Equity
€12,056 from €60,478 in 2022
Equity fell by 80% in 3 years.
MS GESTION
Overview
Lifetime
5 annual accounts with figures on one time axispeak €67,502 (2022)
€26,916▼ 51.0%
peak €52,993 (2022)
€9,534▼ 66.4%
peak €60,478 (2022)
€12,056▲ 378%
€40,953▼ 38.4%
Board1 name since 2021
1 directorMaxime STAS de RICHELLE
Documentsfilings and deeds
23-12-202539 days before the deadline
2025micro format
Gross margin from €54,917 to €26,916Result from €28,355 to €9,534Equity from €2,523 to €12,056Debts from €66,474 to €40,953
Key points
from the 2025 annual accountsTurnover
≈ €78,000 estimated
The micro format states no turnover.
Debts
€40,953 77% of the balance sheet
Financial debts 33%Suppliers 7%Taxes and wages 15%Other 45%
Of this, €27,542 falls due within a year.
Filings
5 annual accounts 1 late
The 2021 accounts came 14 days late. The other four were filed on time.
Starting capital
€2,000 10 shares
Position in the sector
€12,056
Less equity than 81% of companies in head offices and management consultancy. Sector median €78,218 · 39,392 companies.
Checked score
95
Excellent
Financially stronger than 62% of micro companies in head offices and management consultancy (NACE 70)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 48,568 companies (NACE 70, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.1%highest value
01-2025: 0.1%● unchanged vs 12-2024
02-2025: 0.1%● unchanged vs 01-2025
03-2025: 0.1%● unchanged vs 02-2025
04-2025: 0.1%● unchanged vs 03-2025
05-2025: 0.1%● unchanged vs 04-2025
06-2025: 0.1%● unchanged vs 05-2025
07-2025: 0.1%● unchanged vs 06-2025
08-2025: 0.1%● unchanged vs 07-2025
09-2025: 0.1%● unchanged vs 08-2025
10-2025: 0.1%● unchanged vs 09-2025
11-2025: 0.1%● unchanged vs 10-2025
12-2025: 0.1%● unchanged vs 11-2025
01-2026: < 0.1%▼ -0.1 percentage points vs 12-2025
02-2026: < 0.1%● unchanged vs 01-2026
03-2026: < 0.1%● unchanged vs 02-2026
04-2026: < 0.1%● unchanged vs 03-2026
05-2026: < 0.1%● unchanged vs 04-2026
06-2026: < 0.1%● unchanged vs 05-2026
07-2026: < 0.1%● unchanged vs 06-2026
08-2026: < 0.1%● unchanged vs 07-2026lowest value
09-2026: < 0.1%● unchanged vs 08-2026
10-2026: 0.1%▲ +0.1 percentage points vs 09-2026
11-2026: 0.1%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
lowers risk
Sector: Activities of head offices; management consultancy activities (NACE 70)
Liquidity: current ratio 0.93, cash €20,945
Size: total assets €53,009
Figures for financial year 2025 (filed on 31-12-2025)
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 70, micro). It does better than 25% of them on solvency, 65% on liquidity, 61% on profitability and 97% on growth.
The bankruptcy probability was computed on 07-11-2026 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 30-06-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% 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, 6,713 companies had the same profile as MS GESTION has now. Each dot stands for 17 companies, two years later.
95.8%
were still trading
2.2%
stopped another way
1.8%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of MS GESTION itself is lower: 0.1% within 12 months. It rests on far more data about MS GESTION 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 6,713 companies, not a prediction for MS GESTION. 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 insufficient, with a current ratio of 0.93 (0.67 in 2024), below 1. Short-term debt is 52% and cash 39.5% of total assets. 77.3% 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
Seven signals.
lowers riskraises riskneutral
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 25% of 39360 sector peers (2025).
NBB · sector comparisonPosition among 39360 sector peers
Solvency
better than 25%
← weakest
strongest →
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
2122232425
2021 to 2025 · latest year €12,056
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 23-12-2025, 39 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
39 days early
2024
149 days early
2023
58 days early
2022
120 days early
2021
14 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 5 accounts on average 70 days before the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The financial year that closed on 30-06-2026 is due by 31-01-2027. Nothing is late today. The company usually files around 4 December (4 of the last 5 accounts filed within 72 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
30-06-2026 year end08-11-2026 today31-01-2027 deadline
Recent changes
Amendment of the articles
General meeting of 30-11-2022 · Gazette deed
Incorporation
Founding capital of €2,000, 10 shares · Founder: Maxime STAS de RICHELLE (comparant) · Appointment: Maxime STAS de RICHELLE (statutory director) · published on 27-04-2021 · Gazette deed
First establishment
Route d'Ottignies 32, Lasne
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| MS GESTION Lasne | €53,009 | €26,916 | 22.7% | - |
| SPOMACOM Lasne | €58,227 | €29,986 | 28.7% | - |
| VERITOV Braine-l'Alleud | €59,262 | €25,098 | 64.3% | - |
| NDG Consult Grez-Doiceau | €46,488 | €31,816 | 19.7% | - |
| GX MANAGEMENT Wavre | €59,184 | €23,440 | 10.1% | - |
| Pro-Next ERM Waterloo | €49,718 | €31,316 | 20.1% | - |
| Harocon Merchtem | €49,613 | €27,109 | 63.8% | - |
These companies have the same main activity as MS GESTION: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €46,500 and €59,300, founded between 2020 and 2021.
Official details
Source: KBO- Status
- Active since 23-04-2021Normal situation
- Activity
- Business and other management consultancyNACE 70200
- Establishment unit
- 2.316.581.7141380 Lasne, since 23-04-2021
- Financial year end
- 30 June
- Peppol
- Reachable
Annual accounts to 30-06-2025
- €26,916▼ 51.0%
- €9,534▼ 66.4%
- €12,056▲ 378%
- €53,009▼ 23.2%
- Filing
- Filed on 23-12-2025, 39 days before the end of the filing period
Insights on MS GESTION
MS GESTION files the micro format. That format states no turnover. The gross margin rose from €6,862 in 2021 to €26,916 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Financials
Annual accounts 2025
micro format, filed on 23-12-2025, 39 days before the deadline€26,916
▼ 51.0%
€14,667
▼ 65.9%
€9,534
▼ 66.4%
-€1,874
▲ €12,942
22.7%
▲ 19.1 percentage points
0.93
▲ 0.26
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 ≈ €78,000. Estimated: probably between €47,000 and €110,000.
Balance sheet
balance sheet total €53,009 on 30-06-2025What the company ownsHow it is paid for
in euro
in euro
Position in the sector
22.7%
Higher than 25% of 39,360 companies in 2025.
0.93
Higher than 22% of 38,044 companies in 2025.
18.0%
Higher than 56% of 38,516 companies in 2025.
MS GESTION
Middle half of the sector
80% of the sector
Micro accounts in head offices and management consultancy (NACE 70)
Net result: middle half · Equity: bottom quarter · Balance sheet total: bottom quarter · Working capital: bottom quarter
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||
20/58 |
53,009 | 68,996 | 64,742 | 85,006 | 25,650 | |
21/28 |
27,341 | 38,788 | 48,100 | 8,184 | - | |
22/27 |
27,341 | 38,788 | 48,100 | 8,184 | - | |
24 |
25,082 | 35,296 | 43,375 | 2,227 | - | |
26 |
2,260 | 3,492 | 4,725 | 5,957 | - | |
29/58 |
25,667 | 30,208 | 16,642 | 76,822 | 25,650 | |
40/41 |
3,000 | 12,000 | 10,185 | 3,064 | 24,200 | |
40 |
- | - | 10,185 | 193 | 24,200 | |
41 |
3,000 | 12,000 | - | 2,871 | - | |
54/58 |
20,945 | 16,784 | 609 | 73,758 | 1,450 | |
490/1 |
1,723 | 1,424 | 5,848 | - | - | |
| Balance sheet: equity and liabilities | ||||||
10/49 |
53,009 | 68,996 | 64,742 | 85,006 | 25,650 | |
10/15 |
12,056 | 2,523 | 2,167 | 60,478 | 7,485 | |
10/11 |
2,000 | 2,000 | 2,000 | 2,000 | 2,000 | |
14 |
10,056 | 523 | 167 | 58,478 | 5,485 | |
17/49 |
40,953 | 66,474 | 62,575 | 24,528 | 18,165 | |
17 |
13,411 | 21,449 | 29,170 | - | - | |
170/4 |
13,411 | 21,449 | 29,170 | - | - | |
42/48 |
27,542 | 45,024 | 33,405 | 24,528 | 18,165 | |
42 |
8,039 | 7,720 | 7,415 | - | - | |
44 |
2,986 | 4,583 | 6,955 | 4,550 | 6,672 | |
440/4 |
2,986 | 4,583 | 6,955 | 4,550 | 6,672 | |
45 |
6,171 | 10,590 | 13,279 | 19,978 | 10,493 | |
450/3 |
6,171 | 10,590 | 13,279 | 19,978 | 5,493 | |
454/9 |
- | - | - | - | 5,000 | |
47/48 |
10,346 | 22,131 | 5,756 | - | 1,000 | |
| Income statement | ||||||
9900 |
26,916 | 54,917 | 61,186 | 67,502 | 6,862 | |
630 |
11,447 | 11,378 | 6,363 | 705 | - | |
640/8 |
802 | 504 | 154 | - | - | |
9901 |
14,667 | 43,035 | 54,669 | 66,797 | 6,862 | |
65/66B |
1,382 | 1,594 | 944 | 53 | 7 | |
65 |
1,382 | 1,594 | 944 | 53 | 7 | |
9903 |
13,285 | 41,441 | 53,725 | 66,744 | 6,855 | |
67/77 |
3,752 | 13,085 | 5,786 | 13,751 | 1,370 | |
9904 |
9,534 | 28,355 | 47,939 | 52,993 | 5,485 | |
9905 |
9,534 | 28,355 | 47,939 | 52,993 | 5,485 | |
| Appropriation of the result | ||||||
9906 |
10,056 | 28,523 | 106,417 | 58,478 | 5,485 | |
14P |
523 | 167 | 58,478 | 5,485 | - | |
694/7 |
- | 28,000 | 106,250 | - | - | |
694 |
- | 28,000 | 106,250 | - | - | |
| 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 filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 23-12-2025.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 23-12-2025 | 2025-00592602 | |
| 30-06-2024 | micro format | 04-09-2024 | 2024-00458068 | |
| 30-06-2023 | micro format | 04-12-2023 | 2023-00524941 | |
| 30-06-2022 | micro format | 03-10-2022 | 2022-20456416 | |
| 30-06-2021 | micro format | 14-02-2022 | 2022-05700040 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| 26,114 | 54,413 | 61,032 | 67,502 | - | ||
| 20,981 | 39,733 | 54,302 | 53,698 | - | ||
| 0 | 2,067 | 46,279 | 8,889 | - | ||
| 4,161 | 16,175 | -73,149 | 72,308 | - | ||
| -1,874 | -14,817 | -16,763 | 52,294 | 7,485 | ||
| 22.7% | 3.7% | 3.3% | 71.1% | 29.2% | ||
| 0.93 | 0.67 | 0.50 | 3.13 | 1.41 | ||
| 3.40 | 26.35 | 28.88 | 0.41 | 2.43 | ||
| 79.1% | - | - | 87.6% | 73.3% | ||
| 18.0% | 41.1% | 74.0% | 62.3% | 21.4% | ||
| 18.90 | 34.14 | 64.65 | over 100 | - |
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.
Investments
fixed assets acquired| Item | 30-06-2025 | 30-06-2024 | 30-06-2023 | 30-06-2022 |
|---|---|---|---|---|
| Tangible fixed assets | - | €2,067 | €46,279 | €8,889 |
| €11,447 | €11,378 | €6,363 | €705 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Insights on MS GESTION
The operating result for 2025 is 66% lower than in 2024 and the lowest since 2021. It is the third fall in a row.
Debt's share of the balance-sheet total falls from 96.3% to 77.3%. Equity is higher and debt is lower.
Board & ownership
Board
1 director, since incorporationStatutory director
appointed by deed of 27-04-2021
term for the life of the company
listed in the 2025 annual accounts, filed on 23-12-2025
- Signing authorityThe articles say who may bind the company, for example by signing a contract.
- “ARTICLE 9 - Pouvoirs de l’organe d’administration. L’administrateur peut accomplir tous les actes nécessaires ou utiles à l’accomplissement…”deed of 27-04-2021
Mandates through the years
1 name, the dashed line is todayMaxime STAS de RICHELLE
Statutory director
Statutory director
Board
Mandates as a list
- Maxime STAS de RICHELLE
- Statutory director, appointed by deed of 27-04-2021, still in office
Control
Capital
- Contribution
- €2,000
- Shares
- 10
- Contribution per share
- €200
- Equity per share
- €1,206 in 2025
- Source
- deed of 27-04-2021
Articles of association
deed of 27-04-2021 (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.
- 1 director
- Kind of sharesThe articles set which classes of shares exist and what rights each class carries.
- 10 shares
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- First Friday of November at 12:00
Shareholders
At incorporation
deed of 27-04-2021 ↗
- Maxime STAS de RICHELLE 10 shares (100%) · €2,000 in cash
Network & group
No group
MS GESTION has no parent and no holdings in its annual accounts. Maxime STAS de RICHELLE is the only director. MS GESTION shares no director with another company.
Timeline
Timeline
10 events since 2021Filings
Financial
Establishments
Other
202220242026
Deadline for the 2026 accounts: 31-01-2027
2025
Annual accounts 2025 filed PDFmicro format · 39 days before the deadline
2024
Annual accounts 2024 filed PDFmicro format · 149 days before the deadline
2023
Annual accounts 2023 filed PDFmicro format · 58 days before the deadline
2022
Amendment of the articlesGeneral meeting of 30-11-20223 points ▸
- General meeting, 30-11-2022
- Amendment of the articles, article 13
- Power of attorney, Victoria DONNER
- The deed holds 1 more point.
Annual accounts 2022 filed PDFmicro format · 120 days before the deadline
Highest result from 2021 to 2025 net €52,993 ▲866% The operating result of €66,797 and the net result of €52,993 are both a record.
Liquidity more than doubled current ratio 3.13 The current ratio rises from 1.41 to 3.13.
Annual accounts 2021 filed PDFmicro format · 14 days late
2021
IncorporationFounding capital of €2,000, 10 shares · Founder: Maxime STAS de RICHELLE (comparant) · Appointment: Maxime STAS de RICHELLE (statutory director) · published on 27-04-20216 points ▸
- Founder, Maxime STAS de RICHELLE (comparant)
- Founding capital, €2,000, 10 shares
- Director appointment, Maxime STAS de RICHELLE (statutory director)
- Permanent representative, Maxime STAS de RICHELLE, mentioned twice in the deed
- Registered office clause, Route d’Ottignies 32, 1380 Lasne
- Power of attorney, Victoria DONNER
- The deed holds 7 more points.
First establishment Route d'Ottignies 32, Lasne
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
On 23 April 2021, MS GESTION was incorporated as a private limited company by one natural person, with a starting capital of €2,000.12 Maxime STAS de RICHELLE is statutory director of the company, appointed by deed of 27-04-2021.2 Total assets went from €25,650 in 2021 to €53,009 in 2025.3
Company details
Identity
- Enterprise number
- 0767.431.237
- VAT number
- BE 0767.431.237
- Peppol ID
- 0208:0767431237
- Other Peppol ID
- 9925:BE0767431237
- Legal form
- Private limited company
- Status
- Active, normal situation
- Founded
- 23-04-2021
- Financial year
- ends on 30 June
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- First Friday of November at 12:00deed of 27-04-2021 (in French)
- Peppol
- Reachable via PeppolFollow this company and you will hear the next morning if it leaves the Peppol register.
- Name
- MS GESTION in French
- Entity type
- Legal entity
- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimiteddeed of 27-04-2021 (in French)
Activities
NACEBEL 202570200
Business and other management consultancy main activity
Codes under NACEBEL 2008
70220
Business consulting main activity
- PurposeThe purpose describes the activities the company may carry out under its articles.
- “L’administration en tant qu’administrateur de la société à responsabilité limitée,«Maxime STAS de RICHELLE,Dominique ROULEZ & Sophie…”deed of 27-04-2021 (in French)
4 activities
- L’administration en tant qu’administrateur de la société à responsabilité limitée,«Maxime STAS de RICHELLE,Dominique ROULEZ & Sophie JEMELKA»,en abrégé«SRJ»,société notariale,ayant son siège à 1410 Waterloo,chaussée de Bruxelles 95,ci-après dénommée la«société professionnelle notariale»ou de toute(s)celle(s)qui lui succéderai(en)t sous quelque dénomination que ce soit,et ce dans le respect des dispositions légales,réglementaires et déontologiques régissant la profession de notaire,à l’exclusion de toute activité en dehors de la société professionnelle notariale dont elle est administrateur
- La gestion de son patrimoine mobilier et immobilier de manière rationnelle et efficace.Dans les limites de cette gestion,la société pourra,pour son propre compte et sous forme de placements,acquérir,aliéner,prendre et donner en location,grever de droits personnels et réels tous biens mobiliers et immobiliers(y compris la mise à disposition de son administrateur d’un bien immeuble à titre de résidence)
- La conclusion d’emprunts,financements ou contrats de leasing,relativement aux opérations qui précèdent en ce compris la constitution de garanties sur ses biens même au profit de tiers
- L’acquisition d’un bien immeuble en tant qu’élément de rémunération de son administrateur
Registered office and establishments
1 establishment| Establishment | Since | Unit number |
|---|---|---|
| Route d'Ottignies 32 registered office 1380 Lasne 70100 Activities of head offices | 23-04-2021 | 2.316.581.714 |
Buildings and parcels at the address
- Ground area
- 1,617 m²
- Buildings
- 107 m²
- Volume, LiDAR
- 851 m³
- Tallest building
- 10.1 m
Buildings to scale, each on its own parcel
Parcels
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 25051H0253/00E000 | 1,617 m² | 1 · 107 m² | 10.1 m · 3 |