MSI Construct
ActiveSummary
MSI Construct has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €6k and a net result of €6k. Equity is growing by ~68.3% per year across the filed fiscal years. Its solvency ranks better than 18% of 9982 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2024
57
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability82▲+8
Solvency35▲+11
Growth78=
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Liquidity tight (current ratio 1.08 against 0.94 in 2023; short-term debt: 90.2% and cash: 31.4% of total assets), and 90.2% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Sector 41
higher
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
9.8%
Return on assets
10.5%
Age of the figures
21 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 18% of 9982 sector peers (2024).
NBB · sector comparisonPosition among 9982 sector peers
Solvency
better than 18%
← weakest
strongest →
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-11-2025, 122 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
122 d late
2023
487 d late
2022
270 d late
2021
139 d late
2020
61 d late
2019
108 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€6k
2023 · €-407
2018: €-20k
2019: €-12k
2020: €-12k
2021: €-5k
2022: €-3k
2023: €-407
2018 → 2024
Total assets
€59k▲ 11.7%
2023 · €53k
2018: €40k
2019: €68k
2020: €44k
2021: €42k
2022: €55k
2023: €53k
2018 → 2024
Net result
€6k▲ 172%
2023 · €2k
2018: €-4k
2019: €8k
2020: €164
2021: €7k
2022: €3k
2023: €2k
2018 → 2024
Working capital
€4k
2023 · €-3k
2018: €-22k
2019: €-14k
2020: €-18k
2021: €-20k
2022: €-7k
2023: €-3k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€-12k-€-5k▲ 55.5%€-3k▲ 50.6%€-407▲ 84.8%€6k
Operating result€1k-€7k▲ 383%€4k▼ 36.9%€14k▲ 217%€10k▼ 23.5%
Net result€164-€7k▲ 4,029%€3k▼ 59.4%€2k▼ 17.3%€6k▲ 172%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 24% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €59k
Fixed assets
€2k ▼ 43.5%
Current assets
€57k ▲ 14.8%
Equity and liabilities €59k
Equity
€6k
Debt
€53k
Debt finances 90.2% of the balance-sheet total.
Key figures and ratios
EBITDA
€12k▼
2023 · €15k
Cash flow
€7k▲
2023 · €4k
Current ratio
1.08▲
2023 · 0.94
Debt to equity
9.23
ROE
107.0%
ROA
10.5%▲
2023 · 4.3%
Interest coverage
65.51▲
2023 · 55.39
Debt ≤ 1 year
€53k=
2023 · €53k
Income taxes
€4k▼
2023 · €11k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 40 lines
Balance sheet
Code20232024
Assets
Total assets20/58€53k€59k▲
Fixed assets21/28€3k€2k▼
Tangible fixed assets22/27€2k€1k▼
Plant, machinery and equipment23€279€238▼
Furniture and vehicles24€275€151▼
Other tangible fixed assets26€2k€714▼
Financial fixed assets28€500€500=
Current assets29/58€50k€57k▲
Amounts receivable within one year40/41€40k€39k▼
Trade receivables40€40k€39k▼
Other amounts receivable41€380€338▼
Cash at bank and in hand54/58€10k€19k▲
Equity and liabilities
Total equity and liabilities10/49€53k€59k▲
Equity10/15€-407€6k▲
Contributions10/11€1k€1k=
Reserves13-€5k
Distributable reserves133-€5k
Profit (loss) carried forward14€-1k-
Amounts payable17/49€53k€53k=
Amounts payable within one year42/48€53k€53k=
Taxes, remuneration and social security45€13k€13k▲
Taxes450/3€7k€9k▲
Remuneration and social security454/9€6k€4k▼
Other amounts payable47/48€40k€40k=
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1k€1k▼
Other operating charges640/8€189€471▲
Gross operating margin9900€15k€12k▼
Operating profit (loss)9901€14k€10k▼
Financial income75/76B€17-
Recurring financial income75€17-
Financial charges65/66B€270€177▼
Recurring financial charges65€270€177▼
Profit (loss) for the period before taxes9903€13k€10k▼
Income taxes67/77€11k€4k▼
Profit (loss) for the period9904€2k€6k▲
Profit (loss) for the period to be appropriated9905€2k€6k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-1k€5k▲
Profit (loss) brought forward from the previous period14P€-4k€-1k▲
Transfer to equity691/2-€5k
To other reserves6921-€5k
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
30-11
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 122 days late
30-11
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 487 days late
2024
26-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 270 days late
2022
17-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 139 days late
2021
30-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 61 days late
2020
16-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 108 days late
2019
31-12
Financial
Back to profitnet €8k
Net result €8k after one loss-making year.
16-12
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 138 days late
16-12
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 503 days late
2018
14-03
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 226 days late
2016
12-12
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 134 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Mouscron · 1 establishment unit since 2012
Ground area
926 m²
Building footprint
138 m²
Volume, LiDAR
537 m³
Parcel 54004K1132/00_000, Wallonia · tallest building 4.9 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Sint Jan-Baptiststraat(H) 65, 7712 Mouscron
since 20122.208.516.685
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 54004K1132/00_000 | Wallonia | 926 m² | 1 · 138 m² | 4.9 m · 1 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
LKNA GROUP
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Vida Build BV
BE 0760.925.903
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Algemene Karweiwerken SVDB
BE 0751.827.501
Keerbergen · Eq €5,760
Of 29,779 companies in sector 41001 we hold annual accounts for 16,044. 7,025 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded16-01-2012
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
68121Development of residential building projects
43310Plastering work
43410Roofing work
43422Screed work
Sources
Crossroads Bank for EnterprisesNational Bank · 12 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.