MSW IMMO II
ActiveSummary
MSW IMMO II has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €145k and a net result of €61k. Equity is growing by ~65.6% per year across the filed fiscal years. Its solvency ranks better than 26% of 9194 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
61
/ 100
Healthy
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability73▲+1
Solvency32▲+3
Growth78=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €8k at 30 days acceptable
Liquidity short (current ratio 0.98 against 0.87 in 2024; short-term debt: 12% and cash: 0.1% of total assets), and 92.6% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Sector 68
lower
← 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 2025Solvency, return and age of the figures
Solvency
7.4%
Return on assets
3.1%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 10-06-2026, 51 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
51 d early
2024
27 d early
2023
58 d early
2022
31 d early
2021
19 d early
2020
15 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
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
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€145k▲ 73.2%
2024 · €84k
2020: €-96k
2021: €-63k
2022: €-16k
2023: €26k
2024: €84k
2020 → 2025
Total assets
€1.96M▼ 0.7%
2024 · €1.97M
2020: €2.15M
2021: €2.09M
2022: €2.02M
2023: €1.99M
2024: €1.97M
2020 → 2025
Net result
€61k▲ 6.4%
2024 · €58k
2020: €-221k
2021: €33k
2022: €47k
2023: €42k
2024: €58k
2020 → 2025
Working capital
€-5k▲ 82.3%
2024 · €-27k
2020: €-86k
2021: €-82k
2022: €-63k
2023: €-52k
2024: €-27k
2020 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€-63k-€-16k▲ 75.0%€26k€84k▲ 220%€145k▲ 73.2%
Operating result€63k-€77k▲ 21.2%€70k▼ 9.1%€84k▲ 20.3%€93k▲ 10.7%
Net result€33k-€47k▲ 45.5%€42k▼ 11.5%€58k▲ 37.2%€61k▲ 6.4%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 11% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.96M
Fixed assets
€1.73M ▼ 3.8%
Current assets
€230k ▲ 31.7%
Equity and liabilities €1.96M
Equity
€145k ▲ 73.2%
Debt
€1.81M ▼ 4.0%
Debt's share of the balance-sheet total falls from 95.7% to 92.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€167k▲
2024 · €161k
Cash flow
€136k▲
2024 · €135k
Current ratio
0.98▲
2024 · 0.87
Debt to equity
12.49▼
2024 · 22.51
ROE
42.2%▼
2024 · 68.7%
ROA
3.1%▲
2024 · 2.9%
Interest coverage
6.71▲
2024 · 6.09
Debt ≤ 1 year
€234k▲
2024 · €201k
Debt > 1 year
€1.57M▼
2024 · €1.68M
Income taxes
€7k
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 · 2025 against 2024 · 38 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.97M€1.96M▼
Fixed assets21/28€1.80M€1.73M▼
Tangible fixed assets22/27€1.80M€1.73M▼
Land and buildings22€1.80M€1.72M▼
Plant, machinery and equipment23-€6k
Current assets29/58€174k€230k▲
Amounts receivable within one year40/41€160k€229k▲
Trade receivables40€42k€19k▼
Other amounts receivable41€117k€210k▲
Cash at bank and in hand54/58€14k€1k▼
Deferred charges and accrued income490/1€866-
Equity and liabilities
Total equity and liabilities10/49€1.97M€1.96M▼
Equity10/15€84k€145k▲
Contributions10/11€125k€125k=
Profit (loss) carried forward14€-41k€20k▲
Amounts payable17/49€1.89M€1.81M▼
Amounts payable after more than one year17€1.68M€1.57M▼
Financial debts170/4€1.68M€1.57M▼
Amounts payable within one year42/48€201k€234k▲
Current portion of amounts payable after more than one year42€107k€112k▲
Trade debts44€1k€751▼
Suppliers440/4€1k€751▼
Taxes, remuneration and social security45-€2k
Taxes450/3-€2k
Other amounts payable47/48€93k€120k▲
Accrued charges and deferred income492/3€4k€5k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€77k€74k▼
Other operating charges640/8€14k€14k▲
Gross operating margin9900€175k€181k▲
Operating profit (loss)9901€84k€93k▲
Financial charges65/66B€26k€25k▼
Recurring financial charges65€26k€25k▼
Profit (loss) for the period before taxes9903€58k€68k▲
Income taxes67/77-€7k
Profit (loss) for the period9904€58k€61k▲
Profit (loss) for the period to be appropriated9905€58k€61k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-41k€20k▲
Profit (loss) brought forward from the previous period14P€-99k€-41k▲
The notes to these accounts (8 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
10-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2020net €61k ▲6.4%
Operating result €93k, net result €61k, both a record.
31-12
Financial
Equity above €100kEq €145k ▲73.2%
5 profitable years in a row build equity to €145k.
04-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
03-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
12-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €33k
Net result €33k after one loss-making year.
16-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
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, Herent · 1 establishment unit since 2019
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.
Brusselsesteenweg 63020 HerentGround area
1.3 ha
Building footprint
4,381 m²
Volume, LiDAR
26,938 m³
Parcel 24423I0062/00P000, Flanders · tallest building 12.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MSW IMMO II
since 20192.290.329.851
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24423I0062/00P000 | Flanders | 1.3 ha | 1 · 4,381 m² | 12.0 m · 2 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.
Similar companies · same sector, comparable size
DMCE Immobilière
BE 0887.680.850
Chaudfontaine · Eq €145,183
PROMITO
BE 0458.314.904
Balen · Eq €145,090
P.K. Projects
BE 0812.083.802
Diepenbeek · Eq €145,311
DN UPGRADE
BE 0677.923.397
Knokke-Heist · Eq €144,919
M & M International Trading
BE 0867.650.251
Antwerpen · Eq €144,865
Of 9,140 companies in sector 68201 we hold annual accounts for 6,769. 4,537 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded11-06-2019
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
Sources
Crossroads Bank for EnterprisesNational Bank · 6 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.