ACTIVE

MICHELDENOLF

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Financial year 2025 · closed on 31/12/2025
Net result
33,5 k €
-68.1% YoY
Gross margin
746,9 k €
-10.3% YoY
Equity
198,6 k €
+20.3% YoY
Workforce
11,4 ETP
-10.2% YoY

What does MICHELDENOLF do?

MICHELDENOLF is a Public limited company incorporated in 2011. Its main activity is: Manufacture of furniture. Its registered office is in Ichtegem. It employs on average 11,4 ETP workers (FTE).

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0834.844.851
Incorporation
23/03/2011
Legal form
Public limited company
Registered office
Oostendesteenweg(FICH) 143
8480 Ichtegem · FlandreSee on map
Contributed capital
246 000,00 €
Latest accounts
31/12/2025
Average workforce
11,4 ETP
Activities (NACE)
31004Manufacture of furniture· main31091Manufacture of other furniture
Joint committees (4)
  • 126
  • 1260
  • 200
  • 218
Signals
ProfitableLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts
View the BCE/KBO Public Search record →
Health score
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✦ Verdict · Analyst summary
Financials

Trend over 13 financial years

2025202420232022202120192018201720162015201420132012
Income statement
Gross margin746,9 k €832,7 k €744,8 k €592,9 k €583,9 k €492,7 k €492,4 k €492,8 k €420,8 k €406,1 k €458,7 k €377,8 k €903,9 k €
EBITDA72,9 k €139,7 k €76,2 k €15,3 k €33,8 k €32,6 k €34,8 k €36,9 k €-5,9 k €-6,3 k €41,7 k €-85,7 k €55 k €
Operating result48,8 k €117,2 k €56,2 k €-4,6 k €7,7 k €18,9 k €23,2 k €18,2 k €-24,5 k €-39 k €9 k €-114,2 k €22,5 k €
Net result33,5 k €105,1 k €40 k €-22,4 k €-5,5 k €3,1 k €6,7 k €2,1 k €-41,3 k €-50,7 k €-576,3 €-122,3 k €4,2 k €
Balance sheet
Equity198,6 k €165,1 k €60 k €20 k €42,3 k €47,2 k €44,1 k €37,4 k €35,2 k €76,6 k €127,3 k €127,9 k €188,7 k €
Total assets1 M €943,1 k €880,7 k €788,1 k €790 k €538,6 k €478,3 k €512 k €489,3 k €431,3 k €430,6 k €386,1 k €376,6 k €
Cash48,6 k €80,6 k €136,1 k €67,2 k €103,5 k €38,7 k €25,2 k €35,4 k €66,4 k €55 k €62,1 k €36,4 k €82,7 k €
Debts787,4 k €756,1 k €806,6 k €758,8 k €743,2 k €491,3 k €433,9 k €474,4 k €443,1 k €347,3 k €303,3 k €258,2 k €188 k €
Other
Workforce11,4 ETP12,7 ETP12,8 ETP12,3 ETP12,6 ETP11,4 ETP11,8 ETP11,6 ETP11,5 ETP11,6 ETP12,2 ETP14,2 ETP16,0 ETP
Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€
See the valuation
Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 17 ended

Active mandates

IMMO MICHELDENOLF

Managing director · since 01 juillet 2020 · 0424.754.981

Represented by Denolf Didier

Active
Mia Vermeersch

Director · since 01 juillet 2020

Active

Ended mandates

IMMO MICHELDENOLF

Managing director · since 01 juillet 2020 · 0424.754.981

Represented by Denolf DIDIER

Ended
IMMO MICHELDENOLF

Director · since 14 décembre 2017 · 0424.754.981

Represented by Didier Denolf

Ended
IMMO MICHELDENOLF

Director · since 14 décembre 2017 · until 09 juin 2023 · 0424.754.981

Represented by DIDIER DENOLF

Ended
CHANTAL DENOLF

Director · since 05 décembre 2016 · until 14 décembre 2017

Ended
At this address

Other companies at this address

CompanyCBE no.
GROEP MICHELDENOLF● Active
0754.887.850
IMMO MICHELDENOLF● Active
0424.754.981
Annual accounts

Full financial information

202520242023202220212020
Type of accountAbridged modelAbridged modelAbridged modelAbridged modelAbridged modelAbridged model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/01/2020
Closing of the financial year31/12/202531/12/202431/12/202331/12/202231/12/202131/12/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date13/08/202617/07/202528/08/202428/08/202331/08/202230/07/2021
General meeting12/06/202613/06/202514/06/202409/06/202310/06/202211/06/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

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Filings

Annual accounts filings

14 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Abridged model31/12/202512/06/202613/08/2026DutchPDF
Abridged model31/12/202413/06/202517/07/2025DutchPDF
Abridged model31/12/202314/06/202428/08/2024DutchPDF
Abridged model31/12/202209/06/202328/08/2023DutchPDF
Abridged model31/12/202110/06/202231/08/2022DutchPDF
Abridged model31/12/202011/06/202130/07/2021DutchPDF
Abridged model31/12/201912/06/202024/07/2020DutchPDF
Abridged model31/12/201814/06/201928/08/2019DutchPDF
Abridged model31/12/201708/06/201828/08/2018DutchPDF
Abridged model31/12/201609/06/201729/06/2017DutchPDF
Abridged model31/12/201510/06/201615/07/2016DutchPDF
Abridged model31/12/201412/06/201508/07/2015DutchPDF
Abridged model31/12/201313/06/201420/08/2014DutchPDF
Abridged model31/12/201214/06/201327/08/2013DutchPDF
Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 k€

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 · 17 ended

Active mandates

IMMO MICHELDENOLF

Managing director · since 01 juillet 2020 · 0424.754.981

Represented by Denolf Didier

Active
Mia Vermeersch

Director · since 01 juillet 2020

Active

Ended mandates

IMMO MICHELDENOLF

Managing director · since 01 juillet 2020 · 0424.754.981

Represented by Denolf DIDIER

Ended
IMMO MICHELDENOLF

Director · since 14 décembre 2017 · 0424.754.981

Represented by Didier Denolf

Ended
IMMO MICHELDENOLF

Director · since 14 décembre 2017 · until 09 juin 2023 · 0424.754.981

Represented by DIDIER DENOLF

Ended
CHANTAL DENOLF

Director · since 05 décembre 2016 · until 14 décembre 2017

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Other19/01/2024
    STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …)
    PDF
  • Mandates27/08/2020
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates08/01/2018
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates28/12/2016
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates13/07/2011
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Other06/04/2011
    RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, 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

Timeline

  1. 2025
    Annual accounts 202533,5 k €↓
  2. 2024
    Annual accounts 2024105,1 k €↑
  3. 2023
    Annual accounts 202340 k €↑
  4. 2022
    Annual accounts 2022-22,4 k €↓
  5. 2021
    Annual accounts 2021-5,5 k €↓
  6. 2019
    Annual accounts 20193,1 k €↓
  7. 2018
    Annual accounts 20186,7 k €↑
  8. 2017
    Annual accounts 20172,1 k €↑
  9. 2016
    Annual accounts 2016-41,3 k €↑
  10. 2015
    Annual accounts 2015-50,7 k €↓
  11. 2014
    Annual accounts 2014-576,3 €↑
  12. 2013
    Annual accounts 2013-122,3 k €↓
  13. 2012
    Annual accounts 20124,2 k €
  14. 23/03/2011
    IncorporationPublic limited company