Active BE 0766.970.288Private limited company

MSIC

Carnotstraat 23 ·2060 Antwerpen, Belgium· 5 yrs active

Sector: Non-specialised food retail (47110)

Conclusion Checked

The computed 12-month bankruptcy probability of MSIC is 2.0% (moderate). The 2024 annual accounts show equity of €46k and a net result of €10k. Equity is growing by ~10.4% per year across the filed fiscal years. Its solvency ranks better than 57% of 6637 sector peers (fiscal year 2024). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 4 annual accounts.

Key figures

Equity	€46k
Net result	€10k
Staff (FTE)	1
Better than sector	57%

Snowflake analysis 5 axes · computed by Checked

64 / 100

Strong profile, led by stability.

Health 67

Profitability 49

Solvency 43

Growth 68

Stability 94

Bankruptcy probability (12 mo) Checked model v1 · free

2.0% Moderate

0%0,5%1,5%4%10%≥25%

Young company +Higher-failure-rate sector +

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 3 signals

More than 3 years active

Founded in 2021, past the statistically most fragile first 3 years.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad.

Administratively compliant

No FOD Economie strikeouts (UBO, accounts, address, activity).

Administrative Flags 0 events

No administrative flags

Health barometer FY 2024 · computed

67 / 100 Healthy

050100

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Computed by Checked from NBB filings and Belgian State Gazette signals. Indicative, not credit advice.

Financial overview4 NBB filings

Annual accounts filed on 29-08-2025 with the NBB · fiscal year 2024 · micro

RevenueOperating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

growing Equity: growth of ~10.4%/year over 4 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2024 · NACE 47, Retail trade · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	27.3%	20.3%	better than 57% of 6637 sector peers
Net result	€10k	€4k	better than 62% of 6618 sector peers
Equity	€46k	€16k	better than 70% of 6651 sector peers
Gross operating margin	€53k	€24k	better than 67% of 6597 sector peers
Staff costs	€17k	€33k	higher than 34% of 3005 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

Revenue

€871k

+26.4% far above sector median

EBITDA

€29k

- -8% vs sector

Net profit

€10k

-36.8% -28% vs sector

Cash flow

€10k

- -59% vs sector

Total assets

€169k

+49.3% +47% vs sector

Equity

€46k

-12.6% +13% vs sector

Working capital

€7k

-76.8% -34% vs sector

Employees (FTE)

1

0.0% -44% vs sector

Staff costs

€17k

+4.0% -72% vs sector

Income taxes

€10k

+396.3% +133% vs sector

Debt

€123k

+103.5% +112% vs sector

Debt ≤ 1y

€123k

+103.5% far above sector median

Current ratio

1.06

-29.1% -47% vs sector

Quick ratio

0.55

+250.7% -73% vs sector

Solvency

27.3%

-41.5% -40% vs sector

Debt / equity

2.66

+132.9% +118% vs sector

ROE

21.3%

-27.7% -40% vs sector

ROA

5.8%

-57.7% -64% vs sector

Net margin

1.1%

-50.0% -98% vs sector

EBITDA margin

3.3%

- 21-24

Interest coverage

3.32

- -74% vs sector

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2024
Revenue	€871k
EBITDA	€29k
Net profit	€10k
Cash flow	€10k
Staff costs	€17k
Income taxes	€10k
Dividends	-
Total assets	€169k
Equity	€46k
Debt	€123k
of which ≤ 1y	€123k
of which > 1y	-
Working capital	€7k
Employees (FTE)	1.0

Ratios (computed)

	2024
Current ratio	1.06
Quick ratio	0.55
Working capital ratio	4.1%
Solvency	27.3%
Debt / equity	2.66
Long-term debt ratio	-
Interest coverage	3.32
Gross margin	1.6%
Net margin	1.1%
ROA	5.8%
ROE	21.3%
EBITDA margin	3.3%
Days sales outstanding	10d
Days payable outstanding	14d
Inventory turnover	13.72
Days inventory (DSI)	27d

Balance-sheet composition 2024

Assets

Fixed assets €39k · 23.2% Current assets €130k · 76.8%

Equity & liabilities

Equity €46k · 27.3% Debt €123k · 72.7%

Full annual accounts

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2024
Balance sheet, Assets
TOTAL ASSETS	20/58	€169k
Fixed assets	21/28	€39k
Tangible fixed assets	22/27	€16k
Financial fixed assets	28	€23k
Current assets	29/58	€130k
Stocks & contracts in progress	3	€62k
Amounts receivable within one year	40/41	€56k
Cash & bank	54/58	€11k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€169k
Equity	10/15	€46k
Contributions / capital	10/11	€1k
Accumulated profits (losses)	14	€45k
Amounts payable	17/49	€123k
Amounts payable within one year	42/48	€123k
Trade debts payable within one year	44	€32k
Income statement
Turnover	70	€871k
Gross operating margin	9900	€53k
Operating result	9901	€28k
Financial charges	65	€9k
Result before taxes	9903	€19k
Income taxes	67/77	€10k
Net result for the period	9904	€10k
Result to be appropriated	9905	€10k

You're seeing the latest fiscal year only. Unlock 3 prior years (figures + ratios) with a paid plan. See plans →

Ratios computed by Checked.

Legal Structure

NACE primary	Non-specialised food retail(47110)
Legal form	Private limited company(610)
Incorporation	21-04-2021
Status	Active
Postal code	2060

Establishment units 1 location

MSIC 2

Carnotstraat 23, 2060 AntwerpenDetailhandel in niet-gespecialiseerde winkels waarbij voedings- en genotmiddelen overheersen (verkoopsoppervlakte < 100 m²)

since 20212.319.961.371

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Real-estate footprint Source: CBE × cadastre

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
11808H0555/00C000	Flanders	298 m²	1 · 298 m²	27.2 m · 8 fl.

Methodology

via registered seat: 1

1 of 1 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Updates 6 events

A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.

2025

02-09-2025

State Gazette act Director changes

29-08-2025

NBB filing Annual accounts filed

fiscal year 2024 · micro

2024

17-09-2024

NBB filing Annual accounts filed

fiscal year 2023 · micro

29-05-2024

State Gazette act Director changes

2023

24-08-2023

NBB filing Annual accounts filed

fiscal year 2022 · micro

2022

02-06-2022

NBB filing Annual accounts filed

fiscal year 2021 · micro

Belgisch Staatsblad, acts 2 acts

All acts · 2 updated 10 months ago

2025

02-09-2025 1 director appointed, 1 resigning Director changes

SINGH Manjit, Bestuurder
Malek Jamshid, Bestuurder

Original publication ↗

Technical details

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2024

29-05-2024 1 director appointed, 1 resigning Director changes

MALEK Jamshid, Bestuurder
Singh Sukhvindar, Bestuurder

Original publication ↗

Technical details

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  },
  "act_meta": {
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Company registry (CBE) Crossroads Bank

Activities

Niet-gespecialiseerde detailhandel waarbij voedings- en genotmiddelen overheersen47110Detailhandel in niet-gespecialiseerde winkels waarbij voedings- en genotmiddelen overheersen (verkoopsoppervlakte < 100 m²)47112Detailhandel in dranken in gespecialiseerde winkels, algemeen assortiment47252Detailhandel in dranken, algemeen assortiment47252Detailhandel in tabaksproducten in gespecialiseerde winkels47260Detailhandel in tabaksproducten47260Detailhandel in kranten en kantoorbehoeften in gespecialiseerde winkels47620Detailhandel in kranten en andere tijdschriften47621

Primary activity highlighted.

Names & trade names

Legal nameNL

MSIC

Registered office

Carnotstraat 23

2060 Antwerpen, Belgium

Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.

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