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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Busy address KBO
82 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
MSD Europe Belgium from Watermaal-Bosvoorde, company number BE0802868505, closed financial year 2025 with a result of € 3.3 million after tax. For that financial year MSD Europe Belgium recorded revenue of € 86.2 million and equity of € 45.2 million. Compared with financial year 2024, the result moved from € 2.4 million to € 3.3 million. 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 July 3, 2026.
€ 45.2 million
▲ 1% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 3.3 million
▲ 39% vs 2024
Profit after tax over the fiscal year.
€ 3 million paid out
90 % of the profit went to the shareholders, the rest stayed in the company.
People and assets in 2025
157.5
▲ 4.4 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 35.4 million
▲ 11% vs 2024
€ 224,800 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.
€ 547,762
▼ 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.
€ 4.8 million
▼ 30% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 37 days on average.
€ 8.5 million
▼ 4% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|
| Revenue | € 37,249,551 | € 79,960,259 | € 86,210,478 | ▲ 8% |
| Profit after taxes | € 841,007 | € 2,406,122 | € 3,342,042 | ▲ 39% |
| Equity | € 42,499,430 | € 44,905,552 | € 45,247,594 | ▲ 1% |
| Total debts | € 17,794,676 | € 15,704,955 | € 13,293,850 | ▼ 15% |
| Retained profit | € 841,007 | € 3,247,129 | € 3,589,171 | ▲ 11% |
| Dividend | € 0 | € 0 | € 3,000,000 | |
| Balance sheet total | € 60,294,106 | € 60,610,507 | € 58,541,443 | ▼ 3% |
| Employees (FTE) | 150.8 | 153.1 | 157.5 | ▲ 4.4 |
Key figures of MSD Europe Belgium, fiscal years 2023 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 MSD Europe Belgium?
What happened at MSD Europe Belgium in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 3.3 million (▲ 39% vs 2024). Source: NBB ↗
- Ciar Harbord became a director. NBB
- New establishment in Brussel. KBO
- Katrien De Vos became a director. NBB
- New establishment in Watermaal-Bosvoorde. KBO
- Joris Swennen became a director. NBB
- Start of the company according to the CBE. KBO
In short
From € 841,007 profit in 2023 to € 3.3 million profit in 2025.
Paid € 4.4 million in corporate taxes since 2023.
Best year ever: 2025, with € 3.3 million profit.
Paid out € 3 million in dividends to the owners in total.
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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 MSD Europe Belgium are Ciar Harbord, Joris Swennen and Katrien De Vos.
Directors
According to the 2025 annual accounts
Ciar Harbord
Administrator-manager
since 2024
Joris Swennen
Administrator-manager
since 2023
Katrien De Vos
Administrator-manager
since 2023
Establishments
Establishment units
Physical locations of this company
Vorstlaan 25
1170 Watermaal-Bosvoorde
Handelsstraat 31
1000 Brussel
Active since 1 October 2023
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 82 companies are registered at this address.
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La Garantie Belge
LA MUTUELLE PATRONALE (A.A.M. CONTRE LES RISQUES DECOULANT DE LA LEGISLATION RELATIVE AU SALAIRE GARANTI)
+77 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
- 0802.868.505
- VAT number
- BE 0802.868.505
- Registered office
- Vorstlaan 25, 1170 Watermaal-Bosvoorde
- Names & denominations
- MSD Europe Belgium
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 19 June 2023
- Peppol
- Active · Active since 31 Oct 2025
- Activities · NACE
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Activiteiten van hoofdkantoren
Detailhandel in medische en orthopedische artikelen, muv corrigerende brillen, lenzen en zonnebrillen
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