MANATEE
ActiveSummary
MANATEE has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €4.0m and a net result of €199,716. Equity is growing by ~59.3% per year across the filed fiscal years. Its solvency ranks better than 48% of 4630 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability43▼-25
Solvency72▲+2
Growth71▼-7
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €45,000 at 30 days acceptable
Liquidity short (current ratio 0.4 against 0.43 in 2023; short-term debt: 31% and cash: 12.2% of total assets), and 53% of the assets are financed with debt.
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Signals
Five 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 →
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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
47%
Return on assets
2.3%
Age of the figures
21 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 25-09-2025, 56 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
56 d late
2023
13 d late
2022
36 d late
2021
30 d late
2020
29 d late
2019
56 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 37 days after 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 (1)
History
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Financials · fiscal year 2024, full schema
Turnover
€495,000▼ 17.5%
2023 · €600,000
EBIT margin
77.4%▼ 1.1pp
2023 · 78.5%
Net result
€199,716▼ 18.8%
2023 · €245,960
Working capital
-€1.6m▼ 11.2%
2023 · -€1.4m
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
Line20202021202220232024
Turnover€322,800▼ 16.4%€270,121▼ 16.3%€439,929▲ 62.9%€600,000▲ 36.4%€495,000▼ 17.5%
Operating result€197,764▼ 18.3%€121,531▼ 38.5%€265,839▲ 119%€471,077▲ 77.2%€382,987▼ 18.7%
Net result€42,559within the sector's middle half▼ 20.8%€375below the sector's middle half▼ 99.1%€149,807within the sector's middle half▲ 39,849%€245,960within the sector's middle half▲ 64.2%€199,716within the sector's middle half▼ 18.8%
EBIT margin61.3%▼ 1.4pp45.0%▼ 16.3pp60.4%▲ 15.4pp78.5%▲ 18.1pp77.4%▼ 1.1pp
Equity€435,351within the sector's middle half▲ 10.8%€3.4mabove the sector's middle half▲ 689%€3.6mabove the sector's middle half▲ 4.4%€3.8mabove the sector's middle half▲ 6.9%€4.0mabove the sector's middle half▲ 5.2%
Total assets€5.0mwithin the sector's middle half▲ 2.2%€4.9mwithin the sector's middle half▼ 2.1%€8.6mabove the sector's middle half▲ 74.8%€8.6mabove the sector's middle half▼ 0.2%€8.6mabove the sector's middle half▲ 0.1%
Debt€4.6m▲ 1.4%€1.5m▼ 67.8%€5.0m▲ 239%€4.7m▼ 5.2%€4.6m▼ 4.0%
Working capital€384,154within the sector's middle half▼ 24.7%€297,520within the sector's middle half▼ 22.6%-€1.3mbelow the sector's middle half-€1.4mbelow the sector's middle half▼ 11.7%-€1.6mbelow the sector's middle half▼ 11.2%
Solvency8.7%below the sector's middle half▲ 0.7pp69.9%within the sector's middle half▲ 61.3pp41.8%within the sector's middle half▼ 28.2pp44.7%within the sector's middle half▲ 2.9pp47.0%within the sector's middle half▲ 2.3pp
Current ratio1.45within the sector's middle half▼ 0.381.35within the sector's middle half▼ 0.100.46below the sector's middle half▼ 0.900.43below the sector's middle half▼ 0.030.40below the sector's middle half▼ 0.02
Return on assets (ROA)0.8%within the sector's middle half▼ 0.2pp0.0%below the sector's middle half▼ 0.8pp1.7%within the sector's middle half▲ 1.7pp2.9%within the sector's middle half▲ 1.1pp2.3%within the sector's middle half▼ 0.5pp
Staff (FTE)0.5below the sector's middle half0.5below the sector's middle half=0.5below the sector's middle half=0.5below the sector's middle half=0.5below the sector's middle half=
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.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 19% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €8.6m
Fixed assets
€7.5m ▼ 0.1%
Current assets
€1.1m ▲ 1.8%
Equity and liabilities €8.6m
Equity
€4.0m ▲ 5.2%
Debt
€4.6m ▼ 4.0%
Debt's share of the balance-sheet total falls from 55.3% to 53.0%. Equity is higher and debt is lower.
Key figures and ratios
Debt to equity
1.13▼
2023 · 1.24
ROE
5.0%▼
2023 · 6.4%
Debt ≤ 1 year
€2.7m▲
2023 · €2.5m
Debt > 1 year
€1.9m▼
2023 · €2.3m
Income taxes
€79,043▼
2023 · €92,309
Staff costs
€31,927▲
2023 · €29,926
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 |
|---|---|---|---|---|---|---|
| Turnover70 | €322,800 | €270,121 | €439,929 | €600,000 | €495,000 | ▼ 17.5% |
| Goods, raw materials, services and sundry goods60/61 | - | €103,688 | €136,364 | €94,089 | €92,712 | ▼ 1.5% |
| Remuneration, social security and pensions62 | - | €25,467 | €25,828 | €29,926 | €31,927 | ▲ 6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10,482 | €10,052 | €2,178 | €2,178 | - | - |
| Other operating charges640/8 | - | €9,383 | €9,720 | €10,417 | €8,700 | ▼ 16.5% |
| Gross operating margin9900 | €237,567 | €166,433 | €303,565 | €513,598 | €423,614 | ▼ 17.5% |
| Operating profit (loss)9901 | €197,764 | €121,531 | €265,839 | €471,077 | €382,987 | ▼ 18.7% |
| Financial income75/76B | - | €7,163 | €344 | - | - | - |
| Recurring financial income75 | €4,172 | €7,163 | €344 | - | - | - |
| Financial charges65/66B | - | €124,935 | €58,518 | €132,808 | €104,228 | ▼ 21.5% |
| Recurring financial charges65 | €152,616 | €124,935 | €58,518 | €132,808 | €104,228 | ▼ 21.5% |
| Profit (loss) for the period before taxes9903 | €49,320 | €3,759 | €207,665 | €338,269 | €278,759 | ▼ 17.6% |
| Income taxes67/77 | €6,761 | €3,384 | €57,858 | €92,309 | €79,043 | ▼ 14.4% |
| Profit (loss) for the period9904 | €42,559 | €375 | €149,807 | €245,960 | €199,716 | ▼ 18.8% |
| Profit (loss) for the period to be appropriated9905 | €42,559 | €375 | €149,807 | €245,960 | €199,716 | ▼ 18.8% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €5.0m | €4.9m | €8.6m | €8.6m | €8.6m | ▲ 0.1% |
| Fixed assets21/28 | €3.8m | €3.8m | €7.5m | €7.5m | €7.5m | ▼ 0.1% |
| Intangible fixed assets21 | - | €0 | - | - | - | - |
| Tangible fixed assets22/27 | €19,464 | €10,719 | €8,541 | €6,362 | - | - |
| Land and buildings22 | - | €0 | - | - | - | - |
| Plant, machinery and equipment23 | - | €0 | - | - | - | - |
| Furniture and vehicles24 | - | €10,719 | €8,541 | €6,362 | - | - |
| Leasing and similar rights25 | - | €0 | - | - | - | - |
| Other tangible fixed assets26 | - | €0 | - | - | - | - |
| Assets under construction and advance payments27 | - | €0 | - | - | - | - |
| Financial fixed assets28 | €3.8m | €3.8m | €7.5m | €7.5m | €7.5m | = |
| Current assets29/58 | €1.2m | €1.1m | €1.1m | €1.1m | €1.1m | ▲ 1.8% |
| Amounts receivable within one year40/41 | €220,458 | €129,149 | €2,066 | €2,066 | €26,700 | ▲ 1,192% |
| Trade receivables40 | - | €21,166 | €2,066 | €2,066 | €24,200 | ▲ 1,071% |
| Other amounts receivable41 | - | €107,983 | - | - | €2,500 | - |
| Cash at bank and in hand54/58 | €1.0m | €1.0m | €1.1m | €1.1m | €1.0m | ▼ 0.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €5.0m | €4.9m | €8.6m | €8.6m | €8.6m | ▲ 0.1% |
| Equity10/15 | €435,351 | €3.4m | €3.6m | €3.8m | €4.0m | ▲ 5.2% |
| Contributions10/11 | €18,600 | €3.0m | €3.0m | €3.0m | €3.0m | = |
| Capital10 | - | €3.0m | €3.0m | €3.0m | €3.0m | = |
| Issued capital100 | - | €3.0m | €3.0m | €3.0m | €3.0m | = |
| Reserves13 | €1,860 | - | - | - | - | - |
| Profit (loss) carried forward14 | €414,891 | €415,267 | €565,074 | €811,034 | €1.0m | ▲ 24.6% |
| Amounts payable17/49 | €4.6m | €1.5m | €5.0m | €4.7m | €4.6m | ▼ 4.0% |
| Amounts payable after more than one year17 | €3.7m | €628,192 | €2.6m | €2.3m | €1.9m | ▼ 16.2% |
| Financial debts170/4 | - | €628,192 | - | - | - | - |
| Other amounts payable178/9 | - | - | €2.6m | €2.3m | €1.9m | ▼ 16.2% |
| Amounts payable within one year42/48 | €856,254 | €847,752 | €2.3m | €2.5m | €2.7m | ▲ 7.2% |
| Current portion of amounts payable after more than one year42 | - | €185,542 | €382,292 | €391,150 | €415,773 | ▲ 6.3% |
| Financial debts43 | - | - | €800,000 | €800,000 | €892,669 | ▲ 11.6% |
| Credit institutions430/8 | - | - | €800,000 | €800,000 | €892,669 | ▲ 11.6% |
| Trade debts44 | €13,278 | €13,975 | €2,705 | €3,997 | €127,969 | ▲ 3,102% |
| Suppliers440/4 | - | €13,975 | €2,705 | €3,997 | €127,969 | ▲ 3,102% |
| Taxes, remuneration and social security45 | - | €33,847 | €89,112 | €185,231 | €91,912 | ▼ 50.4% |
| Taxes450/3 | - | €29,803 | €85,538 | €181,645 | €91,912 | ▼ 49.4% |
| Remuneration and social security454/9 | - | €4,044 | €3,574 | €3,586 | - | - |
| Other amounts payable47/48 | - | €614,388 | €1.1m | €1.1m | €1.1m | ▲ 2.7% |
| Accrued charges and deferred income492/3 | - | €830 | €6,736 | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €42,559 | €375 | €149,807 | €245,960 | €199,716 | ▼ 18.8% |
| + Depreciation and write-downs630 | €10,482 | €10,052 | €2,178 | €2,178 | - | - |
| Operating cash flow (approximation) | €53,041 | €10,427 | €151,985 | €248,138 | €199,716 | ▼ 19.5% |
| Investment in fixed assets (approximation) | - | -€1,307 | -€3.8m | €1 | €6,362 | ▲ 636,100% |
| Change in cash | - | -€3,827 | €51,998 | -€13,548 | -€6,061 | ▲ 55.3% |
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
2026
14-09
State Gazette act
Registered officeRegistered-office move2 facts ▸
State Gazette act
Registered office
Registered-office move2 facts ▸
- General meeting, 08-09-2026
- Registered-office move, Rue de la Croix 54, 1050 Ixelles
2025
25-09
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 56 days late
2024
13-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 13 days late
2023
31-12
Financial
Highest result since 2018net €245,960 ▲64.2%
Operating result €471,077, net result €245,960, both a record.
05-09
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 36 days late
2022
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 30 days late
2021
31-12
Financial
Weakest financial yearnet €375 ▼99.1%
Net result drops to €375, the lowest in the series; recovery starts the following year.
31-12
Financial
Equity above €2mEq €3.4m ▲689%
4 profitable years in a row build equity to €3.4m.
29-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 29 days late
2020
25-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 56 days late
2019
20-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
22-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
26-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
21-06
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 4 acts read
About the unread acts
Of the 4 Belgian State Gazette acts we know for this company, 1 has been read. The other 3 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
4 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Elsene · 1 establishment unit since 2008
Ground area
434 m²
Building footprint
207 m²
Volume, LiDAR
3,236 m³
2 parcels, Brussels · tallest building 19.6 m, ±6 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
Manatee Sprl
since 20082.173.642.118
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21445E0006/00B033 | Brussels | 260 m² | 1 · 96 m² | 19.6 m · 6 fl. |
| 21442A0308/00D003 | Brussels | 174 m² | 1 · 111 m² | 18.4 m · 5 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.
Structure & network
Owners and holdings
2 holdingsOwners 0
No owner stated in the accounts, acts or LEI register we read.
Holdings 2
- WOLFMATsubsidiarySourceaccounts WOLFMAT 202599%
-
50%
According to the annual accounts 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
The group is listed under Ownership & control below; here you explore it as a network.
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Ownership & control
1 board mandateBoard mandates of this companythis company sits on their board1
1 location
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Of 82,642 companies in sector 70200 we hold annual accounts for 52,626. 13,091 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
Founded27-08-2008
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
66199Other activities auxiliary to financial services, excluding insurance and pension funding
69209Other tax advisory services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0899981935
Also
9925:BE0899981935
Registered
24-11-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.