MSQ
ActiveSummary
MSQ has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €1.5m and a net result of €430,123. Equity is growing by ~23.6% per year across the filed fiscal years. Its solvency ranks better than 83% of 37951 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability100=
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €120,000 at 30 days acceptable
Liquidity ample (current ratio 7.02 against 5.98 in 2023; short-term debt: 14.2% and cash: 2.5% of total assets), and 14.2% of the assets are financed with debt.
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Signals
Four 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 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
85.8%
Return on assets
24.9%
Age of the figures
21 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
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 01-07-2025, 30 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
not confirmed
2024
30 d early
2023
33 d early
2022
28 d early
2021
30 d early
2020
36 d early
2019
32 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 32 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€1.5m▲ 18.4%
2023 · €1.3m
Total assets
€1.7m▲ 14.9%
2023 · €1.5m
Net result
€430,123▼ 2.5%
2023 · €441,136
Working capital
€1.5m▲ 18.3%
2023 · €1.3m
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€409,303▼ 8.3%€416,414▲ 1.7%€490,844▲ 17.9%€559,672▲ 14.0%€474,966▼ 15.1%
Net result€290,255▼ 9.5%€321,215▲ 10.7%€380,821▲ 18.6%€441,136▲ 15.8%€430,123▼ 2.5%
Equity€617,101▲ 88.8%€938,316▲ 52.1%€1.0m▲ 8.6%€1.3m▲ 23.1%€1.5m▲ 18.4%
Total assets€789,366▲ 82.2%€1.1m▲ 34.7%€1.4m▲ 28.3%€1.5m▲ 10.4%€1.7m▲ 14.9%
Debt€172,265▲ 62.0%€125,094▼ 27.4%€344,799▲ 176%€251,575▼ 27.0%€246,167▼ 2.1%
Working capital€591,446▲ 102%€921,490▲ 55.8%€1.0m▲ 9.6%€1.3m▲ 23.9%€1.5m▲ 18.3%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 15% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.7m
Fixed assets
€3,221 ▲ 16.0%
Current assets
€1.7m ▲ 14.9%
Equity and liabilities €1.7m
Equity
€1.5m ▲ 18.4%
Debt
€246,167 ▼ 2.1%
Debt's share of the balance-sheet total falls from 16.7% to 14.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€475,537▼
2023 · €568,505
Cash flow
€430,694▼
2023 · €449,969
Current ratio
7.02▲
2023 · 5.98
Debt to equity
0.17▼
2023 · 0.20
ROE
29.0%▼
2023 · 35.2%
ROA
24.9%▼
2023 · 29.3%
Interest coverage
266.30▼
2023 · 18762.53
Debt ≤ 1 year
€246,167▼
2023 · €251,489
Income taxes
€121,975▼
2023 · €142,014
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,720 | €8,720 | €8,720 | €8,833 | €571 | ▼ 93.5% |
| Other operating charges640/8 | - | €641 | €1,211 | €1,323 | €1,495 | ▲ 13.0% |
| Gross operating margin9900 | €418,410 | €425,774 | €500,775 | €569,827 | €477,031 | ▼ 16.3% |
| Operating profit (loss)9901 | €409,303 | €416,414 | €490,844 | €559,672 | €474,966 | ▼ 15.1% |
| Financial income75/76B | - | €3,820 | €9,516 | €23,509 | €78,917 | ▲ 236% |
| Recurring financial income75 | €9,609 | €3,820 | €9,516 | €23,509 | €78,917 | ▲ 236% |
| Financial charges65/66B | - | €42 | €147 | €30 | €1,786 | ▲ 5,793% |
| Recurring financial charges65 | €29,900 | €42 | €147 | €30 | €1,786 | ▲ 5,793% |
| Profit (loss) for the period before taxes9903 | €389,011 | €420,191 | €500,213 | €583,151 | €552,097 | ▼ 5.3% |
| Income taxes67/77 | €98,756 | €98,976 | €119,392 | €142,014 | €121,975 | ▼ 14.1% |
| Profit (loss) for the period9904 | €290,255 | €321,215 | €380,821 | €441,136 | €430,123 | ▼ 2.5% |
| Transfer from tax-exempt reserves789 | - | - | - | €160,200 | €0 | ▼ 100% |
| Profit (loss) for the period to be appropriated9905 | €290,255 | €321,215 | €380,821 | €601,336 | €430,123 | ▼ 28.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €789,366 | €1.1m | €1.4m | €1.5m | €1.7m | ▲ 14.9% |
| Fixed assets21/28 | €26,405 | €17,685 | €8,966 | €2,776 | €3,221 | ▲ 16.0% |
| Tangible fixed assets22/27 | €26,159 | €17,439 | €8,720 | €2,530 | €2,975 | ▲ 17.6% |
| Furniture and vehicles24 | - | €17,439 | €8,720 | €2,530 | €2,975 | ▲ 17.6% |
| Financial fixed assets28 | €246 | €246 | €246 | €246 | €246 | = |
| Current assets29/58 | €762,962 | €1.0m | €1.4m | €1.5m | €1.7m | ▲ 14.9% |
| Amounts receivable within one year40/41 | €9,680 | €37,528 | €84,563 | €2,729 | €50,931 | ▲ 1,766% |
| Trade receivables40 | - | €37,528 | €84,563 | €2,729 | €50,931 | ▲ 1,766% |
| Current investments50/53 | €150,000 | €302,377 | €309,038 | €1.2m | €1.6m | ▲ 34.5% |
| Cash at bank and in hand54/58 | €599,912 | €704,821 | €960,385 | €266,020 | €43,406 | ▼ 83.7% |
| Deferred charges and accrued income490/1 | - | €999 | €984 | €23,338 | €4,009 | ▼ 82.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €789,366 | €1.1m | €1.4m | €1.5m | €1.7m | ▲ 14.9% |
| Equity10/15 | €617,101 | €938,316 | €1.0m | €1.3m | €1.5m | ▲ 18.4% |
| Contributions10/11 | - | €6,200 | €6,200 | €0 | - | - |
| Reserves13 | €162,060 | €162,060 | €162,060 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Tax-exempt reserves132 | - | €160,200 | €160,200 | €0 | - | - |
| Profit (loss) carried forward14 | €448,841 | €770,056 | €850,877 | €1.3m | €1.5m | ▲ 18.4% |
| Amounts payable17/49 | €172,265 | €125,094 | €344,799 | €251,575 | €246,167 | ▼ 2.1% |
| Amounts payable within one year42/48 | €171,515 | €124,235 | €344,786 | €251,489 | €246,167 | ▼ 2.1% |
| Trade debts44 | €584 | €1,125 | €1,415 | €3,498 | €7,789 | ▲ 123% |
| Suppliers440/4 | - | €1,125 | €1,415 | €3,498 | €7,789 | ▲ 123% |
| Taxes, remuneration and social security45 | - | €123,110 | €42,596 | €47,983 | €37,555 | ▼ 21.7% |
| Taxes450/3 | - | €122,082 | €41,727 | €42,718 | €33,817 | ▼ 20.8% |
| Remuneration and social security454/9 | - | €1,028 | €869 | €5,266 | €3,738 | ▼ 29.0% |
| Other amounts payable47/48 | - | - | €300,775 | €200,008 | €200,823 | ▲ 0.4% |
| Accrued charges and deferred income492/3 | - | €860 | €12 | €86 | €0 | ▼ 100% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €290,255 | €321,215 | €380,821 | €441,136 | €430,123 | ▼ 2.5% |
| + Depreciation and write-downs630 | €8,720 | €8,720 | €8,720 | €8,833 | €571 | ▼ 93.5% |
| Operating cash flow (approximation) | €298,975 | €329,935 | €389,540 | €449,969 | €430,694 | ▼ 4.3% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€2,644 | -€1,016 | ▲ 61.6% |
| Change in cash | - | €104,909 | €255,564 | -€694,365 | -€222,614 | ▲ 67.9% |
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
2025
01-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
28-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2019net €441,136 ▲15.8%
Operating result €559,672, net result €441,136, both a record.
03-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Equity above €1mEq €1.0m ▲8.6%
4 profitable years in a row build equity to €1.0m.
01-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
16-11
State Gazette act
Board meeting · Board composition
Permanent representative · Demerger
25-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Weakest financial yearnet €290,255 ▼9.5%
Net result drops to €290,255, the lowest in the series; recovery starts the following year.
31-12
Financial
Equity above €500,000Eq €617,101 ▲88.8%
2 profitable years in a row build equity to €617,101.
29-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
25-02
State Gazette act
Board meeting · Demerger
Capital decrease · Capital increase
2019
11-07
State Gazette act
General meeting · Director reappointment
Director resignation · Director appointment
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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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, Hoeilaart · 1 establishment unit since 2018
Ground area
1,053 m²
Building footprint
206 m²
Volume, LiDAR
1,021 m³
Parcel 23033A0033/00F004, Flanders · tallest building 7.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Tentrappenstraat 33, 1560 Hoeilaart
since 20182.278.125.469
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23033A0033/00F004 | Flanders | 1,053 m² | 1 · 206 m² | 7.4 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Connections & network
The group is listed under Ownership & control below; here you explore it as a network.
This company
Company
Director
Shareholding
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Ownership & control
1 board mandateBoard mandates of this companythis company sits on their board1
3 locations
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Of 82,642 companies in sector 70200 we hold annual accounts for 52,590. 23,470 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
Founded26-07-2018
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0700413046
Also
9925:BE0700413046
Registered
27-10-2025
Register as of 26 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.