MSB-LOGISTIC
InactiveMSB-LOGISTIC was declared bankrupt on 21-11-2022 (Tribunal de l’entreprise francophone de Bruxelles); the bankruptcy was closed by liquidation by judgment of 11-03-2025, published in the Belgian State Gazette on 24-03-2025.
Summary
Inactive; last annual accounts for fiscal year 2021.
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-12-2022, 4 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 10 filingsPosition against the passed deadline
31-12-2022 close31-07-2023 deadline26-09-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2021 was due by 31-07-2022 and was filed on 19-07-2022, 12 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
not filed
2021
12 d early
2020
24 d late
2019
122 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 3 accounts on average 45 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
History
Financials · fiscal year 2021, micro schema
Turnover
€1.1m▼ 0.8%
2020 · €1.1m
EBIT margin
-4.8%▼ 7.2pp
2020 · 2.3%
Net result
-€52,847
2020 · €24,860
Working capital
-€81,552▼ 60.0%
2020 · -€50,971
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line2018201920202021
Turnover€1.5m€1.1m▼ 24.1%€1.1m▼ 0.8%
Operating result-€606--€10,789▼ 1,680%€25,784-€52,745
Net result-€864--€11,673▼ 1,251%€24,860-€52,847
EBIT margin-0.7%2.3%▲ 3.1pp-4.8%▼ 7.2pp
Equity-€5,575--€17,248▼ 209%€19,667-€33,180
Total assets€309,415€328,095▲ 6.0%€194,140▼ 40.8%
Debt€5,575-€326,663▲ 5,760%€308,428▼ 5.6%€227,320▼ 26.3%
Working capital-€24,047-€50,971▼ 112%-€81,552▼ 60.0%
Staff (FTE)2127.6▲ 31.4%
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 2021: a loss of €52,745 after €25,784 in 2020, the lowest result in the available series.
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Assets €149,647
Fixed assets
€3,879 ▼ 53.8%
Current assets
€145,768 ▼ 43.4%
Key figures and ratios
EBITDA
-€30,479▼
2020 · €48,050
Cash flow
-€30,581▼
2020 · €47,126
Solvency
-17.1%▼
2020 · 6.0%
Current ratio
0.64▼
2020 · 0.83
Debt to equity
-6.85
ROA
-27.2%▼
2020 · 7.6%
Interest coverage
-36.37
Debt ≤ 1 year
€227,320▼
2020 · €308,428
Income taxes
-€736
Staff costs
€363,788
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Turnover70 | - | €1.5m | €1.1m | €1.1m | ▼ 0.8% |
| Non-recurring operating income76A | - | - | - | €33,105 | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €779,925 | - |
| Remuneration, social security and pensions62 | - | - | - | €363,788 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €640 | €22,266 | €22,266 | = |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €30,122 | - |
| Other operating charges640/8 | - | - | - | €8,718 | - |
| Gross operating margin9900 | -€259 | €438,769 | €245,469 | €372,149 | ▲ 51.6% |
| Operating profit (loss)9901 | -€606 | -€10,789 | €25,784 | -€52,745 | ▼ 305% |
| Financial charges65/66B | - | - | - | €838 | - |
| Recurring financial charges65 | €258 | €148 | €924 | €838 | ▼ 9.3% |
| Profit (loss) for the period before taxes9903 | -€864 | -€10,938 | €24,860 | -€53,583 | ▼ 316% |
| Income taxes67/77 | - | €736 | - | -€736 | - |
| Profit (loss) for the period9904 | -€864 | -€11,673 | €24,860 | -€52,847 | ▼ 313% |
| Profit (loss) for the period to be appropriated9905 | -€864 | -€11,673 | €24,860 | -€52,847 | ▼ 313% |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | - | €309,415 | €328,095 | €194,140 | ▼ 40.8% |
| Formation expenses20 | - | - | €62,239 | €44,493 | ▼ 28.5% |
| Fixed assets21/28 | - | €6,799 | €8,399 | €3,879 | ▼ 53.8% |
| Tangible fixed assets22/27 | - | €6,799 | €8,399 | €3,879 | ▼ 53.8% |
| Plant, machinery and equipment23 | - | - | - | €3,879 | - |
| Current assets29/58 | - | €302,616 | €257,457 | €145,768 | ▼ 43.4% |
| Amounts receivable within one year40/41 | - | €297,095 | €256,043 | €144,595 | ▼ 43.5% |
| Trade receivables40 | - | - | - | €136,389 | - |
| Other amounts receivable41 | - | - | - | €8,206 | - |
| Cash at bank and in hand54/58 | - | €5,521 | €1,414 | €1,173 | ▼ 17.0% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €0 | €309,415 | €328,095 | €194,140 | ▼ 40.8% |
| Equity10/15 | -€5,575 | -€17,248 | €19,667 | -€33,180 | ▼ 269% |
| Contributions10/11 | €6,500 | €6,500 | €18,600 | €18,600 | = |
| Capital10 | - | - | - | €18,600 | - |
| Issued capital100 | - | - | - | €18,600 | - |
| Profit (loss) carried forward14 | -€12,075 | -€23,748 | €1,067 | -€51,780 | ▼ 4,953% |
| Amounts payable17/49 | €5,575 | €326,663 | €308,428 | €227,320 | ▼ 26.3% |
| Amounts payable within one year42/48 | €5,575 | €326,663 | €308,428 | €227,320 | ▼ 26.3% |
| Trade debts44 | - | €110,762 | €93,688 | €41,551 | ▼ 55.6% |
| Suppliers440/4 | - | - | - | €41,551 | - |
| Advances received on contracts in progress46 | - | - | - | €22,461 | - |
| Taxes, remuneration and social security45 | - | - | - | €162,450 | - |
| Taxes450/3 | - | - | - | €47,522 | - |
| Remuneration and social security454/9 | - | - | - | €114,928 | - |
| Other amounts payable47/48 | - | - | - | €858 | - |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€864 | -€11,673 | €24,860 | -€52,847 | ▼ 313% |
| + Depreciation and write-downs630 | - | €640 | €22,266 | €22,266 | = |
| Operating cash flow (approximation) | -€864 | -€11,033 | €47,126 | -€30,581 | ▼ 165% |
| Investment in fixed assets (approximation) | - | - | -€23,866 | -€17,746 | ▲ 25.6% |
| Change in cash | - | - | -€4,107 | -€241 | ▲ 94.1% |
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
24-03
Bankruptcy
Bankruptcy closure (by liquidation)
Tribunal de l’entreprise francophone de Bruxelles · event 11-03-2025
2022
29-11
Bankruptcy
Opening
Tribunal de l’entreprise francophone de Bruxelles · event 21-11-2022
19-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Weakest financial yearnet -€52,847
Net result drops to -€52,847, the lowest in the series.
24-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 24 days late
2020
31-12
Financial
Back to profitnet €24,860
Net result €24,860 after 2 loss-making years.
30-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 122 days late
2019
14-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 75 days late
2018
27-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 27 days late
2017
28-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 28 days late
2016
25-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 25 days late
2015
30-08
NBB filing
Annual accounts filed
fiscal year 2014 · full schema · 30 days late
2014
24-08
NBB filing
Annual accounts filed
fiscal year 2013 · full schema · 24 days late
2013
28-08
NBB filing
Annual accounts filed
fiscal year 2012 · full schema · 28 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | NICOLAS VAN DER BORGHT AVENUE DE FRE 229,
1180 FR BRUXELLES 18 |
21-11-2022 → 11-03-2025 |