ACTIVE

MICHIELSEN

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Financial year 2025 · closed on 31/12/2025

Net result

78,5 k €

-13.0% YoY

Gross margin

135,2 k €

-10.7% YoY

Equity

257,1 k €

-37.0% YoY

What does MICHIELSEN do?

MICHIELSEN is a Private company with limited liability incorporated in 1995. Its main activity is: Plumbing, heat and air-conditioning installation. Its registered office is in Herentals.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0456.050.349

Incorporation

27/09/1995

Legal form

Private company with limited liability

Registered office

Zeven Zillen(NDW) 1
2200 Herentals · FlandreSee on map

Contributed capital

18 600,00 €

Latest accounts

31/12/2025

Activities (NACE)

43221Plumbing, heat and air-conditioning installation· main 43221Plumbing, heat and air-conditioning installation 45332Sale of motor vehicle parts and accessories

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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	135,2 k €	-10.7%	151,4 k €	+56.6%	96,7 k €	-6.3%	103,1 k €	+52.8%	67,5 k €	-4.6%	70,7 k €	-31.0%	102,5 k €	+7.9%	95 k €	+12.4%	84,5 k €	-18.2%	103,2 k €	+36.6%	75,6 k €	-8.2%	82,4 k €	+46.1%	56,4 k €	-48.1%	108,5 k €	+16.1%	93,5 k €	+56.8%	59,6 k €	-23.5%	78 k €	+10.6%	70,5 k €	-5.7%	74,7 k €	+11.2%	67,2 k €
EBITDA	134,5 k €	-10.5%	150,3 k €	+56.7%	96 k €	-6.0%	102,1 k €	+62.1%	63 k €	-10.0%	70 k €	-31.2%	101,7 k €	+7.8%	94,4 k €	+13.0%	83,5 k €	-17.9%	101,8 k €	+36.4%	74,7 k €	-8.7%	81,8 k €	+46.4%	55,9 k €	-48.2%	107,8 k €	+16.9%	92,2 k €	+65.7%	55,6 k €	-21.6%	71 k €	+1.9%	69,7 k €	+4.4%	66,7 k €	+77.5%	37,6 k €
Operating result	106 k €	-12.2%	120,7 k €	+55.6%	77,6 k €	-7.6%	84 k €	+81.8%	46,2 k €	-26.2%	62,6 k €	-35.6%	97,2 k €	+6.8%	91 k €	+19.7%	76 k €	-18.6%	93,4 k €	+41.3%	66,1 k €	-8.7%	72,4 k €	+57.9%	45,9 k €	-55.1%	102 k €	+25.3%	81,4 k €	+84.4%	44,2 k €	-23.6%	57,8 k €	+4.8%	55,2 k €	+9.7%	50,3 k €	+110%	23,9 k €
Net result	78,5 k €	-13.0%	90,2 k €	+59.5%	56,6 k €	-7.3%	61,1 k €	+52.2%	40,1 k €	-17.9%	48,9 k €	-31.3%	71,2 k €	+6.0%	67,2 k €	+27.9%	52,5 k €	-16.2%	62,7 k €	+31.4%	47,7 k €	+8.9%	43,8 k €	+30.3%	33,6 k €	-51.6%	69,5 k €	+8.9%	63,8 k €	+69.2%	37,7 k €	-21.0%	47,7 k €	-3.2%	49,3 k €	+17.3%	42 k €	+79.2%	23,5 k €
Balance sheet
Equity	257,1 k €	-37.0%	408,2 k €	+6.0%	385,1 k €	+1.1%	381 k €	+0.2%	380,3 k €	-9.1%	418,1 k €	+2.9%	406,5 k €	+20.2%	338,3 k €	-11.8%	383,6 k €	+15.9%	331,1 k €	+22.3%	270,8 k €	+21.4%	223,1 k €	+24.4%	179,3 k €	+13.4%	158,1 k €	-55.3%	353,7 k €	+22.0%	289,9 k €	+13.9%	254,6 k €	-14.2%	296,9 k €	+16.9%	254 k €	+18.5%	214,4 k €
Total assets	449 k €	+1.5%	442,3 k €	+7.9%	410 k €	-4.6%	429,8 k €	+4.3%	412 k €	-11.9%	467,4 k €	+7.9%	433,3 k €	+24.3%	348,7 k €	-9.6%	385,6 k €	+8.5%	355,3 k €	-12.8%	407,5 k €	+1.6%	401 k €	+12.6%	356 k €	-2.5%	365,3 k €	+0.1%	364,9 k €	+18.0%	309,2 k €	-3.9%	321,6 k €	+1.6%	316,4 k €	+16.0%	272,8 k €	+11.0%	245,8 k €
Cash	208,6 k €	+15.5%	180,5 k €	+17.4%	153,7 k €	-31.5%	224,3 k €	+76.0%	127,4 k €	-36.0%	199,1 k €	-16.7%	239 k €	+73.7%	137,6 k €	-29.2%	194,3 k €	+30.1%	149,4 k €	-35.6%	232,1 k €	+5.5%	220 k €	-9.6%	243,3 k €	-6.4%	260 k €	+3.2%	251,8 k €	+35.9%	185,3 k €	+12.5%	164,7 k €	+70.2%	96,8 k €	+44.0%	67,2 k €	-1.0%	67,9 k €
Debts	192 k €	+463%	34,1 k €	+36.7%	24,9 k €	-48.9%	48,8 k €	+54.0%	31,7 k €	-35.7%	49,2 k €	+83.3%	26,9 k €	+157%	10,4 k €	+413%	2 k €	-91.6%	24,3 k €	-82.3%	136,8 k €	-23.1%	178 k €	+0.7%	176,8 k €	-14.7%	207,2 k €	+1754%	11,2 k €	-42.2%	19,3 k €	-71.2%	67 k €	+243%	19,6 k €	+4.2%	18,8 k €	-40.3%	31,5 k €
Other
Workforce	–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		1,0 ETP		–		1,0 ETP	0.0%	1,0 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 4 ended

Active mandates

Bert Michielsen

Administrator - manager · since 29 mai 2018

Active

Kristof Michielsen

Administrator - manager · since 29 mai 2018

Active

Ended mandates

Kristof Michielse

Administrator - manager · since 29 mai 2018

Ended

Bert Michielsen

Manager · since 01 juillet 1998

Ended

André Michielsen

Manager · until 29 mai 2018

Ended

André Michielsen

Manager

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro 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	28/08/2026	26/08/2025	28/08/2024	25/08/2023	22/08/2022	30/08/2021
General meeting	05/06/2026	06/06/2025	07/06/2024	02/06/2023	27/06/2022	28/06/2021
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
Micro model	31/12/2025	05/06/2026	28/08/2026	Dutch	PDF
Micro model	31/12/2024	06/06/2025	26/08/2025	Dutch	PDF
Micro model	31/12/2023	07/06/2024	28/08/2024	Dutch	PDF
Micro model	31/12/2022	02/06/2023	25/08/2023	Dutch	PDF
Micro model	31/12/2021	27/06/2022	22/08/2022	Dutch	PDF
Micro model	31/12/2020	28/06/2021	30/08/2021	Dutch	PDF
Micro model	31/12/2019	29/06/2020	07/09/2020	Dutch	PDF
Micro model	31/12/2018	28/06/2019	31/08/2019	Dutch	PDF
Micro model	31/12/2017	30/06/2018	28/08/2018	Dutch	PDF
Micro model	31/12/2016	30/06/2017	29/08/2017	Dutch	PDF
Abridged model	31/12/2015	16/08/2016	22/08/2016	Dutch	PDF
Abridged model	31/12/2014	30/06/2015	24/08/2015	Dutch	PDF
Abridged model	31/12/2013	18/07/2014	30/08/2014	Dutch	PDF
Abridged model	31/12/2012	16/08/2013	23/08/2013	Dutch	PDF
Abridged model	31/12/2011	30/04/2012	22/08/2012	Dutch	PDF
Abridged model	31/12/2010	26/08/2011	31/08/2011	Dutch	PDF
Abridged model	31/12/2009	16/08/2010	27/08/2010	Dutch	PDF
Abridged model	31/12/2008	01/06/2009	20/08/2009	Dutch	PDF
Abridged model	31/12/2007	30/06/2008	29/08/2008	Dutch	PDF
Abridged model	31/12/2006	22/06/2007	10/08/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 M€

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 · 4 ended

Active mandates

Bert Michielsen

Administrator - manager · since 29 mai 2018

Active

Kristof Michielsen

Administrator - manager · since 29 mai 2018

Active

Ended mandates

Kristof Michielse

Administrator - manager · since 29 mai 2018

Ended

Bert Michielsen

Manager · since 01 juillet 1998

Ended

André Michielsen

Manager · until 29 mai 2018

Ended

André Michielsen

Manager

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates30/01/2026
Ontslag en adreswijziging
PDF
Capital / shares15/06/2018
KAPITAAL - AANDELEN
PDF
Registered office02/03/2018
MAATSCHAPPELIJKE ZETEL
PDF
Capital / shares16/01/2014
BENAMING - KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates14/08/2007
ONTSLAGEN - BENOEMINGEN
PDF
Registered office06/11/2006
MAATSCHAPPELIJKE ZETEL
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 202578,5 k €↓
2024
Annual accounts 202490,2 k €↑
2023
Annual accounts 202356,6 k €↓
2022
Annual accounts 202261,1 k €↑
2021
Annual accounts 202140,1 k €↓
2020
Annual accounts 202048,9 k €↓
2019
Annual accounts 201971,2 k €↑
2018
Annual accounts 201867,2 k €↑
2017
Annual accounts 201752,5 k €↓
2016
Annual accounts 201662,7 k €↑
2015
Annual accounts 201547,7 k €↑
2014
Annual accounts 201443,8 k €↑
2013
Annual accounts 201333,6 k €↓
2012
Annual accounts 201269,5 k €↑
2011
Annual accounts 201163,8 k €↑
2010
Annual accounts 201037,7 k €↓
2009
Annual accounts 200947,7 k €↓
2008
Annual accounts 200849,3 k €↑
2007
Annual accounts 200742 k €↑
2006
Annual accounts 200623,5 k €
27/09/1995
IncorporationPrivate company with limited liability

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

MICHIELSEN

Overview

What does MICHIELSEN do?

Trend over 20 financial years

Indicative valuation

Board of directors

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