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MIDAN

Active
Public limited companyfounded 198838 yrs activeKoestraat 175A, 8800 Roeselare, BelgiumKBO/BCE: BE 0435.485.656
Summary

MIDAN has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €164,341 and a net result of €4,500. Equity is shrinking by ~14.8% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2026. Its solvency ranks better than 72% of 5338 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).

Risk analysisWatch ReportCompare
MIDANActiveChecked score 71/100
Risk analysis ReportCompare

Overview

Activity
Buying and selling of own real estate
NACE 68110NACE 68100
1 site
Size
€167,218total assets 2024
Equity
€164,341
Profit
€4,500
Turnover not published (abridged schema)
Financial health
71 Healthy Checked score 2024
Bankruptcy chance 12 m
0.6%
Structure
Parent
Mare Nostra · 99.94%
Accounts 45 d early0 of 16 deeds read
Why 71- Figures for FY 2024 (filed 23-06-2025)- Liquidity: current ratio 6.53, cash €3,252, halved- Size: total assets €167,218+ Founded in 1988Show the evidence

Checked score

Score 2024
71 / 100
Healthy
Probability in this band: 0.55% to 1.5%
Better than 61% of its sector peers (NACE 68, micro)
Performance against the sector, not lower risk
Every signal that weighs is under Signals.
Financial strength · tick = 2023
Strong
Solvency 100+26
equity 98.3% of total assets
Liquidity 52+19
short-term debt 1.7% · cash 1.9%
Profitability 44-52
return on assets 2.7%
Bankruptcy probability, 12 months
0.6% Low
0%0.5%1.5%4%10%≥ 25%

About 6 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.3% (26,362 companies)
Last 24 months 11-2024: 0.4% 12-2024: 0.4%● 0.0% vs 11-2024 01-2025: 0.4%● 0.0% vs 12-2024 02-2025: 0.1%▼ -71.5% vs 01-2025lowest value 03-2025: 0.1%● 0.0% vs 02-2025lowest value 04-2025: 0.1%▲ +6.9% vs 03-2025 05-2025: 0.1%▲ +2.8% vs 04-2025 06-2025: 0.1%▲ +12.5% vs 05-2025 07-2025: 0.1%▼ -17.5% vs 06-2025 08-2025: 0.1%● 0.0% vs 07-2025 09-2025: 0.1%● 0.0% vs 08-2025 10-2025: 0.1%● 0.0% vs 09-2025 11-2025: 0.1%● 0.0% vs 10-2025 12-2025: 0.1%● 0.0% vs 11-2025 01-2026: 0.1%▼ -1.0% vs 12-2025 02-2026: 0.1%● 0.0% vs 01-2026 03-2026: 0.1%● 0.0% vs 02-2026 04-2026: 0.1%▲ +7.8% vs 03-2026 05-2026: 0.1%▲ +6.3% vs 04-2026 06-2026: 0.1%▲ +12.7% vs 05-2026 07-2026: 0.2%▲ +15.0% vs 06-2026 08-2026: 0.3%▲ +86.9% vs 07-2026 09-2026: 0.4%▲ +29.4% vs 08-2026 10-2026: 0.6%▲ +69.7% vs 09-2026highest value
  • Figures for FY 2024 (filed 23-06-2025) raises the probability
  • Founded in 1988 lowers the probability for this profile
  • Liquidity: current ratio 6.53, cash €3,252, halved raises the probability
  • Size: total assets €167,218 raises the probability for this profile
Credit up to €11,000 at 30 days acceptable
Liquidity ample (current ratio 6.53 against 0.23 in 2023; short-term debt: 1.7% and cash: 1.9% of total assets), and 1.7% of the assets are financed with debt.
How it is calculated

The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 68, micro). Better than this share of them on solvency 91%, liquidity 60%, profitability 39%, growth against the median 54%. That is performance, not lower risk; the band itself always comes from the probability.

Bankruptcy probability: model pd-v3.202610021621, computed on 03-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.

Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.

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Signals

Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Figures for FY 2024 (filed 23-06-2025)
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
lowers risk · Founded in 1988
In the bankruptcy model this factor lowers the probability for this profile.
KBO
raises risk · Liquidity: current ratio 6.53, cash €3,252, halved
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
raises risk · Size: total assets €167,218
In the bankruptcy model this factor raises the probability for this profile.
NBB · annual accounts
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 16-06-2026, 45 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
45 d early
2024
48 d early
2023
51 d early
2022
25 d early
2021
31 d early
2020
37 d early
2019
88 d late
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 21 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.

Checked, nothing found (2)
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. Usually files around 16 June (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Position in the running window
03-10-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage
  1. Annual accounts filedfiscal year 2025 · full…
  2. Annual accounts filedfiscal year 2024 · abbreviated…
  3. Liquidity times 29current ratio 6.53

Key points

  • Caution: Result fell in 2024from €75,888 to €4,500 ▼ 94.1% View
  • Controlled by Mare Nostraultimately: POC Partners 99.94% View
  • Positive: Always filed on timeaccounts within the deadline every year 6 years View

By topic

Financials

Fiscal year
2024
Total assets
€167,218
Profit
€4,500
Solvency
98.3%
Total assets▼ 48.6%
Net result
20182024
Go to Financials

Timeline

Events
13
Since
2017
Next accounts
by 31-07-2027
  1. 16-06-2026Annual accounts filed
  2. 13-06-2025Annual accounts filed
  3. 31-12-2024Liquidity times 29
Go to Timeline

Company details

Sites
1
Legal form
Public limited company
Activity
Buying and selling of own real estateNACE 68110
Founded
29-09-1988
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

Go further with this company

How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check Which other companies belong to the same group?POC Partners · 16 companies How does this company compare with its sector?Sector benchmark

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