MANATEE (0899.981.935): financials and annual accounts

MANATEE

Ixelles ·KBO/BCE: BE 0899.981.935

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009
Balance sheet: assets
Total assets`20/58`	8.6m	8.6m	8.6m	8.6m	4.9m	5.0m	4.9m	4.9m	455,214	526,047	478,127	478,837	420,294	235,651	162,077	85,281	101,010
Formation expenses`20`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	88	176	264
Fixed assets`21/28`	7.5m	7.5m	7.5m	7.5m	3.8m	3.8m	3.8m	3.8m	25	25	11,812	26,122	40,659	55,155	68,517	242	610
Intangible fixed assets`21`	-	-	-	-	0	-	-	-	0	0	-	-	-	-	-	-	-
Tangible fixed assets`22/27`	-	-	6,362	8,541	10,719	19,464	29,946	40,128	-	-	11,787	26,097	40,593	55,089	68,363	0	280
Land and buildings`22`	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Plant, machinery and equipment`23`	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Furniture and vehicles`24`	-	-	6,362	8,541	10,719	19,464	29,946	40,128	-	-	11,787	26,097	40,593	55,089	68,363	-	280
Leasing and similar rights`25`	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Other tangible fixed assets`26`	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Assets under construction and advance payments`27`	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Financial fixed assets`28`	7.5m	7.5m	7.5m	7.5m	3.8m	3.8m	3.8m	3.8m	25	25	25	25	66	66	66	66	66
Current assets`29/58`	1.1m	1.1m	1.1m	1.1m	1.1m	1.2m	1.1m	1.1m	455,189	526,022	466,315	452,715	379,635	180,496	93,560	85,039	100,400
Amounts receivable after more than one year`29`	-	-	-	-	-	-	-	-	200,000	200,000	-	-	-	-	-	-	-
Other amounts receivable`291`	-	-	-	-	-	-	-	-	200,000	200,000	-	-	-	-	-	-	-
Amounts receivable within one year`40/41`	48,900	26,700	2,066	2,066	129,149	220,458	103,654	102,196	236,243	270,549	376,395	418,583	351,692	170,633	3,218	30,162	60,398
Trade receivables`40`	46,400	24,200	2,066	2,066	21,166	158,138	51,457	79,851	198,513	222,533	111,267	182,748	132,257	51,425	-	-	-
Other amounts receivable`41`	2,500	2,500	-	-	107,983	62,320	52,197	22,345	37,730	48,016	265,128	235,835	219,435	119,208	3,218	30,162	60,398
Current investments`50/53`	-	-	-	-	-	-	-	-	-	-	-	-	-	9,863	90,342	54,877	40,002
Cash at bank and in hand`54/58`	1.0m	1.0m	1.1m	1.1m	1.0m	1.0m	1.0m	1.0m	18,946	55,473	89,920	34,052	27,943	-	-	-	-
Deferred charges and accrued income`490/1`	-	-	-	-	-	-	-	-	-	-	-	80	-	-	-	-	-
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	8.6m	8.6m	8.6m	8.6m	4.9m	5.0m	4.9m	4.9m	455,214	526,047	478,127	478,837	420,294	235,651	162,077	85,281	101,010
Equity`10/15`	4.2m	4.0m	3.8m	3.6m	3.4m	435,351	392,792	339,033	271,772	220,478	220,478	220,478	182,771	134,558	91,076	11,982	9,971
Contributions`10/11`	3.0m	3.0m	3.0m	3.0m	3.0m	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	6,200	6,200
Capital`10`	-	3.0m	3.0m	3.0m	3.0m	-	-	-	-	-	-	-	-	-	-	-	-
Issued capital`100`	-	3.0m	3.0m	3.0m	3.0m	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600
Uncalled capital`101`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	12,400	12,400
Reserves`13`	-	-	-	-	-	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860
Non-distributable reserves`130/1`	-	-	-	-	-	1,860	-	-	-	-	-	-	-	-	-	-	-
Legal reserve`130`	-	-	-	-	-	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860
Profit (loss) carried forward`14`	1.2m	1.0m	811,034	565,074	415,267	414,891	372,332	318,573	251,312	200,018	200,018	200,018	162,311	114,098	70,616	3,922	1,911
Amounts payable`17/49`	4.3m	4.6m	4.7m	5.0m	1.5m	4.6m	4.5m	4.6m	183,442	305,569	257,649	258,359	237,523	101,093	71,001	73,299	91,039
Amounts payable after more than one year`17`	1.7m	1.9m	2.3m	2.6m	628,192	3.7m	3.9m	4.1m	100,000	100,000	100,000	100,000	114,700	32,340	49,980	-	-
Financial debts`170/4`	1.5m	-	-	-	628,192	623,748	803,842	982,257	-	-	-	-	14,700	32,340	49,980	-	-
Other amounts payable`178/9`	150,000	1.9m	2.3m	2.6m	-	3.1m	3.1m	3.1m	100,000	100,000	100,000	100,000	100,000	-	-	-	-
Amounts payable within one year`42/48`	2.7m	2.7m	2.5m	2.3m	847,752	856,254	613,823	508,279	83,442	205,569	157,649	158,359	122,823	68,753	21,021	73,299	91,039
Current portion of amounts payable after more than one year`42`	245,046	415,773	391,150	382,292	185,542	278,329	192,307	189,571	-	-	-	16,170	19,111	19,110	17,640	-	-
Financial debts`43`	807,866	892,669	800,000	800,000	-	-	-	-	-	-	-	-	-	-	-	-	-
Credit institutions`430/8`	807,866	892,669	800,000	800,000	-	-	-	-	-	-	-	-	-	-	-	-	-
Trade debts`44`	126,747	127,969	3,997	2,705	13,975	13,278	12,518	7,403	1,804	1,184	5,412	412	614	666	2,119	29	27
Suppliers`440/4`	126,747	127,969	3,997	2,705	13,975	13,278	12,518	7,403	1,804	1,184	5,412	412	614	666	2,119	29	27
Advances received on contracts in progress`46`	91,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Taxes, remuneration and social security`45`	175,229	91,912	185,231	89,112	33,847	63,555	36,646	48,425	44,871	103,348	53,229	93,736	54,962	4,285	1,173	7,101	1,699
Taxes`450/3`	145,328	91,912	181,645	85,538	29,803	28,330	33,562	44,312	44,005	103,348	53,151	91,490	52,908	4,283	1,173	7,101	1,699
Remuneration and social security`454/9`	29,901	-	3,586	3,574	4,044	35,225	3,084	4,113	866	-	78	2,246	2,054	2	-	-	-
Other amounts payable`47/48`	1.2m	1.1m	1.1m	1.1m	614,388	501,092	372,352	262,880	36,767	101,037	99,008	48,041	48,136	44,692	89	66,169	89,313
Accrued charges and deferred income`492/3`	-	-	-	6,736	830	1,029	-	-	-	-	-	-	-	-	-	-	-
Income statement
Turnover`70`	480,000	495,000	600,000	439,929	270,121	322,800	386,203	320,173	211,218	210,074	210,576	211,054	207,707	196,803	190,570	190,692	253,171
Gross operating margin`9900`	372,268	423,614	513,598	303,565	166,433	237,567	281,468	225,004	142,263	160,787	160,650	145,083	163,613	154,313	113,858	113,379	147,830
Goods, raw materials, services and sundry goods`60/61`	107,732	92,712	94,089	136,364	103,688	85,233	104,736	95,169	68,955	49,287	49,926	65,971	44,094	42,489	76,712	77,313	105,341
Remuneration, social security and pensions`62`	20,779	31,927	29,926	25,828	25,467	25,330	16,937	16,923	11,966	-	-	-	-	-	-	-	-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	-	-	2,178	2,178	10,052	10,482	10,183	9,892	0	11,787	14,310	14,496	14,496	14,418	2,445	368	735
Other operating charges`640/8`	127	8,700	10,417	9,720	9,383	3,991	12,190	17,672	11,957	8,994	9,690	10,526	10,747	11,273	6,929	3,880	3,271
Operating profit (loss)`9901`	351,362	382,987	471,077	265,839	121,531	197,764	242,158	180,517	118,340	140,006	136,650	120,061	138,370	128,622	104,484	109,131	143,824
Financial income`75/76B`	-	-	-	344	7,163	4,172	2,365	2,280	19,512	17,931	17,100	14,740	9,117	2,363	53	3,127	1,985
Recurring financial income`75`	-	-	-	344	7,163	4,172	2,365	2,280	19,512	17,931	17,100	14,740	9,117	2,363	53	3,127	1,985
Financial charges`65/66B`	99,089	104,228	132,808	58,518	124,935	152,616	148,616	82,523	7,382	6,572	6,398	6,937	2,186	1,776	482	265	975
Recurring financial charges`65`	99,089	104,228	132,808	58,518	124,935	152,616	148,616	82,523	7,382	6,572	6,398	6,937	2,186	1,776	482	265	975
Profit (loss) for the period before taxes`9903`	252,273	278,759	338,269	207,665	3,759	49,320	95,907	100,274	130,470	151,365	147,352	127,864	145,301	129,209	104,055	111,993	144,834
Income taxes`67/77`	68,083	79,043	92,309	57,858	3,384	6,761	42,148	33,013	43,176	50,767	48,404	42,157	49,088	41,087	37,361	43,952	51,783
Profit (loss) for the period`9904`	184,190	199,716	245,960	149,807	375	42,559	53,759	67,261	87,294	100,598	98,948	85,707	96,213	88,122	66,694	68,041	93,051
Profit (loss) for the period to be appropriated`9905`	184,190	199,716	245,960	149,807	375	42,559	53,759	67,261	87,294	100,598	98,948	85,707	96,213	88,122	66,694	68,041	93,051
Appropriation of the result
Profit (loss) to be appropriated`9906`	1.2m	1.0m	811,034	565,074	415,267	414,891	372,332	318,573	287,312	300,616	298,966	248,018	210,311	158,738	70,616	69,952	93,051
Profit (loss) brought forward from the previous period`14P`	1.0m	811,034	565,074	415,267	414,892	-	-	-	-	-	-	-	-	-	-	-	-
Transfer to equity`691/2`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,860
To the legal reserve`6920`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,860
Profit to be distributed`694/7`	-	-	-	-	-	-	-	-	36,000	100,598	98,948	48,000	48,000	44,640	-	66,030	89,280
Return on contributions (dividend)`694`	-	-	-	-	-	-	-	-	36,000	100,598	98,948	-	-	44,640	-	66,030	89,280
Directors or managers`695`	-	-	-	-	-	-	-	-	-	-	-	48,000	48,000	0	-	-	-
Social balance sheet
Average staff (FTE)`9087`	0.3	0.5	0.5	0.5	0.5	0.5	-	0.2	0.2	-	-	-	-	-	-	-	-
Hours worked`1013`	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-
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Financial year	Type	Filed	Reference	Document
31-12-2025	abbreviated format	28-09-2026	2026-00532015	PDF
31-12-2024	full format	25-09-2025	2025-00502842	PDF
31-12-2023	full format	13-08-2024	2024-00344215	PDF
31-12-2022	full format	05-09-2023	2023-00442415	PDF
31-12-2021	full format	30-08-2022	2022-20347230	PDF
31-12-2020	full format	29-08-2021	2021-64000144	PDF
31-12-2019	full format	25-09-2020	2020-56800279	PDF
31-12-2018	full format	20-06-2019	2019-20700262	PDF
31-12-2017	full format	22-06-2018	2018-22500395	PDF
31-12-2016	full format	26-06-2017	2017-22200255	PDF
31-12-2015	full format	21-06-2016	2016-21900370	PDF
31-12-2014	full format	09-06-2015	2015-16100210	PDF
31-12-2013	full format	12-06-2014	2014-17500196	PDF
31-12-2012	full format	07-06-2013	2013-17400125	PDF
31-12-2011	full format	15-06-2012	2012-19000143	PDF
31-12-2010	full format	07-06-2011	2011-15100477	PDF
31-12-2009	full format	23-06-2010	2010-22700051	PDF

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009
EBITDA	-	-	473,255	268,017	131,583	208,246	252,341	190,409	118,340	151,793	150,960	134,557	152,866	143,040	106,929	109,499	144,559
Cash flow	-	-	248,138	151,985	10,427	53,041	63,942	77,153	87,294	112,385	113,258	100,203	110,709	102,540	69,139	68,409	93,786
Investment in fixed assets (approximation)	-	-	-1	3.8m	10,892	0	1	3.8m	0	0	0	25	0	1,056	70,720	0	905
Change in cash	-47,292	-6,061	-13,548	51,998	-3,827	-397	-10,388	1.0m	-36,527	-34,447	55,868	6,109	-	-	-	-	-
Working capital	-1.6m	-1.6m	-1.4m	-1.3m	297,520	384,154	510,178	624,652	371,747	320,453	308,666	294,356	256,812	111,743	72,539	11,740	9,361
EBIT margin	73.2%	77.4%	78.5%	60.4%	45.0%	61.3%	62.7%	56.4%	56.0%	66.6%	64.9%	56.9%	66.6%	65.4%	54.8%	57.2%	56.8%
Solvency	49.3%	47.0%	44.7%	41.8%	69.9%	8.7%	8.0%	6.9%	59.7%	41.9%	46.1%	46.0%	43.5%	57.1%	56.2%	14.1%	9.9%
Current ratio	0.39	0.40	0.43	0.46	1.35	1.45	1.83	2.23	5.46	2.56	2.96	2.86	3.09	2.63	4.45	1.16	1.10
Debt to equity	1.03	1.13	1.24	1.39	0.43	10.52	11.50	13.54	0.67	1.39	1.17	1.17	1.30	0.75	0.78	6.12	9.13
ROE	4.4%	5.0%	6.4%	4.2%	0.0%	9.8%	13.7%	19.8%	32.1%	45.6%	44.9%	38.9%	52.6%	65.5%	73.2%	567.9%	933.2%
ROA	2.2%	2.3%	2.9%	1.7%	0.0%	0.8%	1.1%	1.4%	19.2%	19.1%	20.7%	17.9%	22.9%	37.4%	41.1%	79.8%	92.1%
Interest coverage	-	-	3.56	4.58	1.05	-	-	-	-	-	-	-	-	-	-	-	-
Customer credit	35 days	18 days	1 day	2 days	29 days	179 days	49 days	91 days	343 days	387 days	193 days	316 days	232 days	95 days	6 days	58 days	87 days
Supplier credit	429 days	504 days	16 days	7 days	49 days	57 days	44 days	28 days	10 days	9 days	40 days	2 days	5 days	6 days	10 days	0 days	0 days

Item	2025	2024	2023	2022	2021
Tangible fixed assets	-	-	-	-	€10,892
Financial fixed assets	-	-	-	€3.8m	€0
Depreciation and write-downs of the year	-	-	€2,178	€2,178	€10,052

MANATEE

Annual accounts 2025

Money flows

Balance sheet

Change in equityin €m

Change in cashin €m

Position in the sector

Solvency49.3%

Current ratio0.39

Return on assets2.2%

Staff

Staff cost per FTE€69,263

Filed annual accounts

Filings

Key figures and ratios

Investments

Insights on MANATEE

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