MANDEW
ActiveSummary
MANDEW has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €15,486 and a net result of -€3,481. Equity is growing by ~63.3% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 1.3% (low).
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Signals
This company filed its last 7 accounts on average 16 days before 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 (2)
History
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Financials · fiscal year 2025, micro schema
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Peer companies
Historical observationOf the 1,037 companies that looked in July 2024 the way this one looks now, 2.9% went bankrupt within 24 months and 94% are still going.
- Micro
- 10 to 20 years old
- solvency under 10%
- a small loss
A further 1.0% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.3% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 1,037 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €15,241 | €13,901 | €13,901 | €13,901 | €13,901 | = |
| Other operating charges640/8 | - | €4,280 | €4,383 | €9,665 | €5,149 | ▼ 46.7% |
| Gross operating margin9900 | €35,672 | €27,587 | €32,470 | €38,485 | €21,578 | ▼ 43.9% |
| Operating profit (loss)9901 | €16,184 | €9,406 | €14,186 | €14,919 | €2,528 | ▼ 83.1% |
| Financial charges65/66B | - | €7,485 | €7,648 | €6,826 | €6,009 | ▼ 12.0% |
| Recurring financial charges65 | €8,279 | €7,485 | €7,648 | €6,826 | €6,009 | ▼ 12.0% |
| Profit (loss) for the period before taxes9903 | €7,905 | €1,921 | €6,538 | €8,093 | -€3,481 | ▼ 143% |
| Profit (loss) for the period9904 | €7,905 | €1,921 | €6,538 | €8,093 | -€3,481 | ▼ 143% |
| Profit (loss) for the period to be appropriated9905 | €7,905 | €1,921 | €6,538 | €8,093 | -€3,481 | ▼ 143% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €297,180 | €267,598 | €258,524 | €247,721 | €220,120 | ▼ 11.1% |
| Fixed assets21/28 | €285,811 | €259,429 | €245,528 | €231,626 | €217,725 | ▼ 6.0% |
| Tangible fixed assets22/27 | €273,330 | €259,429 | €245,528 | €231,626 | €217,725 | ▼ 6.0% |
| Land and buildings22 | - | €259,429 | €245,528 | €231,626 | €217,725 | ▼ 6.0% |
| Financial fixed assets28 | €12,481 | €0 | - | - | - | - |
| Current assets29/58 | €11,369 | €8,170 | €12,996 | €16,095 | €2,395 | ▼ 85.1% |
| Cash at bank and in hand54/58 | €11,369 | €8,170 | €12,996 | €16,095 | €2,395 | ▼ 85.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €297,180 | €267,598 | €258,524 | €247,721 | €220,120 | ▼ 11.1% |
| Equity10/15 | €2,416 | €4,336 | €10,874 | €18,967 | €15,486 | ▼ 18.4% |
| Contributions10/11 | - | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Non-distributable reserves130/1 | - | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Reserves not available under the articles1311 | - | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Profit (loss) carried forward14 | -€19,584 | -€17,664 | -€11,126 | -€3,033 | -€6,514 | ▼ 115% |
| Amounts payable17/49 | €294,765 | €263,262 | €247,649 | €228,754 | €204,633 | ▼ 10.5% |
| Amounts payable after more than one year17 | €247,993 | €221,380 | €195,815 | €170,251 | €144,686 | ▼ 15.0% |
| Financial debts170/4 | - | €221,380 | €195,815 | €170,251 | €144,686 | ▼ 15.0% |
| Amounts payable within one year42/48 | €46,772 | €41,882 | €51,834 | €58,504 | €59,947 | ▲ 2.5% |
| Current portion of amounts payable after more than one year42 | - | €26,613 | €25,565 | €25,565 | €25,565 | = |
| Trade debts44 | - | - | - | €4,870 | €6,313 | ▲ 29.6% |
| Suppliers440/4 | - | - | - | €4,870 | €6,313 | ▲ 29.6% |
| Other amounts payable47/48 | - | €15,269 | €26,269 | €28,069 | €28,069 | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €7,905 | €1,921 | €6,538 | €8,093 | -€3,481 | ▼ 143% |
| + Depreciation and write-downs630 | €15,241 | €13,901 | €13,901 | €13,901 | €13,901 | = |
| Operating cash flow (approximation) | €23,146 | €15,822 | €20,439 | €21,994 | €10,421 | ▼ 52.6% |
| Investment in fixed assets (approximation) | - | €12,481 | €0 | €0 | €0 | - |
| Change in cash | - | -€3,200 | €4,827 | €3,099 | -€13,701 | ▼ 542% |
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
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.
Directors · office · real estate
1 establishment unit
2 parcels
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34020A0452/00K000 | Flanders | 1,792 m² | 1 · 233 m² | 9.1 m · 2 fl. |
| 34009A0035/00X004 | Flanders | 1,350 m² | 1 · 153 m² | 10.8 m · 2 fl. |
Linked by address, not proof of ownership
Identification & contact
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If you follow this company, Checked tells you the day it appears in the Peppol register.
Register as of 28 September 2026 · Peppol Directory
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