Manax
Open bankruptcyA bankruptcy procedure is open for Manax according to publications in the Belgian State Gazette; curator: EMMELINE MARREYT.
Summary
The 2025 annual accounts show negative equity (€-5k) and a net result of €8k.
Are you a creditor?
Open bankruptcy
Source: Belgian Official Gazette
If this company owes you money, you are not paid automatically: you file your claim yourself, within the deadline the judgment sets.
The procedure
- Court
- Enterprise Court of Ghent, Ostend division
- Declared bankrupt
- 18 June 2026
- Supervising judge
- Frederik Corneillie
- Official Gazette
- 26-06-2026 (pdf) ↗search the document for 2026/128488
Curator
- Emmeline MarreytPrinsenlaan 2, 8400 Oostendeem@arionadvocaten.be
What to do now
- Do not deliver on credit any more without an agreement with the curator.
- Gather your documents: invoices, purchase orders, contract, delivery notes and reminders.
- File your proof of claim in RegSol (regsol.be), yourself with eID or itsme, or through your lawyer. State principal, interest and costs separately, and any preferential right you hold.
- Delivered under retention of title? Reclaim your goods before the first report on the verification of claims.
- Ask your accountant about the VAT on the unpaid invoices: in a bankruptcy it can be recovered under conditions.
- Follow the file in RegSol: the verification report (admitted or disputed) and the curator's reports appear there.
Deadlines: the judgment sets the last day to file your claim, by law at most thirty days after the judgment, and the day of the first verification report. Both dates are in the publication in the Official Gazette and in RegSol; Checked does not read them yet. A late claim is sometimes still possible, but not without consequences.
File a claim in RegSol ↗
Watch
Follow this bankruptcy: you are alerted when it is closed or reversed.
General information, not legal advice. If in doubt, the curator, your lawyer or your accountant can help. Full guide for creditors
Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 27965 sector peers (2025).
NBB · sector comparisonPosition among 27965 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 30-04-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
6 d early
2023
28 d early
2022
30 d late
2021
2 d early
2020
2 d early
2019
66 d early
← before the deadline
after the deadline →
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
25-09-2026 today30-09-2026 close30-04-2027 deadline
History
Financials · fiscal year 2025, micro schema
Equity
€-5k▲ 59.4%
2024 · €-13k
Total assets
€5k▼ 61.9%
2024 · €12k
Net result
€8k
2024 · €-41k
Working capital
€-8k▲ 41.8%
2024 · €-14k
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
Line20212022202320242025
Operating result€-2k▲ 85.4%€10k€-24k€-41k▼ 67.3%€11k
Net result€-2k▲ 83.0%€3k€-24k€-41k▼ 69.0%€8k
Equity€50k▼ 4.5%€53k▲ 5.7%€28k▼ 46.4%€-13k€-5k▲ 59.4%
Total assets€71k▼ 5.2%€70k▼ 1.8%€44k▼ 37.3%€12k▼ 71.6%€5k▼ 61.9%
Debt€21k▼ 6.9%€17k▼ 19.8%€15k▼ 8.8%€25k▲ 66.1%€10k▼ 60.7%
Working capital€50k▼ 4.2%€53k▲ 5.7%€29k▼ 45.7%€-14k€-8k▲ 41.8%
Staff (FTE)
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €11k after a loss of €41k in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5k
Fixed assets
€3k ▲ 100%
Current assets
€2k ▼ 83.7%
Key figures and ratios
EBITDA
€12k▲
2024 · €-40k
Cash flow
€9k▲
2024 · €-41k
Interest coverage
52.46▲
2024 · -461.07
Debt ≤ 1 year
€10k▼
2024 · €25k
Income taxes
€3k▲
2024 · €719
Ratios withheld: a balance sheet total of €5k 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.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €11k | - | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €141 | - | - | €89 | €1k | ▲ 1,051% |
| Other operating charges640/8 | €456 | €574 | €675 | €43k | €160 | ▼ 99.6% |
| Non-recurring operating charges66A | - | - | - | €15 | €8k | ▲ 55,094% |
| Gross operating margin9900 | €-2k | €10k | €-24k | €2k | €20k | ▲ 771% |
| Operating profit (loss)9901 | €-2k | €10k | €-24k | €-41k | €11k | ▲ 128% |
| Financial income75/76B | - | - | - | €0 | €1 | ▲ 750% |
| Recurring financial income75 | - | - | - | €0 | €1 | ▲ 750% |
| Financial charges65/66B | €167 | €93 | €229 | €88 | €233 | ▲ 165% |
| Recurring financial charges65 | €167 | €93 | €229 | €88 | €233 | ▲ 165% |
| Profit (loss) for the period before taxes9903 | €-2k | €9k | €-24k | €-41k | €11k | ▲ 127% |
| Income taxes67/77 | €20 | €7k | - | €719 | €3k | ▲ 341% |
| Profit (loss) for the period9904 | €-2k | €3k | €-24k | €-41k | €8k | ▲ 119% |
| Transfer from tax-exempt reserves789 | - | €44k | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €-2k | €47k | €-24k | €-41k | €8k | ▲ 119% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €71k | €70k | €44k | €12k | €5k | ▼ 61.9% |
| Fixed assets21/28 | €108 | €108 | - | €1k | €3k | ▲ 100% |
| Tangible fixed assets22/27 | - | - | - | €1k | €3k | ▲ 100% |
| Plant, machinery and equipment23 | - | - | - | €497 | €572 | ▲ 15.0% |
| Furniture and vehicles24 | - | - | - | €966 | €2k | ▲ 144% |
| Financial fixed assets28 | €108 | €108 | - | - | - | - |
| Current assets29/58 | €71k | €69k | €44k | €11k | €2k | ▼ 83.7% |
| Stocks and contracts in progress3 | €26k | €26k | - | - | - | - |
| Stocks30/36 | €26k | €26k | - | - | - | - |
| Amounts receivable within one year40/41 | €45k | €44k | €44k | €8k | €1k | ▼ 86.7% |
| Trade receivables40 | €42k | €43k | €43k | €8k | €1k | ▼ 86.7% |
| Other amounts receivable41 | €3k | €680 | €626 | €1 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €135 | €45 | €24 | €2k | €696 | ▼ 62.9% |
| Deferred charges and accrued income490/1 | - | - | - | €910 | €0 | ▼ 100% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €71k | €70k | €44k | €12k | €5k | ▼ 61.9% |
| Equity10/15 | €50k | €53k | €28k | €-13k | €-5k | ▲ 59.4% |
| Contributions10/11 | €40k | €40k | €40k | €40k | €40k | = |
| Reserves13 | €63k | €19k | €19k | €19k | €19k | = |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €0 | - | - |
| Reserves not available under the articles1311 | €2k | €2k | €2k | €0 | - | - |
| Tax-exempt reserves132 | €44k | - | - | - | - | - |
| Distributable reserves133 | €17k | €17k | €17k | €19k | €19k | = |
| Profit (loss) carried forward14 | €-53k | €-6k | €-31k | €-72k | €-64k | ▲ 10.8% |
| Amounts payable17/49 | €21k | €17k | €15k | €25k | €10k | ▼ 60.7% |
| Amounts payable within one year42/48 | €21k | €16k | €15k | €25k | €10k | ▼ 60.1% |
| Financial debts43 | - | - | - | €1k | €0 | ▼ 100% |
| Credit institutions430/8 | - | - | - | €1k | €0 | ▼ 100% |
| Trade debts44 | €3k | €789 | €1k | €6k | €2k | ▼ 70.2% |
| Suppliers440/4 | €3k | €789 | €1k | €6k | €2k | ▼ 70.2% |
| Taxes, remuneration and social security45 | €295 | €104 | €525 | €6k | €3k | ▼ 40.8% |
| Taxes450/3 | €295 | €104 | €525 | €4k | €3k | ▼ 13.8% |
| Remuneration and social security454/9 | - | - | - | €2k | €0 | ▼ 100% |
| Other amounts payable47/48 | €18k | €16k | €13k | €12k | €5k | ▼ 60.3% |
| Accrued charges and deferred income492/3 | €348 | €348 | €500 | €384 | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-2k | €3k | €-24k | €-41k | €8k | ▲ 119% |
| + Depreciation and write-downs630 | €141 | - | - | €89 | €1k | ▲ 1,051% |
| Operating cash flow (approximation) | €-2k | €3k | €-24k | €-41k | €9k | ▲ 121% |
| Investment in fixed assets (approximation) | - | €0 | - | - | €-2k | - |
| Change in cash | - | €-90 | €-21 | €2k | €-1k | ▼ 164% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
More with these figures Sector benchmark What changed Value indication
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
26-06
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Oostende · event 18-06-2026
30-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Back to profitnet €8k
Net result €8k after 2 loss-making years.
24-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-09
Financial
Weakest financial yearnet €-41k
Net result drops to €-41k, the lowest in the series.
02-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
30-09
Financial
Back to profitnet €3k
Net result €3k after 4 loss-making years.
28-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
28-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
24-02
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
26-02
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
27-02
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
18-02
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
2 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, Oostende · 1 establishment unit since 2002
Ground area
280 m²
Building footprint
91 m²
Volume, LiDAR
502 m³
Parcel 35020B0199/00R015, Flanders · tallest building 9.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Manax
since 20022.114.647.609
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 35020B0199/00R015 | Flanders | 280 m² | 1 · 91 m² | 9.9 m · 2 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.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | EMMELINE MARREYT PRINSENLAAN 2,
8400 OOSTENDE |
18-06-2026 → present |
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Of 9,534 companies in sector 43222 we hold annual accounts for 5,664. 3,970 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
Founded08-11-2002
Fiscal year end30-09
Activities, NACEBEL 2025
43222Installation of electric heating, air conditioning, cooling and ventilation
43211General electrical installation work
82990Other business support services
Scores and ratios are computed by Checked and are not a credit decision.