Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Busy address KBO
103 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
M.S.G. from Zaventem, company number BE0429216090, closed financial year 2025 with a result of € 1.9 million after tax. For that financial year M.S.G. recorded a gross margin of € 997,864 and equity of € 20.4 million. Compared with financial year 2024, the result moved from € 4.7 million to € 1.9 million. The company is profitable. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on July 6, 2026.
€ 20.4 million
▲ 10% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 1.9 million
▼ 59% vs 2024
Profit after tax over the fiscal year.
€ 385,118
▲ 34% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 9.1 million.
Debts at end 2025
€ 5.8 million
Loans from banks and other lenders, long and short.
€ 10,312
▼ 26% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 122,740
▲ 30% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 667,803 | € 248,578 | € 3,116,529 | € 997,864 | ▼ 68% |
| Profit after taxes | € 488,532 | € 1,647,553 | € 4,651,854 | € 1,922,311 | ▼ 59% |
| Equity | € 12,181,743 | € 13,829,296 | € 18,481,151 | € 20,403,461 | ▲ 10% |
| Total debts | € 721,847 | € 8,491,474 | € 6,074,313 | € 6,095,794 | |
| Cash | € 681,764 | € 555,119 | € 287,084 | € 385,118 | ▲ 34% |
| Retained profit | € 837,931 | € 2,485,484 | € 7,137,338 | € 9,059,649 | ▲ 27% |
| Dividend | € 464,105 | € 0 | € 0 | € 0 | |
| Bank debt | € 0 | € 5,015,000 | € 5,767,000 | € 5,767,000 | |
| Balance sheet total | € 12,903,591 | € 22,320,770 | € 24,555,464 | € 26,499,255 | ▲ 8% |
Key figures of M.S.G., fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to M.S.G.?
What happened at M.S.G. in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 1.9 million (▼ 59% vs 2024). Source: NBB ↗
- BELGIAN REAL ESTATE FINANCE stepped down as director. NBB
- BELGIAN REAL ESTATE FINANCE became a director. NBB
- New establishment in Zaventem. KBO
- Start of the company according to the CBE. KBO
In short
From € 488,532 profit in 2022 to € 1.9 million profit in 2025.
Paid € 1 million in corporate taxes since 2022.
Best year ever: 2024, with € 4.7 million profit.
Paid out € 464,105 in dividends to the owners in total.
Management
The stake of BELGIAN REAL ESTATE FINANCE comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
M.S.G.The shares are held by BELGIAN REAL ESTATE FINANCE (100%). It owns 100% of BERKENLAAN itself.
Directors
According to the 2025 annual accounts
Director · represented by Emmanuel Van Canneyt
Also active at: ELDORADO, Brussels Land, IMMO - ESCAUT, DWD DEVELOPMENT, BRUSELLO XL, RESIDIN, SCALDIS PROJECTS, Brussels Canal Hotel +7 more
since 2020 · until 2026
Shareholders
Participations
100%
Establishments
Establishment units
Physical locations of this company
Da Vincilaan 2 box 243
1930 Zaventem
Da Vincilaan 2
1930 Zaventem
Active since 2 September 1986
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 103 companies are registered at this address.
All companies at this address →Fläkt Elve
€ -655 gross margin · 2025
Fläkt Woods
€ -441 gross margin · 2025
Villeroy & Boch Belgium
€ 1.3 million gross margin · 2025
TRAVISCAN
€ -4,565 gross margin · 2024
GEERINCKX MOTORS
+98 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0429.216.090
- VAT number
- BE 0429.216.090
- Registered office
- Da Vincilaan 2 bus 243, 1930 Zaventem
- Names & denominations
- M.S.G.
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 18 June 1986
- Peppol
- Active · Active since 27 May 2025
- Activities · NACE
Bemiddeling in verband met exploitatie van en handel in onroerend goed
Bemiddeling bij de aankoop, verkoop en verhuur van onroerend goed voor een vast bedrag of op contractbasis