Equity
€41,180 ▼ 13.5%
MCSD paid out €26,500 in dividends. That is 132% of the 2025 profit.
MCSD
Lifetime
8 annual accounts with figures on one time axispeak €56,107 (2023)
€40,500▲ 35.8%
lowest -€3,241 (2022)
€20,082▲ 72.2%
peak €51,802 (2021)
€41,180▼ 13.5%
€42,921▼ 11.2%
Board1 name since 2017
1 directorGhenne Olivier
Documentsfilings and deeds
22-06-202639 days before the deadline
2025micro format
Gross margin from €29,833 to €40,500Result from €11,663 to €20,082Dividend €26,500Equity from €47,598 to €41,180
Key points
from the 2025 annual accountsChecked score
91
Excellent
Financially stronger than 51% of micro companies in advertising and market research (NACE 73)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 11,228 companies (NACE 73, micro).
About 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.2%
01-2025: 0.2%● unchanged vs 12-2024
02-2025: 0.2%● unchanged vs 01-2025
03-2025: 0.2%● unchanged vs 02-2025
04-2025: 0.2%● unchanged vs 03-2025
05-2025: 0.2%● unchanged vs 04-2025
06-2025: 0.2%● unchanged vs 05-2025
07-2025: 0.1%▼ -0.1 percentage points vs 06-2025
08-2025: 0.1%● unchanged 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 01-2026lowest value
03-2026: 0.1%● unchanged vs 02-2026lowest value
04-2026: 0.1%● unchanged vs 03-2026
05-2026: 0.1%● unchanged vs 04-2026
06-2026: 0.1%● unchanged vs 05-2026
07-2026: 0.1%● unchanged vs 06-2026
08-2026: 0.3%▲ +0.2 percentage points vs 07-2026
09-2026: 0.4%▲ +0.1 percentage points vs 08-2026highest value
10-2026: 0.1%▼ -0.3 percentage points vs 09-2026
11-2026: 0.1%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
raises risk
Size: total assets €84,101
lowers risk
Liquidity: current ratio 1.38, cash €21,411
Sector: Advertising, market research and public relations activities (NACE 73)
Equity €41,180 (49.0% of total assets)
Calculation
The band follows from the bankruptcy probability. 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 73, micro). It does better than 48% of them on solvency, 54% on liquidity, 75% on profitability and 28% on growth.
The bankruptcy probability was computed on 08-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 26,972 companies had the same profile as MCSD has now. Each dot stands for 68 companies, two years later.
94.9%
were still trading
3.4%
stopped another way
1.6%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of MCSD itself is lower: 0.1% within 12 months. It rests on far more data about MCSD than the profile alone.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 26,972 companies, not a prediction for MCSD. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €3,500 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.38 (1.48 in 2024), below the usual 1.5. Short-term debt is 41.9% and cash 25.5% of total assets. 51% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
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 22-06-2026, 39 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
39 days early
2024
34 days early
2023
16 days early
2022
32 days early
2021
5 days late
2020
26 days late
2019
39 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 18 days before the deadline. In the sector (NACE 73), the median for financial year 2024 was 6 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 29 June (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
08-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0680979491
Purpose change · Amendment of the articles · Legal-form change · Resignations & appointments
“L'achat, la vente de toutes valeurs mobilières et plus principalement d'actions, obligations ou titres…” (deed in French) · Legal-form conversion: from private limited company (pre-2019) to private limited company · Board composition: GHENNE Olivier Ghislain (director) · Gazette deed
First establishment
Rue de l'Enfer 24, Hannut
Incorporation
published on 15-09-2017 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| MCSD Hannut | €84,101 | €40,500 | 49.0% | - |
| FIRST FORWARD Liège | €72,382 | €41,169 | 54.8% | - |
| CLAMFOSS Awans | €75,259 | €41,026 | 78.2% | - |
| 200 OK Antwerp | €80,571 | €40,920 | 32.9% | - |
| Alphasix Consulting Woluwe-Saint-Lambert | €90,193 | €38,862 | 50.3% | - |
| The flying fish Perwez | €84,710 | €37,956 | 54.7% | - |
| CoachYou Kraainem | €94,951 | €39,997 | 86.3% | - |
These companies have the same main activity as MCSD: public relations and communication consultancy (NACE 73300). They are comparable in size and age: total assets between €72,400 and €95,000, founded between 2016 and 2018.
Official details
Source: KBO- Status
- Active since 13-09-2017Normal situation
- Activity
- Public relations and communication consultancyNACE 73300and 2 others
- Establishment unit
- 2.267.793.8804280 Hannut, since 01-10-2017
- Financial year end
- 31 December
- Peppol
- Reachable since 21-10-2026
Annual accounts 2025
- €84,101▼ 12.4%
- Filing
- Filed on 22-06-2026, 39 days before the end of the filing period
Insights on MCSD
MCSD files the micro format. That format states no turnover. The gross margin rose from €8,079 in 2018 to €40,500 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about MCSD
- What is the company number of MCSD?
- The company number of MCSD is 0680.979.491. The VAT number is the same number with BE in front: BE 0680.979.491.
- Where is MCSD based?
- The registered office is at Rue de l'Enfer 24, 4280 Hannut.Company details
- What does MCSD do?
- According to the KBO register, the main activity is public relations and communication consultancy (NACE 73300).
- What is the legal form of MCSD?
- MCSD is a private limited company (BV).
- When was MCSD founded?
- MCSD was founded on 13-09-2017.
- Is MCSD still active?
- Yes, MCSD is an active enterprise in the KBO register.
- What is the turnover of MCSD?
- The turnover in financial year 2025 is ≈ €110,000. This figure is estimated from the gross margin of €40,500 and 44 comparable companies (NACE 73). It probably lies between €73,000 and €140,000.Financials
- Is MCSD profitable?
- In financial year 2025, MCSD made a profit of €20,082.
- Where can I find the annual accounts of MCSD?
- MCSD filed 8 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of MCSD due?
- MCSD must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Check which of your other customers you can e-invoice via Peppol.Peppol check Compare this company with its sector.Sector benchmark See what changed in the latest annual accounts.What changed
See how customers, suppliers and banks see your own company and what to improve first.