MSL
ActiveSummary
The computed 12-month bankruptcy probability of MSL is 4.4% (elevated). The 2024 annual accounts show negative equity (€-46k) and a net result of €1k. Equity is shrinking by ~42.3% per year across the filed fiscal years. Its solvency ranks better than 14% of 18936 sector peers (fiscal year 2024). The company has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
23
/ 100
Critical
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability37▲+35
Solvency0=
Growth32=
Track record100
Bankruptcy probability, 12 months
4.4%
Elevated
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.4 against 0.48 in 2023; short-term debt: 162.3% and cash: 3.2% of total assets), and equity is negative.
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○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 56
Relative position
BE, all sectors
reference
Sector 56
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
-62.3%
Return on assets
1.7%
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 14% of 18936 sector peers (2024).
NBB · sector comparisonPosition among 18936 sector peers
Solvency
better than 14%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 07-10-2025, 68 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 · 10 filingsDeviation from the deadline
2025
not confirmed
2024
68 d late
2023
29 d late
2022
29 d late
2021
31 d late
2020
30 d late
2019
90 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€-46k▲ 2.7%
2023 · €-47k
2018: €3k
2019: €-22k
2020: €494
2021: €-15k
2022: €-28k
2023: €-47k
2018 → 2024
Total assets
€74k▼ 25.4%
2023 · €99k
2018: €150k
2019: €112k
2020: €96k
2021: €85k
2022: €81k
2023: €99k
2018 → 2024
Net result
€1k
2023 · €-20k
2018: €25k
2019: €-25k
2020: €22k
2021: €-16k
2022: €-12k
2023: €-20k
2018 → 2024
Working capital
€-72k▲ 6.6%
2023 · €-77k
2018: €-118k
2019: €-124k
2020: €-83k
2021: €-76k
2022: €-66k
2023: €-77k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€494-€-15k€-28k▼ 79.8%€-47k▼ 71.6%€-46k▲ 2.7%
Operating result€12k-€-11k€-9k▲ 17.7%€-10k▼ 7.4%€9k
Net result€22k-€-16k€-12k▲ 22.6%€-20k▼ 61.3%€1k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €9k after a loss of €10k in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €74k
Fixed assets
€26k ▼ 13.0%
Current assets
€49k ▼ 30.6%
Key figures and ratios
EBITDA
€14k▲
2023 · €2k
Cash flow
€7k▲
2023 · €-8k
Solvency
-62.3%▼
2023 · -47.7%
Current ratio
0.40▼
2023 · 0.48
Quick ratio
0.04▼
2023 · 0.32
Debt to equity
-2.61▲
2023 · -3.09
ROA
1.7%▲
2023 · -19.9%
Interest coverage
1.91▲
2023 · 0.27
Debt
€120k▼
2023 · €147k
Debt ≤ 1 year
€120k▼
2023 · €147k
Staff costs
€92k▲
2023 · €81k
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 · 38 lines
Balance sheet
Code20232024
Assets
Total assets20/58€99k€74k▼
Fixed assets21/28€29k€26k▼
Tangible fixed assets22/27€15k€11k▼
Plant, machinery and equipment23€15k€11k▼
Financial fixed assets28€15k€15k=
Current assets29/58€70k€49k▼
Stocks and contracts in progress3€23k€44k▲
Stocks30/36€23k€44k▲
Amounts receivable within one year40/41€1k€3k▲
Other amounts receivable41€1k€3k▲
Cash at bank and in hand54/58€46k€2k▼
Equity and liabilities
Total equity and liabilities10/49€99k€74k▼
Equity10/15€-47k€-46k▲
Contributions10/11€19k€19k=
Reserves13€2k€2k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Profit (loss) carried forward14€-68k€-67k▲
Amounts payable17/49€147k€120k▼
Amounts payable within one year42/48€147k€120k▼
Trade debts44€49k€25k▼
Suppliers440/4€49k€25k▼
Taxes, remuneration and social security45€59k€52k▼
Taxes450/3€59k€52k▼
Other amounts payable47/48€38k€43k▲
Income statement
Code20232024
Remuneration, social security and pensions62€81k€92k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€12k€5k▼
Other operating charges640/8€3k€1k▼
Gross operating margin9900€86k€107k▲
Operating profit (loss)9901€-10k€9k▲
Financial charges65/66B€10k€7k▼
Recurring financial charges65€7k€7k▲
Non-recurring financial charges66B€3k-
Profit (loss) for the period before taxes9903€-20k€1k▲
Profit (loss) for the period9904€-20k€1k▲
Profit (loss) for the period to be appropriated9905€-20k€1k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-68k€-67k▲
Profit (loss) brought forward from the previous period14P€-48k€-68k▼
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2026
14-08
State Gazette act
Registered officeRegistered-office move2 facts ▸
State Gazette act
Registered office
Registered-office move2 facts ▸
- General meeting, 22/06/2026
- Registered-office move, Boulevard Joseph Tirou 88 à 6000 Charleroi
2025
07-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 68 days late
2024
31-12
Financial
Back to profitnet €1k
Net result €1k after 3 loss-making years.
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 29 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
31-12
Financial
Back to profitnet €22k
Net result €22k after one loss-making year.
29-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 90 days late
2019
31-12
Financial
Weakest financial yearnet €-25k
Net result drops to €-25k, the lowest in the series; recovery starts the following year.
30-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 61 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 31 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 30 days late
2016
31-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 31 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 12 acts read
About the unread acts
Of the 12 Belgian State Gazette acts we know for this company, 1 has been read. The other 11 have not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
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Directors · office · real estate
Directors
12 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Brussel · 1 establishment unit since 2013
Ground area
766 m²
Building footprint
351 m²
Volume, LiDAR
6,023 m³
2 parcels, Brussels, Wallonia · tallest building 24.5 m, ±7 floors. Linked by address, not a title deed.
78
companies at this address
See who is registered here
1 establishment unit
Harper's
since 20132.218.757.709
2 parcels
Wallonia
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52011D0036/00C000 | Wallonia | 496 m² | 1 · 163 m² | 14.7 m · 4 fl. |
| 21803C0244/00F002 | Brussels | 270 m² | 1 · 188 m² | 24.5 m · 7 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
1 siteCharleroi2.218.757.709
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Au Relais Des Oies
BE 1023.370.487
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ISACO
BE 0826.321.422
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Sainte Cecile
BE 0403.918.490
Bassenge · Eq €477
Of 14,009 companies in sector 56301 we hold annual accounts for 4,892. 627 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
Founded04-12-2012
Fiscal year end31-12
Activities, NACEBEL 2025
56301Cafés and bars
Sources
Crossroads Bank for EnterprisesBelgian Official Gazette · 1 actNational Bank · 12 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.