MCSD
ActiveSummary
MCSD has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €47,598 and a net result of €11,663. Equity remains stable across the filed fiscal years (±1.5% per year). Its solvency ranks better than 45% of 8965 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability84▼-16
Solvency75▲+10
Growth78=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3,500 at 30 days acceptable
Liquidity tight (current ratio 1.48 against 1.21 in 2023; short-term debt: 35.9% and cash: 21.1% of total assets), and 50.4% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
49.6%
Return on assets
12.2%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 27-06-2025, 34 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
not confirmed
2024
34 d early
2023
16 d early
2022
32 d early
2021
5 d late
2020
26 d late
2019
39 d early
← 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 15 days before the deadline; the sector median for financial year 2024 is 6 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€47,598▼ 0.7%
2023 · €47,935
Total assets
€95,960▼ 19.2%
2023 · €118,690
Net result
€11,663▼ 64.8%
2023 · €33,174
Working capital
€16,432▲ 54.2%
2023 · €10,659
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€3,954▼ 89.4%€24,561▲ 521%-€2,035€43,289€16,826▼ 61.1%
Net result€1,550▼ 94.6%€17,668▲ 1,040%-€3,241€33,174€11,663▼ 64.8%
Equity€46,741▲ 1.5%€51,802▲ 10.8%€36,761▼ 29.0%€47,935▲ 30.4%€47,598▼ 0.7%
Total assets€62,211▼ 3.4%€90,587▲ 45.6%€76,560▼ 15.5%€118,690▲ 55.0%€95,960▼ 19.2%
Debt€15,471▼ 15.8%€38,785▲ 151%€39,799▲ 2.6%€70,755▲ 77.8%€48,362▼ 31.6%
Working capital€28,012▲ 4.3%€36,515▲ 30.4%€20,519▼ 43.8%€10,659▼ 48.1%€16,432▲ 54.2%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 61% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €95,960
Fixed assets
€45,074 ▼ 21.1%
Current assets
€50,886 ▼ 17.4%
Equity and liabilities €95,960
Equity
€47,598 ▼ 0.7%
Debt
€48,362 ▼ 31.6%
Debt's share of the balance-sheet total falls from 59.6% to 50.4%. Equity and debt are lower.
Key figures and ratios
EBITDA
€28,857▼
2023 · €53,606
Cash flow
€23,694▼
2023 · €43,491
Current ratio
1.48▲
2023 · 1.21
Debt to equity
1.02▼
2023 · 1.48
ROE
24.5%▼
2023 · 69.2%
ROA
12.2%▼
2023 · 27.9%
Interest coverage
20.57▼
2023 · 41.52
Debt ≤ 1 year
€34,454▼
2023 · €50,926
Debt > 1 year
€13,908▼
2023 · €19,829
Income taxes
€3,920▼
2023 · €9,117
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €3,306 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,835 | €7,131 | €6,381 | €10,317 | €12,031 | ▲ 16.6% |
| Other operating charges640/8 | - | €348 | €348 | €2,501 | €977 | ▼ 61.0% |
| Non-recurring operating charges66A | - | €725 | - | - | - | - |
| Gross operating margin9900 | €11,136 | €32,764 | €4,694 | €56,107 | €29,833 | ▼ 46.8% |
| Operating profit (loss)9901 | €3,954 | €24,561 | -€2,035 | €43,289 | €16,826 | ▼ 61.1% |
| Financial income75/76B | - | - | €218 | €293 | €161 | ▼ 45.2% |
| Recurring financial income75 | - | - | €218 | €293 | €161 | ▼ 45.2% |
| Financial charges65/66B | - | €95 | €48 | €1,291 | €1,403 | ▲ 8.7% |
| Recurring financial charges65 | €162 | €95 | €48 | €1,291 | €1,403 | ▲ 8.7% |
| Profit (loss) for the period before taxes9903 | €3,792 | €24,466 | -€1,864 | €42,291 | €15,583 | ▼ 63.2% |
| Income taxes67/77 | €2,241 | €6,798 | €1,376 | €9,117 | €3,920 | ▼ 57.0% |
| Profit (loss) for the period9904 | €1,550 | €17,668 | -€3,241 | €33,174 | €11,663 | ▼ 64.8% |
| Profit (loss) for the period to be appropriated9905 | €1,550 | €17,668 | -€3,241 | €33,174 | €11,663 | ▼ 64.8% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €62,211 | €90,587 | €76,560 | €118,690 | €95,960 | ▼ 19.2% |
| Fixed assets21/28 | €18,728 | €15,287 | €16,242 | €57,105 | €45,074 | ▼ 21.1% |
| Intangible fixed assets21 | €222 | €92 | €0 | - | - | - |
| Tangible fixed assets22/27 | €18,326 | €15,015 | €16,062 | €56,925 | €44,894 | ▼ 21.1% |
| Furniture and vehicles24 | - | €8,041 | €2,990 | €2,148 | €1,198 | ▼ 44.3% |
| Leasing and similar rights25 | - | - | - | €38,760 | €29,580 | ▼ 23.7% |
| Other tangible fixed assets26 | - | €6,511 | €12,575 | €16,017 | €14,116 | ▼ 11.9% |
| Assets under construction and advance payments27 | - | €462 | €498 | - | - | - |
| Financial fixed assets28 | €180 | €180 | €180 | €180 | €180 | = |
| Current assets29/58 | €43,483 | €75,301 | €60,318 | €61,585 | €50,886 | ▼ 17.4% |
| Amounts receivable after more than one year29 | - | - | €11,000 | €6,000 | €3,000 | ▼ 50.0% |
| Other amounts receivable291 | - | - | €11,000 | €6,000 | €3,000 | ▼ 50.0% |
| Amounts receivable within one year40/41 | €19,606 | €41,695 | €22,096 | €23,677 | €26,558 | ▲ 12.2% |
| Trade receivables40 | - | €41,695 | €19,852 | €22,294 | €22,095 | ▼ 0.9% |
| Other amounts receivable41 | - | - | €2,244 | €1,383 | €4,463 | ▲ 223% |
| Cash at bank and in hand54/58 | €23,371 | €32,975 | €26,286 | €30,590 | €20,203 | ▼ 34.0% |
| Deferred charges and accrued income490/1 | - | €630 | €936 | €1,318 | €1,125 | ▼ 14.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €62,211 | €90,587 | €76,560 | €118,690 | €95,960 | ▼ 19.2% |
| Equity10/15 | €46,741 | €51,802 | €36,761 | €47,935 | €47,598 | ▼ 0.7% |
| Contributions10/11 | - | €18,550 | €18,550 | €18,550 | €18,550 | = |
| Profit (loss) carried forward14 | €28,191 | €33,252 | €18,211 | €29,385 | €29,048 | ▼ 1.1% |
| Amounts payable17/49 | €15,471 | €38,785 | €39,799 | €70,755 | €48,362 | ▼ 31.6% |
| Amounts payable after more than one year17 | - | - | - | €19,829 | €13,908 | ▼ 29.9% |
| Financial debts170/4 | - | - | - | €19,829 | €13,908 | ▼ 29.9% |
| Amounts payable within one year42/48 | €15,471 | €38,785 | €39,799 | €50,926 | €34,454 | ▼ 32.3% |
| Current portion of amounts payable after more than one year42 | - | - | - | €5,627 | €5,920 | ▲ 5.2% |
| Trade debts44 | €242 | €577 | €6,762 | €5,470 | €5,683 | ▲ 3.9% |
| Suppliers440/4 | - | €577 | €6,762 | €5,470 | €5,683 | ▲ 3.9% |
| Taxes, remuneration and social security45 | - | €25,374 | €20,764 | €16,893 | €10,200 | ▼ 39.6% |
| Taxes450/3 | - | €25,374 | €20,764 | €16,893 | €10,200 | ▼ 39.6% |
| Other amounts payable47/48 | - | €12,834 | €12,272 | €22,935 | €12,650 | ▼ 44.8% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,550 | €17,668 | -€3,241 | €33,174 | €11,663 | ▼ 64.8% |
| + Depreciation and write-downs630 | €6,835 | €7,131 | €6,381 | €10,317 | €12,031 | ▲ 16.6% |
| Operating cash flow (approximation) | €8,385 | €24,799 | €3,140 | €43,491 | €23,694 | ▼ 45.5% |
| Investment in fixed assets (approximation) | - | -€3,689 | -€7,337 | -€51,180 | €0 | ▲ 100% |
| Change in cash | - | €9,604 | -€6,689 | €4,304 | -€10,387 | ▼ 341% |
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
2026
10-03
State Gazette act
General meeting · Board meeting
Merger · Accounting effect · Tim CARNEWAL
2025
27-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
15-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €33,174
Net result €33,174 after one loss-making year.
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet -€3,241
Net result drops to -€3,241, the lowest in the series; recovery starts the following year.
05-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 5 days late
2021
26-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 26 days late
2020
22-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Back to profitnet €28,460
Net result €28,460 after one loss-making year.
26-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Hannut · 1 establishment unit since 2017
Ground area
1,220 m²
Building footprint
135 m²
Parcel 64066C0446/00D000, Wallonia. Linked by address, not a title deed.
1 establishment unit
MCSD
since 20172.267.793.880
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 64066C0446/00D000 | Wallonia | 1,220 m² | 1 · 135 m² | - |
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.
Structure & network
Connections & network
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Ownership & control
1 board mandateBoard mandates of this companythis company sits on their board1
1 location
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Of 13,417 companies in sector 73300 we hold annual accounts for 6,898. 5,483 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
Founded13-09-2017
Fiscal year end31-12
Activities, NACEBEL 2025
73300Public relations and communication consultancy
70200Business and other management consultancy
78100Employment placement agencies
Scores and ratios are computed by Checked and are not a credit decision.