MSM
ActiveThe file of MSM contains 2 historical bankruptcy publications, as published in the Belgian Official Gazette.
Summary
The computed 12-month bankruptcy probability is 2.0% (moderate). The 2025 annual accounts show equity of €592,290 and a net result of -€139,176. Equity has been growing by about 50% per year since 2018. Its solvency ranks better than 38% of 34,972 sector peers (NACE 43, financial year 2025).
Overview
Official details
Source: KBO- Status
- Active since 30-01-2017 Normal situation
- Activity
- Plastering work NACE 43310and 5 others
- Joint committees
- 200 Auxiliary committee for white-collar workers
- 149.04 Metal trade · annual accounts 2023
- Establishment units
- 2.264.449.162 3012 Leuven, since 30-01-2017
- 2.293.303.001 3380 Glabbeek, since 01-03-2017
- Financial year end
- 31 December
- Peppol
- Reachable since 25-08-2026
Board and ownership
- MAHMOEDOV ShamhanDirector · since 25-01-2024
- Holdings
- Shares in 1 company MSM Energy Solutions
Financial position
- Bankruptcy probabilitywithin 12 months
- 2.0%
- Gross margin
- €759,940
- ▼ 37.7%
- Turnover
- ≈ €2.1m
- estimated
- Loss
- €139,176
- Equity
- €592,290
- ▼ 19.0%
- Total assets
- €1.6m
- ▲ 3.0%
- Employees on 31-12-2025
- 19
- ▲ 5.6%
- 2025 accounts filed 56 days after the deadline
Score breakdownraises riskLast filed accounts filed 56 days late; 2 of the last 3 accounts lateLoss of €139,176 (financial year 2025)Liquidity: current ratio 1.40, cash €29,893, halvedlowers riskSize: total assets €1.6mShow the evidence
Checked score
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 43, micro). It does better than 38% of them on solvency, 10% on liquidity, 11% on profitability and 19% on growth.
The bankruptcy probability was computed on 04-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the moderate class on 30-06-2025, 2.4% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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Signals
The company filed its last 7 accounts on average 125 days after the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
Key points
Recent changes
- · Gazette deed Resignation: MAHMOEDOV Shamhan (manager)Reappointment: MAHMOEDOV Shamhan (director) · Director discharge: MAHMOEDOV Shamhan
- · Gazette deed Registered office moved from Gingelom to WilseleNew registered office: Wijgmaalsesteenweg 100, 3012 Wilsele · Previous registered office: Abdijstraat 15, 3890 Gingelom, België
- · Bankruptcy Bankruptcy reversalEnterprise Court of Antwerp, Hasselt division · judgment of 30-03-2023
Comparable companies
These companies have the same main activity as MSM: plastering work (NACE 43310). They are comparable in size and age: total assets between €1.2m and €2.1m, founded between 2012 and 2019.
| Company | Total assets | Gross margin |
|---|---|---|
| MSM Leuven | €1.6m | €0.8m |
| JSF Mol | €1.4m | €0.7m |
| VAN DUYSEN Hamme (Vl.) | €1.9m | €0.5m |
| DS Details Zonhoven | €1.2m | €0.6m |
| ALGEMENE PLEISTERWERKEN DE SMET Wetteren | €1.6m | €0.4m |
| GEVELPROJECT Kuurne | €2.1m | €1.2m |
| BZ PUNT Houthalen-Helchteren | €1.9m | €1.1m |
Key facts about MSM
- What is the company number of MSM?
- The company number of MSM is 0670.520.022. The VAT number is the same number with BE in front: BE 0670.520.022.
- Where is MSM based?
- The registered office is at Wijgmaalsesteenweg 100, 3012 Leuven.Company details
- What does MSM do?
- According to the KBO register, the main activity is plastering work (NACE 43310).
- What is the legal form of MSM?
- MSM is a private limited company (BV).
- When was MSM founded?
- MSM was founded on 30-01-2017.
- Is MSM still active?
- Yes, MSM is an active enterprise in the KBO register.
- How many employees does MSM have?
- MSM had an average of 20.4 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does MSM fall under?
- In its 2023 annual accounts, MSM states joint committees 200 (Auxiliary committee for white-collar workers) and 149.04 (Metal trade).
- What is the turnover of MSM?
- The turnover in financial year 2025 is ≈ €2.1m. This figure is estimated from the gross margin of €759,940 and 61 comparable companies (NACE 433). It probably lies between €1.6m and €2.9m.
- Is MSM profitable?
- In financial year 2025, MSM made a loss of €139,176.
- Where can I find the annual accounts of MSM?
- MSM filed 9 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of MSM due?
- MSM must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
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