MIGLU Immobilier et Construct
ActiveSummary
The computed 12-month bankruptcy probability of MIGLU Immobilier et Construct is 1.9% (moderate). The 2025 annual accounts show equity of €68,981 and a net result of €11,117. Its solvency ranks better than 72% of 28184 sector peers (fiscal year 2025). The company has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability82▲+59
Solvency92▼-8
Growth78
Track record94
Bankruptcy probability, 12 months
1.9%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €4,000 at 30 days acceptable
Liquidity ample (current ratio 3.04 against 11.74 in 2024; short-term debt: 32.5% and cash: 0.4% of total assets), and 32.5% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
67.5%
Return on assets
10.9%
Age of the figures
12 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 24-04-2026, 6 days ahead of the deadline.
NBB · 2 filingsDeviation from the deadline
2025
6 d early
2024
15 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 2 accounts on average 11 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
28-09-2026 today30-09-2026 close30-04-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€68,981▲ 19.2%
2024 · €57,864
Total assets
€102,220▲ 61.6%
2024 · €63,254
Net result
€11,117
2024 · -€3,636
Working capital
€67,764▲ 17.1%
2024 · €57,864
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction 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
Line20242025
Operating result-€3,636-€12,608
Net result-€3,636below the sector's middle half-€11,117within the sector's middle half
Equity€57,864within the sector's middle half-€68,981within the sector's middle half▲ 19.2%
Total assets€63,254below the sector's middle half-€102,220within the sector's middle half▲ 61.6%
Debt€5,390-€33,239▲ 517%
Working capital€57,864-€67,764▲ 17.1%
Solvency91.5%above the sector's middle half-67.5%within the sector's middle half▼ 24.0pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction 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
The operating result returns to profit in 2025: €12,608 after a loss of €3,636 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €102,220
Fixed assets
€1,217
Current assets
€101,003
Equity and liabilities €102,220
Equity
€68,981 ▲ 19.2%
Debt
€33,239 ▲ 517%
Debt's share of the balance-sheet total rises from 8.5% to 32.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€13,024▲
2024 · -€744
Cash flow
€11,533▲
2024 · -€744
Current ratio
3.04▼
2024 · 11.74
Debt to equity
0.48▲
2024 · 0.09
ROE
16.1%▲
2024 · -6.3%
ROA
10.9%▲
2024 · -5.7%
Interest coverage
216.42
Debt ≤ 1 year
€33,239▲
2024 · €5,390
Income taxes
€2,600
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 39,276 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 96% are still going.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.6%
went bankrupt
2.2%
stopped otherwise
96%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.9% 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 39,276 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 | 2024 | 2025 | Change |
|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,892 | €416 | ▼ 85.6% |
| Gross operating margin9900 | -€744 | €13,024 | ▲ 1,851% |
| Operating profit (loss)9901 | -€3,636 | €12,608 | ▲ 447% |
| Financial income75/76B | - | €1,169 | - |
| Recurring financial income75 | - | €1,169 | - |
| Financial charges65/66B | - | €60 | - |
| Recurring financial charges65 | - | €60 | - |
| Profit (loss) for the period before taxes9903 | -€3,636 | €13,717 | ▲ 477% |
| Income taxes67/77 | - | €2,600 | - |
| Profit (loss) for the period9904 | -€3,636 | €11,117 | ▲ 406% |
| Profit (loss) for the period to be appropriated9905 | -€3,636 | €11,117 | ▲ 406% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €63,254 | €102,220 | ▲ 61.6% |
| Fixed assets21/28 | - | €1,217 | - |
| Tangible fixed assets22/27 | - | €1,217 | - |
| Furniture and vehicles24 | - | €1,217 | - |
| Current assets29/58 | €63,254 | €101,003 | ▲ 59.7% |
| Amounts receivable within one year40/41 | €63,254 | €100,619 | ▲ 59.1% |
| Trade receivables40 | €1,190 | - | - |
| Other amounts receivable41 | €62,064 | €100,619 | ▲ 62.1% |
| Cash at bank and in hand54/58 | - | €384 | - |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €63,254 | €102,220 | ▲ 61.6% |
| Equity10/15 | €57,864 | €68,981 | ▲ 19.2% |
| Contributions10/11 | €61,500 | €61,500 | = |
| Capital10 | €61,500 | - | - |
| Issued capital100 | €61,500 | - | - |
| Profit (loss) carried forward14 | -€3,636 | €7,481 | ▲ 306% |
| Amounts payable17/49 | €5,390 | €33,239 | ▲ 517% |
| Amounts payable within one year42/48 | €5,390 | €33,239 | ▲ 517% |
| Trade debts44 | €5,390 | €30,639 | ▲ 468% |
| Suppliers440/4 | €5,390 | €30,639 | ▲ 468% |
| Taxes, remuneration and social security45 | - | €2,600 | - |
| Taxes450/3 | - | €2,600 | - |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | -€3,636 | €11,117 | ▲ 406% |
| + Depreciation and write-downs630 | €2,892 | €416 | ▼ 85.6% |
| Operating cash flow (approximation) | -€744 | €11,533 | ▲ 1,650% |
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
27-07
State Gazette act
Resignations & appointmentsResignation: SUCH Stefan (director) · Appointment: COSTENAR Petru (director) · Incorporation15 facts ▸
State Gazette act
Resignations & appointments
Resignation: SUCH Stefan (director) · Appointment: COSTENAR Petru (director) · Incorporation15 facts ▸
- Incorporation, 09-06-2023
- General meeting, 16-07-2026
- Other statement, niet aanwezige of vertegenwoordigde bestuurders, afstand van oproeping
- Other statement, dagorde opgesteld overeenkomstig Wetboek van vennootschappen en verenigingen
- Other statement, aandelen niet in pand noch als zekerheid gesteld ten voordele van derden
- Other statement, geen converteerbare obligaties,geen inschrijvingsrechten,geen winstbewijzen die kapitaal niet vertegenwoordigen
- Capital, €61.500
- Name change, MIGLU Immobilier et Construct
- Registered-office move
- Statutes amendment
- Director resignation, SUCH Stefan (director)
- Director appointment, COSTENAR Petru (director)
- +3 further facts in this act
24-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Back to profitnet €11,117
Net result €11,117 after one loss-making year.
15-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 4 acts read
About the unread acts
Of the 4 Belgian State Gazette acts we know for this company, 1 has been read. The other 3 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, last change in 2026
COSTENAR Petru
CurrentDirector · since 16-07-2026
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
3 of this company's 4 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Asse · 1 establishment unit since 2023
Ground area
111 m²
Building footprint
109 m²
Parcel 23095B0076/00C002, Flanders. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
Such Developments
since 20232.345.919.759
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23095B0076/00C002 | Flanders | 111 m² | 1 · 109 m² | - |
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.
Mandate history
2 people since 2026, 1 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| COSTENAR Petru |
|
| SUCH Stefan |
|
Articles of association
Other statement
One provision in the deed
Structure & network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, scroll to zoom.
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Of 9,536 companies in sector 43222 we hold annual accounts for 5,669. 4,773 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded12-06-2023
Fiscal year end30-09
Legal name NL
Such Developments
Activities, NACEBEL 2025
43222Installation of electric heating, air conditioning, cooling and ventilation
43110Demolition
43211General electrical installation work
43221Plumbing work
43230Insulation installation
43320Joinery installation
47811Retail sale of cars and light vans (up to 3.5 tonnes)
47812Retail trade
77110Renting and leasing of cars and light motor vehicles
E-invoicing
Reachable via Peppol
Peppol ID
0208:0802650254
Also
9925:BE0802650254
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.