MSG Care
ActiveMSG Care has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €42k and a net result of €184k. Equity is shrinking by ~10% per year across the filed fiscal years. Its solvency ranks better than 13% of 384 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
63
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100=
Solvency34▼-1
Growth78=
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2.5k at 30 days acceptable
Liquidity tight (current ratio 1.1 against 1.1 in 2024; short-term debt: 90.6% and cash: 57.9% of total assets), and 90.6% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Nine signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 88
Relative position
BE, all sectors
reference
Sector 88
lower
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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
9.4%
Return on assets
41.3%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 13% of 384 sector peers (2025).
NBB · sector comparisonPosition among 384 sector peers
Solvency
better than 13%
← weakest
strongest →
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 22-07-2026, 9 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
9 d early
2024
9 d early
2023
26 d early
2022
88 d early
2021
46 d early
2020
47 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
17-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€42k▼ 27.0%
2024 · €58k
2020: €-69k
2021: €133k
2022: €62k
2023: €86k
2024: €58k
2020 → 2025
Total assets
€446k▼ 22.6%
2024 · €577k
2020: €339k
2021: €406k
2022: €770k
2023: €741k
2024: €577k
2020 → 2025
Net result
€184k▲ 7.4%
2024 · €172k
2020: €-69k
2021: €202k
2022: €228k
2023: €374k
2024: €172k
2020 → 2025
Working capital
€42k▼ 22.0%
2024 · €54k
2020: €-71k
2021: €134k
2022: €59k
2023: €82k
2024: €54k
2020 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€133k-€62k▼ 53.8%€86k▲ 39.5%€58k▼ 32.9%€42k▼ 27.0%
Operating result€250k-€312k▲ 24.6%€503k▲ 61.3%€237k▼ 52.8%€254k▲ 6.9%
Net result€202k-€228k▲ 12.8%€374k▲ 64.0%€172k▼ 54.1%€184k▲ 7.4%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 7% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €446k
Equity
€42k▼ 27.0%
Debt
€404k▼ 22.1%
The debt ratio rises from 90.0% to 90.6%. Equity and debt are lower.
Key figures and ratios
Solvency
9.4%▼
2024 · 10.0%
Current ratio
1.10=
2024 · 1.10
Quick ratio
1.10=
2024 · 1.10
Debt / equity
9.61▲
2024 · 9.00
ROE
438.2%▲
2024 · 297.8%
ROA
41.3%▲
2024 · 29.8%
Debt
€404k▼
2024 · €519k
Debt ≤ 1 year
€404k▼
2024 · €519k
Income taxes
€69k▲
2024 · €65k
Staff costs
€921k▲
2024 · €920k
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€577k€446k▼
Fixed assets21/28€4k-
Tangible fixed assets22/27€4k-
Furniture and vehicles24€4k-
Current assets29/58€573k€446k▼
Amounts receivable within one year40/41€235k€188k▼
Trade receivables40€221k€177k▼
Other amounts receivable41€14k€11k▼
Cash at bank and in hand54/58€338k€258k▼
Deferred charges and accrued income490/1€193€198▲
Equity and liabilities
Total equity and liabilities10/49€577k€446k▼
Equity10/15€58k€42k▼
Contributions10/11€100€100=
Reserves13€58k€42k▼
Distributable reserves133€58k€42k▼
Amounts payable17/49€519k€404k▼
Amounts payable within one year42/48€519k€404k▼
Trade debts44€43k€51k▲
Suppliers440/4€43k€51k▲
Taxes, remuneration and social security45€276k€153k▼
Taxes450/3€99k€99k▲
Remuneration and social security454/9€177k€54k▼
Other amounts payable47/48€200k€200k=
Income statement
Code20242025
Non-recurring operating income76A-€291
Remuneration, social security and pensions62€920k€921k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2k-
Other operating charges640/8€524€713▲
Non-recurring operating charges66A€239€3k▲
Gross operating margin9900€1.16M€1.18M▲
Operating profit (loss)9901€237k€254k▲
Financial income75/76B€216€153▼
Recurring financial income75€216€153▼
Financial charges65/66B€848€151▼
Recurring financial charges65€848€151▼
Profit (loss) for the period before taxes9903€237k€254k▲
Income taxes67/77€65k€69k▲
Profit (loss) for the period9904€172k€184k▲
Profit (loss) for the period to be appropriated9905€172k€184k▲
Appropriation of the result
Profit (loss) to be appropriated9906€173k€184k▲
Profit (loss) brought forward from the previous period14P€855-
Transfer from equity791/2€27k€16k▼
Profit to be distributed694/7€200k€200k=
Return on contributions (dividend)694€200k€200k=
Social balance
Average headcount (FTE)908715.816.5▲
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
10-08
State Gazette act
Resignations & appointmentsGeneral meeting · Board meeting · Director reappointment11 facts ▸
State Gazette act
Resignations & appointments
General meeting · Board meeting · Director reappointment11 facts ▸
- General meeting, 28/07/2026
- Board meeting, 29/07/2026
- Director reappointment, Michael Gillen (bestuurder)
- Director reappointment, Seamus Gillen (bestuurder)
- Power of attorney, Hannelore Matthys
- Power of attorney, Seppe Jansegers
- Power of attorney, Lara Hajir
- Director resignation, Aram Arsenyan (dagelijks bestuurder)
- Power of attorney, Hannelore Matthys
- Power of attorney, Seppe Jansegers
- Power of attorney, Lara Hajir
22-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
22-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
05-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Highest result since 2020net €374k ▲64%
Operating result €503k, net result €374k, both a record.
04-05
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
15-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Back to profitnet €202k
Net result €202k after one loss-making year.
31-12
Financial
Equity above €100kEq €133k
Equity rises from €-69k to €133k.
14-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
3 directors, no change since 2025
Michael Gillen
CurrentDirector · since 13-06-2025
Seamus Gillen
CurrentDirector · since 13-06-2025
31-12-2025
Aram Arsenyan: Resigned as Dagelijks bestuurder
13-06-2025
Michael Gillen: Mandate renewed as Director
13-06-2025
Seamus Gillen: Mandate renewed as Director
Location & real-estate footprint
Registered office, Brussel · 3 establishment units since 2020
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.
Koloniënstraat 111000 BrusselGround area
7,366 m²
Building footprint
5,561 m²
Volume, LiDAR
108,769 m³
4 parcels, Brussels, Flanders · tallest building 35.3 m, ±9 floors. Linked by address, not a title deed.
3 establishment units
MSG Care
since 20202.298.983.736
OC Park
since 20202.332.938.882
Welzijnscampus
since 20222.332.939.080
4 parcels
Flanders
3
(75%)
Brussels
1
(25%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21804D1424/00E002 | Brussels | 3,406 m² | 1 · 3,354 m² | 35.3 m · 9 fl. |
| 71328D0249/00D000 | Flanders | 1,673 m² | 1 · 1,365 m² | 17.2 m · 4 fl. |
| 71037C2288/00A000 | Flanders | 1,295 m² | 1 · 141 m² | 8.3 m · 2 fl. |
| 71323C0796/00A002 | Flanders | 992 m² | 1 · 702 m² | 12.0 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 3
4 of 4 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2023 · 2 entries · 522 EUR awarded · 522 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 0 EUR | 522 EUR |
| 2022 | 1 | 522 EUR | 0 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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IMAGIN'AMO
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AGORA JEUNES
BE 0477.580.290
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LE NID
BE 0416.520.770
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Le Déclic
BE 0453.729.277
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HOBO
BE 0447.445.261
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Of 408 companies in sector 88994 we hold annual accounts for 152. 99 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded14-01-2020
Fiscal year end31-12
Activities, NACEBEL
87992Residential care activities
88994Social work activities without accommodation
80010Investigation and private security services
80100Investigation and security activities
82990Other business support services
85593Socio-cultural adult education
86904Human health activities
86909Human health activities
86931Psychology services
86995Nutrition and dietetics services
Sources
Crossroads Bank for EnterprisesNational Bank · 6 filingsAddress and cadastre registers
Data from official sources, last processed on 17-09-2026. Scores and ratios are computed by Checked and are not a credit decision.