MS
Annual accounts 2025
micro format, filed on 21-08-2026, 21 days lateTurnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €190,000. Estimated: probably between €120,000 and €400,000.
Balance sheet
balance sheet total €56,475 on 31-12-2025in euro
in euro
Position in the sector
42.4%
Higher than 45% of 35,125 companies in 2025.
1.37
Higher than 36% of 34,499 companies in 2025.
-8.7%
Higher than 13% of 34,700 companies in 2025.
Net result: bottom quarter · Equity: middle half · Balance sheet total: bottom quarter · Working capital: middle half
Staff
€29,855
Staff costs divided by the average number of full-time equivalents.
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet: assets | |||||
20/58 |
56,475 | 64,381 | 74,138 | 83,945 | |
21/28 |
11,911 | 19,045 | 22,622 | 30,790 | |
22/27 |
10,831 | 17,965 | 22,622 | 30,790 | |
24 |
10,831 | 17,965 | 22,622 | 30,790 | |
28 |
1,080 | 1,080 | - | - | |
29/58 |
44,564 | 45,336 | 51,516 | 53,156 | |
40/41 |
40,193 | 42,336 | 24,757 | 19,607 | |
40 |
38,663 | 36,086 | 23,792 | 18,844 | |
41 |
1,530 | 6,249 | 965 | 763 | |
54/58 |
3,545 | 2,297 | 26,120 | 33,227 | |
490/1 |
826 | 703 | 639 | 322 | |
| Balance sheet: equity and liabilities | |||||
10/49 |
56,475 | 64,381 | 74,138 | 83,945 | |
10/15 |
23,948 | 28,885 | 24,310 | 42,181 | |
10/11 |
2,000 | 2,000 | 2,000 | 2,000 | |
14 |
21,948 | 26,885 | 22,310 | 40,181 | |
17/49 |
32,527 | 35,496 | 49,828 | 41,765 | |
17 |
- | 2,266 | 9,147 | 15,119 | |
170/4 |
- | 2,266 | 9,147 | 15,119 | |
42/48 |
32,527 | 33,230 | 40,681 | 26,646 | |
42 |
2,278 | 6,881 | 5,972 | 5,972 | |
44 |
25,475 | 13,644 | 8,368 | 4,438 | |
440/4 |
25,475 | 13,644 | 8,368 | 4,438 | |
46 |
- | 8,280 | 8,280 | - | |
45 |
1,269 | 1,800 | 15,417 | 16,236 | |
450/3 |
211 | - | 13,480 | 16,236 | |
454/9 |
1,058 | 1,800 | 1,937 | - | |
47/48 |
3,505 | 2,625 | 2,645 | - | |
| Income statement | |||||
9900 |
33,104 | 65,998 | 40,279 | 61,494 | |
62 |
29,855 | 49,931 | 47,599 | - | |
630 |
7,134 | 9,533 | 8,943 | 6,590 | |
640/8 |
328 | 359 | 414 | 298 | |
9901 |
-4,213 | 6,175 | -16,676 | 54,607 | |
75/76B |
- | - | 31 | 27 | |
75 |
- | - | 31 | 27 | |
65/66B |
724 | 1,600 | 1,225 | 973 | |
65 |
724 | 1,600 | 1,225 | 973 | |
9903 |
-4,937 | 4,574 | -17,870 | 53,661 | |
67/77 |
- | - | - | 13,480 | |
9904 |
-4,937 | 4,574 | -17,870 | 40,181 | |
9905 |
-4,937 | 4,574 | -17,870 | 40,181 | |
| Appropriation of the result | |||||
9906 |
21,948 | 26,885 | 22,310 | 40,181 | |
14P |
26,885 | 22,310 | 40,181 | - | |
| Social balance sheet | |||||
9087 |
1 | 1 | 1 | - | |
Hours worked1013 |
808 | 1,704 | 1,536 | - | |
| Document | |||||
The notes to these accounts have 5 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 21-08-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank2025 annual accounts filed 21 days after the deadline. Filed on 21 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00412362.
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| 2,921 | 15,707 | -7,734 | 61,197 | ||
| 2,197 | 14,107 | -8,928 | 46,771 | ||
| 0 | 5,955 | 775 | 37,379 | ||
| 1,248 | -23,822 | -7,107 | - | ||
| 12,037 | 12,106 | 10,835 | 26,510 | ||
| 42.4% | 44.9% | 32.8% | 50.2% | ||
| 1.37 | 1.36 | 1.27 | 1.99 | ||
| 1.36 | 1.23 | 2.05 | 0.99 | ||
| -20.6% | 15.8% | -73.5% | 95.3% | ||
| -8.7% | 7.1% | -24.1% | 47.9% | ||
| 4.04 | 9.82 | -6.31 | 62.87 |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Social balance sheet
| Item | 31-12-2025 | 31-12-2024 | 31-12-2023 |
|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 1 |
| full-time | 1 | 1 | 1 |
| in full-time equivalents | 1 | 1 | 1 |
| 1 | 1 | 1 | |
| On a permanent contract | 1 | 1 | 1 |
| Joined | - | - | 1 |
| Left | - | - | 0 |
Source: social balance sheet in the 2023 to 2025 annual accounts
Securities and guarantees
on own assets and for others| Item | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Pledge on other assets, amount secured | - | - | €16,609 | - |
| Carrying value of the other pledged assets | - | - | €16,609 | - |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Tangible fixed assets | - | €4,875 | €775 | €37,379 |
| Financial fixed assets | - | €1,080 | - | - |
| €7,134 | €9,533 | €8,943 | €6,590 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Insights on MS
The operating result for 2025 is a loss of €4,213, after a profit of €6,175 in 2024.
Debt's share of the balance-sheet total rises from 55.1% to 57.6%. Equity and debt are lower.