MIPA
ActiveThe file of MIPA contains 1 historical bankruptcy publication, as published in the Belgian State Gazette. The computed 12-month bankruptcy probability is 0.5% (low). The 2025 annual accounts show equity of €33k and a net result of €-15k. Equity is shrinking by ~14.8% per year across the filed fiscal years. Its solvency ranks better than 68% of 11209 sector peers (fiscal year 2025).
Checked score
Score 2025
53
/ 100
Fair
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0=
Solvency89▼-7
Growth32=
Track record85
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1.5k at 30 days only on tighter terms
Liquidity tight (current ratio 1.4 against 1.59 in 2024; short-term debt: 35.8% and cash: 0.3% of total assets), and 35.8% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Sector 46
higher
← 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 2025Solvency, return and age of the figures
Solvency
64.2%
Return on assets
-29.9%
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
1819202122232425
2018 to 2025 · latest year €-15k
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 09-07-2026, 22 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
22 d early
2024
22 d early
2023
29 d early
2022
31 d early
2021
9 d late
2020
44 d early
2019
18 d late
← before the deadline
after the deadline →
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
17-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€33k▼ 31.8%
2024 · €48k
2018: €106k
2019: €106k
2020: €100k
2021: €83k
2022: €73k
2023: €61k
2024: €48k
2018 → 2025
Total assets
€51k▼ 24.8%
2024 · €68k
2018: €154k
2019: €137k
2020: €124k
2021: €100k
2022: €83k
2023: €81k
2024: €68k
2018 → 2025
Net result
€-15k▼ 12.1%
2024 · €-14k
2018: €-3k
2019: €645
2020: €-6k
2021: €-17k
2022: €-11k
2023: €-11k
2024: €-14k
2018 → 2025
Working capital
€7k▼ 37.1%
2024 · €12k
2018: €106k
2019: €90k
2020: €83k
2021: €71k
2022: €66k
2023: €14k
2024: €12k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€83k-€73k▼ 12.6%€61k▼ 15.6%€48k▼ 22.1%€33k▼ 31.8%
Operating result€-22k-€-14k▲ 35.1%€-12k▲ 15.9%€-13k▼ 9.5%€-15k▼ 13.5%
Net result€-17k-€-11k▲ 38.3%€-11k▼ 7.7%€-14k▼ 19.8%€-15k▼ 12.1%
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 €15k in 2025 against €13k in 2024; the loss grows.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €51k
Fixed assets
€25k▼ 30.1%
Current assets
€26k▼ 18.8%
Equity and liabilities €51k
Equity
€33k▼ 31.8%
Debt
€18k▼ 7.9%
The debt ratio rises from 29.2% to 35.8%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-4k▼
2024 · €-2k
Cash flow
€-4k▼
2024 · €-2k
Solvency
64.2%▼
2024 · 70.8%
Current ratio
1.40▼
2024 · 1.59
Quick ratio
0.21▼
2024 · 0.39
Debt / equity
0.56▲
2024 · 0.41
ROE
-46.6%▼
2024 · -28.3%
ROA
-29.9%▼
2024 · -20.1%
Interest coverage
-49.64▼
2024 · -7.13
Debt
€18k▼
2024 · €20k
Debt ≤ 1 year
€18k▼
2024 · €20k
Income taxes
€155▼
2024 · €164
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 · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€68k€51k▼
Fixed assets21/28€36k€25k▼
Tangible fixed assets22/27€36k€25k▼
Furniture and vehicles24€36k€25k▼
Current assets29/58€31k€26k▼
Stocks and contracts in progress3€24k€22k▼
Stocks30/36€24k€22k▼
Amounts receivable within one year40/41€6k€4k▼
Trade receivables40€6k€4k▼
Cash at bank and in hand54/58€2k€175▼
Deferred charges and accrued income490/1€0-
Equity and liabilities
Total equity and liabilities10/49€68k€51k▼
Equity10/15€48k€33k▼
Contributions10/11€19k€19k=
Reserves13€29k€14k▼
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€27k€12k▼
Amounts payable17/49€20k€18k▼
Amounts payable within one year42/48€20k€18k▼
Trade debts44€6k€4k▼
Suppliers440/4€6k€4k▼
Taxes, remuneration and social security45€2k€1k▼
Taxes450/3€2k€1k▼
Other amounts payable47/48€11k€13k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€12k€11k▼
Other operating charges640/8€603€727▲
Gross operating margin9900€-929€-3k▼
Operating profit (loss)9901€-13k€-15k▼
Financial income75/76B€2€0▼
Recurring financial income75€2€0▼
Financial charges65/66B€215€83▼
Recurring financial charges65€215€83▼
Profit (loss) for the period before taxes9903€-13k€-15k▼
Income taxes67/77€164€155▼
Profit (loss) for the period9904€-14k€-15k▼
Profit (loss) for the period to be appropriated9905€-14k€-15k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-14k€-15k▼
Transfer from equity791/2€14k€15k▲
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
09-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
09-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
02-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
09-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 9 days late
16-03
Bankruptcy
Bankruptcy reversal
Ondernemingsrechtbank Antwerpen, afdeling Hasselt · MIPA BV ’T ZANT 16, 3520 ZONHOVEN · event 10-03-2022
2021
31-12
Financial
Weakest financial yearnet €-17k
Net result drops to €-17k, the lowest in the series; recovery starts the following year.
17-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
18-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 18 days late
2019
31-12
Financial
Back to profitnet €645
Net result €645 after one loss-making year.
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 29 days late
2018
21-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 52 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 31 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Wellen · 1 establishment unit since 1997
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.
Vloeiherkstraat 2/23830 WellenGround area
1,818 m²
Building footprint
479 m²
Volume, LiDAR
3,560 m³
Parcel 73098F1217/00S000, Flanders · tallest building 12.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MIPA BVBA
since 19972.057.104.338
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 73098F1217/00S000 | Flanders | 1,818 m² | 1 · 479 m² | 12.7 m · 2 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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D.E. INVEST I
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Of 1,246 companies in sector 46643 we hold annual accounts for 954. 389 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded06-04-1992
Fiscal year end31-12
Activities, NACEBEL
46643Wholesale of electrical equipment, including installation materials
Sources
Crossroads Bank for EnterprisesNational Bank · 34 filingsAddress and cadastre registers
Data from official sources, last processed on 17-09-2026. Scores and ratios are computed by Checked and are not a credit decision.