Overdue debts
€750 on 30-06-2025
The annual accounts state €750 of overdue tax debts on 30-06-2025.
MSD CONSTRUCT
Lifetime
1 annual account with figurespeak -€5,380 (2025)
-€5,380
lowest -€12,327 (2025)
-€12,327
peak -€9,327 (2025)
-€9,327
€24,444
Board2 names since 2024
2 directorsMESDAGH Baptiste Olivier Carine and 1 other
Documentsfilings and deeds
21-01-202610 days before the deadline
2025micro format
Loss of €12,327First year with figures
Key points
from the 2025 annual accountsEquity
-€9,327
Debts exceed assets in financial year 2025.
Debts
€24,444 162% of the balance sheet
Financial debts 27%Suppliers 26%Taxes and wages 16%Other 31%
Of this, €17,864 falls due within a year.
Turnover not published (micro format)
Checked score
47
Fair
Financially stronger than 8% of micro companies in construction of buildings (NACE 41)
Probability in this band: 1.5% to 4.2%
Bankruptcy probability within 12 months
3.7% Moderate
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 1.5% across 13,460 companies (NACE 41, micro).
About 4 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
08-2025: 3.6%lowest value
09-2025: 3.7%▲ +0.1 percentage points vs 08-2025
10-2025: 4.0%▲ +0.3 percentage points vs 09-2025
11-2025: 4.2%▲ +0.2 percentage points vs 10-2025
12-2025: 4.5%▲ +0.3 percentage points vs 11-2025
01-2026: 4.5%● unchanged vs 12-2025
02-2026: 5.0%▲ +0.5 percentage points vs 01-2026
03-2026: 4.9%▼ -0.1 percentage points vs 02-2026
04-2026: 4.7%▼ -0.2 percentage points vs 03-2026
05-2026: 4.8%▲ +0.1 percentage points vs 04-2026
06-2026: 5.2%▲ +0.4 percentage points vs 05-2026
07-2026: 5.2%● unchanged vs 06-2026
08-2026: 5.2%● unchanged vs 07-2026highest value
09-2026: 5.2%● unchanged vs 08-2026highest value
10-2026: 3.7%▼ -1.5 percentage points vs 09-2026
11-2026: 3.7%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Founded in 2024
Sector: Construction of residential and non-residential buildings (NACE 41)
Negative equity -€9,327
lowers risk
Size: total assets €15,118
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 41, micro). It does better than 3% of them on solvency, 14% on liquidity and 5% on profitability.
The bankruptcy probability was computed on 10-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 30-06-2025.
Of the companies with a bankruptcy probability in the moderate class on 30-06-2025, 2.4% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 7,639 companies had the same profile as MSD CONSTRUCT has now. Each dot stands for 20 companies, two years later.
84.7%
were still trading
5.6%
stopped another way
8.8%
went bankrupt
Another 0.8% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MSD CONSTRUCT itself: 3.7% within 12 months.
Test of the method
The method was tested on the 497,448 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 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
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 7,639 companies, not a prediction for MSD CONSTRUCT. 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
No credit on open account
Liquidity is insufficient, with a current ratio of 0.56, below 1. Short-term debt is 118.2% and cash 13.7% of total assets. Equity is negative.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 21-01-2026, 10 days ahead of the deadline.
NBB · 1 filingDeviation from the deadline
2025
10 days early
← before the deadline
after the deadline →
Searched, nothing found (1)
Board and ownership
- MESDAGH Fabrice 50 sharesdeed of 05-07-2024
- MESDAGH Baptiste Olivier Carine 50 sharesdeed of 05-07-2024
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:1011138787
Incorporation
Founding capital of €3,000, 100 shares · Founders: MESDAGH Fabrice and MESDAGH Baptiste Olivier Carine · Appointments: MESDAGH Fabrice (director) and MESDAGH Baptiste Olivier Carine (director) · published on 05-07-2024 · Gazette deed
First establishment
Rue du Braquet 70, Charleroi
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| MSD CONSTRUCT Charleroi | €15,118 | -€5,380 | -61.7% | - |
| IMPAIR SOLUTION Brussels | €14,734 | -€602 | -16.7% | - |
| ANCRE RENOVATION Zaventem | €14,258 | -€11,526 | -30.2% | - |
| JEWC - Construction et rénovation Sint-Pieters-Leeuw | €14,472 | -€4,346 | 39.5% | - |
| AS Building Design Bree | €16,494 | -€5,723 | 17.0% | - |
| AGC SRL Hasselt | €13,079 | -€3,809 | -22.6% | - |
| DIRK MEURISSE Wortegem-Petegem | €17,469 | -€8,331 | 55.5% | - |
These companies have the same main activity as MSD CONSTRUCT: general construction of residential buildings (NACE 41001). They are comparable in size and age: total assets between €13,100 and €17,500, founded between 2023 and 2024.
Official details
Source: KBO- Status
- Active since 03-07-2024Normal situation
- Activity
- General construction of residential buildingsNACE 41001and 3 others
- Establishment unit
- 2.361.653.0606061 Charleroi, since 03-07-2024
- Financial year end
- 30 June
- Peppol
- Reachable since 15-10-2025
Annual accounts to 30-06-2025
- €15,118
- ≈ 0 FTEestimated
- Filing
- Filed on 21-01-2026, 10 days before the end of the filing period
Insights on MSD CONSTRUCT
The computed 12-month bankruptcy probability of MSD CONSTRUCT is 3.7% (moderate). The 2025 annual accounts show negative equity (-€9,327) and a net result of -€12,327.
Its solvency ranks better than 5% of 9,471 sector peers (NACE 41, financial year 2025). The company has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals.
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 CONSTRUCT
- What is the company number of MSD CONSTRUCT?
- The company number of MSD CONSTRUCT is 1011.138.787. The VAT number is the same number with BE in front: BE 1011.138.787.
- Where is MSD CONSTRUCT based?
- The registered office is at Rue du Braquet 70, 6061 Charleroi.Company details
- What does MSD CONSTRUCT do?
- According to the KBO register, the main activity is general construction of residential buildings (NACE 41001).
- What is the legal form of MSD CONSTRUCT?
- MSD CONSTRUCT is a private limited company (BV).
- When was MSD CONSTRUCT founded?
- MSD CONSTRUCT was founded on 03-07-2024.
- Is MSD CONSTRUCT still active?
- Yes, MSD CONSTRUCT is an active enterprise in the KBO register.
- What is the turnover of MSD CONSTRUCT?
- The annual accounts for financial year 2025 state no turnover. The micro format does not require it.Financials
- Is MSD CONSTRUCT profitable?
- In financial year 2025, MSD CONSTRUCT made a loss of €12,327.
- Where can I find the annual accounts of MSD CONSTRUCT?
- MSD CONSTRUCT filed 1 annual account with the National Bank of Belgium, for financial year 2025.
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can trust this company with building work.Contractor check Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Check which of your other customers you can e-invoice via Peppol.Peppol check Compare this company with its sector.Sector benchmark
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