MILPO
ActiveSummary
MILPO has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €114k and a net result of €18k. Equity is growing by ~31.1% per year across the filed fiscal years. Its solvency ranks better than 88% of 13417 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.4% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability84=
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
1.4%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €9k at 30 days acceptable
Liquidity ample (current ratio 4.23 against 4.37 in 2024; short-term debt: 22.4% and cash: 67.3% of total assets), and 23.9% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five 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 56
Relative position
BE, all sectors
reference
Food and beverage service activities (NACE 56)
about 206% 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
76.1%
Return on assets
12.2%
Age of the figures
9 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
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 25-08-2026, 25 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
25 d late
2024
20 d early
2023
27 d late
2022
31 d late
2021
22 d late
2020
5 d early
2019
3 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 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€114k▲ 19.1%
2024 · €96k
Total assets
€150k▲ 17.1%
2024 · €128k
Net result
€18k▲ 14.4%
2024 · €16k
Working capital
€108k▲ 23.1%
2024 · €88k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€17k▼ 32.6%€45k▲ 170%€28k▼ 39.4%€28k▲ 2.6%€29k▲ 1.4%
Net result€8k▼ 36.9%€26k▲ 218%€15k▼ 41.7%€16k▲ 3.6%€18k▲ 14.4%
Equity€38k▲ 28.1%€64k▲ 69.6%€80k▲ 23.9%€96k▲ 20.0%€114k▲ 19.1%
Total assets€185k▼ 17.8%€206k▲ 11.4%€212k▲ 3.0%€128k▼ 39.8%€150k▲ 17.1%
Debt€147k▼ 24.7%€142k▼ 3.6%€133k▼ 6.5%€32k▼ 75.7%€36k▲ 11.1%
Working capital€124k▼ 12.6%€124k▲ 0.7%€111k▼ 10.9%€88k▼ 20.7%€108k▲ 23.1%
Staff (FTE)0.31.7▲ 467%1.8▲ 5.9%2.2▲ 22.2%2.4▲ 9.1%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 1% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €150k
Fixed assets
€8k ▼ 42.1%
Current assets
€142k ▲ 24.3%
Equity and liabilities €150k
Equity
€114k ▲ 19.1%
Debt
€36k ▲ 11.1%
Debt's share of the balance-sheet total falls from 25.2% to 23.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€36k▲
2024 · €35k
Cash flow
€26k▲
2024 · €23k
Current ratio
4.23▼
2024 · 4.37
Quick ratio
4.16▼
2024 · 4.20
Debt to equity
0.31▼
2024 · 0.34
ROE
16.0%▼
2024 · 16.7%
ROA
12.2%▼
2024 · 12.5%
Interest coverage
20.67▲
2024 · 7.33
Debt ≤ 1 year
€34k▲
2024 · €26k
Debt > 1 year
€2k▼
2024 · €6k
Income taxes
€9k▲
2024 · €8k
Staff costs
€45k▲
2024 · €40k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €11k | €44k | €43k | €40k | €45k | ▲ 13.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €109 | €726 | €4k | €7k | €7k | ▲ 6.0% |
| Other operating charges640/8 | €641 | €2k | €1k | €1k | €2k | ▲ 13.3% |
| Gross operating margin9900 | €29k | €92k | €77k | €77k | €83k | ▲ 8.2% |
| Operating profit (loss)9901 | €17k | €45k | €28k | €28k | €29k | ▲ 1.4% |
| Financial income75/76B | €1 | €44 | €197 | €182 | €1 | ▼ 99.6% |
| Recurring financial income75 | €1 | €44 | €197 | €182 | €1 | ▼ 99.6% |
| Financial charges65/66B | €6k | €6k | €5k | €5k | €2k | ▼ 63.7% |
| Recurring financial charges65 | €6k | €6k | €5k | €5k | €2k | ▼ 63.7% |
| Profit (loss) for the period before taxes9903 | €11k | €40k | €23k | €24k | €27k | ▲ 13.9% |
| Income taxes67/77 | €3k | €13k | €7k | €8k | €9k | ▲ 12.7% |
| Profit (loss) for the period9904 | €8k | €26k | €15k | €16k | €18k | ▲ 14.4% |
| Profit (loss) for the period to be appropriated9905 | €8k | €26k | €15k | €16k | €18k | ▲ 14.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €185k | €206k | €212k | €128k | €150k | ▲ 17.1% |
| Fixed assets21/28 | €3k | €5k | €19k | €14k | €8k | ▼ 42.1% |
| Tangible fixed assets22/27 | €3k | €4k | €18k | €14k | €8k | ▼ 43.3% |
| Land and buildings22 | €2k | €2k | €2k | €2k | €1k | ▼ 14.9% |
| Plant, machinery and equipment23 | - | - | - | €2k | €2k | ▼ 23.2% |
| Furniture and vehicles24 | €659 | €2k | €16k | €10k | €5k | ▼ 52.2% |
| Financial fixed assets28 | €363 | €363 | €363 | €363 | €363 | = |
| Current assets29/58 | €182k | €202k | €194k | €114k | €142k | ▲ 24.3% |
| Stocks and contracts in progress3 | €769 | €4k | €7k | €4k | €2k | ▼ 45.3% |
| Stocks30/36 | €769 | €4k | €7k | €4k | €2k | ▼ 45.3% |
| Amounts receivable within one year40/41 | €3k | €8 | €4k | €7k | €38k | ▲ 420% |
| Trade receivables40 | €3k | €1 | €814 | €2k | €962 | ▼ 52.3% |
| Other amounts receivable41 | €58 | €7 | €3k | €5k | €37k | ▲ 602% |
| Cash at bank and in hand54/58 | €177k | €197k | €182k | €102k | €101k | ▼ 0.7% |
| Deferred charges and accrued income490/1 | €1k | €580 | €822 | €834 | €889 | ▲ 6.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €185k | €206k | €212k | €128k | €150k | ▲ 17.1% |
| Equity10/15 | €38k | €64k | €80k | €96k | €114k | ▲ 19.1% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €2k | €28k | €44k | €59k | €78k | ▲ 30.7% |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | €2k | €2k | €2k | €2k | €2k | = |
| Distributable reserves133 | - | €26k | €42k | €58k | €76k | ▲ 31.7% |
| Profit (loss) carried forward14 | €17k | €17k | €18k | €18k | €18k | ▲ 0.1% |
| Amounts payable17/49 | €147k | €142k | €133k | €32k | €36k | ▲ 11.1% |
| Amounts payable after more than one year17 | €89k | €65k | €50k | €6k | €2k | ▼ 62.4% |
| Financial debts170/4 | €89k | €65k | €50k | €6k | €2k | ▼ 62.4% |
| Amounts payable within one year42/48 | €59k | €77k | €83k | €26k | €34k | ▲ 28.5% |
| Current portion of amounts payable after more than one year42 | €23k | €24k | €36k | €11k | €12k | ▲ 8.8% |
| Trade debts44 | €9k | €15k | €11k | €5k | €14k | ▲ 179% |
| Suppliers440/4 | €9k | €15k | €11k | €5k | €14k | ▲ 179% |
| Advances received on contracts in progress46 | - | - | - | €3k | €3k | ▲ 8.3% |
| Taxes, remuneration and social security45 | €9k | €21k | €16k | €3k | €5k | ▲ 48.7% |
| Taxes450/3 | €8k | €17k | €13k | €936 | €2k | ▲ 64.1% |
| Remuneration and social security454/9 | €1k | €4k | €3k | €2k | €3k | ▲ 42.4% |
| Other amounts payable47/48 | €17k | €17k | €20k | €4k | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €8k | €26k | €15k | €16k | €18k | ▲ 14.4% |
| + Depreciation and write-downs630 | €109 | €726 | €4k | €7k | €7k | ▲ 6.0% |
| Operating cash flow (approximation) | €8k | €27k | €20k | €23k | €26k | ▲ 11.9% |
| Investment in fixed assets (approximation) | - | €-2k | €-18k | €-2k | €-2k | ▲ 35.3% |
| Change in cash | - | €20k | €-15k | €-80k | €-750 | ▲ 99.1% |
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
25-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 25 days late
2025
31-12
Financial
Equity above €100kEq €114k ▲19.1%
8 profitable years in a row build equity to €114k.
11-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
27-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 27 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-12
Financial
Highest result since 2018net €26k ▲218%
Operating result €45k, net result €26k, both a record.
22-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 22 days late
2021
26-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Liquidity times 731current ratio 2.68
Current ratio from 0.00 to 2.68.
28-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Weakest financial yearnet €2k ▼79.7%
Net result drops to €2k, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
17-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
31-05
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Tournai · 1 establishment unit since 2010
Ground area
465 m²
Building footprint
203 m²
Volume, LiDAR
2,856 m³
2 parcels, Wallonia · tallest building 16.3 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
MILPO
since 20102.194.193.646
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 57462D0551/00M002 | Wallonia | 285 m² | 1 · 124 m² | 15.2 m · 5 fl. |
| 57081G0661/00A000indicative ProtectedMonument |
Wallonia | 179 m² | 1 · 79 m² | 16.3 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
1 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
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Of 21,861 companies in sector 56112 we hold annual accounts for 9,773. 7,637 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
Founded03-11-2010
Fiscal year end31-12
Activities, NACEBEL 2025
56112Limited-service restaurants, excluding mobile food services
Scores and ratios are computed by Checked and are not a credit decision.