MANDRAKI
ActiveSummary
MANDRAKI has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €34,992 and a net result of €1,886. Equity remains stable across the filed fiscal years (±0.1% per year). Its solvency ranks better than 58% of 13560 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability42▲+33
Solvency65▲+5
Growth32=
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000 at 30 days acceptable
Liquidity tight (current ratio 1.45 against 1.33 in 2024; short-term debt: 60.2% and cash: 34.6% of total assets), and 60.2% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 56
Relative position
BE, all sectors
reference
Food and beverage service activities (NACE 56)
about 206% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
39.8%
Return on assets
2.1%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
118 d late
2023
61 d late
2022
28 d early
2021
117 d early
2020
29 d early
2019
23 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 2 days after the deadline; the sector median for financial year 2024 is 6 days after the deadline, and 52% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
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Financials · fiscal year 2025, micro schema
Equity
€34,992▲ 5.7%
2024 · €33,106
Total assets
€88,010▼ 8.1%
2024 · €95,729
Net result
€1,886
2024 · -€7,272
Working capital
€23,610▲ 14.3%
2024 · €20,663
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 56, Food and beverage service 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€27,858€71,769▲ 158%€19,320▼ 73.1%-€6,977€4,509
Net result€26,314within the sector's middle half€54,384above the sector's middle half▲ 107%€13,861within the sector's middle half▼ 74.5%-€7,272below the sector's middle half€1,886within the sector's middle half
Equity€16,133within the sector's middle half▼ 33.7%€26,517within the sector's middle half▲ 64.4%€40,378within the sector's middle half▲ 52.3%€33,106within the sector's middle half▼ 18.0%€34,992within the sector's middle half▲ 5.7%
Total assets€105,770within the sector's middle half▲ 48.4%€91,052within the sector's middle half▼ 13.9%€134,181within the sector's middle half▲ 47.4%€95,729within the sector's middle half▼ 28.7%€88,010within the sector's middle half▼ 8.1%
Debt€89,637▲ 90.9%€64,535▼ 28.0%€93,803▲ 45.4%€62,623▼ 33.2%€53,017▼ 15.3%
Working capital-€11,348▼ 41.8%€21,142€28,906▲ 36.7%€20,663▼ 28.5%€23,610▲ 14.3%
Solvency15.3%within the sector's middle half▼ 18.9pp29.1%within the sector's middle half▲ 13.9pp30.1%within the sector's middle half▲ 1.0pp34.6%within the sector's middle half▲ 4.5pp39.8%within the sector's middle half▲ 5.2pp
Staff (FTE)2.8▲ 7.7%3.3▲ 17.9%3▼ 9.1%3.7▲ 23.3%3.2▼ 13.5%
above
within
below
the middle half (P25 to P75) of NACE 56, Food and beverage service 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: €4,509 after a loss of €6,977 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €88,010
Fixed assets
€11,382 ▼ 8.5%
Current assets
€76,627 ▼ 8.0%
Equity and liabilities €88,010
Equity
€34,992 ▲ 5.7%
Debt
€53,017 ▼ 15.3%
Debt's share of the balance-sheet total falls from 65.4% to 60.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€6,594▲
2024 · -€4,911
Cash flow
€3,971▲
2024 · -€5,206
Current ratio
1.45▲
2024 · 1.33
Quick ratio
1.37▲
2024 · 1.22
Debt to equity
1.52▼
2024 · 1.89
ROE
5.4%▲
2024 · -22.0%
ROA
2.1%▲
2024 · -7.6%
Interest coverage
2.51▲
2024 · -7.87
Debt ≤ 1 year
€53,017▼
2024 · €62,623
Staff costs
€134,625▼
2024 · €148,947
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 16,986 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 higher bankruptcy probability: 1.2% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 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% | 1.6% |
| 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 74% 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 16,986 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €4,329 | - | - | - | - |
| Remuneration, social security and pensions62 | €63,609 | €130,875 | €123,456 | €148,947 | €134,625 | ▼ 9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €14,921 | €5,039 | €4,256 | €2,066 | €2,085 | ▲ 0.9% |
| Other operating charges640/8 | €1,991 | €2,656 | €2,358 | €2,444 | €3,153 | ▲ 29.0% |
| Gross operating margin9900 | €108,379 | €210,339 | €149,390 | €146,480 | €144,372 | ▼ 1.4% |
| Operating profit (loss)9901 | €27,858 | €71,769 | €19,320 | -€6,977 | €4,509 | ▲ 165% |
| Financial income75/76B | €52 | €1 | €1 | €329 | €1 | ▼ 99.8% |
| Recurring financial income75 | €52 | €1 | €1 | €329 | €1 | ▼ 99.8% |
| Financial charges65/66B | €1,177 | €441 | €1,116 | €624 | €2,624 | ▲ 321% |
| Recurring financial charges65 | €1,177 | €441 | €1,116 | €624 | €2,624 | ▲ 321% |
| Profit (loss) for the period before taxes9903 | €26,732 | €71,329 | €18,204 | -€7,272 | €1,886 | ▲ 126% |
| Income taxes67/77 | €418 | €16,945 | €4,343 | - | - | - |
| Profit (loss) for the period9904 | €26,314 | €54,384 | €13,861 | -€7,272 | €1,886 | ▲ 126% |
| Profit (loss) for the period to be appropriated9905 | €26,314 | €54,384 | €13,861 | -€7,272 | €1,886 | ▲ 126% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €105,770 | €91,052 | €134,181 | €95,729 | €88,010 | ▼ 8.1% |
| Fixed assets21/28 | €37,688 | €5,375 | €11,472 | €12,443 | €11,382 | ▼ 8.5% |
| Tangible fixed assets22/27 | €37,688 | €5,375 | €3,372 | €4,343 | €3,282 | ▼ 24.4% |
| Plant, machinery and equipment23 | €7,528 | €4,821 | €3,372 | €4,343 | €3,282 | ▼ 24.4% |
| Furniture and vehicles24 | €30,159 | €554 | - | - | - | - |
| Financial fixed assets28 | - | - | €8,100 | €8,100 | €8,100 | = |
| Current assets29/58 | €68,082 | €85,677 | €122,708 | €83,286 | €76,627 | ▼ 8.0% |
| Stocks and contracts in progress3 | €4,323 | €4,323 | €6,230 | €6,800 | €4,100 | ▼ 39.7% |
| Stocks30/36 | €4,323 | €4,323 | €6,230 | €6,800 | €4,100 | ▼ 39.7% |
| Amounts receivable within one year40/41 | €20,061 | €6,414 | €59,612 | €59,931 | €39,087 | ▼ 34.8% |
| Trade receivables40 | €10,370 | €567 | €7,049 | €7,734 | €1,631 | ▼ 78.9% |
| Other amounts receivable41 | €9,690 | €5,847 | €52,563 | €52,197 | €37,457 | ▼ 28.2% |
| Cash at bank and in hand54/58 | €43,468 | €74,791 | €56,866 | €16,415 | €30,437 | ▲ 85.4% |
| Deferred charges and accrued income490/1 | €231 | €149 | - | €141 | €3,003 | ▲ 2,033% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €105,770 | €91,052 | €134,181 | €95,729 | €88,010 | ▼ 8.1% |
| Equity10/15 | €16,133 | €26,517 | €40,378 | €33,106 | €34,992 | ▲ 5.7% |
| Contributions10/11 | €14,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €2,133 | €6,517 | €20,378 | €20,378 | €20,378 | = |
| Non-distributable reserves130/1 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Reserves not available under the articles1311 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Distributable reserves133 | €133 | €4,517 | €18,378 | €18,378 | €18,378 | = |
| Profit (loss) carried forward14 | - | - | - | -€7,272 | -€5,386 | ▲ 25.9% |
| Amounts payable17/49 | €89,637 | €64,535 | €93,803 | €62,623 | €53,017 | ▼ 15.3% |
| Amounts payable after more than one year17 | €10,206 | - | - | - | - | - |
| Financial debts170/4 | €10,206 | - | - | - | - | - |
| Amounts payable within one year42/48 | €79,430 | €64,535 | €93,803 | €62,623 | €53,017 | ▼ 15.3% |
| Current portion of amounts payable after more than one year42 | €8,917 | €1,758 | - | - | - | - |
| Trade debts44 | €15,535 | €15,554 | €45,840 | €40,372 | €30,918 | ▼ 23.4% |
| Suppliers440/4 | €15,535 | €15,554 | €45,840 | €40,372 | €30,918 | ▼ 23.4% |
| Taxes, remuneration and social security45 | €16,216 | €47,222 | €47,963 | €22,251 | €22,099 | ▼ 0.7% |
| Taxes450/3 | €13,291 | €38,995 | €40,023 | €13,019 | €14,142 | ▲ 8.6% |
| Remuneration and social security454/9 | €2,925 | €8,227 | €7,940 | €9,232 | €7,957 | ▼ 13.8% |
| Other amounts payable47/48 | €38,763 | - | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €26,314 | €54,384 | €13,861 | -€7,272 | €1,886 | ▲ 126% |
| + Depreciation and write-downs630 | €14,921 | €5,039 | €4,256 | €2,066 | €2,085 | ▲ 0.9% |
| Operating cash flow (approximation) | €41,235 | €59,423 | €18,116 | -€5,206 | €3,971 | ▲ 176% |
| Investment in fixed assets (approximation) | - | €27,274 | -€10,353 | -€3,036 | -€1,025 | ▲ 66.3% |
| Change in cash | - | €31,323 | -€17,925 | -€40,451 | €14,022 | ▲ 135% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
31-12
Financial
Back to profitnet €1,886
Net result €1,886 after one loss-making year.
26-11
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 118 days late
2024
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 61 days late
2023
03-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2018net €54,384 ▲107%
Operating result €71,769, net result €54,384, both a record.
05-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €26,314
Net result €26,314 after one loss-making year.
02-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Weakest financial yearnet -€16,059
Net result drops to -€16,059, the lowest in the series; recovery starts the following year.
08-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
05-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
03-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
05-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial 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.
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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, Antwerpen · 1 establishment unit since 2003
Ground area
72 m²
Building footprint
72 m²
Volume, LiDAR
1,171 m³
Parcel 11002A1212/00B000, Flanders · tallest building 20.4 m, ±6 floors. Linked by address, not a title deed.
1 establishment unit
MANDRAKI
since 20032.133.816.886
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11002A1212/00B000 | Flanders | 72 m² | 1 · 72 m² | 20.4 m · 6 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteAntwerpen2.133.816.886
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Of 20,505 companies in sector 56111 we hold annual accounts for 11,454. 9,608 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
Founded14-04-2003
Fiscal year end31-12
Activities, NACEBEL 2025
56111Full-service restaurants
E-invoicing
Reachable via Peppol
Peppol ID
0208:0480034390
Registered
02-10-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.