Checked.be
Active
BE 0760.372.409Private limited company
MS RENTAL
Meerstraat 128 ·9220 Hamme (Vl.), Belgium· 5 yrs active
Sector: General construction of other non-residential buildings
(41003)
Conclusion
The computed 12-month bankruptcy probability of MS RENTAL is 2.3% (moderate). The 2025 annual accounts show equity of €25k and a net result of €-10k. Equity is growing by ~6.1% per year across the filed fiscal years. Its solvency ranks better than 14% of 52 sector peers (fiscal year 2025). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €25k |
| Net result | €-10k |
| Staff (FTE) | 2.5 |
| Better than sector | 14% |
Financial profile
37
/ 100
Fragile profile, watch solvency in particular.
All 5 axes are computed from data Checked has read.
Health
28
Profitability
33
Solvency
6
Growth
22
Stability
94
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
More than 3 years active
Founded in 2020, past the statistically most fragile first 3 years.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
28
/ 100
Weak
Computed from 6 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€500
estimate, not credit advice
Score history
81
2021
36
2022
51
2023
44
2024
28
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 0.43 (< 1.0)
-10
Quick ratio
Quick ratio 0.43 (< 0.6)
-5
Leverage
Debt/equity 10.10 (> 3.0)
-10
Profitability
Negatieve ROE -41%
-10
EBITDA margin
EBITDA-marge 22% (≥ 10%)
+8
Interest coverage
Interest coverage 7.8× (≥ 3×)
+8
Profit trend
Net profit down YoY
-3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 03-07-2026 with the NBB · fiscal year 2025 · full schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~6.1%/year over 5 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 41, Construction of residential and non-residential buildings · compared within the same schema type (full schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 9.0% | 32.8% | |
| Net result | €-10k | €24k | |
| Equity | €25k | €72k | |
| Total assets | €276k | €409k |
€205k
-24.1%
21-25
€45k
-20.5%
21-25
€-10k
-
21-25
€38k
-19.4%
21-25
€276k
-18.4%
21-25
€25k
-28.8%
21-25
€-98k
+4.5%
21-25
3
-37.5%
21-25
€119k
-32.9%
21-25
€393
-86.3%
21-25
€251k
-17.2%
21-25
€173k
-16.4%
21-25
€78k
-17.1%
21-25
0.43
-13.9%
21-25
0.43
-13.9%
21-25
9.0%
-12.7%
21-25
10.10
+16.3%
21-25
-40.5%
-
21-25
-3.7%
-
21-25
-4.9%
-
21-25
21.7%
+4.7%
21-25
7.85
-21.5%
21-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | full schema | full schema | micro schema | micro schema | micro schema |
| Revenue | €205k | €271k | - | - | - |
| EBITDA | €45k | €56k | €55k | €20k | €41k |
| Net profit | €-10k | €3k | €4k | €833 | €25k |
| Cash flow | €38k | €47k | €43k | €18k | €30k |
| Staff costs | €119k | €178k | €172k | €174k | €151k |
| Income taxes | €393 | €3k | €5k | - | €10k |
| Dividends | - | - | - | - | - |
| Total assets | €276k | €339k | €343k | €338k | €78k |
| Equity | €25k | €35k | €32k | €28k | €27k |
| Debt | €251k | €304k | €311k | €310k | €50k |
| of which ≤ 1y | €173k | €207k | €209k | €213k | €34k |
| of which > 1y | €78k | €95k | €102k | €97k | €16k |
| Working capital | €-98k | €-103k | €-112k | €-108k | €14k |
| Employees (FTE) | 2.5 | 4.0 | 4.1 | 4.4 | 4.0 |
Note: these years are not on the same basis. The filed schemas differ (full schema, micro schema), so the columns are not directly comparable.
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 0.43 | 0.50 | 0.46 | 0.49 | 1.42 |
| Quick ratio | 0.43 | 0.50 | 0.46 | 0.49 | 1.42 |
| Working capital ratio | -35.4% | -30.2% | -32.7% | -31.8% | 18.5% |
| Solvency | 9.0% | 10.3% | 9.4% | 8.3% | 35.0% |
| Debt / equity | 10.10 | 8.68 | 9.59 | 11.10 | 1.86 |
| Long-term debt ratio | 3.15 | 2.70 | 3.14 | 3.47 | 0.59 |
| Interest coverage | 7.85 | 9.99 | 8.16 | 9.72 | 27.60 |
| Gross margin | - | - | - | - | - |
| Net margin | -4.9% | 0.9% | - | - | - |
| ROA | -3.7% | 0.8% | 1.3% | 0.2% | 32.4% |
| ROE | -40.5% | 7.3% | 13.7% | 3.0% | 92.6% |
| EBITDA margin | 21.7% | 20.7% | - | - | - |
| Days sales outstanding | 61d | 49d | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (24 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €276k | €339k | €343k | €338k | €78k |
| Fixed assets | 21/28 | €201k | €234k | €247k | €233k | €29k |
| Tangible fixed assets | 22/27 | €201k | €234k | €247k | €233k | €29k |
| Current assets | 29/58 | €75k | €105k | €97k | €106k | €49k |
| Amounts receivable within one year | 40/41 | €39k | €36k | €40k | €48k | €26k |
| Cash & bank | 54/58 | €21k | €63k | €40k | €44k | €8k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €276k | €339k | €343k | €338k | €78k |
| Equity | 10/15 | €25k | €35k | €32k | €28k | €27k |
| Contributions / capital | 10/11 | €2k | €2k | €2k | €2k | €2k |
| Reserves | 13 | €30k | €33k | €30k | €26k | €25k |
| Accumulated profits (losses) | 14 | €-7k | - | - | - | - |
| Amounts payable | 17/49 | €251k | €304k | €311k | €310k | €50k |
| Amounts payable after one year | 17 | €78k | €95k | €102k | €97k | €16k |
| Amounts payable within one year | 42/48 | €173k | €207k | €209k | €213k | €34k |
| Trade debts payable within one year | 44 | €11k | €7k | €9k | €11k | €12k |
| Income statement | ||||||
| Turnover | 70 | €205k | €271k | - | - | - |
| Gross operating margin | 9900 | - | - | €227k | €195k | €215k |
| Operating result | 9901 | €-4k | €11k | €16k | €3k | €36k |
| Financial income | 75 | €0 | €0 | - | €0 | €262 |
| Financial charges | 65 | €6k | €6k | €7k | €2k | €1k |
| Result before taxes | 9903 | €-10k | €5k | €9k | €833 | €35k |
| Income taxes | 67/77 | €393 | €3k | €5k | - | €10k |
| Net result for the period | 9904 | €-10k | €3k | €4k | €833 | €25k |
| Result to be appropriated | 9905 | €-10k | €3k | €4k | €833 | €25k |
Legal Structure
| NACE primary | General construction of other non-residential buildings(41003) |
| Legal form | Private limited company(610) |
| Incorporation | 21-12-2020 |
| Status | Active |
| Postal code | 9220 |
Establishment units
MS RENTAL
since 20202.311.358.560
Real-estate footprint
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42452C1252/00R000 | Flanders | 912 m² | 1 · 146 m² | - |
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.
Updates
Next filing, fiscal year 2026, expected by
2026
03-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Weakest financial yearnet €-10k ▼494%
Net result drops to €-10k, the lowest in the series.
09-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
11-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
29-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
General construction of other non-residential buildings41003Other specialised construction activities43990Specialised construction activities43999Other business support services82990
Names & trade names
| Legal nameNL | MS RENTAL |
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