MULTISEPA
ActiveSummary
MULTISEPA has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €36,689 and a net result of -€3,724. Equity is growing by ~38.7% per year across the filed fiscal years. Its solvency ranks better than 26% of 411 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability67▼-8
Solvency41▲+1
Growth52▼-26
Track record94
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000 at 30 days acceptable
Liquidity tight (current ratio 1.41 against 1.38 in 2023; short-term debt: 54.7% and cash: 17.6% of total assets), and 84.2% of the assets are financed with debt.
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Signals
Five 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 02
Relative position
BE, all sectors
reference
Forestry and logging (NACE 02)
about 55% 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 dateAge against the risk zone
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
15.8%
Return on assets
-1.6%
Age of the figures
21 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-08-2025, 29 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 4 filingsDeviation from the deadline
2025
not confirmed
2024
29 d late
2023
29 d late
2022
35 d early
2021
26 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 1 day before the deadline; the sector median for financial year 2024 is 6 days before the deadline, and 37% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€3,724
2023 · €14,301
Working capital
€51,665▼ 16.4%
2023 · €61,791
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
Line2021202220232024
Operating result€3,535-€27,521▲ 679%€14,999▼ 45.5%-€777
Net result€1,657-€19,455▲ 1,074%€14,301▼ 26.5%-€3,724
Equity€6,657-€26,112▲ 292%€40,413▲ 54.8%€36,689▼ 9.2%
Total assets€291,052-€272,975▼ 6.2%€277,421▲ 1.6%€231,739▼ 16.5%
Debt€284,395-€246,863▼ 13.2%€237,008▼ 4.0%€195,050▼ 17.7%
Working capital-€52,880--€15,550▲ 70.6%€61,791€51,665▼ 16.4%
Staff (FTE)7.1-5.7▼ 19.7%4.9▼ 14.0%
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €777 after €14,999 in 2023, the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €231,739
Fixed assets
€53,373 ▲ 3.9%
Current assets
€178,366 ▼ 21.1%
Equity and liabilities €231,739
Equity
€36,689 ▼ 9.2%
Debt
€195,050 ▼ 17.7%
Debt's share of the balance-sheet total falls from 85.4% to 84.2%. Equity and debt are lower.
Key figures and ratios
EBITDA
€27,387▼
2023 · €43,792
Cash flow
€24,440▼
2023 · €43,093
Current ratio
1.41▲
2023 · 1.38
Quick ratio
0.95▼
2023 · 1.12
Debt to equity
5.32▼
2023 · 5.86
ROE
-10.1%▼
2023 · 35.4%
ROA
-1.6%▼
2023 · 5.2%
Interest coverage
10.81▼
2023 · 16.51
Debt ≤ 1 year
€126,701▼
2023 · €164,277
Debt > 1 year
€14,603▲
2023 · €13,886
Income taxes
€436▼
2023 · €3,584
Staff costs
€212,999▲
2023 · €209,847
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €286,561 | €222,969 | €209,847 | €212,999 | ▲ 1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €40,154 | €26,688 | €28,792 | €28,164 | ▼ 2.2% |
| Other operating charges640/8 | €13,841 | €4,294 | €3,694 | €3,935 | ▲ 6.5% |
| Non-recurring operating charges66A | - | - | €1,510 | €469 | ▼ 68.9% |
| Gross operating margin9900 | €344,091 | €281,472 | €258,843 | €244,790 | ▼ 5.4% |
| Operating profit (loss)9901 | €3,535 | €27,521 | €14,999 | -€777 | ▼ 105% |
| Financial income75/76B | €61 | €131 | €5,539 | €23 | ▼ 99.6% |
| Recurring financial income75 | €61 | €131 | €5,539 | €23 | ▼ 99.6% |
| Financial charges65/66B | €1,851 | €2,947 | €2,653 | €2,534 | ▼ 4.5% |
| Recurring financial charges65 | €1,851 | €2,947 | €2,653 | €2,534 | ▼ 4.5% |
| Profit (loss) for the period before taxes9903 | €1,745 | €24,706 | €17,885 | -€3,288 | ▼ 118% |
| Income taxes67/77 | €88 | €5,251 | €3,584 | €436 | ▼ 87.8% |
| Profit (loss) for the period9904 | €1,657 | €19,455 | €14,301 | -€3,724 | ▼ 126% |
| Profit (loss) for the period to be appropriated9905 | €1,657 | €19,455 | €14,301 | -€3,724 | ▼ 126% |
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €291,052 | €272,975 | €277,421 | €231,739 | ▼ 16.5% |
| Fixed assets21/28 | €93,475 | €70,080 | €51,352 | €53,373 | ▲ 3.9% |
| Intangible fixed assets21 | - | - | €4,820 | €3,726 | ▼ 22.7% |
| Tangible fixed assets22/27 | €93,300 | €69,905 | €46,357 | €49,472 | ▲ 6.7% |
| Land and buildings22 | - | - | €9,976 | €8,875 | ▼ 11.0% |
| Plant, machinery and equipment23 | €89,929 | €64,520 | €33,583 | €25,726 | ▼ 23.4% |
| Furniture and vehicles24 | €3,371 | €5,385 | €2,798 | €14,872 | ▲ 431% |
| Financial fixed assets28 | €175 | €175 | €175 | €175 | = |
| Current assets29/58 | €197,577 | €202,895 | €226,068 | €178,366 | ▼ 21.1% |
| Stocks and contracts in progress3 | €44,652 | €23,703 | €42,237 | €57,604 | ▲ 36.4% |
| Stocks30/36 | €44,652 | €23,703 | €42,237 | €57,604 | ▲ 36.4% |
| Amounts receivable within one year40/41 | €89,450 | €98,569 | €143,343 | €75,779 | ▼ 47.1% |
| Trade receivables40 | €79,019 | €92,433 | €129,927 | €31,997 | ▼ 75.4% |
| Other amounts receivable41 | €10,431 | €6,136 | €13,416 | €43,782 | ▲ 226% |
| Cash at bank and in hand54/58 | €52,842 | €75,809 | €37,003 | €40,757 | ▲ 10.1% |
| Deferred charges and accrued income490/1 | €10,633 | €4,814 | €3,486 | €4,226 | ▲ 21.2% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €291,052 | €272,975 | €277,421 | €231,739 | ▼ 16.5% |
| Equity10/15 | €6,657 | €26,112 | €40,413 | €36,689 | ▼ 9.2% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Profit (loss) carried forward14 | €1,657 | €21,112 | €35,413 | €31,689 | ▼ 10.5% |
| Amounts payable17/49 | €284,395 | €246,863 | €237,008 | €195,050 | ▼ 17.7% |
| Amounts payable after more than one year17 | €33,938 | €28,418 | €13,886 | €14,603 | ▲ 5.2% |
| Financial debts170/4 | €33,938 | €28,418 | €13,886 | €14,603 | ▲ 5.2% |
| Amounts payable within one year42/48 | €250,457 | €218,445 | €164,277 | €126,701 | ▼ 22.9% |
| Current portion of amounts payable after more than one year42 | €27,571 | €31,714 | €25,992 | €12,981 | ▼ 50.1% |
| Financial debts43 | €3,942 | €7,159 | €4,520 | €4,316 | ▼ 4.5% |
| Other loans439 | €3,942 | €7,159 | €4,520 | €4,316 | ▼ 4.5% |
| Trade debts44 | €22,750 | €84,750 | €103,302 | €92,868 | ▼ 10.1% |
| Suppliers440/4 | €22,750 | €84,750 | €103,302 | €92,868 | ▼ 10.1% |
| Advances received on contracts in progress46 | €52,504 | €40,505 | - | - | - |
| Taxes, remuneration and social security45 | €51,203 | €27,896 | €30,291 | €16,364 | ▼ 46.0% |
| Taxes450/3 | €14,065 | €3,116 | €4,148 | €4,454 | ▲ 7.4% |
| Remuneration and social security454/9 | €37,137 | €24,780 | €26,143 | €11,910 | ▼ 54.4% |
| Other amounts payable47/48 | €92,487 | €26,421 | €172 | €172 | = |
| Accrued charges and deferred income492/3 | - | - | €58,845 | €53,746 | ▼ 8.7% |
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,657 | €19,455 | €14,301 | -€3,724 | ▼ 126% |
| + Depreciation and write-downs630 | €40,154 | €26,688 | €28,792 | €28,164 | ▼ 2.2% |
| Operating cash flow (approximation) | €41,810 | €46,144 | €43,093 | €24,440 | ▼ 43.3% |
| Investment in fixed assets (approximation) | - | -€3,293 | -€10,065 | -€30,184 | ▼ 200% |
| Change in cash | - | €22,967 | -€38,806 | €3,754 | ▲ 110% |
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
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
31-12
Financial
Weakest financial yearnet -€3,724
Net result drops to -€3,724, the lowest in the series.
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 29 days late
2023
26-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2021net €19,455 ▲1,074%
Operating result €27,521, net result €19,455, both a record.
05-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro 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, Walcourt · 1 establishment unit since 2021
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.
Allée de Linaires(Cha) 3A5650 Walcourt1 establishment unit
Multisepa
since 20212.311.868.997
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Of 1,555 companies in sector 02200 we hold annual accounts for 448. 244 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
Founded24-12-2020
Fiscal year end31-12
Activities, NACEBEL 2025
02200Logging
81300Landscape service activities
43120Site preparation
43320Joinery installation
43331Floor and wall tiling
46869Wholesale trade
47522Retail trade
47761Retail sale of flowers, plants, seeds and fertilisers
47789Other retail sale of new goods
Contact
E-mail
info@multisepa.be
Phone
+32477214517
Phone
+3271143143
E-invoicing
Reachable via Peppol
Peppol ID
0208:0760514147
Also
9925:BE0760514147
Registered
17-02-2025
Register as of 26 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.