Equity
€50,218 ▲ 20.0%
MSD has made a profit without a break since 2023.
MSD
Part of the group
22 companies in 4 countries
Lifetime
5 annual accounts with figures on one time axispeak €31,386 (2023)
€9,585▲ 75.9%
lowest -€42,173 (2021)
€8,374▲ 88.7%
peak €50,218 (2025)
€50,218▲ 20.0%
€42,275unchanged
peak 0.4 FTE (2021)
0 FTE
Board7 names since 2020
2 directors and 1 other
Owners
67.5%
Documentsfilings and deeds
27-01-20264 days before the deadline
2025abbreviated format
Gross margin from €5,448 to €9,585Result from €4,437 to €8,374Registered office moved from Beveren-Kruibeke-Zwijndrecht to… 30-12Equity from €41,844 to €50,218Cash from €217 to €1,861
Key points
from the 2025 annual accountsTurnover
≈ €64,000 estimated
The abbreviated format states no turnover.
Filings
5 annual accounts since 2021
The last five annual accounts were filed 3 to 41 days before the end of the period.
At the same address
7 companies
Board
3 joined · 2 left
Board changed. Latest change 01-04-2026 · 3 in office.
Position in the sector
€50,218
Less equity than 84% of companies in wholesale trade. Sector median €493,293 · 10,740 companies.
Checked score
Bankruptcy probability within 12 months
Financial strength
Score breakdown
Comparable companies, two years later
In July 2024, 26,973 companies had the same profile as MSD has now. Each dot stands for 68 companies, two years later.
94.8%
were still trading
3.5%
stopped another way
1.6%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
Test of the method
The method was tested on the 497,762 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 2.9% | 3.1% |
| 10 | 5.6% | 6.1% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 26,973 companies, not a prediction for MSD. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
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Signals
Board and ownership
Managing director,
Director
Director
- 67.5%equity €1.6m (2025) · 30-06-2025 annual accounts of
Recent changes
3 directors appointed, 3 resignations
Resignations: (managing director), and · Appointments: , and (managing director) · General meeting of 11-02-2026 · Gazette deed
Permanent representative:
holds all the shares · Board meeting of 27-12-2025 · Gazette deed
Registered office moved from Beveren-Kruibeke-Zwijndrecht to Aarsele
New registered office: Sterrestraat 90B, 8700 Aarsele · Previous registered office: Gentseweg 309D bus 10, 9120 Beveren-Kruibeke-Zwijndrecht · Board meeting of 19-11-2025 · Gazette deed
Resignation: (managing director)
Permanent representative: · Director discharge: · General meeting of 20-09-2021 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| MSD Tielt | €92,493 | €9,585 | 54.3% | 0 |
| ANGUS GRAND CRU Kortrijk | €55,096 | €21,230 | 57.1% | 0 |
| Your Service Devliegere Bruges | €86,308 | €18,110 | 83.9% | 0 |
| Vive Loko Waregem | €78,827 | €9,013 | 21.2% | - |
| GULLWING INVESTMENTS Avelgem | €76,466 | €8,608 | 1.1% | - |
| BERILO Wevelgem | €110,268 | €9,365 | 26.0% | - |
| New Capital Point Antwerp | €364,844 | €8,634 | 20.2% | 0 |
These companies have the same main activity as MSD: agents in non-specialised wholesale trade (NACE 46190). They are comparable in size and age: total assets between €55,100 and €365,000, founded between 2017 and 2024.
Official details
Source: KBO- Status
- Active since 18-05-2020Normal situation
- Activity
- Agents in non-specialised wholesale tradeNACE 46190and 5 others
- Establishment unit
- 2.302.471.9748700 Tielt, since 18-05-2020
- Financial year end
- 30 June
- Peppol
- Not found in the Peppol Directory
Annual accounts to 30-06-2025
- €92,493▲ 10.0%
- Filing
- Filed on 27-01-2026, 4 days before the end of the filing period
Insights on MSD
MSD files the abbreviated format. That format states no turnover. The gross margin rose from -€9,203 in 2021 to €9,585 in 2025.
holds 67.5% of the shares. In April 2026, the Official Gazette published the appointment of as managing director.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about MSD
- What is the company number of MSD?
- The company number of MSD is 0746.993.238. The VAT number is the same number with BE in front: BE 0746.993.238.
- Where is MSD based?
- The registered office is at Sterrestraat 90B, 8700 Tielt.Company details
- What does MSD do?
- According to the KBO register, the main activity is agents in non-specialised wholesale trade (NACE 46190).
- What is the legal form of MSD?
- MSD is a public limited company (NV).
- When was MSD founded?
- MSD was founded on 18-05-2020.
- Is MSD still active?
- Yes, MSD is an active enterprise in the KBO register.
- How many employees does MSD have?
- MSD had an average of 0.4 full-time equivalents in financial year 2021, according to the filed annual accounts.Financials
- What is the turnover of MSD?
- The turnover in financial year 2025 is ≈ €64,000. This figure is estimated from the gross margin of €9,585 and 38 comparable companies (NACE 46190). It probably lies between €37,000 and €130,000. It is a rough estimate.
- Is MSD profitable?
- In financial year 2025, MSD made a profit of €8,374.
- Where can I find the annual accounts of MSD?
- MSD filed 5 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of MSD due?
- MSD must file the annual accounts for financial year 2026 by 31-01-2027.Timeline
Next steps
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