LE MILAN
ActiveLE MILAN has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €90k and a net result of €-20k. Equity is growing by ~4.4% per year across the filed fiscal years. Its solvency ranks better than 92% of 27676 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
64
/ 100
Healthy
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0▼-62
Solvency100=
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €5k at 30 days acceptable
Liquidity ample (current ratio 6.64 against 7.0 in 2024; short-term debt: 11.9% and cash: 34.9% of total assets), and 11.9% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Sector 43
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-20k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 20-08-2026, 20 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
20 d late
2024
on the day
2023
30 d late
2022
60 d late
2021
25 d late
2020
13 d late
2019
55 d late
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
20-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€90k▼ 17.9%
2024 · €110k
2018: €97k
2019: €55k
2020: €56k
2021: €84k
2022: €118k
2023: €116k
2024: €110k
2018 → 2025
Total assets
€102k▼ 17.9%
2024 · €125k
2018: €119k
2019: €70k
2020: €78k
2021: €121k
2022: €147k
2023: €143k
2024: €125k
2018 → 2025
Net result
€-20k▼ 203%
2024 · €-6k
2018: €18k
2019: €-42k
2020: €619
2021: €28k
2022: €34k
2023: €-2k
2024: €-6k
2018 → 2025
Working capital
€68k▼ 23.1%
2024 · €89k
2018: €82k
2019: €36k
2020: €49k
2021: €79k
2022: €83k
2023: €87k
2024: €89k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€84k-€118k▲ 41.1%€116k▼ 1.4%€110k▼ 5.6%€90k▼ 17.9%
Operating result€30k-€47k▲ 55.0%€-2k€-6k▼ 292%€-19k▼ 212%
Net result€28k-€34k▲ 23.2%€-2k€-6k▼ 283%€-20k▼ 203%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €19k in 2025 against €6k in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €102k
Fixed assets
€22k▲ 4.6%
Current assets
€81k▼ 22.4%
Equity and liabilities €102k
Equity
€90k▼ 17.9%
Debt
€12k▼ 18.1%
The debt ratio stays at 11.9%.
Key figures and ratios
EBITDA
€-5k▼
2024 · €6k
Cash flow
€-5k▼
2024 · €6k
Solvency
88.1%=
2024 · 88.1%
Current ratio
6.64▼
2024 · 7.00
Quick ratio
4.11▼
2024 · 4.72
Debt / equity
0.13▼
2024 · 0.14
ROE
-21.7%▼
2024 · -5.9%
ROA
-19.2%▼
2024 · -5.2%
Interest coverage
-30.39▼
2024 · 25.79
Debt
€12k▼
2024 · €15k
Debt ≤ 1 year
€12k▼
2024 · €15k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€125k€102k▼
Formation expenses20€0€0=
Fixed assets21/28€21k€22k▲
Intangible fixed assets21€0€0=
Tangible fixed assets22/27€21k€22k▲
Plant, machinery and equipment23€9k€5k▼
Furniture and vehicles24€11k€17k▲
Other tangible fixed assets26€555-
Current assets29/58€104k€81k▼
Stocks and contracts in progress3€34k€31k▼
Stocks30/36€34k€31k▼
Amounts receivable within one year40/41€36k€11k▼
Trade receivables40€23k€10k▼
Other amounts receivable41€13k€714▼
Cash at bank and in hand54/58€30k€36k▲
Deferred charges and accrued income490/1€4k€4k▼
Equity and liabilities
Total equity and liabilities10/49€125k€102k▼
Equity10/15€110k€90k▼
Contributions10/11€19k€19k=
Reserves13€95k€95k=
Tax-exempt reserves132€10k€10k=
Distributable reserves133€85k€85k=
Profit (loss) carried forward14€-4k€-23k▼
Amounts payable17/49€15k€12k▼
Amounts payable within one year42/48€15k€12k▼
Trade debts44€3k€2k▼
Suppliers440/4€3k€2k▼
Taxes, remuneration and social security45-€163
Taxes450/3-€163
Other amounts payable47/48€12k€10k▼
Accrued charges and deferred income492/3€0-
Income statement
Code20242025
Non-recurring operating income76A-€4k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€13k€14k▲
Other operating charges640/8€735€671▼
Gross operating margin9900€7k€-4k▼
Operating profit (loss)9901€-6k€-19k▼
Financial income75/76B€17-
Recurring financial income75€17-
Financial charges65/66B€252€170▼
Recurring financial charges65€252€170▼
Profit (loss) for the period before taxes9903€-6k€-20k▼
Profit (loss) for the period9904€-6k€-20k▼
Profit (loss) for the period to be appropriated9905€-6k€-20k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-4k€-23k▼
Profit (loss) brought forward from the previous period14P€3k€-4k▼
The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
20-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 20 days late
2025
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
29-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 60 days late
2022
31-12
Financial
Highest result since 2018net €34k ▲23.2%
Operating result €47k, net result €34k, both a record.
31-12
Financial
Equity above €100kEq €118k ▲41.1%
3 profitable years in a row build equity to €118k.
25-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 25 days late
2021
13-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 13 days late
2020
31-12
Financial
Back to profitnet €619
Net result €619 after one loss-making year.
24-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 55 days late
2019
31-12
Financial
Weakest financial yearnet €-42k ▼330%
Net result drops to €-42k, the lowest in the series; recovery starts the following year.
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 28 days late
2018
29-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 29 days late
2017
11-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 act for this company is in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Saint-Nicolas · 1 establishment unit since 2002
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Rue Ferdinand Nicolay 3434420 Saint-NicolasGround area
72 m²
Building footprint
51 m²
Volume, LiDAR
432 m³
Parcel 62093B0137/00M000, Wallonia · tallest building 9.5 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Rue Ferdinand Nicolay 343, 4420 Saint-Nicolas
since 20022.098.734.065
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62093B0137/00M000 | Wallonia | 72 m² | 1 · 51 m² | 9.5 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
VALKENEERS DIRK
BE 0442.566.359
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LAMY-VANDERBIEST
BE 0887.330.066
Leuven · Eq €90k
BTS-VM
BE 0798.719.972
Saint-Nicolas · Eq €90k
TOITURE LEBAILLY
BE 0778.264.652
Jemeppe-sur-Sambre · Eq €90k
Dakwerken Vanloock
BE 0629.961.154
Huldenberg · Eq €90k
Of 8,563 companies in sector 43410 we hold annual accounts for 4,355. 3,797 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded03-12-2001
Fiscal year end31-12
Activities, NACEBEL
43410Roofing work
01410Raising of dairy cattle
42911Civil engineering
43120Site preparation
43230Insulation installation
43291Specialised construction activities
45112
46180Agents specialised in the wholesale of other particular products
51180
81300Landscape service activities
Sources
Crossroads Bank for EnterprisesNational Bank · 24 filingsAddress and cadastre registers
Data from official sources, last processed on 20-09-2026. Scores and ratios are computed by Checked and are not a credit decision.