Turnover
≈ €190,000 estimated
The micro format states no turnover.
MS
Overview
Lifetime
4 annual accounts with figures on one time axispeak €65,998 (2024)
€33,104▼ 49.8%
lowest -€17,870 (2023)
-€4,937▼ €9,511
peak €42,181 (2022)
€23,948▼ 17.1%
€32,527▼ 8.4%
Board2 names since 2021
2 directorsThomas Magos and 1 other
Documentsfilings and deeds
21-08-202621 days late
2025micro format
Gross margin from €65,998 to €33,104Loss of €4,937Equity from €28,885 to €23,948Cash from €2,297 to €3,545
Key points
from the 2025 annual accountsFilings
4 annual accounts 3 late
The 2022 accounts came latest: 57 days after the end of the period.
Position in the sector
-€4,937
Lower net result than 83% of companies in specialised construction. Sector median €10,189 · 35,113 companies.
Checked score
48
Fair
Financially stronger than 26% of micro companies in specialised construction (NACE 43)
Probability in this band: 1.5% to 4.2%
Bankruptcy probability within 12 months
3.6% Moderate
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.7% across 47,693 companies (NACE 43, micro).
About 4 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 1.6%
01-2025: 1.6%● unchanged vs 12-2024lowest value
02-2025: 1.6%● unchanged vs 01-2025lowest value
03-2025: 1.6%● unchanged vs 02-2025
04-2025: 1.6%● unchanged vs 03-2025
05-2025: 1.7%▲ +0.1 percentage points vs 04-2025
06-2025: 1.6%▼ -0.1 percentage points vs 05-2025
07-2025: 1.7%▲ +0.1 percentage points vs 06-2025
08-2025: 2.4%▲ +0.7 percentage points vs 07-2025
09-2025: 2.8%▲ +0.4 percentage points vs 08-2025
10-2025: 2.7%▼ -0.1 percentage points vs 09-2025
11-2025: 2.7%● unchanged vs 10-2025
12-2025: 2.7%● unchanged vs 11-2025
01-2026: 2.6%▼ -0.1 percentage points vs 12-2025
02-2026: 2.6%● unchanged vs 01-2026
03-2026: 2.6%● unchanged vs 02-2026
04-2026: 2.6%● unchanged vs 03-2026
05-2026: 2.7%▲ +0.1 percentage points vs 04-2026
06-2026: 5.2%▲ +2.5 percentage points vs 05-2026
07-2026: 5.0%▼ -0.2 percentage points vs 06-2026
08-2026: 5.6%▲ +0.6 percentage points vs 07-2026highest value
09-2026: 3.5%▼ -2.1 percentage points vs 08-2026
10-2026: 3.6%▲ +0.1 percentage points vs 09-2026
11-2026: 3.6%● unchanged vs 10-2026
Financial strengthAverage
Score breakdown
raises risk
Founded in 2021
Last filed accounts filed 21 days late; 1 of the last 3 accounts late
1 change of registered office in 24 months
lowers risk
Figures for financial year 2025 (filed on 21-08-2026)
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 43, micro). It does better than 45% of them on solvency, 17% on liquidity, 20% on profitability and 20% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the moderate class on 30-06-2025, 2.4% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 2,145 companies had the same profile as MS has now. Each dot stands for 6 companies, two years later.
91.7%
were still trading
5.9%
stopped another way
2.2%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of MS itself is higher: 3.6% within 12 months. It rests on far more data about MS than the profile alone.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 2,145 companies, not a prediction for MS. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €1,000 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.37 (1.36 in 2024), below the usual 1.5. Short-term debt is 57.6% and cash 6.3% of total assets. 57.6% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises risk
raises risk · 2025 accounts filed 21 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 21-08-2026, 21 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 4 filingsDeviation from the deadline
2025
21 days late
2024
35 days late
2023
41 days early
2022
57 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 4 accounts on average 18 days after the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 28 August (3 of the last 4 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered office moved within Grez-Doiceau
New registered office: Rue des Bruyères 33, 1390 Grez-Doiceau · Previous registered office: Rue du Chaufour 8, 1390 Grez-Doiceau · Board meeting of 12-03-2026 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0778512201
Appointment: Thomas Magos (director)
Gazette deed
Publication in the Belgian Official Gazette
Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| MS Grez-Doiceau | €56,475 | €33,104 | 42.4% | - |
| R. Driesen Grond- en Bestratingswerken Balen | €62,403 | €30,713 | 61.3% | - |
| Joachim Hanssens Merelbeke-Melle | €59,800 | €39,337 | 51.8% | - |
| Stefania Anderlecht | €52,667 | €33,469 | 55.4% | - |
| ZEYD Heusden-Zolder | €60,454 | €34,828 | 54.7% | - |
| VB Grondwerken Bornem | €63,338 | €40,344 | 75.9% | - |
| VS Works Beerse | €63,167 | €38,365 | 67.2% | - |
These companies have the same main activity as MS: site preparation (NACE 43120). They are comparable in size and age: total assets between €52,700 and €63,300, founded between 2021 and 2022.
Official details
Source: KBO- Status
- Active since 10-12-2021Normal situation
- Activity
- Site preparationNACE 43120and 3 others
- Establishment unit
- 2.327.079.3891390 Grez-Doiceau, since 10-12-2021
- Financial year end
- 31 December
- Peppol
- Reachable since 16-12-2025
Annual accounts 2025
- €33,104▼ 49.8%
- €4,937
- €23,948▼ 17.1%
- €56,475▼ 12.3%
- Employeeson 31-12-2025
- 1=
- Filing
- Filed on 21-08-2026
Insights on MS
MS files the micro format. That format states no turnover. The gross margin fell from €61,494 in 2022 to €33,104 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Financials
Annual accounts 2025
micro format, filed on 21-08-2026, 21 days late€33,104
▼ 49.8%
-€4,213
▼ €10,388
-€4,937
▼ €9,511
€12,037
▼ 0.6%
42.4%
▼ 2.5 percentage points
1.37
▲ 0.01
Turnover 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 31-12-2025What the company ownsHow it is paid for
in 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.
MS
Middle half of the sector
80% of the sector
Micro accounts in specialised construction (NACE 43)
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.
people who joined
people who left
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.
Board & ownership
Board
2 directors, no change since December 2021Director (not named in the articles)
appointed by deed of 14-12-2021
term without a fixed end
- Signing authorityThe articles say who may bind the company, for example by signing a contract.
- Each director alonedeed of 14-12-2021
Mandates through the years
2 names, the dashed line is todayThomas Magos
Director
Director
MAGOS,SimonFrançoisJoseph
Director (not named in the articles)
Director (not named in the articles)
Board
Mandates as a list
- Thomas Magos
- Director, from 13-12-2021 to date
- MAGOS,SimonFrançoisJoseph
- Director (not named in the articles), appointed by deed of 14-12-2021, still in office
Control
Founder
MAGOS,Simon François Joseph
This company
MS
Equity €23,948
Loss €4,937 in 2025
Capital
- Contribution
- €2,000
- Shares
- 100
- Contribution per share
- €20
- Equity per share
- €239 in 2025
- Source
- deed of 14-12-2021
Articles of association
deed of 14-12-2021 (in French)- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimited
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- At least 1 director
- Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
- “Moitié cédant,moitié acquéreurs proportionnellement, mêmes formalités si non actionnaires de plein droit”
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- First Friday of May at 18:00
Founder
At incorporation
deed of 14-12-2021 ↗
- MAGOS,Simon François Joseph sole founder · 100% at incorporation
Capital transactions
Capital over time
- 14-12-2021 Incorporation · €2,000
- 14-12-2021 Incorporation · 100 shares
Network & group
No group
MS has no parent and no holdings in its annual accounts. MS shares no director with another company.
Timeline
Timeline
12 events since 2021Board
Filings
Financial
Establishments
Address
Other
202220242026
Deadline for the 2026 accounts: 31-07-2027
2026
Annual accounts 2025 filed NBBmicro format · 21 days late
Registered office moved within Grez-DoiceauNew registered office: Rue des Bruyères 33, 1390 Grez-Doiceau · Previous registered office: Rue du Chaufour 8, 1390 Grez-Doiceau · Board meeting of 12-03-20262 points ▸
- Board meeting, 12-03-2026
- Registered-office move, Rue des Bruyères 33, 1390 Grez-Doiceau
2025
Registered in the Peppol Directory Reachable for e-invoices through 0208:0778512201
Annual accounts 2024 filed PDFmicro format · 35 days late
2024
Back to profit net €4,574 The net result is €4,574, after one loss-making year.
Annual accounts 2023 filed PDFmicro format · 41 days before the deadline
2023
Weakest financial year net -€17,870 The net result drops to -€17,870, the lowest from 2022 to 2025. It recovers the following year.
Annual accounts 2022 filed PDFmicro format · 57 days late
2022
Appointment: Thomas Magos (director)1 point ▸
- Director appointment, Thomas Magos
- The deed holds 1 more point.
Publication in the Belgian Official Gazette PDF
2021
IncorporationFounding capital of €2,000 · Founder: MAGOS, Simon François Joseph · Appointment: MAGOS, SimonFrançoisJoseph (director) · published on 14-12-20215 points ▸
- Founder, MAGOS, Simon François Joseph
- Founding capital, €2,000
- Registered office clause, 1390Grez-Doiceau, rueduChaufour8
- Board rule, 1
- Director appointment, MAGOS, SimonFrançoisJoseph (director (not named in the articles))
- The deed holds 5 more points.
First establishment Rue des Bruyères 33, Grez-Doiceau
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
History
MS was incorporated on 10 December 2021 as a private limited company by one natural person, with a starting capital of €2,000.12 The registered office was moved to Grez-Doiceau in 2026.3 The board currently has 2 members.4 Total assets fell from €83,945 in 2022 to €56,475 in 2025 and headcount from 1 full-time equivalents in 2023 to 1 in 2025.5
Company details
Identity
- Enterprise number
- 0778.512.201
- VAT number
- BE 0778.512.201
- Peppol ID
- 0208:0778512201
- Legal form
- Private limited company
- Status
- Active, normal situation
- Founded
- 10-12-2021
- Financial year
- ends on 31 December
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- First Friday of May at 18:00deed of 14-12-2021 (in French)
- Peppol
- Reachable since 16-12-2025Follow this company and you will hear the next morning if it leaves the Peppol register.
- Name
- MS in French
- Entity type
- Legal entity
- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimiteddeed of 14-12-2021 (in French)
Activities
NACEBEL 2025VAT activities
43120
Site preparation main activity
43230
Insulation installation
Social security (RSZ) activities
41001
General construction of residential buildings main activity
Codes under NACEBEL 2008
VAT activities
43120
Site preparation main activity
43291
Specialised construction activities
43390
Specialised construction activities
Social security (RSZ) activities
41201
General construction of buildings main activity
- PurposeThe purpose describes the activities the company may carry out under its articles.
- “Création et entretien de jardins,placement de clôtures,entretien et aménagement de plaines de jeux et de sports,y compris les travaux de…”deed of 14-12-2021 (in French)
9 activities
- Création et entretien de jardins,placement de clôtures,entretien et aménagement de plaines de jeux et de sports,y compris les travaux de plantation,élagage d'arbres,démoussage
- Les travaux de ramonage de cheminées
- L'exécution de travaux de rejointoiement
- Le nettoyage à la vapeur,le sablage des parties extérieures des bâtiments et activités analogues,nettoyage des bâtiments,nettoyage industriel
- Les travaux d'isolation de sites
- Tous travaux de préparation des sites,notamment le déblayage des chantiers,montage et démontage d'échafaudage
- Toute autre activité de soutien aux entreprises,en direct ou en sous-traitance
- La coordination de chantier,l’entreprise générale de construction,…
- La constitution d’un patrimoine immobilier et sa gestion,l’achat,la vente,la location,la mise en valeur de tout patrimoine immobilier,rien excepté,à l’exception des opérations de courtage réglementée
Registered office and establishments
1 establishment| Establishment | Since | Unit number |
|---|---|---|
| Rue des Bruyères 33 registered office 1390 Grez-Doiceau | 10-12-2021 | 2.327.079.389 |
Buildings and parcels at the address
- Ground area
- 89 m²
- Buildings
- 94 m²
- Volume, LiDAR
- 405 m³
- Tallest building
- 6.3 m
Buildings to scale, each on its own parcel
Parcels
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 25008A0189/00K000 | 89 m² | 1 · 94 m² | 6.3 m · 1 |
Invoicing and payment
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0778.512.201