MSCUBE
ActiveSummary
MSCUBE has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €123,182 and a net result of €2,471. Equity is growing by ~9.3% per year across the filed fiscal years. Its solvency ranks better than 59% of 7081 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability70▼-5
Solvency89▼-11
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €8,000 at 30 days acceptable
Liquidity ample (current ratio 2.52 against 3.86 in 2024; short-term debt: 35.6% and cash: 16.6% of total assets), and 35.6% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
64.4%
Return on assets
1.3%
Age of the figures
9 mo
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
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 28-04-2026, 94 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
94 d early
2024
66 d early
2023
40 d early
2022
61 d early
2021
11 d late
2020
52 d early
2019
7 d late
← 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 42 days before the deadline; the sector median for financial year 2024 is 6 days before the deadline, and 36% 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€123,182▼ 18.9%
2024 · €151,822
Total assets
€191,259▼ 2.2%
2024 · €195,474
Net result
€2,471▼ 76.2%
2024 · €10,386
Working capital
€103,733▼ 16.9%
2024 · €124,860
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 73, Advertising, market research and public relations activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€7,709€36,851€66,124▲ 79.4%€14,569▼ 78.0%€3,693▼ 74.7%
Net result-€8,915below the sector's middle half€26,252within the sector's middle half€47,130above the sector's middle half▲ 79.5%€10,386within the sector's middle half▼ 78.0%€2,471within the sector's middle half▼ 76.2%
Equity€118,207within the sector's middle half▼ 7.0%€123,493within the sector's middle half▲ 4.5%€170,624within the sector's middle half▲ 38.2%€151,822within the sector's middle half▼ 11.0%€123,182within the sector's middle half▼ 18.9%
Total assets€167,443within the sector's middle half▲ 6.1%€153,283within the sector's middle half▼ 8.5%€206,897within the sector's middle half▲ 35.0%€195,474within the sector's middle half▼ 5.5%€191,259within the sector's middle half▼ 2.2%
Debt€49,236▲ 60.5%€29,789▼ 39.5%€36,274▲ 21.8%€43,652▲ 20.3%€68,078▲ 56.0%
Working capital€107,932▼ 3.1%€101,360▼ 6.1%€138,395▲ 36.5%€124,860▼ 9.8%€103,733▼ 16.9%
Solvency70.6%within the sector's middle half▼ 10.0pp80.6%above the sector's middle half▲ 10.0pp82.5%above the sector's middle half▲ 1.9pp77.7%within the sector's middle half▼ 4.8pp64.4%within the sector's middle half▼ 13.3pp
above
within
below
the middle half (P25 to P75) of NACE 73, Advertising, market research and public relations 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 has fallen two years in a row; 2025 is 75% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €191,259
Fixed assets
€19,448 ▼ 27.9%
Current assets
€171,811 ▲ 2.0%
Equity and liabilities €191,259
Equity
€123,182 ▼ 18.9%
Debt
€68,078 ▲ 56.0%
Debt's share of the balance-sheet total rises from 22.3% to 35.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€11,206▼
2024 · €21,666
Cash flow
€9,985▼
2024 · €17,483
Current ratio
2.52▼
2024 · 3.86
Debt to equity
0.55▲
2024 · 0.29
ROE
2.0%▼
2024 · 6.8%
ROA
1.3%▼
2024 · 5.3%
Interest coverage
73.24▼
2024 · 145.65
Debt ≤ 1 year
€68,078▲
2024 · €43,652
Income taxes
€1,270▼
2024 · €4,381
Staff costs
€164▲
2024 · €46
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 10,891 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
0.6%
went bankrupt
4.0%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 0.9% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 10,891 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €17 | €46 | €164 | ▲ 260% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,472 | €7,134 | €5,492 | €7,097 | €7,514 | ▲ 5.9% |
| Other operating charges640/8 | €787 | €4,336 | €1,480 | €477 | €500 | ▲ 4.9% |
| Gross operating margin9900 | -€1,450 | €48,321 | €73,112 | €22,188 | €11,871 | ▼ 46.5% |
| Operating profit (loss)9901 | -€7,709 | €36,851 | €66,124 | €14,569 | €3,693 | ▼ 74.7% |
| Financial income75/76B | €59 | €0 | €121 | €347 | €202 | ▼ 41.8% |
| Recurring financial income75 | €59 | €0 | €121 | €347 | €202 | ▼ 41.8% |
| Financial charges65/66B | €908 | €351 | €147 | €149 | €153 | ▲ 2.9% |
| Recurring financial charges65 | €908 | €351 | €147 | €149 | €153 | ▲ 2.9% |
| Profit (loss) for the period before taxes9903 | -€8,557 | €36,500 | €66,099 | €14,767 | €3,741 | ▼ 74.7% |
| Income taxes67/77 | €358 | €10,248 | €18,968 | €4,381 | €1,270 | ▼ 71.0% |
| Profit (loss) for the period9904 | -€8,915 | €26,252 | €47,130 | €10,386 | €2,471 | ▼ 76.2% |
| Profit (loss) for the period to be appropriated9905 | -€8,915 | €26,252 | €47,130 | €10,386 | €2,471 | ▼ 76.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €167,443 | €153,283 | €206,897 | €195,474 | €191,259 | ▼ 2.2% |
| Fixed assets21/28 | €10,275 | €22,133 | €32,228 | €26,962 | €19,448 | ▼ 27.9% |
| Tangible fixed assets22/27 | €5,473 | €17,330 | €27,426 | €22,160 | €14,646 | ▼ 33.9% |
| Plant, machinery and equipment23 | - | - | €2,026 | €1,226 | €426 | ▼ 65.3% |
| Furniture and vehicles24 | €1,820 | €17,330 | €25,400 | €20,934 | €14,220 | ▼ 32.1% |
| Leasing and similar rights25 | €3,653 | €0 | - | - | - | - |
| Financial fixed assets28 | €4,802 | €4,802 | €4,802 | €4,802 | €4,802 | = |
| Current assets29/58 | €157,168 | €131,150 | €174,669 | €168,512 | €171,811 | ▲ 2.0% |
| Amounts receivable within one year40/41 | €77,876 | €71,596 | €58,038 | €50,757 | €72,157 | ▲ 42.2% |
| Trade receivables40 | €65,725 | €59,444 | €57,989 | €33,996 | €51,358 | ▲ 51.1% |
| Other amounts receivable41 | €12,151 | €12,151 | €48 | €16,762 | €20,799 | ▲ 24.1% |
| Current investments50/53 | - | - | €60,000 | €60,000 | €60,000 | = |
| Cash at bank and in hand54/58 | €60,039 | €58,758 | €56,243 | €57,341 | €31,718 | ▼ 44.7% |
| Deferred charges and accrued income490/1 | €19,253 | €796 | €388 | €413 | €7,936 | ▲ 1,821% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €167,443 | €153,283 | €206,897 | €195,474 | €191,259 | ▼ 2.2% |
| Equity10/15 | €118,207 | €123,493 | €170,624 | €151,822 | €123,182 | ▼ 18.9% |
| Contributions10/11 | €6,240 | €6,240 | €6,240 | €6,240 | €6,240 | = |
| Reserves13 | €117,619 | €117,253 | €164,384 | €145,582 | €116,942 | ▼ 19.7% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €0 | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €0 | - | - | - |
| Distributable reserves133 | €115,759 | €115,393 | €164,384 | €145,582 | €116,942 | ▼ 19.7% |
| Profit (loss) carried forward14 | -€5,652 | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €49,236 | €29,789 | €36,274 | €43,652 | €68,078 | ▲ 56.0% |
| Amounts payable within one year42/48 | €49,236 | €29,789 | €36,274 | €43,652 | €68,078 | ▲ 56.0% |
| Trade debts44 | €34,018 | €5,325 | €9,090 | €22,847 | €39,009 | ▲ 70.7% |
| Suppliers440/4 | €34,018 | €5,325 | €9,090 | €22,847 | €39,009 | ▲ 70.7% |
| Taxes, remuneration and social security45 | €15,150 | €22,690 | €24,750 | €18,248 | €11,336 | ▼ 37.9% |
| Taxes450/3 | €15,150 | €22,690 | €24,750 | €18,248 | €11,336 | ▼ 37.9% |
| Other amounts payable47/48 | €67 | €1,774 | €2,434 | €2,558 | €17,733 | ▲ 593% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€8,915 | €26,252 | €47,130 | €10,386 | €2,471 | ▼ 76.2% |
| + Depreciation and write-downs630 | €5,472 | €7,134 | €5,492 | €7,097 | €7,514 | ▲ 5.9% |
| Operating cash flow (approximation) | -€3,443 | €33,386 | €52,622 | €17,483 | €9,985 | ▼ 42.9% |
| Investment in fixed assets (approximation) | - | -€18,992 | -€15,587 | -€1,831 | €0 | ▲ 100% |
| Change in cash | - | -€1,280 | -€2,515 | €1,098 | -€25,623 | ▼ 2,434% |
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
28-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
26-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
21-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2018net €47,130 ▲79.5%
Operating result €66,124, net result €47,130, both a record.
31-12
Financial
Equity above €150,000Eq €170,624 ▲38.2%
2 profitable years in a row build equity to €170,624.
31-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €26,252
Net result €26,252 after one loss-making year.
11-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 11 days late
2021
31-12
Financial
Weakest financial yearnet -€8,915
Net result drops to -€8,915, the lowest in the series; recovery starts the following year.
09-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Equity above €100,000Eq €127,122 ▲37.2%
3 profitable years in a row build equity to €127,122.
07-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 7 days late
Show earlier events
2019
12-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
04-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
23-06
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.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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-Pieters-Woluwe · 1 establishment unit since 2013
Ground area
684 m²
Building footprint
177 m²
Volume, LiDAR
1,199 m³
Parcel 21682C0151/00S015, Brussels · tallest building 8.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MSCUBE
since 20132.223.714.112
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21682C0151/00S015 | Brussels | 684 m² | 1 · 177 m² | 8.8 m · 2 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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Of 13,417 companies in sector 73300 we hold annual accounts for 6,899. 5,535 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded25-10-2013
Fiscal year end31-12
Activities, NACEBEL 2025
73300Public relations and communication consultancy
62900Other information technology and computer services
70200Business and other management consultancy
71121Engineering and related technical consultancy, excluding land surveyors
Contact
Website
www.magic-gantt.com
E-mail
christophe.waucquez@gmail.com
E-invoicing
Reachable via Peppol
Peppol ID
0208:0541424801
Also
9925:BE0541424801
Registered
27-02-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.