MANFORCE
InactiveFinancials · financial year 2023, abbreviated format
2023 annual accounts filed late (174 days) Filed on 21 October 2024, deadline 30 April 2024 (7 months after the close on 30 September 2023, Companies Code art. 3:10). Source: NBB, 2024-00511580.
Equity
-€591,154▼ 124%
2022 · -€263,771
Total assets
€1.8m▼ 5.3%
2022 · €1.9m
Net result
-€327,383
2022 · €335
Working capital
-€762,423▼ 58.4%
2022 · -€481,372
Trend over the years
2020 to 2023, 4 financial years
The operating result turns negative in 2023: a loss of €316,506 after €11,258 in 2022, the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result-€0.3m
2023
Net result-€0.3m
2023
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€1.8m
2023
Equity-€0.6m
2023
Debt€2.3m
2023
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€0.8m
2023
Average staff in full-time equivalents (FTE).
Staff (FTE)10.8
2023
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line2020202120222023
Operating result€0.03m--€0.3m€0.01m-€0.3m
Net result€0.03m--€0.3m€335-€0.3m
Equity€0.03m--€0.3m-€0.3m▲ 0.1%-€0.6m▼ 124%
Total assets€0.2m-€1.7m▲ 653%€1.9m▲ 6.4%€1.8m▼ 5.3%
Debt€0.2m-€2.0m▲ 905%€2.1m▲ 5.5%€2.3m▲ 10.9%
Working capital-€0.08m--€0.4m▼ 370%-€0.5m▼ 26.9%-€0.8m▼ 58.4%
Staff (FTE)3.510.8▲ 209%
Turnover and EBIT margin not published: the abbreviated or micro format does not require them.
Why a figure moved sharply
- 2023 Staff (FTE) +209% on 2022. The accounts now follow the abbreviated format, last year the micro format.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €1.8m
Fixed assets
€1.1m ▼ 4.1%
Current assets
€661,352 ▼ 7.1%
Equity and liabilities
Equity-€591,154
Debt€2.3m
Equity is negative: debt (€2.3m) exceeds the balance-sheet total (€1.8m).
Key figures and ratios
EBITDA
-€224,614▼
2022 · €113,331
Cash flow
-€235,491▼
2022 · €102,407
Solvency
-33.7%▼
2022 · -14.3%
Current ratio
0.46▼
2022 · 0.60
Quick ratio
0.44▼
2022 · 0.55
ROA
-18.7%▼
2022 · 0.0%
Interest coverage
-15.84▼
2022 · 5.21
Debt ≤ 1 year
€1.4m▲
2022 · €1.2m
Debt > 1 year
€919,517=
2022 · €919,517
Staff costs
€514,696▲
2022 · €164,288
No debt to equity: equity is negative, so debt divided by equity means nothing.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €3,646 | €4,154 | ▲ 13.9% |
| Remuneration, social security and pensions62 | - | - | €164,288 | €514,696 | ▲ 213% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,876 | €44,195 | €102,073 | €91,892 | ▼ 10.0% |
| Other operating charges640/8 | - | €3,259 | €16,860 | €12,838 | ▼ 23.9% |
| Gross operating margin9900 | €39,630 | -€239,811 | €294,479 | €302,920 | ▲ 2.9% |
| Operating profit (loss)9901 | €30,064 | -€287,265 | €11,258 | -€316,506 | - |
| Financial income75/76B | - | €1,160 | €10,814 | €3,302 | ▼ 69.5% |
| Recurring financial income75 | €5 | €1,160 | €10,814 | €3,302 | ▼ 69.5% |
| Financial charges65/66B | - | €9,660 | €21,737 | €14,179 | ▼ 34.8% |
| Recurring financial charges65 | €943 | €9,660 | €21,737 | €14,179 | ▼ 34.8% |
| Profit (loss) for the period before taxes9903 | €29,126 | -€295,765 | €335 | -€327,383 | - |
| Income taxes67/77 | €3,467 | - | - | - | - |
| Profit (loss) for the period9904 | €25,659 | -€295,765 | €335 | -€327,383 | - |
| Profit (loss) for the period to be appropriated9905 | €25,659 | -€295,765 | €335 | -€327,383 | - |
| Line | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €0.2m | €1.7m | €1.9m | €1.8m | ▼ 5.3% |
| Fixed assets21/28 | €0.1m | €1.1m | €1.1m | €1.1m | ▼ 4.1% |
| Intangible fixed assets21 | €0.001m | €0.005m | €0.004m | €0.003m | ▼ 22.2% |
| Tangible fixed assets22/27 | €0.1m | €1.1m | €1.1m | €1.1m | ▼ 4.0% |
| Land and buildings22 | - | €0.9m | €0.9m | €0.8m | ▼ 4.0% |
| Plant, machinery and equipment23 | - | €0.1m | €0.1m | €0.1m | ▲ 7.3% |
| Furniture and vehicles24 | - | €0.07m | €0.1m | €0.1m | ▼ 14.4% |
| Financial fixed assets28 | - | €0.002m | €0.002m | €0.002m | = |
| Current assets29/58 | €0.1m | €0.6m | €0.7m | €0.7m | ▼ 7.1% |
| Amounts receivable after more than one year29 | - | - | €0.3m | €0.3m | = |
| Other amounts receivable291 | - | - | €0.3m | €0.3m | = |
| Stocks and contracts in progress3 | - | - | €0.05m | €0.04m | ▼ 35.1% |
| Stocks30/36 | - | - | €0.03m | €0.03m | ▼ 4.2% |
| Contracts in progress37 | - | - | €0.02m | €0.007m | ▼ 72.1% |
| Amounts receivable within one year40/41 | €0.05m | €0.6m | €0.3m | €0.3m | ▼ 11.0% |
| Trade receivables40 | - | €0.2m | €0.2m | €0.2m | ▼ 13.1% |
| Other amounts receivable41 | - | €0.3m | €0.06m | €0.05m | ▼ 2.3% |
| Cash at bank and in hand54/58 | €0.002m | €0.003m | €0.05m | €0.05m | ▲ 4.9% |
| Deferred charges and accrued income490/1 | - | €0.05m | €0.006m | €0.004m | ▼ 33.2% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €0.2m | €1.7m | €1.9m | €1.8m | ▼ 5.3% |
| Equity10/15 | €0.03m | -€0.3m | -€0.3m | -€0.6m | ▼ 124% |
| Contributions10/11 | - | €0.006m | €0.006m | €0.006m | = |
| Reserves13 | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Distributable reserves133 | - | €0.03m | €0.03m | €0.03m | = |
| Profit (loss) carried forward14 | - | -€0.3m | -€0.3m | -€0.6m | ▼ 111% |
| Amounts payable17/49 | €0.2m | €2.0m | €2.1m | €2.3m | ▲ 10.9% |
| Amounts payable after more than one year17 | €0.008m | €1.0m | €0.9m | €0.9m | = |
| Financial debts170/4 | - | €1.0m | €0.9m | €0.9m | = |
| Amounts payable within one year42/48 | €0.2m | €1.0m | €1.2m | €1.4m | ▲ 19.3% |
| Current portion of amounts payable after more than one year42 | - | €0.04m | €0.08m | €0.02m | ▼ 70.4% |
| Trade debts44 | €0.06m | €0.2m | €0.4m | €0.1m | ▼ 65.1% |
| Suppliers440/4 | - | €0.2m | €0.4m | €0.1m | ▼ 65.1% |
| Advances received on contracts in progress46 | - | €0.001m | €0.001m | €0.001m | = |
| Taxes, remuneration and social security45 | - | €0.003m | €0.04m | €0.1m | ▲ 137% |
| Taxes450/3 | - | €0.003m | €0.006m | €0.009m | ▲ 44.2% |
| Remuneration and social security454/9 | - | - | €0.03m | €0.09m | ▲ 155% |
| Other amounts payable47/48 | - | €0.8m | €0.7m | €1.2m | ▲ 71.6% |
| Accrued charges and deferred income492/3 | - | - | €0.001m | €0.001m | ▼ 4.8% |
| Line | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.03m | -€0.3m | €335 | -€0.3m | - |
| + Depreciation and write-downs630 | €0.009m | €0.04m | €0.1m | €0.09m | ▼ 10.0% |
| Operating cash flow (approximation) | €0.03m | -€0.3m | €0.1m | -€0.2m | - |
| Investment in fixed assets (approximation) | - | -€1.0m | -€0.1m | -€0.05m | ▲ 65.0% |
| Change in cash | - | €0.001m | €0.05m | €0.002m | ▼ 94.8% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (4)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 30-09-2023 | abbreviated format | 21-10-2024 | 2024-00511580 |
| 31-12-2022 | micro format | 29-04-2024 | 2024-00077504 |
| 31-12-2021 | micro format | 30-09-2022 | 2022-20453324 |
| 31-12-2020 | micro format | 03-12-2021 | 2021-79400057 |
Subsidies and aid
Flemish government
2024 · 1 entry · €1,694 awarded · €3,854 paidPublic contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.