MSG OFFICE
ActiveFrom the official registers: KBO 16 annual accounts at the National Bank publications in the Belgian Official Gazette
Summary
MSG OFFICE has been active since 2010 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €262,400 and a net result of €50,461. Equity has been growing by about 19% per year since 2018. Its solvency ranks better than 80% of 1,825 sector peers (NACE 77, financial year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Overview
Overview
Official details
KBO- Status
- Active since 07-05-2010 Normal situation
- Activity
- Renting and leasing of other personal and household goods NACE 77229and 3 others
- Establishment unit
- 2.188.317.921 1435 Mont-Saint-Guibert, since 07-05-2010
- Financial year end
- 31 December
- Peppol
- Reachable since 19-12-2025
Board and ownership
- Galea JuanDirector · since 07-05-2010
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.2%
- Gross margin
- €183,201
- ▲ 19.8%
- Turnover
- ≈ €460,000
- estimated
- Profit
- €50,461
- ▲ 86.5%
- Equity
- €262,400
- ▲ 23.8%
- Total assets
- €384,159
- ▼ 9.1%
- Staff
- 1 FTE
- =
Score breakdownraises riskLiquidity: current ratio 0.18, cash €6,060lowers riskFounded in 2010Size: total assets €384,159Figures for financial year 2025 (filed on 15-06-2026)Show the evidence
Checked score
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 77, micro). It does better than 78% of them on solvency, 43% on liquidity, 80% on profitability and 76% on growth.
The bankruptcy probability was computed on 31-10-2026 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. 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).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 19 days before the deadline. In the sector (NACE 77), the median for financial year 2024 was 3 days before the deadline, and 39% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 15-06-2026 at the NBB all 16 filings
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result for 2025 is 66% higher than in 2024 and the highest since 2021. 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.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Average staff per financial year, in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Rental and leasing activities (NACE 77). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).
Comparable companies
These companies have the same main activity as MSG OFFICE: renting and leasing of other personal and household goods (NACE 77229). They are comparable in size and age: total assets between €309,000 and €501,000, founded between 2005 and 2009.
| Company | Founded | Total assets | Equity | Gross margin | Net result | FTE | Financial year |
|---|---|---|---|---|---|---|---|
| MSG OFFICE Mont-Saint-Guibert | 2010 | €384,159 | €262,400 | €183,201 | €50,461 | - | 2025 |
| SURFCITY Beringen | 2009 | €309,317 | €172,365 | €159,692 | €14,028 | - | 2025 |
| De Molse Geldadviseurs Mol | 2009 | €495,264 | €277,432 | €241,968 | €36,261 | - | 2025 |
| CLAIR-OBSCUR PRODUCTIONS Schaarbeek | 2008 | €501,129 | €78,806 | €259,156 | €16,941 | - | 2024 |
| HUBEAU Oudenaarde | 2006 | €484,329 | €221,740 | €207,578 | €72,037 | - | 2025 |
| LA VIDEOTHEQUE DE CHATELET Châtelet | 2005 | €458,639 | €226,817 | €166,417 | €30,813 | - | 2024 |
| Nobel Security Malle | 2007 | €370,674 | €119,218 | €317,855 | €35,519 | 3.1 | 2025 |
They were chosen from the 334 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Companies with the same profile, two years later
Historical observationIn July 2024, 34,693 companies had the same profile as MSG OFFICE has now. Two years later, 0.7% had gone bankrupt and 95.3% were still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
That fits the bankruptcy probability of MSG OFFICE itself: 0.2% within 12 months.
Test of the method
The method was tested on the 497,445 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 34,693 companies, not a prediction for MSG OFFICE. 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €46,548 | €48,088 | €55,192 | €58,088 | €55,282 | ▼ 4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €47,058 | €41,579 | €39,089 | €30,415 | €34,492 | €33,986 | €39,928 | €42,548 | ▲ 6.6% |
| Other operating charges640/8 | - | - | - | €7,855 | €8,040 | €8,815 | €9,344 | €10,002 | ▲ 7.0% |
| Gross operating margin9900 | €127,041 | €126,041 | €99,327 | €131,208 | €131,909 | €161,999 | €152,863 | €183,201 | ▲ 19.8% |
| Operating profit (loss)9901 | €30,349 | €32,339 | €5,388 | €46,390 | €41,289 | €64,006 | €45,503 | €75,370 | ▲ 65.6% |
| Financial income75/76B | - | - | - | €406 | - | €81 | €81 | €44 | ▼ 46.1% |
| Recurring financial income75 | €3 | - | €25 | €406 | - | €81 | €81 | €44 | ▼ 46.1% |
| Financial charges65/66B | - | - | - | €13,157 | €10,899 | €11,004 | €8,703 | €6,021 | ▼ 30.8% |
| Recurring financial charges65 | €18,370 | €16,322 | €14,672 | €13,157 | €10,899 | €11,004 | €8,703 | €6,021 | ▼ 30.8% |
| Profit (loss) for the period before taxes9903 | €11,982 | €16,017 | -€9,260 | €33,639 | €30,391 | €53,083 | €36,880 | €69,393 | ▲ 88.2% |
| Transfer from deferred taxes780 | - | - | - | - | €136 | €155 | €155 | €155 | = |
| Transfer to deferred taxes680 | - | - | - | €1,550 | - | - | - | - | - |
| Income taxes67/77 | - | - | - | €1,645 | €6,020 | €13,809 | €9,975 | €19,087 | ▲ 91.3% |
| Profit (loss) for the period9904 | €11,982 | €16,017 | -€9,260 | €30,444 | €24,507 | €39,430 | €27,060 | €50,461 | ▲ 86.5% |
| Transfer from tax-exempt reserves789 | - | - | - | - | €409 | €465 | €465 | €465 | = |
| Transfer to tax-exempt reserves689 | - | - | - | €4,650 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €11,982 | €16,017 | -€9,260 | €25,794 | €24,916 | €39,895 | €27,525 | €50,926 | ▲ 85.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €538,150 | €496,015 | €459,154 | €443,042 | €442,594 | €442,570 | €422,450 | €384,159 | ▼ 9.1% |
| Fixed assets21/28 | €523,258 | €484,022 | €446,178 | €425,494 | €424,322 | €417,786 | €409,775 | €367,226 | ▼ 10.4% |
| Tangible fixed assets22/27 | €523,258 | €484,022 | €446,178 | €425,494 | €424,322 | €417,786 | €409,775 | €367,226 | ▼ 10.4% |
| Land and buildings22 | - | - | - | €415,065 | €419,417 | €393,936 | €368,138 | €336,470 | ▼ 8.6% |
| Furniture and vehicles24 | - | - | - | €10,429 | €4,905 | €23,850 | €41,637 | €30,756 | ▼ 26.1% |
| Current assets29/58 | €14,892 | €11,993 | €12,975 | €17,548 | €18,272 | €24,784 | €12,676 | €16,932 | ▲ 33.6% |
| Amounts receivable within one year40/41 | €2,452 | €5,749 | €8,467 | €4,992 | €9,666 | €4,554 | €3,103 | €6,308 | ▲ 103% |
| Trade receivables40 | - | - | - | €4,992 | €8,686 | €3,573 | €1,079 | €4,279 | ▲ 297% |
| Other amounts receivable41 | - | - | - | - | €980 | €980 | €2,025 | €2,029 | ▲ 0.2% |
| Cash at bank and in hand54/58 | €5,671 | €4,699 | €4,140 | €11,024 | €7,592 | €18,361 | €7,430 | €6,060 | ▼ 18.4% |
| Deferred charges and accrued income490/1 | - | - | - | €1,532 | €1,014 | €1,870 | €2,143 | €4,565 | ▲ 113% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €538,150 | €496,015 | €459,154 | €443,042 | €442,594 | €442,570 | €422,450 | €384,159 | ▼ 9.1% |
| Equity10/15 | €83,741 | €99,758 | €90,498 | €120,942 | €145,449 | €184,879 | €211,939 | €262,400 | ▲ 23.8% |
| Contributions10/11 | €110,000 | €110,000 | - | €110,000 | €110,000 | €110,000 | €110,000 | €110,000 | = |
| Reserves13 | - | - | - | €10,650 | €35,241 | €74,776 | €101,811 | €152,346 | ▲ 49.6% |
| Tax-exempt reserves132 | - | - | - | €4,650 | €4,241 | €3,776 | €3,311 | €2,846 | ▼ 14.0% |
| Distributable reserves133 | - | - | - | €6,000 | €31,000 | €71,000 | €98,500 | €149,500 | ▲ 51.8% |
| Profit (loss) carried forward14 | -€26,259 | -€10,242 | -€19,502 | €292 | €208 | €103 | €128 | €54 | ▼ 57.7% |
| Provisions and deferred taxes16 | - | - | - | €1,550 | €1,414 | €1,259 | €1,104 | €949 | ▼ 14.0% |
| Deferred taxes168 | - | - | - | €1,550 | €1,414 | €1,259 | €1,104 | €949 | ▼ 14.0% |
| Amounts payable17/49 | €454,409 | €396,257 | €368,655 | €320,550 | €295,731 | €256,433 | €209,407 | €120,810 | ▼ 42.3% |
| Amounts payable after more than one year17 | €377,588 | €319,301 | €290,115 | €232,078 | €190,355 | €134,307 | €80,939 | €25,324 | ▼ 68.7% |
| Financial debts170/4 | - | - | - | €232,078 | €190,355 | €134,307 | €72,099 | €18,595 | ▼ 74.2% |
| Other amounts payable178/9 | - | - | - | - | - | - | €8,841 | €6,729 | ▼ 23.9% |
| Amounts payable within one year42/48 | €76,820 | €76,956 | €77,978 | €88,265 | €104,231 | €122,126 | €128,468 | €95,486 | ▼ 25.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €61,969 | €72,923 | €78,760 | €89,884 | €53,504 | ▼ 40.5% |
| Financial debts43 | - | - | - | - | €7,000 | €7,000 | €10,681 | €6,102 | ▼ 42.9% |
| Other loans439 | - | - | - | - | €7,000 | €7,000 | €10,681 | €6,102 | ▼ 42.9% |
| Trade debts44 | €3,897 | €7,301 | €3,976 | €8,035 | €4,542 | €11,845 | €8,175 | €5,660 | ▼ 30.8% |
| Suppliers440/4 | - | - | - | €8,035 | €4,542 | €11,845 | €8,175 | €5,660 | ▼ 30.8% |
| Advances received on contracts in progress46 | - | - | - | - | - | - | €5,000 | - | - |
| Taxes, remuneration and social security45 | - | - | - | €12,261 | €12,767 | €24,521 | €12,679 | €27,709 | ▲ 119% |
| Taxes450/3 | - | - | - | €4,492 | €5,510 | €16,398 | €3,572 | €18,745 | ▲ 425% |
| Remuneration and social security454/9 | - | - | - | €7,769 | €7,257 | €8,123 | €9,106 | €8,965 | ▼ 1.6% |
| Other amounts payable47/48 | - | - | - | €6,000 | €7,000 | - | €2,049 | €2,512 | ▲ 22.5% |
| Accrued charges and deferred income492/3 | - | - | - | €207 | €1,145 | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11,982 | €16,017 | -€9,260 | €30,444 | €24,507 | €39,430 | €27,060 | €50,461 | ▲ 86.5% |
| + Depreciation and write-downs630 | €47,058 | €41,579 | €39,089 | €30,415 | €34,492 | €33,986 | €39,928 | €42,548 | ▲ 6.6% |
| Operating cash flow (approximation) | €59,040 | €57,596 | €29,830 | €60,859 | €58,999 | €73,416 | €66,988 | €93,009 | ▲ 38.8% |
| Investment in fixed assets (approximation) | - | -€2,343 | -€1,246 | -€9,730 | -€33,320 | -€27,450 | -€31,916 | €0 | - |
| Change in cash | - | -€972 | -€559 | €6,884 | -€3,432 | €10,769 | -€10,931 | -€1,370 | ▲ 87.5% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 16 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 15-06-2026 | 2026-00161309 | NBB |
| 31-12-2024 | micro format | 23-07-2025 | 2025-00305214 | |
| 31-12-2023 | micro format | 21-08-2024 | 2024-00354924 | |
| 31-12-2022 | micro format | 25-07-2023 | 2023-00265489 | |
| 31-12-2021 | micro format | 10-06-2022 | 2022-20055454 | |
| 31-12-2020 | micro format | 14-07-2021 | 2021-35100471 | |
| 31-12-2019 | micro format | 03-07-2020 | 2020-25800091 | |
| 31-12-2018 | micro format | 06-06-2019 | 2019-16400234 | |
| 31-12-2017 | micro format | 06-06-2018 | 2018-16300476 | |
| 31-12-2016 | micro format | 08-05-2017 | 2017-11500249 |
Board & ownership
Directors
Owners and capital
Shareholders
1 ownerOwners 1
-
11.1%
Network & group
Connections & network
1 current directorThe network starts from the directors of MSG OFFICE. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
28-11
Gazette deed
Registered office · MiscellaneousRegistered-office move1 point ▸
- Registered-office move, n° 8A et 8B rue du Bosquet à 1435 Mont-Saint-Guibert
Show earlier events
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
1 establishment unit
Buildings and parcels at the address
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 25020A0014/00H002 | Wallonia | 5,723 m² | 1 · 1,700 m² | 12.7 m · 2 |