MSM PROJECTS
ActiveThe computed 12-month bankruptcy probability of MSM PROJECTS is 2.4% (moderate). The 2025 annual accounts show equity of €12k and a net result of €-12k. Its solvency ranks better than 24% of 11165 sector peers (fiscal year 2025). The company has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
2
/ 100
Critical▼ -8 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0▼-3
Solvency15▼-8
Growth32
Stability82
Bankruptcy probability, 12 months
2.4%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.95 against 1.02 in 2024), and 91.8% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Nine signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Young company
A young company has little track record yet and statistically fails more often than an established 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 2025Solvency, return and age of the figures
Solvency
8.2%
Return on assets
-8.4%
Age of the figures
17 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity fell accordingly. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
2425
2024 to 2025 · latest year -€12k
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 24% of 11165 sector peers (2025).
NBB · sector comparisonPosition among 11165 sector peers
Solvency
better than 24%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 31-10-2025, 0 days ahead of the deadline.
NBB · 2 filingsDeviation from the deadline
2025
on the day
2024
on the day
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close12-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, micro schema
Turnover
€44k
EBIT margin
-3.1%
Net result
€-12k▼ 768%
2024 · €-1k
2024: €-1k
2024 → 2025
Working capital
€-7k
2024 · €2k
2024: €2k
2024 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20242025Trend
Turnover€44k-
Equity€24k-€12k▼ 50.7%
Operating result€-1k-€-12k▼ 762%
Net result€-1k-€-12k▼ 768%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €12k in 2025 against €1k in 2024; the loss grows.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €142k
Fixed assets
€18k▼ 17.1%
Current assets
€124k▲ 7.7%
Equity and liabilities €142k
Equity
€12k▼ 50.7%
Debt
€131k▲ 15.1%
The debt ratio rises from 82.8% to 91.8%: debt grows while equity shrinks.
Key figures and ratios
EBITDA
€-8k▼
2024 · €-637
Cash flow
€-8k▼
2024 · €-644
Solvency
8.2%▼
2024 · 17.2%
Current ratio
0.95▼
2024 · 1.02
Quick ratio
0.13▼
2024 · 0.36
Debt / equity
11.21▲
2024 · 4.80
ROE
-102.9%▼
2024 · -5.8%
ROA
-8.4%▼
2024 · -1.0%
Interest coverage
-53.11▲
2024 · -86.07
Debt
€131k▲
2024 · €113k
Debt ≤ 1 year
€131k▲
2024 · €113k
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€137k€142k▲
Fixed assets21/28€22k€18k▼
Intangible fixed assets21€20k€17k▼
Tangible fixed assets22/27€2k€1k▼
Furniture and vehicles24€2k€1k▼
Current assets29/58€115k€124k▲
Stocks and contracts in progress3€75k€107k▲
Stocks30/36€75k€107k▲
Amounts receivable within one year40/41€31k€17k▼
Trade receivables40€29k€17k▼
Other amounts receivable41€2k€0▼
Cash at bank and in hand54/58€8k€214▼
Deferred charges and accrued income490/1€1k€0▼
Equity and liabilities
Total equity and liabilities10/49€137k€142k▲
Equity10/15€24k€12k▼
Contributions10/11€25k€25k=
Profit (loss) carried forward14€-1k€-13k▼
Amounts payable17/49€113k€131k▲
Amounts payable within one year42/48€113k€131k▲
Financial debts43-€12k
Credit institutions430/8-€12k
Trade debts44€25k€10k▼
Suppliers440/4€25k€10k▼
Taxes, remuneration and social security45€0€15k▲
Taxes450/3€0€15k▲
Other amounts payable47/48€88k€94k▲
Income statement
Code20242025
Turnover70€44k-
Goods, raw materials, services and sundry goods60/61€45k-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€735€4k▲
Other operating charges640/8€384-
Gross operating margin9900€-253€-8k▼
Operating profit (loss)9901€-1k€-12k▼
Financial charges65/66B€7€152▲
Recurring financial charges65€7€152▲
Profit (loss) for the period before taxes9903€-1k€-12k▼
Profit (loss) for the period9904€-1k€-12k▼
Profit (loss) for the period to be appropriated9905€-1k€-12k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-1k€-13k▼
Profit (loss) brought forward from the previous period14P-€-1k
The notes to these accounts (9 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
31-10
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2024
31-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
NBB filing
Directors · office · real estate
Directors
1 act for this company is 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, Bouillon · 1 establishment unit since 2023
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.
Voie de Cornimont,Vivy 486833 BouillonGround area
1,199 m²
Parcel 84074B0124/00H000, Wallonia. Linked by address, not a title deed.
1 establishment unit
MSM PROJECTS
since 20232.352.598.408
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 84074B0124/00H000 | Wallonia | 1,199 m² | - | - |
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
VAN'T HOOGHOF
BE 0758.927.802
Mouscron · Eq €12k
EL OLIVO
BE 0789.584.453
Geraardsbergen · Eq €12k
PYLOT
BE 0660.663.139
Sprimont · Eq €11k
LA CHAVEE
BE 0451.583.894
Namur · Eq €11k
VREBOS
BE 0477.475.867
Oud-Heverlee · Eq €12k
Of 1,043 companies in sector 46341 we hold annual accounts for 530. 255 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded04-12-2023
Fiscal year end31-03
Activities, NACEBEL
46341Wholesale of wines and spirits
46349Wholesale of beverages, general range
47252Retail sale of beverages, general range
Sources
Crossroads Bank for EnterprisesNational Bank · 2 filingsAddress and cadastre registers
Data from official sources, last processed on 12-09-2026. Scores and ratios are computed by Checked and are not a credit decision.