MUSKIN
ActiveSummary
MUSKIN has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €279,685 and a net result of €137,079. Equity is growing by ~19.7% per year across the filed fiscal years. Its solvency ranks better than 23% of 16765 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability84▲+3
Solvency50▼-50
Growth58▼-20
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €19,000 at 30 days acceptable
Liquidity short (current ratio 0.43 against 2.92 in 2024; short-term debt: 74.4% and cash: 27.5% of total assets), and 74.5% of the assets are financed with debt.
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Signals
Six 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 86
Relative position
BE, all sectors
reference
Human health activities (NACE 86)
about 87% fewer bankruptcies
← 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
25.5%
Return on assets
12.5%
Age of the figures
9 mo
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
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 23% of 16765 sector peers (2025).
NBB · sector comparisonPosition among 16765 sector peers
Solvency
better than 23%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 14-09-2026, 45 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 · 10 filingsDeviation from the deadline
2025
45 d late
2024
8 d late
2023
28 d late
2022
28 d late
2021
4 d early
2020
26 d late
2019
27 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 23 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
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. Usually files around 28 August (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€137,079▲ 28.3%
2024 · €106,827
Working capital
-€469,065
2024 · €298,971
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 86, Human health activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€166,827▲ 70.1%€113,516▼ 32.0%€159,488▲ 40.5%€146,070▼ 8.4%€191,608▲ 31.2%
Net result€133,025above the sector's middle half▲ 57.7%€96,323within the sector's middle half▼ 27.6%€122,934above the sector's middle half▲ 27.6%€106,827within the sector's middle half▼ 13.1%€137,079above the sector's middle half▲ 28.3%
Equity€593,422above the sector's middle half▲ 28.9%€689,745above the sector's middle half▲ 16.2%€812,679above the sector's middle half▲ 17.8%€919,506above the sector's middle half▲ 13.1%€279,685within the sector's middle half▼ 69.6%
Total assets€708,605above the sector's middle half▲ 26.7%€825,410above the sector's middle half▲ 16.5%€951,947above the sector's middle half▲ 15.3%€1.1mabove the sector's middle half▲ 13.1%€1.1mabove the sector's middle half▲ 1.9%
Debt€115,183▲ 16.6%€135,664▲ 17.8%€139,268▲ 2.7%€157,446▲ 13.1%€817,793▲ 419%
Working capital€260,507within the sector's middle half▲ 31.6%€273,636above the sector's middle half▲ 5.0%€360,084above the sector's middle half▲ 31.6%€298,971above the sector's middle half▼ 17.0%-€469,065below the sector's middle half
Solvency83.7%above the sector's middle half▲ 1.4pp83.6%above the sector's middle half▼ 0.2pp85.4%above the sector's middle half▲ 1.8pp85.4%within the sector's middle half=25.5%below the sector's middle half▼ 59.9pp
Current ratio3.26within the sector's middle half▲ 0.263.27within the sector's middle half▲ 0.013.60within the sector's middle half▲ 0.342.92within the sector's middle half▼ 0.690.43below the sector's middle half▼ 2.49
Return on assets (ROA)18.8%within the sector's middle half▲ 3.7pp11.7%within the sector's middle half▼ 7.1pp12.9%within the sector's middle half▲ 1.2pp9.9%within the sector's middle half▼ 3.0pp12.5%within the sector's middle half▲ 2.6pp
above
within
below
the middle half (P25 to P75) of NACE 86, Human health activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 31% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.1m
Fixed assets
€750,381 ▲ 20.7%
Current assets
€347,097 ▼ 23.7%
Equity and liabilities €1.1m
Equity
€279,685 ▼ 69.6%
Debt
€817,793 ▲ 419%
Debt's share of the balance-sheet total rises from 14.6% to 74.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€194,380▲
2024 · €166,011
Cash flow
€139,851▲
2024 · €126,768
Debt to equity
2.92▲
2024 · 0.17
ROE
49.0%▲
2024 · 11.6%
Interest coverage
18.94▲
2024 · 17.27
Debt ≤ 1 year
€816,162▲
2024 · €156,085
Income taxes
€53,520▲
2024 · €34,494
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 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €21,030 | €21,454 | €20,248 | €19,941 | €2,772 | ▼ 86.1% |
| Other operating charges640/8 | €517 | €538 | €476 | €547 | €1,099 | ▲ 101% |
| Gross operating margin9900 | €188,375 | €135,508 | €180,212 | €166,559 | €195,479 | ▲ 17.4% |
| Operating profit (loss)9901 | €166,827 | €113,516 | €159,488 | €146,070 | €191,608 | ▲ 31.2% |
| Financial income75/76B | €3,664 | €6,992 | €2,753 | €4,864 | €9,253 | ▲ 90.2% |
| Recurring financial income75 | €3,664 | €6,992 | €2,753 | €4,864 | €9,253 | ▲ 90.2% |
| Financial charges65/66B | €130 | €3,815 | €5,812 | €9,613 | €10,262 | ▲ 6.8% |
| Recurring financial charges65 | €130 | €3,815 | €5,812 | €9,613 | €10,262 | ▲ 6.8% |
| Profit (loss) for the period before taxes9903 | €170,361 | €116,693 | €156,429 | €141,321 | €190,599 | ▲ 34.9% |
| Income taxes67/77 | €37,336 | €20,369 | €33,496 | €34,494 | €53,520 | ▲ 55.2% |
| Profit (loss) for the period9904 | €133,025 | €96,323 | €122,934 | €106,827 | €137,079 | ▲ 28.3% |
| Transfer to tax-exempt reserves689 | - | €58,940 | - | €63,150 | - | - |
| Profit (loss) for the period to be appropriated9905 | €133,025 | €37,383 | €122,934 | €43,677 | €137,079 | ▲ 214% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €708,605 | €825,410 | €951,947 | €1.1m | €1.1m | ▲ 1.9% |
| Fixed assets21/28 | €332,915 | €431,110 | €453,595 | €621,896 | €750,381 | ▲ 20.7% |
| Intangible fixed assets21 | €51,000 | €34,000 | €17,000 | - | - | - |
| Tangible fixed assets22/27 | €17,649 | €15,494 | €12,246 | €10,154 | €12,162 | ▲ 19.8% |
| Plant, machinery and equipment23 | €2,830 | €2,839 | €1,451 | €1,219 | €2,735 | ▲ 124% |
| Furniture and vehicles24 | €1,335 | - | - | - | €1,371 | - |
| Other tangible fixed assets26 | €13,484 | €12,655 | €10,795 | €8,936 | €8,055 | ▼ 9.9% |
| Financial fixed assets28 | €264,267 | €381,615 | €424,348 | €611,742 | €738,219 | ▲ 20.7% |
| Current assets29/58 | €375,690 | €394,300 | €498,352 | €455,056 | €347,097 | ▼ 23.7% |
| Amounts receivable within one year40/41 | €3,639 | €13,457 | - | - | - | - |
| Trade receivables40 | €3,639 | - | - | - | - | - |
| Other amounts receivable41 | - | €13,457 | - | - | - | - |
| Cash at bank and in hand54/58 | €331,476 | €339,362 | €449,020 | €411,995 | €301,311 | ▼ 26.9% |
| Deferred charges and accrued income490/1 | €40,576 | €41,481 | €49,333 | €43,061 | €45,786 | ▲ 6.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €708,605 | €825,410 | €951,947 | €1.1m | €1.1m | ▲ 1.9% |
| Equity10/15 | €593,422 | €689,745 | €812,679 | €919,506 | €279,685 | ▼ 69.6% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €60,800 | €60,800 | €123,950 | €123,950 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Tax-exempt reserves132 | - | €58,940 | €58,940 | €122,090 | €122,090 | = |
| Profit (loss) carried forward14 | €572,962 | €610,345 | €733,279 | €776,956 | €137,135 | ▼ 82.3% |
| Amounts payable17/49 | €115,183 | €135,664 | €139,268 | €157,446 | €817,793 | ▲ 419% |
| Amounts payable within one year42/48 | €115,183 | €120,664 | €138,268 | €156,085 | €816,162 | ▲ 423% |
| Trade debts44 | €7,897 | €2,707 | €6,249 | €566 | €47 | ▼ 91.7% |
| Suppliers440/4 | €7,897 | €2,707 | €6,249 | €566 | €47 | ▼ 91.7% |
| Taxes, remuneration and social security45 | €18,237 | €18,152 | €18,027 | €17,109 | €133,872 | ▲ 682% |
| Taxes450/3 | €18,237 | €18,152 | €15,203 | €17,109 | €133,872 | ▲ 682% |
| Remuneration and social security454/9 | - | - | €2,824 | - | - | - |
| Other amounts payable47/48 | €89,049 | €99,805 | €113,992 | €138,410 | €682,243 | ▲ 393% |
| Accrued charges and deferred income492/3 | - | €15,000 | €1,000 | €1,361 | €1,631 | ▲ 19.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €133,025 | €96,323 | €122,934 | €106,827 | €137,079 | ▲ 28.3% |
| + Depreciation and write-downs630 | €21,030 | €21,454 | €20,248 | €19,941 | €2,772 | ▼ 86.1% |
| Operating cash flow (approximation) | €154,055 | €117,777 | €143,182 | €126,768 | €139,851 | ▲ 10.3% |
| Investment in fixed assets (approximation) | - | -€119,648 | -€42,733 | -€188,243 | -€131,256 | ▲ 30.3% |
| Change in cash | - | €7,886 | €109,657 | -€37,025 | -€110,684 | ▼ 199% |
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
Next filing, fiscal year 2026, expected by
2026
14-09
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 45 days late
2025
31-12
Financial
Highest result since 2018net €137,079 ▲28.3%
Operating result €191,608, net result €137,079, both a record.
08-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 8 days late
2024
28-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 28 days late
2023
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 28 days late
2022
27-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Equity above €500,000Eq €593,422 ▲28.9%
4 profitable years in a row build equity to €593,422.
26-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 26 days late
2020
27-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 27 days late
2019
02-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 2 days late
2018
12-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
21-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 21 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Sint-Pieters-Woluwe · 1 establishment unit since 2014
Ground area
1,394 m²
Building footprint
354 m²
Volume, LiDAR
2,470 m³
2 parcels, Brussels · tallest building 14.2 m, ±4 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
MUSKIN
since 20142.239.179.474
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21683D0250/00K002 | Brussels | 1,185 m² | 1 · 274 m² | 9.2 m · 2 fl. |
| 21018B0177/00W000 | Brussels | 209 m² | 1 · 80 m² | 14.2 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 16,627 companies in sector 86220 we hold annual accounts for 7,988. 6,690 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
Founded24-12-2014
Fiscal year end31-12
Activities, NACEBEL 2025
86220Specialist medical practice
86109Human health activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0507722249
Also
9925:BE0507722249
Registered
29-11-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.