Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Negative equity NBB
More debt than assets in 2 of the last 4 fiscal years.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 0 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
MSI Invest from Houthalen-Helchteren, company number BE0785553510, closed financial year 2025 with a result of € -9,666 after tax. For that financial year MSI Invest recorded a gross margin of € 20,090 and equity of € -10,651. Compared with financial year 2024, the result moved from € -14,518 to € -9,666. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on August 15, 2026.
€ -10,651
▼ € 9,666 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -9,666
▲ 33 % less loss than in 2024
Profit after tax over the fiscal year.
Loss, nothing to pay out
Reserves fell to € -12,151.
Debts at end 2025
€ 330,499
▼ 4% vs 2024
€ 20,737 is repaid this year. At this pace the long-term loan is gone in ≈ 16 years.
€ 3,343
▲ € 2,894 vs 2024
Supplier invoices still open on the last day of the fiscal year.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € -92 | € 17,950 | € 51,289 | € 20,090 | ▼ 61% |
| Profit after taxes | € -1,003 | € 13,036 | € -14,518 | € -9,666 | ▲ € 4,852 |
| Equity | € 497 | € 13,533 | € -985 | € -10,651 | ▼ € 9,666 |
| Total debts | € 589 | € 4,026 | € 357,119 | € 342,027 | ▼ 4% |
| Cash | € 156 | € 9,530 | € 3,782 | - | |
| Land & buildings | - | € 7,500 | € 342,222 | € 331,377 | ▼ 3% |
| Retained profit | € -1,003 | € 12,033 | € -2,485 | € -12,151 | ▼ € 9,666 |
| Bank debt | € 0 | € 0 | € 345,551 | € 330,499 | ▼ 4% |
| Balance sheet total | € 1,086 | € 17,559 | € 356,134 | € 331,377 | ▼ 7% |
Key figures of MSI Invest, 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 MSI Invest?
What happened at MSI Invest in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 9,666. filed late Source: NBB ↗
- New establishment in Houthalen-Helchteren. KBO
- Sinan Ay became a director. NBB
- Melik Karabas became a director. NBB
- Irfan Karabas became a director. NBB
- Start of the company according to the CBE. KBO
In short
From € 1,003 loss in 2022 to € 9,666 loss in 2025.
Paid € 3,011 in corporate taxes since 2022.
Best year ever: 2023, with € 13,036 profit.
Management
Behind MSI Invest are Sinan Ay, Melik Karabas and Irfan Karabas. The same people are also behind MSI GROUP. Sinan Ay is also behind Ay Holding. Melik Karabas is also behind MK-INVEST. Irfan Karabas is also behind MEIR TECH.
Establishments
Establishment units
Physical locations of this company
Centrum-Zuid 2403
3530 Houthalen-Helchteren
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0785.553.510
- VAT number
- BE 0785.553.510
- Registered office
- Centrum-Zuid 2403, 3530 Houthalen-Helchteren
- Names & denominations
- MSI Invest
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 29 April 2022
- Peppol
- Active · Active since 26 Jan 2026
- Activities · NACE
Handel in eigen onroerend goed