Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Negative equity NBB
More debt than assets in 4 of the last 4 fiscal years.
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Tight liquidity NBB
Cash and receivables cover 45 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
BOULANGERIE - PATISSERIE MICHEL from Honnelles, company number BE0433093815, closed financial year 2025 with a result of € -10,917 after tax. For that financial year BOULANGERIE - PATISSERIE MICHEL recorded a gross margin of € 30,119 and equity of € -177,414. Compared with financial year 2024, the result moved from € 8,823 to € -10,917. 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 December 31, 2025.
€ -177,414
▼ € 10,917 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -10,917
▼ still € 8,823 profit in 2024
Profit after tax over the fiscal year.
Loss, nothing to pay out
Reserves fell to € -538,077.
People and assets in 2025
0.5
Average over the fiscal year, from the social balance sheet.
€ 12,430
▲ 235% 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.
€ 252
▼ 52% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 17,716
▲ 43% vs 2024
Loans from banks and other lenders, long and short.
€ 51,346
▲ 9% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 5,148
▼ 20% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 96,094 | - | - | - | |
| Gross margin | € 18,006 | € 11,481 | € 39,411 | € 30,119 | ▼ 24% |
| Profit after taxes | € -52,751 | € -21,929 | € 8,823 | € -10,917 | ▼ € 19,740 |
| Equity | € -153,391 | € -175,320 | € -166,497 | € -177,414 | ▼ € 10,917 |
| Total debts | € 400,035 | € 327,351 | € 292,724 | € 288,621 | ▼ 1% |
| Land & buildings | € 89,607 | € 74,673 | € 59,738 | € 44,804 | ▼ 25% |
| Retained profit | € -514,054 | € -535,983 | € -527,160 | € -538,077 | ▼ € 10,917 |
| Bank debt | € 18,400 | € 18,825 | € 12,377 | € 17,716 | ▲ 43% |
| Balance sheet total | € 246,644 | € 152,031 | € 126,228 | € 111,207 | ▼ 12% |
| Employees (FTE) | - | - | - | 0.5 |
Key figures of BOULANGERIE - PATISSERIE MICHEL, 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 BOULANGERIE - PATISSERIE MICHEL?
What happened at BOULANGERIE - PATISSERIE MICHEL in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 10,917 (▼ € 19,740 vs 2024). Source: NBB ↗
- New establishment in Honnelles. KBO
- Start of the company according to the CBE. KBO
In short
From € 52,751 loss in 2022 to € 10,917 loss in 2025.
Paid € 306 in corporate taxes since 2022.
Best year ever: 2024, with € 8,823 profit.
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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
Behind BOULANGERIE - PATISSERIE MICHEL are NATHALIE PORTIER and MICHEL D'HONDT. The same people are also behind D'HONDT COMMANDITE.
Directors
According to the 2025 annual accounts
Establishments
Establishment units
Physical locations of this company
Avenue du Haut-Pays (HON) 79
7387 Honnelles
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 1 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
- 0433.093.815
- VAT number
- BE 0433.093.815
- Registered office
- Avenue du Haut-Pays (HON) 79, 7387 Honnelles
- Names & denominations
- BOULANGERIE - PATISSERIE MICHEL · St Erlouf
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 1 January 1988
- Peppol
- Active · Active since 26 Dec 2025
- Activities · NACE
Ambachtelijke vervaardiging van brood en van vers banketbakkerswerk
Artisanale brood- en banketbakkerijen
Activiteiten van eetgelegenheden met volledige bediening
Eetgelegenheden met volledige bediening