MSG PRO
The computed 12-month bankruptcy probability of MSG PRO is 20.2% (high). The 2024 annual accounts show equity of €6k and a net result of €-16k. Equity is shrinking by ~37.1% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2025. Its solvency ranks better than 19% of 11120 sector peers (fiscal year 2024). The company has been active since 2021 and the Belgian State Gazette contains no insolvency signals. The CBE does carry 2 administrative register entries (see administrative flags).
| Equity | €6k |
| Net result | €-16k |
| Better than sector | 19% |
| Active | 5 yrs |
Fragile profile, watch profitability in particular.
All 5 axes are computed from data Checked has read.
Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?
The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.
See plans →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).
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 13.1% | 40.9% | |
| Net result | €-16k | €11k | |
| Equity | €6k | €34k | |
| Gross operating margin | €-7k | €35k | |
| Total assets | €43k | €94k |
Show 9 other metrics
| Fiscal year | 2024 |
|---|---|
| Deposit | micro |
| Revenue | - |
| EBITDA | €-9k |
| Net profit | €-16k |
| Cash flow | €-15k |
| Staff costs | - |
| Income taxes | €5k |
| Dividends | - |
| Total assets | €43k |
| Equity | €6k |
| Debt | €37k |
| of which ≤ 1y | €37k |
| of which > 1y | - |
| Working capital | €6k |
| Employees (FTE) | - |
| 2024 | |
|---|---|
| Current ratio | 1.15 |
| Quick ratio | 0.07 |
| Working capital ratio | 13.1% |
| Solvency | 13.1% |
| Debt / equity | 6.64 |
| Long-term debt ratio | - |
| Interest coverage | -25.97 |
| Gross margin | - |
| Net margin | - |
| ROA | -38.4% |
| ROE | -293.1% |
| EBITDA margin | - |
| Days sales outstanding | - |
| Days payable outstanding | - |
| Inventory turnover | - |
| Days inventory (DSI) | - |
Full annual accounts (18 line items)
| Line item | Code | 2024 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €43k |
| Current assets | 29/58 | €43k |
| Stocks & contracts in progress | 3 | €40k |
| Amounts receivable within one year | 40/41 | €3k |
| Cash & bank | 54/58 | €2 |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €43k |
| Equity | 10/15 | €6k |
| Contributions / capital | 10/11 | €3k |
| Accumulated profits (losses) | 14 | €3k |
| Amounts payable | 17/49 | €37k |
| Amounts payable within one year | 42/48 | €37k |
| Income statement | ||
| Gross operating margin | 9900 | €-7k |
| Operating result | 9901 | €-11k |
| Financial charges | 65 | €355 |
| Result before taxes | 9903 | €-11k |
| Income taxes | 67/77 | €5k |
| Net result for the period | 9904 | €-16k |
| Result to be appropriated | 9905 | €-16k |
Former directors (1)
-
Former- → 01-06-2026
| NACE primary | Installatie van isolatie(43230) |
| Legal form | Private limited company(610) |
| Incorporation | 15-06-2021 |
| Status | Active |
| Postal code | 1830 |
Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23047A0359/00P000 | Flanders | 568 m² | 1 · 366 m² | 6.8 m · 1 fl. |
A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.
The full chronology lists every recorded event with its date, the competent court and the appointed liquidator or administrator. It answers at which stage the proceedings stand and whether they are still running.
We hold 1 further earlier event in this file, covering 22-07-2025 to 15-09-2025.
Of the 3 Belgian State Gazette acts we know for this company, 1 has been read. The other 2 have not been read yet: what they contain is neither established nor disproved here.
14-08-2026 Act object · General meeting · Seat change · Officer resignation
- Act object: ZETEL, ONTSLAGEN, BENOEMINGEN · MSG PRO
- Publication: 14/08/2026 · MSG PRO
- Filing: 12-08-2026 · MSG PRO
- General meeting: 1 juni 2026 · MSG PRO
- Seat change: to: Grote Baan(WSP) 122, 3150 Haacht, from: Nieuwbrugstraat 66 1830 Machelen, effective_date: 2026-06-01 · MSG PRO
- Officer resignation: role: bestuurder, end_date: 2026-06-01 · Shkëlqesë Ibraj
- Filing representative: lasthebber · Amraoui Leila
Technical details
{
"facts": [
{
"type": "act_object",
"quote": "Onderwerp akte: ZETEL, ONTSLAGEN, BENOEMINGEN",
"value": "ZETEL, ONTSLAGEN, BENOEMINGEN",
"object": null,
"subject": "e1"
},
{
"date": "2026-08-14",
"type": "publication",
"quote": "Bijlagen bij het Belgisch Staatsblad - 14/08/2026",
"value": "14/08/2026",
"object": null,
"subject": "e1"
},
{
"date": "2026-08-12",
"type": "filing",
"quote": "Neergelegd 12-08-2026",
"value": "12-08-2026",
"object": null,
"subject": "e1"
},
{
"date": "2026-06-01",
"type": "general_meeting",
"quote": "Buitengewone algemene vergadering van 1 juni 2026",
"value": "1 juni 2026",
"object": null,
"subject": "e1"
},
{
"date": "2026-06-01",
"type": "seat_change",
"quote": "De zetel van de onderneming wordt overgebracht met ingang van 1 juni 2026 naar het volgende adres: Grote Baan(WSP) 122, 3150 Haacht.",
"value": {
"to": "Grote Baan(WSP) 122, 3150 Haacht",
"from": "Nieuwbrugstraat 66 1830 Machelen",
"effective_date": "2026-06-01"
},
"object": null,
"subject": "e1",
"_value_raw": {
"to": "Grote Baan(WSP) 122, 3150 Haacht",
"from": "Nieuwbrugstraat 66 1830 Machelen",
"effective_date": "1 juni 2026"
}
},
{
"type": "officer_resignation",
"quote": "Ontslag: Shk\u00EBlqes\u00EB Ibraj, bestuurder, ... met ingang van 1 juni 2026.",
"value": {
"role": "bestuurder",
"end_date": "2026-06-01"
},
"object": "e1",
"subject": "e2",
"_value_raw": {
"role": "bestuurder",
"end_date": "1 juni 2026"
}
},
{
"type": "filing_representative",
"quote": "Ingediend door Amraoui Leila, lasthebber.",
"value": "lasthebber",
"object": "e1",
"subject": "e3"
}
],
"act_meta": {
"outcome": "clean",
"model_id": 50,
"verified": true,
"extractor": "verified-v1",
"ocr_chars": 1168,
"truncated": false
},
"entities": [
{
"id": "e1",
"kbo": "0769.685.397",
"kind": "company",
"name": "MSG PRO",
"attrs": {
"legal_form": "Besloten Vennootschap"
}
},
{
"id": "e2",
"kbo": null,
"kind": "person",
"name": "Shk\u00EBlqes\u00EB Ibraj",
"attrs": {
"address": "Nieuwbrugstraat 66 1830 Machelen (Brab.) (BE)"
}
},
{
"id": "e3",
"kbo": null,
"kind": "person",
"name": "Amraoui Leila",
"attrs": {}
}
]
}21-02-2023 Registered office moved from Sint-Agatha-Berchem to Machelen
- Sint-Agatha-Berchem (1082 Brussels) Groot-Bijgaardenstraat 14 → Machelen (1830) Nieuwbrugstraat, 66
Technical details
{
"events": [
{
"kind": "zetel_transfer",
"seat_type": "siege_social",
"new_address": {
"raw": "Machelen (1830) Nieuwbrugstraat, 66",
"city": "Machelen",
"region": "vlaams_gewest",
"street": "Nieuwbrugstraat",
"country": "BE",
"postcode": "1830",
"box_number": null,
"street_number": "66",
"locality_suffix": "(1830)"
},
"old_address": {
"raw": "Sint-Agatha-Berchem (1082 Brussels) Groot-Bijgaardenstraat 14",
"city": "Sint-Agatha-Berchem",
"region": "brussels_hoofdstedelijk_gewest",
"street": "Groot-Bijgaardenstraat",
"country": "BE",
"postcode": "1082",
"box_number": null,
"street_number": "14",
"locality_suffix": "(1082 Brussels)"
},
"effective_date": null,
"evidence_quote": "",
"region_changed": true,
"is_statute_change": true,
"nationality_change": false,
"old_address_source": "header_volledig_adres",
"statute_clause_text": null,
"statute_article_number": null,
"effective_date_qualifier": "not_specified",
"statutaire_vs_werkelijke": "statutaire",
"linguistic_region_changed": false,
"court_jurisdiction_changed": true,
"effective_date_is_approximate": false
}
],
"notary": {
"name": "Simon WETS",
"firm_city": null,
"firm_name": "Benjamin Wets \u0026 Simon Wets, notaires associ\u00E9s",
"office_city": "Schaarbeek",
"is_associated": true
},
"act_meta": {
"language": "nl",
"pub_date": "2023-02-21",
"filing_date": "2023-02-13",
"act_kind_objet": "VERPLAATSING VAN DE ZETEL - VERTALING VAN DE STATUTEN"
},
"decision": {
"body": "buitengewone_algemene_vergadering",
"date": "2023-02-08",
"unanimous": true
},
"subject_company": {
"kbo": "0769.685.397",
"name_full": "MSG PRO",
"legal_form": "BV"
},
"publication_proxy": {
"kind": "person",
"org_kbo": null,
"org_name": null,
"person_name": null,
"org_rep_person_name": null,
"person_role_at_subject": null
},
"co_filed_documents": []
}| Legal nameFR | MSG PRO |
- 15-09-2025 UBO non-compliance
- 22-07-2025 UBO non-compliance