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MSTO

Active
Private limited companyfounded 20223 yrs activeRue les Oies 60, 4052 Chaudfontaine, BelgiumKBO/BCE: BE 0793.225.814
Summary

MSTO has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €92,039 and a net result of €82,240. Equity is growing by ~51.3% per year across the filed fiscal years. Its solvency ranks better than 81% of 19923 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▲+3
Growth78=
Track record94
Bankruptcy probability, 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €8,000 at 30 days acceptable
Liquidity ample (current ratio 9.44 against 3.38 in 2023; short-term debt: 8.6% and cash: 56.8% of total assets), and 10.6% 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 86
Relative position
BE, all sectors
reference
Human health activities (NACE 86)
about 87% fewer bankruptcies
← fewer bankruptcies more bankruptcies →
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 date
Age against the risk zone
highest failure risk from 2 to 8 years 3 years 0 10 y
raises risk · Higher-failure-rate region
In this region companies fail more often than in the rest of the country.
KBO · registered office
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 01-05-2025, 91 days ahead of the deadline.
NBB · 3 filings
Deviation from the deadline
2025
not confirmed
2024
91 d early
2023
6 d early
2022
75 d early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 3 accounts on average 57 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 (1)
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

MSTO was incorporated on 3 November 2022 as a Private limited company.1 Total assets rose from EUR 42,423 in 2022 to EUR 102,966 in 2024.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2022 and 2024

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Financials · fiscal year 2024, micro schema

Equity
€92,039▲ 25.1%
2023 · €73,549
Total assets
€102,966▲ 1.5%
2023 · €101,466
Net result
€82,240▲ 44.5%
2023 · €56,899
Working capital
€74,797▲ 30.9%
2023 · €57,134
Trend over the years

Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 86, Human health 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
Line202220232024
Operating result€17,205-€72,591▲ 322%€105,177▲ 44.9%
Net result€13,650below the sector's middle half-€56,899within the sector's middle half▲ 317%€82,240within the sector's middle half▲ 44.5%
Equity€16,650below the sector's middle half-€73,549within the sector's middle half▲ 342%€92,039within the sector's middle half▲ 25.1%
Total assets€42,423below the sector's middle half-€101,466below the sector's middle half▲ 139%€102,966below the sector's middle half▲ 1.5%
Debt€25,773-€27,918▲ 8.3%€10,927▼ 60.9%
Working capital-€2,726below the sector's middle half-€57,134within the sector's middle half€74,797within the sector's middle half▲ 30.9%
Solvency39.2%within the sector's middle half-72.5%within the sector's middle half▲ 33.2pp89.4%above the sector's middle half▲ 16.9pp
Current ratio0.88below the sector's middle half-3.38within the sector's middle half▲ 2.499.44above the sector's middle half▲ 6.06
Return on assets (ROA)32.2%above the sector's middle half-56.1%above the sector's middle half▲ 23.9pp79.9%above the sector's middle half▲ 23.8pp
above within below the middle half (P25 to P75) of NACE 86, Human health 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
€0€50,000€100,000Operating result 2022: €17,205€17,205Net result 2022: €13,650€13,650Operating result 2023: €72,591€72,591Net result 2023: €56,899€56,899Operating result 2024: €105,177€105,177Net result 2024: €82,240€82,240202220232024€0€50,000€100,000Operating result 2022: €17,205€17,200Net result 2022: €13,650€13,700Operating result 2023: €72,591€72,600Net result 2023: €56,899€56,900Operating result 2024: €105,177€105,000Net result 2024: €82,240€82,200202220232024
The operating result has risen two years in a row; 2024 is 45% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €102,966
Fixed assets €19,303 ▼ 4.9%
Current assets €83,663 ▲ 3.1%
Equity and liabilities €102,966
Equity €92,039 ▲ 25.1%
Debt €10,927 ▼ 60.9%
Debt's share of the balance-sheet total falls from 27.5% to 10.6%. Equity is higher and debt is lower.
Key figures and ratios
2024 value · change against 2023
EBITDA
€113,225▲
2023 · €79,077
Cash flow
€90,288▲
2023 · €63,385
Debt to equity
0.12▼
2023 · 0.38
ROE
89.4%▲
2023 · 77.4%
Interest coverage
805.87
Debt ≤ 1 year
€8,867▼
2023 · €24,038
Income taxes
€22,796▲
2023 · €15,692
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 39,278 companies that looked in July 2024 the way this one looks now, 1.8% went bankrupt within 24 months and 96% are still going.

  • Micro
  • 2 to 5 years old
  • solvency 30% or more
  • a profit of 5% of the balance sheet or more
1.8% went bankrupt
2.3% stopped otherwise
96% still going

A further 0.1% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a lower bankruptcy probability: 0.2% 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 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.

The companies in ten equal groups, from lowest to highest expected share.
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% 1.0%
6 1.3% 1.5%
7 1.6% 1.8%
8 1.8% 1.9%
9 3.0% 3.1%
10 5.6% 6.2%

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 39,278 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
Filed annual accounts As filed with the NBB · 2024 against 2023 · 37 lines
Balance sheet Code20232024
Assets
Total assets20/58€101,466€102,966▲
Fixed assets21/28€20,294€19,303▼
Tangible fixed assets22/27€20,294€19,303▼
Plant, machinery and equipment23€6,127€10,136▲
Furniture and vehicles24€14,167€9,167▼
Current assets29/58€81,173€83,663▲
Cash at bank and in hand54/58€56,229€58,460▲
Deferred charges and accrued income490/1€24,944€25,203▲
Equity and liabilities
Total equity and liabilities10/49€101,466€102,966▲
Equity10/15€73,549€92,039▲
Contributions10/11€3,000€3,000=
Reserves13€70,000€89,000▲
Distributable reserves133€70,000€89,000▲
Profit (loss) carried forward14€549€39▼
Amounts payable17/49€27,918€10,927▼
Amounts payable within one year42/48€24,038€8,867▼
Taxes, remuneration and social security45€3,992€5,096▲
Taxes450/3€3,992€5,096▲
Other amounts payable47/48€20,046€3,771▼
Accrued charges and deferred income492/3€3,879€2,060▼
Income statement Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€6,486€8,048▲
Other operating charges640/8€1,849€511▼
Gross operating margin9900€80,926€113,736▲
Operating profit (loss)9901€72,591€105,177▲
Financial charges65/66B-€141
Recurring financial charges65-€141
Profit (loss) for the period before taxes9903€72,591€105,036▲
Income taxes67/77€15,692€22,796▲
Profit (loss) for the period9904€56,899€82,240▲
Profit (loss) for the period to be appropriated9905€56,899€82,240▲
Appropriation of the result
Profit (loss) to be appropriated9906€57,549€82,789▲
Profit (loss) brought forward from the previous period14P€650€549▼
Transfer from equity791/2-€63,750
Transfer to equity691/2€57,000€82,750▲
To other reserves6921€57,000€82,750▲
Profit to be distributed694/7-€63,750
Return on contributions (dividend)694-€63,750

The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line202220232024Change
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€874€6,486€8,048▲ 24.1%
Other operating charges640/8-€1,849€511▼ 72.3%
Gross operating margin9900€18,079€80,926€113,736▲ 40.5%
Operating profit (loss)9901€17,205€72,591€105,177▲ 44.9%
Financial charges65/66B--€141-
Recurring financial charges65--€141-
Profit (loss) for the period before taxes9903€17,205€72,591€105,036▲ 44.7%
Income taxes67/77€3,555€15,692€22,796▲ 45.3%
Profit (loss) for the period9904€13,650€56,899€82,240▲ 44.5%
Profit (loss) for the period to be appropriated9905€13,650€56,899€82,240▲ 44.5%
Line202220232024Change
Assets
Total assets20/58€42,423€101,466€102,966▲ 1.5%
Fixed assets21/28€21,594€20,294€19,303▼ 4.9%
Tangible fixed assets22/27€21,594€20,294€19,303▼ 4.9%
Plant, machinery and equipment23€2,427€6,127€10,136▲ 65.4%
Furniture and vehicles24€19,167€14,167€9,167▼ 35.3%
Current assets29/58€20,829€81,173€83,663▲ 3.1%
Cash at bank and in hand54/58€4,252€56,229€58,460▲ 4.0%
Deferred charges and accrued income490/1€16,577€24,944€25,203▲ 1.0%
Equity and liabilities
Total equity and liabilities10/49€42,423€101,466€102,966▲ 1.5%
Equity10/15€16,650€73,549€92,039▲ 25.1%
Contributions10/11€3,000€3,000€3,000=
Reserves13€13,000€70,000€89,000▲ 27.1%
Distributable reserves133€13,000€70,000€89,000▲ 27.1%
Profit (loss) carried forward14€650€549€39▼ 92.9%
Amounts payable17/49€25,773€27,918€10,927▼ 60.9%
Amounts payable within one year42/48€23,555€24,038€8,867▼ 63.1%
Taxes, remuneration and social security45€3,555€3,992€5,096▲ 27.7%
Taxes450/3€3,555€3,992€5,096▲ 27.7%
Other amounts payable47/48€20,000€20,046€3,771▼ 81.2%
Accrued charges and deferred income492/3€2,218€3,879€2,060▼ 46.9%
Line202220232024Change
Profit (loss) for the period9904€13,650€56,899€82,240▲ 44.5%
+ Depreciation and write-downs630€874€6,486€8,048▲ 24.1%
Operating cash flow (approximation)€14,525€63,385€90,288▲ 42.4%
Investment in fixed assets (approximation)--€5,186-€7,057▼ 36.1%
Change in cash-€51,977€2,231▼ 95.7%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

2025
01-05
NBB filing Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial Highest result since 2022net €82,240 ▲44.5%
Operating result €105,177, net result €82,240, both a record.
31-12
Financial Liquidity triplescurrent ratio 9.44
Current ratio from 3.38 to 9.44; short-term debt falls from €24,038 to €8,867.
25-07
NBB filing Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial Liquidity quadruplescurrent ratio 3.38
Current ratio from 0.88 to 3.38.
17-05
NBB filing Annual accounts filed
fiscal year 2022 · micro schema
Financial milestoneNBB 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, Chaudfontaine · 1 establishment unit since 2022
seat establishment The establishment unit on the map
Ground area
1,270 m²
Building footprint
135 m²
Volume, LiDAR
1,214 m³
Parcel 62012A0066/00R000, Wallonia · tallest building 10.8 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Rue les Oies 60, 4052 Chaudfontaine
Specialist medical practice
since 20222.337.575.086
1 parcel
Wallonia 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
62012A0066/00R000 Wallonia 1,269 m² 1 · 135 m² 10.8 m · 3 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.

Similar companies · same sector, comparable size

Of 16,629 companies in sector 86220 we hold annual accounts for 7,986. 6,187 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
Founded03-11-2022
Fiscal year end31-12
Activities, NACEBEL 2025
86220Specialist medical practice
E-invoicing
Reachable via Peppol
Peppol ID 0208:0793225814
Also 9925:BE0793225814
Registered 20-11-2025

If you follow this company, Checked tells you the day it leaves the Peppol register.

Register as of 28 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.