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MIREC Recycling

Active
Public limited companyfounded 1999active for 27 yearsEuropark-Noord 32, 9100 Sint-Niklaas, BelgiumKBO/BCE: BE 0466.198.430
Summary

MIREC Recycling has been active since 1999 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €4.9m and a net result of €1.1m. Equity is growing by about 19% per year across the filed financial years. Its solvency ranks better than 80% of 280 sector peers (NACE 38, financial year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).

Risk analysisFollow ReportCompare
MIREC RecyclingActiveChecked score 86/100
Risk analysis ReportCompare

Overview

Activity
Materials recovery from waste
NACE 38210
1 site
Size
€16.2mturnover 2025
Staff
21.7 FTE
Equity
€4.9m
Profit
€1.1m
Financial health
86 Excellent Checked score 2025
Bankruptcy probabilitywithin 12 months
0.4%
Structure
Parent
Mirec BV · 99%
2025 accounts 17 days early
Why 86raises riskLiquidity: current ratio 1.47, cash €22,811, halved2 of the last 3 latelowers riskFounded in 1999Equity €4.9m (68.2% of total assets)Show the evidence

Checked score

Score 2025
86 / 100
Excellent
Probability in this band: under 0.55%
Financially better than 69% of its sector peers (NACE 38, small)
Every signal that counts is listed under Signals.
Financial strength · tick = 2024
Strong
Solvency 93+19
equity 68.2% of total assets
Liquidity 41+5
short-term debt 25.6% · cash 0.3%
Profitability 79+6
return on assets 15.0%
Bankruptcy probability, 12 months
0.4% Very low
0%0.5%1.5%4%10%≥ 25%

About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.3% (200 companies, NACE 38, small)
Last 24 months 11-2024: 0.7% 12-2024: 0.7%● unchanged vs 11-2024 01-2025: 0.7%● unchanged vs 12-2024 02-2025: 0.6%▼ -0.1 percentage points vs 01-2025 03-2025: 0.6%● unchanged vs 02-2025 04-2025: 0.6%● unchanged vs 03-2025 05-2025: 0.6%● unchanged vs 04-2025 06-2025: 0.6%● unchanged vs 05-2025 07-2025: 0.7%▲ +0.1 percentage points vs 06-2025 08-2025: 0.9%▲ +0.2 percentage points vs 07-2025 09-2025: 0.9%● unchanged vs 08-2025 10-2025: 0.9%● unchanged vs 09-2025 11-2025: 0.9%● unchanged vs 10-2025 12-2025: 0.9%● unchanged vs 11-2025 01-2026: 0.9%● unchanged vs 12-2025 02-2026: 0.9%● unchanged vs 01-2026 03-2026: 0.8%▼ -0.1 percentage points vs 02-2026 04-2026: 0.8%● unchanged vs 03-2026 05-2026: 0.8%● unchanged vs 04-2026 06-2026: 0.8%● unchanged vs 05-2026 07-2026: 0.9%▲ +0.1 percentage points vs 06-2026highest value 08-2026: 0.4%▼ -0.5 percentage points vs 07-2026lowest value 09-2026: 0.4%● unchanged vs 08-2026lowest value 10-2026: 0.4%● unchanged vs 09-2026lowest value
Credit of up to €420,000 on 30-day terms is acceptable
Liquidity tight (current ratio 1.47, compared with 1.11 in 2024, below the usual 1.5; short-term debt: 25.6% and cash: 0.3% of total assets), and 31.8% of the assets are financed with debt and provisions.
How it is calculated

The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 38, small): better than 81% on solvency, 37% on liquidity, 76% on profitability and 83% on growth.

The bankruptcy probability was computed on 29-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Five signals.
lowers riskraises riskneutral
raises risk · Liquidity: current ratio 1.47, cash €22,811, halved
NBB · annual accounts
raises risk · 2 of the last 3 late
NBB · filings
lowers risk · Founded in 1999
Companies that have existed this long fail less often; how much that weighs depends on the rest of its profile.
KBO
lowers risk · Equity €4.9m (68.2% of total assets)
NBB · annual accounts
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 14-07-2026, 17 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
17 days early
2024
327 days late
2023
57 days late
2022
262 days late
2021
72 days late
2020
19 days early
2019
50 days 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 90 days after the deadline; the sector median (NACE 38) for financial year 2024 is 8 days before the deadline, and 32% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 11 October (4 of the last 5 filed years within 190 days of that day).
Companies Code · seven months
Where today falls in the filing period
30-10-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
Searched since 2021.
KBO publications · our coverage
  1. Reappointment: PwC Bedrijfsrevisoren (statutory auditor)Permanent representative: Katrijn Verhaegen
  2. Annual accounts filedfinancial year 2025 · full…
  3. Annual accounts filedfinancial year 2024 · full…

Key points

  • Positive: 6 years of growth in a rowturnover 2025: €16.2m 6 years View
  • Positive: Result rose in 2025from €680,691 to €1.1m ▲ 59.5% View
  • Positive: Among the best 20% on net resultsector median €138,965 · 278 companies €1.1m View
  • Controlled by Mirec BVknown shareholders 100% 99% View

By topic

Financials

Financial year
2025
Turnover
€16.2m
Profit
€1.1m
Solvency
68.2%
Turnover▲ 20.9%
Net result
20192025
Go to Financials

Board & ownership

Board
3 members
Parent
Mirec BV · 99%
Known shareholders
100%
  • Palmans ManuDirector
  • Kusters WoutDirector
  • Visser JohannesDirector
Go to Board & ownership

Timeline

Events
56
Since
2000
Next accounts
by 31-07-2027
  1. 05-05-2026Capital & shares
  2. 31-12-2025Highest result from 2019 to 2025
  3. 17-09-2025Resignations: Wout C Kusters (director) and Johannes…
Go to Timeline

Company details

Sites
1
Legal form
Public limited company
Activity
Materials recovery from wasteNACE 38210
Founded
08-06-1999
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

Articles of association

Provisions read
2
Purpose
“Het opslaan, het vervoer, de verkoop, de aankoop, de omvorming, de terugwinning en alle…” (deed in Dutch)
Go to Articles of association

Key facts about MIREC Recycling

What is the company number of MIREC Recycling?
0466.198.430. In Belgium the VAT number is the company number with BE in front: BE 0466.198.430.
Where is MIREC Recycling based?
The registered office is at Europark-Noord 32, 9100 Sint-Niklaas.Company details
What does MIREC Recycling do?
According to the KBO register, the main activity is materials recovery from waste (NACE 38210).
What is the legal form of MIREC Recycling?
Public limited company (NV).
When was MIREC Recycling founded?
On 08-06-1999.
Is MIREC Recycling still active?
Yes, MIREC Recycling is an active enterprise in the KBO register.
How many employees does MIREC Recycling have?
On average 21.7 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
What is the turnover of MIREC Recycling?
€16.2m in financial year 2025, according to the filed annual accounts.
Is MIREC Recycling profitable?
In financial year 2025, MIREC Recycling made a profit of €1.1m.
Where can I find the annual accounts of MIREC Recycling?
MIREC Recycling filed 26 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
When are the next annual accounts of MIREC Recycling due?
By 31-07-2027, for financial year 2026.Timeline

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How much credit can you give this customer, and on what payment terms?Credit check What should you check before you do business with this company?Supplier due diligence Is the workforce growing, and do people stay?Employer check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What support did similar companies receive that this one did not?Subsidies

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