NORMAL SITUATION

MSG PARTICIPATIONS

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Financial year 2023 · closed on 31/12/2023

Net result

145,6 k €

+16.9% YoY

Gross margin

-34,4 k €

-20.0% YoY

Equity

7,1 M €

+2.1% YoY

Company — Normal situation.

What does MSG PARTICIPATIONS do?

MSG PARTICIPATIONS is a company registered in Belgium.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0879.867.796

Legal form

Public limited company

Contributed capital

360 000,00 €

Latest accounts

31/12/2023

Signals

ProfitableSolid equityGood liquidityPositive cashflow

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	-34,4 k €	-20.0%	-28,7 k €	+60.0%	-71,7 k €	-25.8%	-57 k €	-67.1%	-34,1 k €	+0.2%	-34,2 k €	+35.4%	-53 k €	-53.4%	-34,5 k €	+41.3%	-58,9 k €	-74.2%	-33,8 k €	-46.0%	-23,1 k €	+2.8%	-23,8 k €	+42.6%	-41,5 k €	-430%	-7,8 k €	-741%	-929,9 €	+69.7%	-3,1 k €	+44.1%	-5,5 k €		–
EBITDA	-35,4 k €	-14.0%	-31 k €	+78.0%	-141,1 k €	+82.5%	-804,8 k €	-193%	-274,5 k €	-682%	-35,1 k €	+33.8%	-53 k €	-53.4%	-34,5 k €	+41.4%	-58,9 k €	-74.0%	-33,9 k €	-45.8%	-23,2 k €	+16.1%	-27,7 k €	+36.8%	-43,8 k €	-1906%	2,4 k €	+216%	-2,1 k €	+96.2%	-54,3 k €	+71.9%	-193 k €	-53209%	-362 €
Operating result	-35,4 k €	-14.0%	-31 k €	+78.0%	-141,1 k €	+82.5%	-804,8 k €	-193%	-274,5 k €	-682%	-35,1 k €	+33.8%	-53 k €	-53.4%	-34,5 k €	+41.4%	-58,9 k €	-74.0%	-33,9 k €	-45.8%	-23,2 k €	+70.0%	-77,4 k €	-76.7%	-43,8 k €	-1906%	2,4 k €	+216%	-2,1 k €	+96.2%	-54,3 k €	+71.9%	-193 k €	-6161%	-3,1 k €
Net result	145,6 k €	+16.9%	124,6 k €	-26.6%	169,8 k €	-68.6%	540,4 k €	-87.0%	4,2 M €	+801%	461,5 k €	+8.9%	423,6 k €	+215%	134,5 k €	-44.5%	242,6 k €	-65.0%	692,9 k €	+229%	210,4 k €	-51.8%	436,5 k €	-12.7%	500,2 k €	-39.2%	822,5 k €	-30.9%	1,2 M €	+366%	255,5 k €	-86.9%	2 M €	+64716%	-3 k €
Balance sheet
Equity	7,1 M €	+2.1%	6,9 M €	+1.8%	6,8 M €	-21.2%	8,6 M €	+6.7%	8,1 M €	+23.8%	6,5 M €	+7.6%	6,1 M €	+7.5%	5,6 M €	-7.9%	6,1 M €	-0.4%	6,2 M €	+12.7%	5,5 M €	+4.0%	5,2 M €	+9.1%	4,8 M €	+11.6%	4,3 M €	+23.6%	3,5 M €	+35.8%	2,6 M €	+11.0%	2,3 M €	+548%	357 k €
Total assets	7,2 M €	+1.4%	7,1 M €	+1.4%	7 M €	-40.0%	11,6 M €	-22.0%	14,9 M €	+37.7%	10,8 M €	-5.9%	11,5 M €	-59.1%	28,1 M €	-47.8%	53,9 M €	+85.5%	29,1 M €	+396%	5,9 M €	+3.7%	5,7 M €	-0.6%	5,7 M €	+4.2%	5,5 M €	-4.0%	5,7 M €	-0.4%	5,7 M €	-3.6%	5,9 M €	+394%	1,2 M €
Cash	150,8 k €	+5.6%	142,8 k €	-95.0%	2,9 M €	-16.2%	3,4 M €	-44.3%	6,2 M €	+5014%	120,3 k €	-87.4%	953,2 k €	+340%	216,8 k €	-99.1%	25 M €	+164725%	15,2 k €	-9.8%	16,8 k €	+122%	7,6 k €	-48.9%	14,9 k €	+129%	6,5 k €	+105%	3,2 k €	-83.2%	18,9 k €	-84.8%	124,3 k €	+7752%	1,6 k €
Debts	19,3 k €	-54.0%	42,1 k €	-41.5%	71,9 k €	-97.6%	3 M €	-55.5%	6,8 M €	+58.3%	4,3 M €	-20.8%	5,4 M €	-76.0%	22,5 M €	-52.9%	47,8 M €	+109%	22,9 M €	+5622%	400,5 k €	0.0%	400,5 k €	-37.6%	641,5 k €	-28.0%	891,5 k €	-52.8%	1,9 M €	-32.3%	2,8 M €	-17.0%	3,4 M €	+299%	841,5 k €

Governance

Board of directors

Seen on filing of 31/12/2023 · 6 active · 27 ended

Active mandates

Adnan KANDIYOTI

Managing director · since 25 mai 2023 · until 24 mai 2029

Active

CLAUDE KANDIYOTI

Managing director · since 25 mai 2023 · until 24 mai 2029

Active

Erol KANDIYOTI

Managing director · since 25 mai 2023 · until 24 mai 2029

Active

Igal KANDIYOTI

Managing director · since 25 mai 2023 · until 24 mai 2029

Active

KREST REAL ESTATE INVESTMENTS

Director · since 25 mai 2023 · until 24 mai 2029 · 0834.802.289

Represented by Sacha KANDIYOTI

Active

Ralfi KANDIYOTI

Director · since 25 mai 2023 · until 24 mai 2029

Active

Ended mandates

Adnan KANDIYOTI

Managing director · since 26 mai 2017 · until 25 mai 2023

Ended

Claude KANDIYOTI

Managing director · since 26 mai 2017 · until 25 mai 2023

Ended

Erol KANDIYOTI

Managing director · since 26 mai 2017 · until 25 mai 2023

Ended

Igal KANDIYOTI

Managing director · since 26 mai 2017 · until 25 mai 2023

Ended

Annual accounts

Full financial information

	2023	2022	2021	2020	2019	2018
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Abridged model
Start of the financial year	01/01/2023	01/01/2022	01/01/2021	01/01/2020	01/01/2019	01/01/2018
Closing of the financial year	31/12/2023	31/12/2022	31/12/2021	31/12/2020	31/12/2019	31/12/2018
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	07/06/2024	04/07/2023	28/07/2022	03/05/2022	03/05/2022	13/06/2019
General meeting	23/05/2024	25/05/2023	27/05/2022	29/04/2022	29/04/2022	23/05/2019
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

24 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2023	23/05/2024	07/06/2024	French	PDF
Micro model	31/12/2022	25/05/2023	04/07/2023	French	PDF
Micro model	31/12/2021	27/05/2022	28/07/2022	French	PDF
Micro modelCorrection	31/12/2020	29/04/2022	03/05/2022	French	PDF
Micro modelCorrection	31/12/2020	30/06/2021	23/03/2022	French	PDF
Micro model	31/12/2020	30/06/2021	09/08/2021	French	PDF
Micro modelCorrection	31/12/2019	29/04/2022	03/05/2022	French	PDF
Micro modelCorrection	31/12/2019	30/09/2020	22/03/2022	French	PDF
Micro model	31/12/2019	30/09/2020	06/11/2020	French	PDF
Abridged model	31/12/2018	23/05/2019	13/06/2019	French	PDF
Abridged model	31/12/2017	24/05/2018	29/06/2018	French	PDF
Abridged model	31/12/2016	26/05/2017	20/07/2017	French	PDF
Abridged model	31/12/2015	26/05/2016	13/07/2016	French	PDF
Abridged model	31/12/2014	28/05/2015	05/06/2015	French	PDF
Abridged model	31/12/2013	22/05/2014	23/05/2014	French	PDF
Abridged model	31/12/2012	23/05/2013	28/06/2013	French	PDF
Abridged model	31/12/2011	24/05/2012	22/06/2012	French	PDF
Abridged modelCorrection	31/12/2010	26/05/2011	30/06/2011	French	PDF
Abridged model	31/12/2010	26/05/2011	24/06/2011	French	PDF
Abridged model	31/12/2009	27/05/2010	28/05/2010	French	PDF
Abridged modelCorrection	31/12/2008	28/05/2009	16/11/2009	French	PDF
Abridged model	31/12/2008	28/05/2009	26/06/2009	French	PDF
Abridged model	31/12/2007	22/05/2008	17/06/2008	French	PDF
Abridged model	31/12/2006	24/05/2007	20/06/2007	French	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 31/12/2023 · 6 active · 27 ended

Active mandates

Adnan KANDIYOTI

Managing director · since 25 mai 2023 · until 24 mai 2029

Active

CLAUDE KANDIYOTI

Managing director · since 25 mai 2023 · until 24 mai 2029

Active

Erol KANDIYOTI

Managing director · since 25 mai 2023 · until 24 mai 2029

Active

Igal KANDIYOTI

Managing director · since 25 mai 2023 · until 24 mai 2029

Active

KREST REAL ESTATE INVESTMENTS

Director · since 25 mai 2023 · until 24 mai 2029 · 0834.802.289

Represented by Sacha KANDIYOTI

Active

Ralfi KANDIYOTI

Director · since 25 mai 2023 · until 24 mai 2029

Active

Ended mandates

Adnan KANDIYOTI

Managing director · since 26 mai 2017 · until 25 mai 2023

Ended

Claude KANDIYOTI

Managing director · since 26 mai 2017 · until 25 mai 2023

Ended

Erol KANDIYOTI

Managing director · since 26 mai 2017 · until 25 mai 2023

Ended

Igal KANDIYOTI

Managing director · since 26 mai 2017 · until 25 mai 2023

Ended

Shareholders

Ownership and network

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Competition

Similar companies

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

See the Business plan

2023
Annual accounts 2023145,6 k €↑
2022
Annual accounts 2022124,6 k €↓
2021
Annual accounts 2021169,8 k €↓
2020
Annual accounts 2020540,4 k €↓
2019
Annual accounts 20194,2 M €↑
2018
Annual accounts 2018461,5 k €↑
2017
Annual accounts 2017423,6 k €↑
2016
Annual accounts 2016134,5 k €↓
2015
Annual accounts 2015242,6 k €↓
2014
Annual accounts 2014692,9 k €↑
2013
Annual accounts 2013210,4 k €↓
2012
Annual accounts 2012436,5 k €↓
2011
Annual accounts 2011500,2 k €↓
2010
Annual accounts 2010822,5 k €↓
2009
Annual accounts 20091,2 M €↑
2008
Annual accounts 2008255,5 k €↓
2007
Annual accounts 20072 M €↑
2006
Annual accounts 2006-3 k €

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 PARTICIPATIONS

Overview

What does MSG PARTICIPATIONS do?

Trend over 18 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

Similar companies

Similar companies

Timeline