Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Negative equity NBB
More debt than assets in 3 of the last 3 fiscal years.
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Two loss years in a row NBB
Negative result in 2023 and 2024.
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Annual account missing NBB
Fiscal year 2025 was expected before 30 January 2026 and has not been filed.
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Not on Peppol Peppol
Not registered in the Peppol network, mandatory for VAT-liable companies since 1 January 2026.
Financials
Financial year 2024
MUST Insurance from Tournai, company number BE0885741246, closed financial year 2024 with a result of € -16,627 after tax. For that financial year MUST Insurance recorded a gross margin of € 1,043 and equity of € -10.5 million. Compared with financial year 2023, the result moved from € -705 to € -16,627. 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 February 25, 2025.
€ -10.5 million
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -16,627
▼ 2260 % more loss than in 2023
Profit after tax over the fiscal year.
Loss, nothing to pay out
Reserves fell to € -10.8 million.
People and assets in 2024
0
Average over the fiscal year, from the social balance sheet.
Debts at end 2024
€ 220,699
▼ 47% vs 2023
Loans from banks and other lenders, long and short.
€ 63,058
Supplier invoices still open on the last day of the fiscal year.
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| 2022 | 2023 | 2024 | Change 2023 → 2024 | |
|---|---|---|---|---|
| Gross margin | € 20,948 | € 2,011 | € 1,043 | ▼ 48% |
| Profit after taxes | € -7,063,569 | € -705 | € -16,627 | ▼ € 15,923 |
| Equity | € -10,435,053 | € -10,435,758 | € -10,452,385 | |
| Total debts | € 13,643,637 | € 13,301,112 | € 12,983,224 | ▼ 2% |
| Cash | € 2,296 | € 0 | - | |
| Retained profit | € -10,735,053 | € -10,735,758 | € -10,752,385 | |
| Bank debt | € 410,000 | € 419,106 | € 220,699 | ▼ 47% |
| Balance sheet total | € 3,208,584 | € 2,865,355 | € 2,530,840 | ▼ 12% |
Key figures of MUST Insurance, fiscal years 2022 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 30 January 2026.
What happened to MUST Insurance?
What happened at MUST Insurance in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2024: loss of € 16,627. filed late Source: NBB ↗
- Hassina ABDELALI became a director. NBB
- New establishment in Tournai. KBO
- Start of the company according to the CBE. KBO
In short
From € 7.1 million loss in 2022 to € 16,627 loss in 2024.
A new publication or filing at MUST Insurance? 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 MUST Insurance are Hassina ABDELALI and René PHILIPPE. René PHILIPPE is also behind COOPALIA, BELFON Invest and KLARYS.
Directors
According to the 2024 annual accounts
Hassina ABDELALI
Managing director
since 2015
Establishments
Establishment units
Physical locations of this company
Rue Barthélémy Frison(TOU) 13
7500 Tournai
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 7 companies are registered at this address.
All companies at this address →ASSOCIATION DES COPROPRIETAIRES DE L'ENSEMBLE IMMOBILIER RESIDENTIEL ILOT DESCLEE I
COOPALIA same network
€ -333 gross margin · 2024
SPACE FOR SIX
€ 7,650 gross margin · 2025
Société Médicale KLIPPER
€ 107,898 gross margin · 2025
MIVERMALA
€ 5,077 gross margin · 2025
+2 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
- 0885.741.246
- VAT number
- BE 0885.741.246
- Registered office
- Rue Barthélémy Frison(TOU) 13, 7500 Tournai
- Names & denominations
- MUST Insurance
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 14 December 2006
- Peppol
- Not registered
- Activities · NACE
Schatten en evalueren van onroerend goed voor een vast bedrag of op contractbasis
Verstrekken van verbruikskrediet
Activiteiten van beursvennootschappen
Overige financiële dienstverlening, neg
Overige ondersteunende activiteiten in verband met financiële diensten, neg, exclusief verzekeringen en pensioenfondsen
Bemiddeling in verband met exploitatie van en handel in onroerend goed
Bemiddeling bij de aankoop, verkoop en verhuur van onroerend goed voor een vast bedrag of op contractbasis