MS PROJECT
ActiveSummary
The computed 12-month bankruptcy probability of MS PROJECT is 9.8% (elevated). The 2024 annual accounts show equity of €27k and a net result of €15k. Its solvency ranks better than 62% of 727 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
Profitability89▲+3
Solvency69▼-11
Growth85
Track record94
Bankruptcy probability, 12 months
9.8%
Elevated
0%0.5%1.5%4%10%≥ 25%
Credit up to €1k at 30 days only on tighter terms
Liquidity tight (current ratio 1.17 against 2.16 in 2023; short-term debt: 55.9% and cash: 1.1% of total assets), and 55.9% 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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 53
Relative position
BE, all sectors
reference
Postal and courier activities (NACE 53)
about 277% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 · 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
44.1%
Return on assets
24.2%
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 01-10-2025, 62 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 · 2 filingsDeviation from the deadline
2025
not confirmed
2024
62 d late
2023
59 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Turnover
€185k▲ 30.9%
2023 · €141k
2023: €141k
2024: €185k▲ +30.9% vs 2023
2023 → 2024
EBIT margin
10.1%▲ 2.9pp
2023 · 7.2%
2023: 7.2%
2024: 10.1%▲ +40.8% vs 2023
2023 → 2024
Net result
€15k▲ 45.4%
2023 · €10k
2023: €10k
2024: €15k▲ +45.4% vs 2023
2023 → 2024
Working capital
€6k▲ 47.5%
2023 · €4k
2023: €4k
2024: €6k▲ +47.5% vs 2023
2023 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20232024Trend
Turnover€141k-€185k▲ 30.9%
2023: €141k
2024: €185k▲ +30.9% vs 2023
Equity€12k-€27k▲ 121%
2023: €12k
2024: €27k▲ +121% vs 2023
Operating result€10k-€19k▲ 84.4%
2023: €10k
2024: €19k▲ +84.4% vs 2023
Net result€10k-€15k▲ 45.4%
2023: €10k
2024: €15k▲ +45.4% vs 2023
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result rises in 2024; 2024 is 84% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €61k
Fixed assets
€21k ▲ 41.4%
Current assets
€40k ▲ 448%
Equity and liabilities €61k
Equity
€27k ▲ 121%
Debt
€34k ▲ 238%
Debt's share of the balance-sheet total rises from 45.3% to 55.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€23k▲
2023 · €14k
Cash flow
€19k▲
2023 · €14k
Current ratio
1.17▼
2023 · 2.16
Debt to equity
1.27▲
2023 · 0.83
ROE
54.8%▼
2023 · 83.5%
ROA
24.2%▼
2023 · 45.6%
Interest coverage
298.62▼
2023 · 90796.80
Debt ≤ 1 year
€34k▲
2023 · €3k
Income taxes
€4k
Staff costs
€19k▲
2023 · €13k
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€22k€61k▲
Formation expenses20€0-
Fixed assets21/28€15k€21k▲
Tangible fixed assets22/27€15k€21k▲
Plant, machinery and equipment23-€8k
Furniture and vehicles24€15k€13k▼
Current assets29/58€7k€40k▲
Amounts receivable after more than one year29€7k-
Trade receivables290€6k-
Other amounts receivable291€653-
Amounts receivable within one year40/41-€39k
Trade receivables40-€39k
Cash at bank and in hand54/58€524€646▲
Equity and liabilities
Total equity and liabilities10/49€22k€61k▲
Equity10/15€12k€27k▲
Contributions10/11€2k€2k=
Profit (loss) carried forward14€10k€25k▲
Amounts payable17/49€10k€34k▲
Amounts payable after more than one year17€7k-
Trade debts175€7k-
Amounts payable within one year42/48€3k€34k▲
Trade debts44-€18k
Suppliers440/4-€18k
Taxes, remuneration and social security45€3k€16k▲
Taxes450/3€3k€13k▲
Remuneration and social security454/9€34€3k▲
Other amounts payable47/48-€723
Income statement
Code20232024
Turnover70€141k€185k▲
Goods, raw materials, services and sundry goods60/61€114k€143k▲
Remuneration, social security and pensions62€13k€19k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€4k€4k▲
Other operating charges640/8€506€453▼
Gross operating margin9900€27k€42k▲
Operating profit (loss)9901€10k€19k▲
Financial income75/76B-€0
Recurring financial income75-€0
Non-recurring financial income76B-€0
Financial charges65/66B€0€76▲
Recurring financial charges65€0€76▲
Non-recurring financial charges66B€0-
Profit (loss) for the period before taxes9903€10k€19k▲
Income taxes67/77-€4k
Profit (loss) for the period9904€10k€15k▲
Profit (loss) for the period to be appropriated9905€10k€15k▲
Appropriation of the result
Profit (loss) to be appropriated9906€10k€25k▲
Profit (loss) brought forward from the previous period14P-€10k
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2023 | 2024 | Change |
|---|---|---|---|
| Turnover70 | €141k | €185k | ▲ 30.9% |
| Goods, raw materials, services and sundry goods60/61 | €114k | €143k | ▲ 25.8% |
| Remuneration, social security and pensions62 | €13k | €19k | ▲ 41.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4k | €4k | ▲ 11.6% |
| Other operating charges640/8 | €506 | €453 | ▼ 10.4% |
| Gross operating margin9900 | €27k | €42k | ▲ 52.3% |
| Operating profit (loss)9901 | €10k | €19k | ▲ 84.4% |
| Financial income75/76B | - | €0 | - |
| Recurring financial income75 | - | €0 | - |
| Non-recurring financial income76B | - | €0 | - |
| Financial charges65/66B | €0 | €76 | ▲ 50,267% |
| Recurring financial charges65 | €0 | €76 | ▲ 50,267% |
| Non-recurring financial charges66B | €0 | - | - |
| Profit (loss) for the period before taxes9903 | €10k | €19k | ▲ 83.7% |
| Income taxes67/77 | - | €4k | - |
| Profit (loss) for the period9904 | €10k | €15k | ▲ 45.4% |
| Profit (loss) for the period to be appropriated9905 | €10k | €15k | ▲ 45.4% |
| Line | 2023 | 2024 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €22k | €61k | ▲ 174% |
| Formation expenses20 | €0 | - | - |
| Fixed assets21/28 | €15k | €21k | ▲ 41.4% |
| Tangible fixed assets22/27 | €15k | €21k | ▲ 41.4% |
| Plant, machinery and equipment23 | - | €8k | - |
| Furniture and vehicles24 | €15k | €13k | ▼ 9.4% |
| Current assets29/58 | €7k | €40k | ▲ 448% |
| Amounts receivable after more than one year29 | €7k | - | - |
| Trade receivables290 | €6k | - | - |
| Other amounts receivable291 | €653 | - | - |
| Amounts receivable within one year40/41 | - | €39k | - |
| Trade receivables40 | - | €39k | - |
| Cash at bank and in hand54/58 | €524 | €646 | ▲ 23.3% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €22k | €61k | ▲ 174% |
| Equity10/15 | €12k | €27k | ▲ 121% |
| Contributions10/11 | €2k | €2k | = |
| Profit (loss) carried forward14 | €10k | €25k | ▲ 145% |
| Amounts payable17/49 | €10k | €34k | ▲ 238% |
| Amounts payable after more than one year17 | €7k | - | - |
| Trade debts175 | €7k | - | - |
| Amounts payable within one year42/48 | €3k | €34k | ▲ 911% |
| Trade debts44 | - | €18k | - |
| Suppliers440/4 | - | €18k | - |
| Taxes, remuneration and social security45 | €3k | €16k | ▲ 369% |
| Taxes450/3 | €3k | €13k | ▲ 293% |
| Remuneration and social security454/9 | €34 | €3k | ▲ 7,677% |
| Other amounts payable47/48 | - | €723 | - |
| Line | 2023 | 2024 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | €10k | €15k | ▲ 45.4% |
| + Depreciation and write-downs630 | €4k | €4k | ▲ 11.6% |
| Operating cash flow (approximation) | €14k | €19k | ▲ 36.7% |
| Investment in fixed assets (approximation) | - | €-10k | - |
| Change in cash | - | €122 | - |
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
01-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 62 days late
2024
28-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 59 days late
NBB filing
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, Sint-Gillis (bij-Brussel) · 1 establishment unit since 2022
Ground area
57 m²
Building footprint
58 m²
Volume, LiDAR
661 m³
Parcel 21562A0122/02W000, Brussels · tallest building 15.3 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
MS PROJECT
since 20222.337.710.193
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21562A0122/02W000 | Brussels | 57 m² | 1 · 58 m² | 15.3 m · 4 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 siteSint-Gillis2.337.710.193
Parcel delivery
Notified to the BIPT
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Of 429 companies in sector 53100 we hold annual accounts for 127. 106 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
Founded04-11-2022
Fiscal year end31-12
Activities, NACEBEL 2025
53100Postal and courier activities
53200Other postal and courier activities
47781Retail sale of solid, liquid and gaseous fuels, excluding motor fuels
Scores and ratios are computed by Checked and are not a credit decision.