ACTIVE

MSG Consultancy

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Financial year 2025 · closed on 30/09/2025

Net result

-14,7 k €

+41.3% YoY

Gross margin

-1,3 k €

+88.3% YoY

Equity

-53,9 k €

-37.6% YoY

What does MSG Consultancy do?

MSG Consultancy is a Private limited company incorporated in 2008. Its registered office is in Gent.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0808.746.210

Incorporation

29/12/2008

Legal form

Private limited company

Registered office

Luchterenkerkweg 15
9031 Gent · FlandreSee on map

Contributed capital

2 400,00 €

Latest accounts

30/09/2025

View the BCE/KBO Public Search record →

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✦ Verdict · Analyst summary

Financials

Trend over 17 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009
Income statement
Gross margin	-1,3 k €	+88.3%	-11,2 k €	-79.8%	-6,2 k €	-112%	51,1 k €	+67.5%	30,5 k €	+15.2%	26,5 k €	+4112%	628,5 €	-88.2%	5,3 k €	+190%	-5,9 k €	-11.4%	-5,3 k €	+47.5%	-10,2 k €	+30.9%	-14,7 k €	+37.3%	-23,4 k €	-138%	62,2 k €	-17.0%	75,0 k €	+136%	31,8 k €	+50.7%	21,1 k €
EBITDA	-2,1 k €	+82.5%	-12,0 k €	-73.2%	-6,9 k €	-114%	49,8 k €	+66.6%	29,9 k €	+18.0%	25,3 k €	+10021%	-255,3 €	-107%	3,7 k €	+155%	-6,8 k €	-11.1%	-6,1 k €	+44.2%	-10,9 k €	+30.9%	-15,8 k €	+36.0%	-24,7 k €	-140%	61,2 k €	-17.4%	74,0 k €	+134%	31,6 k €	+50.4%	21,0 k €
Operating result	-14,4 k €	+41.8%	-24,8 k €	-22.2%	-20,3 k €	-151%	40,1 k €	+43.0%	28,0 k €	+13.7%	24,7 k €	+2742%	-933,6 €	-127%	3,4 k €	+148%	-7,2 k €	-16.7%	-6,1 k €	+44.2%	-11,0 k €	+49.3%	-21,7 k €	+30.6%	-31,2 k €	-158%	54,2 k €	-19.1%	67,0 k €	+168%	25,0 k €	+28.1%	19,5 k €
Net result	-14,7 k €	+41.3%	-25,1 k €	-9.7%	-22,9 k €	-184%	27,1 k €	+12.3%	24,1 k €	+2.2%	23,6 k €	+2241%	-1,1 k €	-141%	2,7 k €	+137%	-7,4 k €	-17.0%	-6,3 k €	+41.1%	-10,7 k €	+51.6%	-22,1 k €	+26.8%	-30,2 k €	-180%	37,9 k €	-19.7%	47,1 k €	+208%	15,3 k €	+25.0%	12,3 k €
Balance sheet
Equity	-53,9 k €	-37.6%	-39,2 k €	-1948%	2,1 k €	-91.5%	25,0 k €	0.0%	25,0 k €	0.0%	25,0 k €	+1707%	1,4 k €	-44.4%	2,5 k €	+1222%	-221,5 €	-103%	7,2 k €	-46.8%	13,5 k €	-44.3%	24,2 k €	-47.8%	46,3 k €	-64.0%	128,8 k €	+41.7%	90,9 k €	+127%	40,0 k €	+62.1%	24,7 k €
Total assets	20,5 k €	-40.6%	34,5 k €	-45.1%	62,9 k €	-36.9%	99,8 k €	+52.4%	65,5 k €	+9.8%	59,6 k €	+99.2%	29,9 k €	+5.0%	28,5 k €	+16.5%	24,5 k €	+19.2%	20,5 k €	-18.4%	25,2 k €	-18.5%	30,9 k €	-46.4%	57,6 k €	-61.5%	149,5 k €	-2.8%	153,7 k €	+147%	62,1 k €	+88.4%	33,0 k €
Cash	2,3 k €	-62.0%	6,2 k €	-72.5%	22,4 k €	-51.5%	46,2 k €	-16.1%	55,1 k €	+7.0%	51,5 k €	+77.4%	29,0 k €	+14.3%	25,4 k €	+52.1%	16,7 k €	-2.0%	17,0 k €	-29.2%	24,1 k €	-15.6%	28,5 k €	-42.6%	49,6 k €	-62.1%	131,2 k €	+8.8%	120,5 k €	+305%	29,8 k €	+10.9%	26,9 k €
Debts	73,2 k €	-0.7%	73,7 k €	+25.9%	58,6 k €	-20.5%	73,7 k €	+86.0%	39,6 k €	+16.9%	33,9 k €	+18.7%	28,6 k €	+9.8%	26,0 k €	+5.4%	24,7 k €	+84.6%	13,4 k €	+14.4%	11,7 k €	+86.3%	6,3 k €	-44.5%	11,3 k €	-45.3%	20,7 k €	-67.1%	62,8 k €	+184%	22,2 k €	+166%	8,3 k €

Governance

Board of directors

Seen on filing of 30/09/2025 · 1 active · 2 ended

Active mandates

Gulnora MIRKHIDOYATOVA

Director

Active

Ended mandates

GULNORA MIRKHIDOYATOVA

Director · since 16 décembre 2008

Ended

Gulnora Mirkhidoyatova

Manager

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Abridged model
Start of the financial year	01/10/2024	01/10/2023	01/10/2022	01/10/2021	01/10/2020	01/10/2019
Closing of the financial year	30/09/2025	30/09/2024	30/09/2023	30/09/2022	30/09/2021	30/09/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	30/04/2026	30/04/2025	12/04/2024	04/04/2023	11/07/2022	26/03/2021
General meeting	27/03/2026	28/03/2025	29/03/2024	31/03/2023	25/03/2022	26/03/2021
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

17 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	30/09/2025	27/03/2026	30/04/2026	Dutch	PDF
Micro model	30/09/2024	28/03/2025	30/04/2025	Dutch	PDF
Micro model	30/09/2023	29/03/2024	12/04/2024	Dutch	PDF
Micro model	30/09/2022	31/03/2023	04/04/2023	Dutch	PDF
Micro model	30/09/2021	25/03/2022	11/07/2022	Dutch	PDF
Abridged model	30/09/2020	26/03/2021	26/03/2021	Dutch	PDF
Abridged model	30/09/2019	27/03/2020	31/03/2020	Dutch	PDF
Abridged model	30/09/2018	29/03/2019	02/04/2019	Dutch	PDF
Abridged model	30/09/2017	30/03/2018	30/03/2018	Dutch	PDF
Abridged model	30/09/2016	31/03/2017	07/04/2017	Dutch	PDF
Abridged model	30/09/2015	25/03/2016	29/03/2016	Dutch	PDF
Abridged model	30/09/2014	27/03/2015	30/03/2015	Dutch	PDF
Abridged model	30/09/2013	28/03/2014	31/03/2014	Dutch	PDF
Abridged model	30/09/2012	29/03/2013	26/04/2013	Dutch	PDF
Abridged model	30/09/2011	30/03/2012	26/04/2012	Dutch	PDF
Abridged model	30/09/2010	25/03/2011	21/04/2011	Dutch	PDF
Abridged model	30/09/2009	26/03/2010	26/03/2010	Dutch	PDF

Estimate

Indicative valuation

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 30/09/2025 · 1 active · 2 ended

Active mandates

Gulnora MIRKHIDOYATOVA

Director

Active

Ended mandates

GULNORA MIRKHIDOYATOVA

Director · since 16 décembre 2008

Ended

Gulnora Mirkhidoyatova

Manager

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates05/04/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - DOEL - ONTSLAGEN - BENOEMINGEN
PDF
Other08/01/2009
RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, ENZ...)
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

2025
Annual accounts 2025-14,7 k €↑
2024
Annual accounts 2024-25,1 k €↓
2023
Annual accounts 2023-22,9 k €↓
2022
Annual accounts 202227,1 k €↑
2021
Annual accounts 202124,1 k €↑
2020
Annual accounts 202023,6 k €↑
2019
Annual accounts 2019-1,1 k €↓
2018
Annual accounts 20182,7 k €↑
2017
Annual accounts 2017-7,4 k €↓
2016
Annual accounts 2016-6,3 k €↑
2015
Annual accounts 2015-10,7 k €↑
2014
Annual accounts 2014-22,1 k €↑
2013
Annual accounts 2013-30,2 k €↓
2012
Annual accounts 201237,9 k €↓
2011
Annual accounts 201147,1 k €↑
2010
Annual accounts 201015,3 k €↑
2009
Annual accounts 200912,3 k €
29/12/2008
IncorporationPrivate 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

MSG Consultancy

Overview

What does MSG Consultancy do?

Trend over 17 financial years

Board of directors

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