MRSL
ActiveSummary
MRSL has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €256,645 and a net result of -€1,688. Equity remains stable across the filed fiscal years (±1.4% per year). Its solvency ranks better than 94% of 19366 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.3% (very low).
What stands out
Overview
Accounts 62 d overdue0 of 2 deeds readTurnover not published (abridged schema)
Why 78- Annual accounts: weaker financial profile+ Lower-failure-rate sector+ Long track recordFiled after the deadlineShow the evidence
Checked score
Score 2024
Axes · tick = 2023
Profitability68▲+26
Solvency100=
Growth32=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €20,000 at 30 days acceptable
Liquidity ample (current ratio 26.12 against 17.37 in 2023; short-term debt: 2.2% and cash: 1.5% of total assets), and 5.5% 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
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
94.5%
Return on assets
-0.6%
Age of the figures
21 mo
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
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
63 d late
2022
16 d late
2021
25 d late
2020
30 d late
2019
69 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 39 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (1)
- Annual accounts filedfiscal year 2024 · micro…
- Annual accounts filedfiscal year 2023 · micro…
- Weakest financial yearnet -€5,387
Financials
Fiscal year 2024Total assets €271,633Loss -€1,688Solvency 94.5%Liquidity 26.12
Total assets
€271,633▼ 1.9%
2018 - 2024
Net result
-€1,688▲ 68.7%
2018 - 2024
Equity
€256,645▼ 1.3%
2018 - 2024
Solvency
94.5%▲ 0.6pp
2018 - 2024
Financials · fiscal year 2024, micro schema
Trend over the years
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€730€576▼ 21.0%€5▼ 99.1%-€5,304-€7,464▼ 40.7%
Net result-€647within the sector's middle half▲ 72.2%-€1,046within the sector's middle half▼ 61.5%-€1,627within the sector's middle half▼ 55.6%-€5,387within the sector's middle half▼ 231%-€1,688within the sector's middle half▲ 68.7%
Equity€273,448within the sector's middle half▼ 0.9%€270,638within the sector's middle half▼ 1.0%€267,247within the sector's middle half▼ 1.3%€260,096within the sector's middle half▼ 2.7%€256,645within the sector's middle half▼ 1.3%
Total assets€355,819within the sector's middle half▼ 0.3%€355,161within the sector's middle half▼ 0.2%€352,092within the sector's middle half▼ 0.9%€276,917within the sector's middle half▼ 21.4%€271,633within the sector's middle half▼ 1.9%
Debt€74,362▲ 3.0%€77,422▲ 4.1%€78,652▲ 1.6%€11,536▼ 85.3%€10,612▼ 8.0%
Working capital€175,521above the sector's middle half▲ 7.3%€126,304above the sector's middle half▼ 28.0%€137,235above the sector's middle half▲ 8.7%€140,670above the sector's middle half▲ 2.5%€151,371above the sector's middle half▲ 7.6%
Solvency76.9%above the sector's middle half▼ 0.4pp76.2%above the sector's middle half▼ 0.6pp75.9%above the sector's middle half▼ 0.3pp93.9%above the sector's middle half▲ 18.0pp94.5%above the sector's middle half▲ 0.6pp
Current ratio18.36above the sector's middle half▼ 3.192.73within the sector's middle half▼ 15.632.85within the sector's middle half▲ 0.1217.37above the sector's middle half▲ 14.5226.12above the sector's middle half▲ 8.75
Return on assets (ROA)-0.2%within the sector's middle half▲ 0.5pp-0.3%within the sector's middle half▼ 0.1pp-0.5%within the sector's middle half▼ 0.2pp-1.9%within the sector's middle half▼ 1.5pp-0.6%within the sector's middle half▲ 1.3pp
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result and balance sheet
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €7,464 in 2024 against €5,304 in 2023; the loss grows and 2024 has the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €271,633
Fixed assets
€114,237 ▼ 10.5%
Current assets
€157,396 ▲ 5.4%
Equity and liabilities €271,633
Equity
€256,645 ▼ 1.3%
Provisions
€4,376 ▼ 17.2%
Debt
€10,612 ▼ 8.0%
Debt's share of the balance-sheet total falls from 4.2% to 3.9%. Equity and debt are lower.
Key figures and ratios
Key figures and ratios
EBITDA
€6,675▼
2023 · €8,815
Cash flow
€12,451▲
2023 · €8,731
Debt to equity
0.04▼
2023 · 0.04
ROE
-0.7%▲
2023 · -2.1%
Interest coverage
50.13▲
2023 · 3.12
Debt ≤ 1 year
€6,025▼
2023 · €8,592
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,910 companies that looked in July 2024 the way this one looks now, 1.1% went bankrupt within 24 months and 91% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a small loss
1.1%
went bankrupt
7.9%
stopped otherwise
91%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.3% 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 497,341 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% | 1.8% |
| 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 6,910 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.
Filed annual accounts
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €15,142 | €15,142 | €14,926 | €14,118 | €14,139 | ▲ 0.1% |
| Other operating charges640/8 | - | €2,994 | €3,273 | €3,763 | €4,078 | ▲ 8.4% |
| Gross operating margin9900 | €18,690 | €18,713 | €18,203 | €12,578 | €10,753 | ▼ 14.5% |
| Operating profit (loss)9901 | €730 | €576 | €5 | -€5,304 | -€7,464 | ▼ 40.7% |
| Financial income75/76B | - | €1,764 | €1,764 | €1,831 | €5,001 | ▲ 173% |
| Recurring financial income75 | €1,774 | €1,764 | €1,764 | €1,831 | €5,001 | ▲ 173% |
| Financial charges65/66B | - | €4,294 | €4,304 | €2,824 | €133 | ▼ 95.3% |
| Recurring financial charges65 | €4,060 | €4,294 | €4,304 | €2,824 | €133 | ▼ 95.3% |
| Profit (loss) for the period before taxes9903 | -€1,556 | -€1,954 | -€2,536 | -€6,296 | -€2,596 | ▲ 58.8% |
| Transfer from deferred taxes780 | - | €908 | €908 | €908 | €908 | = |
| Profit (loss) for the period9904 | -€647 | -€1,046 | -€1,627 | -€5,387 | -€1,688 | ▲ 68.7% |
| Profit (loss) for the period to be appropriated9905 | -€647 | -€1,046 | -€1,627 | -€5,387 | -€1,688 | ▲ 68.7% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €355,819 | €355,161 | €352,092 | €276,917 | €271,633 | ▼ 1.9% |
| Fixed assets21/28 | €170,187 | €155,791 | €140,684 | €127,655 | €114,237 | ▼ 10.5% |
| Tangible fixed assets22/27 | €169,363 | €154,221 | €139,295 | €125,636 | €111,498 | ▼ 11.3% |
| Land and buildings22 | - | €153,281 | €139,295 | €125,310 | €111,324 | ▼ 11.2% |
| Plant, machinery and equipment23 | - | - | - | €327 | €174 | ▼ 46.8% |
| Furniture and vehicles24 | - | €940 | €0 | - | - | - |
| Financial fixed assets28 | €824 | €1,570 | €1,388 | €2,019 | €2,739 | ▲ 35.7% |
| Current assets29/58 | €185,632 | €199,370 | €211,408 | €149,262 | €157,396 | ▲ 5.4% |
| Amounts receivable within one year40/41 | €3,813 | €9,163 | €4,511 | €5,948 | €9,053 | ▲ 52.2% |
| Trade receivables40 | - | €9,163 | €4,511 | €5,948 | €9,053 | ▲ 52.2% |
| Current investments50/53 | - | - | - | €115,000 | €144,138 | ▲ 25.3% |
| Cash at bank and in hand54/58 | €181,819 | €190,207 | €206,897 | €28,314 | €4,205 | ▼ 85.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €355,819 | €355,161 | €352,092 | €276,917 | €271,633 | ▼ 1.9% |
| Equity10/15 | €273,448 | €270,638 | €267,247 | €260,096 | €256,645 | ▼ 1.3% |
| Contributions10/11 | - | €30,000 | €30,000 | €30,000 | €30,000 | = |
| Reserves13 | €224,000 | €224,000 | €224,000 | €224,000 | €224,000 | = |
| Non-distributable reserves130/1 | - | €3,000 | €3,000 | €0 | - | - |
| Reserves not available under the articles1311 | - | €3,000 | €3,000 | €0 | - | - |
| Distributable reserves133 | - | €221,000 | €221,000 | €224,000 | €224,000 | = |
| Profit (loss) carried forward14 | -€817 | -€1,863 | -€3,490 | -€8,878 | -€10,565 | ▼ 19.0% |
| Investment grants15 | - | €18,501 | €16,737 | €14,974 | €13,210 | ▼ 11.8% |
| Provisions and deferred taxes16 | €8,009 | €7,101 | €6,192 | €5,284 | €4,376 | ▼ 17.2% |
| Deferred taxes168 | - | €7,101 | €6,192 | €5,284 | €4,376 | ▼ 17.2% |
| Amounts payable17/49 | €74,362 | €77,422 | €78,652 | €11,536 | €10,612 | ▼ 8.0% |
| Amounts payable after more than one year17 | €60,000 | - | - | - | - | - |
| Amounts payable within one year42/48 | €10,111 | €73,066 | €74,173 | €8,592 | €6,025 | ▼ 29.9% |
| Financial debts43 | - | €60,000 | €60,000 | €0 | - | - |
| Other loans439 | - | €60,000 | €60,000 | €0 | - | - |
| Trade debts44 | €1,576 | €3,108 | €2,323 | €5,865 | €126 | ▼ 97.9% |
| Suppliers440/4 | - | €3,108 | €2,323 | €5,865 | €126 | ▼ 97.9% |
| Other amounts payable47/48 | - | €9,958 | €11,851 | €2,727 | €5,899 | ▲ 116% |
| Accrued charges and deferred income492/3 | - | €4,356 | €4,479 | €2,945 | €4,587 | ▲ 55.8% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€647 | -€1,046 | -€1,627 | -€5,387 | -€1,688 | ▲ 68.7% |
| + Depreciation and write-downs630 | €15,142 | €15,142 | €14,926 | €14,118 | €14,139 | ▲ 0.1% |
| Operating cash flow (approximation) | €14,495 | €14,096 | €13,298 | €8,731 | €12,451 | ▲ 42.6% |
| Investment in fixed assets (approximation) | - | -€746 | €181 | -€1,089 | -€721 | ▲ 33.8% |
| Change in cash | - | €8,388 | €16,690 | -€178,583 | -€24,109 | ▲ 86.5% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Comparable companies
Similar companies · same sector, comparable size
RODIMO
BE 0455.787.459
Asse · Eq €256,652
RAUWERS - IMMOBILIA
BE 0430.049.696
Brussel · Eq €255,826
F.A.D.S.
BE 0429.800.268
Pajottegem · Eq €255,750
L'IMMOBILIERE ELMI
BE 0683.583.744
Mons · Eq €255,749
KEBEMA
BE 0818.848.858
Lummen · Eq €257,894
Of 9,141 companies in this sector we hold annual accounts for 6,773. 4,921 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Timeline
13 eventsLatest 29-08-2025
History
Acts, filings and financial milestones
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
02-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 63 days late
2023
31-12
Financial
Weakest financial yearnet -€5,387
Net result drops to -€5,387, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity times 6current ratio 17.37
Current ratio from 2.85 to 17.37; short-term debt falls from €74,173 to €8,592.
16-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 16 days late
2022
25-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 25 days late
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
08-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 69 days late
2019
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 28 days late
2018
25-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
11-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 11 days late
2016
28-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
2015
11-05
State Gazette act
General meeting · Director resignation
Permanent representative · Registered-office move
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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Company details
Private limited company · founded 04-02-2011Year ends 31-12Peppol reachable1 site
Register details
Identification
Legal formPrivate limited company
Founded04-02-2011
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
E-invoicing
Reachable via Peppol
Peppol ID
0208:0833593947
Also
9925:BE0833593947
Registered
22-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Sites & property
Location & real-estate footprint
Registered office, Oostende · 1 establishment unit since 2011
Ground area
63 m²
Building footprint
63 m²
Volume, LiDAR
727 m³
Parcel 35384A0486/00L007, Flanders · tallest building 15.1 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
MRSL
since 2011unit no. 2.196.203.031
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 35384A0486/00L007 | Flanders | 63 m² | 1 · 63 m² | 15.1 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.
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