M.S. SERVICES
Open bankruptcyA bankruptcy procedure is open for M.S. SERVICES according to publications in the Belgian State Gazette; curator: CHRISTOPHE CHARDON.
Summary
The 2022 annual accounts show equity of €544k and a net result of €225k.
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2022 was due by 31-07-2023 and was filed on 16-10-2023, 77 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
77 d late
2021
442 d late
2020
715 d late
2019
47 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2022, full schema
Turnover
€3.14M▲ 30.7%
2021 · €2.40M
2021: €2.40M
2021 → 2022
EBIT margin
9.6%▼ 0.2pp
2021 · 9.8%
2021: 9.8%
2021 → 2022
Net result
€225k▲ 26.0%
2021 · €179k
2018: €5k
2019: €4k
2020: €-5k
2021: €179k
2018 → 2022
Working capital
€128k▲ 169%
2021 · €48k
2018: €-306
2019: €3k
2020: €-2k
2021: €48k
2018 → 2022
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20182019202020212022Trend
Turnover€2.40M€3.14M▲ 30.7%
Equity€-306-€3k€-2k€319k€544k▲ 70.6%
Operating result€-31k-€4k€-5k€236k€300k▲ 27.5%
Net result€5k-€4k▼ 29.1%€-5k€179k€225k▲ 26.0%
Result per fiscal year
Operating resultNet result
After the dip in 2020 the operating result has climbed two years in a row; 2022 is 28% above 2021 and is the highest result in the available series.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €864k
Fixed assets
€422k ▲ 55.8%
Current assets
€442k ▲ 112%
Equity and liabilities €864k
Equity
€544k ▲ 70.6%
Debt
€320k ▲ 99.7%
Debt's share of the balance-sheet total rises from 33.5% to 37.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€380k▲
2021 · €285k
Cash flow
€305k▲
2021 · €228k
Current ratio
1.41▲
2021 · 1.30
Quick ratio
1.16▲
2021 · 0.75
Debt to equity
0.59▲
2021 · 0.50
ROE
41.4%▼
2021 · 56.0%
ROA
26.0%▼
2021 · 37.3%
Interest coverage
790.12▲
2021 · 717.25
Debt ≤ 1 year
€313k▲
2021 · €160k
Income taxes
€75k▲
2021 · €57k
Staff costs
€1.30M▲
2021 · €980k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2022 against 2021 · 53 lines
Balance sheet
Code20212022
Assets
Total assets20/58€479k€864k▲
Fixed assets21/28€271k€422k▲
Tangible fixed assets22/27€271k€408k▲
Plant, machinery and equipment23€248k€291k▲
Furniture and vehicles24€22k€88k▲
Assets under construction and advance payments27-€30k
Financial fixed assets28-€14k
Current assets29/58€208k€442k▲
Stocks and contracts in progress3€88k€80k▼
Stocks30/36€88k€80k▼
Amounts receivable within one year40/41€12k€105k▲
Trade receivables40€12k€104k▲
Other amounts receivable41-€2k
Cash at bank and in hand54/58€103k€229k▲
Deferred charges and accrued income490/1€5k€27k▲
Equity and liabilities
Total equity and liabilities10/49€479k€864k▲
Equity10/15€319k€544k▲
Contributions10/11€149k€149k=
Reserves13€9k€15k▲
Non-distributable reserves130/1€9k€15k▲
Reserves not available under the articles1311€9k€15k▲
Profit (loss) carried forward14€162k€380k▲
Amounts payable17/49€160k€320k▲
Amounts payable within one year42/48€160k€313k▲
Trade debts44€45k€145k▲
Suppliers440/4€45k€145k▲
Advances received on contracts in progress46€3k€10k▲
Taxes, remuneration and social security45€113k€158k▲
Taxes450/3€57k€75k▲
Remuneration and social security454/9€56k€83k▲
Accrued charges and deferred income492/3-€7k
Income statement
Code20212022
Turnover70€2.40M€3.14M▲
Non-recurring operating income76A€17k-
Goods, raw materials, services and sundry goods60/61€1.13M€1.46M▲
Remuneration, social security and pensions62€980k€1.30M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€49k€80k▲
Non-recurring operating charges66A€3k-
Gross operating margin9900€1.27M€1.68M▲
Operating profit (loss)9901€236k€300k▲
Financial income75/76B€136€121▼
Recurring financial income75€136€121▼
Financial charges65/66B€397€481▲
Recurring financial charges65€397€481▲
Profit (loss) for the period before taxes9903€235k€300k▲
Income taxes67/77€57k€75k▲
Profit (loss) for the period9904€179k€225k▲
Profit (loss) for the period to be appropriated9905€179k€225k▲
Appropriation of the result
Profit (loss) to be appropriated9906€170k€387k▲
Profit (loss) brought forward from the previous period14P€-9k€162k▲
Transfer from equity791/2-€9k
Transfer to equity691/2€9k€15k▲
To contributions691€9k€15k▲
Social balance
Average headcount (FTE)908738.048.0▲
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2024
23-04
Bankruptcy
Opening
Tribunal de l’entreprise francophone de Bruxelles · M.S. SERVICES SRL AVENUE DE TERVUEREN 208/10, 1150 WOLUWE-SAINT-PIERRE · event 15-04-2024
2023
16-10
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 77 days late
16-10
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 442 days late
16-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 715 days late
2022
31-12
Financial
Highest result since 2018net €225k ▲26%
Operating result €300k, net result €225k, both a record.
31-12
Financial
Equity above €500kEq €544k ▲70.6%
2 profitable years in a row build equity to €544k.
2021
31-12
Financial
Back to profitnet €179k
Net result €179k after one loss-making year.
31-12
Financial
Liquidity quadruplescurrent ratio 1.30
Current ratio from 0.34 to 1.30.
31-12
Financial
Equity above €200kEq €319k
Equity rises from €-2k to €319k.
2020
31-12
Financial
Weakest financial yearnet €-5k ▼233%
Net result drops to €-5k, the lowest in the series.
16-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 47 days late
2019
20-09
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 51 days late
Show earlier events
2018
21-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
28-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
25-05
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
2015
16-12
NBB filing
Annual accounts filed
fiscal year 2014 · full schema · 138 days late
2014
23-06
NBB filing
Annual accounts filed
fiscal year 2013 · full schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
4 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, Sint-Pieters-Woluwe · 2 establishment units since 2000
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.
Tervurenlaan 2081150 Sint-Pieters-WoluweGround area
2,842 m²
Building footprint
559 m²
Volume, LiDAR
7,188 m³
2 parcels, Brussels · tallest building 28.5 m, ±8 floors. Linked by address, not a title deed.
2 establishment units
Kolomstraat 1A, 1080 Sint-Jans-Molenbeek
since 20002.093.732.033
M.S. SERVICES
since 20242.354.686.381
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21522B0623/00L000 | Brussels | 2,442 m² | 1 · 406 m² | 19.8 m · 2 fl. |
| 21019A0202/00G008 | Brussels | 399 m² | 1 · 153 m² | 28.5 m · 8 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | CHRISTOPHE CHARDON AVENUE DU CENTE-
NAIRE 120, 1400 NIVELLES |
15-04-2024 → present |
Recognitions · licences · registrations
Food safety, FASFC
2 sitesSint-Jans-Molenbeek2.093.732.033
Sint-Pieters-Woluwe2.354.686.381
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded17-02-2000
Fiscal year end31-12
Sources
Crossroads Bank for EnterprisesNational Bank · 23 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.