MSM-Flex 2
Open bankruptcyA bankruptcy procedure is open for MSM-Flex 2 according to publications in the Belgian State Gazette. The 2022 annual accounts show equity of €44k and a net result of €11k.
Signals
Three signals.
+raises risk○neutral
Financials · fiscal year 2022, micro schema
Equity
€44k▲ 32.9%
2021 · €33k
2019: €53k
2020: €52k
2021: €33k
2019 → 2022
Total assets
€412k▲ 10.1%
2021 · €375k
2019: €123k
2020: €442k
2021: €375k
2019 → 2022
Net result
€11k
2021 · €-18k
2019: €34k
2020: €-923
2021: €-18k
2019 → 2022
Working capital
€-33k▲ 43.7%
2021 · €-59k
2019: €40k
2020: €-64k
2021: €-59k
2019 → 2022
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2019202020212022Trend
Equity€53k-€52k▼ 1.8%€33k▼ 35.4%€44k▲ 32.9%
Operating result€46k-€4k▼ 91.2%€692▼ 82.8%€21k▲ 2,923%
Net result€34k-€-923€-18k▼ 1,881%€11k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2022; 2022 is 2,923% above 2021.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €412k
Fixed assets
€220k▼ 19.5%
Current assets
€192k▲ 89.9%
Equity and liabilities €412k
Equity
€44k▲ 32.9%
Debt
€368k▲ 7.8%
The debt ratio falls from 91.1% to 89.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€70k▲
2021 · €49k
Cash flow
€60k▲
2021 · €30k
Solvency
10.8%▲
2021 · 8.9%
Current ratio
0.85▲
2021 · 0.63
Quick ratio
0.84▲
2021 · 0.61
Debt / equity
8.29▼
2021 · 10.22
ROE
24.7%▲
2021 · -54.7%
ROA
2.7%▲
2021 · -4.9%
Interest coverage
9.43▲
2021 · 2.31
Debt
€368k▲
2021 · €341k
Debt ≤ 1 year
€226k▲
2021 · €160k
Debt > 1 year
€142k▼
2021 · €181k
Income taxes
€3k
Staff costs
€174k▼
2021 · €181k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2022 against 2021
Balance sheet
Code20212022
Assets
Total assets20/58€375k€412k▲
Fixed assets21/28€273k€220k▼
Tangible fixed assets22/27€270k€217k▼
Plant, machinery and equipment23-€1k
Other tangible fixed assets26€270k€216k▼
Financial fixed assets28€3k€3k=
Current assets29/58€101k€192k▲
Stocks and contracts in progress3€4k€2k▼
Stocks30/36€4k€2k▼
Amounts receivable within one year40/41€77k€170k▲
Trade receivables40€24k€107k▲
Other amounts receivable41€52k€63k▲
Cash at bank and in hand54/58€21k€20k▼
Deferred charges and accrued income490/1€213-
Equity and liabilities
Total equity and liabilities10/49€375k€412k▲
Equity10/15€33k€44k▲
Contributions10/11€19k€19k=
Profit (loss) carried forward14€15k€26k▲
Amounts payable17/49€341k€368k▲
Amounts payable after more than one year17€181k€142k▼
Financial debts170/4€181k€142k▼
Amounts payable within one year42/48€160k€226k▲
Current portion of amounts payable after more than one year42€37k€36k▼
Financial debts43-€1k
Other loans439-€1k
Trade debts44€86k€97k▲
Suppliers440/4€86k€97k▲
Taxes, remuneration and social security45€33k€46k▲
Taxes450/3€26k€39k▲
Remuneration and social security454/9€7k€8k▲
Other amounts payable47/48€5k€46k▲
Income statement
Code20212022
Remuneration, social security and pensions62€181k€174k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€48k€49k▲
Other operating charges640/8€6k€881▼
Gross operating margin9900€236k€245k▲
Operating profit (loss)9901€692€21k▲
Financial income75/76B€2k€0▼
Recurring financial income75€2k€0▼
Financial charges65/66B€21k€7k▼
Recurring financial charges65€21k€7k▼
Profit (loss) for the period before taxes9903€-18k€14k▲
Income taxes67/77-€3k
Profit (loss) for the period9904€-18k€11k▲
Profit (loss) for the period to be appropriated9905€-18k€11k▲
Appropriation of the result
Profit (loss) to be appropriated9906€15k€26k▲
Profit (loss) brought forward from the previous period14P€33k€15k▼
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2026
21-05
Bankruptcy
Opening
Ondernemingsrechtbank Antwerpen, afdeling Turnhout · MSM-FLEX 2 BV ZAND- STRAAT 58, 2200 HERENTALS · event 12-05-2026
2023
30-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 91 days late
03-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 429 days late
2022
31-12
Financial
Back to profitnet €11k
Net result €11k after 2 loss-making years.
2021
31-12
Financial
Weakest financial yearnet €-18k
Net result drops to €-18k, the lowest in the series.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
27-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 27 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
3 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, Herentals · 1 establishment unit since 2018
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.
Zandstraat(HRT) 582200 HerentalsGround area
294 m²
Building footprint
195 m²
Volume, LiDAR
2,211 m³
Parcel 13011F0263/00E003, Flanders · tallest building 14.3 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
MSM-Flex 2
since 20182.276.582.476
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13011F0263/00E003 | Flanders | 294 m² | 1 · 195 m² | 14.3 m · 4 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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
2 mandates| Role | Name | Tenure |
|---|---|---|
| Curator | KRISTOF BENIJTS BOVENRIJ 76, 2200 HERENTALS- |
12-05-2026 → present |
| Curator | PHILIP SOMERS BOVENRIJ 76,
2200 HERENTALS |
12-05-2026 → present |
Recognitions · licences · registrations
Food safety, FASFC
1 siteHerentals2.276.582.476
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Of 21,896 companies in sector 56112 we hold annual accounts for 9,785. 8,436 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded13-06-2018
Fiscal year end31-12
Activities, NACEBEL
56102Limited-service restaurants
56112Limited-service restaurants, excluding mobile food services
Sources
Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers
Data from official sources, last processed on 23-09-2026. Scores and ratios are computed by Checked and are not a credit decision.