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 (-€5,306) and a net result of €7,776.
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
Deadlines
- Provisional date payments stopped
- 18 June 2026A later judgment can change the date.art. XX.105 CEL
- Appeal or third-party opposition until
- passed on 11 July 2026Fifteen days after the publication in the Official Gazette.art. XX.108 CEL
- File the claim in RegSol until
- passed on 18 July 2026art. XX.104 and XX.155 CEL
- First verification report
- passed on 17 August 2026Goods that belong to you, such as those delivered under retention of title, are reclaimed before this day.art. XX.104 and XX.194 CEL
- Late claim until
- 18 June 2027Late, you share only in what has not been paid out yet, and the costs are yours.art. XX.165 CEL
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.
The deadlines above come from the publication of the judgment. Check them in RegSol before you file anything; a passed deadline no longer applies.
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.Creditor guide for this company
Embed in an article
Writing about this bankruptcy? Put the card of Manax in your article: name, enterprise number, its status in the KBO and the latest annual accounts, with a link to this dossier.
Preview
The preview appears here.
- Stays current: the status follows the register, the figures are those of the latest filed accounts. No Checked score or verdict.
- Light on your page: one small script and one data request, also answered from a cache; no cookies, no tracking.
- Where scripts do not run (a newsletter, a feed reader) a plain link remains.
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 28254 sector peers (2025).
NBB · sector comparisonPosition among 28254 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 →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 11 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
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
28-09-2026 today30-09-2026 close30-04-2027 deadline
History
Go further with this company
Who ran this company, and where was it based, on a date before the end?Company as of a date Is the registered address a letterbox address or a business centre?Addresses Are there other customers at risk in your own list?List enrichment How is the Installation of electric heating, air conditioning, cooling and ventilation sector doing?Sector figures
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
-€5,306▲ 59.4%
2024 · -€13,082
Total assets
€4,710▼ 61.9%
2024 · €12,376
Net result
€7,776
2024 · -€41,354
Working capital
-€8,238▲ 41.8%
2024 · -€14,160
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction 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
Line20212022202320242025
Operating result-€2,141▲ 85.4%€9,517-€24,243-€40,548▼ 67.3%€11,179
Net result-€2,328below the sector's middle half▲ 83.0%€2,836within the sector's middle half-€24,472below the sector's middle half-€41,354below the sector's middle half▼ 69.0%€7,776within the sector's middle half
Equity€49,907within the sector's middle half▼ 4.5%€52,744within the sector's middle half▲ 5.7%€28,272within the sector's middle half▼ 46.4%-€13,082below the sector's middle half-€5,306below the sector's middle half▲ 59.4%
Total assets€70,850within the sector's middle half▼ 5.2%€69,549within the sector's middle half▼ 1.8%€43,598below the sector's middle half▼ 37.3%€12,376below the sector's middle half▼ 71.6%€4,710below the sector's middle half▼ 61.9%
Debt€20,943▼ 6.9%€16,805▼ 19.8%€15,326▼ 8.8%€25,458▲ 66.1%€10,017▼ 60.7%
Working capital€50,147within the sector's middle half▼ 4.2%€52,984within the sector's middle half▲ 5.7%€28,772within the sector's middle half▼ 45.7%-€14,160below the sector's middle half-€8,238below the sector's middle half▲ 41.8%
Solvency70.4%above the sector's middle half▲ 0.5pp75.8%above the sector's middle half▲ 5.4pp64.8%within the sector's middle half▼ 11.0pp-105.7%below the sector's middle half▼ 170.6pp
Current ratio3.43above the sector's middle half▲ 0.074.22above the sector's middle half▲ 0.782.94within the sector's middle half▼ 1.280.44below the sector's middle half▼ 2.51
Return on assets (ROA)-3.3%below the sector's middle half▲ 15.0pp4.1%within the sector's middle half▲ 7.4pp-56.1%below the sector's middle half▼ 60.2pp-334.2%below the sector's middle half▼ 278.0pp
Staff (FTE)
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
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: €11,179 after a loss of €40,548 in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4,710
Fixed assets
€2,932 ▲ 100%
Current assets
€1,779 ▼ 83.7%
Key figures and ratios
EBITDA
€12,204▲
2024 · -€40,459
Cash flow
€8,800▲
2024 · -€41,265
Interest coverage
52.46▲
2024 · -461.07
Debt ≤ 1 year
€10,017▼
2024 · €25,073
Income taxes
€3,172▲
2024 · €719
Ratios withheld: a balance sheet total of €4,710 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 | - | €10,500 | - | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €141 | - | - | €89 | €1,025 | ▲ 1,051% |
| Other operating charges640/8 | €456 | €574 | €675 | €42,785 | €160 | ▼ 99.6% |
| Non-recurring operating charges66A | - | - | - | €15 | €8,014 | ▲ 55,094% |
| Gross operating margin9900 | -€1,544 | €10,091 | -€23,568 | €2,341 | €20,379 | ▲ 771% |
| Operating profit (loss)9901 | -€2,141 | €9,517 | -€24,243 | -€40,548 | €11,179 | ▲ 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 | -€2,308 | €9,424 | -€24,472 | -€40,635 | €10,948 | ▲ 127% |
| Income taxes67/77 | €20 | €6,588 | - | €719 | €3,172 | ▲ 341% |
| Profit (loss) for the period9904 | -€2,328 | €2,836 | -€24,472 | -€41,354 | €7,776 | ▲ 119% |
| Transfer from tax-exempt reserves789 | - | €43,814 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | -€2,328 | €46,650 | -€24,472 | -€41,354 | €7,776 | ▲ 119% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €70,850 | €69,549 | €43,598 | €12,376 | €4,710 | ▼ 61.9% |
| Fixed assets21/28 | €108 | €108 | - | €1,463 | €2,932 | ▲ 100% |
| Tangible fixed assets22/27 | - | - | - | €1,463 | €2,932 | ▲ 100% |
| Plant, machinery and equipment23 | - | - | - | €497 | €572 | ▲ 15.0% |
| Furniture and vehicles24 | - | - | - | €966 | €2,360 | ▲ 144% |
| Financial fixed assets28 | €108 | €108 | - | - | - | - |
| Current assets29/58 | €70,742 | €69,441 | €43,598 | €10,913 | €1,779 | ▼ 83.7% |
| Stocks and contracts in progress3 | €25,767 | €25,768 | - | - | - | - |
| Stocks30/36 | €25,767 | €25,768 | - | - | - | - |
| Amounts receivable within one year40/41 | €44,840 | €43,628 | €43,574 | €8,126 | €1,083 | ▼ 86.7% |
| Trade receivables40 | €42,340 | €42,948 | €42,948 | €8,125 | €1,083 | ▼ 86.7% |
| Other amounts receivable41 | €2,500 | €680 | €626 | €1 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €135 | €45 | €24 | €1,877 | €696 | ▼ 62.9% |
| Deferred charges and accrued income490/1 | - | - | - | €910 | €0 | ▼ 100% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €70,850 | €69,549 | €43,598 | €12,376 | €4,710 | ▼ 61.9% |
| Equity10/15 | €49,907 | €52,744 | €28,272 | -€13,082 | -€5,306 | ▲ 59.4% |
| Contributions10/11 | €39,500 | €39,500 | €39,500 | €39,500 | €39,500 | = |
| Reserves13 | €63,180 | €19,366 | €19,366 | €19,366 | €19,366 | = |
| Non-distributable reserves130/1 | €2,405 | €2,405 | €2,405 | €0 | - | - |
| Reserves not available under the articles1311 | €2,405 | €2,405 | €2,405 | €0 | - | - |
| Tax-exempt reserves132 | €43,814 | - | - | - | - | - |
| Distributable reserves133 | €16,961 | €16,961 | €16,961 | €19,366 | €19,366 | = |
| Profit (loss) carried forward14 | -€52,773 | -€6,122 | -€30,594 | -€71,948 | -€64,173 | ▲ 10.8% |
| Amounts payable17/49 | €20,943 | €16,805 | €15,326 | €25,458 | €10,017 | ▼ 60.7% |
| Amounts payable within one year42/48 | €20,595 | €16,457 | €14,826 | €25,073 | €10,017 | ▼ 60.1% |
| Financial debts43 | - | - | - | €1,324 | €0 | ▼ 100% |
| Credit institutions430/8 | - | - | - | €1,324 | €0 | ▼ 100% |
| Trade debts44 | €2,566 | €789 | €1,071 | €5,682 | €1,691 | ▼ 70.2% |
| Suppliers440/4 | €2,566 | €789 | €1,071 | €5,682 | €1,691 | ▼ 70.2% |
| Taxes, remuneration and social security45 | €295 | €104 | €525 | €5,882 | €3,482 | ▼ 40.8% |
| Taxes450/3 | €295 | €104 | €525 | €4,040 | €3,482 | ▼ 13.8% |
| Remuneration and social security454/9 | - | - | - | €1,841 | €0 | ▼ 100% |
| Other amounts payable47/48 | €17,734 | €15,564 | €13,230 | €12,186 | €4,843 | ▼ 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 | -€2,328 | €2,836 | -€24,472 | -€41,354 | €7,776 | ▲ 119% |
| + Depreciation and write-downs630 | €141 | - | - | €89 | €1,025 | ▲ 1,051% |
| Operating cash flow (approximation) | -€2,187 | €2,836 | -€24,472 | -€41,265 | €8,800 | ▲ 121% |
| Investment in fixed assets (approximation) | - | €0 | - | - | -€2,493 | - |
| Change in cash | - | -€90 | -€21 | €1,853 | -€1,181 | ▼ 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.
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 €7,776
Net result €7,776 after 2 loss-making years.
24-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-09
Financial
Weakest financial yearnet -€41,354
Net result drops to -€41,354, 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 €2,836
Net result €2,836 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 |
Similar companies · same sector, comparable size
RADIATOM
BE 0685.589.268
Flémalle · Eq €28,269
FRANK NOPPE
BE 0441.193.117
Kontich · Eq €28,254
JP Techniek
BE 0837.662.207
Bekkevoort · Eq €28,293
Perpète et Fils
BE 0425.529.892
Beauraing · Eq €28,249
Cuculo Marino Chauffage Sanitaire Heizung
BE 0799.712.639
Plombières · Eq €28,299
Of 9,536 companies in sector 43222 we hold annual accounts for 5,669. 3,976 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
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.