MSI29
InactiveMSI29 was declared bankrupt on 18-12-2023 (Tribunal de l’entreprise du Hainaut, division Mons); the bankruptcy was closed for insufficient assets by judgment of 24-02-2025, published in the Belgian State Gazette on 24-03-2025.
Summary
Inactive; last annual accounts for fiscal year 2022.
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-12-2023, 3 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 2 filingsPosition against the passed deadline
31-12-2023 close31-07-2024 deadline26-09-2026 today
neutral · Filed after the deadline
The financial year that closed on 31-12-2022 was due by 31-07-2023 and was filed on 28-09-2023, 59 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 2 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
59 d late
2021
29 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 2 accounts on average 44 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
History
Financials · fiscal year 2022, full schema
Turnover
€518,835▼ 39.2%
2021 · €853,701
EBIT margin
-7.3%▼ 8.8pp
2021 · 1.5%
Net result
-€40,084
2021 · €9,628
Working capital
-€50,927▼ 260%
2021 · -€14,137
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022
Turnover€853,701-€518,835▼ 39.2%
Operating result€13,138--€37,898
Net result€9,628--€40,084
EBIT margin1.5%--7.3%▼ 8.8pp
Equity€11,878--€28,206
Total assets€68,406-€41,948▼ 38.7%
Debt€56,528-€70,154▲ 24.1%
Working capital-€14,137--€50,927▼ 260%
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2022: a loss of €37,898 after €13,138 in 2021.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €41,948
Fixed assets
€22,721 ▼ 12.7%
Current assets
€19,227 ▼ 54.6%
Key figures and ratios
EBITDA
-€33,475▼
2021 · €14,279
Cash flow
-€35,661▼
2021 · €10,769
Solvency
-67.2%▼
2021 · 17.4%
Current ratio
0.27▼
2021 · 0.75
Debt to equity
-2.49▼
2021 · 4.76
ROA
-95.6%▼
2021 · 14.1%
Interest coverage
-44.81▼
2021 · 92.72
Debt ≤ 1 year
€70,154▲
2021 · €56,528
Income taxes
€1,441▼
2021 · €3,358
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | Change |
|---|---|---|---|
| Turnover70 | €853,701 | €518,835 | ▼ 39.2% |
| Goods, raw materials, services and sundry goods60/61 | €838,364 | €550,400 | ▼ 34.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,141 | €4,423 | ▲ 288% |
| Other operating charges640/8 | €1,058 | €1,911 | ▲ 80.6% |
| Gross operating margin9900 | €15,337 | -€31,564 | ▼ 306% |
| Operating profit (loss)9901 | €13,138 | -€37,898 | ▼ 388% |
| Financial income75/76B | €2 | €2 | = |
| Recurring financial income75 | €2 | €2 | = |
| Financial charges65/66B | €154 | €747 | ▲ 385% |
| Recurring financial charges65 | €154 | €747 | ▲ 385% |
| Profit (loss) for the period before taxes9903 | €12,986 | -€38,643 | ▼ 398% |
| Income taxes67/77 | €3,358 | €1,441 | ▼ 57.1% |
| Profit (loss) for the period9904 | €9,628 | -€40,084 | ▼ 516% |
| Profit (loss) for the period to be appropriated9905 | €9,628 | -€40,084 | ▼ 516% |
| Line | 2021 | 2022 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €68,406 | €41,948 | ▼ 38.7% |
| Fixed assets21/28 | €26,015 | €22,721 | ▼ 12.7% |
| Tangible fixed assets22/27 | €19,015 | €14,881 | ▼ 21.7% |
| Plant, machinery and equipment23 | €19,015 | €14,881 | ▼ 21.7% |
| Financial fixed assets28 | €7,000 | €7,840 | ▲ 12.0% |
| Current assets29/58 | €42,391 | €19,227 | ▼ 54.6% |
| Stocks and contracts in progress3 | €11,993 | - | - |
| Stocks30/36 | €11,993 | - | - |
| Amounts receivable within one year40/41 | €10,396 | €10,865 | ▲ 4.5% |
| Trade receivables40 | €5,159 | €5,005 | ▼ 3.0% |
| Other amounts receivable41 | €5,237 | €5,860 | ▲ 11.9% |
| Cash at bank and in hand54/58 | €20,002 | €8,362 | ▼ 58.2% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €68,406 | €41,948 | ▼ 38.7% |
| Equity10/15 | €11,878 | -€28,206 | ▼ 337% |
| Contributions10/11 | €2,250 | €2,250 | = |
| Profit (loss) carried forward14 | €9,628 | -€30,456 | ▼ 416% |
| Amounts payable17/49 | €56,528 | €70,154 | ▲ 24.1% |
| Amounts payable within one year42/48 | €56,528 | €70,154 | ▲ 24.1% |
| Trade debts44 | €52,220 | €60,800 | ▲ 16.4% |
| Suppliers440/4 | €52,220 | €60,800 | ▲ 16.4% |
| Taxes, remuneration and social security45 | €3,358 | €9,354 | ▲ 179% |
| Taxes450/3 | €3,358 | €9,354 | ▲ 179% |
| Other amounts payable47/48 | €950 | - | - |
| Line | 2021 | 2022 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | €9,628 | -€40,084 | ▼ 516% |
| + Depreciation and write-downs630 | €1,141 | €4,423 | ▲ 288% |
| Operating cash flow (approximation) | €10,769 | -€35,661 | ▼ 431% |
| Investment in fixed assets (approximation) | - | -€1,129 | - |
| Change in cash | - | -€11,640 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2025
24-03
Bankruptcy
Bankruptcy closure (insufficient assets)
Tribunal de l’entreprise du Hainaut, division Mons · event 24-02-2025
2024
15-01
Bankruptcy
Opening
Tribunal de l’entreprise du Hainaut, division Mons · event 18-12-2023
2023
28-09
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 59 days late
2022
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 29 days late
SignalNBB filing
0 of 4 acts read
About the unread acts
We know of 4 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
4 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
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | JOHN DEHAENE RUE NEUVE, 16, 7000 MONS-
.
Date provisoire de cessation de paiement : 18/12/2023
5295
BELGISCH STAATSBLAD — 15.01.2024 — MONITEUR BELGE |
18-12-2023 → 24-02-2025 |