MSMT
ActiveSummary
MSMT has been active since 2018 and the Belgian Official Gazette contains no insolvency or warning signals. The 2026 annual accounts show equity of €26,323 and a net result of €12,529. Equity has been growing by about 6.1% per year since 2019. Its solvency ranks better than 82% of 1,362 sector peers (NACE 70, financial year 2026). The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 04-04-2018 Normal situation
- Activity
- Business and other management consultancy NACE 70200and 4 others
- Establishment unit
- 2.274.811.732 1210 Sint-Joost-ten-Node, since 04-04-2018
- Financial year end
- 31 March
- Peppol
- Reachable since 11-08-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- < 0.1%
- Gross margin
- €13,239
- Turnover
- ≈ €62,000
- estimated
- Profit
- €12,529
- Equity
- €26,323
- ▲ 90.8%
- Total assets
- €29,949
- ▲ 116%
Score breakdownlowers riskSector: Activities of head offices; management consultancy activities (NACE 70)Liquidity: current ratio 8.26, cash €10,516Figures for financial year 2026 (filed on 31-10-2026)Equity €26,323 (87.9% of total assets)Show the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 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 70, micro). It does better than 86% of them on solvency, 86% on liquidity, 84% on profitability and 88% on growth.
The bankruptcy probability was computed on 03-11-2026 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. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 76 days before the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2026, micro format
Annual accounts 2026 filed on 30-10-2026 at the NBB all 8 filings
Every figure per financial year
The operating result for 2026 is a profit of €12,574, after a loss of €4,789 in 2025. It is the highest result since 2022.
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | €50,433 | - | - | - | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,511 | €7,511 | €3,685 | - | - | - | - | - | - |
| Other operating charges640/8 | - | - | - | €432 | €355 | €384 | €638 | €665 | ▲ 4.2% |
| Non-recurring operating charges66A | - | - | - | €120 | - | - | €300 | - | - |
| Gross operating margin9900 | €8,532 | €3,902 | €8,157 | €1,777 | €1,339 | €4,691 | -€3,851 | €13,239 | - |
| Operating profit (loss)9901 | €80 | -€4,491 | €1,812 | €1,225 | €984 | €4,307 | -€4,789 | €12,574 | - |
| Financial charges65/66B | - | - | - | €115 | €45 | €45 | €49 | €45 | ▼ 8.2% |
| Recurring financial charges65 | €847 | €616 | €1,361 | €115 | €45 | €45 | €49 | €45 | ▼ 8.2% |
| Profit (loss) for the period before taxes9903 | -€767 | -€5,107 | €451 | €1,110 | €939 | €4,262 | -€4,838 | €12,529 | - |
| Income taxes67/77 | - | €118 | - | - | - | - | €738 | - | - |
| Profit (loss) for the period9904 | -€767 | -€5,225 | €451 | €1,110 | €939 | €4,262 | -€5,576 | €12,529 | - |
| Profit (loss) for the period to be appropriated9905 | -€767 | -€5,225 | €451 | €1,110 | €939 | €4,262 | -€5,576 | €12,529 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €39,824 | €27,856 | €16,480 | €14,925 | €16,312 | €21,019 | €13,877 | €29,949 | ▲ 116% |
| Fixed assets21/28 | €31,673 | €24,162 | €9,000 | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €22,673 | €15,162 | - | - | - | - | - | - | - |
| Financial fixed assets28 | €9,000 | €9,000 | €9,000 | - | - | - | - | - | - |
| Current assets29/58 | €8,151 | €3,694 | €7,480 | €14,925 | €16,312 | €21,019 | €13,877 | €29,949 | ▲ 116% |
| Amounts receivable within one year40/41 | €4,882 | €1,051 | - | €410 | €11,495 | €4,500 | €12,340 | €19,433 | ▲ 57.5% |
| Trade receivables40 | - | - | - | - | - | €4,500 | €4,500 | €4,500 | = |
| Other amounts receivable41 | - | - | - | €410 | €11,495 | - | €7,840 | €14,933 | ▲ 90.5% |
| Cash at bank and in hand54/58 | €3,269 | €2,643 | €7,480 | €14,515 | €4,817 | €16,519 | €1,537 | €10,516 | ▲ 584% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €39,824 | €27,856 | €16,480 | €14,925 | €16,312 | €21,019 | €13,877 | €29,949 | ▲ 116% |
| Equity10/15 | €17,833 | €12,608 | €13,059 | €14,169 | €15,108 | €19,370 | €13,794 | €26,323 | ▲ 90.8% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Profit (loss) carried forward14 | -€767 | -€5,992 | -€5,541 | -€4,431 | -€3,492 | €770 | -€4,806 | €7,723 | - |
| Amounts payable17/49 | €21,991 | €15,248 | €3,421 | €756 | €1,204 | €1,649 | €83 | €3,626 | ▲ 44× |
| Amounts payable after more than one year17 | €20,928 | €14,861 | - | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €1,063 | €387 | €3,421 | €756 | €1,204 | €1,649 | €83 | €3,626 | ▲ 44× |
| Trade debts44 | €312 | - | €619 | €756 | €173 | - | €83 | €2,055 | ▲ 25× |
| Suppliers440/4 | - | - | - | €756 | €173 | - | €83 | €2,055 | ▲ 25× |
| Taxes, remuneration and social security45 | - | - | - | - | €1,031 | €1,649 | - | €1,571 | - |
| Taxes450/3 | - | - | - | - | €1,031 | €1,649 | - | €1,571 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€767 | -€5,225 | €451 | €1,110 | €939 | €4,262 | -€5,576 | €12,529 | - |
| + Depreciation and write-downs630 | €7,511 | €7,511 | €3,685 | - | - | - | - | - | - |
| Operating cash flow (approximation) | €6,744 | €2,286 | €4,136 | €1,110 | €939 | €4,262 | -€5,576 | €12,529 | - |
| Investment in fixed assets (approximation) | - | €0 | €11,477 | - | - | - | - | - | - |
| Change in cash | - | -€626 | €4,837 | €7,035 | -€9,698 | €11,702 | -€14,982 | €8,979 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 26,972 companies had the same profile as MSMT has now. Two years later, 94.9% were still going and 1.6% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of MSMT itself is lower: < 0.1% within 12 months. It rests on far more data about MSMT than the profile alone.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 26,972 companies, not a prediction for MSMT. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Filings with the National Bank (8)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2026 | micro format | 30-10-2026 | 2026-00597101 | |
| 31-03-2025 | micro format | 11-08-2025 | 2025-00370114 | |
| 31-03-2024 | micro format | 02-04-2024 | 2024-00056436 | |
| 31-03-2023 | micro format | 05-10-2023 | 2023-00475350 | |
| 31-03-2022 | micro format | 08-05-2022 | 2022-20024187 | |
| 31-03-2021 | micro format | 17-09-2021 | 2021-67500330 | |
| 31-03-2020 | micro format | 05-11-2020 | 2020-68600448 | |
| 31-03-2019 | micro format | 21-06-2019 | 2019-21000322 |
Board & ownership
Directors
Owners and capital
Shareholders
- Muharrem TASPINAR 100 shares
- Mustafa Emre TASPINAR to Muharrem TASPINAR
Capital transactions
- 16-11-2023 Converted to unavailable equity · €18,600
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Mustafa Emre TASPINAR |
|
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “1, nommés avec ou sans limitation de durée”“Rémunération des administrateurs, fixe ou proportionnelle”
- Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
- “Moitié cédant moitié acquéreurs proportionnellement nombre acquis s’ils sont plusieurs, tous cas cessions entre vifs onéreux gratuit…”
Articles of association, deed of 16-11-2023 (in French)
Network & group
Companies at the same address
5 other companiesConnections & network
See the function holders in the KBO register.
Timeline
Acts, filings and financial milestones
02-08
Gazette deed
Resignation: Mustafa Emre TASPINAR (director)Director discharge · Share transfer · Shareholding5 points ▸
- General meeting, 19-07-2024
- Director resignation, Mustafa Emre TASPINAR (director)
- Director discharge, Mustafa Emre TASPINAR
- Share transfer, Mustafa Emre TASPINAR → Muharrem TASPINAR
- Muharrem TASPINAR holds 100 shares
16-11
Gazette deed
Amendment of the articles · Legal-form change · Resignations & appointmentsLegal form clause · Capital conversion · Kind of shares9 points ▸
- General meeting, 09-11-2023
- Legal form clause, “forme légale du Code des sociétés et des associations qui se rapproche le plus de sa forme actuelle, société à responsabilité limitée” (deed in French)
- Capital conversion, “compte de capitaux propres statutairement indisponible” (deed in French)
- Other provision, “limitation compte de capitaux propres statutairement indisponible”, 18600 (deed in French)
- Amendment of the articles
- Kind of shares, “droit égal dans répartition bénéfices et produits liquidation, rémunération des apports” (deed in French)
- Board composition, TASPINAR Muharrem (director)
- Board composition, TASPINAR Mustafa Emre (director)
- Power of attorney, mentioned 2 times in the deed
Show earlier events
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
40 activities
- Le transport de marchandises de plus de 500 Kg national et international
- Le courrier express
- Autres activités de poste et de courrier
- Levée,acheminement et distribution de lettres,colis et paquets par des entreprises autres que l'administration postale nationale.Il peut être fait appel à un seul ou à plusieurs modes de transport.
- Support de service logistique
- Manutention autre que portuaire
- Transports routiers de fret,sauf services de déménagement
- Services de déménagement
- Services auxiliaires des transports terrestres
- Autres services auxiliaires des transports
- Gardemeubles
- Livraison de meubles et équipements ménagers
- Location et location-bail d'automobiles et d'autres véhicules automobiles légers(<3,5 tonnes)
- Le transport de personnes national et international
- La location de voitures et camionnette avec et sans chauffeur
- Télécommunications filaires
- Télécommunications sans fil
- Intermédiaires spécialisés dans le commerce d'autres produits spécifiques
- Autres activités de télécommunication
- Conseil pour les affaires et autres conseils de gestion
- Autres activités auxiliaires de services financiers n.c.a.,hors assurance et caisses de retraite
- Conseil en relations publiques et en communication
- Consultant en informatique
- La fourniture de conseil IT,l'analyse et la programmation.
- Autres services dans le domaine des technologies de l'information et informatique
- Le développement et l'édition de technologies logicielles
- Le développement et la commercialisation de matériel et d’applications informatiques de tous types
- L’achat,la vente,la distribution,l’importation,l’exportation ainsi que la vente sur les marchés et les voies publics ou privés de véhicules à moteurs neufs ou d’occasions,de pièces détachées,et accessoires de véhicules à moteurs
- Les activités d'étude,de formation,d'organisation et de services de consultation ayant trait à la fonction automatisation à tous les niveaux,de l'analyse et conception de systèmes,analyse et conception de logiciels,développement de logiciels,mise en œuvre et la maintenance des applications logicielles,des télécommunications,du traitement de l'information et agence de service pour matériel tiers et du personnel de logiciels,publier des articles sur le matériel et logiciels
- Le commerce et le développement de l'informatique
- La conception,l'élaboration,la fabrication et la personnalisation de sites web,conception de sites Web,et l'exécution de toutes activités liées à l’internet,les activités des intégrateurs de systèmes
- Le développement,l'installation et le test de réseaux de données,de tous les types de programmes,d’analyse et installation des systèmes,le fonctionnement des ordinateurs et la formation des gens
- Édition de jeux électroniques
- Travaux d'installation électrique
- Réparation d'ordinateurs et d'équipements périphériques
- Activités de photographes,à l'exception des photographes de presse
- Commerce de détail d'ordinateurs,de périphériques et de logiciels
- L’achat,la vente,la location,la prise à bail,la restauration,la transformation d’immeubles bâtis ou non bâtis,à titre principal ou comme intermédiaire
- L’achat,la vente,la distribution,l’importation,l’exportation,la fabrication,la conception,la transformation,la location,la commercialisation,le courtage,en gros et en détail,ainsi que la vente sur les marchés et les voies publics ou privés de:music-casettes et de vidéo cassette enregistrées ou non;de châssis,de volets,de vérandas,de fenêtre,de portes en bois,en aluminium,en PVC ou en toutes autres matières;produits de poterie industrielle ou artisanale,de porcelaine industrielle ou artisanale,des articles de cadeaux,et divers;produits du tabac,de l’industrie du bois,du papier,de l’imprimerie,de céramique,de l’industrie verrière et de la construction;tous produits d’alimentation générale,volaille,gibier abattu,produits de la boulangerie,pâtisserie,confiserie,fruits et légumes,de produits laitiers;tous produits en textiles et en cuirs de vêtements neufs ou usagés pour dames,hommes et enfants;chaussures pour dames,hommes et enfants et de tous produits de maroquinerie et de cuirs;produits et matériels de jouets ou d’imprimeries;de produits et de matériels neufs ou occasions:d’industriel,de génie civil,de construction,de transformation et de décoration intérieure d’immeubles,d’électrique,d’électronique,d’informatique,de téléphonique,de télématique,de télécommunication,d’électroménager,d’électromécanique,de sanitaire,de chauffage centrale,de faux plafond,d’isolation,de peinture industrielle,de communication,d’antenne parabole,de mécanique,de robotique,de domotique,de jouets,d’imprimeries,d’articles de cadeaux,de porcelaine,de verrerie,de tapis plain,de vinyl,de papiers à tapisser,de meubles et de tous biens ou marchandises dont le marché n’est pas actuellement réglementé;Exploitation de centrales téléphonique,internet
- L’acquisition,la création,l’aménagement,l’agencement,l’installation,l’achat,la vente,la location,la gestion,la gérance,l’exploitation pour compte propre,pour compte d’autrui,par et avec autrui des établissements tels que:boulangerie,restaurant,hôtel,motel,taverne,brasserie,friture,snack,débits de boissons,dancing,bar,club privé,snackbar,locaux et salon de consommation,traiteurs,salle de spectacles,énumération exemplative et non limitative,ainsi que toutes activités relatives à la fourniture de tout produit et services de quelque nature que ce soit en rapport direct ou indirect avec l’activité mentionnée,et plus généralement toutes activités de secteur HORECA dans le sens le plus large
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21572B0582/00S007 | Brussels | 256 m² | 1 · 256 m² | 18.8 m · 5 |