MSJ Projects
Open bankruptcyA bankruptcy procedure is open for MSJ Projects according to publications in the Belgian State Gazette; curator: KRISTIAAN CALUWAERTS.
Summary
The 2023 annual accounts show equity of €33k and a net result of €18k.
Are you a creditor?
Open bankruptcy
Source: Belgian Official Gazette
If this company owes you money, you are not paid automatically: you file your claim yourself, within the deadline the judgment sets.
The procedure
- Court
- Enterprise Court of Antwerp, Antwerp division
- Declared bankrupt
- 29 April 2025
- Supervising judge
- Ann Musschoot
- Official Gazette
- 07-05-2025 (pdf) ↗search the document for 2025/118895
Curator
- Kristiaan CaluwaertsPotvlietlaan 4, 2600 01 Antwerpen/Berchemk.caluwaerts@legaloffice.be
What to do now
- Do not deliver on credit any more without an agreement with the curator.
- Gather your documents: invoices, purchase orders, contract, delivery notes and reminders.
- File your proof of claim in RegSol (regsol.be), yourself with eID or itsme, or through your lawyer. State principal, interest and costs separately, and any preferential right you hold.
- Delivered under retention of title? Reclaim your goods before the first report on the verification of claims.
- Ask your accountant about the VAT on the unpaid invoices: in a bankruptcy it can be recovered under conditions.
- Follow the file in RegSol: the verification report (admitted or disputed) and the curator's reports appear there.
Deadlines: the judgment sets the last day to file your claim, by law at most thirty days after the judgment, and the day of the first verification report. Both dates are in the publication in the Official Gazette and in RegSol; Checked does not read them yet. A late claim is sometimes still possible, but not without consequences.
File a claim in RegSol ↗
Watch
Follow this bankruptcy: you are alerted when it is closed or reversed.
General information, not legal advice. If in doubt, the curator, your lawyer or your accountant can help. Full guide for creditors
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2023 was due by 31-07-2024 and was filed on 19-03-2024, 134 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
134 d early
2022
30 d late
2021
208 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
History
Go further with this company
Who ran this company, and where was it based, on a date before the end?Company as of a date Is the registered address a letterbox or domiciliation address?Address check Are there other customers at risk in your own list?Debtor check How is the Full-service restaurants sector doing?Sector figures
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2023, micro schema
Equity
€33k▲ 120%
2022 · €15k
Total assets
€108k▲ 23.2%
2022 · €88k
Net result
€18k▲ 187%
2022 · €6k
Working capital
€27k▲ 145%
2022 · €11k
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
Line202120222023
Operating result€1k-€9k▲ 787%€19k▲ 97.0%
Net result€610-€6k▲ 916%€18k▲ 187%
Equity€9k-€15k▲ 71.9%€33k▲ 120%
Total assets€88k-€88k▼ 0.4%€108k▲ 23.2%
Debt€79k-€73k▼ 8.2%€75k▲ 3.5%
Working capital€-57k-€11k€27k▲ 145%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen two years in a row; 2023 is 97% above 2022 and is the highest result in the available series.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €108k
Fixed assets
€52k ▼ 12.9%
Current assets
€56k ▲ 102%
Equity and liabilities €108k
Equity
€33k ▲ 120%
Debt
€75k ▲ 3.5%
Debt's share of the balance-sheet total falls from 83.1% to 69.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€26k▲
2022 · €17k
Cash flow
€26k▲
2022 · €14k
Current ratio
1.96▲
2022 · 1.68
Quick ratio
1.89▲
2022 · 1.55
Debt to equity
2.32▼
2022 · 4.92
ROE
54.6%▲
2022 · 41.8%
ROA
16.5%▲
2022 · 7.1%
Interest coverage
128.34▲
2022 · 70.53
Debt ≤ 1 year
€28k▲
2022 · €16k
Debt > 1 year
€47k▼
2022 · €56k
Income taxes
€600▼
2022 · €3k
Staff costs
€548▲
2022 · €202
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €202 | €548 | ▲ 172% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9k | €8k | €8k | ▲ 1.3% |
| Other operating charges640/8 | €479 | €1k | €243 | ▼ 77.4% |
| Gross operating margin9900 | €11k | €18k | €27k | ▲ 47.7% |
| Operating profit (loss)9901 | €1k | €9k | €19k | ▲ 97.0% |
| Financial income75/76B | €7 | €1 | €0 | ▼ 100% |
| Recurring financial income75 | €7 | €1 | €0 | ▼ 100% |
| Financial charges65/66B | €61 | €242 | €205 | ▼ 15.3% |
| Recurring financial charges65 | €61 | €242 | €205 | ▼ 15.3% |
| Profit (loss) for the period before taxes9903 | €1k | €9k | €18k | ▲ 99.9% |
| Income taxes67/77 | €400 | €3k | €600 | ▼ 80.0% |
| Profit (loss) for the period9904 | €610 | €6k | €18k | ▲ 187% |
| Profit (loss) for the period to be appropriated9905 | €610 | €6k | €18k | ▲ 187% |
| Line | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €88k | €88k | €108k | ▲ 23.2% |
| Fixed assets21/28 | €65k | €60k | €52k | ▼ 12.9% |
| Intangible fixed assets21 | €64k | €57k | €50k | ▼ 12.5% |
| Tangible fixed assets22/27 | €1k | €3k | €3k | ▼ 19.6% |
| Furniture and vehicles24 | €1k | €3k | €3k | ▼ 19.6% |
| Current assets29/58 | €23k | €28k | €56k | ▲ 102% |
| Stocks and contracts in progress3 | €2k | €2k | €2k | = |
| Stocks30/36 | €2k | €2k | €2k | = |
| Amounts receivable within one year40/41 | €19k | €25k | €52k | ▲ 104% |
| Other amounts receivable41 | €19k | €25k | €52k | ▲ 104% |
| Cash at bank and in hand54/58 | €2k | €62 | €2k | ▲ 2,742% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €88k | €88k | €108k | ▲ 23.2% |
| Equity10/15 | €9k | €15k | €33k | ▲ 120% |
| Contributions10/11 | €8k | €8k | €8k | = |
| Profit (loss) carried forward14 | €610 | €7k | €25k | ▲ 261% |
| Amounts payable17/49 | €79k | €73k | €75k | ▲ 3.5% |
| Amounts payable after more than one year17 | - | €56k | €47k | ▼ 16.6% |
| Financial debts170/4 | - | €56k | €47k | ▼ 16.6% |
| Amounts payable within one year42/48 | €79k | €16k | €28k | ▲ 72.8% |
| Current portion of amounts payable after more than one year42 | €62k | €3k | €10k | ▲ 180% |
| Trade debts44 | €3k | €0 | €2k | - |
| Suppliers440/4 | €3k | €0 | €2k | - |
| Taxes, remuneration and social security45 | €59 | €13k | €17k | ▲ 28.4% |
| Taxes450/3 | €59 | €9k | €17k | ▲ 82.3% |
| Remuneration and social security454/9 | - | €4k | €0 | ▼ 100% |
| Other amounts payable47/48 | €14k | €0 | - | - |
| Line | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €610 | €6k | €18k | ▲ 187% |
| + Depreciation and write-downs630 | €9k | €8k | €8k | ▲ 1.3% |
| Operating cash flow (approximation) | €10k | €14k | €26k | ▲ 84.4% |
| Investment in fixed assets (approximation) | - | €-3k | €0 | ▲ 100% |
| Change in cash | - | €-2k | €2k | ▲ 187% |
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
07-05
Bankruptcy
Opening
Ondernemingsrechtbank Antwerpen, afdeling Antwerpen · event 29-04-2025
2024
19-03
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2021net €18k ▲187%
Operating result €19k, net result €18k, both a record.
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
24-02
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 208 days late
2022
31-12
Financial
Liquidity times 6current ratio 1.68
Current ratio from 0.29 to 1.68; short-term debt falls from €79k to €16k.
SignalFinancial 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.
Have them read with priority
Sign in to place this company at the front of the reading queue.
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, Stabroek · 1 establishment unit since 2021
Ground area
141 m²
Building footprint
66 m²
Volume, LiDAR
300 m³
Parcel 11044A0047/00B002, Flanders · tallest building 6.9 m, ±2 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
MSJ Projects
since 20212.314.786.224
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11044A0047/00B002 | Flanders | 141 m² | 1 · 66 m² | 6.9 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | KRISTIAAN CALUWAERTS POTVLIETLAAN 4, 2600 01
ANTWERPEN/BERCHEM |
29-04-2025 → present |
Similar companies · same sector, comparable size
XENTROGRAPHICS
BE 0476.661.760
Beveren-Kruibeke-Zwijndrecht · Eq €32,588
BRUSKETTA
BE 0889.091.508
Antwerpen · Eq €32,585
RESTO56
BE 0671.921.869
Brussel · Eq €32,615
QH
BE 0683.845.347
Deinze · Eq €32,630
LES MIXOLOGISTES
BE 0698.896.084
Jodoigne · Eq €32,547
Of 20,501 companies in sector 56111 we hold annual accounts for 11,453. 9,552 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded11-03-2021
Fiscal year end31-12
Activities, NACEBEL 2025
56111Full-service restaurants
Scores and ratios are computed by Checked and are not a credit decision.