GROUP MSA
ActiveSummary
The computed 12-month bankruptcy probability of GROUP MSA is 3.0% (moderate). The 2025 annual accounts show negative equity (-€42,497) and a net result of -€16,337. The company has been active since 2023 and the Belgian Official Gazette contains no insolvency or warning signals.
Financials · financial year 2025, micro format
Equity
-€42,497▼ 62.9%
2024 · -€26,082
Total assets
€17,085▼ 39.5%
2024 · €28,246
Net result
-€16,337▲ 49.4%
2024 · -€32,282
Working capital
-€57,198▼ 9.7%
2024 · -€52,159
Trend over the years
2024 to 2025, 2 financial years
The operating result stays negative: a loss of €15,885 in 2025 against €32,181 in 2024; the loss shrinks.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result-€15,885
2025
Net result-€16,337
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€17,085
2025
Equity-€42,497
2025
Debt€59,582
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€57,198
2025
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line20242025
Operating result-€32,181--€15,885▲ 50.6%
Net result-€32,282--€16,337▲ 49.4%
Equity-€26,082--€42,497▼ 62.9%
Total assets€28,246-€17,085▼ 39.5%
Debt€54,327-€59,582▲ 9.7%
Working capital-€52,159--€57,198▼ 9.7%
Turnover and EBIT margin not published: the micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €17,085
Fixed assets
€14,701 ▼ 43.6%
Current assets
€2,385 ▲ 10.0%
Equity and liabilities
Equity-€42,497
Debt€59,582
Equity is negative: debt (€59,582) exceeds the balance-sheet total (€17,085).
Key figures and ratios
EBITDA
-€8,009▲
2024 · -€22,697
Cash flow
-€8,461▲
2024 · -€22,797
Solvency
-248.7%▼
2024 · -92.3%
Current ratio
0.04▲
2024 · 0.04
ROA
-95.6%▲
2024 · -114.3%
Interest coverage
-22.04▲
2024 · -226.49
Debt ≤ 1 year
€59,582▲
2024 · €54,327
Income taxes
€94
Staff costs
€200▲
2024 · €95
No debt to equity: equity is negative, so debt divided by equity means nothing.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Remuneration, social security and pensions62 | €95 | €200 | ▲ 110% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,484 | €7,877 | ▼ 17.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €11,320 | - | - |
| Other operating charges640/8 | €785 | €830 | ▲ 5.7% |
| Non-recurring operating charges66A | - | €2,116 | - |
| Gross operating margin9900 | -€10,497 | -€4,863 | ▲ 53.7% |
| Operating profit (loss)9901 | -€32,181 | -€15,885 | ▲ 50.6% |
| Financial income75/76B | - | €5 | - |
| Recurring financial income75 | - | €5 | - |
| Financial charges65/66B | €100 | €363 | ▲ 263% |
| Recurring financial charges65 | €100 | €363 | ▲ 263% |
| Profit (loss) for the period before taxes9903 | -€32,282 | -€16,243 | ▲ 49.7% |
| Income taxes67/77 | - | €94 | - |
| Profit (loss) for the period9904 | -€32,282 | -€16,337 | ▲ 49.4% |
| Profit (loss) for the period to be appropriated9905 | -€32,282 | -€16,337 | ▲ 49.4% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €28,246 | €17,085 | ▼ 39.5% |
| Fixed assets21/28 | €26,077 | €14,701 | ▼ 43.6% |
| Tangible fixed assets22/27 | €26,077 | €14,701 | ▼ 43.6% |
| Plant, machinery and equipment23 | €25,424 | €12,165 | ▼ 52.2% |
| Furniture and vehicles24 | €654 | €2,536 | ▲ 288% |
| Current assets29/58 | €2,168 | €2,385 | ▲ 10.0% |
| Amounts receivable within one year40/41 | €606 | €651 | ▲ 7.6% |
| Trade receivables40 | - | €520 | - |
| Other amounts receivable41 | €606 | €131 | ▼ 78.3% |
| Cash at bank and in hand54/58 | €1,563 | €1,441 | ▼ 7.8% |
| Deferred charges and accrued income490/1 | - | €292 | - |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €28,246 | €17,085 | ▼ 39.5% |
| Equity10/15 | -€26,082 | -€42,497 | ▼ 62.9% |
| Contributions10/11 | €6,200 | €6,200 | = |
| Profit (loss) carried forward14 | -€32,282 | -€48,697 | ▼ 50.9% |
| Amounts payable17/49 | €54,327 | €59,582 | ▲ 9.7% |
| Amounts payable within one year42/48 | €54,327 | €59,582 | ▲ 9.7% |
| Trade debts44 | €27,032 | €1,531 | ▼ 94.3% |
| Suppliers440/4 | €27,032 | €1,531 | ▼ 94.3% |
| Taxes, remuneration and social security45 | €6 | €609 | ▲ 9,815% |
| Taxes450/3 | €6 | €609 | ▲ 9,815% |
| Other amounts payable47/48 | €27,289 | €57,443 | ▲ 111% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | -€32,282 | -€16,337 | ▲ 49.4% |
| + Depreciation and write-downs630 | €9,484 | €7,877 | ▼ 17.0% |
| Operating cash flow (approximation) | -€22,797 | -€8,461 | ▲ 62.9% |
| Investment in fixed assets (approximation) | - | €3,500 | - |
| Change in cash | - | -€122 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (2)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 13-07-2026 | 2026-00284327 |
| 31-12-2024 | micro format | 04-09-2025 | 2025-00483086 |
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Begijnendijk
This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of the 24,949 active companies whose main activity is beauty care and other beauty treatments (NACE 96220), figures are known for 1,456. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.