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MANAGING BUSINESS

Judicial reorganisation
Private limited company (pre-2019)founded 1992active for 34 yearsPlace du Ballon 24, 6040 Charleroi, BelgiumKBO/BCE: BE 0446.577.607

Financials · financial year 2026, abbreviated format

Annual accounts 2026 filed on 31-08-2026 at the NBB all 33 filings

Turnover
€312,186▲ 13.3%
2025 · €275,633
EBIT margin
5.0%▼ 3.7pp
2025 · 8.8%
Net result
€5,740▼ 65.6%
2025 · €16,663
Working capital
€121,914▲ 20.8%
2025 · €100,892
Trend over the years

2022 to 2026, 5 financial years 2019 to 2026, 8 financial years

The operating result for 2026 is 35% lower than in 2025 and the lowest since 2022. It is the second fall in a row.

Turnover€312,186 2026 Operating result€15,747 2026 Net result€5,740 2026

Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.

Use the arrow keys on the chart for the figures per year.

The sector band is the middle half of the companies in Legal and accounting activities (NACE 69). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio and return on assets (ROA).

Every figure with its change against the financial year before
favourable unfavourable
Line20192020202120222023202420252026
Turnover€73,161-€139,094▲ 90.1%€157,024▲ 12.9%€135,532▼ 13.7%€186,459▲ 37.6%€275,633€312,186▲ 13.3%
Operating result€3,808-€3,523▼ 7.5%€24,013▲ 582%€24,755▲ 3.1%€22,401▼ 9.5%€28,768▲ 28.4%€24,142▼ 16.1%€15,747▼ 34.8%
Net result€1,925-€2,071▲ 7.6%€20,273within the sector's middle half▲ 879%€25,042within the sector's middle half▲ 23.5%€16,875within the sector's middle half▼ 32.6%€21,238within the sector's middle half▲ 25.9%€16,663within the sector's middle half▼ 21.5%€5,740▼ 65.6%
EBIT margin5.2%-2.5%▼ 2.7pp15.3%▲ 12.8pp18.3%▲ 3.0pp12.0%▼ 6.3pp8.8%5.0%▼ 3.7pp
Equity€18,923-€20,994▲ 10.9%€41,267below the sector's middle half▲ 96.6%€66,308within the sector's middle half▲ 60.7%€83,183within the sector's middle half▲ 25.4%€104,422within the sector's middle half▲ 25.5%€121,084within the sector's middle half▲ 16.0%€126,824▲ 4.7%
Total assets€100,402-€108,153▲ 7.7%€134,303below the sector's middle half▲ 24.2%€148,826below the sector's middle half▲ 10.8%€171,909within the sector's middle half▲ 15.5%€195,810within the sector's middle half▲ 13.9%€299,949within the sector's middle half▲ 53.2%€338,944▲ 13.0%
Debt€81,479-€87,159▲ 7.0%€93,036▲ 6.7%€82,518▼ 11.3%€88,725▲ 7.5%€91,388▲ 3.0%€178,865▲ 95.7%€212,120▲ 18.6%
Working capital€12,507-€4,534▼ 63.7%€48,701within the sector's middle half▲ 974%€31,315within the sector's middle half▼ 35.7%€59,257within the sector's middle half▲ 89.2%€90,594within the sector's middle half▲ 52.9%€100,892within the sector's middle half▲ 11.4%€121,914▲ 20.8%
Solvency18.8%-19.4%▲ 0.6pp30.7%within the sector's middle half▲ 11.3pp44.6%within the sector's middle half▲ 13.8pp48.4%within the sector's middle half▲ 3.8pp53.3%within the sector's middle half▲ 4.9pp40.4%within the sector's middle half▼ 13.0pp37.4%▼ 3.0pp
Current ratio1.19-1.05▼ 0.131.93within the sector's middle half▲ 0.881.67within the sector's middle half▼ 0.261.97within the sector's middle half▲ 0.302.29within the sector's middle half▲ 0.321.63within the sector's middle half▼ 0.661.63=
Return on assets (ROA)1.9%-1.9%=15.1%within the sector's middle half▲ 13.2pp16.8%within the sector's middle half▲ 1.7pp9.8%within the sector's middle half▼ 7.0pp10.8%within the sector's middle half▲ 1.0pp5.6%below the sector's middle half▼ 5.3pp1.7%▼ 3.9pp
Staff (FTE)0.3-
above within below The sector band is the middle half of the companies in Legal and accounting activities (NACE 69). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €338,944
Fixed assets €23,824 ▼ 39.1%
Current assets €315,120 ▲ 20.8%
Equity and liabilities €338,944
Equity €126,824 ▲ 4.7%
Debt €212,120 ▲ 18.6%
Debt's share of the balance-sheet total rises from 59.6% to 62.6%. Equity and debt are higher.
Key figures and ratios
2026 value · change against 2025
EBITDA
€31,029▼
2025 · €39,911
Cash flow
€21,022▼
2025 · €32,432
Debt to equity
1.67▲
2025 · 1.48
ROE
4.5%▼
2025 · 13.8%
Interest coverage
3.05▼
2025 · 5.25
Debt ≤ 1 year
€193,206▲
2025 · €159,952
Debt > 1 year
€18,913=
2025 · €18,913
Customer credit
298 days▲
2025 · 238 days
Supplier credit
80 days▼
2025 · 413 days
Staff costs
€289,628▲
2025 · €263,242
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Investments

fixed assets acquired
Item31-03-202231-03-202331-03-202431-03-202531-03-2026
Intangible fixed assets€50,000--€20,000-
Depreciation and write-downs of the year€10,881€19,415€16,778€15,770€15,282

Source: notes to the 2022 to 2026 annual accounts (statement of fixed assets)

Comparable companies

These companies have the same main activity as MANAGING BUSINESS: certified accountants and tax accountants (NACE 69201). They are comparable in size and age: total assets between €322,000 and €390,000, founded between 1990 and 1996.

CompanyFoundedTotal assetsEquityGross marginTurnoverNet resultFTEFinancial year
MANAGING BUSINESS Charleroi1992€338,944€126,824€321,945€312,186€5,740-2026
CANON ALAIN & CIE Beloeil1994€390,244€280,380€330,218-€72,106-2025
LA FIDUCIAIRE COLOMBI La Louvière1996€361,304€285,799€300,164-€195,487-2025
BOLIPA Wuustwezel1991€363,232€258,608€306,818-€113,548-2025
ACCORFI Deinze1990€350,188€20,900€301,247-€227,173-2026
Fiducial Tax & Legal Consulting Brussel1990€321,664€227,989-€287,915€2,6551.52025
Fiduciaire Thunus et Associés Stavelot1990€363,512€242,883€292,865-€9,9385.62025

They were chosen from the 7,240 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity

Annual accounts
Filed annual accounts As filed with the NBB · 2026 against 2025 · 48 lines

Source: Annual accounts 2026 at the NBB, filed on 31-08-2026.

Balance sheet Code20252026
Assets
Total assets20/58€299,949€338,944▲
Fixed assets21/28€39,106€23,824▼
Intangible fixed assets21€39,106€23,824▼
Current assets29/58€260,844€315,120▲
Amounts receivable after more than one year29€71,085€56,055▼
Other amounts receivable291€71,085€56,055▼
Amounts receivable within one year40/41€182,510€256,732▲
Trade receivables40€179,726€254,474▲
Other amounts receivable41€2,784€2,259▼
Cash at bank and in hand54/58€7,249€2,333▼
Equity and liabilities
Total equity and liabilities10/49€299,949€338,944▲
Equity10/15€121,084€126,824▲
Contributions10/11€18,600€18,600=
Capital10€18,600€18,600=
Issued capital100€18,600€18,600=
Reserves13€1,860€1,860=
Non-distributable reserves130/1€1,860€1,860=
Legal reserve130€1,860€1,860=
Profit (loss) carried forward14€100,624€106,364▲
Amounts payable17/49€178,865€212,120▲
Amounts payable after more than one year17€18,913€18,913=
Other amounts payable178/9€18,913€18,913=
Amounts payable within one year42/48€159,952€193,206▲
Current portion of amounts payable after more than one year42€2,446€935▼
Trade debts44€35,117€8,697▼
Suppliers440/4€35,117€8,697▼
Taxes, remuneration and social security45€122,268€183,574▲
Taxes450/3€57,803€74,673▲
Remuneration and social security454/9€64,466€108,901▲
Other amounts payable47/48€120-
Income statement Code20252026
Turnover70€275,633€312,186▲
Non-recurring operating income76A€1,631€64▼
Goods, raw materials, services and sundry goods60/61€31,070€39,846▲
Remuneration, social security and pensions62€263,242€289,628▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€15,770€15,282▼
Other operating charges640/8€407€415▲
Non-recurring operating charges66A-€873
Gross operating margin9900€303,560€321,945▲
Operating profit (loss)9901€24,142€15,747▼
Financial income75/76B€119€168▲
Recurring financial income75€119€168▲
Financial charges65/66B€7,598€10,175▲
Recurring financial charges65€7,598€10,175▲
Profit (loss) for the period before taxes9903€16,663€5,740▼
Profit (loss) for the period9904€16,663€5,740▼
Profit (loss) for the period to be appropriated9905€16,663€5,740▼
Appropriation of the result
Profit (loss) to be appropriated9906€100,624€106,364▲
Profit (loss) brought forward from the previous period14P€83,962€100,624▲

The notes to these accounts have 3 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Line20192020202120222023202420252026Change
Turnover70€73,161€139,094€157,024€135,532€186,459-€275,633€312,186▲ 13.3%
Non-recurring operating income76A---€4,623€1,613€1,044€1,631€64▼ 96.1%
Goods, raw materials, services and sundry goods60/61---€46,013€35,557-€31,070€39,846▲ 28.2%
Remuneration, social security and pensions62---€97,840€145,235€188,134€263,242€289,628▲ 10.0%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2,637€4,356€8,133€10,881€19,415€16,778€15,770€15,282▼ 3.1%
Other operating charges640/8---€344€374€901€407€415▲ 2.0%
Non-recurring operating charges66A---€502€2,530€353-€873-
Gross operating margin9900€56,308€77,120€104,497€134,322€189,955€234,934€303,560€321,945▲ 6.1%
Operating profit (loss)9901€3,808€3,523€24,013€24,755€22,401€28,768€24,142€15,747▼ 34.8%
Financial income75/76B---€4,535€196€914€119€168▲ 41.1%
Recurring financial income75€0€100€2,530€4,535€196€914€119€168▲ 41.1%
Financial charges65/66B---€3,944€4,787€8,443€7,598€10,175▲ 33.9%
Recurring financial charges65€1,883€1,551€5,910€3,944€4,787€8,443€7,598€10,175▲ 33.9%
Profit (loss) for the period before taxes9903€1,925€2,071€20,633€25,346€17,810€21,238€16,663€5,740▼ 65.6%
Income taxes67/77€0€0€360€304€935€0---
Profit (loss) for the period9904€1,925€2,071€20,273€25,042€16,875€21,238€16,663€5,740▼ 65.6%
Profit (loss) for the period to be appropriated9905€1,925€2,071€20,273€25,042€16,875€21,238€16,663€5,740▼ 65.6%
Line20192020202120222023202420252026Change
Assets
Total assets20/58€100,402€108,153€134,303€148,826€171,909€195,810€299,949€338,944▲ 13.0%
Fixed assets21/28€20,816€16,460€33,449€71,068€51,653€34,875€39,106€23,824▼ 39.1%
Intangible fixed assets21€19,141€14,785€31,949€71,068€51,653€34,875€39,106€23,824▼ 39.1%
Financial fixed assets28€1,675€1,675€1,500------
Current assets29/58€79,586€91,693€100,854€77,758€120,256€160,935€260,844€315,120▲ 20.8%
Amounts receivable after more than one year29-----€73,085€71,085€56,055▼ 21.1%
Other amounts receivable291-----€73,085€71,085€56,055▼ 21.1%
Amounts receivable within one year40/41€74,000€62,030€68,255€71,784€115,800€84,342€182,510€256,732▲ 40.7%
Trade receivables40---€53,994€100,851€76,215€179,726€254,474▲ 41.6%
Other amounts receivable41---€17,790€14,949€8,127€2,784€2,259▼ 18.9%
Cash at bank and in hand54/58€5,586€246€1,994€5,975€4,456€3,426€7,249€2,333▼ 67.8%
Deferred charges and accrued income490/1-----€82---
Equity and liabilities
Total equity and liabilities10/49€100,402€108,153€134,303€148,826€171,909€195,810€299,949€338,944▲ 13.0%
Equity10/15€18,923€20,994€41,267€66,308€83,183€104,422€121,084€126,824▲ 4.7%
Contributions10/11€18,600€18,600€18,600€18,600€18,600€18,600€18,600€18,600=
Capital10---€18,600€18,600€18,600€18,600€18,600=
Issued capital100---€18,600€18,600€18,600€18,600€18,600=
Reserves13€1,860€1,860€1,860€1,860€1,860€1,860€1,860€1,860=
Non-distributable reserves130/1---€1,860€1,860€1,860€1,860€1,860=
Legal reserve130---€1,860€1,860€1,860€1,860€1,860=
Profit (loss) carried forward14-€1,538€534€20,807€45,848€62,723€83,962€100,624€106,364▲ 5.7%
Amounts payable17/49€81,479€87,159€93,036€82,518€88,725€91,388€178,865€212,120▲ 18.6%
Amounts payable after more than one year17€14,400-€40,883€36,075€27,727€21,048€18,913€18,913=
Financial debts170/4---€10,380€4,709€0---
Other amounts payable178/9---€25,695€23,019€21,048€18,913€18,913=
Amounts payable within one year42/48€67,079€87,159€52,153€46,443€60,998€70,340€159,952€193,206▲ 20.8%
Current portion of amounts payable after more than one year42---€3,735€7,803€6,679€2,446€935▼ 61.8%
Financial debts43-----€3,510---
Credit institutions430/8-----€3,510---
Trade debts44€9,992€25,375€19,981€11,086€20,031€35,923€35,117€8,697▼ 75.2%
Suppliers440/4---€11,086€20,031€35,923€35,117€8,697▼ 75.2%
Taxes, remuneration and social security45---€31,621€33,165€24,228€122,268€183,574▲ 50.1%
Taxes450/3---€10,831€4,131€1,270€57,803€74,673▲ 29.2%
Remuneration and social security454/9---€20,790€29,034€22,958€64,466€108,901▲ 68.9%
Other amounts payable47/48------€120--
Line20192020202120222023202420252026Change
Profit (loss) for the period9904€1,925€2,071€20,273€25,042€16,875€21,238€16,663€5,740▼ 65.6%
+ Depreciation and write-downs630€2,637€4,356€8,133€10,881€19,415€16,778€15,770€15,282▼ 3.1%
Operating cash flow (approximation)€4,562€6,427€28,406€35,922€36,290€38,016€32,432€21,022▼ 35.2%
Investment in fixed assets (approximation)-€0-€25,122-€48,500€0€0-€20,000€0-
Change in cash--€5,339€1,748€3,980-€1,519-€1,030€3,823-€4,916-

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

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Latest 10 of 33 filings with the National Bank
Financial year Type Filed Reference Document
31-03-2026 abbreviated format 31-08-2026 2026-00492978 NBB
31-03-2025 micro format 05-08-2025 2025-00371621 PDF
31-03-2024 micro format 02-10-2024 2024-00497342 PDF
31-03-2023 micro format 31-08-2023 2023-00441277 PDF
31-03-2022 full format 31-08-2022 2022-20426274 PDF
31-03-2021 full format 31-08-2021 2021-66000213 PDF
31-03-2020 full format 23-10-2020 2020-64400012 PDF
31-03-2019 full format 30-08-2019 2019-62500401 PDF
31-03-2018 full format 31-08-2018 2018-61000288 PDF
31-03-2017 full format 15-12-2017 2017-72100503 PDF

Show all 33 filings