MS ADVICE
ActiveSummary
MS ADVICE has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €171,904 and a net result of -€47,402. Equity is shrinking by ~3.3% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-73
Solvency100=
Growth32▼-26
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €9,000 at 30 days acceptable
Liquidity short (current ratio 0.1 against 0.87 in 2024; short-term debt: 17.6% and cash: 0.1% of total assets), and 17.6% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
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 2025Solvency, return and age of the figures
Solvency
82.4%
Return on assets
-22.7%
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 15-01-2026, 16 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
16 d early
2024
3 d late
2023
1 d early
2022
56 d early
2021
on the day
2020
23 d late
2019
44 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 13 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were 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 January (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-06-2026 close29-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€47,402
2024 · €8,859
Working capital
-€33,037▼ 863%
2024 · -€3,430
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
Line20212022202320242025
Operating result-€15,822▼ 264%€10,334-€9,136€819-€46,327
Net result-€18,235▼ 65.7%€9,283-€10,563€8,859-€47,402
Equity€211,726▼ 7.9%€221,009▲ 4.4%€210,446▼ 4.8%€219,305▲ 4.2%€171,904▼ 21.6%
Total assets€245,290▼ 8.4%€250,134▲ 2.0%€234,436▼ 6.3%€246,650▲ 5.2%€208,567▼ 15.4%
Debt€33,563▼ 11.0%€29,125▼ 13.2%€23,991▼ 17.6%€27,345▲ 14.0%€36,663▲ 34.1%
Working capital-€10,842▲ 11.9%€22,607€9,602▼ 57.5%-€3,430-€33,037▼ 863%
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €46,327 after €819 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €208,567
Fixed assets
€204,941 ▼ 8.0%
Current assets
€3,626 ▼ 84.8%
Equity and liabilities €208,567
Equity
€171,904 ▼ 21.6%
Debt
€36,663 ▲ 34.1%
Debt's share of the balance-sheet total rises from 11.1% to 17.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€28,532▼
2024 · €26,586
Cash flow
-€29,607▼
2024 · €34,625
Current ratio
0.10▼
2024 · 0.87
Debt to equity
0.21▲
2024 · 0.12
ROE
-27.6%▼
2024 · 4.0%
ROA
-22.7%▼
2024 · 3.6%
Interest coverage
-28.76▼
2024 · 22.93
Debt ≤ 1 year
€36,663▲
2024 · €27,345
Income taxes
€83▼
2024 · €433
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 5,834 companies that looked in July 2024 the way this one looks now, 1.7% went bankrupt within 24 months and 84% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a loss of 10% of the balance sheet or more
1.7%
went bankrupt
13%
stopped otherwise
84%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.2% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 5,834 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €38,864 | €32,084 | €33,513 | €25,766 | €17,795 | ▼ 30.9% |
| Other operating charges640/8 | - | €7,051 | €11,209 | €6,354 | €7,452 | ▲ 17.3% |
| Gross operating margin9900 | €30,001 | €49,469 | €35,586 | €32,939 | -€21,080 | ▼ 164% |
| Operating profit (loss)9901 | -€15,822 | €10,334 | -€9,136 | €819 | -€46,327 | ▼ 5,755% |
| Financial income75/76B | - | €243 | €14 | €9,632 | - | - |
| Recurring financial income75 | €21 | €243 | €14 | €9,632 | - | - |
| Non-recurring financial income76B | - | - | - | €9,632 | - | - |
| Financial charges65/66B | - | €1,189 | €1,358 | €1,159 | €992 | ▼ 14.4% |
| Recurring financial charges65 | €2,329 | €1,189 | €1,358 | €1,159 | €992 | ▼ 14.4% |
| Profit (loss) for the period before taxes9903 | -€18,130 | €9,388 | -€10,481 | €9,292 | -€47,319 | ▼ 609% |
| Income taxes67/77 | €105 | €105 | €83 | €433 | €83 | ▼ 80.9% |
| Profit (loss) for the period9904 | -€18,235 | €9,283 | -€10,563 | €8,859 | -€47,402 | ▼ 635% |
| Profit (loss) for the period to be appropriated9905 | -€18,235 | €9,283 | -€10,563 | €8,859 | -€47,402 | ▼ 635% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €245,290 | €250,134 | €234,436 | €246,650 | €208,567 | ▼ 15.4% |
| Fixed assets21/28 | €241,983 | €216,891 | €203,877 | €222,735 | €204,941 | ▼ 8.0% |
| Tangible fixed assets22/27 | €241,736 | €216,643 | €203,630 | €222,488 | €204,693 | ▼ 8.0% |
| Land and buildings22 | - | €167,900 | €139,224 | €121,160 | €121,160 | = |
| Plant, machinery and equipment23 | - | €48,744 | €64,406 | €66,747 | €61,052 | ▼ 8.5% |
| Furniture and vehicles24 | - | - | - | €34,581 | €22,481 | ▼ 35.0% |
| Financial fixed assets28 | €247 | €247 | €247 | €247 | €247 | = |
| Current assets29/58 | €3,307 | €33,244 | €30,559 | €23,914 | €3,626 | ▼ 84.8% |
| Amounts receivable within one year40/41 | €2,001 | €6,784 | €208 | - | €968 | - |
| Trade receivables40 | - | - | - | - | €968 | - |
| Other amounts receivable41 | - | €6,784 | €208 | - | - | - |
| Cash at bank and in hand54/58 | €778 | €24,663 | €24,681 | €21,346 | €232 | ▼ 98.9% |
| Deferred charges and accrued income490/1 | - | €1,796 | €5,670 | €2,569 | €2,426 | ▼ 5.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €245,290 | €250,134 | €234,436 | €246,650 | €208,567 | ▼ 15.4% |
| Equity10/15 | €211,726 | €221,009 | €210,446 | €219,305 | €171,904 | ▼ 21.6% |
| Contributions10/11 | €270,204 | €270,204 | €270,204 | €270,204 | €270,204 | = |
| Capital10 | - | €270,204 | €270,204 | €270,204 | €270,204 | = |
| Issued capital100 | - | €270,204 | €270,204 | €270,204 | €270,204 | = |
| Reserves13 | €27,909 | €27,909 | €27,909 | €27,909 | €27,909 | = |
| Non-distributable reserves130/1 | - | €27,020 | €27,020 | €27,020 | €27,020 | = |
| Legal reserve130 | - | €27,020 | €27,020 | €27,020 | €27,020 | = |
| Distributable reserves133 | - | €889 | €889 | €889 | €889 | = |
| Profit (loss) carried forward14 | -€86,387 | -€77,104 | -€87,667 | -€78,808 | -€126,210 | ▼ 60.1% |
| Amounts payable17/49 | €33,563 | €29,125 | €23,991 | €27,345 | €36,663 | ▲ 34.1% |
| Amounts payable after more than one year17 | €16,845 | €9,738 | €1,849 | - | - | - |
| Financial debts170/4 | - | €9,738 | €1,849 | - | - | - |
| Amounts payable within one year42/48 | €14,149 | €10,636 | €20,958 | €27,345 | €36,663 | ▲ 34.1% |
| Current portion of amounts payable after more than one year42 | - | €7,107 | €7,889 | €1,849 | - | - |
| Financial debts43 | - | - | - | - | €3,568 | - |
| Credit institutions430/8 | - | - | - | - | €3,568 | - |
| Trade debts44 | €2,561 | - | €9,666 | €19,303 | €28,612 | ▲ 48.2% |
| Suppliers440/4 | - | - | €9,666 | €19,303 | €28,612 | ▲ 48.2% |
| Taxes, remuneration and social security45 | - | €210 | €83 | €433 | €83 | ▼ 80.9% |
| Taxes450/3 | - | €210 | €83 | €433 | €83 | ▼ 80.9% |
| Other amounts payable47/48 | - | €3,320 | €3,320 | €5,761 | €4,400 | ▼ 23.6% |
| Accrued charges and deferred income492/3 | - | €8,751 | €1,184 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€18,235 | €9,283 | -€10,563 | €8,859 | -€47,402 | ▼ 635% |
| + Depreciation and write-downs630 | €38,864 | €32,084 | €33,513 | €25,766 | €17,795 | ▼ 30.9% |
| Operating cash flow (approximation) | €20,629 | €41,367 | €22,950 | €34,625 | -€29,607 | ▼ 186% |
| Investment in fixed assets (approximation) | - | -€6,992 | -€20,500 | -€44,625 | €0 | ▲ 100% |
| Change in cash | - | €23,885 | €18 | -€3,335 | -€21,113 | ▼ 533% |
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
2026
15-01
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
30-06
Financial
Weakest financial yearnet -€47,402
Net result drops to -€47,402, the lowest in the series.
03-02
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 3 days late
2024
30-06
Financial
Back to profitnet €8,859
Net result €8,859 after one loss-making year.
30-01
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2022
06-12
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
30-06
Financial
Back to profitnet €9,283
Net result €9,283 after 3 loss-making years.
30-06
Financial
Liquidity times 13current ratio 3.13
Current ratio from 0.23 to 3.13; short-term debt falls from €14,149 to €10,636.
31-01
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
23-02
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 23 days late
2019
18-12
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
21-01
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
30-01
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
31-01
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 5 acts read
About the unread acts
We know of 5 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
5 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, Ukkel · 1 establishment unit since 1995
Ground area
150 m²
Building footprint
93 m²
Volume, LiDAR
1,316 m³
Parcel 21614E0095/00L003, Brussels · tallest building 17.9 m, ±5 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
MS ADVICE
since 19952.042.987.967
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21614E0095/00L003 | Brussels | 150 m² | 1 · 92 m² | 17.9 m · 5 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.
Identification & contact
Identification
Legal formPublic limited company
Founded23-03-1989
Fiscal year end30-06
E-invoicing
Reachable via Peppol
Peppol ID
0208:0437156531
Registered
28-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.