ERMANUSTE
ActiveSummary
ERMANUSTE is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2024 annual accounts show negative equity (-€9,223) and a net result of €945. Its solvency ranks better than 5% of 6155 sector peers (fiscal year 2024). The company has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 6155 sector peers (2024).
NBB · sector comparisonPosition among 6155 sector peers
Solvency
better than 5%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 25-08-2025, 25 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 · 2 filingsDeviation from the deadline
2025
not confirmed
2024
25 d late
2023
on the day
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 2 accounts on average 13 days after the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, abbreviated schema
Equity
-€9,223▲ 9.3%
2023 · -€10,168
Net result
€945
2023 · -€15,168
Total assets
€341,638▲ 241%
2023 · €100,075
Solvency
-2.7%▲ 7.5pp
2023 · -10.2%
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20232024
Operating result-€15,147-€1,748
Net result-€15,168-€945
Equity-€10,168--€9,223▲ 9.3%
Total assets€100,075-€341,638▲ 241%
Debt€110,243-€350,861▲ 218%
Working capital-€79,807-€84,612
Solvency-10.2%--2.7%▲ 7.5pp
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Why a figure moved sharply
- 2024 Total assets +241% on 2023. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €1,748 after a loss of €15,147 in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €341,638
Fixed assets
€244,165 ▲ 251%
Current assets
€97,473 ▲ 220%
Key figures and ratios
ROA
0.3%▲
2023 · -15.2%
Debt ≤ 1 year
€12,861▼
2023 · €110,243
Debt > 1 year
€338,000
Income taxes
€232
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2023 | 2024 | Change |
|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,974 | €32,063 | ▲ 545% |
| Other operating charges640/8 | €826 | €1,497 | ▲ 81.2% |
| Gross operating margin9900 | -€9,347 | €35,308 | ▲ 478% |
| Operating profit (loss)9901 | -€15,147 | €1,748 | ▲ 112% |
| Financial income75/76B | - | €90 | - |
| Recurring financial income75 | - | €90 | - |
| Financial charges65/66B | €20 | €661 | ▲ 3,138% |
| Recurring financial charges65 | €20 | €661 | ▲ 3,138% |
| Profit (loss) for the period before taxes9903 | -€15,168 | €1,176 | ▲ 108% |
| Income taxes67/77 | - | €232 | - |
| Profit (loss) for the period9904 | -€15,168 | €945 | ▲ 106% |
| Profit (loss) for the period to be appropriated9905 | -€15,168 | €945 | ▲ 106% |
| Line | 2023 | 2024 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €100,075 | €341,638 | ▲ 241% |
| Fixed assets21/28 | €69,639 | €244,165 | ▲ 251% |
| Intangible fixed assets21 | - | €1,258 | - |
| Tangible fixed assets22/27 | €69,639 | €239,907 | ▲ 245% |
| Plant, machinery and equipment23 | - | €5,633 | - |
| Furniture and vehicles24 | €69,639 | €168,507 | ▲ 142% |
| Other tangible fixed assets26 | - | €65,767 | - |
| Financial fixed assets28 | - | €3,000 | - |
| Current assets29/58 | €30,436 | €97,473 | ▲ 220% |
| Stocks and contracts in progress3 | €5,257 | €54,155 | ▲ 930% |
| Stocks30/36 | €5,257 | €54,155 | ▲ 930% |
| Amounts receivable within one year40/41 | €910 | €4,969 | ▲ 446% |
| Trade receivables40 | €908 | €4,969 | ▲ 448% |
| Other amounts receivable41 | €2 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €24,269 | €31,125 | ▲ 28.3% |
| Deferred charges and accrued income490/1 | - | €7,223 | - |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €100,075 | €341,638 | ▲ 241% |
| Equity10/15 | -€10,168 | -€9,223 | ▲ 9.3% |
| Contributions10/11 | €5,000 | €5,000 | = |
| Profit (loss) carried forward14 | -€15,168 | -€14,223 | ▲ 6.2% |
| Amounts payable17/49 | €110,243 | €350,861 | ▲ 218% |
| Amounts payable after more than one year17 | - | €338,000 | - |
| Financial debts170/4 | - | €338,000 | - |
| Amounts payable within one year42/48 | €110,243 | €12,861 | ▼ 88.3% |
| Trade debts44 | €937 | €1,253 | ▲ 33.6% |
| Suppliers440/4 | €937 | €1,253 | ▲ 33.6% |
| Advances received on contracts in progress46 | - | €5,161 | - |
| Taxes, remuneration and social security45 | €243 | €5,556 | ▲ 2,190% |
| Taxes450/3 | €243 | €5,556 | ▲ 2,190% |
| Other amounts payable47/48 | €109,063 | €892 | ▼ 99.2% |
| Line | 2023 | 2024 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | -€15,168 | €945 | ▲ 106% |
| + Depreciation and write-downs630 | €4,974 | €32,063 | ▲ 545% |
| Operating cash flow (approximation) | -€10,194 | €33,008 | ▲ 424% |
| Investment in fixed assets (approximation) | - | -€206,589 | - |
| Change in cash | - | €6,856 | - |
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
2025
25-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 25 days late
2024
31-12
Financial
Back to profitnet €945
Net result €945 after one loss-making year.
31-12
Financial
Liquidity times 27current ratio 7.58
Current ratio from 0.28 to 7.58; short-term debt falls from €110,243 to €12,861.
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Torhout · 2 establishment units since 2023
Ground area
2,170 m²
Building footprint
475 m²
Volume, LiDAR
2,453 m³
2 parcels, Flanders · tallest building 12.2 m, ±3 floors. Linked by address, not a title deed.
2 establishment units
ERMANUSTE
since 20232.344.918.085
Octavie.store
since 20232.352.704.217
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31522D0232/00M000 | Flanders | 1,958 m² | 1 · 312 m² | 7.5 m · 1 fl. |
| 31033K0306/00L000 | Flanders | 212 m² | 1 · 163 m² | 12.2 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteTorhout2.352.704.217
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 24,729 companies in sector 64210 we hold annual accounts for 19,773. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded21-04-2023
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
47789Other retail sale of new goods
70100Activities of head offices
71121Engineering and related technical consultancy, excluding land surveyors
82100Office administrative and support services
85599Other education
E-invoicing
Reachable via Peppol
Peppol ID
0208:0801051635
Registered
10-11-2025
Register as of 26 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.