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MSM

Active
Private limited company·Detailhandel in huismeubilair· 16 yrs active
Beringersteenweg 48 ·3550 Heusden-Zolder, Belgium
Open bankruptcy
KBO/BCE: BE 0827.692.684
Watch Print / PDF
Age16 yrs
Board2
Staff (FTE)2
Real estate1 parcel · 921 m²

Summary

Conclusion

the dossier summarised in one paragraph

A bankruptcy procedure is open for MSM according to publications in the Belgian State Gazette. The 2021 annual accounts show equity of €78k and a net result of €16k.

Based on the State Gazette, CBE and 1 annual account.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone

Bankruptcy opened

A bankruptcy procedure is already open, a probability score is no longer meaningful. See the insolvency timeline for the state of the procedure.

Insolvency timeline

1 events
21-05-2025
Bankruptcy Opening
Date: 15-05-2025 · Ondernemingsrechtbank Antwerpen, afdeling Hasselt · MSM BV BERINGER- STEENWEG 48, 3550 HEUSDEN (LIMB.) · Publications in State Gazette ↗

Filing behaviour

From the deposit records, complete market-wide
Filing behaviour not assessed
The register records an open bankruptcy. From that point the trustee files and the ordinary seven-month rhythm no longer governs. The register carries no start date, so we cannot tell which filings fall before it: we show the facts and do not assess the behaviour.
How we compute the deadline
The year end is derived from 10 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2023, that is 31-07-2024.
Deadline per financial year
Year closed Due by Filed Variance Reference
31-12-2025 31-07-2026 nothing on record not filed -
31-12-2024 31-07-2025 nothing on record not filed -
31-12-2023 31-07-2024 02-03-2025 214 d late 2025-00041862
31-12-2022 31-07-2023 02-03-2025 580 d late 2025-00041863
31-12-2021 31-07-2022 30-06-2023 334 d late 2023-00181494
31-12-2020 31-07-2021 29-09-2021 60 d late 2021-69900053
31-12-2019 31-07-2020 06-07-2020 25 d early 2020-26900335
31-12-2018 31-07-2019 01-07-2019 30 d early 2019-26800331
31-12-2017 31-07-2018 31-08-2018 31 d late 2018-59500470
31-12-2016 31-07-2017 29-08-2017 29 d late 2017-51600234
31-12-2015 31-07-2016 22-09-2016 53 d late 2016-60600288
31-12-2012 31-07-2013 15-06-2013 46 d early 2013-18500048

Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

2 signals
Register: open bankruptcy
The KBO register records legal situation 050 for this company. This is today's state according to the register itself; the register carries no start date.
Open bankruptcy
Active bankruptcy procedure in the Belgisch Staatsblad. Claims are handled by the appointed curator.

Administrative Flags

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Financials

TurnoverNot published (abbreviated filing)
EBIT marginNot published (abbreviated filing)
Net result€16k
Working capital€40k
Directors2

Annual accounts & ratios

Source: NBB · 2021
Annual accounts filed on 02-03-2025 with the NBB · fiscal year 2023 · micro
Fiscal year2021
Depositverkort
Revenue-
EBITDA€29k
Net profit€16k
Cash flow€28k
Staff costs€67k
Income taxes€11k
Dividends-
Total assets€237k
Equity€78k
Debt€159k
of which ≤ 1y€157k
of which > 1y€2k
Working capital€40k
Employees (FTE)2.0
Ratios (computed)
2021
Current ratio1.25
Quick ratio1.24
Working capital ratio16.8%
Solvency32.9%
Debt / equity2.04
Long-term debt ratio0.02
Interest coverage7.10
Gross margin-
Net margin-
ROA6.9%
ROE21.0%
EBITDA margin-
Days sales outstanding-
Days payable outstanding-
Inventory turnover-
Days inventory (DSI)-
Balance-sheet composition 2021
Full annual accounts
Filed balance sheet and income statement, exactly as deposited with the NBB.
Line item Code2021
Balance sheet, Assets
TOTAL ASSETS 20/58€237k
Fixed assets 21/28€40k
Tangible fixed assets 22/27€35k
Financial fixed assets 28€5k
Current assets 29/58€197k
Stocks & contracts in progress 3€1k
Amounts receivable within one year 40/41€179k
Cash & bank 54/58€16k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES 10/49€237k
Equity 10/15€78k
Contributions / capital 10/11€19k
Reserves 13€18k
Accumulated profits (losses) 14€41k
Amounts payable 17/49€159k
Amounts payable after one year 17€2k
Amounts payable within one year 42/48€157k
Trade debts payable within one year 44€63k
Income statement
Gross operating margin 9900€97k
Operating result 9901€17k
Financial income 75€15k
Financial charges 65€4k
Result before taxes 9903€27k
Income taxes 67/77€11k
Net result for the period 9904€16k
Result to be appropriated 9905€16k
Ratios computed by Checked.

Health barometer

FY 2021 · computed
18 / 100 Critical
050100
Computed from 4 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.

See plans →
Computed by Checked from the NBB filing for FY 2021 and an insolvency signal from the Belgian State Gazette. Indicative, not credit advice.

Directors

Directors & mandates

3 directors
Current directors & mandates
  • Harun Ozden
    Non-statutory director
    State Gazette act 25059920 (09-05-2025)
    Current
    01-01-2025 → present
  • Huseyin Batuhan Ozden
    Non-statutory director
    State Gazette act 25059920 (09-05-2025)
    Current
    01-01-2025 → present
Former directors (1)
  • Berkan Ozden
    Non-statutory director
    State Gazette act 25059920 (09-05-2025)
    Former
    - → 01-01-2025
Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.This list is read straight from this company's published acts, not from the officer register.

Insolvency mandates

2 mandates
Role Name Tenure Source
Curator TOM ARTS
JAARBEURSLAAN 19/31, 3600 GENK-
 15-05-2025 → present Belgian State Gazette
Curator GEERT RENIERS
JAARBEURSLAAN 19/31, 3600 GENK
 15-05-2025 → present Belgian State Gazette

Legal Structure

NACE primary Detailhandel in huismeubilair(47551)
Legal form Private limited company(610)
Incorporation09-07-2010
StatusActive
Postal code3550
First BS signal 21-05-2025
Latest BS signal 21-05-2025

Structure & network

Ownership & control

No ownership or control structure found in the sources.

For this we read shareholding and parent/subsidiary relations from the acts in the Belgian State Gazette, plus the board seats that legal entities hold in one another. Nothing of the sort is published for this company, which is common: most Belgian companies do not publish a shareholding structure.

2 court or liquidation mandates are on record for this company. Such a mandate is a fact about the company itself, not about a tie to another one: two bankruptcies handled by the same receiver are two separate cases. They are listed under Directors & mandates.

Locations & real estate

Registered office

from the Crossroads Bank
Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Beringersteenweg 483550 Heusden-Zolder

Establishment units

1 location
ANGORA KEUKENS
Beringersteenweg 48, 3550 Heusden-ZolderMontage van buiten- en binnenschrijnwerk van hout of van kunststof : deuren, vensters, kozijnen, trappen, muurkasten, inbouwkeukens, winkelinrichtingen, enz
since 20102.193.741.310
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Parcels1
Ground area921 m²
Buildings1
Building footprint170 m²
Volume (LiDAR)1,190 m³
Tallest building11.4 m · ±2 fl.

Real-estate footprint

Source: CBE × cadastre · address linking

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.
71025A1998/00H000 Flanders 921 m² 1 · 170 m² 11.4 m · 2 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.

Publications

Lifecycle & Insolvency Signals

1 event from the State Gazette
21-05-2025
Bankruptcy Opening
Date: 15-05-2025 · Ondernemingsrechtbank Antwerpen, afdeling Hasselt · MSM BV BERINGER- STEENWEG 48, 3550 HEUSDEN (LIMB.) · Publications in State Gazette ↗

Time machine: BS events + macro context

2021-2026
COVID lockdownEnergiecrisisECB hikes2021202220232024202520262025-05-21 · Bankruptcy · Opening
Macro context
2020-Q2/Q3 COVID lockdown
2022 energy crisis
2023-2024 ECB rate hikes
Legend
Bankruptcy
Interim / reorg
KBO event

Belgisch Staatsblad · acts

2 acts
Capital history · 1
15-01-2024
Capital change
All acts · 2 updated 1 year ago
2025
09-05-2025 Publication in the Belgian Official Gazette, Minor change Minor change
Summary: Officer designation
2024
15-01-2024 Capital increase of €0 to €20,460 Capital & shares·Peter JOOSSENS
  • €20.460 → €20.460
Notary: Peter JOOSSENS · Lanaken

Analysis

Snowflake analysis

financial profile on 5 axes
Health18Profitability100Solvency57Growth-Stability0
44 / 100

Fragile profile, watch stability in particular.

Computed on 4 of 5 axes. Not measured: growth. An unmeasured axis is not a zero: no data was read for it.

Health 18
Profitability 100
Solvency 57
Growth -
Stability 0

Credit advice

verdict per customer and amount

May this customer buy amount X on invoice? Enter the amount and the payment term. This page computes a GREEN, AMBER or RED verdict from them, with a suggested ceiling and concrete conditions.

Based on official sources (NBB, CBE, State Gazette). Indicative, not credit advice.

Similar

Similar companies

Comparable size, same sector
We hold annual accounts for 320 of the 2,606 companies in this sector. 247 of them are within a factor 10 of this company's equity.

Company registry

Company registry (CBE)

Crossroads Bank
Activities
Detailhandel in huismeubilair47551Detailhandel in huismeubilair in gespecialiseerde winkels47591Schrijnwerk43320Schrijnwerk43320
Primary activity highlighted.
Names & trade names
Legal nameNL MSM
Registered office
Beringersteenweg 48
3550 Heusden-Zolder, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.