Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Shrinking team NBB
FTE fell two years in a row, from 67.3 to 60.1.
Financials
Financial year 2025
MICHELIN BELUX from Asse, company number BE0400906146, closed financial year 2025 with a result of € 5.9 million after tax. For that financial year MICHELIN BELUX recorded revenue of € 245.3 million and equity of € 6.9 million. Compared with financial year 2024, the result moved from € 5.7 million to € 5.9 million. Profitable, and profit is growing. The company holds a healthy buffer. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on June 3, 2026.
€ 6.9 million
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 5.9 million
▲ 4% vs 2024
Profit after tax over the fiscal year.
€ 5.9 million paid out
100 % of the profit went to the shareholders, the rest stayed in the company.
People and assets in 2025
60.1
▼ 2.3 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 9.6 million
▲ 9% vs 2024
€ 159,600 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 2,658
▼ 61% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 882,872
▼ 44% vs 2024
Loans from banks and other lenders, long and short.
€ 65.3 million
▲ 3% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 101 days on average.
€ 4.1 million
▲ 14% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 319,119,544 | € 332,314,380 | € 254,489,431 | € 245,318,269 | ▼ 4% |
| Profit after taxes | € 4,587,880 | € 7,248,615 | € 5,680,433 | € 5,882,288 | ▲ 4% |
| Equity | € 6,860,371 | € 6,908,986 | € 6,889,418 | € 6,871,706 | |
| Total debts | € 104,025,481 | € 86,332,865 | € 76,961,780 | € 80,400,144 | ▲ 4% |
| Cash | € 5,484,167 | € 6,175,982 | - | - | |
| Retained profit | € 660,371 | € 708,986 | € 689,418 | € 671,706 | ▼ 3% |
| Dividend | € 4,600,000 | € 7,200,000 | € 5,700,000 | € 5,900,000 | ▲ 4% |
| Bank debt | € 0 | € 0 | € 1,578,963 | € 882,872 | ▼ 44% |
| Balance sheet total | € 111,275,908 | € 94,373,022 | € 84,065,716 | € 87,437,881 | ▲ 4% |
| Employees (FTE) | 71.6 | 67.3 | 62.4 | 60.1 | ▼ 2.3 |
Key figures of MICHELIN BELUX, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to MICHELIN BELUX?
What happened at MICHELIN BELUX in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Leslie HELSEN stepped down as director. NBB
- Gert-Jan VERHOEVE stepped down as director. NBB
- Jean-Charles CAMBIER stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 5.9 million (▲ 4% vs 2024). Source: NBB ↗
- Raquel Rebeca NIETO stepped down as director. NBB
- Raquel Rebeca NIETO became a director. NBB
- Leslie HELSEN became a director. NBB
- Gert-Jan VERHOEVE became a director. NBB
In short
From € 4.6 million profit in 2022 to € 5.9 million profit in 2025.
Paid € 8.6 million in corporate taxes since 2022.
Best year ever: 2023, with € 7.2 million profit.
Paid out € 23.4 million in dividends to the owners in total.
Management
It owns 100% of Eurowheel and 100% of Industrial International Tire Company itself.
Directors
According to the 2025 annual accounts
Raquel Rebeca NIETO
Director
since 2024 · until 2025
since 2024 · until 2030
Gert-Jan VERHOEVE
Chairman of the board
since 2024 · until 2030
since 2024 · until 2030
Establishments
Establishment units
Physical locations of this company
Brusselsesteenweg 494 box 1
1731 Asse
Kunstlaan 3-4-5
1210 Sint-Joost-ten-Node
Active since 1 October 2002
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 2 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0400.906.146
- VAT number
- BE 0400.906.146
- Registered office
- Brusselsesteenweg 494 bus 1, 1731 Asse
- Names & denominations
- MICHELIN BELUX · MBSA
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 20 December 1913
- Peppol
- Active · Active since 23 Dec 2025
- Contact
- 02/274.42.11
- Activities · NACE
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Vervaardiging en loopvlakvernieuwing van rubberbanden en vervaardiging van binnenbanden
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Handelsbemiddeling in de groothandel in andere specifieke goederen
Groothandel in andere consumentenartikelen, neg
Handelsbemiddeling gespecialiseerd in overige goederen, n.e.g.
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