Active BE 0436.734.085Public limited companyOpen bankruptcy

MISHAL

· 37 yrs active

Sector: Wholesale trade (46861)

Conclusion Checked

A bankruptcy procedure is open for MISHAL according to publications in the Belgian State Gazette. The file additionally contains 1 administrative flag. The 2022 annual accounts show equity of €14.70M and a net result of €110k.

Based on the State Gazette, CBE and 5 annual accounts.

Key figures

Equity	€14.70M
Net result	€110k
Active	37 yrs
Locations	1

Snowflake analysis 5 axes · computed by Checked

29 / 100

Fragile profile, watch stability in particular.

Health 21

Profitability 14

Solvency 65

Growth 46

Stability 0

Bankruptcy probability (12 mo) Checked model v1 · free

Bankruptcy opened

A bankruptcy procedure is already open, a probability score is no longer meaningful. See the insolvency timeline for the state of the procedure.

Risk Assessment rule-based

53 / 100

High risk

Components

· Open bankruptcy (+50)

· 1 administrative flag (+3)

Trust signals 1 signals

Open bankruptcy

Active bankruptcy procedure in the Belgisch Staatsblad. Claims are handled by the appointed curator.

Administrative Flags 1 events

Address struck

Health barometer FY 2022 · computed

21 / 100 Critical

050100

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Computed by Checked from NBB filings and Belgian State Gazette signals. Indicative, not credit advice.

Financial overview10 NBB filings

Annual accounts filed on 27-08-2024 with the NBB · fiscal year 2023 · volledig

RevenueOperating resultNet result

Revenue

€87.48M

+10.1% 18-22

EBITDA

€2.13M

+39.0% 18-22

Net profit

€110k

+312.3% 18-22

Cash flow

€125k

+203.6% 18-22

Total assets

€52.68M

+3.7% 18-22

Equity

€14.70M

+0.8% 18-22

Working capital

€29.60M

+4.4% 18-22

Employees (FTE)

2

-34.3% 18-22

Staff costs

€39k

+802.6% 18-22

Income taxes

€26k

+36.9% 18-22

Debt

€37.97M

+4.8% 18-22

Debt ≤ 1y

€21.95M

+2.9% 18-22

Debt > 1y

€15.73M

+5.7% 18-22

Current ratio

2.35

+0.8% 18-22

Quick ratio

1.26

+4.7% 18-22

Solvency

27.9%

-2.8% 18-22

Debt / equity

2.58

+4.0% 18-22

ROE

0.7%

+309.2% 18-22

ROA

0.2%

+297.7% 18-22

Net margin

0.1%

+274.4% 18-22

EBITDA margin

2.4%

+26.2% 18-22

Interest coverage

2.43

+46.6% 18-22

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2022
Revenue	€87.48M
EBITDA	€2.13M
Net profit	€110k
Cash flow	€125k
Staff costs	€39k
Income taxes	€26k
Dividends	-
Total assets	€52.68M
Equity	€14.70M
Debt	€37.97M
of which ≤ 1y	€21.95M
of which > 1y	€15.73M
Working capital	€29.60M
Employees (FTE)	-

Ratios (computed)

	2022
Current ratio	2.35
Quick ratio	1.26
Working capital ratio	56.2%
Solvency	27.9%
Debt / equity	2.58
Long-term debt ratio	1.07
Interest coverage	2.43
Gross margin	3.2%
Net margin	0.1%
ROA	0.2%
ROE	0.7%
EBITDA margin	2.4%
Days sales outstanding	109d
Days payable outstanding	13d
Inventory turnover	3.55
Days inventory (DSI)	103d

Balance-sheet composition 2022

Assets

Fixed assets €1.13M · 2.1% Current assets €51.55M · 97.9%

Equity & liabilities

Equity €14.70M · 27.9% Debt €37.97M · 72.1%

Full annual accounts

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2022
Balance sheet, Assets
TOTAL ASSETS	20/58	€52.68M
Fixed assets	21/28	€1.13M
Tangible fixed assets	22/27	€1.12M
Financial fixed assets	28	€1k
Current assets	29/58	€51.55M
Stocks & contracts in progress	3	€23.88M
Amounts receivable within one year	40/41	€26.22M
Cash & bank	54/58	€1.44M
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€52.68M
Equity	10/15	€14.70M
Contributions / capital	10/11	€12.65M
Reserves	13	€2.05M
Amounts payable	17/49	€37.97M
Amounts payable after one year	17	€15.73M
Amounts payable within one year	42/48	€21.95M
Trade debts payable within one year	44	€3.02M
Income statement
Turnover	70	€87.48M
Operating result	9901	€2.12M
Financial income	75	€3k
Financial charges	65	€1.99M
Result before taxes	9903	€137k
Income taxes	67/77	€26k
Net result for the period	9904	€110k
Result to be appropriated	9905	€110k

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Ratios computed by Checked.

Directors & mandates1 person

Role	Name	Tenure	Source
Curator	STéPHANE VAN MOORLEGHEM MECHELSE- STEENWEG 271/8.1, 2018 ANTWERPEN 1	24-10-2024 → present	Belgian State Gazette

Legal Structure

NACE primary	Wholesale trade(46861)
Legal form	Public limited company(014)
Incorporation	14-02-1989
Status	Active
Postal code	-
First BS signal	30-10-2024
Latest BS signal	30-10-2024

Company structure, linked entities1 linked entities

Mandates

Establishment units 1 location

Establishment

Groothandel in diamant

since 19892.042.244.631

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Real-estate footprint Source: CBE × cadastre

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
11808H1178/00F008	Flanders	3,604 m²	1 · 2,774 m²	45.0 m · 8 fl.

Methodology

via registered seat: 1

1 of 1 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Updates 13 events

A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.

2026

23-02-2026

KBO administration Address struck

2024

30-10-2024

Bankruptcy Opening

Ondernemingsrechtbank Antwerpen, afdeling Antwerpen · MISHAL NV HOVENNIERS- STRAAT 2/131, 2018 ANTWERPEN 1 · event 24-10-2024

27-08-2024