Equity
€78,195 ▲ 0.6%
MSD GROUP has made a profit without a break since 2020.
MSD GROUP
Lifetime
12 annual accounts with figures on one time axispeak €62,944 (2023)
€30,088▼ 23.3%
lowest -€552 (2019)
€469▲ 261%
peak €78,195 (2025)
€78,195▲ 0.6%
€13,887▲ 18.6%
peak 1.7 FTE (2015)
-not published
Board2 names since 2021
1 directorYILDIRIM Muhammed
Documentsfilings and deeds
29-06-202632 days before the deadline
2025micro format
Gross margin from €39,207 to €30,088Result from €130 to €469Debts from €11,706 to €13,887
Key points
from the 2025 annual accountsFilings
12 annual accounts since 2013
Two of the last ten came late. The 2016 accounts came latest: 24 days after the end of the period.
Position in the sector
84.9%
Higher solvency than 89% of companies in specialised construction. Sector median 46.7% · 35,136 companies.
Checked score
69
Healthy
Financially stronger than 51% of micro companies in specialised construction (NACE 43)
Probability in this band: 0.55% to 1.5%
Bankruptcy probability within 12 months
0.7% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.7% across 47,693 companies (NACE 43, micro).
About 7 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.1%
01-2025: 0.1%● unchanged vs 12-2024lowest value
02-2025: 0.1%● unchanged vs 01-2025lowest value
03-2025: 0.1%● unchanged vs 02-2025lowest value
04-2025: 0.1%● unchanged vs 03-2025
05-2025: 0.1%● unchanged vs 04-2025
06-2025: 0.1%● unchanged vs 05-2025
07-2025: 0.3%▲ +0.2 percentage points vs 06-2025
08-2025: 0.3%● unchanged vs 07-2025
09-2025: 0.3%● unchanged vs 08-2025
10-2025: 0.3%● unchanged vs 09-2025
11-2025: 0.3%● unchanged vs 10-2025
12-2025: 0.3%● unchanged vs 11-2025
01-2026: 0.3%● unchanged vs 12-2025
02-2026: 0.3%● unchanged vs 01-2026
03-2026: 0.7%▲ +0.4 percentage points vs 02-2026
04-2026: 0.8%▲ +0.1 percentage points vs 03-2026
05-2026: 1.1%▲ +0.3 percentage points vs 04-2026highest value
06-2026: 1.0%▼ -0.1 percentage points vs 05-2026
07-2026: 0.7%▼ -0.3 percentage points vs 06-2026
08-2026: 0.7%● unchanged vs 07-2026
09-2026: 0.7%● unchanged vs 08-2026
10-2026: 0.7%● unchanged vs 09-2026
11-2026: 0.7%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
raises risk
1 change of registered office in 24 months
Size: total assets €92,082
lowers risk
Figures for financial year 2025 (filed on 29-06-2026)
Equity €78,195 (84.9% of total assets)
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 43, micro). It does better than 90% of them on solvency, 56% on liquidity, 22% on profitability and 37% on growth.
The bankruptcy probability was computed on 09-11-2026 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 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% 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, 10,904 companies had the same profile as MSD GROUP has now. Each dot stands for 28 companies, two years later.
95.1%
were still trading
4.0%
stopped another way
0.7%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MSD GROUP itself: 0.7% within 12 months.
Test of the method
The method was tested on the 497,447 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 10,904 companies, not a prediction for MSD GROUP. 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
Credit of up to €5,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 5.62 (5.81 in 2024), above the usual 1.5. Short-term debt is 15.1% and cash 9.7% of total assets. 15.1% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
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 29-06-2026, 32 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
32 days early
2024
38 days early
2023
29 days early
2022
31 days early
2021
72 days early
2020
36 days early
2019
25 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 38 days before the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 29 June (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered office moved to Koersel
New registered office: Molendijk 53 3582 Koersel · General meeting of 16-10-2025 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0849365454
Company renamed from MSD CHAPE to MSD GROUP
Resignation: YILDIRIM Nimet (director) · Appointment: YILDIRIM Muhammed (director) · Permanent representative: YILDIRIM Muhammed · General meeting of 13-11-2023 · Gazette deed
Incorporation
published on 09-10-2012 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| MSD GROUP Beringen | €92,082 | €30,088 | 84.9% | - |
| RIBA FLOOR Ixelles | €91,621 | €29,942 | 77.4% | - |
| EXPERT Auderghem | €101,792 | €23,988 | 84.0% | - |
| Jan Van Dijck Betonvloeren Wuustwezel | €78,931 | €22,818 | 75.9% | - |
| FV RENOVE Dilbeek | €66,869 | €33,254 | -10.2% | - |
| D&S BATI Anderlecht | €81,759 | €33,301 | 55.6% | - |
| J & C Geel | €64,010 | €32,298 | 66.7% | - |
These companies have the same main activity as MSD GROUP: screed work (NACE 43422). They are comparable in size and age: total assets between €64,000 and €102,000, founded between 2009 and 2013.
Official details
Source: KBO- Status
- Active since 05-10-2012Normal situation
- Activity
- Screed workNACE 43422
- Establishment unit
- 2.302.268.5713582 Beringen, since 05-10-2012
- Financial year end
- 31 December
- Peppol
- Reachable since 12-12-2024
Annual accounts 2025
- ≈ €190,000estimated
- €92,082▲ 3.0%
- ≈ 0.1 FTEestimated
- Filing
- Filed on 29-06-2026, 32 days before the end of the filing period
Insights on MSD GROUP
MSD GROUP files the micro format. That format states no turnover. The gross margin rose from €24,995 in 2013 to €30,088 in 2025.
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 GROUP
- What is the company number of MSD GROUP?
- The company number of MSD GROUP is 0849.365.454. The VAT number is the same number with BE in front: BE 0849.365.454.
- Where is MSD GROUP based?
- The registered office is at Molendijk 53, 3582 Beringen.Company details
- What does MSD GROUP do?
- According to the KBO register, the main activity is screed work (NACE 43422).
- What is the legal form of MSD GROUP?
- MSD GROUP is a private limited company (BV).
- When was MSD GROUP founded?
- MSD GROUP was founded on 05-10-2012.
- Is MSD GROUP still active?
- Yes, MSD GROUP is an active enterprise in the KBO register.
- What is the turnover of MSD GROUP?
- The turnover in financial year 2025 is ≈ €190,000. This figure is estimated from the gross margin of €30,088 and 353 comparable companies (NACE 43). It probably lies between €120,000 and €320,000.Financials
- Is MSD GROUP profitable?
- In financial year 2025, MSD GROUP made a profit of €469.
- Where can I find the annual accounts of MSD GROUP?
- MSD GROUP filed 12 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of MSD GROUP due?
- MSD GROUP must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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