ACTIVE

MICHAND

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Financial year 2025 · closed on 31/12/2025

Net result

867,1 k €

+18.3% YoY

Gross margin

3,1 M €

+29.0% YoY

Equity

6,6 M €

-0.4% YoY

Workforce

4,3 ETP

-2.3% YoY

What does MICHAND do?

MICHAND is a Public limited company incorporated in 1994. Its main activity is: Sea and coastal freight water transport. Its registered office is in Schilde. It employs on average 4,3 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0452.325.450

Incorporation

16/03/1994

Legal form

Public limited company

Registered office

Rozenlaan 6
2970 Schilde · FlandreSee on map

Contributed capital

310 000,00 €

Latest accounts

31/12/2025

Average workforce

4,3 ETP

Activities (NACE)

50200Sea and coastal freight water transport· main 50200Sea and coastal freight water transport 50400Inland freight water transport 50400Inland freight water transport 61100Wired telecommunications activities 61200Wireless telecommunications activities+4

Joint committees (5)

200
2000
218
226
2260

Signals

ProfitableGood liquidityPositive cashflowPositive EBITDAHealthy social debts

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	3,1 M €	+29.0%	2,4 M €	+187%	830,8 k €	-41.8%	1,4 M €	+54.5%	923,6 k €	+9.6%	842,4 k €	+28.9%	653,3 k €	+436%	122 k €	-90.7%	1,3 M €	-5.7%	1,4 M €	-2.6%	1,4 M €	+20.7%	1,2 M €	-38.4%	1,9 M €	-4.5%	2 M €	+16.9%	1,7 M €	-6.4%	1,8 M €	+16.5%	1,6 M €	+18.4%	1,3 M €	+24.4%	1,1 M €	+8.0%	991,9 k €
EBITDA	2,6 M €	+35.1%	2 M €	+412%	381,5 k €	-62.2%	1 M €	+79.0%	564 k €	+1.1%	557,7 k €	+69.4%	329,3 k €	+1074%	-33,8 k €	-104%	919,3 k €	-18.7%	1,1 M €	-14.6%	1,3 M €	-10.3%	1,5 M €	-16.2%	1,8 M €	-4.8%	1,8 M €	+23.0%	1,5 M €	-7.7%	1,6 M €	+24.4%	1,3 M €	+12.7%	1,2 M €	+31.2%	886,6 k €	+8.3%	819 k €
Operating result	1 M €	+32.1%	761 k €	+1151%	60,8 k €	-64.9%	173,1 k €	+173%	-237,7 k €	-336%	100,6 k €	+237%	-73,6 k €	+82.9%	-431,2 k €	-268%	257 k €	-23.7%	337 k €	-28.1%	468,5 k €	-27.7%	648 k €	-31.1%	940,2 k €	-8.6%	1 M €	+45.9%	705,5 k €	-2.7%	725,5 k €	+45.3%	499,3 k €	-18.5%	612,5 k €	+65.6%	369,8 k €	+25.8%	293,8 k €
Net result	867,1 k €	+18.3%	732,7 k €	+1029%	-78,9 k €	-122%	351,2 k €	+258%	-221,6 k €	-176%	290 k €	+334%	-124,2 k €	-112%	1,1 M €	+2078%	49,2 k €	-16.6%	59 k €	-87.6%	477,4 k €	+156%	186,8 k €	-39.4%	308,1 k €	+2.1%	301,7 k €	-66.0%	886,3 k €	+413%	172,6 k €	+596%	-34,8 k €	-121%	168,2 k €	+138%	70,8 k €	+29.7%	54,6 k €
Balance sheet
Equity	6,6 M €	-0.4%	6,6 M €	+0.3%	6,6 M €	+51.0%	4,4 M €	+6.8%	4,1 M €	+2.9%	4 M €	+11.3%	3,6 M €	-10.6%	4 M €	+35.9%	2,9 M €	-0.0%	2,9 M €	+2.7%	2,9 M €	+13.9%	2,5 M €	+3.6%	2,4 M €	+14.5%	2,1 M €	+12.9%	1,9 M €	+78.4%	1,1 M €	+8.1%	975 k €	-5.2%	1 M €	+16.9%	879,8 k €	+6.2%	828,1 k €
Total assets	31,7 M €	+16.1%	27,3 M €	+19.9%	22,8 M €	+60.8%	14,2 M €	-5.6%	15 M €	+11.0%	13,5 M €	+36.9%	9,9 M €	-2.5%	10,1 M €	-7.3%	10,9 M €	-3.7%	11,3 M €	-21.6%	14,5 M €	+0.3%	14,4 M €	-1.0%	14,6 M €	-0.0%	14,6 M €	+1.9%	14,3 M €	+1.4%	14,1 M €	-11.9%	16 M €	+44.0%	11,1 M €	+49.8%	7,4 M €	-5.9%	7,9 M €
Cash	72,4 k €	+136%	30,7 k €	+23.4%	24,9 k €	+593%	3,6 k €	-84.8%	23,7 k €	+20.5%	19,6 k €	+184%	6,9 k €	+21.7%	5,7 k €	+8.1%	5,3 k €	+21.1%	4,3 k €	-64.7%	12,3 k €	+9.5%	11,2 k €	-75.1%	45,1 k €	+10.1%	40,9 k €	+20.4%	34 k €	+3510%	941,9 €	-93.9%	15,5 k €	-83.7%	94,7 k €	+297%	23,9 k €	-53.6%	51,4 k €
Debts	23,6 M €	+22.7%	19,2 M €	+30.2%	14,8 M €	+64.2%	9 M €	-11.3%	10,1 M €	+15.1%	8,8 M €	+59.9%	5,5 M €	+2.7%	5,4 M €	-26.6%	7,3 M €	-6.4%	7,8 M €	-29.1%	11 M €	-2.8%	11,3 M €	+2.3%	11,1 M €	-3.2%	11,5 M €	-1.2%	11,6 M €	-8.5%	12,7 M €	-13.7%	14,7 M €	+49.5%	9,8 M €	+57.4%	6,2 M €	-7.6%	6,8 M €
Other
Workforce	4,3 ETP	-2.3%	4,4 ETP	-6.4%	4,7 ETP	-13.0%	5,4 ETP	+17.4%	4,6 ETP	+53.3%	3,0 ETP	-14.3%	3,5 ETP	-12.5%	4,0 ETP	-24.5%	5,3 ETP	+23.3%	4,3 ETP	+19.4%	3,6 ETP	+16.1%	3,1 ETP	+19.2%	2,6 ETP	0.0%	2,6 ETP	+23.8%	2,1 ETP	-27.6%	2,9 ETP	+7.4%	2,7 ETP	+3.8%	2,6 ETP	0.0%	2,6 ETP	-10.3%	2,9 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 17 ended

Active mandates

VERFINCO

Director · 0466.085.988

Represented by Erik VERMEYLEN

Active

VERMEYLEN INVESTMENT COMPANY

Director · 0744.935.650

Represented by Tom Vermeylen

Active

Ended mandates

Erik Vermeylen

Mandate · since 14 août 2009 · until 14 août 2015

Ended

Erik Vermeylen

Mandate · since 01 août 2009 · until 31 mai 2015

Ended

VERFINCO

Managing director · since 01 août 2009 · until 31 mai 2015 · 0466.085.988

Represented by Erik Vermeylen

Ended

Maria Geijskens

Mandate · since 09 octobre 2007 · until 14 août 2009

Ended

At this address

Other companies at this address

Company	CBE no.
Royal Fuel Transport● Active	1024.874.581

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	16/06/2026	03/07/2025	09/07/2024	29/06/2023	07/06/2022	11/05/2021
General meeting	26/05/2026	16/06/2025	17/06/2024	29/05/2023	30/05/2022	26/04/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	26/05/2026	16/06/2026	Dutch	PDF
Abridged model	31/12/2024	16/06/2025	03/07/2025	Dutch	PDF
Abridged model	31/12/2023	17/06/2024	09/07/2024	Dutch	PDF
Abridged model	31/12/2022	29/05/2023	29/06/2023	Dutch	PDF
Abridged model	31/12/2021	30/05/2022	07/06/2022	Dutch	PDF
Abridged model	31/12/2020	26/04/2021	11/05/2021	Dutch	PDF
Abridged model	31/12/2019	25/05/2020	23/06/2020	Dutch	PDF
Abridged model	31/12/2018	27/05/2019	13/06/2019	Dutch	PDF
Abridged model	31/12/2017	28/05/2018	09/07/2018	Dutch	PDF
Abridged model	31/12/2016	29/05/2017	29/06/2017	Dutch	PDF
Abridged model	31/12/2015	30/05/2016	27/06/2016	Dutch	PDF
Abridged model	31/12/2014	15/06/2015	03/07/2015	Dutch	PDF
Abridged model	31/12/2013	26/05/2014	26/06/2014	Dutch	PDF
Abridged model	31/12/2012	27/05/2013	28/06/2013	Dutch	PDF
Abridged model	31/12/2011	28/05/2012	13/07/2012	Dutch	PDF
Abridged model	31/12/2010	20/06/2011	29/07/2011	Dutch	PDF
Abridged model	31/12/2009	31/05/2010	22/07/2010	Dutch	PDF
Abridged model	31/12/2008	25/05/2009	26/06/2009	Dutch	PDF
Abridged model	31/12/2007	26/05/2008	31/07/2008	Dutch	PDF
Abridged model	31/12/2006	28/05/2007	29/06/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 k€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 17 ended

Active mandates

VERFINCO

Director · 0466.085.988

Represented by Erik VERMEYLEN

Active

VERMEYLEN INVESTMENT COMPANY

Director · 0744.935.650

Represented by Tom Vermeylen

Active

Ended mandates

Erik Vermeylen

Mandate · since 14 août 2009 · until 14 août 2015

Ended

Erik Vermeylen

Mandate · since 01 août 2009 · until 31 mai 2015

Ended

VERFINCO

Managing director · since 01 août 2009 · until 31 mai 2015 · 0466.085.988

Represented by Erik Vermeylen

Ended

Maria Geijskens

Mandate · since 09 octobre 2007 · until 14 août 2009

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates11/04/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - ONTSLAGEN - BENOEMINGEN
PDF
Mandates09/11/2021
ONTSLAGEN - BENOEMINGEN
PDF
Restructuring05/08/2021
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring27/05/2021
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Mandates20/08/2020
ONTSLAGEN - BENOEMINGEN - DIVERSEN
PDF
Mandates09/01/2020
WIJZIGING RECHTSVORM - KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN
PDF
Registered office19/08/2014
MAATSCHAPPELIJKE ZETEL
PDF
Mandates11/10/2011
ONTSLAGEN - BENOEMINGEN - WIJZIGING RECHTSVORM
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 2025867,1 k €↑
2024
Annual accounts 2024732,7 k €↑
2023
Annual accounts 2023-78,9 k €↓
2022
Annual accounts 2022351,2 k €↑
2021
Annual accounts 2021-221,6 k €↓
2020
Annual accounts 2020290 k €↑
2019
Annual accounts 2019-124,2 k €↓
2018
Annual accounts 20181,1 M €↑
2017
Annual accounts 201749,2 k €↓
2016
Annual accounts 201659 k €↓
2015
Annual accounts 2015477,4 k €↑
2014
Annual accounts 2014186,8 k €↓
2013
Annual accounts 2013308,1 k €↑
2012
Annual accounts 2012301,7 k €↓
2011
Annual accounts 2011886,3 k €↑
2010
Annual accounts 2010172,6 k €↑
2009
Annual accounts 2009-34,8 k €↓
2008
Annual accounts 2008168,2 k €↑
2007
Annual accounts 200770,8 k €↑
2006
Annual accounts 200654,6 k €
16/03/1994
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

MICHAND

Overview

What does MICHAND do?

Trend over 20 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline