MS - Montage
ActiveSummary
The computed 12-month bankruptcy probability of MS - Montage is 1.7% (moderate). The 2024 annual accounts show equity of €384k and a net result of €74k. Equity is growing by ~25.1% per year across the filed fiscal years. Its solvency ranks better than 84% of 2437 sector peers (fiscal year 2024). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
82
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability88▲+7
Solvency100▲+8
Growth52=
Track record100
Bankruptcy probability, 12 months
1.7%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €30k at 30 days acceptable
Liquidity ample (current ratio 5.81 against 2.87 in 2023; short-term debt: 15.6% of total assets), and 20.2% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 25
Relative position
BE, all sectors
reference
Sector 25
higher
← 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 2024Solvency, return and age of the figures
Solvency
79.8%
Return on assets
15.4%
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 04-09-2025, 35 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 · 5 filingsDeviation from the deadline
2025
not confirmed
2024
35 d late
2023
60 d late
2022
28 d late
2021
17 d late
2020
39 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€384k▲ 27.6%
2023 · €301k
2020: €92k
2021: €218k
2022: €256k
2023: €301k
2020 → 2024
Total assets
€482k▲ 7.3%
2023 · €449k
2020: €198k
2021: €468k
2022: €361k
2023: €449k
2020 → 2024
Net result
€74k▲ 62.6%
2023 · €46k
2020: €89k
2021: €126k
2022: €37k
2023: €46k
2020 → 2024
Working capital
€362k▲ 43.8%
2023 · €252k
2020: €89k
2021: €178k
2022: €221k
2023: €252k
2020 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€92k-€218k▲ 137%€256k▲ 17.2%€301k▲ 17.8%€384k▲ 27.6%
Operating result€131k-€179k▲ 36.5%€55k▼ 69.0%€69k▲ 24.2%€109k▲ 57.8%
Net result€89k-€126k▲ 41.1%€37k▼ 70.3%€46k▲ 21.6%€74k▲ 62.6%
Turnover and EBIT margin not published: the abbreviated or 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 58% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €482k
Fixed assets
€44k ▼ 28.7%
Current assets
€438k ▲ 13.1%
Equity and liabilities €482k
Equity
€384k ▲ 27.6%
Debt
€97k ▼ 34.1%
Debt's share of the balance-sheet total falls from 32.9% to 20.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€128k▲
2023 · €86k
Cash flow
€94k▲
2023 · €62k
Current ratio
5.81▲
2023 · 2.87
Quick ratio
5.68▲
2023 · 2.80
Debt to equity
0.25▼
2023 · 0.49
ROE
19.3%▲
2023 · 15.1%
ROA
15.4%▲
2023 · 10.1%
Interest coverage
31.99▲
2023 · 28.88
Debt ≤ 1 year
€75k▼
2023 · €135k
Debt > 1 year
€5k▼
2023 · €13k
Income taxes
€34k▲
2023 · €22k
Staff costs
€146k▼
2023 · €152k
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 · 50 lines
Balance sheet
Code20232024
Assets
Total assets20/58€449k€482k▲
Fixed assets21/28€62k€44k▼
Tangible fixed assets22/27€62k€44k▼
Land and buildings22€13k€12k▼
Plant, machinery and equipment23€27k€17k▼
Furniture and vehicles24€22k€15k▼
Current assets29/58€387k€438k▲
Stocks and contracts in progress3€10k€10k=
Stocks30/36€10k€10k=
Amounts receivable within one year40/41€319k€422k▲
Trade receivables40€83k€70k▼
Other amounts receivable41€236k€353k▲
Cash at bank and in hand54/58€58k-
Deferred charges and accrued income490/1-€6k
Equity and liabilities
Total equity and liabilities10/49€449k€482k▲
Equity10/15€301k€384k▲
Contributions10/11€3k€3k=
Reserves13€299k€382k▲
Distributable reserves133€299k€382k▲
Amounts payable17/49€148k€97k▼
Amounts payable after more than one year17€13k€5k▼
Financial debts170/4€13k€5k▼
Amounts payable within one year42/48€135k€75k▼
Current portion of amounts payable after more than one year42€8k€8k▲
Financial debts43-€9k
Credit institutions430/8-€9k
Trade debts44€42k€23k▼
Suppliers440/4€42k€23k▼
Taxes, remuneration and social security45€51k€35k▼
Taxes450/3€22k€30k▲
Remuneration and social security454/9€29k€5k▼
Other amounts payable47/48€34k-
Accrued charges and deferred income492/3-€17k
Income statement
Code20232024
Remuneration, social security and pensions62€152k€146k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€17k€20k▲
Other operating charges640/8€26k€24k▼
Gross operating margin9900€264k€298k▲
Operating profit (loss)9901€69k€109k▲
Financial income75/76B€2k€3k▲
Recurring financial income75€2k€3k▲
Financial charges65/66B€3k€4k▲
Recurring financial charges65€3k€4k▲
Profit (loss) for the period before taxes9903€68k€108k▲
Income taxes67/77€22k€34k▲
Profit (loss) for the period9904€46k€74k▲
Profit (loss) for the period to be appropriated9905€46k€74k▲
Appropriation of the result
Profit (loss) to be appropriated9906€46k€74k▲
Transfer to equity691/2€46k€74k▲
To other reserves6921€46k€74k▲
Social balance
Average headcount (FTE)90873.1-
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
04-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 35 days late
2024
31-12
Financial
Liquidity doublescurrent ratio 5.81
Current ratio from 2.87 to 5.81; short-term debt falls from €135k to €75k.
29-09
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 60 days late
2023
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 28 days late
2022
31-12
Financial
Weakest financial yearnet €37k ▼70.3%
Net result drops to €37k, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity doublescurrent ratio 3.62
Current ratio from 1.81 to 3.62; short-term debt falls from €221k to €84k.
17-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 17 days late
2021
31-12
Financial
Highest result since 2020net €126k ▲41.1%
Operating result €179k, net result €126k, both a record.
31-12
Financial
Equity above €200kEq €218k ▲137%
2 profitable years in a row build equity to €218k.
22-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
5 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, Leopoldsburg · 1 establishment unit since 2019
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.
Pater Asteerstraat 793970 LeopoldsburgGround area
399 m²
Building footprint
108 m²
Volume, LiDAR
49 m³
Parcel 71034A3038/00T002, Flanders · tallest building 16.4 m. Linked by address, not a title deed.
1 establishment unit
MS - Montage
since 20192.293.479.084
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71034A3038/00T002 | Flanders | 399 m² | 1 · 108 m² | 16.4 m |
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.
Similar companies · same sector, comparable size
L.M. Diving Service
BE 0477.316.709
Oudenaarde · Eq €384,823
Bemepro
BE 0844.962.644
Menen · Eq €384,863
MARIMAN DAK & WAND
BE 0887.186.546
Stekene · Eq €382,829
UYDENS PAUL METAALBEWERKING
BE 0462.134.922
Brecht · Eq €386,395
CVM
BE 0828.852.726
De Panne · Eq €382,109
Of 3,986 companies in sector 25110 we hold annual accounts for 2,147. 1,618 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 formPrivate limited company
Founded13-09-2019
Fiscal year end31-12
Activities, NACEBEL 2025
25110Manufacture of metal structures and parts of structures
41003General construction of other non-residential buildings
43341Painting of buildings
Sources
Crossroads Bank for EnterprisesNational Bank · 5 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.