MANAGEMENT SOLUTIONS
ActiveSummary
MANAGEMENT SOLUTIONS has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €1.3m and a net result of €17,766. Equity is growing by ~6.2% per year across the filed fiscal years. Its solvency ranks better than 54% of 15869 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability70▲+1
Solvency69=
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €85,000 at 30 days acceptable
Liquidity tight (current ratio 1.45 against 1.5 in 2023; short-term debt: 36% and cash: 7.4% of total assets), and 56% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
44%
Return on assets
0.6%
Age of the figures
21 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-08-2025, 29 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
29 d late
2023
30 d late
2022
59 d late
2021
61 d late
2020
151 d late
2019
91 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 70 days after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
In the rankings
#1 company by total assets in Ellezelles#2 company by equity in Ellezelles, Wholesale and retail trade sector#5 oldest company in Ellezelles, Wholesale and retail trade sector
Turnover
€272,569
EBIT margin
5.9%
Net result
€17,766▲ 97.0%
2023 · €9,020
Working capital
€471,880▲ 2.5%
2023 · €460,191
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale trade, 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
Line20202021202220232024
Turnover€272,569
Operating result€16,170▼ 85.2%-€30€344,897€25,505▼ 92.6%€34,016▲ 33.4%
Net result-€20,488below the sector's middle half-€4,558below the sector's middle half▲ 77.8%€270,787above the sector's middle half€9,020within the sector's middle half▼ 96.7%€17,766within the sector's middle half▲ 97.0%
EBIT margin5.9%
Equity€1.0mabove the sector's middle half▼ 2.3%€996,799above the sector's middle half▼ 0.5%€1.3mabove the sector's middle half▲ 27.2%€1.3mabove the sector's middle half▲ 0.7%€1.3mabove the sector's middle half▲ 1.4%
Total assets€3.1mabove the sector's middle half▼ 3.3%€2.8mabove the sector's middle half▼ 9.4%€3.0mabove the sector's middle half▲ 8.6%€2.9mabove the sector's middle half▼ 3.5%€2.9mabove the sector's middle half▲ 0.8%
Debt€2.0m▼ 3.9%€1.7m▼ 14.4%€1.6m▼ 5.4%€1.5m▼ 7.0%€1.5m▲ 0.5%
Working capital-€337,656below the sector's middle half▼ 77.3%-€350,576below the sector's middle half▼ 3.8%€605,268above the sector's middle half€460,191above the sector's middle half▼ 24.0%€471,880above the sector's middle half▲ 2.5%
Solvency32.6%within the sector's middle half▲ 0.3pp35.8%within the sector's middle half▲ 3.2pp41.9%within the sector's middle half▲ 6.1pp43.8%within the sector's middle half▲ 1.8pp44.0%within the sector's middle half▲ 0.3pp
Current ratio0.79below the sector's middle half▼ 0.080.75below the sector's middle half▼ 0.051.66within the sector's middle half▲ 0.911.50within the sector's middle half▼ 0.161.45within the sector's middle half▼ 0.05
Return on assets (ROA)-0.7%within the sector's middle half▼ 3.5pp-0.2%within the sector's middle half▲ 0.5pp9.0%within the sector's middle half▲ 9.1pp0.3%within the sector's middle half▼ 8.6pp0.6%within the sector's middle half▲ 0.3pp
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 33% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €2.9m
Fixed assets
€1.4m ▼ 7.6%
Current assets
€1.5m ▲ 10.1%
Equity and liabilities €2.9m
Equity
€1.3m ▲ 1.4%
Provisions
€153,620 ▼ 1.3%
Debt
€1.5m ▲ 0.5%
Debt's share of the balance-sheet total falls from 50.9% to 50.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€133,726▼
2023 · €149,769
Cash flow
€117,477▼
2023 · €133,285
Quick ratio
0.84▲
2023 · 0.82
Debt to equity
1.15▼
2023 · 1.16
ROE
1.4%▲
2023 · 0.7%
Interest coverage
11.33▲
2023 · 10.87
Debt ≤ 1 year
€1.1m▲
2023 · €929,404
Debt > 1 year
€435,193▼
2023 · €555,791
Income taxes
€6,674▲
2023 · €6,120
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 14,732 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.2%
went bankrupt
3.5%
stopped otherwise
96%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 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% | 1.9% |
| 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 14,732 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.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €272,569 | - | - | - | - | - |
| Non-recurring operating income76A | - | €1,732 | €19,617 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €151,970 | €154,117 | €141,330 | €124,264 | €99,711 | ▼ 19.8% |
| Other operating charges640/8 | - | €38,180 | €38,379 | €58,836 | €41,149 | ▼ 30.1% |
| Non-recurring operating charges66A | - | €265 | €0 | - | - | - |
| Gross operating margin9900 | €290,983 | €192,532 | €524,605 | €208,605 | €174,875 | ▼ 16.2% |
| Operating profit (loss)9901 | €16,170 | -€30 | €344,897 | €25,505 | €34,016 | ▲ 33.4% |
| Financial income75/76B | - | €1 | €763 | €1,388 | €212 | ▼ 84.7% |
| Recurring financial income75 | €415 | €1 | €763 | €1,388 | €212 | ▼ 84.7% |
| Financial charges65/66B | - | €6,035 | €8,691 | €13,772 | €11,807 | ▼ 14.3% |
| Recurring financial charges65 | €21,991 | €6,035 | €8,441 | €13,772 | €11,807 | ▼ 14.3% |
| Non-recurring financial charges66B | - | - | €250 | €0 | - | - |
| Profit (loss) for the period before taxes9903 | -€5,406 | -€6,064 | €336,968 | €13,121 | €22,421 | ▲ 70.9% |
| Transfer from deferred taxes780 | - | €1,506 | €1,506 | €2,019 | €2,019 | = |
| Transfer to deferred taxes680 | - | - | €61,065 | €0 | - | - |
| Income taxes67/77 | €16,588 | €0 | €6,623 | €6,120 | €6,674 | ▲ 9.1% |
| Profit (loss) for the period9904 | -€20,488 | -€4,558 | €270,787 | €9,020 | €17,766 | ▲ 97.0% |
| Transfer from tax-exempt reserves789 | - | €4,676 | €4,676 | €6,728 | €6,728 | = |
| Transfer to tax-exempt reserves689 | - | - | €244,258 | €0 | - | - |
| Profit (loss) for the period to be appropriated9905 | -€15,812 | €119 | €31,205 | €15,749 | €24,494 | ▲ 55.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.1m | €2.8m | €3.0m | €2.9m | €2.9m | ▲ 0.8% |
| Fixed assets21/28 | €1.8m | €1.8m | €1.5m | €1.5m | €1.4m | ▼ 7.6% |
| Tangible fixed assets22/27 | €1.8m | €1.8m | €1.5m | €1.5m | €1.4m | ▼ 7.7% |
| Land and buildings22 | - | €1.6m | €1.4m | €1.5m | €1.4m | ▼ 5.5% |
| Plant, machinery and equipment23 | - | €90,526 | €35,592 | €22,502 | €9,413 | ▼ 58.2% |
| Furniture and vehicles24 | - | €19,689 | €36,047 | €37,523 | €13,913 | ▼ 62.9% |
| Financial fixed assets28 | - | €7,200 | €7,200 | €7,200 | €7,200 | = |
| Current assets29/58 | €1.3m | €1.0m | €1.5m | €1.4m | €1.5m | ▲ 10.1% |
| Stocks and contracts in progress3 | €488,070 | €360,705 | €470,312 | €625,187 | €639,923 | ▲ 2.4% |
| Stocks30/36 | - | €360,705 | €470,312 | €625,187 | €639,923 | ▲ 2.4% |
| Amounts receivable within one year40/41 | €94,521 | €135,152 | €118,075 | €125,000 | €165,354 | ▲ 32.3% |
| Trade receivables40 | - | €135,152 | €118,075 | €107,146 | €140,522 | ▲ 31.1% |
| Other amounts receivable41 | - | €0 | - | €17,854 | €24,832 | ▲ 39.1% |
| Current investments50/53 | €7,200 | €0 | €505,739 | €505,739 | €505,739 | = |
| Cash at bank and in hand54/58 | €683,117 | €529,573 | €434,197 | €133,669 | €218,366 | ▲ 63.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.1m | €2.8m | €3.0m | €2.9m | €2.9m | ▲ 0.8% |
| Equity10/15 | €1.0m | €996,799 | €1.3m | €1.3m | €1.3m | ▲ 1.4% |
| Contributions10/11 | €192,395 | €192,395 | €192,395 | €192,395 | €192,395 | = |
| Revaluation surpluses12 | - | €38,066 | €38,066 | €38,066 | €38,066 | = |
| Reserves13 | €769,760 | €765,084 | €1.0m | €1.0m | €1.1m | ▲ 1.7% |
| Non-distributable reserves130/1 | - | €19,860 | €19,860 | €0 | - | - |
| Reserves not available under the articles1311 | - | €19,860 | €19,860 | €0 | - | - |
| Tax-exempt reserves132 | - | €93,698 | €333,279 | €326,551 | €319,823 | ▼ 2.1% |
| Distributable reserves133 | - | €651,526 | €683,986 | €719,595 | €744,089 | ▲ 3.4% |
| Profit (loss) carried forward14 | €1,136 | €1,255 | €0 | - | - | - |
| Provisions and deferred taxes16 | €99,606 | €98,100 | €157,659 | €155,639 | €153,620 | ▼ 1.3% |
| Provisions for liabilities and charges160/5 | - | €80,000 | €80,000 | €80,000 | €80,000 | = |
| Pensions and similar obligations160 | - | €80,000 | €80,000 | €80,000 | €80,000 | = |
| Deferred taxes168 | - | €18,100 | €77,659 | €75,639 | €73,620 | ▼ 2.7% |
| Amounts payable17/49 | €2.0m | €1.7m | €1.6m | €1.5m | €1.5m | ▲ 0.5% |
| Amounts payable after more than one year17 | €360,949 | €312,498 | €674,170 | €555,791 | €435,193 | ▼ 21.7% |
| Financial debts170/4 | - | €312,498 | €674,170 | €555,791 | €435,193 | ▼ 21.7% |
| Amounts payable within one year42/48 | €1.6m | €1.4m | €923,054 | €929,404 | €1.1m | ▲ 13.8% |
| Current portion of amounts payable after more than one year42 | - | €48,452 | €116,269 | €118,379 | €120,598 | ▲ 1.9% |
| Trade debts44 | €72,577 | €101,945 | €84,183 | €78,991 | €105,827 | ▲ 34.0% |
| Suppliers440/4 | - | €101,945 | €84,183 | €78,991 | €105,827 | ▲ 34.0% |
| Advances received on contracts in progress46 | - | €0 | - | - | - | - |
| Taxes, remuneration and social security45 | - | €23,944 | €29,880 | €25,254 | €30,915 | ▲ 22.4% |
| Taxes450/3 | - | €23,944 | €29,880 | €25,254 | €30,915 | ▲ 22.4% |
| Other amounts payable47/48 | - | €1.2m | €692,723 | €706,779 | €800,162 | ▲ 13.2% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€20,488 | -€4,558 | €270,787 | €9,020 | €17,766 | ▲ 97.0% |
| + Depreciation and write-downs630 | €151,970 | €154,117 | €141,330 | €124,264 | €99,711 | ▼ 19.8% |
| Operating cash flow (approximation) | €131,482 | €149,559 | €412,116 | €133,285 | €117,477 | ▼ 11.9% |
| Investment in fixed assets (approximation) | - | -€112,523 | €122,497 | -€157,964 | €16,830 | ▲ 111% |
| Change in cash | - | -€153,544 | -€95,376 | -€300,528 | €84,697 | ▲ 128% |
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
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
28-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 59 days late
2022
31-12
Financial
Back to profitnet €270,787
Net result €270,787 after 2 loss-making years.
31-12
Financial
Liquidity doublescurrent ratio 1.66
Current ratio from 0.75 to 1.66; short-term debt falls from €1.4m to €923,054.
31-12
Financial
Equity above €1mEq €1.3m ▲27.2%
Equity rises from €996,799 to €1.3m.
30-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 61 days late
2021
29-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 151 days late
2020
31-12
Financial
Weakest financial yearnet -€20,488
Net result drops to -€20,488, the lowest in the series; recovery starts the following year.
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 91 days late
2019
31-12
Financial
Equity above €1mEq €1.0m ▲9.3%
2 profitable years in a row build equity to €1.0m.
31-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 31 days late
Show earlier events
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 31 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 31 days late
2016
29-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 29 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 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, Ellezelles · 1 establishment unit since 2002
Ground area
336 m²
Building footprint
397 m²
Volume, LiDAR
1,874 m³
Parcel 51017E0897/00D000, Wallonia · tallest building 6.9 m, ±2 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
DDSCOM
since 20022.112.077.208
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 51017E0897/00D000 | Wallonia | 336 m² | 1 · 397 m² | 6.9 m · 2 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.
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Of 4,414 companies in sector 46180 we hold annual accounts for 1,892. 827 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
Founded25-08-1988
Fiscal year end31-12
Abbreviation FR
M.S.
Activities, NACEBEL 2025
46180Agents specialised in the wholesale of other particular products
47811Retail sale of cars and light vans (up to 3.5 tonnes)
68203Renting and operating of own or leased non-residential real estate, excluding land
E-invoicing
Reachable via Peppol
Peppol ID
0208:0435213759
Also
9925:BE0435213759
Registered
03-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.