MSE
ActiveMSE has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €17k and a net result of €17k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 79% of 27450 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
88
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100=
Solvency100▲+68
Growth78▲+20
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1k at 30 days acceptable
Liquidity ample (current ratio 3.64 against 1.03 in 2024; short-term debt: 25.5% and cash: 36.8% of total assets), and 25.5% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Sector 43
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
74.5%
Return on assets
72.5%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-08-2026, 24 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
24 d late
2024
31 d early
2023
7 d late
2022
14 d early
2021
11 d early
2020
36 d early
2019
31 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
16-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€17k▲ 3,512%
2024 · €471
2018: €3k
2019: €-22k
2020: €-33k
2021: €-42k
2022: €-50k
2023: €-35k
2024: €471
2018 → 2025
Total assets
€23k▲ 246%
2024 · €7k
2018: €149k
2019: €166k
2020: €136k
2021: €117k
2022: €86k
2023: €42k
2024: €7k
2018 → 2025
Net result
€17k▼ 52.8%
2024 · €35k
2018: €5k
2019: €-24k
2020: €-11k
2021: €-9k
2022: €-9k
2023: €16k
2024: €35k
2018 → 2025
Working capital
€15k▲ 8,198%
2024 · €185
2018: €-38k
2019: €-57k
2020: €-58k
2021: €-65k
2022: €-70k
2023: €-61k
2024: €185
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€-42k-€-50k▼ 20.5%€-35k▲ 31.1%€471€17k▲ 3,512%
Operating result€-3k-€-3k▼ 30.5%€22k€36k▲ 63.4%€22k▼ 38.7%
Net result€-9k-€-9k▲ 0.8%€16k€35k▲ 124%€17k▼ 52.8%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 39% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €23k
Fixed assets
€2k▲ 483%
Current assets
€21k▲ 235%
Equity and liabilities €23k
Equity
€17k▲ 3,512%
Debt
€6k▼ 5.2%
The debt ratio falls from 92.9% to 25.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€22k
Cash flow
€17k
Solvency
74.5%▲
2024 · 7.1%
Current ratio
3.64▲
2024 · 1.03
Quick ratio
3.64▲
2024 · 1.03
Debt / equity
0.34
ROE
97.2%
ROA
72.5%▼
2024 · 531.1%
Interest coverage
43.77
Debt
€6k▼
2024 · €6k
Debt ≤ 1 year
€6k▼
2024 · €6k
Income taxes
€5k▲
2024 · €288
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€7k€23k▲
Fixed assets21/28€286€2k▲
Tangible fixed assets22/27-€2k
Plant, machinery and equipment23-€2k
Financial fixed assets28€286-
Current assets29/58€6k€21k▲
Amounts receivable within one year40/41€6k€13k▲
Trade receivables40-€11k
Other amounts receivable41€6k€2k▼
Cash at bank and in hand54/58-€8k
Deferred charges and accrued income490/1€425-
Equity and liabilities
Total equity and liabilities10/49€7k€23k▲
Equity10/15€471€17k▲
Contributions10/11€19k€19k=
Profit (loss) carried forward14€-18k€-2k▲
Amounts payable17/49€6k€6k▼
Amounts payable within one year42/48€6k€6k▼
Financial debts43€5k-
Credit institutions430/8€5k-
Trade debts44€844-
Suppliers440/4€844€0▼
Taxes, remuneration and social security45€288€4k▲
Taxes450/3€288€4k▲
Other amounts payable47/48-€2k
Income statement
Code20242025
Non-recurring operating income76A€21k-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630-€65
Other operating charges640/8€1k€425▼
Non-recurring operating charges66A€5k-
Gross operating margin9900€42k€22k▼
Operating profit (loss)9901€36k€22k▼
Financial income75/76B€568€8▼
Recurring financial income75€568€8▼
Financial charges65/66B€1k€503▼
Recurring financial charges65€1k€503▼
Profit (loss) for the period before taxes9903€35k€21k▼
Income taxes67/77€288€5k▲
Profit (loss) for the period9904€35k€17k▼
Profit (loss) for the period to be appropriated9905€35k€17k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-18k€-2k▲
Profit (loss) brought forward from the previous period14P€-53k€-18k▲
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
24-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 24 days late
2025
31-12
Financial
Liquidity quadruplescurrent ratio 3.64
Current ratio from 1.03 to 3.64; short-term debt falls from €6k to €6k.
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2018net €35k ▲124%
Operating result €36k, net result €35k, both a record.
31-12
Financial
Liquidity times 5current ratio 1.03
Current ratio from 0.19 to 1.03; short-term debt falls from €76k to €6k.
07-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 7 days late
2023
31-12
Financial
Back to profitnet €16k
Net result €16k after 4 loss-making years.
17-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
20-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
25-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Weakest financial yearnet €-24k ▼579%
Net result drops to €-24k, the lowest in the series; recovery starts the following year.
21-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
29-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
22-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
3 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Gembloux · 1 establishment unit since 2006
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Rue des Carrières, Isnes 255032 GemblouxGround area
1,769 m²
Building footprint
297 m²
Volume, LiDAR
2,068 m³
2 parcels, Wallonia · tallest building 9.9 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
MSE
since 20062.156.469.257
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92065A0174/00G000 | Wallonia | 993 m² | 1 · 122 m² | 7.3 m · 2 fl. |
| 92019B0469/00H004 | Wallonia | 776 m² | 1 · 175 m² | 9.9 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
Jan & Jacobs
BE 0759.501.486
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GOA PAINTWORK
BE 0863.760.848
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BRMGO CONSTRUCTION
BE 1022.915.874
Zaventem · Eq €17k
Schilderwerken Steven Decuyper
BE 0793.981.325
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THOMAS LIMBOURG INTERIEUR
BE 0794.903.518
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Of 7,864 companies in sector 43341 we hold annual accounts for 2,662. 1,967 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded26-09-2006
Fiscal year end31-12
Activities, NACEBEL
43341Painting of buildings
45441
43230Insulation installation
43291Specialised construction activities
Sources
Crossroads Bank for EnterprisesNational Bank · 19 filingsAddress and cadastre registers
Data from official sources, last processed on 16-09-2026. Scores and ratios are computed by Checked and are not a credit decision.