MS PROJECTS

Active

Private limited companyfounded 20233 yrs activeRoterijstraat 89, 8790 Waregem, BelgiumKBO/BCE: BE 0801.416.671

The computed 12-month bankruptcy probability of MS PROJECTS is 2.6% (moderate). The 2024 annual accounts show equity of €40k and a net result of €22k. Its solvency ranks better than 12% of 2096 sector peers (fiscal year 2024). The company has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals.

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Checked score

Score 2024

43 / 100

Weak

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability71▲+1

Solvency28▲+2

Growth78

Track record94

Bankruptcy probability, 12 months

2.6% Moderate

0%0.5%1.5%4%10%≥ 25%

Credit up to €1.5k at 30 days only on tighter terms

Liquidity short (current ratio 0.54 against 0.37 in 2023; short-term debt: 75% and cash: 6.9% of total assets), and 96.7% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Five signals. The signal on the left, the evidence on the right.

+raises risk○neutral

Limited track record

This company has not been active as long as an established one and statistically fails somewhat more often.

KBO · incorporation date

Age against the risk zone

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 41

Relative position

BE, all sectors

reference

Sector 41

higher

← fewer bankruptcies more bankruptcies →

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 12% of 2096 sector peers (2024).

NBB · sector comparison

Position among 2096 sector peers

Solvency

better than 12%

← weakest strongest →

Latest accounts filed on time

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 17-07-2025, 14 days ahead of the deadline.

NBB · 2 filings

Deviation from the deadline

2025

not confirmed

2024

14 d early

2023

30 d late

← before the deadline after the deadline →

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2024, abbreviated schema

Source amounts without an identifiable currency are assumed to be EUR.

Equity

€40k▲ 126%

2023 · €18k

2023: €18k

2023 → 2024

Total assets

€1.22M▼ 8.7%

2023 · €1.33M

2023: €1.33M

2023 → 2024

Net result

€22k▲ 51.8%

2023 · €15k

2023: €15k

2023 → 2024

Working capital

€-425k▲ 48.8%

2023 · €-829k

2023: €-829k

2023 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20232024Trend

Equity€18k-€40k▲ 126%

Operating result€22k-€53k▲ 143%

Net result€15k-€22k▲ 51.8%

Turnover and EBIT margin not published: the abbreviated schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result rises in 2024; 2024 is 143% above 2023.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €1.22M

59.8%

40.2%

Fixed assets €728k▼ 14.0%

Current assets €489k▲ 0.5%

Equity and liabilities €1.22M

96.7%

Equity €40k▲ 126%

Debt €1.18M▼ 10.5%

The debt ratio falls from 98.7% to 96.7%. Equity is higher and debt is lower.

Key figures and ratios

2024 value · change against 2023

EBITDA

€232k▲

2023 · €69k

Cash flow

€202k▲

2023 · €62k

Solvency

3.3%▲

2023 · 1.3%

Current ratio

0.54▲

2023 · 0.37

Quick ratio

0.40▲

2023 · 0.26

Debt / equity

29.34▼

2023 · 74.13

ROE

55.8%▼

2023 · 83.1%

ROA

1.8%▲

2023 · 1.1%

Interest coverage

10.00▼

2023 · 284.17

Debt

€1.18M▼

2023 · €1.32M

Debt ≤ 1 year

€914k▼

2023 · €1.32M

Debt > 1 year

€264k

Income taxes

€8k▲

2023 · €7k

Staff costs

€495k▲

2023 · €268k

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2024 against 2023

Balance sheet Code20232024

Assets

Total assets20/58€1.33M€1.22M▼

Formation expenses20€972€747▼

Fixed assets21/28€846k€728k▼

Intangible fixed assets21€1-

Tangible fixed assets22/27€846k€728k▼

Plant, machinery and equipment23€237k€259k▲

Furniture and vehicles24€573k€439k▼

Leasing and similar rights25€35k€28k▼

Other tangible fixed assets26€1k€2k▲

Current assets29/58€486k€489k▲

Stocks and contracts in progress3€147k€119k▼

Stocks30/36€147k€119k▼

Amounts receivable within one year40/41€323k€276k▼

Trade receivables40€297k€276k▼

Other amounts receivable41€26k€101▼

Cash at bank and in hand54/58€17k€84k▲

Deferred charges and accrued income490/1-€10k

Equity and liabilities

Total equity and liabilities10/49€1.33M€1.22M▼

Equity10/15€18k€40k▲

Contributions10/11€3k€3k=

Reserves13€15k€15k=

Distributable reserves133€15k€15k=

Profit (loss) carried forward14-€22k

Amounts payable17/49€1.32M€1.18M▼

Amounts payable after more than one year17-€264k

Financial debts170/4-€264k

Amounts payable within one year42/48€1.32M€914k▼

Current portion of amounts payable after more than one year42-€85k

Financial debts43-€150k

Credit institutions430/8-€150k

Trade debts44€194k€167k▼

Suppliers440/4€194k€167k▼

Taxes, remuneration and social security45€29k€22k▼

Taxes450/3€7k€10k▲

Remuneration and social security454/9€22k€12k▼

Other amounts payable47/48€1.09M€489k▼

Income statement Code20232024

Non-recurring operating income76A-€4k

Remuneration, social security and pensions62€268k€495k▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€48k€179k▲

Other operating charges640/8€12k€7k▼

Non-recurring operating charges66A€126-

Gross operating margin9900€350k€734k▲

Operating profit (loss)9901€22k€53k▲

Financial income75/76B€474€977▲

Recurring financial income75€474€977▲

Financial charges65/66B€244€23k▲

Recurring financial charges65€244€23k▲

Profit (loss) for the period before taxes9903€22k€31k▲

Income taxes67/77€7k€8k▲

Profit (loss) for the period9904€15k€22k▲

Profit (loss) for the period to be appropriated9905€15k€22k▲

Appropriation of the result

Profit (loss) to be appropriated9906€15k€22k▲

Transfer to equity691/2€15k-

To other reserves6921€15k-

Social balance

Average headcount (FTE)90879.37.3▼

The notes to these accounts (14 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 2Filings 2

2025

17-07

NBB filing Annual accounts filed

fiscal year 2024 · abbreviated schema

2024

30-08

NBB filing Annual accounts filed

fiscal year 2023 · abbreviated schema · 30 days late

NBB filing

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, Waregem · 1 establishment unit since 2023

establishment The establishment unit on the map

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Roterijstraat 898790 Waregem

Ground area

3,055 m²

Building footprint

1,203 m²

Volume, LiDAR

5,449 m³

Parcel 34453D0023/00D003, Flanders · tallest building 6.9 m, ±1 floor. Linked by address, not a title deed.

1 establishment unit

MS Projects

Roterijstraat 89, 8790 WaregemWaste collection, recovery and disposal activities

since 20232.346.964.389

1 parcel

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
34453D0023/00D003	Flanders	3,055 m²	1 · 1,203 m²	6.9 m · 1 fl.

Linked by address, not proof of ownership

Methodology

via registered seat: 1

1 of 1 parcel with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Public money · subsidies and aid

Flemish government

2023 to 2025 · 4 entries · 4,059 EUR awarded · 4,221 EUR paid

Year	Entries	awarded	paid
2025	1	359 EUR	691 EUR
2024	1	1,543 EUR	1,514 EUR
2023	2	2,157 EUR	2,016 EUR

Schemes

Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)

3 entries · 2,559 EUR · 2,721 EUR paid · Fonds voor Innoveren en Ondernemen

Subsidies ecologisch en veilig transport (stopgezet)

1 entry · 1,500 EUR · 1,500 EUR paid · Departement Mobiliteit en Openbare Werken

Similar companies · same sector, comparable size

ALL INTERMEDIAIR CONSULTING

BOUWWERKEN JORIS PLUSQUIN

Of 29,801 companies in sector 41001 we hold annual accounts for 16,045. 12,858 are within a factor 10 of this equity.See the whole sector

Company data · Crossroads Bank

Identification

Legal formPrivate limited company

Founded04-05-2023

Fiscal year end31-12

Activities, NACEBEL

41001General construction of residential buildings

68122Development of non-residential building projects

43310Plastering work

43320Joinery installation

43331Floor and wall tiling

Sources

Crossroads Bank for EnterprisesNational Bank · 2 filingsAddress and cadastre registers

Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.