MSDR PARTNERS · Checked.be

Summary

Conclusion

the dossier summarised in one paragraph

The computed 12-month bankruptcy probability of MSDR PARTNERS is 1.0% (low). The 2025 annual accounts show equity of €34k and a net result of €-9k. Equity is shrinking by ~5.7% per year across the filed fiscal years. Its solvency ranks better than 54% of 1090 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 3 annual accounts.

Filing behaviour

From the deposit records, complete market-wide

Latest accounts filed on time

The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 29-01-2026, 2 days ahead of the deadline. This speaks to administrative punctuality and says nothing about the financial position.

The next deadline is still running

The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.

How we compute the deadline

The year end is derived from 3 filed financial years, each closing on 30-06. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 30-06-2025, that is 31-01-2026.

Deadline per financial year

Year closed	Due by	Filed	Variance	Reference
30-06-2025	31-01-2026	29-01-2026	2 d early	2026-00020116
30-06-2024	31-01-2025	30-01-2025	1 d early	2025-00015561
30-06-2023	31-01-2024	29-01-2024	2 d early	2024-00015722

Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

2 signals

More than 3 years active

Founded in 2021, past the statistically most fragile first 3 years.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone

1.0% Low

0%0,5%1,5%4%10%≥25%

Young company +Lower-failure-rate sector −Annual accounts: weaker financial profile +

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Financials

TurnoverNot published (abbreviated filing)

EBIT marginNot published (abbreviated filing)

Net result€-9k

Working capital€25k-20.5%

CSV export

Annual accounts & ratios

Source: NBB · 2025

Annual accounts filed on 29-01-2026 with the NBB · fiscal year 2025 · micro

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

declining Equity: declining trend of ~5.7%/year over 3 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2025 · NACE 82 · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	57.7%	51.3%	better than 54% of 1090 sector peers
Net result	€-9k	€24k	better than 7% of 1090 sector peers
Equity	€34k	€51k	better than 41% of 1091 sector peers
Gross operating margin	€1k	€45k	better than 10% of 1090 sector peers
Total assets	€59k	€117k	better than 25% of 1092 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

Sector position over time

Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).

Solvency P54

Stable position over 2023-2025 · n=1090-3178

Net result P7

Weakening position over 2023-2025 · n=1090-3177

Equity P41

Weakening position over 2023-2025 · n=1091-3180

Gross operating margin P10

Weakening position over 2023-2025 · n=1090-3177

Describes the position versus peers, not a forecast.

EBITDA

€-2k

- 23-25

Net profit

€-9k

- 23-25

Cash flow

€-6k

- 23-25

Total assets

€59k

-1.6% 23-25

Equity

€34k

-21.1% 23-25

Working capital

€25k

-20.5% 23-25

Income taxes

€2k

-55.1% 23-25

Debt

€25k

+48.4% 23-25

Show 8 other metrics

Debt ≤ 1y

€25k

+48.4% 23-25

Current ratio

1.99

-30.1% 23-25

Quick ratio

1.99

-30.1% 23-25

Solvency

57.7%

-19.8% 23-25

Debt / equity

0.73

+88.1% 23-25

ROE

-26.8%

- 23-25

ROA

-15.4%

- 23-25

Interest coverage

-1.01

- 23-25

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2025
Deposit	micro
Revenue	-
EBITDA	€-2k
Net profit	€-9k
Cash flow	€-6k
Staff costs	-
Income taxes	€2k
Dividends	-
Total assets	€59k
Equity	€34k
Debt	€25k
of which ≤ 1y	€25k
of which > 1y	-
Working capital	€25k
Employees (FTE)	-

Ratios (computed)

	2025
Current ratio	1.99
Quick ratio	1.99
Working capital ratio	41.9%
Solvency	57.7%
Debt / equity	0.73
Long-term debt ratio	-
Interest coverage	-1.01
Gross margin	-
Net margin	-
ROA	-15.4%
ROE	-26.8%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2025

Assets

Fixed assets €9k · 15.8% Current assets €50k · 84.2%

Equity & liabilities

Equity €34k · 57.7% Debt €25k · 42.3%

Full annual accounts (21 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025
Balance sheet, Assets
TOTAL ASSETS	20/58	€59k
Fixed assets	21/28	€9k
Tangible fixed assets	22/27	€9k
Current assets	29/58	€50k
Amounts receivable within one year	40/41	€8k
Cash & bank	54/58	€10k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€59k
Equity	10/15	€34k
Contributions / capital	10/11	€3k
Accumulated profits (losses)	14	€32k
Amounts payable	17/49	€25k
Amounts payable within one year	42/48	€25k
Trade debts payable within one year	44	€5k
Income statement
Gross operating margin	9900	€1k
Operating result	9901	€-5k
Financial income	75	€25
Financial charges	65	€2k
Result before taxes	9903	€-7k
Income taxes	67/77	€2k
Net result for the period	9904	€-9k
Result to be appropriated	9905	€-9k

This table shows the latest fiscal year. 2 prior years, with figures and ratios, belong to a paid plan. See plans →

Ratios computed by Checked.

Health barometer

FY 2025 · computed

52 / 100 Fair

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.

See plans →

Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.

Directors

Directors & mandates

No directors on record

No directors or mandates are on record for this company in the CBE. Not every legal form publishes directors; if they appear in the Belgian State Gazette later, they show up here automatically.

Statutory auditor

1 auditor

Statutory auditor	IRE/IBR number	Tenure
Sacha VanderborghtCurrent Statutory auditor	-	02-01-2023 → present

Appointed statutory auditor from the Belgian State Gazette. The IRE/IBR number refers to the register of the Institute of Registered Auditors.

Insolvency mandates

No insolvency mandates (liquidators, administrators) on record for this company.

Legal Structure

NACE primary	Organisatie van congressen en beurzen(82300)
Legal form	Private limited company(610)
Incorporation	05-11-2021
Status	Active
Postal code	1640

Structure & network

Locations & real estate

Registered office

on the map · from the address register

exact location from the address register On OpenStreetMap

Establishment units

1 location

MSDR PARTNERS

Dragonderstraat 52C, 1640 Sint-Genesius-RodeOverige ondersteunende activiteiten in verband met financiële diensten, neg, exclusief verzekeringen en pensioenfondsen

since 20212.324.274.903

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Parcels2

Ground area3,090 m²

Buildings2

Building footprint320 m²

Volume (LiDAR)1,648 m³

Tallest building8.9 m · ±2 fl.

Real-estate footprint

Source: CBE × cadastre · address linking

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Flanders 2 (100%)