Manaccon
ActiveSummary
Manaccon has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.6m and a net result of €392,000. Equity remains stable across the filed fiscal years (±1.4% per year). Its solvency ranks better than 61% of 8737 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability77▼-7
Solvency90▼-10
Growth58▼-20
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €120,000 at 30 days acceptable
Liquidity ample (current ratio 2.1 against 0.36 in 2024; short-term debt: 1.6% and cash: 1.3% of total assets), and 35.4% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer 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
64.6%
Return on assets
16.3%
Age of the figures
9 mo
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
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 10-06-2026, 51 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
51 d early
2024
51 d early
2023
65 d early
2022
52 d early
2021
61 d early
2020
31 d early
2019
58 d early
← 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 53 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% 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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€1.6m▼ 30.8%
2024 · €2.2m
Total assets
€2.4m▲ 1.8%
2024 · €2.4m
Net result
€392,000▲ 38.8%
2024 · €282,511
Working capital
€42,166
2024 · -€74,021
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
Operating result€194,209▲ 7.7%€203,099▲ 4.6%€201,826▼ 0.6%€150,170▼ 25.6%€148,646▼ 1.0%
Net result€292,690▲ 8.4%€270,399▼ 7.6%€287,725▲ 6.4%€282,511▼ 1.8%€392,000▲ 38.8%
Equity€2.4m▲ 13.6%€1.9m▼ 23.5%€2.1m▲ 13.7%€2.2m▲ 5.1%€1.6m▼ 30.8%
Total assets€2.8m▲ 7.1%€2.4m▼ 12.2%€2.4m=€2.4m▼ 3.0%€2.4m▲ 1.8%
Debt€317,948▼ 25.5%€555,572▲ 74.7%€297,925▼ 46.4%€115,401▼ 61.3%€848,435▲ 635%
Working capital€310,555▲ 184%-€43,282-€89,247▼ 106%-€74,021▲ 17.1%€42,166
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2025 is 1% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.4m
Fixed assets
€2.3m ▲ 0.1%
Current assets
€80,535 ▲ 96.1%
Equity and liabilities €2.4m
Equity
€1.6m ▼ 30.8%
Debt
€848,435 ▲ 635%
Debt's share of the balance-sheet total rises from 4.9% to 35.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€151,145▼
2024 · €151,954
Cash flow
€394,499▲
2024 · €284,294
Current ratio
2.10▲
2024 · 0.36
Debt to equity
0.55▲
2024 · 0.05
ROE
25.3%▲
2024 · 12.6%
ROA
16.3%▲
2024 · 12.0%
Interest coverage
4.57▼
2024 · 20.59
Debt ≤ 1 year
€38,369▼
2024 · €115,091
Debt > 1 year
€809,245▲
2024 · €0
Income taxes
€24,595▼
2024 · €60,908
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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11,423 | €10,764 | €19,620 | €1,784 | €2,499 | ▲ 40.1% |
| Other operating charges640/8 | €2,397 | €2,812 | €1,915 | €32,880 | €1,611 | ▼ 95.1% |
| Gross operating margin9900 | €208,029 | €216,675 | €223,361 | €184,833 | €152,756 | ▼ 17.4% |
| Operating profit (loss)9901 | €194,209 | €203,099 | €201,826 | €150,170 | €148,646 | ▼ 1.0% |
| Financial income75/76B | €179,955 | €149,961 | €175,143 | €200,630 | €301,026 | ▲ 50.0% |
| Recurring financial income75 | €179,955 | €149,961 | €175,143 | €200,630 | €301,026 | ▲ 50.0% |
| Financial charges65/66B | €9,838 | €9,685 | €18,664 | €7,381 | €33,077 | ▲ 348% |
| Recurring financial charges65 | €9,838 | €9,685 | €18,664 | €7,381 | €33,077 | ▲ 348% |
| Profit (loss) for the period before taxes9903 | €364,327 | €343,375 | €358,305 | €343,419 | €416,595 | ▲ 21.3% |
| Income taxes67/77 | €71,636 | €72,975 | €70,580 | €60,908 | €24,595 | ▼ 59.6% |
| Profit (loss) for the period9904 | €292,690 | €270,399 | €287,725 | €282,511 | €392,000 | ▲ 38.8% |
| Profit (loss) for the period to be appropriated9905 | €292,690 | €270,399 | €287,725 | €282,511 | €392,000 | ▲ 38.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.8m | €2.4m | €2.4m | €2.4m | €2.4m | ▲ 1.8% |
| Fixed assets21/28 | €2.3m | €2.3m | €2.4m | €2.3m | €2.3m | ▲ 0.1% |
| Tangible fixed assets22/27 | €36,281 | €25,517 | €75,221 | €12,802 | €15,871 | ▲ 24.0% |
| Plant, machinery and equipment23 | €2,046 | €1,190 | €334 | €1,697 | €5,197 | ▲ 206% |
| Furniture and vehicles24 | €6,849 | €4,160 | €61,939 | €884 | €846 | ▼ 4.2% |
| Other tangible fixed assets26 | €27,386 | €20,167 | €12,948 | €10,221 | €9,827 | ▼ 3.8% |
| Financial fixed assets28 | €2.3m | €2.3m | €2.3m | €2.3m | €2.3m | = |
| Current assets29/58 | €428,503 | €102,290 | €52,664 | €41,070 | €80,535 | ▲ 96.1% |
| Amounts receivable within one year40/41 | €56,071 | €24,125 | €4,477 | €14,936 | €49,595 | ▲ 232% |
| Trade receivables40 | €56,071 | €12,100 | €0 | - | - | - |
| Other amounts receivable41 | €0 | €12,025 | €4,477 | €14,936 | €49,595 | ▲ 232% |
| Cash at bank and in hand54/58 | €370,218 | €75,971 | €45,537 | €25,007 | €30,258 | ▲ 21.0% |
| Deferred charges and accrued income490/1 | €2,213 | €2,194 | €2,651 | €1,127 | €683 | ▼ 39.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.8m | €2.4m | €2.4m | €2.4m | €2.4m | ▲ 1.8% |
| Equity10/15 | €2.4m | €1.9m | €2.1m | €2.2m | €1.6m | ▼ 30.8% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €2.4m | €1.9m | €2.1m | €2.2m | €1.5m | ▼ 31.0% |
| Non-distributable reserves130/1 | €22,500 | €0 | - | - | - | - |
| Reserves not available under the articles1311 | €22,500 | €0 | - | - | - | - |
| Distributable reserves133 | €2.4m | €1.9m | €2.1m | €2.2m | €1.5m | ▼ 31.0% |
| Profit (loss) carried forward14 | €1,406 | €1,805 | €2,031 | €2,041 | €41 | ▼ 98.0% |
| Amounts payable17/49 | €317,948 | €555,572 | €297,925 | €115,401 | €848,435 | ▲ 635% |
| Amounts payable after more than one year17 | €200,000 | €410,000 | €155,814 | €0 | €809,245 | - |
| Financial debts170/4 | €200,000 | €410,000 | €155,814 | €0 | €809,245 | - |
| Amounts payable within one year42/48 | €117,948 | €145,572 | €141,911 | €115,091 | €38,369 | ▼ 66.7% |
| Current portion of amounts payable after more than one year42 | €100,000 | €115,000 | €126,606 | €115,000 | €0 | ▼ 100% |
| Financial debts43 | €0 | - | - | - | - | - |
| Credit institutions430/8 | €0 | - | - | - | - | - |
| Trade debts44 | €3,028 | €14,493 | €3,747 | €53 | €58 | ▲ 9.1% |
| Suppliers440/4 | €3,028 | €14,493 | €3,747 | €53 | €58 | ▲ 9.1% |
| Taxes, remuneration and social security45 | €14,920 | €10,186 | €11,558 | €37 | €16,548 | ▲ 44,039% |
| Taxes450/3 | €14,920 | €10,186 | €11,558 | €37 | €13,216 | ▲ 35,151% |
| Remuneration and social security454/9 | - | - | - | - | €3,332 | - |
| Other amounts payable47/48 | - | €5,893 | €0 | - | €21,763 | - |
| Accrued charges and deferred income492/3 | - | - | €200 | €310 | €821 | ▲ 165% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €292,690 | €270,399 | €287,725 | €282,511 | €392,000 | ▲ 38.8% |
| + Depreciation and write-downs630 | €11,423 | €10,764 | €19,620 | €1,784 | €2,499 | ▲ 40.1% |
| Operating cash flow (approximation) | €304,114 | €281,163 | €307,345 | €284,294 | €394,499 | ▲ 38.8% |
| Investment in fixed assets (approximation) | - | €0 | -€69,324 | €60,636 | -€5,568 | ▼ 109% |
| Change in cash | - | -€294,248 | -€30,434 | -€20,530 | €5,251 | ▲ 126% |
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
15-09
State Gazette act
Resignations: Erik Hellemans (director) and Alexander Hellemans (director)Appointments: Nydogun BV (director) and Alexander Hellemans (director) · Permanent representative: Erik Hellemans · Director discharge15 facts ▸
State Gazette act
Resignations: Erik Hellemans (director) and Alexander Hellemans (director)
Appointments: Nydogun BV (director) and Alexander Hellemans (director) · Permanent representative: Erik Hellemans · Director discharge15 facts ▸
- General meeting, 20-08-2026
- Director resignation, Erik Hellemans (director)
- Director resignation, Alexander Hellemans (director)
- Director discharge, Erik Hellemans
- Director discharge, Alexander Hellemans
- Director appointment, Nydogun BV (director)
- Director appointment, Alexander Hellemans (director)
- Permanent representative, Erik Hellemans (permanent representative)
- Other statement, compensation, onbezoldigd
- Other statement, compensation, onbezoldigd
- Declaration, geen veroordeling tot verbod, no ban declaration
- Declaration, geen veroordeling tot verbod, no ban declaration
- +3 further facts in this act
10-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2018net €392,000 ▲38.8%
Net result €392,000, the highest in the series.
31-12
Financial
Liquidity times 6current ratio 2.10
Current ratio from 0.36 to 2.10; short-term debt falls from €115,091 to €38,369.
10-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
27-05
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Equity above €2mEq €2.1m ▲13.7%
6 profitable years in a row build equity to €2.1m.
09-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-05
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Equity above €2mEq €2.2m ▲9.9%
3 profitable years in a row build equity to €2.2m.
03-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
Show earlier events
2019
31-12
Financial
Liquidity triplescurrent ratio 1.15
Current ratio from 0.45 to 1.15; short-term debt falls from €161,407 to €158,899.
12-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
01-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
21-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 9 acts read
About the unread acts
Of the 9 Belgian State Gazette acts we know for this company, 1 has been read. The other 8 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 directors, last change in 2026
Alexander Hellemans
CurrentDirector · since 15-09-2026
Nydogun BV
CurrentDirector · since 15-09-2026 · Legal entity
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
8 of this company's 9 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Menen · 1 establishment unit since 2011
Ground area
3,040 m²
Building footprint
2,980 m²
Volume, LiDAR
18,137 m³
Parcel 34024A0577/00A006, Flanders · tallest building 7.5 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
MANACCON
since 20112.202.002.839
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34024A0577/00A006 | Flanders | 3,040 m² | 1 · 2,980 m² | 7.5 m · 2 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.
Mandate history
3 people since 2026, 2 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Alexander Hellemans |
|
| Nydogun BV |
|
| Erik Hellemans |
|
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 31-12-2025 list no shareholders, and no other source names one.
Holdings 1
-
100%
According to the 2025 annual accounts of Manaccon and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
2 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, scroll to zoom.
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Of 82,642 companies in sector 70200 we hold annual accounts for 52,590. 23,021 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
Founded08-09-2011
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0839191540
Registered
27-03-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.