MSG CARE
InactiveFrom the official registers: KBO 6 annual accounts at the National Bank publications in the Belgian Official Gazette
Financials · financial year 2025, abbreviated format
Latest annual accounts filed
Annual accounts 2025
- Financial year ended
- 31-12-2025
- Filed on
- 22-07-2026
- Format
- abbreviated format
- Reference
- 2026-00318634
Turnover
≈ €2.0m
Estimated: probably between €1.4m and €3.3m
Total assets
€446,450▼ 22.6%
2024 · €576,648
Net result
€184,435▲ 7.4%
2024 · €171,701
Working capital
€42,091▼ 22.0%
2024 · €53,958
Trend over the years
2021 to 2025, 5 financial years 2020 to 2025, 6 financial years
The operating result recovers in 2025; 2025 is 7% above 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€253,695
2025
Net result€184,435
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€446,450
2025
Equity€42,091
2025
Debt€404,359
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€42,091
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)16.5
2025
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line202020212022202320242025
Operating result-€68,511-€250,099€311,511▲ 24.6%€502,545▲ 61.3%€237,246▼ 52.8%€253,695▲ 6.9%
Net result-€69,091-€202,320€228,282▲ 12.8%€374,343▲ 64.0%€171,701▼ 54.1%€184,435▲ 7.4%
Equity-€68,991-€133,329€61,612▼ 53.8%€85,955▲ 39.5%€57,656▼ 32.9%€42,091▼ 27.0%
Total assets€338,684-€406,370▲ 20.0%€769,543▲ 89.4%€740,901▼ 3.7%€576,648▼ 22.2%€446,450▼ 22.6%
Debt€407,675-€273,041▼ 33.0%€707,931▲ 159%€654,946▼ 7.5%€518,992▼ 20.8%€404,359▼ 22.1%
Working capital-€70,727-€133,607€59,063▼ 55.8%€82,100▲ 39.0%€53,958▼ 34.3%€42,091▼ 22.0%
Staff (FTE)4.1-13.9▲ 239%14▲ 0.7%17.2▲ 22.9%15.8▼ 8.1%16.5▲ 4.4%
Turnover and EBIT margin not published: the abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €446,450
Equity
€42,091 ▼ 27.0%
Debt
€404,359 ▼ 22.1%
Debt's share of the balance-sheet total rises from 90.0% to 90.6%. Equity and debt are lower.
Key figures and ratios
Current ratio
1.10=
2024 · 1.10
Debt to equity
9.61▲
2024 · 9.00
ROE
438.2%▲
2024 · 297.8%
ROA
41.3%▲
2024 · 29.8%
Debt ≤ 1 year
€404,359▼
2024 · €518,992
Income taxes
€69,261▲
2024 · €64,913
Staff costs
€921,200▲
2024 · €919,945
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | €291 | - |
| Remuneration, social security and pensions62 | - | €0.7m | €0.9m | €0.9m | €0.9m | €0.9m | ▲ 0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €211 | €0.001m | €268 | €0.001m | €0.002m | - | - |
| Other operating charges640/8 | - | €0.001m | €266 | €0.001m | €0.001m | €0.001m | ▲ 36.1% |
| Non-recurring operating charges66A | - | - | €0.001m | - | €239 | €0.003m | ▲ 12× |
| Gross operating margin9900 | €0.08m | €0.9m | €1.2m | €1.4m | €1.2m | €1.2m | ▲ 1.6% |
| Operating profit (loss)9901 | -€0.07m | €0.3m | €0.3m | €0.5m | €0.2m | €0.3m | ▲ 6.9% |
| Financial income75/76B | - | €234 | €37 | €0.004m | €216 | €153 | ▼ 29.4% |
| Recurring financial income75 | €0 | €234 | €37 | €0.004m | €216 | €153 | ▼ 29.4% |
| Financial charges65/66B | - | €0.001m | €432 | €31 | €0.001m | €151 | ▼ 82.2% |
| Recurring financial charges65 | €0.001m | €0.001m | €432 | €31 | €0.001m | €151 | ▼ 82.2% |
| Profit (loss) for the period before taxes9903 | -€0.07m | €0.2m | €0.3m | €0.5m | €0.2m | €0.3m | ▲ 7.2% |
| Income taxes67/77 | - | €0.05m | €0.08m | €0.1m | €0.06m | €0.07m | ▲ 6.7% |
| Profit (loss) for the period9904 | -€0.07m | €0.2m | €0.2m | €0.4m | €0.2m | €0.2m | ▲ 7.4% |
| Profit (loss) for the period to be appropriated9905 | -€0.07m | €0.2m | €0.2m | €0.4m | €0.2m | €0.2m | ▲ 7.4% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €338,684 | €406,370 | €769,543 | €740,901 | €576,648 | €446,450 | ▼ 22.6% |
| Fixed assets21/28 | €2,329 | €1,482 | €2,549 | €3,855 | €3,698 | - | - |
| Tangible fixed assets22/27 | €2,329 | €1,482 | €2,549 | €3,855 | €3,698 | - | - |
| Furniture and vehicles24 | - | €1,482 | €2,549 | €3,855 | €3,698 | - | - |
| Current assets29/58 | €336,355 | €404,888 | €766,994 | €737,046 | €572,950 | €446,450 | ▼ 22.1% |
| Amounts receivable within one year40/41 | €116,874 | €117,865 | €181,009 | €149,355 | €235,171 | €187,951 | ▼ 20.1% |
| Trade receivables40 | - | €117,865 | €178,842 | €147,189 | €220,766 | €177,212 | ▼ 19.7% |
| Other amounts receivable41 | - | - | €2,166 | €2,166 | €14,406 | €10,739 | ▼ 25.5% |
| Cash at bank and in hand54/58 | €219,481 | €286,377 | €584,768 | €585,872 | €337,585 | €258,302 | ▼ 23.5% |
| Deferred charges and accrued income490/1 | - | €646 | €1,218 | €1,819 | €193 | €198 | ▲ 2.3% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €338,684 | €406,370 | €769,543 | €740,901 | €576,648 | €446,450 | ▼ 22.6% |
| Equity10/15 | -€68,991 | €133,329 | €61,612 | €85,955 | €57,656 | €42,091 | ▼ 27.0% |
| Contributions10/11 | - | €100 | €100 | €100 | €100 | €100 | = |
| Reserves13 | - | €133,000 | €61,512 | €85,000 | €57,556 | €41,991 | ▼ 27.0% |
| Distributable reserves133 | - | €133,000 | €61,512 | €85,000 | €57,556 | €41,991 | ▼ 27.0% |
| Profit (loss) carried forward14 | -€69,091 | €229 | - | €855 | - | - | - |
| Amounts payable17/49 | €407,675 | €273,041 | €707,931 | €654,946 | €518,992 | €404,359 | ▼ 22.1% |
| Amounts payable within one year42/48 | €407,082 | €271,281 | €707,931 | €654,946 | €518,992 | €404,359 | ▼ 22.1% |
| Trade debts44 | €52,586 | €21,544 | €43,265 | €45,437 | €43,198 | €50,886 | ▲ 17.8% |
| Suppliers440/4 | - | €21,544 | €43,265 | €45,437 | €43,198 | €50,886 | ▲ 17.8% |
| Taxes, remuneration and social security45 | - | €214,737 | €364,666 | €259,509 | €275,794 | €153,473 | ▼ 44.4% |
| Taxes450/3 | - | €131,139 | €151,483 | €119,447 | €98,676 | €99,043 | ▲ 0.4% |
| Remuneration and social security454/9 | - | €83,598 | €213,183 | €140,062 | €177,118 | €54,430 | ▼ 69.3% |
| Other amounts payable47/48 | - | €35,000 | €300,000 | €350,000 | €200,000 | €200,000 | = |
| Accrued charges and deferred income492/3 | - | €1,760 | - | - | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€69,091 | €202,320 | €228,282 | €374,343 | €171,701 | €184,435 | ▲ 7.4% |
| + Depreciation and write-downs630 | €211 | €847 | €268 | €1,493 | €1,769 | - | - |
| Operating cash flow (approximation) | -€68,880 | €203,167 | €228,550 | €375,836 | €173,470 | €184,435 | ▲ 6.3% |
| Investment in fixed assets (approximation) | - | €0 | -€1,334 | -€2,799 | -€1,612 | - | - |
| Change in cash | - | €66,896 | €298,390 | €1,104 | -€248,286 | -€79,284 | ▲ 68.1% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 22-07-2026 | 2026-00318634 | NBB |
| 31-12-2024 | abbreviated format | 22-07-2025 | 2025-00295471 | |
| 31-12-2023 | abbreviated format | 05-07-2024 | 2024-00214096 | |
| 31-12-2022 | abbreviated format | 04-05-2023 | 2023-00081718 | |
| 31-12-2021 | abbreviated format | 15-06-2022 | 2022-20064082 | |
| 31-12-2020 | abbreviated format | 14-06-2021 | 2021-19600362 |
Subsidies and aid
Flemish government
2022 to 2023 · 2 entries · €522 awarded · €522 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2023 | 1 | €0 | €522 |
| 2022 | 1 | €522 | €0 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.