MIPA Services
ActiveSummary
The computed 12-month bankruptcy probability of MIPA Services is 1.7% (moderate). The 2025 annual accounts show negative equity (-€12,881) and a net result of €600. Equity is shrinking by ~4.2% per year across the filed fiscal years. Its solvency ranks better than 23% of 13560 sector peers (fiscal year 2025). The company has been active since 1985 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability57▲+2
Solvency20=
Growth59=
Track record100
Bankruptcy probability, 12 months
1.7%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.72 against 0.79 in 2024; short-term debt: 27.3% and cash: 1.7% of total assets), and equity is negative.
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Signals
Seven 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 · 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: 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
-5.2%
Return on assets
0.2%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 23% of 13560 sector peers (2025).
NBB · sector comparisonPosition among 13560 sector peers
Solvency
better than 23%
← weakest
strongest →
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 23-07-2026, 8 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
8 d early
2024
11 d early
2023
17 d early
2022
8 d early
2021
18 d early
2020
17 d early
2019
17 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 14 days before the deadline; the sector median for financial year 2024 is 6 days after the deadline, and 52% of the sector filed 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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
In the rankings
#2 oldest company in Genappe, Accommodation and food service sector#8 company by total assets in Genappe, Accommodation and food service sector
Turnover
€228,067▲ 12.4%
2024 · €202,885
EBIT margin
3.5%▲ 0.6pp
2024 · 2.9%
Net result
€600
2024 · -€1,302
Working capital
-€18,855▼ 38.8%
2024 · -€13,582
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 56, Food and beverage service 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
Line20212022202320242025
Turnover€165,567▲ 16.9%€171,716▲ 3.7%€211,620▲ 23.2%€202,885▼ 4.1%€228,067▲ 12.4%
Operating result€22,195▲ 14.2%-€14,496€3,535€5,923▲ 67.5%€8,022▲ 35.4%
Net result€14,899within the sector's middle half▲ 28.8%-€21,359below the sector's middle half-€3,383within the sector's middle half▲ 84.2%-€1,302within the sector's middle half▲ 61.5%€600within the sector's middle half
EBIT margin13.4%▼ 0.3pp-8.4%▼ 21.8pp1.7%▲ 10.1pp2.9%▲ 1.2pp3.5%▲ 0.6pp
Equity€12,563within the sector's middle half-€8,796below the sector's middle half-€12,179below the sector's middle half▼ 38.5%-€13,481below the sector's middle half▼ 10.7%-€12,881below the sector's middle half▲ 4.5%
Total assets€320,760above the sector's middle half▼ 0.8%€281,673above the sector's middle half▼ 12.2%€275,257above the sector's middle half▼ 2.3%€265,483above the sector's middle half▼ 3.6%€249,172above the sector's middle half▼ 6.1%
Debt€308,197▼ 5.4%€290,470▼ 5.8%€287,436▼ 1.0%€278,964▼ 2.9%€262,053▼ 6.1%
Working capital€21,952▲ 219%€564▼ 97.4%-€4,845-€13,582▼ 180%-€18,855▼ 38.8%
Solvency3.9%within the sector's middle half▲ 4.6pp-3.1%within the sector's middle half▼ 7.0pp-4.4%within the sector's middle half▼ 1.3pp-5.1%within the sector's middle half▼ 0.7pp-5.2%below the sector's middle half▼ 0.1pp
Staff (FTE)1.71▼ 41.2%2.4▲ 140%2.8▲ 16.7%2.8=
above
within
below
the middle half (P25 to P75) of NACE 56, Food and beverage service 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
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 35% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €249,172
Fixed assets
€199,912 ▼ 6.6%
Current assets
€49,260 ▼ 4.0%
Key figures and ratios
EBITDA
€30,108▲
2024 · €26,761
Cash flow
€22,686▲
2024 · €19,536
Current ratio
0.72▼
2024 · 0.79
Quick ratio
0.51▼
2024 · 0.56
Debt to equity
-20.34▲
2024 · -20.69
ROA
0.2%▲
2024 · -0.5%
Interest coverage
3.64▲
2024 · 3.38
Debt ≤ 1 year
€68,115▲
2024 · €64,921
Debt > 1 year
€193,907▼
2024 · €214,012
Staff costs
€43,322▲
2024 · €32,709
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,447 companies that looked in July 2024 the way this one looks now, 2.1% went bankrupt within 24 months and 92% are still going.
- Micro
- 20 years or older
- negative equity
- a profit under 5% of the balance sheet
2.1%
went bankrupt
4.8%
stopped otherwise
92%
still going
A further 1.0% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.7% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 1,447 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €165,567 | €171,716 | €211,620 | €202,885 | €228,067 | ▲ 12.4% |
| Non-recurring operating income76A | €6,500 | - | - | - | €500 | - |
| Goods, raw materials, services and sundry goods60/61 | €118,769 | €148,591 | €160,969 | €145,819 | €157,482 | ▲ 8.0% |
| Remuneration, social security and pensions62 | €11,622 | €20,138 | €30,221 | €32,709 | €43,322 | ▲ 32.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €21,389 | €20,219 | €20,573 | €20,838 | €22,086 | ▲ 6.0% |
| Other operating charges640/8 | €1,887 | €2,011 | €2,296 | €2,304 | €2,326 | ▲ 1.0% |
| Non-recurring operating charges66A | - | - | - | - | €700 | - |
| Gross operating margin9900 | €57,093 | €27,871 | €56,625 | €61,774 | €76,456 | ▲ 23.8% |
| Operating profit (loss)9901 | €22,195 | -€14,496 | €3,535 | €5,923 | €8,022 | ▲ 35.4% |
| Financial income75/76B | €5 | - | €287 | €699 | €840 | ▲ 20.2% |
| Recurring financial income75 | €5 | - | €287 | €699 | €840 | ▲ 20.2% |
| Non-recurring financial income76B | €5 | - | - | - | - | - |
| Financial charges65/66B | €7,301 | €6,863 | €7,205 | €7,924 | €8,262 | ▲ 4.3% |
| Recurring financial charges65 | €7,301 | €6,863 | €7,205 | €7,924 | €8,262 | ▲ 4.3% |
| Profit (loss) for the period before taxes9903 | €14,899 | -€21,359 | -€3,383 | -€1,302 | €600 | ▲ 146% |
| Profit (loss) for the period9904 | €14,899 | -€21,359 | -€3,383 | -€1,302 | €600 | ▲ 146% |
| Profit (loss) for the period to be appropriated9905 | €14,899 | -€21,359 | -€3,383 | -€1,302 | €600 | ▲ 146% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €320,760 | €281,673 | €275,257 | €265,483 | €249,172 | ▼ 6.1% |
| Fixed assets21/28 | €262,812 | €243,816 | €226,478 | €214,144 | €199,912 | ▼ 6.6% |
| Tangible fixed assets22/27 | €262,746 | €243,749 | €226,412 | €214,078 | €199,846 | ▼ 6.6% |
| Land and buildings22 | €243,184 | €226,509 | €209,833 | €193,158 | €176,482 | ▼ 8.6% |
| Plant, machinery and equipment23 | €11,624 | €10,096 | €8,568 | €11,581 | €15,064 | ▲ 30.1% |
| Furniture and vehicles24 | €7,938 | €7,144 | €8,011 | €9,339 | €8,300 | ▼ 11.1% |
| Financial fixed assets28 | €66 | €66 | €66 | €66 | €66 | = |
| Current assets29/58 | €57,948 | €37,858 | €48,779 | €51,339 | €49,260 | ▼ 4.0% |
| Stocks and contracts in progress3 | €17,142 | €16,133 | €15,641 | €15,212 | €14,569 | ▼ 4.2% |
| Stocks30/36 | €17,142 | €16,133 | €15,641 | €15,212 | €14,569 | ▼ 4.2% |
| Amounts receivable within one year40/41 | €11,581 | €13,203 | €26,930 | €30,513 | €29,976 | ▼ 1.8% |
| Trade receivables40 | €11,581 | €10,968 | €13,957 | €16,383 | €14,016 | ▼ 14.4% |
| Other amounts receivable41 | - | €2,235 | €12,972 | €14,130 | €15,960 | ▲ 13.0% |
| Cash at bank and in hand54/58 | €28,598 | €7,893 | €5,734 | €3,744 | €4,238 | ▲ 13.2% |
| Deferred charges and accrued income490/1 | €627 | €629 | €474 | €1,870 | €477 | ▼ 74.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €320,760 | €281,673 | €275,257 | €265,483 | €249,172 | ▼ 6.1% |
| Equity10/15 | €12,563 | -€8,796 | -€12,179 | -€13,481 | -€12,881 | ▲ 4.5% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | - | - | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | -€7,897 | -€29,256 | -€32,639 | -€33,941 | -€33,341 | ▲ 1.8% |
| Amounts payable17/49 | €308,197 | €290,470 | €287,436 | €278,964 | €262,053 | ▼ 6.1% |
| Amounts payable after more than one year17 | €272,037 | €253,066 | €233,726 | €214,012 | €193,907 | ▼ 9.4% |
| Financial debts170/4 | €272,037 | €253,066 | €233,726 | €214,012 | €193,907 | ▼ 9.4% |
| Amounts payable within one year42/48 | €35,996 | €37,294 | €53,624 | €64,921 | €68,115 | ▲ 4.9% |
| Current portion of amounts payable after more than one year42 | €23,719 | €22,198 | €22,566 | €22,944 | €23,331 | ▲ 1.7% |
| Financial debts43 | - | - | €13,667 | €19,657 | €18,399 | ▼ 6.4% |
| Credit institutions430/8 | - | - | €13,667 | €19,657 | €18,399 | ▼ 6.4% |
| Trade debts44 | €5,603 | €8,537 | €10,565 | €12,730 | €13,292 | ▲ 4.4% |
| Suppliers440/4 | €5,603 | €8,537 | €10,565 | €12,730 | €13,292 | ▲ 4.4% |
| Taxes, remuneration and social security45 | €5,696 | €6,441 | €6,452 | €7,125 | €10,273 | ▲ 44.2% |
| Taxes450/3 | €4,893 | €1,881 | €1,753 | €1,852 | €3,132 | ▲ 69.1% |
| Remuneration and social security454/9 | €803 | €4,560 | €4,699 | €5,273 | €7,141 | ▲ 35.4% |
| Other amounts payable47/48 | €978 | €118 | €373 | €2,465 | €2,820 | ▲ 14.4% |
| Accrued charges and deferred income492/3 | €164 | €110 | €87 | €31 | €31 | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €14,899 | -€21,359 | -€3,383 | -€1,302 | €600 | ▲ 146% |
| + Depreciation and write-downs630 | €21,389 | €20,219 | €20,573 | €20,838 | €22,086 | ▲ 6.0% |
| Operating cash flow (approximation) | €36,288 | -€1,140 | €17,190 | €19,536 | €22,686 | ▲ 16.1% |
| Investment in fixed assets (approximation) | - | -€1,223 | -€3,235 | -€8,504 | -€7,854 | ▲ 7.6% |
| Change in cash | - | -€20,705 | -€2,159 | -€1,990 | €494 | ▲ 125% |
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
23-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €600
Net result €600 after 3 loss-making years.
20-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
14-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
23-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet -€21,359
Net result drops to -€21,359, the lowest in the series; recovery starts the following year.
13-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Highest result since 2018net €14,899 ▲28.8%
Operating result €22,195, net result €14,899, both a record.
14-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Back to profitnet €11,569
Net result €11,569 after 2 loss-making years.
14-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
22-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
08-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
21-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro 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, Genappe · 2 establishment units since 1985
Ground area
3,044 m²
Building footprint
261 m²
Volume, LiDAR
1,689 m³
2 parcels, Wallonia · tallest building 9.8 m, ±3 floors. Linked by address, not a title deed.
2 establishment units
Rue du Cerisier 4, 1490 Court-Saint-Etienne
since 19852.028.987.404
Une autre Epoque
since 20162.258.522.957
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25003G0102/00B002 | Wallonia | 2,563 m² | 1 · 145 m² | 9.8 m · 3 fl. |
| 25023K0098/02H000 | Wallonia | 481 m² | 1 · 115 m² | 9.0 m · 2 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteGenappe2.258.522.957
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Of 21,859 companies in sector 56112 we hold annual accounts for 9,779. 7,420 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
Founded01-09-1985
Fiscal year end31-12
Activities, NACEBEL 2025
56112Limited-service restaurants, excluding mobile food services
56210Event catering
56111Full-service restaurants
E-invoicing
Reachable via Peppol
Peppol ID
0208:0428548671
Also
9925:BE0428548671
Registered
02-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.