MICHTHER
Open bankruptcyA bankruptcy procedure is open for MICHTHER according to publications in the Belgian State Gazette; curator: JONAH DEKEYZER.
Summary
The 2023 annual accounts show equity of €228k and a net result of €34k.
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2023 was due by 31-07-2024 and was filed on 29-08-2024, 29 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 · 4 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
29 d late
2022
32 d late
2021
30 d early
2020
11 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2023, abbreviated schema
Equity
€228k▲ 17.7%
2022 · €194k
2020: €92k
2021: €153k
2022: €194k
2020 → 2023
Total assets
€360k▲ 1.7%
2022 · €354k
2020: €345k
2021: €343k
2022: €354k
2020 → 2023
Net result
€34k▼ 16.1%
2022 · €41k
2020: €67k
2021: €61k
2022: €41k
2020 → 2023
Working capital
€-64k▼ 2.0%
2022 · €-63k
2020: €-61k
2021: €-66k
2022: €-63k
2020 → 2023
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2020202120222023Trend
Equity€92k-€153k▲ 65.7%€194k▲ 26.8%€228k▲ 17.7%
Operating result€45k-€46k▲ 2.8%€52k▲ 12.5%€48k▼ 7.0%
Net result€67k-€61k▼ 8.7%€41k▼ 33.3%€34k▼ 16.1%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2023; 2023 is 7% below 2022.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €360k
Fixed assets
€340k ▼ 1.1%
Current assets
€20k ▲ 96.9%
Equity and liabilities €360k
Equity
€228k ▲ 17.7%
Debt
€131k ▼ 17.7%
Debt's share of the balance-sheet total falls from 45.2% to 36.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€52k▼
2022 · €55k
Cash flow
€38k▼
2022 · €45k
Current ratio
0.24▲
2022 · 0.14
Debt to equity
0.58▼
2022 · 0.82
ROE
15.1%▼
2022 · 21.1%
ROA
9.6%▼
2022 · 11.6%
Interest coverage
12.29▼
2022 · 13.51
Debt ≤ 1 year
€84k▲
2022 · €73k
Debt > 1 year
€47k▼
2022 · €87k
Income taxes
€10k▲
2022 · €7k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2023 against 2022 · 44 lines
Balance sheet
Code20222023
Assets
Total assets20/58€354k€360k▲
Fixed assets21/28€343k€340k▼
Tangible fixed assets22/27€11k€8k▼
Leasing and similar rights25€11k€8k▼
Financial fixed assets28€332k€332k=
Current assets29/58€10k€20k▲
Amounts receivable within one year40/41€2k€20k▲
Trade receivables40-€8k
Other amounts receivable41€2k€13k▲
Cash at bank and in hand54/58€8k€2▼
Equity and liabilities
Total equity and liabilities10/49€354k€360k▲
Equity10/15€194k€228k▲
Contributions10/11€25k€25k=
Reserves13€169k€203k▲
Distributable reserves133€169k€203k▲
Profit (loss) carried forward14€0-
Amounts payable17/49€160k€131k▼
Amounts payable after more than one year17€87k€47k▼
Financial debts170/4€87k€47k▼
Amounts payable within one year42/48€73k€84k▲
Current portion of amounts payable after more than one year42€39k€39k▲
Trade debts44€1k€3k▲
Suppliers440/4€1k€3k▲
Taxes, remuneration and social security45€23k€32k▲
Taxes450/3€23k€32k▲
Other amounts payable47/48€9k€9k▲
Income statement
Code20222023
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€4k€4k=
Other operating charges640/8€0€2k▲
Gross operating margin9900€55k€54k▼
Operating profit (loss)9901€52k€48k▼
Financial income75/76B€0€312▲
Recurring financial income75€0€312▲
Financial charges65/66B€4k€4k▲
Recurring financial charges65€4k€4k▲
Profit (loss) for the period before taxes9903€48k€44k▼
Income taxes67/77€7k€10k▲
Profit (loss) for the period9904€41k€34k▼
Profit (loss) for the period to be appropriated9905€41k€34k▼
Appropriation of the result
Profit (loss) to be appropriated9906€41k€34k▼
Transfer to equity691/2€41k€34k▼
To other reserves6921€41k€34k▼
Profit to be distributed694/7€0-
Return on contributions (dividend)694€0-
Social balance
Average headcount (FTE)90870.0-
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2026
21-09
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Kortrijk · MICHTHER BV IZEGEMSE- STRAAT 10, 8500 KORTRIJK · event 15-09-2026
2024
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 29 days late
2023
31-12
Financial
Weakest financial yearnet €34k ▼16.1%
Net result drops to €34k, the lowest in the series.
31-12
Financial
Equity above €200kEq €228k ▲17.7%
4 profitable years in a row build equity to €228k.
01-09
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 32 days late
2022
01-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Equity above €150kEq €153k ▲65.7%
2 profitable years in a row build equity to €153k.
20-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
3 acts for this company are 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, Kortrijk · 1 establishment unit since 2019
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.
Izegemsestraat(Kor) 108500 KortrijkGround area
273 m²
Building footprint
108 m²
Volume, LiDAR
561 m³
Parcel 34352A0119/00P005, Flanders · tallest building 8.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MICHTHER
since 20192.297.683.045
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34352A0119/00P005 | Flanders | 273 m² | 1 · 108 m² | 8.7 m · 2 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.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | JONAH DEKEYZER LOUIS VERWEESTRAAT 2,
8500 KORTRIJK |
15-09-2026 → present |
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Of 82,562 companies in sector 70200 we hold annual accounts for 52,574. 39,300 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded18-12-2019
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
64210Activities of holding companies
73300Public relations and communication consultancy
Sources
Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.