NORMAL SITUATION

MI&S

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Financial year 2025 · closed on 31/12/2025

Net result

-542 k €

-459.0% YoY

Revenue

11 M €

+4.6% YoY

Equity

1,6 M €

-25.9% YoY

Workforce

56,4 ETP

-2.4% YoY

Company — Normal situation.

Strike-off: 25 juillet 2026

What does MI&S do?

MI&S is a Public limited company incorporated in 2010. It employs on average 56,4 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0829.389.590

Incorporation

20/09/2010

Legal form

Public limited company

Contributed capital

2 093 769,00 €

Latest accounts

31/12/2025

Average workforce

56,4 ETP

Joint committees (1)

Signals

Good liquidityHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 16 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010
Income statement
Revenue	11 M €	+4.6%	10,5 M €	+8.3%	9,7 M €	+10.6%	8,8 M €	+13.1%	7,8 M €	-16.3%	9,3 M €	-8.0%	10,1 M €	+17.4%	8,6 M €	+48.8%	5,8 M €	+26.2%	4,6 M €	+147%	1,8 M €	+2.9%	1,8 M €	-18.0%	2,2 M €	-22.3%	2,8 M €	+155%	1,1 M €	+8306%	13,2 k €
EBITDA	-362,8 k €	-189%	407,7 k €	-42.0%	703,5 k €	+22.6%	574 k €	+2.6%	559,7 k €	-47.3%	1,1 M €	+1046%	92,6 k €	-52.2%	193,7 k €	+211%	-175,3 k €	-159%	298,7 k €	-21.7%	381,4 k €	+1733814%	-22 €	+100.0%	-525,9 k €	+13.3%	-606,2 k €	+33.7%	-914,3 k €	-184%	-322 k €
Operating result	-374,3 k €	-192%	408,2 k €	-40.5%	685,5 k €	+22.8%	558,3 k €	+8.5%	514,4 k €	-47.5%	979,2 k €	+2247%	-45,6 k €	-147%	96,5 k €	+145%	-214,7 k €	-174%	289,5 k €	-23.3%	377,2 k €	+4332%	-8,9 k €	+98.4%	-546,9 k €	+14.1%	-636,5 k €	+31.1%	-923,4 k €	-186%	-322,4 k €
Net result	-542 k €	-459%	151 k €	-59.2%	370 k €	+25.3%	295,4 k €	-30.0%	422,3 k €	-51.2%	864,8 k €	+791%	-125,2 k €	-489%	32,2 k €	+112%	-265,5 k €	-193%	285,6 k €	+18.2%	241,5 k €	+255%	-155,4 k €	+77.2%	-682,9 k €	+8.1%	-743 k €	+20.5%	-934,3 k €	-190%	-322,3 k €
Balance sheet
Equity	1,6 M €	-25.9%	2,1 M €	0.0%	2,1 M €	+21.4%	1,7 M €	+20.7%	1,4 M €	+41.9%	1 M €	+606%	142,6 k €	-46.8%	267,8 k €	+13.7%	235,6 k €	-53.0%	501,1 k €	+132%	215,5 k €	+108%	-2,8 M €	-5.9%	-2,6 M €	-35.2%	-1,9 M €	-62.2%	-1,2 M €	-359%	-260,3 k €
Total assets	5,9 M €	+21.1%	4,8 M €	+0.1%	4,8 M €	+22.0%	4 M €	+15.8%	3,4 M €	+10.9%	3,1 M €	+40.9%	2,2 M €	+9.7%	2 M €	+4.9%	1,9 M €	+18.1%	1,6 M €	+240%	473,9 k €	+144%	194 k €	-66.1%	572,1 k €	-25.2%	764,9 k €	+20.4%	635,3 k €	+738%	75,8 k €
Cash	546 k €	+19.3%	457,5 k €	+1481%	28,9 k €	+21.0%	23,9 k €	-0.4%	24 k €	-75.0%	95,9 k €	+106%	46,6 k €	-43.3%	82,1 k €	+177%	29,6 k €	-10.9%	33,3 k €	+533%	5,3 k €	-85.0%	35,1 k €	-55.9%	79,7 k €	-3.9%	82,9 k €	-46.7%	155,7 k €	+1176%	12,2 k €
Debts	4,1 M €	+61.4%	2,5 M €	+12.9%	2,3 M €	+24.8%	1,8 M €	+23.1%	1,5 M €	-22.4%	1,9 M €	-5.6%	2 M €	+16.3%	1,7 M €	+5.7%	1,6 M €	+47.2%	1,1 M €	+330%	258,1 k €	-91.3%	3 M €	-7.0%	3,2 M €	+18.1%	2,7 M €	+47.7%	1,8 M €	+444%	336,1 k €
Other
Workforce	56,4 ETP	-2.4%	57,8 ETP	-0.5%	58,1 ETP	+8.0%	53,8 ETP	-1.5%	54,6 ETP	-24.6%	72,4 ETP	-0.7%	72,9 ETP	+33.3%	54,7 ETP	+35.1%	40,5 ETP	+32.8%	30,5 ETP	+142%	12,6 ETP	+6.8%	11,8 ETP	-18.6%	14,5 ETP	-9.9%	16,1 ETP	+56.3%	10,3 ETP	+243%	3,0 ETP

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 39 ended

Active mandates

Cave Caenem

Managing director · since 01 juillet 2025 · until 18 avril 2031 · 0687.693.277

Represented by Alexander Van Caeneghem

Active

J.J. Smit Holding BV

Director · since 26 avril 2023 · until 20 avril 2029

Represented by Jacobus Johannes SMIT

Active

Ended mandates

Joost Pepijn DE BRUIN

Director · since 01 mars 2025 · until 18 avril 2031

Ended

XKG Advisory

Managing director · since 26 avril 2023 · until 20 avril 2029 · 0829.785.312

Represented by Xavier GABRIËLS

Ended

Jan Albert VAN AUTREVE

Director · since 01 septembre 2022 · until 21 août 2028

Ended

TriFinance Holding BV

Director · since 04 octobre 2021 · until 16 avril 2027

Represented by Gerbrand VISSER

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full 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	15/04/2026	03/04/2025	10/07/2024	15/05/2023	28/04/2022	19/05/2021
General meeting	24/03/2026	27/03/2025	28/03/2024	26/04/2023	07/04/2022	16/04/2021
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

16 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	24/03/2026	15/04/2026	Dutch	PDF
Full model	31/12/2024	27/03/2025	03/04/2025	Dutch	PDF
Full model	31/12/2023	28/03/2024	10/07/2024	Dutch	PDF
Full model	31/12/2022	26/04/2023	15/05/2023	Dutch	PDF
Full model	31/12/2021	07/04/2022	28/04/2022	Dutch	PDF
Full model	31/12/2020	16/04/2021	19/05/2021	Dutch	PDF
Full model	31/12/2019	17/04/2020	06/05/2020	Dutch	PDF
Full model	31/12/2018	10/05/2019	12/06/2019	Dutch	PDF
Full model	31/12/2017	20/04/2018	22/05/2018	Dutch	PDF
Full model	31/12/2016	21/04/2017	23/05/2017	Dutch	PDF
Full model	31/12/2015	15/04/2016	17/05/2016	Dutch	PDF
Full model	31/12/2014	17/04/2015	11/05/2015	Dutch	PDF
Full model	31/12/2013	18/04/2014	13/05/2014	Dutch	PDF
Full model	31/12/2012	19/04/2013	22/05/2013	Dutch	PDF
Full model	31/12/2011	20/04/2012	23/05/2012	Dutch	PDF
Full model	31/12/2010	15/04/2011	31/05/2011	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 · 39 ended

Active mandates

Cave Caenem

Managing director · since 01 juillet 2025 · until 18 avril 2031 · 0687.693.277

Represented by Alexander Van Caeneghem

Active

J.J. Smit Holding BV

Director · since 26 avril 2023 · until 20 avril 2029

Represented by Jacobus Johannes SMIT

Active

Ended mandates

Joost Pepijn DE BRUIN

Director · since 01 mars 2025 · until 18 avril 2031

Ended

XKG Advisory

Managing director · since 26 avril 2023 · until 20 avril 2029 · 0829.785.312

Represented by Xavier GABRIËLS

Ended

Jan Albert VAN AUTREVE

Director · since 01 septembre 2022 · until 21 août 2028

Ended

TriFinance Holding BV

Director · since 04 octobre 2021 · until 16 avril 2027

Represented by Gerbrand VISSER

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Dissolution23/07/2026
RUBRIEK EINDE (STOPZETTING, INTREKKING STOPZETTING, NIETIGHEID, GER. AK., GERECHTELIJKE REORGANISATIE, ENZ... - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Other20/05/2026
DIVERSEN
PDF
Mandates22/12/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates20/08/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates11/06/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates09/04/2025
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares20/12/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - KAPITAAL - AANDELEN
PDF
Mandates04/12/2024
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

2025
Annual accounts 2025-542 k €↓
2024
Annual accounts 2024151 k €↓
2023
Annual accounts 2023370 k €↑
2022
Annual accounts 2022295,4 k €↓
2021
Annual accounts 2021422,3 k €↓
2020
Annual accounts 2020864,8 k €↑
2019
Annual accounts 2019-125,2 k €↓
2018
Annual accounts 201832,2 k €↑
2017
Annual accounts 2017-265,5 k €↓
2016
Annual accounts 2016285,6 k €↑
2015
Annual accounts 2015241,5 k €↑
2014
Annual accounts 2014-155,4 k €↑
2013
Annual accounts 2013-682,9 k €↑
2012
Annual accounts 2012-743 k €↑
2011
Annual accounts 2011-934,3 k €↓
2010
Annual accounts 2010-322,3 k €
20/09/2010
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

MI&S

Overview

What does MI&S do?

Trend over 16 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