C-MAN construct
ActiveSummary
The computed 12-month bankruptcy probability of C-MAN construct is 1.8% (moderate). The 2025 annual accounts show equity of €43,885 and a net result of €14,968. Equity is growing by ~23.5% per year across the filed fiscal years. Its solvency ranks better than 55% of 7586 sector peers (fiscal year 2025). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability89▲+18
Solvency73▲+27
Growth78=
Track record100
Bankruptcy probability, 12 months
1.8%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,500 at 30 days acceptable
Liquidity tight (current ratio 1.49 against 1.12 in 2024; short-term debt: 52% and cash: 7% of total assets), and 52% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
48%
Return on assets
16.4%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 7 filingsDeviation from the deadline
2025
31 d late
2024
50 d late
2023
30 d late
2022
31 d late
2021
27 d late
2020
25 d late
2019
31 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 32 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€43,885▲ 22.2%
2024 · €35,917
Total assets
€91,373▼ 47.6%
2024 · €174,492
Net result
€14,968▲ 324%
2024 · €3,534
Working capital
€23,433▲ 39.8%
2024 · €16,764
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€5,082▲ 2,182%€1,916▼ 62.3%€19,121▲ 898%€13,246▼ 30.7%€21,135▲ 59.5%
Net result€2,186within the sector's middle half▲ 432%€299within the sector's middle half▼ 86.3%€14,996within the sector's middle half▲ 4,909%€3,534within the sector's middle half▼ 76.4%€14,968within the sector's middle half▲ 324%
Equity€17,088within the sector's middle half▲ 14.7%€17,387within the sector's middle half▲ 1.8%€32,383within the sector's middle half▲ 86.2%€35,917within the sector's middle half▲ 10.9%€43,885within the sector's middle half▲ 22.2%
Total assets€36,968below the sector's middle half▼ 16.5%€41,638below the sector's middle half▲ 12.6%€58,338within the sector's middle half▲ 40.1%€174,492within the sector's middle half▲ 199%€91,373within the sector's middle half▼ 47.6%
Debt€19,880▼ 32.3%€24,251▲ 22.0%€25,955▲ 7.0%€138,575▲ 434%€47,488▼ 65.7%
Working capital€10,502within the sector's middle half▲ 46.9%€11,940within the sector's middle half▲ 13.7%€15,943within the sector's middle half▲ 33.5%€16,764within the sector's middle half▲ 5.1%€23,433within the sector's middle half▲ 39.8%
Solvency46.2%within the sector's middle half▲ 12.6pp41.8%within the sector's middle half▼ 4.5pp55.5%within the sector's middle half▲ 13.8pp20.6%within the sector's middle half▼ 34.9pp48.0%within the sector's middle half▲ 27.4pp
Current ratio1.53within the sector's middle half▲ 0.281.49within the sector's middle half▼ 0.041.61within the sector's middle half▲ 0.121.12within the sector's middle half▼ 0.491.49within the sector's middle half▲ 0.37
Return on assets (ROA)5.9%within the sector's middle half▲ 5.0pp0.7%within the sector's middle half▼ 5.2pp25.7%above the sector's middle half▲ 25.0pp2.0%within the sector's middle half▼ 23.7pp16.4%within the sector's middle half▲ 14.4pp
Staff (FTE)2▲ 100%2.53▲ 20.0%2.9▼ 3.3%
above
within
below
the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 60% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €91,373
Fixed assets
€20,451 ▲ 6.8%
Current assets
€70,922 ▼ 54.3%
Equity and liabilities €91,373
Equity
€43,885 ▲ 22.2%
Debt
€47,488 ▼ 65.7%
Debt's share of the balance-sheet total falls from 79.4% to 52.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€25,843▲
2024 · €17,955
Cash flow
€19,677▲
2024 · €8,243
Debt to equity
1.08▼
2024 · 3.86
ROE
34.1%▲
2024 · 9.8%
Interest coverage
154.95▲
2024 · 104.01
Debt ≤ 1 year
€47,488▼
2024 · €138,575
Income taxes
€6,000▼
2024 · €9,540
Staff costs
€185,826▼
2024 · €186,270
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,970 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.5%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.8% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 26,970 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €83,770 | €103,430 | €139,893 | €186,270 | €185,826 | ▼ 0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,024 | €2,934 | €5,398 | €4,709 | €4,709 | = |
| Other operating charges640/8 | €449 | €293 | €1,380 | €523 | €631 | ▲ 20.8% |
| Gross operating margin9900 | €92,325 | €108,573 | €165,792 | €204,748 | €212,301 | ▲ 3.7% |
| Operating profit (loss)9901 | €5,082 | €1,916 | €19,121 | €13,246 | €21,135 | ▲ 59.5% |
| Financial income75/76B | €2 | €70 | €0 | €0 | €0 | ▼ 97.5% |
| Recurring financial income75 | €2 | €70 | €0 | €0 | €0 | ▼ 97.5% |
| Financial charges65/66B | €2,176 | €242 | €126 | €173 | €167 | ▼ 3.4% |
| Recurring financial charges65 | €2,176 | €242 | €126 | €173 | €167 | ▼ 3.4% |
| Profit (loss) for the period before taxes9903 | €2,909 | €1,745 | €18,996 | €13,074 | €20,968 | ▲ 60.4% |
| Income taxes67/77 | €723 | €1,445 | €4,000 | €9,540 | €6,000 | ▼ 37.1% |
| Profit (loss) for the period9904 | €2,186 | €299 | €14,996 | €3,534 | €14,968 | ▲ 324% |
| Profit (loss) for the period to be appropriated9905 | €2,186 | €299 | €14,996 | €3,534 | €14,968 | ▲ 324% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €36,968 | €41,638 | €58,338 | €174,492 | €91,373 | ▼ 47.6% |
| Formation expenses20 | €308 | €154 | - | - | - | - |
| Fixed assets21/28 | €6,277 | €5,293 | €16,439 | €19,153 | €20,451 | ▲ 6.8% |
| Tangible fixed assets22/27 | €6,102 | €4,513 | €15,659 | €18,373 | €19,394 | ▲ 5.6% |
| Plant, machinery and equipment23 | €2,023 | €2,135 | €3,419 | €3,807 | €2,574 | ▼ 32.4% |
| Furniture and vehicles24 | €4,079 | €2,378 | €12,240 | €14,566 | €16,820 | ▲ 15.5% |
| Financial fixed assets28 | €175 | €780 | €780 | €780 | €1,057 | ▲ 35.5% |
| Current assets29/58 | €30,383 | €36,191 | €41,898 | €155,339 | €70,922 | ▼ 54.3% |
| Amounts receivable within one year40/41 | €20,721 | €8,161 | €4,481 | €4,888 | €64,536 | ▲ 1,220% |
| Trade receivables40 | €17,870 | €5,093 | €2,779 | €4,888 | €57,865 | ▲ 1,084% |
| Other amounts receivable41 | €2,851 | €3,068 | €1,702 | - | €6,671 | - |
| Cash at bank and in hand54/58 | €9,662 | €28,030 | €37,417 | €150,451 | €6,386 | ▼ 95.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €36,968 | €41,638 | €58,338 | €174,492 | €91,373 | ▼ 47.6% |
| Equity10/15 | €17,088 | €17,387 | €32,383 | €35,917 | €43,885 | ▲ 22.2% |
| Contributions10/11 | €12,700 | €12,700 | €12,700 | €12,700 | €5,700 | ▼ 55.1% |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €2,528 | €2,827 | €17,823 | €21,357 | €36,325 | ▲ 70.1% |
| Amounts payable17/49 | €19,880 | €24,251 | €25,955 | €138,575 | €47,488 | ▼ 65.7% |
| Amounts payable within one year42/48 | €19,880 | €24,251 | €25,955 | €138,575 | €47,488 | ▼ 65.7% |
| Trade debts44 | €574 | €2,526 | €4,182 | €11,578 | €36,263 | ▲ 213% |
| Suppliers440/4 | €574 | €2,526 | €4,182 | €11,578 | €36,263 | ▲ 213% |
| Advances received on contracts in progress46 | - | - | - | €75,000 | - | - |
| Taxes, remuneration and social security45 | €7,126 | €12,941 | €12,003 | €41,884 | €10,882 | ▼ 74.0% |
| Taxes450/3 | €692 | €1,599 | €4,968 | €34,148 | €10,882 | ▼ 68.1% |
| Remuneration and social security454/9 | €6,434 | €11,341 | €7,035 | €7,736 | - | - |
| Other amounts payable47/48 | €12,181 | €8,784 | €9,770 | €10,113 | €343 | ▼ 96.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2,186 | €299 | €14,996 | €3,534 | €14,968 | ▲ 324% |
| + Depreciation and write-downs630 | €3,024 | €2,934 | €5,398 | €4,709 | €4,709 | = |
| Operating cash flow (approximation) | €5,209 | €3,234 | €20,393 | €8,243 | €19,677 | ▲ 139% |
| Investment in fixed assets (approximation) | - | -€1,950 | -€16,545 | -€7,422 | -€6,007 | ▲ 19.1% |
| Change in cash | - | €18,368 | €9,387 | €113,034 | -€144,065 | ▼ 227% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
19-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 50 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
31-12
Financial
Highest result since 2019net €14,996 ▲4,909%
Net result €14,996, the highest in the series.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-12
Financial
Weakest financial yearnet €299 ▼86.3%
Net result drops to €299, the lowest in the series; recovery starts the following year.
27-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 27 days late
2021
25-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 25 days late
2020
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
4 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Binche · 1 establishment unit since 2019
Ground area
820 m²
Building footprint
132 m²
Volume, LiDAR
938 m³
2 parcels, Wallonia · tallest building 11.3 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
C-MAN construct
since 20192.284.325.155
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 56043B0608/00E000 | Wallonia | 673 m² | 1 · 92 m² | 8.2 m · 2 fl. |
| 56057A0957/00F002 | Wallonia | 147 m² | 1 · 40 m² | 11.2 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 29,787 companies in sector 41001 we hold annual accounts for 16,052. 12,961 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded24-01-2019
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
43910Bricklaying and masonry work
43990Other specialised construction activities
Contact
E-mail
c-manconstruct@hotmail.com
Phone
+32494781104
E-invoicing
Reachable via Peppol
Peppol ID
0208:0719331511
Also
9925:BE0719331511
Registered
27-11-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.