MS
InactiveMS was declared bankrupt on 16-01-2024 (Ondernemingsrechtbank Brussel); the bankruptcy was closed for insufficient assets by judgment of 08-10-2024, published in the Belgian State Gazette on 15-10-2024.
No longer registered with the KBO; last annual accounts for fiscal year 2023.
Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Two or more financial years not filed
Since the financial year that closed on 30-09-2024, 2 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 3 filingsPosition against the passed deadline
30-09-2024 close30-04-2025 deadline21-09-2026 today
neutral · Filed after the deadline
The financial year that closed on 30-09-2023 was due by 30-04-2024 and was filed on 30-05-2024, 30 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 · 3 filingsDeviation from the deadline
2025
not filed
2024
not filed
2023
30 d late
2022
30 d late
2021
30 d late
← before the deadline
after the deadline →
Financials · fiscal year 2023, micro schema
Equity
€-44k
2022 · €10k
2021: €3k
2022: €10k
2021 → 2023
Total assets
€13k▼ 86.4%
2022 · €92k
2021: €21k
2022: €92k
2021 → 2023
Net result
€-54k
2022 · €7k
2021: €1k
2022: €7k
2021 → 2023
Working capital
€-43k▼ 441%
2022 · €-8k
2021: €-15k
2022: €-8k
2021 → 2023
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line202120222023Trend
Equity€3k-€10k▲ 228%€-44k
Operating result€2k-€18k▲ 871%€-53k
Net result€1k-€7k▲ 371%€-54k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2023: a loss of €53k after €18k in 2022, the lowest result in the available series.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €13k
Fixed assets
€6k▼ 65.2%
Current assets
€6k▼ 91.4%
Key figures and ratios
EBITDA
€-46k▼
2022 · €23k
Cash flow
€-47k▼
2022 · €12k
Solvency
-349.9%▼
2022 · 10.3%
Current ratio
0.13▼
2022 · 0.90
Quick ratio
0.13▼
2022 · 0.90
Debt / equity
-1.29▼
2022 · 8.71
ROA
-425.5%▼
2022 · 7.2%
Interest coverage
-46.83▼
2022 · 2.65
Debt
€57k▼
2022 · €83k
Debt ≤ 1 year
€49k▼
2022 · €83k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2023 against 2022
Balance sheet
Code20222023
Assets
Total assets20/58€92k€13k▼
Formation expenses20€0€0=
Fixed assets21/28€18k€6k▼
Intangible fixed assets21€7k€4k▼
Tangible fixed assets22/27€8k€2k▼
Plant, machinery and equipment23€2k€1k▼
Furniture and vehicles24€6k€382▼
Financial fixed assets28€3k-
Current assets29/58€75k€6k▼
Amounts receivable within one year40/41€47k€6k▼
Trade receivables40€15k€0▼
Other amounts receivable41€32k€6k▼
Cash at bank and in hand54/58€28k-
Deferred charges and accrued income490/1€100€252▲
Equity and liabilities
Total equity and liabilities10/49€92k€13k▼
Equity10/15€10k€-44k▼
Contributions10/11€2k€2k=
Profit (loss) carried forward14€8k€-46k▼
Amounts payable17/49€83k€57k▼
Amounts payable within one year42/48€83k€49k▼
Current portion of amounts payable after more than one year42€0€0=
Trade debts44€50k€17k▼
Suppliers440/4€50k€17k▼
Taxes, remuneration and social security45€26k€20k▼
Taxes450/3€14k€14k=
Remuneration and social security454/9€12k€6k▼
Other amounts payable47/48€6k€12k▲
Accrued charges and deferred income492/3€190€7k▲
Income statement
Code20222023
Remuneration, social security and pensions62€87k-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€5k€6k▲
Other operating charges640/8€1k€11k▲
Non-recurring operating charges66A-€5k
Gross operating margin9900€111k€-30k▼
Operating profit (loss)9901€18k€-53k▼
Financial income75/76B€4€0▼
Recurring financial income75€4€0▼
Financial charges65/66B€9k€993▼
Recurring financial charges65€9k€993▼
Profit (loss) for the period before taxes9903€9k€-54k▼
Income taxes67/77€2k-
Profit (loss) for the period9904€7k€-54k▼
Profit (loss) for the period to be appropriated9905€7k€-54k▼
Appropriation of the result
Profit (loss) to be appropriated9906€8k€-46k▼
Profit (loss) brought forward from the previous period14P€1k€8k▲
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2024
15-10
Bankruptcy
Bankruptcy closure (insufficient assets)
Ondernemingsrechtbank Brussel · MS BRUSSEL- SESTEENWEG 18 A, 1730 ASSE · event 08-10-2024
30-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
22-01
Bankruptcy
Opening
Ondernemingsrechtbank Brussel · MS BRUSSELSESTEENWEG 18 A, 1730 ASSE · event 16-01-2024
2023
30-09
Financial
Weakest financial yearnet €-54k ▼911%
Net result drops to €-54k, the lowest in the series.
30-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
30-09
Financial
Highest result since 2021net €7k ▲371%
Operating result €18k, net result €7k, both a record.
30-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
4 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
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | JENS VREBOS EZELSTRAAT 25, 8000 BRUGGE- |
16-01-2024 → present |