Timon Michiels Catering
ActiveThe computed 12-month bankruptcy probability of Timon Michiels Catering is 4.0% (elevated). The 2025 annual accounts show equity of €30 and a net result of €-15k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 25% of 12499 sector peers (fiscal year 2025). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
7
/ 100
Critical▼ -69 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0▼-100
Solvency10▼-12
Growth32=
Stability94
Bankruptcy probability, 12 months
4.0%
Elevated
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.93 against 1.4 in 2024), and 100% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
+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 56
Relative position
BE, all sectors
reference
Sector 56
higher
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
0%
Return on assets
-3.2%
Age of the figures
8 mo
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 16-07-2026, 15 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
15 d early
2024
5 d early
2023
7 d early
2022
7 d early
2021
9 d early
← 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
06-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€30▼ 99.8%
2024 · €15k
2021: €20k
2022: €-536
2023: €3k
2024: €15k
2021 → 2025
Total assets
€476k▲ 0.4%
2024 · €474k
2021: €41k
2022: €26k
2023: €26k
2024: €474k
2021 → 2025
Net result
€-15k
2024 · €12k
2021: €18k
2022: €-21k
2023: €4k
2024: €12k
2021 → 2025
Working capital
€-3k
2024 · €13k
2021: €18k
2022: €-4k
2023: €-219
2024: €13k
2021 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€20k-€-536€3k€15k▲ 352%€30▼ 99.8%
Operating result€23k-€-20k€4k€20k▲ 349%€9k▼ 51.6%
Net result€18k-€-21k€4k€12k▲ 203%€-15k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 52% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €476k
Fixed assets
€428k▲ 0.4%
Current assets
€48k▲ 0.5%
Equity and liabilities €476k
Equity
€30▼ 99.8%
Debt
€476k▲ 3.7%
The debt ratio rises from 96.8% to 100.0%: debt grows while equity shrinks.
Key figures and ratios
EBITDA
€11k▼
2024 · €21k
Cash flow
€-14k▼
2024 · €13k
Solvency
0.0%▼
2024 · 3.2%
Current ratio
0.93▼
2024 · 1.40
Quick ratio
0.93▼
2024 · 1.40
Debt / equity
15810.87▲
2024 · 30.53
ROE
-49860.1%▼
2024 · 77.9%
ROA
-3.2%▼
2024 · 2.5%
Interest coverage
0.56▼
2024 · 37.98
Debt
€476k▲
2024 · €459k
Debt ≤ 1 year
€51k▲
2024 · €34k
Debt > 1 year
€425k=
2024 · €425k
Income taxes
€5k▼
2024 · €7k
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
Total assets
20/58€474k€476k▲
Fixed assets
21/28€427k€428k▲
Intangible fixed assets
21-€2k
Tangible fixed assets
22/27€2k€2k▼
Financial fixed assets
28€425k€425k=
Current assets
29/58€47k€48k▲
Amounts receivable within one year
40/41€15k€37k▲
Cash & bank
54/58€30k€9k▼
Total equity & liabilities
10/49€474k€476k▲
Equity
10/15€15k€30▼
Contributions / capital
10/11€3k€3k=
Reserves
13€18k€18k=
Accumulated profits (losses)
14€-5k€-20k▼
Amounts payable
17/49€459k€476k▲
Amounts payable after one year
17€425k€425k=
Amounts payable within one year
42/48€34k€51k▲
Trade debts payable within one year
44€10k€35k▲
Income statement
Code20242025
Gross operating margin
9900€22k€12k▼
Operating result
9901€20k€9k▼
Financial income
75€17€174▲
Financial charges
65€543€20k▲
Result before taxes
9903€19k€-10k▼
Income taxes
67/77€7k€5k▼
Net result for the period
9904€12k€-15k▼
Result to be appropriated
9905€12k€-15k▼
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
26-08
State Gazette act
Publication
Act object · General meeting · Officer resignation · Permanent representative
16-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
26-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
24-09
State Gazette act
Registered-office change
24-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €4k
Net result €4k after one loss-making year.
24-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet €-21k ▼217%
Net result drops to €-21k, the lowest in the series; recovery starts the following year.
22-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
2 of 2 acts read
Directors · office · real estate
Comparable companies · same sector, comparable size
Similar companies · same sector, comparable size
WINE DINE & 69
BE 0652.778.821
Diest · Eq €39
VICES & VERSEAUX
BE 0694.981.937
Court-Saint-Etienne · Eq €51
SAKBE
BE 0779.260.386
Zaventem · Eq €67
Cristina’s Kitchen
BE 0782.851.366
Mechelen · Eq €69
Deruyter Concepts
BE 0802.704.989
Edegem · Eq €101
Of 7,479 companies in sector 56210 we hold annual accounts for 2,337. 16 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded09-10-2020
Fiscal year end31-12
Activities, NACEBEL
56210Event catering
Sources
Crossroads Bank for EnterprisesBelgian Official Gazette · 2 actsNational Bank · 5 filingsAddress and cadastre registers
Data from official sources, last processed on 22-07-2026. Scores and ratios are computed by Checked and are not a credit decision.