ACTIVE

MICHEL LOGISTICS

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Financial year 2025 · closed on 31/12/2025

Net result

303,4 k €

+728.8% YoY

Gross margin

2,1 M €

+32.0% YoY

Equity

1,9 M €

+16.5% YoY

Workforce

22,4 ETP

-5.1% YoY

What does MICHEL LOGISTICS do?

MICHEL LOGISTICS is a Public limited company incorporated in 2000. Its main activity is: Warehousing and storage. Its registered office is in La Louvière. It employs on average 22,4 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0473.001.593

Incorporation

10/10/2000

Legal form

Public limited company

Registered office

Rue Cronos(H-G) 1
7110 La Louvière · Wallonie

Contributed capital

74 500,00 €

Latest accounts

31/12/2025

Average workforce

22,4 ETP

Activities (NACE)

52100Warehousing and storage· main 52100Warehousing and storage 62010Computer programming activities 62100Computer programming, consultancy and related activities 63122Web portals 72220Research and experimental development on social sciences and humanities

Joint committees (3)

14039
226
2260

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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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	2,1 M €	+32.0%	1,6 M €	-11.6%	1,8 M €	+3.8%	1,7 M €	+15.2%	1,5 M €	+4.8%	1,4 M €	+10.8%	1,3 M €	-29.2%	1,8 M €	+4.0%	1,8 M €	-9.6%	2 M €	-14.5%	2,3 M €	+13.5%	2 M €	+7.6%	1,9 M €	+19.9%	1,6 M €	-18.3%	1,9 M €	+18.9%	1,6 M €	+39.1%	1,2 M €	-0.6%	1,2 M €	+7.6%	1,1 M €	+20.6%	899,9 k €
EBITDA	723,2 k €	+122%	325,6 k €	+0.5%	323,9 k €	-28.7%	454,1 k €	+15.2%	394,3 k €	+18.8%	332 k €	+241%	97,3 k €	-84.7%	634,6 k €	-0.9%	640,6 k €	-23.8%	840,7 k €	-7.7%	910,9 k €	+20.5%	755,9 k €	+7.2%	705 k €	+32.6%	531,8 k €	-55.7%	1,2 M €	+19.8%	1 M €	+69.5%	591,1 k €	-10.5%	660,5 k €	+8.7%	607,5 k €	+38.0%	440,4 k €
Operating result	400,9 k €	+1048%	34,9 k €	+70.2%	20,5 k €	-67.6%	63,2 k €	+334%	14,6 k €	+119%	-76,1 k €	+78.0%	-345,4 k €	-429%	104,8 k €	+64.6%	63,7 k €	-72.7%	233,7 k €	-16.7%	280,7 k €	+167%	105,1 k €	+9.0%	96,4 k €	+175%	-128,5 k €	-125%	512,1 k €	+70.7%	300 k €	+115%	139,3 k €	-25.8%	187,7 k €	-17.2%	226,8 k €	+35.5%	167,4 k €
Net result	303,4 k €	+729%	36,6 k €	+50.7%	24,3 k €	-72.8%	89,2 k €	+148%	36 k €	+161%	-58,7 k €	-128%	207,4 k €	+115%	96,5 k €	+123%	43,3 k €	-76.8%	186,9 k €	-2.6%	191,9 k €	+591%	27,8 k €	+132%	12 k €	+105%	-262 k €	-193%	281,9 k €	+124%	126,1 k €	+4381%	2,8 k €	-94.6%	52 k €	-54.3%	113,7 k €	+24.6%	91,2 k €
Balance sheet
Equity	1,9 M €	+16.5%	1,7 M €	+0.5%	1,7 M €	-0.6%	1,7 M €	+2.5%	1,6 M €	-0.7%	1,6 M €	-6.2%	1,8 M €	+10.1%	1,6 M €	+2.6%	1,5 M €	-1.0%	1,6 M €	+8.3%	1,4 M €	+9.3%	1,3 M €	-3.4%	1,4 M €	-4.7%	1,4 M €	-19.5%	1,8 M €	+11.8%	1,6 M €	+59.9%	997,8 k €	-4.7%	1 M €	-1.3%	1,1 M €	+5.3%	1 M €
Total assets	3,3 M €	+16.7%	2,8 M €	-1.7%	2,9 M €	-12.3%	3,3 M €	+2.0%	3,2 M €	-13.0%	3,7 M €	-8.2%	4 M €	-20.4%	5,1 M €	-0.5%	5,1 M €	-10.2%	5,7 M €	-12.4%	6,5 M €	-9.4%	7,2 M €	+7.0%	6,7 M €	-8.8%	7,3 M €	-7.7%	8 M €	-7.0%	8,5 M €	+13.6%	7,5 M €	+29.3%	5,8 M €	+17.0%	5 M €	+1.4%	4,9 M €
Cash	142,3 k €	+305%	35,1 k €	-38.9%	57,5 k €	-29.6%	81,7 k €	+131%	35,4 k €	-42.8%	61,8 k €	+719%	7,6 k €	-87.2%	59,1 k €	+231%	17,8 k €	+88.6%	9,5 k €	+40.1%	6,8 k €	-91.2%	76,6 k €	+411%	15 k €	-87.4%	118,9 k €	+124%	53,1 k €	+1144%	4,3 k €	-87.1%	33,2 k €	-35.6%	51,5 k €	+96.6%	26,2 k €	-58.3%	62,8 k €
Debts	1,3 M €	+17.2%	1,1 M €	-4.7%	1,2 M €	-24.3%	1,6 M €	+0.8%	1,6 M €	-23.0%	2 M €	-9.8%	2,3 M €	-34.4%	3,5 M €	-1.8%	3,5 M €	-13.6%	4,1 M €	-18.4%	5 M €	-13.6%	5,8 M €	+11.4%	5,2 M €	-10.9%	5,8 M €	-4.0%	6 M €	-11.4%	6,8 M €	+6.6%	6,4 M €	+37.9%	4,6 M €	+23.0%	3,8 M €	+0.7%	3,8 M €
Other
Workforce	22,4 ETP	-5.1%	23,6 ETP	-14.2%	27,5 ETP	+0.4%	27,4 ETP	+19.1%	23,0 ETP	-5.0%	24,2 ETP	-8.0%	26,3 ETP	+1.5%	25,9 ETP	+4.4%	24,8 ETP	0.0%	24,8 ETP	-23.2%	32,3 ETP	+8.8%	29,7 ETP	+6.8%	27,8 ETP	+9.4%	25,4 ETP	+28.9%	19,7 ETP	+21.6%	16,2 ETP	-3.6%	16,8 ETP	-2.3%	17,2 ETP	+16.2%	14,8 ETP	+3.5%	14,3 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 24 ended

Active mandates

Béatrice VAEREMANS

Director · since 07 novembre 2023 · until 07 novembre 2029

Active

Cendrine MICHEL

Director · since 07 novembre 2023 · until 07 novembre 2029

Active

MICHEL MANAGEMENT

Managing director · since 07 novembre 2023 · until 07 novembre 2029 · 0870.611.721

Represented by Didier MICHEL

Active

Valery MICHEL

Director · since 07 novembre 2023 · until 07 novembre 2029

Active

Ended mandates

Cendrine MICHEL

Director · since 28 juillet 2020 · until 02 juin 2025

Ended

Valery MICHEL

Director · since 28 juillet 2020 · until 02 juin 2025

Ended

Béatrice VAEREMANS

Director · since 06 juin 2017 · until 05 juin 2023

Ended

Béatrice VAEREMANS

Director · since 06 juin 2017 · until 02 juin 2025

Ended

At this address

Other companies at this address

Company	CBE no.
A & A● Active	0772.609.750
MICHEL MANAGEMENT● Active	0870.611.721
SA TRANSPORTS FERNAND MICHEL - DIDIER MICHEL - BEATRICE VAEREMANS SASPJ● Active	1031.595.097
Service Ambulance Strepy ASBL● Active	0635.523.511
SUCCESS SECURITY● Active	0825.473.859
Transports Fernand Michel● Active	0412.777.263
VSM AMBULANCE● Liquidation	0797.549.341

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	31/08/2026	29/08/2025	29/10/2024	24/08/2023	29/08/2022	30/07/2021
General meeting	30/06/2026	29/08/2025	07/10/2024	30/06/2023	30/06/2022	30/06/2021
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
Abridged model	31/12/2025	30/06/2026	31/08/2026	French	PDF
Abridged model	31/12/2024	29/08/2025	29/08/2025	French	PDF
Abridged model	31/12/2023	07/10/2024	29/10/2024	French	PDF
Abridged model	31/12/2022	30/06/2023	24/08/2023	French	PDF
Abridged model	31/12/2021	30/06/2022	29/08/2022	French	PDF
Abridged model	31/12/2020	30/06/2021	30/07/2021	French	PDF
Abridged model	31/12/2019	01/06/2020	11/08/2020	French	PDF
Abridged model	31/12/2018	03/06/2019	24/07/2019	French	PDF
Abridged model	31/12/2017	04/06/2018	12/07/2018	French	PDF
Abridged model	31/12/2016	06/06/2017	26/07/2017	French	PDF
Abridged model	31/12/2015	06/06/2016	25/07/2016	French	PDF
Abridged model	31/12/2014	01/06/2015	30/06/2015	French	PDF
Abridged model	31/12/2013	02/06/2014	18/07/2014	French	PDF
Abridged model	31/12/2012	03/06/2013	27/06/2013	French	PDF
Abridged model	31/12/2011	04/06/2012	25/06/2012	French	PDF
Abridged model	31/12/2010	06/06/2011	11/07/2011	French	PDF
Abridged model	31/12/2009	07/06/2010	29/06/2010	French	PDF
Abridged model	31/12/2008	02/06/2009	02/07/2009	French	PDF
Abridged model	31/12/2007	02/06/2008	09/07/2008	French	PDF
Abridged model	31/12/2006	04/06/2007	06/07/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 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 · 4 active · 24 ended

Active mandates

Béatrice VAEREMANS

Director · since 07 novembre 2023 · until 07 novembre 2029

Active

Cendrine MICHEL

Director · since 07 novembre 2023 · until 07 novembre 2029

Active

MICHEL MANAGEMENT

Managing director · since 07 novembre 2023 · until 07 novembre 2029 · 0870.611.721

Represented by Didier MICHEL

Active

Valery MICHEL

Director · since 07 novembre 2023 · until 07 novembre 2029

Active

Ended mandates

Cendrine MICHEL

Director · since 28 juillet 2020 · until 02 juin 2025

Ended

Valery MICHEL

Director · since 28 juillet 2020 · until 02 juin 2025

Ended

Béatrice VAEREMANS

Director · since 06 juin 2017 · until 05 juin 2023

Ended

Béatrice VAEREMANS

Director · since 06 juin 2017 · until 02 juin 2025

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates29/11/2023
OBJET - DEMISSIONS, NOMINATIONS
PDF
Mandates14/09/2020
DEMISSIONS, NOMINATIONS
PDF
Mandates13/10/2017
DEMISSIONS, NOMINATIONS
PDF
Other14/10/2016
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates25/01/2012
DEMISSIONS, NOMINATIONS
PDF
Registered office17/03/2011
SIEGE SOCIAL
PDF
Mandates24/05/2006
DEMISSIONS, NOMINATIONS - ASSEMBLEE GENERALE - CAPITAL, ACTIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates15/07/2005
DEMISSIONS, NOMINATIONS
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 2025303,4 k €↑
2024
Annual accounts 202436,6 k €↑
2023
Annual accounts 202324,3 k €↓
2022
Annual accounts 202289,2 k €↑
2021
Annual accounts 202136 k €↑
2020
Annual accounts 2020-58,7 k €↓
2019
Annual accounts 2019207,4 k €↑
2018
Annual accounts 201896,5 k €↑
2017
Annual accounts 201743,3 k €↓
2016
Annual accounts 2016186,9 k €↓
2015
Annual accounts 2015191,9 k €↑
2014
Annual accounts 201427,8 k €↑
2013
Annual accounts 201312 k €↑
2012
Annual accounts 2012-262 k €↓
2011
Annual accounts 2011281,9 k €↑
2010
Annual accounts 2010126,1 k €↑
2009
Annual accounts 20092,8 k €↓
2008
Annual accounts 200852 k €↓
2007
Annual accounts 2007113,7 k €↑
2006
Annual accounts 200691,2 k €
10/10/2000
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

MICHEL LOGISTICS

Overview

What does MICHEL LOGISTICS 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