Result
€318,757 ▲ 270%
The result rose in 2025: restructuring with MANFORCE.
MANFORCE
Lifetime
2 annual accounts with figures on one time axispeak €1.0m (2024)
€991,664▼ 3.8%
peak €318,757 (2025)
€318,757▲ 270%
peak €238,431 (2025)
€238,431▲ €747,382
€2.6m▲ 48.6%
peak 8.1 FTE (2025)
8.1 FTE▲ 170%
Board1 name since 2024
1 directorJJPT
Documentsfilings and deeds
04-09-202635 days late
2025abbreviated format
Result from €86,262 to €318,757Staff from 3 FTE to 8.1 FTEEquity from -€508,951 to €238,431Debts from €1.7m to €2.6mCash from €90,929 to €26,019
Key points
from the 2025 annual accountsTurnover
≈ €2.1m estimated
The abbreviated format states no turnover.
Debts
€2.6m 92% of the balance sheet
Suppliers 28%Taxes and wages 7%Other 66%
Of this, €2.6m falls due within a year.
Staff
9 employees on 31-12-2025
In 2025, 3 people joined and 2 left.
Liquidity
1.02 was 1.77 in 2024
Short-term debts rose from €558,742 to €2.6m.
Position in the sector
€318,757
Higher net result than 94% of companies in construction of buildings. Sector median €19,022 · 2,812 companies.
2025 accounts filed 35 days after the deadline
Checked score
38
Weak
Financially stronger than 45% of micro companies in construction of buildings (NACE 41)
Probability in this band: 4.2% to 15.0%
Bankruptcy probability within 12 months
5.2% Elevated
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 1.5% across 13,460 companies (NACE 41, micro).
About 5 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
10-2025: 3.6%lowest value
11-2025: 3.7%▲ +0.1 percentage points vs 10-2025
12-2025: 3.7%● unchanged vs 11-2025
01-2026: 3.7%● unchanged vs 12-2025
02-2026: 3.7%● unchanged vs 01-2026
03-2026: 3.7%● unchanged vs 02-2026
04-2026: 3.7%● unchanged vs 03-2026
05-2026: 4.0%▲ +0.3 percentage points vs 04-2026
06-2026: 4.2%▲ +0.2 percentage points vs 05-2026
07-2026: 4.4%▲ +0.2 percentage points vs 06-2026
08-2026: 5.0%▲ +0.6 percentage points vs 07-2026
09-2026: 5.2%▲ +0.2 percentage points vs 08-2026highest value
10-2026: 5.2%● unchanged vs 09-2026
11-2026: 5.2%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Sector: Construction of residential and non-residential buildings (NACE 41)
Founded in 2024
Last filed accounts filed 35 days late; 2 of the last 3 accounts late
Equity €238,431 (8.5% of total assets)
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 41, micro). It does better than 17% of them on solvency, 3% on liquidity, 66% on profitability and 92% on growth.
The bankruptcy probability was computed on 10-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the elevated class on 30-06-2025, 6.3% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 2,157 companies had the same profile as MANFORCE has now. Each dot stands for 6 companies, two years later.
94.1%
were still trading
2.8%
stopped another way
3.0%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of MANFORCE itself is higher: 5.2% within 12 months. It rests on far more data about MANFORCE than the profile alone.
Test of the method
The method was tested on the 497,448 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 2,157 companies, not a prediction for MANFORCE. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €9,000 on 30-day terms, only on tighter conditions: elevated estimated bankruptcy probability calls for adjusted credit terms
Liquidity is tight, with a current ratio of 1.02 (1.77 in 2024), below the usual 1.5. Short-term debt is 91.5% and cash 0.9% of total assets. 91.5% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
raises risk
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 17% of 2818 sector peers (2025).
NBB · sector comparisonPosition among 2818 sector peers
Solvency
better than 17%
← weakest
strongest →
raises risk · 2025 accounts filed 35 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 04-09-2026, 35 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 2 filingsDeviation from the deadline
2025
35 days late
2024
85 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 2 accounts on average 60 days after the deadline. In the sector (NACE 41), the median for financial year 2024 was on the deadline day, and 46% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsWhere today falls in the filing period
11-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- JJPTscore 52equity €112,136 (2024) · annual accounts 2025
- Tom Louis Buyseannual accounts 2025
Recent changes
Capital increase of €600,000 to €606,000
Capital from €6,000 to €606,000, 10,000 new shares · Capital contribution: zekere,vaststaande en opeisbare schuldvordering · Permanent representative: Wim De Lannoye · General meeting of 23-12-2025 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:1015052936
First establishment
Annemie Brackxstraat 12, Ostend
Incorporation
Demerger: MANFORCE splits off to MANFORCE · Dissolution of the company · Dissolved without liquidation · published on 22-10-2024 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| MANFORCE Ostend | €2.8m | €1.0m | 8.5% | 8.1 |
| GOSSET Mons | €2.0m | €1.4m | 20.6% | 12.5 |
| SIPA Dilsen-Stokkem | €2.0m | €1.3m | 17.1% | 10 |
| RECOTEX Wetteren | €3.0m | €0.7m | 10.1% | 4.6 |
| CSE Solutions Diksmuide | €2.0m | €1.2m | 20.9% | 11.1 |
| Bekaert Building Logistics Waregem | €4.7m | €1.3m | 72.6% | 4 |
| MS PROJECTS Waregem | €1.2m | €0.7m | 4.8% | 7.1 |
These companies have the same main activity as MANFORCE: general construction of residential buildings (NACE 41001). They are comparable in size and age: total assets between €1.2m and €4.7m, founded between 2022 and 2024.
Official details
Source: KBO- Status
- Active since 25-09-2024Normal situation
- Activity
- General construction of residential buildingsNACE 41001and 2 others
- Joint committees
- 124Construction
- 200Auxiliary committee for white-collar workers · annual accounts 2025
- Establishment unit
- 2.365.245.0308400 Ostend, since 14-10-2024
- Financial year end
- 31 December
- Peppol
- Reachable since 05-06-2025
Insights on MANFORCE
The computed 12-month bankruptcy probability of MANFORCE is 5.2% (elevated). The 2025 annual accounts show equity of €238,431 and a net result of €318,757.
Its solvency ranks better than 17% of 2,818 sector peers (NACE 41, financial year 2025). The company has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about MANFORCE
- What is the company number of MANFORCE?
- The company number of MANFORCE is 1015.052.936. The VAT number is the same number with BE in front: BE 1015.052.936.
- Where is MANFORCE based?
- The registered office is at Annemie Brackxstraat 12, 8400 Ostend.Company details
- What does MANFORCE do?
- According to the KBO register, the main activity is general construction of residential buildings (NACE 41001).
- What is the legal form of MANFORCE?
- MANFORCE is a private limited company (BV).
- When was MANFORCE founded?
- MANFORCE was founded on 25-09-2024.
- Is MANFORCE still active?
- Yes, MANFORCE is an active enterprise in the KBO register.
- How many employees does MANFORCE have?
- MANFORCE had an average of 8.1 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does MANFORCE fall under?
- In its 2025 annual accounts, MANFORCE states joint committees 124 (Construction) and 200 (Auxiliary committee for white-collar workers).
- What is the turnover of MANFORCE?
- The turnover in financial year 2025 is ≈ €2.1m. This figure is estimated from the gross margin of €991,664 and 30 comparable companies (NACE 41001). It probably lies between €1.7m and €3.1m.
- Is MANFORCE profitable?
- In financial year 2025, MANFORCE made a profit of €318,757.
- Where can I find the annual accounts of MANFORCE?
- MANFORCE filed 2 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of MANFORCE due?
- MANFORCE must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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