ACTIVE

MSH Consult

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Financial year 2025 · closed on 30/09/2025

Net result

160,4 k €

+27.6% YoY

Gross margin

339,3 k €

+13.0% YoY

Equity

342,7 k €

-30.3% YoY

What does MSH Consult do?

MSH Consult is a Private limited company incorporated in 2007. Its main activity is: General medical practice activities. Its registered office is in Merchtem.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0893.270.822

Incorporation

06/11/2007

Legal form

Private limited company

Registered office

Poverstraat 9
1785 Merchtem · FlandreSee on map

Contributed capital

21 031,67 €

Latest accounts

30/09/2025

Activities (NACE)

86210General medical practice activities· main 86210General medical practice activities

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008
Income statement
Gross margin	339,3 k €	+13.0%	300,2 k €	+116%	138,9 k €	-32.7%	206,3 k €	-7.7%	223,4 k €	-26.8%	305,1 k €	+38.9%	219,6 k €	+3.9%	211,4 k €	-25.2%	282,6 k €	+20.8%	234 k €	+4.0%	225 k €	-0.0%	225 k €	-28.4%	314,5 k €	+36.9%	229,7 k €	-2.6%	236 k €	-6.7%	253 k €	+8.3%	233,7 k €	+635%	31,8 k €
EBITDA	338,7 k €	+13.6%	298,1 k €	+122%	134,4 k €	-34.7%	205,8 k €	-7.6%	222,7 k €	-26.8%	304,2 k €	+39.0%	218,8 k €	+3.8%	210,7 k €	-25.2%	281,8 k €	+20.9%	233 k €	+5.8%	220,3 k €	-1.5%	223,5 k €	-28.7%	313,4 k €	+37.2%	228,4 k €	-2.7%	234,8 k €	-6.6%	251,4 k €	+7.9%	232,9 k €	+716%	28,6 k €
Operating result	325,9 k €	+18.1%	275,9 k €	+111%	130,8 k €	-29.7%	186,1 k €	+12.1%	165,9 k €	-41.7%	284,5 k €	+51.3%	188,1 k €	+5.9%	177,6 k €	-27.5%	244,9 k €	+25.8%	194,7 k €	-1.0%	196,7 k €	-1.7%	200,1 k €	-31.0%	289,9 k €	+52.4%	190,2 k €	-2.2%	194,5 k €	-11.8%	220,6 k €	+0.4%	219,8 k €	+1274%	16 k €
Net result	160,4 k €	+27.6%	125,7 k €	+253%	35,6 k €	-58.3%	85,4 k €	+31.8%	64,8 k €	-59.4%	159,4 k €	+253%	45,1 k €	+123%	20,2 k €	-69.3%	65,8 k €	+90.1%	34,6 k €	-71.2%	120,2 k €	-11.3%	135,5 k €	-29.0%	191 k €	+54.8%	123,4 k €	-3.1%	127,4 k €	-8.1%	138,5 k €	-3.2%	143,1 k €	+1498%	9 k €
Balance sheet
Equity	342,7 k €	-30.3%	491,9 k €	+19.6%	411,3 k €	-17.1%	496,3 k €	+20.8%	410,9 k €	+18.7%	346,1 k €	-21.9%	443,2 k €	+11.3%	398,1 k €	+5.3%	377,9 k €	+21.1%	312,1 k €	+12.5%	277,5 k €	+76.4%	157,3 k €	-55.9%	356,8 k €	+115%	165,7 k €	+292%	42,3 k €	+183%	14,9 k €	-90.9%	164,4 k €	+670%	21,4 k €
Total assets	870,6 k €	+27.9%	680,7 k €	+0.6%	676,8 k €	-6.6%	725 k €	+27.3%	569,6 k €	-13.9%	661,8 k €	+34.0%	493,9 k €	+4.2%	473,8 k €	+0.6%	471 k €	+6.0%	444,5 k €	+15.6%	384,4 k €	-24.9%	512,1 k €	+20.2%	425,9 k €	+102%	210,7 k €	+3.1%	204,4 k €	-51.7%	423,2 k €	+41.5%	299,1 k €	+224%	92,4 k €
Cash	494 k €	+68.7%	292,8 k €	+1.3%	289 k €	-55.9%	655,4 k €	+20.0%	546,1 k €	-15.2%	644,2 k €	+72.6%	373,2 k €	+14.3%	326,6 k €	-7.3%	352,5 k €	+27.3%	276,9 k €	-8.4%	302,3 k €	-29.9%	431 k €	+19.9%	359,4 k €	+187%	125,4 k €	+40.7%	89,1 k €	-58.0%	212 k €	-16.0%	252,5 k €	+660%	33,2 k €
Debts	441,5 k €	+357%	96,5 k €	-51.6%	199,5 k €	+25.4%	159 k €	+54.6%	102,9 k €	-67.2%	313,6 k €	+544%	48,7 k €	-33.9%	73,7 k €	-19.1%	91,1 k €	-30.1%	130,4 k €	+24.3%	104,9 k €	-70.2%	352,7 k €	+425%	67,2 k €	+56.3%	43 k €	-73.2%	160,1 k €	-60.6%	406,2 k €	+206%	132,7 k €	+92.2%	69 k €

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 30/09/2025 · 2 active · 4 ended

Active mandates

Marc SCHILTZ

Director

Active

Sonia HONTOIR

Director

Active

Ended mandates

SONIA HONTOIR

Manager · since 01 juin 2008

Ended

SONIA Hontoir Sonia

Manager · since 01 juin 2008

Ended

MARC SCHILTZ

Manager · since 30 octobre 2007

Ended

MARC SCHILTZ

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	Micro 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	31/03/2026	17/03/2025	27/03/2024	27/04/2023	25/05/2022	29/04/2021
General meeting	05/03/2026	06/03/2025	07/03/2024	02/03/2023	20/05/2022	04/03/2021
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

18 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	30/09/2025	05/03/2026	31/03/2026	Dutch	PDF
Micro model	30/09/2024	06/03/2025	17/03/2025	Dutch	PDF
Micro model	30/09/2023	07/03/2024	27/03/2024	Dutch	PDF
Micro model	30/09/2022	02/03/2023	27/04/2023	Dutch	PDF
Micro model	30/09/2021	20/05/2022	25/05/2022	Dutch	PDF
Micro model	30/09/2020	04/03/2021	29/04/2021	Dutch	PDF
Micro model	30/09/2019	05/03/2020	27/03/2020	Dutch	PDF
Micro model	30/09/2018	07/03/2019	25/04/2019	Dutch	PDF
Micro model	30/09/2017	01/03/2018	04/04/2018	Dutch	PDF
Abridged model	30/09/2016	02/03/2017	28/03/2017	Dutch	PDF
Abridged model	30/09/2015	03/03/2016	11/03/2016	Dutch	PDF
Abridged model	30/09/2014	05/03/2015	17/03/2015	Dutch	PDF
Abridged model	30/09/2013	06/03/2014	02/04/2014	Dutch	PDF
Abridged model	30/09/2012	07/03/2013	29/03/2013	Dutch	PDF
Abridged model	30/09/2011	20/12/2011	14/02/2012	Dutch	PDF
Abridged model	30/09/2010	20/12/2010	14/03/2011	Dutch	PDF
Abridged model	30/09/2009	04/03/2010	22/03/2010	Dutch	PDF
Abridged model	30/09/2008	05/03/2009	27/03/2009	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 30/09/2025 · 2 active · 4 ended

Active mandates

Marc SCHILTZ

Director

Active

Sonia HONTOIR

Director

Active

Ended mandates

SONIA HONTOIR

Manager · since 01 juin 2008

Ended

SONIA Hontoir Sonia

Manager · since 01 juin 2008

Ended

MARC SCHILTZ

Manager · since 30 octobre 2007

Ended

MARC SCHILTZ

Manager

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates04/12/2023
BENAMING - ONTSLAGEN - BENOEMINGEN
PDF
Mandates26/02/2020
ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM
PDF
Capital / shares16/10/2014
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Registered office26/02/2010
MAATSCHAPPELIJKE ZETEL
PDF
Mandates09/07/2008
ONTSLAGEN - BENOEMINGEN
PDF
Other16/11/2007
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 2025160,4 k €↑
2024
Annual accounts 2024125,7 k €↑
2023
Annual accounts 202335,6 k €↓
2023
Name changeMSH Consult
2022
Annual accounts 202285,4 k €↑
2021
Annual accounts 202164,8 k €↓
2021
Name changeSchiltz Marc Dokter
2020
Annual accounts 2020159,4 k €↑
2019
Annual accounts 201945,1 k €↑
2018
Annual accounts 201820,2 k €↓
2017
Annual accounts 201765,8 k €↑
2016
Annual accounts 201634,6 k €↓
2015
Annual accounts 2015120,2 k €↓
2014
Annual accounts 2014135,5 k €↓
2013
Annual accounts 2013191 k €↑
2012
Annual accounts 2012123,4 k €↓
2011
Annual accounts 2011127,4 k €↓
2010
Annual accounts 2010138,5 k €↓
2009
Annual accounts 2009143,1 k €↑
2008
Annual accounts 20089 k €
06/11/2007
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

MSH Consult

Overview

What does MSH Consult do?

Trend over 18 financial years

Indicative valuation

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