MAN CONSTRUCTING
ActiveSummary
The computed 12-month bankruptcy probability of MAN CONSTRUCTING is 2.1% (moderate). The 2025 annual accounts show equity of €44,927 and a net result of -€7,341. Equity is growing by ~18.2% per year across the filed fiscal years. Its solvency ranks better than 45% of 7868 sector peers (fiscal year 2025). The company has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability12▼-47
Solvency65▲+5
Growth64▼-21
Track record100
Bankruptcy probability, 12 months
2.1%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,500 at 30 days only on tighter terms
Liquidity ample (current ratio 1.67 against 1.54 in 2024; short-term debt: 59.8% and cash: 8.9% of total assets), but 59.8% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
40.2%
Return on assets
-6.6%
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 28-08-2026, 28 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 · 9 filingsDeviation from the deadline
2025
28 d late
2024
31 d late
2023
306 d late
2022
30 d late
2021
14 d late
2019
92 d late
2018
19 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 74 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Turnover
€340,257▼ 23.8%
2024 · €446,608
EBIT margin
-1.4%▼ 3.6pp
2024 · 2.2%
Net result
-€7,341
2024 · €7,101
Working capital
€44,662▼ 13.1%
2024 · €51,411
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
Line20212022202320242025
Turnover€308,597-€356,415▲ 15.5%€446,608€340,257▼ 23.8%
Operating result€6,773-€2,160▼ 68.1%€12,554▲ 481%€9,698▼ 22.8%-€4,751
Net result€5,242--€27€11,376€7,101▼ 37.6%-€7,341
EBIT margin2.2%-0.6%▼ 1.6pp2.2%-1.4%▼ 3.6pp
Equity€33,819-€33,792▼ 0.1%€45,168▲ 33.7%€52,269▲ 15.7%€44,927▼ 14.0%
Total assets€73,255-€118,234▲ 61.4%€129,330▲ 9.4%€147,871▲ 14.3%€111,682▼ 24.5%
Debt€39,436-€84,442▲ 114%€84,162▼ 0.3%€95,603▲ 13.6%€66,754▼ 30.2%
Working capital€33,819-€33,792▼ 0.1%€45,168▲ 33.7%€51,411▲ 13.8%€44,662▼ 13.1%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €4,751 after €9,698 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €111,682
Fixed assets
€265 ▼ 69.1%
Current assets
€111,417 ▼ 24.2%
Equity and liabilities €111,682
Equity
€44,927 ▼ 14.0%
Debt
€66,754 ▼ 30.2%
Debt's share of the balance-sheet total falls from 64.7% to 59.8%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€4,159▼
2024 · €10,025
Cash flow
-€6,749▼
2024 · €7,428
Current ratio
1.67▲
2024 · 1.54
Quick ratio
1.52▼
2024 · 1.54
Debt to equity
1.49▼
2024 · 1.83
ROE
-16.3%▼
2024 · 13.6%
ROA
-6.6%▼
2024 · 4.8%
Interest coverage
-21.86▼
2024 · 50.65
Debt ≤ 1 year
€66,754▼
2024 · €95,603
Income taxes
€2,400=
2024 · €2,400
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €308,597 | €356,415 | - | €446,608 | €340,257 | ▼ 23.8% |
| Goods, raw materials, services and sundry goods60/61 | €298,822 | €353,608 | €383,286 | €437,679 | €344,415 | ▼ 21.3% |
| Remuneration, social security and pensions62 | - | - | €112 | €133 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,200 | - | - | €327 | €593 | ▲ 81.0% |
| Other operating charges640/8 | €1,802 | €647 | €612 | €777 | €149 | ▼ 80.9% |
| Gross operating margin9900 | €9,775 | €2,807 | €13,278 | €10,936 | -€4,010 | ▼ 137% |
| Operating profit (loss)9901 | €6,773 | €2,160 | €12,554 | €9,698 | -€4,751 | ▼ 149% |
| Financial income75/76B | - | €5 | - | €1 | €0 | ▼ 98.0% |
| Recurring financial income75 | - | €5 | - | €1 | €0 | ▼ 98.0% |
| Financial charges65/66B | €217 | €192 | €183 | €198 | €190 | ▼ 3.9% |
| Recurring financial charges65 | €173 | €192 | €183 | €198 | €190 | ▼ 3.9% |
| Non-recurring financial charges66B | €44 | - | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €6,556 | €1,973 | €12,371 | €9,501 | -€4,941 | ▼ 152% |
| Income taxes67/77 | €1,314 | €2,000 | €995 | €2,400 | €2,400 | = |
| Profit (loss) for the period9904 | €5,242 | -€27 | €11,376 | €7,101 | -€7,341 | ▼ 203% |
| Profit (loss) for the period to be appropriated9905 | €5,242 | -€27 | €11,376 | €7,101 | -€7,341 | ▼ 203% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €73,255 | €118,234 | €129,330 | €147,871 | €111,682 | ▼ 24.5% |
| Fixed assets21/28 | - | - | - | €858 | €265 | ▼ 69.1% |
| Tangible fixed assets22/27 | - | - | - | €858 | €265 | ▼ 69.1% |
| Furniture and vehicles24 | - | - | - | €858 | €265 | ▼ 69.1% |
| Current assets29/58 | €73,255 | €118,234 | €129,330 | €147,014 | €111,417 | ▼ 24.2% |
| Stocks and contracts in progress3 | - | €21,191 | - | - | €9,906 | - |
| Stocks30/36 | - | €21,191 | - | - | €9,906 | - |
| Amounts receivable within one year40/41 | €57,120 | €83,958 | €97,220 | €145,911 | €91,579 | ▼ 37.2% |
| Trade receivables40 | €56,708 | €82,585 | €82,733 | €145,911 | €72,395 | ▼ 50.4% |
| Other amounts receivable41 | €412 | €1,373 | €14,487 | - | €19,183 | - |
| Cash at bank and in hand54/58 | €16,135 | €13,085 | €32,110 | €1,103 | €9,932 | ▲ 800% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €73,255 | €118,234 | €129,330 | €147,871 | €111,682 | ▼ 24.5% |
| Equity10/15 | €33,819 | €33,792 | €45,168 | €52,269 | €44,927 | ▼ 14.0% |
| Contributions10/11 | €12,000 | €12,000 | €12,000 | €13,204 | €12,000 | ▼ 9.1% |
| Capital10 | €12,000 | - | - | - | - | - |
| Issued capital100 | €18,600 | - | - | - | - | - |
| Uncalled capital101 | €6,600 | - | - | - | - | - |
| Outside capital11 | - | €12,000 | €12,000 | €13,204 | €12,000 | ▼ 9.1% |
| Share premium1100/10 | - | - | €12,000 | - | - | - |
| Other1109/19 | - | €12,000 | - | €13,204 | €12,000 | ▼ 9.1% |
| Reserves13 | €1,204 | €1,204 | €1,204 | - | €1,204 | - |
| Non-distributable reserves130/1 | €1,204 | €1,204 | €1,204 | - | €1,204 | - |
| Legal reserve130 | €1,204 | €1,204 | €1,204 | - | €1,204 | - |
| Profit (loss) carried forward14 | €20,615 | €20,588 | €31,964 | €39,065 | €31,723 | ▼ 18.8% |
| Amounts payable17/49 | €39,436 | €84,442 | €84,162 | €95,603 | €66,754 | ▼ 30.2% |
| Amounts payable within one year42/48 | €39,436 | €84,442 | €84,162 | €95,603 | €66,754 | ▼ 30.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | €19,968 | €19,968 | = |
| Financial debts43 | - | - | - | €371 | - | - |
| Credit institutions430/8 | - | - | - | €371 | - | - |
| Trade debts44 | €26,346 | €70,516 | €79,609 | €50,026 | €43,373 | ▼ 13.3% |
| Suppliers440/4 | €26,346 | €70,516 | €79,609 | €50,026 | €43,373 | ▼ 13.3% |
| Taxes, remuneration and social security45 | €10,026 | €5,847 | €1,474 | €3,543 | €1,473 | ▼ 58.4% |
| Taxes450/3 | €7,584 | €4,704 | €1,431 | €3,500 | €1,431 | ▼ 59.1% |
| Remuneration and social security454/9 | €2,443 | €1,143 | €43 | €43 | €43 | = |
| Other amounts payable47/48 | €3,064 | €8,079 | €3,079 | €21,695 | €1,941 | ▼ 91.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €5,242 | -€27 | €11,376 | €7,101 | -€7,341 | ▼ 203% |
| + Depreciation and write-downs630 | €1,200 | - | - | €327 | €593 | ▲ 81.0% |
| Operating cash flow (approximation) | €6,442 | -€27 | €11,376 | €7,428 | -€6,749 | ▼ 191% |
| Investment in fixed assets (approximation) | - | - | - | - | €0 | - |
| Change in cash | - | -€3,050 | €19,025 | -€31,007 | €8,829 | ▲ 128% |
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
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 28 days late
2025
31-12
Financial
Weakest financial yearnet -€7,341
Net result drops to -€7,341, the lowest in the series.
31-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 31 days late
02-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 306 days late
2023
31-12
Financial
Back to profitnet €11,376
Net result €11,376 after one loss-making year.
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
14-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 14 days late
2020
31-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 92 days late
2019
19-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 19 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
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, Sint-Jans-Molenbeek · 1 establishment unit since 2015
Ground area
81 m²
Building footprint
73 m²
Volume, LiDAR
674 m³
Parcel 21522B0003/00F004, Brussels · tallest building 13.5 m, ±4 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
MAN CONSTRUCTING
since 20152.248.338.056
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21522B0003/00F004 | Brussels | 81 m² | 1 · 73 m² | 13.5 m · 4 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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BE 0712.686.912
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I.P.C.
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Of 15,521 companies in sector 43990 we hold annual accounts for 7,416. 6,016 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
Founded17-12-2015
Fiscal year end31-12
Activities, NACEBEL 2025
43990Other specialised construction activities
Scores and ratios are computed by Checked and are not a credit decision.