MS CONSTRUCT BENELUX
ActiveSummary
MS CONSTRUCT BENELUX has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €142k and a net result of €36k. Equity is growing by ~85.8% per year across the filed fiscal years. Its solvency ranks better than 47% of 7445 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability82▲+2
Solvency66▲+6
Growth78=
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €9k at 30 days acceptable
Liquidity ample (current ratio 1.65 against 1.39 in 2023; short-term debt: 49.1% and cash: 21.2% of total assets), but 58.8% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Three 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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% 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
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-08-2025, 29 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 · 10 filingsDeviation from the deadline
2025
not confirmed
2024
29 d late
2023
61 d late
2022
30 d late
2021
1 d late
2020
23 d late
2019
31 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, abbreviated schema
Equity
€142k▲ 34.4%
2023 · €106k
2018: €-23k
2019: €-29k▼ -24.0% vs 2018
2020: €-34k▼ -16.1% vs 2019lowest in 7 years
2021: €39k▲ +217% vs 2020
2022: €80k▲ +103% vs 2021
2023: €106k▲ +32.7% vs 2022
2024: €142k▲ +34.4% vs 2023highest in 7 years
2018 → 2024
Total assets
€345k▲ 15.6%
2023 · €298k
2018: €305lowest in 7 years
2019: €306▲ +0.4% vs 2018
2020: €3k▲ +749% vs 2019
2021: €142k▲ +5350% vs 2020
2022: €218k▲ +53.7% vs 2021
2023: €298k▲ +36.9% vs 2022
2024: €345k▲ +15.6% vs 2023highest in 7 years
2018 → 2024
Net result
€36k▲ 39.7%
2023 · €26k
2018: €-5k
2019: €-6k▼ -15.2% vs 2018lowest in 7 years
2020: €-5k▲ +16.9% vs 2019
2021: €73k▲ +1666% vs 2020highest in 7 years
2022: €40k▼ -44.5% vs 2021
2023: €26k▼ -35.6% vs 2022
2024: €36k▲ +39.7% vs 2023
2018 → 2024
Working capital
€110k▲ 73.6%
2023 · €63k
2018: €-24k
2019: €-29k▼ -23.7% vs 2018
2020: €-34k▼ -15.9% vs 2019lowest in 7 years
2021: €32k▲ +193% vs 2020
2022: €63k▲ +100% vs 2021
2023: €63k▲ +0.2% vs 2022
2024: €110k▲ +73.6% vs 2023highest in 7 years
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€-34k-€39k€80k▲ 103%€106k▲ 32.7%€142k▲ 34.4%
2020: €-34klowest in 5 years
2021: €39k▲ +217% vs 2020
2022: €80k▲ +103% vs 2021
2023: €106k▲ +32.7% vs 2022
2024: €142k▲ +34.4% vs 2023highest in 5 years
Operating result€-5k-€87k€58k▼ 34.0%€45k▼ 22.7%€64k▲ 44.1%
2020: €-5klowest in 5 years
2021: €87k▲ +2012% vs 2020highest in 5 years
2022: €58k▼ -34.0% vs 2021
2023: €45k▼ -22.7% vs 2022
2024: €64k▲ +44.1% vs 2023
Net result€-5k-€73k€40k▼ 44.5%€26k▼ 35.6%€36k▲ 39.7%
2020: €-5klowest in 5 years
2021: €73k▲ +1666% vs 2020highest in 5 years
2022: €40k▼ -44.5% vs 2021
2023: €26k▼ -35.6% vs 2022
2024: €36k▲ +39.7% vs 2023
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 44% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €345k
Fixed assets
€66k ▼ 9.6%
Current assets
€279k ▲ 23.8%
Equity and liabilities €345k
Equity
€142k ▲ 34.4%
Debt
€203k ▲ 5.3%
Debt's share of the balance-sheet total falls from 64.6% to 58.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€94k▲
2023 · €67k
Cash flow
€66k▲
2023 · €48k
Current ratio
1.65▲
2023 · 1.39
Debt to equity
1.43▼
2023 · 1.82
ROE
25.6%▲
2023 · 24.6%
ROA
10.5%▲
2023 · 8.7%
Interest coverage
25.03▼
2023 · 41.51
Debt ≤ 1 year
€169k▲
2023 · €162k
Debt > 1 year
€34k▲
2023 · €30k
Income taxes
€24k▲
2023 · €17k
Staff costs
€45k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 46 lines
Balance sheet
Code20232024
Assets
Total assets20/58€298k€345k▲
Fixed assets21/28€73k€66k▼
Tangible fixed assets22/27€72k€65k▼
Plant, machinery and equipment23€4k€3k▼
Furniture and vehicles24€69k€62k▼
Financial fixed assets28€300€663▲
Current assets29/58€225k€279k▲
Amounts receivable within one year40/41€202k€198k▼
Trade receivables40€184k€132k▼
Other amounts receivable41€18k€66k▲
Cash at bank and in hand54/58€17k€73k▲
Deferred charges and accrued income490/1€7k€8k▲
Equity and liabilities
Total equity and liabilities10/49€298k€345k▲
Equity10/15€106k€142k▲
Contributions10/11€6k€6k=
Reserves13€99k€136k▲
Distributable reserves133€99k€136k▲
Amounts payable17/49€193k€203k▲
Amounts payable after more than one year17€30k€34k▲
Financial debts170/4€30k€34k▲
Amounts payable within one year42/48€162k€169k▲
Current portion of amounts payable after more than one year42€20k€24k▲
Financial debts43-€24k
Credit institutions430/8-€24k
Trade debts44€110k€75k▼
Suppliers440/4€110k€75k▼
Taxes, remuneration and social security45€21k€9k▼
Taxes450/3€21k€4k▼
Remuneration and social security454/9-€5k
Other amounts payable47/48€11k€38k▲
Income statement
Code20232024
Remuneration, social security and pensions62-€45k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€22k€30k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€14k-
Other operating charges640/8€2k€16k▲
Gross operating margin9900€83k€154k▲
Operating profit (loss)9901€45k€64k▲
Financial charges65/66B€2k€4k▲
Recurring financial charges65€2k€4k▲
Profit (loss) for the period before taxes9903€43k€60k▲
Income taxes67/77€17k€24k▲
Profit (loss) for the period9904€26k€36k▲
Profit (loss) for the period to be appropriated9905€26k€36k▲
Appropriation of the result
Profit (loss) to be appropriated9906€26k€36k▲
Transfer to equity691/2€26k€36k▲
To other reserves6921€26k€36k▲
Social balance
Average headcount (FTE)9087-1.0
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | - | €45k | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €123 | €9k | €22k | €30k | ▲ 34.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €14k | - | - |
| Other operating charges640/8 | - | €699 | €2k | €2k | €16k | ▲ 724% |
| Gross operating margin9900 | €-4k | €88k | €69k | €83k | €154k | ▲ 86.2% |
| Operating profit (loss)9901 | €-5k | €87k | €58k | €45k | €64k | ▲ 44.1% |
| Financial charges65/66B | - | €174 | €779 | €2k | €4k | ▲ 134% |
| Recurring financial charges65 | €80 | €174 | €779 | €2k | €4k | ▲ 134% |
| Profit (loss) for the period before taxes9903 | €-5k | €87k | €57k | €43k | €60k | ▲ 40.8% |
| Income taxes67/77 | - | €14k | €16k | €17k | €24k | ▲ 42.4% |
| Profit (loss) for the period9904 | €-5k | €73k | €40k | €26k | €36k | ▲ 39.7% |
| Profit (loss) for the period to be appropriated9905 | €-5k | €73k | €40k | €26k | €36k | ▲ 39.7% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3k | €142k | €218k | €298k | €345k | ▲ 15.6% |
| Fixed assets21/28 | €300 | €8k | €33k | €73k | €66k | ▼ 9.6% |
| Tangible fixed assets22/27 | - | €7k | €32k | €72k | €65k | ▼ 10.1% |
| Plant, machinery and equipment23 | - | - | - | €4k | €3k | ▼ 10.7% |
| Furniture and vehicles24 | - | €7k | €32k | €69k | €62k | ▼ 10.1% |
| Financial fixed assets28 | €300 | €300 | €300 | €300 | €663 | ▲ 121% |
| Current assets29/58 | €2k | €134k | €185k | €225k | €279k | ▲ 23.8% |
| Amounts receivable within one year40/41 | €2k | €74k | €144k | €202k | €198k | ▼ 2.1% |
| Trade receivables40 | - | €67k | €139k | €184k | €132k | ▼ 28.3% |
| Other amounts receivable41 | - | €7k | €5k | €18k | €66k | ▲ 270% |
| Cash at bank and in hand54/58 | - | €58k | €36k | €17k | €73k | ▲ 342% |
| Deferred charges and accrued income490/1 | - | €1k | €6k | €7k | €8k | ▲ 16.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3k | €142k | €218k | €298k | €345k | ▲ 15.6% |
| Equity10/15 | €-34k | €39k | €80k | €106k | €142k | ▲ 34.4% |
| Contributions10/11 | - | €6k | €6k | €6k | €6k | = |
| Reserves13 | - | €33k | €73k | €99k | €136k | ▲ 36.6% |
| Distributable reserves133 | - | €33k | €73k | €99k | €136k | ▲ 36.6% |
| Profit (loss) carried forward14 | €-40k | - | - | - | - | - |
| Amounts payable17/49 | €36k | €103k | €138k | €193k | €203k | ▲ 5.3% |
| Amounts payable after more than one year17 | - | - | €16k | €30k | €34k | ▲ 10.8% |
| Financial debts170/4 | - | - | €16k | €30k | €34k | ▲ 10.8% |
| Amounts payable within one year42/48 | €36k | €103k | €122k | €162k | €169k | ▲ 4.3% |
| Current portion of amounts payable after more than one year42 | - | - | €10k | €20k | €24k | ▲ 17.8% |
| Financial debts43 | - | €6 | €7k | - | €24k | - |
| Credit institutions430/8 | - | €6 | €7k | - | €24k | - |
| Trade debts44 | €1k | €40k | €72k | €110k | €75k | ▼ 31.4% |
| Suppliers440/4 | - | €40k | €72k | €110k | €75k | ▼ 31.4% |
| Taxes, remuneration and social security45 | - | €23k | €19k | €21k | €9k | ▼ 58.4% |
| Taxes450/3 | - | €19k | €19k | €21k | €4k | ▼ 81.5% |
| Remuneration and social security454/9 | - | €5k | - | - | €5k | - |
| Other amounts payable47/48 | - | €39k | €15k | €11k | €38k | ▲ 229% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-5k | €73k | €40k | €26k | €36k | ▲ 39.7% |
| + Depreciation and write-downs630 | - | €123 | €9k | €22k | €30k | ▲ 34.2% |
| Operating cash flow (approximation) | €-5k | €73k | €50k | €48k | €66k | ▲ 37.2% |
| Investment in fixed assets (approximation) | - | €-8k | €-34k | €-62k | €-23k | ▲ 63.3% |
| Change in cash | - | - | €-22k | €-19k | €57k | ▲ 391% |
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
2026
29-07
State Gazette act
Resignation: Bernard Peter (director)2 facts ▸
State Gazette act
Resignation: Bernard Peter (director)
2 facts ▸
- General meeting, 16/06/2026
- Director resignation, Bernard Peter (director)
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 29 days late
2024
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 61 days late
2023
31-12
Financial
Equity above €100kEq €106k ▲32.7%
3 profitable years in a row build equity to €106k.
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
01-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 1 day late
2021
31-12
Financial
Back to profitnet €73k
Net result €73k after 3 loss-making years.
31-12
Financial
Liquidity times 21current ratio 1.31
Current ratio from 0.06 to 1.31.
23-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 23 days late
2020
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 31 days late
2019
31-12
Financial
Weakest financial yearnet €-6k
Net result drops to €-6k, the lowest in the series; recovery starts the following year.
19-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 19 days late
Show earlier events
2018
29-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 29 days late
2017
24-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 24 days late
2016
29-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 29 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 7 acts read
About the unread acts
Of the 7 Belgian State Gazette acts we know for this company, 1 has been read. The other 6 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
no sitting director, last change in 2026
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
16-06-2026
Resigned as Director
Not every act has been read: a resignation may be missing here
6 of this company's 7 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Sint-Pieters-Leeuw · 1 establishment unit since 2014
Ground area
1,159 m²
Building footprint
860 m²
Volume, LiDAR
4,175 m³
Parcel 23077A0164/00S002, Flanders · tallest building 7.5 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
GOLDEN PORTAL
since 20142.236.076.365
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23077A0164/00S002 | Flanders | 1,158 m² | 1 · 860 m² | 7.5 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.
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A.R.C.
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G.V.Electric
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Of 22,815 companies in sector 43211 we hold annual accounts for 10,325. 8,648 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
Founded04-08-2014
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
43211General electrical installation work
41002Construction of residential and non-residential buildings
41003General construction of other non-residential buildings
Contact
E-mail
info@profitbusiness.beSint-Pieters-Leeuw
Scores and ratios are computed by Checked and are not a credit decision.