Debts
€299,127 84% of the balance sheet
Suppliers 25%Taxes and wages 16%Other 58%
Of this, €296,382 falls due within a year.
NMSG
Lifetime
13 annual accounts with figures on one time axispeak €93,129 (2024)
€53,638▼ 42.4%
lowest -€30,132 (2011)
€26,704▼ 34.5%
peak €58,013 (2025)
€58,013▲ 85.3%
€299,127▲ 522%
Board3 names since 2019
2 directorsFeng Yuan and 1 other
Documentsfilings and deeds
02-10-202663 days late
2025abbreviated format
Gross margin from €93,129 to €53,638Result from €40,757 to €26,704Equity from €31,309 to €58,013Debts from €48,114 to €299,127Investments €38,825
Key points
from the 2025 annual accountsInvestments
€46,856 4.2 × depreciation
Green is investment, beige is depreciation.
Filings
13 annual accounts 63 days
Latest accounts filed late: after the legal deadline.
Checked score
83
Excellent
Financially stronger than 47% of micro companies without a NACE code
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.4% Very low
0%0.5%1.5%4%10%≥ 25%
About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.9%
01-2025: 0.8%▼ -0.1 percentage points vs 12-2024
02-2025: 0.9%▲ +0.1 percentage points vs 01-2025
03-2025: 0.9%● unchanged vs 02-2025
04-2025: 0.8%▼ -0.1 percentage points vs 03-2025
05-2025: 0.8%● unchanged vs 04-2025
06-2025: 0.9%▲ +0.1 percentage points vs 05-2025
07-2025: 0.9%● unchanged vs 06-2025
08-2025: 1.3%▲ +0.4 percentage points vs 07-2025highest value
09-2025: 0.4%▼ -0.9 percentage points vs 08-2025
10-2025: 0.4%● unchanged vs 09-2025
11-2025: 0.4%● unchanged vs 10-2025
12-2025: 0.4%● unchanged vs 11-2025
01-2026: 0.4%● unchanged vs 12-2025
02-2026: 0.4%● unchanged vs 01-2026
03-2026: 0.3%▼ -0.1 percentage points vs 02-2026
04-2026: 0.3%● unchanged vs 03-2026
05-2026: 0.3%● unchanged vs 04-2026lowest value
06-2026: 0.3%● unchanged vs 05-2026
07-2026: 0.3%● unchanged vs 06-2026
08-2026: 0.6%▲ +0.3 percentage points vs 07-2026
09-2026: 0.7%▲ +0.1 percentage points vs 08-2026
10-2026: 0.4%▼ -0.3 percentage points vs 09-2026
11-2026: 0.4%● unchanged vs 10-2026
Financial strengthAverage
Score breakdown
raises risk
Last filed accounts filed 63 days late; 2 of the last 3 accounts late
lowers risk
Size: total assets €357,140
Founded in 2010
No main activity registered
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (no NACE code, micro). It does better than 26% of them on solvency, 11% on liquidity, 61% on profitability and 91% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 5,053 companies had the same profile as NMSG has now. Each dot stands for 13 companies, two years later.
95.9%
were still trading
2.4%
stopped another way
1.6%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of NMSG itself: 0.4% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 5,053 companies, not a prediction for NMSG. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €4,500 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.01 (1.07 in 2024), below the usual 1.5. Short-term debt is 83% and cash 8.3% of total assets. 83.8% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises risk
raises risk · 2025 accounts filed 63 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 02-10-2026, 63 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
63 days late
2024
29 days late
2023
73 days late
2022
29 days late
2021
34 days early
2020
41 days late
2019
63 days late
← before the deadline
after the deadline →
tick = median of all Belgian filings
The company filed its last 7 accounts on average 38 days after the deadline. The Belgian median for financial year 2024 was 4 days before the deadline, and 38% of all filings were late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 29 August (4 of the last 5 accounts filed within 45 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- Yuan FENG 70 sharesdeed of 04-12-2019
- Hua NING 30 sharesdeed of 04-12-2019
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0828945667
Official details
Source: KBO- Status
- Active since 02-09-2010Normal situation
- Activity
- Wholesale of other household goodsNACE 46499and 7 others
- Establishment unit
- 2.193.727.2549320 Aalst, since 01-10-2010
- Financial year end
- 31 December
- Peppol
- Reachable since 28-01-2026
Insights on NMSG
NMSG files the abbreviated format. That format states no turnover. The gross margin rose from -€24,772 in 2011 to €53,638 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about NMSG
- What is the company number of NMSG?
- The company number of NMSG is 0828.945.667. The VAT number is the same number with BE in front: BE 0828.945.667.
- Where is NMSG based?
- The registered office is at Restert 93, 9320 Aalst.Company details
- What is the legal form of NMSG?
- NMSG is a private limited company (BV).
- When was NMSG founded?
- NMSG was founded on 02-09-2010.
- Is NMSG still active?
- Yes, NMSG is an active enterprise in the KBO register.
- What is the turnover of NMSG?
- The turnover in financial year 2025 is ≈ €150,000. This figure is estimated from the gross margin of €53,638 and 1,300 comparable companies of the same size. It probably lies between €92,000 and €290,000. It is a rough estimate.Financials
- Is NMSG profitable?
- In financial year 2025, NMSG made a profit of €26,704.
- Where can I find the annual accounts of NMSG?
- NMSG filed 13 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of NMSG due?
- NMSG must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Check which of your other customers you can e-invoice via Peppol.Peppol check Compare this company with its sector.Sector benchmark See what changed in the latest annual accounts.What changed
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