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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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 13 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
MSM PROJECTS from Bouillon, company number BE1002941101, closed financial year 2025 with a result of € -11,977 after tax. For that financial year MSM PROJECTS recorded a gross margin of € -8,090 and equity of € 11,644. Compared with financial year 2024, the result moved from € -1,379 to € -11,977. The company made a loss. The buffer shrank hard: equity is 51 % below last year. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on October 31, 2025.
€ 11,644
▼ 51% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -11,977
▼ 768 % more loss than in 2024
Profit after tax over the fiscal year.
€ 214
▼ 97% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -13,356.
People and assets in 2025
€ 1,498
▼ 37% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 12,038
Loans from banks and other lenders, long and short.
€ 9,781
▼ 62% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 14,764
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
| 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|
| Revenue | € 44,283 | - | |
| Gross margin | € -252 | € -8,090 | ▼ € 7,838 |
| Profit after taxes | € -1,379 | € -11,977 | ▼ € 10,597 |
| Equity | € 23,621 | € 11,644 | ▼ 51% |
| Total debts | € 113,451 | € 130,582 | ▲ 15% |
| Cash | € 8,016 | € 214 | ▼ 97% |
| Retained profit | € -1,379 | € -13,356 | ▼ € 11,977 |
| Bank debt | € 0 | € 12,038 | |
| Balance sheet total | € 137,071 | € 142,226 | ▲ 4% |
Key figures of MSM PROJECTS, fiscal years 2024 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 October 2026.
What happened to MSM PROJECTS?
What happened at MSM PROJECTS in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 11,977. Source: NBB ↗
- New establishment in Bouillon. KBO
- Start of the company according to the CBE. KBO
In short
From € 1,379 loss in 2024 to € 11,977 loss in 2025.
Management
Behind MSM PROJECTS are Martin Ronsmans, Savinien Cayohas and Mathieu Tordeurs.
Directors
According to the 2025 annual accounts
Martin Ronsmans
Director
Savinien Cayohas
Director
Mathieu Tordeurs
Director
Establishments
Establishment units
Physical locations of this company
Voie de Cornimont,Vivy 48
6833 Bouillon
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 1002.941.101
- VAT number
- BE 1002.941.101
- Registered office
- Voie de Cornimont,Vivy 48, 6833 Bouillon
- Names & denominations
- MSM PROJECTS
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 4 December 2023
- Peppol
- Active · Active since 31 Dec 2025
- Activities · NACE
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