MSPA
ActiveThe computed 12-month bankruptcy probability of MSPA is 3.0% (moderate). The 2025 annual accounts show negative equity (€-13k) and a net result of €0. Equity is shrinking by ~22.7% per year across the filed fiscal years. Its solvency ranks better than 11% of 13270 sector peers (fiscal year 2025). The company has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
26
/ 100
Weak
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability38▲+38
Solvency0=
Growth32=
Track record100
Bankruptcy probability, 12 months
3.0%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.52 against 0.52 in 2024; short-term debt: 187.6% and cash: 3.8% of total assets), and equity is negative.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 56
Relative position
BE, all sectors
reference
Sector 56
higher
← 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
-87.6%
Return on assets
0%
Age of the figures
9 mo
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 11% of 13270 sector peers (2025).
NBB · sector comparisonPosition among 13270 sector peers
Solvency
better than 11%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-08-2026, 30 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 8 filingsDeviation from the deadline
2025
30 d late
2024
30 d late
2023
30 d late
2022
30 d late
2021
31 d late
2020
30 d late
2019
90 d late
← before the deadline
after the deadline →
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
21-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€-13k=
2024 · €-13k
2018: €41k
2019: €45k
2020: €50k
2021: €67k
2022: €41k
2023: €11k
2024: €-13k
2018 → 2025
Total assets
€15k=
2024 · €15k
2018: €114k
2019: €107k
2020: €100k
2021: €117k
2022: €81k
2023: €36k
2024: €15k
2018 → 2025
Net result
€0
2024 · €-24k
2018: €23k
2019: €4k
2020: €5k
2021: €17k
2022: €-26k
2023: €-30k
2024: €-24k
2018 → 2025
Working capital
€-13k=
2024 · €-13k
2018: €40k
2019: €24k
2020: €25k
2021: €39k
2022: €11k
2023: €-19k
2024: €-13k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€67k-€41k▼ 39.0%€11k▼ 72.2%€-13k€-13k=
Operating result€19k-€-25k€-29k▼ 17.1%€-23k▲ 18.9%€0
Net result€17k-€-26k€-30k▼ 13.1%€-24k▲ 17.9%€0
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result is zero in 2025, compared with €-23k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €15k
Fixed assets
€253=
Current assets
€14k=
Key figures and ratios
Solvency
-87.6%=
2024 · -87.6%
Current ratio
0.52=
2024 · 0.52
Quick ratio
0.52=
2024 · 0.52
Debt / equity
-2.14=
2024 · -2.14
ROA
0.0%▲
2024 · -165.2%
Debt
€28k=
2024 · €28k
Debt ≤ 1 year
€28k=
2024 · €28k
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 · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€15k€15k=
Fixed assets21/28€253€253=
Financial fixed assets28€253€253=
Current assets29/58€14k€14k=
Amounts receivable within one year40/41€14k€14k=
Trade receivables40€14k€14k=
Cash at bank and in hand54/58€559€559=
Equity and liabilities
Total equity and liabilities10/49€15k€15k=
Equity10/15€-13k€-13k=
Contributions10/11€19k€19k=
Reserves13€35k€35k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€33k€33k=
Profit (loss) carried forward14€-66k€-66k=
Amounts payable17/49€28k€28k=
Amounts payable within one year42/48€28k€28k=
Current portion of amounts payable after more than one year42€12k€12k=
Trade debts44€2k€2k=
Suppliers440/4€2k€2k=
Taxes, remuneration and social security45€3k€3k=
Taxes450/3€2k€2k=
Remuneration and social security454/9€75€75=
Other amounts payable47/48€11k€11k=
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€27-
Other operating charges640/8€166-
Non-recurring operating charges66A€35k-
Gross operating margin9900€12k€0▼
Operating profit (loss)9901€-23k€0▲
Financial charges65/66B€808-
Recurring financial charges65€808-
Profit (loss) for the period before taxes9903€-24k€0▲
Profit (loss) for the period9904€-24k€0▲
Profit (loss) for the period to be appropriated9905€-24k€0▲
Appropriation of the result
Profit (loss) to be appropriated9906€-66k€-66k=
Profit (loss) brought forward from the previous period14P€-42k€-66k▼
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
30-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 30 days late
2025
30-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 30 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
31-12
Financial
Weakest financial yearnet €-30k
Net result drops to €-30k, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
29-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 90 days late
2019
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 28 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 act for this company is 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, Genappe · 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.
Avenue des Combattants 801470 GenappeGround area
347 m²
Building footprint
151 m²
Volume, LiDAR
1,242 m³
Parcel 25013E0276/00P000, Wallonia · tallest building 10.6 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
L'Enquête du goût
since 20182.274.512.616
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25013E0276/00P000 | Wallonia | 347 m² | 1 · 151 m² | 10.6 m · 3 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.
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Gantoise Horeca
BE 0805.073.373
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J.T RestoMeat
BE 0480.371.120
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ROMA
BE 0425.060.631
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Of 20,495 companies in sector 56111 we hold annual accounts for 11,458. 7,448 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded26-02-2018
Fiscal year end31-12
Activities, NACEBEL
56101Full-service restaurants
56111Full-service restaurants
56210Event catering
Sources
Crossroads Bank for EnterprisesNational Bank · 8 filingsAddress and cadastre registers
Data from official sources, last processed on 20-09-2026. Scores and ratios are computed by Checked and are not a credit decision.