MANEXTENSO
ActiveSummary
MANEXTENSO has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €605,207 and a net result of -€5,414. Equity is shrinking by ~3.6% per year across the filed fiscal years. Its solvency ranks better than 23% of 8737 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability36▲+12
Solvency46=
Growth32=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €35,000 at 30 days acceptable
Liquidity tight (current ratio 1.47 against 1.43 in 2024; short-term debt: 11.7% and cash: 0.3% of total assets), and 79% 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
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 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% 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
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€5,414
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 23% of 8737 sector peers (2025).
NBB · sector comparisonPosition among 8737 sector peers
Solvency
better than 23%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 30-04-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
on the day
2023
3 d early
2022
28 d early
2021
1 d late
2020
on the day
2019
30 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 9 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today30-09-2026 close30-04-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€605,207▼ 0.9%
2024 · €610,621
Total assets
€2.9m▼ 2.2%
2024 · €2.9m
Net result
-€5,414▲ 88.6%
2024 · -€47,439
Working capital
€157,352▼ 0.6%
2024 · €158,310
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy 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€23,439▼ 21.2%-€26,983-€13,864▲ 48.6%€9,902€6,597▼ 33.4%
Net result€8,681within the sector's middle half▼ 38.1%-€61,687below the sector's middle half-€64,607below the sector's middle half▼ 4.7%-€47,439below the sector's middle half▲ 26.6%-€5,414below the sector's middle half▲ 88.6%
Equity€784,354within the sector's middle half▲ 1.1%€722,667within the sector's middle half▼ 7.9%€658,060within the sector's middle half▼ 8.9%€610,621within the sector's middle half▼ 7.2%€605,207within the sector's middle half▼ 0.9%
Total assets€2.2mwithin the sector's middle half▲ 21.5%€2.9mabove the sector's middle half▲ 35.4%€3.0mabove the sector's middle half▲ 3.5%€2.9mwithin the sector's middle half▼ 2.9%€2.9mabove the sector's middle half▼ 2.2%
Debt€1.4m▲ 37.3%€2.2m▲ 60.1%€2.4m▲ 7.6%€2.3m▼ 1.7%€2.3m▼ 2.6%
Working capital-€344,974▼ 66.4%-€272,635▲ 21.0%€189,943€158,310▼ 16.7%€157,352▼ 0.6%
Solvency36.3%within the sector's middle half▼ 7.3pp24.7%below the sector's middle half▼ 11.6pp21.7%below the sector's middle half▼ 3.0pp20.7%below the sector's middle half▼ 1.0pp21.0%below the sector's middle half▲ 0.3pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 33% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.9m
Fixed assets
€2.4m ▼ 1.4%
Current assets
€495,076 ▼ 5.9%
Equity and liabilities €2.9m
Equity
€605,207 ▼ 0.9%
Debt
€2.3m ▼ 2.6%
Debt's share of the balance-sheet total falls from 79.3% to 79.0%. Equity and debt are lower.
Key figures and ratios
EBITDA
€45,998▼
2024 · €65,462
Cash flow
€33,987▲
2024 · €8,120
Current ratio
1.47▲
2024 · 1.43
Debt to equity
3.76▼
2024 · 3.82
ROE
-0.9%▲
2024 · -7.8%
ROA
-0.2%▲
2024 · -1.6%
Interest coverage
2.12▲
2024 · 0.93
Debt ≤ 1 year
€337,725▼
2024 · €368,039
Debt > 1 year
€1.8m▼
2024 · €1.9m
Income taxes
€2,907▲
2024 · €1,688
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,501 companies that looked in July 2024 the way this one looks now, 1.4% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 10 to 30%
- a small loss
1.4%
went bankrupt
1.7%
stopped otherwise
96%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.1% 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 2,501 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €43,117 | €86,965 | €58,128 | €55,560 | €39,401 | ▼ 29.1% |
| Other operating charges640/8 | €5,258 | €5,672 | €18,302 | €6,144 | €11,467 | ▲ 86.6% |
| Gross operating margin9900 | €71,815 | €65,653 | €62,566 | €71,606 | €57,465 | ▼ 19.7% |
| Operating profit (loss)9901 | €23,439 | -€26,983 | -€13,864 | €9,902 | €6,597 | ▼ 33.4% |
| Financial income75/76B | - | €69 | €12,223 | €14,658 | €12,592 | ▼ 14.1% |
| Recurring financial income75 | - | €69 | €12,223 | €14,658 | €12,592 | ▼ 14.1% |
| Non-recurring financial income76B | - | €69 | €12,223 | €14,658 | €12,592 | ▼ 14.1% |
| Financial charges65/66B | €10,009 | €32,469 | €61,674 | €70,311 | €21,696 | ▼ 69.1% |
| Recurring financial charges65 | €10,009 | €32,469 | €61,674 | €70,311 | €21,696 | ▼ 69.1% |
| Profit (loss) for the period before taxes9903 | €13,431 | -€59,383 | -€63,315 | -€45,751 | -€2,507 | ▲ 94.5% |
| Income taxes67/77 | €4,750 | €2,304 | €1,292 | €1,688 | €2,907 | ▲ 72.2% |
| Profit (loss) for the period9904 | €8,681 | -€61,687 | -€64,607 | -€47,439 | -€5,414 | ▲ 88.6% |
| Profit (loss) for the period to be appropriated9905 | €8,681 | -€61,687 | -€64,607 | -€47,439 | -€5,414 | ▲ 88.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.2m | €2.9m | €3.0m | €2.9m | €2.9m | ▼ 2.2% |
| Fixed assets21/28 | €1.9m | €2.6m | €2.4m | €2.4m | €2.4m | ▼ 1.4% |
| Tangible fixed assets22/27 | €1.8m | €2.2m | €1.9m | €1.8m | €1.8m | ▼ 1.9% |
| Land and buildings22 | €993,334 | €1.6m | €1.8m | €1.8m | €1.6m | ▼ 9.6% |
| Furniture and vehicles24 | €63,054 | €31,527 | €31,527 | €11,381 | €0 | ▼ 100% |
| Other tangible fixed assets26 | - | - | €10,695 | €8,273 | €5,851 | ▼ 29.3% |
| Assets under construction and advance payments27 | €771,145 | €609,306 | - | - | €151,172 | - |
| Financial fixed assets28 | €100,900 | €408,400 | €544,400 | €616,400 | €616,400 | = |
| Current assets29/58 | €233,589 | €287,775 | €612,370 | €526,349 | €495,076 | ▼ 5.9% |
| Amounts receivable after more than one year29 | - | - | - | €418,943 | €359,839 | ▼ 14.1% |
| Other amounts receivable291 | - | - | - | €418,943 | €359,839 | ▼ 14.1% |
| Stocks and contracts in progress3 | €101,853 | €186,025 | - | - | - | - |
| Contracts in progress37 | €101,853 | €186,025 | - | - | - | - |
| Amounts receivable within one year40/41 | €61,815 | €49,533 | €548,907 | €18,171 | €39,006 | ▲ 115% |
| Trade receivables40 | €960 | €25,292 | €7,863 | €900 | €10,159 | ▲ 1,029% |
| Other amounts receivable41 | €60,855 | €24,241 | €541,044 | €17,271 | €28,847 | ▲ 67.0% |
| Cash at bank and in hand54/58 | €27,322 | €7,201 | €10,106 | €8,779 | €7,736 | ▼ 11.9% |
| Deferred charges and accrued income490/1 | €42,599 | €45,015 | €53,357 | €80,457 | €88,496 | ▲ 10.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.2m | €2.9m | €3.0m | €2.9m | €2.9m | ▼ 2.2% |
| Equity10/15 | €784,354 | €722,667 | €658,060 | €610,621 | €605,207 | ▼ 0.9% |
| Contributions10/11 | €600,000 | €600,000 | €600,000 | €600,000 | €600,000 | = |
| Capital10 | €600,000 | €600,000 | €600,000 | €600,000 | €600,000 | = |
| Issued capital100 | €600,000 | €600,000 | €600,000 | €600,000 | €600,000 | = |
| Reserves13 | €181,835 | €181,835 | €181,835 | €181,835 | €181,835 | = |
| Non-distributable reserves130/1 | €18,900 | €18,900 | €18,900 | €18,900 | €18,900 | = |
| Legal reserve130 | €18,900 | €18,900 | €18,900 | €18,900 | €18,900 | = |
| Tax-exempt reserves132 | €13,935 | €13,935 | €13,935 | €13,935 | €13,935 | = |
| Distributable reserves133 | €149,000 | €149,000 | €149,000 | €149,000 | €149,000 | = |
| Profit (loss) carried forward14 | €2,519 | -€59,168 | -€123,775 | -€171,214 | -€176,628 | ▼ 3.2% |
| Amounts payable17/49 | €1.4m | €2.2m | €2.4m | €2.3m | €2.3m | ▼ 2.6% |
| Amounts payable after more than one year17 | €792,013 | €1.6m | €1.9m | €1.9m | €1.8m | ▼ 1.5% |
| Financial debts170/4 | €792,013 | €715,937 | €218,544 | €189,773 | €161,922 | ▼ 14.7% |
| Other amounts payable178/9 | - | €900,000 | €1.7m | €1.7m | €1.7m | = |
| Amounts payable within one year42/48 | €578,563 | €560,411 | €422,427 | €368,039 | €337,725 | ▼ 8.2% |
| Current portion of amounts payable after more than one year42 | €75,659 | €77,653 | €35,631 | €28,771 | €27,850 | ▼ 3.2% |
| Financial debts43 | €470,000 | €395,000 | €345,000 | €300,000 | €280,000 | ▼ 6.7% |
| Credit institutions430/8 | €300,000 | €200,000 | €300,000 | €295,000 | €278,500 | ▼ 5.6% |
| Other loans439 | €170,000 | €195,000 | €45,000 | €5,000 | €1,500 | ▼ 70.0% |
| Trade debts44 | €4,632 | €11,848 | €2,249 | €4,832 | €8,018 | ▲ 65.9% |
| Suppliers440/4 | €4,632 | €11,848 | €2,249 | €4,832 | €8,018 | ▲ 65.9% |
| Advances received on contracts in progress46 | - | €45,455 | - | - | - | - |
| Taxes, remuneration and social security45 | €1,576 | €1,595 | €1,803 | €2,717 | €1,360 | ▼ 50.0% |
| Taxes450/3 | €3 | - | - | €2,717 | €1,360 | ▼ 50.0% |
| Remuneration and social security454/9 | €1,574 | €1,595 | €1,803 | - | - | - |
| Other amounts payable47/48 | €26,696 | €28,861 | €37,744 | €31,719 | €20,497 | ▼ 35.4% |
| Accrued charges and deferred income492/3 | €7,092 | €28,791 | €59,764 | €103,676 | €102,263 | ▼ 1.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €8,681 | -€61,687 | -€64,607 | -€47,439 | -€5,414 | ▲ 88.6% |
| + Depreciation and write-downs630 | €43,117 | €86,965 | €58,128 | €55,560 | €39,401 | ▼ 29.1% |
| Operating cash flow (approximation) | €51,798 | €25,278 | -€6,479 | €8,120 | €33,987 | ▲ 319% |
| Investment in fixed assets (approximation) | - | -€798,562 | €164,478 | -€54,895 | -€5,681 | ▲ 89.7% |
| Change in cash | - | -€20,120 | €2,905 | -€1,327 | -€1,043 | ▲ 21.4% |
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
13-07
State Gazette act
Appointment: ROUSSEAU Katleen Edwarda Johanna (non-statutory director)Capital increase3 facts ▸
State Gazette act
Appointment: ROUSSEAU Katleen Edwarda Johanna (non-statutory director)
Capital increase3 facts ▸
- General meeting, 23-06-2026
- Capital increase, €600.000
- Director appointment, ROUSSEAU Katleen Edwarda Johanna (non-statutory director)
30-04
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
30-04
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
27-04
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-09
Financial
Weakest financial yearnet -€64,607
Net result drops to -€64,607, the lowest in the series; recovery starts the following year.
30-09
Financial
Liquidity triplescurrent ratio 1.45
Current ratio from 0.51 to 1.45; short-term debt falls from €560,411 to €422,427.
02-04
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
01-05
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 1 day late
2021
30-04
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-03
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
30-03
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
19-04
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
03-04
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 4 acts read
About the unread acts
Of the 4 Belgian State Gazette acts we know for this company, 1 has been read. The other 3 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, last change in 2026
ROUSSEAU Katleen Edwarda Johanna
CurrentNon-statutory director · since 01-07-2026
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
3 of this company's 4 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Schelle · 1 establishment unit since 2004
Ground area
997 m²
Building footprint
230 m²
Volume, LiDAR
1,516 m³
Parcel 11038C0257/00G000, Flanders · tallest building 10.2 m, ±2 floors. Linked by address, not a title deed.
6
companies at this address
See who is registered here
1 establishment unit
MANEXTENSO
since 20042.134.870.822
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11038C0257/00G000 | Flanders | 997 m² | 1 · 230 m² | 10.2 m · 2 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.
Mandate history
1 person since 2026, 1 in office
- Board
| Name | Functions and periods |
|---|---|
| ROUSSEAU Katleen Edwarda Johanna |
|
Structure & network
Connections & network
1 connected companyThe connected companies are in the list below.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, scroll to zoom.
Linked via shared directors
CAMINO GRONDONTWIKKELING
Shared director
→
Ownership & control
2 board mandatesPublic money · subsidies and aid
Flemish government
2023 · 1 entry · 149 EUR awarded · 149 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 149 EUR | 149 EUR |
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Of 82,642 companies in sector 70200 we hold annual accounts for 52,626. 33,036 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
Founded16-12-2003
Fiscal year end30-09
Activities, NACEBEL 2025
70200Business and other management consultancy
64210Activities of holding companies
68201Renting and operating of own or leased residential real estate, excluding social housing
E-invoicing
Reachable via Peppol
Peppol ID
0208:0862224090
Also
9925:BE0862224090
Registered
10-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.