Mandrin
ActiveSummary
Mandrin has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €29,230 and a net result of €22,841. Its solvency ranks better than 25% of 1,859 sector peers (NACE 59, financial year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Overview
Activity
Motion picture, video and television programme production, sound recording and music publishing activities
NACE 59114
1 site
Size
€196,055total assets 2025
- Staff
- 4.2 FTE
- Equity
- €29,230
- Profit
- €22,841
Turnover not published (micro format)
Why 82raises riskFounded in 2024Equity €29,230 (14.9% of total assets)lowers riskSector: Motion picture, video and television programme production, sound recording and music publishing activities (NACE 59)Liquidity: current ratio 1.37, cash €42,842Show the evidence
Checked score
Score 2025
82
/ 100
Excellent
Probability in this band: under 0.55%
Financially better than 41% of its sector peers (NACE 59, micro)
Financial strength
Average
Solvency
40
equity 14.9% of total assets
Liquidity
41
short-term debt 68.2% · cash 21.9%
Profitability
83
return on assets 11.7%
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
10-2025: 1.0%
11-2025: 1.0%● unchanged vs 10-2025
12-2025: 1.1%▲ +0.1 percentage points vs 11-2025
01-2026: 1.1%● unchanged vs 12-2025
02-2026: 1.2%▲ +0.1 percentage points vs 01-2026
03-2026: 1.3%▲ +0.1 percentage points vs 02-2026
04-2026: 1.3%● unchanged vs 03-2026
05-2026: 1.5%▲ +0.2 percentage points vs 04-2026
06-2026: 1.5%● unchanged vs 05-2026highest value
07-2026: 1.4%▼ -0.1 percentage points vs 06-2026
08-2026: 0.4%▼ -1.0 percentage point vs 07-2026lowest value
09-2026: 0.4%● unchanged vs 08-2026
10-2026: 0.4%● unchanged vs 09-2026
Credit of up to €2,000 on 30-day terms is acceptable
Liquidity tight (current ratio 1.37, below the usual 1.5; short-term debt: 68.2% and cash: 21.9% of total assets), and 85.1% of the assets are financed with debt and provisions.
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 59, micro): better than 27% on solvency, 27% on liquidity and 68% on profitability.
The bankruptcy probability was computed on 27-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
Credit check for your own amount and term
Show the recommended maximum and see how the verdict changes with amount, term and advance.
Signals
Five signals.
lowers riskraises riskneutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 08-07-2026, 23 days ahead of the deadline.
NBB · 1 filingDeviation from the deadline
2025
23 days early
← before the deadline
after the deadline →
Searched, nothing found (1)
- Annual accounts filedfinancial year 2025 · micro…
- RestructuringDemerger · Incorporation · Auditor…
- RestructuringAppointment: J.-B.RONSE DE CRAENE &…
Financials · financial year 2025, micro format
Equity
€29,230
Total assets
€196,055
Net result
€22,841
Working capital
€50,043
Turnover and EBIT margin not published: the micro format does not require them.
Balance-sheet composition
Assets €196,055
Fixed assets
€12,307
Current assets
€183,748
Equity and liabilities €196,055
Equity
€29,230
Debt
€166,825
Debt finances 85.1% of the balance-sheet total.
Key figures and ratios
EBITDA
€52,202
Cash flow
€42,224
Current ratio
1.37
Debt to equity
5.71
ROE
78.1%
ROA
11.7%
Interest coverage
over 100
Debt ≤ 1 year
€133,705
Income taxes
€9,750
Staff costs
€276,404
Peer companies
Historical observationOf the 7,976 companies that looked in July 2024 the way this one looks now, 3.6% went bankrupt within 24 months and 94.3% are still going.
- Micro
- 2 to 5 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
3.6%
went bankrupt
1.8%
stopped otherwise
94.3%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.4% 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 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 7,976 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 | 2025 |
|---|---|
| Non-recurring operating income76A | €7,500 |
| Remuneration, social security and pensions62 | €276,404 |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €19,383 |
| Other operating charges640/8 | €1,087 |
| Gross operating margin9900 | €329,693 |
| Operating profit (loss)9901 | €32,819 |
| Financial income75/76B | €0 |
| Recurring financial income75 | €0 |
| Financial charges65/66B | €229 |
| Recurring financial charges65 | €229 |
| Profit (loss) for the period before taxes9903 | €32,591 |
| Income taxes67/77 | €9,750 |
| Profit (loss) for the period9904 | €22,841 |
| Profit (loss) for the period to be appropriated9905 | €22,841 |
| Line | 2025 | |
|---|---|---|
| Assets | ||
| Total assets20/58 | €196,055 | |
| Fixed assets21/28 | €12,307 | |
| Tangible fixed assets22/27 | €12,307 | |
| Plant, machinery and equipment23 | €11,395 | |
| Furniture and vehicles24 | €912 | |
| Current assets29/58 | €183,748 | |
| Amounts receivable within one year40/41 | €136,113 | |
| Trade receivables40 | €46,817 | |
| Other amounts receivable41 | €89,295 | |
| Cash at bank and in hand54/58 | €42,842 | |
| Deferred charges and accrued income490/1 | €4,793 | |
| Equity and liabilities | ||
| Total equity and liabilities10/49 | €196,055 | |
| Equity10/15 | €29,230 | |
| Contributions10/11 | €6,005 | |
| Reserves13 | €23,226 | |
| Tax-exempt reserves132 | €103 | |
| Distributable reserves133 | €23,123 | |
| Amounts payable17/49 | €166,825 | |
| Amounts payable within one year42/48 | €133,705 | |
| Trade debts44 | €44,967 | |
| Suppliers440/4 | €44,967 | |
| Taxes, remuneration and social security45 | €48,738 | |
| Taxes450/3 | €34,199 | |
| Remuneration and social security454/9 | €14,539 | |
| Other amounts payable47/48 | €40,000 | |
| Accrued charges and deferred income492/3 | €33,120 | |
| Line | 2025 |
|---|---|
| Profit (loss) for the period9904 | €22,841 |
| + Depreciation and write-downs630 | €19,383 |
| Operating cash flow (approximation) | €42,224 |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (1)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 08-07-2026 | 2026-00268292 |
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Of the 517 active companies whose main activity is motion picture, video and television programme production, sound recording and music publishing activities (NACE 59114), figures are known for 252. 164 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Directors
2 directors, no change since 2024
COPS Mikhael
CurrentDirector (not named in the articles) · since 30-09-2024
HAUBEN Harald
CurrentDirector (not named in the articles) · since 30-09-2024
Derived from published Gazette deeds. The KBO keeps the official list of office holders; we do not read it, so the two can differ.
See the directors and other office holders in the KBO →
Mandate history
2 people since 2024, 2 in office
- Board
| Name | Functions and periods |
|---|---|
| COPS Mikhael |
|
| HAUBEN Harald |
|
Owners and capital
Capital and shareholders
Shareholders according to the deeds
Stated in the act
act of 08-08-2025 ↗
- HAUBEN Harald 16 shares
- NEUVILLE Elke 16 shares
- HAUBEN Arnout 16 shares
- COPS Mikhael 16 shares
At incorporation
act of 30-09-2024 ↗
- HAUBEN Harald 250 shares (25%) · €1,500 in cash
- HAUBEN Arnout 250 shares (25%) · €1,500 in cash
- NEUVILLE Elke 250 shares (25%) · €1,500 in cash
- COPS Mikhael 250 shares (25%) · €1,500 in cash
The Belgian Official Gazette names shareholders only when an act mentions them; the share register itself is not published.
Capital over the years
- 30-09-2024 Incorporation · €6,000 · 1,000 shares
Group and network
Connections & network
2 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
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Acquisitions and mergers
1 transactionDemerger with:DE MANDARIJNEN
History
Acts, filings and financial milestones
2026
08-07
NBB filing
Annual accounts filed
financial year 2025 · micro format
2025
08-08
Gazette deed
RestructuringDemerger · Incorporation · Auditor report28 facts ▸
Gazette deed
Restructuring
Demerger · Incorporation · Auditor report28 facts ▸
- General meeting, 30-06-2025
- Demerger, “partiële splitsing door overneming, ondernemingsrechtbank te Leuven” (deed in Dutch)
- Other provision, “lezing en goedkeuring voorstel tot partiële splitsing, goedkeuring voorstel tot partiële splitsing” (deed in Dutch)
- Other provision, “ontvangst splitsingsvoorstel, desgevallend per elektronische post” (deed in Dutch)
- Other provision, “zetel van de Vennootschap, inzagerecht splitsingsstukken” (deed in Dutch)
- Other provision, “kennis inhoud stukken” (deed in Dutch)
- Other provision, 31-12-2023
- Incorporation, 25-09-2024
- Other provision, “geen tussentijdse cijfers vermogensstand, aandeelhouders en houders van andere stemrechtverlenende effecten in elke betrokken vennootschap” (deed in Dutch)
- Other provision, “verzaking splitsingsverslaggeving, artikel 12:65 juncto artikel 12:62 §1 in fine WVV” (deed in Dutch)
- Other provision, “geen mededeling belangrijke wijzigingen activa en passiva, tussen datum opstelling splitsingsvoorstel en datum laatste algemene vergadering” (deed in Dutch)
- Other provision, 27-06-2025
- +16 further facts in this act
26-05
Gazette deed
RestructuringAppointment: J.-B.RONSE DE CRAENE & CO (statutory auditor) · Demerger · Capital increase19 facts ▸
Gazette deed
Restructuring
Appointment: J.-B.RONSE DE CRAENE & CO (statutory auditor) · Demerger · Capital increase19 facts ▸
- Demerger, “partiële splitsing door overneming, vermogenstoestand per 2024-12-31 van Partieel Te Splitsen Vennootschap” (deed in Dutch)
- Other provision, “publicatie-identificatienummer”, 25067136 (deed in Dutch)
- Capital increase, €11.85
- Other provision, “aandelen op naam, wijze uitreiking aandelen” (deed in Dutch)
- Other provision, “winstdeelname uitgereikte aandelen”, 01-01-2025 (deed in Dutch)
- Accounting effect, 01-01-2025
- Other provision, “af te splitsen vermogen, boekhoudkundige toerekening verrichtingen en resultaten af te splitsen vermogen” (deed in Dutch)
- Other provision, 31-12-2024
- Other provision, “eerste jaarrekening Verkrijgende Vennootschap, recente oprichting” (deed in Dutch)
- Other provision, “bijzondere rechten en andere effecten, geen bijzondere rechten toegekend of maatregelen voorgesteld” (deed in Dutch)
- Other provision, “revisoraal controleverslag splitsing, geen revisoraal controleverslag en geen bijzondere vergoeding vastgelegd” (deed in Dutch)
- Auditor appointment, J.-B.RONSE DE CRAENE & CO
- +7 further facts in this act
2024
30-09
Gazette deed
IncorporationAppointments: HAUBEN Harald (director) and COPS Mikhael (director) · Founder · Registered office clause11 facts ▸
Gazette deed
Incorporation
Appointments: HAUBEN Harald (director) and COPS Mikhael (director) · Founder · Registered office clause11 facts ▸
- Incorporation, 25-09-2024
- Founder, HAUBEN Harald
- Founder, HAUBEN Arnout
- Founder, NEUVILLE Elke
- Founder, COPS Mikhael
- Registered office clause, “3000 Leuven, Vaartkom 41 bus 301” (deed in Dutch)
- Board rule, 2
- Director appointment, HAUBEN Harald (director (not named in the articles))
- Director appointment, COPS Mikhael (director (not named in the articles))
- Power of attorney, Carl Maere
- Founding capital, €6,000
Gazette deedNBB filing
3 of 3 deeds read
Register details
Identification
Legal formPrivate limited company
Founded26-09-2024
Financial year end31-12
Activities, NACEBEL 2025
59114Motion picture, video and television programme production, sound recording and music publishing activities
59112Motion picture, video and television programme production, sound recording and music publishing activities
59209Motion picture, video and television programme production, sound recording and music publishing activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:1014159843
Also
9925:BE1014159843
Registered
07-08-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
Location & real-estate footprint
Registered office, Leuven · 1 establishment unit since 2024
Ground area
505 m²
Building footprint
490 m²
Building volume
9,491 m³
Parcel 24062A0079/00H000, Flanders · tallest building 30.3 m. Linked by address, not a title deed.
10
companies at this address
See who is registered here
1 establishment unit
Mandrin
since 2024unit no. 2.366.798.218
1 parcel
Flanders
1
(100%)
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 24062A0079/00H000 | Flanders | 505 m² | 1 · 489 m² | 30.3 m · 6 |
How the parcels are linked
Good to know
The parcel matches the address exactly.
1 of these parcels carries protected heritage: expect extra rules on renovation or sale.
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “Alle verrichtingen uit te voeren die rechtstreeks of onrechtstreeks in verband staan met het bedenken,de…” (deed in Dutch)deed of 26-05-2025
13 activities (deed in Dutch)
- Alle verrichtingen uit te voeren die rechtstreeks of onrechtstreeks in verband staan met het bedenken,de creatie,ontwikkeling,realisatie,organisatie,uitvoering,productie,postproductie,distributie,publiek aanbieden,uitzenden,online aanbieden,import en export van klank-,film-,video-,audio,audiovisuele,radio- en televisieproducties,formats en spektakels,voor eigen rekening of voor rekening van derden,en daarin onder meer inbegrepen de conceptie,de ontwikkeling,de voorbereiding,de realisatie,de productie,de postproductie,het uitgeven,de promotie,de financiering,de distributie,de aankoop en verkoop of de tussenkomst,commercialisering,spin-off,en merchandising van audiovisuele werken inclusief hun afgeleiden,projecten,formats,rechten,opnames,zowel bestaande als niet bestaande,in om het even welk stadium,van elke aard,waaronder artistiek,creatief,op elke ondergrond,tekst of beeld,op textiel,mode,design;
- Alle verrichtingen uit te voeren die rechtstreeks of onrechtstreeks verband houden met de creatie,ontwikkeling,realisatie,productie,uitgeven,distributie,aankoop,promotie,import,export,verspreiding en in de handel brengen van literaire werken en ander materiaal daarin inbegrepen boeken,kranten,tijdschriften,wenskaarten,afbeeldingen,allerhande documentatie,reclameartikelen,landkaarten,periodieken,cd-roms,en andere informatica artikelen evenals alle andere publicaties,artikels en geleverde drukwerken,informatica- of analoge artikelen,met alle mogelijke ontwikkelingen en accessoires die deze onderneming met zich kan meebrengen,met name de verspreiding en uitgave via alle mogelijke multimedia middelen,waaronder internet;
- Alle verrichtingen uit te voeren die rechtsreeks of onrechtstreeks in verband staan met het aanbieden en verspreiden van audiovisuele en andere content via alle mogelijke kanalen en vormen inclusief het ontwikkelen van technische platformen om audiovisuele en andere content aan te bieden en te verspreiden en verder te exploiteren en te commercialiseren;
- Het organiseren en de promotie van opleidingen,trainingen,lezingen,evenementen,concerten,spektakels,reünies,conferenties,beurzen en salons,evenals alle mogelijke commerciële en administratieve activiteiten die verband houden met bovenvermelde activiteiten;
- Het ontwikkelen en verzorgen van radio- en TV spots met publicitair karakter;
- Het aankopen,stockeren,gebruiken,verhuren,verkopen,van theater-,televisie- en geluidsstudio's en kantoren,alsook van allerhande theater- en televisiemateriaal en benodigdheden zoals podia,opnameapparatuur,risers,verlichting,decorstukken,meubilair,kledij,camera's en geluidsmateriaal,montagecellen en apparatuur,productiewagens,enzovoort;
- De verkrijging,de verhuur,het beheer en/of de uitbating voor eigen rekening,voor rekening van een derde,door en met derden van koffieshops,snackrestaurants,tavernen,drankslijterijen,verbruikslokalen,cabarets,feestzalen,discotheken,hotels,restaurants,vestiaires,lokalen,en alle gelijkaardige instellingen evenals alle nevendiensten voor warme en koude maaltijden,en meer algemeen alle activiteiten die geen toegang tot het beroep vereisen;
- Het verlenen van diensten en adviezen als consultant,(interim) manager,redacteur,producer,regisseur,scenarist,camera of geluidswerk,monteur in audiovisuele,multimediale-,publicitaire,- marketing- en andere omgevingen voor commerciële of niet-commerciële organisaties van welke aard dan ook;
- De vennootschap zal in dit kader producten,patenten,octrooien,knowhow,formats en auteursrechten kunnen ontwikkelen,aan- en verkopen,produceren exploiteren of in licentie nemen.
- Zij zal alle verrichtingen kunnen uitvoeren die rechtstreeks of onrechtstreeks in verband staan met de merchandising van de producten die zij voortbrengt of verwerft.
- Zij zal zich eveneens kunnen richten op research activiteiten in deze sector en aanverwante sectoren.
- De vennootschap kan haar diensten leveren krachtens een contractuele overeenkomst of statutaire benoeming,of in de hoedanigheid van externe raadgever of orgaan van de cliënt.
- Daartoe kan de vennootschap samenwerken met,deelnemen in,of op gelijk welke wijze,rechtstreeks of onrechtstreeks,belangen nemen in andere ondernemingen.
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimiteddeed of 30-09-2024
- Name clauseThe name the company operates under according to its articles.
- Mandrindeed of 30-09-2024
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- One provision in the deeddeed of 30-09-2024
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- Each director alone
- Daily managementWho may handle the everyday running of the business without the full board.
- The board decides whether the delegates act alone or jointly
- Board ruleHow the board is made up, meets and takes decisions.
- 3 provisions in the deed
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- One provision in the deed
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- 4 provisions in the deed
- Profit allocationHow profit is distributed; a BV may only pay out after a balance-sheet and liquidity test.
- One provision in the deed
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Third Friday of June at 19:00
- Meeting ruleHow the company's meetings are run.
- 2 provisions in the deed
- Meeting accessWho may attend the meeting and what is needed to be admitted.
- One provision in the deed
- Voting ruleWhich majority the meeting decides by, for example a simple or a special majority.
- “Elke aandeelhouder kan aan ieder andere persoon, al dan niet aandeelhouder, door alle middelen van overdracht, een schriftelijke volmacht…” (deed in Dutch)3 more provisions on this in the deed
- Written decisionsDecisions without a meeting, when everyone involved agrees in writing.
- One provision in the deed
Oversight and winding up
- Auditor ruleHow a statutory auditor is appointed and what they check, if the company has one.
- “Een of meerdere, 3” (deed in Dutch)
- Dissolution ruleWhen and by whom the company can be dissolved.
- One provision in the deed
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- One provision in the deed