H.G. MANDAT
ActiveH.G. MANDAT has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €604k and a net result of €161k. Equity is growing by ~34.2% per year across the filed fiscal years. Its solvency ranks better than 66% of 12690 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
98
/ 100
Excellent
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability92▲+2
Solvency96▲+8
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €55k at 30 days acceptable
Liquidity ample (current ratio 10.13 against 6.83 in 2024; short-term debt: 5.6% and cash: 55.3% of total assets), and 28.8% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 69
Relative position
BE, all sectors
reference
Sector 69
lower
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
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
71.2%
Return on assets
19%
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 08-09-2026, 39 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 · 10 filingsDeviation from the deadline
2025
39 d late
2024
29 d late
2023
2 d early
2022
28 d late
2021
25 d late
2020
30 d late
2019
31 d late
← before the deadline
after the deadline →
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
22-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€604k▲ 36.3%
2024 · €443k
2018: €79k
2019: €110k
2020: €116k
2021: €167k
2022: €248k
2023: €324k
2024: €443k
2018 → 2025
Total assets
€849k▲ 21.1%
2024 · €701k
2018: €98k
2019: €413k
2020: €438k
2021: €454k
2022: €534k
2023: €585k
2024: €701k
2018 → 2025
Net result
€161k▲ 34.8%
2024 · €119k
2018: €7k
2019: €31k
2020: €6k
2021: €51k
2022: €96k
2023: €76k
2024: €119k
2018 → 2025
Working capital
€435k▲ 58.5%
2024 · €275k
2018: €66k
2019: €44k
2020: €24k
2021: €49k
2022: €128k
2023: €207k
2024: €275k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€167k-€248k▲ 48.4%€324k▲ 30.8%€443k▲ 36.9%€604k▲ 36.3%
Operating result€81k-€109k▲ 34.9%€101k▼ 7.2%€155k▲ 53.0%€215k▲ 38.6%
Net result€51k-€96k▲ 87.5%€76k▼ 20.3%€119k▲ 56.5%€161k▲ 34.8%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 39% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €849k
Fixed assets
€366k▼ 3.5%
Current assets
€483k▲ 50.1%
Equity and liabilities €849k
Equity
€604k▲ 36.3%
Debt
€245k▼ 5.0%
The debt ratio falls from 36.7% to 28.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€233k▲
2024 · €172k
Cash flow
€179k▲
2024 · €136k
Solvency
71.2%▲
2024 · 63.3%
Current ratio
10.13▲
2024 · 6.83
Quick ratio
10.13▲
2024 · 6.83
Debt / equity
0.40▼
2024 · 0.58
ROE
26.6%▼
2024 · 26.9%
ROA
19.0%▲
2024 · 17.0%
Interest coverage
82.54▲
2024 · 69.20
Debt
€245k▼
2024 · €258k
Debt ≤ 1 year
€48k▲
2024 · €47k
Debt > 1 year
€197k▼
2024 · €210k
Income taxes
€51k▲
2024 · €33k
Staff costs
€91k▲
2024 · €87k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€701k€849k▲
Fixed assets21/28€379k€366k▼
Tangible fixed assets22/27€379k€366k▼
Land and buildings22€379k€366k▼
Current assets29/58€322k€483k▲
Amounts receivable within one year40/41€22k€13k▼
Trade receivables40€22k€13k▼
Other amounts receivable41€376-
Cash at bank and in hand54/58€300k€470k▲
Equity and liabilities
Total equity and liabilities10/49€701k€849k▲
Equity10/15€443k€604k▲
Contributions10/11€19k€19k=
Reserves13€216k€366k▲
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€215k€365k▲
Profit (loss) carried forward14€208k€219k▲
Amounts payable17/49€258k€245k▼
Amounts payable after more than one year17€210k€197k▼
Financial debts170/4€210k€197k▼
Amounts payable within one year42/48€47k€48k▲
Current portion of amounts payable after more than one year42€13k-
Financial debts43-€13k
Credit institutions430/8-€13k
Trade debts44€1k€3k▲
Suppliers440/4€1k€3k▲
Taxes, remuneration and social security45€25k€27k▲
Taxes450/3€14k€15k▲
Remuneration and social security454/9€11k€12k▲
Other amounts payable47/48€7k€4k▼
Income statement
Code20242025
Remuneration, social security and pensions62€87k€91k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€17k€18k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€14k
Other operating charges640/8€13k-
Gross operating margin9900€272k€338k▲
Operating profit (loss)9901€155k€215k▲
Financial charges65/66B€2k€3k▲
Recurring financial charges65€2k€3k▲
Profit (loss) for the period before taxes9903€153k€212k▲
Income taxes67/77€33k€51k▲
Profit (loss) for the period9904€119k€161k▲
Profit (loss) for the period to be appropriated9905€119k€161k▲
Appropriation of the result
Profit (loss) to be appropriated9906€298k€369k▲
Profit (loss) brought forward from the previous period14P€179k€208k▲
Transfer to equity691/2€90k€150k▲
To other reserves6921€90k€150k▲
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
08-09
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 39 days late
2025
31-12
Financial
Highest result since 2018net €161k ▲34.8%
Operating result €215k, net result €161k, both a record.
31-12
Financial
Equity above €500kEq €604k ▲36.3%
8 profitable years in a row build equity to €604k.
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
29-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 28 days late
2022
31-12
Financial
Equity above €200kEq €248k ▲48.4%
5 profitable years in a row build equity to €248k.
25-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 25 days late
2021
31-12
Financial
Equity above €150kEq €167k ▲44.1%
4 profitable years in a row build equity to €167k.
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
31-12
Financial
Weakest financial yearnet €6k ▼81.2%
Net result drops to €6k, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 31 days late
2019
31-12
Financial
Equity above €100kEq €110k ▲39.2%
2 profitable years in a row build equity to €110k.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
22-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 22 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 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, Tournai · 1 establishment unit since 2003
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Rue Childéric(TOU) 417500 TournaiGround area
317 m²
Building footprint
173 m²
Volume, LiDAR
2,091 m³
2 parcels, Wallonia · tallest building 14.6 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
Rue Barre Saint-Brice(TOU) 21, 7500 Tournai
since 20032.233.137.760
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 57462D0488/00F002 | Wallonia | 162 m² | 1 · 96 m² | 13.6 m · 4 fl. |
| 57462D0557/00A003 | Wallonia | 155 m² | 1 · 77 m² | 14.6 m · 4 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
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 22,054 companies in sector 69101 we hold annual accounts for 9,053. 5,471 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded09-05-2003
Fiscal year end31-12
Activities, NACEBEL
69101Activities of lawyers
74111Design of textile patterns, clothing, jewellery, furniture and decorative items
Sources
Crossroads Bank for EnterprisesNational Bank · 22 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
1 entryE-mail:g.huez@avocat.be