Mus-E Belgium
ActiveSummary
Mus-E Belgium has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €395k and a net result of €46k. Equity is growing by ~11% per year across the filed fiscal years. Its solvency ranks better than 60% of 538 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is < 0.1% (very low).
Checked score
Score 2024
90
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability77▲+3
Solvency80▲+5
Growth78=
Track record100
Bankruptcy probability, 12 months
< 0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €35k at 30 days acceptable
Liquidity ample (current ratio 12.2 against 7.13 in 2023; short-term debt: 8.1% and cash: 58% of total assets), and 45.5% of the assets are financed with debt.
Credit advice for your own amount and term
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 90
Relative position
BE, all sectors
reference
Sector 90
lower
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-09-2025, 60 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 · 9 filingsDeviation from the deadline
2025
not confirmed
2024
60 d late
2023
22 d late
2022
77 d early
2021
288 d late
2020
127 d early
2019
31 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, abbreviated schema
Equity
€395k▲ 13.1%
2023 · €349k
2018: €204k
2019: €235k
2020: €272k
2021: €287k
2022: €320k
2023: €349k
2018 → 2024
Total assets
€724k▲ 3.6%
2023 · €699k
2018: €484k
2019: €486k
2020: €537k
2021: €537k
2022: €630k
2023: €699k
2018 → 2024
Net result
€46k▲ 59.0%
2023 · €29k
2018: €5k
2019: €31k
2020: €37k
2021: €15k
2022: €34k
2023: €29k
2018 → 2024
Working capital
€655k▲ 11.0%
2023 · €590k
2018: €413k
2019: €420k
2020: €478k
2021: €478k
2022: €568k
2023: €590k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€272k-€287k▲ 5.5%€320k▲ 11.7%€349k▲ 9.0%€395k▲ 13.1%
Operating result€38k-€16k▼ 57.5%€34k▲ 115%€29k▼ 15.0%€47k▲ 59.4%
Net result€37k-€15k▼ 59.6%€34k▲ 124%€29k▼ 14.1%€46k▲ 59.0%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 59% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €724k
Fixed assets
€11k ▼ 15.5%
Current assets
€714k ▲ 3.9%
Equity and liabilities €724k
Equity
€395k ▲ 13.1%
Debt
€329k ▼ 5.9%
Debt's share of the balance-sheet total falls from 50.1% to 45.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€50k▲
2023 · €32k
Cash flow
€49k▲
2023 · €32k
Current ratio
12.20▲
2023 · 7.13
Debt to equity
0.83▼
2023 · 1.00
ROE
11.6%▲
2023 · 8.2%
ROA
6.3%▲
2023 · 4.1%
Interest coverage
52.89▼
2023 · 65.66
Debt ≤ 1 year
€59k▼
2023 · €96k
Staff costs
€566k▲
2023 · €481k
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 · 35 lines
Balance sheet
Code20232024
Assets
Total assets20/58€699k€724k▲
Fixed assets21/28€13k€11k▼
Tangible fixed assets22/27€4k€2k▼
Furniture and vehicles24€4k€2k▼
Financial fixed assets28€9k€9k=
Current assets29/58€687k€714k▲
Amounts receivable within one year40/41€167k€294k▲
Trade receivables40€56k€170k▲
Other amounts receivable41€112k€124k▲
Cash at bank and in hand54/58€519k€420k▼
Equity and liabilities
Total equity and liabilities10/49€699k€724k▲
Equity10/15€349k€395k▲
Profit (loss) carried forward14€349k€395k▲
Amounts payable17/49€350k€329k▼
Amounts payable within one year42/48€96k€59k▼
Trade debts44€46k€15k▼
Suppliers440/4€46k€15k▼
Taxes, remuneration and social security45€50k€44k▼
Remuneration and social security454/9€50k€44k▼
Accrued charges and deferred income492/3€254k€271k▲
Income statement
Code20232024
Remuneration, social security and pensions62€481k€566k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3k€3k▲
Non-recurring operating charges66A-€270
Gross operating margin9900€514k€617k▲
Operating profit (loss)9901€29k€47k▲
Financial income75/76B€0€41▲
Recurring financial income75€0€41▲
Financial charges65/66B€492€949▲
Recurring financial charges65€492€949▲
Profit (loss) for the period before taxes9903€29k€46k▲
Profit (loss) for the period9904€29k€46k▲
Profit (loss) for the period to be appropriated9905€29k€46k▲
Appropriation of the result
Profit (loss) to be appropriated9906€349k€395k▲
Profit (loss) brought forward from the previous period14P€320k€349k▲
Social balance
Average headcount (FTE)90878.510.6▲
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
29-09
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 60 days late
28-05
State Gazette act
Appointment: Patries Wichers (director)8 facts ▸
State Gazette act
Appointment: Patries Wichers (director)
8 facts ▸
- General meeting, 24-03-2025
- Director appointment, Patries Wichers (director)
- Board composition, Johannes Knops (chair)
- Board composition, Jan Van Heuverswyn (director)
- Board composition, Jean-Pierre Smyers (director)
- Board composition, Marianne Poncelet (director)
- Board composition, Cassandre Fraenkel (director)
- Board composition, Patries Wichers (director)
2024
31-12
Financial
Highest result since 2018net €46k ▲59%
Operating result €47k, net result €46k, both a record.
22-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 22 days late
26-06
State Gazette act
Resignation: Michel Netens (director)7 facts ▸
State Gazette act
Resignation: Michel Netens (director)
7 facts ▸
- General meeting, 25-03-2024
- Director resignation, Michel Netens (director)
- Board composition, Johannes Knops (chair)
- Board composition, Jan Van Heuverswyn (director)
- Board composition, Jean-Pierre Smyers (director)
- Board composition, Marianne Poncelet (director)
- Board composition, Cassandre Fraenkel (director)
29-01
State Gazette act
Statutes amendment1 fact ▸
State Gazette act
Statutes amendment
1 fact ▸
- Statutes amendment
2023
22-05
State Gazette act
Resignations: Lindsay Edwards, Anne-Catherine Chevalier and Fatima AbbachWithdrawals: Fatima Abbach (av) and Philippe Désirant (av)13 facts ▸
State Gazette act
Resignations: Lindsay Edwards, Anne-Catherine Chevalier and Fatima Abbach
Withdrawals: Fatima Abbach (av) and Philippe Désirant (av)13 facts ▸
- General meeting, 21-03-2022
- Director resignation, Lindsay Edwards (bestuursraad)
- General meeting, 20-03-2023
- Director resignation, Anne-Catherine Chevalier (bestuursraad)
- Director resignation, Fatima Abbach (bestuursraad)
- Member resignation, Fatima Abbach (av)
- Member resignation, Philippe Désirant (av)
- Board composition, Johannes Knops (chair)
- Board composition, Jan Van Heuverswyn (director)
- Board composition, Michel Nétens (director)
- Board composition, Jean-Pierre Smyers (director)
- Board composition, Marianne Poncelet (director)
- +1 further facts in this act
15-05
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
15-05
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 288 days late
2022
26-10
State Gazette act
Admission: Cassandre Fraenkel (member)Appointments: Cassandre Fraenkel (director) and Jan Knops (chair) · Resignation: Philippe Désirant (ere bestuurder)13 facts ▸
State Gazette act
Admission: Cassandre Fraenkel (member)
Appointments: Cassandre Fraenkel (director) and Jan Knops (chair) · Resignation: Philippe Désirant (ere bestuurder)13 facts ▸
- General meeting, 21-03-2022
- Member admission, Cassandre Fraenkel
- Director appointment, Cassandre Fraenkel (director)
- Director resignation, Philippe Désirant (ere bestuurder)
- Director appointment, Jan Knops (chair)
- Board composition, Johannes Knops (chair)
- Board composition, Anne-Catherine Chevalier (director)
- Board composition, Jan Van Heuverswyn (director)
- Board composition, Michel Nétens (director)
- Board composition, Jean-Pierre Smyers (director)
- Board composition, Marianne Poncelet (director)
- Board composition, Fatima Abbach (director)
- +1 further facts in this act
2021
26-03
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
13-10
State Gazette act
Appointments: Fatima Abbach (director) and Anne-Catherine Chevalier (chair)Resignation: Jan Van Heuverswyn (chair)4 facts ▸
State Gazette act
Appointments: Fatima Abbach (director) and Anne-Catherine Chevalier (chair)
Resignation: Jan Van Heuverswyn (chair)4 facts ▸
- General meeting, 19-03-2020
- Director appointment, Fatima Abbach (director)
- Director resignation, Jan Van Heuverswyn (chair)
- Director appointment, Anne-Catherine Chevalier (chair)
Show earlier events
30-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
30-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 335 days late
2019
06-06
State Gazette act
Reappointments: Jan Van Heuverswyn, Michel Nétens and 5 othersStatutes amendment11 facts ▸
State Gazette act
Reappointments: Jan Van Heuverswyn, Michel Nétens and 5 others
Statutes amendment11 facts ▸
- General meeting, 19-03-2019
- Statutes amendment
- Statutes amendment
- Statutes amendment
- Director reappointment, Jan Van Heuverswyn (chair)
- Director reappointment, Michel Nétens (treasurer)
- Director reappointment, Jean-Pierre Smyers (secretary)
- Director reappointment, Lindsay Willems-Edwards (director)
- Director reappointment, Marianne Poncelet (director)
- Director reappointment, Anne-Catherine Chevalier (director)
- Director reappointment, Philippe Désirant (ere bestuurder)
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 31 days late
30-08
State Gazette act
Reappointments: Jan Van Heuverswyn, Michel Nétens and 5 othersAppointment: Tom Gois (director)9 facts ▸
State Gazette act
Reappointments: Jan Van Heuverswyn, Michel Nétens and 5 others
Appointment: Tom Gois (director)9 facts ▸
- General meeting, 19-03-2018
- Director reappointment, Jan Van Heuverswyn (chair)
- Director reappointment, Michel Nétens (treasurer)
- Director reappointment, Jean-Pierre Smyers (secretary)
- Director reappointment, Lindsay Willems-Edwards (director)
- Director reappointment, Marianne Poncelet (director)
- Director reappointment, Anne-Catherine Chevalier (director)
- Director reappointment, Philippe Désirant (ere bestuurder)
- Director appointment, Tom Gois (director (executive))
2017
23-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 23 days late
19-04
State Gazette act
Resignation: Philippe Désirant (administrateur trésorier)Appointments: Michel Netens, Jean-Pierre Smyers and Philippe Désirant · Approval · Director discharge24 facts ▸
State Gazette act
Resignation: Philippe Désirant (administrateur trésorier)
Appointments: Michel Netens, Jean-Pierre Smyers and Philippe Désirant · Approval · Director discharge24 facts ▸
- General meeting, 21-03-2017
- Approval, Compte-rendu de l'Assemblée Générale du 23 mars 2016
- Approval, Rapport d'activité de l'exercice 2016
- Approval, Bilan et compte de profits et pertes 2016
- Approval, Budget de l'exercice 2017
- Director discharge, MUS-E Belgium asbl-vzw
- Director resignation, Philippe Désirant (administrateur trésorier)
- Director appointment, Michel Netens (treasurer)
- Director appointment, Jean-Pierre Smyers (director)
- Director appointment, Philippe Désirant (administrateur d'honneur)
- Board composition, Jan Van Heuverswyn (chair)
- Board composition, Philippe Désirant (administrateur honoraire)
- +12 further facts in this act
2016
07-07
State Gazette act
Resignations: Dirk van de Walle (director) and Staf Vercammen (director)Admissions: Dirk van de Walle (member) and Staf Vercammen (member) · Appointment: Anne-Catherine Chevalier (director) · Approval22 facts ▸
State Gazette act
Resignations: Dirk van de Walle (director) and Staf Vercammen (director)
Admissions: Dirk van de Walle (member) and Staf Vercammen (member) · Appointment: Anne-Catherine Chevalier (director) · Approval22 facts ▸
- General meeting, 23-03-2016
- Approval, Compte-rendu de l'Assemblée Générale du 19 mars 2015
- Approval, Rapport d'activité de l'exercice 2015
- Approval, Bilan et compte de profits et pertes 2015
- Approval, Budget de l'exercice 2016
- Director discharge, MUS-E Belgium asbl-vzw
- Director resignation, Dirk van de Walle (director)
- Director resignation, Staf Vercammen (director)
- Member admission, Dirk van de Walle
- Member admission, Staf Vercammen
- Director appointment, Anne-Catherine Chevalier (director)
- Board composition, Jan Van Heuverswyn (chair)
- +10 further facts in this act
2015
14-01
State Gazette act
Resignation: Vincent Reuter (director)Appointment: Michel Netens (director) · Registered-office move4 facts ▸
State Gazette act
Resignation: Vincent Reuter (director)
Appointment: Michel Netens (director) · Registered-office move4 facts ▸
- General meeting, 11-12-2014
- Registered-office move, 28 rue du Chevreuil 1000 Bruxelles
- Director resignation, Vincent Reuter (director)
- Director appointment, Michel Netens (director)
2013
13-11
State Gazette act
Resignations: Tom Goris (managing director) and Dirk van de Walle (managing director)Appointments: Dirk van de Walle (administrateur délégué ad intérim) and Tom Goris (directeur général) · Approval · Director discharge22 facts ▸
State Gazette act
Resignations: Tom Goris (managing director) and Dirk van de Walle (managing director)
Appointments: Dirk van de Walle (administrateur délégué ad intérim) and Tom Goris (directeur général) · Approval · Director discharge22 facts ▸
- General meeting, 22-03-2013
- Approval, Compte-rendu de l'Assemblée Générale du 23 mars 2012
- Approval, Rapport d'activité de l'exercice 2012
- Approval, Bilan et compte de profits et pertes
- Approval, Budget de l'exercice 2013
- Director discharge, MUS-E Belgium asbl-vzw
- Director resignation, Tom Goris (managing director)
- Director appointment, Dirk van de Walle (administrateur délégué ad intérim)
- General meeting, 17-05-2013
- Director resignation, Dirk van de Walle (managing director)
- Director appointment, Tom Goris (directeur général)
- Director appointment, Tom Goris (directeur général)
- +10 further facts in this act
2012
29-06
State Gazette act
Appointment: Vincent Reuter (director)Resignation: Willy Claes (director) · Approval · Director discharge14 facts ▸
State Gazette act
Appointment: Vincent Reuter (director)
Resignation: Willy Claes (director) · Approval · Director discharge14 facts ▸
- General meeting, 23-03-2012
- Approval, Compte-rendu de l'Assemblée Générale du 8 avril 2011
- Approval, Rapport d'activité de l'exercice 2011
- Approval, Bilan et compte de pertes et profits
- Director discharge, MUS-E Belgium asbl-vzw
- Director appointment, Vincent Reuter (director)
- Director resignation, Willy Claes (director)
- Board composition, Jan Van Heuverswyn (chair)
- Board composition, Tom Goris (managing director)
- Board composition, Philippe Désirant (treasurer)
- Board composition, Marianne Poncelet (director)
- Board composition, Lindsay Willems Edwards (director)
- +2 further facts in this act
2010
06-08
State Gazette act
Appointment: Dirk Van de Walle (director)Approval · Director discharge14 facts ▸
State Gazette act
Appointment: Dirk Van de Walle (director)
Approval · Director discharge14 facts ▸
- General meeting, 08-04-2010
- Approval, compte-rendu de l'Assemblée Générale du 2 avril 2009
- Approval, rapport d'activité de l'exercice 2009
- Approval, bilan et compte de pertes et profits
- Director discharge, MUS-E Belgium asbl-vzw
- Director appointment, Dirk Van de Walle (director)
- Board composition, Jan Van Heuverswyn (chair)
- Board composition, Tom Goris (managing director)
- Board composition, Philippe Désirant (treasurer)
- Board composition, Marianne Poncelet (director)
- Board composition, Lindsay Willems Edwards (director)
- Board composition, Dirk Van de Walle (director)
- +2 further facts in this act
2005
04-04
State Gazette act
Statutes amendment · Resignations & appointmentsAppointments: Jacques Isaac Castiau, Jan Van Heuverswyn and 3 others · Reappointment: Philippe Désirant (treasurer) · Resignations: Daniele Terranova (director) and Catherine Scorier (director)13 facts ▸
State Gazette act
Statutes amendment · Resignations & appointments
Appointments: Jacques Isaac Castiau, Jan Van Heuverswyn and 3 others · Reappointment: Philippe Désirant (treasurer) · Resignations: Daniele Terranova (director) and Catherine Scorier (director)13 facts ▸
- General meeting, 30-03-2004
- Director discharge, MUS-E Belgium
- Director appointment, Jacques Isaac Castiau (chair)
- Director appointment, Jan Van Heuverswyn (vice-chair)
- Director appointment, Tom Goris (afgevaardigd bestuurder)
- Director appointment, El Boubsi Mohamed (director)
- Director appointment, Marianne Poncelet (director)
- Director reappointment, Philippe Désirant (treasurer)
- Director resignation, Daniele Terranova (director)
- Director resignation, Catherine Scorier (director)
- Statutes amendment
- Dissolution, VZ.W International Yehudi Menuhin Foundation, of indien onmogelijk, aan een andere VZW die een gelijkaardig doel nastreeft
- +1 further facts in this act
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.An act published in both Dutch and French appears here once.
Directors · office · real estate
Directors
10 directors, no change since 2025
Patries Wichers
CurrentDirector · since 24-03-2025
Cassandre Fraenkel
CurrentDirector · since 21-03-2022
Jan Knops
CurrentChair · since 21-03-2022
Jean-Pierre Smyers
Not recently confirmedDirector · since 21-03-2017
Lindsay Willems-Edwards
Not recently confirmedDirector · since 19-03-2019
Marianne Poncelet
Not recently confirmedDirector · since 30-03-2004
4 other directors
Tom Gois
Not recently confirmedDirector (executive) · since 19-03-2018
Tom Goris
Not recently confirmedDirecteur général · since 22-03-2013
Jacques Isaac Castiau
Not recently confirmedDirector · since 30-03-2004
Mohamed El Boubsi
Not recently confirmedDirector · since 30-03-2004
24-03-2025
Patries Wichers: Appointed as Director
25-03-2024
Michel Nétens: Resigned as Director
20-03-2023
Anne-Catherine Chevalier: Resigned as Bestuursraad
20-03-2023
Fatima Abbach: Resigned as Bestuursraad
21-03-2022
Cassandre Fraenkel: Appointed as Director
Location & real-estate footprint
Registered office, Brussel · 1 establishment unit since 2008
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.
Reebokstraat 281000 BrusselGround area
1,554 m²
Building footprint
239 m²
Volume, LiDAR
5,425 m³
Parcel 21809K1058/00F000, Brussels · tallest building 26.9 m, ±8 floors. Linked by address, not a title deed.
1 establishment unit
Mus-E Belgium
since 20082.197.646.153
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21809K1058/00F000 | Brussels | 1,554 m² | 1 · 239 m² | 26.9 m · 8 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.
1 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).
Articles of association
Purpose
L'organisation à but non lucratif vise à développer, diffuser et soutenir des projets artistiques, inter-créatifs et participatifs fondés sur une vision pluraliste afin de mettre…
Full purpose
L'organisation à but non lucratif vise à développer, diffuser et soutenir des projets artistiques, inter-créatifs et participatifs fondés sur une vision pluraliste afin de mettre la puissance transformatrice de l'art et de l'imagination au service d'une société inclusive.
Structure & network
Connections & network
20 connected companiesLinked via shared directors
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Public money · subsidies and aid
Flemish government
2022 to 2025 · 10 entries · 1,112,329 EUR awarded · 1,070,751 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 3 | 305,706 EUR | 308,459 EUR |
| 2024 | 2 | 278,137 EUR | 263,778 EUR |
| 2023 | 3 | 265,075 EUR | 266,420 EUR |
| 2022 | 2 | 263,411 EUR | 232,094 EUR |
Schemes
Professionele kunsten: Werkingssubsidie voor een kunstenorganisatie voor een periode van 5 jaar (Kunstendecreet 2021)
Professionele kunsten: Werkingssubsidie voor een professionele kunstenorganisatie (Kunstendecreet 2013)
Projectsubsidies Vlaanderen - Brussel: subsidies voor projecten in Brussel
Sociaal-cultureel volwassenenwerk: Tussenkomst in de kosten voor een initiatief met buitenlandse actoren (Decreet Sociaal-cultureel Volwassenenwerk 2023)
Wallonia-Brussels Federation
2023 to 2025 · 5 entries · 25,200 EUR in total| Year | Entries | paid |
|---|---|---|
| 2025 | 2 | 9,000 EUR |
| 2024 | 2 | 9,000 EUR |
| 2023 | 1 | 7,200 EUR |
Budget allocations
Mise en œuvre du PECA
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Of 1,993 companies in sector 90120 we hold annual accounts for 209. 120 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 formNon-profit association
Founded22-12-1999
Fiscal year end31-12
Activities, NACEBEL 2025
90120Visual arts creation
Sources
Crossroads Bank for EnterprisesNational Bank · 9 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.