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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Tight liquidity NBB
Cash and receivables cover 62 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
MUSCH-EUM from Pepingen, company number BE0884457975, closed financial year 2025 with a result of € 6,591 after tax. For that financial year MUSCH-EUM recorded a gross margin of € 22,438 and equity of € -2,845. Compared with financial year 2024, the result moved from € -10,061 to € 6,591. Profitable, and profit is growing. 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 27, 2026.
€ -2,845
▲ € 6,591 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 6,591
▲ still € 10,061 loss in 2024
Profit after tax over the fiscal year.
€ 802
▲ € 721 vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € -15,245.
People and assets in 2025
≈ 1
No payroll staff. One director, so that person most likely runs the business.
Debts at end 2025
€ 19,863
▼ 30% vs 2024
Loans from banks and other lenders, long and short.
€ 6,349
▼ 24% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 16,261
▲ 21% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € -11,385 | € 8,372 | € 5,955 | € 22,438 | ▲ 277% |
| Profit after taxes | € -26,071 | € -9,637 | € -10,061 | € 6,591 | ▲ € 16,652 |
| Equity | € 10,262 | € 625 | € -9,436 | € -2,845 | ▲ € 6,591 |
| Total debts | € 47,712 | € 65,156 | € 65,112 | € 48,886 | ▼ 25% |
| Cash | € 490 | € 412 | € 81 | € 802 | ▲ € 721 |
| Retained profit | € -2,138 | € -11,775 | € -21,836 | € -15,245 | ▲ € 6,591 |
| Bank debt | € 30,922 | € 31,561 | € 28,376 | € 19,863 | ▼ 30% |
| Balance sheet total | € 57,974 | € 65,781 | € 55,676 | € 46,041 | ▼ 17% |
Key figures of MUSCH-EUM, 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 MUSCH-EUM?
What happened at MUSCH-EUM in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 6,591. filed late Source: NBB ↗
- Start of the company according to the CBE. KBO
- New establishment in Pepingen. KBO
In short
From € 26,071 loss in 2022 to € 6,591 profit in 2025.
Paid € 569 in corporate taxes since 2022.
Best year ever: 2025, with € 6,591 profit.
Management
Behind MUSCH-EUM is PASCAL MUSCH.
Directors
According to the 2025 annual accounts
PASCAL MUSCH
Manager
Establishments
Establishment units
Physical locations of this company
Terrest(H) 3
1670 Pepingen
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0884.457.975
- VAT number
- BE 0884.457.975
- Registered office
- Terrest(H) 3, 1670 Pepingen
- Names & denominations
- MUSCH-EUM
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 23 October 2006
- Peppol
- Active · Active since 15 Dec 2025
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