Equity
Equity fell below zero in 2024.
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Embed the MSBD company card in your article about this bankruptcy: name, enterprise number, its status in the KBO and the latest annual accounts, with a link to this dossier.
Equity fell below zero in 2024.
The result fell in 2024 from -€138,958 to -€240,737.
Of this, €352,245 falls due within a year.
Green is investment, beige is depreciation.
In 2024, 3 people joined and 3 left.
Equity fell from €191,247 in 2022 to -€188,448 in 2024.
On 19 March 2026 the court declared MSBD bankrupt.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
The turnover shown is an estimate from the gross margin.
Turnover ≈ €1.2m. Estimated: probably between €710,000 and €2.0m.
Higher than 10% of 288 companies in 2024.
Higher than 38% of 278 companies in 2024.
Higher than 6% of 280 companies in 2024.
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: middle half · Working capital: middle half · Staff: middle half
Staff costs divided by the average number of full-time equivalents.
In 2024, 3 people joined and 3 left. Training hours in 2024: 127.
| Line | Trend | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||
20/58 |
759,920 | 1.0m | 1.3m | 179,183 | 144,768 | 59,590 | 41,042 | |
20 |
503 | 759 | 1,014 | 1,343 | 366 | 660 | 953 | |
21/28 |
359,737 | 513,876 | 667,723 | 37,298 | 23,708 | 212 | 688 | |
21 |
320,000 | 480,000 | 640,449 | 2,216 | 3,982 | - | - | |
22/27 |
29,884 | 24,023 | 21,791 | 29,600 | 15,783 | 119 | 595 | |
23 |
3,227 | 3,087 | 1,835 | - | - | - | - | |
24 |
19,829 | 17,751 | 19,956 | 29,600 | 15,783 | 119 | 595 | |
26 |
6,829 | 3,185 | - | - | - | - | - | |
28 |
9,853 | 9,853 | 5,483 | 5,483 | 3,943 | 93 | 93 | |
29/58 |
399,680 | 489,453 | 590,120 | 140,542 | 120,693 | 58,719 | 39,401 | |
40/41 |
316,443 | 372,862 | 562,155 | 124,339 | 99,249 | 21,189 | 33,667 | |
40 |
209,321 | 221,559 | 532,659 | 101,884 | 97,112 | 15,349 | 20,774 | |
41 |
107,122 | 151,303 | 29,496 | 22,455 | 2,137 | 5,840 | 12,893 | |
54/58 |
57,643 | 89,947 | 26,659 | 13,734 | 19,760 | 36,130 | 5,245 | |
490/1 |
25,594 | 26,645 | 1,305 | 2,469 | 1,685 | 1,399 | 489 | |
| Balance sheet: equity and liabilities | ||||||||
10/49 |
759,920 | 1.0m | 1.3m | 179,183 | 144,768 | 59,590 | 41,042 | |
10/15 |
-188,448 | 52,289 | 191,247 | 130,256 | 77,297 | 25,343 | 5,759 | |
10/11 |
59,000 | 59,000 | 59,000 | 59,000 | 3,599 | 3,599 | 3,599 | |
100 |
- | - | - | - | - | 3,599 | 3,599 | |
13 |
73,000 | 73,000 | 73,000 | 13,000 | 19,000 | 19,000 | 540 | |
130/1 |
- | - | - | - | 6,000 | - | - | |
130 |
- | - | - | - | - | 6,000 | 540 | |
1311 |
- | - | - | - | 6,000 | - | - | |
133 |
73,000 | 73,000 | 73,000 | 13,000 | 13,000 | 13,000 | - | |
14 |
-320,448 | -79,711 | 59,247 | 58,256 | 54,698 | 2,744 | 1,620 | |
16 |
- | 82,823 | 112,680 | - | - | - | - | |
160/5 |
- | 82,823 | 112,680 | - | - | - | - | |
164/5 |
- | 82,823 | 112,680 | - | - | - | - | |
17/49 |
948,369 | 868,976 | 954,930 | 48,927 | 67,471 | 34,247 | 35,283 | |
17 |
595,124 | 516,924 | 613,524 | - | - | - | - | |
170/4 |
595,124 | 516,924 | 613,524 | - | - | - | - | |
42/48 |
352,245 | 351,052 | 336,388 | 48,752 | 67,471 | 34,234 | 35,283 | |
42 |
160,566 | 153,863 | 110,334 | 2,954 | 3,036 | - | 5,024 | |
44 |
17,820 | 26,251 | 106,372 | 12,951 | 7,750 | 5,731 | 3,531 | |
440/4 |
17,820 | 26,251 | 106,372 | 12,951 | 7,750 | 5,731 | 3,531 | |
45 |
154,908 | 79,620 | 40,396 | 23,455 | 17,615 | 3,232 | 8,711 | |
450/3 |
43,802 | 22,015 | 6,701 | 17,551 | 14,891 | 3,232 | 1,311 | |
454/9 |
111,106 | 57,606 | 33,696 | 5,904 | 2,724 | - | 7,400 | |
47/48 |
18,950 | 91,318 | 79,285 | 9,392 | 39,069 | 25,272 | 18,017 | |
492/3 |
1,000 | 1,000 | 5,018 | 175 | - | 13 | - | |
| Income statement | ||||||||
76A |
- | - | 383 | - | - | - | - | |
9900 |
503,633 | 539,704 | 760,592 | 94,068 | 99,112 | 27,900 | 5,896 | |
62 |
563,046 | 512,396 | 360,436 | 77,160 | 29,157 | - | - | |
630 |
169,571 | 171,333 | 174,102 | 11,171 | 4,627 | 769 | 1,346 | |
635/8 |
-82,823 | -29,857 | 112,680 | - | - | - | - | |
640/8 |
74,286 | 2,718 | 1,236 | - | - | - | - | |
66A |
-1,876 | 1,213 | - | - | - | - | - | |
9901 |
-218,571 | -118,098 | 112,137 | 5,737 | 65,328 | 27,131 | 4,549 | |
75/76B |
- | - | - | - | 2 | - | - | |
75 |
- | - | - | - | 2 | - | - | |
65/66B |
21,625 | 20,483 | 25,913 | 936 | 583 | 493 | 282 | |
65 |
21,625 | 20,483 | 25,913 | 936 | 583 | 493 | 282 | |
9903 |
-240,196 | -138,581 | 86,223 | 4,801 | 64,746 | 26,638 | 4,267 | |
67/77 |
541 | 377 | 25,233 | 1,243 | 12,793 | 7,053 | 2,107 | |
9904 |
-240,737 | -138,958 | 60,990 | 3,558 | 51,954 | 19,585 | 2,160 | |
9905 |
-240,737 | -138,958 | 60,990 | 3,558 | 51,954 | 19,585 | 2,160 | |
| Appropriation of the result | ||||||||
9906 |
-320,448 | -79,711 | 119,247 | 58,256 | 54,698 | 21,204 | 2,160 | |
14P |
-79,711 | 59,247 | 58,256 | 54,698 | - | - | - | |
691/2 |
- | - | 60,000 | - | - | 18,460 | 540 | |
6920 |
- | - | - | - | - | 5,460 | 540 | |
6921 |
- | - | 60,000 | - | - | 13,000 | - | |
| Social balance sheet | ||||||||
9087 |
10.8 | 10.8 | 7.2 | 1.9 | 0.6 | - | - | |
Hours worked1013 |
15,222 | 16,204 | 10,679 | 3,448 | 1,040 | - | - | |
| Document | ||||||||
The notes to these accounts have 18 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2024 (PDF), filed on 24-06-2025.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2024 | full format | 24-06-2025 | 2025-00168493 | |
| 31-12-2023 | full format | 08-07-2024 | 2024-00224340 | |
| 31-12-2022 | full format | 03-07-2023 | 2023-00196601 | |
| 31-12-2021 | micro format | 15-06-2022 | 2022-20066882 | |
| 31-12-2020 | micro format | 23-07-2021 | 2021-40300033 | |
| 31-12-2019 | micro format | 28-07-2020 | 2020-35400556 | |
| 31-12-2018 | micro format | 31-07-2019 | 2019-43400107 |
| Line | Trend | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| -49,000 | 53,235 | 286,239 | 16,908 | 69,955 | 27,900 | 5,896 | ||
| -71,166 | 32,376 | 235,093 | 14,729 | 56,581 | 20,354 | 3,506 | ||
| 15,177 | 17,231 | 804,198 | 24,461 | 27,830 | 293 | 1,522 | ||
| -32,303 | 63,287 | 12,925 | -6,026 | -16,370 | 30,885 | - | ||
| 47,435 | 138,402 | 253,732 | 91,790 | 53,223 | 24,485 | 4,118 | ||
| -24.8% | 5.2% | 15.2% | 72.7% | 53.4% | 42.5% | 14.0% | ||
| 1.13 | 1.39 | 1.75 | 2.88 | 1.79 | 1.72 | 1.12 | ||
| - | 16.62 | 4.99 | 0.38 | 0.87 | 1.35 | 6.13 | ||
| - | -265.8% | 31.9% | 2.7% | 67.2% | 77.3% | 37.5% | ||
| -31.7% | -13.8% | 4.8% | 2.0% | 35.9% | 32.9% | 5.3% | ||
| -2.27 | 2.60 | 11.05 | 18.06 | - | - | - |
EBIT margin: not included in this filing.
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 31-12-2024 | 31-12-2023 | 31-12-2022 | 31-12-2021 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 11 | 11 | 10 | 2 |
| full-time | 10 | 10 | 10 | 2 |
| part-time | 1 | 1 | - | - |
| in full-time equivalents | 10.8 | 10.8 | 10 | 2 |
| 10.8 | 10.6 | 7.2 | 1.9 | |
| On a permanent contract | 11 | 10 | 8 | 2 |
| Joined | 3 | 6 | 13 | 2 |
| Left | 3 | 5 | 5 | 2 |
| Training hours | 127 | 108 | - | - |
Source: social balance sheet in the 2021 to 2024 annual accounts
| Item | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|
| Debts guaranteed by Belgian public bodies | €265,983 | €321,948 | €377,192 | - |
| €475,000 | €475,000 | €475,000 | - |
Source: notes to the 2021 to 2024 annual accounts (statement of debts and off-balance-sheet rights and commitments)
| Item | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|
| Tangible fixed assets | €15,177 | €12,861 | €4,198 | €22,921 |
| Intangible fixed assets | - | - | €800,000 | - |
| Financial fixed assets | - | €4,370 | - | €1,540 |
| €169,571 | €171,333 | €174,102 | €11,171 |
Source: notes to the 2021 to 2024 annual accounts (statement of fixed assets)
The operating result for 2024 is a loss of €218,571, larger than the loss of €118,098 in 2023. It is the lowest result since 2018.
Equity is negative. Debt (€948,369) exceeds the balance-sheet total (€759,920).
MSBD has no parent and no holdings in its annual accounts.
The network starts from the directors of MSBD. Every other company they run is a node.
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Rue de la Motte, B.-en-F. 45 registered office 5660 Couvin | 10-05-2017 | 2.265.046.703 |
| C'LA - Customs & Logistics Agency Avenue Général Michel 1, 6000 Charleroi 52100 Warehousing and storage | 26-02-2020 | 2.299.549.997 |
| C' LA - Customs & Logistics Agency Rue Jean Perrin 5, 7170 Manage 52100 Warehousing and storage | 01-01-2022 | 2.326.086.130 |
| C' LA - Customs & Logistics Agency Rue de la Gare 20, 5660 Couvin 52100 Warehousing and storage | 01-04-2023 | 2.342.540.496 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 52011B0239/00F177 | 2,193 m² | 1 · 1,807 m² | 20.5 m · 5 |
| 93006D0498/00Y000 | 944 m² | 1 · 101 m² | 8.3 m · 2 |
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