MSB
Open bankruptcyA bankruptcy procedure is open for MSB according to publications in the Belgian State Gazette; curator: JASPER BAERT. The 2024 annual accounts show negative equity (€-279k) and a net result of €-51k.
Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Negative equity
Equity is negative for financial year 2024: liabilities exceed assets. This is the trigger point of the alarm-bell procedure (Belgian CAC).
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year -€279k
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 06-10-2025, 67 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 · 10 filingsDeviation from the deadline
2025
not confirmed
2024
67 d late
2023
408 d late
2022
658 d late
2021
968 d late
2020
1332 d late
2019
1679 d late
← before the deadline
after the deadline →
raises risk · Administrative warnings in the KBO publications
1 publication by the FPS Economy about this company, such as a strike-off for address, accounts or UBO, or its withdrawal.
KBO publicationsPublications
Strikeout withdrawn
Financials · fiscal year 2024, micro schema
Turnover
€324k
EBIT margin
-25.3%
Net result
€-51k▲ 10.9%
2023 · €-57k
2018: €-82k
2019: €3k
2020: €-34k
2021: €11k
2022: €-50k
2023: €-57k
2018 → 2024
Working capital
€-308k▼ 13.3%
2023 · €-272k
2018: €-116k
2019: €-113k
2020: €-191k
2021: €-180k
2022: €-229k
2023: €-272k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€-131k-€-120k▲ 8.4%€-170k▼ 41.2%€-228k▼ 33.8%€-279k▼ 22.5%
Operating result€-34k-€11k€-50k€-56k▼ 13.4%€-51k▲ 8.7%
Net result€-34k-€11k€-50k€-57k▼ 15.8%€-51k▲ 10.9%
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 stays negative: a loss of €51k in 2024 against €56k in 2023; the loss shrinks.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €53k
Fixed assets
€29k▼ 34.0%
Current assets
€24k▲ 1.6%
Key figures and ratios
EBITDA
€-36k▲
2023 · €-41k
Cash flow
€-36k▲
2023 · €-42k
Solvency
-521.3%▼
2023 · -333.8%
Current ratio
0.07▼
2023 · 0.08
Quick ratio
0.02▼
2023 · 0.02
Debt / equity
-1.19▲
2023 · -1.30
ROE
18.4%▼
2023 · 25.3%
ROA
-95.8%▼
2023 · -84.4%
Interest coverage
-804.00▼
2023 · -490.70
Debt
€332k▲
2023 · €296k
Debt ≤ 1 year
€332k▲
2023 · €296k
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€68k€53k▼
Fixed assets21/28€44k€29k▼
Tangible fixed assets22/27€44k€29k▼
Furniture and vehicles24€44k€29k▼
Current assets29/58€24k€24k▲
Stocks and contracts in progress3€17k€17k=
Stocks30/36€17k€17k=
Amounts receivable within one year40/41€3k€39▼
Other amounts receivable41€3k€39▼
Cash at bank and in hand54/58€3k€7k▲
Deferred charges and accrued income490/1€625-
Equity and liabilities
Total equity and liabilities10/49€68k€53k▼
Equity10/15€-228k€-279k▼
Contributions10/11€6k€6k=
Reserves13€2k€2k=
Non-distributable reserves130/1€2k€2k=
Other1319€2k€2k=
Profit (loss) carried forward14€-236k€-287k▼
Amounts payable17/49€296k€332k▲
Amounts payable within one year42/48€296k€332k▲
Trade debts44€56k€61k▲
Suppliers440/4€56k€61k▲
Taxes, remuneration and social security45-€2k
Taxes450/3-€2k
Other amounts payable47/48€240k€269k▲
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€15k€15k=
Other operating charges640/8€1k€916▼
Gross operating margin9900€-40k€-35k▲
Operating profit (loss)9901€-56k€-51k▲
Financial income75/76B€82€46▼
Recurring financial income75€82€46▼
Financial charges65/66B€84€45▼
Recurring financial charges65€84€45▼
Profit (loss) for the period before taxes9903€-56k€-51k▲
Income taxes67/77€1k-
Profit (loss) for the period9904€-57k€-51k▲
Profit (loss) for the period to be appropriated9905€-57k€-51k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-236k€-287k▼
Profit (loss) brought forward from the previous period14P€-178k€-236k▼
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2026
27-02
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Dendermonde · MSB BV MERCATOR- STRAAT 156/1, 9100 SINT-NIKLAAS · event 23-02-2026
2025
24-10
KBO administration
Strikeout withdrawn
06-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 67 days late
12-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 408 days late
19-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 658 days late
25-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 968 days late
24-03
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 1332 days late
06-03
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 1679 days late
2021
31-12
Financial
Back to profitnet €11k
Net result €11k after one loss-making year.
26-02
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 576 days late
2019
31-12
Financial
Back to profitnet €3k
Net result €3k after one loss-making year.
30-01
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 183 days late
2018
09-10
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 435 days late
2016
30-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 30 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
3 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, Sint-Niklaas · 1 establishment unit since 2008
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.
Mercatorstraat 1569100 Sint-NiklaasGround area
6,819 m²
Building footprint
3,117 m²
Volume, LiDAR
16,006 m³
2 parcels, Flanders · tallest building 10.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MSB
since 20082.176.359.603
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46444D0153/00N002 | Flanders | 4,349 m² | 1 · 803 m² | 10.8 m · 2 fl. |
| 46443E0109/00T002 | Flanders | 2,470 m² | 1 · 2,313 m² | 9.0 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | JASPER BAERT DRUKKERIJSTRAAT 11, 9240 ZELE- |
23-02-2026 → present |
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Of 2,589 companies in sector 47551 we hold annual accounts for 1,702. 978 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded21-10-2008
Fiscal year end31-12
Activities, NACEBEL
47551Retail sale of household furniture
47591Retail trade
46471Wholesale trade
Sources
Crossroads Bank for EnterprisesNational Bank · 15 filingsAddress and cadastre registers
Data from official sources, last processed on 14-09-2026. Scores and ratios are computed by Checked and are not a credit decision.