ACTIVE

MSBE

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Financial year 2024 · closed on 31/12/2024

Net result

202,6 k €

+195.4% YoY

Revenue

10,6 M €

-0.5% YoY

Equity

1,1 M €

+21.6% YoY

Workforce

51,9 ETP

-1.7% YoY

What does MSBE do?

MSBE is a Public limited company incorporated in 2016. Its main activity is: Retail sale of clothing in specialised stores. Its registered office is in Antwerpen. It employs on average 51,9 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0663.846.125

Incorporation

05/10/2016

Legal form

Public limited company

Registered office

Kipdorpvest 28
2000 Antwerpen · FlandreSee on map

Contributed capital

61 500,00 €

Latest accounts

31/12/2024

Average workforce

51,9 ETP

Activities (NACE)

47711Retail sale of clothing in specialised stores· main 47711Retail sale of clothing in specialised stores 47716Retail sale of clothing in specialised stores 47716Retail sale of clothing in specialised stores

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

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✦ Verdict · Analyst summary

Financials

Trend over 8 financial years

	2024		2023		2022		2021		2020		2019		2018		2017
Income statement
Revenue	10,6 M €	-0.5%	10,6 M €	+0.7%	10,6 M €	+9.3%	9,7 M €	+24.4%	7,8 M €	-42.4%	13,5 M €	-2.9%	13,9 M €	-18.1%	17 M €
EBITDA	596 k €	+57.4%	378,6 k €	+22.6%	308,8 k €		–		61,2 k €	-82.4%	348,3 k €	-23.1%	453,1 k €	+4.0%	435,7 k €
Operating result	211,6 k €	-0.5%	212,6 k €	+0.7%	211,1 k €		–		193,8 €	-99.9%	270,3 k €	-34.4%	412,3 k €	-1.8%	419,9 k €
Net result	202,6 k €	+195%	68,6 k €	-50.1%	137,5 k €	+10781%	-1,3 k €	+93.6%	-20 k €	-111%	180,7 k €	-29.3%	255,7 k €	+0.6%	254,2 k €
Balance sheet
Equity	1,1 M €	+21.6%	936,8 k €	+7.9%	868,2 k €	+18.8%	730,8 k €	-0.2%	732,1 k €	-2.7%	752,1 k €	+31.6%	571,3 k €	+81.0%	315,7 k €
Total assets	3,6 M €	+4.9%	3,4 M €	-3.4%	3,6 M €	+15.7%	3,1 M €	-9.5%	3,4 M €	+37.1%	2,5 M €	-4.4%	2,6 M €	-9.0%	2,8 M €
Cash	1,5 M €	+46.1%	1 M €	-23.8%	1,3 M €	+40.6%	944,2 k €	-52.3%	2 M €	+190%	682,3 k €	-41.5%	1,2 M €	-24.2%	1,5 M €
Debts	2,1 M €	-3.6%	2,1 M €	-6.0%	2,3 M €	+11.0%	2 M €	-13.1%	2,4 M €	+68.8%	1,4 M €	-13.4%	1,6 M €	-30.3%	2,3 M €
Other
Workforce	51,9 ETP	-1.7%	52,8 ETP	+2.5%	51,5 ETP	+9.3%	47,1 ETP	-17.1%	56,8 ETP	-28.0%	78,9 ETP	+2.6%	76,9 ETP	+7.4%	71,6 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2024 · 2 active · 10 ended

Active mandates

Richard Assen

Director · since 01 décembre 2024 · until 03 juin 2030

Active

Dennis Mok

Director · since 30 septembre 2021 · until 01 juin 2027

Active

Ended mandates

Floris Ackermann

Director · since 24 novembre 2022 · until 01 juin 2028

Ended

Dennis Mok

Director · since 30 septembre 2021 · until 30 juin 2027

Ended

Patrick Van der Borden

Director · since 30 septembre 2021 · until 30 juin 2027

Ended

Kahn Jonathan David

Director · since 31 décembre 2020 · until 01 juin 2026

Ended

At this address

Other companies at this address

Company	CBE no.
MAYFAIR BELGIË● Active	0445.670.854

Annual accounts

Full financial information

	2024	2023	2022	2021	2020	2019
Type of account	Full model	Full model	Full model	Full model	Full model	Full model
Start of the financial year	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020	01/01/2019
Closing of the financial year	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020	31/12/2019
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	15/07/2025	08/07/2024	19/07/2023	06/07/2022	01/07/2021	01/12/2020
General meeting	30/06/2025	28/06/2024	30/06/2023	30/06/2022	30/06/2021	10/08/2020
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

9 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2024	30/06/2025	15/07/2025	Dutch	PDF
Full model	31/12/2023	28/06/2024	08/07/2024	Dutch	PDF
Full model	31/12/2022	30/06/2023	19/07/2023	Dutch	PDF
Full model	31/12/2021	30/06/2022	06/07/2022	Dutch	PDF
Full model	31/12/2020	30/06/2021	01/07/2021	Dutch	PDF
Full modelCorrection	31/12/2019	10/08/2020	01/12/2020	Dutch	PDF
Full model	31/12/2019	10/08/2020	10/11/2020	Dutch	PDF
Full model	31/12/2018	22/08/2019	27/08/2019	Dutch	PDF
Full model	31/12/2017	29/06/2018	11/07/2018	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 5 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2024 · 2 active · 10 ended

Active mandates

Richard Assen

Director · since 01 décembre 2024 · until 03 juin 2030

Active

Dennis Mok

Director · since 30 septembre 2021 · until 01 juin 2027

Active

Ended mandates

Floris Ackermann

Director · since 24 novembre 2022 · until 01 juin 2028

Ended

Dennis Mok

Director · since 30 septembre 2021 · until 30 juin 2027

Ended

Patrick Van der Borden

Director · since 30 septembre 2021 · until 30 juin 2027

Ended

Kahn Jonathan David

Director · since 31 décembre 2020 · until 01 juin 2026

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates23/01/2025
ONTSLAGEN - BENOEMINGEN
PDF
Other27/04/2023
DIVERSEN
PDF
Mandates17/01/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates04/11/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates07/04/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates04/02/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates23/03/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates03/03/2020
ONTSLAGEN - BENOEMINGEN
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2024
Annual accounts 2024202,6 k €↑
2023
Annual accounts 202368,6 k €↓
2022
Annual accounts 2022137,5 k €↑
2021
Annual accounts 2021-1,3 k €↑
2020
Annual accounts 2020-20 k €↓
2019
Annual accounts 2019180,7 k €↓
2018
Annual accounts 2018255,7 k €↑
2017
Annual accounts 2017254,2 k €
05/10/2016
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

MSBE

Overview

What does MSBE do?

Trend over 8 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline