MSG Management
ActiveSummary
MSG Management has been active since 2022 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €143,511 and a net result of €78,461. Equity is growing by about 55% per year across the filed financial years. Its solvency ranks better than 62% of 9,636 sector peers (NACE 82, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
- Equity
- €143,511
- Profit
- €78,461
Why 95raises riskFounded in 2022lowers riskSector: Office administrative, office support and other business support activities (NACE 82)Liquidity: current ratio 2.98, cash €32,575Equity €143,511 (64.2% of total assets)Show the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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 82, micro): better than 64% on solvency, 59% on liquidity, 87% on profitability and 27% on growth.
The bankruptcy probability was computed on 29-10-2026 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.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 4 accounts on average 97 days before the deadline; the sector median (NACE 82) for financial year 2024 is 7 days before the deadline, and 35% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Annual accounts filedfinancial year 2024 · micro…
- Equity above €150,000equity €160,051 ▲93.1%
Financials · financial year 2025, micro format
2022 to 2025, 4 financial years
The operating result has risen three years in a row; 2025 is 4% above 2024 and is the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 82, Office administrative, office support and other business support activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Peer companies
Historical observationOf the 39,278 companies that looked in July 2024 the way this one looks now, 1.8% went bankrupt within 24 months and 95.9% are still going.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
For this company itself Checked computes a lower bankruptcy probability: 0.1% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 39,278 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €53 | €1,422 | €3,175 | €3,191 | ▲ 0.5% |
| Other operating charges640/8 | €348 | €831 | €992 | €1,071 | ▲ 7.9% |
| Non-recurring operating charges66A | - | - | - | €1,512 | - |
| Gross operating margin9900 | -€2,605 | €113,023 | €117,120 | €122,881 | ▲ 4.9% |
| Operating profit (loss)9901 | -€3,006 | €110,770 | €112,953 | €117,106 | ▲ 3.7% |
| Financial income75/76B | - | €33 | €1,431 | €23 | ▼ 98.4% |
| Recurring financial income75 | - | €33 | €1,431 | €23 | ▼ 98.4% |
| Financial charges65/66B | €19 | €5,632 | €9,728 | €10,091 | ▲ 3.7% |
| Recurring financial charges65 | €19 | €5,632 | €9,728 | €10,091 | ▲ 3.7% |
| Profit (loss) for the period before taxes9903 | -€3,025 | €105,171 | €104,656 | €107,038 | ▲ 2.3% |
| Income taxes67/77 | - | €22,280 | €27,471 | €28,577 | ▲ 4.0% |
| Profit (loss) for the period9904 | -€3,025 | €82,891 | €77,185 | €78,461 | ▲ 1.7% |
| Profit (loss) for the period to be appropriated9905 | -€3,025 | €82,891 | €77,185 | €78,461 | ▲ 1.7% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €3,310 | €112,022 | €265,285 | €223,710 | ▼ 15.7% |
| Fixed assets21/28 | €1,569 | €16,240 | €119,066 | €116,199 | ▼ 2.4% |
| Tangible fixed assets22/27 | €1,569 | €16,240 | €14,664 | €11,798 | ▼ 19.5% |
| Plant, machinery and equipment23 | €1,569 | €3,802 | €3,839 | €2,585 | ▼ 32.7% |
| Other tangible fixed assets26 | - | €12,438 | €10,825 | €9,212 | ▼ 14.9% |
| Financial fixed assets28 | - | - | €104,402 | €104,402 | = |
| Current assets29/58 | €1,741 | €95,782 | €146,218 | €107,511 | ▼ 26.5% |
| Amounts receivable within one year40/41 | €93 | €24,603 | €79,084 | €21,328 | ▼ 73.0% |
| Trade receivables40 | - | €20,449 | €41,380 | €21,328 | ▼ 48.5% |
| Other amounts receivable41 | €93 | €4,154 | €37,704 | €0 | ▼ 100% |
| Current investments50/53 | - | - | €18,000 | €42,000 | ▲ 133% |
| Cash at bank and in hand54/58 | €1,648 | €60,891 | €34,197 | €32,575 | ▼ 4.7% |
| Deferred charges and accrued income490/1 | - | €10,289 | €14,938 | €11,608 | ▼ 22.3% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €3,310 | €112,022 | €265,285 | €223,710 | ▼ 15.7% |
| Equity10/15 | -€25 | €82,866 | €160,051 | €143,511 | ▼ 10.3% |
| Contributions10/11 | €3,000 | €3,000 | €3,000 | €3,000 | = |
| Profit (loss) carried forward14 | -€3,025 | €79,866 | €157,051 | €140,511 | ▼ 10.5% |
| Amounts payable17/49 | €3,335 | €29,156 | €105,234 | €80,199 | ▼ 23.8% |
| Amounts payable after more than one year17 | - | - | €58,479 | €43,245 | ▼ 26.1% |
| Financial debts170/4 | - | - | €58,479 | €43,245 | ▼ 26.1% |
| Amounts payable within one year42/48 | €3,324 | €29,140 | €46,755 | €36,125 | ▼ 22.7% |
| Current portion of amounts payable after more than one year42 | - | - | €14,725 | €15,234 | ▲ 3.5% |
| Trade debts44 | €750 | €2,999 | €5,695 | €2,218 | ▼ 61.1% |
| Suppliers440/4 | €750 | €2,999 | €5,695 | €2,218 | ▼ 61.1% |
| Taxes, remuneration and social security45 | - | €26,141 | €26,335 | €8,093 | ▼ 69.3% |
| Taxes450/3 | - | €26,141 | €26,335 | €8,093 | ▼ 69.3% |
| Other amounts payable47/48 | €2,574 | €0 | - | €10,580 | - |
| Accrued charges and deferred income492/3 | €11 | €16 | €0 | €829 | - |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€3,025 | €82,891 | €77,185 | €78,461 | ▲ 1.7% |
| + Depreciation and write-downs630 | €53 | €1,422 | €3,175 | €3,191 | ▲ 0.5% |
| Operating cash flow (approximation) | -€2,972 | €84,313 | €80,360 | €81,652 | ▲ 1.6% |
| Investment in fixed assets (approximation) | - | -€16,092 | -€106,002 | -€325 | ▲ 99.7% |
| Change in cash | - | €59,243 | -€26,694 | -€1,621 | ▲ 93.9% |
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 (4)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 26-02-2026 | 2026-00043896 |
| 31-12-2024 | micro format | 31-03-2025 | 2025-00058188 |
| 31-12-2023 | micro format | 06-06-2024 | 2024-00111805 |
| 31-12-2022 | micro format | 07-06-2023 | 2023-00110947 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Mandate history
- Board
| Name | Functions and periods |
|---|---|
| CLAES,Sophia |
|
| DREESEN,Michaël |
|
Owners and capital
Capital and shareholders
- DREESEN,Michaël 100 shares (100%) · €3,000
The Belgian Official Gazette names shareholders only when an act mentions them; the share register itself is not published.
- 13-10-2022 Incorporation · €3,000 · 100 shares
Group and network
Connections & network
2 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
13-10
Gazette deed
IncorporationAppointments: DREESEN,Michaël (director) and CLAES,Sophia (director) · Founder · Founding capital7 facts ▸
- Incorporation, “MSG Management” (deed in Dutch)
- Founder, DREESEN,Michaël
- Founding capital, €3,000
- Director appointment, DREESEN,Michaël (director (not named in the articles))
- Director appointment, CLAES,Sophia (director (not named in the articles))
- Pre-incorporation commitments, “takeover, alle verbintenissen,verplichtingen en activiteiten in naam en voor rekening van vennootschap in oprichting” (deed in Dutch)
- Other provision, “ondernemingsnummer”, 22365149 (deed in Dutch)
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 13373K0756/00L008 | Flanders | 818 m² | 1 · 153 m² | 0.5 m |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “Consultancy,operations-,project-,en interim-management; De uitoefening van bestuurders-of vereffeningsmandaten in andere vennootschappen…” (deed in Dutch)
9 activities (deed in Dutch)
- Consultancy,operations-,project-,en interim-management;
- De uitoefening van bestuurders-of vereffeningsmandaten in andere vennootschappen;
- Advies inzake human resources,personeelszaken;
- Het geven van opleidingen en instructies in diverse doelgebieden;
- Het nemen van belangen of participaties in andere vennootschappen.Zij mag deelnemen door associatie,inbreng,fusie,inschrijving of op gelijk welke andere manier,in alle bestaande of op te richten vennootschappen,groeperingen,syndicaten of verenigingen met een identiek,gelijklopend of samenhangend voorwerp of die van die aard kunnen zijn de ontwikkeling van haar ondernemingen te begunstigen of een bron van afzetten te vormen;
- Borgstelling voor derden,voor zover de vennootschap er direct of indirect belang bij heeft;
- Het verlenen van adviezen van financiële,technische,commerciële of administratieve aard in de meest ruime zin,het verlenen van bijstand en diensten,rechtstreeks of onrechtstreeks op het vlak van administratie en financiën,verkoop,productie en algemeen bestuur.
- Het beheer,de instandhouding,de exploitatie,de verhuur,het kopen en verkopen van alle soorten onroerende goederen.Zij mag haar onroerende goederen in hypotheek stellen en al haar andere goederen,met inbegrip van het handelsfonds,in pand stellen met het oog op het aangaan van schulden,kredietopeningen of leningen en alle andere verbintenissen bij derden,met inbegrip van haar aandeelhouders en zaakvoerders en kan alle kosten en investeringen maken die zij nodig of wenselijk acht in het belang van de uitbouw van de beroepsactiviteiten;
- In het algemeen mag de vennootschap in het kader van haar werkzaamheden alle financiële,commerciële,industriële,roerende en onroerende verrichtingen doen die rechtstreeks of onrechtstreeks verband houden met haar voorwerp of van die aard zijn het bereiken hiervan geheel of ten dele te vergemakkelijken of te bevorderen en dit zowel in het binnen-als het buitenland.
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- MSG Management
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaams Gewest, 2440 Geel,Spikkewaverdijk 10” (deed in Dutch)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- Each director alone
- Board ruleHow the board is made up, meets and takes decisions.
- “Natuurlijke personen of rechtspersonen,al dan niet aandeelhouder, 1” (deed in Dutch)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- First Tuesday of June at 20:00