net result
€322k▼ 12.1%
2024 · €366k
2020: €20klowest in 6 years
2021: €35k▲ +72.8% vs 2020
2022: €79k▲ +128% vs 2021
2023: €489k▲ +516% vs 2022highest in 6 years
2024: €366k▼ -25.1% vs 2023
2025: €322k▼ -12.1% vs 2024
2020 → 2025
Working capital
€15k▲ 623%
2024 · €2k
2020: €9k
2021: €46k▲ +409% vs 2020highest in 6 years
2022: €6k▼ -87.2% vs 2021
2023: €11k▲ +79.9% vs 2022
2024: €2k▼ -80.1% vs 2023lowest in 6 years
2025: €15k▲ +623% vs 2024
2020 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€1.46M-€2.04M▲ 39.6%€4.42M▲ 117%€3.62M▼ 18.2%€3.14M▼ 13.3%
2021: €1.46Mlowest in 5 years
2022: €2.04M▲ +39.6% vs 2021
2023: €4.42M▲ +117% vs 2022highest in 5 years
2024: €3.62M▼ -18.2% vs 2023
2025: €3.14M▼ -13.3% vs 2024
Equity€55k-€39k▼ 28.4%€128k▲ 225%€105k▼ 18.4%€112k▲ 6.6%
2021: €55k
2022: €39k▼ -28.4% vs 2021lowest in 5 years
2023: €128k▲ +225% vs 2022highest in 5 years
2024: €105k▼ -18.4% vs 2023
2025: €112k▲ +6.6% vs 2024
Operating result€63k-€111k▲ 75.9%€680k▲ 514%€527k▼ 22.5%€455k▼ 13.8%
2021: €63klowest in 5 years
2022: €111k▲ +75.9% vs 2021
2023: €680k▲ +514% vs 2022highest in 5 years
2024: €527k▼ -22.5% vs 2023
2025: €455k▼ -13.8% vs 2024
Net result€35k-€79k▲ 128%€489k▲ 516%€366k▼ 25.1%€322k▼ 12.1%
2021: €35klowest in 5 years
2022: €79k▲ +128% vs 2021
2023: €489k▲ +516% vs 2022highest in 5 years
2024: €366k▼ -25.1% vs 2023
2025: €322k▼ -12.1% vs 2024
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 has fallen two years in a row; 2025 is 14% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.33M
Fixed assets
€168k ▼ 14.8%
Current assets
€1.16M ▼ 6.1%
Equity and liabilities €1.33M
Equity
€112k ▲ 6.6%
Debt
€1.22M ▼ 8.4%
Debt's share of the balance-sheet total falls from 92.7% to 91.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€528k▼
2024 · €595k
Cash flow
€395k▼
2024 · €434k
Current ratio
1.01▲
2024 · 1.00
Debt to equity
10.92▼
2024 · 12.71
ROE
288.6%▼
2024 · 350.2%
ROA
24.2%▼
2024 · 25.5%
Interest coverage
49.51▲
2024 · 22.19
Debt ≤ 1 year
€1.15M▼
2024 · €1.24M
Debt > 1 year
€71k▼
2024 · €94k
Income taxes
€123k▼
2024 · €134k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 47 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.43M€1.33M▼
Fixed assets21/28€197k€168k▼
Tangible fixed assets22/27€188k€150k▼
Plant, machinery and equipment23€4k€9k▲
Furniture and vehicles24€116k€98k▼
Leasing and similar rights25€68k€43k▼
Financial fixed assets28€9k€18k▲
Current assets29/58€1.24M€1.16M▼
Amounts receivable within one year40/41€1.19M€1.11M▼
Trade receivables40€951k€975k▲
Other amounts receivable41€238k€139k▼
Cash at bank and in hand54/58€45k€41k▼
Deferred charges and accrued income490/1€3k€8k▲
Equity and liabilities
Total equity and liabilities10/49€1.43M€1.33M▼
Equity10/15€105k€112k▲
Contributions10/11€5k€5k=
Profit (loss) carried forward14€100k€107k▲
Amounts payable17/49€1.33M€1.22M▼
Amounts payable after more than one year17€94k€71k▼
Financial debts170/4€94k€71k▼
Amounts payable within one year42/48€1.24M€1.15M▼
Current portion of amounts payable after more than one year42€43k€51k▲
Trade debts44€613k€651k▲
Suppliers440/4€613k€651k▲
Taxes, remuneration and social security45€250k€173k▼
Taxes450/3€250k€173k▼
Other amounts payable47/48€330k€272k▼
Income statement
Code20242025
Turnover70€3.62M€3.14M▼
Non-recurring operating income76A€10k€16k▲
Goods, raw materials, services and sundry goods60/61€3.03M€2.61M▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€67k€73k▲
Other operating charges640/8€5k€12k▲
Non-recurring operating charges66A€1k€1k▲
Gross operating margin9900€601k€541k▼
Operating profit (loss)9901€527k€455k▼
Financial income75/76B€1€448▲
Recurring financial income75€1€448▲
Financial charges65/66B€27k€11k▼
Recurring financial charges65€27k€11k▼
Profit (loss) for the period before taxes9903€501k€445k▼
Income taxes67/77€134k€123k▼
Profit (loss) for the period9904€366k€322k▼
Profit (loss) for the period to be appropriated9905€366k€322k▼
Appropriation of the result
Profit (loss) to be appropriated9906€490k€422k▼
Profit (loss) brought forward from the previous period14P€123k€100k▼
Profit to be distributed694/7€390k€315k▼
Return on contributions (dividend)694€390k€315k▼
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €1.46M | €2.04M | €4.42M | €3.62M | €3.14M | ▼ 13.3% |
| Non-recurring operating income76A | - | - | €107k | €10k | €16k | ▲ 71.6% |
| Goods, raw materials, services and sundry goods60/61 | - | €1.91M | €3.68M | €3.03M | €2.61M | ▼ 13.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4k | €15k | €58k | €67k | €73k | ▲ 8.4% |
| Other operating charges640/8 | - | €720 | €7k | €5k | €12k | ▲ 137% |
| Non-recurring operating charges66A | - | - | €105k | €1k | €1k | ▲ 36.9% |
| Gross operating margin9900 | €69k | €127k | €850k | €601k | €541k | ▼ 9.9% |
| Operating profit (loss)9901 | €63k | €111k | €680k | €527k | €455k | ▼ 13.8% |
| Financial income75/76B | - | €22 | €51 | €1 | €448 | ▲ 84,366% |
| Recurring financial income75 | €1 | €22 | €51 | €1 | €448 | ▲ 84,366% |
| Financial charges65/66B | - | €13k | €25k | €27k | €11k | ▼ 60.2% |
| Recurring financial charges65 | €19k | €13k | €25k | €27k | €11k | ▼ 60.2% |
| Profit (loss) for the period before taxes9903 | €44k | €97k | €656k | €501k | €445k | ▼ 11.2% |
| Income taxes67/77 | €9k | €18k | €167k | €134k | €123k | ▼ 8.6% |
| Profit (loss) for the period9904 | €35k | €79k | €489k | €366k | €322k | ▼ 12.1% |
| Profit (loss) for the period to be appropriated9905 | €35k | €79k | €489k | €366k | €322k | ▼ 12.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €236k | €615k | €1.68M | €1.43M | €1.33M | ▼ 7.3% |
| Fixed assets21/28 | €9k | €156k | €255k | €197k | €168k | ▼ 14.8% |
| Tangible fixed assets22/27 | €9k | €156k | €246k | €188k | €150k | ▼ 20.3% |
| Plant, machinery and equipment23 | - | €3k | €3k | €4k | €9k | ▲ 135% |
| Furniture and vehicles24 | - | €34k | €149k | €116k | €98k | ▼ 15.2% |
| Leasing and similar rights25 | - | €120k | €94k | €68k | €43k | ▼ 37.5% |
| Financial fixed assets28 | - | - | €9k | €9k | €18k | ▲ 103% |
| Current assets29/58 | €227k | €458k | €1.42M | €1.24M | €1.16M | ▼ 6.1% |
| Amounts receivable within one year40/41 | €194k | €394k | €1.23M | €1.19M | €1.11M | ▼ 6.4% |
| Trade receivables40 | - | €346k | €1.16M | €951k | €975k | ▲ 2.5% |
| Other amounts receivable41 | - | €48k | €71k | €238k | €139k | ▼ 41.8% |
| Cash at bank and in hand54/58 | €30k | €60k | €183k | €45k | €41k | ▼ 9.5% |
| Deferred charges and accrued income490/1 | - | €5k | €9k | €3k | €8k | ▲ 160% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €236k | €615k | €1.68M | €1.43M | €1.33M | ▼ 7.3% |
| Equity10/15 | €55k | €39k | €128k | €105k | €112k | ▲ 6.6% |
| Contributions10/11 | - | €5k | €5k | €5k | €5k | = |
| Profit (loss) carried forward14 | €55k | €34k | €123k | €100k | €107k | ▲ 7.0% |
| Amounts payable17/49 | €181k | €575k | €1.55M | €1.33M | €1.22M | ▼ 8.4% |
| Amounts payable after more than one year17 | - | €123k | €137k | €94k | €71k | ▼ 24.5% |
| Financial debts170/4 | - | €123k | €137k | €94k | €71k | ▼ 24.5% |
| Amounts payable within one year42/48 | €181k | €453k | €1.41M | €1.24M | €1.15M | ▼ 7.2% |
| Current portion of amounts payable after more than one year42 | - | €25k | €41k | €43k | €51k | ▲ 18.9% |
| Trade debts44 | €154k | €308k | €789k | €613k | €651k | ▲ 6.2% |
| Suppliers440/4 | - | €227k | €789k | €613k | €651k | ▲ 6.2% |
| Bills of exchange payable441 | - | €81k | - | - | - | - |
| Taxes, remuneration and social security45 | - | €40k | €227k | €250k | €173k | ▼ 30.5% |
| Taxes450/3 | - | €40k | €227k | €250k | €173k | ▼ 30.5% |
| Other amounts payable47/48 | - | €80k | €356k | €330k | €272k | ▼ 17.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €35k | €79k | €489k | €366k | €322k | ▼ 12.1% |
| + Depreciation and write-downs630 | €4k | €15k | €58k | €67k | €73k | ▲ 8.4% |
| Operating cash flow (approximation) | €39k | €94k | €547k | €434k | €395k | ▼ 8.9% |
| Investment in fixed assets (approximation) | - | €-162k | €-156k | €-10k | €-44k | ▼ 355% |
| Change in cash | - | €30k | €123k | €-138k | €-4k | ▲ 96.9% |
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
Next filing, fiscal year 2026, expected by
2026
30-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
24-10
Bankruptcy
Bankruptcy reversal
Ondernemingsrechtbank Gent, afdeling Gent · event 21-10-2025
02-10
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Gent · event 23-09-2025
29-04
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
29-04
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-09
Financial
Highest result since 2020net €489k ▲516%
Operating result €680k, net result €489k, both a record.
30-09
Financial
Equity above €100kEq €128k ▲225%
4 profitable years in a row build equity to €128k.
31-03
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
17-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
29-03
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Asse · 1 establishment unit since 2019
Ground area
94 m²
Building footprint
111 m²
Volume, LiDAR
629 m³
Parcel 23002G0009/00G000, Flanders · tallest building 8.0 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
MILIV
since 20192.293.940.231
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23002G0009/00G000 | Flanders | 94 m² | 1 · 111 m² | 8.0 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | CHRISTOPHE DEGRYSE KORTRIJKSESTEENWEG 361,
9000 GENT |
23-09-2025 → 21-10-2025 |
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Of 368 companies in sector 43421 we hold annual accounts for 205. 170 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
Founded07-05-2019
Fiscal year end30-09
Activities, NACEBEL 2025
43421Specialised construction activities
43222Installation of electric heating, air conditioning, cooling and ventilation
43410Roofing work
43422Screed work
53200Other postal and courier activities
81220Other building cleaning and industrial cleaning
Scores and ratios are computed by Checked and are not a credit decision.