M & S INVEST
InactiveInactive since 21-08-2026; last annual accounts for fiscal year 2025. Dissolved without liquidation.
Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
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 filingsDeviation from the deadline
2025
25 d early
2024
336 d late
2023
30 d early
2022
18 d early
2021
5 d early
2020
18 d early
2019
1 d early
← 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 34 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 49% of the sector filed late.
Checked, nothing found (1)
History
Go further with this company
Who ran this company, and where was it based, on a date before the end?Company as of a date Which other companies belong to the same group?BELGIAN DISTRIBUTION GROUP · 13 companies How is the Freight transport by road sector doing?Sector figures
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, abbreviated schema
Equity
€159,928▲ 93.0%
2024 · €82,846
Total assets
€428,570▲ 47.5%
2024 · €290,468
Net result
€77,082
2024 · -€41,895
Working capital
€113,832
2024 · -€2,714
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 49, Land transport and transport via pipelines, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€9,923▼ 64.7%€47,965▲ 383%€7,758▼ 83.8%-€20,735€96,300
Net result€5,504within the sector's middle half▼ 70.2%€38,783within the sector's middle half▲ 605%€2,383below the sector's middle half▼ 93.9%-€41,895below the sector's middle half€77,082within the sector's middle half
Equity€83,574below the sector's middle half▲ 7.1%€122,357below the sector's middle half▲ 46.4%€124,740below the sector's middle half▲ 1.9%€82,846below the sector's middle half▼ 33.6%€159,928within the sector's middle half▲ 93.0%
Total assets€461,085below the sector's middle half▲ 5.0%€545,667below the sector's middle half▲ 18.3%€612,782below the sector's middle half▲ 12.3%€290,468below the sector's middle half▼ 52.6%€428,570within the sector's middle half▲ 47.5%
Debt€377,510▲ 4.6%€423,310▲ 12.1%€488,042▲ 15.3%€207,622▼ 57.5%€268,642▲ 29.4%
Working capital€44,111▼ 59.3%€112,204▲ 154%€22,346▼ 80.1%-€2,714€113,832
Solvency18.1%below the sector's middle half▲ 0.3pp22.4%within the sector's middle half▲ 4.3pp20.4%below the sector's middle half▼ 2.1pp28.5%within the sector's middle half▲ 8.2pp37.3%within the sector's middle half▲ 8.8pp
Staff (FTE)13.3within the sector's middle half=11.8within the sector's middle half▼ 11.3%13.9within the sector's middle half▲ 17.8%10.7within the sector's middle half▼ 23.0%9.7within the sector's middle half▼ 9.3%
above
within
below
the middle half (P25 to P75) of NACE 49, Land transport and transport via pipelines, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €96,300 after a loss of €20,735 in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €428,570
Fixed assets
€68,621 ▼ 55.4%
Current assets
€359,949 ▲ 164%
Equity and liabilities €428,570
Equity
€159,928 ▲ 93.0%
Debt
€268,642 ▲ 29.4%
Debt's share of the balance-sheet total falls from 71.5% to 62.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€179,742▲
2024 · €63,234
Cash flow
€160,524▲
2024 · €42,074
Current ratio
1.46▲
2024 · 0.98
Debt to equity
1.68▼
2024 · 2.51
ROE
48.2%▲
2024 · -50.6%
ROA
18.0%▲
2024 · -14.4%
Interest coverage
31.46▲
2024 · 2.99
Debt ≤ 1 year
€246,116▲
2024 · €139,303
Debt > 1 year
€22,526▼
2024 · €68,319
Income taxes
€14,210
Staff costs
€428,818▼
2024 · €481,725
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €6,949 | - | €31,278 | - | - | - |
| Remuneration, social security and pensions62 | €491,788 | €472,972 | €584,454 | €481,725 | €428,818 | ▼ 11.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €84,860 | €63,168 | €83,969 | €83,442 | ▼ 0.6% |
| Other operating charges640/8 | €21,268 | €15,177 | €11,135 | €47,154 | €5,721 | ▼ 87.9% |
| Non-recurring operating charges66A | - | - | - | €14,329 | €241 | ▼ 98.3% |
| Gross operating margin9900 | €522,979 | €620,974 | €666,515 | €606,441 | €614,522 | ▲ 1.3% |
| Operating profit (loss)9901 | €9,923 | €47,965 | €7,758 | -€20,735 | €96,300 | ▲ 564% |
| Financial income75/76B | €41 | - | - | €0 | €706 | ▲ 3,527,900% |
| Recurring financial income75 | €41 | - | - | €0 | €706 | ▲ 3,527,900% |
| Financial charges65/66B | €4,459 | €3,911 | €5,375 | €21,160 | €5,714 | ▼ 73.0% |
| Recurring financial charges65 | €4,459 | €3,911 | €5,375 | €21,160 | €5,714 | ▼ 73.0% |
| Profit (loss) for the period before taxes9903 | €5,504 | €44,053 | €2,383 | -€41,895 | €91,292 | ▲ 318% |
| Income taxes67/77 | - | €5,270 | - | - | €14,210 | - |
| Profit (loss) for the period9904 | €5,504 | €38,783 | €2,383 | -€41,895 | €77,082 | ▲ 284% |
| Profit (loss) for the period to be appropriated9905 | €5,504 | €38,783 | €2,383 | -€41,895 | €77,082 | ▲ 284% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €461,085 | €545,667 | €612,782 | €290,468 | €428,570 | ▲ 47.5% |
| Fixed assets21/28 | €143,492 | €162,646 | €236,032 | €153,879 | €68,621 | ▼ 55.4% |
| Tangible fixed assets22/27 | €143,222 | €162,376 | €235,762 | €153,609 | €68,351 | ▼ 55.5% |
| Furniture and vehicles24 | €8,308 | - | €43,942 | €36,408 | €25,316 | ▼ 30.5% |
| Leasing and similar rights25 | €134,914 | €162,376 | €191,819 | €117,200 | €43,035 | ▼ 63.3% |
| Financial fixed assets28 | €270 | €270 | €270 | €270 | €270 | = |
| Current assets29/58 | €317,593 | €383,021 | €376,750 | €136,590 | €359,949 | ▲ 164% |
| Amounts receivable within one year40/41 | €305,357 | €356,725 | €322,117 | €112,180 | €310,921 | ▲ 177% |
| Trade receivables40 | €240,456 | €260,324 | €205,890 | €97,413 | €136,451 | ▲ 40.1% |
| Other amounts receivable41 | €64,901 | €96,401 | €116,226 | €14,767 | €174,470 | ▲ 1,081% |
| Cash at bank and in hand54/58 | €10,636 | €25,318 | €23,212 | €20,988 | €46,539 | ▲ 122% |
| Deferred charges and accrued income490/1 | €1,600 | €978 | €31,422 | €3,422 | €2,489 | ▼ 27.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €461,085 | €545,667 | €612,782 | €290,468 | €428,570 | ▲ 47.5% |
| Equity10/15 | €83,574 | €122,357 | €124,740 | €82,846 | €159,928 | ▲ 93.0% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | €1,860 | - | - | - | - | - |
| Reserves not available under the articles1311 | €1,860 | - | - | - | - | - |
| Distributable reserves133 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €63,114 | €101,897 | €104,280 | €62,386 | €139,468 | ▲ 124% |
| Amounts payable17/49 | €377,510 | €423,310 | €488,042 | €207,622 | €268,642 | ▲ 29.4% |
| Amounts payable after more than one year17 | €104,029 | €119,559 | €133,638 | €68,319 | €22,526 | ▼ 67.0% |
| Financial debts170/4 | €104,029 | €119,559 | €133,638 | €68,319 | €22,526 | ▼ 67.0% |
| Amounts payable within one year42/48 | €273,481 | €270,816 | €354,404 | €139,303 | €246,116 | ▲ 76.7% |
| Current portion of amounts payable after more than one year42 | €43,367 | €57,458 | €84,666 | €67,135 | €31,839 | ▼ 52.6% |
| Financial debts43 | - | - | - | - | €13,954 | - |
| Other loans439 | - | - | - | - | €13,954 | - |
| Trade debts44 | €88,516 | €55,584 | €67,623 | €39,256 | €95,690 | ▲ 144% |
| Suppliers440/4 | €88,516 | €55,584 | €67,623 | €39,256 | €95,690 | ▲ 144% |
| Advances received on contracts in progress46 | €1,803 | - | €9,450 | - | - | - |
| Taxes, remuneration and social security45 | €18,213 | €24,861 | €60,911 | €32,913 | €38,672 | ▲ 17.5% |
| Taxes450/3 | €7,100 | €15,636 | €39,145 | €19,334 | €15,364 | ▼ 20.5% |
| Remuneration and social security454/9 | €11,113 | €9,224 | €21,766 | €13,580 | €23,308 | ▲ 71.6% |
| Other amounts payable47/48 | €121,582 | €132,914 | €131,754 | - | €65,961 | - |
| Accrued charges and deferred income492/3 | - | €32,934 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €5,504 | €38,783 | €2,383 | -€41,895 | €77,082 | ▲ 284% |
| + Depreciation and write-downs630 | - | €84,860 | €63,168 | €83,969 | €83,442 | ▼ 0.6% |
| Operating cash flow (approximation) | €5,504 | €123,643 | €65,551 | €42,074 | €160,524 | ▲ 282% |
| Investment in fixed assets (approximation) | - | -€104,014 | -€136,553 | -€1,816 | €1,816 | ▲ 200% |
| Change in cash | - | €14,682 | -€2,106 | -€2,224 | €25,551 | ▲ 1,249% |
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
Next filing, fiscal year 2026, expected by
2026
01-09
State Gazette act
Restructuring · End & cessationPermanent representative: SIMONS Roel · Merger · Dissolution6 facts ▸
State Gazette act
Restructuring · End & cessation
Permanent representative: SIMONS Roel · Merger · Dissolution6 facts ▸
- General meeting, 27-07-2026
- Merger, verrichting gelijkgesteld met een fusie door overneming, instemming algemene vergadering van de Overnemende Vennootschap
- Dissolution, ontbinding zonder vereffening, ontbinding zonder vereffening
- Asset distribution, onder algemene titel, hele vermogen
- Other statement, 27-07-2026
- Permanent representative, SIMONS Roel (permanent representative)
06-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
02-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 336 days late
2025
31-12
Financial
Back to profitnet €77,082
Net result €77,082 after one loss-making year.
31-12
Financial
Equity above €150,000Eq €159,928 ▲93%
Equity rises from €82,846 to €159,928.
2024
31-12
Financial
Weakest financial yearnet -€41,895
Net result drops to -€41,895, the lowest in the series.
01-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
13-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Equity above €100,000Eq €122,357 ▲46.4%
5 profitable years in a row build equity to €122,357.
26-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
13-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
Show earlier events
2019
25-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
31-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
27-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 8 acts read
About the unread acts
Of the 8 Belgian State Gazette acts we know for this company, 1 has been read. The other 7 have not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
8 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Bornem
Ground area
4.2 ha
Building footprint
1.6 ha
Volume, LiDAR
184,557 m³
Parcel 12007C0309/00H000, Flanders · tallest building 13.0 m, ±4 floors. Linked by address, not a title deed.
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12007C0309/00H000 | Flanders | 4.2 ha | 1 · 1.6 ha | 12.9 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Articles of association
Accounting effect
01-01-2026
Power of attorney
2 provisions in the deed
Structure & network
Part of the group
BELGIAN DISTRIBUTION GROUP
13 companies
Group, risk and exposure
Owners and holdings
1 ownerChain of control
- BELGIAN DISTRIBUTION GROUP
- BD LOG
- M & S INVEST
Highest known parent: BELGIAN DISTRIBUTION GROUP. The sources do not say who stands above it.
Owners 1
- BD LOGparentSourceaccounts BD LOG 2025100%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Acquisitions and mergers
1 transactionTaken over by:BD LOG
Recognitions · licences · registrations
Parcel delivery
Notified to the BIPT
Similar companies · same sector, comparable size
AKAY68
BE 0767.824.482
Temse · Eq €159,971
TRANSPORT JULES FRANS
BE 0439.192.046
Putte · Eq €160,012
TRANSPORTS ROGER DURANT ET FILS
BE 0427.540.168
Chapelle-lez-Herlaimont · Eq €160,017
REDTRANS
BE 0719.678.830
Anderlecht · Eq €160,018
YM TRANS
BE 0475.396.505
Buggenhout · Eq €159,819
Of 12,584 companies in sector 49410 we hold annual accounts for 8,203. 6,349 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded07-11-1994
Fiscal year end31-12
Activities, NACEBEL 2025
49410Freight transport by road
56301Cafés and bars
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.