MANEX
ActiveSummary
MANEX has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €168,133 and a net result of €98,051. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 31% of 215 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability64▲+7
Solvency43▲+2
Growth22=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €11,000 at 30 days acceptable
Liquidity tight (current ratio 1.22 against 1.19 in 2023; short-term debt: 81.9% and cash: 52.4% of total assets), and 81.9% 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 · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 58
Relative position
BE, all sectors
reference
Publishing activities (NACE 58)
about 30% 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 31-12-2024 was due by 31-07-2025 and was filed on 15-07-2025, 16 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
16 d early
2023
27 d early
2022
14 d early
2021
2 d late
2020
4 d early
2019
2 d early
← 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 10 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 37% of the sector filed late.
Checked, nothing found (1)
History
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 Is the workforce growing, and do people stay?Employer check 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 Which other companies belong to the same group?TotalEnergies SE · 28 companies
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Financials · fiscal year 2024, full schema
In the rankings
#2 employer in Liège, Publishing and media sector
Turnover
€3.0m▲ 2.8%
2023 · €2.9m
EBIT margin
6.1%▲ 0.6pp
2023 · 5.5%
Net result
€98,051▲ 20.6%
2023 · €81,303
Working capital
€168,133=
2023 · €168,082
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 58, Publishing 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
Line20202021202220232024
Turnover€11.3m▼ 10.1%€11.1m▼ 1.7%€5.9m▼ 47.0%€2.9m▼ 51.1%€3.0m▲ 2.8%
Operating result€778,616▲ 205%€452,298▼ 41.9%€308,751▼ 31.7%€158,503▼ 48.7%€182,007▲ 14.8%
Net result€579,684above the sector's middle half▲ 299%€294,306above the sector's middle half▼ 49.2%€190,625above the sector's middle half▼ 35.2%€81,303within the sector's middle half▼ 57.3%€98,051within the sector's middle half▲ 20.6%
EBIT margin6.9%▲ 4.9pp4.1%▼ 2.8pp5.2%▲ 1.2pp5.5%▲ 0.3pp6.1%▲ 0.6pp
Equity€762,712within the sector's middle half▲ 30.8%€157,018within the sector's middle half▼ 79.4%€159,780within the sector's middle half▲ 1.8%€168,082within the sector's middle half▲ 5.2%€168,133within the sector's middle half=
Total assets€2.6mwithin the sector's middle half▲ 15.6%€2.2mwithin the sector's middle half▼ 15.9%€964,489within the sector's middle half▼ 56.5%€1.0mwithin the sector's middle half▲ 8.1%€926,972within the sector's middle half▼ 11.1%
Debt€1.9m▲ 10.4%€2.1m▲ 9.9%€804,710▼ 61.0%€874,793▲ 8.7%€758,839▼ 13.3%
Working capital€765,112above the sector's middle half▲ 29.5%€161,504within the sector's middle half▼ 78.9%€163,680within the sector's middle half▲ 1.3%€168,082within the sector's middle half▲ 2.7%€168,133within the sector's middle half=
Solvency28.9%within the sector's middle half▲ 3.4pp7.1%below the sector's middle half▼ 21.8pp16.6%below the sector's middle half▲ 9.5pp16.1%within the sector's middle half▼ 0.4pp18.1%within the sector's middle half▲ 2.0pp
Current ratio1.41within the sector's middle half▲ 0.061.08below the sector's middle half▼ 0.331.20within the sector's middle half▲ 0.131.19within the sector's middle half▼ 0.011.22within the sector's middle half▲ 0.03
Return on assets (ROA)22.0%above the sector's middle half▲ 15.6pp13.3%within the sector's middle half▼ 8.7pp19.8%above the sector's middle half▲ 6.5pp7.8%within the sector's middle half▼ 12.0pp10.6%within the sector's middle half▲ 2.8pp
Staff (FTE)38.5above the sector's middle half▲ 12.9%38.8above the sector's middle half▲ 0.8%35.5above the sector's middle half▼ 8.5%28.2above the sector's middle half▼ 20.6%28.3above the sector's middle half▲ 0.4%
above
within
below
the middle half (P25 to P75) of NACE 58, Publishing activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 15% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Equity and liabilities €926,972
Equity
€168,133 =
Debt
€758,839 ▼ 13.3%
Debt's share of the balance-sheet total falls from 83.9% to 81.9%. Debt is lower.
Key figures and ratios
Debt to equity
4.51▼
2023 · 5.20
ROE
58.3%▲
2023 · 48.4%
Debt ≤ 1 year
€758,839▼
2023 · €874,793
Income taxes
€62,492▲
2023 · €57,639
Staff costs
€2.7m▲
2023 · €2.6m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,605 companies that looked in July 2024 the way this one looks now, 1.0% went bankrupt within 24 months and 97% are still going.
- Small
- 10 to 20 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
1.0%
went bankrupt
2.0%
stopped otherwise
97%
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 0.3% 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 2,605 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 |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | €11.2m | €6.1m | €3.0m | €3.1m | ▲ 4.6% |
| Turnover70 | €11.3m | €11.1m | €5.9m | €2.9m | €3.0m | ▲ 2.8% |
| Other operating income74 | - | €126,912 | €211,395 | €107,318 | €162,489 | ▲ 51.4% |
| Operating charges60/66A | - | €10.8m | €5.8m | €2.8m | €2.9m | ▲ 4.0% |
| Services and other goods61 | - | €7.9m | €2.7m | €205,499 | €234,772 | ▲ 14.2% |
| Remuneration, social security and pensions62 | - | €2.9m | €3.1m | €2.6m | €2.7m | ▲ 3.2% |
| Other operating charges640/8 | - | €417 | - | €751 | €517 | ▼ 31.1% |
| Operating profit (loss)9901 | €778,616 | €452,298 | €308,751 | €158,503 | €182,007 | ▲ 14.8% |
| Financial income75/76B | - | - | €2,712 | €355 | €2,209 | ▲ 522% |
| Recurring financial income75 | €40 | - | €2,712 | €355 | €2,209 | ▲ 522% |
| Other financial income752/9 | - | - | €2,712 | €355 | €2,209 | ▲ 522% |
| Financial charges65/66B | - | €20,727 | €19,908 | €19,916 | €23,674 | ▲ 18.9% |
| Recurring financial charges65 | €12,701 | €20,727 | €19,908 | €19,916 | €23,674 | ▲ 18.9% |
| Debt charges650 | €12,124 | €13,555 | €14,497 | €18,718 | €21,768 | ▲ 16.3% |
| Other financial charges652/9 | - | €7,172 | €5,411 | €1,199 | €1,906 | ▲ 59.0% |
| Profit (loss) for the period before taxes9903 | €765,955 | €431,571 | €291,555 | €138,942 | €160,542 | ▲ 15.5% |
| Income taxes67/77 | €186,271 | €137,265 | €100,930 | €57,639 | €62,492 | ▲ 8.4% |
| Taxes670/3 | - | €137,265 | €100,930 | €57,639 | €62,492 | ▲ 8.4% |
| Profit (loss) for the period9904 | €579,684 | €294,306 | €190,625 | €81,303 | €98,051 | ▲ 20.6% |
| Profit (loss) for the period to be appropriated9905 | €579,684 | €294,306 | €190,625 | €81,303 | €98,051 | ▲ 20.6% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.6m | €2.2m | €964,489 | €1.0m | €926,972 | ▼ 11.1% |
| Current assets29/58 | €2.6m | €2.2m | €964,489 | €1.0m | €926,972 | ▼ 11.1% |
| Amounts receivable within one year40/41 | €1.1m | €1.6m | €739,699 | €420,326 | €440,827 | ▲ 4.9% |
| Trade receivables40 | - | €1.3m | €729,920 | €396,726 | €434,452 | ▲ 9.5% |
| Other amounts receivable41 | - | €239,027 | €9,780 | €23,600 | €6,375 | ▼ 73.0% |
| Cash at bank and in hand54/58 | €1.5m | €642,282 | €224,790 | €622,549 | €485,444 | ▼ 22.0% |
| Deferred charges and accrued income490/1 | - | - | - | - | €700 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.6m | €2.2m | €964,489 | €1.0m | €926,972 | ▼ 11.1% |
| Equity10/15 | €762,712 | €157,018 | €159,780 | €168,082 | €168,133 | = |
| Contributions10/11 | €130,847 | €130,847 | €130,847 | €130,847 | €130,847 | = |
| Capital10 | - | €130,847 | €130,847 | €130,847 | €130,847 | = |
| Issued capital100 | - | €130,847 | €130,847 | €130,847 | €130,847 | = |
| Reserves13 | €629,272 | €24,272 | €28,272 | €36,272 | €36,272 | = |
| Non-distributable reserves130/1 | - | €13,085 | €13,085 | €13,085 | €13,085 | = |
| Legal reserve130 | - | €13,085 | €13,085 | €13,085 | €13,085 | = |
| Tax-exempt reserves132 | - | €1,187 | €1,187 | €1,187 | €1,187 | = |
| Distributable reserves133 | - | €10,000 | €14,000 | €22,000 | €22,000 | = |
| Profit (loss) carried forward14 | €2,593 | €1,899 | €661 | €963 | €1,014 | ▲ 5.3% |
| Amounts payable17/49 | €1.9m | €2.1m | €804,710 | €874,793 | €758,839 | ▼ 13.3% |
| Amounts payable within one year42/48 | €1.9m | €2.1m | €800,810 | €874,793 | €758,839 | ▼ 13.3% |
| Trade debts44 | €998,239 | €1.1m | €96,337 | €93,126 | €57,402 | ▼ 38.4% |
| Suppliers440/4 | - | €1.1m | €96,337 | €93,126 | €57,402 | ▼ 38.4% |
| Taxes, remuneration and social security45 | - | €450,341 | €516,610 | €610,299 | €563,537 | ▼ 7.7% |
| Taxes450/3 | - | €136,895 | €103,636 | €60,103 | €80,105 | ▲ 33.3% |
| Remuneration and social security454/9 | - | €313,446 | €412,974 | €550,196 | €483,432 | ▼ 12.1% |
| Other amounts payable47/48 | - | €459,978 | €187,863 | €171,368 | €137,901 | ▼ 19.5% |
| Accrued charges and deferred income492/3 | - | €4,486 | €3,900 | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €579,684 | €294,306 | €190,625 | €81,303 | €98,051 | ▲ 20.6% |
| Operating cash flow (approximation) | €579,684 | €294,306 | €190,625 | €81,303 | €98,051 | ▲ 20.6% |
| Change in cash | - | -€846,427 | -€417,492 | €397,759 | -€137,105 | ▼ 134% |
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
2026
17-08
State Gazette act
Resignations & appointmentsApproval · Director discharge · Auditor discharge7 facts ▸
State Gazette act
Resignations & appointments
Approval · Director discharge · Auditor discharge7 facts ▸
- General meeting, 25-06-2026
- Board meeting, 23-06-2026
- Approval, comptes annuels, Troisième résolution
- Director discharge, Michel GRANDJEAN (director)
- Director discharge, José Ignacio SANZ SAIZ (director)
- Director discharge, Olivier GREINER (director)
- Auditor discharge, commissaire aux comptes, pleine et entière
2025
15-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Weakest financial yearnet €81,303 ▼57.3%
Net result drops to €81,303, the lowest in the series; recovery starts the following year.
17-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
02-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 2 days late
2021
27-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Highest result since 2018net €579,684 ▲299%
Operating result €778,616, net result €579,684, both a record.
29-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
05-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
05-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
11-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
01-07
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 14 acts read
About the unread acts
Of the 14 Belgian State Gazette acts we know for this company, 1 has been read. The other 13 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
14 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Liège · 1 establishment unit since 2008
Ground area
1.2 ha
Building footprint
1,247 m²
Volume, LiDAR
13,264 m³
Parcel 62815C0319/00M000, Wallonia · tallest building 22.1 m, ±3 floors. Linked by address, not a title deed.
13
companies at this address
See who is registered here
1 establishment unit
MANEX
since 20082.212.219.612
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62815C0319/00M000 ProtectedMonument |
Wallonia | 1.2 ha | 1 · 1,247 m² | 22.1 m · 3 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.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Structure & network
Part of the group
TotalEnergies SE
28 companies
Group, risk and exposure
Owners and holdings
1 ownerChain of control
- TotalEnergies HoldingsFR
- TotalEnergies Power & Gas Belgium
- MANEX
Highest known parent: TotalEnergies Holdings (France). The sources do not say who stands above it.
Owners 1
-
100%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Acquisitions and mergers
1 transactionReceived in a demerger part of:LAMPIRIS
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Of 1,290 companies in sector 58290 we hold annual accounts for 594. 472 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded13-03-2008
Fiscal year end31-12
Activities, NACEBEL 2025
58290Other software publishing
62200Computer consultancy and computer facilities management
58210Publishing activities
70200Business and other management consultancy
74999Other professional, scientific and technical activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0896428864
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.