MSMP
ActiveSummary
MSMP has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€8,050) and a net result of -€2,200. Equity is shrinking by ~52.3% per year across the filed fiscal years. Its solvency ranks better than 18% of 14220 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability36▲+1
Solvency22▼-1
Growth32=
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity ample (current ratio 59.97; short-term debt: 1.7% and cash: 0.2% of total assets), but equity is negative.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-2.8%
Return on assets
-0.8%
Age of the figures
9 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€8,050
neutral · A punctual record breaks
This company filed 4 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 25-08-2026, 25 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
25 d late
2024
34 d early
2023
21 d early
2022
24 d early
2021
46 d early
2020
46 d late
2019
35 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 3 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
-€8,050▼ 37.6%
2024 · -€5,850
Total assets
€284,863▲ 0.2%
2024 · €284,365
Net result
-€2,200▲ 22.8%
2024 · -€2,850
Working capital
€280,113▼ 1.1%
2024 · €283,251
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€9,712▼ 75.2%-€3,488▲ 64.1%-€5,099▼ 46.2%-€2,783▲ 45.4%-€2,071▲ 25.6%
Net result-€10,811below the sector's middle half▼ 63.4%-€4,314within the sector's middle half▲ 60.1%-€5,544within the sector's middle half▼ 28.5%-€2,850within the sector's middle half▲ 48.6%-€2,200within the sector's middle half▲ 22.8%
Equity-€5,542below the sector's middle half-€9,856below the sector's middle half▼ 77.8%-€2,999below the sector's middle half▲ 69.6%-€5,850below the sector's middle half▼ 95.0%-€8,050below the sector's middle half▼ 37.6%
Total assets€2,449below the sector's middle half▼ 84.8%€591below the sector's middle half▼ 75.9%€284,034within the sector's middle half▲ 47,985%€284,365within the sector's middle half▲ 0.1%€284,863within the sector's middle half▲ 0.2%
Debt€7,990▼ 25.9%€10,446▲ 30.7%€287,033▲ 2,648%€290,214▲ 1.1%€292,912▲ 0.9%
Working capital-€6,063-€9,620▼ 58.7%€283,261€283,251=€280,113▼ 1.1%
Solvency-1.1%below the sector's middle half-2.1%below the sector's middle half▼ 1.0pp-2.8%below the sector's middle half▼ 0.8pp
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €2,071 in 2025 against €2,783 in 2024; the loss shrinks.
Key figures and ratios
Current ratio
59.97
Quick ratio
0.80▼
2024 · 2.97
Debt to equity
-36.39▲
2024 · -49.61
ROA
-0.8%▲
2024 · -1.0%
Debt ≤ 1 year
€4,750▲
2024 · €1,114
Debt > 1 year
€288,121▼
2024 · €289,070
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,338 companies that looked in July 2024 the way this one looks now, 2.5% went bankrupt within 24 months and 90% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a small loss
2.5%
went bankrupt
5.6%
stopped otherwise
90%
still going
A further 1.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.5% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 2,338 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €300 | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €380 | €760 | €0 | - | - | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €570 | €0 | - | - | - | - |
| Other operating charges640/8 | €813 | €348 | €467 | €387 | €400 | ▲ 3.2% |
| Gross operating margin9900 | -€7,949 | -€2,380 | -€4,631 | -€2,396 | -€1,671 | ▲ 30.2% |
| Operating profit (loss)9901 | -€9,712 | -€3,488 | -€5,099 | -€2,783 | -€2,071 | ▲ 25.6% |
| Financial charges65/66B | €1,099 | €826 | €445 | €67 | €129 | ▲ 91.3% |
| Recurring financial charges65 | €1,099 | €826 | €445 | €67 | €129 | ▲ 91.3% |
| Profit (loss) for the period before taxes9903 | -€10,811 | -€4,314 | -€5,544 | -€2,850 | -€2,200 | ▲ 22.8% |
| Profit (loss) for the period9904 | -€10,811 | -€4,314 | -€5,544 | -€2,850 | -€2,200 | ▲ 22.8% |
| Transfer from tax-exempt reserves789 | €0 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | -€10,811 | -€4,314 | -€5,544 | -€2,850 | -€2,200 | ▲ 22.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2,449 | €591 | €284,034 | €284,365 | €284,863 | ▲ 0.2% |
| Fixed assets21/28 | €760 | €0 | - | - | - | - |
| Intangible fixed assets21 | €760 | €0 | - | - | - | - |
| Current assets29/58 | €1,689 | €591 | €284,034 | €284,365 | €284,863 | ▲ 0.2% |
| Amounts receivable after more than one year29 | €0 | - | - | - | - | - |
| Other amounts receivable291 | €0 | - | - | - | - | - |
| Stocks and contracts in progress3 | - | - | €281,054 | €281,054 | €281,054 | = |
| Stocks30/36 | - | - | €281,054 | €281,054 | €281,054 | = |
| Amounts receivable within one year40/41 | €1,635 | €590 | €2,376 | €2,865 | €3,203 | ▲ 11.8% |
| Trade receivables40 | €1,271 | €0 | - | - | - | - |
| Other amounts receivable41 | €364 | €590 | €2,376 | €2,865 | €3,203 | ▲ 11.8% |
| Cash at bank and in hand54/58 | €1 | €0 | €603 | €445 | €606 | ▲ 36.2% |
| Deferred charges and accrued income490/1 | €53 | €0 | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2,449 | €591 | €284,034 | €284,365 | €284,863 | ▲ 0.2% |
| Equity10/15 | -€5,542 | -€9,856 | -€2,999 | -€5,850 | -€8,050 | ▼ 37.6% |
| Contributions10/11 | €6,200 | €6,200 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | €200 | €200 | €200 | €200 | €200 | = |
| Reserves not available under the articles1311 | €200 | €200 | €200 | €200 | €200 | = |
| Distributable reserves133 | €1,660 | €1,660 | €1,660 | €1,660 | €1,660 | = |
| Profit (loss) carried forward14 | -€13,602 | -€17,916 | -€23,459 | -€26,310 | -€28,510 | ▼ 8.4% |
| Amounts payable17/49 | €7,990 | €10,446 | €287,033 | €290,214 | €292,912 | ▲ 0.9% |
| Amounts payable after more than one year17 | - | - | €286,154 | €289,070 | €288,121 | ▼ 0.3% |
| Other amounts payable178/9 | - | - | €286,154 | €289,070 | €288,121 | ▼ 0.3% |
| Amounts payable within one year42/48 | €7,751 | €10,210 | €773 | €1,114 | €4,750 | ▲ 327% |
| Financial debts43 | €4,979 | €4,977 | €336 | €0 | - | - |
| Credit institutions430/8 | €4,979 | €4,977 | €336 | €0 | - | - |
| Trade debts44 | €1,085 | €3,559 | €436 | €114 | €0 | ▼ 100% |
| Suppliers440/4 | €1,085 | €3,559 | €436 | €114 | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | €511 | €0 | - | - | - | - |
| Taxes450/3 | €511 | €0 | - | - | - | - |
| Other amounts payable47/48 | €1,176 | €1,674 | €0 | €1,000 | €4,750 | ▲ 375% |
| Accrued charges and deferred income492/3 | €239 | €236 | €106 | €31 | €42 | ▲ 34.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€10,811 | -€4,314 | -€5,544 | -€2,850 | -€2,200 | ▲ 22.8% |
| + Depreciation and write-downs630 | €380 | €760 | €0 | - | - | - |
| Operating cash flow (approximation) | -€10,431 | -€3,554 | -€5,544 | -€2,850 | -€2,200 | ▲ 22.8% |
| Investment in fixed assets (approximation) | - | €0 | - | - | - | - |
| Change in cash | - | -€1 | €603 | -€158 | €161 | ▲ 202% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
25-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 25 days late
2025
27-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
10-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Liquidity times 6355current ratio 367.63
Current ratio from 0.06 to 367.63; short-term debt falls from €10,210 to €773.
07-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
15-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
15-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 46 days late
2020
04-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 35 days late
2019
31-12
Financial
Weakest financial yearnet -€19,609
Net result drops to -€19,609, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
27-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 27 days late
2017
18-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 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, Erquelinnes · 1 establishment unit since 2014
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.
Sainte-Anne 146560 Erquelinnes1 establishment unit
MSMP
since 20142.232.164.196
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Of 7,326 companies in sector 68110 we hold annual accounts for 5,384. 1,364 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded27-05-2014
Fiscal year end31-12
Activities, NACEBEL 2025
68110Buying and selling of own real estate
46641Wholesale trade
73300Public relations and communication consultancy
77223Rental and leasing activities
Contact
E-mail
dufaux.sylvie@mdssa.beErquelinnes
Phone
0477857466Erquelinnes
E-invoicing
Reachable via Peppol
Peppol ID
0208:0552986409
Also
9925:BE0552986409
Registered
18-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.