MANDOLINE
ActiveSummary
MANDOLINE has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €475,651 and a net result of €16,073. Equity is growing by ~3.4% per year across the filed fiscal years. Its solvency ranks better than 89% of 26049 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability47▼-27
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €35,000 at 30 days acceptable
Liquidity ample (current ratio 5.66 against 5.75 in 2023; short-term debt: 17.6% and cash: 42.4% of total assets), and 18.3% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 27-06-2025, 34 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
34 d early
2023
27 d early
2022
24 d early
2021
23 d early
2020
24 d early
2019
9 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 21 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€16,073▼ 33.2%
2023 · €24,067
Working capital
€476,756▲ 3.5%
2023 · €460,501
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, 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
Line20202021202220232024
Operating result-€6,047€21,875€42,410▲ 93.9%€29,181▼ 31.2%€16,128▼ 44.7%
Net result-€12,720below the sector's middle half€7,846within the sector's middle half€33,153above the sector's middle half▲ 323%€24,067above the sector's middle half▼ 27.4%€16,073within the sector's middle half▼ 33.2%
Equity€397,183within the sector's middle half▼ 3.1%€405,028within the sector's middle half▲ 2.0%€437,324above the sector's middle half▲ 8.0%€460,499above the sector's middle half▲ 5.3%€475,651above the sector's middle half▲ 3.3%
Total assets€482,864within the sector's middle half▼ 1.4%€509,553within the sector's middle half▲ 5.5%€549,731above the sector's middle half▲ 7.9%€559,864above the sector's middle half▲ 1.8%€581,950above the sector's middle half▲ 3.9%
Debt€85,682▲ 7.7%€104,525▲ 22.0%€112,407▲ 7.5%€99,365▼ 11.6%€106,299▲ 7.0%
Working capital€370,722within the sector's middle half▼ 9.4%€387,493within the sector's middle half▲ 4.5%€428,638above the sector's middle half▲ 10.6%€460,501above the sector's middle half▲ 7.4%€476,756above the sector's middle half▲ 3.5%
Solvency82.3%above the sector's middle half▼ 1.5pp79.5%above the sector's middle half▼ 2.8pp79.6%above the sector's middle half▲ 0.1pp82.3%above the sector's middle half▲ 2.7pp81.7%above the sector's middle half▼ 0.5pp
Current ratio5.33above the sector's middle half▼ 0.854.75above the sector's middle half▼ 0.584.86above the sector's middle half▲ 0.115.75above the sector's middle half▲ 0.895.66above the sector's middle half▼ 0.09
Return on assets (ROA)-2.6%below the sector's middle half▼ 6.5pp1.5%within the sector's middle half▲ 4.2pp6.0%within the sector's middle half▲ 4.5pp4.3%within the sector's middle half▼ 1.7pp2.8%within the sector's middle half▼ 1.5pp
Staff (FTE)3.4within the sector's middle half=3.1within the sector's middle half▼ 8.8%4▲ 29.0%4=4=
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2024 is 45% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €581,950
Fixed assets
€2,968 ▲ 24.2%
Current assets
€578,983 ▲ 3.9%
Equity and liabilities €581,950
Equity
€475,651 ▲ 3.3%
Debt
€106,299 ▲ 7.0%
Debt's share of the balance-sheet total rises from 17.7% to 18.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€16,611▼
2023 · €38,103
Cash flow
€16,556▼
2023 · €32,989
Quick ratio
4.44▼
2023 · 4.48
Debt to equity
0.22▲
2023 · 0.22
ROE
3.4%▼
2023 · 5.2%
Interest coverage
3.02▼
2023 · 9.63
Debt ≤ 1 year
€102,227▲
2023 · €96,973
Income taxes
€8,235▼
2023 · €11,687
Staff costs
€110,851▼
2023 · €111,876
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 17,027 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 94% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.5%
went bankrupt
4.9%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% 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 17,027 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.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €97,203 | €94,823 | €111,876 | €110,851 | ▼ 0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,373 | €8,616 | €8,665 | €8,922 | €483 | ▼ 94.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €4,151 | €2,529 | €1,450 | €2,283 | ▲ 57.4% |
| Other operating charges640/8 | - | €1,659 | €1,650 | €1,799 | €1,811 | ▲ 0.6% |
| Gross operating margin9900 | €98,766 | €133,504 | €150,077 | €153,228 | €131,555 | ▼ 14.1% |
| Operating profit (loss)9901 | -€6,047 | €21,875 | €42,410 | €29,181 | €16,128 | ▼ 44.7% |
| Financial income75/76B | - | €8,524 | €9,476 | €10,531 | €13,672 | ▲ 29.8% |
| Recurring financial income75 | €431 | €8,524 | €9,476 | €10,531 | €13,672 | ▲ 29.8% |
| Financial charges65/66B | - | €3,416 | €3,678 | €3,957 | €5,492 | ▲ 38.8% |
| Recurring financial charges65 | €1,451 | €3,416 | €3,678 | €3,957 | €5,492 | ▲ 38.8% |
| Profit (loss) for the period before taxes9903 | -€7,210 | €26,983 | €48,208 | €35,754 | €24,307 | ▼ 32.0% |
| Income taxes67/77 | €5,510 | €19,137 | €15,055 | €11,687 | €8,235 | ▼ 29.5% |
| Profit (loss) for the period9904 | -€12,720 | €7,846 | €33,153 | €24,067 | €16,073 | ▼ 33.2% |
| Transfer from tax-exempt reserves789 | - | €52,859 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | -€12,720 | €60,704 | €33,153 | €24,067 | €16,073 | ▼ 33.2% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €482,864 | €509,553 | €549,731 | €559,864 | €581,950 | ▲ 3.9% |
| Fixed assets21/28 | €26,461 | €18,722 | €10,056 | €2,389 | €2,968 | ▲ 24.2% |
| Tangible fixed assets22/27 | €25,119 | €17,380 | €8,715 | €1,048 | €1,626 | ▲ 55.2% |
| Plant, machinery and equipment23 | - | - | - | €998 | €580 | ▼ 41.9% |
| Furniture and vehicles24 | - | €17,380 | €8,715 | €50 | €1,047 | ▲ 2,005% |
| Financial fixed assets28 | €1,341 | €1,341 | €1,341 | €1,341 | €1,341 | = |
| Current assets29/58 | €456,404 | €490,832 | €539,675 | €557,475 | €578,983 | ▲ 3.9% |
| Stocks and contracts in progress3 | €140,861 | €107,756 | €106,399 | €122,629 | €124,588 | ▲ 1.6% |
| Stocks30/36 | - | €107,756 | €106,399 | €122,629 | €124,588 | ▲ 1.6% |
| Amounts receivable within one year40/41 | €244 | €4,268 | €616 | €94 | €141 | ▲ 49.7% |
| Trade receivables40 | - | €4,268 | €616 | €94 | €141 | ▲ 49.7% |
| Current investments50/53 | €8,435 | €4,222 | €4,226 | €204,243 | €204,268 | = |
| Cash at bank and in hand54/58 | €305,465 | €372,426 | €426,273 | €226,610 | €246,773 | ▲ 8.9% |
| Deferred charges and accrued income490/1 | - | €2,160 | €2,162 | €3,898 | €3,213 | ▼ 17.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €482,864 | €509,553 | €549,731 | €559,864 | €581,950 | ▲ 3.9% |
| Equity10/15 | €397,183 | €405,028 | €437,324 | €460,499 | €475,651 | ▲ 3.3% |
| Contributions10/11 | - | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €54,718 | €62,564 | €94,860 | €118,034 | €134,107 | ▲ 13.6% |
| Non-distributable reserves130/1 | - | €1,859 | €1,859 | - | - | - |
| Reserves not available under the articles1311 | - | €1,859 | €1,859 | - | - | - |
| Distributable reserves133 | - | €60,704 | €93,000 | €118,034 | €134,107 | ▲ 13.6% |
| Profit (loss) carried forward14 | €323,873 | €323,873 | €323,873 | €323,873 | €322,952 | ▼ 0.3% |
| Amounts payable17/49 | €85,682 | €104,525 | €112,407 | €99,365 | €106,299 | ▲ 7.0% |
| Amounts payable within one year42/48 | €85,682 | €103,339 | €111,037 | €96,973 | €102,227 | ▲ 5.4% |
| Trade debts44 | €18,563 | €25,142 | €11,471 | €14,776 | €7,813 | ▼ 47.1% |
| Suppliers440/4 | - | €25,142 | €11,471 | €14,776 | €7,813 | ▼ 47.1% |
| Taxes, remuneration and social security45 | - | €48,465 | €61,090 | €34,943 | €37,568 | ▲ 7.5% |
| Taxes450/3 | - | €30,754 | €43,303 | €15,518 | €14,741 | ▼ 5.0% |
| Remuneration and social security454/9 | - | €17,711 | €17,787 | €19,425 | €22,827 | ▲ 17.5% |
| Other amounts payable47/48 | - | €29,732 | €38,477 | €47,254 | €56,846 | ▲ 20.3% |
| Accrued charges and deferred income492/3 | - | €1,186 | €1,371 | €2,392 | €4,073 | ▲ 70.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€12,720 | €7,846 | €33,153 | €24,067 | €16,073 | ▼ 33.2% |
| + Depreciation and write-downs630 | €8,373 | €8,616 | €8,665 | €8,922 | €483 | ▼ 94.6% |
| Operating cash flow (approximation) | -€4,347 | €16,461 | €41,819 | €32,989 | €16,556 | ▼ 49.8% |
| Investment in fixed assets (approximation) | - | -€877 | €0 | -€1,255 | -€1,062 | ▲ 15.4% |
| Change in cash | - | €66,961 | €53,847 | -€199,662 | €20,162 | ▲ 110% |
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
27-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
07-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2018net €33,153 ▲323%
Operating result €42,410, net result €33,153, both a record.
08-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Back to profitnet €7,846
Net result €7,846 after one loss-making year.
07-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Weakest financial yearnet -€12,720
Net result drops to -€12,720, the lowest in the series; recovery starts the following year.
09-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 9 days late
2019
12-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 12 days late
2018
21-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 21 days late
2017
11-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 11 days late
2016
28-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 28 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Visé · 2 establishment units since 1988
Ground area
344 m²
Building footprint
185 m²
Volume, LiDAR
486 m³
2 parcels, Wallonia · tallest building 12.5 m, ±4 floors. Linked by address, not a title deed.
2 establishment units
DIMENSION
since 19882.039.922.965
DIMENSION
since 20062.151.955.589
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 61031C0032/00G000 | Wallonia | 257 m² | 1 · 138 m² | - |
| 62108C0196/00E000 | Wallonia | 87 m² | 1 · 47 m² | 12.5 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 1,271 companies in sector 47512 we hold annual accounts for 581. 407 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
Founded10-08-1988
Fiscal year end31-12
Activities, NACEBEL 2025
47512Retail sale of household textiles and bedding
47716Retail sale of clothing and accessories for women, men, children and babies (general range)
E-invoicing
Reachable via Peppol
Peppol ID
0208:0435027380
Also
9925:BE0435027380
Registered
25-11-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.