M.S.D.
ActiveSummary
M.S.D. has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €119,184 and a net result of -€9,992. Equity is growing by ~7.6% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 1.2% (low).
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Signals
This company filed its last 7 accounts on average 4 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (2)
Name match with a sanctions list
1 entryA name match is not a finding that this company itself is on the list; check the entry at the source.
History
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Financials · fiscal year 2024, micro schema, 2025 accounts filed, figures not processed yet
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.
Peer companies
Historical observationOf the 12,321 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 90% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.2% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 12,321 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €321,322 | €313,165 | €321,683 | €327,871 | €353,531 | ▲ 7.8% |
| Goods, raw materials, services and sundry goods60/61 | - | €260,158 | €278,884 | €285,555 | €327,762 | ▲ 14.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,770 | €21,524 | €26,164 | €31,250 | €28,834 | ▼ 7.7% |
| Other operating charges640/8 | - | €1,103 | €1,431 | €1,271 | €889 | ▼ 30.1% |
| Non-recurring operating charges66A | - | €4,392 | €95 | €0 | €1,144 | - |
| Gross operating margin9900 | €48,800 | €53,154 | €47,299 | €45,520 | €25,769 | ▼ 43.4% |
| Operating profit (loss)9901 | €34,401 | €26,136 | €19,609 | €12,999 | -€5,098 | ▼ 139% |
| Financial income75/76B | - | - | €21 | €1 | €164 | ▲ 12,691% |
| Recurring financial income75 | €27 | - | €21 | €1 | €164 | ▲ 12,691% |
| Financial charges65/66B | - | €1,344 | €2,615 | €2,769 | €2,160 | ▼ 22.0% |
| Recurring financial charges65 | €1,120 | €1,344 | €2,615 | €2,769 | €2,160 | ▼ 22.0% |
| Profit (loss) for the period before taxes9903 | €33,597 | €24,791 | €17,015 | €10,231 | -€7,095 | ▼ 169% |
| Income taxes67/77 | €10,614 | €8,359 | €10,829 | €8,414 | €2,898 | ▼ 65.6% |
| Profit (loss) for the period9904 | €22,984 | €16,432 | €6,186 | €1,817 | -€9,992 | ▼ 650% |
| Profit (loss) for the period to be appropriated9905 | €22,984 | €16,432 | €6,186 | €1,817 | -€9,992 | ▼ 650% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €206,134 | €191,802 | €216,616 | €205,971 | €184,187 | ▼ 10.6% |
| Fixed assets21/28 | €144,908 | €123,384 | €135,135 | €110,874 | €84,002 | ▼ 24.2% |
| Tangible fixed assets22/27 | €144,609 | €123,086 | €134,836 | €110,575 | €83,703 | ▼ 24.3% |
| Plant, machinery and equipment23 | - | €654 | €287 | €0 | €0 | - |
| Furniture and vehicles24 | - | €16,978 | €40,845 | €25,427 | €12,762 | ▼ 49.8% |
| Other tangible fixed assets26 | - | €105,454 | €93,704 | €85,148 | €70,941 | ▼ 16.7% |
| Financial fixed assets28 | €299 | €299 | €299 | €299 | €299 | = |
| Current assets29/58 | €61,226 | €68,418 | €81,481 | €95,097 | €100,185 | ▲ 5.4% |
| Amounts receivable within one year40/41 | €24,761 | €32,897 | €34,135 | €37,750 | €43,713 | ▲ 15.8% |
| Trade receivables40 | - | - | €2,223 | €0 | €22,856 | - |
| Other amounts receivable41 | - | €32,897 | €31,912 | €37,750 | €20,857 | ▼ 44.7% |
| Cash at bank and in hand54/58 | €36,364 | €34,417 | €45,055 | €55,030 | €55,135 | ▲ 0.2% |
| Deferred charges and accrued income490/1 | - | €1,104 | €2,291 | €2,317 | €1,337 | ▼ 42.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €206,134 | €191,802 | €216,616 | €205,971 | €184,187 | ▼ 10.6% |
| Equity10/15 | €140,455 | €156,888 | €163,073 | €164,891 | €119,184 | ▼ 27.7% |
| Contributions10/11 | €0 | €6,197 | €6,197 | €6,197 | €6,197 | = |
| Reserves13 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Non-distributable reserves130/1 | - | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Reserves not available under the articles1311 | - | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Profit (loss) carried forward14 | €132,399 | €148,831 | €155,017 | €156,834 | €111,128 | ▼ 29.1% |
| Amounts payable17/49 | €65,679 | €34,914 | €53,542 | €41,080 | €65,003 | ▲ 58.2% |
| Amounts payable after more than one year17 | €25,809 | €16,510 | €29,461 | €18,598 | €9,244 | ▼ 50.3% |
| Financial debts170/4 | - | €16,510 | €29,461 | €18,598 | €9,244 | ▼ 50.3% |
| Amounts payable within one year42/48 | €39,870 | €18,405 | €24,082 | €22,482 | €55,759 | ▲ 148% |
| Current portion of amounts payable after more than one year42 | - | €8,895 | €14,152 | €11,530 | €10,020 | ▼ 13.1% |
| Trade debts44 | €4,559 | €4,059 | €4,951 | €6,816 | €5,882 | ▼ 13.7% |
| Suppliers440/4 | - | €4,059 | €4,951 | €6,816 | €5,882 | ▼ 13.7% |
| Taxes, remuneration and social security45 | - | €4,606 | €3,882 | €3,040 | €13,513 | ▲ 344% |
| Taxes450/3 | - | €744 | €0 | €296 | €10,714 | ▲ 3,522% |
| Remuneration and social security454/9 | - | €3,862 | €3,882 | €2,744 | €2,799 | ▲ 2.0% |
| Other amounts payable47/48 | - | €845 | €1,096 | €1,096 | €26,343 | ▲ 2,303% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €22,984 | €16,432 | €6,186 | €1,817 | -€9,992 | ▼ 650% |
| + Depreciation and write-downs630 | €7,770 | €21,524 | €26,164 | €31,250 | €28,834 | ▼ 7.7% |
| Operating cash flow (approximation) | €30,754 | €37,956 | €32,350 | €33,067 | €18,842 | ▼ 43.0% |
| Investment in fixed assets (approximation) | - | €0 | -€37,914 | -€6,989 | -€1,962 | ▲ 71.9% |
| Change in cash | - | -€1,948 | €10,638 | €9,975 | €105 | ▼ 98.9% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Directors · office · real estate
1 establishment unit
1 parcel
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52016A0329/00H002 | Wallonia | 147 m² | 1 · 37 m² | - |
Linked by address, not proof of ownership
Company details
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
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If you follow this company, Checked tells you the day it appears in the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.