MS RACING
ActiveSummary
MS RACING has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€42,094) and a net result of -€501. Equity is growing by ~13% per year across the filed fiscal years. Its solvency ranks better than 7% of 7859 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability68▼-11
Solvency0=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
cash: 38.1% of total assets, and equity is negative.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 82
Relative position
BE, all sectors
reference
Office administrative, office support and other business support activities (NACE 82)
about 37% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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 2025Solvency, return and age of the figures
Solvency
-55.9%
Return on assets
-0.7%
Age of the figures
9 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€42,094
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 18-05-2026, 74 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
74 d early
2024
24 d early
2023
58 d early
2022
68 d early
2021
88 d early
2020
39 d early
2019
39 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 56 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 35% 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 24 May (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
-€42,094▼ 1.2%
2024 · -€41,593
Total assets
€75,282▲ 10.4%
2024 · €68,170
Net result
-€501
2024 · €5,726
Working capital
€21,338
2023 · -€1,160
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
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 82, Office administrative, office support and other business support 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), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€10,616▲ 53.4%€10,463▼ 1.4%€23,282▲ 123%€5,821▼ 75.0%-€409
Net result€10,484within the sector's middle half▲ 53.9%€10,326within the sector's middle half▼ 1.5%€27,080within the sector's middle half▲ 162%€5,726within the sector's middle half▼ 78.9%-€501below the sector's middle half
Equity-€84,724below the sector's middle half▲ 11.0%-€74,398below the sector's middle half▲ 12.2%-€47,318below the sector's middle half▲ 36.4%-€41,593below the sector's middle half▲ 12.1%-€42,094below the sector's middle half▼ 1.2%
Total assets€57,157below the sector's middle half▼ 9.1%€51,884below the sector's middle half▼ 9.2%€49,315below the sector's middle half▼ 5.0%€68,170within the sector's middle half▲ 38.2%€75,282within the sector's middle half▲ 10.4%
Debt€141,881▼ 10.3%€126,283▼ 11.0%€96,633▼ 23.5%€109,762▲ 13.6%€117,376▲ 6.9%
Working capital€1,312within the sector's middle half▼ 2.9%€1,603within the sector's middle half▲ 22.1%-€1,160within the sector's middle half€21,338within the sector's middle half
Solvency-148.2%below the sector's middle half▲ 3.1pp-143.4%below the sector's middle half▲ 4.8pp-96.0%below the sector's middle half▲ 47.4pp-61.0%below the sector's middle half▲ 34.9pp-55.9%below the sector's middle half▲ 5.1pp
Current ratio22.11above the sector's middle half▲ 14.3026.23above the sector's middle half▲ 4.120.47below the sector's middle half▼ 25.76
Return on assets (ROA)18.3%within the sector's middle half▲ 7.5pp19.9%within the sector's middle half▲ 1.6pp54.9%above the sector's middle half▲ 35.0pp8.4%within the sector's middle half▼ 46.5pp-0.7%below the sector's middle half▼ 9.1pp
Staff (FTE)
above
within
below
the middle half (P25 to P75) of NACE 82, Office administrative, office support and other business support activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €409 after €5,821 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €75,282
Fixed assets
€45,645 ▼ 2.5%
Current assets
€29,637 ▲ 38.9%
Key figures and ratios
EBITDA
€777▼
2024 · €7,291
Cash flow
€685▼
2024 · €7,196
Debt to equity
-2.79▼
2024 · -2.64
Interest coverage
8.42▼
2024 · 76.13
Debt > 1 year
€117,376▲
2024 · €109,762
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,795 companies that looked in July 2024 the way this one looks now, 2.1% went bankrupt within 24 months and 90% are still going.
- Micro
- 20 years or older
- negative equity
- a small loss
2.1%
went bankrupt
6.0%
stopped otherwise
90%
still going
A further 1.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.4% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
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 2,795 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,565 | €5,565 | €1,917 | €1,470 | €1,186 | ▼ 19.3% |
| Other operating charges640/8 | €1,945 | €1,984 | €2,179 | €2,253 | €2,323 | ▲ 3.1% |
| Gross operating margin9900 | €18,125 | €18,012 | €27,378 | €9,544 | €3,101 | ▼ 67.5% |
| Operating profit (loss)9901 | €10,616 | €10,463 | €23,282 | €5,821 | -€409 | ▼ 107% |
| Financial income75/76B | - | - | €4,008 | €0 | - | - |
| Recurring financial income75 | - | - | €4,008 | €0 | - | - |
| Non-recurring financial income76B | - | - | €4,008 | €0 | - | - |
| Financial charges65/66B | €70 | €74 | €151 | €96 | €92 | ▼ 3.7% |
| Recurring financial charges65 | €70 | €74 | €151 | €96 | €92 | ▼ 3.7% |
| Profit (loss) for the period before taxes9903 | €10,546 | €10,389 | €27,139 | €5,726 | -€501 | ▼ 109% |
| Income taxes67/77 | €62 | €64 | €60 | €0 | - | - |
| Profit (loss) for the period9904 | €10,484 | €10,326 | €27,080 | €5,726 | -€501 | ▼ 109% |
| Profit (loss) for the period to be appropriated9905 | €10,484 | €10,326 | €27,080 | €5,726 | -€501 | ▼ 109% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €57,157 | €51,884 | €49,315 | €68,170 | €75,282 | ▲ 10.4% |
| Fixed assets21/28 | €55,783 | €50,218 | €48,301 | €46,831 | €45,645 | ▼ 2.5% |
| Tangible fixed assets22/27 | €55,783 | €50,218 | €48,301 | €46,831 | €45,645 | ▼ 2.5% |
| Land and buildings22 | €55,783 | €50,218 | €48,301 | €46,831 | €45,645 | ▼ 2.5% |
| Current assets29/58 | €1,374 | €1,666 | €1,013 | €21,338 | €29,637 | ▲ 38.9% |
| Cash at bank and in hand54/58 | €195 | €387 | €86 | €20,404 | €28,695 | ▲ 40.6% |
| Deferred charges and accrued income490/1 | €1,179 | €1,279 | €928 | €934 | €941 | ▲ 0.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €57,157 | €51,884 | €49,315 | €68,170 | €75,282 | ▲ 10.4% |
| Equity10/15 | -€84,724 | -€74,398 | -€47,318 | -€41,593 | -€42,094 | ▼ 1.2% |
| Contributions10/11 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Profit (loss) carried forward14 | -€103,316 | -€92,990 | -€65,910 | -€60,185 | -€60,686 | ▼ 0.8% |
| Amounts payable17/49 | €141,881 | €126,283 | €96,633 | €109,762 | €117,376 | ▲ 6.9% |
| Amounts payable after more than one year17 | €141,819 | €126,219 | €94,460 | €109,762 | €117,376 | ▲ 6.9% |
| Financial debts170/4 | €141,819 | €126,219 | €94,460 | €109,762 | €117,376 | ▲ 6.9% |
| Amounts payable within one year42/48 | €62 | €64 | €2,173 | €0 | - | - |
| Trade debts44 | - | - | €2,113 | €0 | - | - |
| Suppliers440/4 | - | - | €2,113 | €0 | - | - |
| Taxes, remuneration and social security45 | €62 | €64 | €60 | €0 | - | - |
| Taxes450/3 | €62 | €64 | €60 | €0 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €10,484 | €10,326 | €27,080 | €5,726 | -€501 | ▼ 109% |
| + Depreciation and write-downs630 | €5,565 | €5,565 | €1,917 | €1,470 | €1,186 | ▼ 19.3% |
| Operating cash flow (approximation) | €16,048 | €15,890 | €28,997 | €7,196 | €685 | ▼ 90.5% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €192 | -€302 | €20,319 | €8,291 | ▼ 59.2% |
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
18-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
07-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
03-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2018net €27,080 ▲162%
Operating result €23,282, net result €27,080, both a record.
24-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
04-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Liquidity triplescurrent ratio 22.11
Current ratio from 7.81 to 22.11; short-term debt falls from €198 to €62.
22-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Back to profitnet €6,813
Net result €6,813 after 2 loss-making years.
22-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Liquidity times 11current ratio 6.00
Current ratio from 0.52 to 6.00; short-term debt falls from €3,462 to €463.
04-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
24-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
28-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
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.
Location & real-estate footprint
Registered office, Lubbeek · 1 establishment unit since 1992
Ground area
854 m²
Building footprint
318 m²
Volume, LiDAR
1,550 m³
Parcel 24063B0282/00R000, Flanders · tallest building 9.9 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
MS RACING
since 19922.059.392.449
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24063B0282/00R000 | Flanders | 854 m² | 1 · 318 m² | 9.9 m · 1 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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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 24,516 companies in sector 82990 we hold annual accounts for 9,420. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded12-06-1992
Fiscal year end31-12
Activities, NACEBEL 2025
82990Other business support services
71209Other technical testing and analysis
73200Market research and public opinion polling
74999Other professional, scientific and technical activities
81100Combined facilities support activities
Contact
Phone
0497/81.77.73Lubbeek
E-invoicing
Reachable via Peppol
Peppol ID
0208:0447624019
Also
9925:BE0447624019
Registered
20-02-2026
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.