MS 28
ActiveSummary
The computed 12-month bankruptcy probability of MS 28 is 3.0% (moderate). The 2024 annual accounts show equity of €26k and a net result of €-4k. Equity is growing by ~15.8% per year across the filed fiscal years. Its solvency ranks better than 51% of 26043 sector peers (fiscal year 2024). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability26▼-66
Solvency59▼-21
Growth52▼-26
Track record94
Bankruptcy probability, 12 months
3.0%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €1k at 30 days acceptable
Liquidity ample (current ratio 1.53 against 2.21 in 2023; short-term debt: 65.2% and cash: 30% of total assets), but 66.2% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
33.8%
Return on assets
-4.5%
Age of the figures
21 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 28-10-2025, 89 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 confirmed
2024
89 d late
2023
420 d late
2022
74 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€26k▼ 11.8%
2023 · €30k
Total assets
€78k▲ 43.3%
2023 · €54k
Net result
€-4k
2023 · €12k
Working capital
€27k▼ 9.2%
2023 · €30k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line202220232024
Operating result€3k-€13k▲ 319%€-216
Net result€3k-€12k▲ 293%€-4k
Equity€18k-€30k▲ 65.5%€26k▼ 11.8%
Total assets€33k-€54k▲ 66.0%€78k▲ 43.3%
Debt€15k-€25k▲ 66.5%€52k▲ 110%
Working capital€18k-€30k▲ 66.3%€27k▼ 9.2%
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 2024: a loss of €216 after €13k in 2023, the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €78k
Fixed assets
€198 =
Current assets
€78k ▲ 43.4%
Equity and liabilities €78k
Equity
€26k ▼ 11.8%
Debt
€52k ▲ 110%
Debt's share of the balance-sheet total rises from 45.1% to 66.2%. Equity is lower and debt is higher.
Key figures and ratios
Current ratio
1.53▼
2023 · 2.21
Quick ratio
0.73▼
2023 · 1.01
Debt to equity
1.96▲
2023 · 0.82
ROE
-13.4%▼
2023 · 39.6%
ROA
-4.5%▼
2023 · 21.7%
Debt ≤ 1 year
€51k▲
2023 · €25k
Income taxes
€3k▲
2023 · €603
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|
| Other operating charges640/8 | - | €153 | €1k | ▲ 848% |
| Gross operating margin9900 | €3k | €13k | €1k | ▼ 90.3% |
| Operating profit (loss)9901 | €3k | €13k | €-216 | ▼ 102% |
| Financial charges65/66B | - | €186 | €637 | ▲ 243% |
| Recurring financial charges65 | - | €186 | €637 | ▲ 243% |
| Profit (loss) for the period before taxes9903 | €3k | €12k | €-854 | ▼ 107% |
| Income taxes67/77 | - | €603 | €3k | ▲ 341% |
| Profit (loss) for the period9904 | €3k | €12k | €-4k | ▼ 130% |
| Profit (loss) for the period to be appropriated9905 | €3k | €12k | €-4k | ▼ 130% |
| Line | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €33k | €54k | €78k | ▲ 43.3% |
| Fixed assets21/28 | €198 | €198 | €198 | = |
| Financial fixed assets28 | €198 | €198 | €198 | = |
| Current assets29/58 | €33k | €54k | €78k | ▲ 43.4% |
| Stocks and contracts in progress3 | €30k | €29k | €41k | ▲ 39.2% |
| Stocks30/36 | €30k | €29k | €41k | ▲ 39.2% |
| Amounts receivable within one year40/41 | €3k | €12k | €14k | ▲ 17.6% |
| Trade receivables40 | - | €7k | €13k | ▲ 81.0% |
| Other amounts receivable41 | €3k | €5k | €892 | ▼ 80.3% |
| Cash at bank and in hand54/58 | - | €13k | €23k | ▲ 75.1% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €33k | €54k | €78k | ▲ 43.3% |
| Equity10/15 | €18k | €30k | €26k | ▼ 11.8% |
| Contributions10/11 | €15k | €15k | €15k | = |
| Profit (loss) carried forward14 | €3k | €15k | €11k | ▼ 23.7% |
| Amounts payable17/49 | €15k | €25k | €52k | ▲ 110% |
| Amounts payable within one year42/48 | €15k | €25k | €51k | ▲ 107% |
| Trade debts44 | - | €872 | €3k | ▲ 275% |
| Suppliers440/4 | - | €872 | €3k | ▲ 275% |
| Taxes, remuneration and social security45 | - | €17k | €8k | ▼ 55.4% |
| Taxes450/3 | - | €10k | €8k | ▼ 26.3% |
| Remuneration and social security454/9 | - | €7k | - | - |
| Other amounts payable47/48 | €15k | €7k | €40k | ▲ 505% |
| Accrued charges and deferred income492/3 | - | - | €800 | - |
| Line | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €3k | €12k | €-4k | ▼ 130% |
| Operating cash flow (approximation) | €3k | €12k | €-4k | ▼ 130% |
| Investment in fixed assets (approximation) | - | €0 | €0 | - |
| Change in cash | - | - | €10k | - |
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
2025
28-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 89 days late
24-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 420 days late
2024
31-12
Financial
Weakest financial yearnet €-4k
Net result drops to €-4k, the lowest in the series.
2023
31-12
Financial
Highest result since 2022net €12k ▲293%
Operating result €13k, net result €12k, both a record.
13-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 74 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Farciennes · 1 establishment unit since 2022
Ground area
174 m²
Building footprint
175 m²
Volume, LiDAR
1,055 m³
Parcel 52018A0020/00R017, Wallonia · tallest building 9.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MS 28
since 20222.338.846.875
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52018A0020/00R017 | Wallonia | 174 m² | 1 · 175 m² | 9.3 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel 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 siteFarciennes2.338.846.875
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Of 10,506 companies in sector 47110 we hold annual accounts for 5,848. 4,342 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
Founded18-05-2022
Fiscal year end31-12
Activities, NACEBEL 2025
47110Non-specialised retail sale with food, beverages or tobacco predominating
Contact
E-mail
ms.28shop@outlook.comFarciennes
Phone
0474572021Farciennes
Scores and ratios are computed by Checked and are not a credit decision.