Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Tight liquidity NBB
Cash and receivables cover 64 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
MSF SUPPLY from Brussel, company number BE0438110594, closed financial year 2025 with a result of € 109,377 after tax. For that financial year MSF SUPPLY recorded revenue of € 74.9 million and equity of € 15.2 million. Compared with financial year 2024, the result moved from € 1.8 million to € 109,377. 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 16, 2026.
€ 15.2 million
▲ 6% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 109,377
▼ 94% vs 2024
Profit after tax over the fiscal year.
€ 4.2 million
▼ 22% vs 2024
Cash and bank balances on the last day of the fiscal year.
People and assets in 2025
135
▲ 6.6 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 11.4 million
▲ 9% vs 2024
€ 84,400 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 89,933
▼ 13% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 3.8 million
▼ 16% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 22 days on average.
€ 1.5 million
▲ 25% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 85,809,759 | € 76,598,564 | € 77,096,928 | € 74,851,056 | ▼ 3% |
| Profit after taxes | € -223,983 | € -1,217,020 | € 1,751,803 | € 109,377 | ▼ 94% |
| Equity | € 13,789,128 | € 12,572,108 | € 14,323,911 | € 15,225,890 | ▲ 6% |
| Total debts | € 26,775,325 | € 20,838,473 | € 18,562,492 | € 17,111,851 | ▼ 8% |
| Cash | € 9,442,176 | € 4,621,484 | € 5,358,194 | € 4,176,181 | ▼ 22% |
| Retained profit | € 567,548 | € -649,472 | € 1,102,331 | € 1,211,708 | ▲ 10% |
| Balance sheet total | € 40,564,453 | € 33,410,581 | € 32,886,403 | € 32,533,702 | ▼ 1% |
| Employees (FTE) | 119.9 | 127.7 | 128.4 | 135 | ▲ 6.6 |
Key figures of MSF SUPPLY, 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 MSF SUPPLY?
What happened at MSF SUPPLY in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Iman Katrin KISSWANI stepped down as director. NBB
- Amaury GREGOIRE stepped down as director. NBB
- Godelieve CRETEN stepped down as director. NBB
- Benoît DE GRYSE stepped down as director. NBB
- Walter LORENZI stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 109,377 (▼ 94% vs 2024). Source: NBB ↗
- Iman Katrin KISSWANI became a director. NBB
- Amaury GREGOIRE became a director. NBB
In short
From € 223,983 loss in 2022 to € 109,377 profit in 2025.
Paid € 12,571 in corporate taxes since 2022.
Best year ever: 2024, with € 1.8 million profit.
Pays suppliers within 22 days on average.
A new publication or filing at MSF SUPPLY? We notify you, reason included.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
Directors
According to the 2025 annual accounts
Iman Katrin KISSWANI
Director
since 2025 · until 2027
Amaury GREGOIRE
Director
since 2024 · until 2027
since 2024 · until 2027
Benoît DE GRYSE
Director
since 2024 · until 2027
Walter LORENZI
Chairman of the board
Also active at: Médecins sans Frontières - Artsen Zonder Grenzen - Arzte Ohne Grenzen, Fondation Médecins Sans Frontières
since 2024 · until 2027
Establishments
Establishment units
Physical locations of this company
Vilvoordsesteenweg 140
1120 Brussel
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 1 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Website
Technologies
Hosting & Email
Email provider
OVH Mail
Hosting
COLT COLT Technology Services Group Limited, GB
DNS
OVH DNS
Website info
Features
Security
Network
Details
- Company number
- 0438.110.594
- VAT number
- BE 0438.110.594
- Registered office
- Vilvoordsesteenweg 140, 1120 Brussel
- Names & denominations
- MSF SUPPLY
- Enterprise type
- Rechtspersoon
- Legal form
- Non-profit association
- Legal situation
- Normale toestand
- Start date
- 17 August 1989
- Peppol
- Active · Active since 20 Nov 2020
- Contact
- msfsupply.be
- Activities · NACE
Groothandel in farmaceutische en medische artikelen
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Groothandel in overige intermediaire producten, n.e.g.
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