MSVA
ActiveSummary
MSVA has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €27k and a net result of €82k. Equity is growing by ~10.4% per year across the filed fiscal years. Its solvency ranks better than 23% of 37953 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability100=
Solvency49▲+5
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2k at 30 days acceptable
Liquidity tight (current ratio 1.27 against 1.16 in 2023; short-term debt: 75.2% and cash: 81.4% of total assets), and 75.9% of the assets are financed with debt.
Credit check for your own amount and term
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 →
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 2024Solvency, return and age of the figures
Solvency
24.1%
Return on assets
73.2%
Age of the figures
21 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 23% of 37953 sector peers (2024).
NBB · sector comparisonPosition among 37953 sector peers
Solvency
better than 23%
← weakest
strongest →
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 · 9 filingsDeviation from the deadline
2025
not confirmed
2024
30 d early
2023
29 d early
2022
27 d early
2021
25 d early
2020
27 d early
2019
31 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€27k▲ 34.4%
2023 · €20k
2018: €14klowest in 7 years
2019: €14k● 0.0% vs 2018lowest in 7 years
2020: €19k▲ +30.4% vs 2019
2021: €15k▼ -20.8% vs 2020
2022: €20k▲ +36.2% vs 2021
2023: €20k● 0.0% vs 2022
2024: €27k▲ +34.4% vs 2023highest in 7 years
2018 → 2024
Total assets
€112k▲ 8.2%
2023 · €103k
2018: €77k
2019: €73k▼ -6.0% vs 2018lowest in 7 years
2020: €73k▲ +0.7% vs 2019
2021: €97k▲ +32.0% vs 2020
2022: €122k▲ +26.1% vs 2021highest in 7 years
2023: €103k▼ -15.2% vs 2022
2024: €112k▲ +8.2% vs 2023
2018 → 2024
Net result
€82k▲ 23.0%
2023 · €67k
2018: €47k
2019: €37k▼ -20.7% vs 2018
2020: €35k▼ -5.9% vs 2019lowest in 7 years
2021: €88k▲ +152% vs 2020
2022: €90k▲ +2.8% vs 2021highest in 7 years
2023: €67k▼ -26.3% vs 2022
2024: €82k▲ +23.0% vs 2023
2018 → 2024
Working capital
€22k▲ 71.5%
2023 · €13k
2018: €-3klowest in 7 years
2019: €2k▲ +182% vs 2018
2020: €13k▲ +452% vs 2019
2021: €11k▼ -10.6% vs 2020
2022: €13k▲ +17.3% vs 2021
2023: €13k▼ -1.2% vs 2022
2024: €22k▲ +71.5% vs 2023highest in 7 years
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€19k-€15k▼ 20.8%€20k▲ 36.2%€20k=€27k▲ 34.4%
2020: €19k
2021: €15k▼ -20.8% vs 2020lowest in 5 years
2022: €20k▲ +36.2% vs 2021
2023: €20k● 0.0% vs 2022
2024: €27k▲ +34.4% vs 2023highest in 5 years
Operating result€45k-€112k▲ 151%€116k▲ 3.0%€84k▼ 26.9%€104k▲ 23.3%
2020: €45klowest in 5 years
2021: €112k▲ +151% vs 2020
2022: €116k▲ +3.0% vs 2021highest in 5 years
2023: €84k▼ -26.9% vs 2022
2024: €104k▲ +23.3% vs 2023
Net result€35k-€88k▲ 152%€90k▲ 2.8%€67k▼ 26.3%€82k▲ 23.0%
2020: €35klowest in 5 years
2021: €88k▲ +152% vs 2020
2022: €90k▲ +2.8% vs 2021highest in 5 years
2023: €67k▼ -26.3% vs 2022
2024: €82k▲ +23.0% vs 2023
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 23% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €112k
Fixed assets
€5k ▼ 29.3%
Current assets
€107k ▲ 11.2%
Equity and liabilities €112k
Equity
€27k ▲ 34.4%
Debt
€85k ▲ 1.9%
Debt's share of the balance-sheet total falls from 80.6% to 75.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€107k▲
2023 · €87k
Cash flow
€85k▲
2023 · €69k
Current ratio
1.27▲
2023 · 1.16
Debt to equity
3.15▼
2023 · 4.15
ROE
303.6%▼
2023 · 331.9%
ROA
73.2%▲
2023 · 64.4%
Interest coverage
2379.48▲
2023 · 1975.69
Debt ≤ 1 year
€84k▲
2023 · €83k
Income taxes
€22k▲
2023 · €18k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 40 lines
Balance sheet
Code20232024
Assets
Total assets20/58€103k€112k▲
Fixed assets21/28€8k€5k▼
Tangible fixed assets22/27€8k€5k▼
Plant, machinery and equipment23€6k€5k▼
Furniture and vehicles24€352€161▼
Other tangible fixed assets26€1k€524▼
Current assets29/58€96k€107k▲
Amounts receivable within one year40/41-€15k
Trade receivables40-€15k
Cash at bank and in hand54/58€96k€91k▼
Equity and liabilities
Total equity and liabilities10/49€103k€112k▲
Equity10/15€20k€27k▲
Contributions10/11€2k€2k=
Reserves13€18k€25k▲
Distributable reserves133€18k€25k▲
Amounts payable17/49€83k€85k▲
Amounts payable within one year42/48€83k€84k▲
Trade debts44€298€365▲
Suppliers440/4€298€365▲
Taxes, remuneration and social security45€13k€9k▼
Taxes450/3€13k€9k▼
Other amounts payable47/48€69k€75k▲
Accrued charges and deferred income492/3€561€782▲
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2k€3k▲
Other operating charges640/8€723€796▲
Gross operating margin9900€88k€108k▲
Operating profit (loss)9901€84k€104k▲
Financial income75/76B€3€161▲
Recurring financial income75€3€161▲
Financial charges65/66B€44€45▲
Recurring financial charges65€44€45▲
Profit (loss) for the period before taxes9903€84k€104k▲
Income taxes67/77€18k€22k▲
Profit (loss) for the period9904€67k€82k▲
Profit (loss) for the period to be appropriated9905€67k€82k▲
Appropriation of the result
Profit (loss) to be appropriated9906€67k€82k▲
Transfer to equity691/2-€7k
To other reserves6921-€7k
Profit to be distributed694/7€67k€75k▲
Return on contributions (dividend)694€67k€75k▲
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €865 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8k | €2k | €2k | €2k | €3k | ▲ 25.8% |
| Other operating charges640/8 | - | €769 | €971 | €723 | €796 | ▲ 10.0% |
| Gross operating margin9900 | €53k | €115k | €118k | €88k | €108k | ▲ 23.3% |
| Operating profit (loss)9901 | €45k | €112k | €116k | €84k | €104k | ▲ 23.3% |
| Financial income75/76B | - | - | - | €3 | €161 | ▲ 5,616% |
| Recurring financial income75 | - | - | - | €3 | €161 | ▲ 5,616% |
| Financial charges65/66B | - | €45 | €45 | €44 | €45 | ▲ 2.4% |
| Recurring financial charges65 | €42 | €45 | €45 | €44 | €45 | ▲ 2.4% |
| Profit (loss) for the period before taxes9903 | €45k | €112k | €116k | €84k | €104k | ▲ 23.5% |
| Income taxes67/77 | €10k | €24k | €25k | €18k | €22k | ▲ 25.4% |
| Profit (loss) for the period9904 | €35k | €88k | €90k | €67k | €82k | ▲ 23.0% |
| Profit (loss) for the period to be appropriated9905 | €35k | €88k | €90k | €67k | €82k | ▲ 23.0% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €73k | €97k | €122k | €103k | €112k | ▲ 8.2% |
| Fixed assets21/28 | €6k | €4k | €7k | €8k | €5k | ▼ 29.3% |
| Tangible fixed assets22/27 | €6k | €4k | €7k | €8k | €5k | ▼ 29.3% |
| Plant, machinery and equipment23 | - | €1k | €5k | €6k | €5k | ▼ 24.3% |
| Furniture and vehicles24 | - | €735 | €544 | €352 | €161 | ▼ 54.3% |
| Other tangible fixed assets26 | - | €2k | €2k | €1k | €524 | ▼ 50.0% |
| Current assets29/58 | €67k | €93k | €115k | €96k | €107k | ▲ 11.2% |
| Amounts receivable within one year40/41 | - | €67k | €86k | - | €15k | - |
| Trade receivables40 | - | €65k | €84k | - | €15k | - |
| Other amounts receivable41 | - | €2k | €2k | - | - | - |
| Cash at bank and in hand54/58 | €66k | €26k | €27k | €96k | €91k | ▼ 5.0% |
| Deferred charges and accrued income490/1 | - | - | €2k | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €73k | €97k | €122k | €103k | €112k | ▲ 8.2% |
| Equity10/15 | €19k | €15k | €20k | €20k | €27k | ▲ 34.4% |
| Contributions10/11 | - | €2k | €2k | €2k | €2k | = |
| Reserves13 | - | €13k | €18k | €18k | €25k | ▲ 38.0% |
| Distributable reserves133 | - | €13k | €18k | €18k | €25k | ▲ 38.0% |
| Amounts payable17/49 | €55k | €82k | €102k | €83k | €85k | ▲ 1.9% |
| Amounts payable within one year42/48 | €55k | €82k | €102k | €83k | €84k | ▲ 1.7% |
| Trade debts44 | €5k | €1k | €345 | €298 | €365 | ▲ 22.8% |
| Suppliers440/4 | - | €1k | €345 | €298 | €365 | ▲ 22.8% |
| Taxes, remuneration and social security45 | - | €8k | €8k | €13k | €9k | ▼ 32.9% |
| Taxes450/3 | - | €8k | €8k | €13k | €9k | ▼ 32.9% |
| Other amounts payable47/48 | - | €73k | €93k | €69k | €75k | ▲ 8.1% |
| Accrued charges and deferred income492/3 | - | €433 | €411 | €561 | €782 | ▲ 39.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €35k | €88k | €90k | €67k | €82k | ▲ 23.0% |
| + Depreciation and write-downs630 | €8k | €2k | €2k | €2k | €3k | ▲ 25.8% |
| Operating cash flow (approximation) | €43k | €90k | €92k | €69k | €85k | ▲ 23.1% |
| Investment in fixed assets (approximation) | - | €392 | €-5k | €-3k | €-722 | ▲ 72.7% |
| Change in cash | - | €-40k | €1k | €69k | €-5k | ▼ 107% |
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
02-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
04-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2018net €90k ▲2.8%
Operating result €116k, net result €90k, both a record.
06-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
04-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Weakest financial yearnet €35k ▼5.9%
Net result drops to €35k, the lowest in the series; recovery starts the following year.
30-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
02-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
03-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
30-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 acts for this company are 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, Antwerpen · 1 establishment unit since 2015
Ground area
399 m²
Building footprint
104 m²
Volume, LiDAR
775 m³
Parcel 11051B0210/00F004, Flanders · tallest building 12.6 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
MSVA
since 20152.247.757.046
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11051B0210/00F004 | Flanders | 399 m² | 1 · 104 m² | 12.6 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.
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Of 82,553 companies in sector 70200 we hold annual accounts for 52,585. 33,560 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
Founded26-11-2015
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
73300Public relations and communication consultancy
Scores and ratios are computed by Checked and are not a credit decision.