MSG CARE
InactiveFrom the official registers: KBO 6 annual accounts at the National Bank publications in the Belgian Official Gazette
Overview
Official details
KBO- Status
- Inactive Normal situation
- Legal form
- Private limited company
- Activity
- No activity registered in the KBO
- Financial year end
- 31 December
- Peppol
- Reachable since 12-01-2026
Board and ownership
Shareholders
- BRIDGESTOCK CAREconsolidatesannual accounts 2020
Financial position
Inactive: no score
Annual accounts 2025
- Gross margin
- €1.2m
- ▲ 1.6%
- Turnover
- ≈ €2.0m
- estimated
- Profit
- €184,435
- ▲ 7.4%
- Equity
- €42,091
- ▼ 27.0%
- Total assets
- €446,450
- ▼ 22.6%
- Staff
- 16.5 FTE
- ▲ 4.4%
Filed on 22-07-2026at the National Bank
SignalsneutralLatest accounts filed on timeShow the evidence
Signals
1 signal.
neutral
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 days early
2024
9 days early
2023
26 days early
2022
88 days early
2021
46 days early
2020
47 days early
← before the deadline
after the deadline →
tick = median of all Belgian filings
The company filed its last 6 accounts on average 38 days before the deadline. The Belgian median for financial year 2024 was 4 days before the deadline, and 38% of all filings were late.
Searched, nothing found (1)
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 for 2025 is 7% higher than in 2024. It is a recovery after the fall in 2024.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Operating result€253,695
2025
Net result€184,435
2025
Assets, equity and debt per financial year.
Total assets€446,450
2025
Equity€42,091
2025
Debt€404,359
2025
Above zero, the company can pay its short-term debts with what it holds in the short term.
Working capital€42,091
2025
Average staff per financial year, 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 are 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% |
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 (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.
Directors
Directors
Last change in 2026
Mandate history
4 people, 0 in office
- Board
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| Michael Gillen |
|
| Seamus Gillen |
|
| Aram Arsenyan |
|
| Yoerik Van Leynseele |
|
Owners and capital
Shareholders
1 ownerChain of control
- BRIDGESTOCK CAREIE
- MSG CARE
Owners 1
- BRIDGESTOCK CAREIEconsolidating parentconsolidates
Other provisions of the articles of association
- Other provisionsThese rules from the articles cover subjects other than the board, the shares, the purpose and the meetings.
- “Bevoegdheden bestuurders”
Articles of association, deed of 10-08-2026 (in Dutch)
Group and network
Connections & network
See the function holders in the KBO register.
History
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
16-10
Gazette deed
Resignations & appointments · End & cessationResignations: Michael GILLEN (director) and Seamus GILLEN (director) · Approval · Dissolution11 points ▸
Gazette deed
Resignations & appointments · End & cessation
Resignations: Michael GILLEN (director) and Seamus GILLEN (director) · Approval · Dissolution11 points ▸
- General meeting, 30-09-2026
- Approval, “goedkeuring van de verkorte jaarrekening”, 30-09-2026 (deed in Dutch)
- Dissolution, “artikel 2:80 WVV” (deed in Dutch)
- Liquidation distribution, “fiscale en sociale administraties, enige aandeelhouder” (deed in Dutch)
- Liquidation closure
- Director resignation, Michael GILLEN (director)
- Director resignation, Seamus GILLEN (director)
- Custody of records, “C/O Bridgestock Care Limited, RBK House, Castel Street, Roscommon F42 NR79, Ierland, wettelijke termijn” (deed in Dutch)
- Declaration, “consignatie van gelden” (deed in Dutch)
- Power of attorney, Michael GILLEN
- Other provision, “bestuurder, elke bestuurder afzonderlijk” (deed in Dutch)
10-08
Gazette deed
Reappointments: Michael Gillen (director) and Seamus Gillen (director)Resignation: Aram Arsenyan (day-to-day manager) · Declaration9 points ▸
Gazette deed
Reappointments: Michael Gillen (director) and Seamus Gillen (director)
Resignation: Aram Arsenyan (day-to-day manager) · Declaration9 points ▸
- General meeting, 28-07-2026
- Director reappointment, Michael Gillen (director)
- Director reappointment, Seamus Gillen (director)
- Other provision, “enige aandeelhouder, alle beslissingen in naam en voor rekening van de vennootschap in uitoefening respectieve bevoegdheden” (deed in Dutch)
- Declaration, “geen bestuursverbod, geen veroordeling tot soortgelijk verbod” (deed in Dutch)
- Board composition, Michael Gillen (director)
- Board composition, Seamus Gillen (director)
- Board meeting, 29-07-2026
- Director resignation, Aram Arsenyan (day-to-day manager)
22-07
financial year 2025 · abbreviated format
2025
22-07
financial year 2024 · abbreviated format
2024
05-07
financial year 2023 · abbreviated format
2023
31-12
Financial
Highest result from 2020 to 2025net €374,343 ▲64%
The operating result of €502,545 and the net result of €374,343 are both a record.
04-05
financial year 2022 · abbreviated format
2022
13-10
Gazette deed
Registered office · Amendment of the articlesRegistered-office move · Power of attorney4 points ▸
Gazette deed
Registered office · Amendment of the articles
Registered-office move · Power of attorney4 points ▸
- General meeting, 06-10-2022
- Registered-office move, Koloniënstraat 11,1000 Brussel
- Power of attorney
- Power of attorney, Yorik DESMYTTERE
30-06
Gazette deed
Resignation: Yoerik Van Leynseele (day-to-day manager)Appointment: Aram Arsenyan (day-to-day manager)3 points ▸
Gazette deed
Resignation: Yoerik Van Leynseele (day-to-day manager)
Appointment: Aram Arsenyan (day-to-day manager)3 points ▸
- Board meeting, 07-06-2022
- Director resignation, Yoerik Van Leynseele (day-to-day manager)
- Director appointment, Aram Arsenyan (day-to-day manager)
15-06
financial year 2021 · abbreviated format
2021
31-12
Financial
Back to profitnet €202,320
The net result is €202,320, after one loss-making year.
31-12
Financial
Equity above €100,000equity €133,329
Equity rises from -€68,991 to €133,329.
14-06
financial year 2020 · abbreviated format
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
Inactive
Inactive since October 2026
MSG CARE has not been in the KBO register since 15 October 2026.
- Status
- Inactiveout of the register since 15 October 2026
- Last annual accounts
- financial year to 31 December 2025
- Last registered office
- Kolonienstraat 11, 1000 Brusselas published on 16 October 2026
- Legal form
- Private limited company
- Active since
- 14 January 2020
Sites & property
Location
Buildings and parcels at the address
Ground area
3,406 m²
Building footprint
3,354 m²
Building volume
88,937 m³
Parcel 21804D1424/00E002, Brussels · tallest building 35.3 m.
1 parcel
Brussels
1
(100%)
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21804D1424/00E002 | Brussels | 3,406 m² | 1 · 3,354 m² | 35.3 m · 9 |