MSD TECHNICS
ActiveFrom the official registers: KBO 3 annual accounts at the National Bank publications in the Belgian Official Gazette
Summary
MSD TECHNICS has been active since 2023 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €60,810 and a net result of €35,381. Equity is growing by about 535% per year across the filed financial years. Its solvency ranks better than 76% of 34,855 sector peers (NACE 43, financial year 2025). The computed 12-month bankruptcy probability is 1.3% (low).
Overview
Official details
KBO- Status
- Active since 13-01-2023 Normal situation
- Legal form
- Private limited company
- Registered office
- Portugeesstraat 72, 1790 Affligem
- Activity
- Installation of electric heating, air conditioning, cooling and ventilation NACE 43222and 1 other
- Establishment unit
- 2.341.911.679 1790 Affligem, since 13-01-2023
- Financial year end
- 31 December
- Peppol
- Reachable since 26-12-2025
How it is doing
- Bankruptcy probabilitywithin 12 months
- 1.3%
- Gross margin
- €47,881
- Turnover
- ≈ €280,000
- estimated
- Profit
- €35,381
- Equity
- €60,810
- ▲ 12×
- Total assets
- €85,931
- ▲ 789%
Why 67raises riskSize: total assets €85,931Last filed accounts filed 17 days late; 2 of the last 3 lateFounded in 2023lowers riskLiquidity: current ratio 3.26, cash €15,401Show the evidence
Checked score
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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): better than 77% on solvency, 58% on liquidity, 92% on profitability and 99% on growth.
The bankruptcy probability was computed on 31-10-2026 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.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 3 accounts on average 79 days after the deadline; the sector median (NACE 43) for financial year 2024 is 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
Financials · financial year 2025, micro format
2025 annual accounts filed late (17 days) Filed on 17 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00401315.
Annual accounts 2025
- Financial year ended
- 31-12-2025
- Filed on
- 17-08-2026
- Format
- micro format
- Reference
- 2026-00401315
2023 to 2025, 3 financial years
The operating result is €45,947 in 2025, compared with €7,347 in 2023. Comparable figures for the intervening years are unavailable.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 43, Specialised construction activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Peer companies
Historical observationOf the 39,278 companies that looked in July 2024 the way this one looks now, 1.8% went bankrupt within 24 months and 95.9% are still going.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
For this company itself Checked computes a bankruptcy probability of 1.3% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 39,278 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.
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €227 | - | €1,138 | - |
| Other operating charges640/8 | €1,242 | - | €797 | - |
| Gross operating margin9900 | €8,816 | - | €47,881 | - |
| Operating profit (loss)9901 | €7,347 | - | €45,947 | - |
| Financial income75/76B | - | - | €131 | - |
| Recurring financial income75 | - | - | €131 | - |
| Financial charges65/66B | €241 | - | €1,843 | - |
| Recurring financial charges65 | €241 | - | €1,843 | - |
| Profit (loss) for the period before taxes9903 | €7,106 | - | €44,234 | - |
| Income taxes67/77 | €2,005 | - | €8,853 | - |
| Profit (loss) for the period9904 | €5,101 | - | €35,381 | - |
| Profit (loss) for the period to be appropriated9905 | €5,101 | - | €35,381 | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €9,670 | €9,670 | €85,931 | ▲ 789% |
| Fixed assets21/28 | €2,905 | €2,905 | €4,098 | ▲ 41.1% |
| Tangible fixed assets22/27 | €2,905 | €2,905 | €4,098 | ▲ 41.1% |
| Plant, machinery and equipment23 | - | - | €2,237 | - |
| Furniture and vehicles24 | €2,905 | €2,905 | €1,861 | ▼ 35.9% |
| Current assets29/58 | €6,765 | €6,765 | €81,833 | ▲ 12× |
| Stocks and contracts in progress3 | - | - | €27,480 | - |
| Stocks30/36 | - | - | €27,480 | - |
| Amounts receivable within one year40/41 | €3,758 | €3,758 | €38,227 | ▲ 917% |
| Trade receivables40 | - | - | €19,185 | - |
| Other amounts receivable41 | €3,758 | €3,758 | €19,042 | ▲ 407% |
| Cash at bank and in hand54/58 | €3,007 | €3,007 | €15,401 | ▲ 412% |
| Deferred charges and accrued income490/1 | - | - | €725 | - |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €9,670 | €9,670 | €85,931 | ▲ 789% |
| Equity10/15 | €5,201 | €5,201 | €60,810 | ▲ 12× |
| Contributions10/11 | €100 | €100 | €10,000 | ▲ 100× |
| Reserves13 | €5,101 | €5,101 | €15,429 | ▲ 202% |
| Distributable reserves133 | €5,101 | €5,101 | €15,429 | ▲ 202% |
| Profit (loss) carried forward14 | - | - | €35,381 | - |
| Amounts payable17/49 | €4,468 | €4,468 | €25,121 | ▲ 462% |
| Amounts payable within one year42/48 | €4,468 | €4,468 | €25,121 | ▲ 462% |
| Trade debts44 | €1,064 | €1,064 | €12,245 | ▲ 12× |
| Suppliers440/4 | €1,064 | €1,064 | €12,245 | ▲ 12× |
| Taxes, remuneration and social security45 | €2,005 | €2,005 | €12,875 | ▲ 542% |
| Taxes450/3 | €2,005 | €2,005 | €12,875 | ▲ 542% |
| Other amounts payable47/48 | €1,400 | €1,400 | - | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €5,101 | - | €35,381 | - |
| + Depreciation and write-downs630 | €227 | - | €1,138 | - |
| Operating cash flow (approximation) | €5,328 | - | €36,518 | - |
| Investment in fixed assets (approximation) | - | €0 | -€2,331 | - |
| Change in cash | - | €0 | €12,394 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Mandate history
- Board
| Name | Functions and periods |
|---|---|
| DERKAOUI Mounaim |
|
How the board is organised
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- Each director alone
- Board ruleHow the board is made up, meets and takes decisions.
- “1, aantal,duur opdracht,bevoegdheid indien meerdere”“Vaste of evenredige vergoeding, al dan niet ten kosteloze titel”
Oversight and winding up
- Statutory auditorA statutory auditor is a registered auditor who checks the accounts; small companies need not have one. According to the deed, the legal criteria do not require one here.
- No statutory auditor
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Beslissing van algemene vergadering beslissende in vormen vereist voor statutenwijziging”
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- One provision in the deed
Articles of association, deed of 17-01-2023
Owners and capital
Capital and shareholders
- DERKAOUI Mounaim 1,000 shares (100%) · €10,000
- 17-01-2023 Incorporation · €10,000 · 1,000 shares
Shares according to the articles of association
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- “Op naam, register van aandelen op naam”
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Helft overdrager en helft koper(s) naar evenredigheid bij meer kopers, geen beroep op rechter tegen weigering”
Other provisionsRules from the articles on subjects other than the board, the shares, the purpose and the meetings.
Articles of association, deed of 17-01-2023 (in Dutch)
Group and network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
17-01
Gazette deed
IncorporationAppointment: DERKAOUI Mounaim (director) · Registered office clause · Board rule17 facts ▸
- Other provision, “uitwerking slot-en overgangsbepalingen, elke comparant” (deed in Dutch)
- Registered office clause, “1790 Affligem,Portugeesstraat,72” (deed in Dutch)
- Other provision, “nog niet, website en e-mailadres” (deed in Dutch)
- Board rule, 1
- Director appointment, DERKAOUI Mounaim (director)
- Pre-incorporation commitments, “takeover, alle verbintenissen en verplichtingen en alle activiteiten ondernomen in naam en voor rekening van vennootschap in oprichting” (deed in Dutch)
- Other provision, “volmachten”, / (deed in Dutch)
- Other provision, “in uitvoering van voorwerp, vergunning-voorafgaande toelatingen” (deed in Dutch)
- Other provision, “recht op geschriften, geheven” (deed in Dutch)
- Other provision, “Koekelberg, slotakte” (deed in Dutch)
- Founder, DERKAOUI Mounaim (comparant)
- Other provision, “bevoegdheid en bekwaamheid” (deed in Dutch)
- +5 further facts in this act
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
Register details
Who it is
KBO recordWhere it is based
What it does
NACEBEL 2025Invoicing and payment
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice, with enterprise number 0797.132.835
Financial year and general meeting
Accounts at the NBBScores and ratios are computed by Checked and are not a credit decision.
Purpose, financial year and meetings according to the articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “Alle activiteiten en dienstverlening,installatie,installatie en onderhoud van verwarmings-,klimaatregelings- en…”
8 activities
- Alle activiteiten en dienstverlening,installatie,installatie en onderhoud van verwarmings-,klimaatregelings- en ventilatiesystemen,loodgieterswerk,opleiding van verwarmingsinstallateurs,consultancy,advisering,hulp,informatie,analyse,studies en projectbeheer op het gebied van airconditioning,alsmede als commerciële makelaardij op de hierboven beschreven gebieden.
- Alle cursusactiviteiten,opleidingen,organisatie van evenementen,beurzen,conferenties,vergaderingen,seminaries,avonden,incentives,recepties,evenals alle entertainment- of recyclingactiviteiten voor particulieren of bedrijven.
- Het beheren,exploiteren,verwerven en verlenen van patenten,licenties,handelsmerken en handelsnamen,processen en andere intellectuele eigendomsrechten.
- Elke commerciële activiteit in de ruime zin van het woord in België of in het buitenland (vertegenwoordiging,verkoop,enz.).
- Op vastgoedgebied,creatie en beheer van projecten,advisering,beheer van eigendom of vastgoedrechten,studies,coördinatie,exploitatie,verkaveling,ontwikkeling,agentuur,beheer en werfcoördinatie,veiligheid,risicoanalyse.
- Alle vastgoedtransacties,in het bijzonder aankoop,verkoop,beheer,bouw,transformatie,ontwikkeling,verhuur,onderverhuur,beheer,expertise en alles wat direct of indirect verband houdt met de exploitatie van vastgoed.
- De vennootschap mag alle handels-,industriële,financiële,roerende of onroerende verrichtingen verrichten die rechtstreeks of onrechtstreeks,geheel of gedeeltelijk verband houden met haar doel of die haar ontwikkeling kunnen bevorderen.
- Zij kan met alle middelen een belang nemen in alle vennootschappen,verenigingen of ondernemingen,zowel in België als in het buitenland,die een gelijkaardig of verwant doel hebben of dat de ontwikkeling van haar activiteiten kan bevorderen.
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- MSD TECHNICS
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Enkel besluit bestuursorgaan, enkel besluit bestuursorgaan”
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Last Friday of June at 18:00
Articles of association, deed of 17-01-2023 (in Dutch)
Environmental permits: No permit applications found in Flanders.
Sites & property
1 establishment unit
Buildings and parcels at the address
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 23085A1170/00G002 | Flanders | 379 m² | 1 · 125 m² | 9.8 m · 2 |