MSTD
Annual accounts 2025
micro format, filed on 20-01-2026, 11 days before the deadlineTurnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €120,000. Estimated: probably between €66,000 and €250,000.
Balance sheet
balance sheet total €299,149 on 30-06-2025in euro
in euro
Position in the sector
27.0%
Higher than 48% of 17,190 companies in 2025.
1.14
Higher than 50% of 16,487 companies in 2025.
7.5%
Higher than 71% of 16,866 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||
20/58 |
299,149 | 277,141 | 84,359 | 100,033 | 95,284 | 98,810 | 32,550 | |
21/28 |
245,981 | 249,411 | 35,352 | 39,550 | 45,200 | 50,850 | - | |
22/27 |
245,890 | 249,320 | 35,352 | 39,550 | 45,200 | 50,850 | - | |
22 |
242,586 | 248,236 | 33,900 | 39,550 | 45,200 | 50,850 | - | |
23 |
2,588 | - | - | - | - | - | - | |
24 |
716 | 1,084 | 1,452 | - | - | - | - | |
28 |
91 | 91 | - | - | - | - | - | |
29/58 |
53,168 | 27,730 | 49,007 | 60,483 | 50,084 | 47,960 | 32,550 | |
3 |
2,950 | 3,350 | 3,500 | 5,150 | 2,900 | 2,750 | - | |
30/36 |
2,950 | 3,350 | 3,500 | 625 | 375 | - | - | |
37 |
- | - | - | 4,525 | 2,525 | 2,750 | - | |
40/41 |
4,339 | 3,674 | 1,065 | 3,314 | 6,054 | 25,097 | 2,739 | |
40 |
669 | - | - | 2,906 | 5,836 | 19,738 | 678 | |
41 |
3,670 | 3,674 | 1,065 | 408 | 218 | 5,358 | 2,060 | |
54/58 |
35,732 | 10,558 | 44,442 | 52,019 | 41,131 | 20,113 | 29,811 | |
490/1 |
10,148 | 10,148 | - | - | - | - | - | |
| Balance sheet: equity and liabilities | ||||||||
10/49 |
299,149 | 277,141 | 84,359 | 100,033 | 95,284 | 98,810 | 32,550 | |
10/15 |
80,671 | 67,727 | 46,765 | 40,416 | 35,728 | 34,628 | 31,626 | |
10/11 |
20,000 | 20,000 | 20,000 | 12,500 | 12,500 | - | 12,500 | |
100 |
- | - | - | - | - | - | 20,000 | |
101 |
- | - | - | - | - | - | 7,500 | |
11 |
- | - | - | - | - | 12,500 | - | |
1100/10 |
- | - | - | - | - | 12,500 | - | |
13 |
19,126 | 19,126 | 19,126 | 19,126 | 19,126 | 19,126 | 19,126 | |
130/1 |
- | - | 956 | 956 | 956 | 956 | - | |
130 |
- | - | - | - | - | - | 956 | |
1311 |
- | - | 956 | 956 | 956 | - | - | |
1319 |
- | - | - | - | - | 956 | - | |
133 |
19,126 | 19,126 | 18,170 | 18,170 | 18,170 | 18,170 | 18,170 | |
14 |
41,545 | 28,601 | 7,639 | 8,790 | 4,102 | 3,002 | - | |
17/49 |
218,479 | 209,414 | 37,594 | 59,617 | 59,556 | 64,182 | 924 | |
17 |
172,017 | 187,180 | 30,735 | 36,304 | 41,842 | 47,347 | - | |
170/4 |
172,017 | 187,180 | 30,735 | 36,304 | 41,842 | 47,347 | - | |
42/48 |
46,462 | 22,234 | 6,859 | 17,783 | 17,714 | 16,835 | 924 | |
42 |
15,163 | 14,809 | 5,569 | 5,538 | 5,506 | 5,474 | - | |
44 |
15,234 | 1,875 | 801 | 5,443 | 5,406 | 4,558 | 924 | |
440/4 |
15,234 | 1,875 | 801 | 5,443 | 5,406 | 4,558 | 924 | |
45 |
8,065 | 5,550 | 489 | - | - | - | - | |
450/3 |
8,065 | 5,550 | 489 | - | - | - | - | |
47/48 |
8,000 | - | - | 6,803 | 6,803 | 6,803 | - | |
492/3 |
- | - | - | 5,530 | - | - | - | |
| Income statement | ||||||||
9900 |
43,865 | 37,432 | 6,850 | 11,806 | 8,321 | 13,483 | 20,117 | |
62 |
2,010 | - | - | - | - | - | 695 | |
630 |
6,382 | 6,018 | 5,669 | 5,650 | 5,650 | 5,650 | - | |
640/8 |
774 | 795 | 479 | 590 | 119 | - | 497 | |
9901 |
34,699 | 30,619 | 702 | 5,566 | 2,551 | 7,833 | 18,925 | |
75/76B |
6 | - | 177 | 36 | - | 88 | 229 | |
75 |
6 | - | 177 | 36 | - | 88 | 229 | |
65/66B |
5,949 | 3,262 | 275 | 304 | 336 | 844 | 28 | |
65 |
5,949 | 3,262 | 275 | 304 | 336 | 844 | 28 | |
9903 |
28,757 | 27,357 | 604 | 5,298 | 2,216 | 7,077 | 19,126 | |
67/77 |
6,402 | 6,395 | 1,755 | 611 | 1,115 | 4,076 | - | |
9904 |
22,355 | 20,963 | -1,151 | 4,688 | 1,100 | 3,002 | 19,126 | |
9905 |
22,355 | 20,963 | -1,151 | 4,688 | 1,100 | 3,002 | 19,126 | |
| Appropriation of the result | ||||||||
9906 |
50,957 | 28,601 | 7,639 | 8,790 | 4,102 | 3,002 | 19,126 | |
14P |
28,601 | 7,639 | 8,790 | 4,102 | - | - | - | |
691/2 |
- | - | - | - | - | - | 19,126 | |
6920 |
- | - | - | - | - | - | 956 | |
6921 |
- | - | - | - | - | - | 18,170 | |
694/7 |
9,412 | - | - | - | - | - | - | |
694 |
9,412 | - | - | - | - | - | - | |
| Document | ||||||||
The notes to these accounts have 7 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 20-01-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 20-01-2026 | 2026-00012013 | |
| 30-06-2024 | micro format | 23-01-2025 | 2025-00008558 | |
| 30-06-2023 | micro format | 23-01-2024 | 2024-00004761 | |
| 30-06-2022 | micro format | 25-01-2023 | 2023-00006998 | |
| 30-06-2021 | micro format | 17-01-2022 | 2022-01100419 | |
| 30-06-2020 | micro format | 29-01-2021 | 2021-03600296 | |
| 30-06-2019 | micro format | 29-01-2020 | 2020-03700330 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| 41,081 | 36,637 | 6,371 | 11,216 | 8,201 | 13,483 | - | ||
| 28,737 | 26,980 | 4,518 | 10,338 | 6,750 | 8,652 | - | ||
| 2,952 | 220,077 | 1,471 | 0 | 0 | 56,500 | - | ||
| 25,173 | -33,884 | -7,576 | 10,888 | 21,017 | -9,697 | - | ||
| 6,706 | 5,496 | 42,148 | 42,700 | 32,370 | 31,125 | 31,626 | ||
| 27.0% | 24.4% | 55.4% | 40.4% | 37.5% | 35.0% | 97.2% | ||
| 1.14 | 1.25 | 7.14 | 3.40 | 2.83 | 2.85 | 35.23 | ||
| 1.08 | 1.10 | 6.63 | 3.11 | 2.66 | 2.69 | 35.23 | ||
| 2.71 | 3.09 | 0.80 | 1.48 | 1.67 | 1.85 | 0.03 | ||
| 27.7% | 31.0% | -2.5% | 11.6% | 3.1% | 8.7% | 60.5% | ||
| 7.5% | 7.6% | -1.4% | 4.7% | 1.2% | 3.0% | 58.8% | ||
| 6.91 | 11.23 | 23.15 | 36.89 | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Investments
fixed assets acquired| Item | 30-06-2025 | 30-06-2024 | 30-06-2023 | 30-06-2022 |
|---|---|---|---|---|
| Tangible fixed assets | €2,952 | €219,986 | €1,471 | - |
| Financial fixed assets | - | €91 | - | - |
| €6,382 | €6,018 | €5,669 | €5,650 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Insights on MSTD
The operating result for 2025 is 13% higher than in 2024 and the highest since 2019. It is the second rise in a row, after the fall in 2023.
Debt's share of the balance-sheet total falls from 75.6% to 73.0%. Equity and debt are higher.