Active BE 0697.873.527Private limited company (pre-2019)Open bankruptcy

MSM-Flex 2

Zandstraat(HRT) 58 ·2200 Herentals, Belgium· 8 yrs active

Sector: Food & beverage service (56112)

Conclusion Checked

A 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.

Based on the State Gazette, CBE and 4 annual accounts.

Key figures

Equity	€44k
Net result	€11k
Staff (FTE)	20
Better than sector	49%

Snowflake analysis 5 axes · computed by Checked

29 / 100

Fragile profile — watch health in particular.

Health 0

Profitability 100

Solvency 15

Growth 32

Stability 0

Bankruptcy probability (12 mo) Checked model v1 · free

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.

Risk Assessment rule-based

50 / 100

High risk

Components

· Open bankruptcy (+50)

Trust signals 1 signals

Open bankruptcy

Active bankruptcy procedure in the Belgisch Staatsblad. Claims are handled by the appointed curator.

Administrative Flags 0 events

No administrative flags

Health barometer FY 2022 · computed

0 / 100 Critical

050100

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Computed by Checked from NBB filings and Belgian State Gazette signals. Indicative — not credit advice.

Financial overview4 NBB filings

Annual accounts filed on 30-10-2023 with the NBB · fiscal year 2022 · micro

Operating resultNet result

Sector comparison

Fiscal year 2022 · NACE 56 — Food & beverage service · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	10.8%	11.6%	better than 49% of 571 sector peers
Net result	€11k	€-2k	better than 75% of 569 sector peers
Equity	€44k	€6k	better than 85% of 571 sector peers
Gross operating margin	€245k	€28k	better than 95% of 568 sector peers
Staff costs	€174k	€38k	higher than 88% of 390 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

EBITDA

€70k

+41.8% 19–22

Net profit

€11k

— 19–22

Cash flow

€60k

+97.8% 19–22

Total assets

€412k

+10.1% 19–22

Equity

€44k

+32.9% 19–22

Working capital

€-33k

+43.7% 19–22

Employees (FTE)

20

+20.5% 19–22

Staff costs

€174k

-3.5% 19–22

Income taxes

€3k

+274.4% 19–22

Debt

€368k

+7.8% 19–22

Debt ≤ 1y

€226k

+40.7% 19–22

Debt > 1y

€142k

-21.3% 19–22

Current ratio

0.85

+35.0% 19–22

Quick ratio

0.84

+38.3% 19–22

Solvency

10.8%

+20.7% 19–22

Debt / equity

8.29

-18.8% 19–22

ROE

24.7%

— 19–22

ROA

2.7%

— 19–22

Interest coverage

9.43

+307.9% 19–22

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2022
Revenue	—
EBITDA	€70k
Net profit	€11k
Cash flow	€60k
Staff costs	€174k
Income taxes	€3k
Dividends	—
Total assets	€412k
Equity	€44k
Debt	€368k
of which ≤ 1y	€226k
of which > 1y	€142k
Working capital	€-33k
Employees (FTE)	20.0

Ratios (computed)

	2022
Current ratio	0.85
Quick ratio	0.84
Working capital ratio	-8.1%
Solvency	10.8%
Debt / equity	8.29
Long-term debt ratio	3.21
Interest coverage	9.43
Gross margin	—
Net margin	—
ROA	2.7%
ROE	24.7%
EBITDA margin	—
Days sales outstanding	—
Days payable outstanding	—
Inventory turnover	—
Days inventory (DSI)	—

Balance-sheet composition 2022

Assets

Fixed assets €220k · 53.3% Current assets €192k · 46.7%

Equity & liabilities

Equity €44k · 10.8% Debt €368k · 89.2%

Full annual accounts

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2022
Balance sheet — Assets
TOTAL ASSETS	20/58	€412k
Fixed assets	21/28	€220k
Tangible fixed assets	22/27	€217k
Financial fixed assets	28	€3k
Current assets	29/58	€192k
Stocks & contracts in progress	3	€2k
Amounts receivable within one year	40/41	€170k
Cash & bank	54/58	€20k
Balance sheet — Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€412k
Equity	10/15	€44k
Contributions / capital	10/11	€19k
Accumulated profits (losses)	14	€26k
Amounts payable	17/49	€368k
Amounts payable after one year	17	€142k
Amounts payable within one year	42/48	€226k
Trade debts payable within one year	44	€97k
Income statement
Gross operating margin	9900	€245k
Operating result	9901	€21k
Financial income	75	€0
Financial charges	65	€7k
Result before taxes	9903	€14k
Income taxes	67/77	€3k
Net result for the period	9904	€11k
Result to be appropriated	9905	€11k

You're seeing the latest fiscal year only. Unlock 3 prior years (figures + ratios) with a paid plan. See plans →

Ratios computed by Checked.

Directors & mandates2 persons

Role	Name	Tenure	Source
Curator	KRISTOF BENIJTS BOVENRIJ 76, 2200 HERENTALS-	12-05-2026 → present	Belgian State Gazette
Curator	PHILIP SOMERS BOVENRIJ 76, 2200 HERENTALS ↔ Also on 91 other cases	12-05-2026 → present	Belgian State Gazette

Legal Structure

NACE primary	Food & beverage service(56112)
Legal form	Private limited company (pre-2019)(015)
Incorporation	13-06-2018
Status	Active
Postal code	2200
First BS signal	21-05-2026
Latest BS signal	21-05-2026

Company structure — linked entities2 linked entities

Mandates

↔ 1 of these mandate-holders are active on other cases — click any red card to open that KBO.

Establishment units 1 location

MSM-Flex 2

Zandstraat(HRT) 58, 2200 HerentalsEetgelegenheden met beperkte bediening

since 20182.276.582.476

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Real-estate footprint Source: CBE × cadastre

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.
13011F0263/00E003	Flanders	294 m²	1 · 195 m²	14.3 m · 4 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.

Updates 7 events

A single timeline of everything that happened to this company — publications, insolvency and lifecycle events, administrative changes and filed annual accounts.

2026

21-05-2026

Bankruptcy Opening

Ondernemingsrechtbank Antwerpen, afdeling Turnhout · MSM-FLEX 2 BV ZAND- STRAAT 58, 2200 HERENTALS · event 12-05-2026

2023

30-10-2023

NBB filing Annual accounts filed

fiscal year 2022 · micro

03-10-2023

NBB filing Annual accounts filed

fiscal year 2021 · micro

26-09-2023

State Gazette act Capital & shares

03-07-2023

State Gazette act Capital & shares

2021

31-08-2021

NBB filing Annual accounts filed

fiscal year 2020 · micro

2020

27-08-2020

NBB filing Annual accounts filed

fiscal year 2019 · micro

Lifecycle & Insolvency Signals 1 events

21-05-2026

Bankruptcy Opening

Date: 12-05-2026 · Ondernemingsrechtbank Antwerpen, afdeling Turnhout · MSM-FLEX 2 BV ZAND- STRAAT 58, 2200 HERENTALS · Publications in State Gazette ↗

Time machine — BS events + macro context 2021 — 2026

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 · 2

26-09-2023

Capital change

03-07-2023

Capital change

All acts · 2 updated 2 years ago

2023

26-09-2023 Transaction in capital or shares Capital & shares

Original publication ↗

Technical details

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03-07-2023 All shares are now held by a single shareholder Capital & shares

Original publication ↗

Technical details

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Company registry (CBE) Crossroads Bank

Activities

Eetgelegenheden met beperkte bediening56102Activiteiten van eetgelegenheden met beperkte bediening, muv mobiele eetgelegenheden56112

Primary activity highlighted.

Names & trade names

Legal nameNL

MSM-Flex 2

Registered office

Zandstraat(HRT) 58

2200 Herentals, Belgium

Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.

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