Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 5 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
M.S.A. INTERNATIONAL from Geel, company number BE0471341806, closed financial year 2025 with a result of € -379,154 after tax. For that financial year M.S.A. INTERNATIONAL recorded a gross margin of € 234,751 and equity of € 1.4 million. Compared with financial year 2024, the result moved from € -38,131 to € -379,154. The company made a loss. The company holds a healthy buffer. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on March 26, 2026.
€ 1.4 million
▼ 23% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -379,154
▼ 894 % more loss than in 2024
Profit after tax over the fiscal year.
€ 39,364
▼ 68% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -493,865.
People and assets in 2025
0.6
Average over the fiscal year, from the social balance sheet.
€ 9,452
Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 121,961
▲ 9% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 3.5 million
▲ 62% vs 2024
€ 351,431 is repaid this year. At this pace the long-term loan is gone in ≈ 10 years.
€ 43,341
▼ 82% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 120,382
▲ € 91,591 vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 124,560 | € 231,849 | € 276,792 | € 234,751 | ▼ 15% |
| Profit after taxes | € -131,112 | € 4,109 | € -38,131 | € -379,154 | ▼ € 341,024 |
| Equity | € 1,516,856 | € 1,520,964 | € 1,882,834 | € 1,449,179 | ▼ 23% |
| Total debts | € 2,712,888 | € 3,629,168 | € 4,651,630 | € 6,570,642 | ▲ 41% |
| Cash | € 179,859 | € 236,128 | € 122,731 | € 39,364 | ▼ 68% |
| Land & buildings | € 3,076,522 | € 3,048,583 | € 3,886,315 | € 4,939,798 | ▲ 27% |
| Retained profit | € -26,188 | € -22,080 | € -60,210 | € -493,865 | ▼ € 433,654 |
| Dividend | € 0 | € 0 | € 0 | € 54,500 | |
| Bank debt | € 1,442,194 | € 2,145,159 | € 2,190,735 | € 3,540,568 | ▲ 62% |
| Balance sheet total | € 4,229,743 | € 5,150,132 | € 6,534,463 | € 8,019,822 | ▲ 23% |
| Employees (FTE) | - | - | - | 0.6 |
Key figures of M.S.A. INTERNATIONAL, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 30 April 2027.
What happened to M.S.A. INTERNATIONAL?
What happened at M.S.A. INTERNATIONAL in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 379,154. Source: NBB ↗
- New establishment in Geel. KBO
- Start of the company according to the CBE. KBO
In short
From € 131,112 loss in 2022 to € 379,154 loss in 2025.
Paid € 459 in corporate taxes since 2022.
Best year ever: 2023, with € 4,109 profit.
Paid out € 54,500 in dividends to the owners in total.
A new publication or filing at M.S.A. INTERNATIONAL? 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
Behind M.S.A. INTERNATIONAL is Philippe Van Elst. Philippe Van Elst is also behind Culver City and KartCo.
Directors
According to the 2025 annual accounts
Establishments
Establishment units
Physical locations of this company
Stationsstraat 82 box E
2440 Geel
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0471.341.806
- VAT number
- BE 0471.341.806
- Registered office
- Stationsstraat 82 bus E, 2440 Geel
- Names & denominations
- M.S.A. INTERNATIONAL · MSA Int.
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 2 March 2000
- Peppol
- Active · Active since 27 Mar 2026
- Activities · NACE
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