ACTIVE

mse.service

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Financial year 2026 · closed on 31/03/2026

Net result

-3,7 M €

-3569.4% YoY

Gross margin

-16,8 k €

-65.5% YoY

Equity

6,3 M €

-38.5% YoY

What does mse.service do?

mse.service is a Private limited company incorporated in 2008. Its main activity is: Management consultancy activities. Its registered office is in Heist-op-den-Berg.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0896.801.820

Incorporation

28/03/2008

Legal form

Private limited company

Registered office

Lostraat 2 box 6
2220 Heist-op-den-Berg · FlandreSee on map

Contributed capital

6 578 600,00 €

Latest accounts

31/03/2026

Activities (NACE)

70200Management consultancy activities· main 70220Business and other management consultancy activities 64200Activities of holding companies 64210Activities of holding companies 68100Buying and selling of own real estate 68110Buying and selling of own real estate

Signals

Solid equityLow riskGood liquidity

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2026		2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009
Income statement
Gross margin	-16,8 k €	-65.5%	-10,1 k €	+39.7%	-16,8 k €	-200%	16,9 k €	+244%	-11,7 k €	+50.6%	-23,7 k €	-9385%	255,6 €	+104%	-6,9 k €	-14.1%	-6,1 k €	-164%	9,5 k €	-90.9%	104 k €	+40.3%	74,2 k €	+30.2%	56,9 k €	+19.0%	47,9 k €	+26.7%	37,8 k €	-18.4%	46,3 k €	+27.0%	36,4 k €	+29.4%	28,2 k €
EBITDA	-23,3 k €	-75.0%	-13,3 k €	+42.3%	-23,1 k €	-343%	9,5 k €	+166%	-14,3 k €	+76.8%	-61,6 k €	-1391%	-4,1 k €	+58.5%	-10 k €	-26.6%	-7,9 k €	-202%	7,7 k €	-92.5%	102,3 k €	+41.3%	72,4 k €	+34.2%	53,9 k €	+22.6%	44 k €	+22.6%	35,9 k €	-19.6%	44,6 k €	+74.5%	25,6 k €	-0.1%	25,6 k €
Operating result	-51,1 k €	-24.4%	-41,1 k €	+19.4%	-50,9 k €	-632%	-7 k €	+82.8%	-40,5 k €	+52.2%	-84,8 k €	-225%	-26,1 k €	+18.1%	-31,9 k €	-7.7%	-29,6 k €	-136%	-12,6 k €	-115%	82 k €	+59.9%	51,3 k €	+59.8%	32,1 k €	+38.5%	23,2 k €	+30.6%	17,7 k €	-48.0%	34,1 k €	+115%	15,9 k €	-38.0%	25,6 k €
Net result	-3,7 M €	-3569%	107,1 k €	-63.1%	290,1 k €	+531%	46 k €	+373%	-16,9 k €	+56.9%	-39,1 k €	-104%	1 M €	+369%	220,7 k €	+790%	-32 k €	-102%	2 M €	+4740%	42,3 k €	+44.3%	29,3 k €	+107%	14,2 k €	+36.0%	10,4 k €	+14.5%	9,1 k €	-53.6%	19,6 k €	+156%	7,7 k €	-57.7%	18,1 k €
Balance sheet
Equity	6,3 M €	-38.5%	10,3 M €	+1.1%	10,2 M €	+2.9%	9,9 M €	+0.5%	9,8 M €	-1.0%	9,9 M €	-0.4%	10 M €	+11.6%	8,9 M €	+2.5%	8,7 M €	-0.4%	8,7 M €	+6888%	125 k €	+51.2%	82,7 k €	+55.1%	53,3 k €	+28.3%	41,5 k €	+33.5%	31,1 k €	+41.4%	22 k €	-39.5%	36,4 k €	+49.6%	24,3 k €
Total assets	6,3 M €	-38.6%	10,3 M €	-1.2%	10,4 M €	+0.1%	10,4 M €	+4.4%	10 M €	-0.5%	10 M €	-0.3%	10 M €	+11.3%	9 M €	+2.6%	8,8 M €	-0.7%	8,9 M €	+3090%	277,9 k €	+25.7%	221,2 k €	+7.6%	205,5 k €	+0.5%	204,5 k €	+9.3%	187,2 k €	+109%	89,6 k €	+5.5%	84,9 k €	+102%	42,1 k €
Cash	552,4 k €	+27.6%	432,9 k €	+123%	193,7 k €	-79.2%	931,6 k €	-43.6%	1,7 M €	-1.8%	1,7 M €	-19.6%	2,1 M €	+57.7%	1,3 M €	-3.5%	1,4 M €	+25.5%	1,1 M €	+1314%	77,3 k €	+430%	14,6 k €	+1151%	1,2 k €	-94.4%	20,8 k €	+248%	6 k €	-86.2%	43,2 k €	+41.0%	30,7 k €	+2.5%	29,9 k €
Debts	8,2 k €	-72.2%	29,4 k €	-88.6%	258,6 k €	-52.3%	542,7 k €	+256%	152,3 k €	+48.8%	102,4 k €	+11.9%	91,5 k €	-16.8%	109,9 k €	+10.5%	99,5 k €	-24.2%	131,4 k €	-14.1%	153 k €	+10.4%	138,5 k €	-9.0%	152,2 k €	-6.6%	163 k €	+4.4%	156 k €	+131%	67,6 k €	+39.3%	48,5 k €	+173%	17,8 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 5 M€ and 10 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/03/2026 · 1 active · 2 ended

Active mandates

Martine Seutin

Director

Active

Ended mandates

Martine Seutin

Manager

Ended

Martine SEUTIN

Mandate

Ended

Annual accounts

Full financial information

	2026	2025	2024	2023	2022	2021
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro model
Start of the financial year	01/04/2025	01/04/2024	01/04/2023	01/04/2022	01/04/2021	01/04/2020
Closing of the financial year	31/03/2026	31/03/2025	31/03/2024	31/03/2023	31/03/2022	31/03/2021
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	17/09/2026	30/10/2025	31/10/2024	08/03/2024	07/03/2024	03/01/2024
General meeting	11/09/2026	12/09/2025	13/09/2024	24/10/2023	21/02/2024	02/01/2024
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

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/03/2026	11/09/2026	17/09/2026	Dutch	PDF
Micro model	31/03/2025	12/09/2025	30/10/2025	Dutch	PDF
Micro model	31/03/2024	13/09/2024	31/10/2024	Dutch	PDF
Micro modelCorrection	31/03/2023	24/10/2023	08/03/2024	Dutch	PDF
Micro model	31/03/2023	24/10/2023	27/10/2023	Dutch	PDF
Micro modelCorrection	31/03/2022	21/02/2024	07/03/2024	Dutch	PDF
Micro model	31/03/2022	09/09/2022	29/11/2022	Dutch	PDF
Micro modelCorrection	31/03/2021	02/01/2024	03/01/2024	Dutch	PDF
Micro model	31/03/2021	10/09/2021	02/11/2021	Dutch	PDF
Micro model	31/03/2020	11/09/2020	27/10/2020	Dutch	PDF
Micro model	31/03/2019	13/09/2019	31/10/2019	Dutch	PDF
Micro model	31/03/2018	14/09/2018	27/09/2018	Dutch	PDF
Micro model	31/03/2017	08/09/2017	05/10/2017	Dutch	PDF
Abridged model	31/03/2016	09/09/2016	29/09/2016	Dutch	PDF
Abridged model	31/03/2015	11/09/2015	30/09/2015	Dutch	PDF
Abridged model	31/03/2014	12/09/2014	30/09/2014	Dutch	PDF
Abridged model	31/03/2013	13/09/2013	30/09/2013	Dutch	PDF
Abridged model	31/03/2012	14/09/2012	26/10/2012	Dutch	PDF
Abridged model	31/03/2011	09/09/2011	29/09/2011	Dutch	PDF
Abridged model	31/03/2010	10/09/2010	22/10/2010	Dutch	PDF
Abridged model	31/03/2009	11/09/2009	21/10/2009	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 5 M€ and 10 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 31/03/2026 · 1 active · 2 ended

Active mandates

Martine Seutin

Director

Active

Ended mandates

Martine Seutin

Manager

Ended

Martine SEUTIN

Mandate

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates05/10/2023
WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
PDF
Registered office14/04/2021
MAATSCHAPPELIJKE ZETEL
PDF
Capital / shares13/01/2017
KAPITAAL - AANDELEN
PDF
Registered office28/12/2016
MAATSCHAPPELIJKE ZETEL
PDF
Other10/04/2008
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

2026
Annual accounts 2026-3,7 M €↓
2025
Annual accounts 2025107,1 k €↓
2024
Annual accounts 2024290,1 k €↑
2023
Annual accounts 202346 k €↑
2022
Annual accounts 2022-16,9 k €↑
2021
Annual accounts 2021-39,1 k €↓
2020
Annual accounts 20201 M €↑
2019
Annual accounts 2019220,7 k €↑
2018
Annual accounts 2018-32 k €↓
2017
Annual accounts 20172 M €↑
2016
Annual accounts 201642,3 k €↑
2015
Annual accounts 201529,3 k €↑
2014
Annual accounts 201414,2 k €↑
2013
Annual accounts 201310,4 k €↑
2012
Annual accounts 20129,1 k €↓
2011
Annual accounts 201119,6 k €↑
2010
Annual accounts 20107,7 k €↓
2009
Annual accounts 200918,1 k €
28/03/2008
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

mse.service

Overview

What does mse.service 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