MS
ActiveSummary
The computed 12-month bankruptcy probability of MS is 1.9% (moderate). For MS, one filing cycle of the annual accounts is missing. The 2024 annual accounts show equity of €22,587. Equity is shrinking by about 5.5% per year across the filed financial years. Its solvency ranks better than 95% of 1,123 sector peers (NACE 49, financial year 2024). The company has been active since 2015 and the Belgian Official Gazette contains no insolvency or warning signals.
Financials · financial year 2024, full format
2025 annual accounts not yet filed, deadline passed on 31 July 2026 Financial year closed on 31 December 2025; filing due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 30 October 2026.
2020 to 2024, 5 financial years 2018 to 2024, 7 financial years
The operating result stays negative: a loss of €1,479 in 2023 against €3,921 in 2022; the loss shrinks.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 49, Land transport and transport via pipelines: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Turnover70 | €322,517 | - | - | - | - | - | - | - |
| Non-recurring operating income76A | - | - | - | - | €577 | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | - | - | €159 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €159 | €204 | €181 | €528 | €577 | €532 | - | - |
| Other operating charges640/8 | - | - | - | €944 | €2,119 | €788 | - | - |
| Gross operating margin9900 | -€2,763 | -€5,536 | €5,322 | €427 | -€1,225 | - | - | - |
| Operating profit (loss)9901 | -€4,621 | -€7,324 | €4,203 | -€1,044 | -€3,921 | -€1,479 | - | - |
| Financial income75/76B | - | - | - | €290 | - | - | - | - |
| Recurring financial income75 | - | €0 | - | €0 | - | - | - | - |
| Non-recurring financial income76B | - | - | - | €290 | - | - | - | - |
| Financial charges65/66B | - | - | - | €143 | €153 | €96 | - | - |
| Recurring financial charges65 | €155 | €131 | €139 | €143 | €153 | €96 | - | - |
| Profit (loss) for the period before taxes9903 | -€4,776 | -€6,889 | €4,399 | -€897 | -€4,074 | -€1,575 | - | - |
| Income taxes67/77 | €88 | - | - | - | - | - | - | - |
| Profit (loss) for the period9904 | -€4,865 | -€6,889 | €4,399 | -€897 | -€4,074 | -€1,575 | - | - |
| Profit (loss) for the period to be appropriated9905 | -€4,865 | -€6,889 | €4,399 | -€897 | -€4,074 | -€1,575 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €56,674 | €49,787 | €35,870 | €28,831 | €28,437 | €22,661 | €22,661 | = |
| Fixed assets21/28 | €159 | €679 | €498 | €1,583 | €1,006 | €474 | €474 | = |
| Tangible fixed assets22/27 | €159 | €679 | €498 | €1,583 | €1,006 | €474 | €474 | = |
| Plant, machinery and equipment23 | - | - | - | €317 | €136 | - | - | - |
| Furniture and vehicles24 | - | - | - | €1,266 | €870 | €474 | €474 | = |
| Current assets29/58 | €56,515 | €49,108 | €35,372 | €27,248 | €27,431 | €22,187 | €22,187 | = |
| Stocks and contracts in progress3 | €36,074 | €25,062 | €11,209 | €2,400 | - | - | - | - |
| Stocks30/36 | - | - | - | €2,400 | - | - | - | - |
| Amounts receivable within one year40/41 | €197 | €5,193 | €4,306 | €815 | €788 | - | - | - |
| Other amounts receivable41 | - | - | - | €815 | €788 | - | - | - |
| Cash at bank and in hand54/58 | €15,961 | €15,067 | €15,030 | €19,172 | €21,331 | €16,875 | €16,875 | = |
| Deferred charges and accrued income490/1 | - | - | - | €4,861 | €5,312 | €5,312 | €5,312 | = |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €56,674 | €49,787 | €35,870 | €28,831 | €28,437 | €22,661 | €22,661 | = |
| Equity10/15 | €31,624 | €24,734 | €29,134 | €28,237 | €24,162 | €22,587 | €22,587 | = |
| Contributions10/11 | €16,800 | €16,800 | €16,800 | €16,800 | €16,800 | €16,800 | €16,800 | = |
| Capital10 | - | - | - | €16,800 | €16,800 | €16,800 | €16,800 | = |
| Issued capital100 | - | - | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Uncalled capital101 | - | - | - | €1,800 | €1,800 | €1,800 | €1,800 | = |
| Reserves13 | €231 | €231 | €451 | €451 | €451 | €451 | €451 | = |
| Non-distributable reserves130/1 | - | - | - | €451 | €451 | €451 | €451 | = |
| Legal reserve130 | - | - | - | €451 | €451 | €451 | €451 | = |
| Profit (loss) carried forward14 | €14,593 | €7,704 | €11,883 | €10,986 | €6,912 | €5,337 | €5,337 | = |
| Amounts payable17/49 | €25,050 | €25,052 | €6,736 | €594 | €4,275 | €74 | €74 | = |
| Amounts payable within one year42/48 | €25,050 | €25,052 | €6,736 | €594 | €4,275 | €74 | €74 | = |
| Trade debts44 | €10,050 | €10,052 | €6,736 | €277 | €675 | - | - | - |
| Suppliers440/4 | - | - | - | €277 | €675 | - | - | - |
| Other amounts payable47/48 | - | - | - | €317 | €3,600 | €74 | €74 | = |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€4,865 | -€6,889 | €4,399 | -€897 | -€4,074 | -€1,575 | - | - |
| + Depreciation and write-downs630 | €159 | €204 | €181 | €528 | €577 | €532 | - | - |
| Operating cash flow (approximation) | -€4,706 | -€6,685 | €4,580 | -€369 | -€3,497 | -€1,043 | - | - |
| Investment in fixed assets (approximation) | - | -€724 | €0 | -€1,613 | €0 | €0 | €0 | - |
| Change in cash | - | -€894 | -€37 | €4,143 | €2,159 | -€4,456 | €0 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (10)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2024 | full format | 13-11-2025 | 2025-00568804 |
| 31-12-2023 | full format | 13-11-2025 | 2025-00568684 |
| 31-12-2022 | full format | 07-05-2024 | 2024-00083776 |
| 31-12-2021 | full format | 18-11-2022 | 2022-20521969 |
| 31-12-2020 | full format | 31-08-2021 | 2021-62600478 |
| 31-12-2019 | full format | 24-09-2020 | 2020-55500527 |
| 31-12-2018 | full format | 30-08-2019 | 2019-57300493 |
| 31-12-2017 | full format | 29-08-2018 | 2018-53800265 |
| 31-12-2016 | full format | 29-09-2017 | 2017-65300287 |
| 31-12-2015 | full format | 31-10-2016 | 2016-67200204 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.