ACTIVE

MICHIEL

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Financial year 2025 · closed on 31/12/2025

Net result

387,6 k €

+129.3% YoY

Gross margin

-48,2 k €

-137.7% YoY

Equity

79,2 M €

+0.5% YoY

What does MICHIEL do?

MICHIEL is a Public utility foundation incorporated in 2016. Its registered office is in Vorselaar.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0667.918.343

Incorporation

20/12/2016

Legal form

Public utility foundation

Registered office

Markt 19
2290 Vorselaar · FlandreSee on map

Latest accounts

31/12/2025

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflow

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 9 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017
Income statement
Gross margin	-48,2 k €	-138%	127,8 k €	-67.5%	393,3 k €	+12.0%	351,2 k €	+1218%	26,6 k €		–		–		–		–
EBITDA	-1,8 M €	-6.7%	-1,6 M €	-10.1%	-1,5 M €	-4.3%	-1,4 M €	-76.9%	-807,1 k €	-199%	812,4 k €	+242%	-573,7 k €	-523%	135,6 k €	-87.5%	1,1 M €
Operating result	-2,8 M €	+4.6%	-2,9 M €	-6.3%	-2,8 M €	-4.9%	-2,6 M €	-30.6%	-2 M €	-412%	-394 k €	+77.9%	-1,8 M €	-64.9%	-1,1 M €	-728%	-130,5 k €
Net result	387,6 k €	+129%	-1,3 M €	-20.6%	-1,1 M €	+78.4%	-5,1 M €	-197%	-1,7 M €	-432%	-321,6 k €	-114%	2,4 M €	+196%	-2,5 M €	-72.3%	-1,4 M €
Balance sheet
Equity	79,2 M €	+0.5%	78,8 M €	-1.6%	80,2 M €	-1.3%	81,3 M €	-5.9%	86,3 M €	-1.9%	88 M €	-0.4%	88,4 M €	+2.8%	86 M €	-2.8%	88,5 M €
Total assets	79,4 M €	+0.0%	79,4 M €	-1.9%	80,9 M €	-1.0%	81,8 M €	-5.3%	86,4 M €	-1.9%	88,1 M €	-0.4%	88,4 M €	+2.8%	86 M €	-2.8%	88,5 M €
Cash	752,7 k €	+83.5%	410,2 k €	-46.1%	761,1 k €	-89.0%	6,9 M €	-23.5%	9 M €	+16.6%	7,8 M €	-27.2%	10,6 M €	+33.1%	8 M €	+196%	2,7 M €
Debts	60,7 k €	+3.2%	58,8 k €	-31.1%	85,2 k €	-55.6%	191,9 k €	+232%	57,8 k €	+26.7%	45,6 k €	+20.4%	37,8 k €	-0.5%	38 k €	+28.9%	29,5 k €
Other
Workforce	–		–		0,0 ETP		0,0 ETP	-100%	1,0 ETP	+100%	0,5 ETP		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 50 M€ and 100 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 5 active · 19 ended

Active mandates

Frank Morlion

Mandate

Active

Maria Hendrickx

Mandate

Active

Maria Serneels

Mandate

Active

Steven Goetschalckx

Mandate

Active

Theresia Vorsselmans

Mandate

Active

Ended mandates

Aloïs Van Den Bossche

Managing director · since 01 janvier 2018 · until 31 août 2020

Ended

Aloïs Van Den Bossche

Managing director · since 01 janvier 2018 · until 31 décembre 2021

Ended

Catherine De Bie

Director · since 01 janvier 2018 · until 17 février 2020

Ended

Catherine De Bie

Director · since 01 janvier 2018 · until 31 décembre 2021

Ended

At this address

Other companies at this address

Company	CBE no.
Donchecentrum● Liquidation	0428.771.276
Donchestichting● Active	0875.835.863
ONDERWIJSINRICHTINGEN ZUSTERS DER CHRISTELIJKE SCHOLEN-KOEPEL● Active	0864.945.337
OZCS Maatschap Onderwijs● Active	0762.470.082
OZCS Scholengroep● Active	0737.999.853
Zusters der Christelijke Scholen - hulpfonds● Active	0438.815.924
Zusters der Christelijke Scholen Vorselaar● Active	0411.062.838

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Full 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	25/02/2026	26/06/2025	05/06/2024	24/05/2023	22/06/2022	31/05/2021
General meeting	19/02/2026	12/06/2025	30/05/2024	11/05/2023	19/05/2022	27/05/2021
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

9 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	19/02/2026	25/02/2026	Dutch	PDF
Abridged model	31/12/2024	12/06/2025	26/06/2025	Dutch	PDF
Abridged model	31/12/2023	30/05/2024	05/06/2024	Dutch	PDF
Abridged model	31/12/2022	11/05/2023	24/05/2023	Dutch	PDF
Abridged model	31/12/2021	19/05/2022	22/06/2022	Dutch	PDF
Full model	31/12/2020	27/05/2021	31/05/2021	Dutch	PDF
Full model	31/12/2019	04/06/2020	18/06/2020	Dutch	PDF
Full model	31/12/2018	18/06/2019	27/06/2019	Dutch	PDF
Full model	31/12/2017	26/06/2018	03/07/2018	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 50 M€ and 100 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 · 5 active · 19 ended

Active mandates

Frank Morlion

Mandate

Active

Maria Hendrickx

Mandate

Active

Maria Serneels

Mandate

Active

Steven Goetschalckx

Mandate

Active

Theresia Vorsselmans

Mandate

Active

Ended mandates

Aloïs Van Den Bossche

Managing director · since 01 janvier 2018 · until 31 août 2020

Ended

Aloïs Van Den Bossche

Managing director · since 01 janvier 2018 · until 31 décembre 2021

Ended

Catherine De Bie

Director · since 01 janvier 2018 · until 17 février 2020

Ended

Catherine De Bie

Director · since 01 janvier 2018 · until 31 décembre 2021

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Other26/05/2026
DOEL - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM
PDF
Mandates30/01/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates08/12/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - ONTSLAGEN - BENOEMINGEN
PDF
Mandates07/03/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates26/01/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates23/09/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates31/03/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates11/04/2018
ONTSLAGEN - BENOEMINGEN
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

01/01/2026
nominationMaria Serneels — voorzitter
01/01/2026
nominationTheresia Vorsselmans — financieel gedelegeerde
01/01/2026
nominationAlbert Coenen — algemeen directeur
2025
Annual accounts 2025387,6 k €↑
2024
Annual accounts 2024-1,3 M €↓
2023
Annual accounts 2023-1,1 M €↑
2022
Annual accounts 2022-5,1 M €↓
2021
Annual accounts 2021-1,7 M €↓
2020
Annual accounts 2020-321,6 k €↓
2019
Annual accounts 20192,4 M €↑
2018
Annual accounts 2018-2,5 M €↓
2017
Annual accounts 2017-1,4 M €
20/12/2016
IncorporationPublic utility foundation

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

MICHIEL

Overview

What does MICHIEL do?

Trend over 9 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