MS
ActiveSummary
MS has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €61,538 and a net result of €46,966. Equity is growing by ~16% per year across the filed fiscal years. Its solvency ranks better than 62% of 13604 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.3% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+63
Solvency70▼-26
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
1.3%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3,500 at 30 days acceptable
Liquidity tight (current ratio 1.43 against 2.17 in 2024; short-term debt: 55.2% and cash: 5% of total assets), and 55.2% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 56
Relative position
BE, all sectors
reference
Food and beverage service activities (NACE 56)
about 206% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
44.8%
Return on assets
34.2%
Age of the figures
15 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 31-12-2025, 31 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
31 d early
2024
31 d early
2023
35 d early
2022
34 d early
2021
32 d early
2020
33 d early
2019
37 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 33 days before the deadline; the sector median for financial year 2024 is 6 days after the deadline, and 52% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today. Usually files around 30 December (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-06-2026 close28-09-2026 today31-01-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
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Financials · fiscal year 2025, micro schema
Equity
€61,538▲ 12.8%
2024 · €54,572
Total assets
€137,287▲ 79.5%
2024 · €76,481
Net result
€46,966
2024 · -€369
Working capital
€32,228▲ 25.3%
2024 · €25,728
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 56, Food and beverage service activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€10,192€18,066▲ 77.3%€16,371▼ 9.4%-€889€63,508
Net result€10,075within the sector's middle half€17,699within the sector's middle half▲ 75.7%€13,857within the sector's middle half▼ 21.7%-€369within the sector's middle half€46,966above the sector's middle half
Equity€23,385within the sector's middle half▲ 75.7%€41,084within the sector's middle half▲ 75.7%€54,941within the sector's middle half▲ 33.7%€54,572within the sector's middle half▼ 0.7%€61,538within the sector's middle half▲ 12.8%
Total assets€29,033below the sector's middle half▼ 19.6%€47,109within the sector's middle half▲ 62.3%€73,329within the sector's middle half▲ 55.7%€76,481within the sector's middle half▲ 4.3%€137,287within the sector's middle half▲ 79.5%
Debt€5,648▼ 75.2%€6,025▲ 6.7%€18,388▲ 205%€21,909▲ 19.1%€75,749▲ 246%
Working capital€10,269within the sector's middle half€36,812within the sector's middle half▲ 258%€51,424above the sector's middle half▲ 39.7%€25,728within the sector's middle half▼ 50.0%€32,228within the sector's middle half▲ 25.3%
Solvency80.5%above the sector's middle half▲ 43.7pp87.2%above the sector's middle half▲ 6.7pp74.9%above the sector's middle half▼ 12.3pp71.4%above the sector's middle half▼ 3.6pp44.8%within the sector's middle half▼ 26.5pp
Current ratio2.82above the sector's middle half▲ 2.098.33above the sector's middle half▲ 5.513.96above the sector's middle half▼ 4.372.17above the sector's middle half▼ 1.781.43within the sector's middle half▼ 0.75
Return on assets (ROA)34.7%above the sector's middle half▲ 81.8pp37.6%above the sector's middle half▲ 2.9pp18.9%above the sector's middle half▼ 18.7pp-0.5%within the sector's middle half▼ 19.4pp34.2%above the sector's middle half▲ 34.7pp
above
within
below
the middle half (P25 to P75) of NACE 56, Food and beverage service activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €63,508 after a loss of €889 in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €137,287
Fixed assets
€29,310 ▲ 1.6%
Current assets
€107,977 ▲ 127%
Equity and liabilities €137,287
Equity
€61,538 ▲ 12.8%
Debt
€75,749 ▲ 246%
Debt's share of the balance-sheet total rises from 28.6% to 55.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€68,525▲
2024 · €1,628
Cash flow
€51,983▲
2024 · €2,148
Quick ratio
1.37▼
2024 · 2.16
Debt to equity
1.23▲
2024 · 0.40
ROE
76.3%▲
2024 · -0.7%
Interest coverage
81.09▲
2024 · 2.29
Debt ≤ 1 year
€75,749▲
2024 · €21,909
Income taxes
€15,701▲
2024 · -€1,231
Staff costs
€11,240▼
2024 · €12,035
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,349 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.4%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.3% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 31,349 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €52,017 | - |
| Remuneration, social security and pensions62 | - | €13,833 | €23,191 | €12,035 | €11,240 | ▼ 6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,728 | €7,844 | €755 | €2,517 | €5,017 | ▲ 99.3% |
| Other operating charges640/8 | - | €1,276 | €1,276 | €1,313 | €1,316 | ▲ 0.2% |
| Non-recurring operating charges66A | - | - | €2,400 | €454 | €2,782 | ▲ 513% |
| Gross operating margin9900 | €22,277 | €41,019 | €43,993 | €15,430 | €83,863 | ▲ 444% |
| Operating profit (loss)9901 | €10,192 | €18,066 | €16,371 | -€889 | €63,508 | ▲ 7,244% |
| Financial income75/76B | - | - | - | - | €4 | - |
| Recurring financial income75 | €36 | - | - | - | €4 | - |
| Financial charges65/66B | - | €367 | €314 | €711 | €845 | ▲ 18.8% |
| Recurring financial charges65 | €153 | €367 | €314 | €711 | €845 | ▲ 18.8% |
| Profit (loss) for the period before taxes9903 | €10,075 | €17,699 | €16,057 | -€1,600 | €62,667 | ▲ 4,017% |
| Income taxes67/77 | - | - | €2,200 | -€1,231 | €15,701 | ▲ 1,375% |
| Profit (loss) for the period9904 | €10,075 | €17,699 | €13,857 | -€369 | €46,966 | ▲ 12,828% |
| Profit (loss) for the period to be appropriated9905 | €10,075 | €17,699 | €13,857 | -€369 | €46,966 | ▲ 12,828% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €29,033 | €47,109 | €73,329 | €76,481 | €137,287 | ▲ 79.5% |
| Fixed assets21/28 | €13,116 | €5,272 | €4,517 | €28,844 | €29,310 | ▲ 1.6% |
| Tangible fixed assets22/27 | €12,907 | €5,063 | €4,308 | €28,635 | €29,101 | ▲ 1.6% |
| Plant, machinery and equipment23 | - | €5,063 | €4,308 | €28,635 | €29,101 | ▲ 1.6% |
| Financial fixed assets28 | €209 | €209 | €209 | €209 | €209 | = |
| Current assets29/58 | €15,917 | €41,837 | €68,812 | €47,637 | €107,977 | ▲ 127% |
| Stocks and contracts in progress3 | €411 | €306 | €281 | €355 | €4,505 | ▲ 1,169% |
| Stocks30/36 | - | €306 | €281 | €355 | €4,505 | ▲ 1,169% |
| Amounts receivable within one year40/41 | €3,649 | €3,550 | €158 | €11,474 | €95,574 | ▲ 733% |
| Trade receivables40 | - | - | - | €15 | €48 | ▲ 220% |
| Other amounts receivable41 | - | €3,550 | €158 | €11,459 | €95,526 | ▲ 734% |
| Cash at bank and in hand54/58 | €11,857 | €37,981 | €68,373 | €35,808 | €6,898 | ▼ 80.7% |
| Deferred charges and accrued income490/1 | - | - | - | - | €1,000 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €29,033 | €47,109 | €73,329 | €76,481 | €137,287 | ▲ 79.5% |
| Equity10/15 | €23,385 | €41,084 | €54,941 | €54,572 | €61,538 | ▲ 12.8% |
| Contributions10/11 | - | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €13,877 | ▲ 646% |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | - | - | - | €12,017 | - |
| Profit (loss) carried forward14 | €9,125 | €26,824 | €40,681 | €40,312 | €35,261 | ▼ 12.5% |
| Amounts payable17/49 | €5,648 | €6,025 | €18,388 | €21,909 | €75,749 | ▲ 246% |
| Amounts payable within one year42/48 | €5,648 | €5,025 | €17,388 | €21,909 | €75,749 | ▲ 246% |
| Financial debts43 | - | - | - | €10,985 | €6,600 | ▼ 39.9% |
| Credit institutions430/8 | - | - | - | €10,985 | €6,600 | ▼ 39.9% |
| Trade debts44 | €4,252 | €3,508 | €11,581 | €9,003 | €5,920 | ▼ 34.2% |
| Suppliers440/4 | - | €3,508 | €11,581 | €9,003 | €5,920 | ▼ 34.2% |
| Taxes, remuneration and social security45 | - | €1,517 | €5,807 | €1,921 | €35,229 | ▲ 1,734% |
| Taxes450/3 | - | €51 | €2,534 | €155 | €32,347 | ▲ 20,769% |
| Remuneration and social security454/9 | - | €1,466 | €3,273 | €1,766 | €2,882 | ▲ 63.2% |
| Other amounts payable47/48 | - | - | - | - | €28,000 | - |
| Accrued charges and deferred income492/3 | - | €1,000 | €1,000 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €10,075 | €17,699 | €13,857 | -€369 | €46,966 | ▲ 12,828% |
| + Depreciation and write-downs630 | €7,728 | €7,844 | €755 | €2,517 | €5,017 | ▲ 99.3% |
| Operating cash flow (approximation) | €17,803 | €25,543 | €14,612 | €2,148 | €51,983 | ▲ 2,320% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€26,844 | -€5,483 | ▲ 79.6% |
| Change in cash | - | €26,124 | €30,392 | -€32,565 | -€28,910 | ▲ 11.2% |
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
Next filing, fiscal year 2026, expected by
2025
31-12
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
30-06
Financial
Back to profitnet €46,966
Net result €46,966 after one loss-making year.
2024
31-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
27-12
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2022
28-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
30-06
Financial
Liquidity triplescurrent ratio 8.33
Current ratio from 2.82 to 8.33; short-term debt falls from €5,648 to €5,025.
2021
30-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
30-06
Financial
Back to profitnet €10,075
Net result €10,075 after one loss-making year.
30-06
Financial
Liquidity quadruplescurrent ratio 2.82
Current ratio from 0.73 to 2.82; short-term debt falls from €22,796 to €5,648.
2020
29-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
30-06
Financial
Weakest financial yearnet -€17,020
Net result drops to -€17,020, the lowest in the series; recovery starts the following year.
2019
25-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Show earlier events
2018
26-12
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
29-12
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2016
26-12
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB 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, Morlanwelz · 1 establishment unit since 2003
Ground area
864 m²
Building footprint
179 m²
Volume, LiDAR
1,757 m³
2 parcels, Wallonia · tallest building 11.6 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
FRITERIE CARNIEROISE
since 20032.133.425.225
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 56015B0096/00X000indicative | Wallonia | 450 m² | 1 · 116 m² | 11.6 m · 3 fl. |
| 56015A0801/00B002 | Wallonia | 414 m² | 1 · 63 m² | 10.7 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
1 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
1 siteMorlanwelz2.133.425.225
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Of 21,859 companies in sector 56112 we hold annual accounts for 9,783. 8,275 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
Founded11-08-2003
Fiscal year end30-06
Activities, NACEBEL 2025
56112Limited-service restaurants, excluding mobile food services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0860023180
Also
9925:BE0860023180
Registered
03-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.