M.G.S.
ActiveM.G.S. has been active since 2000 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €89k and a net result of €11k. Equity is growing by ~10.6% per year across the filed fiscal years. Its solvency ranks better than 73% of 10310 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
71
/ 100
Healthy
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability78▼-5
Solvency86▼-5
Growth52=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6k at 30 days acceptable
Liquidity ample (current ratio 2.4 against 2.64 in 2024; short-term debt: 38.9% and cash: 9.6% of total assets), and 38.9% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Sector 47
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
61.1%
Return on assets
7.3%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 10-07-2026, 21 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
21 d early
2024
31 d early
2023
28 d late
2022
31 d late
2021
16 d early
2020
51 d early
2019
36 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
19-09-2026 today31-12-2026 close31-07-2027 deadline
Name match with a sanctions list
1 entrySHAHID MEISAMI GROUPalias S.M.G.
A name match is not a finding that this company itself is on the list; check the entry at the source.
Financials · fiscal year 2025, abbreviated schema
Equity
€89k▼ 18.3%
2024 · €109k
2018: €52k
2019: €75k
2020: €80k
2021: €95k
2022: €157k
2023: €190k
2024: €109k
2018 → 2025
Total assets
€146k▼ 12.3%
2024 · €167k
2018: €98k
2019: €120k
2020: €144k
2021: €198k
2022: €241k
2023: €240k
2024: €167k
2018 → 2025
Net result
€11k▼ 45.3%
2024 · €19k
2018: €21k
2019: €23k
2020: €15k
2021: €50k
2022: €73k
2023: €81k
2024: €19k
2018 → 2025
Working capital
€80k▼ 15.2%
2024 · €94k
2018: €42k
2019: €64k
2020: €73k
2021: €77k
2022: €141k
2023: €177k
2024: €94k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€95k-€157k▲ 63.9%€190k▲ 21.4%€109k▼ 42.4%€89k▼ 18.3%
Operating result€60k-€87k▲ 44.7%€97k▲ 12.5%€21k▼ 78.5%€11k▼ 47.5%
Net result€50k-€73k▲ 46.0%€81k▲ 10.8%€19k▼ 76.1%€11k▼ 45.3%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 48% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €146k
Fixed assets
€10k▼ 37.2%
Current assets
€137k▼ 9.8%
Equity and liabilities €146k
Equity
€89k▼ 18.3%
Debt
€57k▼ 1.0%
The debt ratio rises from 34.5% to 38.9%. Equity and debt are lower.
Key figures and ratios
EBITDA
€17k▼
2024 · €26k
Cash flow
€17k▼
2024 · €25k
Solvency
61.1%▼
2024 · 65.5%
Current ratio
2.40▼
2024 · 2.64
Quick ratio
2.39▼
2024 · 2.61
Debt / equity
0.64▲
2024 · 0.53
ROE
11.9%▼
2024 · 17.8%
ROA
7.3%▼
2024 · 11.7%
Interest coverage
15.14▼
2024 · 25.50
Debt
€57k▼
2024 · €58k
Debt ≤ 1 year
€57k▼
2024 · €58k
Income taxes
€5k▼
2024 · €7k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€167k€146k▼
Fixed assets21/28€15k€10k▼
Intangible fixed assets21€12k€7k▼
Tangible fixed assets22/27€3k€2k▼
Plant, machinery and equipment23€3k€1k▼
Furniture and vehicles24-€424
Financial fixed assets28€850€850=
Current assets29/58€152k€137k▼
Stocks and contracts in progress3€2k€803▼
Stocks30/36€2k€803▼
Amounts receivable within one year40/41€33k€24k▼
Trade receivables40€33k€21k▼
Other amounts receivable41-€3k
Current investments50/53€98k€95k▼
Cash at bank and in hand54/58€12k€14k▲
Deferred charges and accrued income490/1€7k€3k▼
Equity and liabilities
Total equity and liabilities10/49€167k€146k▼
Equity10/15€109k€89k▼
Contributions10/11€1k€1k=
Reserves13€108k€88k▼
Distributable reserves133€108k€88k▼
Amounts payable17/49€58k€57k▼
Amounts payable within one year42/48€58k€57k▼
Trade debts44€50k€41k▼
Suppliers440/4€50k€41k▼
Taxes, remuneration and social security45€3k-
Taxes450/3€3k-
Other amounts payable47/48€5k€16k▲
Accrued charges and deferred income492/3€37€37=
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€5k€6k▲
Other operating charges640/8€799€712▼
Gross operating margin9900€27k€18k▼
Operating profit (loss)9901€21k€11k▼
Financial income75/76B€7k€5k▼
Recurring financial income75€7k€5k▼
Financial charges65/66B€1k€1k▲
Recurring financial charges65€1k€1k▲
Profit (loss) for the period before taxes9903€27k€15k▼
Income taxes67/77€7k€5k▼
Profit (loss) for the period9904€19k€11k▼
Profit (loss) for the period to be appropriated9905€19k€11k▼
Appropriation of the result
Profit (loss) to be appropriated9906€19k€11k▼
Transfer from equity791/2€100k€20k▼
Transfer to equity691/2€19k-
To other reserves6921€19k-
Profit to be distributed694/7€100k€31k▼
Return on contributions (dividend)694€100k€31k▼
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
10-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet €11k ▼45.3%
Net result drops to €11k, the lowest in the series.
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
28-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 28 days late
2023
31-12
Financial
Highest result since 2018net €81k ▲10.8%
Operating result €97k, net result €81k, both a record.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-12
Financial
Equity above €150kEq €157k ▲63.9%
5 profitable years in a row build equity to €157k.
15-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
10-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
25-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
23-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 23 days late
2018
23-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
21-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Knokke-Heist · 1 establishment unit since 2001
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Felix Timmermansstraat 108301 Knokke-HeistGround area
237 m²
Building footprint
87 m²
Volume, LiDAR
691 m³
Parcel 31336H0980/00B000, Flanders · tallest building 9.7 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Felix Timmermansstraat 10, 8301 Knokke-Heist
since 20012.101.175.693
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31336H0980/00B000 | Flanders | 237 m² | 1 · 87 m² | 9.7 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 1,314 companies in sector 47639 we hold annual accounts for 624. 501 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded29-12-2000
Fiscal year end31-12
Activities, NACEBEL
47639Retail sale of other sporting goods
47640Retail trade
52482
Sources
Crossroads Bank for EnterprisesNational Bank · 25 filingsAddress and cadastre registers
Data from official sources, last processed on 18-09-2026. Scores and ratios are computed by Checked and are not a credit decision.