MSD Consulting
ActiveMSD Consulting has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €159k and a net result of €26k. Equity is growing by ~18.1% per year across the filed fiscal years. Its solvency ranks better than 87% of 31540 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
95
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability87▲+19
Solvency100▲+4
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €15k at 30 days acceptable
Liquidity ample (current ratio 7.87 against 2.84 in 2024; short-term debt: 10.7% and cash: 75.9% of total assets), and 10.7% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven 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 70
Relative position
BE, all sectors
reference
Sector 70
lower
← 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
89.3%
Return on assets
14.6%
Age of the figures
15 mo
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
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 08-12-2025, 54 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
54 d early
2024
53 d early
2023
41 d early
2022
43 d early
2021
10 d early
2020
26 d early
2019
7 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close17-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€159k▲ 18.1%
2024 · €135k
2019: €59k
2020: €82k
2021: €79k
2022: €62k
2023: €97k
2024: €135k
2019 → 2025
Total assets
€178k▼ 5.5%
2024 · €188k
2019: €130k
2020: €115k
2021: €104k
2022: €82k
2023: €124k
2024: €188k
2019 → 2025
Net result
€26k▼ 33.2%
2024 · €39k
2019: €47k
2020: €25k
2021: €-3k
2022: €-16k
2023: €36k
2024: €39k
2019 → 2025
Working capital
€130k▲ 32.0%
2024 · €99k
2019: €29k
2020: €60k
2021: €65k
2022: €54k
2023: €97k
2024: €99k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€79k-€62k▼ 21.4%€97k▲ 56.5%€135k▲ 38.4%€159k▲ 18.1%
Operating result€46k-€24k▼ 47.0%€45k▲ 85.4%€78k▲ 73.3%€35k▼ 54.7%
Net result€-3k-€-16k▼ 526%€36k€39k▲ 8.5%€26k▼ 33.2%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 55% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €178k
Fixed assets
€29k▼ 20.1%
Current assets
€149k▼ 2.1%
Equity and liabilities €178k
Equity
€159k▲ 18.1%
Debt
€19k▼ 64.7%
The debt ratio falls from 28.5% to 10.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€44k▼
2024 · €84k
Cash flow
€35k▼
2024 · €45k
Solvency
89.3%▲
2024 · 71.5%
Current ratio
7.87▲
2024 · 2.84
Quick ratio
7.87▲
2024 · 2.84
Debt / equity
0.12▼
2024 · 0.40
ROE
16.4%▼
2024 · 28.9%
ROA
14.6%▼
2024 · 20.7%
Interest coverage
18.32▲
2024 · 2.85
Debt
€19k▼
2024 · €54k
Debt ≤ 1 year
€19k▼
2024 · €54k
Income taxes
€8k▼
2024 · €11k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€188k€178k▼
Fixed assets21/28€36k€29k▼
Tangible fixed assets22/27€36k€29k▼
Furniture and vehicles24€36k€29k▼
Current assets29/58€152k€149k▼
Amounts receivable within one year40/41€21k€14k▼
Trade receivables40€21k€12k▼
Other amounts receivable41-€2k
Cash at bank and in hand54/58€130k€135k▲
Deferred charges and accrued income490/1€1k€660▼
Equity and liabilities
Total equity and liabilities10/49€188k€178k▼
Equity10/15€135k€159k▲
Contributions10/11€12k€12k=
Reserves13€122k€147k▲
Non-distributable reserves130/1€2k-
Reserves not available under the articles1311€2k-
Distributable reserves133€120k€147k▲
Amounts payable17/49€54k€19k▼
Amounts payable within one year42/48€54k€19k▼
Trade debts44€4k€3k▼
Suppliers440/4€4k€3k▼
Advances received on contracts in progress46€827-
Taxes, remuneration and social security45€16k€7k▼
Taxes450/3€16k€7k▼
Other amounts payable47/48€33k€9k▼
Income statement
Code20242025
Non-recurring operating income76A€17k-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€6k€9k▲
Other operating charges640/8€3k€2k▼
Gross operating margin9900€87k€46k▼
Operating profit (loss)9901€78k€35k▼
Financial income75/76B€973€1k▲
Recurring financial income75€973€1k▲
Financial charges65/66B€29k€2k▼
Recurring financial charges65€29k€2k▼
Profit (loss) for the period before taxes9903€50k€34k▼
Income taxes67/77€11k€8k▼
Profit (loss) for the period9904€39k€26k▼
Profit (loss) for the period to be appropriated9905€39k€26k▼
Appropriation of the result
Profit (loss) to be appropriated9906€39k€26k▼
Transfer to equity691/2€37k€24k▼
To other reserves6921€37k€24k▼
Profit to be distributed694/7€2k€2k▲
Return on contributions (dividend)694€2k€2k▲
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2025
08-12
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
30-06
Financial
Liquidity triplescurrent ratio 7.87
Current ratio from 2.84 to 7.87; short-term debt falls from €54k to €19k.
30-06
Financial
Equity above €150kEq €159k ▲18.1%
3 profitable years in a row build equity to €159k.
2024
09-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
30-06
Financial
Equity above €100kEq €135k ▲38.4%
2 profitable years in a row build equity to €135k.
2023
21-12
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
30-06
Financial
Back to profitnet €36k
Net result €36k after 2 loss-making years.
2022
19-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
30-06
Financial
Weakest financial yearnet €-16k
Net result drops to €-16k, the lowest in the series; recovery starts the following year.
21-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
05-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-06
Financial
Liquidity doublescurrent ratio 2.84
Current ratio from 1.41 to 2.84; short-term debt falls from €71k to €33k.
24-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 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, Ath · 1 establishment unit since 2018
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.
Rue de la Fosse(Maf) 527810 AthGround area
478 m²
Building footprint
53 m²
Volume, LiDAR
414 m³
Parcel 51040A0049/00H000, Wallonia · tallest building 9.0 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
MSD Consulting
since 20182.277.371.146
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 51040A0049/00H000 | Wallonia | 478 m² | 1 · 53 m² | 9.0 m · 3 fl. |
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.
Recognitions · licences · registrations
Legal Entity Identifier
254900TNWAE9XLPZJ078
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Of 82,524 companies in sector 70200 we hold annual accounts for 52,566. 40,751 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded03-07-2018
Fiscal year end30-06
Activities, NACEBEL
70200Business and other management consultancy
70220Business consulting
Sources
Crossroads Bank for EnterprisesNational Bank · 7 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.