Summary
M.N. Management is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2024 annual accounts show equity of €42,268 and a net result of -€5,589. Equity is growing by ~17.4% per year across the filed fiscal years. Its solvency ranks better than 18% of 9863 sector peers (fiscal year 2024). The company has been active since 2008 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 18% of 9863 sector peers (2024).
NBB · sector comparisonPosition among 9863 sector peers
Solvency
better than 18%
← 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 28-10-2025, 89 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
not confirmed
2024
89 d late
2023
31 d late
2022
59 d late
2021
33 d late
2020
26 d late
2019
61 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€42,268▼ 11.7%
2023 · €47,857
Net result
-€5,589
2023 · €5,990
Total assets
€279,426▲ 24.6%
2023 · €224,256
Solvency
15.1%▼ 6.2pp
2023 · 21.3%
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
Line20202021202220232024
Turnover
Operating result€34,389▲ 150%€15,638▼ 54.5%€19,355▲ 23.8%€18,516▼ 4.3%€5,072▼ 72.6%
Net result€20,335▲ 597%€5,722▼ 71.9%€6,381▲ 11.5%€5,990▼ 6.1%-€5,589
Equity€29,763▲ 216%€35,486▲ 19.2%€41,867▲ 18.0%€47,857▲ 14.3%€42,268▼ 11.7%
Total assets€184,727▲ 12.9%€211,900▲ 14.7%€218,371▲ 3.1%€224,256▲ 2.7%€279,426▲ 24.6%
Debt€154,964▲ 0.5%€176,414▲ 13.8%€176,504▲ 0.1%€176,399▼ 0.1%€237,158▲ 34.4%
Working capital€41,679▲ 126%€45,267▲ 8.6%€63,739▲ 40.8%€62,489▼ 2.0%€59,176▼ 5.3%
Solvency16.1%▲ 10.3pp16.7%▲ 0.6pp19.2%▲ 2.4pp21.3%▲ 2.2pp15.1%▼ 6.2pp
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2024 is 73% below 2023 and is the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €279,426
Fixed assets
€87,750 ▼ 3.4%
Current assets
€191,676 ▲ 43.6%
Equity and liabilities €279,426
Equity
€42,268 ▼ 11.7%
Debt
€237,158 ▲ 34.4%
Debt's share of the balance-sheet total rises from 78.7% to 84.9%. Equity is lower and debt is higher.
Key figures and ratios
ROE
-13.2%▼
2023 · 12.5%
ROA
-2.0%▼
2023 · 2.7%
Debt ≤ 1 year
€132,500▲
2023 · €70,965
Debt > 1 year
€104,658=
2023 · €104,658
Income taxes
€356▼
2023 · €3,258
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,130 | €4,333 | €4,333 | €3,671 | €3,837 | ▲ 4.5% |
| Other operating charges640/8 | - | €2,173 | €2,752 | €2,506 | €5,315 | ▲ 112% |
| Gross operating margin9900 | €40,610 | €22,144 | €26,440 | €24,693 | €14,224 | ▼ 42.4% |
| Operating profit (loss)9901 | €34,389 | €15,638 | €19,355 | €18,516 | €5,072 | ▼ 72.6% |
| Financial income75/76B | - | €72 | - | - | - | - |
| Recurring financial income75 | €154 | €72 | - | - | - | - |
| Financial charges65/66B | - | €6,191 | €8,435 | €9,268 | €10,305 | ▲ 11.2% |
| Recurring financial charges65 | €13,133 | €6,191 | €8,435 | €8,363 | €10,305 | ▲ 23.2% |
| Non-recurring financial charges66B | - | - | - | €905 | - | - |
| Profit (loss) for the period before taxes9903 | €21,410 | €9,519 | €10,920 | €9,248 | -€5,233 | ▼ 157% |
| Income taxes67/77 | €1,075 | €3,797 | €4,539 | €3,258 | €356 | ▼ 89.1% |
| Profit (loss) for the period9904 | €20,335 | €5,722 | €6,381 | €5,990 | -€5,589 | ▼ 193% |
| Profit (loss) for the period to be appropriated9905 | €20,335 | €5,722 | €6,381 | €5,990 | -€5,589 | ▼ 193% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €184,727 | €211,900 | €218,371 | €224,256 | €279,426 | ▲ 24.6% |
| Fixed assets21/28 | €105,640 | €101,306 | €96,974 | €90,802 | €87,750 | ▼ 3.4% |
| Tangible fixed assets22/27 | €103,140 | €98,806 | €94,474 | €90,802 | €87,750 | ▼ 3.4% |
| Land and buildings22 | - | €98,392 | €94,474 | €90,802 | €87,131 | ▼ 4.0% |
| Plant, machinery and equipment23 | - | €414 | - | - | €619 | - |
| Financial fixed assets28 | €2,500 | €2,500 | €2,500 | - | - | - |
| Current assets29/58 | €79,087 | €110,594 | €121,397 | €133,454 | €191,676 | ▲ 43.6% |
| Amounts receivable within one year40/41 | €77,226 | €109,120 | €118,048 | €126,734 | €180,585 | ▲ 42.5% |
| Trade receivables40 | - | €25,819 | €13,487 | €10,722 | €52,222 | ▲ 387% |
| Other amounts receivable41 | - | €83,301 | €104,561 | €116,012 | €128,363 | ▲ 10.6% |
| Cash at bank and in hand54/58 | €772 | €531 | €176 | €76 | €74 | ▼ 2.6% |
| Deferred charges and accrued income490/1 | - | €943 | €3,173 | €6,644 | €11,017 | ▲ 65.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €184,727 | €211,900 | €218,371 | €224,256 | €279,426 | ▲ 24.6% |
| Equity10/15 | €29,763 | €35,486 | €41,867 | €47,857 | €42,268 | ▼ 11.7% |
| Contributions10/11 | - | €18,550 | €18,550 | €18,550 | €18,550 | = |
| Reserves13 | €11,213 | €16,936 | €23,317 | €29,307 | €29,307 | = |
| Non-distributable reserves130/1 | - | €1,855 | €1,855 | €1,855 | €1,855 | = |
| Reserves not available under the articles1311 | - | €1,855 | €1,855 | €1,855 | €1,855 | = |
| Distributable reserves133 | - | €15,081 | €21,462 | €27,452 | €27,452 | = |
| Profit (loss) carried forward14 | - | - | - | - | -€5,589 | - |
| Amounts payable17/49 | €154,964 | €176,414 | €176,504 | €176,399 | €237,158 | ▲ 34.4% |
| Amounts payable after more than one year17 | €117,556 | €111,087 | €118,846 | €104,658 | €104,658 | = |
| Financial debts170/4 | - | €111,087 | €118,846 | €104,658 | €104,658 | = |
| Amounts payable within one year42/48 | €37,408 | €65,327 | €57,658 | €70,965 | €132,500 | ▲ 86.7% |
| Current portion of amounts payable after more than one year42 | - | €7,050 | €11,393 | €15,104 | €3,901 | ▼ 74.2% |
| Trade debts44 | €23,776 | €37,877 | €31,672 | €31,869 | €39,329 | ▲ 23.4% |
| Suppliers440/4 | - | €37,877 | €31,672 | €31,869 | €39,329 | ▲ 23.4% |
| Taxes, remuneration and social security45 | - | €20,400 | €14,593 | €21,539 | €16,497 | ▼ 23.4% |
| Taxes450/3 | - | €20,400 | €14,593 | €21,539 | €16,197 | ▼ 24.8% |
| Remuneration and social security454/9 | - | - | - | - | €300 | - |
| Other amounts payable47/48 | - | - | - | €2,453 | €72,773 | ▲ 2,867% |
| Accrued charges and deferred income492/3 | - | - | - | €776 | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €20,335 | €5,722 | €6,381 | €5,990 | -€5,589 | ▼ 193% |
| + Depreciation and write-downs630 | €4,130 | €4,333 | €4,333 | €3,671 | €3,837 | ▲ 4.5% |
| Operating cash flow (approximation) | €24,465 | €10,055 | €10,714 | €9,661 | -€1,752 | ▼ 118% |
| Investment in fixed assets (approximation) | - | €1 | -€1 | €2,501 | -€785 | ▼ 131% |
| Change in cash | - | -€241 | -€355 | -€100 | -€2 | ▲ 98.0% |
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
28-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 89 days late
2024
31-12
Financial
Weakest financial yearnet -€5,589
Net result drops to -€5,589, the lowest in the series.
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 31 days late
2023
28-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 59 days late
2022
02-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 33 days late
2021
26-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 26 days late
2020
31-12
Financial
Highest result since 2018net €20,335 ▲597%
Operating result €34,389, net result €20,335, both a record.
30-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 61 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
09-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 9 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 31 days late
2015
22-12
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema · 144 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Ham · 1 establishment unit since 2008
Ground area
278 m²
Building footprint
262 m²
Volume, LiDAR
2,293 m³
Parcel 71046A1198/00Z000, Flanders · tallest building 11.8 m, ±3 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
M.N. Management
since 20082.173.729.814
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71046A1198/00Z000 | Flanders | 278 m² | 1 · 262 m² | 11.8 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 24,730 companies in sector 64210 we hold annual accounts for 19,772. 9,885 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 (pre-2019)
Founded10-10-2008
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
47400Retail sale of information and communication equipment
62100Computer programming
Scores and ratios are computed by Checked and are not a credit decision.