MANFILCONSTRUCT
ActiveSummary
MANFILCONSTRUCT has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €339,002 and a net result of -€13,630. Equity is growing by ~27.3% per year across the filed fiscal years. Its solvency ranks better than 71% of 7524 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability16▼-54
Solvency88▼-9
Growth52=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €20,000 at 30 days acceptable
Liquidity ample (current ratio 14.65 against 16.06 in 2024; short-term debt: 2.7% and cash: 15% of total assets), and 36.8% 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 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% 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
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 26-08-2026, 26 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
26 d late
2024
26 d late
2023
28 d late
2022
28 d late
2021
29 d late
2020
27 d late
2019
89 d late
← 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 36 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% 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
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€339,002▼ 3.9%
2024 · €352,633
Total assets
€536,701▲ 9.7%
2024 · €489,253
Net result
-€13,630
2024 · €6,716
Working capital
€201,392▼ 52.8%
2024 · €427,069
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€312,098▲ 1,008%€13,215▼ 95.8%€8,626▼ 34.7%€3,807▼ 55.9%-€26,779
Net result€230,502▲ 968%€8,794▼ 96.2%€5,566▼ 36.7%€6,716▲ 20.7%-€13,630
Equity€331,558▲ 228%€340,351▲ 2.7%€345,917▲ 1.6%€352,633▲ 1.9%€339,002▼ 3.9%
Total assets€469,601▲ 328%€480,736▲ 2.4%€478,004▼ 0.6%€489,253▲ 2.4%€536,701▲ 9.7%
Debt€64,785▲ 643%€67,127▲ 3.6%€58,829▼ 12.4%€63,362▲ 7.7%€143,718▲ 127%
Working capital€402,483▲ 552%€404,441▲ 0.5%€417,739▲ 3.3%€427,069▲ 2.2%€201,392▼ 52.8%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €26,779 after €3,807 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €536,701
Fixed assets
€320,560 ▲ 848%
Current assets
€216,141 ▼ 52.5%
Equity and liabilities €536,701
Equity
€339,002 ▼ 3.9%
Provisions
€53,981 ▼ 26.3%
Debt
€143,718 ▲ 127%
Debt's share of the balance-sheet total rises from 13.0% to 26.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€19,236▼
2024 · €6,835
Cash flow
-€6,088▼
2024 · €9,743
Current ratio
14.65▼
2024 · 16.06
Debt to equity
0.42▲
2024 · 0.18
ROE
-4.0%▼
2024 · 1.9%
ROA
-2.5%▼
2024 · 1.4%
Interest coverage
-411.91▼
2024 · 147.55
Debt ≤ 1 year
€14,749▼
2024 · €28,362
Income taxes
€15,382▲
2024 · €7,153
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €293,031 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €39 | €4,044 | €3,027 | €7,543 | ▲ 149% |
| Other operating charges640/8 | €210 | €1,075 | €1,216 | €721 | €738 | ▲ 2.4% |
| Operating charges capitalised as restructuring costs649 | -€339 | - | - | - | - | - |
| Non-recurring operating charges66A | - | - | - | €93 | €121 | ▲ 30.1% |
| Gross operating margin9900 | €311,969 | €14,330 | €13,886 | €7,649 | -€18,377 | ▼ 340% |
| Operating profit (loss)9901 | €312,098 | €13,215 | €8,626 | €3,807 | -€26,779 | ▼ 803% |
| Financial income75/76B | - | - | €934 | €10,109 | €9,300 | ▼ 8.0% |
| Recurring financial income75 | - | - | €934 | €10,109 | €9,300 | ▼ 8.0% |
| Financial charges65/66B | €162 | €129 | €166 | €46 | €47 | ▲ 0.8% |
| Recurring financial charges65 | €162 | €129 | €85 | €46 | €47 | ▲ 0.8% |
| Non-recurring financial charges66B | - | - | €82 | - | - | - |
| Profit (loss) for the period before taxes9903 | €311,937 | €13,086 | €9,394 | €13,869 | -€17,526 | ▼ 226% |
| Transfer from deferred taxes780 | - | - | - | - | €19,277 | - |
| Transfer to deferred taxes680 | €73,258 | - | - | - | - | - |
| Income taxes67/77 | €8,177 | €4,293 | €3,828 | €7,153 | €15,382 | ▲ 115% |
| Profit (loss) for the period9904 | €230,502 | €8,794 | €5,566 | €6,716 | -€13,630 | ▼ 303% |
| Transfer from tax-exempt reserves789 | €12,800 | - | - | - | €57,831 | - |
| Transfer to tax-exempt reserves689 | €219,773 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €23,529 | €8,794 | €5,566 | €6,716 | €44,201 | ▲ 558% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €469,601 | €480,736 | €478,004 | €489,253 | €536,701 | ▲ 9.7% |
| Fixed assets21/28 | €32,332 | €39,168 | €36,435 | €33,821 | €320,560 | ▲ 848% |
| Tangible fixed assets22/27 | €32,295 | €39,131 | €36,398 | €33,784 | €320,523 | ▲ 849% |
| Land and buildings22 | €32,295 | €32,295 | €32,295 | €32,295 | €319,358 | ▲ 889% |
| Plant, machinery and equipment23 | - | - | €141 | €41 | - | - |
| Furniture and vehicles24 | - | €6,836 | €3,962 | €1,448 | €1,165 | ▼ 19.5% |
| Financial fixed assets28 | €37 | €37 | €37 | €37 | €37 | = |
| Current assets29/58 | €437,268 | €441,568 | €441,568 | €455,432 | €216,141 | ▼ 52.5% |
| Amounts receivable within one year40/41 | €8,640 | €29,722 | €34,954 | €49,772 | €59,567 | ▲ 19.7% |
| Trade receivables40 | - | - | - | €14,315 | €83 | ▼ 99.4% |
| Other amounts receivable41 | €8,640 | €29,722 | €34,954 | €35,458 | €59,485 | ▲ 67.8% |
| Current investments50/53 | - | - | €300,000 | €300,000 | €75,000 | ▼ 75.0% |
| Cash at bank and in hand54/58 | €428,629 | €411,846 | €106,615 | €105,427 | €80,455 | ▼ 23.7% |
| Deferred charges and accrued income490/1 | - | - | - | €233 | €1,119 | ▲ 381% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €469,601 | €480,736 | €478,004 | €489,253 | €536,701 | ▲ 9.7% |
| Equity10/15 | €331,558 | €340,351 | €345,917 | €352,633 | €339,002 | ▼ 3.9% |
| Contributions10/11 | €28,534 | €28,534 | €34,734 | €34,734 | €34,734 | = |
| Reserves13 | €303,023 | €311,817 | €311,182 | €317,898 | €304,268 | ▼ 4.3% |
| Non-distributable reserves130/1 | €6,200 | €6,200 | - | - | - | - |
| Reserves not available under the articles1311 | €6,200 | - | - | - | - | - |
| Other1319 | - | €6,200 | - | - | - | - |
| Tax-exempt reserves132 | €219,773 | €219,773 | €219,773 | €219,773 | €161,942 | ▼ 26.3% |
| Distributable reserves133 | €77,050 | €85,843 | €91,409 | €98,125 | €142,326 | ▲ 45.0% |
| Provisions and deferred taxes16 | €73,258 | €73,258 | €73,258 | €73,258 | €53,981 | ▼ 26.3% |
| Deferred taxes168 | €73,258 | €73,258 | €73,258 | €73,258 | €53,981 | ▼ 26.3% |
| Amounts payable17/49 | €64,785 | €67,127 | €58,829 | €63,362 | €143,718 | ▲ 127% |
| Amounts payable within one year42/48 | €34,785 | €37,127 | €23,829 | €28,362 | €14,749 | ▼ 48.0% |
| Trade debts44 | €1,715 | €9,570 | €1,750 | €4,442 | €1,656 | ▼ 62.7% |
| Suppliers440/4 | €1,715 | €9,570 | €1,750 | €4,442 | €1,656 | ▼ 62.7% |
| Advances received on contracts in progress46 | €20,000 | €20,000 | €20,000 | €20,000 | - | - |
| Taxes, remuneration and social security45 | €13,071 | €7,557 | €2,079 | €3,920 | €13,093 | ▲ 234% |
| Taxes450/3 | €13,071 | €7,557 | €2,079 | €3,920 | €13,093 | ▲ 234% |
| Accrued charges and deferred income492/3 | €30,000 | €30,000 | €35,000 | €35,000 | €128,969 | ▲ 268% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €230,502 | €8,794 | €5,566 | €6,716 | -€13,630 | ▼ 303% |
| + Depreciation and write-downs630 | - | €39 | €4,044 | €3,027 | €7,543 | ▲ 149% |
| Operating cash flow (approximation) | €230,502 | €8,833 | €9,610 | €9,743 | -€6,088 | ▼ 162% |
| Investment in fixed assets (approximation) | - | -€6,875 | -€1,311 | -€413 | -€294,282 | ▼ 71,118% |
| Change in cash | - | -€16,783 | -€305,231 | -€1,188 | -€24,972 | ▼ 2,002% |
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
26-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 26 days late
2025
31-12
Financial
Weakest financial yearnet -€13,630
Net result drops to -€13,630, the lowest in the series.
26-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 26 days late
2024
28-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 28 days late
2023
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 28 days late
2022
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 29 days late
2021
31-12
Financial
Highest result since 2018net €230,502 ▲968%
Operating result €312,098, net result €230,502, both a record.
31-12
Financial
Equity above €200,000Eq €331,558 ▲228%
4 profitable years in a row build equity to €331,558.
27-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 27 days late
2020
31-12
Financial
Equity above €100,000Eq €101,055 ▲27.2%
3 profitable years in a row build equity to €101,055.
28-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 89 days late
2019
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 29 days late
2018
29-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 29 days late
2017
28-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 28 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Namur · 1 establishment unit since 1992
Ground area
496 m²
Building footprint
92 m²
Volume, LiDAR
1,018 m³
Parcel 92135E0008/00R000, Wallonia · tallest building 13.8 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
F.I.L.
since 19922.057.722.960
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92135E0008/00R000 | Wallonia | 496 m² | 1 · 92 m² | 13.8 m · 4 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.
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Of 29,787 companies in sector 41001 we hold annual accounts for 16,039. 10,607 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
Founded09-03-1992
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
Scores and ratios are computed by Checked and are not a credit decision.