MANATHAN
ActiveSummary
MANATHAN has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €8.7m and a net result of €3.8m. Equity is growing by ~46.8% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability75▲+6
Solvency59▲+13
Growth78=
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €600,000 at 30 days acceptable
short-term debt: 0% and cash: 15.3% of total assets, and 66% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
34%
Return on assets
14.9%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 01-07-2025, 30 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
not confirmed
2024
30 d early
2023
27 d late
2022
100 d late
2021
31 d late
2020
31 d late
2019
31 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 6 accounts on average 32 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, abbreviated schema
Equity
€8.7m▲ 78.3%
2023 · €4.9m
Total assets
€25.6m▲ 12.4%
2023 · €22.8m
Net result
€3.8m▲ 33.2%
2023 · €2.9m
Working capital
€3.9m▲ 41.7%
2023 · €2.8m
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
Line20202021202220232024
Operating result-€3,000▼ 18.0%-€4,004▼ 33.5%-€4,453▼ 11.2%-€9,867▼ 122%-€5,405▲ 45.2%
Net result€276,545▲ 74.3%€221▼ 99.9%€456,813▲ 206,500%€2.9m▲ 528%€3.8m▲ 33.2%
Equity€1.6m▲ 21.7%€1.6m=€2.0m▲ 29.4%€4.9m▲ 143%€8.7m▲ 78.3%
Total assets€2.9m▲ 38.9%€7.3m▲ 152%€10.3m▲ 41.2%€22.8m▲ 120%€25.6m▲ 12.4%
Debt€1.4m▲ 65.8%€5.8m▲ 326%€8.3m▲ 44.4%€17.9m▲ 115%€16.9m▼ 5.6%
Working capital-€4,050▲ 28.9%€1.2m€965,868▼ 22.1%€2.8m▲ 186%€3.9m▲ 41.7%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €5,405 in 2024 against €9,867 in 2023; the loss shrinks.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €25.6m
Fixed assets
€21.7m ▲ 8.4%
Current assets
€3.9m ▲ 41.5%
Equity and liabilities €25.6m
Equity
€8.7m ▲ 78.3%
Debt
€16.9m ▼ 5.6%
Debt's share of the balance-sheet total falls from 78.6% to 66.0%. Equity is higher and debt is lower.
Key figures and ratios
Debt to equity
1.94▼
2023 · 3.67
ROE
43.9%▼
2023 · 58.8%
ROA
14.9%▲
2023 · 12.6%
Debt ≤ 1 year
€8,339▼
2023 · €8,902
Debt > 1 year
€16.9m▼
2023 · €17.9m
A ratio outside any meaningful range has been withheld (balance sheet total €25.6m, equity €8.7m).
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 |
|---|---|---|---|---|---|---|
| Other operating charges640/8 | - | €1,043 | €1,696 | €1,416 | €1,306 | ▼ 7.8% |
| Gross operating margin9900 | -€2,313 | -€2,961 | -€2,757 | -€8,451 | -€4,100 | ▲ 51.5% |
| Operating profit (loss)9901 | -€3,000 | -€4,004 | -€4,453 | -€9,867 | -€5,405 | ▲ 45.2% |
| Financial income75/76B | - | €5,427 | €476,110 | €2.9m | €3.8m | ▲ 32.9% |
| Recurring financial income75 | €279,559 | €5,427 | €476,110 | €2.9m | €3.8m | ▲ 32.9% |
| Financial charges65/66B | - | €1,202 | €14,845 | €218 | €403 | ▲ 84.7% |
| Recurring financial charges65 | €15 | €1,202 | €14,845 | €218 | €403 | ▲ 84.7% |
| Profit (loss) for the period before taxes9903 | €276,545 | €221 | €456,813 | €2.9m | €3.8m | ▲ 33.2% |
| Profit (loss) for the period9904 | €276,545 | €221 | €456,813 | €2.9m | €3.8m | ▲ 33.2% |
| Profit (loss) for the period to be appropriated9905 | €276,545 | €221 | €456,813 | €2.9m | €3.8m | ▲ 33.2% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.9m | €7.3m | €10.3m | €22.8m | €25.6m | ▲ 12.4% |
| Fixed assets21/28 | €2.9m | €6.1m | €9.4m | €20.0m | €21.7m | ▲ 8.4% |
| Financial fixed assets28 | €2.9m | €6.1m | €9.4m | €20.0m | €21.7m | ▲ 8.4% |
| Current assets29/58 | €2,177 | €1.2m | €972,502 | €2.8m | €3.9m | ▲ 41.5% |
| Amounts receivable within one year40/41 | - | - | - | €693,750 | €0 | ▼ 100% |
| Other amounts receivable41 | - | - | - | €693,750 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €2,177 | €1.2m | €972,502 | €2.1m | €3.9m | ▲ 88.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.9m | €7.3m | €10.3m | €22.8m | €25.6m | ▲ 12.4% |
| Equity10/15 | €1.6m | €1.6m | €2.0m | €4.9m | €8.7m | ▲ 78.3% |
| Contributions10/11 | - | €1.1m | €1.1m | €1.1m | €1.1m | = |
| Reserves13 | €428,050 | €428,271 | €885,083 | €3.8m | €7.6m | ▲ 102% |
| Non-distributable reserves130/1 | - | €7,575 | €7,575 | €0 | - | - |
| Reserves not available under the articles1311 | - | €7,575 | €7,575 | €0 | - | - |
| Distributable reserves133 | - | €420,695 | €877,508 | €3.8m | €7.6m | ▲ 102% |
| Amounts payable17/49 | €1.4m | €5.8m | €8.3m | €17.9m | €16.9m | ▼ 5.6% |
| Amounts payable after more than one year17 | €1.3m | €5.8m | €8.3m | €17.9m | €16.9m | ▼ 5.6% |
| Financial debts170/4 | - | €5.8m | €8.3m | €17.9m | €16.9m | ▼ 5.6% |
| Amounts payable within one year42/48 | €6,227 | €6,227 | €6,634 | €8,902 | €8,339 | ▼ 6.3% |
| Trade debts44 | €0 | - | €407 | €2,766 | €2,203 | ▼ 20.3% |
| Suppliers440/4 | - | - | €407 | €2,766 | €2,203 | ▼ 20.3% |
| Other amounts payable47/48 | - | €6,227 | €6,227 | €6,136 | €6,136 | = |
| Accrued charges and deferred income492/3 | - | €0 | - | €2,165 | €6,321 | ▲ 192% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €276,545 | €221 | €456,813 | €2.9m | €3.8m | ▲ 33.2% |
| Operating cash flow (approximation) | €276,545 | €221 | €456,813 | €2.9m | €3.8m | ▲ 33.2% |
| Investment in fixed assets (approximation) | - | -€3.2m | -€3.3m | -€10.6m | -€1.7m | ▲ 84.2% |
| Change in cash | - | €1.2m | -€274,246 | €1.1m | €1.8m | ▲ 67.0% |
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
2025
01-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Highest result since 2018net €3.8m ▲33.2%
Net result €3.8m, the highest in the series.
31-12
Financial
Equity above €5mEq €8.7m ▲78.3%
6 profitable years in a row build equity to €8.7m.
27-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 27 days late
2023
31-12
Financial
Liquidity doublescurrent ratio 311.16
Current ratio from 146.60 to 311.16.
08-11
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 100 days late
2022
31-12
Financial
Equity above €2mEq €2.0m ▲29.4%
4 profitable years in a row build equity to €2.0m.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
31-12
Financial
Liquidity times 573current ratio 200.21
Current ratio from 0.35 to 200.21.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 31 days late
2020
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 31 days late
2019
31-12
Financial
Back to profitnet €158,678
Net result €158,678 after one loss-making year.
31-12
Financial
Equity above €1mEq €1.3m ▲159%
Equity rises from €492,827 to €1.3m.
14-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Antwerpen · 1 establishment unit since 2017
Ground area
1,384 m²
Building footprint
253 m²
Volume, LiDAR
2,383 m³
Parcel 11812M0073/00G003, Flanders · tallest building 13.4 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Manathan
since 20172.269.109.419
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11812M0073/00G003 | Flanders | 1,384 m² | 1 · 253 m² | 13.4 m · 3 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.
Structure & network
Owners and holdings
6 holdingsOwners 0
The accounts to 31-12-2024 list no shareholders, and no other source names one.
Holdings 6
-
39.94%
-
26.25%
-
25%
-
25%
-
12.5%
-
11.49%
According to the 2024 annual accounts of MANATHAN 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
No current directors or connected companies found in the register.
Recognitions · licences · registrations
Legal Entity Identifier
648800AVGG4DEP648A35
Identification & contact
Identification
Legal formPrivate limited company
Founded16-10-2017
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID
0208:0682922956
Also
9925:BE0682922956
Registered
07-05-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.