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 27.5 to 22.4.
Financials
Financial year 2025
MICHEL LOGISTICS from La Louvière, company number BE0473001593, closed financial year 2025 with a result of € 303,426 after tax. For that financial year MICHEL LOGISTICS recorded a gross margin of € 2.1 million and equity of € 1.9 million. Compared with financial year 2024, the result moved from € 36,610 to € 303,426. 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 August 31, 2026.
€ 1.9 million
▲ 17% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 303,426
▲ € 266,816 vs 2024
Profit after tax over the fiscal year.
€ 142,262
▲ € 107,117 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 € 1.7 million.
People and assets in 2025
22.4
▼ 1.2 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 1.2 million
▲ 10% vs 2024
€ 53,600 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.
€ 129,262
▲ € 99,662 vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 738,787
▲ 21% vs 2024
€ 43,138 is repaid this year. At this pace the long-term loan is gone in ≈ 5 years.
€ 395,083
▲ 5% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 200,692
▲ 39% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 1,747,182 | € 1,813,069 | € 1,603,417 | € 2,116,401 | ▲ 32% |
| Profit after taxes | € 89,206 | € 24,292 | € 36,610 | € 303,426 | ▲ € 266,816 |
| Equity | € 1,671,553 | € 1,661,701 | € 1,669,760 | € 1,945,965 | ▲ 17% |
| Total debts | € 1,597,021 | € 1,202,193 | € 1,145,009 | € 1,344,012 | ▲ 17% |
| Cash | € 81,664 | € 57,502 | € 35,145 | € 142,262 | ▲ € 107,117 |
| Land & buildings | € 1,945,492 | € 1,684,506 | € 1,487,793 | € 1,272,023 | ▼ 15% |
| Retained profit | € 1,351,526 | € 1,375,818 | € 1,412,428 | € 1,715,855 | ▲ 21% |
| Bank debt | € 895,804 | € 639,731 | € 608,526 | € 738,787 | ▲ 21% |
| Balance sheet total | € 3,294,688 | € 2,890,008 | € 2,840,884 | € 3,316,091 | ▲ 17% |
| Employees (FTE) | 27.4 | 27.5 | 23.6 | 22.4 | ▼ 1.2 |
Key figures of MICHEL LOGISTICS, 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 LOGISTICS?
What happened at MICHEL LOGISTICS in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Cendrine MICHEL stepped down as director. NBB
- Béatrice VAEREMANS stepped down as director. NBB
- Valery MICHEL stepped down as director. NBB
- MICHEL MANAGEMENT stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 303,426 (▲ € 266,816 vs 2024). filed late Source: NBB ↗
- Cendrine MICHEL became a director. NBB
- Béatrice VAEREMANS became a director. NBB
- Valery MICHEL became a director. NBB
In short
From € 89,206 profit in 2022 to € 303,426 profit in 2025.
Paid € 95,039 in corporate taxes since 2022.
Best year ever: 2025, with € 303,426 profit.
On average € 94,500 of value added per employee in 2025.
Management
The stake of Transports Fernand Michel comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
MICHEL LOGISTICSThe shares are held by Transports Fernand Michel (33.4%).
Directors
According to the 2025 annual accounts
Cendrine MICHEL
Director
since 2023 · until 2029
since 2023 · until 2029
Valery MICHEL
Director
Holds a stake via Transports Fernand Michel
Also active at: Transports Fernand Michel
since 2023 · until 2029
Managing director · represented by Didier MICHEL
Also active at: Transports Fernand Michel
since 2023 · until 2029
Shareholders
Transports Fernand Michel · holding of Valery MICHEL
33.4%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Rue Cronos(H-G) 1
7110 La Louvière
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 7 companies are registered at this address.
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€ 451,704 gross margin · 2025
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What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0473.001.593
- VAT number
- BE 0473.001.593
- Registered office
- Rue Cronos(H-G) 1, 7110 La Louvière
- Names & denominations
- MICHEL LOGISTICS
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 10 October 2000
- Peppol
- Active · Active since 20 Nov 2020
- Activities · NACE
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