MIPAL
ActiveSummary
MIPAL has been active since 2000 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €362,221 and a net result of -€31,141. Equity remains stable across the filed fiscal years (±1.2% per year). Its solvency ranks better than 37% of 8737 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability31▼-50
Solvency63▲+4
Growth32▼-26
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €22,000 at 30 days acceptable
Liquidity short (current ratio 0.59 against 0.91 in 2024; short-term debt: 36.3% and cash: 11.9% of total assets), and 61.8% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer 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
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 16-07-2026, 15 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
15 d early
2024
29 d early
2023
20 d early
2022
33 d early
2021
18 d early
2020
19 d early
2019
18 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 22 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% 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
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€362,221▼ 7.9%
2024 · €393,362
Total assets
€947,431▼ 17.3%
2024 · €1.1m
Net result
-€31,141
2024 · €113,523
Working capital
-€140,791▼ 190%
2024 · -€48,475
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy 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
Operating result€45,494▼ 50.0%€45,015▼ 1.1%€106,448▲ 136%€185,725▲ 74.5%€3,281▼ 98.2%
Net result€20,327within the sector's middle half▼ 62.3%€22,699within the sector's middle half▲ 11.7%€66,366within the sector's middle half▲ 192%€113,523within the sector's middle half▲ 71.1%-€31,141below the sector's middle half
Equity€825,275within the sector's middle half▲ 2.5%€847,974within the sector's middle half▲ 2.8%€914,340within the sector's middle half▲ 7.8%€393,362within the sector's middle half▼ 57.0%€362,221within the sector's middle half▼ 7.9%
Total assets€1.3mwithin the sector's middle half▼ 0.1%€1.3mwithin the sector's middle half▲ 0.4%€1.3mwithin the sector's middle half▼ 1.6%€1.1mwithin the sector's middle half▼ 8.4%€947,431within the sector's middle half▼ 17.3%
Debt€440,477▼ 4.8%€422,411▼ 4.1%€336,161▼ 20.4%€752,649▲ 124%€585,209▼ 22.2%
Working capital€78,389▲ 38.4%€79,008▲ 0.8%€78,541▼ 0.6%-€48,475-€140,791▼ 190%
Solvency65.2%within the sector's middle half▲ 1.7pp66.7%within the sector's middle half▲ 1.5pp73.1%within the sector's middle half▲ 6.4pp34.3%within the sector's middle half▼ 38.8pp38.2%within the sector's middle half▲ 3.9pp
Staff (FTE)0within the sector's middle half0within the sector's middle half0within the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 98% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €947,431
Fixed assets
€744,764 ▲ 9.6%
Current assets
€202,667 ▼ 56.5%
Equity and liabilities €947,431
Equity
€362,221 ▼ 7.9%
Debt
€585,209 ▼ 22.2%
Debt's share of the balance-sheet total falls from 65.7% to 61.8%. Equity and debt are lower.
Key figures and ratios
EBITDA
€72,467▼
2024 · €240,598
Cash flow
€38,045▼
2024 · €168,396
Current ratio
0.59▼
2024 · 0.91
Debt to equity
1.62▼
2024 · 1.91
ROE
-8.6%▼
2024 · 28.9%
ROA
-3.3%▼
2024 · 9.9%
Interest coverage
1.95▼
2024 · 6.53
Debt ≤ 1 year
€343,457▼
2024 · €514,729
Debt > 1 year
€200,000=
2024 · €200,000
Income taxes
€285▼
2024 · €41,098
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 8,616 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 94% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a small loss
0.4%
went bankrupt
5.2%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.1% 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 497,662 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% | 1.7% |
| 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 75% 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 8,616 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €1,000 | €53,712 | €190,760 | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €79,077 | €77,919 | €44,409 | €54,873 | €69,186 | ▲ 26.1% |
| Other operating charges640/8 | €16,272 | €17,089 | €23,978 | €21,488 | €19,851 | ▼ 7.6% |
| Gross operating margin9900 | €140,844 | €140,023 | €174,834 | €262,086 | €92,318 | ▼ 64.8% |
| Operating profit (loss)9901 | €45,494 | €45,015 | €106,448 | €185,725 | €3,281 | ▼ 98.2% |
| Financial income75/76B | €3,719 | €4,443 | €4,255 | €5,733 | €2,946 | ▼ 48.6% |
| Recurring financial income75 | €3,719 | €4,443 | €4,255 | €5,733 | €2,946 | ▼ 48.6% |
| Financial charges65/66B | €20,314 | €20,154 | €22,401 | €36,837 | €37,082 | ▲ 0.7% |
| Recurring financial charges65 | €20,314 | €20,154 | €22,401 | €36,837 | €37,082 | ▲ 0.7% |
| Profit (loss) for the period before taxes9903 | €28,900 | €29,304 | €88,302 | €154,621 | -€30,856 | ▼ 120% |
| Income taxes67/77 | €8,573 | €6,605 | €21,936 | €41,098 | €285 | ▼ 99.3% |
| Profit (loss) for the period9904 | €20,327 | €22,699 | €66,366 | €113,523 | -€31,141 | ▼ 127% |
| Profit (loss) for the period to be appropriated9905 | €20,327 | €22,699 | €66,366 | €113,523 | -€31,141 | ▼ 127% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.3m | €1.3m | €1.3m | €1.1m | €947,431 | ▼ 17.3% |
| Fixed assets21/28 | €1.0m | €998,195 | €1.0m | €679,757 | €744,764 | ▲ 9.6% |
| Tangible fixed assets22/27 | €1.0m | €998,195 | €1.0m | €679,757 | €744,764 | ▲ 9.6% |
| Land and buildings22 | €1.0m | €998,195 | €953,739 | €604,525 | €675,329 | ▲ 11.7% |
| Furniture and vehicles24 | - | - | €88,655 | €75,232 | €69,435 | ▼ 7.7% |
| Current assets29/58 | €258,958 | €272,190 | €208,107 | €466,254 | €202,667 | ▼ 56.5% |
| Amounts receivable within one year40/41 | €27,747 | €50,500 | €38,066 | €43,378 | €22,830 | ▼ 47.4% |
| Trade receivables40 | - | €20,685 | €824 | €22,419 | €0 | ▼ 100% |
| Other amounts receivable41 | €27,747 | €29,815 | €37,242 | €20,958 | €22,830 | ▲ 8.9% |
| Current investments50/53 | €78,485 | €80,680 | €80,680 | €59,924 | €59,924 | = |
| Cash at bank and in hand54/58 | €152,530 | €138,102 | €88,465 | €360,506 | €112,318 | ▼ 68.8% |
| Deferred charges and accrued income490/1 | €196 | €2,908 | €897 | €2,446 | €7,594 | ▲ 210% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.3m | €1.3m | €1.3m | €1.1m | €947,431 | ▼ 17.3% |
| Equity10/15 | €825,275 | €847,974 | €914,340 | €393,362 | €362,221 | ▼ 7.9% |
| Contributions10/11 | €653,100 | €653,100 | €653,100 | €18,600 | €18,600 | = |
| Reserves13 | €36,045 | €36,045 | €36,045 | €374,762 | €343,621 | ▼ 8.3% |
| Non-distributable reserves130/1 | €8,280 | €8,280 | €8,280 | €0 | - | - |
| Reserves not available under the articles1311 | €8,280 | €8,280 | €8,280 | €0 | - | - |
| Tax-exempt reserves132 | €12,765 | €12,765 | €12,765 | €12,765 | €12,765 | = |
| Distributable reserves133 | €15,000 | €15,000 | €15,000 | €361,997 | €330,856 | ▼ 8.6% |
| Profit (loss) carried forward14 | €136,130 | €158,829 | €225,195 | €0 | - | - |
| Amounts payable17/49 | €440,477 | €422,411 | €336,161 | €752,649 | €585,209 | ▼ 22.2% |
| Amounts payable after more than one year17 | €255,000 | €225,000 | €200,000 | €200,000 | €200,000 | = |
| Financial debts170/4 | €255,000 | €225,000 | €200,000 | €200,000 | €200,000 | = |
| Amounts payable within one year42/48 | €180,569 | €193,182 | €129,567 | €514,729 | €343,457 | ▼ 33.3% |
| Current portion of amounts payable after more than one year42 | €30,000 | €30,000 | €25,000 | €0 | - | - |
| Trade debts44 | €0 | - | €2,116 | €22,681 | €13,090 | ▼ 42.3% |
| Suppliers440/4 | €0 | - | €2,116 | €22,681 | €13,090 | ▼ 42.3% |
| Taxes, remuneration and social security45 | €9,632 | €9,715 | €10,950 | €4,409 | €2,180 | ▼ 50.5% |
| Taxes450/3 | €9,632 | €9,715 | €10,950 | €4,409 | €2,180 | ▼ 50.5% |
| Other amounts payable47/48 | €140,936 | €153,467 | €91,501 | €487,639 | €328,187 | ▼ 32.7% |
| Accrued charges and deferred income492/3 | €4,909 | €4,229 | €6,595 | €37,920 | €41,752 | ▲ 10.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €20,327 | €22,699 | €66,366 | €113,523 | -€31,141 | ▼ 127% |
| + Depreciation and write-downs630 | €79,077 | €77,919 | €44,409 | €54,873 | €69,186 | ▲ 26.1% |
| Operating cash flow (approximation) | €99,404 | €100,618 | €110,775 | €168,396 | €38,045 | ▼ 77.4% |
| Investment in fixed assets (approximation) | - | -€69,319 | -€88,608 | €307,764 | -€134,193 | ▼ 144% |
| Change in cash | - | -€14,427 | -€49,638 | €272,041 | -€248,188 | ▼ 191% |
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
16-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet -€31,141
Net result drops to -€31,141, the lowest in the series.
02-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Highest result since 2018net €113,523 ▲71.1%
Operating result €185,725, net result €113,523, both a record.
11-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
28-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
13-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
12-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Back to profitnet €53,875
Net result €53,875 after 2 loss-making years.
13-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
15-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
05-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
10-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial 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, Roeselare · 1 establishment unit since 2010
Ground area
1,788 m²
Building footprint
366 m²
Volume, LiDAR
1,797 m³
Parcel 36502B0836/00X000, Flanders · tallest building 8.7 m, ±1 floor. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
MIPAL
since 20102.196.873.420
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36502B0836/00X000 | Flanders | 1,788 m² | 1 · 366 m² | 8.7 m · 1 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.
Recognitions · licences · registrations
Legal Entity Identifier
967600RBKM9396YOU923
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Of 5,712 companies in sector 70100 we hold annual accounts for 3,518. 2,294 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
Founded11-07-2000
Fiscal year end31-12
Activities, NACEBEL 2025
70100Activities of head offices
68203Renting and operating of own or leased non-residential real estate, excluding land
E-invoicing
Reachable via Peppol
Peppol ID
0208:0472359118
Also
9925:BE0472359118
Registered
18-11-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.