Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Negative equity NBB
More debt than assets in 4 of the last 4 fiscal years.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 53 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
MICHEL BAES from Stekene, company number BE0413970759, closed financial year 2025 with a result of € -41,564 after tax. For that financial year MICHEL BAES recorded a gross margin of € 212,568 and equity of € -313,783. Compared with financial year 2024, the result moved from € -39,341 to € -41,564. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on October 25, 2026.
€ -313,783
▼ € 41,564 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -41,564
▼ 6 % more loss than in 2024
Profit after tax over the fiscal year.
€ 3,005
▼ 49% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -375,783.
People and assets in 2025
€ 154,426
▲ 14% vs 2024
Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 260
▼ 44% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 493,976
▲ 7% vs 2024
Loans from banks and other lenders, long and short.
€ 159,073
▲ 5% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 58,479
▲ 39% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 128,422 | € 85,925 | € 123,450 | € 212,568 | ▲ 72% |
| Profit after taxes | € -42,148 | € -38,874 | € -39,341 | € -41,564 | ▼ € 2,223 |
| Equity | € -194,004 | € -232,878 | € -272,219 | € -313,783 | ▼ € 41,564 |
| Total debts | € 764,654 | € 789,969 | € 856,191 | € 920,131 | ▲ 7% |
| Cash | € 4,960 | € 6,894 | € 5,912 | € 3,005 | ▼ 49% |
| Land & buildings | € 12,000 | € 10,500 | € 20,764 | € 20,255 | ▼ 2% |
| Retained profit | € -256,004 | € -294,878 | € -334,219 | € -375,783 | ▼ € 41,564 |
| Bank debt | € 130,518 | € 431,092 | € 461,819 | € 493,976 | ▲ 7% |
| Balance sheet total | € 570,650 | € 557,091 | € 583,972 | € 606,348 | ▲ 4% |
| Employees (FTE) | 2.8 | 2.7 | - | - |
Key figures of MICHEL BAES, 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 MICHEL BAES?
What happened at MICHEL BAES in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 41,564. filed late Source: NBB ↗
- New establishment in Stekene. KBO
- Start of the company according to the CBE. KBO
In short
From € 42,148 loss in 2022 to € 41,564 loss in 2025.
Paid € 5,160 in corporate taxes since 2022.
On average € 31,800 of value added per employee in 2023.
Establishments
Establishment units
Physical locations of this company
Koewacht(STE) 92 box A
9190 Stekene
Koewacht(STE) 92A
9190 Stekene
Active since 1 February 1974
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0413.970.759
- VAT number
- BE 0413.970.759
- Registered office
- Koewacht(STE) 92 bus A, 9190 Stekene
- Names & denominations
- MICHEL BAES
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 1 February 1974
- Peppol
- Active · Active since 10 Nov 2025
- Activities · NACE
Overig loodgieterswerk
Sanitaire werkzaamheden