MILSON
ActiveSummary
MILSON has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €575,392 and a net result of -€17,417. Equity is growing by ~12.3% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability28▼-6
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €35,000 at 30 days acceptable
Liquidity ample (current ratio 2.08 against 3.47 in 2024; short-term debt: 3.7% and cash: 7.5% of total assets), and 3.7% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
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
96.3%
Return on assets
-2.9%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
181920232425
2018 to 2025 · latest year -€17,417
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 07-06-2026, 54 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
54 d early
2024
50 d early
2023
51 d early
2020
30 d early
2019
34 d early
2018
33 d early
2017
50 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 43 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
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
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€575,392▼ 2.9%
2024 · €592,809
Total assets
€597,629▼ 20.2%
2024 · €748,756
Net result
-€17,417▼ 12.9%
2024 · -€15,433
Working capital
€23,994▼ 80.6%
2024 · €123,507
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
Line20192020202320242025
Operating result€6,251▼ 41.5%€274,591▲ 4,293%-€17,712--€17,273▲ 2.5%-€19,159▼ 10.9%
Net result-€3,377€197,654-€21,287--€15,433▲ 27.5%-€17,417▼ 12.9%
Equity€251,855▼ 1.3%€449,509▲ 78.5%€608,242-€592,809▼ 2.5%€575,392▼ 2.9%
Total assets€619,212▲ 11.8%€758,825▲ 22.5%€791,042-€748,756▼ 5.3%€597,629▼ 20.2%
Debt€367,357▲ 23.0%€309,316▼ 15.8%€182,800-€155,947▼ 14.7%€22,237▼ 85.7%
Working capital-€168,826-€29,976▲ 82.2%€131,534-€123,507▼ 6.1%€23,994▼ 80.6%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €19,159 in 2025 against €17,273 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €597,629
Fixed assets
€551,398 ▼ 4.1%
Current assets
€46,231 ▼ 73.4%
Equity and liabilities €597,629
Equity
€575,392 ▼ 2.9%
Debt
€22,237 ▼ 85.7%
Debt's share of the balance-sheet total falls from 20.8% to 3.7%. Equity and debt are lower.
Key figures and ratios
EBITDA
€4,595▼
2024 · €7,200
Cash flow
€6,337▼
2024 · €9,040
Current ratio
2.08▼
2024 · 3.47
Debt to equity
0.04▼
2024 · 0.26
ROE
-3.0%▼
2024 · -2.6%
ROA
-2.9%▼
2024 · -2.1%
Interest coverage
1.52▼
2024 · 2.18
Debt ≤ 1 year
€22,237▼
2024 · €50,098
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €26,147 | €20,664 | €25,229 | €24,473 | €23,754 | ▼ 2.9% |
| Other operating charges640/8 | - | - | €2,697 | €2,780 | €2,867 | ▲ 3.1% |
| Gross operating margin9900 | €36,736 | €297,334 | €10,213 | €9,980 | €7,462 | ▼ 25.2% |
| Operating profit (loss)9901 | €6,251 | €274,591 | -€17,712 | -€17,273 | -€19,159 | ▼ 10.9% |
| Financial income75/76B | - | - | €0 | €5,147 | €4,767 | ▼ 7.4% |
| Recurring financial income75 | - | - | €0 | €5,147 | €4,767 | ▼ 7.4% |
| Non-recurring financial income76B | - | - | €0 | €5,147 | €4,767 | ▼ 7.4% |
| Financial charges65/66B | - | - | €3,575 | €3,307 | €3,025 | ▼ 8.5% |
| Recurring financial charges65 | €8,418 | €5,099 | €3,575 | €3,307 | €3,025 | ▼ 8.5% |
| Profit (loss) for the period before taxes9903 | -€2,167 | €269,492 | -€21,287 | -€15,433 | -€17,417 | ▼ 12.9% |
| Income taxes67/77 | €1,210 | €71,838 | €0 | - | - | - |
| Profit (loss) for the period9904 | -€3,377 | €197,654 | -€21,287 | -€15,433 | -€17,417 | ▼ 12.9% |
| Profit (loss) for the period to be appropriated9905 | -€3,377 | €197,654 | -€21,287 | -€15,433 | -€17,417 | ▼ 12.9% |
| Line | 2019 | 2020 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €619,212 | €758,825 | €791,042 | €748,756 | €597,629 | ▼ 20.2% |
| Fixed assets21/28 | €610,499 | €651,681 | €599,625 | €575,152 | €551,398 | ▼ 4.1% |
| Tangible fixed assets22/27 | €610,499 | €651,681 | €599,625 | €575,152 | €551,398 | ▼ 4.1% |
| Land and buildings22 | - | - | €597,611 | €573,608 | €550,315 | ▼ 4.1% |
| Plant, machinery and equipment23 | - | - | €1,527 | €1,305 | €1,083 | ▼ 17.0% |
| Furniture and vehicles24 | - | - | €487 | €239 | - | - |
| Current assets29/58 | €8,713 | €107,144 | €191,417 | €173,604 | €46,231 | ▼ 73.4% |
| Amounts receivable within one year40/41 | - | - | - | €1,544 | €1,430 | ▼ 7.4% |
| Other amounts receivable41 | - | - | - | €1,544 | €1,430 | ▼ 7.4% |
| Cash at bank and in hand54/58 | €7,163 | €106,446 | €191,417 | €172,060 | €44,801 | ▼ 74.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €619,212 | €758,825 | €791,042 | €748,756 | €597,629 | ▼ 20.2% |
| Equity10/15 | €251,855 | €449,509 | €608,242 | €592,809 | €575,392 | ▼ 2.9% |
| Contributions10/11 | €61,500 | - | €61,500 | €61,500 | €61,500 | = |
| Capital10 | - | - | €61,500 | €61,500 | €61,500 | = |
| Issued capital100 | - | - | €61,500 | €61,500 | €61,500 | = |
| Reserves13 | €201,265 | €201,265 | €201,265 | €201,265 | €201,265 | = |
| Non-distributable reserves130/1 | - | - | €17,850 | €17,850 | €17,850 | = |
| Legal reserve130 | - | - | €6,150 | €6,150 | €6,150 | = |
| Other1319 | - | - | €11,700 | €11,700 | €11,700 | = |
| Distributable reserves133 | - | - | €183,415 | €183,415 | €183,415 | = |
| Profit (loss) carried forward14 | -€10,910 | €186,744 | €345,477 | €330,044 | €312,627 | ▼ 5.3% |
| Amounts payable17/49 | €367,357 | €309,316 | €182,800 | €155,947 | €22,237 | ▼ 85.7% |
| Amounts payable after more than one year17 | €189,818 | €172,196 | €122,917 | €105,849 | - | - |
| Financial debts170/4 | - | - | €122,917 | €105,849 | - | - |
| Amounts payable within one year42/48 | €177,539 | €137,120 | €59,883 | €50,098 | €22,237 | ▼ 55.6% |
| Current portion of amounts payable after more than one year42 | - | - | €16,690 | €17,067 | - | - |
| Trade debts44 | - | - | €104 | - | €1,221 | - |
| Suppliers440/4 | - | - | €104 | - | €1,221 | - |
| Other amounts payable47/48 | - | - | €43,089 | €33,030 | €21,016 | ▼ 36.4% |
| Line | 2019 | 2020 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€3,377 | €197,654 | -€21,287 | -€15,433 | -€17,417 | ▼ 12.9% |
| + Depreciation and write-downs630 | €26,147 | €20,664 | €25,229 | €24,473 | €23,754 | ▼ 2.9% |
| Operating cash flow (approximation) | €22,770 | €218,318 | €3,942 | €9,040 | €6,337 | ▼ 29.9% |
| Investment in fixed assets (approximation) | - | -€61,846 | - | €0 | -€0 | - |
| Change in cash | - | €99,283 | - | -€19,357 | -€127,259 | ▼ 557% |
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
07-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
11-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
10-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet -€21,287
Net result drops to -€21,287, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity quadruplescurrent ratio 3.20
Current ratio from 0.78 to 3.20; short-term debt falls from €137,120 to €59,883.
31-12
Financial
Equity above €500,000Eq €608,242 ▲35.3%
Equity rises from €449,509 to €608,242.
2021
01-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Back to profitnet €197,654
Net result €197,654 after one loss-making year.
27-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
28-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
11-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
25-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
25-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
2015
29-06
NBB filing
Annual accounts filed
fiscal year 2014 · 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, Heusden-Zolder · 1 establishment unit since 1988
Ground area
3,996 m²
Building footprint
316 m²
Volume, LiDAR
248 m³
Parcel 71502B1347/00G000, Flanders · tallest building 7.9 m. Linked by address, not a title deed.
1 establishment unit
MILSON
since 19882.036.309.815
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71502B1347/00G000 | Flanders | 3,996 m² | 1 · 316 m² | 7.9 m |
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.
Identification & contact
Identification
Legal formPublic limited company
Founded11-03-1988
Fiscal year end31-12
Scores and ratios are computed by Checked and are not a credit decision.