NMSG
ActiveSummary
NMSG has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €31,309 and a net result of €40,757. The figures fluctuate too strongly year-on-year for a reliable trend projection. The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability100▲+34
Solvency64▲+48
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000 at 30 days acceptable
Liquidity tight (current ratio 1.07 against 0.64 in 2023; short-term debt: 57.5% and cash: 48.9% of total assets), and 60.6% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · 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
39.4%
Return on assets
51.3%
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 · 10 filingsDeviation from the deadline
2025
not confirmed
2024
29 d late
2023
73 d late
2022
29 d late
2021
34 d early
2020
41 d late
2019
63 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 6 accounts on average 34 days after 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)
History
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Financials · fiscal year 2024, micro schema
Equity
€31,309
2023 · -€9,448
Total assets
€79,423▼ 25.0%
2023 · €105,841
Net result
€40,757
2023 · -€2,115
Working capital
€3,092
2023 · -€40,838
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
Line20202021202220232024
Operating result-€6,897€5,075-€7,163€7,081€66,802▲ 843%
Net result-€6,987€4,753-€8,132-€2,115▲ 74.0%€40,757
Equity-€3,954€799-€7,333-€9,448▼ 28.8%€31,309
Total assets€76,446▲ 107%€85,718▲ 12.1%€79,240▼ 7.6%€105,841▲ 33.6%€79,423▼ 25.0%
Debt€80,400▲ 138%€84,919▲ 5.6%€86,573▲ 1.9%€115,289▲ 33.2%€48,114▼ 58.3%
Working capital-€7,313-€2,853▲ 61.0%-€49,816▼ 1,646%-€40,838▲ 18.0%€3,092
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 843% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €79,423
Fixed assets
€30,697 ▼ 8.3%
Current assets
€48,726 ▼ 32.7%
Equity and liabilities €79,423
Equity
€31,309
Debt
€48,114
Debt finances 60.6% of the balance-sheet total.
Key figures and ratios
EBITDA
€88,784▲
2023 · €26,341
Cash flow
€62,739▲
2023 · €17,145
Current ratio
1.07▲
2023 · 0.64
Debt to equity
1.54▲
2023 · -12.20
ROE
130.2%
ROA
51.3%▲
2023 · -2.0%
Interest coverage
59.19▲
2023 · 16.15
Debt ≤ 1 year
€45,634▼
2023 · €113,189
Income taxes
€24,653▲
2023 · €7,565
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €866 | €1,271 | €8,220 | €19,260 | €21,982 | ▲ 14.1% |
| Other operating charges640/8 | - | €815 | €4,238 | €7,675 | €4,345 | ▼ 43.4% |
| Gross operating margin9900 | -€4,199 | €7,161 | €5,295 | €34,016 | €93,129 | ▲ 174% |
| Operating profit (loss)9901 | -€6,897 | €5,075 | -€7,163 | €7,081 | €66,802 | ▲ 843% |
| Financial income75/76B | - | - | €2 | - | €108 | - |
| Recurring financial income75 | - | - | €2 | - | €108 | - |
| Financial charges65/66B | - | €322 | €601 | €1,631 | €1,500 | ▼ 8.0% |
| Recurring financial charges65 | €90 | €322 | €601 | €1,631 | €1,500 | ▼ 8.0% |
| Profit (loss) for the period before taxes9903 | -€6,987 | €4,753 | -€7,762 | €5,450 | €65,410 | ▲ 1,100% |
| Income taxes67/77 | - | - | €370 | €7,565 | €24,653 | ▲ 226% |
| Profit (loss) for the period9904 | -€6,987 | €4,753 | -€8,132 | -€2,115 | €40,757 | ▲ 2,027% |
| Profit (loss) for the period to be appropriated9905 | -€6,987 | €4,753 | -€8,132 | -€2,115 | €40,757 | ▲ 2,027% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €76,446 | €85,718 | €79,240 | €105,841 | €79,423 | ▼ 25.0% |
| Fixed assets21/28 | €3,359 | €5,179 | €44,828 | €33,490 | €30,697 | ▼ 8.3% |
| Tangible fixed assets22/27 | €2,759 | €4,579 | €44,308 | €32,970 | €29,077 | ▼ 11.8% |
| Furniture and vehicles24 | - | €4,579 | €43,144 | €31,935 | €28,171 | ▼ 11.8% |
| Other tangible fixed assets26 | - | - | €1,164 | €1,035 | €906 | ▼ 12.5% |
| Financial fixed assets28 | €600 | €600 | €520 | €520 | €1,620 | ▲ 212% |
| Current assets29/58 | €73,087 | €80,539 | €34,412 | €72,351 | €48,726 | ▼ 32.7% |
| Amounts receivable within one year40/41 | €6,197 | €6,884 | €10,817 | €36,426 | €5,914 | ▼ 83.8% |
| Trade receivables40 | - | €6,880 | €10,817 | €36,422 | €5,914 | ▼ 83.8% |
| Other amounts receivable41 | - | €4 | - | €4 | - | - |
| Cash at bank and in hand54/58 | €66,890 | €73,655 | €23,595 | €35,925 | €38,865 | ▲ 8.2% |
| Deferred charges and accrued income490/1 | - | - | - | - | €3,947 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €76,446 | €85,718 | €79,240 | €105,841 | €79,423 | ▼ 25.0% |
| Equity10/15 | -€3,954 | €799 | -€7,333 | -€9,448 | €31,309 | ▲ 431% |
| Contributions10/11 | €28,000 | €28,000 | €28,000 | €28,000 | €28,000 | = |
| Outside capital11 | - | €28,000 | €28,000 | €28,000 | €28,000 | = |
| Other1109/19 | - | €28,000 | €28,000 | €28,000 | €28,000 | = |
| Profit (loss) carried forward14 | -€31,954 | -€27,201 | -€35,333 | -€37,448 | €3,309 | ▲ 109% |
| Amounts payable17/49 | €80,400 | €84,919 | €86,573 | €115,289 | €48,114 | ▼ 58.3% |
| Amounts payable within one year42/48 | €80,400 | €83,392 | €84,228 | €113,189 | €45,634 | ▼ 59.7% |
| Trade debts44 | €1,469 | €3,590 | €753 | €14,557 | €1,304 | ▼ 91.0% |
| Suppliers440/4 | - | €3,590 | €753 | €14,557 | €1,304 | ▼ 91.0% |
| Advances received on contracts in progress46 | - | €55,138 | €55,138 | €55,138 | - | - |
| Taxes, remuneration and social security45 | - | €2,443 | €5,982 | €19,705 | €26,969 | ▲ 36.9% |
| Taxes450/3 | - | €2,443 | €5,982 | €19,705 | €26,969 | ▲ 36.9% |
| Other amounts payable47/48 | - | €22,221 | €22,355 | €23,789 | €17,361 | ▼ 27.0% |
| Accrued charges and deferred income492/3 | - | €1,527 | €2,345 | €2,100 | €2,480 | ▲ 18.1% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€6,987 | €4,753 | -€8,132 | -€2,115 | €40,757 | ▲ 2,027% |
| + Depreciation and write-downs630 | €866 | €1,271 | €8,220 | €19,260 | €21,982 | ▲ 14.1% |
| Operating cash flow (approximation) | -€6,121 | €6,024 | €88 | €17,145 | €62,739 | ▲ 266% |
| Investment in fixed assets (approximation) | - | -€3,091 | -€47,869 | -€7,922 | -€19,189 | ▼ 142% |
| Change in cash | - | €6,765 | -€50,060 | €12,330 | €2,940 | ▼ 76.2% |
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
Back to profitnet €40,757
Net result €40,757 after 2 loss-making years.
12-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 73 days late
2023
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 29 days late
2022
31-12
Financial
Weakest financial yearnet -€8,132
Net result drops to -€8,132, the lowest in the series; recovery starts the following year.
27-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €4,753
Net result €4,753 after one loss-making year.
10-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 41 days late
2020
02-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 63 days late
2019
31-12
Financial
Back to profitnet €25,766
Net result €25,766 after one loss-making year.
05-11
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 97 days late
2018
19-12
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 141 days late
2015
17-11
NBB filing
Annual accounts filed
fiscal year 2014 · full schema · 109 days late
2014
28-08
NBB filing
Annual accounts filed
fiscal year 2013 · full schema · 28 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 9 acts read
About the unread acts
We know of 9 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
9 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, Aalst · 1 establishment unit since 2010
Ground area
170 m²
Building footprint
83 m²
Volume, LiDAR
481 m³
Parcel 41047B0396/00B000, Flanders · tallest building 9.0 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
PINWHEELS' SQUARE
since 20102.193.727.254
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41047B0396/00B000 | Flanders | 170 m² | 1 · 83 m² | 8.9 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Identification & contact
Identification
Legal formPrivate limited company
Founded02-09-2010
Fiscal year end31-12
Activities, NACEBEL 2025
46499Wholesale of other household goods
49320Non-scheduled passenger transport by road
74201Photography, excluding press photography
79110Travel agency activities
82300Organisation of conventions and trade shows
85520Cultural education
85599Other education
Contact
Phone
0488940477
Scores and ratios are computed by Checked and are not a credit decision.