MSDOC
ActiveSummary
MSDOC is less than twelve months old. There is no public track record yet to compute a bankruptcy probability from. The 2025 annual accounts show equity of €26,953 and a net result of €21,953. Its solvency ranks better than 22% of 20,720 sector peers (NACE 86, financial year 2025). The company has been active since 2025 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 11-12-2025 Normal situation
- Activity
- General medical practice NACE 86210
- Establishment unit
- 2.387.195.932 4500 Huy, since 11-12-2025
- Financial year end
- 31 December
- Peppol
- Reachable since 18-12-2025
Financial position
Too young for a bankruptcy probability
Annual accounts 2025
- Gross margin
- €29,494
- Turnover
- ≈ €91,000
- estimated
- Profit
- €21,953
- Equity
- €26,953
- Total assets
- €113,342
- 2025 accounts filed 28 days after the deadline
Signalsraises riskWeak solvency compared with the sectorYoung company2025 accounts filed 28 days lateShow the evidence
Checked score
Score 2025
70
/ 100
Healthy
Without a bankruptcy probability, the score rests on the figures alone.
Financial strength
Strong
Solvency
49
equity 23.8% of total assets
Liquidity
70
short-term debt 23.8% · cash 22.6%
Profitability
93
return on assets 19.4%
Bankruptcy probability within 12 months
The company is less than 12 months old. Its public track record is still too short for a reliable bankruptcy probability.
Credit of up to €1,500 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 4.03, above the usual 1.5. Short-term debt is 23.8% and cash 22.6% of total assets. However, 76.2% of the assets are financed with debt and provisions.
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Signals
Three signals.
raises risk
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 22% of 20720 sector peers (2025).
NBB · sector comparisonPosition among 20720 sector peers
Solvency
better than 22%
← weakest
strongest →
raises risk · Young company
Founded in 2025, less than a year ago. Young companies fail more often than established ones; the risk is highest 2 to 8 years after founding.
KBO · incorporation dateAge against the risk zone
raises risk · 2025 accounts filed 28 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 1 filingDeviation from the deadline
2025
28 days late
← before the deadline
after the deadline →
Searched, nothing found (1)
Financials
Financials · financial year 2025, micro format
2025 annual accounts filed 28 days after the deadline Filed on 28 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00443783.
Annual accounts 2025 filed on 28-08-2026 at the NBB
Turnover
≈ €91,000
Estimated: probably between €65,000 and €130,000
Total assets
€113,342
Net result
€21,953
Working capital
€81,720
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
Equity and liabilities €113,342
Equity
€26,953
Debt
€86,389
Debt's share of the balance-sheet total is 76.2%.
Key figures and ratios
EBITDA
€29,494
Cash flow
€21,966
Current ratio
4.03
Debt to equity
3.21
ROE
81.4%
ROA
19.4%
Interest coverage
over 100
Debt ≤ 1 year
€27,002
Debt > 1 year
€59,386
Income taxes
€7,350
Annual accounts
| Line | 2025 |
|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13 |
| Gross operating margin9900 | €29,494 |
| Operating profit (loss)9901 | €29,481 |
| Financial income75/76B | €2 |
| Recurring financial income75 | €2 |
| Financial charges65/66B | €180 |
| Recurring financial charges65 | €180 |
| Profit (loss) for the period before taxes9903 | €29,303 |
| Income taxes67/77 | €7,350 |
| Profit (loss) for the period9904 | €21,953 |
| Profit (loss) for the period to be appropriated9905 | €21,953 |
| Line | 2025 | |
|---|---|---|
| Assets | ||
| Total assets20/58 | €113,342 | |
| Formation expenses20 | €4,620 | |
| Current assets29/58 | €108,722 | |
| Amounts receivable within one year40/41 | €79,511 | |
| Trade receivables40 | €77,965 | |
| Other amounts receivable41 | €1,545 | |
| Cash at bank and in hand54/58 | €25,659 | |
| Deferred charges and accrued income490/1 | €3,552 | |
| Equity and liabilities | ||
| Total equity and liabilities10/49 | €113,342 | |
| Equity10/15 | €26,953 | |
| Contributions10/11 | €5,000 | |
| Profit (loss) carried forward14 | €21,953 | |
| Amounts payable17/49 | €86,389 | |
| Amounts payable after more than one year17 | €59,386 | |
| Financial debts170/4 | €59,386 | |
| Amounts payable within one year42/48 | €27,002 | |
| Current portion of amounts payable after more than one year42 | €18,579 | |
| Trade debts44 | €1,073 | |
| Suppliers440/4 | €1,073 | |
| Taxes, remuneration and social security45 | €7,350 | |
| Taxes450/3 | €7,350 | |
| Other amounts payable47/48 | €0 | |
| Line | 2025 |
|---|---|
| Profit (loss) for the period9904 | €21,953 |
| + Depreciation and write-downs630 | €13 |
| Operating cash flow (approximation) | €21,966 |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (1)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 28-08-2026 | 2026-00443783 |
Board & ownership
Directors
Directors
1 director, no change since 2025
MILAZZO Santo
Current
Director (not named in the articles) · appointed in the act of 15-12-2025 · term without a fixed end · also on the board of 1 other company · listed in the 2025 annual accounts, filed on 28-08-2026
Signing authorityThe articles say who may bind the company, for example by signing a contract.
Each director alone
deed of 15-12-2025Owners and capital
Shareholders
At incorporation
act of 15-12-2025 ↗
- MILAZZO Santo 100 shares (100%) · €5,000 in cash
Capital transactions
Capital over time
- 15-12-2025 Incorporation · €5,000 · 100 shares
Articles of association
Capital, shares and profit
- Share issue ruleThe articles set how and by whom new shares are issued.
- “Les actions doivent être libérées à leur émission, En cas d’actionnaire unique-administrateur, ce dernier détermine librement, au fur et à…”
Audit, dissolution and liquidation
- Statutory auditorA statutory auditor is a registered auditor who checks the annual accounts. Small companies need not have one. According to the deed, the legal criteria do not require one here.
- No statutory auditor
- Liquidation ruleIn a liquidation the creditors are paid first. What is left goes to the shareholders.
- “Si aucun autre liquidateur n'a été désigné, L'assemblée générale peut désigner un ou plusieurs liquidateurs et déterminer leurs pouvoirs et…”
Articles of association, deed of 15-12-2025 (in French)
Network & group
Connections & network
1 connected companyThe connected companies are in the list below.
This company
Company
Director
Shareholding
+N: links not shown yet
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Linked via shared directors
CABINET MEDICAL MDM
via MILAZZO Santo · Director (not named in the articles)
→
Timeline
Acts, filings and financial milestones
2026
28-08
micro format · 28 days late
2025
15-12
Gazette deed
IncorporationStarting capital €5,000 · Appointment: MILAZZO Santo (director) · Bank account8 points ▸
Gazette deed
Incorporation
Starting capital €5,000 · Appointment: MILAZZO Santo (director) · Bank account8 points ▸
- Incorporation, 11-12-2025
- Founding capital, €5,000
- Bank account, “Banque CBC, compte spécial au nom de la société en formation” (deed in French)
- Registered office clause, “4500 Huy, rue du Mont Falise 146” (deed in French)
- Director appointment, MILAZZO Santo (director (not named in the articles))
- Pre-incorporation commitments, “takeover, Tous les engagements, obligations et activités entreprises au nom et pour compte de la société en formation” (deed in French)
- Power of attorney, MILAZZO Santo
- Other provision, “constitution costs”, 1607.93 (deed in French)
Gazette deedNBB filing
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
Company details
Register details
Identity
KBO recordName
MSDOC in French
Enterprise number
1031.494.337
Legal form
Private limited company
Status
Active, normale toestand
Founded
11-12-2025
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 15-12-2025 (in French)Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Région wallonne, sièges administratifs, agences, ateliers, dépôts et succursales en Belgique et à l'étranger par simple décision de l’organe…”
deed of 15-12-2025 (in French)Registered office and establishments
Registered office
Rue du Mont Falise 146, 4500 Huy, Belgium
Establishment unit
MSDOC SPRL, Rue du Mont Falise 146, 4500 Huy since 11-12-2025 · unit number 2.387.195.932
Activities
NACEBEL 202586210
General medical practice main activity
PurposeThe purpose describes the activities the company may carry out under its articles.
deed of 15-12-2025 (in French)
“En assurant la gestion d'un centre médical ou d'un cabinet médical, en ce compris l'acquisition, la location et l'entretien du matériel…”
12 activities
- En assurant la gestion d'un centre médical ou d'un cabinet médical, en ce compris l'acquisition, la location et l'entretien du matériel médical et des biens d'équipement, la facturation et la perception d'honoraires médicaux, la mise à disposition de tout ce qui est nécessaire à la pratique de l'art de guérir
- En permettant la création, la construction, la location, l'acquisition, l'organisation et le fonctionnement d'un cabinet médical ou d'un centre médical de nature à faciliter l'exercice de la profession de médecin
- En assurant la défense des intérêts professionnels, moraux et matériels des médecins travaillant dans le cadre de la société
- Favoriser la recherche scientifique en organisant des activités de recyclage et en nouant des contacts avec tous les organismes poursuivant les mêmes buts
- L'exercice de la médecine par le ou les actionnaires qui la composent, lesquels sont exclusivement des médecins inscrits au Tableau de l'Ordre des Médecins ou des sociétés de médecins à personnalité juridique dont les statuts ont été approuvés par le Conseil de l’Ordre des Médecins
- La pratique d’intervention chirurgicales
- De consultations
- De réunions oncologiques – multidisciplinaires et de services
- Diverses tâches administratives (planning, etc…)
- Des interventions et consultations en garde
- Le rôle de médecin coordinateur de maisons de repos
- L'exercice de la médecine
Invoicing and payment
VAT number
BE 1031.494.337
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Second Friday of June at 18:00
deed of 15-12-2025 (in French)Voting ruleThe articles set which majority the meeting decides by, for example a simple or a special majority.
“Tout actionnaire peut donner procuration écrite à toute autre personne, actionnaire ou non, par tout moyen de transmission, délibérations”
deed of 15-12-2025 (in French)Sites & property
Location
Buildings and parcels at the address
Ground area
2,084 m²
Building footprint
135 m²
Building volume
931 m³
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 61322A0032/00K007 | Wallonia | 2,084 m² | 1 · 135 m² | 9.2 m · 2 |