Turnover
≈ €660,000 estimated
The micro format states no turnover.
MSG LOGISTICS
Overview
Lifetime
1 annual account with figurespeak €290,830 (2025)
€290,830
peak €78,332 (2025)
€78,332
peak €99,332 (2025)
€99,332
€132,779
Board3 names since 2024
3 directorsMassagé Yves and 2 others
Documentsfilings and deeds
23-07-20268 days before the deadline
2025micro format
Appointment: Massagé Nicolas (director) 21-10Registered office moved from Soignies to Brussels 05-03First year with figures
Key points
from the 2025 annual accountsAt the same address
226 companies
Position in the sector
€78,332
Higher net result than 95% of companies in land transport. Sector median €5,669 · 5,918 companies.
Checked score
37
Weak
Financially stronger than 63% of micro companies in land transport (NACE 49)
Probability in this band: 4.2% to 15.0%
Bankruptcy probability within 12 months
6.9% Elevated
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 1.8% across 9,097 companies (NACE 49, micro).
About 7 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2025: 6.7%lowest value
01-2026: 6.7%● unchanged vs 12-2025lowest value
02-2026: 6.9%▲ +0.2 percentage points vs 01-2026
03-2026: 7.1%▲ +0.2 percentage points vs 02-2026
04-2026: 7.3%▲ +0.2 percentage points vs 03-2026
05-2026: 7.8%▲ +0.5 percentage points vs 04-2026
06-2026: 7.8%● unchanged vs 05-2026
07-2026: 8.1%▲ +0.3 percentage points vs 06-2026highest value
08-2026: 6.7%▼ -1.4 percentage points vs 07-2026
09-2026: 6.7%● unchanged vs 08-2026
10-2026: 6.9%▲ +0.2 percentage points vs 09-2026
11-2026: 6.9%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
raises risk
Founded in 2024
Liquidity: current ratio 1.55
Sector: Land transport and transport via pipelines (NACE 49)
1 change of registered office in 24 months
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 49, micro). It does better than 55% of them on solvency, 39% on liquidity and 94% on profitability.
The bankruptcy probability was computed on 10-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the elevated class on 30-06-2025, 6.3% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 11,279 companies had the same profile as MSG LOGISTICS has now. Each dot stands for 29 companies, two years later.
96.6%
were still trading
2.6%
stopped another way
0.7%
went bankrupt
The bankruptcy probability of MSG LOGISTICS itself is higher: 6.9% within 12 months. It rests on far more data about MSG LOGISTICS than the profile alone.
Test of the method
The method was tested on the 497,448 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 11,279 companies, not a prediction for MSG LOGISTICS. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €3,500 on 30-day terms, only on tighter conditions: elevated estimated bankruptcy probability calls for adjusted credit terms
Liquidity is ample, with a current ratio of 1.55, above the usual 1.5. Short-term debt is 57.2% of total assets. However, 57.2% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
raises riskneutral
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 23-07-2026, 8 days ahead of the deadline.
NBB · 1 filingDeviation from the deadline
2025
8 days early
← before the deadline
after the deadline →
Searched, nothing found (1)
Board and ownership
- MASSAGÉ Yves Jean Elisabeth 60 sharesdeed of 21-11-2024
- SYASS Malika 40 sharesdeed of 21-11-2024
Recent changes
2 directors appointed, 1 resignation
Resignation: Massagé Nicolas · Appointments: Massagé Yves and Syass Malika · General meeting of 13-01-2026 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:1016377777
Appointment: Massagé Nicolas (director)
Gazette deed
Registered office moved from Soignies to Brussels
New registered office: Rue des anciens étangs, 40 1190 Bruxelles BELGIUM · Previous registered office: Chemin de la Longue Borne, 8 7060 Soignies BELGIUM · General meeting of 12-02-2025 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| MSG LOGISTICS Forest | €232,111 | €290,830 | 42.8% | - |
| SWALTY FOOD Ternat | €220,002 | €270,116 | 32.0% | - |
| SFK-CONSULT Sint-Niklaas | €214,392 | €277,575 | 44.6% | 7.3 |
| BLAZ TRANSPORT Dilbeek | €221,378 | €250,998 | 3.6% | - |
| PRIMELOG Zaventem | €218,267 | €230,210 | 2.9% | - |
| FODE SERVICES Halle | €256,620 | €350,858 | 36.4% | - |
| Michaël Kwanten Transport Zonhoven | €193,728 | €322,673 | 5.8% | - |
These companies have the same main activity as MSG LOGISTICS: freight transport by road (NACE 49410). They are comparable in size and age: total assets between €194,000 and €257,000, founded between 2024 and 2025.
Official details
Source: KBO- Status
- Active since 19-11-2024Normal situation
- Registered office
- 227 active companies are registered at this address22 started in the 12 months before. Source: KBO register, as of 10 November 2026.
- Activity
- Freight transport by roadNACE 49410
- Establishment unit
- 2.370.514.4077060 Soignies, since 19-11-2024
- Financial year end
- 31 December
- Peppol
- Reachable since 30-12-2025
Annual accounts 2025
- €290,830
- €78,332
- €99,332
- €232,111
- Employeeson 31-12-2025
- 3
- Filing
- Filed on 23-07-2026, 8 days before the end of the filing period
Insights on MSG LOGISTICS
The computed 12-month bankruptcy probability of MSG LOGISTICS is 6.9% (elevated). The 2025 annual accounts show equity of €99,332 and a net result of €78,332.
Its solvency ranks better than 55% of 5,946 sector peers (NACE 49, financial year 2025). The company has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Financials
Annual accounts 2025
micro format, filed on 23-07-2026, 8 days before the deadline€290,830
€97,508
€78,332
€72,464
42.8%
1.55
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €660,000. Estimated: probably between €560,000 and €820,000.
Balance sheet
balance sheet total €232,111 on 31-12-2025What the company ownsHow it is paid for
Position in the sector
42.8%
Higher than 55% of 5,946 companies in 2025.
1.55
Higher than 58% of 5,700 companies in 2025.
33.7%
Higher than 91% of 5,763 companies in 2025.
MSG LOGISTICS
Middle half of the sector
80% of the sector
Micro accounts in land transport (NACE 49)
Net result: top quarter · Equity: middle half · Balance sheet total: middle half · Working capital: top quarter
Staff
€50,198
Staff costs divided by the average number of full-time equivalents.
+3 people
people who joined
people who left
In 2025, 5 people joined and 2 left.
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 |
|---|---|---|
| Balance sheet: assets | ||
20/58 |
232,111 | |
21/28 |
26,868 | |
22/27 |
2,868 | |
23 |
2,868 | |
28 |
24,000 | |
29/58 |
205,243 | |
40/41 |
163,963 | |
40 |
139,663 | |
41 |
24,300 | |
50/53 |
40,620 | |
490/1 |
660 | |
| Balance sheet: equity and liabilities | ||
10/49 |
232,111 | |
10/15 |
99,332 | |
10/11 |
21,000 | |
14 |
78,332 | |
17/49 |
132,779 | |
42/48 |
132,779 | |
44 |
86,025 | |
440/4 |
86,025 | |
45 |
46,754 | |
450/3 |
27,793 | |
454/9 |
18,961 | |
| Income statement | ||
9900 |
290,830 | |
62 |
130,514 | |
630 |
22 | |
640/8 |
62,786 | |
9901 |
97,508 | |
75/76B |
659 | |
75 |
659 | |
65/66B |
252 | |
65 |
252 | |
9903 |
97,915 | |
67/77 |
19,583 | |
9904 |
78,332 | |
9905 |
78,332 | |
| Appropriation of the result | ||
9906 |
78,332 | |
| Social balance sheet | ||
9087 |
2.6 | |
Hours worked1013 |
3,179 | |
| Document | ||
The notes to these accounts have 7 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 23-07-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 23-07-2026 | 2026-00324877 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 |
|---|---|---|
| 97,530 | ||
| 78,354 | ||
| 26,890 | ||
| 72,464 | ||
| 42.8% | ||
| 1.55 | ||
| 1.34 | ||
| 78.9% | ||
| 33.7% | ||
| over 100 |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Social balance sheet
| Item | 31-12-2025 |
|---|---|
| Employees at the balance-sheet date | 3 |
| full-time | 3 |
| in full-time equivalents | 3 |
| 2.6 | |
| On a permanent contract | 3 |
| Joined | 5 |
| Left | 2 |
Source: social balance sheet in the 2025 annual accounts
Investments
fixed assets acquired| Item | 2025 |
|---|---|
| Tangible fixed assets | €2,890 |
| Financial fixed assets | €24,000 |
| €22 |
Source: notes to the 2025 annual accounts (statement of fixed assets)
Insights on MSG LOGISTICS
Debt's share of the balance-sheet total is 57.2%.
Board & ownership
Board
2 directors, no change since February 2026Director
appointed by deed of 21-11-2024
listed in the 2025 annual accounts, filed on 23-07-2026
Director
appointed by deed of 21-11-2024
listed in the 2025 annual accounts, filed on 23-07-2026
- Signing authorityThe articles say who may bind the company, for example by signing a contract.
- Each director alonedeed of 21-11-2024
Mandates through the years
3 names, the dashed line is todayMassagé Yves
Director (not named in the articles)
Director (not named in the articles)
Syass Malika
Director (not named in the articles)
Director (not named in the articles)
Massagé Nicolas
Director
Director
BoardEarlier
Mandates as a list
- Massagé Yves
- Director (not named in the articles), appointed by deed of 21-11-2024, still in office
- Syass Malika
- Director (not named in the articles), appointed by deed of 21-11-2024, still in office
- Massagé Nicolas
- Director, appointed by deed of 21-10-2025, until 25-02-2026
Control
Founders
MASSAGÉ Yves Jean Elisabeth, SYASS Malika
This company
MSG LOGISTICS
Equity €99,332
Profit €78,332 in 2025
Capital
- Contribution
- €21,000
- Shares
- 100
- Contribution per share
- €210
- Equity per share
- €993 in 2025
- Source
- deed of 21-11-2024
Articles of association
deed of 21-11-2024 (in French)- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimited
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “Rémunération des administrateurs, fixe ou proportionnelle”
- Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
- “Moitié cédant moitié acquéreurs proportionnellement aux actions acquises, mêmes formalités si non actionnaires de plein droit”
Shareholders
At incorporation
deed of 21-11-2024 ↗
- MASSAGÉ Yves Jean Elisabeth 60 shares (60%) · €12,600
- SYASS Malika 40 shares (40%) · €8,400
Network & group
No group
MSG LOGISTICS has no parent and no holdings in its annual accounts. MSG LOGISTICS shares no director with another company.
At the same address
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2.3 FTE (2025) 0563.522.983 |
Timeline
Timeline
7 events since 2024Board
Filings
Establishments
Address
202420252026
2026
Annual accounts 2025 filed PDFmicro format · 8 days before the deadline
2 directors appointed, 1 resignationResignation: Massagé Nicolas · Appointments: Massagé Yves and Syass Malika · General meeting of 13-01-20264 points ▸
- General meeting, 13-01-2026
- Director resignation, Massagé Nicolas
- Director appointment, Massagé Yves
- Director appointment, Syass Malika
2025
Registered in the Peppol Directory Reachable for e-invoices through 0208:1016377777
Appointment: Massagé Nicolas (director)1 point ▸
- Director appointment, Massagé Nicolas
- The deed holds 1 more point.
Registered office moved from Soignies to BrusselsNew registered office: Rue des anciens étangs, 40 1190 Bruxelles BELGIUM · Previous registered office: Chemin de la Longue Borne, 8 7060 Soignies BELGIUM · General meeting of 12-02-20252 points ▸
- General meeting, 12-02-2025
- Registered-office move, Rue des anciens étangs, 40 1190 Bruxelles BELGIUM
2024
IncorporationFounding capital of €21,000, 100 shares · Founders: MASSAGÉ Yves Jean Elisabeth and SYASS Malika · Appointments: MASSAGÉ Yves Jean Elisabeth (director) and SYASS Malika (director) · published on 21-11-20249 points ▸
- Founder, MASSAGÉ Yves Jean Elisabeth
- Founder, SYASS Malika
- Founding capital, €21,000, 100 shares
- 100 shares
- Registered office clause, Chemin de la Longue Borne 8, 7060 Soignies
- Board rule, 2
- Director appointment, MASSAGÉ Yves Jean Elisabeth (director (not named in the articles))
- Director appointment, SYASS Malika (director (not named in the articles))
- Permanent representative, MASSAGÉ Yves Jean Elisabeth (représentant permanent chargé exécution mandat)
- The deed holds 6 more points.
First establishment Chemin de la Longue Borne 8, Soignies
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Identity
- Enterprise number
- 1016.377.777
- VAT number
- BE 1016.377.777
- Peppol ID
- 0208:1016377777
- Legal form
- Private limited company
- Status
- Active, normal situation
- Founded
- 19-11-2024
- Financial year
- ends on 31 December
- Peppol
- Reachable since 30-12-2025Follow this company and you will hear the next morning if it leaves the Peppol register.
- Name
- MSG LOGISTICS in French
- Entity type
- Legal entity
- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimiteddeed of 21-11-2024 (in French)
Activities
NACEBEL 202549410
Freight transport by road main activity
- PurposeThe purpose describes the activities the company may carry out under its articles.
- “Tout ce qui se rapporte au transport national et international,terrestre,ferroviaire,maritime et aérien de tous biens et marchandises…”deed of 21-11-2024 (in French)
21 activities
- Tout ce qui se rapporte au transport national et international,terrestre,ferroviaire,maritime et aérien de tous biens et marchandises l'expédition,le marketing,la commercialisation et la distribution,l'organisation et la gestion d'entreprises de transport,l'entreposage,l'affrètement,la messagerie,l'agence en douane,les assurances et en général tout ce qui se rapporte au fret
- Toutes opérations généralement quelconques se rattachant directement ou indirectement au transport de toute nature,savoir entre autres
- Le transport routier - transports de troncs,transport lourd international,transport de bétail,transport par camion frigorifique,transport de marchandises en vrac,transport par camion-citerne,transport de voitures
- La gestion des stocks,le service de distribution,le conditionnement et l'acheminement de toute marchandise pour compte de clients
- Le déménagement de mobilier de personnes privées,de bureaux,d'ateliers ou d'usines
- La livraison de mobilier et d'appareils ménagers
- La location de camions avec ou sans chauffeur,de chariots élévateurs,élévateurs et autres
- Transport et livraison à domicile de tous produits généralement quelconques,périssables et non périssables,l'enlèvement,le stockage,la répartition de tous produits généralement quelconques et non périssables
- La manutention de marchandises (comprenant entre autres le chargement,le déchargement,le pesage,l'étiquetage,la surveillance le déballage et l'emballage de marchandises)
- La gestion d’entrepôts logistiques de marchandise
- L'exploitation de tous moyens de transport,de choses ou de personnes avec ou sans chauffeur,le déménagement,l'aménagement de choses,répandage par voie directe ou par voie de courtage,de mandat de commissionnaire ou de location,ainsi que le gardiennage ou l'entreposage de choses,pour son compte ou pour le compte d'autrui,l'achat,la vente,la location,la gestion,la fabrication,la réparation,la transformation,de ces moyens de transport et de déménagement,de gardiennage,et d'entreposage
- Louer ou sous louer,acquérir des droits réels ou la pleine propriété de tout immeuble dans le but soit d’y établir son siège social,un siège d’exploitation ou d’y loger son dirigeant et les membres de sa famille à titre de résidence principale ou secondaire
- La gestion et la valorisation d’un patrimoine immobilier,avec ou sans lien direct avec ses autres activités,en pleine propriété ou en droits réels,notamment par l’achat,la vente,la location,la mise en location,la construction,le tout au sens le plus large
- Hypothéquer et affecter en garantie tous biens meubles ou immeubles pour son compte propre ou pour le compte de tiers
- Réaliser toute opération d’engagements à titre de caution,aval ou garanties quelconques pour le compte de ses dirigeants
- Toutes opérations commerciales,industrielles,financières,mobilières et immobilières se rapportant directement ou indirectement à son objet social ou qui seraient de nature à en faciliter directement ou indirectement la réalisation
- Réaliser son objet pour son compte ou pour le compte d'autrui,de toutes les manières et suivant les modalités qui lui paraîtront les mieux appropriées
- S’intéresser par toutes voies,dans toutes affaires,entreprises ou sociétés ayant un objet identique,analogue ou connexe ou qui sont de nature à favoriser le développement de son entreprise,à lui procurer des matières premières ou à faciliter l’écoulement de ses produits
- S'intéresser,par voie d'apport,de fusion,de souscription,de participation,d'intervention financière ou autrement,dans toutes sociétés ou entreprises ayant,en tout ou en partie,un objet identique,analogue ou connexe au sien,susceptible notamment d'en favoriser le développement,de lui procurer des matières premières,de faciliter l’écoulement de ses produits
- Se porter caution et donner toute sûreté personnelle ou réelle en faveur de toute personne ou société liée ou non
- Être administrateur,gérant ou liquidateur dans d’autres sociétés
Registered office and establishments
1 establishment| Establishment | Since | Unit number |
|---|---|---|
| Oude Vijversstraat 40 registered office 1190 Forest | ||
| Chemin de la Longue Borne 8 7060 Soignies | 19-11-2024 | 2.370.514.407 |
1 former office
- Chemin de la Longue Borne,8, 7060 Soignies until the deed of 05-03-2025
Buildings and parcels at the addresses
- Ground area
- 4,804 m²
- Buildings
- 1,222 m²
- Volume, LiDAR
- 9,111 m³
- Tallest building
- 8.8 m
Buildings to scale, each on its own parcel
Parcels
Wallonia
1
(50%)
Brussels
1
(50%)
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 55040A0717/00R000 | Wallonia | 2,909 m² | 1 · 540 m² | 8.8 m · 3 |
| 21382C0028/00G003 | Brussels | 1,894 m² | 1 · 682 m² | 8.8 m · 3 |