Financials
Financial year 2024
MSM from Leuven, company number BE0670520022, closed financial year 2024 with a result of € 298,836 after tax. For that financial year MSM recorded a gross margin of € 1.2 million and equity of € 731,466. Compared with financial year 2023, the result moved from € 109,192 to € 298,836. Profitable, and profit is growing. 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 August 13, 2025.
€ 731,466
▲ 69% vs 2023
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 298,836
▲ 174% vs 2023
Profit after tax over the fiscal year.
€ 114,391
▲ 35% vs 2023
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2024. Retained profit grew to € 719,066.
People and assets in 2024
17.4
▲ 2.3 vs 2023
Average over the fiscal year, from the social balance sheet.
€ 658,364
▲ 41% vs 2023
€ 37,800 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.
€ 253,640
▲ 234% vs 2023
Book value of vehicles, furniture and equipment.
Debts at end 2024
None
No bank loans on the last day of the fiscal year.
€ 527,604
▼ 14% vs 2023
Supplier invoices still open on the last day of the fiscal year.
€ 328,339
▼ 4% vs 2023
Taxes, VAT and social contributions still to pay.
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| 2021 | 2022 | 2023 | 2024 | Change 2023 → 2024 | |
|---|---|---|---|---|---|
| Gross margin | € 337,632 | € 586,509 | € 964,706 | € 1,220,305 | ▲ 26% |
| Profit after taxes | € 26,730 | € 232,760 | € 109,192 | € 298,836 | ▲ 174% |
| Equity | € 90,678 | € 323,438 | € 432,630 | € 731,466 | ▲ 69% |
| Total debts | € 497,108 | € 937,966 | € 1,041,995 | € 857,250 | ▼ 18% |
| Cash | € 31,095 | € 73,446 | € 85,009 | € 114,391 | ▲ 35% |
| Retained profit | € 78,278 | € 311,038 | € 420,230 | € 719,066 | ▲ 71% |
| Bank debt | € 5,754 | € 0 | € 0 | € 0 | |
| Balance sheet total | € 587,786 | € 1,261,404 | € 1,474,625 | € 1,588,716 | ▲ 8% |
| Employees (FTE) | 8.1 | 7 | 15.1 | 17.4 | ▲ 2.3 |
Key figures of MSM, fiscal years 2021 to 2024, from the annual accounts filed with the National Bank of Belgium.The annual account for fiscal year 2025 has not been filed yet; it was expected before 31 July 2026.
What happened to MSM?
What happened at MSM in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2024: profit of € 298,836 (▲ 174% vs 2023). filed late Source: NBB ↗
- Shamhan Mahmoedov became a director. NBB
- New establishment in Glabbeek. KBO
- New establishment in Leuven. KBO
- Start of the company according to the CBE. KBO
In short
From € 26,730 profit in 2021 to € 298,836 profit in 2024.
Paid € 466,638 in corporate taxes since 2021.
Best year ever: 2024, with € 298,836 profit.
On average € 70,100 of value added per employee in 2024.
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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 MSM is Shamhan Mahmoedov. It owns 50% of MSM Energy Solutions itself.
Directors
According to the 2024 annual accounts
Shamhan Mahmoedov
Director
since 2024
Establishments
Establishment units
Physical locations of this company
Wijgmaalsesteenweg 100
3012 Leuven
Tiensesteenweg 132
3380 Glabbeek
Active since 1 March 2017
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
Zoho Mail
Hosting
CLOUDFLARENET - Cloudflare, Inc., US
DNS
Cloudflare DNS
Website info
Features
Security
Network
Details
- Company number
- 0670.520.022
- VAT number
- BE 0670.520.022
- Registered office
- Wijgmaalsesteenweg 100, 3012 Leuven
- Names & denominations
- MSM
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 30 January 2017
- Peppol
- Active · Active since 25 Aug 2026
- Contact
- msm-group.be
- Activities · NACE
Reparatie en onderhoud van consumentenartikelen, neg
Stukadoorswerk
Overige werkzaamheden in verband met de afwerking van gebouwen
Groothandel in bouwmaterialen, algemeen assortiment
Algemene bouw van residentiële gebouwen
Algemene elektrotechnische installatiewerken