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 €257k and a net result of €-2k. Equity remains stable across the filed fiscal years (±1.4% per year). Its solvency ranks better than 94% of 19356 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.3% (very low).
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 €20k 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
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 →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€257k▼ 1.3%
2023 · €260k
2018: €280khighest in 7 years
2019: €276k▼ -1.5% vs 2018
2020: €273k▼ -0.9% vs 2019
2021: €271k▼ -1.0% vs 2020
2022: €267k▼ -1.3% vs 2021
2023: €260k▼ -2.7% vs 2022
2024: €257k▼ -1.3% vs 2023lowest in 7 years
2018 → 2024
Total assets
€272k▼ 1.9%
2023 · €277k
2018: €360khighest in 7 years
2019: €357k▼ -0.9% vs 2018
2020: €356k▼ -0.3% vs 2019
2021: €355k▼ -0.2% vs 2020
2022: €352k▼ -0.9% vs 2021
2023: €277k▼ -21.4% vs 2022
2024: €272k▼ -1.9% vs 2023lowest in 7 years
2018 → 2024
Net result
€-2k▲ 68.7%
2023 · €-5k
2018: €-694
2019: €-2k▼ -236% vs 2018
2020: €-647▲ +72.2% vs 2019highest in 7 years
2021: €-1k▼ -61.5% vs 2020
2022: €-2k▼ -55.6% vs 2021
2023: €-5k▼ -231% vs 2022lowest in 7 years
2024: €-2k▲ +68.7% vs 2023
2018 → 2024
Working capital
€151k▲ 7.6%
2023 · €141k
2018: €154k
2019: €164k▲ +6.6% vs 2018
2020: €176k▲ +7.3% vs 2019highest in 7 years
2021: €126k▼ -28.0% vs 2020lowest in 7 years
2022: €137k▲ +8.7% vs 2021
2023: €141k▲ +2.5% vs 2022
2024: €151k▲ +7.6% vs 2023
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€273k-€271k▼ 1.0%€267k▼ 1.3%€260k▼ 2.7%€257k▼ 1.3%
2020: €273khighest in 5 years
2021: €271k▼ -1.0% vs 2020
2022: €267k▼ -1.3% vs 2021
2023: €260k▼ -2.7% vs 2022
2024: €257k▼ -1.3% vs 2023lowest in 5 years
Operating result€730-€576▼ 21.0%€5▼ 99.1%€-5k€-7k▼ 40.7%
2020: €730highest in 5 years
2021: €576▼ -21.0% vs 2020
2022: €5▼ -99.1% vs 2021
2023: €-5k▼ -108336% vs 2022
2024: €-7k▼ -40.7% vs 2023lowest in 5 years
Net result€-647-€-1k▼ 61.5%€-2k▼ 55.6%€-5k▼ 231%€-2k▲ 68.7%
2020: €-647highest in 5 years
2021: €-1k▼ -61.5% vs 2020
2022: €-2k▼ -55.6% vs 2021
2023: €-5k▼ -231% vs 2022lowest in 5 years
2024: €-2k▲ +68.7% vs 2023
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €7k in 2024 against €5k 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 €272k
Fixed assets
€114k ▼ 10.5%
Current assets
€157k ▲ 5.4%
Equity and liabilities €272k
Equity
€257k ▼ 1.3%
Provisions
€4k ▼ 17.2%
Debt
€11k ▼ 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
EBITDA
€7k▼
2023 · €9k
Cash flow
€12k▲
2023 · €9k
Current ratio
26.12▲
2023 · 17.37
Debt to equity
0.04▼
2023 · 0.04
ROE
-0.7%▲
2023 · -2.1%
ROA
-0.6%▲
2023 · -1.9%
Interest coverage
50.13▲
2023 · 3.12
Debt ≤ 1 year
€6k▼
2023 · €9k
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 · 2024 against 2023 · 44 lines
Balance sheet
Code20232024
Assets
Total assets20/58€277k€272k▼
Fixed assets21/28€128k€114k▼
Tangible fixed assets22/27€126k€111k▼
Land and buildings22€125k€111k▼
Plant, machinery and equipment23€327€174▼
Financial fixed assets28€2k€3k▲
Current assets29/58€149k€157k▲
Amounts receivable within one year40/41€6k€9k▲
Trade receivables40€6k€9k▲
Current investments50/53€115k€144k▲
Cash at bank and in hand54/58€28k€4k▼
Equity and liabilities
Total equity and liabilities10/49€277k€272k▼
Equity10/15€260k€257k▼
Contributions10/11€30k€30k=
Reserves13€224k€224k=
Non-distributable reserves130/1€0-
Reserves not available under the articles1311€0-
Distributable reserves133€224k€224k=
Profit (loss) carried forward14€-9k€-11k▼
Investment grants15€15k€13k▼
Provisions and deferred taxes16€5k€4k▼
Deferred taxes168€5k€4k▼
Amounts payable17/49€12k€11k▼
Amounts payable within one year42/48€9k€6k▼
Financial debts43€0-
Other loans439€0-
Trade debts44€6k€126▼
Suppliers440/4€6k€126▼
Other amounts payable47/48€3k€6k▲
Accrued charges and deferred income492/3€3k€5k▲
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€14k€14k▲
Other operating charges640/8€4k€4k▲
Gross operating margin9900€13k€11k▼
Operating profit (loss)9901€-5k€-7k▼
Financial income75/76B€2k€5k▲
Recurring financial income75€2k€5k▲
Financial charges65/66B€3k€133▼
Recurring financial charges65€3k€133▼
Profit (loss) for the period before taxes9903€-6k€-3k▲
Transfer from deferred taxes780€908€908=
Profit (loss) for the period9904€-5k€-2k▲
Profit (loss) for the period to be appropriated9905€-5k€-2k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-9k€-11k▼
Profit (loss) brought forward from the previous period14P€-3k€-9k▼
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €15k | €15k | €15k | €14k | €14k | ▲ 0.1% |
| Other operating charges640/8 | - | €3k | €3k | €4k | €4k | ▲ 8.4% |
| Gross operating margin9900 | €19k | €19k | €18k | €13k | €11k | ▼ 14.5% |
| Operating profit (loss)9901 | €730 | €576 | €5 | €-5k | €-7k | ▼ 40.7% |
| Financial income75/76B | - | €2k | €2k | €2k | €5k | ▲ 173% |
| Recurring financial income75 | €2k | €2k | €2k | €2k | €5k | ▲ 173% |
| Financial charges65/66B | - | €4k | €4k | €3k | €133 | ▼ 95.3% |
| Recurring financial charges65 | €4k | €4k | €4k | €3k | €133 | ▼ 95.3% |
| Profit (loss) for the period before taxes9903 | €-2k | €-2k | €-3k | €-6k | €-3k | ▲ 58.8% |
| Transfer from deferred taxes780 | - | €908 | €908 | €908 | €908 | = |
| Profit (loss) for the period9904 | €-647 | €-1k | €-2k | €-5k | €-2k | ▲ 68.7% |
| Profit (loss) for the period to be appropriated9905 | €-647 | €-1k | €-2k | €-5k | €-2k | ▲ 68.7% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €356k | €355k | €352k | €277k | €272k | ▼ 1.9% |
| Fixed assets21/28 | €170k | €156k | €141k | €128k | €114k | ▼ 10.5% |
| Tangible fixed assets22/27 | €169k | €154k | €139k | €126k | €111k | ▼ 11.3% |
| Land and buildings22 | - | €153k | €139k | €125k | €111k | ▼ 11.2% |
| Plant, machinery and equipment23 | - | - | - | €327 | €174 | ▼ 46.8% |
| Furniture and vehicles24 | - | €940 | €0 | - | - | - |
| Financial fixed assets28 | €824 | €2k | €1k | €2k | €3k | ▲ 35.7% |
| Current assets29/58 | €186k | €199k | €211k | €149k | €157k | ▲ 5.4% |
| Amounts receivable within one year40/41 | €4k | €9k | €5k | €6k | €9k | ▲ 52.2% |
| Trade receivables40 | - | €9k | €5k | €6k | €9k | ▲ 52.2% |
| Current investments50/53 | - | - | - | €115k | €144k | ▲ 25.3% |
| Cash at bank and in hand54/58 | €182k | €190k | €207k | €28k | €4k | ▼ 85.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €356k | €355k | €352k | €277k | €272k | ▼ 1.9% |
| Equity10/15 | €273k | €271k | €267k | €260k | €257k | ▼ 1.3% |
| Contributions10/11 | - | €30k | €30k | €30k | €30k | = |
| Reserves13 | €224k | €224k | €224k | €224k | €224k | = |
| Non-distributable reserves130/1 | - | €3k | €3k | €0 | - | - |
| Reserves not available under the articles1311 | - | €3k | €3k | €0 | - | - |
| Distributable reserves133 | - | €221k | €221k | €224k | €224k | = |
| Profit (loss) carried forward14 | €-817 | €-2k | €-3k | €-9k | €-11k | ▼ 19.0% |
| Investment grants15 | - | €19k | €17k | €15k | €13k | ▼ 11.8% |
| Provisions and deferred taxes16 | €8k | €7k | €6k | €5k | €4k | ▼ 17.2% |
| Deferred taxes168 | - | €7k | €6k | €5k | €4k | ▼ 17.2% |
| Amounts payable17/49 | €74k | €77k | €79k | €12k | €11k | ▼ 8.0% |
| Amounts payable after more than one year17 | €60k | - | - | - | - | - |
| Amounts payable within one year42/48 | €10k | €73k | €74k | €9k | €6k | ▼ 29.9% |
| Financial debts43 | - | €60k | €60k | €0 | - | - |
| Other loans439 | - | €60k | €60k | €0 | - | - |
| Trade debts44 | €2k | €3k | €2k | €6k | €126 | ▼ 97.9% |
| Suppliers440/4 | - | €3k | €2k | €6k | €126 | ▼ 97.9% |
| Other amounts payable47/48 | - | €10k | €12k | €3k | €6k | ▲ 116% |
| Accrued charges and deferred income492/3 | - | €4k | €4k | €3k | €5k | ▲ 55.8% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-647 | €-1k | €-2k | €-5k | €-2k | ▲ 68.7% |
| + Depreciation and write-downs630 | €15k | €15k | €15k | €14k | €14k | ▲ 0.1% |
| Operating cash flow (approximation) | €14k | €14k | €13k | €9k | €12k | ▲ 42.6% |
| Investment in fixed assets (approximation) | - | €-746 | €181 | €-1k | €-721 | ▲ 33.8% |
| Change in cash | - | €8k | €17k | €-179k | €-24k | ▲ 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.
Timeline · 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 €-5k
Net result drops to €-5k, 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 €74k to €9k.
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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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, 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 20112.196.203.031
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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Of 9,136 companies in sector 68201 we hold annual accounts for 6,765. 4,916 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
Founded04-02-2011
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
Scores and ratios are computed by Checked and are not a credit decision.