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 2 of the last 4 fiscal years.
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Tight liquidity NBB
Cash and receivables cover 4 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
MICHAUX PIGEONS TRADE & RACING from Couvin, company number BE0508871797, closed financial year 2025 with a result of € 8,313 after tax. For that financial year MICHAUX PIGEONS TRADE & RACING recorded a gross margin of € 36,288 and equity of € -10,611. Compared with financial year 2024, the result moved from € -30,387 to € 8,313. Profitable, and profit is growing. 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 June 27, 2026.
€ -10,611
▲ € 8,313 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 8,313
▲ still € 30,387 loss in 2024
Profit after tax over the fiscal year.
€ 5,400
▲ € 4,775 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 € -16,811.
People and assets in 2025
≈ 1
No payroll staff. One director, so that person most likely runs the business.
€ 10,352
▼ 7% 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.
€ 1,991
▼ 63% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 643
▼ 11% vs 2024
Wages, holiday pay and social contributions still to pay. No outstanding taxes.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 11,518 | € 19,701 | € -1,190 | € 36,288 | ▲ € 37,478 |
| Profit after taxes | € -302 | € 8,024 | € -30,387 | € 8,313 | ▲ € 38,700 |
| Equity | € 32,167 | € 40,191 | € -18,924 | € -10,611 | ▲ € 8,313 |
| Total debts | € 48,266 | € 112,256 | € 148,451 | € 153,483 | ▲ 3% |
| Cash | € 436 | € 2,751 | € 625 | € 5,400 | ▲ € 4,775 |
| Land & buildings | € 22,222 | € 29,424 | € 28,560 | € 25,131 | ▼ 12% |
| Retained profit | € 25,967 | € 33,991 | € -25,124 | € -16,811 | ▲ € 8,313 |
| Dividend | € 0 | € 0 | € 28,728 | € 0 | ▼ 100% |
| Balance sheet total | € 80,433 | € 152,447 | € 129,527 | € 142,872 | ▲ 10% |
Key figures of MICHAUX PIGEONS TRADE & RACING, 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 MICHAUX PIGEONS TRADE & RACING?
What happened at MICHAUX PIGEONS TRADE & RACING in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 8,313. Source: NBB ↗
- New establishment in Couvin. KBO
- Start of the company according to the CBE. KBO
In short
From € 302 loss in 2022 to € 8,313 profit in 2025.
Paid € 526 in corporate taxes since 2022.
Best year ever: 2025, with € 8,313 profit.
Paid out € 28,728 in dividends to the owners in total.
Management
Behind MICHAUX PIGEONS TRADE & RACING is FRANCOIS MICHAUX.
Directors
According to the 2025 annual accounts
FRANCOIS MICHAUX
Manager
Establishments
Establishment units
Physical locations of this company
Rue de Mathysoy, Mar. 3
5660 Couvin
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0508.871.797
- VAT number
- BE 0508.871.797
- Registered office
- Rue de Mathysoy, Mar. 3, 5660 Couvin
- Names & denominations
- MICHAUX PIGEONS TRADE & RACING · M.P.T.R.
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 3 January 2013
- Peppol
- Active · Active since 30 Jun 2025
- Activities · NACE
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