NORMAL SITUATION

MICHIELS

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Financial year 2025 · closed on 31/12/2025

Net result

548,1 k €

-30.4% YoY

Gross margin

4 M €

-8.3% YoY

Equity

1,3 M €

+0.6% YoY

Workforce

28,9 ETP

+9.5% YoY

Company — Normal situation.

Strike-off: 11 septembre 2026

What does MICHIELS do?

MICHIELS is a Public limited company incorporated in 1996. It employs on average 28,9 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0458.612.139

Incorporation

05/08/1996

Legal form

Public limited company

Contributed capital

962 680,05 €

Latest accounts

31/12/2025

Average workforce

28,9 ETP

Joint committees (5)

00
14904
200
2000
218

Signals

ProfitableSolid equityGood liquidityPositive cashflowPositive EBITDAHealthy social debts

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	4 M €	-8.3%	4,3 M €	+11.3%	3,9 M €	+10.0%	3,5 M €	-18.3%	4,3 M €	-5.7%	4,6 M €	+0.2%	4,6 M €	-5.4%	4,8 M €		–		–		–		–		–		–		–		–		–		–		–
EBITDA	1,5 M €	-27.2%	2 M €	+2.0%	2 M €	-2.1%	2,1 M €	-12.2%	2,3 M €	-5.1%	2,5 M €	-4.8%	2,6 M €	-4.6%	2,7 M €	-3.9%	2,8 M €	+35.2%	2,1 M €	-13.3%	2,4 M €	+20.5%	2 M €	+10.8%	1,8 M €	+1.9%	1,8 M €	+0.8%	1,8 M €	-0.9%	1,8 M €	+5.9%	1,7 M €	-12.0%	1,9 M €	+14.8%	1,7 M €
Operating result	792,5 k €	-36.1%	1,2 M €	+12.6%	1,1 M €	+5.0%	1 M €	-15.2%	1,2 M €	-10.2%	1,4 M €	-10.8%	1,5 M €	-3.1%	1,6 M €	+1.4%	1,6 M €	+50.9%	1 M €	-24.1%	1,4 M €	+49.5%	918 k €	+10.5%	831 k €	-13.7%	962,7 k €	-6.3%	1 M €	-6.1%	1,1 M €	+22.7%	892,1 k €	-9.0%	980,6 k €	+40.3%	699,1 k €
Net result	548,1 k €	-30.4%	788 k €	+2.8%	766,5 k €	-2.3%	784,6 k €	-15.9%	933,5 k €	-11.3%	1,1 M €	-5.8%	1,1 M €	-2.6%	1,1 M €	+9.8%	1 M €	+51.5%	690 k €	-26.0%	933 k €	+54.9%	602,2 k €	+7.2%	561,6 k €	-15.6%	665,5 k €	-7.8%	722 k €	-4.0%	752,2 k €	+19.6%	629 k €	-5.7%	667,3 k €	+50.4%	443,6 k €
Balance sheet
Equity	1,3 M €	+0.6%	1,3 M €	+0.2%	1,3 M €	-22.0%	1,6 M €	-28.5%	2,2 M €	+4.2%	2,2 M €	+0.1%	2,2 M €	+28.6%	1,7 M €	-13.1%	1,9 M €	+114%	898,9 k €	-28.7%	1,3 M €	-8.6%	1,4 M €	-24.6%	1,8 M €	+13.1%	1,6 M €	-31.2%	2,4 M €	+7.9%	2,2 M €	+22.6%	1,8 M €	+18.6%	1,5 M €	+26.9%	1,2 M €
Total assets	4,1 M €	-15.7%	4,9 M €	+8.1%	4,5 M €	-7.8%	4,9 M €	+13.9%	4,3 M €	-8.6%	4,7 M €	+3.7%	4,6 M €	-4.9%	4,8 M €	-0.8%	4,8 M €	+19.6%	4 M €	-12.3%	4,6 M €	+9.6%	4,2 M €	-1.3%	4,3 M €	+4.8%	4,1 M €	+1.9%	4 M €	+7.8%	3,7 M €	-0.4%	3,7 M €	+17.4%	3,2 M €	-13.6%	3,7 M €
Cash	541,8 k €	-44.6%	977,4 k €	+121%	443,1 k €	-55.5%	995,1 k €	-29.5%	1,4 M €	-11.4%	1,6 M €	+48.9%	1,1 M €	-37.8%	1,7 M €	+6.5%	1,6 M €	+59.7%	1 M €	+32.8%	761,7 k €	+8.4%	702,6 k €	+58.8%	442,4 k €	-39.0%	725,7 k €	-23.4%	948,1 k €	+4.3%	909,4 k €	+15.7%	785,9 k €	+171%	289,6 k €	+0.5%	288,1 k €
Debts	2,6 M €	-25.5%	3,5 M €	+9.6%	3,2 M €	-3.1%	3,3 M €	+59.8%	2,1 M €	-19.3%	2,5 M €	+6.6%	2,4 M €	-19.6%	3 M €	+8.9%	2,7 M €	-7.1%	2,9 M €	-10.3%	3,3 M €	+21.3%	2,7 M €	+17.1%	2,3 M €	-0.5%	2,3 M €	+55.7%	1,5 M €	+1.7%	1,5 M €	-23.4%	1,9 M €	+17.9%	1,6 M €	-30.1%	2,3 M €
Other
Workforce	28,9 ETP	+9.5%	26,4 ETP	+13.3%	23,3 ETP	+22.6%	19,0 ETP	-13.2%	21,9 ETP	-26.3%	29,7 ETP	+6.8%	27,8 ETP	-4.1%	29,0 ETP	0.0%	29,0 ETP	-0.3%	29,1 ETP	-6.4%	31,1 ETP	-10.1%	34,6 ETP	+7.8%	32,1 ETP	+0.6%	31,9 ETP	+6.7%	29,9 ETP	+2.0%	29,3 ETP	+3.5%	28,3 ETP	+4.4%	27,1 ETP	+1.9%	26,6 ETP

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 24 ended

Active mandates

Creoleon

Director · since 13 février 2026 · 0539.856.864

Represented by Vandermarliere Michel

Active

WALCO

Director · since 13 février 2026 · 0546.552.933

Represented by Balcaen Wouter

Active

Ended mandates

PHILLYNVEST

Director · since 27 décembre 2021 · until 28 juin 2027 · 0845.918.291

Represented by Philippe DECHAMPS

Ended

PHILLYNVEST

Director · since 27 décembre 2021 · 0845.918.291

Represented by Philippe Dechamps

Ended

POOGHE CONSULTING

Director · since 27 décembre 2021 · until 28 juin 2027 · 0774.917.459

Represented by Peter OOGHE

Ended

POOGHE CONSULTING

Director · since 27 décembre 2021 · 0774.917.459

Represented by Peter Ooghe

Ended

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	30/06/2026	01/07/2025	10/07/2024	19/03/2024	01/07/2022	09/07/2021
General meeting	29/06/2026	30/06/2025	24/06/2024	26/06/2023	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

22 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	29/06/2026	30/06/2026	Dutch	PDF
Abridged model	31/12/2024	30/06/2025	01/07/2025	Dutch	PDF
Abridged model	31/12/2023	24/06/2024	10/07/2024	Dutch	PDF
Abridged modelCorrection	31/12/2022	26/06/2023	19/03/2024	Dutch	PDF
Abridged model	31/12/2022	26/06/2023	30/06/2023	Dutch	PDF
Abridged model	31/12/2021	27/06/2022	01/07/2022	Dutch	PDF
Abridged model	31/12/2020	28/06/2021	09/07/2021	Dutch	PDF
Abridged model	31/12/2019	29/06/2020	13/07/2020	Dutch	PDF
Abridged model	31/12/2018	24/06/2019	03/07/2019	Dutch	PDF
Full model	31/12/2017	04/06/2018	05/07/2018	Dutch	PDF
Full model	31/12/2016	26/06/2017	20/07/2017	Dutch	PDF
Full model	31/12/2015	27/06/2016	28/06/2016	Dutch	PDF
Full model	31/12/2014	29/06/2015	03/07/2015	Dutch	PDF
Full model	31/12/2013	30/06/2014	03/07/2014	Dutch	PDF
Full model	31/12/2012	24/06/2013	04/07/2013	Dutch	PDF
Full model	31/12/2011	25/06/2012	18/07/2012	Dutch	PDF
Full model	31/12/2010	27/06/2011	01/07/2011	Dutch	PDF
Full modelCorrection	31/12/2009	28/06/2010	14/07/2010	Dutch	PDF
Full model	31/12/2009	28/06/2010	29/06/2010	Dutch	PDF
Full model	31/12/2008	29/06/2009	09/07/2009	Dutch	PDF
Full model	31/12/2007	30/06/2008	09/07/2008	Dutch	PDF
Full model	31/12/2006	25/06/2007	09/07/2007	Dutch	PDF

Estimate

Indicative valuation

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 · 24 ended

Active mandates

Creoleon

Director · since 13 février 2026 · 0539.856.864

Represented by Vandermarliere Michel

Active

WALCO

Director · since 13 février 2026 · 0546.552.933

Represented by Balcaen Wouter

Active

Ended mandates

PHILLYNVEST

Director · since 27 décembre 2021 · until 28 juin 2027 · 0845.918.291

Represented by Philippe DECHAMPS

Ended

PHILLYNVEST

Director · since 27 décembre 2021 · 0845.918.291

Represented by Philippe Dechamps

Ended

POOGHE CONSULTING

Director · since 27 décembre 2021 · until 28 juin 2027 · 0774.917.459

Represented by Peter OOGHE

Ended

POOGHE CONSULTING

Director · since 27 décembre 2021 · 0774.917.459

Represented by Peter Ooghe

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Restructuring14/09/2026
FUSIE DOOR OVERNAME (GERUISLOZE FUSIE) - VERGADERING
PDF
Restructuring14/09/2026
FUSIE DOOR OVERNAME (GERUISLOZE FUSIE) - VERGADERING
PDF
Restructuring25/06/2026
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring25/06/2026
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Mandates16/03/2026
ONTSLAGEN - BENOEMINGEN
PDF
Registered office08/01/2025
MAATSCHAPPELIJKE ZETEL
PDF
Mandates01/08/2023
ONTSLAGEN - BENOEMINGEN
PDF
Restructuring03/05/2023
DOEL - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
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 2025548,1 k €↓
2024
Annual accounts 2024788 k €↑
2023
Annual accounts 2023766,5 k €↓
2022
Annual accounts 2022784,6 k €↓
2021
Annual accounts 2021933,5 k €↓
2020
Annual accounts 20201,1 M €↓
2019
Annual accounts 20191,1 M €↓
2018
Annual accounts 20181,1 M €↑
2017
Annual accounts 20171 M €↑
2015
Annual accounts 2015690 k €↓
2014
Annual accounts 2014933 k €↑
2013
Annual accounts 2013602,2 k €↑
2012
Annual accounts 2012561,6 k €↓
2011
Annual accounts 2011665,5 k €↓
2010
Annual accounts 2010722 k €↓
2009
Annual accounts 2009752,2 k €↑
2008
Annual accounts 2008629 k €↓
2007
Annual accounts 2007667,3 k €↑
2006
Annual accounts 2006443,6 k €
05/08/1996
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

MICHIELS

Overview

What does MICHIELS do?

Trend over 19 financial years

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