MS PISCINES
ActiveSummary
The computed 12-month bankruptcy probability of MS PISCINES is 2.2% (moderate). The 2025 annual accounts show equity of €109,580 and a net result of €10,741. Equity remains stable across the filed fiscal years (±1.6% per year). Its solvency ranks better than 38% of 7967 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability51▲+18
Solvency60▲+5
Growth55▲+23
Track record94
Bankruptcy probability, 12 months
2.2%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €5,000 at 30 days acceptable
Liquidity short (current ratio 0.98 against 0.94 in 2024; short-term debt: 57.5% and cash: 6.5% of total assets), and 65.3% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
34.7%
Return on assets
3.4%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 26-08-2026, 26 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 · 5 filingsDeviation from the deadline
2025
26 d late
2024
17 d late
2023
302 d late
2022
668 d late
2021
31 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 209 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 31 August (4 of the last 5 filed years within 272 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#10 company by equity in Erquelinnes, Construction sector
Turnover
€918,763▲ 25.6%
2024 · €731,776
EBIT margin
3.0%▲ 4.5pp
2024 · -1.6%
Net result
€10,741
2024 · -€18,731
Working capital
-€4,304▲ 65.1%
2024 · -€12,338
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€731,776€918,763▲ 25.6%
Operating result€18,830-€3,696▼ 80.4%€11,524▲ 212%-€11,369€27,500
Net result€13,805within the sector's middle half-€3,568within the sector's middle half▼ 74.2%€1,180within the sector's middle half▼ 66.9%-€18,731below the sector's middle half€10,741within the sector's middle half
EBIT margin-1.6%3.0%▲ 4.5pp
Equity€113,805within the sector's middle half-€117,372within the sector's middle half▲ 3.1%€117,570within the sector's middle half▲ 0.2%€98,839within the sector's middle half▼ 15.9%€109,580within the sector's middle half▲ 10.9%
Total assets€147,346within the sector's middle half-€224,968within the sector's middle half▲ 52.7%€188,354within the sector's middle half▼ 16.3%€330,780above the sector's middle half▲ 75.6%€315,520within the sector's middle half▼ 4.6%
Debt€33,541-€107,596▲ 221%€70,784▼ 34.2%€231,941▲ 228%€205,940▼ 11.2%
Working capital€39,690within the sector's middle half-€73,262within the sector's middle half▲ 84.6%€74,878within the sector's middle half▲ 2.2%-€12,338below the sector's middle half-€4,304below the sector's middle half▲ 65.1%
Solvency77.2%above the sector's middle half-52.2%within the sector's middle half▼ 25.1pp62.4%within the sector's middle half▲ 10.2pp29.9%within the sector's middle half▼ 32.5pp34.7%within the sector's middle half▲ 4.8pp
Current ratio2.19within the sector's middle half-1.95within the sector's middle half▼ 0.242.84within the sector's middle half▲ 0.890.94below the sector's middle half▼ 1.900.98below the sector's middle half▲ 0.04
Return on assets (ROA)9.4%within the sector's middle half-1.6%within the sector's middle half▼ 7.8pp0.6%within the sector's middle half▼ 1.0pp-5.7%below the sector's middle half▼ 6.3pp3.4%within the sector's middle half▲ 9.1pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
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 returns to profit in 2025: €27,500 after a loss of €11,369 in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €315,277
Fixed assets
€138,141 ▼ 7.1%
Current assets
€177,136 ▼ 2.0%
Equity and liabilities €315,520
Equity
€109,580 ▲ 10.9%
Debt
€205,940 ▼ 11.2%
Debt's share of the balance-sheet total falls from 70.1% to 65.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€60,951▲
2024 · €26,910
Cash flow
€44,192▲
2024 · €19,548
Quick ratio
0.23▼
2024 · 0.25
Debt to equity
1.88▼
2024 · 2.35
ROE
9.8%▲
2024 · -19.0%
Interest coverage
3.64▲
2024 · 2.44
Debt ≤ 1 year
€181,440▼
2024 · €193,053
Debt > 1 year
€24,500▼
2024 · €37,600
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 5,048 companies that looked in July 2024 the way this one looks now, 2.2% went bankrupt within 24 months and 94% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
2.2%
went bankrupt
3.8%
stopped otherwise
94%
still going
For this company itself Checked computes a bankruptcy probability of 2.2% 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 497,340 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% | 1.8% |
| 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 5,048 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 |
|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | €731,776 | €918,763 | ▲ 25.6% |
| Non-recurring operating income76A | - | - | - | - | €21,074 | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €702,211 | €849,111 | ▲ 20.9% |
| Remuneration, social security and pensions62 | - | - | €29,014 | €1,894 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11,947 | €21,259 | €27,921 | €38,279 | €33,451 | ▼ 12.6% |
| Other operating charges640/8 | €708 | €1,145 | €359 | €761 | €1,145 | ▲ 50.5% |
| Non-recurring operating charges66A | - | - | - | - | €7,556 | - |
| Gross operating margin9900 | €31,484 | €26,100 | €68,818 | €29,565 | €69,652 | ▲ 136% |
| Operating profit (loss)9901 | €18,830 | €3,696 | €11,524 | -€11,369 | €27,500 | ▲ 342% |
| Financial income75/76B | - | €308 | - | - | - | - |
| Recurring financial income75 | - | €308 | - | - | - | - |
| Financial charges65/66B | €1,337 | €436 | €10,344 | €11,050 | €16,759 | ▲ 51.7% |
| Recurring financial charges65 | €1,337 | €436 | €10,344 | €11,050 | €16,759 | ▲ 51.7% |
| Profit (loss) for the period before taxes9903 | €17,493 | €3,568 | €1,180 | -€22,419 | €10,741 | ▲ 148% |
| Income taxes67/77 | €3,688 | - | - | -€3,688 | - | - |
| Profit (loss) for the period9904 | €13,805 | €3,568 | €1,180 | -€18,731 | €10,741 | ▲ 157% |
| Profit (loss) for the period to be appropriated9905 | €13,805 | €3,568 | €1,180 | -€18,731 | €10,741 | ▲ 157% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €147,346 | €224,968 | €188,354 | €330,780 | €315,520 | ▼ 4.6% |
| Formation expenses20 | €4,631 | €3,534 | €2,437 | €1,340 | €243 | ▼ 81.9% |
| Fixed assets21/28 | €69,674 | €71,028 | €70,255 | €148,725 | €138,141 | ▼ 7.1% |
| Intangible fixed assets21 | €1 | €1 | €1 | €1 | €1 | = |
| Tangible fixed assets22/27 | €67,068 | €68,422 | €67,649 | €146,119 | €135,535 | ▼ 7.2% |
| Land and buildings22 | - | €2,400 | - | - | - | - |
| Plant, machinery and equipment23 | €35,236 | €30,295 | €38,503 | €127,444 | €101,514 | ▼ 20.3% |
| Furniture and vehicles24 | €31,832 | €35,727 | €29,146 | €18,675 | €34,021 | ▲ 82.2% |
| Financial fixed assets28 | €2,605 | €2,605 | €2,605 | €2,605 | €2,605 | = |
| Current assets29/58 | €73,041 | €150,406 | €115,662 | €180,715 | €177,136 | ▼ 2.0% |
| Stocks and contracts in progress3 | €40,971 | €102,217 | €91,877 | €132,247 | €136,042 | ▲ 2.9% |
| Stocks30/36 | €40,971 | €102,217 | €91,877 | €132,247 | €136,042 | ▲ 2.9% |
| Amounts receivable within one year40/41 | €27,325 | €39,134 | €12,336 | €46,044 | €13,840 | ▼ 69.9% |
| Trade receivables40 | €26,693 | €38,593 | €9,799 | €44,435 | €13,840 | ▼ 68.9% |
| Other amounts receivable41 | €631 | €541 | €2,537 | €1,609 | - | - |
| Cash at bank and in hand54/58 | €4,048 | €8,908 | - | - | €20,549 | - |
| Deferred charges and accrued income490/1 | €697 | €147 | €11,449 | €2,424 | €6,705 | ▲ 177% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €147,346 | €224,968 | €188,354 | €330,780 | €315,520 | ▼ 4.6% |
| Equity10/15 | €113,805 | €117,372 | €117,570 | €98,839 | €109,580 | ▲ 10.9% |
| Contributions10/11 | €100,000 | €100,000 | €100,000 | €100,000 | €100,000 | = |
| Capital10 | - | - | €100,000 | €100,000 | €100,000 | = |
| Issued capital100 | - | - | €100,000 | €100,000 | €100,000 | = |
| Profit (loss) carried forward14 | €13,805 | €17,372 | €17,570 | -€1,161 | €9,580 | ▲ 925% |
| Amounts payable17/49 | €33,541 | €107,596 | €70,784 | €231,941 | €205,940 | ▼ 11.2% |
| Amounts payable after more than one year17 | - | €30,000 | €30,000 | €37,600 | €24,500 | ▼ 34.8% |
| Financial debts170/4 | - | €30,000 | €30,000 | €37,600 | €24,500 | ▼ 34.8% |
| Amounts payable within one year42/48 | €33,351 | €77,144 | €40,784 | €193,053 | €181,440 | ▼ 6.0% |
| Current portion of amounts payable after more than one year42 | - | €8,307 | €7,380 | - | €13,885 | - |
| Financial debts43 | - | - | €4,027 | €113,100 | €100,000 | ▼ 11.6% |
| Credit institutions430/8 | - | - | €4,027 | €13,100 | - | - |
| Other loans439 | - | - | - | €100,000 | €100,000 | = |
| Trade debts44 | €7,620 | €31,612 | €1,708 | €31,419 | - | - |
| Suppliers440/4 | €7,620 | €31,612 | €1,708 | €31,419 | - | - |
| Advances received on contracts in progress46 | €12,870 | - | - | - | - | - |
| Taxes, remuneration and social security45 | €12,860 | €36,688 | €21,748 | €48,534 | €67,555 | ▲ 39.2% |
| Taxes450/3 | €12,860 | €35,686 | €21,748 | €48,534 | €67,555 | ▲ 39.2% |
| Remuneration and social security454/9 | - | €1,002 | - | - | - | - |
| Other amounts payable47/48 | - | €537 | €5,921 | - | - | - |
| Accrued charges and deferred income492/3 | €191 | €452 | - | €1,288 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €13,805 | €3,568 | €1,180 | -€18,731 | €10,741 | ▲ 157% |
| + Depreciation and write-downs630 | €11,947 | €21,259 | €27,921 | €38,279 | €33,451 | ▼ 12.6% |
| Operating cash flow (approximation) | €25,752 | €24,827 | €29,101 | €19,548 | €44,192 | ▲ 126% |
| Investment in fixed assets (approximation) | - | -€22,613 | -€27,148 | -€116,749 | -€22,867 | ▲ 80.4% |
| Change in cash | - | €4,860 | - | - | - | - |
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
26-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 26 days late
2025
31-12
Financial
Back to profitnet €10,741
Net result €10,741 after one loss-making year.
31-12
Financial
Equity above €100,000Eq €109,580 ▲10.9%
Equity rises from €98,839 to €109,580.
17-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 17 days late
29-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 302 days late
29-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 668 days late
2024
31-12
Financial
Weakest financial yearnet -€18,731
Net result drops to -€18,731, the lowest in the series; recovery starts the following year.
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
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, Erquelinnes · 1 establishment unit since 2021
Ground area
1,287 m²
Building footprint
140 m²
Volume, LiDAR
818 m³
Parcel 56031B0942/00R000, Wallonia · tallest building 7.9 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
MS PISCINES
since 20212.316.385.932
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 56031B0942/00R000 | Wallonia | 1,287 m² | 1 · 140 m² | 7.9 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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Of 15,524 companies in sector 43990 we hold annual accounts for 7,429. 6,225 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
Founded23-03-2021
Fiscal year end31-12
Activities, NACEBEL 2025
43990Other specialised construction activities
16230Manufacture of other builders' carpentry and joinery
32300Other manufacturing
43120Site preparation
43240Other construction installation
47529Retail trade
77110Renting and leasing of cars and light motor vehicles
77210Renting and leasing of sports and recreation goods
81300Landscape service activities
Contact
E-invoicing
Reachable via Peppol
Peppol ID
0208:0765559137
Also
9925:BE0765559137
Registered
07-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.