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M.S.G.

Active
Public limited companyfounded 1986active for 40 yearsDa Vincilaan 2, 1930 Zaventem, Belgium111 active companies are registered at this addressKBO/BCE: BE 0429.216.090
Summary

M.S.G. has been active since 1986 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €20.4m and a net result of €1.9m. Equity is growing by about 23% per year across the filed financial years. Its solvency ranks better than 78% of 5,674 sector peers (NACE 68, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).

Overview

Activity
Real estate agency activities
NACE 68310
5th oldest company in Zaventem, Real estate sector1 site
Size
€26.5mtotal assets 2025
Equity
€20.4m
Profit
€1.9m
Net result -59%: other schema
Financial health
96 Excellent Checked score 2025
Bankruptcy probabilitywithin 12 months
0.1%
Structure
Parent
BELGIAN REAL ESTATE FINANCE · 100%
Holdings
1
Accounts 25 days early1 of 9 deeds read
Why 96raises riskName on a sanctions list1 change of registered office in 24 monthsLiquidity: current ratio 4.77, cash €385,118lowers riskSize: total assets €26.5mFigures for financial year 2025 (filed 06-07-2026)Show the evidence

Checked score

Score 2025
96 / 100
Excellent
Probability in this band: under 0.55%
Financially better than 67% of its sector peers (NACE 68, medium-sized)
Financial strength · tick = 2024
Strong
Solvency 100=
equity 77.0% of total assets
Liquidity 45-6
short-term debt 20.1% · cash 1.5%
Profitability 56-29
return on assets 7.3%
Bankruptcy probability, 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%

About 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.1% (1,719 companies, NACE 68, medium-sized)
Last 24 months 11-2024: < 0.1%lowest value 12-2024: < 0.1%● unchanged vs 11-2024lowest value 01-2025: < 0.1%● unchanged vs 12-2024lowest value 02-2025: < 0.1%● unchanged vs 01-2025 03-2025: < 0.1%● unchanged vs 02-2025 04-2025: < 0.1%● unchanged vs 03-2025 05-2025: < 0.1%● unchanged vs 04-2025 06-2025: < 0.1%● unchanged vs 05-2025 07-2025: 0.1%▲ +0.1 percentage points vs 06-2025 08-2025: < 0.1%▼ -0.1 percentage points vs 07-2025 09-2025: < 0.1%● unchanged vs 08-2025 10-2025: < 0.1%● unchanged vs 09-2025 11-2025: < 0.1%● unchanged vs 10-2025 12-2025: < 0.1%● unchanged vs 11-2025 01-2026: < 0.1%● unchanged vs 12-2025 02-2026: < 0.1%● unchanged vs 01-2026 03-2026: < 0.1%● unchanged vs 02-2026 04-2026: < 0.1%● unchanged vs 03-2026 05-2026: 0.1%▲ +0.1 percentage points vs 04-2026 06-2026: 0.1%● unchanged vs 05-2026 07-2026: 0.1%● unchanged vs 06-2026highest value 08-2026: 0.1%● unchanged vs 07-2026 09-2026: 0.1%● unchanged vs 08-2026 10-2026: 0.1%● unchanged vs 09-2026
Credit of up to €1,950,000 on 30-day terms is acceptable
Liquidity ample (current ratio 4.77, compared with 65.04 in 2024; short-term debt: 20.1% and cash: 1.5% of total assets), and 23% of the assets are financed with debt and provisions.
How it is calculated

The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, medium-sized): better than 92% on solvency, 39% on liquidity, 65% on profitability and 72% on growth.

The bankruptcy probability was computed on 11-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Five signals.
lowers riskraises riskneutral
raises risk · 1 change of registered office in 24 months
Belgian Official Gazette
raises risk · Liquidity: current ratio 4.77, cash €385,118
NBB · annual accounts
lowers risk · Size: total assets €26.5m
Companies of this size fail less often; how much that weighs depends on the rest of its profile.
NBB · annual accounts
lowers risk · Figures for financial year 2025 (filed 06-07-2026)
NBB · annual accounts
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 06-07-2026, 25 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
25 days early
2024
25 days early
2023
14 days early
2022
28 days late
2021
22 days late
2020
23 days late
2019
56 days late
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 9 days after the deadline; the sector median (NACE 68) for financial year 2024 is 7 days before the deadline, and 36% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 18 July (4 of the last 5 filed years within 35 days of that day).
Companies Code · seven months
Where today falls in the filing period
12-10-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
Searched since 2021.
KBO publications · our coverage

Name match with a sanctions list

1 entry
SHAHID MEISAMI GROUPalias S.M.G.
OFAC SDN list (United States) · programme IFSR · IFSR / NPWMD · exact name match (100%)

A name match is not a finding that this company itself is on the list; check the entry at the source.

  1. Annual accounts filedfinancial year 2025 · full…
  2. Registered officeRegistered-office move · Amendment of…
  3. Annual accounts filedfinancial year 2024 · abbreviated…

Key points

  • Risk: Name on a sanctions lista name, not a verdict: check the source Match View
  • Positive: Among the best 5% on net resultsector median €21,064 · 5,680 companies €1.9m View
  • Caution: Result fell in 2025different schema filed ▼ 58.7% View
  • Positive: 8 profitable years in a rowprofit 2025: €1.9m 8 years View
  • Controlled by BELGIAN REAL ESTATE FINANCEthe company in turn controls 1 companies 100% View

By topic

Financials

Financial year
2025
Total assets
€26.5m
Profit
€1.9m
Solvency
77.0%
Total assets▲ 7.9%
Net result
20182025
Go to Financials

Timeline

Events
45
Since
1988
Next accounts
by 31-07-2027
  1. 31-12-2024Highest result from 2018 to 2025
  2. 31-12-2024Liquidity more than 12 times
  3. 17-07-2024Annual accounts filed
Go to Timeline

Company details

Sites
1
Legal form
Public limited company
Activity
Real estate agency activitiesNACE 68310
Founded
18-06-1986
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

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