MULTISTAR
InactiveInactive; last annual accounts for fiscal year 2023.
Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-12-2024, 2 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 10 filingsPosition against the passed deadline
31-12-2024 close31-07-2025 deadline29-09-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2023 was due by 31-07-2024 and was filed on 13-06-2024, 48 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
48 d early
2022
76 d early
2021
75 d early
2020
61 d early
2019
24 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 5 accounts on average 57 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
Go further with this company
Who ran this company, and where was it based, on a date before the end?Company as of a date Which other companies belong to the same group?HERPAIN · 8 companies
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2023, full schema
Turnover
€27,050▼ 69.9%
2020 · €90,000
EBIT margin
-209.5%▼ 251.3pp
2020 · 41.8%
Net result
€61,746▼ 97.0%
2022 · €2.1m
Working capital
€1.7m▼ 48.5%
2022 · €3.2m
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
Line20192020202120222023
Turnover€90,000▲ 363%€90,000=€27,050▼ 69.9%
Operating result€43,887▲ 83.7%€37,615▼ 14.3%-€56,664€2.9m-€37,378
Net result€6,939-€1,213-€69,099▼ 5,596%€2.1m€61,746▼ 97.0%
EBIT margin48.8%▼ 74.1pp41.8%▼ 7.0pp-209.5%▼ 251.3pp
Equity€657,313▲ 1.1%€656,100▼ 0.2%€587,001▼ 10.5%€2.4m▲ 316%€2.5m▲ 2.5%
Total assets€820,526▼ 2.3%€1.0m▲ 23.3%€1.8m▲ 75.7%€3.2m▲ 82.0%€4.5m▲ 39.7%
Debt€154,179▼ 12.9%€349,441▲ 127%€1.2m▲ 240%€4,926▼ 99.6%€1.2m▲ 24,823%
Working capital-€13,965▲ 56.8%-€24,973▼ 78.8%€217,128€3.2m▲ 1,388%€1.7m▼ 48.5%
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2023: a loss of €37,378 after €2.9m in 2022.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €4.5m
Fixed assets
€2.9m
Current assets
€1.7m
Equity and liabilities €4.5m
Equity
€2.5m ▲ 2.5%
Provisions
€788,294 =
Debt
€1.2m ▲ 24,823%
Debt's share of the balance-sheet total rises from 0.2% to 27.2%. Equity and debt are higher.
Key figures and ratios
Quick ratio
1.37
Debt to equity
0.49▲
2022 · 0.00
ROE
2.5%▼
2022 · 84.4%
ROA
1.4%▼
2022 · 63.7%
Debt ≤ 1 year
€6,389▲
2022 · €4,926
Debt > 1 year
€1.2m
A ratio outside any meaningful range has been withheld (balance sheet total €4.5m, equity €2.5m).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | €43,000 | €3.2m | €3,060 | ▼ 99.9% |
| Turnover70 | €90,000 | €90,000 | €27,050 | - | - | - |
| Other operating income74 | - | - | €15,950 | €3.2m | €3,060 | ▼ 99.9% |
| Operating charges60/66A | - | - | €99,663 | €292,590 | €40,438 | ▼ 86.2% |
| Goods for resale, raw materials and consumables60 | - | - | - | - | -€90,907 | - |
| Purchases600/8 | - | - | - | - | €1.5m | - |
| Change in stocks: decrease (increase)609 | - | - | - | - | -€1.6m | - |
| Services and other goods61 | - | - | €18,253 | €262,710 | €28,839 | ▼ 89.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €41,419 | €44,545 | €54,329 | - | - | - |
| Other operating charges640/8 | - | - | €27,082 | €29,879 | €102,506 | ▲ 243% |
| Operating profit (loss)9901 | €43,887 | €37,615 | -€56,664 | €2.9m | -€37,378 | ▼ 101% |
| Financial income75/76B | - | - | - | - | €101,373 | - |
| Recurring financial income75 | - | - | - | - | €101,373 | - |
| Income from financial fixed assets750 | - | - | - | - | €101,373 | - |
| Financial charges65/66B | - | - | €17,498 | €15,668 | €2,249 | ▼ 85.6% |
| Recurring financial charges65 | €5,155 | €6,330 | €17,498 | €15,668 | €2,249 | ▼ 85.6% |
| Debt charges650 | €4,764 | €5,682 | €11,531 | €12,983 | €0 | ▼ 100% |
| Other financial charges652/9 | - | - | €5,967 | €2,685 | €2,249 | ▼ 16.2% |
| Profit (loss) for the period before taxes9903 | €38,732 | €31,285 | -€74,162 | €2.8m | €61,746 | ▼ 97.8% |
| Transfer from deferred taxes780 | - | - | €2,533 | €3,968 | - | - |
| Transfer to deferred taxes680 | - | - | - | €788,294 | - | - |
| Income taxes67/77 | €35,237 | €35,031 | -€2,530 | - | - | - |
| Tax adjustments and reversals of tax provisions77 | - | - | €2,530 | - | - | - |
| Profit (loss) for the period9904 | €6,939 | -€1,213 | -€69,099 | €2.1m | €61,746 | ▼ 97.0% |
| Transfer from tax-exempt reserves789 | - | - | €7,599 | €2,347 | - | - |
| Transfer to tax-exempt reserves689 | - | - | - | €2.4m | - | - |
| Profit (loss) for the period to be appropriated9905 | €13,627 | €6,386 | -€61,500 | -€300,484 | €61,746 | ▲ 121% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €820,526 | €1.0m | €1.8m | €3.2m | €4.5m | ▲ 39.7% |
| Formation expenses20 | - | - | - | - | €0 | - |
| Fixed assets21/28 | €792,359 | €971,980 | €1.6m | - | €2.9m | - |
| Intangible fixed assets21 | - | - | - | - | €0 | - |
| Tangible fixed assets22/27 | €791,711 | €971,331 | €1.6m | - | - | - |
| Land and buildings22 | - | - | €1.6m | - | - | - |
| Financial fixed assets28 | €648 | €648 | €648 | - | €2.9m | - |
| Affiliated companies280/1 | - | - | - | - | €2.9m | - |
| Amounts receivable281 | - | - | - | - | €2.9m | - |
| Other financial fixed assets284/8 | - | - | €648 | - | - | - |
| Amounts receivable and cash guarantees285/8 | - | - | €648 | - | - | - |
| Current assets29/58 | €28,166 | €40,063 | €224,557 | €3.2m | €1.7m | ▼ 48.4% |
| Amounts receivable after more than one year29 | - | - | - | - | €5,000 | - |
| Other amounts receivable291 | - | - | - | - | €5,000 | - |
| Stocks and contracts in progress3 | - | - | - | - | €1.7m | - |
| Stocks30/36 | - | - | - | - | €1.7m | - |
| Property held for sale35 | - | - | - | - | €1.7m | - |
| Amounts receivable within one year40/41 | - | €9,333 | €1,466 | - | €3,060 | - |
| Trade receivables40 | - | - | - | - | €3,060 | - |
| Other amounts receivable41 | - | - | €1,466 | - | - | - |
| Cash at bank and in hand54/58 | €27,357 | €30,729 | €223,092 | €3.2m | €705 | ▼ 100.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €820,526 | €1.0m | €1.8m | €3.2m | €4.5m | ▲ 39.7% |
| Equity10/15 | €657,313 | €656,100 | €587,001 | €2.4m | €2.5m | ▲ 2.5% |
| Contributions10/11 | €100,400 | €100,400 | €100,400 | €100,400 | €100,400 | = |
| Capital10 | - | - | €100,400 | €100,400 | €100,400 | = |
| Issued capital100 | - | - | €100,400 | €100,400 | €100,400 | = |
| Revaluation surpluses12 | - | - | €433,256 | - | - | - |
| Reserves13 | €42,993 | €35,395 | €27,796 | €2.6m | €2.4m | ▼ 8.1% |
| Non-distributable reserves130/1 | - | - | €10,040 | €10,040 | €10,040 | = |
| Legal reserve130 | - | - | €10,040 | €10,040 | €10,040 | = |
| Tax-exempt reserves132 | - | - | €17,756 | €2.4m | €2.4m | = |
| Distributable reserves133 | - | - | - | €227,045 | €13,856 | ▼ 93.9% |
| Profit (loss) carried forward14 | €80,664 | €87,050 | €25,549 | -€274,935 | €0 | ▲ 100% |
| Provisions and deferred taxes16 | €9,034 | €6,501 | €3,968 | €788,294 | €788,294 | = |
| Deferred taxes168 | - | - | €3,968 | €788,294 | €788,294 | = |
| Amounts payable17/49 | €154,179 | €349,441 | €1.2m | €4,926 | €1.2m | ▲ 24,823% |
| Amounts payable after more than one year17 | €112,047 | €284,405 | €1.2m | - | €1.2m | - |
| Financial debts170/4 | - | - | €1.2m | - | €0 | - |
| Subordinated loans170 | - | - | €275,502 | - | - | - |
| Credit institutions173 | - | - | €899,999 | - | €0 | - |
| Other amounts payable178/9 | - | - | - | - | €1.2m | - |
| Amounts payable within one year42/48 | €42,131 | €65,036 | €7,429 | €4,926 | €6,389 | ▲ 29.7% |
| Trade debts44 | €14,745 | €1,530 | €7,429 | €4,926 | €6,389 | ▲ 29.7% |
| Suppliers440/4 | - | - | €7,429 | €4,926 | €6,389 | ▲ 29.7% |
| Accrued charges and deferred income492/3 | - | - | €4,342 | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6,939 | -€1,213 | -€69,099 | €2.1m | €61,746 | ▼ 97.0% |
| + Depreciation and write-downs630 | €41,419 | €44,545 | €54,329 | - | - | - |
| Operating cash flow (approximation) | €48,357 | €43,332 | -€14,770 | €2.1m | €61,746 | ▼ 97.0% |
| Investment in fixed assets (approximation) | - | -€224,165 | -€636,034 | - | - | - |
| Change in cash | - | €3,372 | €192,362 | €3.0m | -€3.2m | ▼ 207% |
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
2024
13-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
16-05
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Back to profitnet €2.1m
Net result €2.1m after 2 loss-making years.
31-12
Financial
Liquidity times 22current ratio 656.89
Current ratio from 30.23 to 656.89; short-term debt falls from €7,429 to €4,926.
31-12
Financial
Equity above €2mEq €2.4m ▲316%
Equity rises from €587,001 to €2.4m.
17-05
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Weakest financial yearnet -€69,099
Net result drops to -€69,099, the lowest in the series.
31-12
Financial
Liquidity times 49current ratio 30.23
Current ratio from 0.62 to 30.23; short-term debt falls from €65,036 to €7,429.
31-05
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
07-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Back to profitnet €6,939
Net result €6,939 after one loss-making year.
06-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
Show earlier events
2018
28-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 31 days late
2016
16-12
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 138 days late
2015
31-08
NBB filing
Annual accounts filed
fiscal year 2014 · full schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 13 acts read
About the unread acts
We know of 13 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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Structure & network
Part of the group
HERPAIN
8 companies
Group, risk and exposure
Owners and holdings
1 ownerChain of control
- HERPAIN
- HERPAIN INVESTISSEMENT
- MULTISTAR
Highest known parent: HERPAIN. The sources do not say who stands above it.
Owners 1
-
100%
Holdings 0
The accounts to 31-12-2023 list no holdings, and no other source names one.
According to the 2023 annual accounts of MULTISTAR and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.