MSM PROJECTS

Active

Private limited companyfounded 2023active for 2 yearsVoie de Cornimont,Vivy 48, 6833 Bouillon, BelgiumKBO/BCE: BE 1002.941.101

Summary

The computed 12-month bankruptcy probability of MSM PROJECTS is 3.1% (moderate). The annual accounts of MSM PROJECTS for financial year 2025 show a net loss of 51% of the equity at the start of that year. The 2025 annual accounts show equity of €11,644 and a net result of -€11,977. Its solvency ranks better than 25% of 13,639 sector peers (NACE 46, financial year 2025). The company has been active since 2023 and the Belgian Official Gazette contains no insolvency or warning signals.

Risk analysisFollow Report Compare

MSM PROJECTSActiveChecked score 48/100

Risk analysis Report Compare

Activity

Wholesale of beverages, general range

NACE 46349Wholesale of wines and spirits NACE 46341

1 site

Size

€142,226total assets 2025

Equity: €11,644
Loss: -€11,977

Turnover not published (micro format)

Financial health

48 Fair Checked score 2025

Bankruptcy probabilitywithin 12 months: 3.1%

Structure

2025 accounts on time

Why 48raises riskFounded in 2023Liquidity: current ratio 0.95, cash €214, halvedLoss of €11,977, the second in a row (financial year 2025)lowers riskSize: total assets €142,226Show the evidence

Checked score

Score 2025

48 / 100

Fair

Probability in this band: 1.5% to 4.2%

Financially better than 12% of its sector peers (NACE 46, micro)

Every signal that counts is listed under Signals.

Financial strength · tick = 2024

Weak

Solvency 33-9

equity 8.2% of total assets

Liquidity 0-12

short-term debt 91.8% · cash 0.2%

Profitability 8-8

return on assets -8.4%

Bankruptcy probability, 12 months

3.1% Moderate

0%0.5%1.5%4%10%≥ 25%

About 3 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.4% (26,882 companies, NACE 46, micro)

Last 24 months 01-2025: 1.7%lowest value 02-2025: 1.8%▲ +0.1 percentage points vs 01-2025 03-2025: 2.1%▲ +0.3 percentage points vs 02-2025 04-2025: 2.2%▲ +0.1 percentage points vs 03-2025 05-2025: 2.3%▲ +0.1 percentage points vs 04-2025 06-2025: 2.3%● unchanged vs 05-2025 07-2025: 2.5%▲ +0.2 percentage points vs 06-2025 08-2025: 2.6%▲ +0.1 percentage points vs 07-2025 09-2025: 2.5%▼ -0.1 percentage points vs 08-2025 10-2025: 2.6%▲ +0.1 percentage points vs 09-2025 11-2025: 3.2%▲ +0.6 percentage points vs 10-2025 12-2025: 3.3%▲ +0.1 percentage points vs 11-2025highest value 01-2026: 3.3%● unchanged vs 12-2025highest value 02-2026: 3.3%● unchanged vs 01-2026highest value 03-2026: 3.3%● unchanged vs 02-2026highest value 04-2026: 3.3%● unchanged vs 03-2026highest value 05-2026: 3.3%● unchanged vs 04-2026highest value 06-2026: 3.2%▼ -0.1 percentage points vs 05-2026 07-2026: 3.1%▼ -0.1 percentage points vs 06-2026 08-2026: 3.1%● unchanged vs 07-2026 09-2026: 2.9%▼ -0.2 percentage points vs 08-2026 10-2026: 3.1%▲ +0.2 percentage points vs 09-2026

Credit of up to €500 on 30-day terms, only on tighter conditions

Net loss of at least half of total assets or of the equity at the start of the financial year.

Liquidity insufficient (current ratio 0.95, compared with 1.02 in 2024, below 1; short-term debt: 91.8% and cash: 0.2% of total assets), and 91.8% of the assets are financed with debt and provisions.

How it is calculated

The band follows from the bankruptcy probability, on a scale where 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 46, micro): better than 22% on solvency, 2% on liquidity, 16% on profitability and 10% on growth.

The bankruptcy probability was computed on 26-10-2026 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.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Six signals.

lowers riskraises riskneutral

Founded in 2023

Companies of this age fail more often than older ones; how much that weighs depends on the rest of its profile.

KBO

Liquidity: current ratio 0.95, cash €214, halved

NBB · annual accounts

Size: total assets €142,226

Companies of this size fail less often; how much that weighs depends on the rest of its profile.

NBB · annual accounts

Loss of €11,977, the second in a row (financial year 2025)

NBB · annual accounts

Persistent losses

Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.

NBB · annual accounts 2025

Net result per financial year

2425

2024 to 2025 · latest year -€11,977

Latest accounts filed on time

The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 31-10-2025, 0 days ahead of the deadline.

NBB · 2 filings

Deviation from the deadline

2025

on the day

2024

on the day

← before the deadline after the deadline →

tick = median of all Belgian filingsring = median in the sector

This company filed its last 2 accounts on average on the deadline day; the sector median (NACE 46) for financial year 2024 is 3 days before the deadline, and 39% of those companies filed late.

Searched, nothing found (2)

Next filing not due yet

The financial year that closed on 31-03-2026 is due by 31-10-2026. Nothing is late today.

Companies Code · seven months

Where today falls in the filing period

31-03-2026 year end27-10-2026 today31-10-2026 deadline

No strike-offs in the KBO publications

Searched since incorporation in 2023.

KBO publications · our coverage

31-10-2025 Annual accounts filedfinancial year 2025 · micro…
31-10-2024 Annual accounts filedfinancial year 2024 · micro…
06-12-2023 IncorporationAppointments: RONSMANS Martin Jean Charles…

Key points

Caution: Among the weakest 16% on net resultsector median €5,648 · 13,645 companies -€11,977 View
Board3 directors in office 3 View
Total assets 20252 financial years filed €142,226 View

By topic

Financials

Financial year: 2025
Total assets: €142,226
Loss: -€11,977
Solvency: 8.2%

Go to Financials

Board & ownership

Board: 3 members

CAYPHAS SavinienDirector
RONSMANS Martin Jean CharlesDirector
TORDEURS Mathieu Marc ClaireDirector

Go to Board & ownership

Timeline

Events: 3
Since: 2023
Next accounts: by 31-10-2026

Go to Timeline

Company details

Sites: 1

Legal form: Private limited company
Activity: Wholesale of beverages, general rangeNACE 46349
Founded: 04-12-2023
Year ends: 31-03
Peppol: Reachable for e-invoices

Go to Company details

Articles of association

Provisions read: 28

Annual meeting: Last Friday of August at 18:00
Purpose: “Le commerce, en gros et au détail, l’importation et l’exportation de toutes boissons, vins…” (deed in French)

Go to Articles of association

Key facts about MSM PROJECTS

What is the company number of MSM PROJECTS?: 1002.941.101. In Belgium the VAT number is the company number with BE in front: BE 1002.941.101.
Where is MSM PROJECTS based?: The registered office is at Voie de Cornimont,Vivy 48, 6833 Bouillon.Company details
What does MSM PROJECTS do?: According to the KBO register, the main activity is wholesale of beverages, general range (NACE 46349).
What is the legal form of MSM PROJECTS?: Private limited company (BV).
When was MSM PROJECTS founded?: On 04-12-2023.
Is MSM PROJECTS still active?: Yes, MSM PROJECTS is an active enterprise in the KBO register.
What is the turnover of MSM PROJECTS?: €44,283 in financial year 2024, according to the filed annual accounts.Financials
Is MSM PROJECTS profitable?: In financial year 2025, MSM PROJECTS made a loss of €11,977.
Where can I find the annual accounts of MSM PROJECTS?: MSM PROJECTS filed 2 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
When are the next annual accounts of MSM PROJECTS due?: By 31-10-2026, for financial year 2026.Timeline