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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Tight liquidity NBB
Cash and receivables cover 34 % of short-term debt in 2025; threshold 65 %.
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Busy address KBO
17 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
MIDELCO from Kortrijk, company number BE0430555581, closed financial year 2025 with a result of € 51.5 million after tax. For that financial year MIDELCO recorded revenue of € 1.2 million and equity of € 238.3 million. Compared with financial year 2024, the result moved from € 21.2 million to € 51.5 million. Profitable, and profit is growing. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on December 15, 2025.
€ 238.3 million
▲ 28% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 51.5 million
▲ 143% vs 2024
Profit after tax over the fiscal year.
€ 2.2 million
▲ € 2.1 million vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 236.8 million.
People and assets in 2025
1.5
Average over the fiscal year, from the social balance sheet.
€ 108,696
▲ 3% vs 2024
€ 72,500 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.
€ 40,599
▼ 29% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 74 million
▲ 18% vs 2024
Loans from banks and other lenders, long and short.
€ 16,556
▼ 59% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 11 days on average.
€ 187,962
▲ € 150,648 vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 768,597 | € 875,238 | € 877,023 | € 1,216,458 | ▲ 39% |
| Profit after taxes | € 5,299,807 | € 12,221,101 | € 21,184,498 | € 51,530,386 | ▲ 143% |
| Equity | € 153,336,556 | € 165,557,658 | € 186,742,156 | € 238,272,542 | ▲ 28% |
| Total debts | € 94,251,888 | € 98,489,827 | € 106,587,654 | € 131,722,052 | ▲ 24% |
| Cash | € 7,553,547 | € 1,817,150 | € 100,515 | € 2,186,925 | ▲ € 2.1 million |
| Land & buildings | € 646,812 | € 602,266 | € 737,931 | € 780,996 | ▲ 6% |
| Retained profit | € 151,836,556 | € 164,057,658 | € 185,242,156 | € 236,772,542 | ▲ 28% |
| Bank debt | € 67,800,000 | € 59,800,000 | € 62,800,000 | € 74,000,000 | ▲ 18% |
| Balance sheet total | € 247,614,637 | € 264,067,594 | € 293,343,835 | € 370,002,536 | ▲ 26% |
| Employees (FTE) | 1.5 | 1.5 | 1.5 | 1.5 |
Key figures of MIDELCO, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 30 January 2027.
What happened to MIDELCO?
What happened at MIDELCO in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Patricia VLERICK - BOUCKAERT stepped down as director. NBB
- Barbara VLERICK stepped down as director. NBB
- Philippe VLERICK stepped down as director. NBB
- Michäel VLERICK stepped down as director. NBB
- David VLERICK stepped down as director. NBB
- Elisa VLERICK stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 51.5 million (▲ 143% vs 2024). Source: NBB ↗
- ARLIMA stepped down as director. NBB
In short
From € 5.3 million profit in 2022 to € 51.5 million profit in 2025.
Paid € 1,383 in corporate taxes since 2022.
Best year ever: 2025, with € 51.5 million profit.
Pays suppliers within 11 days on average.
A new publication or filing at MIDELCO? We notify you, reason included.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
It owns 100% of BARELDAM SA, 90% of VLERIBELL , 87.5% of SECONDARIES OPPORTUNITY FUND , 74% of VOBIS FINANCE, 53.5% of BIC CARPETS and 52% of NEW RHEIN HEALTHCARE 2021 PRIVAK itself.
Directors
According to the 2025 annual accounts
since 2023 · until 2025
since 2024 · until 2030
Barbara VLERICK
Director
since 2024 · until 2030
Director · represented by Willem Dejonghe
Also active at: RECTICEL, ORSI ACADEMY, WESTVLEES GROUP, MARIGOLD Developments, STRACO RE, STRACO PE, STRACO INVESTMENTS, Hazel Topco
since 2022 · until 2025
Philippe VLERICK
Managing director
Also active at: BESIX Group, LVD COMPANY, Cecan, POINT, BELGIAN INTERNATIONAL CARPET C°, VOBIS FINANCE, LVD - INVEST, VLERICK VASTGOED +8 more
since 2024 · until 2030
Michäel VLERICK
Director
since 2024 · until 2030
David VLERICK
Director
Also active at: Cecan, POINT, BELGIAN INTERNATIONAL CARPET C°, 9.5 MAGNITUDE VENTURES, Alydar, Bluegrass Ventures USD
since 2024 · until 2030
since 2024 · until 2030
Establishments
Establishment units
Physical locations of this company
Doorniksewijk(Kor) 49
8500 Kortrijk
Martelaarsplein 15
1000 Brussel
Active since 26 March 1987
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 17 companies are registered at this address.
All companies at this address →B.M.H. same network
Belgo-Indian Chamber of Commerce and Industry
Cecan same network
€ -838,803 gross margin · 2025
VOBIS FINANCE same network
VLERICK VASTGOED same network
€ 958,865 gross margin · 2025
+12 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0430.555.581
- VAT number
- BE 0430.555.581
- Registered office
- Doorniksewijk(Kor) 49, 8500 Kortrijk
- Names & denominations
- MIDELCO
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 25 February 1987
- Peppol
- Active · Active since 20 Nov 2020
- Activities · NACE
Activiteiten van holdings
Managementactiviteiten van holdings
Holdings
Overige adviesbureaus op het gebied van bedrijfsbeheer; adviesbureaus op het gebied van bedrijfsvoering
Activiteiten van adviesbureaus op het gebied van bedrijfsvoering en overig managementadvies