MANENCO
ActiveSummary
MANENCO has been active since 2000 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €200,354 and a net result of €5,882. Equity is shrinking by ~7.3% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.2% (very low).
Overview
What they do
Renting and operating of own or leased non-residential real estate, excluding land
NACE 68203NACE 51190
1 site
How big
€223,940total assets 2024
- Equity
- €200,354
- Profit
- €5,882
Turnover not published (abridged schema)
Who decides
Accounts 31 d early0 of 3 deeds read
Why 91+ Lower-failure-rate sector+ Long track recordLatest accounts filed on timeShow the evidence
Checked score
Score 2024
Axes · tick = 2023
Profitability72▲+8
Solvency100=
Growth32=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €18,000 at 30 days acceptable
Liquidity ample (current ratio 7.73 against 5.73 in 2023; short-term debt: 10.5% and cash: 79.9% of total assets), and 10.5% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer 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
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 30-06-2026, 31 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
31 d early
2024
37 d early
2023
37 d early
2022
32 d early
2021
33 d early
2020
40 d early
2019
on the day
← 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 30 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% 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. Usually files around 28 June (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
- Annual accounts filedfiscal year 2025 · micro…
- Annual accounts filedfiscal year 2024 · micro…
- Back to profitnet €5,882
Financials
Fiscal year 2024Total assets €223,940Profit €5,882Solvency 89.5%Liquidity 7.73
Total assets
€223,940▼ 24.4%
2018 - 2024
Net result
€5,882
2018 - 2024
Equity
€200,354▼ 22.5%
2018 - 2024
Solvency
89.5%▲ 2.2pp
2018 - 2024
Financials · fiscal year 2024, micro schema, 2025 accounts filed, figures not processed yet
Trend over the years
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€14,842▼ 86.0%-€51,107€52,068-€9,476€14,273
Net result€8,491within the sector's middle half▼ 88.1%-€53,095below the sector's middle half€40,543above the sector's middle half-€10,609below the sector's middle half€5,882within the sector's middle half
Equity€395,891above the sector's middle half▲ 2.2%€342,796above the sector's middle half▼ 13.4%€383,339above the sector's middle half▲ 11.8%€258,574within the sector's middle half▼ 32.5%€200,354within the sector's middle half▼ 22.5%
Total assets€413,948within the sector's middle half▼ 0.9%€362,357within the sector's middle half▼ 12.5%€415,394within the sector's middle half▲ 14.6%€296,252within the sector's middle half▼ 28.7%€223,940within the sector's middle half▼ 24.4%
Debt€18,058▼ 40.5%€19,561▲ 8.3%€32,054▲ 63.9%€37,677▲ 17.5%€23,586▼ 37.4%
Working capital€197,183above the sector's middle half▲ 26.4%€184,320above the sector's middle half▼ 6.5%€264,239above the sector's middle half▲ 43.4%€178,296above the sector's middle half▼ 32.5%€158,789above the sector's middle half▼ 10.9%
Solvency95.6%above the sector's middle half▲ 2.9pp94.6%above the sector's middle half▼ 1.0pp92.3%above the sector's middle half▼ 2.3pp87.3%above the sector's middle half▼ 5.0pp89.5%above the sector's middle half▲ 2.2pp
Current ratio11.92above the sector's middle half▲ 5.7810.42above the sector's middle half▼ 1.509.24above the sector's middle half▼ 1.185.73above the sector's middle half▼ 3.517.73above the sector's middle half▲ 2.00
Return on assets (ROA)2.1%within the sector's middle half▼ 15.0pp-14.7%below the sector's middle half▼ 16.7pp9.8%above the sector's middle half▲ 24.4pp-3.6%below the sector's middle half▼ 13.3pp2.6%within the sector's middle half▲ 6.2pp
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate 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 and balance sheet
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €14,273 after a loss of €9,476 in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €223,940
Fixed assets
€41,565 ▼ 48.2%
Current assets
€182,375 ▼ 15.6%
Equity and liabilities €223,940
Equity
€200,354 ▼ 22.5%
Debt
€23,586 ▼ 37.4%
Debt's share of the balance-sheet total falls from 12.7% to 10.5%. Equity and debt are lower.
Key figures and ratios
Key figures and ratios
EBITDA
€55,381▲
2023 · €31,512
Cash flow
€46,990▲
2023 · €30,379
Debt to equity
0.12▼
2023 · 0.15
ROE
2.9%▲
2023 · -4.1%
Interest coverage
16.11▼
2023 · 45.66
Debt ≤ 1 year
€23,586▼
2023 · €37,677
Income taxes
€4,953▲
2023 · €443
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 17,040 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 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,341 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% | 1.0% |
| 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% 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 17,040 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.
Filed annual accounts
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €4,576 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €41,849 | €42,102 | €41,837 | €40,987 | €41,107 | ▲ 0.3% |
| Other operating charges640/8 | - | €6,157 | €6,520 | €6,867 | €6,693 | ▼ 2.5% |
| Gross operating margin9900 | €63,335 | -€2,849 | €100,425 | €38,379 | €62,073 | ▲ 61.7% |
| Operating profit (loss)9901 | €14,842 | -€51,107 | €52,068 | -€9,476 | €14,273 | ▲ 251% |
| Financial income75/76B | - | €7 | €1 | - | - | - |
| Recurring financial income75 | €1 | €7 | €1 | - | - | - |
| Financial charges65/66B | - | €1,522 | €1,218 | €690 | €3,438 | ▲ 398% |
| Recurring financial charges65 | €1,774 | €1,522 | €1,218 | €690 | €3,438 | ▲ 398% |
| Profit (loss) for the period before taxes9903 | €13,068 | -€52,622 | €50,851 | -€10,166 | €10,835 | ▲ 207% |
| Income taxes67/77 | €4,578 | €473 | €10,307 | €443 | €4,953 | ▲ 1,018% |
| Profit (loss) for the period9904 | €8,491 | -€53,095 | €40,543 | -€10,609 | €5,882 | ▲ 155% |
| Profit (loss) for the period to be appropriated9905 | €8,491 | -€53,095 | €40,543 | -€10,609 | €5,882 | ▲ 155% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €413,948 | €362,357 | €415,394 | €296,252 | €223,940 | ▼ 24.4% |
| Fixed assets21/28 | €198,708 | €158,476 | €119,101 | €80,279 | €41,565 | ▼ 48.2% |
| Tangible fixed assets22/27 | €173,708 | €133,476 | €94,101 | €55,279 | €16,565 | ▼ 70.0% |
| Land and buildings22 | - | €118,021 | €78,697 | €39,373 | €206 | ▼ 99.5% |
| Plant, machinery and equipment23 | - | €13,913 | €13,177 | €12,932 | €12,687 | ▼ 1.9% |
| Furniture and vehicles24 | - | €1,541 | €2,227 | €2,974 | €3,672 | ▲ 23.5% |
| Financial fixed assets28 | €25,000 | €25,000 | €25,000 | €25,000 | €25,000 | = |
| Current assets29/58 | €215,240 | €203,881 | €296,293 | €215,973 | €182,375 | ▼ 15.6% |
| Amounts receivable within one year40/41 | €12,418 | €15,527 | €29,627 | €35,008 | €1,586 | ▼ 95.5% |
| Trade receivables40 | - | €15,527 | €29,627 | €34,976 | - | - |
| Other amounts receivable41 | - | - | - | €32 | €1,586 | ▲ 4,934% |
| Cash at bank and in hand54/58 | €201,201 | €186,706 | €265,277 | €179,178 | €178,972 | ▼ 0.1% |
| Deferred charges and accrued income490/1 | - | €1,648 | €1,389 | €1,787 | €1,817 | ▲ 1.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €413,948 | €362,357 | €415,394 | €296,252 | €223,940 | ▼ 24.4% |
| Equity10/15 | €395,891 | €342,796 | €383,339 | €258,574 | €200,354 | ▼ 22.5% |
| Contributions10/11 | - | €18,550 | €18,550 | €18,550 | €18,550 | = |
| Reserves13 | €377,341 | €324,246 | €364,789 | €240,024 | €181,804 | ▼ 24.3% |
| Non-distributable reserves130/1 | - | €1,855 | €1,855 | - | - | - |
| Reserves not available under the articles1311 | - | €1,855 | €1,855 | - | - | - |
| Distributable reserves133 | - | €322,391 | €362,934 | €240,024 | €181,804 | ▼ 24.3% |
| Amounts payable17/49 | €18,058 | €19,561 | €32,054 | €37,677 | €23,586 | ▼ 37.4% |
| Amounts payable within one year42/48 | €18,058 | €19,561 | €32,054 | €37,677 | €23,586 | ▼ 37.4% |
| Trade debts44 | €447 | €1,141 | €794 | €7,716 | €3,153 | ▼ 59.1% |
| Suppliers440/4 | - | €1,141 | €794 | €7,716 | €3,153 | ▼ 59.1% |
| Taxes, remuneration and social security45 | - | €2,945 | €14,779 | €13,759 | €4,953 | ▼ 64.0% |
| Taxes450/3 | - | €821 | €14,779 | €13,759 | €4,953 | ▼ 64.0% |
| Remuneration and social security454/9 | - | €2,124 | - | - | - | - |
| Other amounts payable47/48 | - | €15,475 | €16,481 | €16,203 | €15,480 | ▼ 4.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €8,491 | -€53,095 | €40,543 | -€10,609 | €5,882 | ▲ 155% |
| + Depreciation and write-downs630 | €41,849 | €42,102 | €41,837 | €40,987 | €41,107 | ▲ 0.3% |
| Operating cash flow (approximation) | €50,340 | -€10,993 | €82,381 | €30,379 | €46,990 | ▲ 54.7% |
| Investment in fixed assets (approximation) | - | -€1,869 | -€2,462 | -€2,165 | -€2,394 | ▼ 10.6% |
| Change in cash | - | -€14,495 | €78,571 | -€86,099 | -€207 | ▲ 99.8% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Comparable companies
Similar companies · same sector, comparable size
ULTIM OOST
BE 0707.854.035
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LE PAIN CHANTANT
BE 0872.725.331
Waremme · Eq €200,261
BERDIVAN
BE 0722.592.788
Sint-Martens-Latem · Eq €200,211
AZUPRO
BE 0432.681.267
Modave · Eq €200,199
ZAKENKANTOOR WIM MERSIE
BE 0459.950.244
Antwerpen · Eq €200,718
Of 12,040 companies in this sector we hold annual accounts for 6,007. 4,257 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Timeline
15 eventsLatest 30-06-2026Next filing 31-07-2027
History
Acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
30-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
24-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €5,882
Net result €5,882 after one loss-making year.
24-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €40,543
Net result €40,543 after one loss-making year.
28-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Weakest financial yearnet -€53,095
Net result drops to -€53,095, the lowest in the series; recovery starts the following year.
21-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Highest result since 2018net €71,169 ▲11%
Operating result €106,194, net result €71,169, both a record.
31-12
Financial
Liquidity times 5current ratio 6.14
Current ratio from 1.36 to 6.14; short-term debt falls from €108,934 to €30,333.
Show earlier events
01-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
08-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 8 days late
2017
27-06
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 3 acts read
About the unread acts
We know of 3 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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Company details
Private limited company · founded 13-07-2000Year ends 31-12Peppol reachable1 site
Register details
Identification
Legal formPrivate limited company
Founded13-07-2000
Fiscal year end31-12
Activities, NACEBEL 2025
46190Agents in non-specialised wholesale trade
68203Renting and operating of own or leased non-residential real estate, excluding land
70200Business and other management consultancy
77330Rental and leasing activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0472388119
Also
9925:BE0472388119
Registered
05-03-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Sites & property
Location & real-estate footprint
Registered office, Kapellen · 1 establishment unit since 2005
Ground area
3,010 m²
Building footprint
262 m²
Volume, LiDAR
238 m³
Parcel 11902H0075/00M000, Flanders · tallest building 7.1 m. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Graaf Henri Cornetlaan 1, 2950 Kapellen
since 2005unit no. 2.150.056.171
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11902H0075/00M000 | Flanders | 3,010 m² | 1 · 262 m² | 7.1 m |
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.
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
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