MANACO
ActiveSummary
MANACO has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€78,829) and a net result of €21,482. Equity is shrinking by ~6.9% per year across the filed fiscal years. Its solvency ranks better than 5% of 31896 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency0=
Growth58=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
balance sheet total too small for a liquidity verdict, and equity is negative.
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Signals
Six 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 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer 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 2025Age of the figures
Age of the figures
12 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
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 31896 sector peers (2025).
NBB · sector comparisonPosition among 31896 sector peers
Solvency
better than 5%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 17-04-2026, 13 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
13 d early
2024
36 d early
2023
40 d early
2022
17 d early
2021
31 d early
2020
27 d late
2019
10 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 17 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 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
28-09-2026 today30-09-2026 close30-04-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
-€78,829▲ 21.4%
2024 · -€100,310
Total assets
€4,905▲ 37.4%
2024 · €3,569
Net result
€21,482▼ 22.8%
2024 · €27,840
Working capital
€2,421
2024 · -€19,272
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€10,238▲ 34.1%-€5,183▲ 49.4%-€2,702▲ 47.9%€30,919€23,497▼ 24.0%
Net result-€13,577below the sector's middle half▲ 29.6%-€8,239below the sector's middle half▲ 39.3%-€5,434below the sector's middle half▲ 34.0%€27,840within the sector's middle half€21,482within the sector's middle half▼ 22.8%
Equity-€113,096below the sector's middle half▼ 14.4%-€122,026below the sector's middle half▼ 7.9%-€128,150below the sector's middle half▼ 5.0%-€100,310below the sector's middle half▲ 21.7%-€78,829below the sector's middle half▲ 21.4%
Total assets€23,895below the sector's middle half▼ 26.6%€15,996below the sector's middle half▼ 33.1%€9,095below the sector's middle half▼ 43.1%€3,569below the sector's middle half▼ 60.8%€4,905below the sector's middle half▲ 37.4%
Debt€136,991▲ 4.3%€138,022▲ 0.8%€137,246▼ 0.6%€103,879▼ 24.3%€83,733▼ 19.4%
Working capital-€123,382▼ 16.3%-€137,997▼ 11.8%-€136,228▲ 1.3%-€19,272▲ 85.9%€2,421
Solvency-473.3%below the sector's middle half▼ 169.7pp-762.9%below the sector's middle half▼ 289.5pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 24% below 2024.
Key figures and ratios
Debt ≤ 1 year
€2,484▼
2024 · €22,559
Debt > 1 year
€81,249▼
2024 · €81,320
Ratios withheld: a balance sheet total of €4,905 is too small for a meaningful ratio.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,798 companies that looked in July 2024 the way this one looks now, 2.5% went bankrupt within 24 months and 91% are still going.
- Micro
- 20 years or older
- negative equity
- a profit of 5% of the balance sheet or more
2.5%
went bankrupt
5.3%
stopped otherwise
91%
still going
A further 0.8% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.2% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 3,798 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,894 | €7,894 | €7,894 | €7,796 | - | - |
| Other operating charges640/8 | - | €1,445 | €1,196 | €1,629 | €1,683 | ▲ 3.4% |
| Gross operating margin9900 | -€932 | €4,155 | €6,388 | €40,344 | €25,180 | ▼ 37.6% |
| Operating profit (loss)9901 | -€10,238 | -€5,183 | -€2,702 | €30,919 | €23,497 | ▼ 24.0% |
| Financial income75/76B | - | €690 | €690 | - | - | - |
| Recurring financial income75 | €690 | €690 | €690 | - | - | - |
| Financial charges65/66B | - | €3,746 | €3,423 | €3,079 | €2,015 | ▼ 34.6% |
| Recurring financial charges65 | €4,029 | €3,746 | €3,423 | €3,079 | €2,015 | ▼ 34.6% |
| Profit (loss) for the period before taxes9903 | -€13,577 | -€8,239 | -€5,434 | €27,840 | €21,482 | ▼ 22.8% |
| Profit (loss) for the period9904 | -€13,577 | -€8,239 | -€5,434 | €27,840 | €21,482 | ▼ 22.8% |
| Profit (loss) for the period to be appropriated9905 | -€13,577 | -€8,239 | -€5,434 | €27,840 | €21,482 | ▼ 22.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €23,895 | €15,996 | €9,095 | €3,569 | €4,905 | ▲ 37.4% |
| Fixed assets21/28 | €23,865 | €15,971 | €8,077 | €282 | - | - |
| Tangible fixed assets22/27 | €23,780 | €15,886 | €7,992 | €197 | - | - |
| Land and buildings22 | - | €15,886 | €7,992 | €197 | - | - |
| Financial fixed assets28 | €85 | €85 | €85 | €85 | - | - |
| Current assets29/58 | €30 | €25 | €1,018 | €3,287 | €4,905 | ▲ 49.2% |
| Amounts receivable within one year40/41 | - | - | - | €3,195 | €3,557 | ▲ 11.3% |
| Trade receivables40 | - | - | - | €3,195 | €3,557 | ▲ 11.3% |
| Cash at bank and in hand54/58 | €30 | €25 | €12 | €0 | €1,278 | ▲ 266,250% |
| Deferred charges and accrued income490/1 | - | - | €1,006 | €91 | €69 | ▼ 24.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €23,895 | €15,996 | €9,095 | €3,569 | €4,905 | ▲ 37.4% |
| Equity10/15 | -€113,096 | -€122,026 | -€128,150 | -€100,310 | -€78,829 | ▲ 21.4% |
| Contributions10/11 | - | €8,600 | €8,600 | €8,600 | €8,600 | = |
| Reserves13 | €642 | €642 | €642 | €642 | €642 | = |
| Non-distributable reserves130/1 | - | €642 | €642 | €642 | €642 | = |
| Reserves not available under the articles1311 | - | €642 | €642 | €642 | €642 | = |
| Profit (loss) carried forward14 | -€123,719 | -€131,959 | -€137,393 | -€109,553 | -€88,071 | ▲ 19.6% |
| Investment grants15 | - | €690 | - | - | - | - |
| Amounts payable17/49 | €136,991 | €138,022 | €137,246 | €103,879 | €83,733 | ▼ 19.4% |
| Amounts payable after more than one year17 | €13,579 | - | - | €81,320 | €81,249 | ▼ 0.1% |
| Other amounts payable178/9 | - | - | - | €81,320 | €81,249 | ▼ 0.1% |
| Amounts payable within one year42/48 | €123,412 | €138,022 | €137,246 | €22,559 | €2,484 | ▼ 89.0% |
| Current portion of amounts payable after more than one year42 | - | €13,579 | €1,967 | - | - | - |
| Financial debts43 | - | €20,313 | €23,434 | €18,737 | - | - |
| Credit institutions430/8 | - | €20,313 | €23,434 | €18,737 | - | - |
| Trade debts44 | €1,413 | €1,496 | €1,253 | €2,152 | €1,257 | ▼ 41.6% |
| Suppliers440/4 | - | €1,496 | €1,253 | €2,152 | €1,257 | ▼ 41.6% |
| Taxes, remuneration and social security45 | - | - | - | €1,670 | €1,227 | ▼ 26.5% |
| Taxes450/3 | - | - | - | €1,670 | €1,227 | ▼ 26.5% |
| Other amounts payable47/48 | - | €102,635 | €110,591 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€13,577 | -€8,239 | -€5,434 | €27,840 | €21,482 | ▼ 22.8% |
| + Depreciation and write-downs630 | €7,894 | €7,894 | €7,894 | €7,796 | - | - |
| Operating cash flow (approximation) | -€5,683 | -€345 | €2,460 | €35,636 | €21,482 | ▼ 39.7% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | - | - |
| Change in cash | - | -€5 | -€13 | -€12 | €1,278 | ▲ 11,023% |
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
17-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Liquidity times 14current ratio 1.97
Current ratio from 0.15 to 1.97; short-term debt falls from €22,559 to €2,484.
25-03
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-09
Financial
Back to profitnet €27,840
Net result €27,840 after 6 loss-making years.
21-03
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
13-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
27-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 27 days late
2020
30-09
Financial
Weakest financial yearnet -€19,282
Net result drops to -€19,282, the lowest in the series; recovery starts the following year.
20-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
30-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
30-04
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
28-04
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
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, Rixensart · 1 establishment unit since 2003
Ground area
1,055 m²
Building footprint
683 m²
Volume, LiDAR
12,491 m³
2 parcels, Brussels, Wallonia · tallest building 21.9 m, ±7 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Koning Overwinnaarplein 14, 1040 Etterbeek
since 20032.123.454.417
2 parcels
Wallonia
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21362B0216/00X000 | Brussels | 890 m² | 1 · 627 m² | 21.9 m · 7 fl. |
| 25033D0273/00_000 | Wallonia | 165 m² | 1 · 55 m² | 11.1 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.
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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 82,642 companies in sector 70200 we hold annual accounts for 52,626. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded30-09-2002
Fiscal year end30-09
Activities, NACEBEL 2025
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0478438048
Registered
29-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.